New forex brokers 2021

KVB kunlun financial group of companies (including KVB kunlun pty limited, KVB asset management limited, KVB kunlun new zealand limited, KVB kunlun international (HK) limited, KVB kunlun securities (HK) limited, KVB kunlun asset management (HK) limited, KVB kunlun canada inc, KVB global markets limited, KVB global markets pty limited).
Today forex bonuses

Next, look up the firm's NZ entity name on the FMA website to validate its current regulatory status and FSP number. Here is the official FMA page for financial services providers that lists KVB kunlun new zealand limited.

17 best new zealand forex brokers for 2021

The forexbrokers.Com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Trading forex (currencies) in new zealand (NZ) is popular among residents. Before any fx broker in new zealand can accept forex or CFD traders as clients, they must become authorised by the financial markets authority (FMA), which is the financial regulatory body in new zealand. The FMA's website is fma.Govt.Nz/. We recommend NZ residents also follow the FMA on twitter, @fmamedia.

The FMA was formed in may 2011 as part of the financial markets bill passed by new zealand's parliament. For a historical breakdown, here's a link to financial markets authority webpage on wikipedia.

Best new zealand forex brokers

To find the best forex brokers in new zealand, we created a list of all FMA authorised brokers, then ranked brokers by their trust score. Here is our list of the top forex brokers in new zealand.

IG - best overall broker 2021, most trusted

CMC markets - best web platform, most currency pairs

Plus500 - best for beginners 2021

Blackbull markets - 3.5 stars

New zealand forex brokers comparison

Compare new zealand authorised forex and cfds brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's forexbrokers.Com trust score.

Forex broker	accepts NZ residents	regulated by FMA	average spread EUR/USD - standard	minimum initial deposit	trust score	overall	visit site
IG	yes	yes	0.745	£250.00	99	5 stars	visit site
saxo bank	yes	0.800	$10,000.00	99	5 stars	visit site
CMC markets	yes	yes	0.740	$0.00	99	5 stars	N/A
interactive brokers	yes	N/A	$0	94	4.5 stars	visit site
XTB	yes	0.860	$0.00	92	4.5 stars	visit site
etoro	yes	1.00	$200	91	4 stars	visit site
avatrade	yes	0.910	$100.00	93	4 stars	visit site
XM group	yes	1.600	$5-100	84	4 stars	visit site
FP markets	yes	1.140	$100 AUD	81	4 stars	visit site
plus500	yes	yes	0.600	€100	98	4 stars	N/A
IC markets	yes	0.800	$200	83	4 stars	visit site
tickmill	yes	0.530	$100.00	81	4 stars	visit site
fxpro	yes	1.510	$100.00	89	4 stars	visit site
vantage FX	yes	1.350	$200	79	3.5 stars	N/A
moneta markets	yes	1.300	$200.00	79	3.5 stars	N/A
HYCM	yes	2.00	$100	84	3.5 stars	visit site
blackbull markets	yes	yes	0.76	$200	70	3.5 stars	N/A
octafx	yes	1.100	$5	59	3.5 stars	N/A
easymarkets	yes	0.900	$100.00	81	3.5 stars	N/A
hotforex	yes	1.20	$50	83	4 stars	N/A

How to verify FMA authorisation

To identify if a forex broker is regulated as a financial services provider (FSP) by the FMA, the first step is to identify the register number from the disclosure text at the bottom of the broker's new zealand homepage. For example, here's the key disclosure text from KVB kunlun's website,

KVB kunlun financial group of companies (including KVB kunlun pty limited, KVB asset management limited, KVB kunlun new zealand limited, KVB kunlun international (HK) limited, KVB kunlun securities (HK) limited, KVB kunlun asset management (HK) limited, KVB kunlun canada inc, KVB global markets limited, KVB global markets pty limited).

More forex guides

Methodology

For our 2021 forex broker review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex risk disclaimer

"there is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." learn more.

About the author: steven hatzakis steven hatzakis is the global director of research for forexbrokers.Com. Steven previously served as an editor for finance magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading cfds, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how cfds, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The forexbrokers.Com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this website (www.Forexbrokers.Com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with forexbrokers.Com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses forexbrokers.Com or any of its reviews, products, or services. Forexbrokers.Com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

IG - 76% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

Advertiser disclosure: forexbrokers.Com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.G. Exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.

Disclaimer: it is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While forexbrokers.Com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by forexbrokers.Com, nor shall it bias our reviews, analysis, and opinions. Please see our general disclaimers for more information.

Fxdailyreport.Com

Till about a decade ago, you had to make use of the telephone if you wanted to invest in the financial markets. You had to call up your broker for placing as well as closing orders. Introduction of online trading has, however, simplified every aspect of the investment process. You can carry out trades from the convenience of your home or on-the-go using the platform provided by brokers. Sounds simple, but the problem is there are umpteen number of forex brokers that offer trading platforms out there in the market. And, you need to work with the best forex broker if you want to achieve your financial goals. So, it all boils down to identifying the right broker to work with and it is definitely not an easy task. Read on to find out as to how you can identify the best forex brokers. In this post, various aspects you need to take into consideration when choosing a forex broker are discussed in detail so that the selection process becomes simpler and easier for you.

