The Forex market is full of brokerage companies, and it is very hard to pick out the most convenient option, even for the most experienced traders. However, there are several brokers that really stand out among others with their high-class features, and we are going to point out some of them in this article. Experienced traders are aware of the core principles of choosing the proper Forex broker, so we have decided to make the list based on the most prominent aspects. Hence, you will come across the most trustworthy options that provide an array of exciting attributes.
Interactive Brokers is one of the oldest companies established back in 1977, and it has operated with tremendous success throughout the years. As of today, one of the most important features of Interactive Brokers is account types. They are useful for both novice and expert traders, so you are able to opt for the most suitable one. For starters, the broker offers demo accounts in order to give newbies a chance to learn everything about trading with the help of virtual money, but they will hardly be necessary for professionals. Expert traders can take advantage of Pro and Lite accounts on this broker, and it is worth noting that the latter offers access to unlimited and totally commission-free trading on US exchange-listed stocks and ETFs.
IBKR Pro account is an excellent resource for experts who want to trade higher volumes and experience everything that financial markets have to offer. What’s more, you can utilize the flagship trading platform of Interactive Brokers, called the Trader Workstation, WebTrader, and the API platforms offered by the broker. Also, the broker provides an Islamic account in order to give Muslim traders the opportunity to trade without having to pay or receive interest rates on any of the positions they open in the market. All in all, you have to pick out the most convenient options according to your preferences.
Pepperstone was launched in 2010 by Australian traders, and today, it is one of the biggest Forex brokers in the market. It offers customers an array of financial instruments to choose from, including Forex, shares, cryptocurrencies, indices, and commodities to trade. The good news is that the majority of the assets available on Pepperstone can be traded as CFDs, which allows traders to make profits without having to buy the underlying assets. When it comes to Forex trading, Pepperstone offers over 60 currency pairs consisting of major, minor, and exotic ones. The Forex trading leverage on Pepperstone is 1:30.
Moreover, you will come across over 1,000 shares of leading companies residing in various countries such as Australia, the US, the UK, Germany, and many others. The users of Pepperstone have the opportunity to trade shares with leverage up to 1:20. As for commissions, they start at just 0.02%. When it comes to indices, there are over 30 of them available on Pepperstone with leverage up to 1:20. In terms of commodities, you will come across Gold, Silver, Platinum, Crude Oil, Cocoa, Wheat, and several others, whereas Pepperstone also provides access to various digital coins such as Bitcoin, Bitcoin Cash, Dogecoin, etc…
Tickmill is a relatively new Forex broker established in 2014, but it has quickly managed to gain enormous popularity among traders from all parts of the world. There are various factors inducing such a high customer engagement, but mainly because Tickmill offers the industry’s leading trading software. Hence, you will come across both MetaTrader 4 and MetaTrader 5 on this broker, which can be accessed by all types of devices such as laptops, tablets, and smartphones. It is a well-known fact that MetaTrader tools include a large number of indicators and charting options, thus Tickmill decided to implement them.
You will have the possibility to gain more control over your funds with the help of trading tools, charts, panels, and indicators. The great news is that MetaTrader WebTrader Platform can be accessed directly within the browser and no additional downloads are required. As for the applications, it is worth noting that they work for both iOS and Android systems, so pretty much everyone can take advantage of them. Keep in mind that we are dealing with the top trading software, and both MT 4 and MT 5 will provide the highest quality of performance in terms of trading.
FxPro is one of the most famous brokers in the Forex market operating since 2006 at high levels. Apart from providing a wide range of high-quality features, we have to note that FxPro has become popular with its security measures. It should come as no surprise that trading is connected with huge risks, and you might end up completely losing your funds when your brokers are not reliable. FxPro understands this fact very well, so they have decided to partner with the industry’s leading regulators such as the Cyprus Securities and Exchange Commission, the Financial Conduct Authority of the UK, the Financial Sector Conduct Authority in South Africa, and the Securities Commission of The Bahamas. Therefore, you don’t need to worry about anything since there will always be room for disputes in case you encounter some kind of unlawful behaviour on their end.
What’s more, FxPro provides negative balance protection to all types of account holders in order to further ensure safety. The broker offers automatic Stop Out levels in order to prevent losing more money than your available balance when trading CFDs with borrowed money. Also, in case your balance will still becomes negative, you have the possibility to reach out to customer service, and they’ll turn the negative to 0 as soon as possible. It is worth noting that by being a member of the Financial Services Compensation Scheme (FSCS) and the Investor Compensation Fund (ICF), FxPro ensures that all your money is in safe hands. Lastly, you have to know that the broker keeps your deposits in segregated accounts in order to avoid losing money even when the broker itself goes bankrupt.
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