Best Forex Brokers
It is not always easy to find a good forex broker because there are so many shady brokers located in offshore countries who work like casinos. They operate unregulated and lure new customers with higher leverage and sign-up bonuses.
Once swimming in the Pacific Ocean with the big sharks, in 2019, the binary brokers are more like marmosets hidden deep into the jungles of Brazil and India. It is still possible to find them and it might be fun to play with them, but it is not allowed.
To trade cryptocurrencies, traders can use exchanges such as Bitfinex and Bittrex, but they can also trade crypto CFDs at forex brokers with higher leverage. While trading CFDs, you don't own the coins, but you can profit from higher volatility in the crypto market by guessing the price direction.
Fortrade is a STP forex broker regulated by FCA (UK) and ASIC (AU). The company is based in London, UK and offers Forex and CFD trading on a custom web platform. Retail traders can use leverage up to 1:200 to profit on the markets.
HighLow is an Australia-regulated binary options broker backed by strong regulation from the ASIC. The brokerage runs a transparent business model, including offering client money protection.
If you are bored trading on an old-school MetaTrader 4 platform, you will find the IQ Option web platform quite exciting and powerful. Trades are executed in a second, and you can choose between 400 assets to trade from. The company runs a web platform and mobile app with different trading instruments.
FX Options is a new trading instrument introduced by IQ Option in late 2018. The company launched the product as an alternative to binary options. Traders can buy Higher and Lower options with expiry times.
IQ Option provides binary options trading on its own platform based on WebGL technology. The company started providing financial instruments in 2013 and it is the first binary broker to succeed in implementing indicators on the trading platform. IQ Option was also running its own auto-trading robots for a short period.
The IQ Option platform is easy to navigate. Traders can switch between products in just one click. It offers high payouts on binary options (up to 93%), and forex leverage is up to 500. The crypto trading list is constantly growing, so you can expect more digital currencies to be added to the platform.
Questions & Answers
Yes, registering an account is free. However, if you want to open an account, you have to provide some personal information, such as name and address. You are also required to verify your account data by providing a copy of your ID and proof of address.
Whether your money is safe usually depends on the broker you decide to deal with. As a general rule, the safest brokers are regulated by some of the most reputable financial watchdogs, such as the FCA (UK) and ASIC (AU). It is highly recommended you do your own due diligence before you register with any forex broker.
To make a deposit at a forex broker, you can choose from plenty of options, including e-wallets, crypto wallets and credit cards. Most traders usually choose to use e-wallets, such as Neteller and Skrill, because of the low fees. Some forex brokers also work with PayPal.