Withdrawal Options, forex brokers with same day withdrawal.

Forex brokers with same day withdrawal

XGLOBAL markets is a trading name of X GLOBAL markets ltd.

Huge forex bonuses

In compliance with AML (anti-money laundering) regulation withdrawals requested up to the amount deposited will always be sent back to clients using the same method that was used to deposit.

Withdrawal options

XGLOBAL markets enable clients to withdraw funds using the same methods that are available for deposit. During normal office hours we process withdrawals instantly and using NETELLER, skrill or credit/debit card your funds will be available immediately.

Available withdrawal methods

withdrawal method	account base currency	fees/commission	min. Withdrawal	processing time
debit & credit cards
	USD, EUR, GBP	free	no minimum amount	2-5 business days
	USD, EUR, GBP	free	no minimum amount	2-5 business days
bank wire transfer
	USD, EUR, GBP, NOK, CHF	full amount sent, bank fees shared.	100 USD	1-5 business days
E-wallets
	USD, EUR, GBP	free* (1 free withdrawal per month)	no minimum amount	24 hours
	EUR, GBP	free* (1 free withdrawal per month)	no minimum amount	24 hours
internal transfer
	USD, EUR, GBP, CHF, NOK	free	no minimum amount	24 hours

How to make a withdrawal

Login to the XGLOBAL markets client area

Once logged in click the withdrawal button

Select the withdrawal method that matches how you deposited

Enter the withdrawal amount and submit the form

Your withdrawal request will be processed within the business day

Important note: in compliance with european legislation in relation to the prevention of money laundering, XGLOBAL markets will not process any withdrawal request to accounts owned by third parties.

Withdrawal terms:

In compliance with AML (anti-money laundering) regulation withdrawals requested up to the amount deposited will always be sent back to clients using the same method that was used to deposit.

For withdrawals that exceed the amount originally deposited we will send funds up to the value that was deposited by the method that was used to deposit the funds. Then any profits will be sent back to clients by bank wire transfer.

Withdrawals of funds can only be sent back to accounts that are in the name of the client as is shown on their identification documents.

* in the case of bank wire withdrawals XGLOBAL markets will send the full amount withdrawn to the client and select to share the transaction fees charged by the processing bank (eurobank). These fees can be found at the eurobank commission and charges web page that is linked to in the above table. Clients should also be aware that if any intermediary banks are used to complete the transaction then additional deductions may also apply, which are out of XGLOBAL markets control.

In the event that our technical department identify or suspect a client uses strategies that break our terms of service then we have the right to pass on any deposit and/or withdrawal cost on to the client at the time of withdrawal. Strategies that break our terms of service include but are not limited to latency arbitrage, algorithmic scalping and/or high-frequency trading. Full information can be read in our terms of service.

* free withdrawal exception:

XGLOBAL will cover the cost of the first skrill or neteller withdrawal placed every 31 days. If a client places more than 1 withdrawal within a 31 day period then the client will be charged for all subsequent withdrawals. In case the client is required to cover the withdrawal cost it will be charged as follows:
skrill: 1% of the withdrawal amount
neteller: 2% of the withdrawal amount (with a maximum of 30 USD). Minimum charge is 1 USD.

Reliable trading since 2012

Risk warning: cfds are complex instruments and come with high risk of losing money rapidly due to leverage. 42.10% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

• Cysec regulated


• FCA registered


• Bafin registered




• 


• 

X global markets ltd is a european investment firm that is authorized and regulated by the cyprus securities and exchange commission (cysec) and is holder of CIF license 171/12. The firm is registered in the republic of cyprus under company number HE 291958.

XGLOBAL markets is a trading name of X GLOBAL markets ltd.

© 2021 X GLOBAL markets ltd. All rights reserved.

Forex brokers with best money withdrawal options in 2021

The best and most exciting thing about forex trading is, of course, to withdraw your profit from the forex broker. Say you have been trading, made a considerable amount of profit and now you want to spend your profit. In order to be able to do it, first you have to get your money back from the broker. To withdraw money from your forex account is very straightforward in general but does require you to take few steps.

Forex brokers with best money withdrawal options

Forex.Com

Forex.Com is owned and operated by an industry giant; GAIN capital holdings who has been around for more than 20 years. Forex.Com is registered and regulated by CFTC, NFA and CIMA. The broker accepts clients from the US. Investors can deposit and withdraw funds by credit card, bank card and wire transfer. Digital wallets are going to be available soon.

Money withdrawal options: credit card, bank card, wire transfer

XM

XM puts more than ten methods of deposit and withdrawal under disposal of its clients. In addition to international bank transfer and credit card which has become industry standards as deposit and withdrawal methods, XM clients can use various other methods. Those methods include neteller, skrill, unionpay, web money, ideal, moneybookers, moneygram, sofort and western union. One important detail which makes XM even more favorable is that the broker covers international wire transfer commission of its own part which considerably reduces the withdrawal cost.

Money withdrawal options: wire transfer, credit card, neteller, skrill, unionpay, web money, ideal, moneybookers, moneygram, sofort, western union

Fxpro

Regulated by FCA,cysec and SCB, fxpro is headquarted in london and one of the most prominent forex brokers in the industry. Traders who open an account at fxpro can withdraw and deposit funds through credit card, international bank transfer (SWIFT), paypal, skrill, neteller and china unionpay.

Money withdrawal options: wire transfer, credit card, paypal, skrill, neteller, unionpay

Hotforex

Established in 2010 and headquartered in cyprus, hotforex is an award winning forex broker that offers a wide range of account types and trading instruments. The broker is pursuing a policy of providing the most convenient and advantageous trading conditions for the traders. You can deposit money in hotforex using credit or debit cards and bank wire transfers. Apart from that hotforex also accepts skrill, neteller, fasapay, sofort, mybitwallet, ideal and webmoney.

Money withdrawal options: wire transfer, credit card, skrill, neteller, fasapay, sofort, ideal, webmoney, bitcoin

Exness

Exness was founded in 2008 in russia and has grown into one of the most popular forex brokers in europe since then. The company is regulated by cysec in cyprus and FCA in UK. Having a wide array of payment methods, transacting money on this brokerage platform is pretty easy and quick.

Money withdrawal options: wire transfer, credit card, skrill, neteller, webmoney, perfect money, sticpay, jeton wallet

Choose the withdrawal option

When it comes to withdraw your profit from forex brokers, the methods are not scarce including credit card, wire transfer, paypal, neteller, skrill, western union, bitcoin to name a few.

I usually go with wire transfer when withdrawing my profit. Nevertheless it comes with some caveats. Wire transfer is recommended if only you are going to withdraw an amount over a thousand. Otherwise the bank transfer fees are going to eat up your hard earned profit. Bear in mind that when you choose to get your money back through wire transfer, you are going to get double charged (once by the bank in where your forex broker is located and again by your local bank). The fees could range from $50 to $100 in total. The certain amount completely depends on the bank the broker is working with and your local bank. International wire transfer fees charged by some US banks are explained in this article.

My second favorite option to withdraw funds from forex account is credit card. Again there are some caveats. Some forex brokers don’t allow you to withdraw more than what you deposited with the same credit card. When you deposit $1000 to your forex account using credit card, you can only withdraw an amount up to $1000 by the same card. So you will have to choose another withdrawal method to transfer your profit.

Though I haven’t used so far, other popular methods are digital wallets like neteller, skrill, paypal. Forex brokers don’t charge extra fees to withdraw money by digital wallets however those services apply their own fees when you want to transfer money from the wallet to your bank account.

Submit your withdrawal request

After you decided the best transfer option for you, you have to submit your withdrawal request. Forex brokers used to demand clients to print out a withdrawal form then fill, sign and forward it to the broker by mail or e-mail.

However nowadays you don’t have to go through this cumbersome process. Majority of the forex brokers provide clients with a username and password for the client portal where they can submit their money withdrawal request in just seconds.

Just log in to the client portal, navigate to the money withdrawal section, fill the online form and click the submit button. Congratulations!

