What are the best forex brokers

If you’re looking to become a successful forex trader, then working with a skilled and trustworthy broker is very crucial.

Best forex bonuses

What are the best forex brokers, what are the best forex brokers.

In the forex market, the two main types of brokers you’ll get include the regulated and the non-regulated brokers. Obviously, the former typically operates under regulations stipulated by a forex regulator. Regulated forex brokers must also be fully licensed and registered in their country of operation, unlike their non-regulated counterparts. Of course, the role of regulation in forex market cannot be underestimated. Regulation ensures that all players in this booming industry are strictly supervised. This way, merchants are protected from the many unscrupulous traders out there looking to swindle them off their hard earned money. Another thing, regulation also builds trust between merchants and their brokers, since most merchants don’t have enough time to monitor every investment.
Let’s take a quick look at some of the leading regulatory agencies:

Fxdailyreport.Com

Till about a decade ago, you had to make use of the telephone if you wanted to invest in the financial markets. You had to call up your broker for placing as well as closing orders. Introduction of online trading has, however, simplified every aspect of the investment process. You can carry out trades from the convenience of your home or on-the-go using the platform provided by brokers. Sounds simple, but the problem is there are umpteen number of forex brokers that offer trading platforms out there in the market. And, you need to work with the best forex broker if you want to achieve your financial goals. So, it all boils down to identifying the right broker to work with and it is definitely not an easy task. Read on to find out as to how you can identify the best forex brokers. In this post, various aspects you need to take into consideration when choosing a forex broker are discussed in detail so that the selection process becomes simpler and easier for you.

Top recommended and the best forex brokers for 2021

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 500:1 regulation: FCA UK, ASIC australia, MAS singapore	visit broker
min deposit: $1 spread: fixed spread from 3 pips leverage: up to 1:1000 regulation: CBR, cysec and FFMS	30% forex deposit bonus	visit broker
min deposit: $250 spread: as low as 0.1 pips leverage: up to 400:1 regulation: ASIC australia and FCA UK	visit broker
min deposit: €100 spread: the spread can be as low as 0.01%” (0.01% = spread for EUR/USD) leverage: 1:294 regulation: ASIC, cysec, FCA (UK)	visit broker
min deposit: $100 spread: starting from 0.9 pips leverage: 400:1 regulation: MIFID, FSB & ASIC	visit broker

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Main parameters to be checked for identifying the best forex brokers:

#1: regulations and licenses

It is highly recommended that you choose only forex brokers that are regulated or authorized by leading regulatory bodies such as commodity futures trading commission (CFTC), national futures association (NFA) and financial conduct authority (FCA in UK), among many others. This is because regulated brokers are more reliable than their non-regulated counterparts. Further, your hard earned money remains safe with such brokers for two reasons: they will be appropriately capitalized and they maintain segregated accounts for theirs as well as traders’ funds.

#2: forex trading platform

The online trading platforms that recommended forex brokers provide would not only be simple, but also intuitive and easy to operate or navigate. It, therefore, makes sense to try out a few online forex platforms and see for yourself as to which one has a better user interface and is easily navigable.

#3: customer support services

Customer support is a key aspect that you need to evaluate. Best fx brokers would often be aware of the needs of the traders and provide good, efficient and responsive customer support services. During the course of trading forex on an online broker’s platform, there will be times when you need certain time sensitive clarifications. If the customer support service of the broker you are planning to work with is not good enough, you could end up losing money. It is, therefore, recommended that you evaluate the brokers’ customer support service both by speaking to their representatives on telephone and by communicating with them through email.

Leverage offered for forex trading varies from one broker to another. If the leverage is high, the trader can make more profits. However, the risk of accumulating losses is also equally higher. Therefore, you should choose a broker that offers leverage suiting to your needs and based on your style of trading.

Brokers often try to attract you by offering high capital bonuses when you make your first deposit. This is good because you get more money for trading. You can choose the broker that offers the highest first deposit bonus, but you should make sure other aspects discussed above and those that are discussed below suit your needs.

#6: deposits and withdrawals

It is important that you understand the brokers’ policies related to deposits and withdrawals. The features to be evaluated when choosing top forex brokers are minimum amount to be deposited to start trading, deposit methods offered, currency options provided, minimum withdrawal amount specified and waiting time for withdrawals, among others. Further, it makes sense to go through all other written policies in detail.

Brokers make money by charging a fee for each of the trading transactions that you execute on the forex trading platform provided by them. As far as the broker and you are concerned, the significant source of revenue would be the spread, the difference between ask and bid prices. It pays, therefore, to check as to how the brokers you have shortlisted handle spreads:

Do they offer fixed or variable spreads?
What is the average and maximum spread for the currency pairs that you are planning to trade?
What spreads are offered when the volatility is very high?
Do you have to pay any commission for each trade apart from the spread?

Before buying a car, you always go for a test drive. Similarly, look for forex brokers that offer demo accounts. This helps you to open a practice account. You can try out their platform and find out for yourself as to which of the shortlisted brokers is best suited to your requirements. Most brokers offer practice accounts these days. So, it is easy for you to get a feel of the brokers’ platform before committing to depositing money and trading.

