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Which Is The Top Forex Broker in 2019?

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We reveal which is the best fx broker/trading platform in 2019 allowing islamic accounts. Our selection contains only the most trustworthy platforms, which we have further rated based on several criteria: trading fees, currency pairs, trading assets, charting tools, platforms, knowledge level etc. After analysing all of the information available this is over selection:

Best Forex Trading Platform

  1. IQ Option – Best for Binary Options Trading –  4.8 Stars
  2. XTB – Best Forex and CFD Broker – 4.8 Stars
  3. FXCM – Best Technical Tools – 4.5 Stars
  4. OandA – Best API – 4.5 Stars
  5. IG – Best for CFDs, Most Trusted 4.5 Stars
  6. Forex.com – 4.5 Stars
  7. Saxo Bank – Best Overall 4.5 Stars
  8. TD Ameritrade – 4.5 Stars
  9. Dukascopy – Best for Trading Tools, Mobile Trading 4.5 Stars
  10. FxPro – Best for MetaTrader 4.5 Stars
  11. CMC Markets – 4.5 Stars
  12. eToro – Best for Social, Copy Trading – 4.6 Stars
  13. Interactive Brokers – Best for Professionals 4.4 Stars
  14. Swissquote – Best for Crypto, Banking 4.4 Stars

All of the brokers we took into comparison are considered as safe as they are all regulated by the top tier regulators like the FCA and ASIC and also have a long standing trading tradition.

Considering all of the many factors, we think that the most important ones are trading fees and a user friendly platform. The trading fee’s should be reasonable and the trading platform should be easy to understand and use.

What all of the compared brokers also have in common are the free demo trading accounts. If you are just starting out with forex trading we highly recommend you to start trading with a demo account where you can’t loose any money – as you probably know, forex trading is highly risky and you can loose money in matter of seconds.

All of the brokers also enable CFD trades. This are high risky and complex contracts and are not suitable for beginners traders – you can loose all of your investment in seconds.

Taking all of the above information into consideration this are our favourite brokers in overview:

Best Forex Broker Overall

1. IQ Option (Best Binary Options Trading Company)

 

With almost 16 million accounts and 3,6 million trades per day IQ Options is a legit and transparent trading platform following the latest financial regulations, which enables users to trade a variety of different instruments and assets like forex, stocks binary options, cryptocurrencies etc.

The trading experience is pretty smooth. Based on the high level functionality the platform is a good fit for professional traders, but it is also a good fit for beginners as it is really easy to understand and navigate. If you sign up you can be sure to interact with an intuitive platform that enables access to a a big amount of resources, and trading options.

The platforms comes with a few drawback as well. The customer support is still being upgraded and at this time it can happen that you will need to wait for more than 24 minutes in order to have your queries processed. If you are just starting out and you will need to interact with a customer support agent on a daily basis, than you need to pay an fee of $3000 in order to secure a consistent communication. USA, Japan and Canada based traders are not allowed to register with IQ options

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

2. OandA (Most user friendly trading platform + best API)

OandA-logo

 

OandA has won many awards this year as the best overall pick for forex and CFD’s trading. It is a well trusted company regulated by the top tier regulators like FCA and ASIC.

We would recommend this platform to users who are looking for a user friendly trading platform including high end research tools.

pros-cons

+ On the positive side OandA offers one of the most user friendly and easy to use platforms including fully digitalised account opening and powerful research tools including the best API in the industry.

On the flip side you can only trade forex and CFD’s with a pretty high withdrawal rates. Their support would need some improvement as well..

Forex trading for new investors – what you need to know and how to choose your broker.

3. FXCM (Best Technical Tools)

fxcm-trading

FXCM is a UK based forex broker which offers some CFD’s as well and is regulated by some top tier regulators like FCA and ASIC.

We would recommend this platform to users looking for great technical research tools.

pros-and-cons-2

+ What we found best on this platform is the fast account opening options, low trading and finance fees and the high end technical research tools.

On the downside, FXCM only offers forex, CFD’s and some crypto trading options. Their platform needs and update as it is outdated and not user friendly.

No minimum deposit required so feel free to give it a shot – inactivity fees charged only after a year.

4. XTB (Best Fx and CFD Broker)

XTB is primarily a CFD and forex broker regulated by the most trusted financial regulators including the FCA and is also listed on the Warsaw stock exchange.

We would recommend this platform to users looking for fast deposit and withdrawal + great research tools.

pros-and-cons-3

+ What we found best about this platform are the fast deposits and withdrawals and also the hassle free account opening. The platform is easy to use and has a lot of research tools as well.

On the negative side trading assets are limited to forex, CFD’s and real stocks in some limited countries. The support is a standard solution, but the employees can be a bit pushy some times.

In a nutshell, XTB is recommendable for clients who want to trade forex and CFD’s and are looking for a hassle free account opening, low withdrawal fees and great research tools. Demo account option available.

