If you are new to Forex Trading, you might be overwhelmed by the number of Forex and CFD brokers available online. Many of them are scams and you should keep that in mind when search for the Best Forex Brokers. Before you get into your trading strategy, make sure you are registered with a reliable company.
For a long time brokers were willing to offer a demo account only to those customers who opened a real account and deposited money first. This was a little bit inconvenient because you could not just go and try trading within a few minutes like on Forex for example.
But times have changed and now you can instantly get a free demo, no deposit is required whatsoever. The demo is unlimited in money and time, so you can try trading for as long as you want.
Below you will find list of reliable brokers that offer free demo – no deposit (cryptocurrency, CFDs and Options)
- 1 Trusted Forex Brokers
- 2 IQOption – Number one for beginners, Unique trading platform
- 3 Etoro – Best Forex Broker For Crypto trading, Copy Expert traders
- 4 XM Forex – Most Versatile Forex Broker, up to 300 trade able assets
- 5 BDSwiss – Best Forex Broker Europe, easy web based platform, trading Alerts, education and academy
- 6 ForexTime FXTM – Best For ECN, $/€/£/NGN
- 7 Best Forex Brokers To SignUp Now
- 8 Trusted Forex Brokers
Trusted Forex Brokers
|Brokers||Minimum Deposit||Regulations||Free Demo||Link|
|$5||CySEC, ASIC, FCA, IFSC||Yes|
|$100||CySEC, US NFA, FSC||Yes|
IQOption – Number one for beginners, Unique trading platform
IQOption is an online trading platform that enables customers to trade a variety of financial instruments and assets such as Forex, Binary Options, Stocks, and Cryptocurrencies.
Founded in 2013 and operated by IQ Option Ltd, the site has quickly became one of fastest growing online trading platforms and claims to have over 20 million account holders from around the world.
IQOption is also based in Cyprus and regulated in the EU by the Cyprus Securities and Exchange Commission (CySEC), the company is fully compliant with the legislation put forward by the commission and fully authorized to sell their products to clients in a number of jurisdictions.
In terms of trading platform, we can say that IQ Options opted to design their own bespoke trading facility which is unique to the brand.
This platform was re-designed and improved to version 4.0 in 2016. Because of this, most options traders who are used to regular trading platforms will find it advanced yet intuitive and reach with features that can never be found on standard broker platforms.
The platform can either be downloaded or used on the internet without the need to install it on your device. A wide range of charts are also offered. These include line, candlestick, Area and Bar charts respectively.
In terms of reputation, this broker has its brand completely covered with no stain or history of mistreating or misguiding their traders. Most industry blogs have admitted that IQ Options is way ahead of the industry, and are generally more than decent when it comes to handling their customers’ needs.
If you sign up now, you will enjoy the following features:
- Safe trading since they are regulated
- All-in-one trading facility where you can trade Forex, Binary and Cryptocurrency assets
- Minimum deposit of $10 with highest payout of 90% per trade.
- Smooth, intuitive trading platform backed by cutting-edge technology which is constantly being improved
- Direct access to Crypto-currency markets
Etoro – Best Forex Broker For Crypto trading, Copy Expert traders
Etoro is the world leading social trading platform. When we did a review on this broker, we were quite pleased to find out that they were offering crypto-currency trading to US traders. In this case, traders can follow and automatically copy the trades of top experts investing in crypto currency.
Etoro is among the few forex brokers on the internet offering trading opportunities to those who would like to take advantage of the volatility of Bitcoin and other crypto-currencies.
However, this Forex broker is also providing other regular Forex products and services.
Minimum investment of $200 traders can afford their CopyTrader technology that allows you to automatically copy expert traders on their platform.
American investors are currently only able to invest on 10 Crypto Currency coins. Eventually they will add more products for Americans to trade.
Also, being that Etoro is is well-regulated by multi governing bodies, it’s safe to conclude that this is one of the safest brokers to trade with on the internet, which is why they easily made it into our list of top rated Forex brokers on the web.
XM Forex – Most Versatile Forex Broker, up to 300 trade able assets
XM broker takes pride in offering over 300 investment instruments which range from currency pairs, to commodity, indices, metal and so on.
XM is also one of the most generous top rated Forex brokers in terms of bonuses since clients can access up to $5000 in pure bonus money.
