If you are looking for that Euro currency, you will go the high US, and you want to go in trading that money is good. Forex trading is now in trend. The largest market in the world. It works five days a week for 24 hours.
A forex broker is required to trade. If you want success in the international market, then the broker is compulsory. These brokers have detailed knowledge of forex trading and have tools and research requirements.
When looking for the best broker for Forex, you need to narrow your requirements to which investment style you use, features, and what type of broker is required. Here are some best forex brokers
Plus500
Plus500 was established in 2008, and it is popular because this company is the sponsor of Atletico Madrid football club. Investing in Plus500 is very safe and secure because it is offered by Plus500 UK Ltd and is regulated by UK Financial Conduct Authority, VYSEC, MAS and ISA.
It is successfully working in more than 50 countries, and it is the choice of many people.
PROS:
- It is regulated by FCA, MAS, ASIC and ISA
- You can trade on more than 2500 CFDs
- No commission fee
- Easy to use platform
- Customer support is available 24/7
CONS:
· No mobile number is available
· No education is provided to traders.
XTB:
XTB is the most popular and award-winning CFD platform in the world. It provides a wide range of instruments, including Forex, indices, ETFs, and stock CFDs. Supply 48 currency pairs with low-cost spreads and offer low-cost spreads. Additionally, both the MT4 and MT5 platforms are available. This brokerage provides leverage of up to 200:1 for accounts that are leveraged.
PROS:
- Support MT4 and MT5
- Support a large number of tools
- Low spread
Cons
- Support few pairs while competitors support more pairs
- There is no 24.7 customer support service
Saxo Capital Markets
Saxo Capital was established in 1992 by the Saxo Bank group. Traders can access more than 40,000 products in Saxo for high performance. It provides all news and education that is needed to trade for traders. At Saxo Bank, you can manage market turns through the use of handpicked investing themes, expert market commentary, notifications sent to your phone, charting tools, and educational seminars. Saxo capital market is the award-winning company at Investopedia in 2020.
Pros
- Provide a huge variety of services
- FCA regulates it
- It also offers protection to the clients account
- Provide the best interface
Cons
- Low-quality customer support service
- No facility for US clients
- Doesn’t support MT4
FAQ
Do I need a broker for Forex?
Yes, your need a broker for investing in Forex. Because the broker knows how to invest and what tools and requirements are required. It should keep in mind that the broker should be trustworthy.
Are forex brokers reliable?
The broker reliability scores 90 percent on Forex. But it would help if you were careful while choosing a broker.
Can I trade Forex without a broker?
Yes, you can trade on Forex without a broker. But it would help if you had all financial tools and skills for investing in Forex
Final words:
You have to go through the best broker in Forex. Choose the broker that suits your requirements. Our choice is the Saxo capital market. It is overall best.
The best broker is one who is well regulated and demands low commission and spread. So it is better to do research work before getting in.
