The unavailability of direct access to the foreign exchange market mandates the requirement of a broker to trade in it. Therefore, a well-informed choice is necessary to win the game and make profits consequently.
Forex is a volatile market that requires precautious strategies to stay in the long haul. The foremost criteria to consider while choosing one among the best forex brokers is the budget, i.e., the minimum deposit. This immediately narrows down your options, giving better insight on other tools like demo accounts, swap-free accounts, cent accounts, training aptitudes, and facility of copy trading.
To help you further in getting started with the forex trading journey, here is an article that elaborates three best forex brokers for beginners in 2022.
- Admiral Markets
With a cash cycle of more than $35 billion and leverage of 1:500, Admiral Markets offer the geographical networks of almost 40 nations. The company is registered by ASIC and Federal Financial Market Services and is regulated by the Financial Conduct Authority.
It offers a minimum deposit as low as $1 and has several unique features like automated stop loss and profit level settings and withdrawal options. The broker platform is also equipped with e-learning courses to empower all traders.
Commenced in 2007, InstaForex is one of the most recommended broker platforms for beginners. The company is held by FSC as per the Securities and Investment Act.
InstaForex offers leverage from 1:1 to 1:1000 alongside trading in multiple assets like stocks and cryptocurrency. Its minimum deposit is $1. Due to its trader-oriented facilities such as minimal risk deals, PAMM investment, flexible leverage, and deposit bonuses, InstaForex stood as the Best Eastern European and Asian Broker award in 2019.
Although RoboForex has a minimum deposit of $10, the company still holds a prominent position among beginners for its huge geographical coverage of 169 countries, leverage of 1:2000, and the option of withdrawing funds instantly.
The platform is known for its educational courses and flawless functioning.
Choosing a forex trading broker might seem daunting; however, sufficient research and clarity about personal goals may ease the process and bring in profitable returns.