10 Best Forex Brokers for Intermediate Forex Traders
The 10 Best Forex Brokers for Intermediate Trading in the Forex Market: Intermediate refers to Forex Traders who have passed the beginner stages, learned how to trade, and are taking the necessary next steps to become professionals in the field.
In this in-depth overview, you will learn:
- What are the best Forex brokers for intermediate traders who are still building their skills?
- What are the advantages and disadvantages of trading Forex with intermediate experience?
- What does intermediate trading involve and how is it defined?
- Which Forex brokers are best suited for intermediate traders?
- What are the common FAQs about the top 10 Forex brokers for intermediate trading?
And much, much more!
| 🔎 Broker | 🚀Open an Account | 📱 Platforms | 🔑 Key Features | 📌 Spreads |
| 🥇AvaTrade | 👉 Open Account | MT4, MT5, AvaTradeGO |
Fixed spreads, multiple regulatory licenses, AvaProtect risk management |
From 0.9 pips |
| 🥈 easyMarkets | 👉 Open Account | MT4, easyMarkets Web/App, TradingView |
No slippage, guaranteed stop loss, free withdrawals |
From 0.9 pips |
| 🥉 IC Markets | 👉 Open Account | MT4, MT5, cTrade |
Raw spreads, high leverage, fast execution |
From 0.0 pips |
| 🏅eToro | 👉 Open Account | eToro Web, eToro Mobile |
Social trading, copy trading, large community |
From 1.0 pips |
| 🥇 FP Markets | 👉 Open Account | MT4, MT5, Iress |
ECN pricing, multiple account types, low commissions |
From 0.0 pips |
| 🥈 XM | 👉 Open Account | MT4, MT5 |
High leverage, negative balance protection, no requotes |
From 0.6 pips |
| 🥉OANDA | 👉 Open Account | OANDA Web, MT4, TradingView |
No minimum deposit, strong regulatory oversight, advanced charting tools |
From 1.2 pips |
| 🏅 FXTM | 👉 Open Account | MT4, MT5 | High leverage, various account types, educational resources |
From 0.1 pips |
| 🥈 City Index | 👉 Open Account | MT4, WebTrader, Advantage Web/App |
Extensive market range, tight spreads, advanced trading tools |
From 0.5 pips |
| 🥇Forex.com | 👉 Open Account | MT4, WebTrader, TradingView |
Competitive pricing, extensive market analysis, solid regulatory environment |
From 0.8 pips |
10 Best Forex Brokers for Intermediate Forex Traders
- ☑️ AvaTrade – Overall, Forex Broker for Beginners.
- ☑️ easyMarkets – Best Trading App for Pro Traders
- ☑️ IC Markets – Caters to traders of all levels
- ☑️ eToro – Provides a suitable platform.
- ☑️ FP Markets – Offers various trading services
- ☑️ XM – Caters to intermediate-level trading
- ☑️ OANDA – Offers a user-friendly platform
- ☑️ FXTM – Best Trading App suited to Beginners
- ☑️ City Index – Popular Trading App
- ☑️ FOREX.com – Offers competitive spreads
1. AvaTrade
AvaTrade is an online broker founded in 2006. It offers Forex, CFDs, Spread Betting, and Social Trading. It is a global broker whose head office is in the British Virgin Islands. ASIC, CySEC, and FCA regulate AvaTrade in Europe, the British Virgin Islands, Australia, Japan, and South Africa.
AvaTrade is an excellent choice for intermediate Forex traders worldwide who want to refine their trading strategies and expand their market knowledge. To start with AvaTrade, you must make a minimum deposit of $100.
