The top reliable, regulated and licensed ECN ( electronic communications network ) forex brokers to trade currency online with lowest spreads, commissions and affordable minimum deposits. ECN brokers will connect you directly with the liquidity providers giving you the best trading environment for Forex trading.
General Risk Warning: The financial products offered by the above companies carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
Useful Forex Educational Articles
Frequently Asked Questions ( FAQ )
What is Forex ?
Forex is trading currency globally. Forex market is the world’s largest and most liquid market.
How to trade Forex ?
In Forex trading you have to analyze and predict the price movement. So in order to trade forex online, you need to register and open a trading account with a Forex broker.
Is Forex Trading a high risk investment ?
Yes. Any kind of investment carries a higher level of risk unlike 9 – 5 jobs. Higher the risk means higher the rewards as well. So Forex trading carries a very high level of risk where you may even loose all the money in the trading account. Therefore invest only what you can take a risk only ! You can refer Forex money management tutorial to learn about potential methods to minimize risk and maximize rewards.
What are the days and time available to trade Forex ?
You can trade Forex from Monday to Friday. Generally below are the available trading sessions based on GMT time zones.
New York Trading Session 8:00 am to 5:00 pm EST (EDT)
Tokyo Trading Session 7:00 pm to 4:00 am EST (EDT)
Sydney Trading Session 5:00 pm to 2:00 am EST (EDT)
London Trading Session 3:00 am to 12:00 noon EST (EDT)
So basically based on above trading sessions, forex market is available 24 hours during weekdays.
What Are the types of Forex Brokers ?
In general you will find Dealing Desk ( Market Makers ) and Non Dealing Desk type Forex brokers as the two main types. Non Dealing Desk brokers can be further categorized as Straight Through Processing ( STP ) Broker or an Electronic Communications Network ( ECN ) Broker. Well the type of broker that you are going to trade with does not matter as long as the broker is a regulated and licensed forex broker.
What are the type of trading applications ?
Forex brokers will offer Meta Trader 4 ( MT4 ) or Meta trader 5 ( MT5 ) or cTrader or propitiatory trading platform that can be used as a browser based, desktop or laptop based application. Also Android or iOS based trading platform too will be offered by every broker.
What are the payment methods supported by Forex Brokers ?
All major forex brokers will support Skrill, Neteller, Master / Visa cards for both deposits and withdrawals.
What are the common documents requested by Forex brokers for Verification ?
In General you will need to submit a copy of your identity verification document such as Passport, Driving License or National Identity card in English or any language supported by the forex broker ( Please note that IQ Option broker accepts only Passport or NIC ). Then you need to submit a copy of a utility bill received by you within the last 3 months or a certified bank statement.