The best Foreign exchange brokers (also known as FX brokers or forex brokers) with the best online forex trading platform allow traders to buy and sell major foreign currency pairs through their platform. They offer a wide range of currency pairs to trade on including the EUR/USD, GBP/USD, and USD/JPY. The foreign exchange market is open 24/7 and a forex broker allows traders to speculate on price throughout the day. A benefit of making use of the best online forex broker includes the leverage they offer. This allows traders to trade much larger amounts than what is actually available in their account. Whilst this has the potential for high profits, this also increased the level of risk.
Forex brokers are compensated for their service by making money through the spread. That is the difference between the bid and the asking price. On top of this, some forex brokers can charge additional fees such as a transaction fee, monthly fee, or overnight fee. With increased competition between forex brokers, clients can now benefit from finding a broker that offers very low additional fees to the spread.
Check top forex brokers list with best online forex trading platforms: