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5 Best CFD Brokers 2022

For this list, we have searched and tested several CFDs brokers regulated in top jurisdictions.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best CFDs brokers regulated in top jurisdictions based on our trading data and experience as a trader.

What are CFDs?

Contracts for difference, better known as CFDs, are agreements between buyers and sellers of financial derivatives that are settled in cash upon closing. CFDs are complex financial instruments.

Being derivatives, CFDs track the prices of the underlying assets. CFDs traders only bet on the price movements and never own any assets. The net difference of the gain or loss in trading such contracts is settled through the trader’s brokerage accounts.

CFDs became popular as they are leveraged products, and traders can take big positions in the market with small margins. Though CFDs increase the amount of potential profitability, the risks also increase proportionately.

Another major advantage of the CFDs is access to wider markets. Brokers can offer CFDs of all asset classes and from foreign markets.

Some of the key advantages of CFDs are:

  • Leveraged products
  • Access to wider products and markets
  • No set expiry of contracts
  • Small minimum contract size
  • Easy to create new instruments
  • Traders can take both long and short positions on the market

Key highlights of CFDs instruments:

πŸ“ˆLeverage1:30 to 1:400
πŸ“ŠMarketsForex, indices, stocks, commodities, cryptocurrencies, and more
πŸ—“ExpiryNo
πŸ’°Contract sizeSmall
πŸ“‰PositionsLong and short
πŸ–₯Order typeDepend on the broker

Best CFDs Brokers

To select the best CFDs brokers in every top jurisdiction, we tested and reviewed several brokers. We opened live accounts and deposited real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • FP Markets β€“ Best CFDs Broker in the United Kingdom
  • IG Markets – Best CFDs Broker in New Zealand
  • Saxo Markets β€“ Best CFDs Broker in the European Union
  • ThinkMarkets – Best CFDs Broker in Australia
  • Plus500 – Best CFDs Broker in Singapore

Best CFDs Broker in the United Kingdom

We have picked FP Markets as the best CFDs broker in the UK.

FP Markets is a reputed CFDs broker and is headquartered in Australia. It is also a publicly listed company, making it a very safe platform. FP Markets holds 3 regulatory licenses. One of the licenses is from Australia’s ASIC. The other two are from Cyprus Securities and Exchange Commission (CySEC) and Saint Vincent & The Grenadines Financial Services Authority (SVGFSA).

FP Markets also aces when it comes to trading services with CFDs. It lists instruments forex and CFDs of stocks, indices, commodities, and forex. It also offers cryptocurrency CFDs outside the UK.

The broker offers excellent trading conditions, and charges spread much lower than the industry average. It also supports several deposit and withdrawal channels.

Best CFDs Broker in New Zealand

We have picked IG Markets as the best CFDs broker in the US.

IG Markets is probably the most trusted CFDs broker in New Zealand. It operates in the country with a Financial Markets Authority (FMA) license and is also regulated in several other jurisdictions, including the US, UK and Australia.

IG offers its clients access to more than 13,000 CFDs instruments of shares, commodities, cryptocurrencies and other markets. It provides New Zeland-traders access to foreign companies listed in the US, UK and Australia. It offers direct market access where it is possible, along with trading in the grey market and IPOs.

Best CFDs Broker in the European Union

We have picked Saxo Markets as the best CFDs broker in the EU.

Saxo Markets is regulated in the UK, Italy, Czech Republic, the Netherlands, Switzerland, France, Denmark, UAE, Japan, Hong Kong, and Australia. It is one of the European brokers with the most licenses from regulators within the European Union.

Saxo Markets is an excellent forex broker and also aces when it comes to CFDs. It offers investors access to over 19,000 stock CFDs that are listed on more than 40 exchanges around the world. It also offers CFD trading with indices, forex, commodities, options, bonds and cryptocurrencies.

Saxo promises tight spreads and low commissions and offers three account types to its clients.

Best CFD Trading Platform in Australia

We have picked ThinkMarkets as the best CFDs broker in Australia.

ThinkMarkets is one of the best CFD brokers in Australia. Apart from Australia, it is also licensed in the UK, South Africa, and Seychelles.

The broker offers trading services with forex and CFDs of indices, stocks, ETFs, commodities and cryptocurrencies. The total number of instruments listed on its platform exceeds 1,600, out of which 1,552 are CFDs products of stocks and ETFs. Spreads on the broker also remain lower than the industry average across all markets.

Best CFDs Broker in Singapore

We have picked Plus500 as the best CFD broker in Singapore.

Plus500 is an Israeli broker and is listed on the London Stock Exchange. It is regulated in the UK, Cyprus, Australia, South Africa, Seychelles, and Singapore. Being a publicly listed company, it is a safe broker to trade with.

Plus500 offers traders access to several markets, including forex, stocks, indices, commodities, ETFs, options and cryptocurrencies. It lists around 2,400 trading instruments, the majority of which are the stock CFDs. The spreads on the broker are also below the industry average, according to our tests.

CFDs Brokers List

Apart from the shortlisted brokers, here is a complete list of CFDs brokers, which we have tested and reviewed.

Forex BrokerRegulated in the UKRegulated in New ZealandRegulated in EURegulated in AustraliaRegulated in SingaporeTest DetailsBroker Review
FxProYesNoYesNoNo
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsYesNoYesYesNoDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsNoYesNoNoNoDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
GO MarketsNoNoYesYesNoDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesYesNoNoNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMYesNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMYesNoYesNoNoDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalYesNoYesNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillYesNoYesNoNoDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comYesNoYesNoNoDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBYesNoYesNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)YesNoYesNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneYesNoYesYesNoDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSNoNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXYesNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexYesNoNoNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsNoNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsYesNoNoYesNoDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsNoNoYesYesNoDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalYesNoYesNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeNoNoYesYesNoDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsYesYesYesYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXYesNoNoYesNoDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXYesNoNoNoNoDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)YesNoNoYesNoDeposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
Plus500YesYesYesYesYesDeposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToroYesNoYesYesNoDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 212YesNoYesNoNoDeposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
FortradeYesNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on CFDs Brokers

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to CFDs brokers.

Best CFD Trading Platform UK

All CFD platforms and brokers providing services in the UK need to be licensed by the Financial Conduct Authority (FCA), which is a well-reputed regulator with strict guideliness. Out of many CFDs brokers operating in the country, some of the top platforms are:

Best CFDs Brokers in Singapore

Singapore is seen as the financial gateway to Asia. It has become a top priority of the retail CFDs brokers to obtain a regulatory license from the Monetary Authority of Singapore (MAS) for legally operating in the city-state. Some of the top regulated CFDs brokers in Singapore are:

  • IG Markets
  • OANDA
  • CMC Markets
  • Plus500

Best CFDs Brokers in Australia

Australia is a big market for retail trading platforms, and the Australian Securities and Investment Commission (ASIC) regulated all CFDs brokers in the country. Some of the regulated best CFDs brokers in Australia are:

  • FP Markets
  • IC Markets
  • ThinkMarkets
  • Vantage FX
  • Pepperstone

Best CFDs Brokers in South Africa

The Financial Sector Conduct Authority (FSCA) regulates all forex and CFDs brokers operating in South Africa and some of the top local brokers are:

  • AvaTrade
  • Tickmill
  • Plus500
  • ThinkMarkets

Best Stock CFDs Platforms

Stock CFDs allow investors to trade Stocks listed in Foreign markets without owning an asset and speculate on its price movement with much smaller price due to leverage, and this led to a massive demand for such instruments. Some of the regulated brokers that offer access to stock CFDs of companies listed on multiple foreign stock exchanges are:

Best MT4 CFDs Brokers

MT4 is the most popular platform among traders to trade forex and CFDs. The platform is developed by MetaQuotes and brokers license it to offer their services. Some of the best brokers offering CFDs trading on MT4 are:

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ZuluTrade Review 2022

For this list, we have searched and tested several forex brokers using ZuluTrade.

We opened real accounts and deposited between $4,000 and $8,000 with each of the platforms. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best forex brokers using ZuluTrade based on our trading data and experience as a trader.

What is ZuluTrade?

ZuluTrade is a social and copy trading platform that connects traders around the world. It is a popular social platform and is probably the one with the most number of traders.

The platform allows traders to receive and share trading signals and also follow strategies from experts to executing trading, a technique popularized as copy trading.

ZuluTrade was founded in 2007 and became very popular among the forex trading community. It started supporting the execution of only forex trades but soon added the capability of trading CFDs. It offers trading services with forex, stocks, commodities, indices and cryptocurrencies.

How to Get Started with ZuluTrade?

