Why use Compare Forex Brokers before forex trading?
Trading CFDs successfully requires the best fx broker to suit your trading style. Compare Forex Brokers help you shortlist brokers by recommending the best forex broker based on factors including spreads, trading commission, leverage, reviews, customer support, range of markets and currency pairs.
View the top foreign exchange brokers for each country below, If you are looking for a forex trading platform then have a look at our best forex trading platform comparison.
Australian Forex Brokers
The Australian Securities and Investments Commission (ASIC) is the local regulator for CFD providers in Australia. You can view our best ASIC regulated forex brokers page which includes leading brokers from Pepperstone, IC Markets, Plus500 to AxiTrader. ASIC regulations mean brokers can’t claim they are an ECN broker but you will find brokers such as Pepperstone and IC Markets still offers tight spreads with ‘ECN pricing’ from 0.0 pips EUR/USD spreads.
ASIC places trading conditions on brokers such as the requirement to segregate client funds. There were also 2020 November ASIC updates requirements including reduced leverage from early 2021..
UK Forex Brokers
UK forex trading is regulated by the Financial Conduct Authority which has restricted leverage for retail forex traders to a maximum of 30:1. Other trading conditions include negative balance protection, segregation of client funds, reporting and training. You can view our best UK forex broker page for the best FCA regulated providers. Factors considered when making the short-list for this page include the forex trading platform offered (from MetaTrader 4 to cTrader), execution speeds and trading costs. Brokers considered ranging from eToro, forex.com to FxPro.
You can also view the UK forex broker section for a most comprehensive list of forex platforms, providers and even a list of ECN brokers. Spread betting is also a unique feature for UK traders with a specific section for this trading.
South African Forex Brokers
The FSCA (Financial Sector Conduct Authority) is the local regulator for the South African foreign exchange market. Trading conditions unique to the FSCA include the requirement for a provider to have a local presence. The best brokers in South Africa like FXTM often have high-risk trading accounts with leverage exceeding 500:1, straight-through processing (STP) with no dealing desk. You can view the best fx brokers in South Africa.
Traders can also view the South Africa forex broker section including providers with ZAR accounts. This section also looks at the best forex platforms with demo accounts for South African traders and social trading accounts.
Singapore Forex Brokers
Singapore is the third-largest foreign exchange market regulated by MAS (Monetary Authority Of Singapore). Online forex brokers in Singapore offer a range of financial markets, account types and offer a plethora of minimum deposits depending on the type of trader they want to attract. You can view the best MAS regulated forex brokers that offer to trade global currency markets.
There is also a Singapore fx broker section to explore trading in the region and other CFD types including Bitcoin and other cryptocurrencies. You can also see forex broker reviews on brokers such as FXCM and Interactive Brokers.
Forex Brokers Comparison Methodology Explained
Compare Forex Brokers was created by a team that has worked with the forex industry for several years. Our experienced individuals collected information based on different regulated ecn broker and their platforms such as MetaTrader websites. No scraping or automation is used to compare forex brokers to ensure the highest top forex broker comparisons are made. Feel free to let us know of your thoughts about the forex market or our comparison tables!
Along with our top forex broker comparison tables, you can also get information on trading forex markets, trading strategies, CFDs, forex courses and currency trading strategies.
So whether you’re a beginner looking to trade currencies for the first time or an experienced forex trader, you have come to the right place!
Understanding The Risks Of Forex Trading
Currency trading is a leveraged product which means that an fx broker will amplify your deposit up to 500 times. This leverage means there is a real possibility of losing your money so it’s important to understand the risks involved and consider options such a practice accounts.