Overview of companies providing brokerage services in the year 2021
Many billions of currencies are traded around the world 24 hours a day, 5 days a week, everyone knows that the forex market is the most popular market in the world. This is partly due to the fact that brokerage companies provide loan funds for trading.
If you have decided to trade on the currency markets you need to choose a brokerage company. Not all big brokers have Forex trading in their arsenal. The way you evaluate Forex brokers is quite different from the way you would select a broker for the stock market.
We have compiled a list of some of the companies that offer forex trading for you:
- TD Ameritrade
Overview of the most popular brokers on the FX market in the summer of 2021
This is a broad-based brokerage company where currency really takes one of the most important places, traders can use the thinkorswim trading terminal, there is an opportunity to use applications for mobile devices.
The broker’s commission structure is leveraged, which is available to clients at 1:50 on the most popular currency pairs, and 1:20 on the rest, which is the highest leverage available to clients in the United States of America. The number of currency pairs is staggering, represented by more than 70 positions. TD Ameritrade allows futures trades in the asset BTC, and must be approved before they can be traded.
Even looking at the name of this company, it is immediately clear what this broker specializes in, in addition trading in precious metals and futures is available. The company offers several attractive options for trading. Depending on the account, customers can choose to pay a commission based on Wednesdays or it will be a per-trade fee. Liquidity comes from world-renowned banks, the company does not make its own markups.
The number of currency pairs exceeds 80 positions, according to the polls, this broker occupies the first place in the United States of America by the number of assets. The maximum leverage offered by the company is 1:50.
The company is known in the financial environment for its low commissions on trades in stocks and options. However, forex trading significantly expands the client base of the company, which is primarily attractive to beginners. The company has about 80 currency pairs. Trading is also possible on the mobile version of the platform, which is easy enough to use, on which you can build charts. It is allowed to open a demo account with a balance of 50,000 virtual dollars . This will be useful for clients who are not particularly confident in their abilities or for experienced traders who want to try a new strategy. Forex trading is complex enough, so using a demo account would be a useful option for every client. The commission is charged as a spread fee.
This is a company whose specialty is trading in the currency pairs market, among the clients can be citizens of North America. Also, it is possible to open a demo account that will help a client without any experience. In addition to the platform version and application for mobile devices, the company cooperates with MetaTrader and provides access to the fourth version of the platform.
The spreads of the company does not exceed 0.8 pips and the spread of the most popular currency pair EUR/USD is 20% lower than those of competitors from the United States, at least according to the broker. Its own platforms allow to make the charts, the financial leverage, as for the majority of brokers from the United States 1: 50, the currency pairs are represented by eighty positions.
The company does not specialize only on currencies, but the approach itself is quite interesting and simple. The main specialization is trading pairs based on cryptocurrencies, in addition to Bitcoin, Dogecoin, Ltc, Eth are represented. one of the reasons why the company is quite popular among investors is the lack of commission for trading operations, this also applies to cryptocurrency and options.
What kind of attention, with a company for forex trading
It’s likely that many brokerage companies you’ve heard of, but only a few of them are involved in trading currency pairs. Because of this, this small niche is occupied by a company that specializes specifically in trading currency pairs.
There are two ways in which brokerage companies gain their income: spreads and commissions.
Financial leverage or leverage. Many traders are on the lookout for a company that offers the highest leverage. The level of this leverage depends not only on the broker, but also on the popularity of the currency, or its liquidity.
In general, only the most popular currency pairs based on the American dollar, British pound and euro are used in trading, but do not forget about currency pairs that include the New Zealand dollar, the Turkish lira, the Russian ruble, and others.
The less you pay to your broker, the more you earn. Always pay attention to the value of the spread, the wider the spread, the more income the broker will make and the less profit the trader will have.
For the client who wants to buy cryptocurrencies, it is worth looking at classic broad-based brokerage companies, such as TD Ameritrade or Robinhood .
Unfortunately, not all brokerage companies are willing to accept clients from the US, as most of them are registered in the British jurisdiction. This does not apply to TD Ameritrade and Robinhood.
Now there is a company on the brokerage market which is not regulated or licensed, it is worth paying attention to what regulator your broker is subjected to, because most of the fraudulent structures just include brokers without registration.
The broker is not difficult to believe, for this purpose it is enough to go to the CFTC website and enter the name of the broker in the search line. Thus, you will find out more information about the company’s registration, its history and information concerning the financial part. We advise you not to pay attention to companies that do not have proper registration, it is fraught with great risks for your finances and personal information.
Is there a difference between a dealing center and an agency broker?
You should not think that a broker is always on your side, first of all he acts in his own interest. There are different types of companies providing brokerage services, all of them have different interests in transactions.
Agent broker is a company that puts client’s interests on the first place, his main task is to find the best price for a transaction, there are also disadvantages, often it can turn into a conflict of interest between the company providing the service and the consumer. Usually, the client pays for the service to such a company.
As for a dealing center company, such a company is the owner and seller of this or that asset.
The dealing center carries out trading from its own funds, as a result, making a deal, which is profitable to the company. The client is offered a price either before the fall of quotations or at their rapid rise.
It is not always possible for a client to determine the company’s financial goals, and it is almost impossible to trace this by taking any transaction as an example.