To use ZuluTrade’s services, traders need to open an account with ZuluTrade. Then, they can decide on to broadcast market signals or follow other traders to execute copy trading.

ZuluTrade Classic

ZuluTrade offers two account types:

  • Classic: This account is meant for expert traders who want to manually trade on the markets and broadcast their trading. They can also copy the trades of other traders.
  • Profit-Sharing: This account is meant for newbies who only want to copy experts’ trades.

Traders without any brokerage account can instantly open an account with any of the ZuluTrade-supported brokers.

Becoming a signal provider with ZuluTrade can pay off expert traders well. They can receive 0.5 pip per lot from each trader following their strategies with a real money account.

Criteria to become a ZuluTrade signal provider:

  • Traders have to maintain a maximum historic drawdown of less than 30%.
  • Should maintain at least average 6 pip per trade.
  • Have to trade with ZuluTrade for at least 12 months.

Features of ZuluTrade

ZuluTrade is very user-friendly and provides many features to traders. Some of the in-built features on the social forex trading platform are:

🏦 Pip and profit calculatorYes
πŸ“Š Margin calculatorYes
πŸ’° Currency calculatorYes
πŸ—“ Economic calendarYes
πŸ“‘ NewsfeedYes
πŸ“‰ SlippageYes

ZuluTrade Copy Trade Review

But, like any other platform, ZuluTrade also has many advantages and disadvantages.

Some of the benefits of using ZuluTrade are:

  • Traders can use a demo account first
  • It supports many brokerages regulated in several jurisdictions
  • Provides a great community of traders
  • Transparency is maintained as all the trades of the signal provider is visible
  • Low ongoing or overhead cost
  • Supports trading in all popular asset classes

Some of the key disadvantages that newbie traders should be aware of are:

  • Usual risks of trading are applicable
  • Signal providers are not required to trade with their own funds
  • Several investment traders are registered as signal providers

Best ZuluTrade Forex Brokers

To select the best forex brokers for ZuluTrade Review, we tested and reviewed dozens of forex brokers. We opened live accounts and depositing real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • IC Markets – Best Overall Forex Broker with ZuluTrade
  • Amana Capital – Best Low Deposit Forex Broker with ZuluTrade
  • BlackBull Markets – Best High Leverage Forex Broker with ZuluTrade
  • AvaTrade – Best Low Spread Forex Broker with ZuluTrade
  • Swissquote – Best Forex Trading Platform with ZuluTrade

Best Overall Forex Broker with ZuluTrade

We have picked IC Markets as the best overall forex broker with ZuluTrade.

IC Markets is one of the Australian forex brokers, holding licenses in Australia, Cyprus, Seychelles, and the Bahamas. It is a popular platform and offers trading services with forex, indices, stocks, commodities and cryptocurrencies. The broker offers around 559 trading instruments.

Our tests also find that IC Markets charges lower than industry average spreads across all markets. The average spread on the EUR/USD pair on the broker is 1 pip, compared to the industry average of 1.6 pips.

The broker supports several widely used deposit and withdrawal methods, including bank transfer, credit/debit cards, and online wallets like PayPal, Skrill and Neteller. It also has an excellent customer support team.

Best Low Deposit Forex Broker with ZuluTrade

We have picked Amana Capital as the best low deposit forex broker with ZuluTrade.

Amana Capital does not have any minimum deposit requirement, meaning new traders can start with the smallest sum they want. The broker takes deposits in several methods, bank transfers, credit/debit cards, Neteller and Skrill, along with many other local methods.

However, the broker charges fees on most of the deposits and withdrawals, which the traders must consider.

Amana Capital is regulated in the United Kingdom, the United Arab Emirates, Cyprus, Malaysia, and Mauritius. It offers 392 investment instruments that range from forex and stocks to commodities and cryptocurrencies.

Best High Leverage Forex Broker with ZuluTrade

We have picked BlackBull Markets as the best high leverage forex broker with ZuluTrade.

When it comes to leverage, not many reputed regulators allow brokers to offer high leverages anymore, with only a couple of exceptions. BlackBull Markets, which is regulated by New Zealand’s FMA, offers maximum leverage of up to 500:1 on major currencies.

BlackBull offers trading services with forex and CFDs of stocks, indices, and commodities, listing a total of 280 instruments. The broker also holds a license from the Seychelles regulator, under which it offers leverage up to 300:1.

Best Low Spread Forex Broker with ZuluTrade

We have picked AvaTrade as the best low spread forex broker with ZuluTrade.

Headquartered in Dublin, AvaTrade is one of the best brokers when it comes to trading fees, especially spreads. It charges only 0.87 pip in spreads on the EUR/USD pair, much lower than the industry average. Spreads on other markets also remained around or lower than the industry averages.

AvaTrade lists 796 trading instruments and offers trading with forex and CFDs of indices, commodities, bonds, cryptocurrencies, stocks, and ETFs. It is also a well-regulated broker and holds licenses from the regulators in Ireland, Japan, Australia, UAE, South Africa, and the British Virgin Islands.

Best Forex Trading Platform with ZuluTrade

We have picked Swissquote as the best forex trading platform with ZuluTrade.

ThinkMarkets (previously ThinkForex) is an excellent platform to trade forex. It is headquartered in Australia and regulated in Australia, the UK, South Africa, and Seychelles.

ThinkMarkets offers 40 currency pairs and offers trading on MT4, MT5 and proprietary AvaTrader platforms. The broker does not have any limitations in trading, meaning traders can run both scalping and hedging.

Apart from forex, ThinkAmrkets also offers CFDs of indices, commodities, cryptocurrencies, and stocks. It lists a total of 1,628 trading instruments.

ZuluTrade Forex Brokers List

Here is a complete list of forex brokers that are supported by ZuluTrade, which we have tested and reviewed.

Forex BrokerZuluTrade SupportTest DetailsBroker Review
BlackBull MarketsYesDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
TickmillYesDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
GKFXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
IC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsYesDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
Amana CapitalYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
Vantage FXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
Axi (AxiTrader)YesDeposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
ActivTradesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review

FAQ and More on ZuluTrade Supported Brokers

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to ZuluTrade and brokers supporting ZuluTrade.

Is ZuluTrade Legal in the US?

Yes, ZuluTrade is operating legally in the United States. The platform entered the US in 2020 with a partnership with US-based introducing broker ZYTrade LLC, which is regulated under the National Futures Association (NFA).

OANDA is the only broker that offers trading services with ZuluTrade in the United States.

Best ZuluTrade Brokers for Trading Forex

Several brokers have integrated ZuluTrade’s services to offer copy trading services. Some of the brokers with ZuluTrade, which are offering the best environment for trading forex, are:

  • IC Markets
  • Swissquote
  • AvaTrade

What Is the Minimum Deposit on ZuluTrade?

The minimum deposit on ZuluTrade can be as low as $1. The amount and the mode of deposits completely depend upon the broker with which the traders open their brokerage accounts. Some of the low deposit forex brokers with ZuluTrade are:

  • Amana Capital
  • InstaForex
  • Redstone

MT4 Forex Brokers with ZuluTrade

MT4 is the most popular platform for trading forex and CFDs, and it is also one of the most preferred for social trading with ZuluTrade. Some of the ZuluTrade brokers offering services on MT4 are:

  • IC Markets
  • Tickmill
  • AvaTrade
  • Vantage FX

Micro Lot Forex Brokers with ZuluTrade

Beginner forex brokers prefer to trade with micro-lots of currency pairs, which allows them to minimize the risk exposure on the market. Some of the forex brokers with ZuluTrade that allows trading with micro-lots are:

  • Tickmill
  • AvaTrade
  • ActivTrades
  • OANDA

ZuluTrade Australia

ZuluTrade is user-friendly and it provides a number of benefits to traders. Anyway, to get the most from ZuluTrade, it is advisable to pick a trustworthy broker, with good offerings and great features. To be helpful, we have tested Australian brokers with ZuluTrade, placing actual trades in popular markets to get the real picture. Read more about best forex brokers Australia.

Based on our testing results, we have come up with the following forex brokers that offer ZuluTrade:

  • IC Markets
  • AvaTrade
  • Vantage FX
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5 Best Social Forex Trading Platform 2022

For this list, we have searched and tested several social forex trading platforms and apps.

We opened real accounts and deposited between $4,000 and $8,000 with each of the platforms. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best social forex trading platforms and apps based on our trading data and experience as a trader.

What is Social Trading?

Social trading primarily involves the communication between traders who are willing to share and discuss their trading strategies, thus receiving and providing tips and suggestions.

Social Trading Strategies

Some of the broad categories of social forex trading are:

  • Copy trading
  • Mirror trading
  • Signals and tips
  • Forums and profiles

Social forex trading platforms usually cut the time for fundamental and technical analysis as traders can scoop trading data-feeds of other traders from social trading platforms to make investment decisions. 

The most popular form of social trading now is copy trading services. It allows one trader (usually a rookie) to copy trading strategy and techniques of another trader, usually an expert. Newbies can earn some profits with this when they are still learning about trading and markets.

The popularity of social trading skyrocketed with the introduction of electronic trading and the rise in internet penetration. It remains very popular among retail traders.

Though many brokers are developing their own social trading platforms, the industry is dominated by specialized third-party companies.

Best Social Forex Trading Platforms & Apps

To select the best social forex trading platforms and apps, we tested and reviewed dozens of forex brokers. We opened live accounts and depositing real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • ZuluTrade – Best Social Forex Trading Platform
  • eToro β€“ Best Copy Trading Platform
  • MetaQuotes MetaTrader – Best Forex Trading Signals Provider
  • cMirror – Best Forex Mirror Trading Platform
  • Myfxbook – Best Social Forex Community Fourm

Best Social Trading Software Platform

We have picked ZuluTrade as the best social forex trading platform.

ZuluTrade is probably the most popular social forex trading platform. It maintains and connects a vast community of traders that ranges from novice to expert.

ZuluTrade offers works as a signals provider, and newbie traders can also copy the portfolio and trading strategies of expert traders. The platform first offered services only to forex trading, but later extended support for CFDs as well. Though it added binary options too, the services for these controversial instruments were dropped in 2018.

ZuluTrade has partnered with dozens of brokers, which holds licenses around the world. It offers an easy to use social trading platform and also keeps its operations transparent.

Best Copy Trading Platform

We have picked eToro as the best copy trading platform.

eToro revolutionized the copy trading space in the last decade. The Israeli platform was founded in 2006 and now operates as a full broker. eToro is focused on novice tradersTraders can easily copy the trading strategies and techniques of expert traders. The platform also maintains a leader board of all top traders.

eToro offers trading services with forex, and CFDs of indices, commodities, stocks, and cryptocurrencies. It is regulated in the UK, the USA, Australia, and Cyprus.

Best Forex Social Trading Signals Provider

We have picked MetaQuotes’ MetaTrader as the best forex trading signals provider.

MetaQuotes Software’s two trading platforms, MetaTrader 4 and MetaTrader 5, are the most widely used in trading forex and CFDs. Hundreds of forex brokers license these industry-standard platforms to offer trading services instead of developing their native platform.

MetaTrader added signals services in 2013 and any trader using anyone of the MT platforms can either subscribe to or provide trading signals. The popularity of the platform also resulted in forming a major community of traders who can also discuss these signals.

Best Forex Mirror Trading Software

We have picked cMirror as the best forex mirror trading platform.

cMirror has been developed by Spotware Systems, the same company that built the popular trading platform cTrader. The mirror trading platform was launched in November 2014 when demand for such services was skyrocketing.

cMirror allows traders to become strategy providers by broadcasting their trading signals. Other traders can search through the available signals and easily copy or mirror these trading strategies. The signals providers, in return, can earn commissions.

Best Social Forex Community Forum

We have picked Myfxbook as the best social forex community forum.

Myfxbook is one of the best forex community builders where traders can share signals and interact on active forums. The platform was founded in 2009 and since expanded its services in several other areas as well.

Myfxbook allows traders to research and analyze markets using an excellent set of analytical tools. Traders can also track, compare and share trading activities. The platform is currently supported by more than 100 brokers.

Social Trading Forex Brokers List

Here is a complete list of forex brokers that offers social trading services either natively or with third-party platforms, which we have tested and reviewed.

Forex BrokerSocial/Copy TradingTest DetailsBroker Review
FxProYes
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsYesDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
GO MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
XMYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
TickmillYesDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
RoboMarkets (RoboForex)YesDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSYesDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsYesDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXYesDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)YesDeposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
eToroYesDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review

FAQ and More on Brokers Offering Social Forex Trading Platforms & Apps

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to social forex trading platforms and apps.

Best Social Trading Platform in the US

The US is one of the highly regulated markets when it comes to trading. Similar to any brokerage, social trading platforms in the country also need to register themselves with the NFA to legally offer services in the country. Some of the regulated social trading platforms in the US are:

  • ZuluTrade
  • eToro
  • Trading Motion

Best Social Trading Platform in India

Though the Indian capital market is regulated by the Securities and Exchange Board of India (SEBI), the regulations are loose when it comes to forex and CFDs trading. Thus, foreign platforms can easily offer services to Indian residents. Some of the good social trading platforms in India are:

  • ZuluTrade
  • eToro
  • Naga Trader

Social Trading Platform for Binary Options

Binary options are simple investment instruments, but are banned or highly restricted in most countries due to the scams involved with these instruments. Though many social trading platforms were offering services with binary options, they dropped the instrument due to the regulatory crackdown.

We do not recommend traders to use any of the loosely regulated social trading platforms which are still offering binary options.

Cent/Micro Account Forex Brokers in India

Though the Securities and Exchange Board of India (SEBI) oversees Indian financial services players, forex brokers are loosely regulated in the country. Some of the well-regulated forex brokers offering cent/micro accounts in India are:

  • FBS
  • XM
  • HotForex

Best Social Copy Trading Platforms

Copy trading allows newbie traders to directly follow the trading activities of any expert. They copy all the positions in the market taken by the expert. These platforms have become very popular lately, and many platforms are offering such services. Some of the good copy trading platforms are:

  • eToro
  • NagaTrader
  • ZuluTrade

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5 Best Forex Trading App 2022 (Andriod, iPhone, iPad)

For this list, we have searched and tested several forex trading apps offered by brokers.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best forex trading app based on our trading data and experience as a trader.

What are Forex Trading Apps?

Forex trading apps enable traders to execute trades on mobile devices. These trading apps are becoming popular among retail traders as mobile trading is becoming a norm with fast internet connections and powerful mobile devices.

Mobile trading apps are mostly built for two widely-used operating systems:

  • iOS
  • Andriod

The form factor of mobile devices also plays a crucial role in the development of such apps. And the brokers are also focusing on mobile apps due to the rising demand. In fact, multiple market surveys have found that more trades are getting executed on mobile devices now compared to desktop clients.

Forex mobile trading apps also support some powerful market analysis tools. But the limited screen size and the device processing power have become a roadblock in this segment.

Some of the benefits of forex mobile trading apps are:

  • Ability to monitor the market while on the move
  • Execution of trades from anywhere
  • User-friendly interface

Best Forex Trading Apps

To select the best forex trading apps,Β we tested and reviewed several brokers (See the popular trading app for legit forex brokers in Nigeria). We opened live accounts and deposited real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • Markets.com – Best Overall Forex Trading App
  • IG Markets – Best Forex Trading App for Beginners
  • eToro β€“ Best Forex Social Trading App
  • IC Markets – Best MT4 Forex Trading App
  • CMC Markets – Best CFDs Trading App

Best Overall Forex Trading App

We have picked Markets.com as the best overall forex trading app.

Markets.com offers one of the best apps when it comes to trading on mobile devices. Its mobile trading app is called Marketsx and is available on both iOS and Android devices.

Despite being a mobile app, Marketsx is loaded with features, Traders can obviously execute trades, but can also analyze the markets with some powerful tools and indicators. Additionally, the app also provides expert recommendations, opinions, hedge fund confidence metrics, trends and many more.

Markets.com also provides trading on MT4, MT5, and proprietary Matketsi, but those don’t have mobile clients.

It is a well-regulated broker and offers trading with forex and CFDs of indices, stocks, commodities and cryptocurrencies.

Best Forex Trading App for Beginners

We have picked IG Markets as the best forex trading app for beginners.

IG is a big name when it comes to trading platforms. The broker is regulated in almost all key jurisdictions and offers trading in more than 17,000 markets.

When it comes to mobile trading, the app offered by IG is probably the best choice for beginners. Available on both iOS and Android platforms, the app is very easy to use and navigate. But the most beginner-friendly feature of the IG app is the abundance of trading and market tutorials.

IG clients also have the ability to analyze the markets with 28 technical indicators on interactive price charts.

Best Forex Social Trading App

We have picked eToro as the best forex social trading app.

When it comes to social or copy trading, eToro is undoubtedly the leader. It has an excellent interface on mobile devices, both on iOS and Android. Traders get the list of all experts whose portfolios and trading activities can be copied.

The app shows all important metrics like the risk indicators of each expert, their returns, AUM, trade details, and all other key sentiments. Traders can also analyze the markets using charting tools and indicators, and place direct orders.

