Forex trading is arguably one of the easiest financial markets to start trading. To get started, simply open an account and fund it with a regulated online broker. To choose the best forex broker or best apps for forex trading, find the one that best suits your trading needs and experience level An initial investigation is required for.
I pick the best forex brokers in 6 main categories are displayed below along with details of each broker and screenshots of their trading platform. While reading options keep in mind that the majority of forex brokers will help you open a basic account and start your investment journey. We've chosen based on more services and additional features than we do.
Best Apps For Trading Forex
1. FOREX.com
FOREX.com is a subsidiary of StoneX (NASDAQ:SNEX) and is ranked as the best all-around Forex Broker.
This broker accepts US clients and is regulated in the US by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). FOREX.com, through its affiliates, is also subject to regulatory oversight in six major global jurisdictions.
2. Cedar FX
CedarFX believes that the best market conditions, superior pricing and technology should be combined for clients to grow their accounts. Low spreads generally indicate low volatility, high liquidity and CedarFX pride. CedarFX offers two types of accounts: 0% commission and eco accounts.
Read also: Forex Investment: 5 Best Apps for Trading Stock That You Should Have
3. IG Market
IG Markets allows clients to trade up to 80 different currency pairs. The broker itself just requires a minimum deposit of $250.
IG accepts US-based clients with oversight by the Commodity Futures Trading Commission (CFTC) and NFA. IG keeps funds in segregated accounts under custodian arrangements for added security.
In addition to its own trading platform, IG supports third party forex trading platforms such as his MetaTrader 4 and ProRealTime. API trading is also possible.
4. Simple FX
SimpleFX is available worldwide with a few exceptions. The platform is available through WebTrader and MetaTrader 4, as well as native mobile apps for Android, iPhone and HarmonyOS (Huawei).
Read also: Choose Best Forex Trading Apps for Getting Better Profit
5. Saxo bank
In addition to offering basic stocks, bonds, ETFs and mutual funds, Saxo Bank is a high-level platform for trading leveraged products such as foreign exchange, CFDs, futures, commodities, foreign exchange options, listed options and other derivatives. offers.
6. Interactive Broker
Interactive Broker offers some of the lowest costs in the industry, including $0 commissions on US listed stocks and Exchange Traded Funds (ETFs).
Interactive's global brokerage services cover 134 markets in 33 countries and are overseen by most of the world's largest financial regulators, including the US SEC, CFTC and NFA.
Interactive also provides regulatory supervision in the UK, Australia and Canada, with representatives in Japan, Hong Kong, India and Luxembourg.
7. eToro
eToro is perfect for beginners as it specializes in social trading and allows you to follow the trading of his proven expert traders. In addition to a world-class social trading network, eToro has excellent educational resources for Forex beginners.
Anyone can use eToro's intuitive multi-asset trading and social trading platform and apps right away. Unfortunately eToro does not support his MetaTrader 4 and 5 (MT4 and MT5) trading platforms.
8. AvaTrade
One of the safest brokers in the industry, AvaTrade is one of many best apps for trading stock has 7 regulations across 6 continents (Europe, Australia, Japan, British Virgin Islands, United Arab Emirates and South Africa).
You will be amazed by the availability of assets, leading platforms and generous trading conditions (you can profit from positions up to 400:1).
Read also: 5 Best Apps for Day Trading in 2022, Number 2 You Should Install!
9. FXCC
FXCC is one of the best apps for trading forext and the premier broker for non-US users, with 70 currency pairs, several CFD options, spot metals and top 8 cryptocurrencies to choose from.
Bitcoin, Ethereum and Litecoin are just fodder for the popular cryptocurrencies available. You can also invest in 12 popular stock indices, WTI and Brent Spot Oil.
10. Pepper Stone
Investing with Pepperstone makes it easy to invest in a variety of options including:
- Foreign exchange.
- Difference contract.
- Store.
- Cipher.
The platform offers 24/7 customer service and the option to use MetaTrader or cTrader. Studying forex pairs makes it easier to protect yourself from losses and market volatility.
Through Pepperstone's education platform, you can learn as much as you want and build a diversified portfolio that will help you grow your net worth and build your wealth.
Many brokers allow traders to use leverage to amplify the profit or loss they are taking on their positions. Leverage is usually expressed as a ratio of position size that can be controlled by placing one unit of the base currency on deposit as margin.
A leverage ratio of 500:1 therefore means that you can control a $500 position with $1 margin.
Additionally, most successful traders have a minimum risk/reward ratio to trade before even considering trading, such as 1:2 or 1:3. For example, a 20 pips trade has the potential to lose 10 pips then the risk/reward ratio for this trade is 1:2. We can assume that there is.
Forex brokers will be your primary trading partners and should be carefully selected to be reputable and fit your requirements as a trader.
Open a demo account with any online broker on best apps for trading forex you are considering using to see if it is right for you. Demo account trading also helps prevent potentially costly mistakes that can occur due to unfamiliarity with your broker's trading platform.