LIVE CONTESTS Live Trader Contest NEW. Automated trading Strategy Contest. SWFX TRADER. For forecasters. Online News. Miss Dukascopy. Miss Dukascopy Visit contest's page. Code of Conduct Code of Conduct. Have a question? Contact Us Report an issue. Log in Register. Forex Trading can be fun and social! Become part of the community to gain new knowledge and connect with fellow traders. Take part and win cash prizes!

We have plenty of contests for you to choose from, all with cash prizes. Join Community. Community contests. In order to really know which broker has lower spreads compared to the competition, we obtained average spread data and factored in any per-trade commissions to arrive at the effective spreads, which allow you to determine your true trading costs.

Tickmill provides the tightest spreads averaging 0. com Annual Broker Review, after factoring in trading costs i. FP Markets follows closely in second place, also offering a nearly zero pip spread with a small commission added per trade. Pro tip: When measuring forex spreads, the most accurate way to determine which broker has the tightest spread is to calculate the average spread for a given period -- such as one month.

In addition, it is important to factor in the trustworthiness of the broker, to ensure you are provided with the best execution to pay the spread you deserve and avoid pitfalls like asymmetrical slippage.

Other brokers might advertise a lower spread, but end up being more expensive because they charge a higher commission or have higher average spreads. While it's nice to avoid fees, a zero spread account can still end up costing you a per-trade commission, and even worse -- spreads can potentially widen in a zero spread account even if it is commission-free. Depending on your strategy and trading needs, a zero spread account might not be good for you if certain order types or execution methods are not available.

The key is knowing what the average spreads are, and whether there are any per-trade commissions -- this allows you to calculate the effective spread. No, forex trading is conducted from within a brokerage account, which provides you a certain degree of leverage margin , along with access to a trading platform and a range of currency pairs.

You should always choose trusted forex brokers that hold proper regulatory licenses to avoid becoming a victim of scams. Pro tip: For cryptocurrency users looking at forex trading with stablecoins, a decentralized exchange is also not a suitable option for forex.

Spreads can be significantly wider, and there is no mechanism to ensure the best execution even if zero spreads are advertised -- which could result in extreme slippage. IC Markets is an excellent forex broker for scalping. IC Markets is used by a significant number of algorithmic traders and provides access to cTrader and MetaTrader.

These platforms allow you to run automated high-frequency trading programs such as scalping-based strategies and can even place orders in between the spread. And IC Markets' Raw Spread Account features zero spreads, plus commission. Pro tip: Whether brokers claim to offer Straight Through Processing STP or an Electronic Communications Network ECN , these descriptions are not as important as how your broker's business model actually operates, including its order execution policy during fast markets when spreads can widen.

A standard account refers to the smallest trade size of , units of currency, which is also known as a standard lot size. Pro tip: In most cases, raw spread forex brokers will add a per trade commission to make money or act as market makers. Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking.

Was this helpful? Yes or No. At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score.

We conduct meticulous research that covers the entire spectrum of industry fees and commissions in order to provide the most accurate, up-to date information on the costs of using the online brokers that we review. All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than. Click here to learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.

as a Commodity Trading Advisor CTA. Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time. He heads research for all U. com and is respected by executives as the leading expert covering the online broker industry. John Bringans is the Senior Editor of ForexBrokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money. Home Forex Guides Directory. November 10, Pros Highly competitive pricing Above-average research and education offerings Cons Small range of markets available for trading. Pros Very competitive spreads Industry-leading pricing on MetaTrader Cons Room for improvement in education Mobile trading app lacks features offered by industry leaders.

Pros Low trading costs Excellent web and mobile platforms Robust research materials Cons Educational offering could be improved MT4 offering limited to 62 symbols. Pros No. Pros Longstanding history offering services across global markets Cons Expensive compared to industry leaders Subpar research and education. Pros Robust platform for professional traders Wide range of global markets Thorough research offering Cons Trader Workstation platform is likely too complicated for inexperienced traders.