Best MT4 Forex Trading App

We have picked IC Markets as the best MT4 forex trading app.

MT4 is the top platform when it comes to trading forex and CFDs. But the mobile version of the platform dies not comes as a default: brokers need to license the mobile version separate from the legacy desktop client. IC Markets offers trading services using the MT4 platform on the web, desktop and mobile.

It offers a user-friendly interface with trade levels and volumes on the chart. The app can be also used while on offline mode to check symbol prices and charts. Traders can analyze the market with more than 30 indicators and execute trades directly from the charts.

IC Markets is an Australian broker and apart from his home base is also regulated in Cyprus, Seychelles, and the Bahamas. It offers trading services with forex and CFDs of indices, stocks, commodities and cryptocurrencies.

Best CFDs Trading App

We have picked CMC Markets as the best CFDs trading app.

CMC Markets is an excellent broker overall and also when it comes to trading CFDs on mobile. The broker offers dedicated platforms for iOS and Android devices, along with the usual web and desktop clients.

CMC’s mobile platforms come with a customizable dashboard. Traders can monitor the markets with optimizable charts: it offers a range of popular technical indicators and customizable chart extensions for market analysis.

CMC is one of the best CFD brokers, because of its wide range of product lines. It offers more than 10,000 CFD instruments across several markts including forex, stocks, indices, commodities and cryptocurrencies.

Forex Trading App List

Apart from the shortlisted brokers, here is a complete list of brokers that offers dedicated forex trading apps and platforms for mobile devices, which we have tested and reviewed.

Forex BrokerAppsPlatformsTest DetailsBroker Review
Admiral MarketsYesNoDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
ActivTradesYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
FXTMYesYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
Capital.comYesNoDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)NoYesDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
FBSYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
ThinkMarketsYesYesDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
AvaTradeYesYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXYesNoDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
Plus500YesYesDeposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToroYesYesDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 212YesYesDeposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
FortradeYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on Mobile Forex Trading Apps

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to Mobile forex trading apps below.

Best Forex Trading App in the UK

The UK is a hub for forex trading brokers, most of which are offering trading apps to facilitate mobile trading. Some of the best FCA-regulated brokers offering forex trading apps are:

  • CMC Markets
  • IG Markets
  • Markets.com

Best Forex Trading App on Android

Android is the most used operating platform for mobile phones, from budget to high-end. As the mobile trading craze is growing, brokers are focusing to offer the best experience on Android phones. Some of the best forex trading apps on Android are:

  • eToro
  • Markets.com
  • Trading212
  • Saxo Bank

Best Forex Trading App for iPhone iPad

Offering mobile platforms on iOS is a priority for brokers as Apple devices (iPhone and iPad) are very popular around the world. Some of the brokers offering the best forex trading apps on iOS are:

  • CMC Markets
  • Markets.com
  • IG Markets

Forex Trading Demo Apps

Forex trading demo apps are popular as they allow new traders to learn trading using a demo account offered by the brokers. Traders can analyze the markets and execute trades on these accounts without risking real money. Some of the good forex trading demo apps are:

  • eToro
  • AvaTrade
  • IG Markets
  • Forex.com

Best Forex Trading Signals Apps

Forex signals are the expert leads and market forecasts based on their market analysis. There are many signals providers in the market, and many are now complementing their services on mobile devices as well. Some of the good forex signals apps on mobile are:

  • eToro
  • ZuluTrade
  • NAGA Trader

Categories
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5 Best Forex Brokers for Beginners 2022

For this list, we have searched and tested several forex trading platforms suitable Forex Brokers for beginners.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best forex trading platform for beginners based on our trading data and experience as a trader.

What is Forex Trading?

Forex trading is the process of buying and selling currencies solely for the purpose of making profits. Such forex traders don’t intend to use foreign currency for international trades or any other purpose. 

Forex trading always remained popular among institutions, but retail interest in the sector boomed with the beginning of electronic trading and internet penetration.

Retails traders can make profits from forex trading in two ways:

  • Take profit from the change of exchange rate
  • Profits (or loss) from the interest rates differentials of two currencies

Though experts usually indulge in forex trading, the minimum entry barriers attracted a ton of beginners towards the industry. Brokers are also now focused on making their platform beginner-friendly.

The characteristics of a good forex broker for beginners are:

  • Easy-to-use platform
  • Availability of good educational resources on both markets and trading strategies
  • Low trading fees
  • Transparent services
  • Excellent customer service

Best Forex Broker for Beginners

To select the best forex broker and trading platform for beginners, we tested and reviewed several forex brokers. We opened live accounts and depositing real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • XTB – Best Overall Forex Broker for Beginners
  • Markets.com – Best Forex Trading Platform for Beginners
  • Admiral Markets – Best Forex Broker for Beginners (Low Fee)
  • XM – Best Forex Broker for Beginners (Educational Resources)
  • FortradeΒ – Best Forex Broker for Beginners (Customer Service)

Best Overall Forex Trading Broker for Beginners

We have picked XTB as the best overall forex broker for beginners.

XTB, which is headquartered in London and Warsaw, offers excellent service and is commendable in all areas, let it be the trading platform, fees, deposit and withdrawal methods, educational resources, or customer support.

XTB provides trading services with forex and CFDs of indices, stocks, commodities, ETFs, and cryptocurrencies. It is also a well-regulated broker, holding licenses in reputed global jurisdictions.

The broker has excellent customer support, who can be easily reached via multiple modes. The educational resources on the brokers are very helpful and easy to understand, which is very crucial for a beginner-friendly forex broker.

Best Forex Trading Platform for Beginners

We have picked Markets.com as the best forex trading platform for beginners.

Markets.com is excellent when it comes to trade forex. The broker offers 67 currency pairs, along with CFDs of indices, stocks, commodities, and cryptocurrencies.

Markets.com offers its services on multiple platforms: industry-standard MT4 and MT5, and proprietary platforms Marketsx and Marketsi. The broker does not have any limitations on trading, meaning both scalping and hedging are allowed.

Best Forex Broker for Beginners (Low Fee)

We have picked Admiral Markets as the best forex brokers for beginners with low fees.

Trading and non-trading fees are crucial factors when it comes to beginner traders, and Estonia-based Admiral Markets excels in this area.

The broker does not have any significant deposit fee (only charges 0.9% on deposit with Neteller and Skrill) and has free withdrawals. It does not have any other non-trading fees, except dormant accounts have to pay a monthly fee of €10. Here you can see other forex no deposit bonus 2022 India brokers.

When it comes to trading, Admiral Markets has tight spreads. According to our tests, the average spread on the EUR/USD pair is only 0.6 pips, much lower than the industry average of 1.6 pips. Its spreads also remain consistently lower than the industry benchmark across all offered markets, which include forex, indices, stocks and commodities.

Best Forex Broker for Beginners (Educational Resources)

We have picked XM as the best forex broker for beginners with good educational resources.

When it comes to the educational materials for newbie brokers, XM is probably the best. It offers in-depth guides and informative video series on both trading strategies and markets. All the materials are categorized based on the experience level of the traders.

XM also conducts around 40 webinars every week on various trading-related topics every week. Furthermore, it offers its resources in different languages to cater to its diverse global client base.

The broker offers trading services with forex, indices, stocks, and commodities, and is regulated in several jurisdictions: the UK, Cyprus, Australia, UAE, and Belize.

Best Forex Broker for Beginners (Customer Service)

We have picked Fortrade as the best forex broker for beginners with good customer support.

Good customer support is not only essential for beginner traders but also experts. And Fortraded aces in offering excellent customer support.

Traders can reach customer support executives via live chat, email, and phone. The broker also assigns an account service manager to each of its clients. Our tests of the broker find that the answers provided by the broker on any customer query were accurate and direct. The responses of the service manager were even better and helpful.

Fortrade is a global broker and is regulated in the UK, Cyprus, Belarus, Australia, and Canada, offing trading services with forex, indices, stocks, commodities, and cryptocurrencies.

Forex Trading Platform List

Apart from the shortlisted brokers, here is a complete list of forex brokers and trading platforms for beginners, which we have tested and reviewed.

Forex BrokerTest DetailsBroker Review
FxPro
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)Deposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
FortradeDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on Forex Trading Brokers for Beginners

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to forex brokers and trading platforms for beginners.

