The Best Binary Options Broker 2020!
Perfect For Beginners!
Free Demo Account!
Free Trading Education!
FBS.com – Start with 100$ No Deposit Bonus.
OctaFX – Free 50% bonus
XM – Start with $30 No Deposit Bonus
Forex Brokers Checklist
It’s common sense that your account should be safer with the regulated brokers, it’s also clear that The Financial Conduct Authority, FCA (UK) or National Futures Association, NFA (US) are preferred regulators to, say, Vanuatu Financial Services Commission, FSC or self-regulatory bodies like FMRPC.
Unfortunately, the strictest regulation does not guarantee a positive trading experience, otherwise we wouldn’t send our members periodic notifications on the outrageous regulators findings like this one.
Advice. To stay informed please Join Forex Peace Army and stay subscribed to our Core Members List, also get our 10 World’s Worst Forex Brokers Report
This is the reason why we created Forex Peace Army in 2006. In the past retail forex industry was a barely regulated “wild west” with traders reviews and community discussion as the only source of truthful information about the companies.
We witnessed the very positive changes with regulators in the recent years, but this did not diminish the role of consumer reviews. Our members indicate problems with companies months and even years before regulators step in and dealt with their dirty operations.
What about professional broker reviews some other sites have? Please ask yourself, why would professionals spend time to write these long, well-illustrated, and comprehensive reviews? Additionally, ask yourself, why professional reviews tend to nearly always be overall positive, only occasionally mentioning minor flaws. The obvious answer is that these “professionals” are looking to get compensated for their time.
Traders’ reviews may not look as appealing as professional reviews, but they are unbiased, current (describe what is going on with the company now), and based on actual experiences with the broker. Forex Peace Army is committed to keep its broker reviews as honest as humanly possible; our editors are extremely experienced and have an advanced suite of custom coded tools to enable them to screen out fake, paid, self-promoting reviews as well as fake negative reviews from competitors.
Advice. If you know the name of the forex broker start typing it the “Search by name” box above or browse the list of all brokers. Read the reviews and especially pay attention to the following points:
- ease of withdrawals
- ease of deposit
- cancellation of profitable trades
- ease of account opening and verification
- execution speed and reliability
- stop hunt
- professionalism of support
Additionally, please search our Scam Alerts Folder for recent traders complaints, and pay attention to alerts posted on review pages.
Carefully reading and understanding trading conditions of a particular forex broker is an important part of research that unfortunately often gets overlooked. Let us give you a few examples:
- if you are planning to use a scalping strategy, high spreads may render your strategy unprofitable
- if you are planning to profit on news events, pay attention to special trading condition during major economic announcements
- if your forex robot requires high leverage and low margin requirements, this combination may not be available with this particular broker
Other important factors to research:
- Minimum deposit
- Availability of currency pairs, precious metals, oil, crypto currencies
- Commissions and Fees
- Competitive rollover fees
- Trading restrictions, FIFO, minimum open trade time, news trading restrictions, arbitrage restrictions, etc.
Advice. Always carefully read and understand the forex broker’s trading conditions before opening a trading account. Do not hesitate to ask support if you don’t understand something or have additional questions
The Best Binary Options Broker 2020!
Perfect For Beginners!
Free Demo Account!
Free Trading Education!
Next, practice on a demo account at the broker. Do sufficient testing of your trading strategy, forex expert advisor, forex signal service or whatever else you are planning to use with this particular broker. Remember, profitability on a demo account does not always mean a live account will be profitable. Losses on a demo account may underestimate losses on a live account.
If you are happy with everything so far, open small live forex trading account and test it again (including the withdrawal process). Increase the account size gradually.
Keep an eye on the newer reviews for your broker here on Forex Peace Army. Also, after you’ve tested the forex broker’s live trading system thoroughly, please leave a review to share your experience and help other traders.
4. Trading platforms.
There are a few common trading platforms like Metatrader, cTrader, TradingView Web Platform and also proprietary ones developed and maintained by particular fx brokers like Dukascopy’s Jforex (and others too numerous to name here).
