Best fx companies

With a trading volume of over $5 trillion per day, the foreign exchange market, also called forex or FX, is the world's largest market.

No deposit forex bonuses

Top 10 Forex Brokers in the UK (FXCM, GCAP), best fx companies.

The size and deep liquidity of the forex market, along with 24-hour trading, five days a week, make it an appealing choice for traders. The following 10 financial conduct authority (FCA)-regulated forex brokers, listed in no particular order, are chosen based on factors including financial stability, execution quality, and trading platforms available. When choosing among them, one might consider preferences such as markets available, execution software, and the competitiveness of spreads.

Top 10 forex brokers in the UK (FXCM, GCAP)

With a trading volume of over $5 trillion per day, the foreign exchange market, also called forex or FX, is the world's largest market. The size and deep liquidity of the forex market, along with 24-hour trading, five days a week, make it an appealing choice for traders.

Top 10 brokers

The following 10 financial conduct authority (FCA)-regulated forex brokers, listed in no particular order, are chosen based on factors including financial stability, execution quality, and trading platforms available. When choosing among them, one might consider preferences such as markets available, execution software, and the competitiveness of spreads.

OANDA: the canadian-based foreign exchange company offers competitive spreads, as low as 1.2 pips in EUR/USD. Along with their own fxtrade platform launched in 2001, oanda offers metatrader 4.

Interactive brokers: greenwich, conn.-based interactive brokers offer direct access to interbank forex quotes and operate using an electronic communication network (ECN) market structure.

City index: established in the UK in 1983, city index offers forex trading, along with CFD's and spread betting. The metatrader 4 platform is available with added tools and features.

FOREX.Com: owned by parent company GAIN capital (NYSE: GCAP). Operating since 2001, FOREX.Com was a first mover in bringing currency markets to the retail trader.

FXCM: exchange-listed FXCM (NYSE: FXCM) offers a no dealing desk model along with competitive spreads. The firm offers trading in a wide variety of currencies including the chinese yuan.

The most popular and highly rated brokerages licensed in the UK are not physically based there.

Fxpro: founded in 2006, london-based fxpro is an online broker offering forex trading along with CFD's. Metatrader 4 and ctrader trading platforms are available.

IG markets: founded in 1974 as a spread betting business under the name IG index. The firm offers trading in pairs including EUR/USD, AUD/USD, and USD/JPY with spreads as low as 0.8 pips.

Alpari:alpari has over a million customers and is one of the largest forex brokers in the world. Traders can choose from eight different methods to fund their accounts, so getting started is easy. Mobile and web platforms (metatrader 4 & 5), provide traders with the ability to trade on the go.

Activtrades: established in 2001, activetrades offers forex trading in mini and micro lots, a diverse product offering, and competitive spreads.

HY markets: in business for 30 years, HY markets provides multiple trading platforms and a wide variety of trading instruments. HY markets a division of the henyep group, a global conglomerate with a presence in 20 countries.

HYCM:HYCM (henyep group) is well known as one of the top forex brokers in the world. With over 40 years of experience in the business, this broker processes over 25,000 orders every day and has over 20 years of FCA oversight in the U.K.

The bottom line

Among the leading FCA-regulated forex brokers in the UK, the majority are actually based abroad. In many cases, this means that they are also regulated by other bodies, such as the national futures association (NFA) in the united states. While the retail forex industry continues to develop and improve, traders must remain vigilant in scrutinizing where they place their funds for investment.

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Top and The Best FCA UK Regulated forex brokers

As the currency market is a decentralized entity, trading and processing of orders are carried out online. It is, therefore, necessary that you open an account with a broker that provides an online platform for trading forex. If you are a UK resident, then it is a good idea that you work with a forex broker that is based in the UK or at least has an office operating in the country. However, the problem is that there are a number of forex brokers out there in the market and identifying the right one to work with can be a challenging task, especially if you are new to forex trading.

Top UK forex trading brokers 2021

min deposit	spread	leverage	regulation	open account
$5	from 0.2 pips	500:1	FSA (saint vincent and the grenadines), cysec	visit broker
$5	from 0 pips	888:1 “*this leverage does not apply to all the entities of XM group.”	ASIC, cysec, IFSC belize	visit broker
$1	from 0 pips	2000:1	FCA UK, cysec, FSP, bafin, CRFIN	visit broker
$100	starting 0 pips	up to 400:1	FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
$300	floating, from 0 pips	500:1	FCA UK reference number 579202	visit broker
$200	starting 0 pips	500:1	ASIC australia, FCA UK	visit broker
no minimum deposit	1.2 pips	50:1	CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
$100	starting 0 pips	up to 500:1	FCA UK, ASIC australia, MAS singapore	visit broker
$1	fixed spread from 3 pips	up to 1:1000	CBR, cysec and FFMS	visit broker
$250	as low as 0.1 pips	up to 400:1	ASIC australia and FCA UK	visit broker

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.

This is where our services can be of great help to you. We have analyzed and reviewed the operations of some of the major brokers that provide the forex trading platform in the UK on the basis of certain specific criteria listed below in order to make things easier for you. You can use this as the starting point of your research. You don’t have waste your precious time or hard earned money in order to evaluate hundreds of brokers operating in the country. You just have to find out as to which of the forex brokers listed in our site are best suited to your needs and do further research to make sure that you are making the right choice.

Regulation by a local authority is one of the key aspects you need to look for when identifying the best forex brokers in the UK. The main regulatory authority in england is the financial conduct authority (FCA). The FCA is the regulator for the industries in the financial services sector in the country. When reviewing the forex brokers operating in the country we have taken this aspect into consideration.

