Forex trading: The best brokers of 2024
The Forex market operates around the clock. If you want to get used to this highly active environment, you need to find a good broker that suits your needs. The turnover in the Forex market is trillions of dollars daily, so you need to be very careful not to lose your savings and trade profitably.
When choosing a Forex broker, pay attention to what services it provides, which traders it is oriented to, and most importantly - do not choose a Forex broker in the same way as a stock broker. There are subtleties here that you need to pay attention to. These 5 brokers cover a wide range of services that will suit different traders.
The optimal option that will suit everyone. The company was founded 50 years ago and is truly innovative. In 2019, it re-entered the American market and now accepts American traders.
The main specialization of the company is spread betting. This broker will suit you if you want to trade on currency pairs or CFDs. Also, the broker accepts clients from all over the world, so it doesn't matter where you live. You'll get low spread costs here, and on top of that, you'll get all sorts of educational resources. There are quite a few studies published here that allow you to improve your analyzing abilities. Plus, this broker has a really user-friendly interface that is a pleasure to use.
Like the previous one, this broker is consistently in the tops. It is great for those who love copy-trading and cryptocurrency trading.
If you are a beginner, be sure to consider this option. The copy-trading feature allows you to use the strategies of professional traders you can trust. It's a good way to gain experience and make money without the headache. In addition, there are great educational resources here. The tools that the platform provides are very easy to use. Even if this is your first trading experience, they will make sense to you intuitively.
There is a downside: this broker does not support MT4 and MT5.
A European broker that will suit those who like to trade from mobile devices. The company specializes in CFD trading.
In general, this broker is more suitable not so much for those who trade from the phone, but for the pros who need to be constantly updated. Here you will get all the information about investment assets and will be able to buy and add CFDs to your portfolios more easily.
Nevertheless, there are attractive offers for beginners too. The broker gives access to demo accounts: on them you can practice before using real funds for trading. On the downside, there are few educational resources, so if you don't have a theoretical base, you should consider other options.
4. Interactive Brokers
If you consider yourself a pro, this broker is for you. It is one of the best non-banking ones. Here you will have access to assets in 135 markets in 33 countries and 23 currencies. Extremely attractive. The company offers many comprehensive products to suit different needs: there are individual accounts, asset management and algorithmic trading.
Interactive Brokers also has quite favorable commissions, you'll be hard pressed to find lower ones. Plus, the company positions itself as cutting edge and demonstrates it with its platform. IB Trader Workstation is very functional and supports algorithmic trading. Plus for 100 dollars you can get access to portfolios through the Robo division.
In total, the company has over 2000 services.
5. CMC Markets
A British broker that adapts well to changes in the field. It was created only 35 years ago, but it has already established itself. Its shares are listed on the London Stock Exchange (LSE) under the ticker CMCX. In addition, this broker has a very user-friendly platform.
This broker, in general, will suit everyone. There is a wide range of services that will suit both experienced traders and those who are just starting to trade currency pairs or CFDs. For pros, the broker offers a greater variety of products than its competitors. In addition, the company has a rather low commission compared to similar brokers.