A common trading platform like MT4 or MT5 gives you access to the marketplaces full or free and paid trading signals, expert advisors, and other forms of trading ideas. In-house developed platforms often give you access to broker-specific features (like API access for algorithmic trading or connection with Social Trading applications or Money Managers).
Advice. Common platforms like MT4 are a good start for beginner traders. You can download the software with your PC, Mac, or mobile device. You will be able to try many brokers without additional learning curve of proprietary trading platforms and enjoy extensive array of indicators, and trading strategies available through the marketplace.
Who does not like bonuses, freebies, or promotional offers? We do too, but urge you to read the fine print. Some bonus terms are reasonable while many others are traps designed to keep you from withdrawing your money.
Always read and make a copy of the bonus terms before accepting any bonus from a forex broker.
6. Icing on the cake.
As this niche gets more competitive, to attract traders forex brokers often add free useful (and expensive if purchased separately) tools and services for account holders that may include:
- Educational materials for novice traders.
- Market news and webinars
- Forex expert market commentary
- Economic calendars
- Calculators and trading tools
- Technical analysis tools
- Personalized trading strategy and market advice
- Reuters or AP/Dow Jones financial newswires
- Automated strategy builders
You are certainly encouraged to take advantage of such offers.
Advice. Before paying for expensive trading tools or services check if they are available with a good forex broker for free, at substantial discount, or with some minimum account balance.
Best Forex Brokers to Buy Bitcoin in 2020
The ForexBrokers.com annual forex broker review (four years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.
Among the 30 forex brokers reviewed for the ForexBrokers.com 2020 Annual Review, nearly all offer cryptocurrency trading in one form or another (for a breakdown of how to trade cryptos, read our cryptocurrency guide).
While only a few brokers in our 2020 Review offer the underlying, the majority offer bitcoin as a CFD, and a handful of brokers with exchange-traded offerings offer crypto-related exchange-traded products or futures contracts.
Best Forex Brokers for Crypto Trading
Based on over 105 different variables, here are the best forex brokers to buy cryptocurrency, such as Bitcoin.
- eToro – Best overall for crypto trading
- Swissquote – Trusted global brand, CFDs and underlying
- IG – Flexible trading, Crypto 10 Index
- XTB – Excellent customer service
- FOREX.com – Competitive pricing on crypto CFDs
- Dukascopy – Balanced offering
- CMC Markets – Excellent pricing
Best overall for crypto trading
eToro, best known for its easy to use copy trading platform, offers CFDs as well as physical cryptocurrency trading. In addition to launching its own fully-functional crypto wallet, eToro open-sourced its proprietary code for decentralized exchange (DEX) trading, as part of the Lira project from eToroX Labs. Overall, with nearly 100 digital asset pairs available to trade, eToro is our top pick for 2020. Read full review
Best overall for crypto trading – Visit Site
Swissquote enables crypto enthusiasts to trade the underlying tokens (non-CFDs) of the largest cryptocurrencies, including Bitcoin. Publicly-traded and regulated in some of the largest market centers around the globe, Swissquote even acts as a custodian for its clients by holding equivalent crypto at Bitstamp (79% of retail CFD accounts lose money.) Read full review
Flexible trading, Crypto 10 Index – Visit Site
IG’s crypto offering includes eight CFD crypto pairs alongside favorable contract specifications, weekend trading, and flexible margin requirements. IG also offers what it calls the Crypto 10 Index, a CFD that represents the performance of the ten largest tokens by market cap (think Bitcoin, Ethereum, etc.). The Crypto 10 Index enables passive investors to invest in the future of crypto without having to trade individual token pairs. (68% of retail CFD accounts lose money.) Read full review
Excellent customer service – Visit Site
With 16 digital asset pairs available, competitive pricing, and weekend trading available, XTB has a respectable cryptocurrency offering for CFD traders. XTB also provides excellent customer service. (75% of retail CFD accounts lose money.) Read full review
Competitive pricing on crypto CFDs – Visit Site
With eight top crypto assets on offer, FOREX.com provides competitive pricing in terms of its spreads and overnight financing costs across large-cap crypto assets such as Bitcoin. (69% of retail CFD accounts lose money.) Read full review
Buying Bitcoin, Cryptocurrency Risks
While it can be hard not to be tempted to trade with one of the hundreds of new cryptocurrency exchanges that have popped up across the web, these websites often have been hacked, leading to the theft of customers’ assets. In some other cases they have faced regulatory scrutiny for operating without a license, and/or potential AML/KYC violations.