An important caveat is that some forex brokers do not require clients to verify their account till to the point they wish to withdraw funds from their account. If this is the case for the broker that you are trading with, you will need to verify your forex trading account by loading proof documents for ID and address. However, you will have always the chance to verify your account upon registration in case you do not want to worry about the last minute rush.

Wait until your fund is transferred to your bank account / credit card / digital wallet

It ranges between one to three business days depending on the forex broker and withdrawal option you used. Wire transfer and credit card transfers could take up to three business days. Though I remember several times that I received the funds same day when I used wire transfer as the transfer option. The commission and fees are not fixed for wire transfer. Since there are three banks involved at a wire transfer transaction, it is hard to know the exact amount that is going to be charged as commission. However, based on my experience, I can say that it should range between $30 and $100.

Digital wallets such as skrill and neteller has a different commission and time schedule. First time you incur any commission is the moment you withdraw funds from your trading account. The rate changes between %3 and %2 of the amount you like to withdraw. It takes fews days between the time that money leaves your trading account and arrives at your digital wallet. Second time you will get charged is the moment you transfer the money from your skrill account to your bank account. That is another %3 – %2 commission.

Wire transfer is my preferred withdrawal and deposit method. I use digital wallets only if wire transfer is not among the methods offered by the forex broker. Credit card is fast and more reasonable than any other withdrawal and deposit method. Nevertheless, I shall kindly point out that in the case you choosed credit card as a withdrawal method, you can only withdraw the amount you deposited by the same credit card. Therefore, you will have to use another method in order to be able to withdraw your profit.

Fxdailyreport.Com

To answer this question, you need to understand how the trading market works. Forex brokers (dealing centers or dcs) are such licensed companies that provide traders with professional services for access to trade in the international currency market. The success of work on forex depends on the right choice of a dealing center.

Therefore, you should give a preference to a reliable and experienced broker with a variety of trading instruments. The company should have a long history of completed foreign exchange transactions. But how to choose the best forex broker for withdrawal?

How to choose the best forex broker for withdrawal?

Choosing a broker for trading on exchanges should begin with collecting information about successful transactions and openness in working with clients. A reliable broker has its portfolio of deals, a large number of reviews from customers.

The simplest way is to check the published lists of traders, which are continually changing and updated. The trader with the most reviews will offer some of the safest working conditions. We also recommend paying attention to how the process of registering and depositing money with a particular broker is going.

• Forex broker license

The presence of a broker license allows you to judge his conscientiousness and honesty in his approach to trading. A licensed broker is more likely to complete all transactions and also carries them with benefits not only for himself but also for the client.

But to obtain a license from well-known world communities or government agencies, a broker needs to try hard and earn a positive reputation. If you see that an unknown office located on a distant island issued the permit – you should avoid working with this broker.

• Forex brokers rating

On the internet, you can find several independent from each other ratings of popular brokers. You can sort them by the number and quality of reviews, working hours, and other essential parameters. We recommend you to pay attention to the number of completed transactions, the regularity in payments to customers, and not to leverage or the promised interest.

Top 10 forex brokers

broker	info	bonus	open account
	min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
	min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
	min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
	min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
	min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
	min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
	min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
	min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
	min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
	min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker

In general, do your first steps in trading with the help of brokers with caution, trading on small amounts. Hence the preference in favor of traders with work experience and safe conditions.

• How do brokers earn?

Usually, brokerage support in the foreign exchange market is not free. And dealing companies, like traders, have some financial interests. How do they earn? Providing comprehensive support for trader transactions, such agents get income that makes up the difference between the purchase/sale prices of traded currency pairs (spreads).

Or they receive direct payment from the trader for each trade transaction conducted. Depending on the chosen scheme of work, a brokerage company can only get commissions or have additional sources of income.

• Reliable forex brokers

How to find a dealing center to which you can safely entrust your trading operations? One of the surest ways is to choose a broker on the recommendation of traders already working with them. Numerous ratings will also help ease the choice.

They publish information on the most successful and reliable forex brokers regularly. Besides, remember about such vital points as the transparency of the information provided on the dealing company activities. Check the legal documents and the availability of client support, working 24/7.

Three categories of brokers

In the modern foreign exchange market, there are three leading categories of brokers.

• Classical (most expensive) intermediaries work in the full-service format. They provide clients with a full range of services – from receiving orders to legal support of accounts.


• Discount dealing centers (discount broker) put the orders to the forex market. As payment for their work, they receive a monetary reward in the form of a percentage commission.


• Electronic or online brokers specialize in online transactions and have been extremely popular lately.

Withdrawal process in different brokers

How to withdraw money from your trading account? Every trader should ask himself this question when signing a service agreement. Let us talk about the withdrawal process on forex.

Why does a trader come to the forex currency market? Generally, not for fun, but profit. For this purpose, you study the basics of technical analysis, try various trading strategies, and read a lot of information. Finally, you achieved the result – profit. And the most critical question arises – how to get your hard-earned money?

How to withdraw money on forex?

The problem is that many traders choose brokers to trade without getting known how to get your earnings back. Many brokers have enormous commissions, and it may be that you did not even know about them. Let’s talk in more detail about how to withdraw money from a forex broker trading account.

What to do before opening a real account

Before you open a real deposit with a chosen forex broker, you should inquire about what conditions the broker withdraws the earned profit.

As a rule, money is available for withdrawal only after passing the verification procedure.

At the same time, verification can have several levels, on each of which you will need scans or photos of identity documents. Naturally, during registration, to avoid further problems, you should indicate your real last name and first name.

It is highly advisable to do the verification procedure before depositing funds. The requirements of a forex broker regarding the quality and quantity of necessary documents can seem needlessly strict to you. In this case, nothing stops you from changing your company before starting a financial relationship with it.

As a rule, there are no difficulties with verification. Most forex brokers request a standard set of documents: a passport scan and the confirmation of the address of your residence. After completing the verification, you only have to choose a suitable withdrawal method.

Most companies have a bonus program. Carefully read the terms of granting this bonus. Some bonuses limit the withdrawal of profits or even make it impossible without losing the reward.

Most popular ways of withdrawal

The methods for withdrawing profits, as well as the timing of this procedure, are different for each forex broker. For example, big companies withdraw money only to a bank account. Naturally, everything goes officially, including the income tax for individuals.

Dealing centers and brokers do not limit their services only in this way but offer many more ways to get your profits – from electronic payment systems to cryptocurrency. That is why you should choose a broker that uses the withdrawal method most convenient to you.

• Electronic payment systems

Most companies allow you to withdraw profits on electronic wallets of the most common payment systems. The leaders are paypal, skrill, and neteller. When choosing a payment system, be sure to check how much money you will lose when withdrawing profits. For example, neteller has a commission of 1% (no more than 11.41 USD or 10 EUR) and a fee of 1.39% of the withdrawal amount.

At the same time, pay attention to the timing. The withdrawal may take from several business hours to several business days – this will be indicated on the broker’s website and in the contract.

• Withdrawal to a bank account

This method is not so popular among ordinary traders. The commission charged in this case is slightly higher than when withdrawing funds to the same card using the chain trading account – electronic payment system – bank card. It is especially true if the country of residence of the trader and the broker’s country are different. In some cases, for citizens of other states, this method is generally not available.

The timing of the withdrawal of money also decreases the popularity of this method. Unlike electronic payment systems, it can take from 1 to 7 banking days. Nevertheless, many traders with a substantial profit (several thousand dollars) use this system. For such traders, it is not the waiting time that matters, but its maximum reliability.

• Forex brokers cards

The trend of issuing payment cards by brokers gains popularity. Each company names them different, but they are the same – an international mastercard. This method has many advantages. Using a mastercard, you can withdraw cash at any ATM, pay in stores, make purchases on ebay or amazon.

However, the most significant benefit is different. Brokers open their cards in the offshore zone. And the law of their native state doesn’t regulate them.. Therefore, if your profit from forex trading has reached a grandiose size, this method will be most profitable.

