When selecting a forex broker, the key factor is to choose one that is regulated by a national or local authority. This way, you can be sure that you’ll be dealing with a reputable and legitimate broker. Additionally, it is best to choose a broker that offers a variety of account types that can cater to the needs and aspirations of different traders. Lastly, you should consider a forex broker that offers a variety of services, such as customer support and trading education.
There are literally dozens of forex brokers available in the US. The best ones are those that offer access to the full MetaTrader suite. It is important to note, however, that no two forex brokers are alike, so it’s important to do your homework before signing up with one of them. Be sure to research their commissions, minimum deposit requirements, and trading tools to help you choose the best broker for you. The best brokers will also have a wide selection of trading instruments.
Fees vary widely between forex brokers, but they’re generally centered around commissions and spreads. Most forex brokers will deduct a commission based on the size of your trade. However, some forex brokers charge a flat rate, like OANDA. This means that you’ll have to pay $50 if you trade a million dollars.
Regulation is essential when choosing a forex broker. In the US, forex brokers must be registered with the Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), or both. You’ll be able to find out whether a broker is fully regulated by the relevant authorities through the website. In addition, a fully regulated forex broker is less likely to scam you. You should also look for a reliable forex broker that offers customer support around the clock.
IG is a global forex broker that is highly regulated. They offer excellent trading tools, extensive market research, and a wide variety of tradeable products. The company has been in business since 1974, and it’s widely regarded as a global leader in the online trading industry. In addition to their low spreads, IG’s customer support and education programs are also exceptional. The website is also safe for experienced traders, as it’s regulated in the U.S.
CMC Markets is another globally-recognized forex broker that offers low fees and a range of products and services. The company is a publicly traded company in the United Kingdom and has evolved with the rapidly changing online brokerage industry. It is one of the best forex brokers available for U.K. residents and is regulated in four tier-1 jurisdictions.
IG Group was founded by Stuart Wheeler in 1974 and is the most prominent U.K.-based forex broker. They offer a comprehensive range of trading tools and an easy-to-use interface. Additionally, they have competitive fees and are ranked high on customer satisfaction surveys. The company also focuses on functional simplicity and is ranked as Investopedia’s Best Forex Broker for Beginners in 2020.