#9: other parameters for identifying the best forex brokers

The forex brokerages that offer very low account minimums can be considered for evaluation under the category “best forex brokers”. This is good because you don’t have to deposit large amounts of money in order to trade forex. Minimum account balance can be as low as $5 in the case of some of the reliable forex brokers.

Online forex brokers often try to snatch business through promotions. Do not fall prey to their sales gimmicks. Best forex brokers would never make unbelievable and unachievable promotional offers. It is true that cash and prizes form part of the game, but they should be reasonable.

Another aspect to look for when evaluating online forex brokers is the educational services offered by them. This helps you to master the art of forex trading. Brokers that provide you with a variety of educational tools for assisting you in assessing the forex market are the best forex brokers to work with.

Why expert traders trade with regulated forex brokers

If you’re looking to become a successful forex trader, then working with a skilled and trustworthy broker is very crucial. In the forex market, the two main types of brokers you’ll get include the regulated and the non-regulated brokers. Obviously, the former typically operates under regulations stipulated by a forex regulator. Regulated forex brokers must also be fully licensed and registered in their country of operation, unlike their non-regulated counterparts.

Role of regulation

Of course, the role of regulation in forex market cannot be underestimated. Regulation ensures that all players in this booming industry are strictly supervised. This way, merchants are protected from the many unscrupulous traders out there looking to swindle them off their hard earned money. Another thing, regulation also builds trust between merchants and their brokers, since most merchants don’t have enough time to monitor every investment.
Let’s take a quick look at some of the leading regulatory agencies:

CFTC and NFA: commodity futures trading commission and national futures association, regulate the financial services sector in united states of america (USA).

Cysec: the cyprus securities and exchange commission is the regulatory watchdog within the cysec domain. It offers services to the EU member states.

FCA: the financial conduct authority regulates the operations of over 56,000 financial services and companies in the UK.

ASIC: the australian securities and investment commission regulate the financial services sector in australia.

FSB: the financial services board is a south african agency which oversees functioning, regulation, and licensing of south african forex brokers.

Bafin: bafin is a financial supervisory authority providing its services to forex companies in germany.

Advantages of regulated forex brokers

With regulated brokers, you’ll always have some peace of mind when carrying out your real-money transactions. To expound more, here are the main reasons why expert traders prefer regulated brokers:

1. Credibility

It’s an open secret that most of us like to deal with trusted organizations, especially when money is involved. That being said, the credibility of any forex broker is greatly enhanced if the company is regulated by the relevant agencies. Remember that all regulated forex brokers are mandated to follow some strict rules put in place by their respective regulatory bodies. Furthermore, their regulatory bodies expect them to regularly present a copy of their audit report. Therefore, if a broker is listed on its regulatory body list, then it’s safe to say that the forex broker has fully complied.

2. Compensation

Getting compensated in case of any unfortunate scenario is arguably the best reason why most expert traders opt for regulated brokers. With most regulated brokers, you can rest assured that all your hard earned money will be refunded in case your brokerage firm goes down. For example, brokers operating under cysec are required to remit their contribution to the ICF (investor compensation fund). This pool of funds is to help settle any form of customer claims in case of any eventuality.

3. Effective customer service

Before choosing a forex broker, it’s always recommended that you settle for one who can effectively and immediately resolve all customer issues. In this case, most regulated brokers are always competent enough when dealing with technical support or account issues. In addition, they are very helpful and kind during the whole account opening process.

4. Quick deposits and withdrawals

Any reputable forex broker will allow their merchants to make deposits and withdrawals without any hassle. A regulated broker should have no reason whatsoever to make your earnings process difficult because they don’t have control over your funds. All they have to do is to facilitate the platform to make it convenient enough for you to trade.

5. Updated trading platform

Most regulated brokers are mandated by their respective regulatory authorities to provide their clients with the latest, powerful, and easy-to-use trading platforms. In fact, most of their platforms will readily provide you with all that you need to begin trading immediately. You’ll get a lot of educational materials including webinars, videos, articles, seminars, and e-courses at no extra charge. It goes without saying that regulated brokers also offer their clients free demo accounts to help them sharpen their skills before going live.

6. Legality

All over the world, governments are struggling to deal with issues concerning money laundering. Some of them have even gone ahead to pass very strict anti-money laundering laws. So to be on the safe side, you should always trade with a regulated broker. Most regulated forex brokers will ask you to provide some of your personal identification documents such as proof of address and photo ID. This might sound tedious to you but it’s always safe to be part of a regulated organization that can prove your money is being used in a legal way.

To sum it up, regulated forex brokers are always the best as well as the safest option to trade with. This is because they are always ahead in terms of legality, security, and safety of your funds. All in all, you can manage your risks better if you opt for a regulated forex broker.

Understanding true ECN vs STP broker

The foreign exchange market, also known as currency market, is a universal decentralized market that provides traders an opportunity to trade currencies. It is a market which incorporates all aspects of buying, selling, and exchanging currencies at the present-day or determined rates.

There are different kinds of forex brokers that you can choose to trade forex with. However, though all the brokers in forex are intended to provide a similar basic solution, the way they operate behind the scenes is different. Different types of brokers have varying techniques of operation, and the specific broker you cooperate with can significantly determine your success rate as a forex trader. Here are some crucial factors that will enable you determine which broker between a true ECN and STP broker is the best one to trade forex with:

Understanding true ECN vs STP broker

True ECN i.E. Electronic communications network brokers operate without their individual dealing desk. These brokers provide an electronic trading platform where professional market makers at monetary organizations such as banks, and other online trading participants including traders can enter bids and offers through their particular systems.

STP i.E. Straight through processing brokers are brokers without a dealing desk also. These brokers apply some of the techniques utilized by market makers to provide their particular clients with trading conditions which are more flexible. By STP brokers hiring some of the tactics of market makers, they are able to bypass the limitations connected to trading exclusively within the interbank market.

General overview of true ECN and STP brokers

Use of scalping techniques

True ECN and STP forex brokers do not care about how much their particular traders make. Therefore, these types of brokers allow traders to utilize scalping techniques to close their respective positions. Note that false ECN and STP brokers cannot allow you to use scalping techniques as a trader since they will be disadvantaged anytime you make small profits.

True ECN and STP brokers are types of forex brokers without a say when it comes to control on spread provided. These brokers have no control on spread offered since it’s the liquidity provider that determines the spread which is to be provided.

Though true ECN and STP brokers can add markups when necessary, they cannot in any way take it further down than the amount provided.

Difference between true ECN and STP brokers

Commission charged

On true ECN accounts, as a trader you will be required to pay a fixed commission to open and close trades. The spreads offered on true ECN accounts are determined by the rates of liquidity providers.

When using STP accounts as a trader, you will not be required to pay any commissions.

Pros of trading forex with a true STP broker

Cannot bankrupt themselves

True ECN brokers cannot trade against their specific clients to bankrupts themselves.

Similar price rates

If you are a forex trader, trading with a true ECN broker means you are guaranteed of price rates that are similar to those of the interbank market.

Negative balance protection

As a trader utilizing the trading account of a true ECN broker, the broker will be accountable for any dues with liquidity providers should your account read negative as a result of any reason beyond their control.

Cons of choosing a true ECN broker

Dealing with a true ECN broker will require you to pay rollover fees and commission at times.

Pros of trading forex with an STP broker

Their rates and the interbank prices are same

They provide their clients low entry capital requirements

Cons of choosing an STP broker

Choosing an STP forex broker means when you enter a trade you’ll not be informed what spread to expect.

Most true ECN and STP brokers are linked to several liquidity providers at the same time period. Despite both true ECN and STP brokers having incredible trading solutions which can meet your needs as a trader, their terms of operation vary. Whether you will choose a true ECN or STP broker, the rule of thumb is always ensuring you minimize losses and maximize profits as much as you can when trading forex. Ensure you compare carefully the terms of service of both a true ECN and STP broker before you choose one to handle your trading needs.

ECN forex brokers

ECN or electronic communication network is a technology bridge built with the purpose to links retail forex market participants or traders to liquidity providers. So eventually ECN is a non dealing desk bridge with straight-through processing execution that enables execution in a direct connection between the parties. Read more about ECN through wikipedia.

What is ECN broker?

So ECN brokers automatically match requested trading orders to sell or buy at the best available price from available market participants (learn about NASDAQ market participants), while at some time EUR USD spread maybe even 0 pip.

Apart from the competitive trading costs and due to its functions ECN technology also results in extended trading time too, along with high efficiency for automated trading and a variety of strategies suitable for both retail or institutional traders. Besides, ECN execution cannot cause any misunderstanding between the trader and the broker as its interbank connectivity brings transparent trading conditions.

What is ECN fee?

The trading brokers offering ECN account and connection usually offer an interbank spread from 0.0 pips and do charge a fixed commission per lot as a trading cost or fee.

ECN vs standard account

Unlike forex market maker brokers offering standard account that typically charge fixed spread for forex trading added above the quotes you can see via trading terminal, the ECN working with commission fee model. It means, typically there is no commission charge for standard accounts, but a spread only basis while ECN costs split between the interbank spread from 0 pip and commission charge per lot.

Depending on the strategy you deploy ECN spreads from 0 pips does not necessarily mean lower trading costs, as for particular strategies fixed or variable spread as a trading fee is a much better option. ECN brokers and technology indeed more suitable for experienced traders, professionals or those that operate bigger sizes. While the standard account and market maker execution model might be a good option for beginning traders, for some strategies and regular size traders.

Best ECN forex broker

Firstly, the best ECN broker is a heavily regulated broker, as it is a trustable one in which you would not worry about necessary compliance and safety measures towards your money. The only way to trade with a true ECN broker is to select among the broker with the confirmed regulatory status along with its strong legit obligations. Learn about different type of brokers through SEC website.

Like the regulated brokers you will find in the listing below offers some of the best ECN trading conditions along with applicable standards of operation, transparent conditions and privacy policy.

GO markets– best overall ECN broker 2020

FP markets – lowest spread ECN broker 2020

Exness – best MT4 ECN broker 2020

XM – best ECN broker for beginners 2020

Pepperstone– best for scalping and EA ECN 2020

ECN forex brokers list

These are the regulated brokers that offer ECN trading:

Best bitcoin brokers 2021

The forexbrokers.Com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Now over twelve years old, bitcoin continues to grow and mature as an alternative asset. After peaking at over $18,000 per coin in late 2017, bitcoin retreated in price, then surged back to claim record price highs above $28,000 in late december 2020. As of publishing, the total value of all bitcoin is nearly $500 billion.

This guide explains what bitcoin is, how to buy bitcoin, and summarizes the best cryptocurrency brokers to trade bitcoin cfds.

What is bitcoin?

Bitcoin is a form of public internet money or electronic cash, known as cryptocurrency. It was first launched on january 3rd, 2009 after its design was published in a white paper. Bitcoin’s supply is limited, and every bitcoin comes into existence through mining, where anyone from the public can verify transactions to help secure the network.

Thanks to its use of blockchain technology, all transactions are public. Furthermore, bitcoin is highly-resistant to any form of censorship, and forged transactions are impossible.

Best bitcoin brokers for 2021

Based on over 105 different variables, here are the best forex brokers to buy cryptocurrency, such as bitcoin.

Etoro - best overall for crypto trading

Swissquote - trusted global brand, diverse offering

IG - excellent offering, most trusted

City index - great all-round offering

Avatrade - multiple trading platform options

XTB - best customer service, great platform

HYCM - over 60 crypto cfds offered

Best overall for crypto trading - visit site

Etoro is excellent for cryptocurrency trading and copy trading and is our top pick for both categories in 2021. Furthermore, etoro offers a user-friendly web platform and mobile app that is great for casual investors, including beginners. (75% of retail investor accounts lose money) read full review

Trusted global brand, diverse offering

Traders willing to pay a premium to have their brokerage account held with a swiss bank choose swissquote for its competitive, multi-asset offering. Swissquote's cryptocurrency trading and wallet service are available from its etrading account, but is segmented away from its forex and CFD trading offering. (79% of retail investor accounts lose money) read full review

Excellent offering, most trusted - visit site

IG is the ultimate forex broker, finishing 1st overall in our 2021 ranking. Alongside finishing third for platforms & tools and second for research, IG finished best in class (top 7) for cryptocurrency trading, offering of investments (19,000+ tradeable instruments), commissions & fees, education, mobile trading, and professional trading. (75% of retail investor accounts lose money) read full review

Great all-round offering - visit site

Backed by GAIN capital, city index is a trusted brand that traders choose for its advanced trading platforms, excellent mobile app, diverse market research, education, and extensive range of markets. (73% of retail investor accounts lose money) read full review

Multiple trading platform options - visit site

Avatrade is a trusted global brand best known for offering traders an extensive selection of trading platform options. Our testing found avatrade to be great for copy trading, competitive for mobile, mostly in line with the industry average for pricing and research, and a winner for investor education. (73% of retail investor accounts lose money) read full review

Best customer service, great platform - visit site

As a trusted multi-asset broker, XTB offers traders outstanding customer service and an excellent trading experience overall thanks to the xstation 5 trading platform. 25 cryptocurrencies are offered. (82% of retail investor accounts lose money) read full review

Over 60 crypto cfds offered - visit site

While its storied history is impressive, when it comes to trading forex and cfds across its global brands, HYCM fails to impress. Effective spreads are high across all account options, and research and education are sub-par. That said, HYCM offers over sixty cryptocurrency CFD pairs. (71% of retail investor accounts lose money) read full review

How do you buy bitcoin?

There are three primary ways to buy and sell cryptocurrencies like bitcoin:

1. Buy bitcoin (the underlying asset) - the most common way to buy bitcoin is to buy physical bitcoin from an online bitcoin exchange such as etoro. Your bitcoin is then held and secured in a digital wallet provided by the broker.

2. Buy a bitcoin CFD (contract for difference) - another popular way to trade bitcoin is to use cfds. With a CFD, you do not own the underlying bitcoin. Instead, you are betting on the direction that bitcoin’s price will go, either up or down, and profiting when you are right.

3. Buy an exchange-traded note (ETN) - while far less common and not available in many countries, exchange-traded notes (etns) are very slowly growing in popularity. Etns are similar to exchange traded funds (etfs), meaning they trade like stocks on a formal stock exchange. Like etfs, etns aim to mirror the price of the underlying asset they track. For more on bitcoin etns, including pros and cons, see this guide from xena exchange and this guide from ETF.Com.

How much does it cost to trade bitcoin?

Fees for buying bitcoin can become quite high across many websites and un-regulated exchanges, which is why we only suggest using a regulated broker. While fees may vary to buy bitcoin, the costs will consist of any per-trade commission, along with the difference between the bid/ask price, known as the spread.

The fees to trade bitcoin generally start at anywhere from 0.002% to as much as 2% of the trade value, depending on where you trade and the trade size.

Brokers that charge a commission will usually have lower spreads, while commission-free brokers will have higher spreads to make up for the difference. For example, if you buy $25,000 worth of a bitcoin CFD, with a spread of $50, that would be commission equivalent 0.002% of the trade value. In other words, whether via spread or commission, bitcoin involves trading costs.

What does a bitcoin broker do?

Bitcoin brokers enable you to buy or sell cryptocurrency. Without a broker, you cannot safely trade cryptocurrencies like bitcoin. To avoid scams, using a trusted broker is crucial when you are trading bitcoin.

