Top Forex Trading Programs & Services
Top Forex Trading Programs & Services
| Rating: | Number of Tradable Assets/Instruments: | More than Binary Options Only?: | Mobile Trading Platform: | Analytical Support: | Educational Materials: | Leverage Amount Offered: | Tight Spreads: | Low Commissions/Costs: | Customer Support: | Read Review: | Visit Site: | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 |  | N/A |  | N/A | |  | N/A | N/A | | Email Only | Read Full Review | forextrendy.com |
 | | 120 | | | | | 500:1 | from 0 pips | | Live Chat, Email, Phone | Read Full Review | vantagefx.com |
 |  | 500+ | | | | | 30:1 | from .054% and up | | Live Chat, Email, Phone, Contact Form | Read Full Review | iqoption.com |
 | | 2,000+ | | | | | 30:1 | from .01% and up | | FAQs, Live Chat, Email | Read Full Review | plus500.com |
 | | 90+ | | | | | 3,000:1 | from 0 pips | | Live Chat, Email, Phone, Callbacks | Read Full Review | justforex.com |
If you are new (or even only a little inexperienced) to the exciting world of Forex and trading foreign exchange markets, then you are going to need some significant help to trade these global exchanges well. The Forex markets that hardly ever sleep trade in major international financial centers primarily based in London and Singapore and located all around the globe fully 6 days a week, for 24 hours per day (on five of them). To simply throw yourself into the deep end of the pool in foreign exchange trading and hope that you will manage to swim will likely end up with you sinking very fast. Statistics bear this hard truth out. Somewhere between 70 and 90 percent of Forex trading accounts around the world lose money, depending on the brokerage involved.
This does not mean that you should simply despair and immediately move on along to another market that you may perceive as easier and less complicated to trade. Fortunes and steady incomes alike are made in Forex trading all the time in this deepest and most liquid of international markets by far on the planet. The key is to find the right Forex trading program and service that all at once can offer you professional and quick trading execution, appropriate account structure, guidance, educational and analytical support, and more. But there are hundreds of financial companies out there offering Forex trading or Binary Options trading. So how do you know which ones to trust with your hard-earned investment and trading capital? More importantly, how can you decide which ones are best for those who are new to (or inexperienced with) foreign exchange trading?
We answer that question with the table above and in this list of important ranking criteria below. The best Forex trading programs and services offer some effective combination of the following attributes, products, and service categories to their account holding clients:
- High Numbers of Tradable Assets – It may come as a surprise to many, but no two Forex brokers offer the same numbers of tradable instruments. Obviously more choices are better when it comes to the numbers of assets you can trade with your foreign exchange account. You will also be interested in considering the list of actual assets they offer for trading as part of your due diligence for picking such a Forex company
- Binary Options Trading Only – Some accounts offer only Binary Options trading. This is considered to be less desirable than actual trading of the currency pairs and underlying assets for many professional traders. However if it is Binary Options that you prefer, you may be content with trading with a company that specializes in only these forms of options
- Mobile Trading Platform – With people on the go all the time, you need a service that includes mobile trading platforms. Better Forex trading services will often design their own fully functioning in-house proprietary mobile trading app, but those firms without the considerable developmental resources or the motivation to do so should still offer a highly capable third party developed mobile app
- Analytical Support – This includes a number of key features. Among them are interactive charts (with technical analysis), calendars of events, global news feeds, and sometimes trading recommendations on currency pairs. Some traders consider this to be as important as the functionality of the trading platform itself. Without good technical analysis and fundamental information on the Forex markets, you are effectively trading completely blind and will get blindsided by these fast moving markets
- Educational Materials – Good Forex services and brokers care about their clients’ success and ability to potentially trade profitably. This level of success in foreign exchange trading starts with solid financial and Forex markets education specifically. It could include videos, articles, blogs, demo accounts, and tutorials. This is actually in the best interest of these Forex trading firms to have customers who are successful and make money so that they continue trading (and generating income for the Forex brokerage) too. No matter what your level of experience is with trading these exciting foreign exchange markets, there is always something more to learn or brush up on by way of review
- Leverage Amount Offered – Leverage is a key in Forex trading and with these accounts. Many firms will now provide higher than the standard 500 to 1 leverage ratio anymore. Some services offer even 1,000 to 1 or as high as 3,000 to 1 leverage depending on the level and type of your account and the underlying assets or instruments you are trading. You should definitely understand the leverage you will control, as the upside is that it will potentially multiply profits on a winning trade while the downside is that it can equally rapidly multiply losses on a bad trade
- Tight Spreads – Forex firms make much of their money on the spreads that they charge their clients. The good news is that this has become an increasingly competitive area between the Forex firms in recent years. Now there are even trading services offering 0 pip spreads accounts and trading conditions to at least some of the member accounts
- Low Commissions – Many Forex companies no longer charge commissions or will assess very low commissions, depending on the level of account involved. Some will play around with the spreads difference verses commissions. In either case, these Forex firms still have to make money, and you can be sure that they will on either the spread side or alternatively with a commission (and in some cases with both spreads and commissions)
- Customer Support – This should be more than only phone and email support-based. Live chat is an almost essential feature for trading Forex and options anymore, and so a really good service will offer this live chat as a standard nowadays
Final Advice and Suggestions About Forex Picking Programs and Services
It is safe to say that not all of the Forex Picking programs and services reviewed here are created equal, even though they are all well-regarded and widely used. Forex Trendy for example is unique in the companies reviewed here as it is a program that generates trading recommendations and signals across a range of 32 different currency pairs using over 300 different charts it analyzes automatically. Yet for all of this power and performance, it does not allow you to trade the markets.
Vantage FX, Plus500, and JustForex allow for trading access to Forex markets, although Plus500 focuses more on Binary Options trading. IQ Option as its name indicates is only an options trading firm. They provide access to a large number of Binary Options instruments and assets but not to any actual spot currency pairs like US Dollars versus the euro.
Another important distinction between some of these companies pertains to which countries they service. Many of them will no longer provide access to American clients because of complications surrounding U.S. trading and assets disclosure requirements enforced by the IRS. Some of them are truly international operations with clients on all or nearly all inhabited continents.
The key is to find the Forex trading program and service that works best for your own unique circumstances. Be sure to do plenty of research so that you do not encounter any unpleasant surprises once you have gone through the trouble of verifying your identity and the time-consuming KYC “know your customer” rules and regulations enforced by the U.S., Great Britain, Australia, Switzerland, and the European Union countries.