Forex Brokers Suitable for Long-Term Use
Today, there are more than enough online brokers to join. Each of them offers a specific range of features, but only some of them are eligible for long-term use. Finding a company that suits your needs is the most valuable thing you should focus on. Take a look at the list of the Forex brokers to find the best fit for you.
Interactive Brokers is a well-known online broker in the US trading and investing industry. To trade Forex with Interactive Brokers in North America, you need to have a status of an ECP, namely "An Eligible Contract Participant.” This is an individual or company with assets of more than $10 million. Generally, Interactive Brokers allow customers to trade a slew of financial assets, from stocks and options to futures and spot forex. What’s good is that the range of their services remains the same from one region to another. For instance, retail spot forex trading is not available to US-citizens, while CFDs are not available to traders from Canada and Hong Kong. Professional traders and competent investors searching for a complete multi-asset forex broker will enjoy using Interactive Brokers through a comprehensive platform and with competitive commissions.
Interactive Brokers feature low trading and non-trading commissions. In fact, this broker has some of the lowest forex fees on the Forex market. The account opening is fast, easy, and completely digital. Thus, you can apply a lot of options for deposit or withdrawal, while all of them are available for free.
IC Markets is an online broker that provides Forex traders and investors with access to the True ECN environment. Thanks to some of the most advanced trading terminals and high liquidity trading conditions, the company’s specialists can have a great experience in the Forex-industry. With the most profitable technological solutions integrated, IC Markets’ rating has increased considerably over the last decade. According to the customers’ testimonials, IC Markets has its main mission focused on the establishment of the most transparent trading environment for the private traders. Thus, there is a positive tendency owing to the fact that this company determined the significance and the need to stick to the code of rules and laws regulating the whole sector.
Safekeeping of the customers’ financial resources is based on the establishment of special stores in the banks of Australia - Westpac and National Australia Bank (NAB). According to the customers’ feedback, IC Markets confirm the fact that the customers’ finances are always used properly based on the initial purposes.
FxPro is a trustworthy Forex broker that considers all the interests of customers. FxPro is constantly involved in the development of new products, services and modernization of conditions that would encourage traders and investors to get even bigger profit. The broker utilizes advanced technologies and has already gained the liquidity aggregator Quotix within the scope of their corporate strategy. These days, the FxPro customer base makes up over 800 000 members. This online broker has a license issued by the Cyprus island regulator CySEC. Also, it is administered by the ESMA Company and the ICF Fund. At the same time, customers’ financial resources are kept on segregated accounts at the best financial institutions in the world. According to the multiple reviews left by the traders and investors, FxPro can be viewed as a trusted broker with an undeniably fair attitude to stock exchange.
TickMill is an international forex and CFD broker, regulated by the Financial Conduct Authority, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority of Seychelles. TickMill is quite safe because it is managed by the top-tier FCA. CFDs are mainly complex tools which aim to minimize the chances of losing money rapidly due to leverage. According to the official statistics issued by Forex, 73% of retail investor accounts have to face financial losses while trading CFDs with TickMill. Thus, you should pay attention to the fact that you understand and realize the specificity of CFDs’ work. Also, it is important to understand that you can afford to take the high risk of losing your financial resources.
In addition, TickMill has a great product portfolio where it provides only forex and CFDs. All trading platforms offered by this broker feature modern designs and easy navigation. Meanwhile, news feeds are basic and not organized.
The Bottom Line
All brokers mentioned in the given post can be considered a great choice. If you know the concept of Forex broker, you have great chances of succeeding in online trading and investing. Still have any doubts? Conduct thorough research before finding the best broker for you.