What is Forex Broker(called also Brokerage) ?
A Forex Broker(also called Brokerage) is a financial institution that allows the traders through metatrader platforms to buy or sell foreign currencies. Traders use forex brokers 24 hours in order to exchange currencies.
Brokerages serve the investors who trade public stocks and other securities, usually through the firm's agent stockbrokers.
Why do you need Forex Broker(a currency trading broker, also known as a retail forex broker) ?
Forex Broker(a currency trading broker, also known as a retail forex broker) is a very important entity that connects forex traders with the forex market. Before the existence of the forex broker, traders wanted to trade in foreign currency needed to have a large amount of money and a special relationship with the banks to buy currencies. Thanks to the forex brokers traders can easily open an account and start trading with low amount of money comparing the old times.
| Broker | Spread | Min deposit | Leverage | Regulation | |
|---|---|---|---|---|---|
| Broker | Spread | Min deposit | Leverage | Regulation | |
| FxOpen | floating | $ 1.00 | up to 1:500 | ASIC, FCA, FC | Visit |
| Pepperstone | Institutional Grade STP | $ 200.00 | 1:500 | ASIC, FCA | Visit |
| Xm Xm | As Low as 0 Pips | $ 5.00 | 1:500 | CySEC, FCA, MiFID, ASIC, BaFin, CNMV, MNB, CONSOB, ACP, FIN, KNF, AFM, FI | Visit |
| Alpari | As Low as 0 Pips | $ 1.00 | Floating: 1:1000 | IFSC/60/301/TS/17, FSASVG - 20389 IBC 2012, CySEC, FCA | Visit |
| Fx Choice | 0 - 0.5 pips | $ 100.00 | 1:200 | IFSC (Licence number: IFSC/60/191/TS/17) | Visit |
| IC Markets | 0.0pip spreads | $ 200.00 | 1:500 | ASIC with AFSL number 335692 | Visit |