Different parameters contribute to a fair and reliable trading experience. We compiled reviews of many Forex, CFD, and Crypto currency brokerage firms for you. We are hoping to add new reviews day by day and expand our library. We are assisted by professional traders with many years of expertise in the market to conduct their reviews. We know that no company is perfect and there may be some shortcomings in every company we review. Even the best Forex companies in the market made mistakes and victimized their customers. However, our goal is to provide you with a list of the best brokerage firms on the market that guarantees you to keep your funds safe and provide a favorable environment for you to enjoy a profitable trade. Below are the aspects we have taken into consideration during these reviews.
Broker Location and Regulator
Location plays an important role in determining a company’s reputation, reliability and authenticity. The location and regulation are considered together, especially when we take into account the advantages of trading with a supervised broker audited to the best standards in the regulation.
In our experience, we believe that companies operating in countries such as the US, EU zone, Australia, Japan, Canada offer better regulatory protection than firms in the Middle East, South Africa, Virgin Islands, Belize or other island countries. Naturally, the leading countries in our list owns some of the most rigorous and respected regulatory agencies in the world, further enhancing our belief in their effectiveness in combating broker fraud.
Although the “tax haven” name has a negative reputation in the sector, there are also companies in these countries that offer high quality services without disturbing their customers in any way.
back to menu ↑Account Types
Companies are expected to offer equal services to small, medium and large account traders and not to classify their customers by account size. We believe that everyone should have access to the market without discrimination. Many brokerage firms in the market devote their services especially to wealthy investors. In our assessments, we investigated the types of accounts that are easily accessible to anyone without the need for a specific account size or social status. We have evaluated the types and numbers of accounts created by firms , types of accounts specific to customers with concerns about religious reasons, and the accessibility of these accounts.
back to menu ↑Transaction Costs
As transaction costs, we accept minimum deposit requirements, spreads, commissions, SWAP rates, deposit and withdrawal fees, and other costs for services associated with a trading account. The cost of trading varies depending on the type of accounts, trading style of the trader and trading frequency. Generally, we recommend ECN brokers that offer the lowest commission with very low spread guarantee for low cost trading.
back to menu ↑Spread Index
We have created a basket to determine the average spreads of the brokerage firms. We aimed to provide you with numerical data about the spread rates of a company. We used the average of 5 major and 5 cross parities in the Spead Index calculation. We have also added a certain percentage of the commission rate to the spread rate of the relevant parity in order to properly evaluate the commissioned trading accounts.
| EURUSD | AUDUSD |
| USDJPY | AUDCAD |
| GBPUSD | EURNZD |
| NZDUSD | GBPJPY |
| XAUUSD | NZDJPY |
Before the spread averages are taken, 0.2 lot trading commission is added to the related parity as spread for commissioned accounts.
back to menu ↑Leverage and Margin Requirements
Forex trading is a leveraged product which is also one of the unique aspects of the business. Trading with high leverage and low margin requirements can have devastating effects on an investor’s capital. We do not recommend traders to use high leverage. Another point is micro trading volume. Some brokers offer the option to trade down to $ 1. Small transaction volume is an important feature for relatively small investors. Due to the nature of leveraged transactions, a small movement can produce large positive and negative results. This is a risk for trader and the broker as well. Your broker will cut off your trades in order to protect themselves, if your capital is not sufficient to deal with the losses.
back to menu ↑Platforms & Features
Trading platform is the most important component that connects the trader to the market. Platform performance and reliability may result in gains and losses in the markets: That’s why good companies focus on providing the best trading interfaces to their customers. Some brokers offer custom dedicated commercial platforms, while other brokers choose to offer licensed versions of third-party commercial platforms such as MetaTrader and cTrader.
back to menu ↑Deposit and Withdrawal Options
The regulated brokers are required to follow a wide range of money laundering laws and other financing restrictions due to the internal risks of overseas financial transactions. Regardless, we compare companies with different payment options, minimum / maximum deposit and withdrawal conditions, security of payment processors, and the speed completing internal and external transactions. We know that companies’ fund security and transaction speed are extremely important. Companies that take care to facilitate fast, trouble-free and secure payments are always considered to be more reliable than those that concentrate solely on improving the foreign exchange trading environment.
back to menu ↑Customer Service
A firm can be the best trading company in the industry for its good services including security of funds and general trading features, but a bad customer support department can reduce or disrupt the company’s chances of reaching the top of the trading industry. A significant majority of retail traders wish to be able to contact company representatives at any time of day or night for any concerns and expect the broker to provide sincere and professional support to solve their problems. Some regulators want brokers to represent each client by a specific legal advisor. At the same time, we know that the best companies in the market will always try to resolve their conflicts with their customers, rather than bringing them into a legal process.
back to menu ↑Bonuses and Promotions
Forex and cryptocurrencies have become very competitive in recent years and we are witnessing a significant increase in the number of companies. Increased competition between brokerage firms means that investors have many different options. Therefore, some companies now offer attractive rewards such as membership bonuses, deposit bonuses, loyalty programs, cash rebates and free promotions to attract investors to brokerage accounts. We recommend the best companies that offer good prizes and promotions without forcing the trader under impossible trading conditions. Where possible, investors are also advised to avoid certain bonuses, particularly due to generally unreasonable transaction restrictions imposed on the client’s capital. These promotions are controlled by regulators and we should also inform them that they are often restricted.
