Forex brokers – the classic type of the brokers who act as an intermediary in the international market of currencies between clients, exchanges and liquidity providers.
Forex is a world currency exchange market, where trade is conducted almost around the clock at exchanges throughout the world, which are combined into 4 sessions: Pacific, Asian, European and American.
|№||Broker||Reviews||Minimum deposit||Minimum rate||Leverage||Mobile application||Regulator||Link|
|1||Broker Grand Capital
Founded in 2006
|10 USD||1 USD||444%||Вануату||View more
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Founded in 1994
|30000 rubles||0,01 lot (for currencies)||1:40||Bank of Russia||View more
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|3||Broker Forex Club
Founded in 1997
|10 USD||10 USD - 0,01 lot||1:100, 1:200||ЦРФИН||View more
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Founded in 1996
|10 USD /10 euro /500 rub||0,01 лота||1:200||IFSC||View more
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Founded in 2007
|Absent||0.01 lot||1:500||КРОУФР||View more
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Financial portal Investlb.com collected on its pages of the best deals from Forex brokers with a reputation. Before you make a choice in favor of one or another broker, we recommend you to pay attention to the following nuances:
- Which license of which regulator does the broker has, and if it is actual or not;
- who is the liquidity provider of the broker;
- what are the reviews about the broker on the Internet. What is the functionality of the offering broker, which can prevent slippage and to accelerate the triggering of orders;
- what platforms the broker offers. Is it possible to configure the advisors, and how a wide is the range of technical analysis tools;
- trading conditions: minimum deposit, minimum lot size etc.
Often Forex brokers offer several types of services to its clients:
- direct services of a broker on various sites. The trader places requests and orders via the trading platform with respect to a particular asset, the broker takes these applications, by charging a Commission;
- binary options trading. This service is not primary among Forex brokers. More precisely, the trading platforms that are proposed are universal for currency trading as well as options trading and will be more suitable for professional traders. For the novice investors we would recommend to check this section;
- PAMM-accounts. This is an analogue of trust management. The trader concludes with a Forex broker a contract offer under which the broker himself is investing the investor’s money in a particular tool, and receive Commission and a fixed percentage of the profits.
Peculiarities of trading on Forex for beginners
Forex is not a market where you can invest, just being based on intuition and basic knowledge of economy. It is not enough just to know the factors influencing the movement of the price trend! Agree, if traders could with 100% certainty predict in what direction will the movement of the trend be, they would always conclude only profitable trades.
For the successful start the trader should:
- to understand the principles of technical and fundamental analysis. It is not enough just to follow the economic calendar – you need to understand which of the two simultaneously emerging, heteropolar news can have a stronger impact on the market. Technical analysis is also capable of supporting point to enter the market and exit based on the collected experience of the behavior of the trend in the previous periods;
- to practice on a demo account. To try out different strategies to understand the tools of the trading platform, to choose the optimal strategy for yourself;
- learn more about the rules of the psychology of trading. Forex is a part of the game, which will benefit those who are psychologically more stable than other;
- be ready to the fact that the first month will be unprofitable. Only through experience and perseverance, you can achieve considerable success in Forex.
Forex is a profession, acquire skills over the years. The main thing is to have patience, time and diligence. We recommend you to pay attention to the section “Interviews with traders (“Traders”), where already successful investors share their thoughts and experiences.
Tip: in recent years, many brokers lure the inexperienced investor with such trading platforms function as “Social trading”. At first glance, it seems simple and profitable way to copy the tactics of a successful trader – just open a position and place orders with him. However, this feature is very deceptive. After all, to open a trade, you need time, even a few seconds.
An experienced trader always provides the point of exit from the market, according to the strategy of the risk management. However, it is a difficult question whether the trader will manage to repeat the actions by copying tactics. In addition, you should consider the difference in the functionality of platforms and triggering orders. In practice, social trading could be the right way to loss of Deposit due to the nature of the Forex broker.
Investlb.com – all you want to know about the exchange trading!