But there are some drawbacks. The issuance of such a card is not free, and the broker also charges a card maintenance fee. Therefore, if your profit is not too big, there is no reason for using it.

Conclusion

As you see, choosing the best forex broker for withdrawal is a quite complicated task. First of all, you should determine your needs and the most convenient withdrawal method for you. And only then you can start looking for a broker.

You have come to the foreign exchange market with serious intentions to make money. So the question of money withdrawal should interest you first of all. After all, the goal of a trader is earning, and not to deposit money on a forex broker account.

Having problems with your withdrawal request? You are not alone…

Published: 24th september, 2019.

Trading in the retail forex market is high risk. Yes, we have all been told that sobering fact hundreds of times on every broker’s website, but the true appreciation of the risk and the fear, we might add, may only happen when we make a withdrawal request, follow all of the rules, and then wait forever for something to happen. Does the following complaint on a forex complaint blog website ring true:

“I have been dealing with this broker for a long time. They are good for trading and for making other investments, too. In the past, I have always been able to get a withdrawal request processed quickly, but now, for some reason, I have been waiting over two months for my money. I tried contacting the company, but they are not replying to my calls or emails. I hope they make my payments soon, but I cannot help but think the worse. Is my broker in trouble or have I been completely scammed?”

At forexfraud.Com, we receive many complaints like the one above, but answering either of the last two questions at the end of the complaint requires a great deal more information to arrive at truthful answers. In this case, no one replied from the broker. A failure to communicate is indicative of a host of other issues, which could range from poor customer service to financial insolvency to being outright fraud. In many of our investigations, there is typically a lengthy litany of emails going back and forth that describe several misunderstandings or blatant excuses for why a withdrawal is being delayed or why an account has been frozen.

At the end of the day, all any trader wants is a return of his own money. If there is a bonus involved, then the broker can keep that amount, but the client’s money should not be held up for ransom… but it typically is. Many customers fail to read the fine print in the legal obligations that you accept the moment any promotional monies are added to your account. You may think the broker is giving you money, but he actually wants you to overtrade, thereby giving him an ample period of time to recover the bonus and more. For traditional forex brokers, the extra trading brings more fees. Binary option brokers, however, need you to lose to support their operation and pay winners.

Failure to fulfill bonus trade commitments may tie up your funds

There are a few legitimate reasons that could delay your withdrawal request. Your open positions may have margin requirements that will put a hold on a portion of your funds. Be sure to check how these calculations are made. If your anti-money laundering (AML) documentation is not current and in order, then you will have a problem. Brokers must follow international regulations on this issue or risk penalties and business interruptions laid down by their local regulator. The plus500 fiasco of last year demonstrated how crazy this kind of situation can get when the broker does not follow these rules.

These same rules also require that your funds follow a similar path, as when they were deposited, both in the same method of payment, as well as to the same person’s name on the account. If you try to change the how and where funds will flow, then you can also expect more delays. We wrote about these particular problems back in january of this year. As we wrote, “this type of problem is typically an early indicator that something may not be quite right with your broker. Your broker could be having financial problems, dealing with regulatory issues behind the scenes, trying to work down a large backlog of requests, or is resorting to outright fraud to stay alive.”

The vast preponderance of complaints these days, however, have to do with living up to rules set down by your broker for promotional bonuses. The broker determines the nature of these requirements, how he expects you to trade, and the discretion he has to disallow a withdrawal of his monies, if and when he suspects foul play. What is this “foul play” you ask? A highly publicized case involving ironfx and a group of chinese traders a few years back resulted in hefty fines and recriminations from all parties. The broker accused a number of traders of outright fraud and theft, while the traders accused the broker of fraud and theft, as well.

We will discuss the details of this nasty episode later in this article, but for now, let’s review the type of bonus promotions that you might encounter and the associated rules of the road, if you ever expect to withdraw any of these funds, or your own funds for that matter. Keep in mind that these rules have become more expansive and inclusive after the ironfx debacle, and that each broker is responsible for developing its own set of rules. There may be some similarities, as to form, but the formulas for deriving how much of your account balance is available for withdrawal can be complex.

What kinds of bonus programs are prevalent today?

Retail forex trading, especially the binary options sector of it, is high risk. Casualty rates run high, over 65% by some estimates and may be even higher in the digital space. For this reason alone, brokers are under intense pressure to acquire new customers. Many have resorted to aggressive marketing campaigns that include a variety of promotional bonus schemes. Brokers will advertise many of these promotions on their home page to entice you. You may have to apply for them, enter a special code, discuss the trading requirements with a customer service rep, or sign off on specific terms and conditions. Be wary of the broker that offers exorbitant bonuses or automatically credits them to your account. He may be setting an unscrupulous trap for you, a scam in progress.

Bonuses come in a variety of forms, each with specific conditions. Here are a few:

• Registration bonus: upon registration, a specific amount will be credited to your account, no deposit required:


• Welcome bonus: A specific amount or percentage of your initial deposit is added to your account;


• Deposit bonus: there may be a special incentive for increasing your balance to a higher level after you have been active for a period of time:


• Loyalty bonus: this type of bonus rewards you for your patronage;


• Refer a friend: if you solicit new business for the broker, you may earn another bonus for your effort;


• Risk free trades: in this case, the broker covers your early losses to encourage you to stick around and risk more money.

You should have a choice in the matter. You do not have to accept a bonus and the stringent conditions attached to them. Be suspicious, if this is not the case.

What types of trading requirements are prevalent today?

Traditional forex brokers tend to be more lenient in their bonus trading requirements. There may be very complicated formulas that apply a percentage, based on your account value before and after the bonus has been added, to determine what amount of your account balance can be subject to withdrawal. Other brokers may segregate the bonus in separate account and allow you to do whatever you want with your deposited monies, independent of the bonus amount.

Due to increased competition and high casualty rates, this issue has become very murky of late within the binary options space. The business model for these “all-or-nothing” options does not help either. Remember that binary options are very similar to online gambling – the house sets the odds and then uses funds from losing trades to pay winners and fund the house. There is no market that can create a “win-win”, as in traditional retail forex trading. In this case, the house always wins and must market aggressively for new clients.

As you might expect, binary option bonuses are heftier and come with heftier trading requirements. Your entire balance may be locked down until you trade anywhere from 20 to over 50 times your bonus amount. If your bonus was $1,000, could you afford to trade $50,000 worth of trades, before requesting a withdrawal? The odds are in favor of the house that you would lose both your bonus and your deposit long before you ever met this requirement. Many traders come to this realization after a string of losing trades and rush to request their money back. “no can do,” says the broker.

What happened to ironfx and its bonus programs?

Ironfx was one of the innovators for using aggressive bonus programs to grow its global customer base, and it was highly successful. Its business model drew both scorn and competition, but it was only a matter of time before a group of “malicious” traders developed a clever way to “game the system”, as the management of ironfx contended in legal proceedings.

The issues came to a head when accounts were frozen for 160 chinese clients and others, due to rule violations. The firm’s shanghai office was stormed and ransacked. Legal briefs were filed in cyprus, and, as was reported, “cysec went so far as to fine the firm €335,000, its largest fine to date, and ASIC ordered the firm to correct its disclosure documents.”

The ironfx CEO, markos kashiouris, noted in press interviews that, “indeed this claim is related to the recently identified group of abusive traders that employ an abusive trading strategy to manipulate our promotions. This group has been placed under investigation for breach of our trading terms and pending this investigation we have put a limitation on all promotions-related withdrawals from this abusive trading strategy as we are entitled to do. We are not doing anything different from other companies in the industry in china.”

The abusive trading strategy was not divulged. It is not that difficult to surmise that two duplicitous individuals could set up separate accounts and receive two bonuses. One account would buy a “high” option, while the other, a “low” option for the same asset. Over time, this hedging approach might result in bonus money being left on the table for withdrawal – maliciously “free money” from the prospective of ironfx management.

Concluding remarks

The moral of this promotional bonus story is to be very wary of the terms and conditions attached to any bonus program. By accepting these terms, you may have dug a hole so deep that you would never be able to climb out of it. Bonus programs can often be today’s version of a trojan horse.

