Which Are the 5 Best FX Brokers in the World and Why?

To trade global forex currency pairs, you need an intermediary that facilitates your orders instantly and ensures that there is no downtime. Such an entity is known as a forex broker. There are currently hundreds of thousands of FX brokers operating in the forex industry. Some of them have been around for several years while others have only just begun their service. Some brokers that have been in the market for a long time are worthy to be the best FX brokers because of their offerings, advantages, and experience.

The primary reason why there are not many great brokers available for forex traders around the world is that the criteria often exceed the usual broker’s capacity. Most importantly, such an FX brokerage platform has to gain a license from several regulatory agencies including CFTC, FINRA, FSA, DFSA, FINMA, etc. This turns out to be the most difficult criteria to fulfill for a lot of brokerage platforms. Aside from that, other functionality and technical requirements can be met with proper planning and support from the authorities. In this list by global-view are the Leading Forex Brokers for the Middle East that you can choose from.

But it becomes a confusing situation when traders cannot figure out which of the popular brokers are the best FX brokers. That is why we have come up with the 5 best FX brokers below. We also explain why they are seen as the best among several others active in the same financial market.

1. Simple FX

As the name suggests, this broker follows an easy trading format. This allows new and beginner-level traders to hone their skills. It is available through WebTrader, MT4, and even mobile apps.

Why SimpleFX is the best

• It is most suitable for MT4 users.
• You can trade and learn using SimpleFX.
• Perfect for multi-currency and cryptocurrency trading.

2. IG Markets

IG has been active in this industry for a long time and it has several awards from market experts for being one of the most high-quality brokers. Clients that connect with the IG Markets enjoy its application programming interface while trading almost 87 popular FX pairs securely. This broker is compatible with industry-favorite trading platforms like MetaTrader 4 and ProRealTime.

Why is IG the best?

• This broker platform is suitable for both advanced traders and beginners thanks to a range of highly impressive indicators and charting tools.
• From a customer service point of view, IG Markets has always been a favorite of all kinds of traders who make use of its low fees.

3. Forex.com

Forex.com is a popular broker which operates as a subsidiary of StoneX. Being one of the top-ranking FX brokers, this platform accepts US clients owing to the oversight of CFTC and also NFA. Other than these two, forex.com works with 6 major regulators around the world.

Why Forex.com is the best?

• This platform is an all-inclusive place for any forex trading enthusiast.
• New and seasoned traders can benefit from its educational aspect.

4. Interactive Brokers

US-based forex traders and several others have heard of Interactive Brokers. They run a brokerage platform offering the lowest costs for its services. Its world-class platform is ideal to trade binary options, forex, and US-license exchange funds as well. If you wish to cover a wide range of financial markets by diversifying your portfolio then Interactive Brokers is the one for you.

Why Interactive Brokers is the best?

• The reach of this particular broker exceeds more than 33 countries and up to 134 types of financial markets.
• Being one of the rarest comprehensive brokers that have low-cost fees, Interactive Brokers is far more affordable than its peers.

5. AvaTrade

For European forex traders, this particular broker site is a highly secure platform. This is because it has licenses from a total of 7 financial regulators across the world including UAE, South Africa, Europe, Australia, Japan, etc. Being one of the leading brokerage platforms, AvaTrade offers a wide array of tradable assets for all users that register.

Why is AvaTrade the best?

• Dependable broker with generous as well as profitable trading conditions.
• Traders can benefit from AvaTrade’s 400:1 leverage positions.

The above details are meant to be an overview of these specific FX brokers. However, the ultimate decision of trading with any of them is yours to make.