Best Online Forex Brokers – Forex Trading Brokers 2013

What is Foreign Exchange?
The foreign exchange market (also known forex, FX, or currency market) is a form of exchange for the global decentralized trading of international currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock.

Why trade Forex?

  • The forex trading volume is huge which means high liquidity
  • It is not limited to any particular region and is dispersed geographically.
  • The forex market operates 24 hours a day except weekends, i.e., trading from 20:15 GMT on Sunday until 22:00 GMT Friday
  • No commissions as in the case of the stock market
  • The use of leverage to enhance profit and loss margins and with respect to account size.

Comparebroker has prepared a list of best forex brokers. You can read the reviews, highlights, and features of the top forex brokers for 2013. You can look at the spreads, trade platforms, execution, customer service and mobile platform.

Before becoming a foreign exchange trader

If you are considering currency trading, you should be an experienced trader who can handle financial losses. Forex trading is risky and is not suitable for most investors. If you have been an active day trader, you likely have the skill set applicable to exchange successfully, or at least possess a rational understanding of the risk involved. It is prudent to keep in mind that market maker forex brokerages are not motivated to help you turn a profit. Quite the opposite, in fact. For the most part, brokers collect money from you regardless of whether you gain or lose, so they have little motivation to help you make money.

How to Select a forex broker?

When selecting a broker, you need to consider whether the broker is a market maker or an Electronic Communications Network (ECN) broker. For the most part, market makers are considered the more nefarious of the two since some have been known to manipulate spreads artificially for their own gain. The more honest market makers only make money off the actual spread between the buying and selling price. ECN-type brokers usually just charge a commission but do not make money off the bid-ask spread, so they are not motivated to manipulate spreads. Be sure to read all fine print and contract details before opening a new account.

Trade on the go with the free MT4 Mobile apps
6% chose this
  • US traders are welcome
  • Free education
  • Trading by telephone
  • Segregated accounts
  • Islamic accounts available
Barron's Survey - MB Trading earns 4.5 out of 5 Stars
3% chose this
  • Practice trading demo account is available
  • Informative tutorials and Education Material available
  • Excellent trading tools
  • No ECN and exchange fees
ATC Brokers Review 2013 - Forex Trading Profile and Review
3% chose this
  • Offers automated trading
  • Block account trading
  • Data feed integration
  • Custom indicators and API integration
  • Access to a number of free charts, as well as technical and fundamental analyses of the marketplace
Trade more than 60 currency pairs
3% chose this
  • Allows you to mark your own indicators on your trading graphs
  • The currency converter is available in over 10 languages
  • Deliver tight spreads
  • Open, transparent market
Open your $50,000 practice account today
6% chose this
    • Can trade more than 50 currency pairs
    • Supports micro lot (1,000) trading
Largest social platform for investing
7% chose this
  • Demo practice account available
  • High Leverage of 400:1
  • Low minimum deposit required to start trading
  • Low Spreads for the major currencies
  • Social Networking to enhance the learning curve
Low cost per trade execution
3% chose this
  • Relatively easy to navigate
  • Competitive Spread
  • Award winning multi language customer service
  • Free demo accounts are available
  • Live Chat very responsive
  • Several trading platform options
Get upto 200 Euro risk free trading with Easy Forex
4% chose this
  • Fixed spreads in all markets traded
  • Uses Metatrader 4 as the trading platform
  • Accounts can be started with as little as $25
  • Deposit funds through credit card, PayPal, and Wire Transfer
Tight Spreads and World Class Education
3% chose this
  • Different easy-to-use trading platforms
  • Strong regulatory framework
  • Good Education material for traders

Forex Brokers: What to Look For

While choosing a forex broker, you must pay an emphasis on the following chracteristics

  1. Minimum Deposit: Opening Minimum deposits should be as low as possible. There are some brokers where you can fund a new account with as little as $100.
  2. Spreads: Before selecting a new broker, you should consider the spreads, and all associated fees.
  3. Money Deposit and Withdrawal: While conducting our research, we noticed that withdrawing money seems to be trickier than depositing money into your account. So, choose a broker which has easy withdrawal options.
  4. Trading Platforms: Most forex brokers offer MetaTrader to their clients as the trading platform. If you are an experienced trader, you are likely already accustomed to using this popular trading platform.
  5. Customer Support & Education: Contacting the forex broker in the time of need and what kind of education they provide matters.

Popular Brokerage Offers

14% chose this

Trade 15 times and you’ll get a free Kindle Fire HD

 

14% chose this

Refer your friends to OptionsHouse and get your choice of $150 or 30 commission-free trades.

 

14% chose this

Access to essential global news, commentary, data and analysis

 

14% chose this

Get a $25 cash rebate to cover the fees for your wire transfer to OptionsHouse.

 

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