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Review

Introduction

LBLV is an international trading company founded in seychelles back in 2017 and with 36 offices across five continents. Their line of products includes currencies, cfds, stocks, shares, indices, futures, and contracts.

Seychelles financial service authority regulates the broker under license number 8419623-2. Given that at least four oversight bodies usually regulate most brokers of its category, new traders may deem this broker less trustworthy.

However, our online analysis reveals that LBLV is highly regarded by clients who have used their service before. LBLV is open to traders from all countries apart from USA, iran, syria and north korea.

This broker is pretty new in the industry and has not received any best in class awards quite yet. From our investigation, we can confirm that this broker's platforms are easy to use for both beginners and experienced traders.

Trading conditions

LBLV requires a minimum deposit of $5000 to open a trading account. This is higher than what is asked by most brokers of the same level.

When it comes to leverage, LBLV offers 1:400, which is within the industry average. This is an STP broker, meaning that they charge a commission fee per transaction.

The main benefits of an STP broker are that they are highly efficient and also ensure speedy trade executions. LBLV offers floating spreads starting from 0.8 pips for all types of accounts apart from the VIP.

Regarding bonuses and promotions, this broker is currently offering a 30% bonus on first time deposit.

Products

As mentioned earlier, LBLV trading products include currencies, precious metals, commodities, indices, and shares. Regarding forex trading, this broker offers more than 50 currency pairs in a safe and secure trading environment.

LBLV also allows traders to trade the most popular precious metals such as gold, silver, copper, palladium, and platinum. The commodities offered include brent, copper, wheat, natural gas, and WTI.

With this broker, traders can also buy and sell over 300 shares and 40 major indices in over ten major markets. LBLV offerings are best suited for speculators as well as investors looking to build a diversified portfolio for long-term gains.

Regulation

LBLV is regulated by the seychelles financial service authority under license number 8419623-2. As previously indicated, unlike most trading companies of its category, this broker is only regulated by one oversight body.

While the light regulation may be a reason to be worried, we have not found any complaints regarding the reputation of this broker. Most online customer reviews are positive.

Internally, LBLV claims to have a compliance team that is tasked with ensuring that all its employees adhere to the industry’s standard operating requirements.

Platforms

LBLV provides traders with cutting-edge trading platforms and tools all customized to fit different trading needs. This broker offers MT5, a multi-asset trading platform that comes with all necessary tools for technical and fundamental analysis and also automated trading.

With LBLV, you can access the MT5 from your web browser or download it as a native app in your android or ios smartphone.

Their platforms are best suited for both beginners and experienced traders. Also, their free demo account is fully customized to give the beginner trader the real feel of operating in live markets and also equip them with the skills to analyze trades and use trading equipment.

LBLV trading platforms are available in three languages namely english, portuguese and russian.

Mobile trading

This broker’s web trading platforms are mobile friendly. The broker also provides a fully functional native mobile app for both android and ios devices. These apps can be downloaded on play store and also app store.

LBLV mobile apps can be used to trade forex, stocks, and futures and include all tools for technical and fundamental analysis and trades execution.

With their apps, traders can control their trading account, monitor trading history, and place trades. The apps also provide advanced features for hedging and netting.

Pricing

LBLV is an STP broker meaning that their commissions are included in the spread. This broker offers highly competitive variable spreads from as low as 0.3 pips. The minimum spread for EUR/USD is 0.1 pips. When compared to other brokers, this broker qualifies to be among the cheapest.

While the spreads are likely to be affected by market conditions, they do not change much.

Deposits & withdrawals

LBLV offers multiple deposit and withdrawal options. The accepted deposit methods include wire transfer, mastercard, visa, union pay, western union, skrill, webmoney, bitcoin, and ethereum.

The withdrawal methods include unionpay, wire transfer, skrill, western union, webmoney, yandex money, qiwi, ethereum, and bitcoin.

LBLV does not offer same day withdrawal. The accepted deposit and withdrawal currencies include USD, EUR, GBP, and CAD. Deposits are insured and segregated.

This broker does not provide information about deposit or withdrawal transaction fees and requires a minimum deposit of $250. We recommend that you inquire about transaction fees from this broker before you open an account with them.

Customer support

This broker provides customer support 24 hours a day, five days a week. Customers can reach them through technical desk email or phone. A live chat is also available on their website.

Our online research tells us that most users are satisfied with LBLV customer service. While communication through email is likely to take up to 12 hours to get a reply, the online chat is answered within minutes. The phone line is open around the clock and takes only a few minutes to get connected to an agent.

An FAQ page is also available on their website accompanied by multiple guides on various topics.

We did not find the customer service guides on their website to be adequate and comprehensive enough for beginner traders. Support is available in three languages namely english, russian and portuguese.

Research & education

LBLV's education center offers resources in forex trading, market analysis, trading psychology, trading strategies, technical indicators, signals, MT5 usage, and many others.

Educational and research resources include articles, glossaries, e-books, videos, calendar, live signals, and market commentaries.

Most of these resources are available on their website, and users do not need to register to access them. The only educational resources that require registration to access are the live signals and market commentaries.

Noteworthy points

While this broker is very new in the industry, they have managed to build a strong following for the time they have been in operation. Their marketing approach seems to be on point, and their customer service has clients interest at heart.

Another big plus is the efficiency and ease of use of their trading platforms. These platforms are based on MT5 and are well adapted for desktop as well as mobile usage. LBLV follows the STP trading model and is among the brokers with the most competitive spreads.

Conclusion

From our analysis, this broker is highly reputable and worth a try. While their minimum deposit requirements are a bit high, the resources offered and the minimal costs charged makes them worthwhile.

Our only worry is that they are lightly regulated, but for the time they have been in operation, they have proven to be trustworthy.

Comparison

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Forex brokers with same day withdrawal

USD, GBP, EUR, INR
same day processing
max. Amount: none
fees: $3/£3/€3

The company may at its own discretion not cover the payment fees of withdrawals with either no or minimum trading

Credit card: deposits by credit card must be withdrawn back to the same credit card if a withdrawal is requested within a period of six months from the deposit time. In case the 6 month period for credit card withdrawal lapses, the client should provide a bank statement in order for windsor to be able to send the funds back to a bank account in their name, preferably the bank used when depositing.

Electronic funding: you may be required to access your payment provider to continue your transaction. Make sure you have your credentials ready. Deposits by E-wallets (neteller, webmoney, skrill) must be withdrawn back to the same E-wallet.

Wire & money transfer: using this method you may need to visit your bank or the money transfer provider to process your transaction. Funds must be withdrawn back to the same bank account used when depositing.

Reach new heights

Windsor brokers is offering investment services and activities to its clients since 1988.

Windsor brokers (BZ) ltd is regulated by international financial services commission in belize, offering its services within the rest of the world except USA, EU and belize.

Seldon investments limited/jordan, registered under company national number 200168191, is licensed and regulated by jordan securities commission (JSC), offering its services mainly to jordan and arabic region.
Windsor brokers is offering forex and CFD trading on gold, oil, soft commodities, shares, indices and more.
Windsor brokers is committed to maintain the highest standards of ethical behavior, professionalism, integrity, as well as a high level of trust and confidence.
Services and products offered by windsorbrokers.Com are not intended to be used by residents of the united states of america, belize and the member states of the european union. WB global ltd is the EU registered company situated at spyrou kyprianou 53, 4003 limassol, cyprus facilitating payment services to windsorbrokers.Com

Windsor brokers ltd is a cypriot investment firm, licensed and regulated by cyprus securities and exchange commission (cysec), under the license no. 030/04, offering its services mainly within the european region under windsorbrokers.Eu

Risk warning: contracts for difference (CFD) are complex financial instruments carrying a substantial level of risk, and may not be suitable for all investors, as may result in a loss of all invested capital rapidly due to leverage. You should consider whether you understand how cfds work, your investment objectives, level of experience, risk appetite and, if necessary, seek advice from an independent financial advisor. Please read the full risk statement

Best forex brokers – top 10 brokers 2021 in the united kingdom

How should you compare forex brokers, and find the best one for you? In our forex brokers reviews list, we have taken into account a wide range of ranking factors, from fees and spreads, to trading platforms, charting and analysis options – everything that makes a broker tick, and impacts your success as a trader.

