Find the Best Financial Tools
Our team compares brokers, trading platforms, apps, stocks, and cryptocurrencies to help you find the best investment and trading opportunities.
Best Financial Tools
Best Brokers for ETF Trading
The exchange-traded fund (ETF) market has soared over the last 15 years, surpassing the mutual fund industry in value. Today, the global ETF market is worth nearly $8 trillion, up from approximately $400 billion in 2005. Everyone is hopping on the ETF bandwagon - and for good reason, too. ETF fees are lower, these investment products are easier to liquidate, and they are far more flexible. From index funds that mirror the S&P 500 to ETFs that concentrate on hydrogen energy, there is something for every type of armchair or institutional investor. But what about ETF providers? In recent years, there has been a significant number of brokers that allow you to engage in free ETF trading and buy an ETF online. But what would be the best place to buy an ETF anyway? We have compiled a guide on the top ETF websites in 2022. A Quick Look at Our Top 8 Best overall: FortradeBest for experts: Trade360Best for beginners: eToroBest for low fees: easyMarketsMost user-friendly: AvaTradeInternational Presence: plus500Best mobile app: eToro Is ETF Trading Profitable? There is a reason why ETF trading has become incredibly popular over the last several years. From hedge funds to retail investors, ETFs are widely used investment vehicles to park capital in a broad array of companies, sectors, or indexes. What makes them reliable tools is that you can either engage in "set it and forget it" investing or you can participate in day trading ETFs. So, yes, ETF trading is highly profitable. That said, you still need to employ the same strategies, technical analysis, and other mechanisms to ensure you are executing the right trade. Otherwise, you will walk into a position blind and without a cane. In other words, due diligence is still critical to profiting from ETF investing. How We Chose Our Brokers Choosing the best ETF brokers was not an easy process. We used specific criteria to determine what brokers were the best for adding exchanged-traded funds to your overall investment portfolio. We listed specific types of brokers, as well as the overall best place to buy an ETF. We assessed the following components: Fees and commissionsQuality of customer serviceETF selectionUser experienceBest app for ETFs Broker Reviews’ Choices of Top ETF Brokers Best overall Fortrade is a derivatives broker that offers various investment products, including forex, Contract for Differences (CFD), and, of course, ETFs. With CFDs, you do not own the underlying asset. Instead, you are trading based on the movement of the price. Fortrade merges the best of both CFDs and ETFs. For example, three most of the popular products are available to trade as CFDs: ProShares UltraPro QQQ Long ETF CFD (TQQQ)ProShares UltraPro QQQ Short ETF CFD (SQQQ)USO Oil Fund (USO) Because Fortrade keeps growing in popularity, and the ETF market continues its acceleration, it is quite likely that the trading platform will expand its product selection. Fortrade Pros and Cons ProsNo hidden fees, commissions, or deposits24/5 customer supportHighly regulatedDemo account availableFree education resources and toolsConsLimited selection of ETFsLong withdrawal process Best for beginners How many ETFs does eToro offer users? At the time of this writing, there are 264 ETFs to choose from. All the big ones are available to invest in: SPDR S&P500 ETF (SPY), iShares Silver Trust (SLV), Global X Uranium ETF (URA), and so many more. The list of ETFs available to trade on the platform will tell you the buy and sell prices and buying sentiment. eToro Pros and Cons ProsFree stock and ETF tradingSocial tradingFast account openingEducation resources and toolsDemo account availableConsInadequate customer serviceHigh non-trading feesOne base currency supported Best for low fees For more than two decades, easyMarkets has been able to maintain low trading fees, allowing it to stay on top of its industry rivals. Aside from the fees, which are great for investors looking to save money on trading, easyMarkets provides users with a curated selection of the world's most popular exchange-traded funds. easyMarkets Pros and Cons ProsNo deposit or withdrawal feesLow minimum depositIslamic account offeredDemo account availableNo commission charges on ETF transactionsConsDisappointing customer supportVPS not available to clients Most user-friendly Does trading have to be difficult? Of course not! The user interface on Avatrade makes sure that online investing is as simple as possible without the headaches of industry jargon and complex investment tactics. It is a transparent process, from trading to the fees. This is why it has been a successful trading platform for 16 years. Avatrade Pros and Cons ProsLow trading feesLow non-trading feesMinimum deposit is $100Fast account