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WITH THE BEST BROKER



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Guides to Choose Brokers


Brokers Regulation A-Z


Deposit and Withdrawal


How to Avoid Broker Scams


READY TO TRADE?

Forex demo account is where you can get a risk-free simulation with the real market experience.

Where to open a demo account? The choice is all yours:

Rating:

Year Established: 2007

IC Markets is a fitting destination for active traders looking for a well-regulated broker.

Are you ready to start here?


Rating:

Year Established: 2008

The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, Exness can be your best choice.

Are you ready to start here?


HOW TO TRADE WITH THE BEST PLATFORM?

A favorite among traders worldwide, MetaTrader is "the standard" when it comes to retail trading.

Where can you access it? MetaTrader is available in MetaQuotes' official website and almost every CFD broker out there. To simplify your quest, these two brokers can be a good start to trade with Metatrader:

Rating:

Year Established: 2007

When it comes to trading platform, IC Markets MetaTrader series is optimized to support the best trading experience across multiple devices.

Do you want to try the platform?


Rating:

Year Established: 2008

Provided as the world's leading platform with competitive edges in terms of flexible trading, analytics, autotrading, and security, Exness MetaTrader series is available in many devices.

Do you want to try the platform?


Top-Tier Regulated Brokers
Broker Regulation Min Deposit Rating
ThinkMarkets ASIC 424700
FCA (UK), 629628
FSCA (South Africa), FSP No 49835
$1
FBS ASIC, 426359
CySEC, 331/17
IFSC (Belize), IFSC/60/230/TS/12
$1
easyMarkets ASIC, 246566
CySEC, 079/07
FSA (Seychelles), 19.09.2020
FSC (BVI), 15.20.2020
$100
Plus500 ASIC, 417727
CySEC, 250/14
FCA (UK) 509909
FSCA (South Africa), 47546
ISA (Israel), 5
Monetary Authority of Singapore, 2017-12-11
$100
XTB CNMV (Spain), 40
Czech National Bank, 56720
DFSA (Dubai), 4365
FCA (UK), 522157
FSA (Poland), 0000217580
FSCA (South Africa), 49970
IFSC (Belize), IFSC/60/413/TS/19
ESMA
$1

Rating


Spread
Variable
Regulation
ASIC, 286354
Min Deposit
$100
Established
2005


Bonus offers

Free education

Personal manager

Trading by telephone

PAMM accounts

MAM accounts

Segregated accounts

Affiliate program

Islamic accounts available

Payment

Bitcoin
Credit/debit cards
Dragonpay
Ethereum
FasaPay
Local bank transfer
Neteller
Ripple
Skrill
Tether (USDT)
Wire transfer

Broker Finder

Follow the questions to find your destined broker



Rating


Spread
Variable
Regulation
Banque de France, 73762
Min Deposit
$200
Established
2009


Trading contests

Free education

Personal manager

Trading by telephone

MAM accounts

Segregated accounts

Managed accounts

Affiliate program

Islamic accounts available

Payment

Credit/debit cards
FasaPay
Neteller
Skrill
WebMoney
Wire transfer

Owned by Orbex Group Limited and is operated by Orbex Global Limited, Orbex provides foreign exchange and CFD online trading for traders worldwide. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with License Number 124/10. As it resides in the European Union jurisdiction, Orbex is also registered with other supervisory authorities based on the MiFID Directive; it included UK's FCA and German's BaFin.

Orbex thrives to serve clients with the most updated innovations in the forex industry. The company commits to deploy active promotions and other special offers to traders. Envisioning itself as a global brand, trading with Orbex is promoted to enhance the trading experience with the best customer service, one-hour response time for sales and support requests, speed, and reliability in trading, deep liquidity from Tier-1 banks, as well as swap-free accounts.

This broker presents excellent market trading conditions with various trading instruments such as 50 pairs of currencies and other assets like Precious Metals, Future Contracts (OTC), Equity Indices (OTC), CFDs, and Energy Contracts. Orbex generally offers maximum leverage of 1:30, as per ESMA's regulation to limit the condition. However, it allows higher leverage up to 1:500 only for professional traders.

