Top 7 Forex Brokers 2023 & List of Best Forex Trading Brokers
Usually, a trader emphasizes different factors according to his requirement while choosing the broker. Such as, authentication (permission of the regulatory agency), trading experience, trading platform (the broker offers), what forex strategies the broker follows, charge, product offering (currency pair, cryptocurrency, spread, CFD), etc. We have prepared a list of the top 7 forex brokers to help you in selecting a suitable broker.
The forex market directly involves monetary transactions. So, a very small mistake or unwise decision may lead to a great loss. Yes, it is difficult to pick a trustworthy forex broker. But the search becomes more difficult when you have to choose one from varieties of efficient & available brokers. We have prepared the top 7 forex brokers after analyzing their performance in the current market. So, going through our list would lessen your work & pressure too.
The trading strategy is very important in the forex market. All brokers follow different forex strategies to trade in the market. You should pick the broker whose strategy you think would be the best match for you. Before you read the list, know why you should read the list of top brokers.
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Why you Would Read our Top 7 forex Brokers List?
Our goal is to help the trader of all categories starting from beginners to experienced or professionals. We have prepared a completely unbiased list after researching thousands of forex brokers. You will get all the important & supporting information about these top brokers on https://bestfxbrokersreview.com/.
This list will let you what forex strategies they are following, what they offer. We have tried to accommodate all the vital information about the brokers. Going through the list would help you to know if the broker provides all services that you are expecting.
The list will save your time to research on the web & collect all the information regarding the brokers. It is less tiring too. Besides, you can compare two or more brokers’ trading strategies.
What Forex Strategies Help a Forex Broker to Rank on the Top?
While preparing the top 7 forex brokers list, we have considered multiple criteria & services they are offering. Through analyzing them, we have created the list. Some important criteria to rank them are,
- A wide variety in currency pair: The more variety a forex broker pair offers, the more the broker is chosen by the client to trade through. So, a potential broker will keep large variation in currency pairs. The broker must provide the six actively-traded currency pairs to trade. The six major currency pairs are,
- USD (US dollar) vs. EUR(Euro)
- USD (US dollar) vs. AUD (Australian dollar)
- USD (US dollar) vs. CAD (Canadian dollar)
- USD (US dollar) vs. GBP (British pound)
- USD (US dollar) vs. CHF (Swiss franc)
- USD (US dollar) vs. JPY (Japanese yen)
- Transparent & fair-trading fee: Different brokers have different policies regarding trading costs. The spread varies with currency pair & current market value. The top broker will explain all the charges & expenses to the investor prior to the trading. The top 7 forex brokers don’t have any hidden charges.
- Low withdrawal fee: Usually top brokers don’t take a commission on the withdrawal of money. If the broker charges a fee then, the amount is kept minimum.
- Variation in deposit & withdrawal methods: Keeping variation in deposit & withdrawal procedure is one of the wise forex strategies. The top brokers offer PayPal, Automated Clearing House (ACH) payment, wire transfer, bank cheque for money deposition. And they offer bank cheque & wire transfer service to withdraw your money.
- A client-friendly platform: The top 7 forex brokers offer a very good trading platform to the investors. They provide good customer service to meet the client’s satisfaction. They cooperate with all categories of clients from the novice to the experienced one.
Besides the above-mentioned factors, we have considered many other forex strategies to make the list. A good forex trader never sticks to fifteen or twenty particular trading strategies. Forex is the most liquid market. So, only a set of rules will not always bring success in trading. Definitely, the forex broker has some general forex strategies. But they modify their trading strategies to adapt to the changing market.
Seven Essential Qualities the Top 7 Forex Brokers Have!
Regulatory Body:
Regulatory agencies are the place of trust of the investors. They authorize the forex broker’s business. Regulators ensure that you are safe to trade with the broker. The brokers who are regulated by the regulatory agencies don’t have chance a to fraud with the client. Because, they are accountable to the agency for their action & work policy. The regulatory agency keeps an eye on the forex strategies of the brokers. Some of the brokerage regulatory bodies are,
- United States: Commodity Futures Trading Commission (CFTC), National Futures Association (NFA)
- United Kingdom: Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA)
- Australia: Australian Securities and Investment Commission (ASIC)
- France: Autorité des Marchés Financiers (AMF)
- Germany: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN)
- Switzerland: Swiss Federal Banking Commission (SFBC)
- Canada: Investment Information Regulatory Organization of Canada (IIROC)
- Dubai, UAE: Dubai Financial Services Authority (DFSA)
Safeguard your Information:
The top 7 forex brokers have praiseworthy privacy policies. When you open an account to trade with the broker, you provide some crucial information. Such as, bank account information, credit card detail, passport detail, utility bills, etc.
