7 Best Forex Brokers for 2021
You will find a list of the top Forex brokers handy when you plan to engage in Forex trading in 2021. Forex trading refers to the exchange of currencies, also called buying and selling currency pairs, according to the existing exchange rates obtained from the Forex market. To trade foreign currencies you should use a Forex broker who will help place your trades. So, you create an account, put in your money, and use the brokers trading platform for buying and selling currencies. When you choose the best Forex brokers, you must make sure they are credible with an easy-to-use platform, offer a wide range of educational materials, and access to superior market research. You can also buy shares from your phone, which makes your task much easier.
Top Forex brokers for 2021:
- Plus500: This broker is best suited for beginners in Forex trading and is a reliable brand with a global reputation, offering traders a user-friendly platform via a wide range of trade instruments. It does not offer too many educational resources but it is easy to use, making it perfect for the first-timer. Plus500 is traded publicly on the LSE and is regulated, making this a safe broker.
- EToro: This platform offers crypto trading and copy trading making it a hot favorite for traders in the coming year. EToro also offers a user-friendly site and app that even casual investors can use. This broker may be a tad costlier for trading CFDs and Forex regardless of the latest cutting spreads and its research materials are also quite limited compared to its competitors. If you have plans of investing in other coutnries, have a look at this information on the best brokers with NASDAQ South Africa to start your trade right away.
- AvaTrade: This is a brokerage of global repute that offers traders a wide range of options. It is best known for features like copy trading and investor education. AvaTrade offers platforms like Ava Options and AvaTrade Web Trader, Dupli Trade for copy trading and Zulu Trade, all of which make this broker a name to reckon with.
- Oanda: This brokerage offers both CFD and Forex traders with limited FX pairs and is far better known for its market research and its impeccable reputation. It has a platform suite called fxTrade which is user-friendly for newcomers. You will find educational resources in both video and text formats together with webinars. Oanda is also regulated and this makes it safe for CFD and Forex trading. Besides the high-rated fxTrade, Oanda also offers impressive algorithmic trading options.
- XTB: This is known for great educational materials and superior customer service. It is a reliable multi-asset broker that provides outstanding customer services and a satisfying trading experience. It offers extensive written and video content although webinars are limited. The xStation suite it offers has excellent use besides its offering of research materials, trading tools, and many advanced features.
- IG: IG has been a reliable name across the globe and offers Forex traders with a great package of research and trade tools, competitive pricing, industry-leading resources, and many tradable products. This is perhaps why this broker is likely to be the top overall broker; it is regulated in 6 Tier 1 jurisdictions and this is why trading on it is secure and low-risk.
- CMC Markets: It is one of the leading web trading platforms that offers impressive educational materials. You will find the latter in its written content, podcasts, video updates, and live webinars. Besides, this platform is trustworthy, fast, and loaded with advanced tools and features. It offers low-cost trading and is a secure platform being regulated in 4 Tier 1 jurisdictions. You can be sure of a satisfying user experience because of its huge variety of trading tools, mobile app, and comprehensive research.