• December 27, 2022
• BrokerIdeas
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Forex Brokers 2023: which are best rated and why?

Finding which Forex broker is best rated and why can be confusing. With that said, I’ve listed Forex Brokers 2023, charted them based on popularity and level of trust with traders, analyzed their business model and what they offer, followed by a brief conclusion of who I believe is the best online Forex broker.

 

1. Plus500 – Best Overall Forex broker

Plus500 is the best overall forex broker, according to our research and testing.

Plus500 is a CFD broker that offers trading in over 1,000 currency pairs and indices. We really liked the variety of instruments available at Plus500, as well as the transparency of its fees.

Plus500 also offers an extensive range of technical analysis tools, including a price chart with multiple time frames and indicators, as well as an interactive candlestick chart with over 20 indicators. There are also options for automated trading.

If you’re looking for a simple way to get started with forex trading without having to spend a lot of time learning how it works, Plus500 is worth considering because it offers a wide selection of low-cost CFDs on major financial markets around the globe.

 

2. eToro – Best for Zero-fee stock and ETF trading

eToro is the best option for zero-fee stock and ETF trading.

It offers access to over 1,000 instruments, including stocks, commodities, forex pairs and indices. The platform is easy to use and new users can try out the service with a virtual account. There are also daily market analysis videos available on the platform, which can help traders improve their understanding of the market.

On top of this, eToro has a number of tools that make trading easier, including social trading features and the ability to copy other traders’ trades automatically. This makes it an ideal platform for those who want to learn how to trade but don’t have much money to invest at first.

 

3. AvaTrade – Low cost forex broker suitable for beginners

AvaTrade is a low-cost broker that’s suitable for new traders. It offers a wide range of forex pairs, CFDs and cryptocurrencies, and provides customers with access to real-time quotes and streaming charts.

The firm offers a demo account so you can try out the platform before trading live. It also has an education section where you can find useful videos and articles about how to trade forex, as well as an FAQ section where you can get answers to your most pressing questions. It also offers customer support around the clock in seven languages.

AvaTrade offers competitive spreads on all major currency pairs and a wide range of CFDs including commodities, stocks, indices, bonds and cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Litecoin (LTC) and Dash (DASH).

 

4. IG – Best CFD broker

The reason why IG is the best CFD broker is because of their great customer service and their user-friendly platform. A lot of people think that trading with a CFD broker is more difficult than with a forex broker, but IG has made it easy for users to create an account and start trading. They also have some of the lowest spreads and commission fees among all CFD brokers.

IG also offers many different types of assets so you can trade almost anything on their platform. They offer stocks, commodities and even options! You can even use their margin trading feature which allows you to trade with leverage on your positions. There are many other benefits that come along with using IG such as their mobile app which allows users to trade from anywhere in the world at any time!

 

5. FP Markets – Best forex & CFD broker for advanced traders

FP Markets is the best forex broker for advanced traders, with a high-quality trading platform and low commission rates. In addition to being one of the world’s top forex brokers, FP Markets has also been recognised as one of the best CFD brokers by leading comparison websites. If you’re looking to trade on currencies and/or commodities, you’ll want to consider using an online broker like FP Markets because it offers access to a wide range of markets that can help you grow your portfolio.

 

6. CMC Markets – Best currency spread rates

CMC Markets is the best rated forex broker because it has the best currency spread rates. The company has a high level of transparency and offers a number of trading platforms, including web-based and mobile apps.

The company also offers a wide range of assets, including forex, indices, commodities, stocks, bonds and options. It has been around for more than 20 years and is regulated by the Financial Conduct Authority (FCA).

It also offers market research tools and news feeds to help investors make informed decisions about their investments.

 

7. XTB – Best for copy trading

XTB is the best Forex broker for copy trading in our opinion. They have an intuitive interface and a wide range of trading tools, including multi-tier levels of control over your account. They also offer a number of products, such as currency pairs, indices and commodities, which allow you to trade virtually anything on the market.

Their main strength is copy trading. This allows you to automatically follow the trading strategies of other traders who have proven themselves successful in the past. This can help you save time by not having to spend hours researching new strategies yourself and testing them out before starting with real money.

 

8. Forex.com – Great global platform choice

Forex.com is a great choice for traders who are looking for a global platform that offers forex, CFDs and stocks.

The company has been around since 1999 and has an impressive track record of growth, with over 1 million customers worldwide. It offers a range of different trading platforms including MetaTrader 4, cTrader, WebTrader and Mobile Trader. There are also several different account types to choose from including Micro, Mini, Standard, Professional and Premium.

Overall, Forex.com is one of the best rated brokers on the market today because it offers great customer service, low spreads and competitive pricing.

 

9. Swissquote Bank – Best for banking and research

Swissquote Bank is a global bank based in Geneva, Switzerland. It was founded in 1999 with the goal of providing clients with a complete financial solution. This includes investment advice and portfolio management, online trading platforms and cryptocurrencies, banking services, insurance and more.

Swissquote Bank offers several different platforms to help you trade currencies online. They include:

• Webtrader – A web-based platform that allows traders to trade multiple currencies on a single screen. It also has an intuitive interface that makes it easy to use and offers advanced features like automated trading strategies, ability to set stop losses and profit targets, as well as access to integrated charting tools.

• Mobile Trader – A mobile application for iOS devices that offers all the features of Webtrader including access to real-time streaming quotes from over 30 global markets around the world at any time from anywhere in the world. It also includes an option for users who don’t have accounts at Swissquote Bank yet but want to try out some of its features before deciding whether or not they want one.

 

10. Hotforex – Best forex broker for copy trading

Hotforex is a forex trading broker that was established in 2006. The company is based in the United Kingdom, and it has its headquarters in the city of London. It is an online broker that offers traders an opportunity to trade with leverage, with no account minimum and no margin requirements.

Hotforex offers its clients an array of different products and services, including forex, cryptocurrencies, CFDs (contracts for difference), stocks, commodities, options and futures. They also have a mobile app for iPhone users called Hotforex Mobile Trader 2.0.

The company offers a wide range of educational resources for its traders including webinars and articles on financial markets. Their customer service team can be reached through email or live chat 24 hours a day from Monday through Friday (excluding holidays).

 

This is a list of the best forex brokers to use in 2023

If you’re a new forex trader, you’ll have to be careful about which company you choose to trade with. Take your time shopping for a new provider, and make sure that you the one that meets all of your needs. This list highlights the best brokers for 2023, so it’s really up to you if you want to make a move now or keep your current broker. Just make sure that you take your time and select the most suitable option for your trading needs.

 

IC Markets & Tickmill

Pepperstone & Capital.com

Top FX & HFM

AMarkets & FXTM