The Strong and Weak Sides of Some Forex Brokers

Mobile trading

Every brokerage company has some strong and weak sides that you should be aware of. Before using the Forex broker, you should check its features and services first. That way, you will know what to expect during the trading process. Let`s have a look at some Forex brokers along with their pros and cons. Maybe you will choose one of them for a long-term trading adventure!

Avatrade

Avatrade

AvaTrade is an online Forex and CFD trading broker that provides trading services of more than 250 tools including forex, cryptocurrency, stocks, commodities, indices, precious metals, ETFs, CFDs and some others. Since 2006, the major has established the offices in Dublin, Milan, New York, Sydney and Tokyo. The strong side of this Forex broker is a wide range of automated trading platforms with EA compatibility, effective trading, and high-profit percentage. Traders have the option of using the AvaTrade through MultiCharts or MT4 trading platforms. As an officially licensed forex broker, AvaTrade keeps all data of its clients properly secured. At the same time, it managed to provide adequate customer care service and low spreads to forex traders.

Pros:

  • Easy to use forex trading platform offering a tab navigation breakdown data with simplified data interpretation;
  • Comprehensive educational materials that help forex trader’s trade properly;
  • Special rewards and bonuses offered to forex traders;
  • Being properly administered and featuring optimum safety for trading operations;
  • Efficient customer support via email, telephone, and live chart;
  • Availability in foreign languages such as English, Chinese, French, Russian, Spanish, Arabic, German, Hungarian, Italian, Japanese, Portuguese, Swedish and Turkish, and so on;
  • Fast and simple deposit and withdrawal options.;
  • Fast trade execution system.

Cons:

  • Broker’s unsuitability to traders having a lack of experience on the Forex market.

Binary.com

Binary.com

Binary.com is considered to be one of the most trusted binary option in the Forex world. It has been developed and administered by team of professional and well experienced financial and trading specialists who know how to deliver perfect services to their clients. Professional traders get access to the Bonary.com order book, where they are free to explore the markets within the boundaries of equity and margin requirements. With Binary.com, you will benefit from the rate of return similar to traders that are operating on interbank. The high responsiveness of this Forex broker is mainly reached through the online website that does not require any form of downloading or installation. What you should do is to access the website with the browser on your device.

Pros:

  • Excellent safety policies, multiple payment options, fast and simple money withdrawal;
  • Up to 100% return on both increase and decrease of trades;
  • Over one million different trades along with the other rewards and bonuses.

Cons:

  • No registration bonuses and lack of rewards to newcomers;

LMAX

LMAX

LMAX Exchange is a UK broker offering trading options of Forex, Spot Gold, Spot Sliver, index and commodity CFD. Being administered by the FCA it offers a convenient and safe environment for those who want to make online investments. Over the last several years, the broker won a number of rewards praising its trades and customer services. The broker is known for its unique vision for global FX trades, which are to be transparent and neutral. This level of a playing field is offered to all market participants. LMAX Exchange online accounts are split into Professional and Institutional accounts when the minimum deposit of $1000 is required. As you can guess, the use of this online broker can hardly be afforded by a newcomer. A particular level of proficiency and experience in the Forex trades is necessary. By positioning itself as a multi-functional browser based trading website with advanced charting capabilities, LMAX Exchange is equipped with Multicharts focusing on the needs of the professional traders. LMAX Exchange provides clients with a possibility to use platforms as a data-feed that accepts professional traders directly from the platform. MT4 is available for download as soon as a client’s personal data and account are verified. Other significant features of LMAX Exchange include a listing of news and events, blogs and an economic planner.

Pros:

  • 24-hour customer support via phone and email;
  • Live chat option available 24/7 for emergency inquiries and technical issues;
  • Proper regulation by the authoritative bodies;
  • Offering a sizable amount of markets to trade;
  • Availability of tight spreads and quality resources.

Cons:

  • Obligatory minimum deposit which is higher than the average one;
  • Non-acceptance of U.S. clients.