| 🔎 Broker | 🥇 AvaTrade |
| 👥Amount of Staff | 200+ |
| 🧑🏽🤝🧑🏽Active Traders | Over 300,000 |
| 📌Publicly Traded | None |
| Regulation | Central Bank of Ireland, ASIC, FSCA, FSA, ADGM, IIROC |
| 🏦Country of Regulation | Ireland, Australia, South Africa, Japan, UAE, Canada |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection | ✅Yes |
| 📑Investor Protection Schemes | ✅Yes (up to €20,000 under the Irish Investor Compensation Scheme) |
| 📌 Account Types and Features | Multiple |
| 👤Institutional Accounts | ✅Yes |
| 📒Managed Accounts | No |
| 📋Minor Account Currencies | EUR, GBP, USD, AUD, ZAR, etc. |
| 🪙Minimum Deposit | $100 |
| 💷Average Deposit/Withdrawal Processing Time | 1-3 business days |
| 💵Fund Withdrawal Fee | No (but bank charges may apply) |
| 📉Spreads From | 0.9 pips (on Forex) |
| 📈Commissions | No commission on most assets; commission on stocks |
| 💹Number of Base Currencies Supported | 6 |
| 📊Swap Fees | ✅Yes |
| ↪️Leverage | Up to 1:400 |
| 📌Margin Requirements | Depends on asset class and account type |
| ☪️Islamic Account (Swap-Free) | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Typically within milliseconds |
| 📲VPS Hosting | ✅Yes (available for select accounts) |
| 📈 CFDs Total | Over 1,250 |
| 📉CFD Stock Indices | 20+ |
| 📊CFD Commodities | 15+ |
| 💹CFD Shares | 600+ |
| 💳Deposit Options | Bank transfer, credit/debit cards, e-wallets |
| 🪙Withdrawal Options | Bank transfer, credit/debit cards, e-wallets |
| 🖥️Trading Platforms | MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, WebTrader |
| 📱OS Compatibility | Windows, MacOS, iOS, Android |
| ⚙️Forex Trading Tools | AutoChartist, Guardian Angel, Trading Central, Economic calendar, VPS |
| ⭐ Customer Support | Responsive |
| 🗣️Live Chat Availability | ✅Yes |
| 📧Customer Support Email Address | support@avatrade.com |
| 📞Customer Support Contact Number | Varies by region |
| 🖥Social Media Platforms | Facebook, Twitter, LinkedIn, |
| 🔖Languages Supported on Website | 20+ languages, including English, Spanish, French, German, Arabic, etc. |
| 📜Forex Course | ✅Yes (AvaAcademy, comprehensive online courses) |
| 🖥Webinars | ✅Yes |
| 📚Educational Resources | eBooks, video tutorials, articles, market analysis |
| 🤝Affiliate Program | ✅Yes (AvaPartner) |
| 👥Amount of Partners | Thousands globally |
| 🫶IB Program | ✅Yes |
| 📍Notable Events or Teams? | None |
| 💴 Rebate Program | ✅Yes |
| 🚀 Open an Account | Open Account |
Trading benefits
| 📱Trading Features: | 👥Accounts offered: | 💳Funding methods: |
| Allows scalping | Micro account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Low min deposit | Standard account | PayPal |
| Demo account | Skrill | |
| Islamic account | Payoneer | |
| Neteller |
Pros and Cons
| ✅Pros | ❌Cons |
| 200,000+ traders | Doesn’t offer VPS |
| Established in 2006 | Limited range of advanced charting tools |
| Offers a wide variety of assets |
Average spreads, not as tight as some competitors. |
| Regulated by multiple top-tier authorities. |
Limited in-depth educational content for advanced traders. |
| Strong customer support available 24/5. |
Bonuses and promotions may not be available in all regions. |
| Comprehensive mobile trading app with full functionality. |
Limited account types and customization options. |
Frequently Asked Questions
What types of trading accounts does AvaTrade offer?
AvaTrade offers several account types to suit different trading needs, including Standard, VIP, Professional, and Islamic accounts.
What are the available trading platforms at AvaTrade?
AvaTrade offers multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), AvaTradeGO, and AvaOptions.
How does AvaTrade handle order execution?
AvaTrade operates with a market execution model, meaning trades are executed at the best market price.
What educational resources does AvaTrade provide for traders looking to improve their skills?
AvaTrade offers many educational resources, including webinars, video tutorials, eBooks, and a comprehensive Trading Academy.