Even with the expanding number of well-established fx brokers offering cryptocurrency trading, finding the right cryptocurrency broker to buy bitcoin with can be daunting. Liquidity, trading costs, regulation, and product availability are just a sampling of the challenges and risks you might confront when dealing with digital assets.
Indicative prices for illustration purposes. Indicative prices; current market price is shown on the eToro trading platform.
Especially challenging is the method used to keep your cryptocurrency in safe custody, as it is a bearer instrument, and protecting the private key comes with numerous levels of complexity and risk. For such reasons, even the few forex brokers that offer the underlying trading of cryptocurrencies have not yet fully launched a crypto wallet that would permit withdrawing the actual tokens (similar to the Crypto Exchange Circle, where a user must first sell his or her tokens and then withdraw US dollars).
In other words, sometimes the greatest risks are the ones you don’t even realize you are taking. This is why here on ForexBrokers.com we focus on reviewing forex brokers that are regulated and have been in operation, in some cases, for decades. We also include a Trust Score rating for each broker, making it easy to determine how trustworthy a firm is.
That said, not all stand-alone crypto exchanges are bad. For example, while Coinbase was not included in our annual review because it does not offer leveraged retail forex trading, it’s worth noting that the company has become a market leader, with over 10 million customer accounts opened.
Several final thoughts to keep in mind: selecting a forex broker to trade crypto will depend on where you are located, the services available in your region, your trading style, and any specific needs (e.g., margin).
Whether you are trading crypto as a Contract for Difference (CFD), other off-exchange derivative, or trading an on-exchange listed security, futures, or options contract, or even trading the actual underlying physical cryptocurrency, there can be advantages and disadvantages to each method. These differences can be thought of as trade-offs, and whether they are better or worse depends on your needs as an investor or trader. For example, some brokers do not permit weekend trading of their cryptocurrency CFD contracts.
To diversify cryptocurrency exposure, some traders may opt to trade cryptos using multiple methods or maintain portfolios with multiple brokers, holding the underlying passively (as an investment) alongside actively trading crypto CFDs.
Regardless of which approach you take, be sure to proceed with caution. Cryptocurrency trading is risky, and new market providers are emerging each month. Some marketplaces are designed as scams from day one, launching with clever marketing campaigns designed to prey on unsuspecting investors. Meanwhile, other projects may be bona fide, yet succumb to vulnerabilities exploited by hackers, where end-users ultimately pay the price. For these reasons, choosing a well-established provider and diversifying are important.
All in all, cryptocurrency trading is here to stay. Use a trusted broker, and never risk what you aren’t willing to lose. Hopefully, this guide will help steer you in the right direction.
How do I know if a crypto broker is regulated?
The responsibility is on you as an investor to be sure whether your cryptocurrency broker is regulated or not, regardless of the claims they make. Thankfully, it is easy to check if your bitcoin broker is regulated by checking on the national financial markets’ regulator in the country your cryptocurrency broker is located (which is, ideally, also the country you are residing in).
For example, a forex broker in the UK that sells bitcoin must be authorized and regulated by the Financial Conduct Authority (FCA). This status can easily be verified by a UK resident who simply has to visit the Financial Services Register on the FCA website and type in the broker’s name. The results will detail the regulatory status, or lack thereof of the name searched.
Is cryptocurrency risky?
Trading cryptocurrencies such as Bitcoin is extremely risky because of many factors. Also, what makes cryptocurrency risky is the high volatility that occurs in cryptocurrency markets.
Only risk capital that you can afford to lose should be available towards investments in cryptocurrency, and numerous precautions should be understood to avoid loss of assets or fraud. These are the reasons why we suggest only using a regulated cryptocurrency broker.
What forex broker allows you to trade the most cryptocurrencies?