Top recommended and the best forex brokers for 2021

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 500:1 regulation: FCA UK, ASIC australia, MAS singapore	visit broker
min deposit: $1 spread: fixed spread from 3 pips leverage: up to 1:1000 regulation: CBR, cysec and FFMS	30% forex deposit bonus	visit broker
min deposit: $250 spread: as low as 0.1 pips leverage: up to 400:1 regulation: ASIC australia and FCA UK	visit broker
min deposit: €100 spread: the spread can be as low as 0.01%” (0.01% = spread for EUR/USD) leverage: 1:294 regulation: ASIC, cysec, FCA (UK)	visit broker
min deposit: $100 spread: starting from 0.9 pips leverage: 400:1 regulation: MIFID, FSB & ASIC	visit broker

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Main parameters to be checked for identifying the best forex brokers:

#1: regulations and licenses

It is highly recommended that you choose only forex brokers that are regulated or authorized by leading regulatory bodies such as commodity futures trading commission (CFTC), national futures association (NFA) and financial conduct authority (FCA in UK), among many others. This is because regulated brokers are more reliable than their non-regulated counterparts. Further, your hard earned money remains safe with such brokers for two reasons: they will be appropriately capitalized and they maintain segregated accounts for theirs as well as traders’ funds.

#2: forex trading platform

The online trading platforms that recommended forex brokers provide would not only be simple, but also intuitive and easy to operate or navigate. It, therefore, makes sense to try out a few online forex platforms and see for yourself as to which one has a better user interface and is easily navigable.

#3: customer support services

Customer support is a key aspect that you need to evaluate. Best fx brokers would often be aware of the needs of the traders and provide good, efficient and responsive customer support services. During the course of trading forex on an online broker’s platform, there will be times when you need certain time sensitive clarifications. If the customer support service of the broker you are planning to work with is not good enough, you could end up losing money. It is, therefore, recommended that you evaluate the brokers’ customer support service both by speaking to their representatives on telephone and by communicating with them through email.

Leverage offered for forex trading varies from one broker to another. If the leverage is high, the trader can make more profits. However, the risk of accumulating losses is also equally higher. Therefore, you should choose a broker that offers leverage suiting to your needs and based on your style of trading.

Brokers often try to attract you by offering high capital bonuses when you make your first deposit. This is good because you get more money for trading. You can choose the broker that offers the highest first deposit bonus, but you should make sure other aspects discussed above and those that are discussed below suit your needs.

#6: deposits and withdrawals

It is important that you understand the brokers’ policies related to deposits and withdrawals. The features to be evaluated when choosing top forex brokers are minimum amount to be deposited to start trading, deposit methods offered, currency options provided, minimum withdrawal amount specified and waiting time for withdrawals, among others. Further, it makes sense to go through all other written policies in detail.

Brokers make money by charging a fee for each of the trading transactions that you execute on the forex trading platform provided by them. As far as the broker and you are concerned, the significant source of revenue would be the spread, the difference between ask and bid prices. It pays, therefore, to check as to how the brokers you have shortlisted handle spreads:

Do they offer fixed or variable spreads?
What is the average and maximum spread for the currency pairs that you are planning to trade?
What spreads are offered when the volatility is very high?
Do you have to pay any commission for each trade apart from the spread?

Before buying a car, you always go for a test drive. Similarly, look for forex brokers that offer demo accounts. This helps you to open a practice account. You can try out their platform and find out for yourself as to which of the shortlisted brokers is best suited to your requirements. Most brokers offer practice accounts these days. So, it is easy for you to get a feel of the brokers’ platform before committing to depositing money and trading.

#9: other parameters for identifying the best forex brokers

The forex brokerages that offer very low account minimums can be considered for evaluation under the category “best forex brokers”. This is good because you don’t have to deposit large amounts of money in order to trade forex. Minimum account balance can be as low as $5 in the case of some of the reliable forex brokers.

Online forex brokers often try to snatch business through promotions. Do not fall prey to their sales gimmicks. Best forex brokers would never make unbelievable and unachievable promotional offers. It is true that cash and prizes form part of the game, but they should be reasonable.

Another aspect to look for when evaluating online forex brokers is the educational services offered by them. This helps you to master the art of forex trading. Brokers that provide you with a variety of educational tools for assisting you in assessing the forex market are the best forex brokers to work with.

Why expert traders trade with regulated forex brokers

If you’re looking to become a successful forex trader, then working with a skilled and trustworthy broker is very crucial. In the forex market, the two main types of brokers you’ll get include the regulated and the non-regulated brokers. Obviously, the former typically operates under regulations stipulated by a forex regulator. Regulated forex brokers must also be fully licensed and registered in their country of operation, unlike their non-regulated counterparts.

Role of regulation

Of course, the role of regulation in forex market cannot be underestimated. Regulation ensures that all players in this booming industry are strictly supervised. This way, merchants are protected from the many unscrupulous traders out there looking to swindle them off their hard earned money. Another thing, regulation also builds trust between merchants and their brokers, since most merchants don’t have enough time to monitor every investment.
Let’s take a quick look at some of the leading regulatory agencies:

CFTC and NFA: commodity futures trading commission and national futures association, regulate the financial services sector in united states of america (USA).

Cysec: the cyprus securities and exchange commission is the regulatory watchdog within the cysec domain. It offers services to the EU member states.

FCA: the financial conduct authority regulates the operations of over 56,000 financial services and companies in the UK.

ASIC: the australian securities and investment commission regulate the financial services sector in australia.

FSB: the financial services board is a south african agency which oversees functioning, regulation, and licensing of south african forex brokers.

Bafin: bafin is a financial supervisory authority providing its services to forex companies in germany.

Advantages of regulated forex brokers

With regulated brokers, you’ll always have some peace of mind when carrying out your real-money transactions. To expound more, here are the main reasons why expert traders prefer regulated brokers:

1. Credibility

It’s an open secret that most of us like to deal with trusted organizations, especially when money is involved. That being said, the credibility of any forex broker is greatly enhanced if the company is regulated by the relevant agencies. Remember that all regulated forex brokers are mandated to follow some strict rules put in place by their respective regulatory bodies. Furthermore, their regulatory bodies expect them to regularly present a copy of their audit report. Therefore, if a broker is listed on its regulatory body list, then it’s safe to say that the forex broker has fully complied.

