The global pandemic of 2020 highlighted the numerous flaws in the global financial system and how we work and earn money. It showed the insecurity of paychecks and revealed the financial independence and insulation from economic shocks that global financial trading brings. There is no wonder that there was a heavy increase in the number of people who went into financial trading to secure a new way to make money.
The increase in the number of people looking to get into the world of FX and CFD trading has led to a proliferation of FX and CFD brokers. Hundreds of brokerages are located worldwide, composed of the good, bad and ugly. But which is the best forex broker for you? Which broker suits your situation and allows you to maximize your trading experience? That is what this site is all about.
Forex and CFD trading/investing require you to have an account with a forex broker. Brokers offer trading in FX pairs and Contract-for-Difference (CFD) instruments in stocks, cryptocurrencies, indices and commodities.
They will provide you with the various platforms you need to access the market (MT4, MT5 and cTrader). These platforms are different and offer you different experiences in your trading journey. This site will open your eyes to the opportunities that lie in the use of these platforms.
Forex brokers will also list various FX pairs and CFD assets for trading. Each of these comes with various contract specifications to trade the assets. You need to understand aspects of these contract specifications and how they affect your trading. What are contract specifications? You will encounter these things when you want to buy or sell a currency pair or a CFD asset. Leverage is one of these specifications. What are the high leverage or low leverage brokers? You will find out. Other contract specifications are the lot size, minimum order size, maximum order size, monetary value per point movement, and others.
Whether you are a scalper, swing trader, position trader or only trade the news, you must trade in an environment of safety and transparency. Your forex broker provides your trading venue, and you must go with the best.
You have to make the right decision when choosing your FX broker.
Several considerations have been used in compiling the list of the various FX and CFD brokers you see on this website. Some of these are listed below.
The location of your broker is essential. The way the global financial system works is a bit nebulous. You may find that certain brokers cannot serve you because of the laws of the countries where they are domiciled or because of internal policies which drive them to relate with traders based on real or perceived risk. Therefore, you may find that you cannot transact business with brokers in a certain location because you live in a certain area. Some regulatory considerations and impediments may arise from local laws regarding the handling of foreign exchange. Do you live in places like China, India, Belgium or South Africa? You may discover that accessing an FX broker that can handle your forex trading business may be more complicated than you envisage. For this reason, we have taken the pains to curate the list of FX/CFD brokers so that you will always find a brokerage on which to handle your FX trading transactions.
Never miss out on the best forex trades that can change your life forever simply because of where you live. There is an FX broker for everyone, irrespective of geographical location or country of abode.
To transact in the forex market, you must have an acceptable payment method. What works for someone in North America may not work for someone in South East Asia or Eastern Europe. The payment channel is how you deposit your trading capital with the broker and withdraw your funds when needed. This is where many traders have faced a lot of problems. The situation has been made worse due to the battle by the regulators of the fiat money systems against cryptocurrencies and crypto payment providers. There are also well-documented discriminatory practices of certain e-wallet providers against nationals of certain countries. In a world where equality is being preached, should you be locked out of the FX market by a payment provider simply because of where you come from?
We believe everyone deserves equal access to the FX and CFD market. This is why the forex brokers we have listed here have payment channels for everyone. If one payment method does not work for you, there are alternatives to ensure you can deposit and withdraw your funds without hassles.
Your funds must be secure and inaccessible to hackers. It is vital to deal with a broker where data flow is secure and where you can trade in a safe and secure environment. The brokers we have put up here have impeccable records of securing the funds of their traders. Some even have segregated account setups and investor compensation schemes to give their clients an added layer of protection.
The ultimate aim of forex trading is to make money and get your profits so you can use the money. Some brokers delay payments, and some just take your money and run. There have been some nasty cases where brokers just concocted to steal their clients' monies under various guises.
The available payment channels have made it possible to withdraw funds and have them in your account in a few hours. Why wait 7 days (or forever) to get your payments when you can get them that quickly? This is why our list of brokers features those with prompt payment history, where you do not have to sweat blood to collect your pay.
Here, we have taken the stress out of choosing a forex/CFD broker by making selections and curation for you. We have done this so you can focus on what is most important: trading.