When looking for the best forex broker on the internet to suit your particular needs, the first consideration will always be whether or not you feel comfortable entrusting the broker with your trading capital.
Furthermore, if a broker you are considering doing business with has a generally poor reputation among its clients or is not overseen by one of the major regulatory agencies, then you would be well advised to consider looking elsewhere for the brokers that the retail forex market has to offer.
Some of the top forex brokers in terms of their trustworthiness and reputation are eToro, Easy Forex and AvaFX. To set up an account with them in order to start trading currencies, you typically just need to visit their website, select an account type, fill out a form and provide suitable documentation.
Once the account has been opened, you will then need to fund it. This can usually be done via bank wire transfer or credit card payment, although even Paypal funds can be used in some cases.
Here is a short description of these leading brokers, to help you get to know them a little bit better:
Many people who are new to trading the foreign exchange market or who are not really serious about becoming full time traders are considering opening up accounts for the very first time. One of the best online brokers for such traders is eToro.
Entry level traders might find the educational materials and the simplistic, yet rather entertaining, graphical trading interface offered by eToro to be helpful as they hone their trading skills and set about developing a consistently profitable trade plan for themselves. Furthermore, those who are less committed to forex trading might enjoy the games offered by the broker.
Of course, they might want to graduate to using a broker that offers a more professional and traditional style of trading platform once their initial training and trade plan development phase has concluded. Nevertheless, more experienced traders still might find some of the market commentary provided by eToro useful, and they can always have a little fun watching eToro’s graphical platform that features games and currency symbols competing against each other.
Another internet forex broker that has developed a good reputation among retail traders for helping those new to forex trading get started on the right foot is Easy Forex. Like eToro, Easy Forex provides its clients with extensive training materials and good customer support aimed primarily at novices.
One of the advantages of Easy Forex over eToro is that Easy Forex introduces novices gently to a more professional style trading platform so that they can more easily adapt to using just about any broker’s forex trading platform as their trading skills advance.
Many traders consider AvaFX to be one of the top online brokers since their trading platform is both simple enough for beginners to use, as well as sufficiently sophisticated for trading experts to appreciate its features.
Another major advantage of AvaFX is that its platform permits a broader based trader to monitor and take positions in a variety of financial instruments, as well as the major currency pairs. For example, AvaFX allows you to trade commodities like oil and gas, precious metals, sugar and cotton, as well as major stock indexes like the DJIA, the S&P500, the FTSE100, the DAX40, the CAC30, the Italian MIB index, and the Nikkei 225.
Best way to learn the trends in currency markets is to follow-up on latest News before taking any trading action.
Here are the latest Forex News as provided by Forexnews.co.
EUR/USD On The Way Down The currency pair has opened with a gap down in the morning, signaling that the bears are in control on the short term. Price has come higher to close the morning gap, but has failed. EUR/USD is trading in the red right now and seems too heavy to be stopped. … Continue reading "Daily Market Report – EUR/USD Rolling Down September 25, 2017"
The post Daily Market Report – EUR/USD Rolling Down September 25, 2017 appeared first on mexgroupblog.
GBP/USD Minor Retreat Favored The currency pair has dropped sharply on Thursday, but now is fighting hard to recover and to stay higher on the daily chart. Is trading in the green and tries to retest some important resistance levels, a rejection will announce another minor decrease. GBP/USD is moving sideways on the short term, … Continue reading "Daily Marker Report – GBP/USD Can We Have A Bears Attack? September 25, 2017"
The post Daily Marker Report – GBP/USD Can We Have A Bears Attack? September 25, 2017 appeared first on mexgroupblog.
Euro Slips After German Election Tests Angela Merkel’s Coalition Building Skills. The Euro has climbed up from $1.1865 neckline support where it slipped in early Asian trading on Monday after Germany’s election. Chancellor Angela Merkel won a fourth term in office on Sunday but will have to build an uneasy coalition to form a government after … Continue reading "Euro, New Zealand Dollar Fall on Election Results, Moody’s Cut the Rating on Brexit 25-9-2017"
The post Euro, New Zealand Dollar Fall on Election Results, Moody’s Cut the Rating on Brexit 25-9-2017 appeared first on mexgroupblog.
After trending lower over the past several sessions, treasuries regained some ground during trading on Friday amid geopolitical concerns. Bond prices moved notably higher early in the session but pulled back off their best levels as the day progress...
The dollar is turning in a mixed performance against its major rivals Friday afternoon, but is little changed overall. Investors have been reluctant to make any major moves going into the weekend, as tensions between the United States and North Korea...
EUR/GBP is trading in the green and tries to stay above dynamic support despite the yesterday’s breakdown. It has managed to erase the yesterday’s losses and is struggling to stay much above the 0.8773 previous low. Technically, it is expected to drop further on the short term because is located under some important dynamic support … Continue reading "Daily Market Report – EUR/GBP Lifted By Euro-zone Data September 22, 2017"
The post Daily Market Report – EUR/GBP Lifted By Euro-zone Data September 22, 2017 appeared first on mexgroupblog.
Euro Soars Higher After Draghi’s Comments. The mood was a bit cheerier in the European markets, with ECB head Draghi declaring that the financial sector no longer poses a threat to the economy. The bullish sentiment around the Eurozone currency is going strong, suggesting it has some more room to rally. Aussie Tumbled Across the Board … Continue reading "U.K. Prime Minister Theresa May’s Speech in Focus 22-9-2017"
The post U.K. Prime Minister Theresa May’s Speech in Focus 22-9-2017 appeared first on mexgroupblog.
USD/JPY Rejected By Confluence Area The currency pair has dropped sharply in the morning and seems poised to start a corrective phase. The Yen has taken the lead again as the Nikkie stock index plunges after the impressive rally. Technically, the currency pair maintains a bullish perspective, despite a minor retreat. USD/JPY moves in range … Continue reading "Daily Market Report – USD/JPY Another Leg Lower? September 22, 2017"
The post Daily Market Report – USD/JPY Another Leg Lower? September 22, 2017 appeared first on mexgroupblog.
EUR/USD Narrowing The EUR/USD has managed to rebound and to climb much higher again. Price continues to move in range on the short term, but I hope that we’ll have a significant move very soon. Technically, it was expected to decrease further on the short term, but seems like will develop a minor chart pattern. … Continue reading "Daily Market Report – USD Uninspired By The US Data September 22, 2017"
The post Daily Market Report – USD Uninspired By The US Data September 22, 2017 appeared first on mexgroupblog.
GBP/USD Retreat Favored The currency pair seems too exhausted to climb much higher at this moment, so it could come down to retest a support level before will reach and retest a support level. It looks undecided right now also because the USDX has decreased a little again. The greenback needs a bullish spark from … Continue reading "Daily Market Report – GBP/USD Downside Prevails September 21, 2017"
The post Daily Market Report – GBP/USD Downside Prevails September 21, 2017 appeared first on mexgroupblog.