creationSix base currencies offeredConsLimited product selectionHigh inactivity feeSlow withdrawal Wide variety Henyep Capital Markets released a long list of ETFs on its MT5 trading platform. Many market analysts questioned this decision at the time because the announcement occurred at the height of the pandemic-induced market meltdown. But the multi-regulated CFD and forex provider apparently made the right decision as the financial markets hit all-time highs. HYCM Pros and Cons ProsLow trading and non-trading feesFast and user-friendly account creation processPlenty of educational resources$0 withdrawal feeSix base currencies supportedDemo account availableConsHigh inactivity feeDifficult user experienceNo two-step security process International Presence There is no doubt that Plus500 maintains one of the comprehensive ETF product lines in the industry today. Whether you want to mirror the composition and performance of index funds or you want to invest in specific sectors, Plus500 can help you achieve your investment objectives. Plus500 Pros and Cons ProsTerrific user experienceFast and easy account openingExceptional customer serviceLow trading and non-trading fees16 base currencies supportedDemo account availableConsAverage feesLackluster research toolsHigh inactivity fee ETF time It is not only forex time, but it is also ETF time at FXTM. That's right. This trading platform that is well-known for its foreign exchange trading opportunities has also delved into the world of ETFs. And, so far, it is not too bad either! FXTM Pros and Cons ProsFast account openingLow commission feesExcellent customer serviceNo deposit feeLibrary of educational resourcesConsHigh inactivity and withdrawal feesLimited suite of ETFs Best for Experts Do you want to get in on UNG? Do you think QQQ has hit a bottom? Is SPY on your long-term trajectory? Whatever the case, ETF trading, especially within the CFD realm, is quite popular at Trade360. With some of the top trading resources, tools, and platforms on the web today, you can increase your earnings or avoid steep losses on Trade360. Trading360 Pros and Cons ProsWebTrader 4 and MetaTrader 5 availabilityVarious account typesCrowdTrading toolHigh retail leverageFast account creationNo trading or commission feesConsHigh minimum deposit of $250No Islamic account Final Verdict: Which Broker Is the Best for ETF Trading? In the end, Fortrade is the best choice for your ETF trading needs. The trading platform maintains a treasure trove of features and resources that can facilitate your ETF investment. Fortrade possesses a user-friendly design, a wide range of trading options, and low fees and commissions. ETF trading does not have to be complicated, and neither should the trading platform you use!
Best Brokers That Offer Demo Accounts for Forex Trading in 2022
Walking blindly into the financial markets without any experience or practice is a risk not worth taking. You would be throwing money down the drain since the markets do not always go up, be it forex or commodities. This is why the free demo account for forex trading was created. Your typical forex trading demo account gives you the opportunity of practicing investing, verify your strategies, and help you develop some know-how about paper trading forex. But where should you try out these types of accounts where you can practice currency trading? Luckily for you, there are plenty of websites with free forex practice accounts for beginners. A Quick Look at Our Top Brokers That Offer Demo Accounts Best overall: FortradeGreat variety: AvaTradeLowest fees: easyMarketsInternational presence: IronFXBest for reliability: HYCMBest for beginners: eToroGreat interface: Plus500Lowest commissions : FXTMMost user-friendly: IQ OptionBest for experts: Trade360 How Long Should You Demo Trade Forex? If your goal is to turn consistent profits, develop reliable strategies, and learn a pattern in the broader markets, it is best to practice FX trading or demo trade any other asset for at least three months After this period, you should dip your toe into the financial markets, but continue to use a forex demo app to fine-tune your investment skills. This is especially helpful if you plan to invest immense sums of capital into the markets. Even if you are applying the golden rule of trading (only risk 10% of the total amount available amount for investing), it is still wise to maintain a demo account. How We Chose Our Brokers When we performed our due diligence and conducted the necessary research, our team explored the various features and resources from each, especially the demo accounts that are offered on these trading platforms. But the overall broker is critical, too, since you want to embark upon trading on these platforms. As a result, we considered the following: Virtual forex tradingFees and commissionsInterface design and user experienceQuality of customer servicePlatform features Reliability and responsiveness of the platform