Pluses and Minuses of the Forex Brokers

Pluses and Minuses of the Forex Brokers

Are you going to discuss the raise of the US Dollar (USD) currency against the Euro (EUR)? Then, you should consider trading the USD/EUR currency pair. Where can you do it? Today, Forex has become the most popular field for trading operations by covering all global currencies and many other assets for stock trades.

To succeed in Forex trading, you will need a reliable online broker that would provide you with a safe and convenient environment for trades. As a currency trader, you surely have some specific preferences and expectations related to online trades. Before you go any further, you will need to learn some pros and cons of popular Forex brokers. Even if you are not going to register on those websites, you can at least use them as examples of reliable options.

IC Markets

IC Markets

The International Capital or IC Markets was established in Sydney Australia. Currently, it is one of the most reliable ECN brokers providing traders with Forex, CFD and Equity services across the globe. IC Markets is administered by the Australian Securities and Investments Commission (ASIC), which keeps safety regulations under control. Thus, IC Markets is an excellent place to trade financial markets online. It is highly recommended for retail customers, brokers, companies, and fund managers, as well as hedge funds. With a committed customer support team, IC Markets aim to help clients deal with the most complicated technical issues and general inquiries.

Pros:

  • Access to a highly customer-oriented interface with which traders and investors can mix variable allocation methods with immediate reporting of results;
  • Wide range of trading mechanisms to choose from including Forex, commodities such as Oil, Spot Gold, Silver, Indices, etc.
  • Eligibility for scalpers and day traders;
  • Availability of a free Demo account for new traders to practice their trading skills and develop customized trading strategies devoid of any risks.

Cons:

  • No Islamic or Sharia Law compliant accounts.

FxPro

FxPro

FxPro can be named as a veteran financial expert that has been on the Forex market since 2006. Today, the broker is serving clients in more than 120 countries across the world. These include the offices in Austria, France, Spain, Switzerland, and the United Kingdom. The company belongs to the group of the ICF that is managed by CySEC. Also, all types of its accounts are audited by the international auditing company Price Waterhouse & Cooper. The customers’ trading responsibility is the focus of attention for FxPro. Its official homepage is filled out with interesting and useful information that is easy to navigate and engaging to use for trading routine. The trading website moves along rapidly by offering a wide range of real or demo accounts. Confirming any account is a multi-step process, which is quite fast. FxPro’s website is equipped with a quite extensive video library featuring insightful videos about basic trading strategies and recommendations. Generally, FxPro can be viewed as a reliable and credible broker. If you check independent reviews on the Internet, you will see how many clients are actually satisfied with this Forex broker after years of an online experience.

Pros:

  • Efficient customer service, incredibly high leverage, narrow spreads, and fast and simple transactions;
  • Proper regulation and maintenance of multiple types of trading platforms.
  • Availability of a free Demo account for new traders to practice their trading skills and develop customized trading strategies devoid of any risks.

Cons:

  • Relatively high minimum transaction size;
  • Poor design of the official homepage causing barriers for fast and simple navigaton.

WelTrade

WelTrade

Weltrade is an online Forex broker developed by its parent company, SystemGates Currently, the broker has offices in Russian Federation, Seychelles, Thailand, and Ukraine. Weltrade follows the standard platforms of MetaTrader4 and MetaTrader5, which are reliable instruments for trading operations. .Weltrade’s website reflects the broker’s business style and trading concept that is based on the simplicity of use. One of the major thrusts of Weltrade’s concept is to allow traders to find their own way on the Forex market without much external intrusion. When you open the broker’s homepage, you will see the continuous promotions as well as the latest news and education materials that traders can access for a personal benefit.

Pros:

  • 24/7 customer support known for its efficiency;
  • Availability of the most popular trading platforms;
  • Smooth trade processing;
  • Great number of specials and promotions all-year round;
  • Availability of a free Demo account for new traders.

Cons:

  • Website’s design needs cleaning up;
  • Extra charges for the use of VPS.