With Expert Advisors (EA), traders don't need to keep staring at the screen anymore while trading. Here are some of the best brokers for EA trading to check out.

Anyone can access the forex market these days, but not all of them come back with hands full of fortune. In fact, you might have heard that the majority of traders lose their money and end up quitting. This is why developers have created many tools and instruments to help traders maximize their potential returns and smoothen their trading experience. One of the useful trading tools to check out is Expert Advisor (EA).

Expert advisor brokers

Expert Advisors, also known as forex robots, would let you automate your trades based on certain trading criteria. Expert Advisors eliminate the need of sitting in front of your computer the whole time while trading. You will no longer have to stare at the screen and analyze the market for hours because the tool will do the work for you as well as execute the trade on your behalf. This would be particularly beneficial for many traders, especially those who use trading as a part-time job.

 

Introduction to Expert Advisors

In forex trading, an Expert Advisor is computer software that is designed to automate forex trading. The software can analyze the currency pairs in the forex market and spot trading opportunities for the trader.

Commonly, traders would analyze the market by using several chart setups and trading indicators, then deciding when to open and exit positions, as well as choosing what kind of orders must be used to produce the best outcomes. All of these are automated.

The Expert Advisor that we know today has undergone a few modifications over time. In its early days, Expert Advisors were used simply to help analyze the market while today it offers way more advanced uses. Now the robots can run analyses on several currency pairs at once and ultimately provides buy and sell signals on the trading platform.

Moreover, Expert Advisors are mostly used within the MetaTrader 4 and 5 platforms, where all EAs are written by using a programming language called MetaQuotes Language (MQL). Each trader can create their own EAs and modify them based on their trading strategies. The robots will then automatically carry out the trades depending on the pre-programmed parameters. The challenge is to find the right programmer that could translate your requests well into an actionable EA without messing up the codes.

Other than that, traders can also choose the pre-made EAs that are ready to use. Currently, there are tons of EAs sold online, some of them are even offered for free as rewards or lead-in products to other forex projects. However, buying pre-made EAs is considered pretty risky because the programmed strategy or code is usually not revealed. Generally, the strategy is only briefly explained to avoid imitations (scams).

A good Expert Advisor must meet several basic criteria that could make them work perfectly. Some of them are as follows:

  • The Expert Advisor must have well-defined entry and exit parameters.
  • The EA must be able to provide acceptable money management parameters.
  • The EA should have periodic updates in order to keep up with the market changes.
  • The codes should be bug-free and error-free.
  • It's best to pick an EA that has been back-tested and forward-tested for over a year to avoid failures.
  • Last but not least, the EA must have well-layered protection, especially from hacking issues.

It's crucial to know the exact candidate of the EAs before buying and always make sure to check the reviews from other buyers. Alternatively, you can use the "open source" EAs, which allow traders to see the robot's programmed codes. In this case, the developer sets the default settings of the EA and lets the trader modify them further to suit their trading strategy. Whether you use your creation or someone else's EA, you must test it on a demo account.

 

Choosing the Best Broker for Expert Advisor

While choosing the Expert Advisor itself is important, remember that you also need to connect the EA with your trading account. This makes your choice of broker matters quite a lot for your trades. Here are some of the factors that you need to consider before choosing a good broker for trading with EA:

 

Broker's EA Policy

First things first, you need to make sure that the broker allows you to run EAs and they have no issue with the type of trades that your EA uses. Most forex brokers typically don't have issues with EAs in general but there might be some limitations for certain types of EAs. For instance, some brokers don't allow EAs to open and close trades with less than 3 pips or 10 pips difference, which is pretty significant for scalpers. Some brokers also don't allow arbitrage and hedging.

 

Trading Platform

The choice of the trading platform can affect the performance of the EA. Since most EAs are programmed for MetaTrader, especially MetaTrader 4, then it's best to pick a broker that supports MT4 and MT5. Luckily, most forex brokers offer MetaTrader so this won't be a tough obstacle for you. Instead, what you should keep in mind is how the platform is going to execute your orders. This is related to the execution software that the broker uses and how advanced it is.