The “best” forex broker will often be a matter of individual preference for the forex trader. It may come down to the pairs you need to trade, the platform, currency trading using spot markets or per point or simple ease of use requirements.

But we can help you choose…

Below are a list of comparison factors, some will be more important to you than others but all are worth considering. Details on all these elements for each brand can be found in the individual reviews.

Forex brokers in the united kingdom

How to find the best forex broker

The main criteria for finding the best forex brokers in the united kingdom 2021 are these – we will expand on each area later on in the article:

• Trading conditions/fees – this is the most important part of your global forex broker appraisal. There is no way around that. One forex broker may charge you 10 times less for the same trade than another. Take note of “hidden” fees, such as withdrawals fees, or inactivity fees.


• Market coverage – you need to be able to trade the fx pair or product of your choice/preference.


• Accessibility and affordability – beginner forex traders and small-timers need love too. You should never be forced into making a minimum deposit that you cannot afford to lose. Minimum deposits range from $10 to $1000 (or the £ / € equivalent). It might be worth investing more for a platform that suits you better, so stay open minded.


• Trading platforms – the forex trading platform and the tools it features are your primary weapons in your personal war for profits. Pick the one that suits you best. Remember many platforms are configurable, so they can be tailored to suit you. Personal preference will play a large part here, as many trading platforms offer very similar services, but look and feel very different. Is a mobile platform your priority, or a desktop web trading platform?


• Mobile trading apps – being able to trade on the go may be important. Some mobile apps are superior to others. Ideally the mobile platform will function just as the web based version.


• Deposits and withdrawals – you have to move funds to and from the broker, quickly and preferably cheaply. The deposit/withdrawal methods supported by the forex broker determine whether or not you can accomplish that. Financing an account may also require a specific payment method.


• Reputation – people talk. It is well worth listening to what traders say about a forex broker they have already tried.


• Regulation – when push comes to shove, legal recourse is your first, last and only hope to settle the problems you might have with your forex broker. A proper regulatory framework is preventive in nature. It aims to keep such problems from popping up in the first place.


• Customer support – you need someone to talk to when you run into problems with your deposits, actual trading, or – god forbid – withdrawals. Competent support is a must. From opening an account, to help with the platform, customer support can be important.


• Company background and history – knowing the past exploits of your forex broker can give you a better idea of what it is up to now. A listed company has to publish numerous elements of information about their balance sheet for example. You want peace of mind that your trading funds are segregated, and held safely and securely.


• Education – it never hurts to improve your understanding of how the forex markets work and how you can make the most of the opportunities they present. Some brokers offer extensive educational tools.


• Account opening / registration – is it a simple process to open an account? Do clients need to be verified? These processes are not always the same and might be worth considering if opening a trading account has been problematic in the past.

Broker costs

The services that forex brokers provide are not free. You pay for them through spreads, commissions and rollover fees. Low trading fees are a huge draw.

The fee structures differ from one forex broker to another, and even from one account type to another. There are two widely used basic setups.

• The broker charges a spread only. All other fees – with the exception of the rollover rate – are included in the spread.


• Besides the spread, a commission is charged as well. This commission is based on the amount you trade.

Spreads

Of these two forex broker fee arrangements, the second one is arguably the more transparent. That said, the commission/spread combination may not be the cheaper choice in every instance.

The spread can be fixed or variable. Fixed spreads are always constant. ECN broker may even deliver zero spreads. Variable spreads change, depending on the traded asset, volatility and available liquidity.

A currency market and spread go hand in hand.

Daily spreads may only differ slightly among brokers, but active traders (or even hyper active traders) are trading so frequently that small differences can mount up and need to be calculated to compare trading costs.

The lowest spreads suit frequent traders.

Some brokers focus on fixed spreads. There are indeed 1 pip fixed spread forex brokers out there too.

Forex brokers with low spreads are certainly popular. Do take commission and rollover/swap into account as well with such brokers though.

What is the rollover rate?

Forex positions kept open overnight incur an extra fee. This fee results from the extension of the open position at the end of the day, without settling. The rollover rate results from the difference between the interest rates of the two currencies. The first of the pair is the base currency, while the second is the quote currency.

Forex pairs traded

While most forex brokers offer impressive-looking selections of currency pairs, not all of them cover minors and exotics. Does the broker offer the markets or currency pairs you want to trade?

If you are trading major pairs (see below), then all brokers will cater for you.

If you want to trade thai bahts or swedish krone as the base currencies you will need to double check the asset lists and tradable currencies.

Majors

The aussie dollar ans swiss franc, while considered ‘minor’ pairs, are often traded in high volume. You can read more about those here: aud/usd or usd/chf

That said, there are brokers out there that will truly go out of their way to cater to their traders’ needs. Some will even add international exotics and currency markets on request.

Such flexibility is obviously a major asset, positively impacting the overall quality of the service.

What about crypto?

Cryptocurrency pairs are quite ubiquitous nowadays. Crypto/fiat and crypto/crypto pairings are both popular.

The massive volatility associated with these products makes scalping a viable strategy for profitable trading.

Some traders are in the forex game specifically to trade the crypto volatility. Such operators obviously need a forex broker that features as many crypto pairs as possible.

Micro accounts

Not everyone trades forex on a massive scale. In fact, many forex traders are small-timers. Such forex clients appreciate forex brokers’ micro accounts, some of which have the US dollar as their base currency.

Some forex micro accounts do not even have a set minimum deposit requirement. Such cheap trading options certainly make sense for those looking to dive deeper into real money trading, without risking their life savings.

Note however that the spreads/commissions on such micro accounts tend to be quite adverse.

It is however, a cheaper introduction to a complex market (similar to cfd accounts) – and trading for real beats a demo account for genuine experience learning how to trade.

Trading platforms

Forex trading platforms are more or less customisable trading environments for online trading.

They provide traders with technical analysis tools, live news feeds, diverse order types, automation, advanced charting and drawing options etc. Some may include sentiment indicators or event calendars.

Metatrader 4 or 5

Integration with popular software packages like metatrader 4 or 5 (MT4 or MT5) might be crucial for some traders. Many brands offer automated trading or integration into related software, but if you are going to rely on it, you need to make sure.

Trading view

Tradingview is also a popular choice. Some forex brokers allow their traders to trade directly on the world’s top social trading network.

Proprietary solutions are often interesting, though in some cases less than optimal. For traders who base their strategies on the use of eas and VPS, a proprietary platform that does not support such features, is useless.

While we are discussing strategies: not all forex brokers support strategies such as hedging, scalping and eas.
Make sure you understand any and all restrictions in this regard, before you sign up.

If you want scalping, see if your broker is a forex broker for scalping.

For those who want to trade on the go, a mobile trading app is obviously important. While all forex brokers feature such apps these days, some mobile platforms are very simplistic.

They lack all the advanced analysis and market research features, and as such, are hardly useful.

Tools & features

From charting to futures pricing or bespoke trading robots, brokers offer a range of tools to enhance the trading experience.

Again, the availability of these as a deciding factor on opening account will be down to the individual.

Level 2 (or level II) data is one such tool, where preference might be given to a brand delivering it.

Deposits and withdrawals

There are some massive disparities between the costs associated with deposits and withdrawals from one broker to another. Such disparities mostly result from the internal procedures observed by different brokers.

At one given broker, it can take as much as 5 times longer to fund an account than at another. The incurred costs differ quite a bit as well.

Otherwise, the payment process largely hinges on the accepted money transfer methods.

It would make sense for brokers to adopt as many such methods as possible, yet some still fall well short of the mark.

Education

Some traders may rely on their broker to help learn to trade. From guides, to classes and webinars, educational resources vary from brand to brand.