Our Verdict
AvaTrade offers a solid overall trading experience for Forex Brokers of intermediate traders, thanks to its user-friendly platforms and a broad range of assets.
2. EasyMarkets
easyMarkets provides a user-friendly platform with no slippage, guaranteed stop loss, and a straightforward trading experience. It’s particularly suitable for traders who prioritize safety and reliability. The available trading platforms offered are MT4 and the EasyMarkets web platform.
However, EasyMarkets would suit intermediate traders who prefer simple interfaces using advanced risk management tools. Its interface is easily understandable, and additional security options, such as deal cancellation and freeze rate, are available during high volatility.
| 🔎 Broker | 🥇 easyMarkets |
| 🗓Year Founded | 2001 |
| 👥Amount of Staff | Approximately 150 |
| 🧑🏽🤝🧑🏽Amount of Active Traders | Over 100,000 |
| 📌Publicly Traded | None |
| 🛡️ Regulation | ASIC, CySEC |
| 🏦Country of Regulation | Australia, Cyprus |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection | ✅Yes |
| 📑Investor Protection Schemes | ✅Yes |
| 👤Institutional Accounts | None |
| 📒Managed Accounts | None |
| 📋Minor Account Currencies | Various |
| 🪙Minimum Deposit | $100 |
| 💷Average Deposit/Withdrawal Processing Time | 1-3 business days |
| 💵Fund Withdrawal Fee | No fee |
| 📉Spreads From | 0.7 pips |
| 📈Commissions | No commissions on standard accounts |
| 💹Number of Base Currencies Supported | Over 50 |
| 📊Swap Fees | ✅Yes |
| ↪️Leverage | Up to 1:400 |
| 📌Margin Requirements | Varies by asset and leverage |
| ☪️Islamic Account | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Within 1 second |
| 📲VPS Hosting | ✅Yes |
| 📈CFDs Total | Over 200 |
| 📉CFD Stock Indices | ✅Yes |
| 📊CFD Commodities | ✅Yes |
| 💹CFD Shares | ✅Yes |
| 💳Deposit Options | Bank transfer, Credit/Debit cards, eWallets |
| 🪙Withdrawal Options | Bank transfer, Credit/Debit cards, eWallets |
| 🖥️Trading Platforms | easyMarkets Platform, MetaTrader 4 (MT4) |
| 📱OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️Forex Trading Tools | Economic calendar, market news, trading signals |
| 🗣️Live Chat Availability | ✅Yes |
| 📧Support Email Address |
support@easymarkets.com |
| 📞Support Contact Number |
Varies by region |
| 🖥Social Media Platforms |
Facebook, Twitter, |
| 🔖Languages Supported on Website |
English, Spanish, Arabic, Chinese, and more |
| 📜Forex Course | ✅Yes |
| 🖥Webinars | ✅Yes |
| 📚Educational Resources | Trading guides, market analysis, webinars |
| 🤝Affiliate Program | ✅Yes |
| 👥Amount of Partners | Varies |
| 🗂IB Program | ✅Yes |
| 💴 Rebate Program | ✅Yes |
| 🚀 Open an Account | 👉 Open Account |
Trading Benefits
| 📱Trading Features: | 👥Accounts offered: | 💳Funding methods: |
| Allows scalping | Micro account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Low min deposit | Standard account | Payoneer |
| Guaranteed stop loss | Demo account | Neteller |
| Offers Negative Balance Protection | Islamic account |
Pros and Cons
| ✅Pros | ❌Cons |
| No slippage or requotes | Fixed spreads may be higher compared to variable spreads |
| User-friendly platform with a simple |
Limited advanced charting and analysis tools. |
| Wide range of risk management |
Fewer account types with limited customization options. |
| Regulated by CySEC and ASIC |
Limited range of advanced |
Frequently Asked Questions
What is deal cancellation?
dealCancellation is a unique feature offered by easyMarkets that allows traders to undo a losing trade within a specified time frame (1, 3, or 6 hours) for a small fee.
Does easyMarkets offer leverage?
