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Good Choice For Experienced Traders!
Trusted Forex Broker Reviews
Not even legends in the calibre of a Larry Williams or a Martin Schwartz will have much luck in currency trading if the broker is unwilling to cooperate – it has an overwhelming role in determining what type of experience you will have as a forex trader. The lack of clear rules and precedents creates great opportunities, but also huge risks for the unprepared.
But aren’t there always two sides to a story? To help our visitors avoid the dark side of forex, we have carefully screened the best offers in the online brokerage business, and prepared a selection of some of the most reputable and efficient brokers for your exclusive benefit. If you have any plans to explore the exciting world of currency trading, we are sure that you will find our list an invaluable guide in the crowded and sometimes shady world of the forex brokers. We recommend reading our listed brokers’ review pages for user reviews, e.g. OctaFX or FXTM review page.
Safest Forex Brokers 2020
*Broker offers variable spreads which are subject to fluctuating market conditions. Spreads tend to be tight during times of deep liquidity but can also widen significantly during times of low liquidity.
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Finding the Best Forex Broker – FAQ
Finding the best forex broker for your needs takes some research. Hundreds of online brokerage firms now compete for your account, so plenty exist to choose from. Check out our recommended top list above, or read our FAQ below with excellent points to consider before choosing your broker, or see this extensive five step guide on how to choose a forex broker.
Finding the best forex broker that has a fast execution capability, a reliable trading platform and which can be trusted with your account deposit might be the first things you will want to assure yourself of. Other sweeteners can include account opening bonuses and other features like mobile trading and SMS market alerts.
Basically, you want a forex broker you can trust to handle your money and your trades so that you can get on with the business of trading forex without worries. Anyway, to make the process of finding a broker simpler, the list above covers most of the key comparison points between forex brokers so that you can be better prepared for a successful search.
In the end of this page you will find many more brokers that did not make the top list, you can still read our reviews of them and give your comments on them or share your experience from them.
But first we will go through some of the criteria and features you should look for when searching for the best forex broker for you.
Most reputable online forex brokers take the step of submitting to regulation by one of the main financial regulatory agencies operating in their home country. Sometimes, they will even be regulated by more than one agency. Such regulation provides you with the security of knowing the broker’s operations are being overseen by an independent authority with the goal of keeping the business honest.
Is there a benefit to where a broker is located?
Location can make a big difference, especially if the regulatory regime in the country is top of the line. The most advantageous location has to be reserved for UK brokers, since London is the center of the foreign exchange business.
Perfect For Beginners!
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Good Choice For Experienced Traders!
Forex Trading in the UK
Early in the last century, nearly 50% of the world’s foreign exchange was conducted using the Pound Sterling. Today, daily forex trading turnover in the London market represents 41% of the world, more than double that of the United States at 19%. If you choose a reputable UK broker, then you can be assured that the firm can draw upon a broad pool of experienced and professional staff in the UK.
From a regulatory perspective, UK forex brokers must also comply with one of the strictest regulatory bodies around, the Financial Conduct Authority (FCA). Once again, the pool of UK staff will be very aware of best business practices and related compliance issues, another reason to choose a UK broker, if at all possible. One must, however, be due diligent when choosing a broker that claims to have offices in London, since the marketing aspect of this location has caused many overseas brokers to set up a “shell” presence in the UK to gain your trust, but without the benefits listed above. If you prefer a UK broker, then make sure that they are headquartered in London and have a significant presence there.
Forex Trading in Australia
The Australian Forex/CFD/Cryptocurrency landscape is an intricate one, where at least three different types of brokerages peddle their services. There are unlicensed, unregulated brokerages with a global reach, whose services may indeed be accessible to Australian traders too. Then, there are financial service providers who are not based in Australia, but who are licensed by ASIC to peddle their products there. Finally, there are Australian born-and-bred operations, firmly under the authority of ASIC.
If you are looking for a forex broker in Australia or that offers services for Australians then make sure to go here.
When you either enter or store vital personal information online, it can be subject to falling into unfriendly hands that may use it for their own personal gain. Accordingly, a top priority when choosing a broker is that they encrypt all data entered into online forms using industry standard SSL-encryption or better.
Another key issue involves the safe storage of data so that it will not be lost in case of disaster. Many online forex brokers use duplicate data farms with high security to assure the safety of your account information.