A broker however, is not always the best source for impartial trading advice. Consider checking other sources too – such as our trading education page!

Payment methods

The most common methods are bank wire, VISA and mastercard. The majority brokers tend to accept skrill and neteller too.

Forex brokers with paypal are much rarer. The same goes for forex brokers accepting bitcoin.

We are not talking about bitcoin trading, but actual deposits made in the top cryptocurrency.

Proper forex brokers always provide a local-specific payment solution to their target countries.

Customer feedback

Based on actual user feedback, forex broker reputation can best be gleaned from various community review sites and forums.

You have to take this type of feedback with a grain of salt, to say the least.

First of all: disgruntled traders are always more motivated to post feedback. They are not likely to be unbiased.

Secondly: not all of this feedback is factually correct. Furthermore, there is no way to actually fact-check/verify this data. Even sites like trustpilot are blighted with fake posts or scam messages. There is no quality control or verification of posts.

That said, it is still relevant. If there’s a forex broker about which no one has ever said anything good, chances are it might have issues. To the trained eye, genuine trader reviews are relatively easy to spot.

The utter lack of community feedback is red flag as well. People always have something to say about their forex broker or trading account. Therefore, something is definitely amiss if there is no information available in this regard.

Regulation

Regulation should be an important consideration if trading on the forex market. Whether the regulator is inside, or outside, of europe is going to have serious consequences on your trading.

ESMA (the european securities and markets authority) have imposed strict rules on forex firms regulated in europe. This includes the following regulators:

ESMA have jurisdiction over all regulators within the EEA

The rules include caps or limits on leverage, and varies on financial products. Forex leverage is capped at 1:30 (or x30). Outside of europe, leverage can reach 1:500 (x500).

Traders in europe can apply for professional status. This removes their regulatory protection, and allows brokers to offer higher levels of leverage (among other things).

Outside of europe, the largest regulators of trading accounts and brokers are:

These cover the bulk of countries outside europe. Forex brokers catering for india, hong kong, qatar etc are likely to have regulation in one of the above, rather than every country they support.

Some brands are regulated across the globe (one is even regulated in 5 continents). Some bodies issue licenses, and others have a register of legal firms.

So to reiterate, an ASIC forex broker can offer higher leverage to a trader in europe.

Offshore regulation – such as licensing provided by vanuatu, belize and other island nations – is not trust-inspiring. Beyond a nominally available dispute-resolution system, such regulatory coverage offers you no protections.

Regulators such as ESMA (european securities and markets authority) generally frown upon bonuses.

Forex brokers not affected by ESMA can afford to give you potential extra value through promotions. Those same ESMA rules are also why some brands are duty bound to display warnings about CFD trading creating a “risk of losing all your money“.

Security

Most brands will follow regulatory demands to separate client and company funds, and offer certain levels of user data security.

Some brands might give you more confidence than others, and this is often linked to the regulator or where the brand is licensed.

A worthy consideration. Some regulators will set a higher benchmark than others – and being registered is not the same as being regulated.

Account security also differs among brokers. Some may offer the additional layer of protection of 2FA (two-factor authentication) to ensure only you have access to the account.

Demo accounts

Try before you buy. Most credible brokers are willing to let you see their platforms risk free. Trading on a demo account or simulator is a great way to test strategy, back test or learn a platforms nuances.

Try as many as you need to before making a choice – and remember having multiple accounts is fine (even recommended).

FX leverage

For european forex traders this can have a big impact. Forex leverage is capped at 1:30 by the majority of brokers regulated in europe. Assets such as gold, oil or stocks are capped separately.

In australia however, traders can utilise leverage of 1:500. That makes a huge difference to deposit and margin requirements. Australian brands are open to traders from across the globe, so some users will have a choice between regulatory protection or more freedom to trade as they wish.

Just note that higher leverage increases potential losses, just as it does potential profits.

Company history

A proper regulatory agency will not think twice about handing out cease and desist orders to dishonest brokers. It will also likely blacklist them.

This practice creates a sort of online trail, an operational history of sorts, highlighting the past sins of currently “reputable” forex brokers.

What’s interesting about this history is how little exposure it receives. You actually have to scour the archives of regulators to happen upon such relevant bits of information.

Bonus

From cashback, to a no deposit bonus, free trades or deposit matches, brokers used to offer loads of promotions. Regulatory pressure has changed all that.

Bonuses are now few and far between. Our directory will list them where offered, but they should rarely be a deciding factor in your forex trading choice.

Also always check the terms and conditions and make sure they will not cause you to over-trade. Many have time limits or turnover requirements.

Additional account details

When comparing brokers, there are also other elements that may affect your decision. These will not affect all traders, but might be vital to some.

Order execution types

Once you click the “open trade” or “enter” button in your trading interface, you start a rather intricate process. Your broker uses a number of different methods to execute your trades.

Exactly which method it uses for a particular trade will be reflected in the price you pay for it. Some brokers only support certain order execution methods. For instance, your broker may act as a market maker and not use an ECN for trade execution.

If you are looking for this method specifically, you will need to seek out an ECN forex broker.

Ecns are great for limit orders, as they match buy and sell orders automatically within the network.

Some other options that your forex broker can use are:

• Order to the floor. Mostly used for stocks. This execution type is handled manually, through actual trading floors/regional exchanges. It is therefore extremely slow.


• Order to third market maker. This execution type involves a third party, which is a market maker. This party is the one handling the order.


• Order to market maker. This method is essentially the same as the above one. The market maker handles trade execution. Some market makers pay brokers to send them orders. Thus, your order may not end up with the best market maker.


• Internalization. When using this method, the broker matches the order from its own inventory of assets. This execution method is therefore extremely fast.

Order execution is extremely important when it comes to choosing a forex broker. It also goes hand-in-hand with regulatory requirements.

Broker reporting

Both ESMA and the US’s SEC require brokers to report the quality of the execution their services provide. Regulators aim to make sure that traders get the best possible execution.

Mifid II sets clear guidelines in this regard. Online forex brokers are required to submit data concerning their execution methods as well as execution prices on a trade-by-trade basis.

This may seem tedious, but it is the only way to head off fraud. The prices are compared to the public quotes. If the broker executes trades at better prices than the public quotes, it has some additional explaining to do.

If it routes the trader’s order through a less-than-optimal path, it has to disclose this fact to the trader.

These examples yet again showcase the importance of a proper regulatory background.

Account types

From cash, margin or PAMM accounts, to bronze, silver, gold and VIP levels, account types can vary. The differences can be reflected in costs, reduced spreads, access to level II data, settlement or different leverage.

Micro accounts might provide lower trade size limits for example.

Retail and professional accounts will be treated very differently by both brokers and regulators for example. An ECN account will give you direct access to the forex contracts markets.

So research what you need, and compare it to what you are getting.

Scams

Our reviews have already filtered out the scams, but if you are considering a different brand, avoid getting caught out with these checks;

• Were you ‘cold called’? Reputable firms will not call you out of the blue (this includes emails, or facebook or instagram channels)


• Are they offering unrealistic profits? Just stop and consider for a minute – if they could make the money they are claiming, why are they cold calling or advertising on social media?


• Are they offering to trade on your behalf or use their own managed or automated trades? Do not give anyone else control of your money.

If you have any doubts, simply move on. There are plenty of legitimate, legal brokers.

With all these comparison factors covered in our reviews, you can now shortlist your top forex brokers, take each for a test drive with a demo account, and select the best one for you.

We have ranked brokers based on our own opinion and offered ratings in our tables, but only you can award ‘5 stars’ to your favourite!

Read who won the daytrading.Com ‘best forex broker 2021‘ on the awards page.

Difference between A broker and A market maker?

A broker is an intermediary. Its primary (and often only) goal is to bring together buyers and sellers. By matching orders, hopefully automatically, without human intervention (STP), a broker fulfils its task. For this service, it collects its due fees.

A market maker on the other hand, actively creates liquidity in the market. It always buys and it always sells, acting as a counterparty to traders. Should your forex broker act as a market maker, it will in effect trade against you.

