Forex Brokers List by Finance Brokerage is aiming to create informational base for selection of Forex Company. It is not just list of “top 10 forex brokers”. Rather a set of forex broker reviews giving professional and trustworthy information on leading Forex Brokers. That is enabling forex trader to select correct one and be successful on forex market.
What is Forex Brokers List?
Forex Brokers List – is created by comparison of major factors shaping business with particular forex broker. The factors are:
- Regulation under which particular broker operates,
- Maximum leverage given,
- Spread on major pips,
- Minimum deposit requested,
- Forex trading platform available for the given broker
- Reviews of particular broker created by real forex traders.
Last but not least: detailed information is available on every Forex Broker on the list. Detailed information on the broker along with listed before consists of following: year of starting operations on forex market, address and other contact details, time zone, availability of demo account and forex mobile trade, allowance of slapping and etc.
Broker list is not just a list, rather a tool that forex trader may and must use before selecting best broker. Brokers are not just companies enabling forex trade. But first they have certain important roles, such as access to the market, trader education and market research.
Criteria for Forex Broker Selection
In fact, there is no such thing as “the best forex broker”. Every Forex Broker is judged by certain criteria’s:
- Spread/commissions – are first to evaluate. These are the costs for the forex trader. Less costs means higher gains on trade. This trade commission may not be as vital for beginner trader with low trade volumes, but as volumes increase it becomes vital;
- Leverage – under current regulations, leverage has decreased significantly. As result margines decreased. But, some not regulated brokers can offer great leverages for traders;
- Regulation – may be key factor for broker selection. Aim of regulation is transparency of trade. Same time it gives additional security for forex trader. In addition regulated forex brokers are said to be more trustful. But different regulations may cause limitations to trade;
- Broker type – some brokers grant direct access to fx market, while others do not. Indirect access is given because broker buys positions on interbank currency market. And after resells them to forex traders. In this case you will need smaller initial balance and will have fixed spreads. Direct brokers, offer variable spread while demanding higher capital;
- Trading resources – forex brokers, do provide market information such as charts, market insights, analysis, news and historical data, information on currency pairs. This is important for both: experienced and beginner forex traders. But important thing is adequate volume of data, because trader may easily lose focus;
- Customer support – no matter how experienced trader is support and support channels are more than important. Empathy your broker shows is as important as its reliability;
- Broker rating on Forex Broker List is not just “stars” but assessment and ideas from real traders.
Forex Broker List, handed out by finance brokerage, has been prepared based on consideration of all possible factors that forex traders must take to account. Finance Brokerage strives to create list that every trader finds useful, easy to understand and reliable. We do not advocate or blame any broker, hence forex brokerage is complex, but we strive to create a base reference list of brokers that enables everyone to select correct broker. Each and every trader has to make own decisions, based not only on factors listed above, but also based on forex brokers offerings and personal ideas.