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Solution's infrastructure. As stated clearly on the eToro USA home page, they are an introducing broker of FX Solutions, enabling eToro to trade in the US without receiving NFA regulation. After examining eToro USA's offering, it seems that the trader would be doing pretty much everything with FX Solutions, while benefiting from eToro's famous Game-Like trading platform.
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10pips is a broker that deals with multiple markets including Forex, commodities, stocks, equity indices, and more. Their website is user friendly, easy to navigate, and is a clear indication of what you will get when you begin trading. While I could not help but notice that some basic information one searches for on a broker's site was missing, everything became very clear once I downloaded the 10Pips platform and began to trade.
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Advantages
- Intuitive Platform
- Advanced Trading Features
- Bonus with No Deposit Needed
- Deposit and Withdrawal within Platform
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Forex Place is one of the more impressive brokers I have reviewed. They clearly invest time and money on your first impression when accessing their website. It is clean, fast, straight forward, visually appealing, and simple to use.
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Advantages
- Mobile Platform
- Easy-to-Use Website
- Easy deposit and withdrawal process
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ForexYard is a retail forex broker that was established in 2004 and based in Cyprus. They offer a dealing desk brokerage, meaning they take the other side of your trades. Twenty-seven different currency pairs are offered as well as 3 commodities: gold, silver, and oil. ForexYard offers very competitive fixed spreads. With the option of a web-based or downloaded trade platform, good customer service, flexible margin trading, and some additional features not offered at other retail brokers, this broker is recommended for experienced and especially beginning traders in the forex markets.
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Advantages
- Choice of web-based or downloaded trade platform
- Excellent customer support, including personal account manager
- Super mini account is great for beginners to trade with least amount of risk
- Registration and deposit process are short and simple
- Spot commodities, trade crude oil and gold
- Cashback promotions for new clients, get up to $1,000
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iForex is an international group of Forex companies founded in 1996 by a group of bankers and Forex dealers. In 2004, they launched their multilingual internet-based trading platform.
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Advantages
- Easy to open an account, deposit and start trading
- Low minimum deposit ($100)
- Web based version in addition to download
- Available in 13 languages
- Ability to trade via phone
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Marketiva has established itself as an industry leader thanks to its advanced trading platform and its highly recommended customer service. They require low minimum deposits, and allow very low risk while trading. All these features make Marketiva very attractive for a newcomer to the FOREX market.
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Advantages
- User-friendly software
- Chat with others while trading
- Demo account and real money account on the same platform
- Low minimum deposit – only $1
- High standard customer support
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FXCM Holdings, LLC is one of the largest, fastest growing FOREX companies, and has been awarded as such by Inc. 500 List of America’s Fastest Growing Companies three years in a row (2004-2006). FXCM Holdings, LLC has offices around the world including U.S., U.K., Dubai, Hong Kong, France, Italy, and Australia, and is regulated and licensed in each of them as an established Future Commissions dealer or financial dealer.
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Advantages
- Tight spreads, as low as 2 pips
- 24/7 Customer Support
- Customer support in over 20 languages
- www.DailyFX.com mini-site
- Share company’s financial information
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Caya Capital Markets is a new broker providing online trading in forex, stocks, oil futures, and metals. They are based in New Zealand and London, with affiliates in Dubai, Amman, East Europe, Thailand, South Africa, and South America.
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Advantages
- Forex, oil futures, stocks, gold, silver trading from same platform
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Easy Forex is a no-download platform developed for traders who wish to use a system that is truly easy to use. The registration process is quick and simple and so is the depositing of funds. Easy Forex offers Day Trading, Limit Orders, and additional deals depending on the location of the user. Spreads and amounts to risk depend on the type of the account ranging from mini-accounts to tailor made VIP accounts. The minimum risk required is $12.5
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Advantages
- Truly easy to use!
- Comprehensive training programs
- Excellent customer support, including personal account manager
- Over 100 pairs to trade
- The lowest minimum deposit and risk ($12.5)
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- 9 languages
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The very first thing that comes into ones mind when introduced to Ava FX is how easy and friendly their interface is. This is apparent surfing through their website, where all needed information for someone new to this firm is accessible and clear, and is even more so with their trading platform – Ava Trader, where all features are no more than a click away......
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Advantages
- Variety of billing options
- 24 hr Phone and web base support
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Liteforex is a Forex broker that offers the market-standard advanced MT4 trading platform. In that sense they are very similar to many other brokers using that platform. It seems that Liteforex wanted to differentiate themselves from the pack, and so they did so by implementing a $1 minimum deposit in order to start trading.