Apart from regulation, other aspects to be considered when choosing best forex brokers in UK are as follows:

Whether the company that provides the forex trading platform is adequately capitalized or not

How reliable are the trading platforms offered by the forex broker

What type of broker is the forex trading platform provider: non dealing desk (straight through processing), dealing desk (market maker/dealer) or electronic communications network (ECN)

What types of accounts does the forex broker offer

How much leverage and margin does the forex broker offer

What kind of spreads does the broker provide

Does the broker charge any commissions or fees for the trades executed by the you

How much money has to be deposited initially in order to start trading currencies on the broker’s platform

When it comes to transferring funds what currency options does the broker make available to you

What payment methods does the broker offer

What are the broker’s terms and conditions for withdrawal of funds

How responsive is the customer support services provided by the forex broker

This is definitely not an exhaustive list of things that you should look into when choosing the best forex broker in the UK. There are a few other aspects as well. These include customizations options, order entry types, automated trading options, trading alerts, strategy builders and backtesting options, among others. Further, it is better to look for brokers that offer free demo accounts so that you can try out their platforms prior to opening an account and funding it.

Here are some of the best forex brokers in UK:

1. Fxopen UK

Fxopen UK, a popular metatrader ecn forex broker in the UK, offers several helpful features on their platform including expert advisors, technical analysis tools, indicators and professional graphics. Founded in 2013 and headquartered in the london UK, fxopen is authorised and regulated by the financial conduct authority under FCA firm reference number 579202. FX OPEN UK accepts traders with minimum deposit required to start trading on their platform is $300 and the minimum lot size offered by the broker is 0.01. The forex broker offers leverage up to 500:1 and makes available floating spreads starting from 0 pips. When it comes to trading platforms, fxopen offers a wide range of platforms including metatrader 4, webtrader and mobile trading platform. As regards transfer of funds, options available with fxopen include wire transfer, credit/debit cards, neteller and skrill moneybookers, payza and webmoney.

2. Plus500 UK

The online forex broker plus500 UK ltd is authorized as well as regulated by the financial conduct authority. The forex broker services both institutional customers and retail investors and offers no dealing desk currency trading facility. PLUS500 UK which has its headquarters located in the UK was founded in 2008. Traders have to deposit a minimum of €100 if they want to use the broker’s platform for trading forex. The minimum position size offered by the company 0.01 and the leverage that traders can avail is 294:1. Spreads can be as low as 0.01%” (0.01% = spread for EUR/USD). Plus500 offers multiple trading platforms such as windows trader, webtrader, windows 10, android app, windows phone app & iphone app/ipad app/apple watch app. Payment options offered by the forex broker include credit card, paypal, wire transfer, skrill moneybookers.

XM, an online currency trading platform provider, was founded in 2009. The forex broker offers metatrader trading platform and more than 100 instruments from asset classes such as currencies, cfds on stocks and precious metals. XM which serves both institutional as well as retail customers in more than 196 countries has established over 4 offices around the world. Traders who open accounts on their platform will have to deposit a minimum of $5 in order to start trading. While the minimum position size offered is 0.01, the leverage can go up to 888:1. Xemarkets is regulated broker by ASIC australia, cysec, FCA (UK), bafin. XM broker offers low spreads from 1 pips. Multiple forex platforms offered by the broker include metatrader 4, and web, iphone/ipad and mobile trader. When it comes to payments, options include credit/ debit card, bank wire transfer, local bank transfer, neteller, moneybookers skrill, western union, moneygram, webmoney, china unionpay, SOFORT, ideal.

5 benefits of forex trading with FCA UK regulated brokers

Any forex trader will tell you that the first and most important step in successful forex trading is choosing a trusted broker.

The right broker will provide you with the required advice, and platform to make forex trading a profitable venture. FCA UK forex brokers are the best option to give you what you need before you can start trading. But who are FCA UK forex brokers?

FCA UK forex brokers are brokers or brokerage firms that are regulated by the FCA. These firms meet all the requirements set by the FCA for safe forex trading.

The FCA UK forex brokers provide forex traders with many benefits, here are some of them;

1. Guaranteed credibility

All forex brokers that are regulated by the financial conduct authority (FCA) are required to submit financial reports to the regulatory body. This body scrutinizes the reports to make sure they are in line with set policies for secure and efficient forex trading. This, therefore, means that regulated brokers are always credible since they are monitored. Also, another role of FCA is to fairly resolve disputes between forex traders and brokers. So, trading with FCA UK forex brokers means that you are protected in case any disputes arise between you and your forex broker.

2. Ensure investors’ money is safe

According to the FCA rules, FCA UK forex brokerage firms must keep their funds separate from the investors’ money. Keeping investors funds in a different account ensures that the brokerage firm cannot use the clients’ funds to cover any of its expenses.

Having segregated accounts safeguards the investors’ money in case of a financial crisis or bankruptcy. In such scenarios, the broker cannot use your money to pay its creditors. The FCA requires that the broker compensates the investor first. So when working with a regulated broker you are guaranteed safety for your money despite any financial situation the broker might face.

Given the uncertain financial conditions, you have to be sure your money is always safe. FCA has got you covered! Time and again, the regulatory body reviews all the FCA UK forex brokerage firms to ensure they maintain separate accounts for investors and the firm to keep your money protected from uncertain market conditions.

3. Enhances the chances of making profits for investors

It is usually easier to trade and make profits with FCA UK forex brokers than unregulated brokers. FCA monitors all regulated brokers to ensure they provide the right tools to make forex trading simpler for the investors. It does this by ensuring the software used by brokers for trading meets the traders’ needs.

