3 Best Forex Brokers And Platform That is On EDGE In 2020.
One type may be the best Forex broker for beginners while others are better for advanced users.
The most important factors include costs for spreads and commissions, trading software platform, charting tools, customer support, education, research currency, and reliability.
1. IG Group:
Are you looking to trade in the currency or CFD, IG has been a name in Forex trading for over 40 years.
With the ability to trade in Forex, cryptocurrency, individual equities, stock sectors, and commodities, you can use the IG to almost all in Forex.
Pros
- There is no minimum account
- Very trustworthy, regulated by IIROC, FCA, ASIC, CFTC, and the Monetary Authority of Singapore
- Access to spread traditional broker or using raw spread with the commission model
Cons
- Using third-party web applications and sites to research and news
- Educational resources and regular obsolete
- Slow customer service
While the IG has been around forever and is largely considered as the best place to trade Forex because of the data and the number of assets you can trade history, there are some problems that plague older platforms.
For example, if you are a beginner, you may not like the way the IG operation since the interface is clunky and there are not many such educational resources with other brokers.
IG has a minimum of 0.6 pips to trade EUR / USD. However, IG is great because it allows you to trade in Forex, exchange cryptocurrency, individual equity, all sectors of stocks, bonds, and commodities.
You can also trade on interest rates through a browser-based mobile platform and them.
It is also the largest CFD dealer because of the number of its trading revenue. While CFD is quite risky, if you know what you're doing, you might benefit. Most of the UK has a large number of financial spreads in CFD.
However, the IG has been opened to the US in February 2019. Now it can offer low spreads and generous commissions.
2. CMC Markets:
As a publicly-traded company with regulators in four tier-one jurisdictions, CMC Markets is a highly secure, low-risk Forex and CFD broker. It is also considered the most inexpensive option for Forex and active trading.
Pros
- Very competitive prices for generous commissions
- Product catalog a wide and varied
- Liquidity rebate offer for active traders who exceed at least $ 25 million in notional trading volume each month
- Guaranteed stop-loss orders available
- Real-time news and advanced order types
Cons
- limited security features
- No copy or a social trading platform
- US high index for CFD spreads
CMC Markets may be best for active traders as well as beginners. The platform has a variety of educational resources and tools to help you learn about Forex trading and CFD.
Also, you can follow TopAsiaFX for several types of Forex guides and the latest news, analysis, signals, etc.
However, it is also great for those who have higher skills in trading and want to take advantage of them for a minimum of 0.7 pips Forex.
The truth is that CMC Markets has a low spread of the victim with very low trading costs overall.
With very competitive prices, average spread for EURO / USD as low as 0.7 pips and spreads typically to 0.81 pips. This is the latest date for October 2019.
In addition, active traders treated a little better with CMC Markets. You get liquidity rebate ranging from $ 5 to $ 10 million for those trading at a very high level.
Traders also like the Guaranteed Stop-Loss Order (GSLO) which CMC Markets offer.
This means that you can set a risk limit for all of your position, and you are guaranteed to close the trade exactly as you specify.
While most brokers charge for GSLOs, CMC Markets actually refund this charge for you.
You do not need a minimum balance to trade with CMC Markets and offers a VIP discount if you are very active. This platform provides you with the charting tool with over 79 technical indicators.
You can also access pattern recognition and social tool-trading on the Next Generation platform, but it was a little behind on the main platform. You can switch to their MT4 platform for automated trading, but the area has a higher learning curve.
3. Oanda:
If you have been trading forex in the US, then you know Oanda. It was one of only two available in the US brokerage.
It also serves customers in Canada, the UK, Singapore, and Australia. In addition, he has a reputation as the most trusted retail Forex platform.
Pros
- Open a trading account with only $ 1
- Highly secure and regulated in the FCA, CFTC, IIROC, ASIC, and the Monetary Authority of Singapore
- Offer spread of traditional broker and an average spread of cheaper raw
Cons
- Slow support average response
- Little or no new resources education, very regular
- Research and fragmented news trend
Oanda has existed since the beginning of the retail Forex. While it was developed in academia, the company has developed and built a reputation as a trustworthy exchange.
As a Forex broker, it offers better products, better technology, and a dedicated customer base that spans the globe.
Since Oanda has been around since the 1990s, they have the most historical data and offers the latest technology for a trading Forex trader.
You do not need to have a minimum trading account with Oanda. The quality of trade execution is considered high by most traders and has a clear price and cost structure, which makes it more reliable overall as a Forex broker.
You can access a variety of online and via mobile applications, including MetaTrader 4 their application.
So, what do you think about the brokers and platforms which I've mentioned? Please let me know and also if you have a better suggestion then please enlighten me.
