As a forex trader, one of the most important decisions you will make is choosing a forex broker. With so many so called best forex brokers to choose from, it can be a daunting task. But it doesn’t have to be. In this blog post, we will give you some tips on how to choose a best forex broker that is right for you.
So, why should you trust this list of Top 5 best forex brokers? It is because, this is the only forex brokers list you will ever find on the internet without affiliate links or promoted content. I do not intend to earn money, my sole intention is to provide you with the right information on best forex brokers. If you find any type of affiliate links in this post, please contact me, and let me know.
Before we see the Top 5 best forex brokers, let’s see what to look for in a forex broker before choosing them.
How To Choose A Best Forex Broker? Tips to Find a Good Forex Broker
When it comes to something as important as your currency trading, you want to make sure you are working with the best possible forex broker. Here are some things to look for when choosing a forex broker:
– Make sure they are regulated by a major financial regulator such as the Financial Conduct Authority (FCA) in the UK or the Commodity Futures Trading Commission (CFTC) in the US. Or by the regulation authority in your country. This will ensure that your broker is compliant with strict financial regulations and that your money is safe.
– Check what type of spreads they offer. Some brokers offer fixed spreads, while others offer variable spreads. Fixed spreads mean that the spread will always be the same, regardless of market conditions. Variable spreads means that the spread will fluctuate depending on market conditions. Different traders have different preferences, so make sure to choose a broker that offers the type of spread that you are comfortable with.
– Another thing to look at is the minimum deposit requirement. Some brokers have high minimum deposit requirements, while others have low minimum deposit requirements. Choose a broker that has a minimum deposit requirement that you are comfortable with.
– Last but not least, make sure to read online reviews of the broker before making your final decision. hearing about other people’s experiences with a particular broker can give you valuable insights into what to expect.
Now, let me give you my list of top 5 forex brokers in the world!
List of Top 5 Best Forex Brokers
Here is a list of best forex brokers. Note that, this list is written considering some major factors and after a diligent audit.
1. IC MARKETS
The Top place in my list of best forex brokers goes to ‘IC Markets” They are headquartered in Australia. Transparency, honesty, and a great support is what I like about this forex broker.
Customer Support: Amazing
Spreads: They offer both fixed spreads and variable spreads. Believe me, these are some of the best spreads you can get compared to other brokers.
Minimum Deposit: $200 is the minimum deposit with this forex broker. Interestingly, they offer deposits in multiple currencies other than USD
Trade Execution time: Awesome, IC Markets has one of the fastest trade execution system
Withdrawal: IC Markets is very prompt in processing withdrawals. They do not make false promises. Their site shows actual time required for receiving your profit withdrawal.
The second forex broker in my list of best forex brokers is Forex.com. They are headquartered in united states of America and offer various forex brokerage services.
Customer Support: Very good customer support
Spreads: Forex.com offers both fixed spreads and variable spreads options.
Minimum Deposit: $1000 is the minimum and recommended deposit with forex.com.
Trade Execution time: They offer a industry standard trade execution time
Withdrawal: Your money is safe, and withdrawals are processed on time!
Plus500 forex broker takes the third spot in my list of Top 5 best forex brokers! Plus500 is headquartered in Singapore. I like the way they operate. Their trading app is very user friendly and they support numerous currencies.
Customer Support: Very punctual customer support
Spreads: Plus500 offers very good spreads for all currency pairs and CFDs. Their spreads are as low as 0.00006
Minimum Deposit: Minimum deposit depends on your country, but I assure you that it is very low.
Trade Execution time: They have a very efficient trade execution system with Guaranteed stop order!
Withdrawal: You will love Plus500 when it comes to your withdrawals, they process withdrawals in no time! However, standard time applies while withdrawing to your bank cards.
4. Admiral Markets
Fourth spot in the list of our handpicked best forex brokers goes to Admiral Markets. They are headquartered in United Kingdom with various office locations across the world!
Customer Support: 24/7 support
Spreads: Admiral Market offers spreads starting from 0.6, but it also depends on type of trading account with them
Minimum Deposit: Minimum deposit at Admiral Markets is just $1 🙂 Can you believe it? they are making it easier for everyone to try forex trading
Trade Execution time: Good trading execution time on both MT4 and MT5
Withdrawal: They promptly approve withdrawals.
BDSwiss is the last one in our list of best forex brokers. I like everything about them, they are on the 5th spot because of delayed withdrawals and delayed response from support. So, why call them a good forex broker? because, they offer good trading conditions! withdrawals are delayed but your money is safe! They are based in Seychelles.
Customer Support: Average 24/7 support.
Spreads: BDSwiss offers both fixed and variable spreads options to the traders. They also offer leverage up to 1:1000
Minimum Deposit: Minimum deposit at BDswiss is $100
Trade Execution time: BDSwiss offer good trade execution times on metatrader
Withdrawal: They are prompt in sending you your money, but they take more time compared to other forex brokers.
I hope that these tips and the list of Top 5 best forex brokers have helped you in your search for a good forex broker. Remember, there is no such thing as the best forex brokers, but there is a broker that is perfect for you. Do your research and don’t be afraid to ask around for recommendations. And lastly, don’t forget to try out different brokers with a demo account before you commit to trading with them.