2. Compensation

Getting compensated in case of any unfortunate scenario is arguably the best reason why most expert traders opt for regulated brokers. With most regulated brokers, you can rest assured that all your hard earned money will be refunded in case your brokerage firm goes down. For example, brokers operating under cysec are required to remit their contribution to the ICF (investor compensation fund). This pool of funds is to help settle any form of customer claims in case of any eventuality.

3. Effective customer service

Before choosing a forex broker, it’s always recommended that you settle for one who can effectively and immediately resolve all customer issues. In this case, most regulated brokers are always competent enough when dealing with technical support or account issues. In addition, they are very helpful and kind during the whole account opening process.

4. Quick deposits and withdrawals

Any reputable forex broker will allow their merchants to make deposits and withdrawals without any hassle. A regulated broker should have no reason whatsoever to make your earnings process difficult because they don’t have control over your funds. All they have to do is to facilitate the platform to make it convenient enough for you to trade.

5. Updated trading platform

Most regulated brokers are mandated by their respective regulatory authorities to provide their clients with the latest, powerful, and easy-to-use trading platforms. In fact, most of their platforms will readily provide you with all that you need to begin trading immediately. You’ll get a lot of educational materials including webinars, videos, articles, seminars, and e-courses at no extra charge. It goes without saying that regulated brokers also offer their clients free demo accounts to help them sharpen their skills before going live.

6. Legality

All over the world, governments are struggling to deal with issues concerning money laundering. Some of them have even gone ahead to pass very strict anti-money laundering laws. So to be on the safe side, you should always trade with a regulated broker. Most regulated forex brokers will ask you to provide some of your personal identification documents such as proof of address and photo ID. This might sound tedious to you but it’s always safe to be part of a regulated organization that can prove your money is being used in a legal way.

To sum it up, regulated forex brokers are always the best as well as the safest option to trade with. This is because they are always ahead in terms of legality, security, and safety of your funds. All in all, you can manage your risks better if you opt for a regulated forex broker.

Understanding true ECN vs STP broker

The foreign exchange market, also known as currency market, is a universal decentralized market that provides traders an opportunity to trade currencies. It is a market which incorporates all aspects of buying, selling, and exchanging currencies at the present-day or determined rates.

There are different kinds of forex brokers that you can choose to trade forex with. However, though all the brokers in forex are intended to provide a similar basic solution, the way they operate behind the scenes is different. Different types of brokers have varying techniques of operation, and the specific broker you cooperate with can significantly determine your success rate as a forex trader. Here are some crucial factors that will enable you determine which broker between a true ECN and STP broker is the best one to trade forex with:

Understanding true ECN vs STP broker

True ECN i.E. Electronic communications network brokers operate without their individual dealing desk. These brokers provide an electronic trading platform where professional market makers at monetary organizations such as banks, and other online trading participants including traders can enter bids and offers through their particular systems.

STP i.E. Straight through processing brokers are brokers without a dealing desk also. These brokers apply some of the techniques utilized by market makers to provide their particular clients with trading conditions which are more flexible. By STP brokers hiring some of the tactics of market makers, they are able to bypass the limitations connected to trading exclusively within the interbank market.

General overview of true ECN and STP brokers

Use of scalping techniques

True ECN and STP forex brokers do not care about how much their particular traders make. Therefore, these types of brokers allow traders to utilize scalping techniques to close their respective positions. Note that false ECN and STP brokers cannot allow you to use scalping techniques as a trader since they will be disadvantaged anytime you make small profits.

True ECN and STP brokers are types of forex brokers without a say when it comes to control on spread provided. These brokers have no control on spread offered since it’s the liquidity provider that determines the spread which is to be provided.

Though true ECN and STP brokers can add markups when necessary, they cannot in any way take it further down than the amount provided.

Difference between true ECN and STP brokers

Commission charged

On true ECN accounts, as a trader you will be required to pay a fixed commission to open and close trades. The spreads offered on true ECN accounts are determined by the rates of liquidity providers.

When using STP accounts as a trader, you will not be required to pay any commissions.

Pros of trading forex with a true STP broker

Cannot bankrupt themselves

True ECN brokers cannot trade against their specific clients to bankrupts themselves.

Similar price rates

If you are a forex trader, trading with a true ECN broker means you are guaranteed of price rates that are similar to those of the interbank market.

Negative balance protection

As a trader utilizing the trading account of a true ECN broker, the broker will be accountable for any dues with liquidity providers should your account read negative as a result of any reason beyond their control.

Cons of choosing a true ECN broker

Dealing with a true ECN broker will require you to pay rollover fees and commission at times.

Pros of trading forex with an STP broker

Their rates and the interbank prices are same

They provide their clients low entry capital requirements

Cons of choosing an STP broker

Choosing an STP forex broker means when you enter a trade you’ll not be informed what spread to expect.

Most true ECN and STP brokers are linked to several liquidity providers at the same time period. Despite both true ECN and STP brokers having incredible trading solutions which can meet your needs as a trader, their terms of operation vary. Whether you will choose a true ECN or STP broker, the rule of thumb is always ensuring you minimize losses and maximize profits as much as you can when trading forex. Ensure you compare carefully the terms of service of both a true ECN and STP broker before you choose one to handle your trading needs.

Best forex brokers 2021

Welcome to the world of foreign exchange trading or forex trading. This world has a lot to offer to those who understand its nitty-gritty. In this article, we have tried to present to you a comprehensive guide on choosing the most suitable forex brokers for your trading needs. We have also covered all the major related concerns around forex brokers such as the role of brokers, regulations, security, a list of top forex brokers, along with fundamentals of forex trading. So, without wasting a moment, let us start!

