He has also published a book in 2023 on on investing and trading. CTrader overall is a technology-focused platform with enterprise-grade IBM hardware, ultra-low latency and those cross-connects liquidity providers. There has been over $40m USD invested in infrastructure, which has helped achieve 100% uptime over the past seven years.
FP Markets
The signals include entry, stop loss and take profit levels and a detailed analysis of the trade idea, which I also think is an excellent learning tool for beginner traders looking to build their confidence. OCTA provides an extensive range of research and educational materials useful for beginner traders who are just starting out. Founded in 2011, one entity is authorized and regulated by CySEC, and one entity is not regulated. Beginner traders can access a free demo trading account and a commission-free trading account to trade 80+ financial instruments.
- These webinars are hosted by different speakers and cover live trading sessions, news trading sessions, forex basic lessons, practical workshops for beginners, and much more.
- Often fixed spread brokers also will have other risk management tools included such as guaranteed stop losses.
- Our meticulous analysis covers advanced trading tools, innovative platforms, and exclusive promotional offers.
- If you are new to trading and looking for a user-friendly and simple account type, Pepperstone’s standard account will provide spreads from 0.6 pips with no commission fees.
How We Chose the Best Brokers for Forex Trading
The company serves over one million customers, and holds more than $100 billion in client assets. When choosing a forex broker to trade with, you should be aware of and check a range of fees. During our live test, I discovered more than 50 charting tools and more than 80 technical analysis indicators, with all the most common indicators ready to use. I also discovered there are a range of order types that are not available forex trading guide and forex broker reviews on other platforms and some that are new to me.
- Beginning investors should educate themselves on the wealth of research and educational resources available through trading platforms and sites such as Investopedia.
- It also offers a relatively low number of tradable symbols and does not offer trading in non-CFD shares, ETFs, or cryptocurrency.
- There is no one way to be profitable in investing, but forex traders tend to do well when they have a defined trading strategy, control their overall trading exposure, and are mindful when using leverage.
Lastly, product offerings for U.S. clients are limited to spot forex trades. 67% of retail investors lose money when trading CFDs or spread betting with CMC Markets. In my experience, each account type may come with a different minimum deposit. Generally speaking, the higher the minimum deposit is, the better the trading terms, products, and services will be. From my own experience, I would recommend avoiding unregulated brokers at all costs.
While the interface may seem old fashion, the platform is light and powerful, allowing for fast execution speeds. Traders can trade directly from charts, make pending orders and instant executions of implement stop-loss orders. The first is a shared platform that is created by a software company and is shared by many forex brokers. The big advantage of a shared platform is that it reduces the barrier long-term to switching forex brokers, as there won’t be a need to re-learn the platform.
He has 20+ years of mutual fund, macro market research, institutional trading desk, and trading education experience. Michael holds a bachelor’s degree from West Virginia University and is a chartered member and subject matter expert (SME) for the industry-leading Chartered Market Technicians (CMT) Association. The leverage amount offered by a broker depends on your categorization as a client with them (retail or professional) and which financial regulator the broker falls under. With all the different features available in the platform, it is certainly worthwhile testing for yourself.
What’s the best forex broker for professional traders?
It is the second most popular platform and has an interface that is more modern and attractive compared to MetaTrader 4. In addition to the rich charts, there is also level II pricing, advanced order types and fast execution. In the forex markets, currencies trade against each other as exchange rate pairs. For example, the EUR/USD would be a currency pair for trading the euro against the U.S. dollar.
IC Markets
Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry. The best way to test the fees for yourself is to use a demo trading account or open a live account with the minimum deposit first.
Best Forex Brokers For Beginners
During our live test, I found that Tickmill offers an excellent and diverse range of research tools. One of my favourite research tools from Tickmill is its Market Sentiment dashboard which provides multi-asset news and sentiment visualization on more than 80,000 instruments. You can view the sentiment of an instrument on a daily or hourly basis and adjust the confidence levels on predicted sentiment levels.
The low average spreads combined with fast, no dealing desk (NDD) execution is well-suited to algorithmic traders and scalpers. Though not uncommon in the forex broker industry, Saxo does not cater to U.S. traders. In addition, the desktop platform requires a steep learning curve, the platform charges currency conversion fees, and very high balances are required for premium accounts. AvaTrade also integrates with Trading Central, providing valuable market insights and technical analysis essential for making informed trading decisions. Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange.
However, those looking for platforms like cTrader or RTrader may need to consider other brokers. Platform reliability is crucial, and XM Group excels with years of market presence. Operating in 190 countries and being multi-regulated, including oversight from FCA, SCA of UAE, ASIC of Australia, CySEC of Cyprus, and IFSC of Belize, XM stands as a trusted global forex and CFD broker. 10 Oct 2025Jannis about FxProFxPro combines great technology with excellent service. Their spreads are reasonable, and the platforms are smooth and professional. 16 Oct 2025Jarvis about XMeducation here is very good because even not for beginners but for advanced traders you can find resources to help your case.
Established in Tel Aviv, Israel, eToro has offices in Cyprus, the UK and Australia. EToro differs from most brokers as it’s a social trading platform that allows traders to view, compare and share trading ideas and strategies with millions of other traders worldwide. EToro offers advanced trading tools such as the CopyTrader™ system to copy trades from other portfolios, and CopyPortfolios™ which is an investment fund of sorts where you can invest in a portfolio compiled from top eToro traders. Lastly, ThinkMarkets offer MetaTrader 4, 5 and their own developed platform ThinkTrader, the no.1 mobile trading app in the world. This app allows you can trade on the go using 80 indicators, 50 graphical tools and 14 different chart types. If you are new to trading and looking for a user-friendly and simple account type, Pepperstone’s standard account will provide spreads from 0.6 pips with no commission fees.
You can also trade from an ECN raw-spread account, which provides interbank pricing and spreads from 0.0 pips. However, there is a commission of 3.50 USD per lot per side when trading from MetaTrader or a 3.00 USD commission per 100,000 units of currency traded when trading from cTrader. RoboForex has created its own R StocksTrader platform and app designed specifically for stock trading. The broker also supports the popular MetaTrader 4 and 5 platforms, which can be enhanced with add-ons for direct access to trading signals. Moreover, RoboForex provides free Virtual Private Server (VPS) hosting, enabling low-latency trading for its users. During our live fee test, I found the spread for EUR/USD during the London and New York trading session averaged 0.9 pips.
CMC Markets: Best for Active Traders, Best for Trading Experience
One of the most popular features of the platform is cTrader copy. This allows anyone to make strategic decisions and charge a fee for others to copy trades. Another is cTrader automate, which allows traders to create their own automated robots. Unlike MetaTrader 4 this is based on C# API to write the code with a test environment provided to simulate trades with the robot.