In this modern Forex trading world, there are a lot of brokers are providing good trading services to traders. But we can't say all of them are the best in the market, we have to find out the best forex brokers at our convenience. Before you read the complete article, I will ask you a question. Are your choice and your friend's choices being same? Obviously, there will be something similar but not everything. In that case what you will say? which's choices are best? You will choose that product which will be comfortable for you, and your friend will choose as he/she wants. Definitely, both of you are right, if you search for the best forex brokers, you will see a lot of articles on the internet, you have to choose one as your flexibility. So, don't trust any articles and find your best broker at your convenience.
Which brokers are best in the forex market?
We are not identifying the best brokers like other websites. Every broker has different criteria to work in the market, that's why it's hard to identify the best one for others. We recommend you to find out your best by making complete research about a broker. Because, if we identify a broker as best, maybe it's will danger for you.
Here, we have tried to highlight the main features of a good broker, you will choose the broker at your convenience. If you found all of these features in a broker, that means it's could be the best choice for you.
Check the regulations of the broker
A regulated forex broker can't fraud with traders, because they have to follow all of the business standards as the regulatory supervision. There are many brokers operating with poor regulatory organization licenses. While you are choosing your broker, you should try to choose the broker who is regulated by powerful financial authorities like FCA, FSA, FINMA, NFA, ASIC, FASC, MiFID, etc.
What is the trading platform offering by the broker?
Nowadays, a broker is offering various trading platforms including their own developed and other popular platforms like MT4/MT5, Ninja trader, etc. Check the trading platforms of your broker before signing up with them. Because without a good trading platform you will not be able to reach your target. Most of the successful traders are using MT4/MT5 platforms for trading you should also try them.
What is the maximum and minimum leverage is offering by the broker?
Suppose you are a professional trader and your friend x is a newbie in forex trading. You are trading with a broker with high leverage, is your friend able to trade with high leverage? The answer is obviously not, your friend could lose all the capital within a second with high leverage. So, check the leverage which is offers by your broker and choose the right one. You can compare brokers by using the broker comparison table.
Is your broker accepting advanced trading tools?
Trading is going easier with advanced trading tools and technologies. Many brokers are accepting these amazing tools and many of them are denied these tools. There are a lot of modern trading tools are available which really help us to make better trades like, TWS BasketTrader, Order Management System (OMS) / IB Blotter, Mosaic Market Scanner, Portfolio Builder, etc.
Transaction costs of the broker
Every trader has to pay a commission or spread while they are entering a trade in the market. Good brokers are keeping commissions a few higher than other newbie brokers. You should choose at your convenience.
Fund withdrawals and deposits
Actually, there is no reason to make it complex by brokers, but it is important for you. If you can't deposit and withdraw funds by using your favorite method you should avoid them. Although E-Wallet is available everywhere in the world some countries have restrictions on them.
There is no broker available where you don't need to face problems. Problem is everywhere, so you must choose a broker, where you can contact the authority easily. There are a lot of brokers saying they are good at customer services and offering various customer support methods, but response time is very important. You have to pick a broker who is actually serious about their customers and responding immediately.
FXPRIMUS is the brand name used by: Primus Global Ltd, regulated by CySEC, with licence no. 261/14. Primus Markets INTL Limited, regulated by VFSC, with registration no. 14595. Primus Africa (Pty) Ltd, regulated by FSCA, with licence no. 46675.
Zavos Kolonakiou Center, Kolonakiou, Agios Athanasios, Limassol, Cyprus
The Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, the Financial Services Authority of Seychelles (FSA), the Australian Securities and Investments Commission (ASIC)
28 Oktovriou, 237 Lophitis business centre II, 6th floor, Limassol, Cyprus, 3035