In addition, it ensures that forex traders have access to the right information and support from the brokers. The FCA UK forex brokers should be able to answer the investors’ questions and provide help in case of any difficulties. This is in a bid to make forex trading easy and profitable to the traders.

4. Transparency in trading operations

Transparency is an essential part of successful forex trading. Investors have to stay informed about their transactions by being provided with accurate financial information including historical records and other fiscal reports. This information assists traders in making well-thought decisions when conducting their trade.

It is the responsibility of brokers to provide accurate information to the traders. Regulated brokers are compelled by the FCA to provide accurate information to investors failure to which they might lose their licenses.

Investors can complain to the FCA if they feel their brokers do not provide them with transparent trading experience.

5. Protects the value of security to enhance the investors’ safety

The FCA monitors forex brokers UK by periodically checking their fiscal reports. Through these reports, the regulatory body can determine whether a broker is trading in a way that increases the overall security of their investors. The FCA then penalizes, and in some cases revokes the market membership of brokers whose trading activities decreases investor security. So in order to stay in the market, regulated brokers are always working hard to improve their investors’ security.

If you are an investor who wants to make your forex trading venture profitable then it is safe to go for FCA UK forex brokers as they are regulated. Regulated brokers provide you with many benefits and the right conditions necessary to trade successfully. All the best in finding the right broker!

Top 10 forex brokers and trading platforms to trade online

Forex is a portmanteau word consisted of the words foreign exchange and forex trading signifies the trading of currencies. Currency trade has existed for many centuries, even millennia, in fact it can be said that it is as old as money and trading in general. The international forex market is massive, in fact, it is the largest market in the world in terms of volume of trading. Currency trading is essential for international businesses and forex trading is very useful for companies that import or export products and/services.

Below is information that you will require to know while deciding to go with forex trades at any of the top forex brokers site we have listed out below.

Here you will check out each of the sites that are more popular in currency trades. They have been provided here in addition to the other valuable information which will permit you in making your own decision on the forex broker that you will be making use of the services.

Deposit: $10 leverage: 1000:1

Deposit: $100 leverage: 1:30

Deposit: $50 leverage: 1:1000

What are forex brokers

In the past, only large international financial institutions were allowed to trade currencies, but with the introduction of online forex brokers, i.E. Forex trading platforms, individuals are also given an opportunity to invest and increase their capital by trading currencies. Basically, a forex broker is a company which provides a platform for individuals who like to engage in speculative trading of currencies. This type of forex trading, where individuals get to trade via a platform is also known as ‘retail forex trading’, a term used to distinguish it from the more traditional type of forex trading. Even though it appeared only about 20 years ago, online forex trading is now a huge market and recent reports show that the daily trading turnover in 2016 was over $280 billion. There are numerous forex brokers that offer forex trading services to individuals all over the world.

The basic definition of the word broker is ‘someone who sells products or services on behalf of other people’. And that is pretty much true for forex brokers. They buy and sell currencies on your behalf. Unlike conventional brokers that you’ve surely seen in wall street themed movies, you don’t have to call this brokers and they don’t have to be at a particular place in order to trade.

How to choose a forex broker

There are more than few forex brokers that operate online, in fact there are dozens of them.

Choosing the best online forex broker, isn’t always easy, especially since almost every forex trader seems to be the bets. But, you shouldn’t worry, as there are ways to determine which forex broker is trustworthy and reliable.

Licencing

The legal aspect is primary here. You definitely can’t trust a forex broker which isn’t licensed and regulated. Even if their offer looks good and everything seems appealing, you shouldn’t trust a company that lacks appropriate certification. Different countries have different legislation and standards which are applied to forex brokers and their operations. The first step for every trader is to make sure that the forex broker has the appropriate licence and is completely legal.

Currency pairs

There are multiple currencies in the world, but not all of them have the same reputation and not all of them are equally traded. Typically, the american dollar is one of the most interesting currencies.

In addition to the american dollar, there are 7 other currencies which are rated highly:

Euro (€) – EUR

Pound sterling (£) – GBP

Australian dollar ($) – AUD

New zealand dollar ($) – NZD

Canadian dollar ($) – CAD

Swiss franc (fr) – CHF

Japanese yen (¥) – JPY

A pair consisted of one of the currencies listed above and the USD is called a major. The majors are the most frequently traded pairs and these pairs constitute 85% of the total forex trading on the market. Other, lower-rated currencies are usually paired with the USD and such a pair is called a minor. When a lower-rated currency is paired with the currency other than the US dollar, that pair is called a currency cross, or just a cross.

The number of currency pairs which are offered by a forex brokers is one of the key criteria for establishing the reputation of the brokers. Brokers that offer a larger number of currency pairs should be preferred over ones that offer fewer pairs. Most brokers offer all majors, as well as a number of minors and crosses. If you’re looking to trade a particular pair, then you should definitely check whether the broker in question offers that pair. On the other hand, if you’re looking to trade only the majors, there are other things which you should take into consideration.

Leverage and lot size

Leverage in forex trading is used as a means to provide higher profits which are derived from the changes in the exchange rates of the two respectively paired currencies. In fact, it might be simplest to describe it as a loan provided by the broker to the investor. The leverage may vary, it can be 50:1, 100:1 or even 200:1. Higher leverage provides you with a chance of earning more money through trading, but it also means taking larger risks. Traders that have a higher understanding on the market will be looking for higher leverage.

As you don’t buy the actual currency units, but you actually invest in the expected fluctuation of how two currencies are paired against each other, the traders actually trade larger unit blocks, called lot sizes. A lot size is the number of currency units which are traded. The lot size may be 100, 1,000 or even 10,000 units of the second currency in the pair. It would be wiser to look for a forex broker that offers a variety of lot sizes, including smaller ones which are perfect for traders who are new to forex trading and don’t want to risk large amounts of money.