Many day trading strategies become unsuccessful over the long term if your account does not have access to competitive dealing spreads. The spread is simply the difference between the bid price and the offer price for a particular currency pair and should be no greater than five pips in the majors and major crosses, with wider spreads often seen in the minor crosses and exotic currencies.
Commissions and Fees
Sometimes brokers are not content just to have you dealing on their spreads. In this case, they might charge a commission or fee for each transaction. Sometimes these are calculated on a per transaction basis or on a volume dealt basis. Additional fees might be involves in making withdrawals or deposits, so be sure to check that information to minimize your transaction costs.
Most forex brokers handle the basic market, stop and limit order types. Nevertheless, some brokers also offer support for OCO (one-cancels-the-other) and trailing stops. If either of these more specialized order types would be suitable for your trading plan, then be sure that your chosen broker supports them and make sure that you fully understand the limitiation of these different order types.
Since more currency pairs often means more opportunities to profit, you will want to make sure that your forex brokers offers all of the pairs you might be interested in trading. Some traders also like to have access to precious metals like Gold and Silver, in addition to oil, especially if they will be trading the commodity currencies like AUD and CAD whose exchange rates can depend on commodity price fluctuations.
Unless you are just interested in opening up a demo or practice account with the forex broker, they will usually require a minimum deposit to be made for you to get started trading forex. Often, the more money you place on deposit, the more features you have access to or the tighter your dealing spreads become. Make sure that you research the broker thoroughly before sending a deposit.
Account types vary considerably between brokers, but most offer demo accounts for practice trading, mini accounts for newer traders with a low minimum initial deposit, standard accounts for more experienced traders with a moderate deposit, and finally VIP accounts for larger initial deposits. Here is a list of forex brokers that offers demo accounts.
Also, the features offered with each account type vary quite a bit among the various forex brokers, so be sure to see which reputable broker will offer you the best deal for the initial deposit you have available to you.
Leverage refers to how much of a position you can control with a certain amount of funds allocated to it. Forex brokers currently offer leverage rates of as high as 500 to 1. What this means is that you can control a $50,000 trading position with just $100 allocated from your portfolio. Note that in the U.S. the maximum leverage is 50:1 for majors and 20:1 for minors.
Naturally, amplifying your risk by using leverage can result in larger gains, as well as larger losses, so be sure to use leverage wisely and avoid trading beyond your means.
Even though forex transactions are exchanges and not purchases of an asset like a stock or commodity, when the exchange rate moves, it creates credit risk for the counterparty showing a gain on the transaction. As a result, most forex brokers require that their clients place a certain amount of funds on deposit to cover such potential losses. This is known as the broker’s margin requirement.
Since margin requirements vary among brokers, you will want to make sure that the broker you choose has guidelines you can live with. Also, some brokers automatically close out trading positions when the amount of margin in your account is exceeded by trading losses, or according to other criteria, so be sure to understand such the implications of such policies for your trading business.
Most of the better forex brokers offer their own proprietary trading platforms for you to use to execute forex transactions with and to keep track of the market. These usually either take the form of web-based platforms that use access via your Internet browser or client-side platforms that you download to, install and run on your personal computer.
In addition, some brokers support independent trading platforms like the popular MetaTrader 4 platform that can be obtained free of charge and which many commercial forex trading robots are designed for.
Some forex traders require the convenience of trading and keeping in touch with the forex market via their mobile phone or other mobile device. Many brokers provide such services, so if this is important to you, check out what each broker offers in this regard and whether their software will work with your device.
Forex traders increasingly wish to automate their trading plans or algorithms to free up their time for other endeavors. They often do this by using a programming language to write down their decision process in an algorithmic format that can then automatically be executed by forex trading platforms that support this capability.
If you think you might want to automate your trading plan, check to see with brokers you are considering to see if they support this type of trading and how they do so.
ECN Brokers are brokers who use an Electronic Communications Network to provide price quotations and trading opportunities to their clients. The best way to picture an ECN is as an Exchange. Through an ECN, the broker puts various market participants into touch, directly. What that means is that it matches up trades so a seller will always find a buyer and vice-versa.
CFDs – Contracts for Differences
These days, CFDs are all the rage as far as online trading is concerned. These Contracts for Differences offer traders (and brokers) several advantages, which make the setup a very attractive one indeed.