The conflict of interest in this setup is obvious, but it does happen.

The bottom line

Hopefully, you now understand some of the methods we’ve used to create our forex brokers ranking list.

Picking the right broker is no easy task, but it is imperative that you get it right. While we can point you in the correct general direction, only you know your personal needs. Take them into account, together with our recommendations.

Forex broker reviews

Use this table with reviews of the top forex brokers to compare all the FX brokers we have ever reviewed. Note that some of these forex brokers might not accept trading accounts being opened from your country.

If we can determine that a broker would not accept your location, it is marked in grey in the table.

Fxdailyreport.Com

Till about a decade ago, you had to make use of the telephone if you wanted to invest in the financial markets. You had to call up your broker for placing as well as closing orders. Introduction of online trading has, however, simplified every aspect of the investment process. You can carry out trades from the convenience of your home or on-the-go using the platform provided by brokers. Sounds simple, but the problem is there are umpteen number of forex brokers that offer trading platforms out there in the market. And, you need to work with the best forex broker if you want to achieve your financial goals. So, it all boils down to identifying the right broker to work with and it is definitely not an easy task. Read on to find out as to how you can identify the best forex brokers. In this post, various aspects you need to take into consideration when choosing a forex broker are discussed in detail so that the selection process becomes simpler and easier for you.

Top recommended and the best forex brokers for 2021

Broker	info	bonus	open account
	min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
	min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
	min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
	min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
	min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
	min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
	min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
	min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
	min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
	min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker
	min deposit: $100 spread: starting 0 pips leverage: up to 500:1 regulation: FCA UK, ASIC australia, MAS singapore	visit broker
	min deposit: $1 spread: fixed spread from 3 pips leverage: up to 1:1000 regulation: CBR, cysec and FFMS	30% forex deposit bonus	visit broker
	min deposit: $250 spread: as low as 0.1 pips leverage: up to 400:1 regulation: ASIC australia and FCA UK	visit broker
	min deposit: €100 spread: the spread can be as low as 0.01%” (0.01% = spread for EUR/USD) leverage: 1:294 regulation: ASIC, cysec, FCA (UK)	visit broker
	min deposit: $100 spread: starting from 0.9 pips leverage: 400:1 regulation: MIFID, FSB & ASIC	visit broker

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Main parameters to be checked for identifying the best forex brokers:

#1: regulations and licenses

It is highly recommended that you choose only forex brokers that are regulated or authorized by leading regulatory bodies such as commodity futures trading commission (CFTC), national futures association (NFA) and financial conduct authority (FCA in UK), among many others. This is because regulated brokers are more reliable than their non-regulated counterparts. Further, your hard earned money remains safe with such brokers for two reasons: they will be appropriately capitalized and they maintain segregated accounts for theirs as well as traders’ funds.

#2: forex trading platform

The online trading platforms that recommended forex brokers provide would not only be simple, but also intuitive and easy to operate or navigate. It, therefore, makes sense to try out a few online forex platforms and see for yourself as to which one has a better user interface and is easily navigable.

#3: customer support services

Customer support is a key aspect that you need to evaluate. Best fx brokers would often be aware of the needs of the traders and provide good, efficient and responsive customer support services. During the course of trading forex on an online broker’s platform, there will be times when you need certain time sensitive clarifications. If the customer support service of the broker you are planning to work with is not good enough, you could end up losing money. It is, therefore, recommended that you evaluate the brokers’ customer support service both by speaking to their representatives on telephone and by communicating with them through email.

Leverage offered for forex trading varies from one broker to another. If the leverage is high, the trader can make more profits. However, the risk of accumulating losses is also equally higher. Therefore, you should choose a broker that offers leverage suiting to your needs and based on your style of trading.

Brokers often try to attract you by offering high capital bonuses when you make your first deposit. This is good because you get more money for trading. You can choose the broker that offers the highest first deposit bonus, but you should make sure other aspects discussed above and those that are discussed below suit your needs.

#6: deposits and withdrawals

It is important that you understand the brokers’ policies related to deposits and withdrawals. The features to be evaluated when choosing top forex brokers are minimum amount to be deposited to start trading, deposit methods offered, currency options provided, minimum withdrawal amount specified and waiting time for withdrawals, among others. Further, it makes sense to go through all other written policies in detail.

Brokers make money by charging a fee for each of the trading transactions that you execute on the forex trading platform provided by them. As far as the broker and you are concerned, the significant source of revenue would be the spread, the difference between ask and bid prices. It pays, therefore, to check as to how the brokers you have shortlisted handle spreads:

Do they offer fixed or variable spreads?
What is the average and maximum spread for the currency pairs that you are planning to trade?
What spreads are offered when the volatility is very high?
Do you have to pay any commission for each trade apart from the spread?

Before buying a car, you always go for a test drive. Similarly, look for forex brokers that offer demo accounts. This helps you to open a practice account. You can try out their platform and find out for yourself as to which of the shortlisted brokers is best suited to your requirements. Most brokers offer practice accounts these days. So, it is easy for you to get a feel of the brokers’ platform before committing to depositing money and trading.

#9: other parameters for identifying the best forex brokers

The forex brokerages that offer very low account minimums can be considered for evaluation under the category “best forex brokers”. This is good because you don’t have to deposit large amounts of money in order to trade forex. Minimum account balance can be as low as $5 in the case of some of the reliable forex brokers.

Online forex brokers often try to snatch business through promotions. Do not fall prey to their sales gimmicks. Best forex brokers would never make unbelievable and unachievable promotional offers. It is true that cash and prizes form part of the game, but they should be reasonable.

Another aspect to look for when evaluating online forex brokers is the educational services offered by them. This helps you to master the art of forex trading. Brokers that provide you with a variety of educational tools for assisting you in assessing the forex market are the best forex brokers to work with.

Why expert traders trade with regulated forex brokers

If you’re looking to become a successful forex trader, then working with a skilled and trustworthy broker is very crucial. In the forex market, the two main types of brokers you’ll get include the regulated and the non-regulated brokers. Obviously, the former typically operates under regulations stipulated by a forex regulator. Regulated forex brokers must also be fully licensed and registered in their country of operation, unlike their non-regulated counterparts.

Role of regulation

Of course, the role of regulation in forex market cannot be underestimated. Regulation ensures that all players in this booming industry are strictly supervised. This way, merchants are protected from the many unscrupulous traders out there looking to swindle them off their hard earned money. Another thing, regulation also builds trust between merchants and their brokers, since most merchants don’t have enough time to monitor every investment.
Let’s take a quick look at some of the leading regulatory agencies:

• CFTC and NFA: commodity futures trading commission and national futures association, regulate the financial services sector in united states of america (USA).


• Cysec: the cyprus securities and exchange commission is the regulatory watchdog within the cysec domain. It offers services to the EU member states.


• FCA: the financial conduct authority regulates the operations of over 56,000 financial services and companies in the UK.


• ASIC: the australian securities and investment commission regulate the financial services sector in australia.


• FSB: the financial services board is a south african agency which oversees functioning, regulation, and licensing of south african forex brokers.


• Bafin: bafin is a financial supervisory authority providing its services to forex companies in germany.

Advantages of regulated forex brokers

With regulated brokers, you’ll always have some peace of mind when carrying out your real-money transactions. To expound more, here are the main reasons why expert traders prefer regulated brokers:

1. Credibility

It’s an open secret that most of us like to deal with trusted organizations, especially when money is involved. That being said, the credibility of any forex broker is greatly enhanced if the company is regulated by the relevant agencies. Remember that all regulated forex brokers are mandated to follow some strict rules put in place by their respective regulatory bodies. Furthermore, their regulatory bodies expect them to regularly present a copy of their audit report. Therefore, if a broker is listed on its regulatory body list, then it’s safe to say that the forex broker has fully complied.

2. Compensation

Getting compensated in case of any unfortunate scenario is arguably the best reason why most expert traders opt for regulated brokers. With most regulated brokers, you can rest assured that all your hard earned money will be refunded in case your brokerage firm goes down. For example, brokers operating under cysec are required to remit their contribution to the ICF (investor compensation fund). This pool of funds is to help settle any form of customer claims in case of any eventuality.

