As the largest exchange market, both in terms of liquidity and volume, Forex is constantly recruiting new traders. In fact, more and more individuals are engaging in currency speculation as a quick way to make money. And yet, despite the different strategies and tools available to traders, they cannot expect to make a profit until certain conditions are met. Choosing a reliable broker is one of the most important steps in trading. But how do you make the selection? In order to make it easier for you, we have selected the best Forex2023 brokers for you, all available on our site.
The best online brokers to trade
IQ Option: an innovative broker
IQ Option is one of the innovative online trading platforms. The platform allows Traders in United Kingdom to broaden their financial portfolio with the purchase and sale of currencies, cryptomoney, commodities and shares. Released in 2013, the platform is available in more than 12 languages. With more than 70 options available for trading, you will have the choice. The platform offers 2 account types. The Real Account to invest directly in all the resources offered in less than 72 hours and a VIP account to take part in trades led by expert analysts.
BDswiss: Germany’s leading forex and options company
BDswiss is a very good German broker with a very good reputation in Germany. BDSwiss will suit the intermediate and advanced trader
XTB: a trusted European broker
XTB or X-Trade Broker was launched on the market in 2002. It is a broker based in Poland but present throughout Europe. It is recognised by the leading European regulatory authorities, including the AMF and ACPR Banque de United Kingdom. It also complies with the MiFID directive and has, among other things, an office in Paris. XTB does not require a minimum deposit for standard accounts and provides new traders with a demo account. As a No dealing desk, it applies fixed and variable spreads, depending on the type of account subscribed to. As a reference, the average spread is 1.6 pip for the EUR/USD pair. Around 50 Forex pairs are available on the portal, in addition to commodities, indices and shares. The broker offers a maximum leverage of 200.
Avatrade: Europe’s leading Forex broker
Launched in 2006 under the name AvaFX, Avatrade is qualified as one of the most serious Forex brokers in Europe. It is recognized by the main supervisory institutions, including the ACPR Banque de United Kingdom, and is fully compliant with the European MiFID directive. The broker gives access to trading from $100 deposit. It then allows its new members to practice freely for 21 days via a demo account. Avatrade is a dealing desk type and applies fixed and variable spreads. As an example, the spread for the EUR/USD pair is 3 usd and no additional commission is charged on transactions. Avatrade has around 60 currency pairs, plus around 100 CFDs. The broker offers leveraged trading, allowing you to bet up to 400 times your capital. In terms of platforms, Avatrade offers a wide choice to traders of all levels. A social trading tool, the MirorTrader, is, among other things, made available to them.
Trade.com: a promising new broker
Trade.com is a new forex broker in United Kingdom since2016. Owned by Leadcapital Markets Ltd, registered with Regafi, it complies with all the European financial rules of the MIFID. Its regulations make it a partner of choice, especially as it is geared towards beginner traders, even though it has the MetaTrader 4 platform for experienced traders. What we liked about this little youngster is the training center, which is totally accessible without registration. His offer is similar to the EUR/USD spread and the leverage is 200. If you are a beginner, this broker may be the answer to your expectations.
Brokers not recommended by DoctorBinaire
Plus500: a platform that leaves you in doubt
Based in Israel with an operational subsidiary in London, Plus500 is only a CFD provider founded in 2008. This brokerage firm is listed on the London Stock Exchange and is recognized by the FCA. It offers a streamlined trading platform. This Forex broker facilitates access to trading by requiring no minimum deposit (thanks to the demo mode) and, once connected to the platform, the trader benefits from a wide choice of assets, with more than 2,000 instruments available. There are around 50 Forex pairs, as well as stocks, stock indices and commodities. Plus500 also applies leverage (1:30) for traders who wish to speculate. However, the value of the leverage depends on the asset in question, especially in currencies. Please note that CFDs are only available to experienced and experienced traders.
NessFX: a no dealing desk broker
NessFX is a Forex and CFD broker under the brand name of Lionsman Capital Markets Ltd. It is the parent company that owns the binary option broker OptionWeb. NessFX offers a no dealing desk service with a number of tools to help you with your trades and limit your risk. Its complete training center will be an indispensable tool for beginners as well as its demo account.
ETX Capital: ease of access and attractive returns
Officially launched in 2009, ETX Capital is a London-based broker specializing in Forex and CFDs. It is a registered trademark of the Monecor Group, existing since 1965 on the market and listed on the London Stock Exchange. The company is regulated by the FCA, which is the regulatory authority in the UK. ETX Capital offers privileged access to beginners by requiring no minimum deposit. It is particularly renowned for its asset panel, which includes more than 3,000 tradable products, including Forex currency pairs, but also indices, commodities and equities. The broker is a No dealing desk type, which allows him to offer very competitive spreads. In particular, the spread applied for the EUR/USD pair is only 1.4 pip, but it is still variable depending on market movements. Traders at ETX Capital also have the possibility of using leverage in their transactions. The broker allows you to bet up to 400 times your available capital.
IG: 40 years of experience at the service of traders
In existence since 1974, IG, formerly IG Markets, is one of the oldest and largest Forex brokers. Its 40 years of experience have enabled it to build a great reputation in its field and, today, it is omnipresent on the international market. IG is notably recognized in Europe and is regulated by the AMF. It stands out from other brokers by its internal quotation system, which, based on a market-maker model, allows trading even when the market is closed. IG is also appreciated for its very tight spreads. For the EUR/USD pair, the spread applied is notably 0.8 pip, and on the DMA platform, direct trades can reach up to 0.3 pip. On the portal, IG members can choose from over 10,000 trading instruments, which include a wide variety of assets. In addition to currencies, these include equities, indices, and commodities. In order to access the trading platform, new IG members must make a first deposit of at least €100. Before starting, they can also practice free of charge with a fictitious €30,000.
FXCM: an experienced broker operating since 1999
FXCM or Forex Capital Markets has been active in the Forex and CFD market since 1999. This broker enjoys a worldwide reputation and is particularly present in United Kingdom, where it has offices in Paris. It is registered with the main regulatory bodies, including the AMF and ACPR Banque de United Kingdom. Outside United Kingdom, it is active in various countries, including the United Kingdom, China and the United States, where it is listed on the NYSE. FXCM offers approximately 40 currency pairs, as well as indices, energy, metals, and government bonds. FXCM’s no dealing desk spreads are very attractive, averaging 0.5 pip for EUR/USD. FXCM also allows for leveraged trading, up to 400:1. In addition, it charges additional commissions starting at €0.03 for Forex trading. The minimum deposit on the portal is €50.
Every broker can present both positive and negative points. The trader will choose his broker according to his level and requirements. It is then necessary to take the time to inquire in depth to be sure to choose the trader offering the best services taking into account everyone’s expectations. In any case, the brokers previously listed are the most reliable to trade well in2023.
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