Broker

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for EURUSD

Min.

Deposit

Platforms

Offered

Account

Types

Spread

Type

Funding

Methods

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Execution

Details
CFDs are leveraged products and 73% of retail traders lose money when trading CFDs.Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Rankings are influenced by affiliate commissions. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For Becoming an Elective Professional

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose
For Becoming an Elective Professional?

scored best in our review of the top brokers for becoming an elective professional, which takes into account 120+ factors across eight categories. Here are some areas where scored highly in:

  • + years in business
  • Offers + instruments
  • A range of platform inc.
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Offers demo account
  • 0 languages

offers one way to trade. If you wanted to trade EURUSD

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.

have a trust score, which is . This is largely down to them being regulated by , segregating client funds, being segregating client funds, being established for over

Trust Score comparison

Trust Score
Year Established
Regulated by
Uses tier 1 banks
Company Type Private Private Private
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.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: .

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

To trade with , you’ll need a minimum deposit of $. offers a range of different account types for different traders including a , .

Finally, isn’t available in the following countries: . They do not offer islamic accounts .

Part 3

A Comparison of vs. vs.


Want to see how stacks up against and ? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The 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.
Fixed Spreads
Variable Spreads
EUR/USD Spread
GBP/USD Spread
USD/CAD Spread
USD/JPY Spread
DAX Spread
FTSE 100 Spread
S&P500 Spread

Comparison of account & trading features

Platform
Services
Base currency options
Funding options
Micro account
ECN account

Part 4

What’s an Elective Professional?

Elective professionals are professional traders who have passed a series of qualitative and quantitative tests proving that they have sufficient trading experience to trade with riskier margin levels.

Since ESMA’s intervention on August 1st 2018 reduced the leverage available to retail traders down to a maximum of 30:1 on major forex pairs and 20:1 on indices, the prospect of becoming an elective professional has increased in popularity as it enables traders to access the same amount of leverage that they previously had access to.

The purpose of ESMA’s ruling was, however, to protect inexperienced retail traders from using high amounts of leverage and taking on more risk than they can handle. As such, it should come as no surprise that not everyone can elect to become a professional trader.

How do I become an elected professional?

Currently, a small number of brokers allow retail traders to apply for an upgrade to elected professional status. Typically, this involves proving to the broker that they have sufficient trading experience and an understanding of the products that they’re trading. This must be validated by a series of qualitative and quantitative tests supplied by the broker.

The brokers listed above are currently some of the few brokers that are offering this service to retail traders.

What is ESMA?

ESMA, or the European Securities and Markets Authority, is an independent EU Authority that safeguards the European Union’s financial systems by protecting investors and promoting good conduct within the financial system.

In January 2018, ESMA implemented the Market in Financial Instruments Directive (MiFID II), which imposed a wide range of additional compliance requirements for brokers to comply with.


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