During our latest annual review for 2020, eToro was the forex broker that allows you to trade the most cryptocurrency pairs available.
What is the best forex broker to trade bitcoin?
For active bitcoin trading, including the ability to go long or short, we suggest forex brokers such as IG or FOREX.com, due to their competitive spreads and ability to execute large orders. Conversely, traders that wish to purchase the underlying physical bitcoin can find eToro is a great option, followed by Swissquote Bank.
How can I sell short bitcoin?
To speculate that the price of bitcoin will fall, a trader can open a forex brokerage account with a broker that offers the ability to sell bitcoin as a contract for difference (CFD).
By placing a trade such as a sell to open order, by going short bitcoin, a trader expects to profit from a decline in the price of bitcoin. In contrast, a price increase would cause a loss to a trader that has sold bitcoin and has a short position.
Should I use a bitcoin CFD to HODL?
Bitcoin investors that want to hold their position over the long term may have heard of a term called Holding On to Dear Life (HODL). This type of view may be needed to remain invested in bitcoin due to the volatility that Bitcoin prices exhibit.
Long-term cryptocurrency investors will usually buy the underlying actual physical bitcoin. Contracts for Difference (CFDs) are not ideal for holding long term because of the financing charges typically involved, because of the available leveraged when trading bitcoin CFDs.
Therefore, holding the underlying is best for long-term investing, while bitcoin CFDs can be ideal for short-term traders.
What is the fee to buy bitcoin?
The costs and fees involved to buy bitcoin vary across brokers. Fees for buying bitcoin can become quite high across many websites and un-regulated exchanges, which is why we only suggest using a highly-regulated broker.
While fees may vary to buy bitcoin, the costs will consist of any per-trade commission, along with the difference between the bid/ask price, known as the spread. The best brokers for buying bitcoin will have low commissions and tight spreads, to help trades save on fees when buying bitcoin.
For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.
About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
The names, products, services, branding/logos, and other trademarks or images featured or cited within this Website (www.forexbrokers.com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with ForexBrokers.com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses ForexBrokers.com or any of its reviews, products, or services. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.
IG – 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Advertiser Disclosure: ForexBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.
Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBrokers.com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBrokers.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information.
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What are binary options?
Binary options are a sort of exchange-traded contract used for getting income from the performance of assets (currencies, shares, goods) in the global financial markets. In making a deal, the purchaser of binary options forecasts the asset’s price change. This financial tool has a fixed price, contract expiration time. and paper profit margin known in advance.
Are binary options a fraud? A professional assessment
FraudBroker.com is an investigation center for shady transactions of binary brokers, along with Forex and CFD brokers, stock brokers, cryptocurrency exchanges, etc. Our team of experts – professional traders dealing with various brokers – is ready to provide our website guests with precise information about whether any given financial market broker is a scam artist or not.
Our customers ask: «Are binaries the real thing or a scam?», «Is Forex a scam?», «Is cryptocurrency a real thing or a scam?» – everyone is concerned about professional opinions. That is because in trading in various markets there are many fraudulent brokers whose sole mission is to get trader’s money and do their best to make him lose. They may tamper with price behavior charts, may leave a trader without a payout, may just disappear and go silent or tap into other contrivances just for one purpose: to play you. Our professionals are ready to assist you in finding reliable brokers.
The most reliable binary options brokers for March 2020
|Broker||Bonus||Min Deposit||Payout||Review||Open Account|
|Up to 100% deposit||$10||Up to 90%||Review||Visit Broker|
|$10||Up to 91% *||Review||Visit Broker|
|10 USD||Review||Visit Broker|
|2 types of bonuses||$100||Up to 90%||Review||Visit Broker|
|Up to 100% on deposit||$5||Up to 100%||Review||Visit Broker|
*Amount to be credited to the account for a successful trade.
«General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all of your funds. You should never invest money that you cannot afford to lose».