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Advantages
- MT4
- Great Customer Support
- One USD trading
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GFCMarkets is a new Forex force to be reckoned with. Their site is pleasant on the eyes, available in 9 languages, and gives you almost all the crucial information you are looking for at first glance, no need to search.
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Advantages
- Advanced Platforms
- No Commissions
- User friendly Website
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The Forex market is growing and with it, so is the number of Forex brokers. However, there are some names you will always hear mentioned among the market's leading brokers. Some of these leading brokers offer the most advanced trading platforms, others the best customer service, and then there are a few brokers that offer the best all around experience for their customers. eToro is one of those brokers.
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Advantages
- Intuitive User Interface
- Interactive With Good Online Community
- Comprehensive Trade History
- Low deposit required
- Informative headline ticker and live FX rates in the lobby
- Minimal Spreads
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IFX Markets is a FOREX trading platform that offers 24-hr Foreign Exchange trading to hedge funds, money managers and self-traders. Traders can jump into the FOREX arena with just $500 via IFX Markets, or choose to start with a free practice account. While not as robust as some other sites, IFX Markets is a comprehensive place to practice FOREX trading.
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Advantages
- User Manual clearly demonstrates how site works.
- Free Demo Account
- A wide variety of products
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UFXBank is a relatively new Forex broker based in the UK and in Cyprus. They have recently acquired multiple brokers, names are withheld, and thus were able to emerge as a new face on the retail Forex scene. When first encountering UFXBank, you will notice that their website is clear and easy to navigate, which is an indication of the kind of broker they are in general.
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Advantages
- Quasi ECN broker
- Pending NFA registration
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GFX Group is a forex broker based in Switzerland and operating since 2005. This broker is a non-dealing desk broker offering straight through processing for client orders and variable but tight spreads on major currency pairs...
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Advantages
- Mt4 trading platform
- Fractional lot size for flexibility
- Base currency can be USD, EUR, CHF
- STP trading (straight through processing)
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When you access CKFX’s website, the first word that comes to mind is “simplicity”. The site is as simple and empty as can be, with very little information. Do not let that fool you though, CKFX has a nice offering and in some cases, even outdoes its parent, Forex Yard, for who they act as an introducing broker.
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Advantages
- Bank Transfer or Credit Card
- Downloadable and Java-based platforms
- Keep profits from demo to real account
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Alpari is a retail forex broker that was established in Russia in 1998, and has since opened a UK brokerage (www.alpari-idc.com) in 2004, and a US brokerage (www.alpari-us.com) in 2006. They offer a retail dealing desk with fixed spreads, meaning they do take the other side of your trades. The three different brokerages are regulated by different government regulators, the FSA in the UK, and the CFTC and NFA in the US, and the Financial Regulation Agency (FRA) in Russia. There are some differences in broker offerings between the three for this reason. All three do provide strictly an Mt4 feed only for web-based trading. All in all this broker is recommended for good customer support, and good mt4 feed.
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Advantages
- MetaTrader4 feed
- Very competitive fixed spreads, 2 pips for EUR/USD
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ForexWebTrader is a sophisticated forex trading platform that’s designed clearly enough for the novice or experienced trader. The site’s combination of offering more than 45 different trading pairs, along with a virtual tour and live help features, make it one of the more comprehensive forums available.
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Advantages
- Quick Navigation key provides easy access to most-used pages
- Comprehensive Platform Guide that directs you into the world of forex training.
- MobileWebTrader allows you to trade even when you’re not in front of your computer.
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MBTrading Futures Inc. has been in operation since 1999 based in California, USA. They are one of the few ECN (Electronic Communications Network) brokers out there for trading forex, stocks, commodities, and futures. MBTrading’s platform and service make it unique in many respects for the professional forex trader.
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Advantages
- Recently lowered minimum deposit requirement
- Excellent customer service
- Electronic Communications Network (ECN)
- Can provide feed for eSignal charts
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By: Hillel Fuld
FXDD (FXDirectDealer LLC) is a retail ECN broker that was established in 2003 in New York. Since FXDD is an ECN broker, they do not take the other side of clients’ trades, but are able to quickly pass through trades and match them on the interbank network of 60+ banks. They claim to typically have fixed spreads but occasionally, like high volatility during news events, the spreads can become variable due to the nature of being an ECN broker. They currently offer 20 different currency pairs to trade, on five different trading platforms. With the flexibility of these five different platforms to choose from, good customer service and some unique learning tools, FXDD is recommended to retail and institutional traders alike.
