Every investment comes with a risk and the same applies to forex trading as well. That is why they say forex trading isn’t for the inexperienced or faint-hearted. Where on one hand, its rapid trade pace and high leverage can lead to huge profits, on the other hand, the investors are also at risk of losing more than their initial investments at the same speed. However, depending on a reliable broker in this regard can guide you the right way while keeping you aware of the risks as well as preparing you to dive in to make some profit.
Since there are a variety of brokers in the market today, searching for the best one often becomes a difficult task. So to streamline your broker finding struggle, we have jotted down the top picks for the best forex trading brokers that are sure to help you with your financial decisions. The best among the forex brokers, not just allows easy access to trade currencies but also offer reasonable costs with strong trading platforms and high-quality educational resources.
So if you’re just starting out and doesn’t know where to place your trust, here are the top 5 brokers that stand out for their trader support and can give you the right start:
- TD Ameritrade: Considered as the best trading platform overall, TD Ameritrade is known for its feature-rich tools that allow you to do forex trading just as you would trade equities, futures, and options. With more than 70 currency pairs to support and 350 technical indicators, it makes for the best platform for both experienced and beginners. With some commission-free options, its pricing is fairly straightforward.
- Ally Invest: It is an ideal platform for both experienced and novice, which is customizable and easy to use. You get to choose between the Classic and the Live platform where Classic comes with over 50 technical indicators and other analytic tools and the Live being robust features more charting tools and advanced features combined with auto trading strategies. With excellent pricing to offer and no commission on any trades, Ally Invest is a great platform to start with.
- Forex.com: The best trading platform on the go as it has the most feature-rich mobile app, which lets you place trades and add funds through it while automatically syncing it with the desktop version. You can trade over 50 currency pairs with no commissions at all, which definitely forms a good choice.
- Interactive Brokers: For active traders, this one is the way to go. With their best pricing and a wide variety of tools, Interactive Brokers help you make trades at the right time with maximum returns. Offering 90 technical indicators that help you track the performance of a particular currency pair and also let you compare a pair to an index to see whether it is underperforming or over-performing. With some of the lowest spreads and sometimes with no markups at all, Interactive Brokers is an affordable platform offering great value.
- Go Markets: Being one of Australia’s original Meta Trader 4 Forex brokers, Go Markets boasts of its powerful and technologically-advanced trading platform, which lets both experienced and new traders to trade the world’s most liquid market with the right trading strategies. With full access to popular platforms like MetaTrader 4 and MetaTrader 5, you can trade 50 plus forex pairs along with analyzing financial markets, trading signals, accessing mobile trading, and effective execution of your orders. A gomarkets review is all that you need to go through to trust this leading Australian broker. Just check out the go markets review today to confirm your choice of broker. For, trading definitely gets better with Go Markets.
No doubt, Forex is a risky option to opt for but with the support and guidance of the right broker, you can definitely dip in your toe to explore the world’s largest and most liquid market. Just make a choice that will impact your success as a trader.
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