How to select a best forex broker? Top Rated best Forex Brokers in the world

Top rated best Forex brokers are not hidden or secret. If traders or beginners in this field think that only a very few specially selected people can actually trade on a proper and reliable platform, it is a misconception. All Forex brokers, for better or worse, are free to use for any trader, regardless of experience, budget or investment. The secret to finding the safest and best Forex brokers is knowing where to find them and how to find them. It can be called a filtering process, but it has nothing to do with luck or being specially selected. Because there are top rated Forex brokers to find. You may have even seen them, but you missed them! However, from now on you will not make any more mistakes or miss any opportunities because you will find only the most reliable systems to trade with, simply by following our guide and listening to our recommendations.

Best Forex Brokers – What are they?

Whether your main goal is to find best Forex broker or to get a list of all the top-rated trading brokers, you need to know one thing – there are so many brokers out there and it is impossible to list them all. You need to develop the skill to recognize if a broker is really good when trading so that once you have read the broker reviews you can be confident if it is one of the good ones or if it is a risky choice or maybe a scam. The way to develop that skill is not that difficult. All you need to do is follow our guidelines and you will be signed up with the best Forex broker in the world in no time. Here is what you can expect from the best Forex brokers:

Regulations

You should only choose regulated brokers, as there are mandatory standards that brokers must follow and adhere to. These standards are not set by the brokers themselves, but are given by professional third-party organizations. These third-party organizations are nationally selected by the government or other special national organizations. For example, reliable brokers based in Cyprus are always regulated by CySEC. These third-party organizations are also responsible for the licenses that brokers need to be officially listed on the market. Without this license, the trading platform will be a scam. Make sure that your broker has the license and the proper regulations.

Reputation

A good Forex broker will have a good reputation. A broker’s reputation depends on many things, but mostly on its company image. Any broker is owned by a certain financial service provider, and if it is not perceived as reliable, you will eventually see negative comments being made about the trading site. But company image is not the only thing you need to consider. Similarly, there are hundreds of websites that provide rating charts about trading platforms. These ratings are made by customers of a particular platform, by real traders discussing in forums, or by experts who have the necessary quality and experience to comment on official trading websites.

Trading Platform

A reliable trading platform is also a must for a broker to make it worth your while to use them. If a broker uses unknown software, it will be ignored by most traders, especially beginners. Of course, if a trader is experienced enough, he will first check how reliable the software is. But usually, a broker’s platform should be run by the most innovative software products like WebTrader or MetaTrader. But this is not the only factor to keep in mind. Nowadays, customers are demanding more from their brokers and they want a platform that also allows mobile trading. In most cases, this is possible if the broker has an official mobile version or offers an app specially made for tablets and mobile devices. Mobile trading is useful for traders because it offers them the opportunity to trade on the go, which means they will never miss an opportunity to trade in line with the latest market movements. Busy people in fast-paced days prefer mobile trading over the traditional desktop experience, so a reputable broker has both the traditional desktop platform and a good mobile app.

Trading characteristics

Great trading features are also offered by the best Forex brokers in this field. This is where different trading options come into play. For example, beginners look for brokers that offer learning centers and automated signals, while more experienced and advanced traders prefer sites that offer live streaming channels that deliver the latest news. Experienced traders will surely be pleased if hedging and scalping are also available. Trading features also include profitable spreads, high payout percentages, availability of all trading assets such as stocks, currency pairs, indices, and commodities, as well as educational materials and modern approaches to this fast and secure activity.

Payment Method

A variety of payment methods for offers is a good feature of a broker. Payment methods affect both your investments and profits. Every broker has its own minimum deposit requirements, so making a deposit is necessary to trade with a broker. Therefore, if you are a beginner, you will definitely appreciate a broker that offers low deposit fees. Withdrawals are the process of taking out profits, and you should keep in mind that each broker has its own requirements regarding withdrawals. There are usually regulations on both maximum and minimum payment amounts, as well as how often you can claim your profits. In some cases, brokers limit withdrawals to a certain period of time, such as weekly or monthly. There are also sometimes fees for deposits and withdrawals, but the top-rated brokers usually do not charge any extra fees. As for the payment methods themselves, the more they are offered on the platform, the better. That way, traders can choose the one that suits them best. Payments through interbank wire transfers as well as debit and credit cards are common and can be found at any broker. However, today most traders prefer electronic payment systems such as PayPal, Neteller,WebMoney, Skrill, Moneybookers, etc. If these are offered, the broker will have more customers.

Bonus

The bonus system is the second thing traders usually consider when judging a broker. We don’t think that Forex bonuses should be the main feature you look for, but we agree that it is important. We mention this because there are many new brokers out there who have a reputation for scamming new clients by offering huge bonuses to bring in more contracts. The same thing happens when a broker starts to lose its reputation, and to retain existing customers or to get rid of negative feedback about their platform, the company offers special promotions. Don’t fall into this trap. Bonuses are great – especially bonuses like no deposit bonuses and refer-a-friend programs – but they should not be the only way to determine your opinion of a broker without considering the rest of the features we mentioned above.

