Category Archives: Forex Broker

Best Forex Broker

3 Quick Tips for Choosing the Best Forex Broker

To run a forex trading business successfully, it is really important to have the best forex broker. These days, a lot of people are considering getting involved in the forex business because of the opportunity it offers for making money. But, with a good broker, trading strategies and trading system, it is hard to make any money at all. In fact, you will be losing what you have invested.

    Best Forex Brokers

  • DukasCopy: This Swiss forex broker has excellent reputation as one of the best online forex brokers.
  • Forex eToro: If you can’t afford to go for dukascopy, then you may consider eToro.

Now, when it comes to choosing a broker, here are some tips that can help you make the right decision.

With so many brokers already making their places in the currency trading market, it is important to get hold of someone who has a good reputation. You can find a lot about the reputation of different brokers on review websites and forums. These reviews are usually posted by people who have had experience trading with certain brokers. These are unbiased and will tell you exactly what you can expect from the brokers. You will also get an idea whose services are the best and who all are fake.

The broker you choose should be regulated. There should be regulatory authorities in his country that monitors their activities. The best forex brokers would conform and adhere to the rules and regulations of the industry.

Pip Spread
Forex brokers charge commission based on the pip spread difference of the trading currency pair. This value will be determined by your broker and most of the time they change it to suit their interest. When they fix a greater fix spread, they will be making a huge commission on the currency you trade and you will be making less. Therefore, to maximize your profit, look for a broker who has low pip spread and has the value fixed.

These are some of the tips that you can use to get the best forex broker. For a more detailed explanation see our guide on how to choose the best forex broker here.


Finexo is an online Forex broker that offers web based Forex trading. In this Finexo review we will examine the features of Finexo and review their performance based on actual customer reviews.

Finexo Review:
It is pretty easy to open a currency trading account at Finexo. They have different account types that cater to various levels of trading: beginner, intermediate, and expert.
Supports lot of Currency Pairs: Finexo offers trading in more than 155 currency pairs including the most commonly trades pairs which allows you to trade flexibly and maximize earning potential.
Secure Transactions: One of the important features we look into a forex trader is their security features and we found that the Finexo firewall system is 100% secure. You don’t need to install any software as the web based trading platform takes care of it for you..
Apart from this Finexo also provides online tutorials and daily forex reports.

Easy Access to Finexo Broker   |   Get Finexo Demo Account


Dukascopy is a Swiss Forex broker that is unique in the sense that it utilizes the financial security of private Swiss banks, as well as the Swiss Foreign Exchange, for trading. Accounts for this exclusive broker will require at least $5,000 to start.

Dukascopy Review
Dukascopy accounts boast of many features, such as high funds security, ECN liquidity, . Private Swiss Bank services, arguably some of the best bank services, are also included. There is also access to exclusive Forex news and analyses, and a 24/6 tech support system available.

For those wishing to test the broker, Dukascopy offers a 14-day demo account. The amount of this account is variable depending on your chosen trading situation: you may go as low as $100,000, or as high as $5,000,000 when testing the waters.

Dukascopy announced the new minimum deposit conditions for retail clients following contstant investor demands. From 15 March 2010 onwards trading is available starting from deposit of USD 1’000.

Visit the Official Website of Dukascopy

Best Forex Platform

The best forex trading platform will be the one that satisfies both brokers and currency traders. Brokers need a forex trading platform that is reliable, flexible to their needs and easy for their customers to use. Traders give more importance to user-friendliness as well as reliability of the forex platform.

Forex Platforms for Brokers

Large financial organizations who are the key players in forex market have custom built trading platform for their use. Currency trading is a multi billion dollar business for these financial institutions and they want the best forex platform to ensure good returns on their investments. Usually these big players in forex market will take a look at the forex platforms of their competitors and then aim to develop a forex trading platform which is better than others. The expenditure of building a custom forex platform is definitely high. Since software development is process that mostly takes longer time period than estimated their can be always time delay in creating a custom forex platform.

Unlike large financial institutions, smaller brokers cannot usually have the funds for developing custom forex software platforms. As an alternative, the small brokers could buy a forex trading platform that is ready to use out of the box. However, many of these out of the box solutions are not reliable and experienced traders will identify this and may stay away from brokers who are using these solutions. Currency trading is a big business and if a brokerage company is not ready to invest money on a reliable trading platform the traders will not have confidence in that broker.

Finding the middle ground that works well for Fx brokers is to obtain a readily available forex platform and then have a programmer customize it for you. The software engineer could include more forex charts and add some technical analysis options which are not available with other brokers. Of course those additional forx charts and technical analysis functions should be useful for the traders. You may also modify the visual aspect of the trading platform by including your company logo and change the colors of the interface to match the company website etc. Thus a trader will feel that the broker is offering a unique forex trading platform without the broker spending huge amount of money for custom forex framework software.

