It is not possible to make a profit on OTC transactions in foreign exchange management contracts without exposing yourself to the risk of loss, therefore contracts for cost of exchange rates may not be suitable for all investors.
How to choose the best forex broker?
Choosing the right broker is very important, especially if you are just at the beginning of the investing path. It is then that high transaction costs, lack of adequate education, or simply a dishonest broker can completely discourage you from investing. So if you’re wondering which broker is the best, you’ve come to the right place. Check how brokers work and what to pay attention to when choosing so that your decision is fully aware.
Who is a broker?
A broker is an institution operating, for example, on financial markets, which purchases and sells a selected instrument on behalf of a client. Therefore, he acts as an intermediary between the client and, for example, the Stock Exchange, where he buys and sells shares. Their activities are not limited to the stock exchange – insurance brokers can also be distinguished. In the context of investing itself, Forex and CFD brokers are very popular.
Who is a trader?
This is a person who trades in the foreign exchange market. Anyone can become one, regardless of age (although you have to be of legal age) or education, but you must also bear in mind that not everyone is suitable for this. You can be a trader both on the “private” level, by opening a personal account with one of the brokers, and at the professional level.
The forex broker ranking
Investing in the currency market is becoming more and more popular. The growing number of platforms gave us a wider range of possibilities, but at the same time made it difficult to choose the one, the best. How to choose a website that meets our requirements? The ranking of the best forex brokers at tradersunion.com can help You choose a good broker to start with.
When choosing your own broker, check what type of broker it is, check the licenses you have, pay attention to its popularity and duration on the market. Recommended companies are proven companies. The key thing is a stable and useful trading platform. Professional CFD companies are under the constant supervision of financial organizations. You will find these features of a good broker and many others listed in the top 5 forex brokers.
Top 5 the best forex brokers for 2021 by Tradersunion.com
- RoboForex – The broker was established in 2009 and provides its services in 169 countries. Over 3.5 million customers and partners work with RoboForex, which is perceived by experts as a stable, trustworthy company
- Forex4you – The company has been providing a full range of active and passive forex trading services since 2007. Forex4you focuses on responsibility and professionalism. In 2018, according to Le Fonti, the company was awarded “Best Broker”, which is the highest possible award, and has previously consistently won and received nominations for awards, including “Forex Broker of the Year” and “Best Quality of Service nomination.”
- Exness Group – The broker takes a leading position in Forex rankings. The monthly trade turnover of the company is $ 325.8 billion. The broker currently has CFDs available on cryptocurrencies, stocks, over 120 currency pairs, energy and metals.
- Admiral Markets UK – Admiral Markets currently operates in over 40 countries with a money cycle of up to $ 40 billion. The broker has a lifetime license issued by the Federal Service for Financial Markets.
- FxPro – The broker has received more than 70 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks.