To start with, I know that most of those who know the abbreviation FX will tell me that they have their own favourite site to work with. In my case, I prefer to consult https://topbrokers.com/forex-brokers. No, it’s not an «advertising mode on». Ask any person involved in FX business, he or she uses various sorts of collecting and analyzing information on the rates and their changes. It’s important to find your best match (yes, FX and love affairs are somehow connected). Every FX player must analyze the whole bunch of information and where to get it if not from the profile resources on the Internet, right? Regular updates are necessary too for situation may drastically change every minute. So, this is what I want to discuss today, the update in the chart of Forex brokers showed us some new leading FX dealers. I always pay much attention to that aspect in particular. Many traders choose ATS as their companion but that’s not for me. Call me an old-fashioned guy but I prefer to contact with an existing broker rather than rely on a machine’s calculations. It’s because I like personal control of my assets and if I fail, I know who to blame then. Alright, let’s come back to the update I’ve already mentioned.
The list of top Forex brokers in 2018
According to the chart posted on Topbrokers, the first three positions are occupied by the following dealers.
• XM.com
• Forex.com
• FXTM
Each of these three dealers has been on the market for a long period of time and knows much about FX trading. You can have a closer look at all features offered by the brokers on the site, as for my own opinion, I’d rather choose Forex.com as a potential dealer for both amateurs and experienced FX players. It’s the oldest company of the three and has various trading instruments. At the same time, it’s tolerant to the USA traders unlike some other dealers. Though I am sure that most of newcomers will apply to XM.com for their 100 % bonus deposit looks really tempting. FXTM has the largest leverage of the three but sometimes it might be as profitable as dangerous. I wouldn’t recommend to take it for amateurs. Other brokers are more or less alike, the fact that they are lower than those three doesn’t mean that they are bad. So, seek and ye shall find.
Some hints for potential top brokers
I know that a good broker is nearly half of your success in the FX field. But it would be silly to forget about other components of success. For I see a lot of new players in our favourite FX game, I consider useful to talk about hints that might be worth following if you are an amateur trader.
• It’s impossible to grasp the immensity - this truth is also viable for trading on Forex. One of the most common mistakes of newcomers is the desire to trade in a variety of currency pairs simultaneously. Choose one pair and work on it.
• Excessive desire to earn money leads to greed and excitement, the desire to immediately recoup after each unsuccessful deal. This will lead to neglecting the rules of strategy and result in making ridiculous mistakes that will grow like a snowball, and eventually lead to even greater losses or to the total loss of the entire deposit. It is in cold-bloodedness that the secret of skill of experienced traders.
• While some argue, what kind of market analysis - technical or fundamental - gives the best results, you use the popular wisdom that truth, as always, somewhere in the middle. Use various tools simultaneously - so you can get a more complete picture of the market and be able to make a more accurate forecast.
• Start leading your own diary. The paper one, yes. To understand which currency pair, trading strategy or tactics suits you, you need to evolve a system of your work, and without the diary it’s impossible to do. The secret of a successful FX player is in the proper organization and self-discipline.
• Do you want to learn the basics of Forex trading? Find out which brokers conduct free webinars, and participate in them. As a rule, these classes are conducted by the same specialists that work at paid trainings, so you can learn a lot of useful and necessary hints without paying a single dollar.
To sum it up, be sure to prepare yourself before you jump in that ocean of passionate trading and when you catch your money flow, grasp it tightly.