Further details on Orbex's trading conditions are divided by the account types' specifications below:

Starter Account

  • Minimum deposit: $200
  • Spread: Variable, from 1.7 pips
  • Commission: None
  • Execution type: NDD
  • Extras: Monthly webinar, Trading Central, Scalping allowed, regular training sessions, free signals, basic education, EAs allowed.

Premium Account

  • Minimum deposit: $5,000
  • Spread: From 0 pips
  • Commission: $8
  • Execution type: NDD
  • Extras: Exclusive webinar and Live trading, Trading Central, Scalping allowed, 1 on 1 training sessions, premium signals, advanced education, VPS support, EAs allowed.

Ultimate Account

  • Minimum deposit: $25,000
  • Spread: From 0 pips
  • Commission: $5
  • Execution type: NDD
  • Extras: Exclusive webinar and Live trading, Trading Central, Scalping allowed, 1 on 1 session, ultimate signals, advanced education, VPS support, EAs allowed.

Opening an account in Orbex accommodates the needs for flexible trading anywhere and anytime, as their MetaTrader 4 is supported in not only PC screen, but also Android and iOS systems. However, this broker does not provide any alternatives for trading platforms aside from MetaTrader 4.

Besides the conventional bank transfer, account fundings and withdrawals are enabled via direct debit/credit cards, Skrill, NETELLER, WebMoney, FasaPay, and other digital wallets. There are no fees and all deposits and withdrawal methods, but there is an exception for bank withdrawals as there may be commissions from the intermediary and/or beneficiary bank.

Finally, it can be concluded that Orbex is a competitive broker for all types of traders . It covers beginners' conditions in Fixed and Starter Accounts while ensuring experienced traders' needs in Premium and Ultimate Accounts at the same time.

However, it is also important to note that Orbex is an offshore-based company even though the operation is already authorized by CySEC. That's why new traders should maintain a minimum trading balance in their initial experience with Orbex.

Compare Brokers

Compare brokers side by side to find the best one.

Broker Min Deposit Spread Commission Rating
Axi $1 Variable $7
Exness $1 Variable and Fixed $3.50
FBS $1 Variable and Fixed $6
FIBOGroup $1 Fixed and Variable $3
FXCM $1 Fixed $4

Rating


Website
www.fxcm.com
Spread
Fixed
Regulation
ASIC, 309763
Min Deposit
$1
Established
1999


Interest rate on funds

Free education

Trading by telephone

PAMM accounts

LAMM accounts

Segregated accounts

Managed accounts

Requires sending documents via postal mail

Payment

Credit/debit cards
Neteller
Skrill
Wire transfer

FXCM (Forex Capital Markets) is a brand name of a retail broker for trading on the financial market, especially the foreign exchange market. The broker was founded in 1999 and was originally headquartered in the United States. After a series of lawsuits from customers and case settlements by the US regulator (CFTC), FXCM moved from the US and became a UK-based broker, authorized and regulated by the Financial Conduct Authority (registration number 217689).

Trading with FXCM is supported by enhanced execution with the Liquidity providers' stream pricing through the FastMatch Electronic Communication Network.

FXCM works with several global banks, financial institutions, and other market makers as their Liquidity providers including Barclays Bank, Citadel Securities, Citibank, Deutsche Bank, FASTMATCH, XTX Markets Limited, UBS, Morgan Stanley, Commerzbank, and Jefferies Financial Services.

This, in turn, enables FXCM to present its clients with fast trade execution, competitive spreads, low negative slippage, no re-quotes, no stop/limit restrictions, and up to 89% of orders are executed at the requested price or better.

For the trading platform, FXCM is remarkably known for its proprietary product called Trading Station. The latest version of this platform's web display is claimed to be built in Mac Friendly HTML5. It features a range of trading appliances such as integrated news, economic calendar, FXCM's top trading tools, social trading functionalities through FXCM Cloud, customized trading analytics, automated strategies, and advanced charting for better analysis. For flexible traders who prefer trading on-the-go, FXCM has also provided Trading Station in mobile version, both for iOS and Android users.