Top Beginner Forex Brokers in the UK

Demand for retail forex trading has jumped in recent years, and this prompted many beginners to jump into the trading markets. Some of the top FCA-regulated forex brokers and Forex Trading Platforms UK suitable for beginner traders are:

  • IG Markets
  • CMC Markets
  • XM

Top Beginner Forex Brokers in the US

Forex brokers in the US must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA). Some of the US-regulated forex brokers for beginners traders are:

  • Forex.com
  • TD Ameritrade
  • IG (US)

MT4 Beginner Forex Brokers

As MT4 is the most popular platform to trade forex, many beginner traders being their trading journey with this trading platform. Though the platform is a bit outdated and made for professionals, brokers are customizing it to offer services to beginners. Some of the good forex brokers for beginners with MT4 for beginners are:

  • XM
  • CMC Markets
  • AvaTrade

Is Forex Trading Good for Beginners?

Trading forex is risky, especially when it comes to margin trading. But there is no restriction on the beginners on starting forex trading. We highly recommend beginners traders learn about the market and trading strategies and then implement those using demo accounts, before jumping into forex trading with a real account. Some of the forex brokers for beginners offering demo accounts are:

  • IC Markets
  • CMC Markets
  • ThinkMarkets

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Best Regulated Binary Options Brokers 2022 (US Regulated)

For this list, we have searched and tested several binary option brokers.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best binary options brokers based on our trading data and experience as a trader.

What are Binary Options?

Binary options are financial products that require traders to speculate if the price of the underlying assets will either go up or down. These products usually have an expiry date and/or time, similar to vanilla options, and provide fixed returns if the asset price moves in favor of the trader.

Binary options are easy to understand for any traders, even beginners. The speculation on the market can be made only in two ways, thus the name binary.

Binary options returns are not tied to the points increase or decrease of the underlying asset price. However, if the market moves against the trader’s bet, the entire investment will be lost.

Some benefits of binary options are:

  • Easy to understand.
  • Traders only need to speculate if the asset prices will up or down.
  • Returns are lucrative.
  • Easy to calculate risks and returns.

But, binary options are risky. In fact, these investment instruments are banned in most countries and heavily regulated in the rest.

Binary options brokers act as the counterpart, meaning they make money when the traders lose money. Brokers also have full control of the market data. 

Binary Options Regulations

The binary options industry saw many frauds over the past. While traders are attracted to these types of instruments due to their simplicity, the conflict of interest on the part of brokers fuels fraudulent activities.

As such, regulators around the world have either banned the retail sale and distribution of binary options or imposed heavy restrictions on binary options brokers. These financial instruments are categorized similarly to gambling.

Some of the countries which banned binary options are:

  • Australia
  • United Kingdom
  • European Union
  • Israel
  • Canada
  • Belgium

Still, many binary options brokers are operating with offshore licenses.

CFTC Regulated Binary Options Brokers

Though binary options are not banned in the United States, brokers need to be registered with the Commodity Futures Trading Commission (CFTC). In Japan, regulated binary options brokers cannot offer contracts with less than 2 hours in expiry. 

Best Binary Options Brokers

When it comes to regulated binary options brokers, there are not many choices. Most of the major world economies have banned the retail sale and distribution of binary options.

The United States is the only country with a good regulatory infrastructure allowing binary options trading. But, there is only one regulated US platform offering binary options.

  • NadexBest US-Regulated Binary Options Broker

Best US-Regulated Binary Options Broker

North American Derivatives Exchange or Nadex is regulated by the US Commodity Futures Trading Commission (CFTC) and is one of the very few well-regulated platforms offering binary options services. It is a very safe platform and allows US traders to trade with binary options.

Unlike the other binary options, Nadex does not act as a counterparty. Instead, it only matches the trades of the market participants. The exchange makes money by charging the commission for each trade.

But, the fee charged by the platform is on the lower side: only $0.90 for entry and exit of a position.

The exchange offers a ton of markets of binary options: stock indices, forex pairs and commodities. Traders can even take positions on major economic events like Fed’s funds rate, weekly jobless claims, and non-farm payroll.

Best Binary Options Trading Platform

The trading platform offered by Nadex is user-friendly and also provides a demo environment for beginners. However, the minimum deposit amount with the exchange to enter into the binary options market is $250, which can be considered a bit high.

Apart from binary options, Nadex also offers trading services with knockouts and call spreads

Offshore Regulated Binary Options Brokers

As most of the countries have banned or heavily restricted the distribution of binary options, many brokers are offering these instruments with offshore registered entities.

Some of popular offshore licensed binary options brokers are:

  • IQ Options
  • BDSwiss
  • Binary.com
  • InstaForex
  • Alpari

FAQ and More on Binary Options Brokers

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to binary options brokers.

Is Binary Options Safe?

Binary options are very risky investment instruments. Brokers are usually the counterparties on the trades and they also control all the market data presented to the traders. Because of the scams associated with binary options, most countries have banned such investment instruments.

US and Japan are the only two major countries allowing binary options, but under strict restrictions.

Regulated Binary Options Brokers

Though many brokers are offering binary options trading, most of them are not regulated or are licensed in offshore jurisdictions. The UK, Australia, European Union, and several other countries have banned these financial products. But the United States is one of the very few major countries still allowing binary options brokers.

Nadex is the only well-regulated binary options broker, and we don’t recommend traders approach any offshore brokers.

Binary Options Brokers in the US

Binary options brokers in USA need to be regulated by the Commodity Futures Trading Commission (CFTC) to operate in the country. Nadex is the only US-regulated binary options broker and is a safe platform.

Binary Options Brokers in Canada

Binary options are banned in Canada. Though the provincial financial regulators of the country were issuing warnings on binary options scams and platforms for years, the supra-national regulator, Canadian Securities Administrators (CSA), officially made advertisement, trading and distribution of binary options illegal in 2017.

Minimum Deposit Binary Options Brokers

Nadex is the only well-regulated binary options broker, and it has a minimum deposit requirement of $250. Though many offshore licensed binary options brokers are allowing much less initial deposits, we highly recommend traders not to open accounts with such entities.

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Forex Trading For Beginners PDF 2022

For this list, we have searched and tested several forex trading platforms offering services suitable for beginner traders.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best forex trading platforms for beginners based on our trading data and experience as a trader.

What is Forex Trading?

Forex trading means buying and selling foreign exchanges for the purpose of making profits. Though the trading industry was mostly focused on expert traders, many first-time traders are jumping into the field of trading.

Retail brokers offer currency pairs, which the traders can buy or sell to make profits in the process. There are two primary ways forex traders make money:

  • Taking profit from the change in the exchange rate
  • Making profits (or losses) from the interest rates differentials of two currencies

Beginners in Forex Trading?

But, forex trading is not easy. It takes years of experience to understand the markets and psychology of other traders. Traders need to have a deep understanding of the trading strategies as well.

Beginner traders have entered the trading market in recent years, and the trend is on the rise. But, If these traders indulge in trading without having proper knowledge, they will end up losing money in the markets.

In fact, the majority of retail traders lose money in trading, and many regulators have made it mandatory for the brokers to display the risk warnings mentioning the percentage of brokers losing money in trading.

For brokers, however, a growing number of beginner traders means more business. To retain this inexperienced client base, Brokers have started to offer many beginner-friendly services.

Some of the areas where the brokers are focusing more to attract beginner traders are:

  • User-friendly trading platform interface
  • Excellent educational material
  • Low trading fees
  • Transparent services
  • Excellent customer service
  • The offering of a demo account

Out of all the focused areas, educational resources offered by the brokers are the most important to getting beginner traders started. Forex brokers have now started to offer detailed education for both beginner and advanced levels to traders with:

Newbie traders also need to master the craft of trading, so the offering of a demo account has also become normal, see best demo accounts apps.  

Learn forex trading pdf

PDFs (Portable Document Formats) are one of the most popular document types used for learning forex trading. PDFs are widely used and compatible with every operating system since they are not restricted to specific software.

Many forex brokers offer PDFs as one of the options of educational resources. Some of the most popular trading topics for PDFs are:

  • Forex Trading Tips for Beginners Who Want to Earn PDF
  • Forex Leverage for Beginners PDF
  • Advanced Forex Trading Strategies PDF
  • Trading Forex on MT4 and MT5 PDF

Here are the pros and cons of PDFs:

ProsCons
πŸ” SecureπŸ“ Unable to Edit
πŸ’½ PortableπŸ“ Layout Limit
πŸ“– Easy to ReadπŸ“Š Not Suitable for SEO
πŸ“š Small File SizeπŸ–ΌοΈ Poor Photo Quality

Best Brokers Forex for beginners PDF

To select the Best forex broker for Beginners with PDF materials and trading platforms suitable for beginners, we tested and reviewed several forex brokers. We opened live accounts and deposited real money with each broker and check the education conditions of Trading PDFs.

