Offers two ways to trade: Forex, CFDs
CySEC, Financial Services Boar...
Popular for Forex!
566 traders clicked on Markets.com this month.
The Ultimate Guide to
Choosing a Broker
Not sure which broker is right for you?
Don’t worry - we’ve got you covered. In this guide, you’ll learn:
- Why Markets.com scored high for forex (Jump to section)
- Who Markets.com is (and isn’t) suitable for (Jump to section)
- An in-depth feature comparison of the top #3 brokers (Jump to section)
- An overview on forex (Jump to section)
What is the Best Trading Platform
Markets.com scored best in our review of the top brokers for forex, which takes into account 120+ factors across eight categories. Here's the full list of all the brokers we considered.
The following brokers allow forex on their platform:
Here are some areas where Markets.com scored highly in:
- 10+ years in business
- Offers + instruments
- A range of platform inc. MT4, MT5, Web Trader, Tablet & Mobile apps
- 24/7 customer service
- Tight spreads from pips
- Used by + traders
- Allows hedging
- 2 languages
- Leverage up to 100:1
Markets.com offers two ways to trade: Forex, CFDs. If you wanted to trade EURUSD through copy trading or other means, skip to part two.
The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.
Markets.com have a B trust score, which is good. This is largely down to them being regulated by CySEC, Financial Services Board, segregating client funds, being established for over 10 years, and much more. For comparison:
Trust Score comparsion
|Regulated by||CySEC, Financial Services Board|
|Uses tier 1 banks|
|Segregates client funds|
The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.
Who Markets.com is (& Isn’t)
As mentioned, Markets.com allows you to trade in two ways: Forex, CFDs.
- CFD Trading
- Forex Trading
Markets.com offer a wide range of instruments to trade including forex pairs, stocks, indices, and cryptocurrencies . In fact, they’re one of the few brokers to offer not only Bitcoin trading but also Ripple, and many more. In the following section we’ve listed Markets.com’s spreads for a range of popular instruments. You can also see a more detailed breakdown of how Markets.com’s spreads compare in this Markets.com review
Finally, Markets.com isn't available in the following countries: AF, DZ, AS, AO, AU, BE, BA, BR, KH, CA, CN, CU, KR, GU, GY, HK, ID, IR, IQ, IL, JP, LA, MO, MY, MM, NZ, MP, PA, PG, PH, PR, RU, SG, KR, SD, SY, TW, TH, TR, UG, VI, VU, USA, VN, YE.
A Comparison of Markets.com vs. vs.
Want to see how Markets.com stacks up against and ? We've compared their spreads, features, and key information below.
Spread & fee comparsionThe spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
|FTSE 100 Spread||2|
Comparison of account & trading features
|Accounts offered||Mini account, Islamic account, standard account, VIP account|
|Platforms||MT4, MT5, Web Trader, Tablet & Mobile apps|
|Risk management features||Limit order, one click trading, trailing stops, price alerts and negative balance protection|
|Funding methods||Payoneer, Credit cards, Bank transfer, PayPal, WebMoney, DebitCard,|
Looking for the Best Forex Broker?
If you would like to get started with Forex trading in 2017 and are keen to find out who are the best Forex brokers, then the good news is you’ve stumbled upon the right article.
The Forex trading market is highly competitive industry and many online brokers are constantly competing to offer the best spreads and features to encourage Forex traders to join. As a new trader, or a trader looking to move to a new broker, you will quickly find yourself inundated with a seemingly endless selection of Forex brokers to choose from.
To help remove any confusion and allow you to quickly find the best Forex broker for 2017, we have identified the most popular broker for our visitors as:
Most popular BrokerNotes’ Forex Broker: AvaTrade
Why people choose AvaTrade
- Tight spreads
- Accepts various funding/withdrawal methods including Credit Cards and Paypal
- Offers various platforms including MT4, AvaOptions, Mac Trading and Automated Trading
- Regulated by multiple authorites
- Allows scalping and hedging
- Offers Forex, CFDs, Binary, Spread Betting, Equities, Commodities and Indices
- Wide range of instruments to trade including cryptocurrencies like Bitcoin
If you are still not sure on how to choose the best broker for you, we cover in-depth, the 12 factors that you should consider before choosing a broker.
The 12 Factors to Consider When Choosing the Best Forex Broker For You
The Forex Market is the largest market in the world in terms of volume with over 4 trillion dollars exchanged daily. With the popularity of currency trading their is a plethora of online platforms, a large number of sites which now offer this service. However, not all are equal and there are some which will provide the user with more amenities than others. So, it is wise to have a look at a handful of the most important metrics to consider when choosing an online Forex broker.