Yes, easyMarkets offers leverage up to 1:400.
How does easyMarkets handle order execution?
easyMarkets operates a no-slippage policy, meaning that trades are executed at the price you see, without requotes.
How secure are my funds with easyMarkets?
easyMarkets is regulated by multiple authorities, including CySEC and ASIC, ensuring a high level of fund security.
Our Verdict
easyMarkets provides a straightforward and intuitive trading platform ideal for intermediate traders seeking a user-friendly experience.
3. IC Markets
IC Markets is a leading broker for traders seeking ultra-low spreads, high leverage, and fast execution speeds. It’s an excellent choice for frequent traders who demand precision.
IC Markets offers traders three main types of live trading accounts to choose from, including Raw Islamic swap-free accounts and the use of a free demo trading account.
IC Markets is a regulated Forex ECN and CFD broker that offers more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks and Futures on the MetaTrader 4, MetaTrader 5, and cTrader platforms for desktop, web and mobile.
| 🔎 Broker | 🥇 IC Markets |
| 🗓Year Founded | 2007 |
| 👥Amount of Staff | Approximately 200 |
| 🧑🏽🤝🧑🏽Amount of Active Traders | Over 100,000 |
| 📌Publicly Traded | None |
| 🫰🏻 Regulation and Security | High |
| 🛡️ Regulation | ASIC, CySEC, FSA |
| 🏦Country of Regulation | Australia, Cyprus, Seychelles |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection | ✅Yes |
| 📑Investor Protection Schemes | ✅Yes (in regulated regions) |
| 👤Institutional Accounts | ✅Yes |
| 📒Managed Accounts | No |
| 📋Minor Account Currencies | Various |
| 🪙Minimum Deposit | $200 |
| 💷Average Deposit/Withdrawal Processing Time | 1-2 business days |
| 💵Fund Withdrawal Fee | No fee |
| 📉Spreads From | 0.0 pips |
| 📈Commissions | Yes, on certain accounts |
| 💹Number of Base Currencies Supported | Over 10 |
| 📊Swap Fees | ✅Yes |
| ↪️Leverage | Up to 1:500 |
| 📌Margin Requirements | Varies by asset and leverage |
| ☪️Islamic Account (Swap-Free) | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Typically within 1 second |
| 📲VPS Hosting | ✅Yes |
| 📈CFDs Total | Over 200 |
| 📉CFD Stock Indices | ✅Yes |
| 📊CFD Commodities | ✅Yes |
| 💹CFD Shares | ✅Yes |
| 💳Deposit Options | Bank transfer, Credit/Debit cards, eWallets |
| 🪙Withdrawal Options | Bank transfer, Credit/Debit cards, eWallets |
| 🖥️Trading Platforms | easyMarkets Platform, MetaTrader 4 (MT4) |
| 📱OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️Forex Trading Tools | Economic calendar, market news, trading signals |
| 🥰 Customer Support | Responsive |
| 🗣️Live Chat Availability | ✅Yes |
| 📧Customer Support Email Address | support@icmarkets.com |
| 📞Customer Support Contact Number | Varies by region |
| 🖥Social Media Platforms | Facebook, Twitter, |
| 🔖Languages Supported on Website | English, Chinese, Arabic, and more |
| 📌 Educational Resources and Support | Multiple |
| 📜Forex Course | ✅Yes |
| 🖥Webinars | ✅Yes |
| 📚Educational Resources | Trading guides, market analysis, webinars |
| Partnerships and Programs | Affiliate and IB |
| 🤝Affiliate Program | ✅Yes |
| 👥Amount of Partners | Varies |
| 🗂IB Program | ✅Yes |
| ✅Rebate Program | ✅Yes |
| 🚀 Open an Account | 👉 Open Account |
Trading Benefits
| 📱Trading Features: | 👥Accounts offered: | 💳Funding methods: |
| Allows scalping | Micro account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | Payoneer |
| Low min deposit | Zero spread account | Neteller |
| ECN account | ||
| Islamic account |
Pros and Cons
| ✅Pros | ❌Cons |
| Tight spreads and low commissions |
Limited educational resources |
| High leverage options up to 500:1 |
No bonuses or promotions for traders. |
| Excellent execution speeds and deep liquidity. |
Limited asset classes |
| Regulated by CySEC and ASIC |
Customer support is available 24/7 but can be slower during peak times. |
Frequently Asked Questions
What trading platforms are available at IC Markets?