What is forex trading?

Foreign exchange trading is trading (i.E., buying or selling or exchanging) of one or more currencies instead of other foreign currencies. Forex can be translated into foreign exchange. These exchange currencies are known as currency pairs. The price of these currencies is decided based on the forex market’s exchange rates. The forex market is the biggest financial market that is spread across the world. Reports suggest that, on average, around 6.59 trillion U.S. Dollars in the form of various currencies are traded every 24 hours. The foreign exchange market runs 24 hours a day and is active for five days a week.

In the process of exchanging, buying, or selling of foreign currency, forex brokers prove to be very useful. They are also known as trading brokers, as they place a trade on behalf of the trader.

More on forex broker:

Forex brokers aid in exchanging, buying, or selling of currencies. Using brokers is pretty straight forward. All you need to do is open an account, deposit money in the newly formed accounts, and then, with the help of the broker’s trading platform, purchase, or sell currency as per the platform’s margin.
Regulation: given that forex traders place their trust on forex brokers, the regulation of these brokers, therefore, becomes quite important. Proper regulatory measures are in place to ensure security. In order to steer clear of frauds, two regulatory bodies govern the regulation of forex brokers. They are:

The commodity futures trading commission (CFTC) and

The national futures association (NFA)

These regulatory bodies keep financial activities under check. There are provisions for these authorities to launch lawsuits against those entities who are found guilty of illicit activities. This power assures customers’ safety on all fronts.

When you look for brokers, our advice is to do thorough research to check the credibility of the broker and see if its spreads, functions, and features match your needs. For research matters, the homepage of NFA and reviews such as ours can be quite handy and useful.

Usually, all the reputed forex brokers permit the clients to try a ‘practice account.’ this type of account allows the trader to get a fair idea about how the system works. This way, traders can have a mini first-hand experience on a number of broker trading platforms as they like, before choosing any. Another tip in finding a good broker is to check its 24 hours working feature like its customer service. The foreign exchange market works for 24 hours and 5 days a week, and the most reputable brokers work accordingly.

Which broker is the best for forex?

As we now have a fair idea about what a forex broker is and its purpose, it is time to move on to see which brokers are considered as the best in the market. To come up with a list of best brokers, we test a number of foreign exchange brokers for forex quality as well as CFD trading. Only after that, we suggest any name.

Before you go through the list of best brokers, it is important for you to know that cfds are complex instruments. There is a high innate risk involved with them that can lead you to steep money losses as there is leverage involved. On average, approximately 69 to 78 percent of retail accounts tend to face losses during cfds trading. That is why it is of high importance that you understand thoroughly how cfds work. You should also trade as per your risk capacity as there are steep losses involved.

Best forex brokers

Now it is time to look at the best forex brokers that can offer some fantastic trading advantages over others. So, here they are:

IG – trade with the best broker

IG is a well-regulated forex broker and is considered as one of the best forex brokers. It is trusted worldwide. Since its commencement it has offered its clients with a good variety of:

Versatile tradeable products

Highly useful trading and research tools

Industry’s top educational support

Cutting edge rates

Basically, IG is an all-around forex broker that offers a wholesome trading experience. As per market reports, IG is considered 2021’s best overall forex broker. Another thing that you should be aware of is that approximately 76 percent of retail CFD accounts lose money at IG. For details on commissions, please refer to the official website.

2. Saxo bank:

Saxo bank – trade with global capital market

Saxo bank has a reputation for serving the elite or VIP clients with utmost excellence. The minimum deposit at saxo bank is 10,000 U.S. Dollars, which is equivalent to 500 GBP. The salient features of this broker are:

It offers competitive prices

It backs its features with some well-made research

The customer service of saxo bank is also exceptional

It offers more than 40,000 trading instruments to its clients.

Overall, it is an exceptional platform for forex trading, and you can now see why it is attributed as the best forex broker. But the point to keep in mind is that around 72 percent of retail CFD accounts lose money at saxo bank. For details on commissions, please refer to the official website.

3. CMC markets:

Trade from anywhere anytime with CMC markets

CMC markets is considered to be the best online broker and included among the best forex brokers. The clients at CMC markets get to avail a variety of features as given below:

The clients are offered a great variety of currency pairs

Its offices are regulated in major international financial centers

The traders get to use a good range of financial products

The prices which CMC markets offers are competitive

It offers innovative trading tools and charting for commendable trading experience.

Overall, CMC markets can be considered as the best forex broker. Market reports suggest that it is considered to be the ‘next generation’ forex trading place. For details on commissions, please refer to the official website.

4. Oanda

Oanda – well know forex broker

Oanda is recognized among the most popular forex brokers. It has some unique and multifaceted features that its clients can avail. You can expect the following features from oanda.

No minimum initial deposit

No commission fees for their trading services

Very high execution speed of orders

Advanced charting tools and features

Competitive spreads as low as 1 pip for EUR/USD

Two basic types of trading platforms: metatrader 4 (MT4) and fxtrade webtrader

Oanda is a very popular forex broker that improves its client’s trading experience many folds.

5. Dukascopy

Dukascopy – leading forex broker

Dukascopy is another well-regarded trading broker that offers all the major trading services. Here are some interesting facts to know about dukascopy that may help you in deciding whether you want to use this as your forex broker:

Dukascopy uses the jforex platform suite, which supports this trading broker to offer the industry’s top-notch trading tools to its clients.

In addition, dukascopy supports its clients with excellent market research.

A major drawback of dukascopy is that its customer service is not that great. Also, dukascopy offers narrow tradeable markets. For details on commissions, please refer to the official website.

6. TD ameritrade FX

TD ameritrade FX trading platform

TD ameritrade FX is an exceptional trading platform which only functions within the united states’ borders. This trading broker offers some great functions to its clients:

TD ameritrade FX offers around 80 currency pairs to its traders for foreign exchange trading.

Along the way, it backs its users with a great range of trading tools as well as strong research.

7. City index

Earn more with city index

City index has made its name for offering excellent forex trading services. The clients get a range of useful trading products, multiple asset classes with competitive spreads. Further, clients get:

Excellent platform options

High tech research tools

Dependable customer support

Offers AT pro (desktop-based) and web trader (web-based) along with metatrader 4.

All of these services are offered under the biggest international retail broker- GAIN capital. Please also be aware of the fact that at city index, around 71 percent of the retail accounts lose money.

8. Forex.Com

Forex.Com – trading specialist

Forex.Com is another excellent trading platform that offers cutting edge pricing. It offers its services all over the world. Here, at this platform, you get:

In-depth market research

High tech mobile app for trading

Feature loaded trading platform

Both beginners, as well as expert traders, are welcome here.

Given the forex market has its innate trading risks, so is the case with this platform too. Around 69 percent of the retail CFD accounts lose money in trading.

9. XTB

XTB – best broker for 2021

XTB is known for offering the best customer support. It is a great trading platform that offers:

Multiple asset classes trading

Regulation in various major financial centers

Competitive offering

Excellent customer services

Xstation 5 trading platform

10. FXCM

FXCM is known for offering well-rounded services. Despite offering a narrow range of tradable markets, it serves a number of types of traders. The pricing at FXCM is average. At this platform, you get:

Strong trading tools that serve high volume traders and algorithmic traders amongst other types of traders

Great market research-backed support

Good customer support

What is the best forex broker for beginners?

In the foreign exchange market, many forex brokers cater to different categories of traders. Beginners in the trading market usually need extra support. So we decided to compile a separate list of best forex platforms for traders who have just ventured into the foreign exchange trading world:

1. Plus500

Plus500 – trade cfds and forex with trust

Plus500 is great for novice traders. It is an online broker that is very supportive of its traders and is listed among the best forex brokers. This makes it a very user-friendly trading platform for forex and CFD trading. One can say that all the basic requirements of traders who have just started exploring trading are fulfilled. For experts, plus500 may come across as a limited trading platform.

2. Markets.Com

Markets.Com – enjoy seamless trading

This is another user-friendly platform. It is an online broker with a marketsx trading place. Compared to other trading platforms, markets.Com is a bit expensive and does not have a number of trading features, spreads products, and tools other than the basic ones.

3. Saxo bank

Saxo bank – connect with world

Saxo bank is a great trading platform with competitive pricing, an exceptional range of trading tools, impressive research, and great customer support. In addition to all this, it offers a thorough variety of instruments of more than 40K trading instruments and is considered one of the best forex brokers. The only downside to it is that it charges a minimum deposit of 10,000 U.S dollars. Another thing to notice at this platform is that around 65 percent of the retail CFD accounts lose money on this platform.

4. Etoro

Etoro is great for copy trading and is considered to be one of the best forex brokers. Moreover, it was awarded this year for offering easy to use copy trading services. Traders here at etoro can copy the trades of other users through more than 1900 trading instruments. This wide variety of instruments includes cfds on famous cryptocurrencies. The only point where etoro lacks is pricing.

5. Easymarkets

Easymarkets – unique way of trading

Easymarkets is a unique web-based trading platform and is considered one of the best forex trading platforms. It offers trade protection to its users. It is indeed the best forex broker out there for beginners. It is an expensive trading platform but is very user-friendly. It offers two user-friendly features, namely:

Deal cancellation, and

Freeze rate

On the downside, this trading platform lacks market research tools. It offers just 169 tradable instruments. The mobile app of its platform is also quite average. On the other hand, around 74 percent of the retail CFD accounts lose money. For details on commissions, please refer to the official website.

How much money do you need to trade forex?

The minimum requirement to start foreign exchange trading at any platform varies. Some do not charge anything at all, and some do. The range of the minimum requirement starts from 100 U.S dollars and goes up to 250 U.S dollars. There are, however, some exceptions like saxo bank wherein the minimum funding is 10,000 U.S dollars.

What do brokers do in forex?

Forex platforms’ role is to get orders for buying and selling of currencies and then to execute trade orders accordingly. They function on the OTC (i.E. Over the counter) market. They offer access to all the main currency pairs, such as:

EUR/USD

GBP/USD

USD/JPY

USD/CHF

G10 currencies, along with emerging market currencies.

The rules and regulations in these markets differ from other financial exchanges. The broker market lacks any centralized clearing mechanism, which puts the responsibility of the right execution of the trade at the trader’s shoulders. Therefore, it is important to do thorough research about the broker’s capitalization capability before placing your trust in him or her. It is the trader’s responsibility to choose the right forex broker.

Do you need a broker for forex?

When you depend on online brokers, they continue to earn commissions from your pie regardless of your trade results. This happens because of the difference in the market price, and the actual price goes in their pockets. Their main role is to provide you with easy access to forex trading and profitable spreads. They keep their rights reserved. The results are not their responsibility. So, it can be a good idea to take charge of the entire process in your own hands.

You can gain insights into how the foreign exchange market works without losing money. You can try your hands at various demo accounts that are commonly available at various broker trading platforms.

Therefore, if you are just beginning your trade journey, we would suggest you take adequate time to first grasp the fundamentals of trading. Educate yourself about the various facets of the foreign exchange market (through a demo account) and understand how you can further push your trade portfolio without compromising security and regulations. Once well-comprehended, you will realize that foreign exchange trading is no rocket science! It may look daunting at first as there is so much to learn. But, with patience and persistence, you, by all means, can do foreign exchange trading without having to depend on a broker. Further, the following suggestions can help you kick start your journey smartly and intelligently:

High leverage and potential risk: when it comes to the daily trading volume, the forex markets are the largest. This promises a great deal of liquidity. Further, based on high liquidity, the entry and the exit at a trade position become way too easy. However, the challenge is that the banks, dealers, and online brokers in the market permit high leverage. This enables the traders to hold large positions at little money. Therefore, it goes without saying that the trader needs to understand the risky nature of the forex market. For instance, the leverage of 100:1 is a high ratio. It can swing to either high profits or steep losses. In some cases, the extreme ratios of leverage have ended many dealers with issues around insolvency.

Bird’s eye view of trading requirements: the foreign exchange market works 24 hours a day and for 5 days a week. Every day it starts in sydney, australia, and ends in new york. The main centers of the foreign exchange market are sydney, hong kong, singapore, tokyo, frankfurt, paris, london, and new york. Now, as we all know that trading currencies need a fundamental understanding of the market and its functions as well as indicators. Therefore, a trader or investor is expected to have a bird’s eye view of the entire financial movement, the economies of various countries, the inter-connections, etc, to be able to reap the best trade results.

Forex trading risks: as discussed before, foreign exchange trading has an innate nature of risk. It is complex in nature too. Further, forex brokerage operates at varying degrees in different parts of the world. The regulation between the banks varies, the standardization of various forex instruments differs, and in some places, it is totally unregulated.

The inter-bank market determines and accepts risks. They design a structure around it to come up with an interoperable process that is as safe as possible. The regulation designed in such a fashion aims to protect every participant bank.

Know forex trading risks

Given, the participating banks provide bids and other related offers for various currencies; this mechanism is therefore heavily dependent on the supply and demand rate. Due to large trade flows, influencing the price of any particular currency is difficult. With the help of inter-bank dealings, a sense of transparency is taken care of in the market.

Usually, small retail traders trade with comparatively low-key and almost unregulated forex platforms; there are always chances for them to re-quote rates and sometimes trade against the trader. Regulation on such platforms is highly dependent on which legislation they come under. This decides what type of industry and government regulation they are subject to. The protection measures for every trader vary from country to country.

Ideally, one should do a background check to see whether a broker is regulated in the U.S. Or the U.K. Further, to ensure security, one can check what kind of account protection is offered by the forex broker features in times of crises and other insolvency issues.

The bottom line

We hope our discussion on forex platforms has helped you gain clarity on the subject. As for our final thoughts, we would say that forex trading is great for forex traders with limited money who are seeking day trading in small amounts. On the other hand, those with large sums of money to trade, long term trading can be more beneficial. New forex traders should take their time to gain a good understanding of the market, its fundamentals, and create an overall view of global economics to make well-informed trade decisions.

Forex platforms really help you gain easy access to the trade market and get access to the best spreads. But it is your responsibility to do thorough research to check the credibility of the broker and also to see if its functions, products, spreads, and features match your needs. For research matters, the homepage of NFA and reviews such as ours can be quite handy and useful.

The forex market is very risky in nature. Forex and CFD are complex instruments. There is a high innate risk involved with them that can lead you to steep money losses as there is leverage involved. On average, approximately 69 to 78 percent of retail accounts tend to face losses during cfds trading. That is why it is of high importance that you understand thoroughly how cfds work. You should also trade as per your risk capacity as there are steep losses involved.

1. Can one become rich by trading forex?

The answer to this question is a mixed one. There are people who have become rich through foreign exchange trading, but the majority have not. The simple reason is the risky nature of the forex market. There have been cases where people have made millions and billions through foreign exchange trading, but one must also not forget that similar amounts have also got swept away through steep losses in the forex market. Therefore, making well-informed and calculated risks is very important.

2. How can one start forex trading?

Forex trading is all about awareness and practice. One can start by using a demo account in order to gain a good understanding of the forex market, and its various functions, tools, trading platforms, etc. Learning through case studies, researching about the technicalities about the foreign exchange market is also very useful. Once you feel confident, you can choose a forex platform by researching its credibility. Open an account there, fund it with the minimum deposit requirement, and you are ready to trade!

3. How does one choose an appropriate forex broker?

Choosing the right forex broker is tricky, but is manageable. As the first step, you should look for brokers who are regulated within the legislation of your country. Further, you should check out the reviews about the broker platform to understand how good its trading support, costs, spreads, tools, research capabilities, customer service, and other spreads, features, and products are. Upon screening through your list of best brokers, you can finalize the most suitable and trustworthy forex broker based on your trade requirements.

4. Which forex brokers accept US or non-US clients?

Those forex brokers who have regulatory status in the U.S permit U.S. Based clients and keep their rights reserved. On the other hand, those forex brokers who permit non-U.S clients are usually required to have licenses in countries where they come from.

5. Which currency pairs are popular?

There are seven currency pairs that are really popular in the market. They are also called the ‘majors’. They are as follows:

EUR/USD

GBP/USD

USD/JPY

USD/CHF

NZD/USD

AUD/USD

USD/CAD

Around 85 percent of all trades take place within these seven currency pairs or the ‘majors.’

Best online brokers for forex trading in february 2021

Trillions in currency are zipping around the world, 24 hours a day, five days a week, making the foreign exchange (also known as forex or fx) markets the world's most active. Fortunes can be won and lost quickly, as brokers routinely let traders borrow heavily to finance their speculations.

If you're looking to get in on this action, you'll need a broker who deals in currency, and many of the big names in stock trading simply don't offer this feature. Because the markets are so different, you'll also need to evaluate a forex broker on different criteria from what you would use on a stock broker.

Below are some top forex brokers, including a couple that allow customers to trade cryptocurrencies.

Here are the best online brokers for forex trading in 2021:

What to consider when choosing a forex broker

While you may be familiar with many of the brand-name online stock brokers, only some of them deal in forex trading. Instead, a plethora of more specialized niche brokers populate the space, and they may cater to high-volume currency traders looking for every possible edge.

But regardless of which kind of broker you're targeting, you'll want to focus on at least a few features that are common to any forex broker:

Pricing: forex brokers have two ways to price their services: by baking the price into the buy-sell spread or on a commission basis. Spreads are often quoted in pips, or one ten-thousandth of a point.

Leverage: how much leverage will the broker let you assume? In general, traders are looking for a higher amount of leverage to magnify the moves in the currency market. The level may differ on the liquidity of the currency.

Currency pairs: A handful of major pairs dominate trading, but how many other pairs (minors, exotics) does the broker offer? The most popular currencies include the U.S. Dollar, the euro, the japanese yen, the U.K. Pound and the swiss franc.

Spreads: how wide are the broker's spreads for trades? The larger the spread, the less attractive the trade. Of course, brokers who charge a spread markup will tend to have wider spreads because that's how they get paid.

Investors looking to buy cryptocurrency may be able to do so through some of the traditional stock brokers such as TD ameritrade or robinhood. These have been noted below, though the trading works differently from regular forex trading as described above.

One downside for american traders is that many top forex brokers are based in the U.K. And simply won't accept them because of their citizenship. The brokers below are all fine for americans, however.

Overview: top online forex brokers in february 2021

TD ameritrade

TD ameritrade offers a range of tradable products, and currency really rounds out its portfolio. Currency traders are able to use the broker's highly regarded thinkorswim trading platform, and can also trade on a couple of mobile apps.

The broker uses spread pricing and offers 50:1 leverage, which is the legal maximum permitted in the U.S. It offers more than 70 currency pairs, providing plenty of options. TD ameritrade also allows clients to trade bitcoin futures, though you'll need to get approval to trade futures, and pricing uses the broker's futures scheme.

(charles schwab has purchased TD ameritrade, and will eventually integrate the two companies.)

Pricing: spread

Maximum leverage: 50:1 on major currencies; 20:1 on minors

Currency options: 73 pairs

Forex.Com

Like its name suggests, forex.Com specializes in currency trading (though it trades in metals and futures, too) and it offers a plethora of attractive features. Clients can select the pricing structure that suits them best: spread or commission, or the broker's STP pro pricing, where prices come from global banks and others with no additional markup.

Forex.Com also gives traders access to more than 80 currency pairs, and its success with clients has the broker declaring that it's the no. 1 forex broker in the U.S., in terms of assets held with the broker.

Pricing: spread and commission, depending on account type

Maximum leverage: up to 50:1

Currency options: more than 80 pairs

Ally invest

Ally invest is better known as a low-cost stock broker (and for its especially good prices on options trades), but currency trading really adds some breadth to its offerings. Ally is a good choice for traders just starting out, and it offers more than 80 currency pairs and easy-to-use charting software, including a mobile app.

Ally also allows you to open a $50,000 practice account so that you can see how currency trading works, even if you don't intend to actually trade. Given the difficulty of forex trading, that's a great resource for beginners to try it out.

Pricing: spread

Maximum leverage: up to 50:1

Currency options: more than 80 pairs

IG

IG is a more specialized broker focused on forex, and it's open to american investors. It's a high-powered broker that nevertheless offers many features, such as a demo account, that may help novice traders. The broker offers a web platform, a mobile app and access to metatrader4 and prorealtime platforms.

IG allows spreads as low as 0.8 pips, and says that its pricing is up to 20 percent lower on the euro-dollar pair than the top two U.S. Brokers. The broker also provides an extensive range of charting capabilities across its platforms.

Pricing: spread

Maximum leverage: up to 50:1

Currency options: more than 80 pairs

Robinhood

Robinhood doesn't offer traditional currency trading, but it does bring the slick, easy-to-use interface it's known for to the crypto space. Here clients can trade a range of cryptocurrencies, including some of the most popular. Tradable currencies include bitcoin, ethereum, litecoin and dogecoin, among a total of seven types of cryptos. You'll also be able to get quotes on 10 other digital currencies.

Like its core brokerage that offers free trades on stocks and options, crypto trading is also gratis (free) on robinhood.

Top 5 CFTC forex brokers in 2021

17 Best New Zealand Forex Brokers for 2021, new forex brokers 2021.

Thinking about using regulated forex brokers in the US for your online trading needs? Be sure to read our in-depth top 5 CFTC forex brokers in 2021.

January 21, 2021 | atoz markets – let’s face it, most forex brokers out on the market are not working in your best interest, and some of them may even generate profit from your losses. And worst, some are so unreliable that you would find yourself having a hard time withdrawing your hard-earned trading profits.

To find the best forex brokers in the US, we created a list of all CFTC authorized brokers. Here is our list of the top 5 CFTC forex brokers in 2021.

Oanda

Interactive brokers

Forex.Com

AMP global

These CFTC regulated forex brokers are bound by guidelines that protect traders like you. This article will provide helpful information about CFTC, their functions, and how they protect you in the united states. Furthermore, I’ll discuss the list of trusted brokers you can trade with in the US.

What is the CFTC?

The commodities & futures trading commission (CFTC) is one of these authorities with such a highly respected regulatory framework. It was established on april 15, 1975, by the US congress to be in charge of investments and futures trading. The CFTC works as an independent regulatory agency tasked with the supervision and regulation of american companies dealing in the futures, SWAP’s, commodities, and forex trading. By overseeing these markets, the CFTC hopes to create fair and transparent markets for traders as well as maintaining the integrity of brokerages in the markets.

The CFTC is known to be a very strict regulatory authority with many guidelines, restrictions, and requirements for financial companies offering investment services to american citizens. This has deterred many companies from setting up shop at a US-based brokerage. However, for the brokerages that do register and become licensed by the CFTC, their traders and investors can be assured they will be a safe and secure brokerage to deal with.

Why should you choose CFTC regulated forex brokers?

A very important aspect of the CFTC is the protection of investors and consumers. The authority has developed numerous rules and guidelines for the protection of investors by safeguarding the integrity of financial markets.

One of the largest areas of protection the CFTC provides investors is the prevention of fraud and financial abuse. They achieve this level of protection by making it mandatory for all US financial companies involved in investment services to adhere to their strict regulatory guidelines. Regarding forex brokerages, all firms must pass an intense and secure licensing process, which prevents companies from participating in any financial malpractices.

As well, once companies are regulated by the CFTC, they are under constant supervision and must comply with fair and true advertising practices. This way, investors are protected through a competent and transparent market.

Also, the CFTC protects investors by cracking down on any fraudulent activity committed by companies. They issue warnings, fines, and will even take legal action by working with authorities such as the FBI.

All in all, traders who chose any of these top 5 CFTC forex brokers in 2021 are delighted with peace of mind knowing they are protected through the regulation imposed by them.

Top 5 CFTC forex brokers in 2021

See below for the top five forex brokers in the US:

1# oanda

Oanda is a regulated online forex broker based in the US, having its branches across the globe. Initially established as a forex and cfds trading platform in 1995, oanda is now the specialist in offering a variety of asset classes, including stock indices, bonds, commodities, and precious metals. When it comes to creating profitable opportunities, oanda has more to offer in the form of its award-winning proprietary platforms and precise technical indicators.

Investors find it easy and safe to trade with oanda because of its advanced trading tools and regulation by international authorities. This forex broker is well-regulated by six top-tier regulatory authorities, including the US CFTC, the US national futures association (NFA), the UK financial conduct authority (FCA), and the australian securities and investment commission (ASIC).

Oanda pros

Oanda cons

Does not support cryptocurrencies

Slower phone support

Less competitive spreads

2# interactive brokers

Interactive brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK’s FCA and the US securities and exchange commission (SEC).

As it has licenses from multiple top-tier regulators, interactive brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Interactive brokers pros

Well regulated

Low trading fees

Large investment selection

Strong research and tools

Wide range of products

Interactive brokers cons

Forex.Com

Forex.Com is a global FX and CFD broker established in 2001. Forex.Com is a brand of GAIN capital, which is listed on the new york stock exchange. With a massive range of tradable currencies, low account minimums, and an impressive trading platform, FOREX.Com is an excellent choice for brokers searching for a home base for their currency trading.

Forex.Com is considered safe because it has a long track record, it is regulated by top-tier financial authorities, the UK financial conduct authority (FCA), and the US CFTC.

New traders and seasoned veterans alike will love FOREX.Com’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels. While FOREX.Com is impressive, remember that it isn’t a standard broker.

FOREX.Com pros

Low trading fees

Highly regulated

Low minimum deposit

Trade over 4,500 markets including 80+ currencies and four top cryptocurrencies

Many tools to conduct technical research

Trade four top cryptocurrencies using leverage

Access to vast amounts of educational resources

FOREX.Com c ons

Charges inactivity fees

The account verification process could take some time

No stocks or bonds offered

4# AMP global

AMP global is part of the AMP global group holding (chicago, USA), authorized by the CFTC and a member of the national futures association (NFA) since 2010. They provide traders with over 50 platforms for various financial instruments, including futures, forex, options, cfds, and more. To provide services outside north america, AMP global has a european subsidiary registered in cyprus and is regulated by the cyprus securities and exchange commission (cysec).

AMP global is a member of the investor compensation fund and pays great attention to the safety of clients’ funds. Separate accounts in european banks are used for their storage of deposits, which is completely separated from the authorized capital of the broker itself.

AMP global pros

Multiple sophisticated trading platforms

Several financial assets

Educational resources and trading tools

24/7 customer support

AMP global cons

The minimum deposit is USD / EUR / GBP 100;

No zero spreads;

There are no micro (cent) accounts;

The broker does not hold contests among traders and does not provide an opportunity to receive bonuses;

There are no investment programs or PAMM accounts.

5# IG

Founded in 1974, IG has grown to be one of the world’s largest online brokers for spread betting and CFD trading, with trading available across a range of asset classes, including indices, forex, shares, commodities, and more.

With sales offices in 14 countries, based across five continents, traders can also use IG’s investments service to buy and sell shares and etfs in a more traditional sense or choose a wealth portfolio that they can manage on your behalf.

IG pros

More than 17,000 tradable assets comprehensive education resources and tools offers forex, cfds, spread betting, and share dealing services very competitive spreads on most asset classes heavily regulated easily deposit funds with a debit/credit card or bank account fully-fledged mobile app

IG cons

Inactivity fee

Limited range of instruments

High fees for share cfds high spreads

Conclusion

For your peace of mind, make sure you trade with these top 5 CFTC forex brokers in 2021 that follow strict regulatory guidelines and framework. Stay away from forex brokers who are not unauthorized by the CFTC or any international financial institutions.

If you value reliability, transparency, and stress-free, trading with these CFTC forex regulated brokers makes a lot of sense. All you need to know can be found on the CFTC website with detailed explanations on every aspect of the market, their conduct, and of course, most importantly, the lists of reliable forex brokers.

Think we missed something? Let us know in the comment section below.

So, let's see, what was the most valuable thing of this article: A list of best forex brokers regulated by the FMA in new zealand. At new forex brokers 2021