Below are the best brokers that offer demo accounts according to the research and reviews conducted by the Broker Reviews experts. Broker Reviews’ Picks for the Top Brokers That Offer Demo Accounts for Forex Trading Best overall Fortrade is a derivatives brokerage firm that offers customers trading platforms for trading forex and CFDs. From the reliability and range of investment products to the user-friendly interface, Fortrade's demo accounts provide as much as the live accounts and traders get access to the same functionality. Fortrade Pros and Cons ProsNo hidden fees, commissions, or depositsUser-friendly interface made for traders by tradersManage and trade portfolio from anywhere and anytime on any deviceConsLong withdrawal process (up to 13 days)Too basic of a platform Great variety AvaTrade is a trusted global trading platform that offers extensive trading services, including a demo account that provides traders with $100,000 (or currency equivalent) in virtual funds. AvaTrade Pros and Cons ProsCopy trading availableStrong mobile presenceLarge selection of cryptocurrenciesConsLimited suite of portfolio productsHigh inactivity fees Lowest fees When you are looking to participate in a demo account, you want to become acquainted with a top-of-the-line trading platform. Well, get to know easyMarkets. This is is an award-winning trading platform that offers users the ability to trade shares, indices, commodities, cryptocurrencies, and ETFs. easyMarkets Pros and Cons ProsAccess to 200 plus marketsStrong mobile accessReliable customer supportImpeccable market analysis toolsConsNo copy trading servicesNo investment programs International presence IronFX is a Cyprus-based broker providing access for speculators to the retail foreign exchange market. Its demo account allows you to become more acquainted with the forex market. IronFX Pros and Cons ProsOffers a prompt account opening processZero spreads on some accountsNo withdrawal feesConsPlatform limited to forex and CFDsHigh inactivity fee Best for reliability Henyep Capital Markets is a trading platform that offers trading in CFDs on forex, indices, commodities, stocks, and cryptocurrencies. What better way to become affiliated with its trading platform than by utilizing its demo account? Pros and Cons of HYCM ProsLow forex and CFD feesPlenty of educational content and resourcesEasy account openingUser-friendly interfaceConsLimited to forex and CFDsHigh inactivity fee Best for Beginners When you are searching for the best trading platform to learn the basics of trading, eToro is your option. The website is the world's leading social trading platform that offers investing in stocks, cryptocurrencies, and CFDs. eToro Pros and Cons ProsFast execution of tradesTight spreadsDifferent types of accountsEasy account creationTerrific customer supportConsUncompetitive fees and chargesNot suitable for discount traders Great interface When you are situated in Europe and want to practice trading, you want to find a trading platform tailored to your jurisdiction. Meet Plus500, the largest CFD provider in the United Kingdom, Germany, and Spain. Plus500 Pros and Cons ProsEasy to use platformQuick and convenient accounting opening processTerrific customer supportConsLimited product line (only CFDs)Limited research tools for beginners Lowest Commissions FXTM is a worldwide leader in online financial trading and investing. The platform offers a suite of investment opportunities in FX, indices, and commodities. FXTM Pros and Cons ProsLow trading feesLow forex feesLow financial ratesNo deposit feesEasy and fast account opening processConsHigh CFD feesInactivity feeWithdrawal fee Most user-friendly IQ Option is a popular online trading platform that allows users to trade a variety of financial instruments, which is extremely helpful in demo trading. IQ Option Pros and Cons ProsOffers a wide variety of trading instrumentsNo deposit feesNo withdrawal feesConsMT4 and MT5 platforms not offeredClients from U.S., Canada, and Australia not allowed Best for experts Trade360 is a CFD and forex broker that specializes in crowd trading, a feature that can help you improve your overall performance once you are prepared after some demo trading. Trade360 Pros and Cons Prosoffers conflict-free trading through its STP order execution modelControls proprietary CrowdTrading toolProvides quality research and educational toolsConsLow asset selectionNo cryptocurrencies The Final Verdict: Which Broker Is the Best for Demo Trading Forex? So, in the end, what forex trading demo account is right for you? Fortrade is at the top of the mountain with its demo account. The trading platform allows you to open a free demo account with about $10,000 in virtual money, which is excellent when you want to learn how to trade the world's largest, volatile, and liquid financial market. When you are ready, you upgrade to a real account within moments. Fortrade helps you every step of the way.
Best Brokers for Day Trading in 2022
Day trading has exploded in popularity over the last couple of years, buoyed by the growth in armchair investors entering the market at the beginning of the coronavirus pandemic. Thanks to a historical bull run that allowed anyone with a brokerage account to turn a profit, many individuals have tried their hand at day trading, utilizing everything from technical analysis charts to day trading apps. Whether you want to enter the game or upgrade your tools, we have compiled a guide of the best brokerages for day trading. A Quick Look at Our Best Brokers for Day Trading in 2022 Best overall: FortradeGreat variety: AvaTradeLowest fees: easyMarketsInternational presence: IronFXBest for reliability: HYCMBest for copy trading: eToroGreat interface: Plus500Best for beginners: FXTMMost user-friendly: IQ OptionBest for experts: Trade360 Is Day Trading Profitable? When you sign up with one of the many top brokers for day trading, you will typically come across a statistic warning you that 70 percent, 80 percent, or 90 percent of day traders lose money. Indeed, it can be challenging to earn a livable wage while day trading, which is why not everyone participates in this investment strategy. That said, day trading can still be profitable if you possess enough capital, develop a strategy, remove emotion for your trades, and stay the course when you have a plan. How We Chose Our Brokers When searching for the best stock broker for day trading, it is imperative to utilize a broad array of criteria to determine the best day trading broker for beginners or the best platform for a seasoned day trading extraordinaire. When evaluating these platforms, we comb through various components for traders of all skill levels. Here is what we assessed: User experience on the platformCommissions and feesAvailability of financial assets, trading options, and programsQuality and availability of customer supportSafety of the trading platform Broker Reviews’ Picks for the Top Brokers for Day Trading Best overall Fortrade is possibly the best way to begin day trading. In addition to the terrific platform experience and competitive pricing for trading many different assets, Fortrade also maintains a treasure trove of educational courses, webinars, ebooks, strategies, and glossary of trading terms. Fortrade is perhaps the best free day trading platform and one of the best forex brokers for day trading. Indeed, take your pick on what you are investing, and Fortrade will be there! Fortrade Pros and Cons ProsSmall minimum depositMany financial assets to choose fromLeverage availableSpread from two pipsZero commissionWell regulatedIslamic accounts availableMultiple languagesConsNo 24/7 supportSpreads might be high for several assetsWithdrawals take too long Great variety AvaTrade is one of the pioneers behind online trading, be it forex or equities. The website has nearly two decades of experience, offering clients plenty of investment options, tools, and accounts that suit their needs. Is this the best platform for day trading? If you are a beginner, not necessarily. However, it could be another resource to put into your trading toolkit. AvaTrade Pros and Cons ProsEasy account openingExceptional research and analytical tools1,200+ financial instrumentsWell regulated in multiple jurisdictionsVarious trading platforms (MT4 and MT5)ConsUncompetitive feesHigh inactivity feesU.S. clients not accepted A low-fee broker If low fees are one of your chief components in selecting a day trading platform, easyMarkets is right for you. Since it's a CFD broker, you can trade a whole host of investment vehicles, such as forex, cryptocurrency, stocks, and more. With more than 20 years in operation, easyMarkets has satisfied many clients with its competitive pricing and up-to-date user platform. easyMarkets Pros and Cons ProsMultiple awards and accoladesNo withdrawal or deposit feesNo inactive account chargesMultiple trading platformsSeveral languages offeredExcellent customer supportConsU.S. clients not acceptedLimited product offeringSmaller number of regulators compared to competitors A top global forex broker While it was initially a digital financial trading website in 2010, IronFX quickly morphed into a one-stop-shop for your forex, CFD, and social trading needs. Whether you are a beginner armchair trader or a seasoned veteran of the business, IronFX is a reliable choice for all of your day trading efforts. Pros and Cons of IronFX ProsNo withdrawal feeMT4 trading platform availableLeverage offeredDemo account availableSlow withdrawal processConsInactivity feesNo 24/7 customer serviceLack of educational toolsLackluster digital security High commissions per lot A dependable trading platform It is impressive to see that a financial company started a half-century ago is still around and innovating the online financial community. Indeed, Henyep Capital Markets provides clients with terrific trading instruments to enhance their day trading objectives. HYCM Pros and Cons ProsLow feesEasy account opening processLots of resources to readDemo account providedNegative balance protectionReliable mobile applicationConsLimited range of productsInactivity feeSmall number of regulatory organizationsInadequate customer service Great for copy trading In recent years, eToro has become one of the most popular global online trading platforms. At first, it concentrated on foreign exchange, but it upgraded its network and began offering multiple assets, with the added touch of copy trading. This is where it can be helpful for first-time day traders who need some guidance and assistance to maximize their positions. eToro Pros and Cons ProsBest copy trading websiteLow minimum depositVarious trading instrumentsEasy account openingZero commission tradingLeverage availableConsPoor customer serviceHigh non-investing feesMinimum trade70% of users lose money Great interface Plus500 