Trading forex, CFDs and cryptocurrencies online in the international markets can be exciting and lucrative,as well as an excellent source of income. To give you an idea of just how big the forex industry is, the $22 billion of shares traded every day pales in comparison to the almost $5 trillion that investors put into the foreign exchange market daily! You too can easily get a piece of this forex trading action online by signing up with a reliable and reputable broker who will give you direct access to trade a wide range of currencies, and other assets, within a secure trading environment.
Signing up witha top forex broker is critical to your success in the online trading market. It is important to partner with a broker that offers you everything you need to trade successfully. This includes access to intuitive trading platforms that offer effective charting and analytical tools, seamless banking processes, a wealth of educational resources, as well as responsive and professional customer service. In addition, no two traders are the same and each one has their own unique preferences and trading needs. Knowing your personal preferences and investment style and how they match up with the features offered by a specific broker, can help you to choose the best forex broker to sign up with.
We have put together a guide to three of the top online forex brokers available in the industry today: EuropeFX, iTrader and 24Option. By examining the main criteria by which most traders should select a broker, we have highlight each of their features and services to give you detailed insight into each brokerage.
Forex Broker Reviews – Who Are the Top Brokers?
Ownership and Regulation
You can identify a trustworthy broker as one who is validly licensed by a recognized financial regulator. Regulation not only allows the broker to operate within the area of jurisdiction of the authority, but it also offers financial protection to traders. EuropeFX, iTrader and 24Option are all legitimately licensed brokers that you can trust. They are recognized in the industry as leading brokers who meet the strict requirements of the regulators, while ensuring that their investors’ needs are met. EuropeFX is owned by MaxiFlex Global Investments Corp LTD of Limassol, Cyprus. It is a forex broker that falls under the Cypriot government regulation, with its parent company holding CySEC (Cyprus Securities and Exchange Commission) license number 258/14, awarded on the 10thof November 2014.
iTrader is also licensed and headquartered in Cyprus, and is owned and operated by Hoch Capital Ltd, also of Limassol. Its CySEC license number is 198/13.
On its part, 24Option is owned by financial services firm Rodeler Limited under CySEC license number 207/13 which was issued on the 11thof July 2013. 24Option also has separate licenses in Italy, Germany and the UK.The 24Option International site is operated by Richfield Capital Limited. This Belize investment firm is regulated and authorized by the International Financial Services Commission.
With all three top brokers regulated by recognized regulatory bodies, traders can have peace of mind that they are partnering with brokers that operate within a regulated framework. Client funds are held in segregated accounts, separate from the operating accounts of each broker. In addition, should any issues arise, an independent auditor will step in to ensure that the broker has operated as per the requirements. Selecting either EuropeFX, iTrader or 24Option to be your trading partner, is the right choice and this will enable you to step int the trading arena with confidence.
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Trading Platform
The forex platform that you select to execute your trades from is likely to play a big part in your success. You want to choose a trading platform which offers you accurate trading quotes, reliable trade execution, account management, banking features, analysis tools, automated trading and as well as easy access to customer care personnel.
As three of the top forex brokers, EuropeFX, iTrader and 24Option offer all these features and more, as they have personalized versions of the world’s most popular online trading software, MetaTrader4 (MT4). For each broker, the software has been made available in all its versions. There is a browser-based version that does not require download as well as client apps for Windows and Mac PCs. In addition, Android and iOS apps are available. Being able to trade while on the go provides traders with flexibility and convenience and ensures that you never miss a potentially profitable trading opportunity.
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Uniquely, 24Option lets traders choose between MT4 or the company’s proprietary Scipio trading platform which is surprisingly easy to use, is highly secure and has an attractive interface. EuropeFX offers TradeWorks, which is a cloud-based algorithmic trader that spots possible opportunities and automatically executes trades accordingly. This platform works on user-defined trading strategies to open and close trades and it syncs directly with the MetaTrader 4 platform.
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Assets to Trade
24Option, EuropeFX and iTrader all boast a catalog of more than 100 different underlying assets, with the forex sections including most of the world’s major currencies, some minors and a collection of interesting exotic currencies. Some of the most popular currency pairs that are traded include: EUR / USD, GBP / USD, USD / JPY, USD / CHF, USD / CAD, AUD / USD, NZD / USD, EUR / GBP, EUR / CHF, EUR / JPY, AUD / CHF, AUD / CAD, AUD / JPY, DKK. Among the pairs based on minors and exotics are: EUR / HUF, EUR / NOK, EUR / PLN, EUR / TRY, EUR / SEK, USD / NOK, USD / PLN, USD / RUB, USD / SEK, USD / SGD, USD / TRY, USD / ZAR and USD / INR among many others. These brokers also offer a choice of other assets, allowing traders to diversify their trading portfolios with ease. You can trade shares, such as Alibaba, Sony, and Tesla; indices such as Nasdaq, FTSE and the Dow Jones; commodities, such as crude oil, gold and silver as well as cryptocurrencies, including Bitcoin, Ethereum and Ripple.
Broker Reviews – Educational Resources Education Center
The world of online forex trading may be overwhelming if you are a newcomer. This is because of the sheer volume of data that you need to process in order to know when to enter or exit a trade. Market analysis is a vital part of successfully trading online. In addition, you need to learn and master how to use the trading platform, the pricing charts and indicators as well. Without this information, you would simply be lost. With all this in mind, having access to a wealth of effective trading tools and educational resources is important for every online forex broker.
EuropeFX, iTrader and 24Option all have extensive educational resource sections, each boasting a comprehensive library of eBooks, access to webinars, a trading glossary to assist traders in understanding the terminology as well as video courses for those who prefer live-action lessons. The eBooks and videos are useful to traders at all levels, both newbies and experienced.
In addition, the EuropeFX education center has aneconomic calendar, which gives updates of major upcoming news events as well as a signals service from a regulated signal provider, Trading Central. Everything you need to trade forex effectively can be found on the sites of our selected, professional brokers.
Customer Service
The availability of comprehensive customer support is one of the reasons EuropeFX, iTrader and 24Option rank among the very best forex brokers in the business. EuropeFX has a friendly and helpful customer service team available via telephone hotline in the UK, Germany, Italy and Cyprus. Live chat or email are also available. In addition, there is a FAQ section on the broker’s website to answer the most common customer queries. What’s more, the EuropeFX website is also available in Italian, Dutch, Swedish and German.
There are several channels through which traders can get in touch with the iTrader team: support email, social media links, live chat or a web contact form. The broker also has local hotline numbers for 11 different countries, and the website is available in German, Spanish, Russian and Italian.
As you would expect from one of the biggest, oldest and most respected names in the business, 24Option has reliable 24/7 support offered via email, live chat and several localized phone numbers. The support team is multi-lingual, offering assistance in French, Spanish, German, Italian, and Russian, to name a few.
Conclusion
Although there are many online forex brokers out there, not all are created equal. Some, like EuropeFX, iTrader and 24Option, stand out thanks to reliable regulation, a transparent trading environment, a choice of a stable and mature trading platforms, multilingual support and a wide choice of tradable assets including forex. For people looking for the top forex brokers in the industry, these come highly recommended.