IC Markets provides multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
What are the spreads and fees associated with trading on IC Markets?
IC Markets is known for its tight spreads, starting at 0.0 pips on major currency pairs in the Raw Spread account.
How does IC Markets handle order execution?
IC Markets provides fast and reliable order execution with no dealing desk (NDD) intervention.
How secure are my funds with IC Markets?
Multiple authorities regulate IC Markets, including ASIC in Australia, CySEC in Cyprus, and the FSA in Seychelles.
Our Verdict
IC Markets stands out as a top choice for intermediate traders seeking tight spreads, fast execution, and a range of advanced platforms like MT4, MT5, and cTrader.
4. eToro
eToro stands out with its social trading features, allowing traders to copy the strategies of experienced investors. Its intuitive platform makes it ideal for traders interested in a more communal trading experience. eToro is an online broker founded in 2006.
It offers CFDs and Social Trading and has a head office in Cyprus, UK.
eToro has been in operation for over 14 years and is supervised by the Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.
| 🔎 Broker | 🥇 eToro |
| 🗓Year Founded | 2007 |
| 👥Amount of Staff | 1,500+ |
| 🧑🏽🤝🧑🏽Amount of Active Traders | 20 million+ |
| 📌Publicly Traded | ✅Yes |
| 🛡️ Regulation | FCA (UK), CySEC (Cyprus), ASIC (Australia) |
| 🏦Country of Regulation | UK, Cyprus, Australia |
| ⭐Safety and Security | High |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection | ✅Yes |
| 📑Investor Protection Schemes | ✅Yes |
| 👤Institutional Accounts | None |
| 📒Managed Accounts | None |
| 📋Minor Account Currencies | USD, EUR, GBP, AUD, etc. |
| 🪙Minimum Deposit | None |
| 💷Average Dep./Withdrawal Processing Time |
1-2 business days |
| 💵Fund Withdrawal Fee | $5 per withdrawal |
| 📉Spreads From | 1 pip (Forex), 0.09% (Stocks) |
| 📈Commissions | Zero commissions on real stocks |
| 💹Number of Base Currencies Supported |
9 |
| 📊Swap Fees | ✅Yes (Overnight fees) |
| ↪️Leverage | Up to 1:30 (Retail), Up to 1:400 (Professional) |
| 📌Margin Requirements |
Depends on leverage used |
| ☪️Islamic Account | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Market dependent, typically instant |
| 📲VPS Hosting | None |
| 📈CFDs Total | 2,000+ |
| 📉CFD Stock Indices | 13+ |
| 📊CFD Commodities | 20+ |
| 💹CFD Shares | 1,700+ |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, etc. |
| 🪙Withdrawal Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, etc. |
| 🖥️Trading Platforms | eToro proprietary platform (Web and Mobile) |
| 📱OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️Forex Trading Tools | Social trading, CopyTrader, News feed |
| 🗣️Live Chat Availability | None |
| 📧Customer Support Email Address | Provided via support ticket system |
| 📞Customer Support Contact Number | Not listed, primarily through online support |
| 🖥Social Media Platforms | Facebook, Twitter, LinkedIn, |
| 🔖Languages Supported on Website |
English, Spanish, German, French, Italian, and more |
| 📜Forex Course | ✅Yes |
| 🖥Webinars | ✅Yes |
| 📚Educational Resources | Trading academy, eBooks, guides, videos |
| 🤝Affiliate Program | ✅Yes |
| 👥Amount of Partners | 30,000+ |
| 🗂IB Program | ✅Yes |
| ❓Notable Events or Teams? | ✅Yes |
| ✅Rebate Program | None |
| 🚀 Open an Account | Open Account |
Trading Benefits
| 📱Trading Features: | 👥Accounts offered: | 💳Funding methods: |
| Offers STP | Micro account | Credit cards |
| Low min deposit | Mini account | Bank Transfer |
| Standard account | Payoneer | |
| Islamic account | Neteller | |
| Demo account | PayPal | |
| Skrill |
Pros and Cons
| ✅Pros | ❌Cons |
| Intuitive and user friendly platform |
Higher spreads |
| Unique social trading features |
Limited customization options |
| Regulated by multiple top-tier authorities |
Customer support can be slow during peak times. |
| Commission-free trading | Limited research and analysis tools |
Frequently Asked Questions
What types of trading accounts does eToro offer?