However, the company's in-house platform is not the only option presented for clients. FXCM also gives the choice to use MetaTrader 4 for clients who are more familiar with MetaQuote's product. Also, ZuluTrade access is enabled for clients with keen interests in copy trading schemes that transcend across brokers.

Instead of classifying account types based on minimum deposits, FXCM chooses to offer trading accounts based on the instruments traded. For FX traders, this broker provides Active Trader and Institutional accounts.

Active Trader is the ultimate account type for retail traders with two-tier pricing. Tier 1 applies a minimum deposit of $25,000 with a $30 commission for 1 million volumes traded, while Tier 2 has no detail on deposit requirement but gives better fee conditions. Spreads in both tiers start from 0.2 pips.

Institutional account, also known as FXCM Pro, is marketed as a wholesale execution and liquidity solution for retail brokers, hedge funds, and emerging market banks. The account presents trading spreads from 0.1 pips and other competitive benefits like API solutions as well as prime brokerage services.

For non-FX traders, FXCM provides a CFD trading account with low spread costs from 0.37 pips (in XAU/USD) and a wide range of class assets from precious metals, soft commodities, and indices.

Last but not least, a collection of in-depth articles is provided to help traders' knowledge and insights on the forex market. Trading tools like FXCM Plus, Market Scanner, Trading Signals, and Technical Levels are also developed to support traders who open accounts in FXCM .

In conclusion, FXCM is an experienced retail broker with a lot of "ammunition" to help traders with its best version of execution, pricing, and tools. It is a well-regulated broker backed with a long history in the financial market, even though it has a dark history in the United States' brokerage industry.

Still, the relatively high standard on minimum deposit ($25,000) puts FXCM as a broker suitable for experienced traders with good money management. It is not recommended for new traders with limited capital.


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Rating


Website
www.xtb.com
Spread
Variable
Regulation
CNMV (Spain), 40
Min Deposit
$1
Established
2002


Free education

Personal manager

PAMM accounts

Segregated accounts

Affiliate program

Islamic accounts available

Payment

Credit/debit cards
Neteller
PayPal
Skrill
Wire transfer

With more than 15 years of experience, XTB (rebranded from X-Trade since 2009) is one of the largest brokers in the world. They have offices in more than 10 countries, including Belize, UK, Poland, Germany, Spain, and France. XTB Group is regulated by the world's biggest supervision authorities including the IFSC, FCA, KNF, and CySEC.

As a regulated company, XTB holds all retail clients' funds in a fully segregated account, meaning they are not mixed with the broker's operational funds. This enables traders who register in XTB to trade with confidence in their funds' safety.

XTB tries to provide an easy-trading anytime and anywhere. They have a mobile application, xStation to realize that vision. Traders can access financial markets from their fingertips and choose from over 1,500 CFD markets including 48 currency pairs, cryptocurrencies, 20 indices, commodities (gold, oil, silver, etc.), stock, and 60 ETFs from around the world. This application can be downloaded in Google Play and App Store.

Traders also can access their platform by PC. XTB offers a web trade platform with access to more advanced tools for more advanced traders. It's fully compatible with Chrome, Firefox, Safari, and Opera web browser. Traders are provided with fast and reliable trade execution speeds. No wonder this platform has successfully presented XYB with awards such as Best Trading Platform 2016 by Online Personal Wealth Awards. Additionally, MetaTrader 4 is also available when trading in XTB .

XTB charges fees for forex, indices, and commodities trading. The amount of fees differ based on the types of accounts. For example, in Pro Accounts, traders have to pay a commission from $3.5 per lot for forex and a commission from 0.08% per lot for stock CFDs and ETF CFDs.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. When trading, clients have to prepare strategies. Based on XTB's data, 75% of retail investor accounts lose money when trading CFDs. Because of that, clients should consider their level of understanding of CFD trading and their affordability to take high risk.

Traders can increase knowledge by joining XTB's Trading Academy program. There is a vast array of content that's geared towards helping traders, including video tutorials, trading courses, articles, and much more. Traders can choose a topic from different levels of education and enhance their skills across the stages of the trading journey.

