Today I’m going to round up my favorite forex brokers of 2018. I’ve used all of these platforms at some point and they all offer something a little different. Let me know in the comments what your top platforms are.
My number #1 Pick – eToro
eToro offers something for everyone. For professional traders they have a well designed web trading platform with good charting tools. And the opportunity to earn a second income by sharing your trades. And for new traders, you can help reduce your trading risk by copying the trades of more experienced traders.
eToro offers one of the largest selection of markets to trade in. They all the major currency pairs as well as many of the minors and if you trade stocks, they have a huge selection of stock cfds from markets all over the world. eToro is also leading the charge into new markets by offering cryptocurrency trading.
What I like:
- best designed web trader platform
- huge selection of markets to trade in
- trade actual cryptocurrencies not just CFDs
- copy trading
Honorable Mention – Plus500
Plus500 is a super popular broker. It’s my honorable mention due to the large number of markets you can trade in. They offer forex, stocks, commodities, indices and cryptocurrencies. The web trader platform isn’t as well designed as eToro’s, but it’s been steadily upgraded over the past couple of years and is very usable.
One thing to watch out for on Plus500 is the leverage which can’t be changed like you can on eToro.
Best Place to Trade with Bitcoin – Whaleclub
Whether you like it or not, Bitcoin is here to stay. If you’ve got a stash of Bitcoin and are looking to make it work for you, then trading with it is a good option.
Whaleclub is a forex broker that only accepts digital currency. You can’t deposit or trade with fiat. Being 100% digital currency based has some advantages. The first is customers don’t need to go through any long verification processes. In fact you can sign up and start trading within minutes. Those who value privacy and anonymity will like Whaleclub.
Whaleclub has a nicely designed web trading platform that is easy to use and I like the included chat box feature which gives the broker a community feel.
The spread and fees on Whaleclub can be a bit steep. It doesn’t make trading unprofitable, but it’s something to take into consideration.
Honorable Mention – Evolve Markets
I’m not a huge fan of the MT4 trading platform as it just feels old fashioned. That’s why I gave my top pick to whaleclub. However if you do use MT4, then Evolve.Markets is a good broker. Like whaleclub they only accept digital currency. Once you’ve made a deposit with Bitcoin, you trade just like you would on any other broker. You just need to get your head around “bits” which is a smaller unit of bitcoin.
Evolve.markets offers a very professional product with low latency trading and low latency execution. If you’ve tried whaleclub and looking to step up, then try Evolve.
Best MT4 Forex Broker – XM
While web trading platforms suit most traders, some pros still prefer using desktop platforms. The market leader is Metatrader. In my opinion the top metatrader broker is XM. XM is focused primarily on forex although they do offer some stock cfd trading. With XM you’ll get super tight spreads and commission free trading. They have pro level trading conditions as well with zero rejections and zero re-quotes.
What forex broker are you using? Let me know in the comments.