TOP FOREX BROKERS
Over the past decade, forex trading industry has witnessed significant increase of forex brokers offering highly competitive forex trading Bonuses, incentives, promotions and flexible trading terms to attract the attention of global forex traders. Recognizing the best among hundreds is daunting task, we apply our understanding and market experience coupled with feedback from forex traders reviews to enlist the Top Forex Brokers. We constantly focus on improving our services to help forex traders save time, reduce cost and risk on your forex trading account.
FOREX BROKERS COMPARISON
|Broker||Jurisdiction||Min. Deposit||Min. Trade||Leverage Options||Trading Platform||Devices & Apps||API Enable||EA Trading||Bonus Offers||Funding Options||Select Broker|
|Melbourne, VIC, Australia (ASIC)||100 $||Micro 0.01 lot||1:200||MT4||Sign up $50 , 30% Trade Bonus||Credit Card , Skrill , Netteler, Bank wire||Open Account Try Demo|
|Australia(ASIC), Cyprus (CySec)||100 $||Micro 0.01 lot||1:200||MT4||Sign up $50 , 30% Trade Bonus||Bankwire, Credit Card, Debit Card, Moneybookers, Netteller, Webmoney, Local Bank Transfer, Skrill||Open Account Try Demo|
|Limassol, Cyprus (CySEC)||100 $||Micro 0.01 lot||1:200||MT4||Sign up $50 , 30% Trade Bonus||Direct Debit / Credit Cards , Skrill , Netteler, Fasapay,WebMoney, K-net, Bank wire||Open Account Try Demo|
|London, UK (FCA)||500 $||Mini Lot 0.1||1:200||MT4||100% Bonus Maximizer ,20% Bonus Advantage||Credit Card/Debt Card, China Union Pay CNY, Neteller, Skrill,dotpay, Bank wire||Open Account Try Demo|
|Belize (IFSC)||100 $||Micro 0.01 lot||1:200||MT4||Sign up $50 , 30% Trade Bonus||Credit Card , Skrill , Netteler, Bank wire||Open Account Try Demo|
|Cyprus (CySEC), Belize (IFSC)||100 $||Micro 0.01 lot||1:200||MT4||No Bonus Offer||Credit Card, China Union Pay CNY, Neteller, Skrill, Western Union, Payza, OKPay, BANKWIRE, FasaPay||Open Account Try Demo|
FOREX TRADING SIMPLY EXPLAINED
So what is FOREX? This is the acronym used for Foreign Exchange Market. This is the largest financial market in the world with an estimated $1.5- $4 trillion in currencies traded daily. Foreign exchange (FOREX) market is the mechanism by which currencies are valued relative to one another and exchanged. An individual or institution buys one currency and sells another in a simultaneous transaction. The exchange rate is determined through the interaction of market forces dealing with supply and demand. Traders generate profits, or lose, by speculating whether a currency will rise or fall in value compared to another currency. The value is a reflection on the condition of that country’s economy with respect to other major economies. However, the market does not rely on any one particular economy. A trader can earn money regardless of whether an economy is flourishing or falling.
Forex has been dominated by inter-world investment and commercial banks, money portfolio managers, money brokers, large corporations. With the advances of internet technology and leverage options, more and more individual traders are getting involved for the purpose of speculation. As other reasons such as facilitating commercial transactions exist for the participation in the Forex market, there exist a huge opportunity and profits for start of new firms with the proper knowledge and background.
IMPORTANT FOREX TRADING TERMS
For a better understanding of the Forex market a brief explanation on the most commonly used terms in this market will be given.
Base/Quote Currency: This is the first currency written in a pair. For example, if the currency pair is EUR/USD, the Euro would be the base currency and the US dollar would be the quote currency. You would
Pip: A pip or basis point is the smallest measure of change in a currency. For example, in the US based pairs it represents one hundredth (1/100) of a cent.
Spread: The spread is the difference between the bid and ask. When you bid, you are buying and when you ask you are selling. The bid price is always greater than the ask price.
Hedging: Ability to hold both long and short positions at the same time
Lot: Standardized unit of transaction. Usually, this is equal to 100,000 units of the base currency. There is also a mini-lot = 10,000 units and a micro-lot = 1,000 units. Some brokers offer micro lot = 1,000 units,
Rollover/Swap: If you keep a position open for more than one trading day, you would have to pay/receive interest, depending on the currency pair you are trading. The rollover price represents the interest rate difference for the two currencies involved.
Leverage: The used of various financial instruments or borrowed capital, such as margin, to increase the potential return of an investment.
Long: The buying of a security such currency with the expectation that the asset will rise in value
Short: The sale of a security such currency with the expectation that the asset will fall in value
Margin Call: A broker’s demand on an investor using margin to deposit additional money so that margin account is brought up to the minimum maintenance margin. Margin calls occur when your account value depresses to a value calculated by the broker’s particular formula
Liquidation level: A pre-agreed minimum level of funds at which your market exposure will be automatically without further notice liquidated by the brokers