Our Trusted Brokers
Forex market is an attractive way to earn profit. Everyday 5-6 trillion USD are exchanged in this market. Many traders are fulfilling their dreams with trading. As the market is huge, there are a lot of scammers who scam traders. To prevent this situation, it’s important to choose the right broker.
Why do you need a reliable forex broker:
Leverage: Leverage is a loan extended to margin account holders by their brokers. Forex traders have access to a variety of leverage amounts depending on the broker, such as 30:1 or 200:1. For example, if a trader use leverage 30:1 and his account size is $1000, he can hold a position that is valued at $30000.
If your balance is $200-$500, lot size should be 0.01-0.02 and leverage should be 1:300-500. If your balance is $1000, the lot size should be 0.04 and leverage should be 1:200:300
Please note. Leverage is a great way to trade more. But over leverage can create problems. Before taking leverage, check your deposit and then take leverage.
Commission and Spreads:
A forex broker earns money through commissions and spreads. Many brokers claim that they do not charge any commission but they may charge a specified percentage of spread. When they charge commission, their spread is lower than those who don’t charge any commission. The wider the spread, the more difficult to trade.
Initial deposit: Not every trader can invest the same amount of deposit. Some brokers may require $1000 initial deposit, some may require $50 initial deposit. According to the traders capability, they can choose their broker.
Currency pair offered: In forex, there are huge numbers of currency pairs available in the market. Traders trade with only major currency pairs. A broker can provide huge types of currency pairs. But what is most important is that they offer the pair(s) in which the trader or investor is interested. Some of the major currency pairs are: EUR/USD, USD/JPY, GBP/USD, USD/CHF etc.
Trading Platform: Trading platform is the vital key to do forex trading.
There are many brokers available in the market. Some brokers are available in all the countries. Some are not. Here is a list of brokers who are reliable.
IC Markets: IC Markets is the largest true ECN broker in the market. IC Markets is the first Australian Forex broker which was founded in 2007. It has become one of the biggest brokers in the world, also booming in recent years. IC Markets is renowned for its cutting-edge ECN technology, a factor that has enabled it to become one of the best brokers in terms of spread. Because of this reason, scalpers and day traders choose IC Market, i.e. traders with a high volume of daily operations.
They have been providing quality service to the traders for a long time. There features are:
Do not manipulate the market
Account types of IC Markets:
Click here to know more or open an account with IC Market.
2. XM: XM, founded in 2009 in Cyprus, is the largest forex brokers in Cyprus, and third in the world, with an important rate of growth in recent years. In terms of platforms, XM only offers the MT4 and MT5, but where it excels is definitely in the orders execution technology, which is why it is very popular among very active day traders.
XM provides a variety of account types. They are:
2. XM ultra low account:
For this account minimum deposit amount 50$. Spread on all majors is as low as 0.6 pips.
XM is very popular among new traders as their required initial balance is very less.
Click here to know more or open an account with XM.
AxiTrader prides itself on being founded by and for traders. As such, the platform understands the features traders want and aims to deliver them. AxiTrader gives clients access to MetaTrader 4, which is perfect for trading indices, commodities, and forex. Execution is always fast with tight spreads. The broker is also well regulated for added peace of mind.
AxiTrader provides 2 types of account,
Click here to know more or open an account with Axi Trader:
4. FXTM (Forex Time)
FXTM is one of the most popular Forex brokers in the industry. They offer different tools and services for trading. They have a competitive spread and they are regulated in the UK.
FXTM has various types of account. Their major account are Standards account and ECN Accounts. Under these accounts, there are many sub- accounts.
Under standard accounts, following accounts can be registered:
Under ECN accounts, following accounts can be registered:
ECN Zero Account
FXTM Pro Account
Click here to know more or open an account with FXTM
Exness broker doesn’t give many promotions like other broker but still they are very popular among traders. They give high leverage and in 2018 their trading volume increased by 35%.
Although they have only 44000 clients at Exness monthly but they generate up to 395 billion dollars, their highest trading volume record. This shows that traders at Exness trade a lot of money, which means Exness is trusted and loved by experienced and professional traders.
Account Types of Exness:
Click here to know more or open an account with Exness
6. AVA Trade:
Ava trade was funded in 2006. They have grown to a trading volume of 2 million a month with 20,000 customers. It is regulated by top financial bodies.
For EU traders, the following account types are available:
Spread Betting Account
For international traders, Following account types are available:
According to our research, Ava Trade is very popular in South Africa and Nigeria. Traders from those regions choose Ava trade as they offer you a wide range of financial trading instruments to choose from, including a rich resource kit of charts, analytical tools and economic indicators.
Click here to know more or open an account with AVA Trade:
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