A CFD is in essence a futures contract arrangement, between a broker (the CFD provider) and a trader (the client), the object of which is the difference between the current value of a traded asset (which can be just about anything, given the impressive market coverage of this financial derivative) and its value at the end of the contract. Find more information about CFD brokers here.
Many brokers offers SMS or other types of market alerts to their customers. If you think this might be important to your trading business, look for this feature.
Those new to forex trading will want to have better access to both dealing support and technical support. See what services each broker under consideration provides and whether it will suffice for your purposes.
Newer traders often require educational materials about the forex market and trading in general to get started trading forex on the right foot. If this is important to you, research what the brokers you are considering have to offer in this regard.
Also, many brokers provide sophisticated news feeds, like Reuters for example, as well as proprietary market commentary and other timely information.
Dealing Desk Access
Some traders like to speak to a personal dealer or advisor at the broker in order to obtain inside market information and advice. Others like to be able to make transactions over the telephone in a pinch. If either of these options makes sense for you, inquire with your potential brokers whether dealing desk access will be available to someone with your anticipated initial deposit.
Managed Forex Accounts
There are three types of managed forex accounts, Individual, Pooled and PAMM accounts. Here is a list of recommended managed forex accounts that offers this kind of forex accounts.
Forexbreakoutbot.com Review: Is Forex breakout bot Scam or Good? Read!
FX Pro is without a doubt a big Forex broker that investes a lot of money in marketing and that has a solid presence in the Forex community. They even sponsor a Formula 1 team. FX Pro runs big and aggressive promotions and that’s one of the reasons why they have been growing so fast the last couple of years. But that doesn’t mean that FX Pro is reliable. There are a lot of traders that are not happy with the FX Pro platform and their service.
The biggest and most serious complaint about FX Pro is that they make it hard for you to withdraw your money. You really have to take this seriously because if a broker keeps money in his pockets and won’t let traders withdraw it looks like a scam. Of course, not every trader has problems with withdrawals but not just a few either. If somebody tells you that they manipulate charts then this could be a personal impression that doesn’t have to be true. But withdrawal issues are another story.
But how does FX Pro react when you want to withdraw your earnings? First of all they accept all deposits and don’t make any bigger security checks. But when it comes to withdrawals they want to know everything and receive documents that don’t even exist. For example if you made a deposit 2 years ago and you don’t use this method any more or moved in the meantime then you will have issues with your withdraw. And it’s highly likely they don’t accpet it or you have to fight for your money at least.
However, you can’t prove any scam by FX Pro but we don’t recommend them. Some practices don’t look reliable and just because they invest a lot in marketing doesn’t make them more reliable.
Experiences with FX Pro
Let’s see what other traders think about FX Pro.
I have no doubt that their demo account is different than real money trading. There’s something fishy here. But I have no complaints and my withdrawals have been accepted so far.
I had problems with my credit card deposit. I deposited money but it never reached my account. I had to send lots of documents but without any result. Still can’t find the money in my account and that concerns me.
Great demo account and good support. Can’t say anything about withdrawals so far.
I made some different trades simultaneously from different PCs and there have been major differences. Something is wrong here.
I could not close a position that was very profitable. The trade went in the wrong direction after that and I lost a lot of money. Stay away from this broker.
I experienced major issues with my withdrawal. They just did not accept the documents I sent. They accepted my deposit without thinking about it but didn’t want me to withdraw. Please stay away from them!
I tried to cashout my earnings twice but the money never reached my bank account. They wanted document after document until they found anything wrong (what actually is no biggie) to refuse my withdraw. I gave up.
#1: www.plus500.com – Millions of traders use this reliable and simple platform. Get your free demo account. Your capital is at risk.
#2: www.avatrade.com – Reliable FX Broker with EU-offices and very high safety of funds.
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46 opinions and experiences
I think fxpro receives most part of bad reviews from the amateur traders. Serious advanced traders choose fxpro because this broker is licensed by the most rigorous regulatory authorities in the world and they withdraw profit extremely smooth.
This is a very good broker. Stop complaining. Maybe you never worked with real scams. The services on the quite high level and they often try to develop it. Client support always tries to help and there are no problems with deposits and withdrawals.
FxPro has recently terminated all my active demo accounts and my access to my direct account without previous notice. My account was verified.They said that clients with live accounts had their accounts moved to the new system. I lost all the history of my active demo accounts trading. I do not trust them anymore.
