How to choose a forex broker?

When selecting your forex broker, you should consider trading platforms and tools, the number of currency pairs offered, customer service and, of course, trading costs. But comparing costs is tricky in forex trading.

What is a retail forex broker?

Retail forex brokers are financial institutions that act as an intermediary between individual trader clients and the foreign exchange market. These FX platforms have an online presence in the form of an official website and they target smaller traders who wish to operate in currency trading on a margin basis.

Are forex brokers regulated?

Forex brokers and the FX trading marketplace are regulated by the CFTC, or Commodity Futures Trading Commission, and the NFA, or National Futures Association. This over-the-counter marketplace takes place on multiple international exchanges. Forex traders can buy, sell, exchange and speculate on the exchange rates between scores of currency pairs.

What is forex trading?

Forex (or FX) trading entails trading currencies, contract for differences ( CFDs), indexes, commodities, spread betting, cryptocurrencies, and more on the global foreign exchange market, the largest and most liquid asset market in the world. In the forex markets, currencies trade against each other as exchange rate pairs.