Forex trade (also known as Forex or FX) is one of the booming moneymaker investments in the modern economy. Riding on the vehicle of technology and digitization, Forex trade has been made easily accessible and available from the comfort of one’s phone or computer.
As lucrative as it is, Forex is equally risky and extremely volatile; you can make windfall profits in minutes and lose fortunes within the same time frame or less. Much knowledge and well-refined expertise are needed to get something out of Forex.
You need a top-notch forex brokeage serviceto make a good shot for your hard-earned money in the forex trade. A Forex broker is a middleman that bridges the gap between FX traders and the currency market. Without the services of FX brokers, we should as well forget about foreign exchange trading altogether. They (FX brokers) avail trading platforms, accept deposits, and process withdrawals.
Here are some of the top FX brokers in the current market:
1. Robo Forex
Robo Forex is one of the rated FX brokers useful for diverse traders irrespective of their levels of expertise—beginners or professionals. It offers all that is needed at every level of foreign exchange trade, including a reliable trading platform, accepting deposits, and processing withdrawals.
Understanding that new FX traders need to be well-trained and grounded before jumping into the game, Robo Forex provides multiple tools and resources to empower and equip them with the wherewithal to excel in this gainful venture. These include bonuses, trade copying, and education.
Besides the top-class service and ease of use with its various tools, Robo Forex is also highly commendable because of honest non-subjective reviews by satisfied traders. Independent reviews and ratings by traders are a powerful argument for any service provider.
With experienced, prompt, and knowledgeable support services, Robo Forex is a safe broker to enlist yourself with.
2. AvaTrade
AvaTrade FX broker is highly rated for two significant peculiarities. The first, which can revamp traders’ skillset at any level of engagement, is its excellent educational resources. This makes AvaTrade a great FX broker for beginners.
Education resources provided by AvaTrade include live webinars, video trading tutorials for beginners and advanced traders, and an investor dictionary to help traders understand various technical terminologies in FX.
Another reason AvaTrade attracts wide appreciation is that it is a highly regulated FX broker, making traders find it safe and trustworthy. Regulation by a solid authority is a great determinant of the reliability or non-reliability of a foreign exchange broker. An unregulated FX broker can hoodwink unsuspecting profit-blinded traders with excessive leverage, lavish bonuses, and promises of effortless profits. Regulation ensures only brokers remain within the market possibilities and cease promising impossibilities.
3. IG
Foreign exchange thrives on trust and reliability. What is a better yardstick for the dependability of a foreign exchange broker than wide use by many content traders? This is what IG FX broker brings to the table. Since the IG broker is regulated, it is trusted by many traders globally. It has made considerable steps and adjustments to suit its platforms and tools to meet traders’ needs since it was started in 1974.
Many currency traders equally seek IG because of its exciting commissions and extensive foreign exchange trading platforms. Considering commission, IG takes advantage of its size to provide traders with nonconflicting pricing across the board (the product you trade notwithstanding) and stands tall for its busy trader pricing offered via its Forex Direct accounts.
4. eToro
If foreign exchange brokers are picked based on fame and popularity, eToro will be in that category. As one of the top FX brokerage providers for beginners, eToro is highly ranked as one of the best platforms for copy trading. Copy trading allows an individual trader in the financial markets to automatically replicate positions opened and controlled by other selected individuals, enabling the less experienced traders to benefit from the skills and expertise of more experienced traders.
Besides copy trading, eToro has also raised heads regarding brokerage for social and crypto traders. Since its founding in 2007, when the retail Forex era began, eToro has made great steps and currently stands out as the FX broker with a special connection with cryptocurrencies. eToro remains the biggest cryptocurrency contract for difference(CFD) brokerage player.
5. BlackBull Markets
Tech remains the right arm of commerce, and more is seen in foreign exchange trading. That is why we can’t have a complete list of FX brokers without considering the brokerage providers who excel in electronic communications networks (ECNs).
An ECN broker is a financial middleman that employs ECNs to offer clients direct access to other users in equity and currency markets. BlackBull Markets is rightly rated as the broker with the best ECN trading environment. It is also at the top of the game with scalping and hedging.
Since its founding in 2014 in New Zealand, BlackBull Markets has refined its specialty in ECN brokerage, offering exciting commissions. BlackBull Markets also provides a considerably tight range of tradable valuables. These assets include multiple Forex currency crosses & pairs and six notable equity indices.
BlackBull Markets also comes with many benefits. They include ZuluTrade, maximum leverage (up to 1:500 for some currencies), and institution-grade pricing for retail traders. Its ECN execution framework with extensive liquidity is also one reason most raiders consider BlackBull Markets.
Bottomline
Foreign exchange trade is a profitable and top moneymaker venture. With its top gainful potential, FX can be very risky and volatile. A minute can make a difference between fortune and bankruptcy.
Therefore, every trader keen on making remunerative steps through Forex must appreciate the contribution of expert FX brokers. The Currency market is overridden with multiple brokers specializing in different areas far as this lucrative business is concerned. Settling on a relevant FX broker can be the game changer in the currency market.