3. Effective customer service

Before choosing a forex broker, it’s always recommended that you settle for one who can effectively and immediately resolve all customer issues. In this case, most regulated brokers are always competent enough when dealing with technical support or account issues. In addition, they are very helpful and kind during the whole account opening process.

4. Quick deposits and withdrawals

Any reputable forex broker will allow their merchants to make deposits and withdrawals without any hassle. A regulated broker should have no reason whatsoever to make your earnings process difficult because they don’t have control over your funds. All they have to do is to facilitate the platform to make it convenient enough for you to trade.

5. Updated trading platform

Most regulated brokers are mandated by their respective regulatory authorities to provide their clients with the latest, powerful, and easy-to-use trading platforms. In fact, most of their platforms will readily provide you with all that you need to begin trading immediately. You’ll get a lot of educational materials including webinars, videos, articles, seminars, and e-courses at no extra charge. It goes without saying that regulated brokers also offer their clients free demo accounts to help them sharpen their skills before going live.

6. Legality

All over the world, governments are struggling to deal with issues concerning money laundering. Some of them have even gone ahead to pass very strict anti-money laundering laws. So to be on the safe side, you should always trade with a regulated broker. Most regulated forex brokers will ask you to provide some of your personal identification documents such as proof of address and photo ID. This might sound tedious to you but it’s always safe to be part of a regulated organization that can prove your money is being used in a legal way.

To sum it up, regulated forex brokers are always the best as well as the safest option to trade with. This is because they are always ahead in terms of legality, security, and safety of your funds. All in all, you can manage your risks better if you opt for a regulated forex broker.

Understanding true ECN vs STP broker

The foreign exchange market, also known as currency market, is a universal decentralized market that provides traders an opportunity to trade currencies. It is a market which incorporates all aspects of buying, selling, and exchanging currencies at the present-day or determined rates.

There are different kinds of forex brokers that you can choose to trade forex with. However, though all the brokers in forex are intended to provide a similar basic solution, the way they operate behind the scenes is different. Different types of brokers have varying techniques of operation, and the specific broker you cooperate with can significantly determine your success rate as a forex trader. Here are some crucial factors that will enable you determine which broker between a true ECN and STP broker is the best one to trade forex with:

Understanding true ECN vs STP broker

True ECN i.E. Electronic communications network brokers operate without their individual dealing desk. These brokers provide an electronic trading platform where professional market makers at monetary organizations such as banks, and other online trading participants including traders can enter bids and offers through their particular systems.

STP i.E. Straight through processing brokers are brokers without a dealing desk also. These brokers apply some of the techniques utilized by market makers to provide their particular clients with trading conditions which are more flexible. By STP brokers hiring some of the tactics of market makers, they are able to bypass the limitations connected to trading exclusively within the interbank market.

General overview of true ECN and STP brokers

• Use of scalping techniques

True ECN and STP forex brokers do not care about how much their particular traders make. Therefore, these types of brokers allow traders to utilize scalping techniques to close their respective positions. Note that false ECN and STP brokers cannot allow you to use scalping techniques as a trader since they will be disadvantaged anytime you make small profits.

True ECN and STP brokers are types of forex brokers without a say when it comes to control on spread provided. These brokers have no control on spread offered since it’s the liquidity provider that determines the spread which is to be provided.

Though true ECN and STP brokers can add markups when necessary, they cannot in any way take it further down than the amount provided.

Difference between true ECN and STP brokers

• Commission charged

On true ECN accounts, as a trader you will be required to pay a fixed commission to open and close trades. The spreads offered on true ECN accounts are determined by the rates of liquidity providers.

When using STP accounts as a trader, you will not be required to pay any commissions.

Pros of trading forex with a true STP broker

• Cannot bankrupt themselves

True ECN brokers cannot trade against their specific clients to bankrupts themselves.

• Similar price rates

If you are a forex trader, trading with a true ECN broker means you are guaranteed of price rates that are similar to those of the interbank market.

• Negative balance protection

As a trader utilizing the trading account of a true ECN broker, the broker will be accountable for any dues with liquidity providers should your account read negative as a result of any reason beyond their control.

Cons of choosing a true ECN broker

Dealing with a true ECN broker will require you to pay rollover fees and commission at times.

Pros of trading forex with an STP broker

• Their rates and the interbank prices are same


• They provide their clients low entry capital requirements

Cons of choosing an STP broker

Choosing an STP forex broker means when you enter a trade you’ll not be informed what spread to expect.

Most true ECN and STP brokers are linked to several liquidity providers at the same time period. Despite both true ECN and STP brokers having incredible trading solutions which can meet your needs as a trader, their terms of operation vary. Whether you will choose a true ECN or STP broker, the rule of thumb is always ensuring you minimize losses and maximize profits as much as you can when trading forex. Ensure you compare carefully the terms of service of both a true ECN and STP broker before you choose one to handle your trading needs.

So, let's see, what we have: an overview of the withdrawal options we offer. During office hours we are able to instantly transfer funds using supported payment methods. At forex brokers with same day withdrawal

Contents of the article

• Huge forex bonuses


• Withdrawal options


• Available withdrawal methods


• How to make a withdrawal
  
  
  
  • Important note: in compliance with european...
  
  
  
  


• Withdrawal terms:


• * free withdrawal exception:
  
  
  
  • Reliable trading since 2012
  
  
  
  


• Forex brokers with best money withdrawal options...
  
  
  
  • Forex brokers with best money withdrawal options
    
    
    
    • Forex.Com
    
    
    • XM
    
    
    • Fxpro
    
    
    • Hotforex
    
    
    • Exness
    
    
    
    
  
  
  • Choose the withdrawal option
  
  
  • Submit your withdrawal request
  
  
  • Wait until your fund is transferred to your bank...
  
  
  
  


• Fxdailyreport.Com


• How to choose the best forex broker for...
  
  
  
  • Top 10 forex brokers
    
    
    
    • How to withdraw money on forex?
      
      
      
      • Most popular ways of withdrawal
      
      
      
      
    
    
    
    
  
  
  
  


• Having problems with your withdrawal request? You...


• Failure to fulfill bonus trade commitments may...


• What kinds of bonus programs are prevalent today?


• What types of trading requirements are prevalent...


• What happened to ironfx and its bonus programs?


• Concluding remarks


• Forex brokers with same day withdrawal


• Review


• Introduction


• Trading conditions


• Products


• Regulation


• Platforms


• Mobile trading


• Pricing


• Deposits & withdrawals


• Customer support


• Research & education


• Noteworthy points


• Conclusion


• Comparison


• Forex brokers with same day withdrawal
  
  
  
  • Reach new heights
  
  
  
  


• Best forex brokers – top 10 brokers 2021 in the...


• Forex brokers in the united kingdom


• How to find the best forex broker
  
  
  
  • Broker costs
    
    
    
    • Spreads
    
    
    
    
  
  
  • What is the rollover rate?
  
  
  • Forex pairs traded
    
    
    
    • Majors
    
    
    
    
  
  
  • Micro accounts
  
  
  • Trading platforms
  
  
  • Metatrader 4 or 5
    
    
    
    • Trading view
    
    
    
    
  
  
  • Tools & features
  
  
  • Deposits and withdrawals
  
  
  • Education
  
  
  • Payment methods
  
  
  • Customer feedback
  
  
  • Regulation
  
  
  • Security
  
  
  • Demo accounts
  
  
  • FX leverage
  
  
  • Company history
  
  
  • Bonus
  
  
  
  


• Additional account details
  
  
  
  • Order execution types
  
  
  • Broker reporting
  
  
  • Account types
  
  
  
  


• Scams


• Difference between A broker and A market maker?


• The bottom line


• Forex broker reviews


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• Top recommended and the best forex brokers for...
  
  
  
  • Why expert traders trade with regulated forex...
    
    
    
    • Understanding true ECN vs STP broker