5. Forex.com ( Great all-around offer)

forex.com-logo

FOREX.com is a forex and CFD broker offering over 84  currency pairs and 230 CFD’s across major asset classes. The brand is part of the GAIN capital holdings which operates in multiple countries holding licenses from many different regulatory hubs including UK, US, CA, Japan and Australia.

We would recommend this platform to active and mid active traders as they will benefit from slightly lower trading fees and spreads.

+ Forex.com is an overall solid forex broker with a high level of trustworthiness. With over 145.000 clients and nearly $1 billion in assets you can’t do anything wrong. As a beginner you can open a demo account depositing a minimum of $250, before investing real money. On the other side advanced traders can access a premium account by depositing $25.000 or by trading $25million in monthly national value.

 There are no major downsides on this platform. What we could lay out as a downside is the fact that the MT5 trader did not rolled out yet.

In a nutshell, as a trustworthy global player, Forex.com offers plenty of trading options for Forex and CFD traders. With all of the major trading platforms, diverse trading tools and research tools FOREX.com is suitable for almost all traders at all experience levels.

Best Forex Broker in UAE

  1. IQ Option – Best for Binary Options Trading –  4.8 Stars
  2. XTB – Best Forex and CFD Broker – 4.8 Stars
  3. FXCM – Best Technical Tools – 4.5 Stars
  4. OandA – Best API – 4.5 Stars
  5. IG – Best for CFDs, Most Trusted 4.5 Stars
  6. Forex.com – 4.5 Stars
  7. Saxo Bank – Best Overall 4.5 Stars
  8. TD Ameritrade – 4.5 Stars
  9. Dukascopy – Best for Trading Tools, Mobile Trading 4.5 Stars
  10. FxPro – Best for MetaTrader 4.5 Stars
  11. CMC Markets – 4.5 Stars
  12. eToro – Best for Social, Copy Trading – 4.6 Stars
  13. Interactive Brokers – Best for Professionals 4.4 Stars
  14. Swissquote – Best for Crypto, Banking 4.4 Stars

1. IQ Option (Best Binary Options Trading Company)

 

With almost 16 million accounts and 3,6 million trades per day IQ Options is a legit and transparent trading platform following the latest financial regulations, which enables users to trade a variety of different instruments and assets like forex, stocks binary options, cryptocurrencies etc.

The trading experience is pretty smooth. Based on the high level functionality the platform is a good fit for professional traders, but it is also a good fit for beginners as it is really easy to understand and navigate. If you sign up you can be sure to interact with an intuitive platform that enables access to a a big amount of resources, and trading options.

The platforms comes with a few drawback as well. The customer support is still being upgraded and at this time it can happen that you will need to wait for more than 24 minutes in order to have your queries processed. If you are just starting out and you will need to interact with a customer support agent on a daily basis, than you need to pay an fee of $3000 in order to secure a consistent communication. USA, Japan and Canada based traders are not allowed to register with IQ options

2. XTB (Best Fx and CFD Broker)

XTB is primarily a CFD and forex broker regulated by the most trusted financial regulators including the FCA and is also listed on the Warsaw stock exchange.

We would recommend this platform to users looking for fast deposit and withdrawal + great research tools.

pros-and-cons-3

+ What we found best about this platform are the fast deposits and withdrawals and also the hassle free account opening. The platform is easy to use and has a lot of research tools as well.

On the negative side trading assets are limited to forex, CFD’s and real stocks in some limited countries. The support is a standard solution, but the employees can be a bit pushy some times.

In a nutshell, XTB is recommendable for clients who want to trade forex and CFD’s and are looking for a hassle free account opening, low withdrawal fees and great research tools. Demo account option available.

3. FXCM (Best Technical Tools)

fxcm-trading

FXCM is a UK based forex broker which offers some CFD’s as well and is regulated by some top tier regulators like FCA and ASIC.

We would recommend this platform to users looking for great technical research tools.

pros-and-cons-2

+ What we found best on this platform is the fast account opening options, low trading and finance fees and the high end technical research tools.

On the downside, FXCM only offers forex, CFD’s and some crypto trading options. Their platform needs and update as it is outdated and not user friendly.

No minimum deposit required so feel free to give it a shot – inactivity fees charged only after a year.

4. OandA (Best API)

OandA-logo

 

OandA has won many awards this year as the best overall pick for forex and CFD’s trading. It is a well trusted company regulated by the top tier regulators like FCA and ASIC.

We would recommend this platform to users who are looking for a user friendly trading platform including high end research tools.

pros-cons

+ On the positive side OandA offers one of the most user friendly and easy to use platforms including fully digitalised account opening and powerful research tools including the best API in the industry.

On the flip side you can only trade forex and CFD’s with a pretty high withdrawal rates. Their support would need some improvement as well..