 

Broker's Execution Speed

The next thing to do is to make sure that the broker has a good quality in terms of trade execution as well as the technology behind it. This can actually affect the performance of your EA especially if you use the High-Frequency Trading (HFT) type.

In a nutshell, the main focus of HFT Expert Advisors is speed. This type of EA trading aims to make a profit from arbitrage. This means the robot would scan several data centers at once where there are only slight differences in the prices of the same asset.

Other than that, the broker's market execution speed is also important especially if you use a scalping method where your Expert Advisors should open and close trades several times a day. In this case, the broker should be able to execute orders as fast as possible so you can make sure that your EAs take all of the possible opportunities in the market without any issue.

 

Slippage

Slippage in forex trading can occur if the broker can't execute the order at the intended price, so it's executed at the closest price possible. Though it rarely happens, it's possible to get a better price than you ordered, which is called positive slippage. What's more commonly found in forex brokers is negative slippage, where the price executed is worse than the trader's request.

Slippage usually occurs in volatile markets. Brokers with more and larger liquidity providers would be able to handle these situations better, so slippage isn't really a big deal for them. Therefore, this sort of broker is the type that's highly suggested for EA users.

 

Spread and Commission

Lastly, it's important to pay attention to the trading cost. Spread and commission are particularly important for scalpers or day traders that can trade several times a day. Even though the fee for each trade is usually small, but it could pile up into a considerable amount by the end of the day.

 

Top Brokers for Expert Advisors

Based on the criteria above, here's a list of the best forex brokers to integrate with Expert Advisor software:

 

IC Markets

IC Markets is one of the major forex brokers that was founded in 2007 and based in Australia. There are at least 200 tradable assets available, such as forex pairs, CFDs, as well as for cryptocurrencies. The minimum deposit in IC Markets is $200 and you can choose to trade with a demo or regular account. In addition, there are no withdrawal and inactivity fees. IC Markets is supervised and monitored by several regulators including ASIC. In IC Markets, there are three trading platforms offered, namely MetaTrader 4, MetaTrader 5, and cTrader.

Spread
Variable
Regulation
ASIC, ACN 123 289 109
Min Deposit
$200
Established
2007

Interest rate on funds
Free education
PAMM accounts
MAM accounts
Segregated accounts
Managed accounts
Payment
Bitcoin
BPAY
Credit/debit cards
FasaPay
Neteller
PayPal
Skrill
UnionPay
Wire transfer

IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).

On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.

Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.

The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.

For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.

As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.

To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.

 

FP Markets

FP Markets is a well-known global brokerage firm that has been around since 2005 and is headquartered in Australia. For over a decade, the broker has grown to offer forex and CFD trading for retail traders from all around the world. As a multi-asset platform, FP Markets offer more than 100 tradable assets including forex pairs, precious metals, indices, and commodities.

Moreover, the ASIC-regulated broker also offers great trading conditions for EA users. Traders can choose between MetaTrader 4 and 5, with top execution speed and minimum slippage. In addition, the broker allows scalping, hedging, and news trading.

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
Dash
Dragonpay
Ethereum
FasaPay
Litecoin
Local bank transfer
Neteller
Ripple
Skrill
Tether (USDT)
USD Coin (USDC)
Wire transfer

 

AvaTrade

Founded in 2006, AvaTrade is one of the well-known brokers that offer various trading types and more than 1,000 tradable assets, including forex pairs, commodities, indices, stocks, cryptocurrencies, bonds, vanilla options, ETFs, and CFDs. Other than that, AvaTrade also supports social trading and spread-betting. The minimum deposit needed is $100, with no withdrawal, inactivity, and deposit fees. Traders can choose between various trading platform options, including MetaTrader 4 and 5, AvaTradeGo, DupliTrade, ZuluTrade, and more.