eToro primarily provides a single account type for retail traders.
How secure are my funds with eToro?
eToro is regulated by multiple authorities, including the FCA in the UK, CySEC in Cyprus, and ASIC in Australia.
Can I trade other assets besides forex on eToro?
EToro offers a wide range of assets beyond forex, including stocks, commodities, cryptocurrencies, ETFs, and indices.
How long do they take?
Withdrawals on eToro typically take 1-3 business days to process.
Our Verdict
eToro is a standout platform for intermediate traders who value social trading and a user-friendly interface.
5. FP Markets
FP Markets offers ECN pricing with low commissions, multiple account types, and various platforms. It’s particularly favored by traders who appreciate transparency and flexibility.
FP Markets is an excellent choice for intermediate traders seeking a balance of cost-efficiency and advanced trading tools.
FP Markets is a global online broker regulated by the Australian ASIC and the Cypriot CySEC. It was founded in 2005, offers Forex trading, and has a head office in Australia.
| 🔎 Broker | 🥇FP Markets |
| 🗓Year Founded | 2005 |
| 👥Amount of Staff | Approximately 100 |
| 🧑🏽🤝🧑🏽Amount of Active Traders | Over 40,000 |
| 📌Publicly Traded | None |
| 🚩Regulation and Security |
High |
| 🛡️ Regulation | ASIC, CySEC |
| 🏦Country of Regulation | Australia, Cyprus, |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection |
✅Yes |
| 📑Investor Protection Schemes |
✅Yes |
| 👤Institutional Accounts | ✅Yes |
| 📒Managed Accounts | No |
| 📋Minor Account Currencies |
Various |
| 🪙Minimum Deposit | $100 |
| 💷Average Deposit/Withdrawal Processing Time |
1-2 business days |
| 💵Fund Withdrawal Fee | No fee |
| 📉Spreads From | 0.0 pips |
| 📈Commissions | Yes, on certain accounts |
| 💹Number of Base Currencies Supported |
Over 50 |
| 📊Swap Fees | ✅Yes |
| ↪️Leverage | Up to 1:500 |
| 📌Margin Requirements | Varies by asset and leverage |
| ☪️Islamic Account | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Typically within 1 second |
| 📲VPS Hosting | ✅Yes |
| ⭐CFDs-Total Offered | Over 10,000 |
| 📈CFD Stock Indices | ✅Yes |
| 📉CFD Commodities | ✅Yes |
| 📊CFD Shares | ✅Yes |
| 💳Deposit Options | Bank transfer, Credit/Debit cards, eWallets |
| 🪙Withdrawal Options | Bank transfer, Credit/Debit cards, eWallets |
| 🖥️Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), IRESS |
| 📱OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️Forex Trading Tools | Economic calendar, market news, trading signals |
| 🗣️Live Chat Availability | ✅Yes |
| 📧Customer Support Email Address | support@fpmarkets.com |
| 📞Customer Support Contact Number | Varies by region |
| 🖥Social Media Platforms | Facebook, Twitter, |
| 🔖Languages Supported on Website | English, Chinese, Arabic, and more |
| 📜Forex Course | ✅Yes |
| 🖥Webinars | ✅Yes |
| 📚Educational Resources | Trading guides, market analysis, webinars |
| 🤝Affiliate Program | ✅Yes |
| 👥Amount of Partners | Varies |
| 🗂IB Program | ✅Yes |
| 🚀Open an Account | 👉 Click Here |
Trading benefits
| 📱Trading Features: | 👥Accounts offered: | 💳Funding methods: |
| Offers STP | Micro account | Credit cards |
| Low min deposit | Mini account | Bank Transfer |
| Standard account | Payoneer | |
| Islamic account | Neteller | |
| Demo account | PayPal | |
| Skrill |
Pros and Cons
| ✅Pros | ❌Cons |
| Intuitive and user friendly platform |
Higher spreads |
| Unique social trading features |
Limited customization options |
| Regulated by multiple top-tier authorities |
Customer support can be slow during peak times. |
| Commission-free trading | Limited research and analysis tools |
Frequently Asked Questions
What types of trading accounts does FP Markets offer?