Furthermore, there are several ways to deposit funds in XTB, including bank transfer, credit cards (Mastercard, Maestro, Visa), as well as e-Wallets (Skrill, Paysafe, Neteller, and many more). But, some of these methods may incur additional charges. For example, when using Neteller methods, traders have to pay 1% of their deposited amount.

Traders can contact XTB's customer support that is available 24/7. They are ready to answer all of the traders' questions and solve the problems, whether by email, phone, or live chat.

Overall, XTB is recommended as an ideal broker with top-tier regulation and trading platforms. Its education feature is also worth joining in as many traders are still in the process of perfecting their consistency and continue to learn the dynamic change in the forex market.

Rating


Spread
Fixed
Regulation
DFSA (Dubai), 4
Min Deposit
$1000
Established
1996


Free education

Trading by telephone

Payment

Credit/debit cards
Wire transfer

As a leading Swiss banking group, Swissquote is considered one of the most well-known online financial and trading services providers. The company is listed on the SIX Swiss Exchange since May 2000, but their story originated back in the 1990s, where Marc Bürki and Paolo Buzzi set up a business in financial software.

Swissquote's main vision is to enable private investors to access real-time prices free of charge. They follow a mission of "democratizing banking" by upholding the values of transparency, integrity, and unbiased information for the benefit of clients, in turn allowing them to make independent decisions.

Today, Swissquote is a global financial services provider with official branches in several major areas in the world like the European area, Middle Eastern, and Asian financial centers. From 2017 to 2018, it claims as the first online bank to offer crypto trading and participation in Initial Coin Offering (ICO).

Trading in SwissQuote guarantees a regulated environment, as the broker is licensed in some of the most well-known jurisdictions in the financial industry, including the Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA) from the UK.

The broker also has local regulations for other branches in other jurisdictions such as the Malta Financial Services Authority (MFSA), the Dubai Financial Services Authority (DFSA), and the Securities & Futures Commission (SFC) from Hong Kong to enable non-EU traders to register under its account with regulated services.

SwissQuote is notable for its wide variety of trading instruments, such as 8,500+ stocks and more than 800 ETFs. Forex pairs, cryptocurrencies, government bonds, and a range of commodity CFDs are also provided to clients.

The company presents a special deposit protection scheme that amounts to CHF100,000 in the event of bankruptcy proceedings. Traders from other countries are offered many choices of base currencies like EUR, USD, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, and CZK.

Opening an account in SwissQuote for forex trading is available in 3 different choices:

Standard

  • Spreads: from 1.7 pips
  • Commission: none
  • Minimum deposit: $1,000
  • Minimum trade: 0.01 lot
  • Leverage: 1:100

 

Premium

  • Spreads: from 1.4 pips
  • Commission: none
  • Minimum deposit: $10,000
  • Minimum trade: 0.1 lot
  • Leverage: 1:100

 

Prime

  • Spreads: from 1.1 pips
  • Commission: none
  • Minimum deposit: $50,000
  • Minimum trade: 1 lot
  • Leverage: 1:100

Dubbed as the most popular account, Swissquote put Premium account as the recommended choice for forex traders, as it balances a competitive spread and affordable minimum deposit according to their standard.

For the trading platform, traders can choose between MetaTrader or Sawissquote's proprietary product called Advanced Trader. To provide traders with the best experience in trading, the company also puts complementary analytical tools such as Autochartist and Trading Central signals.

For MetaTrader fans with a desire to trade in an advanced trading environment, Swissquote offers the MetaTrader Master Edition.

As the company is more suitable to experienced traders with a medium deposit capability, they do not have a complete educational package to offer to new traders. However, they arrange free webinars for everyone who would like to continually upgrade their trading knowledge. This program is managed by professional figures in the financial industry and is available in 4 languages: English, German, French, and Arabic.

All in all, Swissquote is an ideal broker for traders with enough experience to trade with more than $1,000 as their starting deposit. Its long-standing history and qualified background as a member of a Swiss banking group provide high credibility and a guaranteed trading environment that not many can offer.

However, it is also important to note that Swissquote does not offer various deposit and withdrawal methods, as they mainly focus on bank transfer and credit card payments that they revolutionized in 2018 by launching a multi-currency credit card.