Forex Platforms for Traders

Traders primarily seek for ease of use and accuracy of information which can directly affect the profitability. Usually small individual traders will utilize whatever trading platform their broker provides. For many traders the platform is more important factor than the cost when selecting a forex broker. Many traders go for brokers with a bigger spread for the sake of the accurate forex charts and signals (Forex Ambush 2.0) which they require to run a profitable forex trading system.

Many skilled traders who have developed their own profitable forex trading system might create automatic trading robots like Forex Derivative. The currency traders who employ automatic forex systems or forex EA for trading will need a forex platform on which their forex trading software can function. Nearly all of the widely used forex trading robots like Forex Autopilot and FAP Turbo are developed to run on the famous Metatrader 4 forex platform. Keep in mind that the trading robots can’t be installed directly on windows or Mac software. They require a forex platform like Metatrader 4 which is a software frame work which can be downloaded for free and installed on your PC prior to installing the robot.

Both manual trading systems like Forex Confidante and automated trading software have their advantages. Auto trading robots have the ability to open and close trades automatically when the software identifies a winning trade while manual trading works best when the market is controlled by human emotions. Many currency traders are now going for forex brokers who offer Metatrader4 platform since they can run these auto trading robots as well as perform live manual trading online.

Forex Brokers: How to Select the Best?

During the recent years, there is big influx of Forex brokers that cater to the home investors like you and me. Some of these forex brokers have good reputation among currency traders while there are also foreign exchange brokers which are bucket shops and scams. Hence it is important that you take your time to select the right forex broker for all your currency trades to avoid the scams online.

How to Select a Forex Broker?

All of us start forex trading with the hope of making lot of money. Many of us like the idea of trading currency online to gain huge returns on our investment. The advertisements and articles we come across on websites online make this sound almost inevitable. However you must know that forex trading is full of risk and lot of people get their fingers burnt if you do not have good forex trading system in place. You could simply lose your initial deposits, particularly if you start trading too early.

Risk Factors
When you are considering a forex broker, check his website to see if the broker is stating the risks visibly. If a forex broker is trying to hide the risk factors or even mentioning it anywhere on his site, it is an indication that the broker is trying to get your money rather than helping you to make money. If you are new to currency trading you should perhaps seek a foreign exchange broker who will shield you from margin calls by automatically closing your trades in case your funds become exhausted. Although this is a terrible condition that you will wish to avoid, it is better than losing lot of money with a broker, to whom you are committed to paying more than you had in your forex account.

Stop Loss
Currency trading is frequently done with leverages. Traders go for 100, 200 or even 400 times leverage with the hope of making maximum profits. This means that your can trade or control 100-400 times funds what you have in your forex account. But big leverage means bigger risks which can result in big profits as well as heavy loss. For instance, if you have $200 funds in your forex account you can trade lots of $20,000. So when you make profits you will make 100 times, but if the price moves against your expectations, you could be down by much more than $200. In order to avoid this you can put your own stop losses into place. However it is valuable to go with a forex broker who will do this in case you overlooked the stop loss which can happen once in a while.

Forex Charts
A forex broker might provide you a range of services including forex signals, charts and technical analysis through their forex platform. You might want to do a comparison between the forex charts provided by the different brokers to make sure that which broker provides the chart which you need and will be helpful for you in future. Consider how you would like to utilize and combine these forex charts and make sure that the broker of your choice is providing what you want.

Reliability of Software
Dependability of the broker’s software platform is another factor you must consider. If the software is not reliable it could freeze or go offline and as a result you could lose the ability to control the trades properly. The forex broker company’s own forum is the best place to find out if the users are happy with the reliability of the software platform as well as support provided by the broker. In case the broker doesn’t have a support forum open to public, other popular forex forums can also be used to find opinions, but some times you will find opinions from people who never used the particular broker and this won’t help us. You know that currency trading market is live 24 hours a day for 5 days during the business week and you should be able to get support from the broker for 24 hours too.

Low Spreads
Forex traders make their money from spread(also see Forex PIP), which is the difference between the selling (bid) price and buying (ask) price. Most traders consider the spread while choosing a forex broker account since lower the spread lower the money you will have to part with the broker. This is especially true if you are using a forex trading software like FAP Turbo or Forex Autopilot. However just because a forex brokerage company claims that they offer low spreads, it doesn’t mean that you should select that broker. Many brokers use this as a marketing gimmick by offering low spreads only for less popular currency pairs. And in some cases the low spreads are not permanent. Hence, even though a broker offering low spreads is preferred, spread should not be your only consideration when choosing a forex broker, instead go for an honest, reliable foreign exchange broker.

Make sure that the forex broker has been business for a while and they have a good reputation among traders. You don’t want to invest your money with a new forex broker who might run away with your money. Also check it the forex broker is certified by regulatory bodies like CFTC which will provide you protection in case the forex broker goes out of business.