Before picking a forex broker as your trading partner, checking the forex brokers’ rating would help you determine the best ones in the field.
The fierce competition in the forex brokerage made trading more convenient and accessible for the market participants. To avoid tripping over the wrong forex broker and help you decide more comfortable, let us have a quick rundown of the top-rated forex brokers recommended for forex market investors.
Forexbrokers.com has listed the best forex brokers as rated using the following criteria: commissions and fees, the offering of investments, platforms and tools, research, customer service, mobile trading, and education.
IG, Saxo Bank, CMC Markets and TD Ameritrade are the four top brokers according to the 2019 ratings of the three-year-old rating site.
IG, a London-based company, offers an extensive list of tradable products and is listed as the No. 1 broker in 2019. Posting an overall Trust Score of 99/99, IG is the most trusted forex broker. The only thing that will hinder you from choosing IG is if you are a trader outside the European Union as IG is only available to professional traders within the said region.
Saxo Bank comes next to IG in terms of the Trust Score, tallying 98 points. It was also cited as the favorite web-based platform for 2019. However, Saxo Bank lacks automated trading solutions for copy traders, and MetaTrader is not available in their platforms.
CMC Markets boasts of its 60,000 clients worldwide and is also considered as a low-risk broker. It also has the largest selection of currency pairs in the industry with over 180 pairs. The only thing that CMC Markets has yet to improve is the MT4 offering which only has 80 instruments.
The TD Ameritrade is known for its powerful desktop charting that syncs with the mobile devices. If you are not residing in the U.S., TD Ameritrade is out of reach for you. It also does not offer a web-based platform for forex trading, and the complex platform mechanism may be problematic for beginning traders.
Best forex trading platform
Forex trading platforms are also an essential consideration for beginning traders as these are what would supposedly ease the trading for them.
Over the years, the forex trading platform mechanism has been continually evolving across devices. The desktop, web, and now mobile era of trading platforms have enhanced the traders’ experience providing a reliable aid in all critical areas of trading forex.
Before scrutinizing dominant trading platforms online, consider these critical characteristics as your guide:
- trade market analysis – utilizing charting tools, indicators
- trade execution – having a variety of options to enter and exit the market
- trading strategy development – featuring historical data analysis and system optimization
By far, Saxo Bank is the leading broker in terms of trading platforms offering. Their web-based and desktop-based platforms have set the industry benchmarks for trading platforms. An array of trading tools and streamlined designs have propelled them to the forex trading platform pedestal.
When considering a broker, make sure that it offers a user-friendly trading platform. As a modern gateway to the international trading market, the platforms are designed to aid traders in making the best trading decisions by providing trading opportunities, up-to-date market information, and real-time access to the global forex trading market.