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Forex Brokers

Forex trading is a global phenomenon, attracting millions of traders and investors worldwide. A Forex broker serves as a crucial intermediary between you and the vast foreign exchange market. But what is a Forex broker, and how can you select the best one for your trading needs? This comprehensive guide will provide you with a detailed understanding of Forex brokers and present a list of criteria that will help you make an informed decision.

What is a Forex Broker?

A Forex broker is a licensed company or individual that connects traders to the foreign exchange market, enabling them to buy and sell currencies. These brokers provide access to trading platforms, tools, and resources to facilitate smooth and efficient trading experiences. They earn their income through spreads or commissions on trades executed by their clients.

Criteria to Choose the Best Forex Broker:

  1. Regulation and Licensing: Ensure that the broker is regulated and licensed by reputable financial authorities, such as the FCA, ASIC, or CySEC. This ensures credibility, security, and adherence to industry standards.
  2. Trading Platform and Tools: Evaluate the broker's trading platform for ease of use, reliability, and compatibility with your devices. Also, check for advanced trading tools, charts, and indicators that can improve your trading experience.
  3. Spreads and Commissions: Compare brokers' spreads (the difference between the buying and selling price) and commissions to identify the most cost-effective option.
  4. Account Types and Minimum Deposit: Choose a broker that offers multiple account types catering to different levels of experience and trading styles. Also, consider the minimum deposit requirement to ensure it suits your budget.
  5. Customer Support: Opt for a broker with responsive and knowledgeable customer support, available through multiple channels like live chat, email, and phone.
  6. Leverage and Margin Requirements: Examine the leverage offered by the broker, which allows you to trade with more money than you have in your account. However, be cautious, as high leverage can also lead to significant losses. Check the broker's margin requirements as well.
  7. Deposit and Withdrawal Options: Assess the broker's available deposit and withdrawal methods, ensuring they are convenient, secure, and low-cost.
  8. Educational Resources: Prioritize brokers that provide educational materials, such as articles, webinars, and video tutorials, to help you develop your trading knowledge and skills.
  9. Research and Analysis: Select a broker that offers research materials, market analysis, and real-time news updates to keep you informed about market movements and trends.
  10. Demo Account: A demo account is essential for testing the broker's platform, tools, and services before committing real money. Choose a broker that provides a free and user-friendly demo account.

In conclusion, understanding the role of a Forex broker and using the above criteria as a guideline will help you make an informed decision in choosing the best broker for your trading journey. Remember that partnering with the right Forex broker can significantly impact your trading success, so take your time and select wisely.

Broker Rebate Rate Details General Information
Olymp Trade
Rebates: $9.7 per lot Regulation: FinaCom
Min deposit: $10
Min trade size: 0.01 lot
Spread: from 0.0 pips
Foundation: 2014

Olymp Trade is an established online broker trailblazing the industry since 2014. The main goal of the company is to make trading simple, affordable and more profitable for its traders. Olymp Trade offers access to different markets: Metals, Stocks,…

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NAGA
Rebates: 35% of spread Regulation: CySEC
Min deposit: no minimum
Min trade size: 0.01 lot
Spread: from 0.5 pip
Foundation: 2013

At NAGA they remain committed to the fundamental principles of regulation and they are consistent with transparency at all levels of the business operations. They strongly invest in technology and their business model is based on all of their clients…

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FP Markets
Rebates: $3.5 per lot Regulation: CySEC
Min deposit: $100
Min trade size: 0.01 lot
Spread: from 0.0 pip
Foundation: 2005

FP Markets is a trusted global CFD and Forex broker. The vision was to create the ultimate forex trading destination where traders could access a full suite of trading products in the global markets. The convenience of being able to trade CFDs across…

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CDO Markets
Rebates: 0.28 pip per lot Regulation: VFSC
Min deposit: $100
Min trade size: 0.01 lot
Spread: from 0.8 pip
Foundation: 2018

CDO Markets was launched with a vision to provide outstanding liquidity conditions and platforms in the international financial markets. The company aims to to bring a new kind of trading environment for traders. Their mission is to commit stable liquidity…

