Best Forex Brokers

Most of the good brokers have a terms or trading conditions page on their website regarding their execution policy. You should check the broker’s execution policy, and look for terms like market execution, no re-quotes, real-time execution etc. Below Comparison Table Shows the Swap Fees comparison of EUR/USD & GBP/USD (both long & short) at major SA forex brokers. Another important point is that if you are a high volume trader, then the fees structure testimonials with ECN accounts will be more transparent & have lower trading costs for you. Before signing up with any forex broker, you should check the broker’s contract specification page as it normally has information on the broker’s spread. Like below is the screenshot from the XM’s forex spread overview page. For South African traders, every forex broker that we have listed here are compliant & licensed by 1 or more Government regulators i.e.

best forex broker

One of the most important factors you need to consider is the type of market execution the broker offers – market maker or ECN/STP. There are pros and cons for each type of execution so you should know the difference between Forex news the two types before you start trading on a certain platform. On the one hand, market maker brokers do not charge any fixed trading fees and ensure the trader always gets an execution regardless of the trading conditions.

Deposit And Withdrawal

Of all regulators, brokers delivering their services to US clients have a lot more rules to follow. From a business perspective, firms are required to have at least $20 million in operating capital. From my experience, the fastest-growing countries are in Africa and Asia.

Established in 2009, FBS is one of the most trusted STP and ECN forex brokers in the industry. FBS offers the trade of a vast number of instruments and offers both professional and beginner traders competitive trading conditions. The average spreads that traders can expect are competitive and in ideal market conditions, they start from as low as 0.0 pips.

Capital Com

The CFTC’s mission is to maintain a transparent and honest financial market by deterring fraudulent activities within the market, and preventing any form of market manipulation, and financial malpractices. Any brokers in defiance of these regulations will be met with direct actions to prevent any damage, or further damage to customers, including through heavy fines and sanctions. Nadex offers low fees and minimums, comprehensive educational material, and is fully regulated. Other fees include $25 per transaction for domestic and international, and no inactivity fee will be charged. Interactive Brokers should be a serious consideration for professional FX traders that need access to their account at all times.

  • Ideally, one should do a background check to see whether a broker is regulated in the U.S. or the U.K.
  • Usually, most brokers offer to permit the clients to try a ‘practice account or free demo account.’ This type of account allows the trader to get a fair idea about how the system works.
  • Interactive Brokers’ fees appear to be competitive overall, however, the company does not publish its average spread for forex which makes it difficult to pinpoint exactly.
  • A wire or bank transfer along with the ability to fund your account through a credit/debit card may not be enough.
  • The Forex market is the biggest financial market that is spread across the world.
  • Therefore, the spread for trading the EUR/USD forex currency pair is 0.9 pips.

The company is headquartered in the U.S and boasts strong regulatory licenses. You can also get your fix of education by registering for its weekly Foundations of Forex Trading webinar. also offers plenty of educational Forex videos, articles, and platform tutorials – and beginners can make use of a demo account to get acquainted with their platforms. A centralized and organized research section makes easy to use and navigate.