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TOP BROKERS |
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Alpari Location: Russia / UK / US Online Since: 1998 Account Types: Micro / Classic Minimum Account Size: $200 Free Demo Account: Yes (unlimited) Spreads: 1.8+ Charts / Trading Platform: MetaTrader 4 |
dbFX |
Dukascopy Location: Switzerland Online Since: 2004 Account Types: Live / Managed Minimum Account Size: $50,000 Free Demo Account: Yes (14 days) Spreads: 0-2 pips for major currency pairs Charts / Trading Platform: Java / JForex / Web |
Forex.com (GAIN
Capital) Location: US Online Since: 1998 Account Types: Mini / Standard Minimum Account Size: $250 Free Demo Account: Yes (30 days) Spreads: 1.1+ for major currency pairs Charts / Trading Platform: MetaTrader 4 |
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CMS Forex Location: US Online Since: 1999 Account Types: Universal (trade mini and standard lots from same account) Minimum Account Size: $200 Free Demo Account: Yes Spreads: 2 pips for EUR/USD and USD/JPY pairs Charts / Trading Platform: VT Trader 2.0 |
FXCM Location: US Online Since: 1999 Account Types: Mini / Standard Minimum Account Size: $2000 Free Demo Account: Yes Spreads: Typical spreads between 2 and 4 pips for major currency pairs Charts / Trading Platform: MetaTrader 4. Also offers Micro account. |
FXDD Location: US Online Since: 2002 Account Types: Mini / Standard Minimum Account Size: $250 Free Demo Account: Yes (90 days) Spreads: 2 pips for EUR/USD pair Charts / Trading Platform: MetaTrader 4 / MTXtreme / FXDD Trader / FXDD Auto / Power Trader |
FXPro Location: Cyprus Online Since: 2008 Account Types: Standard / Premium Minimum Account Size: $500 Free Demo Account: Yes (unlimited) Spreads: 0.5+ for major currency pairs Charts / Trading Platform: MetaTrader 4 |
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GFT Forex Location: US / Worldwide Online Since: 2001 Account Types: Mini / Standard / Silver / Gold / Platinum Minimum Account Size: $250 Free Demo Account: Yes Spreads: 3-4 pips for major currency pairs Charts / Trading Platform: DealBook 360 |
Interactive Brokers Location: US Online Since: 1998 Account Types: Universal Minimum Account Size: $3000+ (depending on the type of account) Free Demo Account: No Spreads: 1 pip for EUR/USD pair Charts / Trading Platform: Trader Workstation |
Interbank FX Location: US Online Since: 2001 Account Types: Mini / Standard Minimum Account Size: No minimum Free Demo Account: Yes (30 days) Spreads: 2 pips for EUR/USD pair Charts / Trading Platform: MetaTrader 4 |
MB Trading Location: US Online Since: 2002 Account Types: Standard Minimum Account Size: $400 Free Demo Account: Yes Spreads: 0.1-1 pip for major currency pairs Charts / Trading Platform: MetaTrader 4 |
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MIG Bank Location: Switzerland Online Since: 2003 Account Types: Standard / Professional / Institutional Minimum Account Size: $2000 Free Demo Account: Yes (90 days) Spreads: 2-3 pips for major currency pairs Charts / Trading Platform: MetaTrader 4 |
Oanda Location: Canada Online Since: 2001 Account Types: Standard Minimum Account Size: No minimum Free Demo Account: Yes (unlimited) Spreads: 0.9 for EUR/USD pair Charts / Trading Platform: FXTrade platform |
ODL Securities Location: UK Online Since: 2004 Account Types: Standard (can trade from $1 per point upwards) Minimum Account Size: $2000 Free Demo Account: Yes Spreads: 2-3 pips for major currency pairs Charts / Trading Platform: MetaTrader 4 (and other platforms for professional traders) |
Saxo Bank Location: Denmark Online Since: 1999 Account Types: Saxo MiniTrader / Saxo Trader Minimum Account Size: $2000 Free Demo Account: Yes (20 days) Spreads: 2-3 pips for major currency pairs Charts / Trading Platform: SaxoTrader |
Leverage
Leverage can be your best friend until it turns to your worst enemy! Surely to maximize your potential earnings, a broker with 200:1 leverage is the ideal option. In case you prefer higher leverage 400:1, do not forget that it may be a trap that is ready to eat up all your money. With 200:1 leverage a loss is just a mistake, but with 400:1 leverage the same loss is a suicide.
How to Find A Broker
If you are looking for the best broker, we suggest you to contact the National Futures Association. NFA monitors brokerage firms and brokers in the currencies market. It is a voluntary organization, but holds its members to very high standards, has a complaint and disciplinary procedure, and oversees the actions of its members. It is one of the best sources of information on a brokerage firm.