Our aim is to expose scam schemes and provide traders with reliable information on which they can based safe trading decisions. Please check our completed reviews to know if a broker works according to terms imposed by regulatory institutes. If you are not able to find information on our site, make a request to initiate a review scrutinizing the broker in which you are interested. Just fill out the application form. We will investigate the broker’s activities and send you the results by email. Due to a large number of requests to investigate the activities of brokers’ who show signs of cheating, we will provide you with an answer in the shortest time possible, likely a few weeks. We strongly recommend you send your request us as soon as possible to secure a place in the queue.
Binary options – is this a scam or not?
The idea that binary options mean cheating novice users comes from the fact that sometimes even the best brokers may be marked as not being utterly honest. Our goal is to provide complex reviews that are based on the real trading experience. Only then can we be sure that a particular broker is cheating. Binary options trading is one of the most rapidly growing financial industry sectors. That’s why the scammers are trying to get in on this market. We would like to help you to expose that kind of market participant and avoid possible harm. Our team of experienced binary options traders has worked professionally for over 5 years in the financial markets. We know how to spot the scammers.
Is Forex a scam?
Apart from investigation of the activities of binary brokers, we study companies that give traders a chance to earn income by investing in other financial markets. The currency market forex is for good reason among the best ways to get a decent income from trading currencies. It works 24 hours a day, is available for traders of any wealth, and, due to internet technologies, it’s easy to become a part of it just by going online from a home computer. Of course, apart from various advantages, it has also led to the emergence of a huge number of scam brokers. They seduce traders by promising them high earnings, unreal payout percentages, and lucrative bonuses, but instead disappear immediately after the funds are collected.
The mission of FraudBroker.com is to study the activities of market brokers providing trading services on Forex and to caution traders against problems they may face by catching scam artists. How do you identify a swindler and a cheat among many Forex brokers? Check brokers for possession of a license and work on their demo accounts carefully. Also have a look at the current rating of verified Forex brokers and read the references of traders about them right now on the specific webpage.
Is CFD a cheat and a scam?
CFD (contracts for difference) have been especially popular with traders recently as they allow traders to essentially make money on the difference of prices of various assets: raw materials, metals, currencies, etc. There is no purchase of assets here, no solution offered for the issue with title documents and so on. This aids interaction between trading parties, lets a trader earn both from assets appreciation and loss. Dealing with CFD is lucrative, quick, and easy.
Taking into account the high popularity of this market many brokers immediately started offering access to its capacities, which is not bad in general. However, today there are a lot of suspicious companies, too, with unique bonuses in their arsenal and guaranteed high income from investments in CFD from small traders’ efforts. How do you choose a reliable CFD broker and not lose your money? For our website users, we have prepared an urgent rating of CFD brokers, where they can not only read the detailed brokers reviews, but also study real traders’ feedback about them.
Is cryptocurrency a scam or the real thing?
Cryptocurrency is popular and one of the most volatile assets of our time. It is among the most vital financial markets and lets you obtain income by purchasing and selling digital coins. This growing market resulted in the whole cryptocurrency boom, and we all are unintentional witnesses of its rapid development, have hot discussions on the latest news of digital assets dynamics, become tokens holders etc.
Such attention to cryptocurrency couldn’t help but generate a large number of scam lottery websites and fraud projects in the market, which were created just for one purpose – to take over traders’ cryptocurrencies and disappear. How «not to fall in their hands» and to keep and multiply your digital money are the topics the team at FraudBroker.com works on. You can read a lot of informative articles about cryptocurrency and digital assets trading strategies, along with detailed reviews of cryptocurrency exchanges and brokers allowing trading digital tokens.
Is the stock market a scam and a fraud?
The stock market is one of the oldest financial markets allowing any concerned user to make money investing in shares of the major companies and brands, and it is popular all around the world. For instance, a trader may easily become a holder of shares of Coca-Cola, McDonald’s, Apple, Adidas, Starbucks, Gasprom, Nornikel, etc. Shares have always been among the safest assets, and the chance to become a holder of assets of famous brands is appealing to solid investors. With the emergence of the huge market of internet technologies, the chance to get a decent profit from stock trading only increased, and ordinary people became concerned about them, too.
Obviously, there are not only fair stock brokers in this oldest market, but also websites promising naïve traders heaps of money when in reality they are fraudulent scams. How do you choose a reliable stock broker? On the project website FraudBroker.com you can not only study the up-to-date ratings of stock brokers but also read a huge number of reference materials about trading in the stock market.
