The best Forex brokers earn their great reputations by adhering to the strict regulations put in place by the UK’s Financial Conduct Authority or the respected CySEC authority of Cyprus. Going with a broker that is regulated by one of these authorities will help ensure your deposits will be safe and your trades executed accordingly.
Traders looking to sign up with a Forex or CFD trading platforms should take the time to research available brokers and ensure they sign up with a reputable broker who understands the marketplace, provides learning opportunities, demo accounts and accept a number of different payment methods.
The foreign exchange market is the largest in the world and based upon currency exchange fluctuations. Trading can take place any time of day or night Monday to Friday, using the global network of banks, investors and traders operate within the Forex marketplace. Investors looking for good reputable Forex brokers for 2017 can check out the following list of regulated and trusted Forex brokers:
This is an Irish-based platform, regulated by the Central Bank Of Ireland. AVATrade is one of the largest and most well-known platforms in Europe, providing Forex, CFDs and stocks for trading. Traders who want access to the worldwide markets will find this platform an ideal choice. Trades are managed from one account, making it simple to keep tabs on deals at all times. AVATrade accept a number of different payment methods and the reliability of this platform is well known, as the company has been operational for several years. The MetaTrader 4 platform has been the established industry standard for many years now, while signing up for the AutoTrader service allows pre-programmed trading to take place 24/7.
You can learn more about AvaTrade in our detailed review of the broker here.
This is a good all-round trading platform, offering access to Forex trading, alongside CFDs, ETFs and Futures CFDs. Traders looking to trade across all platforms are advised to take at look at Plus500 to learn the benefits of signing up for an account. It’s possible to credit accounts using a variety of methods, including Paypal, Diners Club International, Neteller and credit cards. Trading across all platforms is managed from just one account, making it easy to view all trades at any one time. Plus500 doesn’t charge commissions on Forex trades and charges standard fees for all trades. Professional graphing and charting tools make this platform ideal for new traders wanting to learn everything about trading across a wide range of options.
You can learn more about Plus500 in our detailed review of the broker here.
ETX Capital provides a number of useful learning modules to assist new traders in learning the ropes. ETX Capital provide some of the tightest available spreads, while the mobile platform allows trading from your mobile devices at any time, day or night. The platform was created by traders for traders and has been the winner of a number of industry awards including the UK Forex Award 2013 for being the best Forex trading platform and software. ETX Capital provides three platforms and offers a range of trading options in addition to Forex, including commodities, CFDs, equities and spread betting.
If you would like, learn more about ETX Capital in our in-depth review of the broker here.
Core Spreads is regulated in the UK and provides customers with Forex and CFD trading opportunities. The company provides access to thousands of markets, giving a choice of two platforms. Core Spreads provide traders with a monthly loyalty scheme, rewarding regular traders who accumulate Core Points for activities on the platform. At the end of each month, Core Points are tallied, giving traders percentage rebates off deals for the following month. Core Spreads provides a secure trading platform with some of the tightest fixed spreads on the market.
For further details, read our Core Spreads Review here.
IG provide numerous trading options, including Forex trading. IG are one of the top UK Forex traders, providing some of the lowest spreads on paired currencies and some of the most professional charting and graphics abilities that can be found on any trading platform. The site has won several awards, including the award for the best forex apps for mobiles and tablets in 2014. It’s possible to open a demo account with IG to trial out forex trading prior to actually depositing any funds with the trader.
Most of the Forex brokers listed above provide welcome bonus options to traders, alongside considerable learning modules to give insight and knowledge to anybody starting out in Forex trading. All traders need to understand their capital is at risk when trading on Forex and other stocks or commodities.
One of the great advantages of starting out with a demo account is the ability to work with virtual funding and gain a real understanding of just how much capital can be gained or lost from one deal alone. With a leverage of 1:200 on some of the sites above, it’s easy to see how money can be made or lost when trading in Forex.
Image Credit: Mark Fischer