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Advantages
- Retail ECN broker
- 5 different trading platforms to choose from
- MT4 feed
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FXcast is a worldwide financial services corporation that is specialized in offering currency traders of various levels and experience with excellent quality online trading services. FXcast has remained in the market since 2005.
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Finexo has been in the retail forex broker business since 2003 and a white label of Saxo Bank since 2004. Simplicity and ease-of-use are the themes for this broker, and they state on their website that they want to make entry into the foreign exchange market easy for the beginner. But easy is not always a good thing, and dig a little deeper and some disturbing red flags are revealed.
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Advantages
- 24 customer support via chat
- Variety of deposit methods
- Very low minimum deposit requirements
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When first encountering Plus 500, my first impression was how clean and user-friendly their website is. They have a very organized way of displaying their offering and all its features. Each category is displayed in its own tab, including Forex, commodities, indices, stocks, and CFDs.
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Advantages
- User Friendly
- Easy Registration, deposit, and withdrawal process
- Mini Account
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When encountering DBFX for the first time, I was immediately taken aback by what seemed to be a serious and established brokerage. Their site is well organized and their offering is quite broad. The site is available in three languages Arabic, Chinese, and English, which is a relatively small number of languages compared to other brokers.
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Advantages
- Part of Duetcshe Bank
- 34 Pairs
- Competitive Spreads
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At first glance everything about www. mgFOREX.com and the MG Financial Group seems simple. They offer one main platform, the DealStation, which is available in a number of versions. They offer one type of trading: FOREX. They offer a limited number of crosses: ten popular pairs. Even deposits are acceptable in only two forms: check or wire. But this brokerage service is like a big puzzle, with pieces of information scattered about the site. But, after you put them all together, you’ll discover a proven, rather simple-to-use trading tool. This is truly a site for the hunter-gatherer.
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Advantages
- Simple to use platform
- Demo Account available
- Multi-Currency Account
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Dukascopy provides clients with exclusive right of entry into the biggest Swiss FOREX Interbank liquidity network with sophisticated trading tools, price/execution guarantees, slippage control, full market depth and very reliable customer service.
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Advantages
- Biggest marketplace in the world
- Low spreads, slippage control
- Reliable Customer Service
- ARIF regulated with known physical address
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Global FOREX Trading (www.gftFOREX.com) is known for its dazzling charts and prompt customer service. At the heart of the GFT platforms are the DealBook 360, a 20 MB-plus downloadable trading engine that power the Demo, the Mini, and the Standard. The Standard is the full-featured crown jewel of the line; the Mini is less robust. GFT is for the trader who is serious about FOREX and wants to become more adept at playing the market
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Advantages
- Completely customizable dashboard for trading
- Platform requires some explanation and familiarity
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FOREX.com launched operations in 1999 as a tool for professionals FOREX traders and is now used by traders from all over the world and all experience levels.
After depositing funds through a variety of vehicles, you have access to a wide range of research charts, news headlines and online tutorials to help you make the best investments. There is a learning curve involved in navigating the information, but once you do, you’ll find the information you need pretty quickly.
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Advantages
- Low spreads, 1-2 pips for major pairs
- 4 trading platforms, including wireless
- 11 languages
- Around-the-clock support is available
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MIG Investments is a Swiss online FOREX broker. They are regulated by the Swiss Federal Department of Finance. The Swiss regulatory body is known for requiring that all banks and financial institutions act in accordance with strict regulations and procedures. This helps make MIG a secure, safe and trustworthy place to trade. MIG provides a state of the art 24-hour trading platform in 21 different languages. They take obvious pride in staying competitive with several currencies being offered for as low as 2 pips. There was a time when such a tight spread would have only been available for a 1 million USD or higher transaction size. This MT4 based broker is simple to use with a thirty day free demo, very tight spreads, live chat and quality customer service.
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Advantages
- State of the art MT4 based platform
- Tight spreads as low as 2 pips
- Quality customer service
- Free indicators
- Regulated by Swiss Federal Department of Finance
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Crown FOREX S.A. (CFSA) is a FOREX trading platform based in Switzerland. The firm offers many different features and solutions, but is probably best suited to advanced and experienced traders. While it does not provide much education to budding or inexperienced traders, CFSA does include provisions to limit risks, and a demo account for training purposes.