Rating


Website
www.hycm.com
Spread
Fixed
Regulation
Cayman Islands Monetary Authority, 1442313
Min Deposit
$100
Established
1977


Islamic accounts available

Payment

Credit/debit cards
Neteller
Skrill
WebMoney
Wire transfer

Formerly known as HY Markets, HYCM is a forex broker headquartered in London, UK. First established in 1977, this broker now has been regulated by the FCA (Financial Conduct Authority), the UK's trustworthy and reputable regulatory agency for more than 20 years. Besides, HYCM has also been regulated by other reputable agencies like CIMA (Cayman Islands Monetary Authority), CySEC (Cyprus Securities and Exchange Commission), and DFSA (Dubai Financial Services Authority).

Regulated by world-renowned financial regulators as well as having representations in the United Kingdom, Hong Kong, Cyprus, and Dubai, clients who open an account in HYCM can rest assured they are trading with a solid and secure company that excels in delivering one of the best trading solutions.

As a part of Henyep Group, HYCM opts to provide wide access to various trading markets including currencies, stocks, and commodities. Besides, HYCM has accumulated a large collection of awards since its inception, including World Finance’s Best Mobile Trading Platform (2017) and Global Banking & Finance Review's Best Forex Broker, UAE (2017).

Its recognition as an industry leader has helped HYCM to be known as the best broker across the globe. With a long track record of its ability in providing an outstanding and trustworthy trading experience, HYCM offers clients everything they need to make well-informed trading decisions.

HYCM offers some excellent trading conditions for their clients, including great liquidity and low spreads, as well as delivering a super-efficient service. Those services are in line with their commitment to focus on fast execution and low-cost trading. Any trading conditions offered by HYCM is differed by the instruments being traded:

Forex

  • Spread: starts from 0.2 pips
  • Maximum Leverage: 1:30

Stocks

  • Spread: starts from 18 pips
  • Maximum Leverage: 1:5

Indices

  • Spread: starts from 2.0 pips
  • Maximum Leverage: 1:20

Commodities

  • Spread: starts from 3.0 pips
  • Maximum Leverage: 1:20

Since HYCM is intended to be a broker of the most updated technology, they strive to stay ahead of industry trends by adopting the latest technologies to fulfill their clients' evolving needs. HYCM provides both MetaTrader 4 (MT4) and MetaTrader5 (MT5) trading platforms, to assist traders from all skill levels, together with advanced technical analysis, flexible trading systems, and Expert Advisors, as well as mobile trading applications.

For those who are newbies to the forex field, HYCM has helped much by preparing lots of educational resources and comprehensive product offerings. There are some forex tutorials, trading strategies, forex ebooks, and beginners' courses. Trading in HYCM also provides some useful tools, including calculators, economic calendar, news, and market outlook. Those overall services are a good choice for investors of all kinds, from beginners to professionals.

Last but not least, HYCM also offers various convenient deposit and withdrawal methods through bank transfer, credit card, and e-payment (Neteller, Skrill). Although bank transfers can take up to 5 days to appear in the trading account, all other methods are instantly processed for immediate trading. Numerous currencies are accepted as base currency including US Dollar and Euro, as well as KWD (Kuwaiti Dinar), AED (United Arab Emirates Dirham), RMB (Chinese Yuan), and SAR (Saudi Riyal).

If you are looking for a reputable and trustworthy broker with whom to begin trading and invest your funds, HYCM is a good choice. As they are fully licensed and regulated, investors are guaranteed the security of their financial and personal details. The choice of user-friendly trading platforms makes HYCM a sensible selection for both novices and experienced traders.



Rating


Spread
Fixed and Variable
Regulation
BAPPEBTI
Min Deposit
Established
2005




Rating


Spread
Variable and Fixed
Regulation
ASIC, 28381
Min Deposit
$100
Established
2001


Bonus offers

Trading contests

Free education

Trading by telephone

PAMM accounts

MAM accounts

Segregated accounts

Affiliate program

Islamic accounts available

Payment

AstroPay
Bitcoin
Credit/debit cards
iDEAL
Neteller
PayPal
Skrill
SOFORT
Wire transfer

User Reviews
Goldandskies (FXTM)
Dec 7 2021
FXTM is actually a really good broker, but sometimes I find them a little bit complicated. But that could be...

