To start forex trading, you will need a forex broker first who will provide you with a platform where you will be able to trade currencies. Now, to avoid risk and earn a profit, you must choose the most reliable forex broker for yourself. If you don’t know any good broker, you can choose one from here.
Most Reliable Forex Brokers
These are the most popular and reliable forex brokers whom you can consult:
1. FOREX.com
It is considered the best and most popular forex trading platform ever. That is because it is a one-stop trading platform that offers lots of great facilities for traders. This platform offers a wide range of currencies that a trader can choose. At the same time, it also allows traders to fund a minimum amount but provides access to many impressive things and features. Traders can also take the chance to sharpen their skills through the educational program of this platform.
Pros:
- Easy navigation.
- Tons of research and educational tools.
- More than 80 currencies to buy and sell.
- Up to 50:1 leverage.
Cons:
- Can’t exchange other securities.
2. IG Markets
It is another great and popular broker for forex trading. It is highly secured and offers lots of facilities for all forex traders. However, this platform accepts US-based traders and oversight traders as well. The best thing about this broker is that it provides high security to your trading and currencies. You can trade up to more the 80 currency pair. Besides, this broker supports third-party forex platforms such as ProRealTime and MetaTrader 4.
Pros:
- Compatible for mobile, tablet, and desktop.
- Easy to use and navigate.
- More than 80 currency pairs.
- Easy margin rates.
Cons:
- Poor customer support.
3. SimpleFX
It is also a great broker for forex trading. Now, the best thing about this platform is that you can also invest in other commodities apart from forexes like crypto, indices, and others. However, this platform offers more than 60 currency pairs that you can choose as you like. At the same time, it is easy to understand the platform since it is very easy and offers lots of features for all traders.
Pros:
- Easy to understand and manage.
- 60+ currency pairs.
- No minimum deposits.
- Stock trading.
Cons:
- Too many options.
- Not available for US traders.
4. eToro
I personally suggest people use this platform for forex trading. The reason it is most suitable for social trading. And, you can learn from the experts from their previous track records. In the meantime, this platform has tons of educational and research tools for learning and trading that you can use to sharpen your trading skills. The platform is well organized and easy to understand for all.
Pros:
- A simple and easy-to-use platform for beginners.
- Lots of currency pairs to choose from.
- Demo account that offers $100,000.
Cons:
- US traders can’t trade forex here.
- Only 15 major coins are available for trade.
Conclusion
These are the most popular, reliable, and best forex brokers that you should choose so that you start forex trading and earn great profit without the risk.