Top Trusted Forex Brokers

by SHARIEF NAJJAR Trading Expert - Forex Financial Markets

This year the trading become more harder and complicated for the most of the professional traders, specially whom using Automated Trading, actually the market for this year depends more on Fundamentals, because much affected by ridiculous Trump tweets.

I have tried many brokers since 18 years ago, each broker having advantage and disadvantage points, but regarding of the most trusted in the market they will be as a following Top Forex Brokers – Tier 1

1- Dukascopy Bank

Top Advantages:

A- Dealing with a real regulated bank since 1999, each client got trading account with IBAN, so you do deposit to your trading account such as a normal deposit in the other banks plus you can open a current account.

B- Regulated by FINMA, also as a bank it should be regulated by Swiss National Bank.

C- Deposit insurance 100,000 CHF for each account.

D- Very fast trading execution less than a second.

E- The most advanced mobile trading application

F- Possibility to merge the multiple open trades for the same instrument in one trade

Top Disadvantages:

A- Not suitable for small accounts because doesn’t allow micro lots for Indices and Oil.

B- High Monthly Adjustment fees for the indices and oil.

C- Small range of Metals and Forex products

D- Trading Future Contracts not Available.

2- IC Markets

Top Advantages:

A- Big trade name with huge monthly trading volume, one of the Top 5 within trading volumes and active clients

B- Australian company regulated by ASIC

C- The best customer service i ever had and very fast withdrawal process

D- Wide range of the Payment Methods and accepting PayPal.

E- Fast Trading Execution.

Top Disadvantages:

A- High swaps for the spot Indices and spot Oil

B- Trading Futures not available

C- Not allowing micro lots for Indices and Oil.

D- New clients outside Australia have been forced to open accounts under CYSEC and Seychelles

E- Max withdrawal via same card = 100% of the total deposits, so you need to withdraw your profit only via wire transfer

3- AVA Trade

Top Advantages:

A- Very well regulated by the Central Bank of Ireland and other 4 Authorities

B- Big range of products with ability trading future for most of the instruments such as Indices, Oil and other Commodities.

C- Withdrawal via same card = 200% of the total deposits

D- Good Bonus on first deposit

E- Managed Accounts

Top Disadvantages:

A- High spread and negative swaps for the both trades directions (long or short) on all instruments

B- Don’t accepting PayPal as a payment method

C- Poor Client portal

D- Can’t do internal transfer between your accounts which hold by different currency base

Conclusion: All above are tier 1 brokers providing good service but always you need to check around the social Forex forums and read more about the recent reviews on your broker