Most people who gave negative review on fxpro, either you are a bad trader, or just BAD TRADER.
Im not from fxpro side, im just a trader who has been with them for a while and im fully satisfied with them.
I would be more than happy to prove im not working with fxpro
This is my mt4 acc
And investor pass tambangea888
Feel free to check the deposit and withdrawals i made. Dont judge a broker easily by saying they are scam if you dont know how to trade properly.
can you contact me then, because i just paid them 250euro and my account has not opened and i keep emailing the agent who i was on the phone to, he is not answering. I even called the HO number and no one answers. I believed I have been scammed.
i am trading fxpro more than 2 years. i lost 40.000 usd. all my trades stop out. after stop out it moves other side. i am sure now they are market makers and they are opposite of their customers.
you can get it back you know?
How can we get back the money?
I don’t know why some people say that they have problems with fxpro. I opened my account more than 2 years ago and I’m still very satisfied with this broker. The broker has never tricked me.
This broker offers very competitive spreads and fees in comparison with other top brokers and there are many account funding options to choose from. Also there is a great range of accounts and trading instruments.
Their educational block is the best that I have seen among brokers in the industry. They provide free and with simple registration demo accounts, fantastic educational library and webinars.
Overall I’m happy with Fxpro. I’ve traded before with a few other companies and had issues with the withdrawals of my funds. This broker is reliable and responsible to its clients. Now I don’t worry about my money.
FXPro is market maker and if they are not then the LP is. IF a LP is a thief market maker and FXpro is watching how the money get stealed from their own costumers and they are happy with this business model. That makes them an accomplish of stealing. You can not say I saw the LP stealing from my costumer.. I provided it for them but I am not guilty of stealing. I am true ecn honestely.. yeah right.That makes them as guilty as the rest of the heartless MM scammers. I enter a trade short breakout nrent oil…goes against me.. quick change it to long ( this was a test by the way to make sure they are MM) and yesss goes against me. spreads jumping. any trade you do it goes against you.. well 7 out of 10. you gain 100 they manipulate 250 against you. I think it is the best way to avoid this kind of company’s and never become a costumer of those anti social people and let them go bankrupt fast. Bankers are the devils friend and those kind of MM helping brokers are their slaves. Because brokers screw their costumers so they will not stay long because of their behavior. If they did a different business model they could actually make money themselves and long term costumers. But for that they are not intelligent enough Costumer are their confict of interest. They hate you but need you to steal your money. Offices in Russia and Cyprus ? Really ?? how trustworthy is that ? We both know what kind of country’s that is. they are on the news many times for fraud. I think they have an office in London just for the looks. regulation, documentation, .. all bullshit manipulation. All of the many MM who deserves to be hunted down to bankrupty and every client they ripped of may kick them until they don’t move anymore.. any MM broker.. my 5 cents thought. They screw you as policy.. payback time. the only what is fxpro, trade like a pro is that those mind sick people there, screw you and steal your money like a pro
I hope there will be found a true ECN broker for normal people with small pocket with only good comments and they get all the clients there is away from the MM and let the MM scam burn in hell forever.. Still looking for true ECN with hones LP. will be difficult I guess. Honest company’s are hard to find. Time for a cleaning inside this business.. So all the honest company’s if you want millions of clients.. show yourself to be honest and you will have millions of clients. And if every clients pay 10 euro a day on commission you will get 10 million a day. but I think it is more commission. So here a good business model I think.
Last comment.. Having an ad about Plus 500 is the same kind of scam brokers like fxpro they trade against you each candlestick. They are one of the worst.
In general, the platform is not bad: interface, analytics, range of tools – all at the highest level. At first I was confused by the long verification. But then I realized that this was done for safety. For the sake of this, you can endure this procedure. I trade both with pc, and with the phone. Withdraw on paypal – the process is smooth.
I’m trading forex with FxPro since 2020 and I like this broker because of their reliability, professional support, free educational materials and training webinars. I have no complaints to execution. The deposits and withdrawals are fast enough. And I enjoy the software they provide for algorithmic trading.
Any Forex broker review and comparison guide that reccommends Plus 500 as number 1 is obviously a huge joke.
Truly safe broker with their own innovate platform. I’ve chosen FxPro as my primary broker a year ago and never regret about this choice. Also I want to add that they provide quite good and professional service and quick deposit/withdrawal process.