Spread
Fixed and Variable
Regulation
ASIC, 406668
Min Deposit
$100
Established
2006

Bonus offers
Trading contests
Free education
Personal manager
PAMM accounts
Segregated accounts
Managed accounts
Islamic accounts available
Requires sending documents via postal mail
Payment
Credit/debit cards
Neteller
Skrill
UnionPay
WebMoney
Wire transfer

Avatrade can be called one of the most well-rounded brokers that support almost all trading styles. Not only allowing hedging, scalping, and expert advisor (EA), Avatrade also completes their service with One-cancels-the-other order (OCO) and AutoTrading in many variants of automated trading systems.

AvaTrade was founded in 2006, with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.

In 2019, the Dublin-based broker got achievement from Daytrading.com as The Best Forex Broker 2019. Besides, the company is honored as Best Forex Broker, Best Bitcoin CFD Trading Provider of the year, and Best Affiliation Programme in the European area.

Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.

The Autochartist free signal is provided in Gold Account, Platinum Account, and AVA Select. By opening an account in AvaTrade, traders don't have to pay for getting a full Autochartist service. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives.

Traders can access AvaTrade in many variants of platforms, such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading, and AvaOptions.

In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even with deposits of up to ten thousand dollars, security can be guaranteed. Applying the Segregated Account system, AvaTrade is regulated by the Central Bank of Ireland (No.C53877), ASIC Australia (No.406684), JFSA Japan (No.1662), and South Africa (FSP 45984).

Can traders lose more than their deposit abruptly in the event of high volatility? AvaTrade explicitly answers no, as traders have negative balance protection.

With a minimum deposit of USD100, AvaTrade offers various leverage depending on the trading instruments; whether it is forex (starts from 30:1), indices (starts from 20:1), commodities (starts from 5:1), ETFs (starts from 5:1), or cryptocurrencies (starts from 2:1).

AvaTrade has committed to a set of values in relation to customers. Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform.

New traders can also learn forex trading in the Education tab on AvaTrade's official website. Traders will find a wide collection of articles, video tutorials, and more tools that will assist them every step of the way. It is an important requirement as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account.

There are many types of account types provided by AvaTrade. There is also an Islamic Trading Account, which is uniquely provided for Muslim Traders. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests (swap-free), which sits well with the finance principles of Sharia Law.

If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice. The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time.

 

HotForex

HotForex was established in 2010. The company offers various trading types including forex trading, CFD trading, social trading, spread-betting, and share-dealing trading. With a minimum deposit of only $5, traders can get maximum leverage of 1:1000. There are several payment methods to choose from, such as wire transfer, Union Pay, Neteller, Skrill, and even Bitcoin. Traders can choose between MetaTrader 4 and 5. Scalping, hedging, and news trading are also allowed.

Spread
Variable
Regulation
Capital Markets Authority of Kenya, 26/01/2022
Min Deposit
$5
Established
2010

Bonus offers
Trading contests
Free education
Personal manager
Trading by telephone
PAMM accounts
Segregated accounts
Managed accounts
Affiliate program
Islamic accounts available
Payment
Bitcoin
Credit/debit cards
Ethereum
FasaPay
Litecoin
Neteller
Perfect Money
Ripple
Skrill
WebMoney
Wire transfer

HotForex is an award-winning forex and commodities broker. Established since 2010, the company provides trading services and facilities to both retail and institutional clients. For more than 9 years in business, HotForex has around 1,500,000 live accounts opened and 200 employees globally.

Based on its services, HotForex can be regarded as middle-class category. Clients do not need to prepare a big deposit for joining to trade in this broker. Also, there are various accounts types, trading softwares, and tools to facilitate individuals and institutional customers to trade forex and CFD online.