is a highly reviewed and well-trusted global fintech trading platform that offers more than 2,500 financial instruments through its Contracts for Differences (CFDs). While it might not be suitable for novice investors due to its lack of resources, Plus500 can be a reliable alternative when you are not satisfied with another website for your day trading objectives. Plus500 Pros and Cons ProsEasy to create accountReliable customer serviceDemo account providedNo deposit or withdrawal fee16 base currencies to choose fromSafe and secure systemConsUncompetitive CFD feesInadequate research toolsInactivity fee Best for beginners When you are interested in day trading foreign exchange, commodities, and indices, you might want to consider FXTM (ForexTime). For more than a decade, it has been the go-to source for many budding day traders and other armchair investors who desire the opportunity to profit from active trading and other investment programs. FXTM Pros and Cons ProsExcellent educational resourcesEasy and fast account openingMT4 and MT5 available to useProprietary mobile trading optionCopy trading supportedReliable customer serviceConsHigh inactivity feesWithdrawal feeHigher than average CFD fees Most user-friendly After popping up on the online trading scene in 2013, it has become a growing force in this industry, driven by its premier award-winning mobile trading app and suite of forex, stock, ETF, and options trading products. With its mobility and product selection, IQ Option could be a top day trading broker. IQ Option Pros and Cons ProsMinimum trade is $1Zero commission tradingNo withdrawal fees24/7 customer supportDemo account availabilityInstant withdrawalConsNo MT4 or MT5 avaialabilityNo fixed spread accountsLimited commodities products (4) Best for experts Trade360 might not be a reliable trading tool on your smartphone, but it is still a decent investment hub for CFD, forex, and commodities trading. It is an appealing online trading platform because of its CrowdTrade, a live, real-time feed of market events. It also maintains a sentiment indicator, which can help you determine how others view the stock market. Trade360 Pros and Cons ProsMinimum 0.01 lotNegative balance protectionSeparation of client deposits from corporate fundsHigh leverage ratiosMulti-lingual supportConsHigh minimum depositPoor mobile trading experienceExpensive spreadsMT4 not available The Final Verdict: Which Broker Is the Best for Day Trading? A quick Google search will yield many pages of brokers offering the best account for day trading. Knowing which one is truly exceptional and tailored to your needs can be challenging. In our opinion, Fortrade or Trade360 would be the top brokers for day trading because of their easy-to-use platform, low fees and commissions, and impressive portfolio of products.
Top 6 Forex Brokers for Day Trading
As an activity, forex trading holds a significant share in the online trading market. With the popularity forex exchange trading has amassed globally, it’s quite likely someone you’ve met before has done their share of forex trading in the past. Even with the popularity it has gained, beginners are still trying to learn how to earn money. Before we get into the details of forex trading, it’s important to know how to take the first steps. It’s critical to do a great deal of research before choosing an online broker to start investing real money. When it comes to day trading, a popular form of trading for beginners and intermediates alike, there are too many platforms on the internet to start with. The first step in the right direction is knowing how to select the best forex brokers for day trading. There are many things to keep in mind when selecting your trading platform. Of course, there are many options fit for just about anyone. Let’s take a dive into our top 6 picks for trading platforms & the best forex brokers for day trading. A Quick Look at Our Top 6 Best overall: FortradeBest for beginners: eToroLowest fees: easyMarketsMost variety: AvaTradeMost user-friendly: HYCMLowest commissions: IronFX Can Forex Day Trading Be Profitable? Like most activities, without the proper knowledge and understanding of forex trading, it’s quite unlikely to be profitable for you. Although the forex market is available 24 hours a day, it’s essential to know the volatility to understand how you can profit from it. If you’re inexperienced and unprepared, you can lose a substantial amount of your investment. That being said, forex day trading can be quite profitable. In fact, it’s not difficult to make a profit in forex day trading by adopting certain strategies and trading approaches that help in better risk management and control. If you’re careful enough, it is easily possible to gain more wins than losses and regularly turn a 10% profit on your investment every month. Not to mention that you can start a promising trading portfolio with an investment as low as $100 at the right platform. How We Chose Our Picks Now that the basics are behind us, we’re in a better position to explain the best platform for day trading. Ideally, the best approach is to find the most secure and regulated day trading broker that has the minimum commission rates and offers convenient banking. Let’s dive into this a little further by explaining how we choose the best brokers: Regulation & security A step vital to becoming successful in day trading is finding an online broker that’s secure. In simpler terms, this means that the platform is regulated and keeps your data & finances in check. The first factor we’ve considered in our picks is user protection and rights, which can ensure that a trading platform is secure. Reliable tools & technology Although all platforms must adhere to a certain standard, the best brokers will make sure to adopt modern trading tools so that beginners and intermediate traders can stay in the right direction. Account features Every forex broker provides different account features for its users. Namely, the essential account features can be listed as fair leverage and margin, minimal commissions and spreads, fair initial deposit requirements, and lastly, the ease of doing banking. Available currency pairs While there are many currency pairs available for trading, just a few manage to get the most attention and, as a result, trade with the most liquidity. A broker should have a large number of forex pairs to offer, with all the pairs that interest you as a potential day trader. Broker Reviews’ Picks for the Top 6 Brokers for Forex Day Trading Best overall Fortrade, being a trading company with goods and services for online foreign currency exchange and CFD trading, was founded in the United Kingdom in 2013. Since then, Fortrade has expanded its operations throughout the world, opening branches in Australia and Belarus and, lately, even in Cyprus and Canada. Recently, Fortrade has taken the industry by storm thanks to offering almost everything a day trader needs. In addition to having a variety of tools for both beginners and advanced traders, Fortrade also has more than enough market instruments on offer - whether it's forex, stocks, indices, or ETFs. Fortrade Pros & Cons ProsGreat for beginners and intermediates alikeIs safe and holds multiple licensesOffers plenty of tutorials and educational materialAverage-to-low spreads and feesConsCustomer support is slightly lacking Best for beginners eToro was founded in 2007 and is a well-known Israeli fintech startup and social trading broker. The Financial Conduct Authority (FCA) regulates eToro in the United Kingdom, and the Australian Securities and Investment Commission (ASIC) regulates the company in Australia. As a broker, eToro is the best choice for traders looking to invest minimal effort in forex trading while also having decent profit. While eToro still has room to improve to become our top pick and surpass Fortrade, it's still a great choice for traders who'd like to try the social trading dynamic. eToro Pros & Cons ProsOffers the best social trading mechanicEasy to open an account and start tradingExtremely safe and reliableConsHigh account inactivity fees Lowest fees EasyMarkets was founded in 2001, initially as easyForex, in the times when day trading was still in its infancy. The goal of easyMarkets was making foreign currency trading accessible to everyone, anywhere, and at any time. Since then, the business has evolved and expanded, and in 2015, it was renamed easyMarkets. The brokerage has won multiple trading awards, sponsored various international forex shows, and kept up with the ever-changing times by adding several platforms and trading products to its solid array of offers. easyMarkets Pros & Cons ProsExperienced brokerage, more than 20 years of experienceOffers MT4 supportPlenty of educational materialHas a solid range of market instrumentsConsNot very user-friendlyNeeds better customer support Most variety AvaTrade was established in 2006 as a global CFD and forex broker. Several financial authorities (including the Central Bank of Ireland) regulate it, ensuring that it’s safe. From our research, we’ve concluded that AvaTrade is a broker that’s worth trying for day trading, but it’s primarily used by most traders for stocks and shares. Although it's not as good as the other top picks on this list, AvaTrade is still a relatively solid broker for day traders. The tools it has on offer are more than enough for beginners, although some advanced traders might find them lacking. AvaTrade Pros & Cons ProsOffers plenty of advanced tools to do perform market researchHas a good range of investment productsMinimal to non-existent feesConsHigh inactivity fees Most user-friendly Henyep Markets, also known as HYCM, is a global CFD and forex broker that has been around for a while. Henyep, the parent business of HYCM, was founded in 1977 having almost 50 years of experience as a company. Several financial regulators throughout the world regulate the broker, including the UK Financial Services Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), ensuring that it’s safe. Although HYCM is not as good as Fortrade or eToro for day trading, you can still consider it if it offers something you're specifically interested in. HYCM Pros & Cons ProsA safe broker with roots from the 1970sOffers plenty of educational material for beginnersEasy to open an account and start tradingConsOutdated website designHigh inactivity fees Lowest commissions IronFx provides a wide range of forex and CFD market instruments, but it’s slightly lacking when compared to the other brokers on our list, like AvaTrade and Fortrade. Still, its commission structure, execution types, and cheap deposits & withdrawals deserve praise, placing it among the top options. IronFX Pros & Cons ProsCan be used by both beginners and advanced tradersOffers convenient research tools No withdrawal feesLow spreadsConsConfusing fee structuresNeeds better customer support Final Verdict: Which Broker Is the Best for Day Trading Forex? Now, the most important question of them all - which broker is the best? Well, there’s no one-size-fits-all answer to this question, since you are the core of your day trading plans and expectations. Though we do recommend choosing between Fortrade and eToro. If you’re an experienced trader, it’s better to skip basic trading platforms and jump right into the advanced ones with complex charting tools and market data analysis. For beginners, on the other hand, it might be better to look for simpler & straightforward platforms with smaller fees to get hands-on experience in the complicated trading industry. It would be best if you judge all platforms based on your needs. In this article above, we’ve rounded up all key features of our top picks so that you can choose the one that suits you best. All that’s left is for you to pick yours.
