Forex trading has changed a lot in the past decade and so did the brokers serving the traders. The industry got much more developed in recent years thanks to better regulation, new technologies both in terms of hardware and software, and new solutions concerning social trading, managed accounts, automated trading, and other innovations.
The huge competition between brokers is great for customers as spreads are lower than ever, there are more products than ever, and cost and fees, in general, are much lower, even concerning online transfers.
As we discuss in our article about comparing brokers, choosing a broker is a complex process that requires quite a bit of time, but in the end, it makes a huge difference, so it is worth every second that you spend on it. We also stated that there is no such thing as the best broker as a lot of factors might differ in importance for every trader.
Still, we will recommend you some quality brokers to make your decision easier as we at FXUniversal think that some objective measures can be used to rate brokers. We will give our readers the opportunity to express their opinion about our selected firms in the comment section of our dedicated reviews on them.
But first let’s see how FXUniversal sees the Best Forex Brokers of this year!
What’s new in Forex trading?
In the past few years, additional services, strong competition, and global marketing campaigns dominated the industry. The new, and unregulated, binary options brokers together with last year’s Swiss Franc-related scandals put pressure on some companies, but as a trader, this is one of the best times to choose between brokers.
As the competition intensified brokers could choose to specialize in some segments of trading or try to target everyone. We believe that both approaches can be successful so we highlighted providers representing both types. You should decide for yourself what is important for you and for your strategies.
The best brokers if you are looking for…
If you want to follow, interact with, and learn from other traders, eToro (check out our review) is the company to choose, without a doubt. A whole platform is built upon the promise of social trading with great support for traders with small amounts of money.
If you are looking for the widest selection eToro is probably not your company but if you want to go social, go no further.
Unparalleled selection of products
Some brokers want to stand out of the pack by offering a wide range of tradable assets. Two great examples are easyMarkets (check out our review). Both companies offer hundreds of products in several asset classes besides forex. CFDs on indices, currencies, commodities… you name it—you can trade with almost anything, without needing a large amount of capital, as both Plus500 and easyMarkets offer high leverage and small sizes.
High leverage and great account choices even for U.S. citizens
Forex Broker Inc (check out our review) made it to our list even though it is an unregulated company. As such, it offers all the perks of a full-fledged forex broker to U.S. residents like leverage up to 500:1, mini lots and premium accounts, and free transfers.
Strong regulative background with comprehensive all around offering
The previous brokers were all specialized at least a little bit on one factor. There are those brokers that want to give you all, from social trading to proper regulation, automated trading, managed accounts, education, and a lot more. IronFx (check out our review) is probably the most complete package out there. Although they are not the best in any particular factor but you can find anything that the industry has to offer currently.
It’s just natural that a company like this offers its platforms in more than 25 languages and operates under 5 different regulations. There should be no problem for Asian, African, Australian, or European traders.
Targeting all traders with accounts from £100 to £100,000
AvaTrade (check out our review) is also an all-rounder with accounts geared towards beginners, intermediates, and pros with large amounts of capital. Avatrade offers virtually everything that you can think of like IronFx with a special emphasis on automated trading. It supports 17 languages with dedicated trading platforms for every OSs and devices with rich extras such as an Auto-charting software, managed accounts, personal account managers and widespread analysis resources.
Wrapping it up
As you can see there is no shortage of great providers on the market and choosing between these top companies comes down to personal preferences. We at FXUniversal believe that the best way to decide is to listen to the advice of your fellow traders.
So, once again we urge you to read the reviews of our top recommendations and be sure to check out the comments and share your own experience about the pros and cons of the brokers.
Thank you, and great trading for all!