  • XM β€“ Best Platform CFD trading for beginners pdf
  • RoboMarkets – Best MT5 Forex trading pdf Broker
  • Capital.com – Best Forex Trading Guide for Beginners PDF
  • CMC Markets – Best Demo Account for Forex Trading

Best Platform CFD trading for beginners pdf

We have picked XM as the best forex broker for beginners with edycation PDFs for CFD Trading.

XM is one of the best brokers for beginners to start with for both trading and other additional services. It is a well-regulated broker and is licensed in the UK, Cyprus, Australia, UAE and Belize. The offerings of the broker include forex and CFDs of indices, stocks and commodities.

When it comes to educational resources, XM’s offerings are excellent. It offers in-depth guides and video tutorials on financial markets and trading strategies. The broker also conducts around 40 webinars each week in different languages for its client base around the globe.

XM offers trading services on MT4 and MT5 and also provides a demo account.

Best MT5 Forex Trading pdf Broker

We have picked RoboMarkets as the best tutorials on forex trading MT5 Broker.

RoboMarkets (also RoboForex) is one of the few brokers that offers an excellent library of PDF and video tutorials covering the forex markets and trading techniques. It offers services on three platforms: MT4, MT5 and R Trader.

Though initially known for offering trading services with currency pairs, the platform was rebranded to RoboMarkets after the addition of other markets like indices, stocks, and commodities.

Best Forex Trading Guide for Beginners PDF

We have picked Capital.com as the best guide on forex trading .

Text-based guides are still favorites of many learners and Capital.com offers the best such guides for learning forex and CFDs trading. The broker offers separate guides for each market – forex, CFDs, spread betting, and others – and covers topics from very basics to the most advanced levels. It also provides in-depth guides on the trading strategies and market psychology, also has a glossary page to make the newbies understand the market lingo.

Capital.com is also excellent when it comes to offering trading services. It lists around 3,720 instruments of forex, indices, stocks, commodities and cryptocurrencies, and is regulated in the UK, Cyprus and Belarus.

Best Forex Trading Demo Account Beginner

We have picked CMC Markets as the best demo account for forex trading and PDF education resources.

The demo account has become necessary not only for beginner traders but also for exerts. While beginners can brush up their trading skills without risking real money, experts use these accounts to test new strategies.

Though almost all the brokers offer demo accounts, we picked CMC Markets mostly because of its wide range of trading services offering. CMC lists more than 10,000 financial instruments covering markets like forex, indices, stocks, commodities and cryptocurrencies. The broker offers two trading platforms MT4 and proprietary Next Generation Platform.

On its demo account, CMC allows paper trading on CFDs markets with Β£10,000 of virtual funds. Traders can analyze the markets using indicators on live charts and execute trades without risking any real money.

Forex Trading Platform for Beginners List

Apart from the shortlisted brokers, here is a complete list of forex brokers that offers excellent services to beginners along with PDF books and materials, which we have tested and reviewed.

Forex BrokerTest DetailsBroker Review
FxPro
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)Deposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
FortradeDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on Forex Trading Basics PDF

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to forex trading for beginners and traders looking where to learn forex trading pdf.

Top Beginner Forex Brokers in the UK

Demand for retail forex trading has jumped in recent years, and this prompted many beginners to jump into the trading markets. Some of the top Financial Conduct Authority-regulated forex brokers in the UK suitable for beginner traders and good edudcation PDFs are:

  • IG Markets
  • CMC Markets
  • XM

Top Beginner Forex Brokers in the US with free PDF education

Forex brokers in the USA must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA). Some of the US-regulated forex brokers that offer suitable services for beginner traders are:

  • Forex.com
  • TD Ameritrade
  • IG (US)

Forex Trading in Kenya for Beginners PDF

In order to operate in Kenya, forex brokers must be registered and authorised by Capital Markets Authority (CMA). Here are some of the forex brokers regulated in Kenya offering quality educational resources:

  • FXTM
  • FXPesa
  • Pepperstone

Forex Trading for Beginners PDF South Africa

Forex brokers have to be registered and licensed by Financial Sector Conduct Authority (FSCA) in order to operate in South Africa. Here are some of the forex brokers operating in South Africa and offering suitable PDF learning materials:

  • AvaTrade
  • FXPro
  • IG
  • Tickmill

MT4 Forex Trading PDF Brokers

As MT4 is the most popular platform to trade forex, many beginner traders being their trading journey with this trading platform. Though the platform is a bit outdated and made for professionals, brokers are customizing it to offer services to beginners. Some of the good MT4 forex brokers for beginners also with PDFs for MT4 are:

  • XM
  • CMC Markets
  • AvaTrade

Best Forex Trading App for Beginners

Mobile trading has become a thing now, and many brokers are offering excellent trading services on mobile devices. Some of the excellent forex trading apps offered by the brokers which are useful to beginners are:

  • IG Markets
  • CMC Markets
  • eToro

Copy Trading for Beginners

Forex copy trading services are very popular among beginner traders as they can earn profits while still learning about the forex market. Some of the good copy trading apps for beginner traders are:

  • eToro
  • Naga Trader
  • ZuluTrade
  • Darwinex
Categories
Uncategorized

4 Best Day Trading Platforms 2022

For this list, we have searched and tested several day trading platforms.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best day trading platform based on our trading data and experience as a trader.

What is Day Trading?

Day trading is the strategy that requires traders to buy and sell financial instruments within a day. Traders do not take delivery of the assets as the trades are closed within a single trading day.

Day trading is popular because of a few things:

  • Leverage trading
  • Short-term trading strategies

Day traders can make large profits with small capitals using trading strategies depending on the small price movements of the markets. Traders can use a small initial margin and receive leverages from brokers to take big positions on the markets.

Traders usually day trade on the foreign exchange (forex) and equities markets, where there is enough liquidity to close the trades quickly. However, short-duration trading is becoming popular in other markets like cryptocurrencies.

Some of the popular strategies used in day trading are:

πŸ“ˆScalpingOpen and closing of positions at a small time-frame
πŸ“‰Swing tradingTraders are kept open for one day or more, but not for too long
πŸ“ŠRange tradingTrading with the price movement of assets within a price range
πŸ–₯ArbitrageMaking profits from price game of the same asset in different markets
πŸ’»High-frequency tradingOpening and closing trades within a fraction of seconds using computer algorithms

Day traders use a ton of other strategies, but the crux is the trades need to be closed before the closing of the market. 

Day traders are usually experts in their field. Though day trade is rewarding, it is risky as the positions can be liquidated on heavily leveraged positions if the market moves in the other direction.

Best Day Trading Platforms

To select the best day trading platforms, we tested and reviewed several forex brokers. We opened live accounts and deposited real money with each broker. We also placed real trades in popular markets to get the real picture of the fees, trading platform, deposits and withdrawals conditions, education, and customer service.

  • XTB – Best Day Trading Platform Overall
  • Robinhood – Best Day Trading Platform for Beginners
  • TradeStation – Best Day Trading Platform for Experts
  • Forex.com – Best Forex Day Trading Platform

Best Day Trading Platform Overall

We have picked XTB as the best day trading platform overall.

XTB is a market-leading platform for day trading. Its award-winning xStation 5 proprietary platform offers an excellent trading environment available both on desktop, web, and mobile as well.

When it comes to trading instruments, the platform is a one-stop-shop offering over 4,000 tradable instruments in forex, cryptocurrencies, indices, commodities, stocks and ETFs. It provides a wide range of analytical tools right in your pocket.

XTB’s fees are built into spreads and are mainly aligned with the industry average. XTB also offers MT4 in selected countries which is considered a market standard. Overall, XTB is best for its well-designed platforms packed with many innovative features and eye-catching customer support. The broker’s comprehensive educational materials and research tools enable both novice and experienced traders to hone their skills and improve their trading experience.

Best Day Trading Platform for Beginners

We have picked Robinhood as the best day trading platform for beginners.

Robinhood has tapped into a new bread of traders with its services: amateur traders. The platform is completely mobile-based and has a user-friendly interface.

Robinhood revolutionized the trading space with its zero-commission model, which also garnered a fair share of controversies. The platform offers trading services with US equities, options, gold and cryptocurrencies.

The brokerage platform is very popular among newbie investors but did not receive much attention from experts. No doubt the platform aces with its usability and low fees, but when it lacks good support for market data, which is a must for experts. The quotes on the platform are a bit delayed and it does not offer many market research tools.

Best Day Trading Platform for Experts

We have picked TradeStation as the best day trading platform for experts.

TradeStation is an excellent platform when it comes to experienced and active traders. It provides high-quality market data for research with fast execution speed. Additionally, the platform is known to be very stable with very little downtime.

TradeStation offers trading with a wide range of assets: stocks, ETFs, options, futures, cryptocurrencies, mutual funds and bonds. It provides excellent indicators and charting tools to its clienteles for research, along with advanced order types and algorithms.

