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Broker Reviews New
any Forex Broker name in our list to be taken to a basic review of that
particular broker. These reviews generally do not try to sway you toward one
broker or another, we'd rather leave that up to you with the comments and
ratings you are allowed to give. We're adding more broker reviews every
day so check back as often as you like. Check out our Forex
Broker Reviews and
share your thoughts!
deposit field represents the absolute minimum the broker requires you to
deposit in order to open an account. We calculate this on what it costs
to create the lowest form account. If you compare Forex Brokers based on this
detail, you should keep in mind a lower deposit reflects the broker is probably
offering this with a mini or micro account.
Forex Broker Commissions
What it costs you per trade. Usually this is
calculated in the form of $X per 100,000 traded. FX brokers derive their
commission from the difference between the Bid and Ask price on every executed
trade. There are no additional fees charged to receive live data, nor are there
exchange fees. The account holder therefore pays no additional commission or
transaction fees, regardless of the outcome of the trade, which is obviously
attractive from the user’s perspective. If you compare Forex Brokers according
to this detail, keep in mind commission free Forex Brokers usually make money
by increasing the spread you need to pay. Instead of paying 1-2 pips on
EUR/USD, Forex.com for instance (a commission Free broker) makes your spread 3
Broker Max Leverage
This value for our list is calculated by
finding the particular broker's maximum allowable leverage which may vary
amongst account types offered by the same broker, please do a little checking
on this, you may see 500:1 and get scared off, but the same broker could offer
50:1 with a different account. At 50:1, traders post $2000 margin for a
$100,000 position, or 2%. Depending on the type of account, leveraging can be
as much as 100:1, requiring only $1,000 margin. Generally speaking, the lower
the initial deposit requirement, the higher the leverage offered. Brokers who
offer 400:1 leverage appeal to traders willing to take greater risk. Those
offering 50:1 have a tendency to appeal to conservative traders.
ECN Forex Brokers
An ECN Broker (Electronic Communications
Network) does not operate a dealing desk, but instead provides a marketplace where multiple market
makers, banks and traders can enter competing bids and offers into the platform
either inside or outside the spread, allowing traders to trade on narrow
spreads. ECN Brokers usually have a commission fee attached to each trade, but
if you calculate it, most of the time it translates into less than a pip per
E-Gold Forex Brokers?
Does a Forex Broker accept deposits from and
allow withdrawls to E-Gold? E-Gold is a very popular payment method online, and
at the same time you are investing in gold and your balance rises and falls
with the gold market. Experts say
gold will generally keep going up in the future, so it's not a completely bad
idea to invest in Gold in some way. If you can't afford buying real bullion,
then try E-Gold. Forex Brokers that Accept E-Gold are usually not the big Forex
institutions, be wary to deposit huge amounts of money.
MT4 Forex Brokers?
is a trading platform created by MetaQuotes. Some traders find this important
because MT4 allows for the importation of 1000's of third party indicators,
expert advisors, and custom templates to help you trade. MetaTrader4 Compatable
Forex Brokers are a rare find, there's only about 10 that I know of and they're
mostly in that list above.