Choosing the right forex trading platform can be a difficult choice with a such a large number of brokers and different trading platforms to choose from we have taken into account the most important factors to consider when deciding on the best forex account for you.
It is first important to mention that the site in question needs to offer adequate levels of security. This will generally be classified by the term SSL encryption. SSL is an acronym for Secure Sockets Layer. All technical jargon aside, this is the same encryption software which banks and other financial institutions employ. If this is not clearly seen (normally at the bottom of the homepage), it is best to avoid the site.
2. Customer Support
Of course, this is another general concern which should be addressed. The best sites will offer numerous avenues of support including telephone, email and live chat. This is critical if the user has any questions or there appears to be a discrepancy in the services offered. As with the security features mentioned previously, shoddy or insufficient customer support is the hallmark of a less-than-trustworthy platform.
3. Regulatory Bodies
Before we even consider featuring a broker in our list we make sure to check they are regulated, however their regulatory status can always change so it is always pays to check their current regulatory status.The online Forex broker needs to be registered with the proper regulatory body. This will naturally differ from location to location. For example, sites within the United States are governed by the National Futures Association (NFA) while also registered with the U.S Commodity Futures Trading Commission (CFTC). In the United Kingdom, the platform must offer evidence that it is approved by the Financial Conduct Authority. This body was formerly known as the Financial Services Authority (FSA). Note that this oversight refers to the country where the broker is based.
4. Trading Spreads
One of the most critical determinants of profit revolves around the amount of commission that the broker will charge per trade. This is often referred to in units known as pips. Note that this spread will vary between brokers. As a rule of thumb, lower pips will equate to less commissions taken out during each trade. Still, other brokers could choose to charge no pip-based commission and instead make a profit when trading wider spreads. It is also worthwhile noting that a sign of a good broker is one which will display extremely tight spreads when dealing with common pairs such as the dollar/euro or the pound/euro.
5. Initial Deposit Amounts
One of the main attractive characteristics of Forex trading is that traders will normally not be required to place a great deal of money down to open an account (in contrast to a commodities position such as gold). Some online brokers will offer entrance for as low as fifty dollars. Another sign of a reputable platform is one which will provide numerous entry levels based upon the needs of the trader.
6. Account Flexibility
One should also be able to open up an account in relation to the amounts that they wish to trade. While often called by different names, standard options will normally include such terms as:
7. Regular Discounts
One of the bonuses which a good site will display is the ability of frequent traders to enjoy discounts such as a tighter spread (as in the case of spread betting). This will equate to a potentially higher profit margin. Although such an amenity may fall under the “VIP” category, most respectable portables will offer this as a standard feature.
8. Means of Depositing and Withdrawing Funds
The larger and trusted sites will provide the trader with numerous methods to make a deposit or withdrawal. The most common are credit cards, ACH payments, PayPal or a direct bank transfer. However, it is also important to realise that some platforms will charge a withdrawal fee. This can eat into one’s profits and needs to be taken into consideration. Any site which does not provide flexible payment options or methods which are unknown should be avoided. A security risk may indeed be present.
9. Currency Pairs
It only stands to reason that a respected site will provide the user with a great number of pairs to choose from. While standard pairs such as the dollar/euro are of course present, others including the dollar/franc or the dollar/yen should also be covered. The reason for this is that a larger number of pairs will help one to diversify a portfolio and avoid volatility within a certain currency.
10. The Trading Platform
In terms of functionality, the type of visual platform employed is of the utmost importance. There are a few questions that need to be addressed. How easy is it to track pairs in a real-time scenario? Are the account balance and any profits / losses visible within the main portal? How often is the site updated? Are “buy” and “sell” options clearly marked? The user must be completely comfortable with all aspects of navigation. Otherwise, an incorrect trade could be made or an opportunity may be missed.
11. Demo Account?
Good online brokers will offer the user a demo account. This will require no deposit and while it can only be used for a predetermined amount of time, demo accounts will enable a potential trader to understand the workings of the site in question. Brokers which do not provide such an opportunity should be approached with caution.
12. Trader Interaction
One of the best aspects of many of the top-rated sites is that they will enable traders to interact with one another. Not only is this an excellent way to meet like-minded people, but a great deal of advice can be gleaned from professionals in the industry. This is another feature which is becoming increasingly common in the larger sites.
These are some of the most important variables to keep in mind when choosing an online Forex broker. While no single metric will define a good platform, each should be considered with the others. The end result will be the ability to encounter the best site designed around your unique needs.
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