HotForex is a registered brand name of HF Markets (Europe). Based on the location, the company is regulated by various financial regulators. Here are the details:

  • HF Markets (SV) Ltd, registered in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015.
  • HF Markets (Europe), authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with Licence Number 183/12.
  • HF Markets SA (PTY), authorized and regulated as a Financial Service Provider (FSP) from the Financial Sector Conduct Authority (FSCA) in South Africa, under the licence number 46632.
  • HF Markets (Seychelles), incorporated under the laws of the Republic of Seychelles with registration number 8419176-1, regulated by the Seychelles Financial Services Authority (FSA) under Securities Dealer Licence number SD015.
  • HF Markets (DIFC) Ltd, authorised and regulated by the Dubai Financial Services Authority (DFSA) under licence number F004885.
  • HF Markets (UK) Ltd, authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 801701.

If traders have more experienced, knowledgeable, and sophisticated trading environment, they can join to become Professional Clients, who can manage and assess their own risk. For that reason, this kind of clients are granted access to more favorable rates but afforded with lesser regulatory protections than of retail clients.

Trading with HotForex can enable traders to access a variety of trading instruments like CFDs on Forex, Cryptocurrencies, spot metals (gold, silver, and others), energies (oil and gas), commodities (such as coffee, copper, and sugar), indices, bonds, and popular shares such as Google, Apple, and Facebook.

HotForex offers some of the tightest spreads in the market, starting from 0 pips in Zero Account. This broker quote major foreign exchange currency pairs to five decimal places. Therefore, traders have the opportunity to get more accurate in pricing and the best possible spreads.

HotForex receives numerous highly prestigious titles, including the huge honor of being selected to join the ranks of the World Finance Top 100 Global Companies. Others are Best Client Funds Security Global by Global Brands Magazine, Best Global Forex Copy Trading Platform by Global Forex Awards 2019, Fastest Growing Forex Broker Mena 2019 by International Business Magazine, and many more.

After opening an account in HotForex, traders will obtain various forex trading platforms to accommodate all of their trading demands. Whether traders like to trade from desktop or prefer to trade on-the-go, they can use MetaTrader 4 in desktop (terminal, multi-terminal, and web terminal) and phone (iPhone, iPad, and Android).

Clients’ funds are held in segregated accounts. Only major banks are used by HotForex because they believe that successful traders have to give their full attention to their trading rather than worrying about the safety of their funds.

Traders do not need to worry about transaction fees when depositing and withdrawing. Transaction fees are not charged, and diversity of payment methods enable them to choose between Wire Transfer, Bank Card, and online payments (Neteller, iDeal, Sofort Banking, and Skrill). HotForex ensures that traders make fast transactions 24/5 during the standard hours.

Traders can earn extra income by joining the affiliate program offered by HotForex. Clients who join this program will get some advantages, such as 60% of Net Spreads based on the volume traded by sub-clients, up to $15 per a lot of net revenue, and many more. More information about HotForex can be obtained on their official website which is supported in 27 languages.

From the review above, it can be concluded that HF Markets is one of the award-winning forex and commodities brokers. There are various account types traders can choose in HotForex, and the broker itself becomes a favorite among traders for its low spreads. This condition is very suitable for traders with limited funds and a desire to get more opportunities to gain maximum profit.

 

Axi

Axi was founded in 2007 and is headquartered in Australia. There are more than 140 tradable instruments offered, including forex pairs, metals, oil, indices, and CFDs. The broker also supports social trading. The minimum deposit is $1 and the maximum leverage is 1:500. Scalping, hedging, and news trading with EAs are all allowed. Traders can use MetaTrader 4 to execute their trades.

Spread
Variable
Regulation
ASIC, 318232
Min Deposit
$1
Established
2007

Bonus offers
Trading contests
Free education
Personal manager
Trading by telephone
PAMM accounts
MAM accounts
Segregated accounts
Affiliate program
Islamic accounts available
Payment
BPAY
Credit/debit cards
Neteller
Skrill
Wire transfer

If traders are looking for brokers with elite class regulations, Axi can be the right choice. Axi is an Australian broker registered under ASIC and FCA. This is the main point because the two regulators are widely recognized to have strict regulations.