John Reichard, 38, New York City, USA
Hello! I’m John Reichard. I will be glad to help you. Not many people could boast that their profession and hobby are the same thing. For more than 5 years, I have analyzed binary options brokers. I devote my time to trading and market research, and I’m ready to share my experience. My goal is to guard myself and other traders against thieves. I have opened accounts with different brokers to check their trading platforms and payout obligations, so everyone knows what firms are honest and which are just running their scam schemes and robbing the clients.
Floyd Lewis, 33, Toronto, Canada
For over 8 years I’ve specialized in binary options, robots, and signals. I have been a computer engineer and programmer. After my second daughter’s birth, I started working from home. I personally check the binary options robots and signals, different trading strategies and tactics. My aim is to verify whether programs are working properly or not, in order to determine winning strategies in these systems.
Kevin Murray, 29, London, England
I have a master’s degree in finance management and specialize in Forex trading and binary options. I’ve been the senior consultant with a project called FraudBroker.com since 2020 and have devoted most of my time to lead traders in the right direction. The latest articles on this site are mine. Now I’m a daytime trader with over 5 years’ experience in the binary options industry. People regularly contact me to ask my professional opinion on various things, including binary options scammers.
Recognize how to avoid scamming
Cheating is possible. First of all, you must ensure that your broker has a certificate issued by one of the regulatory institutes. Verify if there are any positive or negative remarks on the Internet. Pay attention to the conditions of the services that brokers provide, including trading conditions and bonus-receiving conditions.
You can ask your questions online using an online chat application or request a telephone call and ask your questions this way. Furthermore, you can request the broker’s verification and wait until we determine if there are signs of cheating and deceiving.
How to choose a decent binary options trade broker?
The choice of the right binary options trader is the first step to a successful trading career. Actually, it is really hard to choose an honest broker out of the more than 350 working firms on the market. That is why we at FraudBroker.com decided to intervene and help visitors on our site. We have ample knowledge about how to choose a binary options broker. Our site is a good place to do the first steps in binary options trading. If you are not utterly sure that your broker is reliable, we would advise you to choose a broker number 1 from the list above and start trading safely by having a broker whom the FraudBroker.com team members trust.
Dear guests, please give us your opinion about binary options and answer a few sociological poll questions:
Please keep yourself informed about news and complaints. We copy the most valuable information to social networks, so please sign up!
Trusted Forex Broker Reviews
Not even legends in the calibre of a Larry Williams or a Martin Schwartz will have much luck in currency trading if the broker is unwilling to cooperate – it has an overwhelming role in determining what type of experience you will have as a forex trader. The lack of clear rules and precedents creates great opportunities, but also huge risks for the unprepared.
But aren’t there always two sides to a story? To help our visitors avoid the dark side of forex, we have carefully screened the best offers in the online brokerage business, and prepared a selection of some of the most reputable and efficient brokers for your exclusive benefit. If you have any plans to explore the exciting world of currency trading, we are sure that you will find our list an invaluable guide in the crowded and sometimes shady world of the forex brokers. We recommend reading our listed brokers’ review pages for user reviews, e.g. OctaFX or FXTM review page.
Safest Forex Brokers 2020
*Broker offers variable spreads which are subject to fluctuating market conditions. Spreads tend to be tight during times of deep liquidity but can also widen significantly during times of low liquidity.
Want to be featured on this broker list? Use our contact form here.
More country specific forex broker listings:
Finding the Best Forex Broker – FAQ
Finding the best forex broker for your needs takes some research. Hundreds of online brokerage firms now compete for your account, so plenty exist to choose from. Check out our recommended top list above, or read our FAQ below with excellent points to consider before choosing your broker, or see this extensive five step guide on how to choose a forex broker.
Finding the best forex broker that has a fast execution capability, a reliable trading platform and which can be trusted with your account deposit might be the first things you will want to assure yourself of. Other sweeteners can include account opening bonuses and other features like mobile trading and SMS market alerts.
