MetaTrader 4 is a Forex trading platform with millions of traders using it on a daily basis. It is currently the most popular platform on the market. However, choosing MT4 as your platform is not enough by itself – you need to find a suitable and reliable broker, for the actual hands on execution of your trades.
To make the best choice, you need to do an extensive research on features you actually look for and the overall quality. You can do this by reading reviews, comparing features and safety, as well as talking to representatives and customer support to ensure quality. Once you’ve found the place to start your research it’s time to keep the following focus points in mind.
What to Look For
Choosing the best Forex broker for yourself, you will have your own preferences. However, there are some general important aspects you need to look out for. Primarily, this means safety. It is best to go with nationally and internationally regulated brokers, with various deposit methods and fast payouts.
You also need to look at the different accounts types that are offered, where the best brokers offer multiple types such as demo, standard, and VIP accounts. The next element is the actual offer, where you need to find good quotes, narrow spreads, and suitable leverage. The best brokers will find a way to address all your needs and requirements.
What to Choose and Why
It’s always recommended to do your own research. We will pick and have a closer look at several top broker companies and explain why people choose them!
InstaForex broker company is a part of a group of financial and investment companies, focusing on online trading services. With a huge customer base, InstaForex has access to different markets with financial instruments allowing individuals and institutions to invest.
With over 250 representative offices all over the World, the company has won various prestigious awards showing its consistency in quality. InstaForex have great customer support with experienced professionals providing high quality service.
Why People Choose InstaForex
InstaForex is a preferred option for many traders for features such as:
- Segregated accounts providing safety,
- Quality of service and customer support,
- Genuine Forex analytics,
- Fixed spreads and trading without spreads,
- Range of leverage from 1:1 to 1:1000,
- Cent accounts and Swap-free accounts.
FXCM was founded in 1999 and since then the company has become a global leader in Forex trading. While they have offices across Europe and Asia, as well as affiliate offices around the World, FXCM was the first Forex broker to list on the New York Stock Exchange. The company is part of the 500 fastest growing American companies list which further proves its prominent position and quality.
Why People Choose FXCM
FXCM offers a lot of premium features to their customers at lower costs, and we will list only some of them:
- It’s registered with the NFA and CFTC,
- Major and exotic currency pairs in offer,
- Mobile trading,
- Automated and EA trading,
- Great customer support 24/7,
- And basic micro account with a minimum deposit of only $50.
FxPro is one of the newer and fresh leading Forex companies, established in 2006. They are very stable and reliable, operating under Cyprus Authority and with representative offices in four big sales centers. The company has won multiple awards and is well-known for the traits they offer.
Why People Choose FxPro
While accounts start from $500 deposits, the deposit options are various, including all the most popular options. The company is regulated and many traders consider their funds very safe with the company. Other features include:
- 9 different platforms for traders to use,
- Fast and easy payouts,
- Tight spreads,
- And no dealing desk intervention.
ETX Capital is a UK based financial company founded in 2002, and regulated by The Financial Conduct Authority in UK. The company is widely trusted for transparency and safety, as well as a general service.
Why people choose ETX Capital
- FCA Regulation which requires maximum effort safeguarding clients funds
- No deposit and withdrawal fees over £100
- Tight spreads
- Variety of platforms and instruments to trade
What’s Best for You?
Ultimately, you have to do your research and decide what’s best for you. There are many proper options and your choices largely depend on your trading style. It’s important to understand the risks that come with Forex trading and to take advice from the experienced traders.
For one, never trade more than you can actually afford. To minimize the risks, it’s important to start slow – not trade too many currency pairs, trade high-liquidity currencies, and take short spreads. Choose the best broker for yourself, have a short market watch list,and make your investments right and withdrawals timely.