However, the platform can be tough to navigate for beginners. There is a steep learning curve with TradeStation and the multiple pricing choices can also confuse amateur traders. Overall, it is a great platform for professionals, but not for beginners.

Best Forex DayTrading Platform

We have picked Forex.com as the best forex day trading platform for experts.

When it comes to trade currency pairs, Forex.com is the best platform. It is a part of GAIN Capital Holdings that is now owned by the StoneX Group.

Forex.com is authorized by the CFTC and NFA in the United States. The platform also holds other overseas regulatory licenses and has operates across the globe.

The platform lists 91 currency pairs and offers excellent indicators and charting tools. In addition to forex, the broker offers trading services with equities, commodities, indices, bonds, ETFs, industry sectors, cryptocurrencies, and commodities. The execution rate on the platform is also fast, and high-volume traders can also earn rebates on their trades.

Best Broker for Day Trading List

Apart from the shortlisted platforms, here is a complete list of brokers, which we have tested and reviewed.

Forex BrokerTest DetailsBroker Review
FxPro
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)Deposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
FortradeDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on Day Trading Platforms

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to day trading platforms.

Best Trading Platform for Beginners

Many beginner traders are jumping into day trading lately. Though looks profitable, day trading is risky and traders need to educate themselves about the markets and trading techniques. Some of the best day trading platforms for beginners are:

  • Robinhood
  • TD Ameritrade
  • Interactive Brokers

Stocks Day Trading Platforms

Day trading in the stocks has always remained popular due to the liquidity in the equities markets and the volatility triggered by company activities: let its results, merger and acquisitions, or big management moves. Some of the best stocks day trading platforms are:

  • TD Ameritrade
  • Charles Schwab
  • E*Trade

Options Day Trading Platforms

Trading options are popular among day traders because of their high prospects of profitability. It is one of the preferred financial instruments as traders can hold on to them more than a single trading day. Some of the best options trading platforms are:

  • Fidelity Investments
  • TradeStation
  • E*Trade

Cryptocurrency Day Trading Platforms

Trading cryptocurrencies have become very popular in the past few years mostly due to the volatility in the markets. Demand in the market also generates enough liquidity to find near instant buyers or sellers. Some of the popular regulated trading platforms for day trading with cryptocurrencies are:

  • Coinbase
  • TradeStation
  • Kraken
  • Gemini

Day Trading Platforms with Low Fees

Brokers charged high fees on day trading for years, but the trend has changed. Many disruptive brokers are now offering day trading services without any commissions. Some of the cheapest day trading platforms are:

  • Robinhood
  • Webull
  • Firstrade

Best Day Trading Platforms UK

Day trading is popular around the world, including in the United Kingdom. The Financial Conduct Authority regulates the brokers offering any type of financial services in the country. Some of the best day trading platform for beginners UK are:

  • Interactive Brokers
  • IG Markets
  • Saxo Markets

Day Trading Platforms in India

India is an emerging market, and demand for day trading is aggressively growing in the country. It also hosts one of the top ten stock exchanges in terms of market capitalization. Some of the Indian day trading platforms are:

  • Zerodha
  • Upstox
  • ICICI Securities
Categories
Uncategorized

Best Cent Account Forex Brokers Offering 2022

To come up with this list, we have searched and tested several Cent Account Forex brokers offerings.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. In order to get the real spreads, we placed real trades in each popular market.

To solve the issues we have encountered, we also reached out to customer support. At last, we withdrew our funds to check for any possible problems with the withdrawal process.

Based on our trading data and experience as a trader, we handpicked the best forex brokers with cent accounts.

What is a Cent Account in Forex?

A cent forex account calculates and maintains the balance in the lowest fungible form of a currency, like USD cent or GBP penny. These accounts also allow trading with a much smaller lot size of the currency pairs.

Cent accounts are popular among novice traders who do not want to risk a lot of money in trading. However, these account types are also preferred by expert traders who just want to test new trading strategies.

Micro Account vs Cent Account

The difference is the nominal amount for Cent Account displayed in Cents instead of Dollars and Trading size caunted in Micro Lots for Micro Account.

Best Cent Account Forex Brokers

To select the best regulated forex brokers with Cent Account, we have tested and reviewed several forex brokers. We opened a live account, deposited real money, and placed real trades with each broker. With our test, we got a picture of the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and customer services.

  • RoboMarkets (RoboForex) – Best Overall Forex Broker
  • XM β€“ Best Forex Broker for Beginners
  • HotForex β€“ Best MT4 Forex Broker
  • FXTM β€“ Best Forex Trading Platform in Switzerland
  • FBS β€“ Best Forex Broker with Lowest Spread

Overall Best Cent Account Forex Brokers

We have picked RoboMarkets (RoboForex) as the best overall cent account forex brokers.

RoboMarkets (also known as RoboForex) is regulated in Cyprus, Belarus, and Belize. It offers trading with forex, indices, stocks, and commodities, and lists around 107 instruments. It offers trading on two industry-leading platforms, MT4 and MT5, and on proprietary R Trader.

RoboMarkets is one of the few brokers that offer a dedicated cent trading account. It has a minimum deposit requirement of $100. Additionally, traders with Islamic beliefs can open swap-free cent accounts with the broker.

Best Cent Account Broker for Beginners

As the best cent account broker for beginners we have picked XM.

When it comes to the best cent accountt forex broker for beginners, we should speak about XM. It stands out for the resources of self-education on both the forex market operations and trading strategies. The broker is well-regulated. It holds licenses in the UK, Cyprus, Australia, UAE, and Belize.

XM offers trading with more than 1,300 instruments, such as currency pairs, stocks, indices, and commodities. The broker also offers negative balance protection on all its account types.

Best Leverage for Cent Account Broker

We have picked HotForex as the best high leverage cent account forex broker.

HotForex is one of the few reputed brokerages that offer a cent account, along with high leverage. The broker offers maximum leverage of 1000:1 on major currency pairs and provides trading with forex and CFDs. It also gives direct market access for stock trading.

Best MT4 Cent Account Brokers

We have picked FXTM as the best MT4 cent account forex broker.

The broker provides MT5 and FXTM Trader.

FXTM offers around 62 currency pairs, along with CFDs of indices, commodities, stocks, and cryptocurrencies. It also takes four fiats (USD, GBP, EUR, and NGN) as base currencies. It offers instant execution, and the maximum trading volume for a position is limited to a single standard lot.

FXTM is regulated in the UK, Cyprus, South Africa, and Mauritius.

Lowest Spread Cent Account Brokers

We have picked FBS as the best lowest spread cent account forex broker.

FBS definitely offers the best cent account when it comes to trading-related fees. Our testing finds that the spreads charged by the broker on EUR/USD pairs are about 1.13 pips, which is less than the industry average. Besides, the broker has minimum non-trading fees.

FBS’s services are also simple with two types of accounts: standard account and cent account. For the cent account, the required minimum deposit is $10. It does not charge any commission, and cent account traders are able to trade a maximum volume of up to 1,000 cent lots.

Cent Account Forex Brokers List

Here is a complete list of forex brokers that offer cent accounts, which we have tested and reviewed.

Forex BrokerAccount TypeVisit BrokerBroker Review
FXTMCent AccountDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
RoboMarkets (RoboForex)Cent AccountDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
FBSCent Account Deposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review

FAQ and More on Brokers Offering Cent Accounts

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to forex brokers offering cent accounts.

Cent Account Forex Brokers in Australia

Australia Cent Account Forex brokers should be licensed by ASIC to accept traders from Australia. Though most of the brokers do not promote themselves as cent account brokers, they usually offer such services for standard retail clients.

Forex Brokers with Cent Account in Malaysia

Forex brokers need to be licensed by the Financial Services Authority of Labuan (Labuan FSA) to operate in Malaysia, but well-regulated foreign brokers can also take Malaysian traders. Some of the forex brokers offering cent accounts in Malaysia are:

  • RoboMarkets (RoboForex)
  • FXTM
  • HotForex

Cent Account Forex Brokers in India

The Securities and Exchange Board of India (SEBI) controls Indian financial services players, yet forex brokers are comparatively loosely regulated in the country. Here is the list of some of the well-regulated forex brokers offering cent accounts in India:

  • FBS
  • XM
  • HotForex

MT4 Cent Account Forex Brokers

The most popular trading platform for trading forex and CFDs among retail and professional traders is MetaTrader4 or MT4. Some of the forex brokers that offer cent accounts on the MT4 platform are:

  • FBS
  • RoboMarkets (RoboForex)
  • XM
  • HotForex

High Leverage Cent Forex Brokers

Leverage is a crucial aspect in forex trading. Thus, brokers attract more traders when they offer higher leverage levels. Here is the list of cent account forex brokers offering high leverage:

  • FBS
  • XM
  • HotForex
Categories
Uncategorized

Best Lowest Spread Forex Brokers 2022

For this list, we have searched and tested several forex brokers offering lowest spreads across all markets.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best lowest spread forex brokers based on our trading data and experience as a trader.