What is the best forex broker to trade bitcoin?

For bitcoin CFD trading, including the ability to go long or short, we recommend forex brokers such as IG or city index due to their competitive pricing. Conversely, traders who wish to purchase the underlying physical bitcoin will find that etoro is a great option, followed by swissquote bank.

Which forex broker offers the most cryptocurrencies to trade?

Our research found that etoro offers the most cryptocurrency pairs to trade. With etoro, investors can buy and sell bitcoin (underlying asset), trade crypto cfds, and even copy trade other investors. Behind etoro, other crypto brokers that offer dozens of cryptocurrency cfds to choose from include XTB and HYCM.

Which crypto exchange is the safest?

Among brokers offering bitcoin underlying, swissquote, regulated as a swiss bank, is the safest broker. Founded in 1996, swissquote is publicly-traded (SIX: SQN) and regulated in four tier-1 jurisdictions. Behind swissquote, IG is another safe broker for bitcoin trading. While not a regulated swiss bank, IG is publicly traded (LON: IGG) and regulated in six tier-1 jurisdictions.

How much is one bitcoin worth?

Powered by blockchain technology, the price of one bitcoin reached a new all-time high above $28,000 in december 2020. The price gains were mostly attributed to new institutional investors entering the market and buying bitcoin.

I first wrote about cryptocurrencies in 2013 when bitcoin was still a novelty. Yet, as I’m writing this, the combined market cap of cryptocurrencies is over $600 billion, with bitcoin accounting for over 70%. According to data from coinmarketcap, the price of bitcoin fluctuates widely across various trading venues.

Is buying bitcoin risky?

Despite the potential for large gains, buying bitcoin remains risky. The main risk is significant volatility (price swings). For example, if you buy bitcoin and the price drops by a lot, it can create a substantial loss of your money. Adding any leverage (trading with borrowed money) will only further increase the risk when buying bitcoin.

Also, bitcoin remains a complex financial product. Many investors have lost money by losing their private keys, whether through exchange hacks or not securing them properly in self-hosted wallets. Using a regulated, reputable broker is essential for safely trading bitcoin.

How do I know if a crypto broker is regulated?

To avoid scams, you should only use regulated bitcoin brokers. To verify a broker's regulatory status, first, determine the broker's legal name and country, then find the appropriate regulator website to look them up. For example, a broker in the UK must be authorized and regulated by the financial conduct authority (FCA). Here on forexbrokers.Com, we track, rate, and rank brokers across 20 international regulators.

How do you sell bitcoin short?

To speculate that bitcoin's price will fall, you must open a forex brokerage account with a broker that offers bitcoin cfds. Using a contract for difference (CFD), you can open a sell order (bet the price will go down) and then place your trade. To make a profit, the price of bitcoin must fall. If bitcoin rises in price, you will lose money.

If cfds are not available, using a futures or options contract can be an alternative way to bet against bitcoin. However, bitcoin futures and options are very complex instruments, not widely available, and should only be traded by professionals.

Should I buy physical bitcoin or use cfds to trade bitcoin?

If you are a long-term cryptocurrency investor, buying the underlying physical bitcoin is the safest and lowest-cost way to invest in bitcoin. For more active, short term trading, contracts for difference (cfds) can be suitable. Just remember, cfds are not ideal for holding long-term positions (months or years) because the financing charges add up.

Is trading cryptocurrency legal?

In some jurisdictions, cryptocurrency is banned or illegal to purchase, trade, or own. Meanwhile, in other countries, it is perfectly legal. For example, in the united states (US) and united kingdom (UK), it is legal to buy cryptocurrency from regulated brokers. However, cfds are illegal to trade in both countries. The UK ban on bitcoin cfds went into effect on january 6th, 2021.

How do you safely store bitcoin?

If you do not want to keep your bitcoin with your online broker, you need to store it safely. To secure your bitcoin, you must choose a hot (online) or cold self-hosted (offline) wallet.

Personally, for a hot wallet (online, internet-connected), I use blockchain.Com, which provides a mobile and web-based version. For cold storage, I use ledger, a hardware device that allows you to keep the bitcoin private key offline (including creating a backup recovery phrase in written format).

Do I need a broker to buy bitcoin?

Yes, always use a regulated bitcoin broker to buy bitcoin. Using a regulated broker, you will protect yourself from scams, and your bitcoin will be secure. To avoid scams, never buy bitcoin from someone directly on a third-party website or marketplace.

Summary

Here's a summary of the best forex brokers for crypto trading.

Methodology

For our 2021 forex broker review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex risk disclaimer

"there is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." learn more.

About the author: steven hatzakis steven hatzakis is the global director of research for forexbrokers.Com. Steven previously served as an editor for finance magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading cfds, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how cfds, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The forexbrokers.Com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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IG - 76% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

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MT5 brokers

MT5 or metatrader5 is a new evolution of the market-leading generation, widely used MT4 platform developed by the metaquotes that allows multi-asset enhanced trading feature to forex, comoodotoes and now also features stocks and futures too.

Read more about metatrader wikipedia and the official website metatrader5.

MT4 vs MT5

MT5 was introduced back in 2010 and is based on next generation of software whereas the superior tools and comprehensive price analysis that MT4 is known for were brought even further. Various supported execution models are now available in MT5, with included market depth and all possible types of trade orders already in.

