Forex trading is a quickly growing market, and many brokers compete for users here. That means the overall picture is constantly shifting: some brokers grow more popular while others become obsolete, so you have to monitor the situation to make sure you trade only with the best brokers. However, the task of comparing dozens of companies is a complex one. To help you out, the Traders Union experts have found and reviewed the best brokerage service out there.
How to find the best one
Each broker has its own advantages and disadvantages, and popularity is also an important aspect in choosing the best company. To determine the most reliable and convenient brokers, the experts have analyzed their fees, conditions, available trading assets, and withdrawal options. Customer support or bonuses are also important, especially for novice traders, so they have been rated, too. With all these aspects compared, it seems that IC Markets is arguably the best Forex platform out there.
Founded in 2007, IC Markets is an international broker from Australia. It has active users in all parts of the world, but it’s especially popular in Europe and Asia. The broker is well-regulated: its transactions are monitored by ASIC, and the company uses the standards set by AFCA to resolve any issues with clients and their funds. The company is known to be extremely secure: your funds are safely stored in accordance with the regulator’s requirements, and there’s also an insurance program.
The broker is popular for its attractive trading conditions. There are many trading tools to choose from: more than 60 currency pairs, futures, and a variety of CFDs on different assets. The minimum deposit is $200, and that’s pretty high compared to competitors, but you can use bonuses to make more while investing less. The leverage goes up to 1:500 for certain assets, and the spreads are pretty tight. The broker allows you to use cTrader, but IC Markets MT4 seems to be the basic option for novices.
IC Markets has an extensive library of educational materials which cover the basics of Forex trading in the form of detailed tutorials. There are also articles that explain how CFDs work, so you can learn by testing these materials right away. The broker features raw spread accounts with low spreads that can be especially useful for professional traders.
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