Best Forex Brokers Online



19

Best Forex Brokers Online

 

Investments in international markets can help you turn a smart profit and diversify your portfolio. In fact, online financial resource Investopedia.com reports that “the foreign exchange market accounts for more than $4 trillion” of the world’s daily trades. You’ll need the help of a foreign exchange (Forex) broker to make international investments. Look for a broker that offers fair commission prices, a streamlined user interface, and support for new traders. This list of the Internet’s top-rated online Forex brokers can help you find a trading platform that meets your specific needs.

 

Scottrade: Scottrade offers a simplified pricing scheme that should be a big hit for new traders. In fact, Scottrade’s $7.00 commission fee is good for accounts of any size. That means a user’s trading costs will stay the same in the long-term, even if their investments steadily increase. Scottrade also offers a low-price for broker assisted trades. These affordable fees will make it easy for new investors to get their feet wet right away. Scottrade also hosts a detailed Knowledge Center for newbies looking to learn more about trading before they take the plunge. Finally, Scottrade has hundreds of branch locations across the United States. These convenient locations make it easy to split time between online trades and in-person investments. Scottrade users can get in-person advice on their online investments too.

Minimum Balance: N/A

Standard Commission: $7.00

 

TradeStation: TradeStation’s hefty monthly fees and advanced investment tools may be too much for new investors. Seasoned traders, however, will appreciate TradeStation’s extensive collection of services; the company also assists customers with equities, mutual funds, and futures. Smartphone users can follow their investments and place a trade on the go with TradeStation’s mobile app. Intermediate traders should double-check their finances before making a switch. TradeStation users must balance a high minimum balance and pay a recurring charge when less than 5,000 shares are traded in a month. However, TradeStation is sure to impress experienced traders with heaps of funds to invest. Log on to TradeStation.com today to sign up for 60 days of free trades.

Minimum Balance: $5000.00

Standard Commission: $9.99

 

MB Trading: A manageable minimum balance and rock-bottom fees makes MB Trading another great option for beginners. Users can select from multiple trading programs to find a service that meets their skill-level. For example, MBT LightWave is an excellent introductory trading platform. New traders can experiment with MB Trading’s practice account too. Experienced traders looking to reduce their broker fees should check out MBT Desktop Pro. This versatile platform offers a long list of trading tools without a name-brand price tag. Like Scottrade, MB Trading is an excellent choice for new traders with plans to increase their investment activity in the future.

Minimum Balance: $1000.00

Standard Commission: $4.95

 

Interactive Brokers: This Forbes List-ranked Forex broker features a unique pricing scheme that will attract savvy investors. Commissions are priced per-share, with a cap set by the total cost of the trade. This pricing scheme allows traders to make small, short-term investments without having to balance the cost of the commission. Interactive Brokers provides a fully customizable trading platform interface too. Users can export their Activity Statements into PDF and HTML file formats. Plus, these statements can be modified to highlight and prioritize trading data. This high-end broker boasts recognition from leading industry resources as well. Financial resource Barron’s gave Interactive Brokers a nod in 2012 with their annual “Best Online Broker” award. Likewise, Interactive Brokers was recognized at the 2012 Wall Street Letter Institutional Trading Awards for their platform’s innovative uses of technology.

Minimum Balance: $.005

Standard Commission: $.001-$.0035

 

FXDD: FXDD is an appealing choice for intermediate traders looking to upgrade their trading platform and sharpen their trading skills. Traders can’t do better than FXDD when it comes to customer service: Users have access to a toll-free 24-hour phone support number, and multiple customer support emails. FXDD also serves customers with informative reading materials, helpful video lectures, and interactive learning tools. Though FXDD may lack some of the instant name-recognition of its competitors, this dynamic trading platform has been vetted by leaders in the Forex industry—the influential UK publication World Finance named FXDD as its top US broker for 2012. Visit FXDD online to test out this award-winning platform on a demo account.

Minimum Balance: $250.00

Standard Commission: $18.50

 

These are just a few of the quality Forex brokers on the market. With a few hours of research, you’re sure to find a broker that can help you take your portfolio to the next level. Consider visiting Forbes.com as you continue your broker search. The website’s comprehensive search tools and broker summaries make it easy to narrow down your top choices. Be sure to review a broker’s terms and fees before you start trading. A bit of careful reading will help you dodge extra fees and charges

 




Share Your Thoughts!


XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>