Trading in the world’s largest foreign exchange market (Forex) requires a very reliable forex broker. Whether you are a beginner or a professional, having a forex broker you deem reliable can be the difference between success and failure. Through brokers, people can trade with ease.
Getting your brokerage account set would mean equipping it with the necessary funds used to trade. In some instances, injury and losses due to an accident may lead you to request pre-settlement funding in Nevada. If accepted, you then have the capital to get started. Funding is the essential first step to trade within forex.
The next step is then finding the right broker. There are so many brokers in the market, but not all of them will be reliable and remain truthful to you. This is backed up by the traders saying, “your biggest enemy is your broker, not the market.” Below we take a look at the best brokers you could use in 2021.
Which Are the Best Forex Brokers?
1. TD Ameritrade
TD Ameritrade allows its currency traders to use its thinkorswim trading platform which offers a wide range of trading options. With a well-rounded portfolio, the tradable products’ scope is wide with its highly-regard platform allowing traders to use several mobile apps.
They offer over 70 tradable pairs and leverage going as high as 50:1, which is the USA’s ultimate leverage. They also have a Bitcoin future trading option that requires approval to trade. Overall, they are considered one of the best brokers in the market today.
2. XTB Online Trading
XTB is among the largest exchange-list forex brokers in the world. Several authorities regulate it. They offer a platform to trade with forex, indices, commodities, ETFs, and crypto in over 1,500 global markets. The platform works incredibly for both professionals and beginners since it’s easy to use and has a fast execution time.
Coming in three forms, web, mobile app, and desktop app, the XTB allows you to trade with 45+ currency pairs with a lot size of as low as 0.1. Simultaneously, trading with indices offers you 25+ indices from around the world that you could trade with a leverage of 1:500.
3. FXTM (Forex Time)
The platform is regulated by Cyprus Securities and Exchange Commission (CySEC) and other financial authorities worldwide. In addition, using this platform means you have to pay a commission that will vary depending on your trading habits, like how many times you trade and how long you hold a higher account balance.
Even though it is a worldwide platform, some countries are excluded from using the platform, with the USA being one of them. It gives you instant execution to trade the major currency pairs, stocks, and cryptocurrencies.
This platform specializes in the trading of currencies and offers a variety of attractive features. As a trader, you can access 80+ currency pairs to trade with and maximum leverage of 50:1. The pricing boils down to account type, spread, and commission.
5. Ally Invest
This is a platform suitable for beginners allowing them to open a demo account worth $50,000. Moreover, the platform comes with easy-to-use charting software with over 80 pairs to trade with and leverage 50:1.
Get the Best Forex Broker
The right broker will work wonders for you. Some features to look for while choosing a broker are the number of pairs the broker allows you to trade with and some other trading options they may have. The leverage you can use will enable you to increase your trading position, and the higher, the better. So, don’t forget to look at the broker’s prices, so you won’t be surprised when your money doesn’t add up correctly.