Comparison of the Best Forex Brokers

Whether you’re a beginner or experienced Forex trader, the broker you choose can affect your further presence on the Exchange market. Here are the strong and weak sides of the three best Forex brokers in the world.

Exness

Exness is an online Forex broker that delivers services for trading the financial market. In 2008, this online broker was established by a group of financial trading professionals in Cyprus. Exness manages to provide its clients with the ability to trade over 120 forex trading assets, proceed with adequate market orders, and record tight spreads for different currency pairs. This online broker provides a medium for systematic improvement of trading terms by offering eloquent Forex trading tools, functional trading resources, quality trading services, efficient customer support, and various deposit and withdrawal options. What makes Exness stand out from the crowd is its transparency and honesty as the major principle.

Pros:

• Possibility of low spread and low deposit requirements;
• 24/7 efficient customer care service system offered in more than 24 languages;
• Availability of the Instant withdrawal and deposit system;
• Adequate trading platforms such as MetaTrader 4, MetaTrader 5, Mobile trading platform and an MT4 Web Terminal;
• More than 90 Forex trading account currency options;
• Effective trading instruments like trading indicators and chartings systems;
• Ability to trade over 120 currency pairs;
• Availability of a free VPS hosting;
• Efficient trading instruments like a currency converter and calculator for fast currency conversions;
• Professional Forex trading condition involving tight spreads of 0.1 pips, a leverage ratio of 1: unlimited, minimum initial deposit as low as one dollar, fast order processing, and various deposits and withdrawal options with no extra service charge;
• Regulation by authoritative financial authorities providing absolute security of a trader’s personal data.

Cons:

• No support of social networking forms of Forex trading;
• Lack of rewards and bonuses for new and existing clients.

XM Group

XM.com is an online broker that processes forex trading through its trading platform where traders can easily buy and sell assets. Also, it assists traders in trading precious metals, energies, CFDs and stock indices. Its trade name of Trading Point of Financial Instruments Ltd was registered by a group of interbank dealers who provided adequate forex trading services to forex traders worldwide. XM.com is an international Forex broker that has been on the market since 2009. Since that time, it has developed a decent system of trading conditions, business transparency, and customer support.

Pros:

• Efficient customer services offered by Forex traders 24/5 through phones, live charts, and emails;
• Excellent deposit bonuses and discounts reaching $5000 for new and experienced traders;
• Easy medium, quick and easy deposit and withdrawal options;
• Beginner-friendly concept providing Forex traders with a GUI (Graphical User Interface) in the form of graphical icons and visual indicators;
• 100% guarantee of the execution of trade orders;
• Ability to open a demo account in other to learn the forex market before a “big” game;
• Transparency as a major principle of work contributing to customer loyalty and honesty.
• Assistance of Forex trading advisors providing traders with the ability to follow mandatory rules for several trade entries.

Cons:

• There aren’t many downsides to XM, with just one being that it does not support PayPal as a funding option.

UFX Markets

UFXMarkets is a Cyprus-based investment bank that aims to create an enjoyable trading experience for new and professional traders. The broker provides a special proprietary resource and a wide range of account options to choose from so they can fulfill the needs of every trading strategy. UFX Markets developed the visually attractive design of their website and trading platform. The platform is much simpler than the average MetaTrader4, featuring only one window. Instead of restricting data, this allows traders to concentrate on the actual execution without distraction. Thanks to the detailed guidelines at the top of the screen and a simple navigation system, clients can switch between Forex, commodities, indices and other trading functions. The broker provides a wide range of learning instruments for new traders such as a daily Forex news video. The video provides core data without making traders waste time on an extra check.

Pros:

• 24/7 customer support via an online chat and email;
• Phone support is provided in 4 countries;
• Representatives were kind and knowledgeable.
• Solid education support with additional information materials.
• Easiness of account registration.

Cons:

• American federal trading regulations restricting this broker from accepting U.S. citizens as online traders.