What Is Forex Broker Comparison?

Comparing Forex brokers is an essential part of starting forex trading. Especially for forex newbies, they often get confused while trying to choose a broker for his/her very first trade.  Trust is the most important thing when the matter is choosing the right forex brokerage. And of course you will try to find a broker in your country, so nearest location/headquarter is a more popular thing to choose a forex broker comparison. Maybe, you will need to choose your best forex broker before starting the trade.

Facts to consider on forex broker comparison

There are several factors to think before picking up a forex broker for your trading using your MT4 or any other platform. Keep in mind that- the cutting spread is the most important factor when money is the reason. On the internet, you will find many spread comparison tool to compare spread and choose a broker.

Broker Comparison Tool

Use our brokers’ comparison tool below to compares all forex broker option to consider before making choice, and other useful features as well as fees. You can view them side by side for each broker house. You can filter three brokers at once and you will be able to compare the most popular and other valuable things to consider like trading from mobile apps, and other platforms, payment methods, spreads, and much more.

You can find our broker comparison tool sensible and decorated with high-caliber instruments. You will have enhanced information regarding trading conditions as well as other standards, such as account size limitations, minimum deposit limits, and broker regulation information...

Broker comparison facts

Regulating Authority

Broker regulation authority is a high prior matter in choosing up a forex broker. Forex market is a decentralized market. So if you trade without a regulated broker, you will get your money lost at any time. And no one will respond but you. That’s why we need to trade with regulated/ governmental supervisory bodies. These Forex brokers have required some paperwork for consumer security before they before they start operating, and to apply or to register with the regarding country’s regulatory authority. They will get approved by the government after doing several filling up paperwork which includes consumer like your security.

Trading with a regulated Forex broker ensures, expecting a vast level of quality control likewise- there are regular audits, authority reviews, and instructions. Sometimes they are forced to be maintained.

National Futures Association (NFA in the USA), the Commodity Futures Trading Commissions (CFTC in the USA), the Financial Conduct Authority (FCA in the United Kingdom), the Australian Securities and Exchange Commissions (ASIC), the Financial Services Authority (FSA in Japan) are the most well-known regulators worldwide.  Though, you can find many of the Forex Brokers to be licensed from the Cyprus Securities and Exchange Commission (CySEC) and the Financial Markets Authority in New Zealand.

Founded Year

You will find a very lucrative offer from a broker, but sometimes the offer causes time wasting and even, if you deposit, you will lose your real money if you didn’t use your strategy to trust your broker. Like when they have started their business. New brokers sometimes better, sometimes new brokers just grab money from clients and get away with it.

So, you need to be careful about time or founded year when you are about to choose a forex broker. Also since online is another level of trust to think of.

Payment methods

It is important to consider the deposit and withdrawal option before you choose a specific Broker. Also, you will need to find out their policy for different kind of payment methods related to deposits as well as withdrawals. Several broker house requires min. amount to be transferred from and to specific payment method. They have made their own terms in order to ensure they don’t lose extra money for their client’s action

Account Options

Brokerage houses have verity on account types and definitions regarding their account options. Demo account offered by almost all of them, STP, ECN type accounts offered by most brokers but they could have their own definition of the term of accessibility. You may look for commission’s availability, the maximum level of leverage to trade with more comforts, whether they support segregated account type. If you are a practicing Muslim then, you will try to trade in Islamic way using Islamic account type.

Many forex traders look for another factor on an account like “Managed Accounts”, “Institutional Accounts”, “VIP Accounts”. Though every broker doesn’t consider all of these terms you need to look closely with those options before picking up your trading broker.

Trading Platforms

Most common trading platforms are Meta Trader 4 (MT4) Meta Trader 5 (MT5), Mobile Trading. But you will find more platforms if you want to trade as you like. When you are done with a trading platform then software language is the issue to consider. Though many brokers offer Multi-lingual terminal for their clients and you will find your language is listed on it. Also, you will need to check OS version whether it is compatible or not with your current Operating System (OS). If you know how to keep eye on the real-time market then streaming news feed is needed. Usually, terminals like MT4 have integrated it with their software.

Trading signals are another issue for a terminal. You will need to look signals if you have experienced from terminal software signals. If you have a good experience then you may look for automated trading software (ROBOT) to trade with more flexibility. But keep in mind, this is not a good option to consider if you didn’t define policies for the ROBOT.

Email alert, mobile alerting system, market commentary availability is another important thing to remember.

Scalping

Scalping means making a profit in a very short time by buying or selling currencies and closing it fast. You will need to hold the position for a few moments only. Expert traders can make money by doing some analysis in the market. Usually, the policy of scalping is to create a profit by selling or buying currencies and holding a position for a short time and closing it for a smaller profit. several trades are placed throughout the trading day and also the system that is used by these traders is usually based on a collection of signals derived from technical analysis charting tools and is formed of a large number of signals, that create a purchase or sell call when they purpose within the same direction. A forex scalper looks for an oversized variety of trades for a small profit whenever.

