Reviews of Online Forex Brokers
Forex (forex exchange market) is a global financial market that is used to trade currencies.
For instance, if you want to speculate on how the USD is going to move against the Euro, then you will go to the forex market to place your trade.
The forex market is massive, which means that there is an incredible amount of liquidity. The average daily turnover is in the trillions of dollars EVERY DAY.
Forex trading can be extremely lucrative. However, you need to choose wisely when selecting a broker. If you are entrusting a forex broker when a decent amount of your money, then you will want to make sure that they are reputable and trusted.
Here are reviews of two online forex brokers that I believe deserve your business:
1. Etoro - 9.8/10.
Etoro is the largest online forex broker in the world. The company is very reputable (just search around) and is very well-funded (they are backed by numerous venture capital funds). Etoro literally has millions upon millions of traders, spread out over 100+ countries throughout the world.
Why do I like Etoro? Here are just a few of the reasons:
1. Initial sign-up bonus. Etoro will give you a bonus of up to $10,000 on your first deposit. The size of your bonus depends on the size of the deposit. This can be a great way to increase the size of your trading account right off the bat.
2. OpenBook. A very cool innovation that allows you to see the activity of fellow traders and even copy their trades. Etoro will show you the success rate of traders that you elect to follow, and if somebody seems to know what they are doing, then you can choose to mimic their trades. That's pretty cool.
3. Platforms. I really like Etoro's trading platform, and I also like the fact that they make their platform available through mobile devices as well.
4. Low spreads and no commissions. Self-explanatory. If you are looking to save money, Etoro is the online forex broker for you. It's very tough to beat their rates.
Click here to sign up for a demo account on Etoro!
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2. Forexyard - 9.6/10.
Forexyard is another major online forex broker that I have had some experience with over the years.
Here is why I like Forexyard:
1. Strong Trading Platform. You are not going to use an online forex broker if you have issues with their trading platform. Forexyard's platform is well-built and intuitive, in my opinion.
2. Smooth Account Opening and Withdrawal Procedures. Everything is streamlined with Forexyard, and opening up an account and withdrawing money are both a snap. Forexyard has a number of different deposit options, including Visa, Moneybookers and Bank Transfer.
3. Customer Service. There are a number of ways to get your questions answered by Forexyard, including email, live chat and telephone. You are rarely more than a minute away from getting a response from Forexyard.
4. Ability to Trade Gold and Oil. As a matter of fact, both Etoro and Forexyard offer the ability to trade gold and oil as well.
Click Here to Sign Up for a Forexyard Account
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I believe that both of these brokers will take good care of you. Sign up for a free account and give them a try!
Filed under: Company Reviews
