Selecting the right Forex broker is essential for successful trading in the Forex market. With never ending options readily available to choose from in the market, finding the most reliable broker still remains a priority and probably the deciding factor for your profits. However, it’s a challenge for both professional and novice traders to select the ideal brokerage firm with suitable trading conditions. In the following article we’ve analyzed a wide range of traders based on certain specific standards to provide you all the information required to get a better idea on how to choose the best forex broker and criteria to distinguish between a good broker from a bad one. Also key details regarding commissions, types of trading instruments available and security standards.
Without further ado, let’s get straight into the review of best forex broker 2021.
How To Choose The Best Forex Broker?
Going through a few step process of sorting out the brokers of your interest can save you lots and lots of time, effort and ultimately money in the long term. So, pay keen attention to even the smallest of details and then select accordingly. Here’s a list of steps you can take before selecting a forex broker for yourself.
- Choose a broker that satisfies your needs based on your goals and investment plans. This may be different for different people based on how experienced they are and to what extent are they willing to take risks.
- Make sure to check the broker is licensed in your country because then only you can trade securely on it.
- Select a broker after going through it’s features and instruments.
Top Forex Brokers 2021
- Exness Review
Exness is an online broker which was founded in 2008, and is regulated by Financial Service Authority(FSA) of Seychelles and Financial Sector Conduct Authority( FSCA) in South Africa. Exness offers its users the ability to trade on over 200 financial CFD instruments including Shares, Forex, Metals, Indices and Cryptocurrencies, from platforms like MetaTrader 4 and MetaTrader 5 and its own WebTrader platform.
You can choose from five different account types under two categories. The first category is the Standard accounts that caters the need of novice traders and provides a commission free trading experience to beginners. On the other hand, the second category is Professional accounts which according to name are best suited for experienced and seasoned trader and follow a commission based approach. Exness is one of the very few brokers which provide unlimited leverage on its MetaTrader 4 platform. Islamic and Demo accounts are also available for use.
When it comes to payment methods, Exness has a variety of free deposit and withdrawals via Cryptocurrencies, Skrill, Perfect Money, WebMoney, Neteller and debit/Credit cards. You also get multilingual customer support via chat, phone and email for 24 hours a day and 7 days a week. In addition to this, the comprehensive help center on their website will assist you with every query regarding the platform.
Exness is widely known for providing its clients attractive trading features like a virtual Private Server or VPS, Trading calculators and dashboards, social trading and other research and educational resources which include top notch content such as Insights, News, Analytics, Exness Academy and Webinars. Hope, this exness review blog have given you the proper idea about investing.
Exness: Pros And Cons
- Offers unlimited leverage.
- Over 200 financial instruments.
- Commission free trading for standard account.
- Demo account available
- MT4/MT5 for windows and MAC available.
- Easy and free deposits and withdrawals.
- Limited availability.
- Not authorized in every region.
- Tickmill Review
Tickmill Group is an emerging CFD and forex broker which was founded in 2014. Tickmill has managed to draw the attention of clients remarkably within few years, at present it has an user base of over 1,11,000 active traders on more than 2,63,000 accounts. It is regulated in three jurisdictions and employs over 150 professionals globally and strives to provide the best trading conditions to its users.
Tickmill offers financial instruments such as currencies, Indices, Metals, Bonds and Energies. Traders can select between three distinct account types- Classic, Pro and VIP, with availability of a demo account and Islamic account. The commissions, leverage and benefits may differ with the type of account you’re going for.
Tickmill is renowned globally as a Forex broker, as evident in its asset selection. This broker offers 9 index CFDs, 3 commodities and 4 bond CFDs. But the unavailability of cryptocurrencies and lack of cross-asset diversification might be disappointing for some traders. When it comes to fee and commission charged, tickmill like most brokers takes fee from spreads which usually starts from 0.2 pips at minimum. Although the maximum leverage available on Tickmill is 1:500, it completely depends on the asset.
For traders focusing on retaill sector are welcomed to enjoy the MetaTrader 4 trading platform known for enabling world class trading environment. However the version that tickmill provides still lack upgrades on which tickmill should work on.
Tickmill focuses on traders who only trade the most popular Forex and CFD instruments. With better options available in the forex market, Tickmill somewhere lacks to cater best to wide range of traders. Hope, you have got the total idea about tickmill review blog.
Tickmill: Pros And Cons
- It’s regulated by Financial Conduct Authority.
- Low forex fee and minimum deposit from just USD25.
- Free deposits and withdrawals and no inactivity fee charged.
- Negative balance protection.
- Offers limited range of financial instruments.
- Unavailability of 24/7 customer support.
- Absence of a banking license and AISC Regulation.