Basically, you want a forex broker you can trust to handle your money and your trades so that you can get on with the business of trading forex without worries. Anyway, to make the process of finding a broker simpler, the list above covers most of the key comparison points between forex brokers so that you can be better prepared for a successful search.
In the end of this page you will find many more brokers that did not make the top list, you can still read our reviews of them and give your comments on them or share your experience from them.
But first we will go through some of the criteria and features you should look for when searching for the best forex broker for you.
Most reputable online forex brokers take the step of submitting to regulation by one of the main financial regulatory agencies operating in their home country. Sometimes, they will even be regulated by more than one agency. Such regulation provides you with the security of knowing the broker’s operations are being overseen by an independent authority with the goal of keeping the business honest.
Is there a benefit to where a broker is located?
Location can make a big difference, especially if the regulatory regime in the country is top of the line. The most advantageous location has to be reserved for UK brokers, since London is the center of the foreign exchange business.
Forex Trading in the UK
Early in the last century, nearly 50% of the world’s foreign exchange was conducted using the Pound Sterling. Today, daily forex trading turnover in the London market represents 41% of the world, more than double that of the United States at 19%. If you choose a reputable UK broker, then you can be assured that the firm can draw upon a broad pool of experienced and professional staff in the UK.
From a regulatory perspective, UK forex brokers must also comply with one of the strictest regulatory bodies around, the Financial Conduct Authority (FCA). Once again, the pool of UK staff will be very aware of best business practices and related compliance issues, another reason to choose a UK broker, if at all possible. One must, however, be due diligent when choosing a broker that claims to have offices in London, since the marketing aspect of this location has caused many overseas brokers to set up a “shell” presence in the UK to gain your trust, but without the benefits listed above. If you prefer a UK broker, then make sure that they are headquartered in London and have a significant presence there.
Forex Trading in Australia
The Australian Forex/CFD/Cryptocurrency landscape is an intricate one, where at least three different types of brokerages peddle their services. There are unlicensed, unregulated brokerages with a global reach, whose services may indeed be accessible to Australian traders too. Then, there are financial service providers who are not based in Australia, but who are licensed by ASIC to peddle their products there. Finally, there are Australian born-and-bred operations, firmly under the authority of ASIC.
If you are looking for a forex broker in Australia or that offers services for Australians then make sure to go here.
When you either enter or store vital personal information online, it can be subject to falling into unfriendly hands that may use it for their own personal gain. Accordingly, a top priority when choosing a broker is that they encrypt all data entered into online forms using industry standard SSL-encryption or better.
Another key issue involves the safe storage of data so that it will not be lost in case of disaster. Many online forex brokers use duplicate data farms with high security to assure the safety of your account information.
Many day trading strategies become unsuccessful over the long term if your account does not have access to competitive dealing spreads. The spread is simply the difference between the bid price and the offer price for a particular currency pair and should be no greater than five pips in the majors and major crosses, with wider spreads often seen in the minor crosses and exotic currencies.
Commissions and Fees
Sometimes brokers are not content just to have you dealing on their spreads. In this case, they might charge a commission or fee for each transaction. Sometimes these are calculated on a per transaction basis or on a volume dealt basis. Additional fees might be involves in making withdrawals or deposits, so be sure to check that information to minimize your transaction costs.
Most forex brokers handle the basic market, stop and limit order types. Nevertheless, some brokers also offer support for OCO (one-cancels-the-other) and trailing stops. If either of these more specialized order types would be suitable for your trading plan, then be sure that your chosen broker supports them and make sure that you fully understand the limitiation of these different order types.
Since more currency pairs often means more opportunities to profit, you will want to make sure that your forex brokers offers all of the pairs you might be interested in trading. Some traders also like to have access to precious metals like Gold and Silver, in addition to oil, especially if they will be trading the commodity currencies like AUD and CAD whose exchange rates can depend on commodity price fluctuations.
Unless you are just interested in opening up a demo or practice account with the forex broker, they will usually require a minimum deposit to be made for you to get started trading forex. Often, the more money you place on deposit, the more features you have access to or the tighter your dealing spreads become. Make sure that you research the broker thoroughly before sending a deposit.
