Providers

The ideal case scenario is that a broker offers different fee structures on different account types. Some accounts can operate with commissions but ultra-tight spreads, while others should offer commission-free trading with considerably low spreads. Commissionable ultra-tight spread accounts are Zero Spread account types but the commission should not exceed 3.5 US dollars per lot per trade. The Standard or Micro accounts of the most trusted Forex brokers with 0 commissions should offer spreads between 0.6 pips and 1.2 pips on the most popular Forex currency pairs. There should be no deposit or withdrawal fees applicable on payments with the broker and no hidden or administrative fees.

The most trusted Forex brokers have essentially regulated brokerage companies. In the Forex industry, regulation is the only guarantee that traders can get for safe trading and the security of their trading capital. These Forex brokers will take extra measures to protect you against various frauds, market crashes, cyberattacks, and even your inexperience. Most of them achieve the safety standard levels by offering Negative Balance Protection, segregated client accounts, GDPR Compliance, commission-free or low-cost trading, etc.

These brokers are regularly audited and monitored by their respective regulatory authorities meaning that in case of non-compliance with regulations and safety standards brokers will face legal consequences.

Trader guarantees are usually the protections from the losses that are caused by anything else other than the trading performance of an individual. No one can guarantee that you will profit from your trades. However, the brokers will offer investor protection programs that cover any losses arising from the company’s insolvency or financial crisis-induced losses. The best thing is that traders do not have to pay any fees for their fund’s protection. If the broker is a member of any protection fund whatsoever, the program automatically covers eligible losses.

The Forex industry is the largest financial sector in the world. Therefore, the competition between the participating companies is extremely high. This competition has a very positive effect on the quality of the brokerage services available on the market. It sets out certain market standards that the brokers are obliged to follow to attract customers and retain the existing ones on their trading platforms. However, it also causes a significant diversity on the market in terms of various fee structures, available financial instruments, account types of the brokers, and trading platforms offered to the clients.

Some brokers will be operating with commissions, while others will implement the cost within the spreads. The best Forex broker for beginners, for instance, would offer commission-free trading on special Micro, Cent, or Ultra-low trading account types. Furthermore, they will be providing free educational resources, promotional campaigns, flexible trading conditions, and other trader benefits, which we will cover below.

Demo accounts are usually used in three cases:

1. If you are a beginner and want to learn basics of trading on financial markets without risking to lose your own money.

2. When you want to test the conditions provided by the broker before opening a real account.

3. In case of testing your new trading strategy or EA.

After performing all necessary operations on a Demo account, you can start trading on a real account.