Learn about the top reliable, regulated and licensed forex brokers to trade currency online using Meta Trader 4 trading application with best affordable minimum deposits.
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 Articles for Forex Beginners !
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.