Online Forex brokers can be the most lucrative trading brokerages to trade with. They present vast amounts of opportunity to participate in the largest financial market in the world. With a daily trading volume of over $5.3 trillion, the Forex market dwarfs the volume of any other financial market available. Luckily for traders, they have numerous online Forex trading platforms to choose from and can benefit from the high liquidity and competition between them. Now that we’ve established an understanding of what Forex actually is and the extent of its nature, let’s discover more about online Forex brokers and the services they provide.
Forex Brokers List
What is a Forex broker?
A Forex broker is a company or firm that provides traders with a Forex trading platform that facilitates the buying and selling of foreign currencies. The Forex broker acts as an intermediary between the trader and the interbank- a network of banks that trade foreign currencies with each other.
How do Forex brokers work?
Online Forex brokers handle a portion of the overall foreign exchange market and offer their clients a forex trading platform to access this 24 hour global currency market. A Forex broker will buy and sell currencies for one another on behalf of a trader and collect the bid/ask spread on the traded currency pair. Some brokers will also charge a fee per transaction.
How to select the best Forex broker?
Traders have numerous online Forex brokers to choose from. However, not every forex broker is reputable or right for you. To select the best Forex broker, you must look into all aspects of the broker including commissions and fees, forex trading platforms, reputation, deposit and withdrawal methods, tradeable products, and so on.