Excellent education, most trusted Minimum Initial Deposit £ Pros Outstanding platforms and tools Over 19, tradeable instruments Competitive pricing Cons No predefined layouts on the flagship web platform Limited product range on MT4. Is there a broker with 0 spread? How do you compare zero spread accounts? Should I choose a zero spread account?

Pros of zero spread pricing: A scalping strategy or other high-frequency trading program based solely on latency, or price delays that cause arbitrage, will likely require that you have lower costs i. Cons of zero spread pricing: Conversely, other high-frequency algorithmic trading based on technical indicators can perform better on zero spreads, even if there are execution delays or price requotes during fast markets.

However, this potential slippage also means that the effective spread can be greater than zero if your order is filled at a worse price. About zero spread forex brokers A zero spread forex broker attempts to offer a spread of zero pips. Zero spread investment offerings comparison Using our forex brokers comparison tool, here's a summary of the spread pricing offered by the best zero spread forex brokers. Submit Details. Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.

Blain Reinkensmeyer Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time.

Written by Steven Hatzakis , Blain Reinkensmeyer Edited by John Bringans Fact-checked by Joey Shadeck. The ForexBrokers. com annual forex broker review six years running is the most cited in the industry. With over 50, words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test. Almost everyone on the planet has a smartphone, but not all mobile apps offer the same forex trading capabilities.

This trading guide covers which brokers offer the best forex trading apps in For our Annual Review, we tested and scored the forex trading apps of 39 different brokers. To rank each mobile trading platform, we assessed over a dozen individual variables.

Competition remains fierce among trading apps, and it was a tight race for the best-in-class winners. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read full review. IG offers an impressive suite of proprietary mobile apps, led by its flagship IG Trading app also known as IG Forex , which boasts a well-designed layout teeming with features such as alerts, sentiment readings, and highly advanced charts.

CMC Markets' mobile app is cleanly designed and comes packed with research tools, powerful charts, predefined watchlists, integrated news and educational content, and much more.

Bottom line: CMC Markets delivers a terrific mobile app experience. There are complex order types for forex trading, over 70 tradeable currency pairs, and advanced charting.

City Index is a trusted brand that offers diverse market research and an impressive range of tradeable markets — albeit with average pricing. A trusted global brand, OANDA stands out for its reputation and excellent market research.

It offers the MetaTrader 4 mobile app, alongside its own easy-to-use fxTrade app, which provides quality market research and excellent charting features. Using our forex brokers comparison tool, here's a summary of the features offered by the best forex trading apps. When choosing a new forex broker account for online trading, consider these five areas of the trading experience:. No, there is no official app or website because the foreign exchange forex market is decentralized — that is, there is no single location or site for the market.

The forex market consists of central banks and financial institutions such as brokers, dealers, banks, and corporations. Read more on Wikipedia. Many trustworthy forex brokers do offer mobile apps for trading.

There is a wide selection available, including apps that are developed by brokers in-house, as well as apps from third-party developers. To avoid scams, you should only use regulated banks and brokers that are properly licensed to offer forex trading services in your country of residence. For example, if you live in the U. There is no official forex trading app or website, as the forex market is made up of a collection of banks, brokers, and other dealers; each may offer its own trading software.

Note: If you're looking specifically for the broker FOREX. com , it offers both a proprietary app, called FOREX.

com mobile, and the popular MetaTrader 4 MT4 offered by many brokers. In our Mobile category, Saxo Bank is our top pick due to its unified platform experience across devices, including a mobile app that syncs trendlines with its web platform counterpart.

Our testing found that IG offers the best smartphone app — IG Trading — for forex trading in IG is regulated globally, and its IG Trading app provides access to a variety of quality trading tools alongside multiple news sources for researching trading opportunities. Charting on the IG Trading app is also rich with features. For forex trading, you can't go wrong with Saxo Bank's SaxoTraderGO app or IG Trading from IG. The MetaTrader platform suite — available for mobile — is developed by MetaQuotes Software Corporation and is the most widely used app for trading CFDs, forex, shares, and other asset classes.

There are two versions of the MetaTrader app for both Android and Apple iOS devices — including the MetaTrader 4 MT4 app as well as the newer MetaTrader 5 MT5 app, which continues to gain adoption. Learn more about MetaTrader 5 and find a great forex broker that offers MT5 by checking out our full MetaTrader 5 guide. While MT4 and MT5 are incredibly popular due to their wide availability, many of the best mobile apps are developed in-house by some of the best online brokers, such as Saxo Bank and IG.

The IG Trading app is an excellent choice for beginners, due to its range of tools, integrated content, and the ability to access educational material from IG Academy and DailyFx it even has a standalone mobile app for education. IG is a leader in education, making its IG Trading mobile app the best forex trading app for beginners in As an alternative, Plus 's easy-to-navigate app provides the essentials for trading, and makes viewing available markets a breeze. That said, just because an app is easy to use doesn't mean it is easy to make money.

New to trading forex? Check out our guide to trading forex for beginners here. We'll help you pick a forex broker that's great for beginners, and go over some of the forex fundamentals to help jumpstart your forex education. Which trading app is most profitable? No single mobile trading app can claim to be more profitable than another, because profitability is determined by the outcome of the individual trading decisions you make regardless of the app you use. That said, it does potentially increase your probability of success when you have access to the latest trading tools and cutting-edge software.

That's why many of the most successful traders only use the most trusted brokers — who also happen to have excellent mobile apps. Here are our picks for the top mobile trading apps in Yes, if you have a modern smartphone running either an Android or iOS operating system, you can install forex trading apps on your phone. After opening the app, you can log in to your forex account and begin trading from your phone. Yes, and you shouldn't pay for any courses as there is plenty of high-quality free education available directly from most online brokers, as well as third-party websites our favorite is BabyPips.

However, forex trading is not easy — the majority of traders lose money. To be successful in trading forex, you must learn how to manage risk properly, depending on your goals and the strategy you choose to follow or develop. First, open a free demo account and trade using fake money to learn how the trading platform software works.

To make money trading forex, work towards keeping your average losers small relative to your average winners. This old adage says it best: "Cut your losers short and let your winners run.

First, select a trustworthy U. forex broker regulated by the Financial Conduct Authority FCA. Our guide to the Best U.

Forex Brokers is a great starting point for finding a U. Next, open and fund your new brokerage account, and fill out the order ticket to place a trade. Most online brokers offer demo accounts so you can practice with virtual currency and become familiar with how the trading platform works before funding your account with real money.

More details: Choosing an FCA-regulated broker will ensure that you are entitled to any applicable legal protections. To be FCA-regulated in the U. Looking to trade more than just forex in the U. Our sister site, UK. com , can help you find the best U. While only a select few will reach elite trader status and turn over billions of dollars in trading volume, there are many successful traders who make money from trading forex and CFDs.

The key to building wealth while trading forex is to keep your average losses low, relative to your average profits. There is no get-rich-quick scheme for trading forex, and it isn't a way to make fast money unless you take extreme risks and bank on luck — which is more akin to gambling than investing.

First, compare forex brokers that are regulated in your country of residence. Next, apply for a new account, fund, login, and fill out the order ticket to place your trade. More details: Open a free demo practice account to learn how the trading platform works.

Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking. Was this helpful? Yes or No. At ForexBrokers.

com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers.

Each year we publish tens of thousands of words of research on the online forex brokerage industry. Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources — among other important variables.

We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms. Ultimately, our rigorous data validation process yields an error rate of less than. Click here to learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.

Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA.

This included North America, Western European countries, Australia and Japan. Irrespective of which pairs you prefer to speculate on - make sure that your chosen currency trading app supports it. Honestly, it really sucks. For example, it's really easy to find your preferred forex pair, and placing orders via your phone is straightforward. Saxo Bank. FP Markets. The forex trading industry is heavily regulated in most countries around the world.

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