Top MT4 Brokers
Before investing online, let us help you find the right broker for you. MetaTrader 4 (MT4) is a highly sophisticated platform that was first launched in 2005. It supports a wide range of tools for technical analysis, as well as the automated trading tool, Expert Advisor (EA). MT4 can be either accessed online or downloaded to any computer or mobile device. MT4 is one of the most popular, widely used trading platforms for forex and CFDs in the world today. A Quick Look at Our Top MT4 Brokers Best MT4 broker: FortradeBest for beginner traders: easyMarketsBest overall: AvaTradeBest for forex trading: HYCMBest for flexible investors: IronFX How We Chose the Best MT4 Brokers When choosing the right MT4 broker, you must understand its advantages and disadvantages. However, certain features and aspects are vital for every brokerage, and we made sure they met those standards before including them on our list. Here is what we looked at when making our decision: Safety and securityInterface design and user experienceAccess to analytics and real-time data Reliability and responsiveness of the platformAvailability of trading optionsQuality of customer service Below are the top brokers that are MT4-compatible, according to the research and reviews conducted by the Broker Reviews experts. Broker Reviews' Picks for the Best MT4-Compatible Brokers Best MT4 broker Fortrade is one of the top online trading platforms and offers clients a wide range of products to help them on their zero-commission investment journey. Whether you want to trade stocks or you want to invest in cryptocurrencies, the Fortrade destination is a one-stop-shop for all your investing needs. It is appealing to all types of investors - seasoned traders and novice armchair investors. With only a $200 deposit requirement and many resources at your disposal, you can lay down the path to capital gains. Pros & Cons of Fortrade ProsLow minimum depositMany instruments to choose fromHighly regulatedConsInactivity feeHigher spreads Best for beginner traders Twenty years of experience, an award-winning platform, and an extensive list of investment options. These are components and features that easyMarkets brings to the table for traders of all stripes. Whether you are searching for foreign exchange trading or indices, easyMarkets has what you need. The website is easy to use, convenient to navigate, and resourceful. And, if you are concerned about regulations, it is regulated in a one-tier jurisdiction and one-tier 2 jurisdictions, making it a safe broker to patronize. Pros & Cons of easyMarkets ProsDemo accountDifferent ways to tradeMinimum depositIn existence for 20 yearsRegulated by multiple bodiesNegative balance protectionRecipient of many awardsMinimal feesConsSmall number of stocks offeredOnly 12 commodities offered Best Overall AvaTrade is an online trading platform that also provides its customers with dozens of assets to choose from, whether it is conventional forex pairs (USD/CAD or GBP/JPY) or CFDs for commodities. What makes AvaTrade appealing to clients is its several trading instruments and tools: MetaTrader 4, MetaTrader 5, and AvaOptions. In fact, because of these programs that are on the platform, AvaTrade is considered to be one of the top MT4 brokers on the web today. This zero-commission trading platform proffers 24/5 customer support, competitive spreads, local regulations, and, most important of all, powerful technology. Pros & Cons of AvaTrade ProsFast account openingLow account feesTerrific research toolsWell regulatedBroad asset selectionDiverse trading platformsConsHigher forex feesHigh inactivity feeAvaTrade not available in the U.S. Best for forex trading Henyep Capital Markets is a four-decade-old trading platform regulated in two tier-1 jurisdictions and two tier-2 jurisdictions. Although discount traders can still take advantage of its services, HYCM is recommended for serious investors and active traders with a lot of capital at hand. That said, HYCM is a MetaTrader 4 broker that provides integration capabilities. So, if you are planning to access the company's more than 100 different financial instruments, you can be confident that you have the means and 24/5 customer support to successfully do so. Pros & Cons of HYCM ProsPrice alertsLow feesVast resources and toolsRegulated by top authoritiesFast account creation and activationMany different account typesConsInactivity feeLimited products Best for flexible investors IronFX is an award-winning trading platform that prides itself on offering the best online forex trading experience anywhere on the internet. IronFX has more than 100 tradable assets on some of the biggest markets today, such as CFDs, social trading, and stocks. The chief features that many users will point to are its MT4 integration, $100 minimum deposit, and 100 percent sharing bonus. For the more serious investors, IronFX also offers a maximum leverage ratio of 1:1000 (beware of the risks involved!). Pros & Cons of IronFX ProsMany assets to choose fromTight spreadsFast account creationLow feesBonus sharing programConsLarge inactivity fee
Top Crypto Brokers
