Best Forex Brokers 2020
The forex market is one of the most flexible and revenue productive market of the world which represents each global currency with trading conducted 24 hours a day, five days a week.
Forex trading requires a broker. If you want to be lucrative in the forex market a Best broker is foremost. For being a forex investor or a broker (trader), you should know the basics and may have essentials of your platform and research tools and instruments. A rookie or unprofessional behavior of a broker may lead your investment to disaster by his blunders. Although every best forex brokers has its own style of trading but there are some qualities in a broker that shows his worth or level. An investor must be aware of some qualities that a Best broker possesses.
Qualities in Best Brokers
1: Regulated and trustworthy
A best forex brokers is always regulated by the regulatory organization of his country. Like in America a broker is regulated by Commodity Futures Trading Commission (CFTC) and in Australia, it is regulated by The Australian Investments & Securities Commission. He will not hesitate to share the declaration certificates to his client or investor. Any regulated forex broker has a venture or corporation. This quality of the forex broker makes him a trusted one.
2: Excellent Trading Platform
An excellent forex broker is always disciplined and a future thinker.
It possesses full command on advanced research and charting tools.
Excellent Trading Platforms have a proper setup of indicators of charting.
A best trading platform secures your data.
He has a deep knowledge of forex instrument fundamentals.
Its commission slab percentage is always minimum or adequate.
A best forex brokers has no hidden charges on withdrawals.
The volume of investment may affect your profit ratio but not completely. Mainly you need the most is a Best trading platform. To properly research, to place orders on time, to analyze the data, and to process technical analysis, a proper platform really matters.
A best broker is always user friendly and feature-rich platform.
A competent forex broker or trader is always highly qualified in his field. He is able to understand the charting and charting tools on the advanced level. There are some courses or studies like CMT in the USA are offered to the students who are willing to pursue their career as a forex trader.
4: Low fee or Deposit
A best forex brokers always prefers you to invest money in accordance with your ease. He does not pressurize you to invest some fixed amount. He deals with all his clients in the same way. Moreover, he does not ask for money for some advisory fee. His commission percentage is ratio is minimal. A best forex brokers never asks for extra charges on the withdrawal of his client’s profit. His client is free or allowed any time to withdraw his amount.
5: Customer Relationship
A best broker has always a Best communication with his client. The client feels free to contact the broker in case of an emergency or to ask suggestions about buying or selling. A best broker also shares data, news events, or possible fluctuations predictions with his client.
6: No Personal Interests
A top forex broker always takes care of the investment of his client. He not only thinks of his own profit. A scammer or a failed broker always tries to generate commissions for him. He is not concerned with the profit or loss of his client. But a top forex broker always prefers the profit of his customer by suggesting to him proper ideas.
7: Gives You Guidance
A qualified forex broker never suggests you to work without learning some basics about it. He will try to teach you some main principles about trading and make you practiced by demo accounts or try to give you better ideas. He gives your value for your money being invested on a small level on initial stages.
8: Forex Trading on Low Cost
Paying a substantial amount to the forex broker is back-breaking in case of some loss or less amount of profit. The cost of trading might varies broker to broker. Every broker has its own fixed pip rate according to which you can buy or sell. Sometimes the spread is large to pay the commission of broker. But sometimes the range of spread rate is very low. Trade on spread rate might vary from broker to broker. Because of tax, regulatory fees or other service charges of a broker. A best forex brokers will give you a Best return. He will never hesitate to take responsibility in any case of your loss whether it is large or small.
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9: Coverage of the market
If you are working with the best broker you are able to trade in the product you wanted. Some brokers do not cover all the products or markets. They have only a few products to trade with but the best broker always covers the full market.
10: Trading Softwares
A best broker has always best trading software that is user-friendly.
Some scammers have their own software that shows fake trading and prices. There are some real software that is working globally like META TRADER 4 (MT4) and META TRADER 5 (MT5).
11: FX Leverage
Australian traders use the 1:500 ratio of forex leverage for their margin requirements while European brokers utilize the 1:30 as margin.
Higher leverage makes the occurrence of potential profits as well as potential losses.
12: Micro Accounts
The best broker never sets a fixed amount of deposit because some people also work with small money as they cannot afford money on a large scale so they start their trading with even 20 to 30 dollars.
The best broker has always a Best reputation in the market and is also admired in the other competitive brokers also. We should never ignore what people say who worked with your broker.
14: How to choose a Best Forex Trader
If you are new to forex trading, learn some basics about it.
Don’t rely on one broker. Always search for more than two or three brokers, then compare their services, their commission slab, and deduction fees on withdrawal of your profit. This step is very crucial for choosing your broker.
Check out the regulation and the previous record of your broker.
Check out the reviews or contact the people who worked with your broker. They might guide you better.
15: Top Brokers of the World
Here is a list of some brokers who are ranked globally for their services in forex trading. According to the Ranking of the year 2020 these companies are highly ranked for their working.
Year Founded: 2004
Min. Deposit: GBP 250
Max. Leverage: 1:30
Trading Platforms: MT4, IG Proprietary
Regulation: FCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC