The world’s best regulated Forex brokers for beginners and experienced traders. Scroll down to read our full review of their services and compare their online Forex trading platforms at a glance.
What is forex trading?
Forex stands for Foreign Exchange. Forex trading is when you sell one currency to buy another. Although this is something most people have to do, e.g. when they travel to a country that uses a different currency, large-scale forex trading is done for profit and it involves speculating about the future price of different currencies. If you’re ready to join the largest market in the world, check our reviews to find the best forex trading platforms for your money.
What is a pip in forex?
Pip stands for Percentage in Point. It’s a standardised unit referring to the smallest possible price change in a currency pair. For most pairs, the pip is fixed at 0.0001, which means that a one-pip move equals to a price change of 0.0001.
How does forex trading work?
Forex trading is very similar to buying currency before you travel, except you’re doing it for profit by speculating about price fluctuations. Forex trading is done in pairs, e.g. in the GBP/USD pair, GBP is the base currency and USD is the quote currency. If the pair’s exchange rate is 1.37, you need $1.37 to buy £1. If you decide to try forex trading, it’s important to pick the right platform and Brokerage Compare gives you an overview of the best forex trading brokers to choose from.
Is forex trading easy?
Forex trading in itself isn’t difficult. You’ve probably already done it, albeit in a very small scale before travelling to a country that uses a different currency. However, once you decide to trade currencies for profit, you need to start by finding the right broker for your money and our comparison tool makes forex trading for beginners easier and safer.
Do you pay tax on forex?
Online forex trading is becoming increasing popular and it’s important to understand your tax responsibilities. We strongly encourage you to check requirements for your country of tax residency. E.g. in the UK, forex trading is tax-free if performed as spread betting by an amateur but you may be liable for tax if you trade CFDs and your profits are above a pre-determined threshold.
What are the best forex brokers?
The single most important determining factor when picking a broker is whether they’re regulated. Brokerage Compare reviews and comparison tables only include regulated brokers and provide you with a breakdown of their services and fees to help you find the best forex brokers for your individual circumstances.
Best Forex Trading Platforms
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Tradable Assets: 2,000+ Max Leverage: 30:1, 400:1 Pro clients
Tradable Assets: 2,000+ Max Leverage: 30:1, 300:1 Pro clients
Tradable Assets: 1,250+ Max Leverage: 400:1
Tradable Assets: 2,000+ Max Leverage: 30:1, 200:1 Pro clients
Tradable Assets: 1,000+ Max Leverage: 30:1 CySec, 500:1 ASIC, 888:1 IFSC
Tradable Assets: 180+ Max Leverage: 30:1, 500:1 Pro clients
Tradable Assets: 120+ Max Leverage: 30:1
Tradable Assets: 300+ Max Leverage: 30:1 EU clients, 1000:1 non-EU Pro clients