Also, the MT5 platform enables more options that were missing in MT4 alike hedging option system with the possibility to go short or long in multiple positions of the same financial instrument, also find advanced in-depth analytics and more.

What are the benefits trading with MT5

There are many good words to say about MT5, as the platform represents an all-in-one concept, offers impressive analytical tools and a modern look with the allowance to open hundreds of charts and perform analysis through truly advanced institutional-grade features.

*MT5 indicators & add-ons or plugins

Another famous feature of the MT5 platform and its previous version is great range of indicators and add-ons with various plugins that designed to enhance your trading capabilities. There is no limitation of indicators as the built-in metatrader MQL market brings the widest place to purchase or rent developed technical indicators.

*MT5 EA & VPN

Well-known and popular trading robots or expert advisors are also enhanced in MT5, as these systems and robots offer copy trading capability and are specifically designed for MT5 and its advanced systems. Actually, one of the most impressive features of the platform is exactly algorithmic trading based on next-generation MQL5, which is not compatible with MQL4.

Eas imply automated trading through specialized applications and match developed environment through metaeditor allowing to choose from or create own parameters.

*MT5 backtesting

One more great feature is that MT5 allows easier backtesting and run of strategies, as MT4 demands to run backtest via VPS or locally.

*MT5 switch brokers.

Likewise, with MT4, you can switch brokers via the MT4 platform, meaning to use the execution venue or broker but operate with your saved layouts or parameters set.

Best metatrader (MT5) brokers

Its freshly developed features indeed enhance the capacity of the platform and bringing a higher level of a trading environment with an answer to the most demanding trading need.

Currently, the brokers offering MT5 are quite many and growing, while our list of MT5 forex brokers may support your particular choice and consists only of regulated brokers that are highly ranked and recommended to trade with.

FP markets– best overall MT5 broker 2020

FBS – lowest spread MT5 broker 2020

GO markets – best MT5 broker for beginners 2020

FXTM – best ECN MT5 broker 2020

Pepperstone– best for scalping and EA trading MT5 broker 2020

MT5 forex brokers list

This is the complete list of regulated brokers offer MT5 platform.

Brokers

What a good broker stands for

Trading forex as a retail trader can be done using an intermediary, and that intermediary is the forex broker. Forex market is so liquid and big that it is virtually impossible for a retail trader to access it without the help of a middleman, namely a forex broker.

Having said that, everyone wants to know what are the best forex brokers as trading is a risky business on its own, without having to worry about the broker you open an account with.

Regulation

The most important aspect that differentiates brokers is whether the broker is regulated or not. Regulation is like a safety net for trader’s funds and in the case, something goes wrong with the broker, like going bankrupt, etc. If the broker is regulated by a financial authority, like the FCA (financial conduct authority) in the united kingdom, then this authority will intervene and solve any issues regarding clients fund with the respective broker.

To pass the strict criteria required to be regulated, best forex brokers invest a lot of money and resources as they know that the only way to attract serious clients is being regulated.

Having a financial authority regulating your business is being recognised for being a trustworthy forex broker, and this matters extremely when it comes to choosing a broker to trade with.

Read our reviews and find out which forex broker is the best for you!

licences	min. Depo	leverage	action
cysec,asic	$25	1:400	review
cysec	$25	1:200	review
cysec	$100	1:400	review
cysec	0$	1:100	review

Segregated accounts

Usually regulation comes hand in hand with segregation of trading accounts. Offering segregating accounts is something any trader should look for when picking a broker. This means that the broker will not use the money one is depositing for other purposes (like paying other people’s withdrawals). Instead, the money is segregated with a bank, and the broker earns from commissions.

Top rated forex brokers are very careful what kind of leverage they are offering to their clients. Because the forex market is so big, one needs a lot of funds to be able to access it. Not the case if you are trading with a broker, as by offering different leverages, the broker gives you access to the most liquid market in the world.

It goes without saying that the bigger the leverage, the bigger the risk of losing all the capital invested, and this is something to be found in every risk disclaimer on any forex broker website.

Leverage

A normal leverage is considered to be anywhere between 400:1 and 500:1 but asking even a bigger one. Best online forex brokers though are not exceeding the 500:1 mark as trader’s funds are important if they are to make a living through commissions. It means that the more the trader trades, the more commissions the broker makes.

Some brokers go so far that are not allowing leverage bigger than 400:1 for the same reasons like the one listed above, and this is one thing that differentiates forex trading brokers. To be clear what leverage means, one should imagine that for every one USD/EUR/GBP, (or whatever the currency of a trading account is) deposited with the broker, one can move up to 400 times more money if the leverage of the trading account is 400:1.

Trading platforms to use

Trading platforms are another sensitive subject in the sense that best forex brokers will always strive to have the best trading platform. The most popular trading platform is the metatrader with its two versions, metatrader 4 and metatrader 5, and there are very few brokers that are not listing it under the trading platforms offered.

Customed trading platforms

However, there are brokers that are developing their trading platform that offers different indicators and performs differently than the metatrader for example. These brokers usually have bigger commissions as they need to cover the costs of constantly upgrading and developing the platform, but it is also a sign that the broker is a serious one and most likely it is on the top forex brokers list.