FP Markets offers two main account types: Standard and Raw.
What is the minimum deposit required to start trading with FP Markets?
The minimum deposit at FP Markets is $100 for both the Standard and Raw accounts.
What trading platforms are available at FP Markets?
FP Markets supports multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and IRESS.
Can I use automated trading strategies on FP Markets?
FP Markets fully supports automated trading through its MT4 and MT5 platforms.
Our Verdict
FP Markets is a strong contender for intermediate traders who value tight spreads, fast execution, and advanced platforms like MT4, MT5, and IRESS.
6. XM Group
XM Group (XM) is a group of regulated online brokers regulated by the Cyprus Securities and Exchange Commission.
XM offers traders more than 1,000 financial instruments to trade on the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Index CFDs, Precious Metals CFDs, and Energies CFDs.
| 🔎 Broker | 🥇XM |
| 🗓Year Founded | 2009 |
| 👥Amount of Staff | Approximately 300 |
| 🧑🏽🤝🧑🏽Amount of Active Traders | Over 1,000,000 |
| 📌Publicly Traded | None |
| ⭐ Regulation and Security | High |
| 🛡️ Regulation | ASIC, CySEC, FCA |
| 🏦Country of Regulation | Australia, Cyprus, UK |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection |
✅Yes |
| 📑Investor Protection Schemes |
✅Yes (in regulated regions) |
| 👤Institutional Accounts | ✅Yes |
| 📒Managed Accounts | None |
| 📋Minor Account Currencies |
Various |
| 🪙Minimum Deposit | $5 |
| 💷Average Deposit/Withdrawal Processing Time |
1-2 business days |
| 💵Fund Withdrawal Fee | No fee |
| 📉Spreads From | 0.0 pips |
| 📈Commissions | No commissions on standard accounts |
| 💹Number of Base Currencies Supported | Over 50 |
| 📊Swap Fees | ✅Yes |
| ↪️Leverage | Up to 1:888 |
| 📌Margin Requirements | Varies by asset and leverage |
| ☪️Islamic Account | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Typically within 1 second |
| 📲VPS Hosting | ✅Yes |
| 📈CFDs Total | Over 1,000 |
| 📉CFD Stock Indices | ✅Yes |
| 📊CFD Commodities | ✅Yes |
| 💹CFD Shares | ✅Yes |
| 💳Deposit Options | Bank transfer, Credit/Debit cards, eWallets |
| 🪙Withdrawal Options | Bank transfer, Credit/Debit cards, eWallets |
| 🖥️Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), XM WebTrader |
| 📱OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️Forex Trading Tools | Economic calendar, market news, trading signals |
| 🥰 Customer Support | Responsive |
| 🗣️Live Chat Availability | ✅Yes |
| 📧Support Email Address |
support@xm.com |
| 📞Support Contact Number |
Varies by region |
| 🖥Social Media Platforms | Facebook, Twitter, |
| 🔖Languages Supported on Website |
English, Chinese, Arabic, and more |
| 📜Forex Course | ✅Yes |
| 🖥Webinars | ✅Yes |
| 📚Educational Resources | Trading guides, market analysis, webinars |
| 🤝Affiliate Program | ✅Yes |
| 👥Amount of Partners | Varies |
| 🗂IB Program | ✅Yes |
| ✅Rebate Program | ✅Yes |
| 🚀 Open an Account | 👉 Open Account |
Trading Benefits
| 📱Trading Features: | 👥Accounts offered: | 💳Funding methods: |
| Negative Balance Protection | Micro account | Wire Transfer |
| Low Spreads | XM Zero account | Credit/Debit |
| Low Commission | Neteller | |
| Hedging Allowed | UnionPay | |
| Scalping Allowed | WebMoney | |
| Qiwi |
Pros and Cons
| ✅Pros | ❌Cons |
| Intuitive and user-friendly platform | Higher spreads |
| Extensive educational resources | Limited asset classes |
| Regulated by multiple top-tier authorities | Leverage is capped at 30:1 for retail clients |
| No requotes or hidden fees | Limited customization for account types |
Frequently Asked Questions
How secure are my funds with XM?
