Forex Brokers with the Best Reviews from Traders

How can you compare forex brokers to find the best one for you? In this review, a wide range of ranking factors was considered. This includes fees and spreads, trading platforms, charting and analysis options etc. Anyway, the final decision will be a pure matter of your individual preferences.

OctaFX

OctaFX

OctaFX is a Forex and CFD trading platform offering low, well-priced spreads. By supporting MT4, MT5, and cTrader trading platforms, OctaFX manages to have the lowest costs in the trading market. Currently, this Forex broker features almost 30 currency pairs, which is considerably less compared to its competitors. Still, you can reach leverage up to 500:1 for currencies, while for metals, indices, and crypto trading a different leverage is eligible.

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XM Group

XM Group

XM Group is well-known as one of the largest investment companies in the trading market. With over one million customers, this online broker has to employ more than 120 experts in the financial field. The traders and investors can benefit from 25 reliable payment systems, 16 trading platforms with many attractive features, efficient customer support, and many more effective tools. Thanks to well-established safety measures, your funds are fully secured on the segregated accounts. Also, there is a special negative balance protection option, meaning that you cannot lose more than you deposited on your accounts.

XM Group’s development strategy is based on the principles of loyalty towards its customers. Thus, this broker always aims to deliver high-quality services, whether it comes to trading with currencies, CFDs on Stocks, Commodities, Precious Metals and Energies, or any other asset.

XM Group aims to follow the latest financial trends by offering tight spreads. That means that this broker follows all business standards by standing for the principles of transparency and clearance in regard to trading conditions, quotes and promotional activities.

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FX Open

FX Open

FX Open is a Forex and Cryptocurrency Broker that has become very popular in the stock market. Despite having the offices in London, Perth, Saint Kitts, and Nevis, they keep expanding their corporate geography. The broker covers all jurisdictions it operates from, including the Financial Conduct Authority (FCA) in the UK and Australian Securities and Investments Commission (ASIC). With over one million customers, the broker offers ECV liquidity for low spreads and fast processing with reasonable commissions. What’s good is that FX Open provides professional trading services to retail and institutional investors through trading accounts, trading platforms, PAMM accounts, and proficient customer support.

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FX Pro

FX Pro

FX Pro is an online broker with the major focus on retail and institutional customers in almost 170 countries across the world. FX Pro’s offering involves 250 assets, covering four sophisticated trading areas: cTrader, Metatrader, MetaTrader, and the Edge platform. In addition, there is a wide range of useful trading items, third-party market analysis, and educational mechanisms for traders. Sadly, the relatively high fees and spreads make it less affordable compared to other online brokers. But the quality offered by FX Pro turns out to be good value for money.

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FXTM

FXTM

ForexTime (FXTM) is a platform dealing with foreign exchange. With over 50 currency pairs including major, minor, and exotic pairs, FXTM can offer leverage of 1000:1. Spreads are competitive across all resources, with 24-hour trading open throughout the week. FXTM has its headquarter in Cyprus while its license has been issued by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other authoritative bodies.

Pros:

MetaTrader 5 charts

The Bottom Line

Finding the right broker is not an easy job, but it is imperative that you get it right. Now when you know some decent representatives of the trading market, you will consider choosing one of them for long-term cooperation. At least, you can take them into account for making the final choice.