Market spread

Forex brokers allow you to trade the currency pairs you want and make a profit. The have to make a profit as well, though. Most forex brokers don’t charge any fees, so that you won’t have any initial expenses, but they make their profit through the market spread.

The spread is the difference between the two positions, which are the buy (bid) and the sell (ask) position. Higher spreads allow brokers to make bigger profits, but they are less favourable for the traders.

The spread percentage is very important, and if you’re looking for a forex trader, it would be wise to choose one that offers lower spreads.

Sometimes, forex traders don’t offer the same spread on different currencies. Usually for large currencies, that take are traded more frequently, the spread will be lower, whereas for smaller currencies, and currencies with a larger volatility the spread will be higher.

Trading platforms

We have already mentioned that the emergence of forex trading was enabled by the internet. Forex brokers may offer different sorts of trading platforms, downloadable, web-based and from few years ago mobile trading platforms. It all boils down what is more convenient for you as a trader.

Some mobile apps for example, include only some of the features that are offered in the desktop version, whereas other include more options. Moreover, some forex traders offer more than one platform, and each of them may include different elements. It is best to look for a forex broker that offers both a platform for traders who aren’t very experienced. Those platforms are usually easier to use and a lot more user-friendly.

Payment methods

Forex brokers usually offer their customers more than one payment method that will enable them to fund their trading accounts. Some brokers charge fees on deposits and/or withdrawals, whereas with others no extra fees will be charge, other than the ones applied by the provider of the financial service. The deposit and withdrawal limits may differ. The principle here is simple, the brokers that provide more methods and don’t charge any fees have a definite advantage over those that offer a limited amount of payment methods and charge fees on deposits and withdrawals.

Bonuses, training materials and support

As there is a pretty large competition on the forex broker market and multiple companies provide forex trading to customers all over the world, brokers are looking for ways to attract new customers, while also trying to keep their existing ones.

Bonuses

Training materials

Customer support

These three are also very important parts of the overall offer of every forex broker, in conjunction, of course, with the pairs, leverage and market spread.

The types of bonuses that are offered may vary. Many brokers offer a welcome bonus, where traders get additional funds, on top of the ones that they deposited. Some brokers offer bonus funds even before the traders make their first deposit.

Some traders are new to forex trading and that is why it is only fair for brokers to provide them with the necessary learning materials that will help them improve their understanding of the market fluctuations and forex trading as a whole. Many brokers allow traders to open a demo account, which will allow them to simulate forex trading without any risk of losing real money. In addition, e-books, videos and even webinars on forex trading are also provided.

Customer support is an important aspect for every service industry and forex brokers aren’t excluded. Help is provided via phone, email and live chat and most brokers’ websites have an FAQ section which provides answers to specific questions.

Why trade forex online?

There are many reasons why you should seriously consider placing forex trades online, and if you are new to this environment it can often be something of a confusing forex trading environment at first, as there are many different currencies that can be paired together and lots of different trading platforms to choose from.

However, do remember that if you do decide to trade forex online then at no point in time are you having to actually buy the two currencies you are trading against each other and therefore your costs of becoming a forex trader are massively reduced.

When you chose to trade at any of our top 10 forex brokers you are only going to be placing a trade on which way you think one currency is going to move against another, and as such your leverage is far greater online.

Imagine the fuss and hassle involved with having to first buy one currency, and then if it moves in the direction you want it to then finding somewhere to sell that currency to and then buy the other one! Those days are long gone now and you really are going to be amazed at all of the next generation of forex brokers listed and fully reviewed throughout this website!

The respective financial authorities of every countries provide licences under which forex brokers are allowed to operate and offer their services to citizens of that particular country.

Forex trading is legal in most countries of the world, even if the country doesn’t have a financial authority who issues licences.

Yes, forex brokers are able to offer services outside the country they’re based in. Some countries would require a broker to obtain a licence, others will allow them to operate under a licence issued elsewhere. It really depends on the local laws.

Many forex brokers also offer contract-for- difference (CFD), commodities, as well as stocks and indices and it is possible for traders to use one account for all of them.

They are usually open the whole time, but when it comes to trading, it is offered monday through friday. The starting hour on monday and the closing hour on friday depends on the pair in question.

Most forex brokers have a deposit limit. The specific limit depends on your choice of currency, but usually it isn’t very high.

Licenced forex brokers comply with all financial standards and security measures that are employed by the world’s leading financial institutions. Encryption technology is used to ensure that no third parties will be allowed to access customers’ financial information and the customers’ details are not handed to third parties. Most reliable companies, keep their customers’ trading funds in a separate account, to ensure that they won’t be lost no matter what.

Some forex brokers allow their customers to open multiple trading accounts, but they are advised to use the same personal details for each of them.

Yes, all forex traders require customers to provide identity verification documents, either when they register or when they’re about to make their first withdrawal. Most forex brokers would require you to present a proof of identity and a proof residency, so they can confirm that you are who you claim to be and that you are legally allowed to trade forex.

Yes, there are no legal limits on the number of forex trading accounts that may be opened in your name. As long as you are legally allowed to have one account, you are also able to have as many as you want.

Yes, you can trade any of the forex pairs that are offered by the broker, not just pairs that include your preferred currency/ the currency of your country.