Before investing in cryptocurrencies, let us help you find the right broker for you. In 2009, the world was introduced to Bitcoin – the first cryptocurrency (also known as virtual currency, or digital currency). Since that time, hundreds of other digital currencies have hit the market. Getting to Know Cryptocurrency Cryptocurrencies are decentralized, meaning that they are not controlled or regulated by any central authority or government. The majority of cryptocurrencies use blockchain technology, which is a public ledger of all transactions. Every transaction is an individual block in the blockchain, as are balances owned by holders of the cryptocurrency. As a public ledger, the blockchain can be seen by anyone at any time. Each account owner has a personal key to his account, enabling him to make transactions, and then those transactions become part of the public blockchain. The advantage of blockchain technology is that it is very difficult, if not impossible to hack (to date, nobody has succeeded), and the public accessibility of the blockchain helps insure against fraud and interference by third parties. A second advantage is that the fees for online payments with virtual currencies tend to be lower than those of more traditional forms of online payment. Currently, hundreds of thousands of businesses worldwide accept digital currencies as payment for goods and services. How We Chose the Best Crypto Brokers When choosing the right social trading broker, you must understand its advantages and disadvantages. However, certain features and aspects are vital for every brokerage, and we made sure they met those standards before including them on our list. Here is what we looked at when making our decision: Safety and securityInterface design and user experienceAccess to analytics and real-time data Reliability and responsiveness of the platformAvailability of trading optionsQuality of customer service Below are the top Crypto brokers according to the research and reviews conducted by the Broker Reviews experts. Broker Reviews' Picks for the Top Cryptocurrency Brokers Best overall Fortrade is an online trading platform that offers Contract For Difference (CFD) trading services. The website provides access to more than 300 financial assets, which includes: ForexIndicesStocksCommoditiesCryptocurrency Fortrade also offers Bitcoin CFDs with low commissions, high leverage power, around-the-clock trading opportunities, and short trading. Fortrade is authorized and regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and the Ontario Securities Commission (OSC). Overall, the platform has no commission charges and provides users access to current trading data and graphs, one-click execution, deposit and withdrawal of funds, and easy management and execution of investments. Registered users can utilize several trading tools available on Fortrade, such as morning and evening analysis, weekly analysis, and microanalysis. There are also several trading calculators, including a currency converter tool, margin percentage calculator, swap rates calculator, and pit value calculator. The platform runs 24/7, and users can trade from anywhere they want while monitoring global markets and capitalizing on price movements at the right time. Plus, clients are only required a $200 deposit is when creating an account. In the end, most services are commission-free, and users have access to global financial products, swift market access, and fast order execution. Fortrade Pros and Cons ProsDemo accountSupports multiple languagesRegulated by several organizationsCompetitive trading conditions24/5 customer supportConsNo U.S. clientsInactivity fee Most variety AvaTrade is an online trading platform with an extensive selection of trading options. Users can trade more than 100 assets, including forex, CFDs, stocks, exchange-traded funds (ETFs), bonds, commodities, and cryptocurrency. Indeed, AvaTrade offers a selection of leading cryptocurrencies, including the premier digital token: Bitcoin. All accounts with AvaTrade are managed by Friedberg Direct, a division of Friedberg Mercantile Group Ltd. A major strength of AvaTrade is its innovative and cutting-edge platform technology that offers several trading instruments, immediate execution, and around-the-clock technical support. These include MetaTrader 4, the world’s most popular trading platform; MetaTrader 5, designed for serious traders; and AvaOptions, an innovative options platform. Moreover, users have access to a wide range of educational tools, technical and fundamental analysis, and important market updates to help develop powerful trading strategies. By utilizing these resources, investors can become more confident traders. This can be of tremendous value since users are free to trade with no short-selling, scalping, and low spreads. With AvaTrade, users can trade with confidence and benefit from powerful technology. AvaTrade maintains 24/5 trading opportunities, zero commission, competitive spreads local regulation, and more than 170 instruments. AvaTrade Pros & Cons ProsFree client accountEasy openingLots of tools and resourcesMT4 and MT5 trading platformsConsInactivity feeLimited product offeringsUncompetitive forex fees