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InstaForex
Rebates: $15 per lot Regulation:
Min deposit: 1 USD
Min trade size: 0.01 lot
Spread: from 0.1 pip
Foundation: 2007

InstaForex is an ECN-broker operating on the Forex exchange market since 2007. Over 2 million traders have become the company's customers around the world. More than 1,000 clients open new trading accounts every day. InstaForex clients have access…

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ActivTrades
Rebates: of spread Regulation:
Min deposit: $
Min trade size: 0.01 lot
Spread: from 0.5 pips
Foundation: 2001

Founded in 2001 as a pioneer in online trading ActivTrades has become an award-winning global organisation. Initially specialising in Forex they gradually expanded the range of products and currently their customers can choose from over 1000 CFD or…

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LMFX
Rebates: $4.2 per lot Regulation:
Min deposit:
Min trade size:
Spread:
Foundation: 2015

LMFX is an innovative online foreign exchange broker that offers advanced institutional and retail trading conditions to a global audience. They believe in the importance of building strong, secure foundations and the cornerstone of their mission is…

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MTrading
Rebates: $4.9 per lot Regulation:
Min deposit: $10
Min trade size: 0.01 lot
Spread: from 0.1 pip
Foundation: 2014

MTrading is an online broker that allows trading currency pairs, precious metals, stocks, indices and fossil fuels. MTrading is committed to offering the latest and state-of-the-art trading platforms to ensure that you get the best trading experience…

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NordFX
Rebates: $7 per lot Regulation: CySEC, FSA SV&G
Min deposit: $5
Min trade size: 0.01 lot
Spread: from 0 pip
Foundation: 2008

NordFX is an international Forex broker providing individual and corporate customers with a full set of services for trading Forex.

In all its activities, NordFX keeps abreast of modern technology, regularly expands its range of financial instruments…

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HotForex
Rebates: $5.6 per lot Regulation: CySEC
Min deposit: $10
Min trade size: 0.01 lot
Spread: from 0.1 pip
Foundation: 2009

HotForex is a globally renowned Forex and commodities brokerage firm, headquartered in Cyprus and authorized by the country's Securities and Exchange Commission (CySec). HotForex delivers first-rate trading brokerage services, creating an unparalleled…

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FXOpen AU
Rebates: 15% of commission Regulation: ASIC
Min deposit: $10
Min trade size: 0.01 lot
Spread: from 0.1 pip
Foundation: 2005
FXOpen AU Pty Ltd. is an ASIC regulated Forex broker, whose prime target is to provide clients with first-class trading conditions, perfect liquidity, cutting-edge technologies and quality customer support. To facilitate clients’ way to success FXOpen…
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Orbex
Rebates: $5.6 per lot Regulation: CySEC
Min deposit: $500
Min trade size: 0.01 lot
Spread: from 0.6 pip
Foundation: 2010
Orbex is a fully licensed and regulated Cyprus Investment Firm (CIF), founded in 2010 and headquartered in Limassol, Cyprus. It is supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). As a reliable and authentic…
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FXCC
Rebates: $5.8 per lot Regulation: CySEC
Min deposit: $10
Min trade size: 0.01 lot
Spread: from 0.1 pip
Foundation: 2010
FXCC is a reputable and licensed Forex broker which offers a great variety of trading services and technologies. The ECN/STP business model worked out by FXCC allows clients to enjoy full anonymity, complete transparency, advanced execution, streaming…
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Swissquote
Rebates: $3.5 per lot Regulation:
Min deposit: $2000
Min trade size: 0.01 lot
Spread: from 0.1 pip
Foundation: 2003

MIG BANK, formerly known as MIG INVESTMENTS, was constituted in Neuchatel, Switzerland as an on-line Forex broker. Since its establishment in 2003 MIG BANK focuses on on-line Forex trading and keeps its position as a chief Forex and CFDs broker for…

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NBH Markets
Rebates: $0.4 per lot Regulation:
Min deposit: $50
Min trade size: 0.01 lot
Spread: from 0.0 pip
Foundation: 2013

NBH Markets (NBHM) offers Forex and CFD trading backed by physical gold. NBHM is the only broker with gold-backed stability offered by the National Bullion House.