Best forex brokers in nigeria

We compared the best forex brokers in nigeria. If you are a trader from nigeria and want to start forex trading, be smart to avoid financial scams prevalent on african continent and consider trading with CBN regulated forex brokers. Nigerian forex traders should make sure if depositing in nigerian NAIRA currency is allowed by your chosen nigerian forex trading platform! Doing so, can save you future exchange rate fees between USD and NAIRA.

Check the forex brokers nigeria comparison.

�� 5 best forex broker in nigeria

Our handpicked list of regulated forex brokers operating in nigeria.

CM trading – best nigerian forex broker

XM.COM – no deposit bonus & high leverage

Hotforex– best for high leverage & bonuses

Pepperstone – best forex trading platforms

IQ option – best high leverage forex broker

The brokers below represent the best forex brokers for trading in nigeria.

#1 – CM trading ⇒ the best nigerian forex broker

CM trading caters to both beginners and intermediate traders, it is the best all-round forex company ever. Established in 2009 and regulated by FSCA this is one of the go-to brands for “both beginner and also profi FX traders.

Cmtrading.Com is truly one of the top forex brokers in nigeria !

Welcome bonuses for new clients

No requotes & no slippages policy

Variable spreads from 0.9 pips

Maximum leverage up to 1:500

Metatrader 4 (MT4)

Minimum first deposit $200

#2 – XM ⇒ the best forex trading platform

One of the best and most trusted forex brokers in nigeria. Fully regulated. XM is 100% safe and with a robust and stable trading platform that naturally comes with metatrader 4.

Welcome BONUS for new forex traders from nigeria

Zero re-quotes, zero rejections policy

Local depositing methods available for nigerians

Minimum deposit required is just $15

Maximum leverage is 1:888

Metatrader 4

Scalping and hedging is allowed

#3 – IQ option – broker with high leverage

The largest trading platform with intuitive and easy to learn interface is great for all newcomers to trading! Fully regulated by cysec.

Fully regulated, with safe bank accounts, negative balance protection and wide variety of assets is the best option for starting out in the world of online trading.

High leverage 1:1000

Local depositing methods available for nigerians

48 currency pairs

Large range of stocks

15 crypto currencies

Minimum first deposit $5

Is forex trading legal in nigeria ?

Yes forex trading is legal in nigeria. With the rapidly growing nigerian economy, it was no wonder that the nigerian forex market has witnessed rapid growth during the past decade, as more and more middle class nigerians have been joining the fx market. This boom has led to many scams and fraud taking place. The national watchdog has been therefore cracking down on unregulated scam forex brokers who promise riches to newbies since the past few years. The fx industry in nigeria now tries hard to regain its good reputation.

History of forex trading in nigeria

The boom in forex currency trading has begun in mid 2000’s and by now there are around 300 thousand retail forex traders in nigeria according to financemagnates.Com resource. Thanks to low barriers of entry (low minimum deposits + high leverage trading + free trading platforms) more and more middle class people can now afford to invest this way.

We strongly urge you to start trading only with regulated fx brokers! You may choose either some of our world renowned brokers with regulation in UK, cyprus OR go with some local nigerian CBN regulated forex broker.

Nigeria forex trading regulation

Central bank of nigeria (www.Cbn.Gov.Ng) shortly just CBN is the main regulatory body which controls the capital markets including forex companies.

How to choose the right fx broker as a nigerian trader

African continent, especially nigeria is well known for a widespread forex scam. It is therefore important to protect your hard earned cash from fake forex gurus, crypto scam, ponzi schemes, get rich quick schemes and various con artists. Do yourself a favor and deposit your hard earned money only into the safe forex trading platform! Don’t trust anyone who’s telling you they will share with you forex secrets!

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International money transfer index (IMTI)

The fxcompared international money transfer index tm (IMTI tm ) provides a measure of the cost of international bank-to-bank money transfer from australia, canada, france, germany, spain, the UK and US. Started in early 2015, the IMTI tm is well established in the sector. Moving forward, FXC intelligence provides a real-time dashboard of compiled data from across the industry for an even deeper and cleaner view of the world of money transfers.

Who users the IMTI tm
banks, money transfer providers, payments companies, credit card companies, federal reserve banks, corporates, consultancies.

"new index promises greater foreign exchange transparency"
— forbes

"the first detailed study of the market"
— reuters

Websites such as fxcompared.Com also now ensure that the best rate can be found for any deal within seconds.

The whole process including my transaction was completed within two days and at a better rate than i could achieve elsewhere and with all the transfer fees included.

You can compare the costs of all ways of sending money abroad on fxcompared.Com, a website set up with government support that is an invaluable tool.

Money transfer tools

Money transfer comparison tool

Make the best money transfer choices before you send money internationally with fxcompared. Users can compare money transfer companies by choosing a destination country, preferred routes and offered currency rates

Currency volatility tool

Our easy to use currency volatility tool can help you or your business assess your currency risk exposure across multiple international markets.

Currency analysis tool

Examine the past performance of your company's FX strategy with our currency analysis tool and see what saving you might have made.

International money transfer guides

Everything you need to know about currency cards

A prepaid currency card is a safe and convenient way to carry your vacation money, but it is important to know all the pros and cons of using a currency card.

Currency codes and symbols

Studying abroad save up to £40,000 by careful selection of university and money transfer providers.

Improve job prospects and save up to £40,000 over the life of an undergraduate degree through studying abroad, with careful selection of university and money transfer providers

And more guides.

Expats — A visa isn't the only thing you'll need to take care of. Learn about your options for sending money from one account to the next.

Pensions— did you retire to a different country with a lower cost of living? A little extra research can help ensure you get the most out of your pension.

Art— did you fall in love with an artist’s work at a foreign gallery? Or maybe you won a coveted piece at auction. Offset the cost of hiring a professional art handler to ship your art by getting a competitive exchange rate on your international transfer.

Why use fxcompared

Get the best value

Find and secure better rates than your bank, no fee options available in most cases

Safety, secure

Only registered companies listed. Segregated client accounts. Independent company reviews.

Global coverage

Over $1.7bn transferred. Countries covered 126. Currency pair research.

Compare the best international money transfer companies

We've done all the hard work to find the best money transfer companies from around the world so you can save up to 90% on fees and charges versus using your bank.

FX expertise and experience

Daniel webber

International money transfer reviews

Money transfers latest news

OANDA FX and currencycloud to work together on B2B transfers

Corporate cross-border payments provider currencycloud has announced a collaboration with a premier internet-based foreign exchange provider.

Visa and transferwise reveal new worldwide collaboration

One of the most prominent financial services firms in the world has confirmed a worldwide pairing with online money transfer provider transferwise.

Xpate reveals new hires following strong growth

An online money transfer company from britain has announced a wide range of new hires at leadership level after a year of successful growth.

USI money to boost its affiliate scheme

Cross-border payments provider USI money has confirmed that it will boost its affiliate programme following a strong trial period.

Quick links

FXC intelligence

FX and international payments pricing data

All pay-in and pay-out method

Banks & payment company coverage

Transfer amounts from 10 USD

Hourly, daily, weekly and monthly frequency

. Plus card pricing data, newsletters and research to take your tools to the next level!

2019-2024 money transfer report & forecast

Fxcompared's 2019-2024 report and forecast is an in-depth analysis of these important topics:

Stock market performance of the leading money transfer players

Cross-border payments M&A trends

Fintech fundraising in the money transfer market

Transferwise pricing

Paypal push in cross-border payments

US neobanks and their money transfer offerings

Blockchain developments in international payments

Cross-border payments market update

. And much more!

Money transfer report and forecasts 2019-2024

Money transfer industry report 2018

Money transfer industry update 2018 - part 2

How to transfer money abroad

Popular destinations

Popular transfer routes

International money transfer index (IMTI)

Who users the IMTI tm
banks, money transfer providers, payments companies, credit card companies, federal reserve banks, corporates, consultancies.

"new index promises greater foreign exchange transparency"
— forbes

"the first detailed study of the market"
— reuters

Websites such as fxcompared.Com also now ensure that the best rate can be found for any deal within seconds.

The whole process including my transaction was completed within two days and at a better rate than i could achieve elsewhere and with all the transfer fees included.

You can compare the costs of all ways of sending money abroad on fxcompared.Com, a website set up with government support that is an invaluable tool.

Money transfer tools

Money transfer comparison tool

Currency volatility tool

Our easy to use currency volatility tool can help you or your business assess your currency risk exposure across multiple international markets.

Currency analysis tool

Examine the past performance of your company's FX strategy with our currency analysis tool and see what saving you might have made.

International money transfer guides

Everything you need to know about currency cards

A prepaid currency card is a safe and convenient way to carry your vacation money, but it is important to know all the pros and cons of using a currency card.

Currency codes and symbols

Studying abroad save up to £40,000 by careful selection of university and money transfer providers.

Improve job prospects and save up to £40,000 over the life of an undergraduate degree through studying abroad, with careful selection of university and money transfer providers

And more guides.

Expats — A visa isn't the only thing you'll need to take care of. Learn about your options for sending money from one account to the next.

Pensions— did you retire to a different country with a lower cost of living? A little extra research can help ensure you get the most out of your pension.

Why use fxcompared

Get the best value

Find and secure better rates than your bank, no fee options available in most cases

Safety, secure

Only registered companies listed. Segregated client accounts. Independent company reviews.

Global coverage

Over $1.7bn transferred. Countries covered 126. Currency pair research.

Best forex brokers for 2021

Brokerage companies are scattered all over the world and have many differences in trading conditions, products and services. Some companies are regulated, others are not. Some have been around for decades, others are rather young. Certain brokers work as market makers and have fixed spreads, others provide STP or ECN accounts with direct market access and offer a much larger selection of underlying assets for trading. This site was created to help you find the best forex brokers for your specific needs and requirements. There are several sections and filters in the menu on the left. These can be used to create a custom list of entities with preferable parameters and characteristics. If you find a certain broker you are currently trading with or have used before, feel free to share your experience about it in the comments section meant for forex broker reviews.

The forex brokerage business has undergone a lot of evolution in the last decade. The global financial crisis of 2008 and the events that happened thereafter have reshaped the industry. At about the same time, new technologies came up and also contributed to the evolution of the forex market and forex brokerage business. It is important for traders to understand what forex brokerage is all about and how it will affect their trading ventures. Before we get to meet the best forex brokers for 2021, it is pertinent to identify the role that forex brokers play in a trader’s career and why it is important to go with a forex broker that can match your circumstances and aspirations.

Role of forex brokers

Forex brokers have several roles to play in the market. These roles have also evolved over time, as traders demand a lot more from their trading providers. Forex companies now perform the following roles:

A) access to the market

This is the core role of the forex broker. The forex market is a virtual market with no physical location. At the centre of forex market operations is the interbank market, where the big banks offer various currency pairs for sale. Professional and individual traders therefore do not have to proceed to a physical location to trade, but rather have to have a means of accessing the interbank market. They can only gain access to the interbank forex market using software known as platforms. These platforms are provided by the forex brokers. So without the brokers, nobody can get access to the forex interbank market to trade.

