Forex trading is one of the most lucrative and risk bearing businesses in the world, yet very profitable. This business is less stressful but time consuming, it requires great tactics and attention. Only few people focus on this trade because of the circumstances that circumvent it.
Forex trading is the buy and selling of foreign currencies via a platform controlled by a broker. The platform of the broker is the market place of the business. The role of a broker in this business is very crucial, a broker houses all the currencies and leads the transactions. Some people jettisoned the business as a result of the dubious or unholy activities of the broker, thus, leading to great mishap.
A broker account is the first asset to acquire in the forex trading, so, choosing a broker requires several and countless scrutiny of the available or intending broker. Series of consultations and underground research have to be done to test the reliability and diligence of the broker in question. However, there are registered brokers all over the world that one can easily register with. These brokers were certified based on their high level of professionalism, experience, diligence, reliability and testimonies from clients and records. Below is the list of top ten (10) brokers in the world, with good trading record and user friendly platforms:
This is the leading Forex Brokers in the world, this firm has taken the crown since 2006. FXPro truly exhibits professionalism in her services, FxPro is a UK based company authorized and regulated by the UK Financial Conduct Authority with the registration no. 509956. FxPro Financial Services Limited is authorized and regulated by the Cyprus Securities and Exchange Commission with the license no. 078/07. This are what a clever investor should always look out for, the reliability of this broker is far above doubt and it is highly reputed.
Alpari is another forex trading platforms with good reputation. They are successful brokers with good experience, they were once awarded as the “Company of the Year on the Forex Market”. They offer diligent services with flexible conditions. They are regulated by the CYSEC with minimum deposit of $200, they do not give trading bonus and also do not accept USA traders. They offer Demo forex account for neophytes in the forex trading business to get themselves familiar with the system.
Markets.com offers a customer friendly broker service, they are among the leaders in the broker game. They are fully licensed by CySEC and FSB. They are operated by Safecan investment limited. Traders on this platform enjoy numerous benefits, with a minimum deposit of $100, a trading bonus of $25 is awarded to all traders at all levels. Just like the Alpari, They do not accept US traders and offer a Demo account for new traders. They offer several beneficial services like exclusive market analysis and news, live webinars, seminars, ebook and video libraries, in addition to free 1-on-1 personal training with personal account manager, all these are to ensure successful transactions across their platform.
Etoro is one of the biggest brand in the forex industry, it is a social trading and multi asset brokerage, with many years of experience. They have over 4.5 million registered forex traders. This firm is a big firm with huge benefits. They have registered branches in Cyprus, Israel and the United Kingdom. One distinct feature about their service is that they allow traders on their platform to watch the financial trading activities of other users, learn from them, before making their own trades.
The minimum deposit on this platform is $200 with $1000 trading bonus on every successful transactions. Their operation is regulated by NFA and CYSEC, they do not accept USA trader and also offer Demo account services. This platform houses huge deals.
This is the safest platform where Forex, commodities, CFDs & indices are traded. This platform has high security profile with multiple trading platforms. They have over 100 thousand existing traders, the most fascinating thing about this firm is that they are one of the major sponsors of Manchester City Football Club in England, thus, adding to their credibility. This platform accommodates all users with no precise amount of minimum deposit and offers 100% bonus on every trading. They are regulated by CYSEC and FCA and do not accept traders from USA.
6. XM Broker
XM Broker is one of the most secure and user friendly broker platform. This platform is the best place for a new forex trader and has over 500 thousand clients. This company is based in Cyprus at 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor 3042 Limassol, Cyprus. Their activities are managed by Trading Point Holdings Ltd with the registration number: HE 322690. This platform has no minimum deposit and offers a $100 trading bonus to traders on every successful transactions. Their activities is regulated by CYSEC. They offer a Demo account with $100,000 virtual currency, this justifies their simplicity and customer friendliness.
This Forex Broker was established in 2003 by the XTB Limits. This platform has standard touches in all its business activities, with over 10 years of forex trading experience, it has been bringing up innovative deals to stay ahead the pack in the business, such as the development of software that support both mobile and web based trading. With $100 minimum deposit and 60% trading bonus on every transaction, this platform has been reputed one of the best brokers so far. it is regulated by the CYSEC and offers a demo account. This platform does not accept USA traders.
This Forex broker was founded in 2006 by the Ava Capital Markets Ltd, a subsidiary of Ava Financial Ltd, AVATrade has its headquarter in the British Virgin Islands. This firm is one of the best and most reliable forex brokers in the world. It is regulated by the Irish Authority (MIFID) and ASIC. AVATrade offers a minimum deposit of $100 and 40% trading bonus, with Demo account for new users. This platform supports both web and mobile trading with a world class customer support service that is available 24hrs, but does not accept traders from USA.
9. ForexTime.com (FXTM)
This is a new but one of the leading Forex brokers with many awards of excellence as a result of their innovative trading. Founded in 2012 by Andrey Dashin of the Alpari forex broker, it is the fastest growing forex broker in the world. FRTM is presently operating in over 180 countries with a headquater of five storey building in Cyprus. It supports both mobile and web trading with flexible trading tools. It is regulated by CYSEC and offers minimum deposit of $5 and 200% and above trading bonus with a Demo account for new traders. This platform doesn’t not accept USA users too.
This is a Russian based Forex broker that operates in Asia and has offices in London and several parts of the world. This firm is highly reputable and has won several awards as one of the best forex broker in the world with licenses in Brokerage, Dealing and Capital Management Services from the Russian Federation. This firm is very open and secure as it offers a minimum deposit of $1 with $250 trading bonus on every transaction and also offers a demo account. This platform has many monitoring tools for easy and secure Forex trading. It is regulated by FFMS and doesn’t not accept US trader.
Forex trading is a life time investment that requires proper monitoring to curb fraudulent practices, to achieve this, it is advisable to register with reputable brokers.