What is a Spread in Forex Trading?

The difference between the bid and ask price of any financial instrument on a trading platform in Forex Trading is called the spread, or more specifically bid-ask spread. The middleman, usually the broker, will take the bid-ask spread as profit for facilitating trading by creating a marketplace.

The spread in forex trading depends on several factors:

  • Supply or float
  • Demand
  • Trading activity

As the brokerage business is becoming competitive day by day, brokers are trying to undercut each other by offering low spreads. Most of the brokers even offer attractive spreads and do not charge additional commission on trading to attract more clients.

How is Forex Spread Calculated?

The bid-ask spread in forex trading is the difference between the price at which the broker or market maker buys and sells a currency. The bid is the price at which the broker is willing to buy the base currency in exchange for the counter currency, while the ask price is at which the broker is willing to sell the base currency.

For example, a broker displays the bid-ask price of EUR/USD pair as $1.2000/1.2050. It means to initiate a buy trade, the trader has to pay an ask price of $1.2050. If the trader immediately wants to exit the trade, the broker will pay the bid price of $1.2000. The gap of $0.0050 is the spread.

Best Low Spread Forex Brokers

To select the best low spread forex brokers, we tested and reviewed several forex brokers. We opened live accounts and depositing real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

Best Overall Low Spread Forex Broker

We have picked CMC Markets as the best overall low spread forex broker.

CMC Markets is a reputed and heavily regulated broker. It is licensed in the UK, Germany, Australia, Singapore, New Zealand, Canada, and the UAE. Its offerings include forex and CFDs of stocks, commodities, indices, and cryptocurrencies. It also offers spread betting in the UK.

When it comes to spreads, CMC Markets aces with flying colors. According to our tests, the average spread on the EUR/USD pair on the broker is only 0.7 pips, much lower than the industry average of 1.6 pips. It remains consistently lower for other markets as well: 2 pips for FTSE 100, 1 pip for Apple CFDs, and 3 pips for gold. All of them are lower than the industry averages.

Best Low Spread Forex Broker for Beginners

We have picked ActivTrades as the best low spread forex broker for beginners.

ActivTrades is a London-headquartered broker and is regulated in the UK, Bahamas, and Luxembourg. It is one of the best choices for beginner traders due to the wide library of educational resources. It has the best trading platform for beginners, as the most unique service is the one-to-one lessons provided to new traders. It also hosts webinars and in-person seminars on trading topics. Beginner traders can even test their trading skills on the demo account.

As for the spreads, ActivTrades spreads are either lower or around the industry average. The average spread on the most common EUR/USD pair is only 0.57 pips, while Apple CFDs and gold are 1.17 and 3.57, respectively.

Best High Leverage Low Spread Forex Broker

We have picked Dukascopy as the best high leverage low spread forex broker.

Many offshore brokers offer high leverages, but Dukascopy is one of the well-regulated ones in this space. With its Swiss FINMA license, Dukascopy offers leverage of up to 100:1 on major currency pairs. The broker is also regulated in Japan and Latvia.

Dukascopy also offers attractive spreads: the average for the EUR/USD stands at 0.8 pips, while for Apple CFDs and gold it is at 1.97 pips and 3.48 pips, respectively. The broker offers trading services with forex and CFDs of other asset classes.

Best MT4 Low Spread Forex Broker

We have picked Admiral Markets as the best MT4 low spread forex broker.

Admiral Markets offers trading services on MetaTrader 4 and MetaTrader 5 platforms, the former being the popular one. It offers a ton of useful indicators and charging tools on the trading platforms, helping the traders to analyze the markets.

The Estonia-headquartered broker offers some of the lowest spreads in the industry across all markets. Our tests found that the average spread on the EUR/USD pair was only 0.6 pips. It was 0.8 pips for both FTSE 100 and Apple CFDs. Gold spread is also below the industry average at 29 pips.

Admiral Markets is regulated in the UK, Cyprus, Australia, and Estonia, offering trading with forex, indices, stocks, commodities, and cryptocurrencies.

Best Low Spread Forex Trading Platform

We have picked Capital.com as the best low spread forex trading platform.

Capital.com is one of the top platforms when it comes to forex trading. It lists a total of 138 currency pairs, along with CFDs of indices, stocks, commodities, and cryptocurrencies. It offers trading services on industry-leading MT4 platforms and has no limitations on strategies, meaning both hedging and scaling are allowed.

Based in London, the broker also offers attractive forex spreads: the EUR/USD pair averaged at 0.8 pips on our tests.

Lowest Average Spread Forex Brokers List

Here is a complete list of forex brokers and the spreads charged by them on various markets, which we have tested and reviewed.

Forex BrokerSpread on EUR/USDSpread on FTSE 100Spread on Apple CFDsSpread on GoldTest DetailsBroker Review
FxPro1.61.70.63.1
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral Markets0.60.80.82.9Deposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull Markets1.231.040.42.37Deposit Amount: Over €4,000
Total Trade: 12 trades
Visit BlackBull Markets
GO Markets1.0242.43Deposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTrades0.572.981.173.57Deposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XM1.61.51.353.5Deposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTM1.95.11.574.5Deposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM Capital1.40.90.623.33Deposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
Tickmill1.6313.8Deposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comYesNoDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTB0.81.48.33.12Deposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)1.680.830.73.12Deposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
Pepperstone1.1510.851.58Deposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBS1.1314.6Deposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFX0.670.833.72Deposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
Darwinex0.320.702.171.33Deposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC Markets11.11.52.2Deposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarkets1.30.733.93Deposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP Markets1.21.32.33.9Deposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana Capital1.431.80.424.35Deposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTrade0.871.172.13.67Deposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC Markets0.7213Deposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FX1.150.881.172.42Deposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOX1.212.2Deposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)1.21.12.8Deposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
Plus5000.821.94Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToro0.971.42.234.5Deposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 2121.372.471.77.47Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
Fortrade1.832.272.64.5Deposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on Low Spread Forex Brokers

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to low spread forex brokers.

Low Spread Forex Brokers in the UK

Many UK-based forex brokers are offering low spreads to traders. These are FCA regulated forex brokers. It is one of the most reputed financial market regulators. Some of the UK-based low spread forex brokers are:

  • Capital.com
  • Markets.com
  • Plus500
  • ActivTrades 

Low Spread Forex Brokers in Singapore

The Monetary Authority of Singapore (MAS) regulates all forex brokers operating in the country. Some of the low spread forex brokers operating in Singapore are:

  • Plus500
  • OANDA
  • CMC Markets

Low Spread Forex Brokers in the US

The forex industry is heavily regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Due to very strict guidelines, only a few forex brokers are offering services in the country. Some of the US forex brokers offering low spreads are:

  • OANDA
  • TD Ameritrade
  • Forex.com

Lowest Forex Spread Currency Pairs Brokers for EUR/USD

Spreads have decreased heavily over the past few years among Forex Trading Brokers. Some of top lowest spread forex brokers for trading currency pairs, based on our tests, are:

  • ActivTrades
  • Admiral Markets
  • GKFX

Low Spread Brokers for Indices

The top forex brokers with the lowest spreads for trading indices (based on our real-world tests) are:

  • ThinkMarkets
  • Admiral Markets
  • GKFX
  • RoboMarkets

Low Spread Brokers for Share CFDs

The top three lowest spread brokers for trading share CFDs, which we have tested and reviewed, are:

  • BlackBull Markets
  • Amana Capital
  • FxPro

Low Spread Brokers for Crypto

Crypto CFDs trading has also become popular as digital currency prices remain too volatile. Some of the top brokers offering crypto CFDs and also charging low spreads are:

  • AxiTrader
  • Vantage FX
  • ThinkMarkets

MT4 Low Spread Forex Brokers

MetaTrader4 or MT4 is the most popular trading platform for trading forex and CFDs, both among retail and professional traders. The top MT4 forex brokers with the lowest spreads are:

  • CMC Markets
  • ActivTrades
  • Markets.com

High Leverage Low Spread Forex Brokers

Though many offshore forex brokers are offing high leverage levels, only a few well-regulated ones are offering the same. Some of the best well-regulated high leverage forex brokers that offer the lowest spreads are:

  • Dukascopy
  • BlackBull Markets
  • CMC Markets