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Home Finance 5 Best Forex Brokers for 2021
Finance

5 Best Forex Brokers for 2021

by wrich
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Overview

The forex market is the largest and most liquid financial market in the world that offers retail forex trades a plethora of trading opportunities. To harness these opportunities, forex traders must employ the services of a forex broker, which could be a tedious task because of the sheer amount of forex brokers available.

To make it easier for forex traders, we have compiled a list of the 5 best forex brokers for 2021, offering some of the best trading conditions and innovative trading solutions.

 

HotForex

HotForex is a well-regulated broker and a recommended choice because of its low and competitive trading and non-trading fees. HotForex offers its traders guaranteed client funds, a choice in trading accounts, and the use of powerful trading platforms.

HotForex is an ideal option for both novice traders and professional investors, offering dedicated customer service, and a low minimum deposit requirement, which means that forex traders can open a retail investment account with small amounts of capital.

HotForex offers a variety of financial instruments spread across forex, including major pairs, minor pairs, and exotics, commodities, indices, stocks, and several others. Details of HotForex and Services

 

PROS CONS
Well-regulated US clients are not accepted
Tight and competitive spreads on EUR/USD  
Low minimum deposit  
Variety of currency markets and CFD trading  

 

FXTM

Established in 2011, FXTM is a popular and well-regulated broker that offers a wide range of tradable financial instruments spread across several asset classes. FXTM also offers convenient funding options and dedicated customer support.

FXTM offers competitive trading conditions and also offers a range of educational tools and several useful advanced trading tools including technical analysis, fundamental analysis, economic calendars, and several others.

 

PROS CONS
Well-regulated Inactivity fee charged
Competitive spreads  
Negative balance protection on retail accounts  
Advanced trading tools  

 

XM Group

XM is one of the best online brokers in the industry that offers traders a vast amount of trading options. Apart from demo accounts, XM is known to offer a variety of real money accounts with competitive trading conditions.

XM may not offer a proprietary platform but offers the use of the powerful MetaTrader trading platforms. XM has a low minimum deposit requirement, a wide range of complex instruments, and caters for traders of all trading experience. In addition to this, XM supports the use of a variety of trading strategies including heading and scalping.

 

PROS CONS
Well-regulated by several market regulators Fixed spreads not offered
Negative balance protection offered Inactivity fees charged
Secure payment methods US clients not accepted
Well-suited for beginner traders  
Offers sophisticated tools for advanced traders  

 

AvaTrade

AvaTrade is one of the most popular online brokers in the industry that offers a multi-asset platform, a wide range of tradable instruments, and some of the best trading conditions in the industry.

AvaTrade offers retail traders and professionals with dynamic account options and beginner traders can make use of extensive educational sources. When trading CFDs or forex, traders can use several desktop and mobile trading platforms.

 

PROS CONS
Well-regulation No US clients
Multiple awards won  
Tight spreads  
Powerful and flexible trading platforms  
Social trading supported  

 

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Exness

Exness is another popular option for retail traders, providing them with superior trading solutions and flexible trading platforms. Exness is known for its trading conditions, low minimum deposit and instant withdrawal methods.

 

PROS CONS
Well-regulated  Limited stock CFDs
Competitive spreads No US clients
Multi-currency accounts  
No withdrawal fees or deposit fees  
More than 100 currency pairs offered  

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