Access can be provided directly using the ECN/STP platforms (also known as direct market access platforms), or indirectly using the market maker platforms that route orders to the broker’s dealing desk. Traders should as much as possible, try to understand the implications of getting direct access to the FX market on one hand, and getting indirect access on the other. The type of access granted will determine factors such as amount of capital to start with, as well as the trading styles and processes to be adopted.

B) trader education

This is gradually but surely becoming a very important element of the forex broker’s functions. Research has shown that 90% of retail traders will lose 90% of their accounts in 90 days. This is a well-established market statistic. Majority of the losing traders (if not all) are traders who are uneducated about the market and who do not understand how to trade profitably. These will end falling by the wayside. No broker wants to spend money acquiring clients, only to have them quit the market after decimating their accounts in 90 days. With brokers realizing that such an arrangement is not good for business in the long run, many of them are now investing significantly into trader education. Videos, articles and webinars are the common means by which beginner traders are given an introduction into the forex market.

C) market research

Once traders get established on the platforms using trader educational resources, their trading activities can be sustained via the provision of market research tools, analysis and news feeds. Many brokers have incorporated this into their offerings as well. For the trader, this is a good thing.

Criteria to consider in choosing a forex broker

The criteria for choosing a forex broker have evolved over the years. While there are still some elements that are critical to the choice and which have remained constant over time, there are other parameters which have emerged and which will be considered below.

1. Spreads/commissions

Spreads are the primary cost to the trader. Lower costs mean that the trader will have a chance to retain more profits, or at least reduce the losses that may be incurred. Competitive spreads are now a factor used in broker selection. It may not be immediately obvious how much savings on spreads can translate to, but high volume traders such as scalpers know that when up to 300 trades are placed in a month, then savings from reduced spreads can be substantial.

2. Leverage

Leverage in forex is now a big deal. What started off in 2010 when leverage caps were introduced in the US by the commodities and futures trading commission (CFTC), has now been extended into the united kingdom and europe. Retail traders in the UK and EU have seen leverage caps reduced from as high as 1:500, to just 1:30 for major forex pairs. Minor pairs and cfds have even tighter leverage limits. This has increased margin requirements significantly. However, some brokers outside these jurisdictions have continued to maintain the high leverages, thus attracting traders who were caught out by ESMA’s decision. Some of the UK/EU brokers have also opened international divisions, where their international client accounts are being migrated to. So traders now have a choice of operating with the low leverage brokers, or the high leverage ones.

3. Regulation

Regulation will continue to remain a key factor in broker selection. Regulation ensures that traders are protected and that the trading environment is transparent and secure. The brokers presented on this site are regulated in their respective areas of operation, which ensures that traders who open accounts with them are assured of safety of their funds.

4. Broker type

A mention has earlier been made about direct and indirect access to the interbank market. As a trader, you need to know how each type of access will affect you. Market makers provide indirect access because they buy positions from the interbank market and resell them to their clients using a dealing desk. Market makers usually require smaller amounts of starting capital, provide fixed spreads, and tend to have more slippages and requotes. They provide a low barrier for market entry.

ECN brokers on the other hand, provide direct market access. They require large amounts as initial capital, provide variable spreads, but do not have slippages and requotes. However, they charge commissions on trades in addition to spreads. At the end of the day, the trader’s financial capacity will determine if a market maker or an ECN broker will be selected for the trading venture.

5. Trading resources

Trading resources are generally tools that are provided by a broker to enhance the trading experience and potentially improve a trader’s trading outcomes. More is not always better. In this case, it is about finding the broker that has the right mix of trading resources that cover analysis, news and market insight.

6. Customer support

Customer support can now be offered using a variety of means that were not in existence 10 years ago. Social media channels such as facebook and twitter, as well as messaging apps such as telegram can now serve as channels for receiving near-immediate responses from a broker’s customer support desk. Choose a broker with a diversified customer support structure which deploys these new means of communication.

Our list of forex brokers

The list below features best forex brokers selected by us for 2021 year. This list has been prepared after due consideration of all the factors mentioned above. In this list, you will find many brokers that are offshore brokerages with high leverage, or offshore divisions of EU/UK brokerages that can provide high leverage trading platforms to their clients. Feel free to read our forex broker reviews and make an informed choice based on the contents of this website.

Best forex brokers for 2021

Role of forex brokers

A) access to the market

B) trader education

C) market research

Criteria to consider in choosing a forex broker

1. Spreads/commissions

2. Leverage

3. Regulation

4. Broker type

5. Trading resources

6. Customer support

Our list of forex brokers

Most valuable companies in the world - 2021

Today's article is about the top 10 of the most valuable companies in the world.

The rating is based on market capitalization. It is calculated by multiplying the number of shares issued by the company by the value of one such share.

The data in the article is relevant as of 11 january 2020.

By the way, if you look at the rating of the most expensive stock, it will differ significantly from this one.

TOP 10 most valuable companies in the world

Saudi aramco

Industry: oil and gas production, refining.
Products: oil, natural gas and other petrochemical products.

After the successful issue of shares on the stock exchange, saudi aramco (saudi arabian oil company) became the most expensive company in the world. It has officially published its financial statements first in 2019. Shortly after the release of the shares on the tadawul stock exchange, the company's value almost reached 1.9 trillion dollars.

The oil giant has exceeded all expectations with the issued shares: its IPO is considered one of the most successful in history.

They say that saudi aramco is going to use almost all the profits for various mergers, purchases, and expansion of its influence in the world.

In particular, the company intends to become a leader in the production of liquefied natural gas.

Today, saudi aramco is considered one of the world's leaders in oil production and reserves.

SA already has branches and subsidiaries in china, japan, russia, the united arab emirates, the USA, great britain, and other countries. The company also collaborates with lukoil, royal dutch shell, total SA, sinopec, and others.

