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Home » Uncategorized

Strengths and Weaknesses of Forex Brokers

Submitted by on Monday, 17 August 20200 Comments

If you want to keep your trading resources organized, you need to find a reliable online broker. There are a lot of options offered by Forex, but it is difficult to make the right choice. You have to pay attention to many factors such as fees, research availability, trading resources, account types, available investments, and customer services. By checking this list of the best Forex brokers, you will be able to make the right choice considering the strong and weak sides of each particular option.

AMarkets

AMarkets

AForex or AMarkets is a Russian-based broker that offers modern and secure online technologies in Forex and CFDs trading. AForex is licensed by the Financial Commission and administered by the Center for Regulation in OCT Financial Instruments and Technologies in Russia. The geographic location of Aforex is not limited to Russia, so it also has offices in other countries such as Cyprus, Hong Kong, UK and Singapore. AForex is a reliable broker, featuring a nice trading environment. With this online broker, you can enhance your Forex trading routine at any level of complexity. In 2015, AForex was transformed into AMarkets. AForex provides traders with good customer support through live chat, phone and email. The multilingual customer support can be contacted 24/5 in several languages, including Russian, English, Indonesian and Malay. The customer support is quite friendly when it comes to the delivery of the relevant information and responses to clients’ inquiries.

Pros:

  • Opportunity to taste Forex trading with real market terms through their free Demo accounts.
  • Free analytical support including real-time reports and forecasts in the world of Forex and CFDs trading;
  • Efficient execution;
  • Bountiful specials, campaigns, and contests.

Cons:

  • Not available to clients from the United States.

FXTM

FXTM

Forex Time or FXTM was developed by the co-founder of Alpari. Similar to many Forex brokers, FXTM is eligible for non-U.S. and non-E.U. traders. With many offices worldwide, this broker is managed by CySEC and a member of ICF. The broker provides a vast array of currencies, commodities and CFDs. In 2013, FXTM was given a status of the “Fastest Growing Forex Broker” due to its strategic intention to meet the needs of seasoned traders. The broker provides ECN (Electronic Communications Network) and fixed spreads. Thanks to thoroughly organized educational materials, this broker is suitable for all levels of trading experience. Their support instruments involve training, webinars, as well as commentary which are updated on a daily basis. Forex Time provides high-quality Forex and CFD trading experiences, which bring this broker to the Top Tier list.

Pros:

  • Offering attractive rewards and bonuses for signing up;
  • Exceptional customer support and fast, efficient trade processing;
  • Efficient trading platforms making this broker attractive for international trading operations.

Cons:

  • A relatively small amount of time in business;
  • High-quality services and clear background of the company’s founders.

Dukascopy

Dukascopy

Dukascopy is an online Forex broker that focuses on financial trading and banking operations. Thanks to advanced technological solutions, clients can benefit from a wide range of effective trading platforms. The available financial tools include CFDs, forex, binaries, precious metals, gold, options, and stocks. Since 1998, the broker has opened offices in Hong Kong, Malaysia, and Russia. Dukascopy offers a trading environment where forex traders can communicate on the equal level of footing. The brokerage company provides auto trade operations in a matter of several seconds by offering a wide range of forex trading instruments to its clients. This user-friendly broker offers trading services in a safe execution level. Also, it provides an efficient 24 hours customer service, encouraging easy deposit and withdrawal options.

Pros:

  • Belonging to the Swiss Bank;
  • Safe, functional and reliable trading platforms with a wide range of service;
  • 24-hours customer care services provided through emails, telephones, and live chart.
  • Availing multilingual trading options.

Cons:

  • Availability of a single rote for fund deposit, namely bank wire transfer.
Forex terminal

The Bottom Line

If you consider starting your stock trading adventure, you need to find the right place to do that. By focusing on such factors as a timeline, mission, and account, you will find it easier to open an account you actually need. It is up to you whether you use one of the above-mentioned options or choose some other Forex broker. Just remember these things when you make the final decision and register on its online platform. That way, you will minimize all the possible risks!

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