"Created by traders, and for traders" is a mission carried by Axi since its foundation in 2007. They continue to strive to accommodate the needs of traders. Axi had the strongest brand association with being "trustworthy" among current FX Traders in December 2014.

In addition, Axi also received other awards, including the most reliable Forex Broker 2017, Highest Overall Client Satisfaction Investment Trend 2017, Commenced back-office operations in Philippines, Cyprus & Singapore 2018, Best MT4 Broker 2018 by the UK Forex Awards, and the Most Trusted Forex Brokers by the 2018 Forex Forex Awards. With the various achievements that have been obtained, Axi seeks to build the confidence of traders from all over the world.

Traders can monitor the movements of spreads on Live Spreads, which are provided by Axi on its official website. These floating spreads are beneficial for traders when price volatility is not high.

In addition to spreads, the difference is also seen in the commission on each account. There is a commission of around USD7 for Pro Accounts, whereas, for Standard Accounts, traders do not need to spend funds for commission.

Meanwhile, the minimum trade size is 0.01 lots and leverage is up to 1:400. Traders can choose their deposit amount because Axi does not specify a minimum amount. Instead, traders have the opportunity to profit when trading on Axi with a 20% deposit bonus. Opportunities to open positions thus increase, accompanied by deposit bonuses that can be withdrawal easily and quickly.

There are around 80 currencies and CFDs traded on Axi. Besides, the company also offers traders looking for diversified investments in other assets like gold, silver, oil, and 11 indices. To attract the attention of traders from various countries, Axi also provides a variety of currencies that can be used by traders as base currency, including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD.

Traders at Axi can enjoy free VPS provided by third parties by depositing a certain amount. The Virtual Hosting Service uses an external server to ensure the platform stays running 24 hours a day and prevents Downtime. Of course, this service is very useful for those who use Expert Advisors.

When trading forex, chart analysis becomes an unavoidable activity. Traders do not need to worry about that when trading with Axi. Because one of the advantages of the Axi broker is Autochartist signals. This facility is useful for following market movements precisely. For traders who use MT4 Standard Account and MT4 Pro Account, they will get Autochartist signals for free.

Besides being able to easily understand the pattern of price movements through Autochartist, Axi also provides easy access to sophisticated trading tools under the name of MT4 NexGen. The advantage of this platform is to find out trading sentiments, Market Insights, Correlation Traders, and Alarm Managers. With this technology, traders can easily access super-fast networks and can handle any high-frequency inflows to scalping.

Traders can also add knowledge about forex trading with the Webinar facility, which is provided by Axi for free. Professional traders and experienced analysts will provide traders with a variety of new trading knowledge in this education program.

Not only that, opening an account in Axi can lead to other experiences such as copying trading strategies from professional traders, with tools like as DupliTrade, Myfxbook, and ZuluTrade. Traders are free to copy trading strategies from professional traders and apply them to their own trade.

If there are still other questions, traders can contact Axi support that is active 24/5. Their staff comes from all over the world, so they got a global team that speaks traders' language from various countries in the world.

 

XM

XM is another top broker to choose from. Founded in 2009, the broker offers more than 1,000 tradable assets which include forex and CFDs. As a global broker, XM is available in 186 countries with over 3,500,000 users worldwide. The minimum deposit is $5 and the maximum leverage is 1:888. Traders can choose to use MetaTrader 4 or 5. Some of the payment methods available are bank transfer, debit/credit cards, Fasapay, Neteller, Skrill, and more. One of the biggest benefits of trading with XM is that you can get a free Virtual Private Server (VPS) for accounts with a minimum balance of $5,000.