Today, the company is owned by the saudi arabian government. The main office is located in dahran.

Apple inc.

Industry: electronics, information technology.
Products: personal computers and tablets, mobile phones, audio players…

For a long time, apple was the most valuable company in the world. But due to the situation with the disappointing iphone sales, it lost its primacy. Yet the situation is much better now: the company is winning its positions back. Today, apple is the third in terms of market capitalization.

At the same time, the company continues to occupy the first position at the most expensive brands' list.

Today the company logo is recognized by many people as apple became truly the most successful brand. Its value is estimated at $1,286 billion by experts from rating agencies.

The company was established on 1 april 1976 by steve wozniak, ronald wayne, and steve jobs. The trio initially engaged in the assembly of home computers and producing proprietary models of PC. But their greatest success came just in recent years when apple introduced the line of its mobile products to the world — the iphone smartphones and the ipad tablets.

Nowadays, the range of its products is wide and includes smartwatches, computers and laptops, tablets and smartphones, and more. However, the hallmark of "apple" gadgets' popularity is high quality, stylish design, and a brilliant marketing program by steve jobs.

Today the company has thousands of offices, brand stores, and service centers worldwide with a staff of nearly 132,000 employees.

Apple is headquartered in cupertino, california, USA.

Microsoft

Industry: software development.
Products: microsoft office, microsoft windows, xbox.

The second most valuable company in the world is microsoft.

The internationally famous corporation was founded in 1975 by bill gates, who is one of the richest men in the world by now.

At that time, microsoft was the first software developer that suggested using packaged software for home computers that would thereby make PC experience user-friendly and intuitive.

This software – the microsoft windows operating system – was a real breakthrough since it allowed ordinary users to master PC skills easily. The system brought the company an incredible success and huge profits.

Today, microsoft is one of the leading companies in the PC software market as well. It releases new-generation windows operating systems, a set of applications to work with documents called microsoft office, and many other software programs. Besides, microsoft produces its own mobile devices and accessories, video, audio, and office equipment.

The company is headquartered in redmond, washington, USA.

Amazon inc.

Industry: retail business.

On january 7, 2019, amazon became the most expensive company in the world for the first time overtaking its competitor — microsoft. Today, it ranks fourth in the list of the most valuable companies.

Amazon is an american retail company that sells and delivers various goods over the internet.

Internet users, suppliers, and producers can sell any goods on their own by using amazon’s website as an online venue.

The company’s major business line is selling various. The popularity of service soared thanks to high-quality goods, low prices, prompt delivery, and a wide assortment.

The company was established in 1994 by jeff bezos. Amazon is headquartered in seattle, WA, USA.

According to the overall estimates, the company employs about 647,500 and has more than $162 billion in assets at the given moment. Its annual turnover amounts to approximately $232 billion.

Delta electronics (thailand)

Industry: electronics and automation.

Delta electronics (thailand) public company limited is a subsidiary of delta electronics inc. It focuses on the manufacture of electronic products that include various power supplies, industrial and construction automation systems, infrastructure for alternative energy and electric transport, and much more.

The parent company was founded in 1971 and a regional office in thailand was established in 1988. And now, in terms of market capitalization, the subsidiary is aiming to become the most valuable company in the world.

The president of the thai company is currently mr chang tsai-hsinh (jackie).

Alphabet inc.

Industry: internet.

Google, the internationally famous internet company, recently changed its official name to alphabet because the company was out of the scope of google search engine long ago, and now it owns plenty of other companies as well.

Sergey brin and larry page, who jointly created the mega-company in 1998, are the heads of the internet holding.

More than thirty popular services and sub-companies are part of the holding: adwords, android, youtube, to name a few. Google is headquartered in california.

Tesla, inc.

Industry: automotive and solar energy.

Tesla is the world's largest electric vehicle manufacturer, which also produces solar panels and batteries. At the end of 2020, tesla and 27 other US companies formed the zero emission transport association (ZETA), which will promote the transition of all US vehicles to electric traction. The company currently has several electric vehicle models, including a sedan, crossover, roadster, and even a large truck for cargo.

Tesla was founded in 2003 by martin eberhard and mark tarpenning, and elon musk became the main investor of the company and the chairman of the board of directors only in 2004. Although musk was not the founder of the startup, he was the one to help the company achieve such heights and worldwide fame.

Tesla is headquartered in palo alto, california, USA.

Facebook

Industry: internet.

Facebook was developed by mark zuckerberg in february 2004. The facebook social network is currently visited by more than 2 billion people every day. And the market value of $584 billion is simply an astronomical indicator of popularity for an internet project.

Today, facebook yields more than $22 billion net yearly profit due to online advertising. Moreover, the company is a leader in this TOP 10 list in terms of profitability, since its net profit increased by 54% within the past year alone.

Facebook is headquartered in menlo park, california, USA.

Tencent

Industry: internet.
Products: social networking, instant messaging, mass media, web portals, etc.

Tencent is a venture company, a conglomerate, an investment holding, and one of the largest companies in the gaming industry.

This chinese giant, founded in 1998, occupies the 9th position in the ranking of the most expensive companies worldwide.

Its services include social networks, mobile games, music, web portals, payment systems, e-commerce, internet services, smartphones, and multiplayer online games, which are among the largest and most successful in the world in their respective categories.

The headquarter of tencent seafront towers (also known as tencent binhai mansion) is located in nanshan district, shenzhen.

So, let's see, what we have: learn about the regulation of the foreign exchange market (forex), the financial conduct authority (FCA), and the top 10 UK brokers that are FCA regulated. At best fx companies