The broker has been offering a unique leverage of 888:1 which can be adjusted accordingly to suit your needs.
XM Forex broker has 3 different types of accounts which traders can choose depending on their needs.
These include Micro, Standard and XM Zero accounts. Of course these accounts have various features which may inform your decision when choosing one account as opposed to the other.
Website : https://www.xm.com/mt4
BDSwiss – Best Forex Broker Europe, easy web based platform, trading Alerts, education and academy
BDSwiss is one of the best and widely used Forex broker the market has to offer. Without a doubt, this is one of the most transparent and professional brokers the market has to offer. With years of experience, this brokerage firm has been in existence since 2012. Thanks to their level of professionalism, they have been rated the best Forex broker in 2019.
This broker offers free $10,000 demo and trading signals making it an attractive option for all. Members also enjoy leverage of up to 1:400 not forgetting instant withdrawals. It offers over 250 underlying assets for CFD trading including Shares, Forex, Metals, Commodities, crypto and Indices. The web based trader is nice and easy to navigate. There are three different accounts to choose from making it an all-inclusive Forex broker; the Basic, RAW Spread and Black Account. The difference between the trading account types, are the average spreads. The minimum deposit for a Basic trading account is €100, which is one of the lowest for a European licensed broker, see here.
BDSwiss was launched in the Zurich area in the year 2012. The business currently has more than €20bn in forex trades each month. And yes, it comes highly regulated. BDSwiss is licensed and regulated in the European Union by CySEC under the name BDSwiss Holding Plc. Their license number from the Cyprus Securities and Exchange Commission is 199/13.
It has two different trading platforms which are considered to be the best in the industry. With BDSwiss, you will get MT4 and MT5 trading platforms which support hedging. This means that users get fast executions when trading and can use any device, desktop or mobile platform versions for Windows, iOS and Android. Various payment methods are also available for customers to choose from. Visa, WebMoney, Neteller, are among the payments methods to choose from. Simply put, it has the best service and is ranked 5 stars by most clients.
They are a popular CFD broker in Italy, United Kingdom, Germany and South Africa. As a global international broker, their site is localized in the following languages; Chinese, Turkish, Indonesian, Malay, Czech, Romanian, Korean, French, Norwegian, Polish, and Danish.
BDSwiss Forex Broker Academy hosts an impressive collection of educational video courses series, covering unique trading concepts and organised in three separate levels including beginner, intermediate and advanced.
Official Broker Website: https://www.bdswiss.com
ForexTime FXTM – Best For ECN, $/€/£/NGN
FXTM handles a very huge trading volume on a monthly basis — which is one of the qualities of top rated Forex brokers. They are also well-regulated and keen on listening to their customers’ needs.
Their ECN account type only requires a minimum deposit of $500 which is very affordable so to speak.
Please note that for clients who reside in Nigeria, there is a minimum deposit requirement of $/€/£100 or ₦40,000 for Standard accounts, $/€/£200 or ₦80,000 for ECN Zero accounts and $/€/£200 or ₦80,000 for ECN accounts. For clients who reside in South Africa, there is a minimum deposit requirement of $/€/£100 for Standard accounts, $/€/£200 for ECN Zero accounts and $/€/£500 for ECN accounts. For clients who reside in Tanzania, Ghana and Kenya, there is a minimum deposit requirement of $/€/£200 for ECN accounts.
Minimum investment is $/€/£10 or ₦2000, which is also pocket-friendly meaning that all traders can afford what FXTM is offering on their platform.
Investors at FXTM have a variety of trading platforms to choose from including the latest MetaTrader5, MT5 Pro, MetaTrader4, MT5 Web Trader, VPS, and the iOS & Android MT4 mobile apps. Available for trading is more than 250 assets in all categories of Currency pairs, Commodities (Gold, Oil, Silver), Shares, Market Indexes and CFD’s.
Crypto Currency pairs; Bitcoin, Ethereum, or Litecoin were listed for trading since December 2017. Copy trading is available via FXTM Invest with strategy managers from around the world.
A variety of bonuses are offered at the broker, and it seems that 30% is the standard for 2019. Naturally you can test out the broker with a free demo trading account, or just get a new trading account with a small deposit of only $100, register here.
Official Broker Website : https://www.forextime.com/