Lana (InstaForex)
Dec 7 2021
InstaForex is one of few brokers that actually keep their promises about bonuses. They really stay true to what they...

Lana (InstaForex)
Dec 7 2021
InstaForex is one of few brokers that actually keep their promises about bonuses. They really stay true to what they...

All User Reviews  
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AUDUSD
86%
14%
EURUSD
65%
35%
GBPUSD
83%
17%
NZDUSD
83%
17%
USDCAD
23%
77%
USDCHF
21%
79%
USDJPY
26%
74%
Dec 7 2021
From Myfxbook
Broker EUR / USD GBP / USD USD / JPY
FXTM 0.1 0.4 0.1
FXCM 0.2 0.3 0.2
Pepperstone 0.8 2.3 1.6
Tickmill 0.1 0.2 0.1
Forex.com 1.4 2.2 1.2
FBS 0.2 0.5 0.3
Orbex 0.4 0.6 0.4
Exness 0.0 0.0 0.0
Dukascopy 0.3 0.8 0.5
ThinkMarkets 1.8 3.0 2.0
RoboForex 0.5 1.0 0.7
IC Markets 0.1 0.3 0.1
Axiory 0.4 0.5 0.5
XM 0.3 0.3 0.1
InstaForex 5.0 9.0 7.0
FP Markets 0.1 0.3 0.2
BDSwiss 0.3 0.7 0.3
FirewoodFX 1.0 2.0 1.0
IronFX 0.1 0.5 0.3
AvaTrade 0.9 1.6 1.2
OctaFX 0.7 1.1 1.3
Vantage FX 0.3 0.6 0.3
FxPro 1.5 1.5 1.4
Dec 7 2021
From Myfxbook
EUR / USD GBP / USD USD / JPY
Tickmill
Short 0.05 -0.24 -0.26
Long -0.37 -0.30 -0.16
ETX Capital
Short -0.42 -0.71 -0.68
Long -0.83 -0.74 -0.60
FBS
Short -0.07 -0.39 -0.43
Long -0.64 -0.43 -0.23
OANDA
Short 0.01 -0.09 -0.15
Long -0.06 0.01 0.09
Orbex
Short 0.06 -0.20 -0.23
Long -0.43 -0.18 -0.10
ActivTrades
Short -0.08 -0.32 -0.37
Long -0.52 -0.37 -0.19
Dukascopy
Short 0.01 -0.21 -0.30
Long -0.38 -0.22 -0.18
RoboForex
Short -0.08 -0.41 -0.50
Long -0.68 -0.50 -0.28
IC Markets
Short 0.03 -0.25 -0.28
Long -0.40 -0.32 -0.15
InstaForex
Short -1.50 -2.90 -22.50
Long -6.30 -5.20 -7.70
HYCM
Short -0.75 -0.75 -1.25
Long -1.25 -1.25 -0.75
FP Markets
Short 0.03 -0.18 -0.31
Long -0.39 -0.22 -0.10
BDSwiss
Short -0.05 -0.07 -1.08
Long -0.70 -0.67 0.01
Dec 7 2021
From Myfxbook
Broker EUR / USD GBP / USD USD / JPY
FXCM 54 50 61
Tickmill 106 76 63
FBS 100 77 42
Dukascopy 105 70 50
ThinkMarkets 7 10 39
RoboForex 163 136 71
IC Markets 107 65 72
XM 99 95 56
InstaForex 6 8 2
BDSwiss 85 94 52
FirewoodFX 19 8 18
IronFX 32 54 37
Dec 7 2021
From Myfxbook
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Established: 1998

Min. Deposit: $1

Spread: Fixed and Variable

Leverage: 1:1000

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Established: 2009

Min. Deposit: $1

Spread: Variable and Fixed

Leverage: 1:3000

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Established: 2011

Min. Deposit: $100

Spread: Variable

Leverage: 1:500

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Established: 2008

Min. Deposit: $1

Spread: Variable and Fixed

Leverage: 1:2000

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