When trading the forex market, you need a broker who provides various tools. Furthermore, they should offer education about forex trading so you can make informed decisions about your investments.
The ideal forex brokers will provide a wealth of educational resources, from articles to webinars and market simulators. Furthermore, they should offer a demo account so you can test out their platform without risking real money deposits.
IG
IG is an internationally renowned forex broker that boasts advanced technology and a robust platform. It is regulated by multiple entities around the world and operates under stringent financial licenses.
Traders can fund their IG accounts using wire transfers, automated clearing house (ACH), and debit cards. ACH is the fastest option, though it may take up to three business days for funds to arrive in your account.
IG provides its clients with access to a wealth of free forex news, market signals and webinars. Furthermore, the company’s Twitter feed serves as an excellent source of market updates.
Oanda
Oanda is a well-known forex broker that provides traders with various trading tools and an expansive selection of currencies. It has both web-based and desktop versions available for users to choose from.
FXTrade’s desktop experience offers a wide selection of trading instruments, such as forex, commodities and stock index CFDs. Plus, it boasts fast execution with no requotes and competitive spreads.
The Oanda trading platform provides a suite of charting tools and analysis features. These include technical indicators and visualizations to assist traders in formulating their own trading strategies.
Another advantageous feature is the capability to set trade defaults based on a specified amount in base currency, leveraged NAV percentage or account currency. This helps traders minimize losses and avert margin closeouts.
Oanda provides an impressive library of educational materials, from webinars and books to online courses. Furthermore, it has access to leading financial news sources.
IBKR
IBKR provides a comprehensive selection of trading tools, low fees and superior order routing. Additionally, it has numerous computer and mobile trading platforms as well as educational resources for intermediate investors.
IBKR’s Lite account is ideal for investors who require commission-free trading on US stocks and ETFs. Furthermore, the broker provides a Pro account with two distinct commission structures – fixed and tiered.
Tiered pricing means the commissions you pay for trades decrease as your volume grows. Using a paper trading account can also allow you to test which fees are the lowest before investing actual funds.
IBKR’s SmartRouting technology automates the routing of each leg of a trade to the lowest-cost market maker. Furthermore, clients are able to place orders from one centralized login, making it simple for investors to monitor their accounts.
Pepperstone
Pepperstone is one of the top forex brokers in the world, boasting competitive spreads and quick execution. It also provides traders of all experience levels an extensive range of trading platforms (manual, automated and social), along with sophisticated technical analysis and a forex education suite to help them grow their capital while protecting it.
Pepperstone provides access to over 1,200 tradeable instruments across forex, CFDs and commodities. Its MT4 and cTrader platforms boast sophisticated analytical tools like an “Active Market Panel,” which opens up essential market data.
Pepperstone offers a selection of currency CFDs in addition to index CFDs. These include indexes from Australia, Asia, the UK and North America.
Open an account at Pepperstone by filling out a short form with your personal details. Upon approval, you can start trading immediately with its competitive prices and rapid execution speeds.
About Author