Top Brokers Overall

RANKBROKERINFORMATIONBEST IN OFFICIAL WEBSITE
#1IQ OPTIONSGlobal CFD and FX brokerBest Forex & Options Broker
#2ETOROIsraeli social trading broker Best Social Trading
#3XTBGlobal CFD and FX brokerBest CFD and broker
#4FXCMUK-based forex brokerBest technical tools
#5OANDAAmerican FX brokerBest API
#6PEPPERSTONEAustralian forex brokerBest Support

Once you clear the beginning hurdles, other criteria come to the front.

  • Selection of currency pairs
  • high-quality tools
  • moderate costs

are the decisive factors investors expect from a good broker and that is what OandA and Forex.com deliver. Both offer a large selection of currency pairs available to trade, 70+ for OandA and 80+ for Forex.com, have low account minimums and the highest legal leverage ratio of 50:1. They also both provide the choice between commission accounts and spread markup accounts. Commission accounts have a fixed commission fee but will in turn offer lower bid-ask spreads.

A number of high-quality trading platforms are available with these brokers, also including the in-demand MetaTrader 4. Customer support is not neglected as both brokers provide support six days a week (Saturday excluded), covering your needs when the markets are open.

Top Low-Cost Brokers: OandA / ATC 

As mentioned before, figuring out and comparing the costs of forex trading is not always straightforward. Low-volume traders might fare better and cut costs with brokers that offer reasonable spread mark-ups rather than charging commission. OandA consistently offers lowest bid-ask spreads on the main currency pairs and reports the spreads on the website.

High-volume traders, on the other hand, may have lower costs with brokers that offer tight, competitive spreads and charge a flat commission rate.

ATC Brokers scores high in both categories. They charge a 1 US dollar commission per 10,000 traded and 10 US dollars per 100,000, but their commission is charged round turn, which means a full completed trade (both buying and selling) and not each side separately.

Top forex trading tools and platforms: TD Ameritrade / Forex.com

If you like to get technical and use advanced tools to assist your trading, TD Ameritrade or Forex.com might be the broker of your choice.

  • Forex.com makes quite a few appearances on our list and deservedly so. Besides the advantages making them one of the top overall picks, the broker offers a variety of platforms for the user to choose from. In addition to the popular choices like Ninja Trader, MetaTrader4 and MT4 Mobile, Forex.com also offers its own desktop, web and mobile platforms. Currency charting and analytic tools needed to make an efficient plan are provided with access to TradingView.
  • TD Ameritrade has its very own popular platform called thinkorswim that offers a range of different investment products besides currency trading. The platform is on par with professional trading tools, enables you to create your own custom currency pairs and offers advanced technical analytics. The only possible shortcoming of the platform is that new users might find it difficult to navigate the complexities of the advanced environment. The company also offers a trading mobile app called Mobile Trader.

Forex Trading for New Investors – What You Need To Know and How to Choose Your Broker?

Foreign exchange market, usually abbreviated as Forex, is a decentralised global market for international currency trading. This market sets the exchange value of different currencies and because the trading is always done in pairs, this means the value of a specific currency is not absolute, but relative compared to another specific currency (e.g. 1 US dollar is worth X euros). It is the largest market in the world by volume and it is by no means suitable for easily intimidated traders.

forex-broker-trading-volume

Every investment carries a certain risk, but forex trading exposure is higher than most.

  1. One of the reasons is the fast pace of the game, currency trades happen continually, 24 hours a day, except on weekends. When one market closes, another one opens in a different country, so prices vary constantly.
  2. The other reason which is considered high risk is the fact that forex trading offers high leverage ratios, meaning that you can hold positions much higher than your initial capital. Combine the leverage with the rapid pace and you can easily see the allure of forex trading for the investors – significant profits in no time, but beware, your losses can also quickly exceed your initial investment and you might end up in the red.

When choosing your broker there are a number of things to consider like:

  • platforms,
  • leverage ratios
  • number of currency pairs on offer
  • customer service and support
  • costs of doing business

These factors differentiate brokers and you should review and compare what they offer to find what best suits your needs. Brokers usually charge their costs in two different ways – either they charge a brokerage commission per trade or they pocket the difference between the bid price (the price for selling a currency) and the ask price (the price at which you buy a currency), also known as the spread. Brokers that claim no commissions are charged usually widen the spread and basically earn a commission that way. Taking these two different methods into account means that a direct costs comparison between brokers is not totally straightforward. The fact that there are numerous brokers across different countries, who may or may not be regulated, only makes the choice more complicated. To simplify the decision-making process, we have chosen to only focus on the brokers regulated by the Commodity Futures Trading Commission and the National Futures Association for the purposes of this list.

So, if you understand the risks and complexities of forex trading and are still willing to give it a go, here are our top forex broker choices.

 

This is the list of our brokers in review:

 

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