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Trading with a reliable forex broker is critical to success in the international currency markets. As a Forex trader or investor, you may have specific requirements regarding the platform, tool, or research requirements. Understanding your investment style will help you determine which FX broker is best for you.
Our team here at ForexBrokers.com has put together a guide to the best forex brokers for Forex and CFD trading. Every single summary highlights why every broker is worth considering.
Best forex brokers
CFDs are complex instruments and have a high risk of quickly losing money due to debt. 74-89% of retail accounts lose money trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best forex brokers for low cost
In terms of competitive all-round pricing, CMC Markets ranked top broker in the commissions and fees category. With an average spread of just 0.744 pips against the EUR / USD (based on September 2018 data), CMC Markets offered the most competitive all-in trading costs, with no additional commissions or fees. The Broker’s Active Dealer Rebate program helps to round off its ranking.
Second was FOREX.com. In the third quarter of 2018, the average spreads for the EUR / USD pair on the broker’s own Advanced Trader platform were 0.77 pips. The 2018 expansion of the Active Trader Program helped bring the City Commissions and Fees Index to third place.
Best forex trading platforms
CFDs are complex instruments and have a high risk of quickly losing money due to debt. 73% of retail accounts lose money when trading CFDs with this provider. You should consider whether you know how CFDs work and whether you can afford to take the high risk of losing your money.
In the category “Best Forex Trading Platform”, Saxo Bank reached the first podium place this year for its sophisticated SaxoTraderGO platform and its new SaxoTraderPRO platform, which is available for desktop, web and mobile. Saxo Bank has been able to virtually perfect the user interface design and user experience with news, research and integrated pattern recognition, as well as the synchronization of watch lists and charts, as well as the cross-device response. Saxo gives traders access to over 30,000 markets, whether they are trading currencies or foreign exchange, while offering extended order types and trading capabilities. These offers help make Saxo the number one in this category.