The client always expects his information will be safe with the broker. Top brokers emphasize on their client’s privacy. They take all the necessary measures to protect their customers’ data & information. Brokers take important forex strategies to ensure secure trading.
Transaction Cost:
The forex broker makes money through transaction costs. Such cost varies from broker to broker. Standard forex strategies involve spread & commission as transaction costs. The spread & commission value fluctuates in accordance with the change in market value. For a client, it is not always wise to trade with minimum cost. They sometimes need to spend more cost to receive a better profit.
Top 7 forex brokers charge a standard transaction fee on trade. They keep in mind the profit of the investor as well. They keep the transaction transparent which is why the investor trusts them & likes to trade with them.
Trading Platform:
The trading platform is usually the software you will use for trading purposes. Like, execution of the trade, managing the market position through an online broker. The trading platform needs to be affable. The top 7 forex brokers provide you
- A user-friendly & safe trading platform
- A completely free news feed to explore
- Variation in resources & learning tool
- Easy to use
- Charting & technical tool are quite simple to use
- Some of the brokers offer you to personalize your own platform
- Offers multiple ways of trading (like social trading, web trading, mobile trading, etc.)
Clients prefer simple & easily navigable platforms. The brokers use simple forex strategies to make the platform user friendly.
Customer Service:
Customer satisfaction is the ultimate driving force to keep the brokerage business going. In spite of advancements in technology & automation of the trading, it is obvious that problems may occur. How well your broker will solve the problem is important here. Our top 7 forex brokers provide excellent service to their clients’. They never compromise with the quality of service. They have adopted doable forex strategies to serve the investors in the shortest possible time.
The forex market is open 24 hours. Due to the difference in time zone & regions, clients ask for service at different times. Top brokers generate immediate responses to the clients. They usually provide multiple communication channels to reduce waiting time. The technical supports they provide are commendable as well.
Educational Resources:
A good forex broker will guide you to improve the forex strategies in order to make maximum profit. It will help you to grow from a beginner to a professional investor. The top 7 forex brokers provide educational resources like beginner guides, tutorials, video to help you in trading.
A Professional Website:
The way a broker house presents itself on the web explains a lot about its potentials, activities & growth. The website (with proof of authorization by the regulator) is the best way to present them as a reliable brokerage. The organized websites of the top 7 forex brokers is a good approach to draw the attention of the investors.
More than $5 trillion is traded in a day around the world in the forex market. The transaction value is much larger than the volume on the New York Stock Exchange. So, you understand, how important it is to choose the right broker for monetary transactions in the forex market!
Following the right forex strategies will lead you to success in trading. with the expansion of technology, the number of available brokers is on the rise. Everyone claims you to provide lots of services. But you need to verify who will actually provide you the services in the form of action & not only as in word. We are here to help you in this regard. We prepared the top 7 forex brokers after proper research. You can save your time from choosing from a list of ten than to pick one from hundreds of unorganized brokers. We are providing you top broker’s website links too. Pay a visit & pick the one that suits you best.
More than $5 trillion is traded in a day around the world in the forex market. The transaction value is much larger than the volume on the New York Stock Exchange. So, you understand, how important it is to choose the right broker for monetary transactions in the forex market!
Following the right forex strategies will lead you to success in trading. with the expansion of technology, the number of available brokers is on the rise. Everyone claims you to provide lots of services. But you need to verify who will actually provide you the services in the form of action & not only as in word. We are here to help you in this regard. We prepared the top 7 forex brokers after proper research. You can save your time from choosing from a list of ten than to pick one from hundreds of unorganized brokers. We are providing you top broker’s website links too. Pay a visit & pick the one that suits you best.
Top Rated Online Best Forex Brokers 2023
