And without a centralized marketplace, forex activity buzzes practically without cease, with traders waking up and doing business everywhere, in every time zone. How We Chose the Best Forex Trading Brokers Enduring features We gathered a list of 65 forex trading brokers and narrowed it down to the best five by analyzing research features, customizability options, and trading platforms. Flexible and interactive tech All good forex brokers update account information in real time, display balances, and provide history reports and statements. But exceptional brokers offer trading technology that boasts a broader spectrum of features, from alerts to automated trading, cooperatively helping you execute strategic trades. Specifically, we prioritized forex brokers with trading tech that offers customizable interfaces and interactive charts.
Mobile capabilities We also wanted technology that’s not desktop-bound. As mobile trading continues to grow, the best brokerages make high-performance, on-the-go research and trading tools as powerful as traditional platforms. We prioritized brokers staying ahead of the curve with dedicated, well-functioning apps that are compatible with a variety of devices. Resources Forex brokers provide clients with resources to understand market activity and make fast, informed choices. Exceptional brokers also include access to historical data, so traders can back-test strategies before allocating real money. Major Currency Pairs Major Currency — currencies from the world’s most developed economies including Europe, Japan, Canada, and Australia — represent the most heavily traded and liquid currency markets for any forex trader.
A major currency pair is created when one of these currencies is traded against the U. Cross Currency Pairs Cross Currency Pairs signifies secondary currencies traded against each other and not against the U. Most reputable brokers offer this category of trades, and it’s especially important for a forex trading account denominated in a currency other than the U. A full-service brokerage for savvy investors — trade forex alongside other investment products all from the same account. Why we chose it High number of currency pairs Thinkorswim is the best option for U.