Adding things like futures, cryptocurrencies, and of course, foreign exchange, help a broker earn top marks. In this category, we measure the range of tradable assets available. Forex The range of instruments available among top brokers is quite staggering, with CFDs on thousands of products spanning every asset class and corner of the globe.
In terms of other fees, accounts with no trading activity for more than 12 months are subject to a $15/month inactivity fee. The website does not list additional fees for deposits or withdrawals. Standard account and commission account traders may also benefit from the Active Trader Program. The https://centralrecorder.com/dotbig-best-forex-broker-review/ program is open to anyone who opens an account with at least $10,000 or who trades $25 million of volume in a month. The program is not open to DMA account holders, as that account already has volume-based fee reductions. Our forex brokers also advise updated market hours and trading sessions.
Wide array of offerings and incentives target high-volume traders
In our reviews, we walk readers through the process of opening a standard account and give an idea of the questions they can expect to be asked and the documents they must provide. FOREX.com is for all types of traders seeking exposure to a wide array of products and asset classes https://centralrecorder.com/dotbig-best-forex-broker-review/ but is a good fit for the high-volume trader. Product offerings vary by region but the broker emphasizes fast and reliable execution, a variety of platforms, and account security. In the U.S., it is geared towards clients who want to trade the foreign exchange markets.
Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. Many or all of the products here are from our partners that pay us a commission.
Look and feel
Traders should select the payment processor with the lowest fees. Traders should evaluate copy trading features embedded in MT4/MT5. Traders with MT4/MT5 EAs must use the desktop client DotBig.com and the Standard account. Forex.com delivers an excellent choice across the board with only API trading missing. Islamic accounts are not available but corporate accounts are.
- Traders can be charged additional currency conversion charges.
- If you want to learn how MetaTrader platforms work, read our article.
- High-quality customer support is an indispensable part of having a good experience with a broker.
- Execution of trade orders, deposit and instant withdrawal of fund on request with amazing online banking.
- Forex.com established itself as an industry leader and is an overall trustworthy broker.
- For example, a broker with high quality educational materials and reliable customer service may be a good choice for an individual new to the markets.
Negative balance protection protects investors from losing more than they deposit into their accounts. FOREX.com does not offer negative balance protection for U.S. traders. This means that U.S.-based traders are responsible for paying more money than they initially deposited into their accounts. In other words, if a FX trade goes against a trader, the loss can be greater than the amount in the account, and the trader owes that money to the broker.