For a trader, one of the hardest things is to choose the right broker. A Forex broker should address what you need and what you want immediately. Especially during the pandemic, many new brokers have jumped onto the stage and traders have a lot of different options to chose from. The priorities can differ from trader to trader and what you have to do first is to understand yours. After defining your needs, then you can search for the best Forex brokers in the industry.
Below, you can find some of the best Forex brokers approved by the traders in 2021.
OANDA, co-founded by Dr. Stumm and Dr. Olsen in 1996, is famous for doing all currency things. They offer a wide range of services from currency conversion to global brokerage services to providing FX data for businesses. The company is currently the #2 Forex broker in the U.S. in terms of customer funds, even though there is no account protection for U.S. customers. OANDA is regulated by CFTC, NFA (U.S.), and FCA (U.K.) and attracts traders with extraordinary research offerings and platforms. See full details here.
- Saxo Bank
Saxo Bank, a Danish investment bank founded in 1992, is one of the best Forex brokers in the market. The broker is regulated by several authorities, including the Danish Financial Services Agency (FSA), the UK Financial Conduct Authority (FCA) and many more. Despite high minimum deposits, the company is preferred by many traders thanks to its exceptional trading platforms and broad product portfolio. See full details here.
As a member of Trading Point Group, XM was founded in 2009 and regulated by the Australian Securities & Investment Commission (ASIC). Its parent company is also authorized by the Financial Conduct Authority (FCA) of the UK. The most important feature of the firm is its fully integrated trading platforms with MT4 and MT4. At XM, the account opening is very easy and fast compared to the other brokers in the industry. See full details here.