NBHM is committed to providing high standards to every trader. The global team…

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LiteForex
Rebates: 0.9 pip per lot Regulation: CySEC
Min deposit: $10
Min trade size: 0.01 lot
Spread: from 0.1 pip
Foundation: 2005

LiteForex was founded in 2005 to make the Forex market accessible, safe, easy and profitable for you anywhere in the world.

The company LiteForex Investments Limited registered in the Marshall Islands under the number 63888 and regulated by…

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B.I.C. Markets
Rebates: - Regulation:
Min deposit:
Min trade size:
Spread:
Foundation:

B.I.C. Markets is an award winning Derivative Broker offering clients access to Forex, Metals and commodities via MT 4. The trading services and facilities are open to both retail and institutional clients. The company’s policy is to provide the best…

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ForexChief
Rebates: $0.4 per lot Regulation:
Min deposit: $50
Min trade size:
Spread:
Foundation: 2014

ForexChief Ltd is licensed by the Vanuatu Financial Services Commission as a Dealer in Securities. The basic concept of the project is creation of a unique platform for online trading in currency contracts and precious metals on conditions of Margin…

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Blackwell Global
Rebates: $7 per lot Regulation: CySEC
Min deposit:
Min trade size:
Spread:
Foundation: 2010

Founded in 2010, Blackwell Global was established to offer brokerage solutions for private and institutional clients, along with other investment products. Blackwell Global is a Straight Through Processing (STP) brokerage, providing superior liquidity…

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FirewoodFX
Rebates: $7 per lot Regulation: FSA SV&G
Min deposit: $10
Min trade size: 0.01 lot
Spread: from 1.0 pip
Foundation: 2015

FirewoodFX is a global online Forex Broker. The company was founded by a group of forex trader professionals. The team members have remarkable experience in financial industry. Brought together they have created a fresh know-how to deliver you an outstanding…

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TrioMarkets
Rebates: $2.8 per lot Regulation: CySEC
Min deposit: no minimum
Min trade size: 0.01 lot
Spread: from 0.5 pip
Foundation: 2014

TrioMarkets™ was established by three financial professionals with 15 years of experience in both the British and Swiss financial markets. These are highly skilled and successful entrepreneurs with a successful history in online Forex. They are committed…

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SuperForex
Rebates: $13.6 per lot Regulation:
Min deposit: $1
Min trade size: 0.01 lot
Spread: from 0.5 pip
Foundation: 2013

SuperForex is an international brokerage house licensed by the International Financial Services Commission (IFSC). They provide top quality financial and investment services to individual and corporate clients on more than 100 markets across Europe,…

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FXGiants UK
Rebates: $7.6 per lot Regulation: FCA UK
Min deposit: 500
Min trade size: 0.01 lot
Spread: from 0.1 pip
Foundation: 2015

FXGiants is an FCA regulated, international online trading broker, giving access to retail and institutional investors from more than 150 countries in the world, to over 200 instruments while allowing them to amplify their potential with cutting edge…

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Royal
Rebates: $7 per lot Regulation: CySEC
Min deposit: no minimum
Min trade size: 0.01 lot
Spread: from 0.0 pip
Foundation: 2006

Royal (rfxt.com) is among the world’s fastest-growing global providers to the financial markets. Founded in 2006, our success is attributed to our foundation that is built on the principles of trust, transparency, and ethics along with a solid financial…

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Terminated Brokers:

Broker Rebate Rate Details General Information
Grand Capital
Rebates: per lot Regulation:
Min deposit: $10
Min trade size: 0.01 lot
Spread: from 0.4 pip
Foundation: 2006

Grand Capital has been providing financial, educational and brokerage services since 2006. They actively participate in major financial exhibitions to keep up with latest market trends.

Grand Capital provides individual and corporate clients…

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TryMarkets
Rebates: $3.88 per lot Regulation:
Min deposit:
Min trade size: 0.01
Spread:
Foundation: 2011

At TryMarkets it's counter party choices are exclusive to regulated financial services and brokerages. In providing complete services on a single platform, the aim of TryMarkt is to be the solution to those engaging in the financial markets.

TryMarket's…

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