Best Forex Brokers-Some of the Top Choices
There are many financial assets and instruments open to everyday investors these days. The forex market (sometimes abbreviated to ‘fx’) is one of them, and this market is where investors buy and sell actual currencies. To do this, many people choose to go through a forex broker, which is essentially a middleman that connects buyers and sellers together to execute trades for both parties. And once you’ve signed up with a forex trading platform, you can trade currencies such as GBP, AUD, USD, CAD, EUR, BRL, and so many others.
Since these currencies rise and fall in value against one another, this is where the opportunities present themselves. So now that you know what the forex market entails, how about finding the best forex broker to fulfil your investment needs? All of this is covered throughout.
Best Forex Brokers
The great thing about investing in the forex market these days is that there are so many platforms out there that give you exposure to it. And as previously stated, most of these platforms operate as a currency broker, connecting investors on both sides of the equation. However, not all forex trading platforms are of equal quality, which is why it’s worthwhile doing some research to unearth the cream of the crop. On that note, we believe that the following two forex broker sites are the best you can find:
1. eToro – best overall Forex broker
2. Pepperstone – best for experienced Forex traders
67% of retail investor accounts lose money when trading CFDs with this provider
eToro has been on the scene since 2007, displaying 15 years of online trading services, at the time of writing. This forex trading platform has pretty much revolutionized the way in which people make investments for this market. eToro has achieved this through providing benefits such as commission-tree trades, access to social trading, as well as a wealth of educational investment videos available on the platform. This cocktail of advantages has helped eToro to surpass the 15 million mark in terms of total users right now, which is pretty staggering, to say the least.
The advantages of choosing eToro don’t end there either. The site has a state of the art mobile app where users can trade as easily as they can on a desktop. And if that still isn’t enough, eToro now lets members trade almost 50 currency pairs, with leverage of 1:30 available for those who are eligible. This is why we suggest that you register with eToro when you get the chance.
This can be done through a desktop or on mobile – the choice is yours.
Pros
- A leading platform for social trading
- Almost 50 fx trading pairs
- Zero fees charged for trades
Cons
- Certain withdrawal methods involve fees
- One of the few sites that has inactivity fees
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