Living in a digital age, it means trading platforms should adapt to smartphones as well, and this is a must when it comes to mobile trading platforms as well. There is virtually no broker out there that is not offering the possibility to trade on a mobile device. If there is any, then it is not part of the trustworthy forex brokers group.

Typically traders are looking for the most reliable forex brokers when deciding to get involved in the forex market and in a way it is only normal. But trading changed a lot in the last years as online trading allows retailers an easy access to the forex market.

New technologies

New technologies are being invented and developed quite fast, and execution becomes more performant with each and every new invention. To give you an example, there was a time when the spread on the EURUSD pair was no less than three pips, when now, with technologies like ECN (electronic communication network) and STP (straight through protocol), the spread can go as low as 0.1 pips for the same pair.

This allows for faster execution, and the trader is no longer receiving requotes when trading at the market.

Best forex brokers for beginners are the ones that give traders access to educational resources, like free webinars explaining trading concepts, video analysis explaining technical and fundamental factors that influence trading, etc. This is important as traders gain more confidence forex is not that difficult and with the right time invested in learning, profits can be made.

One thing that can be different from broker to a broker is the instrument list offered. They are pretty much the same, being grouped in different categories like majors, minors, crosses, etc. What makes a difference between a good broker and one that aspires for the top forex brokers 2017 for example, is a broker that offers other trading instruments on top of the classical forex pairs.

Instruments offered

Such instruments are CFD’s (contracts for difference), digital currencies (bitcoin, etc.), commodities other than the classical gold and silver, as well as indexes from around the world.

A currency pair is having a bid and an asking price, and this means that if one wants to go short the EURUSD for example, it is selling the pair at the bid price, and when wants to go long on the pair, it is buying the pair at the ask price.

There is a difference between the bid and ask price, and that is being called a spread. As a rule of thumb, the stable the spread, the most reliable the forex broker is, as there is nothing more negative from a trader’s point of view that spreads that go wild randomly.

This is a plus and a must for traders looking for best forex brokers for scalping. Using scalping as a trading technique means the trader is going for small gains in the shortest time possible. Having stable spreads means these small gains are not affected and therefore represent a plus for a broker.

How to stimulate trading

In order to stimulate traders opening a trading account, many brokers are offering bonuses on the first deposit, or they have different promotional campaigns during special dates in the yearly calendar. These bonuses are intended to offer a trader the incentive to open an account and start feeling what trading is as it is well known that one is depositing more than once when starts trading.

Additionally, they offer no deposit bonuses that should allow you to test real trading platform and start your trading without money. Also, some of the brokers offer forex contests or championships, that will boost your real account if you win them!

Funds safety

When it comes to best forex brokers for large accounts, one should look for the upper limit of the segregated accounts offered. For example, if accounts are segregated up the fifty thousand, it means that in the case the broker is busted, only that amount is guaranteed by the financial authority.

However, there are brokers that offer guarantees for larger amounts, and if you ever are trading with more than fifty thousand (this is the normal amount guaranteed), you should look for such brokers.

In order to do that, one can start by reading top forex broker reviews or to look for the brokers eligible to be in the top forex brokers 2017.

Reputation

Off all the things mentioned above, there is none that important as reputation. A broker with a bad reputation will have a difficult time finding new clients and in the end, will be forced to leave the business.

To avoid a broker with a bad reputation, try to look for advice in trading forums and learn from other people’s experiences as this is an important way to avoid partnering with a scam firm.

Usually, such a broker is not regulated as it cannot pass the regulation requirements and it is not making its way on the top 10 forex brokers list.

Top fx brokers can be found when looking for best online forex brokers, though, so the process of identifying a good broker should not be that difficult.

Considering all that is covered here, it is virtually guaranteed that you have all the right information to find a broker that suits your trading style and needs.

Ranking of forex brokers

AVERTISSEMENTtrading presents a risk of losing capital. Be fully conscious.

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Best forex brokers for beginners in 2021

The best forex brokers for beginners offer three essential benefits. The first, and most important, they are a regulated and trusted brand that offers a user-friendly web-based platform. Second, they provide a strong variety of educational resources. Third, they provide access to quality market research.

In our review of forex and CFD broker offerings, we spent endless hours opening demo accounts, navigating forex platforms, conducting market research, testing website usability, as well as watching educational videos and webinars.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65-82% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

What is forex trading?

Forex trading is the process of exchanging one currency for another, known as buying or selling currency pairs, based on prevailing exchange rates from the forex market. The forex market is the largest global market, with nearly $6.59 trillion in currency traded on average, per day.

What is a forex broker?

When it comes to trading foreign currency, you use a forex broker, also known as a currency trading broker, to place your trades. When you trade forex, you buy or sell in currency pairs, e.G. "EUR / USD" (euro / U.S. Dollar). You open an account, deposit funds, then use the broker's trading platform to buy and sell currency using margin. The forex markets are open 24 hours a day, five days a week.

To learn more about the basics of trading forex, we recommend the school of pipsology alongside the NFA's trading forex booklet.

The best forex brokers for beginners

Here's a summary of the best forex brokers for beginner forex traders.