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Advantages
- Comprehensive trading platform
- Live chat available 24 hours a day
- No commission, low spread on major pairs
- Low initial account balance requirement.
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Compared to the many other FOREX sites that are racing to grab a share of the online business, Finotec runs with the middle of the pack. Although boasting the best trading platform and support services of any FOREX site, Finotec’s offerings are similar to those of a number of other companies. It does have is a more consumer look and feel than many larger commercial sites and seems inviting to the beginner.
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Advantages
- Demo account for learning and practice
- Mini account to get your feet wet
- Your choice of Web-based or Windows-based platform
- Narrow spreads (up to 3 pips) and generous leverage (200:1)
- More than just Forex trading (options, metals, etc.)
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OANDA’s offers a complete FOREX trading experience with all its tools, products, resources and users discussion forums. In addition to these services OANDA strives to offer the lowest spreads to any trader using their platform, no matter what the levels of activity in their account are. So while it definitely takes time to master this full set of tools, the trader using them will eventually be able to manage his trading strategy to make the most out of using this platform.
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Advantages
- Extremely low spreads
- Minimum trade size $1
- Maximum trade size $1M
- Have a huge variety of Forex tools
- Multi currency accounts
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ACM is one of the largest brokers in the FOREX market. They offer 4 user friendly platforms which can be accessed via web and via mobile phones. While it is easy and convenient to trade with ACM, the minimum deposits required are extremely high, starting at $2,000 for mini accounts! The minimum lot size is 100,000 units, and spreads are not fixed, thus exposing the trader on ACM to high risks during volatile markets.
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Advantages
- No slippage / No requotes
- User friendly software
- 1 Account, 4 Access Points: Web, Download, Flash, Mobile Phone
- Multi-lingual services
- One of the largest Forex companies in the market
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A trader using FX Solutions’ platform will enjoy their strong trading platform accompanied with powerful charting tools. To make the FOREX trading experience even more customized, FLEXI leverage and FLEXI contracts are features that enable the user to decide at any time what the leverage in his account will be and at which quantities he wishes to trade.
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Advantages
- Strong GUI
- SMS and Email alerts
- FLEXI contracts and leverage
- AccuCharts charting platform
- Free webinars for getting acquainted with software
- Both Downlaod and Web based platforms
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SaxoBank cuts a wide investment swath, appealing to brokers, institutions, and other potential trading partners, as well as individual clients. Those individual clients are presented with a panoply of trading products--FOREX, CFDs, stocks, commodities, and futures--and two free demo accounts with which to test the platforms. To enjoy these platforms, however, the trader must first wend his way through a complex web of conditions and formulations tailored to each investor, each cross, and each asset.
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Advantages
- Wide range of asset products offered
- Numerous industry awards won
- Interface is easy to understand
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Xforex is a retail forex broker that first opened its doors in Cyprus in 2003 as Trouvia Investments Ltd, but since has expanded to North America. After much investigation this broker seems to be a decent one, with good service, a good platform, and some extra client perks that go above and beyond other brokers.
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Advantages
- Low minimum deposit required
- Good customer service
- Several deposit methods
- Deposit bonus up to 20% promo
- Personal trading expert offered
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InterbankFX is a retail FOREX broker whose pioneering efforts have created a unique FOREX trading environment. While not as complete as some other sites, InterbankFX does offer timely and effective support for the novice trader.
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Advantages
- Unique, and user-friendly, forex trading environment
- Includes real-time business and world news
- Customer support provided in 17 languages
- Site includes a user forum for users to exchange ideas and tips
- Comprehensive educational materials
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Update 30/10/08:
Following the announcement made last September, the Swiss and Danish banking authorities have given the necessary authorisations for the acquisition of Synthesis Bank by Saxo Bank.
Synthesis Bank has been involved in international money markets since 1991. Today, it is one of the world’s leading names in the trading of financial products. It varies from other FOREX brokers in that it operates several trading areas, including FOREX, but seems not to be very comprehensive in any of them.
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Advantages
- Synthesis Bank trades in 160 pairs
- Various Products
- Daily Analysis Newsletter
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Forex Club is a Forex broker that impressed me on almost all fronts. The first impression one gets from Forex Club is of course their website. The site is as clear and easy to use as any Forex website I have ever encountered. Any and all information a Forex trader needs from his/her broker is immediately accessible from the Forex Club home page in a clear and simple fashion.
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Advantages
- Clear and Easy Website
- Simple Registration and Deposit Process
- Various Platform Types
- Unlimited Demo Account
- NFA Regulated
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