Forex trading involves exchanging one currency for another, commonly known as selling or buying currency pairs, using current market exchange rates. The FX market is the largest in the world, with approximately trillion(s) of dollars worth of currency transacted daily.
For trading foreign currency, you need a forex broker. Beginners and professional traders alike are looking for a few key characteristics and benefits in a forex broker, like, trading experience, fees, product offerings (currencies, cryptocurrencies, CFDs, etc.), trading platforms, customer support, and trustworthiness are among the most important of these.
There are many forex broker platforms nowadays. For the best forex trading experience, you need to have a good forex trading platform. Here are some of the best forex trading platform that we have reviewed.
FxPro processes your cTrader orders anonymously with no dealing desk (NDD) interaction using straight-through processing (STP) technology. This indicates that they are not a market maker and do not intervene in trading. Fast trade execution speeds are the biggest benefit of NDD interference, with the bulk of orders being executed in 11.06 milliseconds.
As a result, FxPro’s quotes are virtually always the price at which the order is filled, with a tiny proportion of slippage having a nearly equal positive and negative impact. The Equinix Data Centre in London (LD5), which contains servers connected to tier 1 institutions utilizing Quotix, handles the majority of cTrader trades.
It is part of IG Group Holdings Plc, which “empowers knowledgeable, decisive, and adventurous people to discover opportunities in financial markets.” It was started in 1974 by Stuart Wheeler “as the world’s first spread betting company.” unlike the majority of the brokers on this list, It accepts US forex traders. It is especially for someone who wants to trade CFDs globally. It’s for the users who want to trade the foreign currency markets in the US.
This broker is well-suited to compete in the online forex broker business due to its cheap spread costs, emphasis on client education & service, improved & usable research with efficient & easy-to-use UI’s (user interfaces).
XM Group Broker:
It was founded in 2009 and is regulated in two tier-one (1) and one tier-two (2) jurisdictions, proving it to be a safe broker for forex trading (specially CFDs.)
In 2021, XM Group is a Best-in-Class MetaTrader broker, offering the whole MetaTrader suite as well as a few noticeable updates to improve the experience, as well as bespoke indicators. Its research offering is extensive in variety & depth, challenging industry leaders such as Saxo Bank and IG as well.
The cost of an account at XM Group varies depending on the type of account. When compared to pricing leaders such as CMC Markets and IG, the broker does not stand out for low-cost trading. For more in-depth information about this broker, you can check out this review.
RoboForex Group has been acknowledged by the most respected professionals in the financial market since 2009 and has been functioning through two globe-presented entities: RoboForex, which provides services all over the world, and RoboMarkets Ltd, which is based in Cyprus and supports EU and EEA nations.
All through its history, the broker has served a diverse range of clients all over the world, earning some distinction for its innovative trading proposals, as well as specialized conditions ideal for a variety of trading styles, trading sizes, and portfolio traders. Also, one of the best aspects of the RoboForex offer is the wide selection of trading software or platforms.
RoboForex is a reputable broker that operates out of Cyprus. It has a long history of operation and has serviced a large number of traders. It offers a wide selection of account types, trading platforms, free special trading signals, and research tools, as well as sophisticated trading capabilities that are appropriate for both novice and experienced traders.
E-Global Trade & Finance Group, Inc., with its registered office in the British Virgin Islands, owns Forex4you, which became live in February 2007. Clients have opened more than 2,200,000 trading accounts in the last 13 years, according to the company’s own records.
The 100 percent deposit bonus and 50% cashback program, as well as Share4you, the company’s patented copy trading technique, are the foundations of its success.
The accounts of Forex4you are audited by KPMG, an Anglo-Dutch Big Four accounting firm. While this multi-asset broker accepts clients from all over the world, it focuses mostly on Asia.
Forex4you uses both the out-of-the-box MT4 trading platform and its own proprietary trading platform, Forex4you Desktop, Forex4you WebTrader, and Forex4you Mobile. The Forex4you platform, with its enhanced functionality and simple user interface, is an appealing choice for manual traders.