Online Brokers with the Best Reputation

When it comes to Forex trading, whether you're a complete beginner or an experienced trader, it is important to find the best possible Forex broker. Even if you are smart like George Soros, you won't go far without the right kind of Forex broker. What should you start with? In this post, you will see some online brokers with an excellent reputation among traders. Even if you do not choose any of them, you can at least use them as good examples for making your own choice.

Exness

The Exness Group is a reliable online broker regulated by the Cyprus Securities and Exchange Commission (CySEC). By offering the popular suite of trading platforms created by MetaQuotes Software Corporation, they let you create numerous account types and use over 100 forex pairs and metal contracts. With an overall Trust Score of 73 out of 99, Exness has developed an army of fans. This online broker is authorized by the tier-1 regulator of Financial Conduct Authority (FCA), which enables smooth functioning in financial and exchange operations.

The main thing you should know about Exness is that they follow the major business standards. Thus, they rely on the principles of transparency and clearance in regard to trading policies and promotional activities.

XM Group

XM Group has established a customer base of over one million traders and investors. The benefits offered by the trader can hardly be denied. These include segregated accounts for funds, special negative balance protection mechanisms, and availability of such trading platforms as MetaTrader and WebTrader. XM Group knows how to manage all the orders in a timely manner without any risks involved. Even if you check reviews left by other traders, you will make sure that XM Groups can actually be trusted.

According to the broker's development approach, the major focus is set on the concept of loyalty. Compared to most trading platforms, XM Group doesn't want you to experience any stress when it comes to online trading. Instead, you can rely on top-notch services and trading activities with currencies, CFDs on Stocks, Commodities, Equity Indices, Precious Metals, and Energies.

FX Open

FX Open is a Forex and Cryptocurrency Broker created by a team of professional traders. The company has achieved great success on the stock market. Today, FX Open is represented worldwide through their cooperation with other Forex brokers. The broker is regulated by the Financial Conduct Authority (FCA) in the UK and Securities and Investments Commission (ASIC) in Australia. Having more than one million members, this online broker keeps offering ECV liquidity for limited spreads and fast execution across numerous markets. Those services are based on trading accounts, trading platforms, PAMM accounts, analytical strategies, and efficient customer support.

Dukascopy

Dukascopy is one of popular Forex brokers offering advanced trading mechanisms and market research algorithm. Dukascopy has a Swiss banking license issued by the Swiss Financial Market Supervisory Authority (FINMA). Today, this online broker is offering a smart solution for highly experienced traders and investors. This involves access to Forex ECN trading through the Swiss FX Marketplace (SWFX), CFD trading on Stocks, Indices, Commodities and Cryptocurrencies, as well as Binaries.

eToro

eToro is famous for its customer-friendly attitude to the trading process. This reputation has been earned due to such innovative features as CopyPortfolios, CopyTrader, WebTrader, as well as OpenBook. The FX broker features a wide range of educational tools and trading mechanisms so that traders have everything they need to proceed with efficient trading activities. In other words, eToro tries to increase financial literacy among its official users. Similar to many other trading platforms, eToro offers a free demo account for practicing. Easily, you can explore the broker's website and develop your trading skills before starting a real game.

The bottom line

Forex trading can be a great adventure if you choose the right broker to join. The trading market has become full of excellent brokers, although there are some less reliable representatives of the given industry who can cause some troubles for you. After all, you don't want to lose your money in a second. Thus, you should be careful while making the final choice. Reading the testimonials and reviews left by other customers on the independent sites is the best way to check the decency of a potential online broker.

Forex trading is a constantly-changing environment that needs you to be attentive and goal-oriented. So, you should find an online broker that will let you be like that. In the end, you can always consider brokers offered in the list above.