I have used FX Pro for three years & no one can ever tell me they are not thieves.
They are the biggest scammers out there.
I have actually been researching their scam to see exactly how they do it & some people who have posted here about their scams are all 100% right.
DO NOT BELIEVE THE BS COMMENTS WHICH ARE DEFENDING FX PRO HERE.
THEY ARE WRITTEN BY FX PRO STAFF.
There is no trader who goes around defending their broker with so much determination as you see from the fake commentators here.
Ask yourself. What does a trader have to lose if his broker is attacked online?
If he is making money, what other traders say about his broker should not bother him.
Remember that FX Pro is a big scammer with a big wallet.
They have people specifically employed to go around sites like this one to defend them.
FX Pro is a dangerous broker with a big marketing budget. You have been warned.
Oh damn. The same thing why are you trying to persuade us so badly. If you are just a trader, what other traders say about his broker should not bother you.
Maybe it’s you specially employed to go around sites like this one to insult FxPro?
Because he wants to hurt just you hurted him
still chasing after them to give me back my money (5400$!!) they was good until 2020 since than they are very high risk bankrupt broker
Oh really? Now we have 2020. They are still working. Me and some of my trader friends have no problems with this broker since start. Where is bankruptcy ? Far away.
I have same trouble also – send them withdrawal requests and they doesn’t answer me after three months. Deposited 32,000 $, and it seems lost till today. I don’t know what to do in this situation, but now trying to contact advocate in this case. I heard that there a lawyers from central Europe and they help people to make withdrawals of their funds in that kind of situations
Good broker with clear reputation. Everything works great. Trading platforms, orders and executions, network connection, money deposits and withdrawals – all go smooth and stable. Spreads are low , slippages are rare. Never had any withdrawal problems. So it’s obviously all you need to trade successfully. Strongly recommended to smart, both experienced and novice traders.
The funny thing is you have not told us a period or type of account which you’re basing your ratings from.
I have used FX Pro for three years extensively on both live & demo accounts specifically to identify their fraudulent operation.
Overwhelming evidence points to a major professional scam in operation aided by a number of UK legal loop holes which Im determined to have changed.
FX Pro also uses a huge marketing budget to perpetuate their scam (a lot of lies to unsuspecting new traders & other traders who fall for their big lie).
The reality is opposite to everything you listed in your comment apart from deposits because I have personally experienced problems with each & every aspect you mentioned.
Of course, there in no issues with deposits & not every trader is going to experience the same thing.
However, the evidence is there starting from their contract where, most importantly, they admit that they are not a real broker.
They also admit that all trades are executed & terminated at FX Pro.
They also admit that no trade is ever taken to the open exchange.
They are counterparts & principle to all CFD trades meaning they are always trading against all their retail clients.
They also admit they only get prices than actual liquidity from liquidity providers.
This clearly means they use their own money in all trades with their clients.
When a trader makes a profit, they lose & when traders lose, they collect all that money as profit. Why would you expect them to allow you to make profits?
It is in their best interest for their clients to lose & they have many clauses in their contract which specifically say they will take “action if a trade is not in their best interest”.
What do you think that means??
They have basically given themselves the legal right to take your money if you happen to be winning more than they are & to silently take your money when you simply cant trade.
However, most of their scam is legal due to a number of legal loopholes but there is one UK law they are breaking & this is where we are going to get them.
They are committing fraud because they are deliberately misrepresenting themselves to their clients as an impartial broker (where they deliberately pass themselves off as a real impartial broker who does not “interfere”) when in reality, all their client’s losses are profits for them & they deliberately sabotage their client’s trades for this reason.
If you’re defending them, they have either not hit you yet or you are on their payroll.
FxPro is a market maker with typical trading conditions, but solid license, that will make you trading more secure, but not easier. A lot of problems with platform, big slippages, poor customer support, all these makes trading crazy. I advise to choose not only regulated brokers, but also ECN, without conflict of interests. If you don’t know what companies to choose, add me in skype, vovkfx, i will help you to solve this problem.
Im sorry what? Problems with platforms? Poor support? Are you sure you wrote your comment about FxPro? Not about any other broker?
Platforms stability and variety, perfect costumer service are one of the main advantages of FXPro. So please stop lying.