Account types vary considerably between brokers, but most offer demo accounts for practice trading, mini accounts for newer traders with a low minimum initial deposit, standard accounts for more experienced traders with a moderate deposit, and finally VIP accounts for larger initial deposits. Here is a list of forex brokers that offers demo accounts.
Also, the features offered with each account type vary quite a bit among the various forex brokers, so be sure to see which reputable broker will offer you the best deal for the initial deposit you have available to you.
Leverage refers to how much of a position you can control with a certain amount of funds allocated to it. Forex brokers currently offer leverage rates of as high as 500 to 1. What this means is that you can control a $50,000 trading position with just $100 allocated from your portfolio. Note that in the U.S. the maximum leverage is 50:1 for majors and 20:1 for minors.
Naturally, amplifying your risk by using leverage can result in larger gains, as well as larger losses, so be sure to use leverage wisely and avoid trading beyond your means.
Even though forex transactions are exchanges and not purchases of an asset like a stock or commodity, when the exchange rate moves, it creates credit risk for the counterparty showing a gain on the transaction. As a result, most forex brokers require that their clients place a certain amount of funds on deposit to cover such potential losses. This is known as the broker’s margin requirement.
Since margin requirements vary among brokers, you will want to make sure that the broker you choose has guidelines you can live with. Also, some brokers automatically close out trading positions when the amount of margin in your account is exceeded by trading losses, or according to other criteria, so be sure to understand such the implications of such policies for your trading business.
Most of the better forex brokers offer their own proprietary trading platforms for you to use to execute forex transactions with and to keep track of the market. These usually either take the form of web-based platforms that use access via your Internet browser or client-side platforms that you download to, install and run on your personal computer.
In addition, some brokers support independent trading platforms like the popular MetaTrader 4 platform that can be obtained free of charge and which many commercial forex trading robots are designed for.
Some forex traders require the convenience of trading and keeping in touch with the forex market via their mobile phone or other mobile device. Many brokers provide such services, so if this is important to you, check out what each broker offers in this regard and whether their software will work with your device.
Forex traders increasingly wish to automate their trading plans or algorithms to free up their time for other endeavors. They often do this by using a programming language to write down their decision process in an algorithmic format that can then automatically be executed by forex trading platforms that support this capability.
If you think you might want to automate your trading plan, check to see with brokers you are considering to see if they support this type of trading and how they do so.
ECN Brokers are brokers who use an Electronic Communications Network to provide price quotations and trading opportunities to their clients. The best way to picture an ECN is as an Exchange. Through an ECN, the broker puts various market participants into touch, directly. What that means is that it matches up trades so a seller will always find a buyer and vice-versa.
CFDs – Contracts for Differences
These days, CFDs are all the rage as far as online trading is concerned. These Contracts for Differences offer traders (and brokers) several advantages, which make the setup a very attractive one indeed.
A CFD is in essence a futures contract arrangement, between a broker (the CFD provider) and a trader (the client), the object of which is the difference between the current value of a traded asset (which can be just about anything, given the impressive market coverage of this financial derivative) and its value at the end of the contract. Find more information about CFD brokers here.
Many brokers offers SMS or other types of market alerts to their customers. If you think this might be important to your trading business, look for this feature.
Those new to forex trading will want to have better access to both dealing support and technical support. See what services each broker under consideration provides and whether it will suffice for your purposes.
Newer traders often require educational materials about the forex market and trading in general to get started trading forex on the right foot. If this is important to you, research what the brokers you are considering have to offer in this regard.
Also, many brokers provide sophisticated news feeds, like Reuters for example, as well as proprietary market commentary and other timely information.
Dealing Desk Access
Some traders like to speak to a personal dealer or advisor at the broker in order to obtain inside market information and advice. Others like to be able to make transactions over the telephone in a pinch. If either of these options makes sense for you, inquire with your potential brokers whether dealing desk access will be available to someone with your anticipated initial deposit.
Managed Forex Accounts
There are three types of managed forex accounts, Individual, Pooled and PAMM accounts. Here is a list of recommended managed forex accounts that offers this kind of forex accounts.
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