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Forex Brokers with the Highest General Rating

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Score Broker General Rating Min Deposit Regulation Country
145
IC Markets
IC Markets
$200
ASIC
Australia
64
Exness
Exness
$10
FSA (Seychelles)
Seychelles
11
eToro
eToro
$200
CySEC
Cyprus
52
FBS
FBS
$5
ASIC
Australia
162
XM
XM
$5
FCA
United Kingdom
7
Pepperstone
Pepperstone
$0
ASIC
Australia
684
AvaTrade
AvaTrade
$100
Financial Futures Association (Japan)
Japan
703
Octa
Octa
$25
CySEC
Cyprus
396
FP Markets
FP Markets
$100
ASIC
Australia
706
FxPro
FxPro
$100
FCA
United Kingdom
53
OANDA
OANDA
$0
CFTC/NFA
United States
144
RoboForex
RoboForex
$50
Belize Financial Service Commission (FSC)
Belize
1
FXTM
FXTM
$10
FSC (Mauritius)
Mauritius
723
Admirals
Admirals
$1
ASIC
Australia
120
ThinkMarkets
ThinkMarkets
$0
ASIC
Australia
249
FXOpen
FXOpen
$1
FCA
United Kingdom
273
Eightcap
Eightcap
$100
ASIC
Australia
773
JustMarkets
JustMarkets
$1
FSA (Seychelles)
Seychelles
98
DeltaStock
DeltaStock
$100
FSA (Denmark)
Denmark
70
HF Markets
HF Markets
$0
Capital Markets Authority of Kenya
Kenya


Additional FAQ

In general, compared to scam brokers, honest brokers are more clear and straightforward in most aspects of their facilities. Other than that, some of the more specific characteristics in an honest broker are:

  • Clear regulations and office addresses.
  • Responsive customer support, at least in the working days.
  • The trading facilities provided are transparent and synchronous.
  • The website is well-maintained, updated, and equipped with a disclaimer that the profit in forex trading is proportional to the risk.
  • The broker is recommended by other traders or trusted sources. For example, the regulation can be cross-checked, the name often quoted by famous news agencies or positive reviews from clients.
  • Withdrawals are processed with minimum or no difficulties.

Continue Reading at 4 Common Types of Forex Broker Frauds

A good broker must be able to ensure the safety of the client's funds. Aside from obtaining licenses from trusted authorities, it's also important to have preventive measures that could save traders from doom. One of the easiest examples is negative balance protection, which ensures that traders are never in debt with their broker. In other words, the trader's balance will never be negative. This is why it's an important aspect that every good broker must have.

Some traders may not find this feature that significant, but it's something that many people would be grateful for. The truth is that there have been many cases where traders ended up owing money to their brokers. To prevent a repetition of similar events, the availability of negative balance protection can be very helpful.

Continue Reading at 5 Things to Rate in Forex Brokers Quality

Trading conditions are a great way to start because they are basically the foundation of the broker service itself. This includes the amount of trading spreads and commissions, leverages, and more. Trading conditions can directly impact the trader's overall trading cost, making it a critical aspect of any broker's selling value. Great pricing must be one of the top priorities to offer to potential clients, especially with the cut-throat competition between brokers these days.

Moreover, since standard regulations are starting to take effect, regulated brokers can no longer offer fantastic bonuses or exaggerated promises of high returns. Instead, they can offer low fees to reduce the trader's cost, combined with a transparent trading ecosystem and no hidden fees.

Continue Reading at 5 Things to Rate in Forex Brokers Quality

Because it is almost impossible for promotional websites and paid reviewers to mention a negative review about a broker.

While a genuine reviewer can also leave a positive review and praise the broker for their services, they would state the reasons clearly instead of just saying how good the broker is, and maybe add some flaws that the broker has despite the other excellent services.

Keep in mind that getting negative results in the reviews does not necessarily mean that the broker is straight unsafe or bad. It shows the reality of how forex brokers offer their service; there will always be a trade-off that traders need to weigh on carefully.

In fact, showing just the positive side of a broker is not realistic and may seem dangerous since it is just what a scammer would definitely do to attract clients.

Continue Reading at How to Avoid Fake Broker Reviews

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