Weird that you Herman are so offended by previous comment!
Last year I traded on the FxPro Ctrader. Quite comfortable and modern platform, I satisfied. The UI is convenient for me, there are a lot of tools, good analytics and no requotes. Orders opens and closes immediately. As for me, Fxpro provides quite honest and qualified service.
Big and reliable broker, but crazy slippages and slow execution make trading unreal. Yes, it’s called ECN, but still conditions are awful. CS is also very slow, so you will be alone. If you want to trade with solid broker and get good trading conditions, I can help. Just add me on skype – vovkfx.
Well. I strongly disagree with you. In my case executions are instant. Didn’t notice any “crazy” slippages. Only regular ones. Its impossible to trade on real market without them at all. So you are just unlucky and have technical issues from youк side or this is fake review.
I registered FxPro account in 2020 and still trade with them. I didn’t have any problems with customer service, execution or withdrawals. I think many traders try to blame brokers for their own mistakes. It will be better for them to read rules carefully and learn more about volatility and buy/sell stops and limits.
Totally agreed. My experience shows me its impossible to reach success in this business without fails at start, And its up to you how you manage it. You can get it right and fix your possible mistakes in future. Or you can blame everyone around you. Especially your broker. I have only good stories with FxPro.
I like FxPro, because it is very universal broker. They provide a wide range of services and can offer something interesting for every trader. And there are no limits in trading styles. The platforms and customer support are very qualitative. And it is very convenient for mobile trading. I work with this broker and recommend it to my friends.
am new and i fear already……i will shift to another broker.
When I started on FX, I tried to trade with a few brokers, but after 3 years of experience, only FxPro is still in my list. Only this company never betrayed me, and I have never had problems with withdrawals.
Quite good and reliable broker. During my work with them I have black stripes as well as white stripes, but I have no any claims to FxPro. Working conditions are very good.
yes same here most of the time thay trade against you to the point of you might a well go and buy a scratch card. you got more chance of makeing money that way f know how there in business
FX Pro is definitely one of the most dangerous brokers to trade live with.
I have used the broker for two solid years & I noticed within a few days that something was not right with their platforms.
The biggest scam about this broker is their claim that they get liquidity from certain liquidity providers.
The reality is they only get prices from liquidity providers which they then feed into their platforms.
FX Pro then provides the liquidity which their unsuspecting clients trade with.
They are not connected in any way to any real market in any way shape or form.
Basically, FX Pro is a market maker & their retail contract although written to confuse the reader, states that you trade in a FX Pro market & there is actually no real market. They are the main counter party & principle to all your trades.
It means when you trade on FX Pro platforms, they are trading against you.
This is in their ‘colorfully’ worded contract -which they know most people dont actually read.
You need to read it word by word to basically decode what they mean.
Their entire scam is all there (possibly as a legal requirement) but which they try to hide with lots of confusing terminology.
Their contract also takes away ALL client’s legal rights by the way.
As one person has pointed out above, it is true that your trades will be manipulated so that you lose. I have seen all sorts of tricks they play & I would need a good amount of time & space to list & breakdown exactly how they scam their retail clients.
They have invested a lot into algorithms specifically for this purpose. Trading with them is just as good as playing chase with a computer.
Withdraws are also a big problem with this broker.
I initially did not have a problem with all the small withdrawals I requested & my money usually arrived in my account within three days until I started making bigger profits.
When I asked them, they would tell me all sorts of excuses for weeks.
I stopped trading with them & my money arrived weeks later.
I got the sense, this is just a way to frustrate profitable trades away.
They dont expect you to withdraw your money once you deposit it & if you start making more withdrawals, it means you’re not bringing them profits & you have to go.
As someone else pointed out in the above comments, their spread will stretch to either stop you out at a loss or stride your Take Profit line with the ask line & bid line on both sides of the TP. This way, the trade does not close because both ask & bid line need to cross the TP line.
It will remain striding the TP line with only the ask line moving with the price while the bid line remains behind striding the TP. Only if the volume is high enough will the bid line finally cross the TP to give you a profit.
You therefore can not place a trade & go away to find a profit waiting for you on your return. You have to sit there & watch every move otherwise you will hardly make any profit.
If you try to close a wining trade, the platform may freeze or show a dialogue window saying “Invalid”. You then have to close this dialogue window to try again & by that time, the price may have moved back into negative.
Also, if you try to hedge a trade, the rates will differ on each side to the point where every move the price makes in whichever direction will result in a small loss. If it keeps moving, you keep losing more. Whichever way the price goes results in a loss to your trade.
I suggest anyone who wants to trade with them to first read their contract word by word to make sure you actually understand what is clearly written to confuse the reader.
The only thing I can recommend about FX Pro is their demo accounts which do not expire & you can open as many as you want for as long as you want. BUT never ever trade live with them, you will lose all your money either in their phony markets or when you try to withdraw it.
Best Forex Robot Making Real Pips – March 2020
February 2020 was a huge month in forex trading. Piles of quality trades were just ripe for the taking. But don’t forget: March is typically one of the biggest trading months of the year. The last few days have had some of the best forex robot action we’ve seen in a while. But without a forex bot you’re missing out on some easy pips. Let’s look at the top three automated robots actually making money right now.
Best forex robot overall: Odin Forex Robot
Odin has quickly become the best forex ea of 2020. It’s the top choice for professionals right now due to its solid grid trading strategy and powerful features. It comes optimized for over 22 different currency pairs. Most of all its tight stop loss and take profit levels keep your account safe. As a result it found over $146,170 in forex trades during February.
The Odin Forex Robot plots price in real time to find the best entry and exit points automatically.
Odin’s equity curve has minimal drawdown thanks to its tight stops.
Using Odin is simple and straightforward. It runs inside the MetaTrader 4 forex terminal. Most forex brokers offer free demo accounts you can sign up for instantly. With MetaTrader 4 installed you simply drop Odin into place and attach it to a forex chart. After that everything is fully automatic. We highly recommend Odin to all forex traders regardless of skill level.
Biggest forex trades: Vader Forex Robot
Vader is a proven EA with years of live account experience. Advanced new features and a solid Fibonacci strategy make it a reliable choice for all users. It runs the brand new Gryphon Trading Engine 3 with over 30 new features, upgrades, and enhancements not available anywhere else. It also found over $128,240 in automated forex trades in February.
The Vader Forex Robot cuts your charts into pieces using daily fib levels.
Vader is a reliable performer with steady account gains and sound money management.
You can use Vader on demo or live forex accounts out of the box. It also comes with free updates for life. That means you never have to pay for future updates or setting changes. All of these features and its reliable performance make it one of the best fx robots currently available.
Best Strategy: The Reaper Forex Robot
The Reaper Forex Robot has been on a nine month winning streak. It found over $94,444 in pips in February. Visually it is gorgeous. Clean, solid lines make your charts simple to understand. Plus it’s fully automated and runs on its own.
Reaper has made the best forex EA list ten months in a row. Its reliable performance and ease of use are great.
Reaper is actively traded on over 1,300 live forex accounts daily.
Reaper also comes with full support from its developers. You’ll receive help every step of the way. Including custom settings, installation help, strategy guides, and troubleshooting. Simply contact us for anything you might need.
Safe trading with any forex account size
All three forex robots work with any account size. So you can trade mini, micro, or full size lots. Mini lots allow you to start with as little as $100. And demo accounts let you test and go live later on. These forex bots determine the safest lot size for your account balance. Over-trading your account is nearly impossible due to built in margin checks. And safe money management routines are directly inside the software.
Choosing a forex broker
These bots run inside the MetaTrader 4 forex terminal. It’s easily the most supported forex terminal in the world. Hundreds of brokers offer this platform for free to use with both demo and live accounts. Any broker that offers MetaTrader 4 will work well with these forex bots. Both 4 and 5 digit brokers are fully supported.
Any currency pair with a good spread is a good choice for Odin. So finding the best pairs to use is easy.
Choosing the best forex pairs
The best pair is typically the one with the lowest spread. Less spread means less pips you have to recover on each trade. Otherwise any pair will do. Gold and oil are supported too but typically have very high spreads. It’s best to start with 2 or three pairs and add more as you go along.
Finding the best forex robot for you
All of these expert advisors are solid choices for any trader who wants software that actually works. But if you’re looking for the best forex robot, choose Odin. If bigger trades are your thing stick with Vader. And for the best strategy go with Reaper. It’d be hard to go wrong whatever you decide.
Perfect For Beginners!
Free Trading Education!
Free Demo Account!
Good Choice For Experienced Traders!