Website
www.xm.com
Spread
Variable
Regulation
ASIC, 443670
Min Deposit
$5
Established
2009

Interest rate on funds
Bonus offers
Free education
Personal manager
Trading by telephone
Segregated accounts
Affiliate program
Islamic accounts available
Requires sending documents via postal mail
Payment
CashU
Credit/debit cards
FasaPay
giropay
iDEAL
Moneta.Ru
Neteller
paysafecard
QIWI
Skrill
SOFORT
UnionPay
WebMoney
Western Union
Wire transfer

Established in 2009, XM is a member of an online brokerage company called Trading Point of Financial Instruments Ltd. In providing clients on a global scale, the company has branched into XM Australia and XM Global, and XM Cyprus. Each member has different headquarters and licenses, with XM Australia registered under the Australian Securities and Investment Commission (reference number: 443670), XM Global under the IFSC (60/354/TS/19), and XM Cyprus under the Cyprus Securities and Exchange Commission (reference number: 120/10).

XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.

In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Commodities, Equity Indices in CFDs, Precious Metals, Energies, to Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.

Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. Instead of providing maximum leverage on the scale of 1:500 or 1:1000 (round numbers), XM chooses to limit their leverage on a 1:888 scale, a unique number that is now widely recognized as XM's trademark.

To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. The deposit starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.

For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.

XM also provides an Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).

All in all, there is no doubt that XM has gone global with its deep commitment to providing trading services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.

 

Admirals

Established in 2001, Admirals has grown into a major broker with over 10,000 users across various countries. The broker is considered safe and reliable based on its experience and licensed service. There are more than 100 tradable assets offered including forex, indices, metals, stocks, ETFs, and CFDs. The minimum deposit is $100 and the maximum leverage that you can get is 1:500. In Admirals, traders can either use MetaTrader 4 or MetaTrader 5. Both are available for desktop, webtrader, mobile, and extra plugins.

Spread
Fixed and Variable
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

 

FXOpen

FXOpen is a global multi-asset broker that was established in 2003. The company is available in 194 countries with over 10,000 users worldwide. There are over 100 tradable assets available for traders including forex pairs, indices, commodities, metals, stocks, and crypto. Other than regular forex trading, the broker also supports social trading and PAMM service. The minimum deposit is $1 and there are various account types to choose from, signifying its commitment to support all types of traders. Additionally, the broker also offers a wide range of payment methods, including bank wire, VISA Mastercard, Neteller, Skrill, Webmoney, Unionpay, and more.

Scalping, hedging, and news trading with EAs are all allowed in FXOpen. However, there are some limitations if you do scalping with small lot sizes. Both MetaTrader 4 and 5 are available and can be accessed via desktop, webtrader, and mobile.

Website
fxopen.com
Spread
Variable
Regulation
ASIC, 412871
Min Deposit
$1
Established
2003

Bonus offers
Trading contests
PAMM accounts
Managed accounts
Affiliate program
Islamic accounts available
Payment
Apple Pay
Bitcoin
Bitcoin Cash
CashU
Credit/debit cards
DIXIPAY
Ethereum
FasaPay
IntellectMoney
Liqpay
Litecoin
Local bank transfer
Neteller
Payza
QIWI
RBK Money
Skrill
Tether (USDT)
UnionPay
WebMoney
Wire transfer
YooMoney

FXOpen started its operation as an online trading provider for retail clients since 2005. The company was founded by a group of traders with a mission to provide services that refer to the interests of traders. FXOpen claimed to be one of the firsts to offer ECN trading via MetaTrader 4 (MT4). With FXOpen's unique proprietary price aggregating technology, their clients can benefit from the industry's most competitive spreads (from 0 pips) and low trading commissions.

In 2006, FXOpen also became the first broker to offer a micro account and a swap-free account. After that, they continue to be the pioneers of several new and high-tech services, including the first Crypto account that can provide trading facilities on 24 Cryptocurrency pairs such as Bitcoin, Litecoin, and Ethereum.

Furthermore, the company provides One Click Trading and Level 2 MT4 plug-ins, enabling traders to place trades with just one click of the mouse. Traders do not need to worry about trading security at FXOpen. They have registered in Nevis, the UK FCA, and ASIC Australia.

A variety of trading accounts are provided such as STP, Micro, ECN, and free unlimited demo accounts. The minimum deposit for each account depends on the account type; USD1 in Micro Account, USD10 in STP and Crypto Accounts, and USD100 in ECN Accounts. As for leverage, FXOpen offers up to 1:3 (for Crypto Accounts), and up to 1:500 (for Micro, STP, and ECN Accounts).

Besides, traders can enhance their trading capabilities with Myfxbook and Zulutrade automated trading systems. Both of these services allow anyone to copy the transactions of experienced traders. Thus, traders can replicate the results of professional traders' strategies.

The FXOpen PAMM Service allows copying trades from a Master account to one or more than one Follower account and automates the distribution of profits and losses. The Master operates personal capital through a PAMM account, and his trading strategy is replicated to the Follower's capital. The owner of the Follower account can view and analyze the performance of the PAMM account with the help of advanced analytics. There are 3 PAMM accounts in FXOpen, namely STP, ECN, and Crypto PAMM.

On ECN accounts, traders will get direct price quotes from leading liquidity providers, including Dresdner, SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JP Morgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI, and UBS. This is one of the reasons why FXOpen's ECN account has become a trader favorite.

After seeing the various advantages offered by FXOpen, traders can easily register an account, simply by filling out the form in the registration menu on the FXOpen website. Traders will be asked to verify documents in advance if the trader will make a deposit or withdrawal of funds. Based on traders' experience and information since FXOpen was founded, there have not been any major complaints about payments (depositing or withdrawing funds) from clients.

Once registered with the FXOpen broker, traders also have the opportunity to get other benefits. One example is the FXOpen cashback program for the first 90 days from registration as a new client. The minimum cashback is USD5 and the maximum is USD1,000.

Furthermore, free VPS is available for ECN, STP, and Crypto account holders. Traders can use FXOpen VPS without any fees for 1 month if they can maintain equity of USD5,000 at the end of the month or trade with a trading volume of USD10,000,000 per month. The advantages of VPS on FXOpen are excellent accessibility, flexibility, and speed.

Trading on FXOpen is made easier because traders can add insight into trading by entering contests. FXOpen Broker offers weekly and monthly trading contests on demo accounts through the ForexCup.com site. Traders can join competitions that are free of charge to hone their skills. If a trader wants a bigger challenge, there is also a trading contest on a real account.

The company also offers Forex partnership programs to traders, Forex brokers, and website owners who publish information about fiat and crypto-currency trading. There are 3 types of partnership levels, including Forex IB (Forex Agent) that attracts new clients to FXOpen using a referral (affiliate) link, Forex Rebate, and individual partnership conditions.

In Conclusion, FXOpen is a well-rounded forex brokerage for traders with a desire to try various trading instruments, a trading environment in ECN account, low minimum deposits, the best cryptocurrency trading condition, as well as interesting trading features like PAMM and demo contests.

 

Pepperstone

Pepperstone is a top global broker that was founded in 2010. The Australian-based broker offers more than 100 tradable assets and various trading accounts. Pepperstone offers three types of trading platforms, namely MetaTrader 4, MetaTrader 5, and cTrader. Some of the advantages offered in this broker are the support for hedging and scalping strategy, as well as the negative balance protection.

Spread
Variable
Regulation
ASIC, 414530
Min Deposit
$200
Established
2010

Free education
Trading by telephone
PAMM accounts
MAM accounts
Segregated accounts
Affiliate program
Islamic accounts available
Payment
Credit/debit cards
PayPal
UnionPay
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).

During 20 years of experience in the forex industry, there are about 2 million traders choosing Alpari as the broker to trade with. Alpari has a head office on the 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius. The company is regulated in St.Vincent and the Grenadines (the licensed number is 20389 IBC 2012), IFSC Belize (the licensed number is IFSC/60/301/TS/18).

This broker uses MetaTrader 4 and MetaTrader 5, both of which offer great flexibility, charting tools, and an easy-to-use interface. For higher volumes, the company also provides the Alpari International Direct platform which offers enhanced features for advanced investors.

