In the U. The spreads vary depending on the type of account the client chooses. Regions outside the U. The DMA account offers no markup on spreads, but a commission is charged. Standard account and commission account traders may also benefit from the Active Trader Program. The program is not open to DMA account holders, as that account already has volume-based fee reductions.
As is the norm in the FX industry, clients may be charged swap fees on positions they hold overnight, which can be subject to currency conversion charges if they trade in a currency other than the account's base currency. The website does not list additional fees for deposits or withdrawals. Clients can choose between the downloadable advanced trading platform or MetaTrader 4 MT4 for a desktop experience, the web trader for a browser-based trading experience, or choose the FOREX.
There aren't many drawbacks to the platforms. There are a sufficient amount of indicators and drawing tools to satisfy the avid technical analyst, and the platforms are functional enough to make rapid-fire trades, if needed. The charting package is provided by TradingView and is, by far, the most impressive aspect of the web-based platform. Placing trades on the web trader or the downloadable advanced trading platform is intuitive.
Clients can trade directly from charts by right-clicking and selecting the "trade" option or by clicking on the "buy" and "sell" buttons along the top of the chart. This brings up an order window where the entry, stop loss, and profit target are set. One-click trading can be enabled for rapid trade execution.
Additionally, the trader can choose to make the stop loss a trailing stop loss order. The one difference between the web-based and downloadable offering is that guaranteed stop loss orders are only available on the latter and, furthermore, only for U. VPS is available for MT4 accounts. The mobile app is functional, providing traders with access to all their account information. Traders can add or withdraw funds, view trade history, create watchlists, access news, and view charts from the mobile app.
It is also easy to navigate and set up. The charting feature is one of the drawbacks of the mobile app. There are a limited number of common indicators available, such as RSI, MACD, and moving averages, but drawing functions and more advanced technical tools are missing. Full order functionality is available, including conditional orders and the ability to easily place stop losses and profit targets at the time of a trade.
Functional demo accounts are provided for free, giving potential clients time to assess the pricing structure before committing real capital. The implication seems to be that you've had enough time to test our platform, so either open a funded "live" account or go elsewhere.
ET on Sunday to 5 p. ET on Friday. FAQs and website client support were satisfactory, but repeated attempts to contact via "live chat" proved to be unsuccessful. Social media support is not available, although they do have social media accounts where they post market analysis and company information. Phone support is the quickest way to have questions answered by a real person. There is a small menu to choose from at the start of the call. Wait times will vary based on call volume, but during a normal day you can expect to wait several minutes before being connected with a representative.
Email support is available for more in-depth questions but expect to wait one to three business days for a response. Clients can access content according to their experience level, or thematically. Commission account U. Highlights include an economic calendar, an integrated suite of modules from Trading Central, alerts, market updates, and news headlines from Reuters. The app also supports complex order types such as OCOs, trailing-stops, and a "close all" button which allows traders to exit multiple positions quickly for a given instrument.
Charts are powered by TradingView, and come loaded with nearly indicators, 14 timeframes, and ten chart types. The Advanced Trading platform features advanced order types, deep customization, and plenty of subtle-but-useful features — such as the ability to set price tolerance from within the trade ticket. I found the layout well-designed, easy to use, and rich with features.
Headlines stream from Reuters and a Trading Central-powered economic calendar is integrated across the site and platforms. For example, research tools powered by Trading Central are directly integrated throughout its suite of platforms, such as its popular Market Buzz, Technical Insight, and Analyst Views modules. That being said, pricing is not its strongest feature, and there is a general lack of video content for research and education.
There may also be fees when you deposit or withdraw funds — depending on your payment method. For example, its straightforward web platform delivers a good variety of both basic and advanced features, including risk-management tools and robust charts, making it a good choice if you are a less-experienced trader looking to develop your trading skills. Through its trading names and subsidiaries, including the City Index brand, Gain Capital operates in multiple countries and with licenses in several major regulatory hubs, including the U.
As an early pioneer in offering online forex trading in the U. Read more on Wikipedia. For our Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50, words of published research. Each broker was graded on different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure.
Read about Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.
Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company.
You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. The ForexBrokers. If you believe any data listed above is inaccurate, please contact us using the "Contact" link at the bottom of this page.
These trademark holders are not affiliated with ForexBrokers. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
The educational offering for U. Publicly Traded Listed. CFD Trading. Tradeable Symbols Total.
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