Plus500 - best for beginners overall

IG - excellent education, most trusted

Etoro - best trading platform for copy trading

Avatrade - quality educational resources

CMC markets - best web trading platform, excellent education

XTB - best customer service, great education

OANDA - quality research, user-friendly platform

Best for beginners overall

Plus500 is a trusted global brand that offers retail forex and CFD traders an easy-to-use platform and a thorough selection of tradeable instruments. While educational materials are limited, the plus500 web-based trading platform is extremely user-friendly, making it excellent for beginner forex and CFD traders. Disclosure: being good for beginners does not mean it is easier to make money. Trading is risky. (76.4% of retail investor accounts lose money) read full review

Excellent education, most trusted - visit site

Regulated and trusted across the globe, IG offers traders the ultimate package of excellent trading and research tools, industry-leading education, competitive pricing, and an extensive list of tradeable products. This fantastic all-round experience makes IG the best overall broker in 2021. (75% of retail investor accounts lose money) read full review

Best trading platform for copy trading - visit site

Etoro is excellent for social copy trading and cryptocurrency trading, and is our top pick for both categories in 2021. Furthermore, etoro offers a user-friendly web platform and mobile app that is great for casual investors, including beginners. (75% of retail investor accounts lose money) read full review

Quality educational resources - visit site

Best web trading platform, excellent education

When it comes to education, CMC markets competes with the best in the industry by offering forex and CFD traders a diverse selection of education in a variety of formats, including written articles, video updates, podcasts, and live webinars. Education aside, the CMC markets next generation trading platform is fast, reliable, and comes packed with tools and features. (76% of retail investor accounts lose money) read full review

Best customer service, great education - visit site

As a trusted multi-asset broker, XTB offers traders outstanding customer service and an excellent trading experience overall thanks to the xstation 5 trading platform. I was left impressed with XTB's education offering, thanks to its extensive written content and video materials. The only drawback is a lack of live webinars currently, although archived recordings are available. (82% of retail investor accounts lose money) read full review

Quality research, user-friendly platform

As a trusted global brand, OANDA provides forex and CFD traders a limited offering of FX pairs and cfds but stands out for its reputation and quality market research. OANDA's trading platform suite, fxtrade, is easy-to-use for new forex traders. OANDA provides a good balance of educational materials in both written and video formats, along with webinars conducted by its staff. (73.5% of retail investor accounts lose money) read full review

Educational materials comparison

Taken from our forex broker comparison tool, here's a comparison of the education features for the best forex brokers for beginners.

Feature	plus500	IG visit site	etoro visit site	avatrade visit site
has education - forex	no	yes	yes	yes
has education - cfds	no	yes	no	no
client webinars	no	yes	yes	yes
client webinars (archived)	no	yes	no	yes
videos - beginner trading videos	no	yes	yes	yes
videos - advanced trading videos	no	yes	yes	yes
investor dictionary (glossary)	no	yes	yes	yes

How much money do you need to trade forex?

While some forex brokers do not require a minimum deposit to start trading forex, most do. Unless opening a demo account, which uses virtual money to practice, most forex brokers require a minimum deposit of between $100 - $250 to start trading.

What are the most popular currency pairs?

The seven most frequently traded currency pairs (also known as the “majors”) are EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD, and USD/CAD. Approximately 85% of all forex trades take place across these seven pairs.

Can you get rich by trading forex?

While some forex traders will be able to get rich trading forex, the vast majority will not. Forex trading is risky. Historically speaking, several hedge fund managers have been able to get rich trading forex. For example, george soros made over £1 billion in profit by short selling the sterling in 1992.

How do I start trading forex?

First, it is important to practice. Start by opening a demo account so you can get used to the trading platform and tools. Reading books is also important to learn how to conduct market research and perform technical analysis. Then, when ready, open an account, fund it, and start trading.

How do I choose a forex broker?

To select a forex broker, start by looking for brokers that are regulated in your country. Next, read full length forex reviews to assess the trading costs, tools, research capabilities, customer service, and other features of each forex broker. Finally, compare your top two choices side-by-side to decide on a winner.

Which forex brokers accept US or non-US clients?

Forex brokers who hold regulatory status in the US can accept US-based clients. Meanwhile, forex brokers who accept non-US clients will usually need to hold licenses in the countries where their clients reside.

For example, if you reside within the european union (EU), you will be able to open an account with an EU-regulated broker. In contrast, if you live in a US state, you will need to open an account with a US-regulated broker.

The best forex trading platforms for beginners

Plus500 - webtrader

IG - IG web platform

Etoro - etoro copytrader

Avatrade - avatrade webtrader

CMC markets - next generation

XTB - xstation 5

OANDA - fxtrade

Methodology

Forex risk disclaimer

About the author: blain reinkensmeyer as head of research, blain reinkensmeyer has 18 years of trading experience with over 1,000 trades placed during that time. Referenced as a leading expert on the US online brokerage industry, blain has been quoted in the new york times, forbes, and the chicago tribune, among others.

Plus500uk ltd is authorised and regulated by the financial conduct authority (FRN 509909).

IG - 76% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

So, let's see, what we have: list of top 25 the best forex brokers in 2021 for buy sell major currency, lets compare our fully regulated online trading company and platforms. At what are the best forex brokers