Best Forex Brokers 2021
Let's have a look at them:. The trading cost of a broker is calculated by adding all the factors together. The two most important factors are the spreads and commissions. Spread is the difference between the bid buy price and the ask sell price of a specific currency pair. You buy EUR at 1.
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The difference here is 0. Each broker will have different spreads for different currency pairs. As a result, all traders want to trade with brokers who have very low spreads on the major currency pairs. When you trade regular accounts, brokers charge you spreads. But when you trade ECN accounts, the spreads are nearly zero, which means the brokers have to charge something else.
And it is commission. If you want low trading cost, you should choose brokers who have low commission. Here are the lowest commission in the market. To maximize your profit, you can use leverage. Traders use leverage to multiply their profit. When you use leverage, broker will keep an amount of money from your fund in order to prevent you from losing more than you can pay.
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The margin will return to your account when that trade is complete. Leverage multiply both your profit and loss. When you start to lose almost all of your money. A margin call will appear to let you know that and you trade is closed automatically. Here are the brokers with the highest leverage in the market:. Of course when you want to start trading, you have to deposit some money in. It's not free.
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You know that, right? This is when beginners get nervous. That's why brokers with low minimum deposits are appreciated. Here are the lowest minimum deposits rate of each of my favorite brokers:. Overnight fee, or professionally called Rollover or Swap, is an amount of money you have to pay when you keep your positions open overnight. It's important to know about this fee because I know some traders who were confused when their winning positions suddenly became losing in the morning. The brokers automatically charge this fee every time the US session closes.
Scalpers or Day traders don't care about swap because they close all their position in a trading day. Long-term traders, on the other hand, always want to pick brokers with low swap. Every broker must have 3 types of account for all levels of trader beginner, experienced, expert. Those 3 account types always are: demo account, regular account, and ECN account. All 10 brokers I pick have these account types. If a broker doesn't have one of these accounts, it is probably not a real broker.
Besides regular accounts, there is ECN account. ECN account is perfect for experts and professional traders. They trade a lot of money everyday so they need an account that have low prices, high security, low slippages, great trading platform, and fast payment system.
Here are the names that check out the list of the best ECN brokers:. They are developed by the company MetaQuotes Software. Hundreds of brokers use these two platforms and they are very familiar to the majority of forex traders. They are easy to use. They come with a lot of indicators and chart drawing tools that can help you do your best in forex trading. Here are the best forex brokers who use the MetaTrader platforms:. On the other hand, there are brokers who design their own platforms for customers.
With their own platforms, they can customize and make features as they want. These platforms are mainly user-friendly, nicely designed, and packed with exclusive tools and features. We have traded with them all and pick out our list of the best self-designed trading platforms:. The strength of the server is quite important to your trading at a forex broker. It affects directly to the slippages.
2021 Rankings
Slippages happen when you put in a price for a trade but the platform processes it for too long that the market price has changed. The difference between the old and new price is slippage. Slippage makes you lose your great chance in trading and easily upset traders. To avoid slippages, you should choose brokers with strong servers so your orders can be proceeded faster.
Here are the brokers with the fastest and most stable server:. A version of trading platform is social trading platform. Exness released its exclusive social trading platform early this year. I have tried it for 6 months now and I must say, it's really impressive. Exness social trading platform lets you copy the trades of the top forex traders these days for free. You can easily earn money just as the professionals do it.
Since Exness is one of the biggest forex brokers, the traders there really focus on stable and long-term profit, not just some short-term goals to lure beginning followers. They are ranked according to different criteria like profit percentage, risk score, and commission. In some countries where there are no local brokers, traders must look for the best online forex brokers. When trading online with foreign brokers like this, traders mainly look for security.
As I said before, security can be proven through forex regulations. After a reliable forex broker has proven their trustworthy, traders now look for low cost, good trading conditions like normal. Here are the best online forex broker ranking Fast and no-limit payment system is the best.
Best Forex brokers 2021
We deserve to get our profit and deposited fund quickly. I knew some brokers try to reject our withdrawal if we withdraw too much. Because they don't have enough available money for the withdrawal. And if they keep you money too long, you may lost all your fund in trading forex. So, don't trade with these brokers. I have traded with many brokers and Exness has the best payment system. All transactions are instant.
You can get your money within seconds. You also can withdraw in the weekends. There are many free-of-charge and local payment systems that all are instant and free. Exness payment system Check here. Bonuses are very attractive to traders worldwide. You can use deposit bonus or welcome bonus to test a broker for free. Only small and medium traders like forex bonus. Here are the best forex bonus of all the brokers we can find:. Needless to say, customer service is one of the most important when doing business since business is all about people, trust and profit.
They are almost always in need of professional help as well as advices on how to make money safely. I f they have an office in your country, they are the more reliable. Each broker has their targeting countries. And they only open office in countries where they are popular. They can only be popular in your country when they offer you the best services and the most competitive conditions if you have a forex brokers comparison.
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Moreover, when they have office in your country, they will support you faster. If there is any problem, you can get support from their offices. If they scam you, the law will protect you. But, it doesn't mean brokers who don't have office in your country aren't reliable. As I mentioned above, the brokers in the top biggest forex companies with the above regulations are trusted enough. If they have offices in your country, they are even better. For countries that don't have regional offices, they offer support online as well as via phone in English or your native language.
The language support is very crucial to traders who want to work with the best forex brokers in Asia because those traders may not be very good at English. Here is the brokers list of those who can help you in different languages.