Best forex brokers 2024
Choosing a safe and trustworthy forex broker is an important first step for those who want to start trading forex. User friendly and 24/7 customer service, pricing, fast order execution and top class platforms are some of the factors to consider when choosing a broker. Below we list the forex brokers that we have tested ourselves and can recommend.
XM
XM, founded in 2009, is an internationally recognised online broker specialising in forex trading. The platform is known for its user-friendly interface, reliable services and a wide set of tools and resources for traders.
Pros: Competitive spreads
Variety of trading platforms (MT4, MT5, WebTrader)
Extensive educational resources
Copy trading feature
Cons: Can be overwhelming for beginners due to the large number of trading instruments
Skilling
Skilling is a relatively new broker focused on providing a simple and user-friendly trading experience. At Skilling, you can trade currencies, stocks, commodities and more. Founded in 2016 by Scandinavian entrepreneurs with extensive industry experience, Skilling is today a well-established and regulated online platform. The platform is particularly popular among Swedish and Nordic traders and has won several industry awards for its user-friendly features. The registration process is simple and goes quickly and smoothly thanks to the possibility to register with Mobile Bank ID. New accounts are often registered within an hour. Skilling currently has offices in Cyprus, Malta and Spain.
Pros: Beginner-friendly interface
Low minimum deposit
Fast order execution
Educational resources
Cons: Limited trading instruments compared to some competitors, no MT5 offered. Not for traders from USA.
AvaTrade
AVATrade is an established global forex broker known for its social trading platform and diverse range of trading instruments. AvaTrade was established back in 2006. Since 2009, AVATrade has received 9 industry awards such as “Best online broker” and “Most trusted trading platform”. The platform is user-friendly and as a new trader you get access to a wide range of educational material. Many traders choose AVATrade for the ability to trade a wide range of currency pairs as well as stocks, commodities and indices.
Pros: Social trading features
Multilingual support
Risk management tools
Variety of trading platforms
Cons: Higher spreads compared to some competitors
eToro
eToro was founded in 2007 and have more than 35 million users worldwide. It is one of the most popular brokers on the market thanks to its wide range of products. Many people also become eToro customers because of its large forum where traders of all different skill levels can meet and discuss trades and exchange experiences with each other. Once you sign up, you’ll get access to a free demo account where you can test trading without risking real money. eToro is also a popular social trading platform that allows users to copy the trades of successful traders.
Pros: Social trading features
Zero-commission trading on stocks and ETFs
User-friendly interface
Educational resources
Cons: Higher spreads compared to some competitors
To consider when choosing a forex broker
Trading Platforms
Choose a broker with a platform that suits your trading style and preferences
Spreads and Commissions
Compare the fees charged by different brokers
Customer Support
Ensure the broker provides reliable and responsive customer support
Regulation
Choose a regulated broker to protect your funds.
Remember
The best forex broker for you depends on your individual needs and trading style. Consider your experience level, trading preferences, and the features that are most important to you. By carefully evaluating these factors, you can select a broker that will help you achieve your trading goals.
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