In this video we will talk about the top 5 forex brokers in the market.
Finding good forex brokers to trade these days is not as tough as it used to be a decade ago, that most forex brokers were fairly unknown to the public.
The internet has helped tremendous to determine the good one versus the scammy forex brokers, which unfortunately have risen with the pass of time. Today there are hundreds of Forex brokers out there but there are a few that stand above the others for their services.
So lets get to it and check the top 5 forex brokers that a trader can join today:
XM group was founded in 2009 and has since grown to become one of the most well-known and established international investment firms in the world. Today XM as Broker has over 3 million clients with traders to be spread in 196 countries and provides support in more than 25 languages. The group has won quite a few awards the past years such as the: Global Forex Broker of the year, the Most trusted Asian Forex Broker and Best Forex Broker for Australia and Europe.
XM is regulated under Australian Securities and Investments Commission- ASIC, the Financial Service Authority in London , the International financial commission authority in Belize and Dubai Financial Services Authority (DFSA)
XM Clients can trade more than 1500 instruments across seven asset classes.
Those include forex, individual stocks, precious metals, commodities, energies,equity indices and cryptocurrencies.
To do that the broker offers 4 different types of accounts: the Micro, Standard, XM Zero and XM Ultra Low. The minimum amount to open the accounts varies from $5 to $100.
When it comes to deposits and withdrawals XM accepts a range of credit and debit card payments on top of payments through e-wallets. These will depend on the country in which a trader lives and not the regulatory jurisdiction they fall under. To be more specific and to name a few It accepts payments from Visa, MasterCard, Maestro, Neteller, Skrill,Stickapy, Perfect Money and also bank wire transfers.
Currently the broker offers a few bonuses but those depend once more on the location and jurisdiction your country falls under.
An additional strong point for XM, is their exceptional customer service, which offers support to more than 25 languages and serves clients from 196 countries according to their website. A live chat widget, email and telephone number are offered as standard to clients of all account levels.
These support services are available from Monday through Friday or 24/5. Any requests put forth during the weekend will be addressed on the next business day.
IG is one of the Forex Brokers that was founded in 1974 and actually built the concept of financial spread betting that introduced online dealing as early as in 1998. Currently, the company offers access to more than 15,000 global markets, it features global presence in more than 15 countries serving more than 200,0000 Clients. In 2019 IG brought their FX service to the US giving people access to over 80 currency pairs.
IG is on of the best regulated Forex Brokers in the industry with more than 10 Regulatory authorities.
IG Clients can trade more than 8,000 instruments across 10 assets classes, with Forex, Indices, Commodities, Stocks, ETFs and Crypto to b among them.
The broker currently supports a 3 trading platforms, such as the IG’s trading platform, ProRealTime (PRT), L2 Dealer or the popular MetaTrader 4 (MT4).
The broker also offers direct market access for professional traders who would like to deal directly into the order books of major equity exchanges.
When it comes to account types they vary depending on the location and the markets available in the region: these are CFD, Spread betting and Share dealing account.
But in general the accounts offered are the standard account for retail day traders, and more premium accounts for high net worth traders, plus a specific professional account.
In addition to the two accounts offered, advanced traders have the ability to open a DMA account which enables them to trade market depth via the use of algorithms. As well, this gives traders the option to participate in pre-market and post-market auctions.
When it comes to deposits and withdraws IG offers three options based on their website.
Traders can deposit funds through Debit cards or credit cards and Wire transfers.
Last a very strong plus for IG is their customer service, the broker has won multiple awards for its customer support over the years.
Traders can expect responses in a number of different languages. The direct support options available are live chat, email, telephone, and social media. Their support desk is available around the clock Monday to Friday and from 9:00 am – 5:00 pm on weekends (UK time).
IC Markets is an Australia-based global forex brokers that was founded in 2007. The company has several branches and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC).
Currently, IC Markets offers its users over 1700 instruments to trade, including forex pairs, commodities, indices, stocks , bonds , Cryptocurrencies, and Futures.
The broker offers three main account types that are featuring the same compatibility and power provided by the company, yet are designed to meet the expectations and needs of different trading styles.
The first two accounts, are both called Raw Standrard and offer spread conditions and commission charged per trade.
The main difference between the two is that one is offered for the MT4 platform and the other for cTrader. Both are available in multiple currencies, up to 10, and are fully segregated from the company’s funds.
As you probably realized IC Markets offers the full suite of MT4/MT5 and cTrader trading platforms. It also presents its MT4 Advanced Trading Tools upgrade which consists of 20 unique trading tools, ensuring traders have a competitive edge. Additionally IC Markets enables copy trading via Myfxbook Autotrade and ZuluTrade, while MT4 / MT5 also has an integrated copy trading platform.
When it comes to funding your account IC offers a variety of methods with some of them to be : Credit or Debit card, Paypal, Neteller, SKrill, Union Pay, Fasa Pay, and wire transfer.
Last clients can contact customer service via live chat, phone and email 24 hours a day for all 7 days of the week. They support more than 10 languages at the moment.
Avatrade, which was found in 2006, is a multi-national company with regional offices and sales centers in Paris, Dublin, Milan, Tokyo and Sydney. It is one of the Forex Brokers that is been regulated under several jurisdictions. Today the broker has more than 300,000 registered customers globally, executing more than two million trades a month.
Avatrade clients can trade over 1000 instruments across 7 assets classes, those are Forex, Stocks, Commodities, Cryptocurrencies, Indices, ETFs and Bonds.
What is interesting about avatrade and different from the other brokers on the list is the fact that the broker offers the same type of account to all its users.
Avatrade supports the traditional MT4 , MT5, and its own platforms Ava trade webtrader and AvatradeGO which is an application to trade from your mobile phone.
When it comes to deposits and withdraws Avatrade offers quite a few options those are : Visa and Mastercard , Wire transfer, Paypal and the following e-wallets: neteller, Skrill, Klarna and Rapid Transfer.
Last Users can contact customer service via email, phone, and wahtsapp,The services are available 24 hours a day for 5 days of the wee, starting on Sunday at 9 PM GMT to Friday 9 PM GMT.
We have created a dedicated video review and tutorial for the broker , you can find them both on the video cards.
Capital.com is a global CFD broker founded in 2016. It has offices located in the United Kingdom, Cyprus, Australia, and Gibraltar
The Broker is well regulated by various Financial authorities across the globe and has more than 345,000 active traders with more than 78.000 to be active on a monthly basis.
Capital.com clients have the option to trade more than 5,000 instruments across 5 asset classes, those are Forex, Indices, Commodities, CFDs and Cryptocurrencies.
The broker offers the same type of CFD trading account type to all traders. Those are 0% commission accounts with tight spreads. A professional account upgrade is available to qualifying traders, and UK-based clients have the option to opt in for a tax-free spread betting account. Last, a share investing option is also available, ideal for long-term strategies without using leverage.
Capital.com offers a native trading web and mobile platform as well as the traditional Metatrader 4.
When it comes to deposit and withdrawing funds, Capital.com offers a decent amount of well known services, such as Wire transfers, Bank Cards, like Visa Mastercard and Maestro. One plus for the broker is the acceptance of Paypal and Apple pay.
Clients can conduct customer support, through email, chat and phone number. Their service is available 24/7.