Hedging

Hedging will protect yourself against a big loss.  You can call it trade insurance on your trade offered by brokers. Sometimes, your analysis, skills, experience won’t work. Then, Hedging is a good way for you to save from losses trade. If something unexpected occurred then it will be a good option indeed.

Gain more knowledge and grow skills

There are more options while you are trying to compare forex brokers such like charting package, trade from charts, trailing stops, guaranteed stop loss, guaranteed limit orders, guaranteed fills, interest on margin, one-click execution, OCO orders, mobile trading, web trading etc.

There are more issues if you search on the internet and your knowledge will increase if you study from forex learning websites.

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Logo
Title

DMM FX

OctaFX

NordFX

Broker Name

26

OctaFX

NordFX

WebsiteVisit WebsiteVisit WebsiteVisit Website
Headquarter

Level 13, 31 Market Street, Sydney, NSW 2000, Australia ACN 160 659 290|

Cedar Hill Crest, Villa, Kingstown, St. Vincent and the Grenadines,

113, Medine Mews, La Rue Chaussee, Port Louis, Mauritius

Founded

2013

2011

2008

Regulation

AFSL 437734

IFSA

CySEC (Cyprus), FSC (Mauritius), IFSC (Belize), SEBI (India)

Accept Us

Phone

+61280391800

+17844574224

+91 120 4533777

Fax

+61280790712

No

No

Email

au-support@dmmfx.com.au

support@octafx.com

support@nordfx.com

Website Lang

English, Chinese

English,Chinese, Indonesian,Malay, Spanish PortuGUESE and Thai

English, Chinese, Portuguese, Russian, Spanish, Arabic, Farsi, Hindi, Indonesian, Thai, Bengali and Sinhalese

Broker Type

Commission

1

1

Mini Account

yes

yes

yes

Vip Account

yes

yes

yes

Segregated Accounts

1

1

Islamic Accounts

yes

yes

yes

Free Demo Account

1

1

1

Institutional Account

yes

yes

yes

Managed Account

1

1

Maximum Leverage

1:600

1:500

1:1000

Min Deposit

200

5

5

Deposit Options

Bank transfer, credit/debit card,Paypal,Neteller, Skrill, Webmoney and More

Bank Wire , Debit/Credit Card , Neteller , Skrill , cashU, FasaPay, CHINA UnionPay, Indonesia Local Banks

VISA and MasterCard, bank transfer, WebMoney, Skrill, NETELLER, Payza, QIWI, PayWeb, Perfect Money, Z-Payment, FasaPay and more.

Withdraw Options

Bank transfer, credit/debit card,Paypal,Neteller, Skrill, Webmoney and More

Bank Wire , Debit/Credit Card , Neteller , Skrill , cashU, FasaPay, CHINA UnionPay, Indonesia Local Banks

VISA and MasterCard, bank transfer, WebMoney, Skrill, NETELLER, Payza, QIWI, PayWeb, Perfect Money, Z-Payment, FasaPay and more.

Metals

Yes

Yes

Yes

Oil

Yes

Yes

No

Gold

Yes

Yes

Yes

Indices

Yes

Yes

No

Stocks

Yes

Yes

No

Commodities

Yes

Yes

No

Etfs

Yes

Yes

No

Cfds

1

1

Platform Type

MetaTrader 4,

MT4 and cTrader (desktop, Android, iOS, Web-based client)

MetaTrader 4, MetaTrader 4 Multiterminal, MetaTrader 5, MetaTrader Mobile

Platform Languages

Multi-lingual

Multi-lingual

Multi-lingual

Os Compatibility

Mac OS,iOS,Windows,Android

Mac OS,iOS,Windows,Android

Mac OS,iOS,Windows,Android

Streaming News Feed

Yes

Yes

Yes

Charting Package

Yes

Yes

Yes

Trading Signals

Yes

No

Yes

Automated Trading

Yes

Yes

Yes

Trade From Charts

Yes

Yes

Yes

Market Commentary

Yes

Yes

Yes

Email Alerts

Yes

No

Yes

Mobile Alerts

Yes

No

Yes

Scalping

Yes

Yes

Yes

Hedging

Yes

Yes

Yes

Trailing Stops

Yes

Yes

Yes

Guaranteed Stop Loss

Yes

Yes

Yes

Guaranteed Limit Orders

Yes

Yes

Yes

Guaranteed Fills

Yes

Yes

No

Interest On Margin

1

1

One Click Execution

1

1

1

Oco Orders

1

1

Mobile Trading

1

1

1

Web Trading

1

No Deposit Bonus

Yes, $50 Forex No Deposit Bonus

No

No

Bonus For First Deposit

Yes, Deposit Bonus up to 30%

Yes, Deposit Bonus up to 50%

Yes, Deposit Bonus up to 55%

Bonus Based Volume

Yes

Yes

No

Other Bonuses

Yes

Yes

Yes

Live Link OpenOpen Live AccountOpen Live AccountOpen Live Account
Demo Link OpenOpen Demo AccountOpen Demo AccountOpen Demo Account
Expert Reviews

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