The company offers an array of live trading accounts to choose from. Each one offers different opportunities and allows traders to trade in different ways. All of their accounts use USD, EUR, GBP, and NGN as the options for base currency. But, NGN accounts are only available to clients in Nigeria.

Each kind of account has a different spread. At Standard Account provides spreads from 1.2, the spread of Micro Accounts is from 1.7, and ECN Account and Pro Account have spread from 0.4. A trader can open an account in Alpari and opt to trade currencies (FX majors, FX minors, FX exotics, and FX RUB), spot metals, spot commodities, stock trading, spot indices, and crypto-currencies.

A trader can find out what the minimum spreads, pip value, swaps, and trading session times are for each instrument before start trading. If the trader is still not sure where to begin, they can found the answer in a guide provided by Alpari on their official website.

Their guide to trading is designed to break down the terminologies and answer the most frequently asked questions by traders. A trader will be trading more quickly and with more confidence in no time.

Besides, Alpari offers PAMM (Percent Allocation Management Module) which allows a trader to choose their desirable Account Manager. This allows traders to have a chance in gaining more profit without advanced knowledge of forex trading. These managers usually have a wealth of experience in the markets, with tried-and-tested strategic trading decisions.

This program also gives opportunities for well-seasoned traders to become Strategy Managers. As Strategy Managers, they can use their trading experience and earn more from profitable trades. They have privileged access to Alpari's advanced programs and all the tools they need to cultivate a massive following of investors. The investors then will help Strategy Managers to earn more through commission fees up to 40%.

Their website also provides various Forex Trading Strategies. Because to increase the chance to profit, it's important to know as much about the markets and the trading strategies behind them as possible. Alpari believes that strategies provide traders with a roadmap for trading, reducing panicked decision-making that can occur in the heat of the moment. In other words, trading in Alpari allows traders to learn about any kind of forex trading strategy.

For educational purposes, the company provides Trading Webinars, one of the variants of technology that allows users to hold seminars, talk shows, and discussions online, without having to communicate face to face.

Alpari creates a very convenient funding and withdrawal experience for each trader. A trader can transfer with any kind of methods, such as e-payment (example: FasaPay, Local Transfer, TC Payment, etc), credit cards (Visa, Mastercard, and Maestro), E-Wallet (Neteller, Skrill, VLOAD, TC Pay Wallet, WebMoney, Perfectmoney, Bitcoin), and bank transfer. If there's been no trading activity on the trader account for at least 6 months, an inactivity fee of 5 EUR/USD/GBP will be applied.

All Back office transfers are processed during standard business hours, 03:00-19:00 GMT+2 (GMT+3 during DST), Monday-Friday. If traders still feel confused, they can contact Alpari's team by any method, such as Live Chat, Telegram, or email.

 

Global Prime

Global Prime is a well-known multi-asset broker that has been around since 2010. There are at least 128 tradable assets including forex, indices, gold, silver, and cryptocurrencies. To open an account, you would need to deposit at least $200. Other than forex trading, the broker also supports spread-betting and share dealing. In this ASIC-regulated broker, you can trade with MetaTrader 4, which is available for desktop, mobile, and webtrader.

Spread
Fixed
Regulation
ASIC, 385620
Min Deposit
$200
Established
2010

Trading contests
Free education
Segregated accounts
Affiliate program
Payment
AliPay
AstroPay
bitwallet
BPAY
Credit/debit cards
Dragonpay
FasaPay
Local bank transfer
Neteller
PayPal
Skrill
UnionPay
Voucher
Wire transfer

 

Final Words

In conclusion, Expert Advisor is a computer program that can automate your trades. A reliable Expert Advisors can be useful especially if you have a tight schedule and require some help to monitor the trades for you. However, keep in mind that this does not mean your trades will always be successful. Similar to trading strategies, not all EAs are effective. This is why it's highly crucial to test it out before trusting it completely. In addition, it's also highly recommended to use VPS to avoid failures and other issues.