More benefits than drawbacks

Most of the best Forex broker reviews today have a special section listing its advantages and disadvantages. The advantages are the broker’s best features, while the disadvantages are its worst. This is a short and concise review of the trading platform, showing its strengths and weaknesses. If the advantages outweigh the disadvantages, you can be sure that the broker is trustworthy and you should always read this section of the best Forex broker to make a quick review of what you need to deal with.

Customer Support

Good customer support service is the last element we recommend as an indicator of the best possible Forex broker. The customer support team is where you directly engage with the broker. This team is made up of customer support representatives who will speak with you when you need additional information about the broker or about certain features they offer. They are also there to assist you if you have any issues that you need to resolve with the financial services website. Top-rated best Forex brokers offer 24/7 customer service, so you can rely on the support team at any time, no matter what day of the week it is or what time of day it is. But language is also important. By language we mean the type of language the customer support service offers. Of course, every broker offers support in English, but do all traders speak English? All this means that a great broker needs to consider and offer customer support services in multiple languages ​​to meet the needs of everyone, regardless of their nationality or language knowledge. And last but not least, there is another important thing about good customer support services at the best Forex brokers today – the communication methods. These are the approaches that customers can choose to get in touch with someone on the support team. The most common communication methods are phone calls, ideally 100% free, or email. Of course, in case of emergency situations, it would be good if the trading site has a convenient and modern option in the form of live chat for simple questions and answers.

Best Forex Brokers and Trading Platforms

Based on the collected information and comparison of brokers by many parameters important for a trader, Traders Union experts have selected for you the 5 best world best forex brokers that are suitable for beginners.

• RoboForex

RoboForex is a broker that has one of the highest rankings. Beginners regularly put RoboForex first due to its wide range of functions and ease of use of the platform. For example, the broker has 0% trading commissions, clients are offered demo accounts, and beginners can start trading with a low level of risk and simultaneously gain experience with the help of copy trading.

• FxPro

FxPro is a licensed best forex broker known for providing some of the best trading instruments on the market. The company does not charge commissions, but offers competitive spreads on forex, as well as futures, stocks , indices , metals and energies. For beginners, it is possible to test the platform and trading conditions on a demo account. The broker has also prepared an extensive section of educational resources that allow beginners to easily master the basics of the forex market.

• Forex4you

Forex4you offers a range of active and passive trading instruments useful for those new to the financial markets. Tight spreads, copy trading and educational resources contribute to the platform’s popularity among traders of all experience levels. There is also the opportunity to try out your strategy on a demo account or a low-risk trading account with minimum bets of just 2 cents.

• Tickmill

Tickmill is a great option for Forex beginners looking for a reliable platform to learn and trade on. Tickmill is licensed by the UK’s highest-level regulator, the FCA, so it is certainly trustworthy. The company also offers some of the lowest spreads on the market, quick account setup, and commission-free deposits and withdrawals. Newbies are also attracted by the copy trading and demo account options.

• XM

The XM Group brokerage company was founded in 2009. Initially, the company covered a rather narrow niche of the trading market and specialized exclusively in intermediary services in the foreign exchange market. Since then, the broker has achieved significant growth and success among traders. XM has proven its reliability and safety. It has diversified risks and is now an international broker providing services in almost 190 countries around the world. Over its ten years of activity in the Forex market, the XM Group broker has attracted more than 5 million traders, offering unique technological solutions. Currently, the company has been awarded as the “Fastest Growing Broker”, “Best Forex Service Provider”, and it is also noted in other nominations.

Best Forex Brokers: Trading Platforms

• RoboForex

RoboForex supports powerful MT4 and MT5 trading platforms , as well as its own robot trading software. If you are interested in setting up a trading bot to help you execute trades, you will appreciate Robo Forex’s comprehensive, award-winning platform. The broker offers leverage up to 1:2000, and you can start trading with a minimum deposit of $10.

• IC Markets

IC Markets offers traders trading on the MT4, MT5 and cTrader platforms, and a mobile application has been developed for the convenience of clients. Traders choose IC Markets for fast order execution and spreads from 0.01 pips. For example, the average spread for the EUR/USD currency pair is 0.1 pips, which is the lowest value for this currency pair in the world. Leverage from 1:1 to 1:500. The minimum lot size is 0.01 lots.

• Pocket Option Best Forex Brokers app

Pocket Option provides its clients with access to the MT5 platform, and the company has also developed its own unique trading platform. The broker offers trading in currency pairs, commodities, stocks, cryptocurrencies , and indices. With a minimum deposit of $50, clients can participate in lucrative bonus programs .

• EXNESS Group

One of the most popular brokers offers traders to choose platforms: MT4, MT5, MultiTerminal. For those who prefer to work via smartphone, a mobile platform has been developed, which can be installed via the EXNESS application. The broker provides free analytics and news summary. You can get free vps hosting, and if you are interested in social trading, then use the Social Trading application.

• FxPro

FxPro is a secure platform for trading Forex and CFDs . The broker supports MT4, MT5, and cTrader platforms and is at the top of the list for MetaTraders. This versatility makes it a popular choice for both beginners and experienced traders.