Multiple authorities regulate XM, including CySEC, ASIC, and the IFSC.
Can I use automated trading strategies on XM?
Yes, XM fully supports automated trading through its MT4 and MT5 platforms.
How long does XM Withdrawal take?
Withdrawals at XM are typically processed within 24 hours.
What educational resources does XM provide to improve trading skills?
XM offers a comprehensive range of educational resources, including live webinars, video tutorials, trading signals, and a dedicated learning center.
Our Verdict
XM is a reliable choice for intermediate traders, offering a user-friendly experience with platforms like MT4 and MT5.
7. OANDA
OANDA is a well-regulated broker with no minimum deposit requirement, making it accessible to beginners and experienced traders. It offers advanced trading tools and a robust regulatory framework.
OANDA is a globally regulated Forex and CFD broker. Users can trade on Forex, Indices, Metals, Commodities, and Bond CFDs on the broker’s proprietary trading platform for desktop, web, and mobile, as well as on MetaTrader4.
| 🔎 Broker | 🥇 OANDA |
| 🗓Year Founded | 1996 |
| 👥Amount of Staff | Over 1,000 |
| 🧑🏽🤝🧑🏽Amount of Active Traders | Over 100,000 |
| 📌Publicly Traded | None |
| ⭐ Regulation and Security | High |
| 🛡️Regulation | FCA, CFTC, ASIC, IIROC |
| 🏦Country of Regulation | UK, USA, Australia, Canada, Japan |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection | ✅Yes |
| 📑Investor Protection Schemes | ✅Yes |
| 👤Institutional Accounts | ✅Yes |
| 📒Managed Accounts | No |
| 📋Minor Account Currencies | ✅Yes |
| 🪙Minimum Deposit | $0 |
| 💷Average Deposit/Withdrawal Processing Time |
1-2 business days |
| 💵Fund Withdrawal Fee | Varies by method |
| 📉Spreads From | 0.1 pips |
| 📈Commissions | Varies by account type and trading volume |
| 💹Number of Base Currencies Supported |
50+ |
| 📊Swap Fees | Varies |
| ↪️Leverage | Up to 1:200 |
| 📌Margin Requirements | Depends on account type and instrument |
| ☪️Islamic Account (Swap-Free) | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Instant to a few seconds |
| 📲VPS Hosting | Available for eligible accounts |
| 📈 CFDs Total | Over 100 |
| 📉 CFD Stock Indices | ✅Yes |
| 📊 CFD Commodities | ✅Yes |
| 💹 CFD Shares | ✅Yes |
| 💳Deposit Options | Bank transfer, credit/debit cards, e-wallets |
| 🪙Withdrawal Options | Bank transfer, credit/debit cards, e-wallets |
| 🖥️Trading Platforms | OANDA fxTrade, MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| 📱OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️Forex Trading Tools | Advanced charting, trading signals, news feeds |
| 📌Customer Support | Responsive |
| 🗣️Live Chat Availability | ✅Yes |
| 📧Customer Support Email Address | support@oanda.com |
| 📞Customer Support Contact Number | Varies by region |
| 🖥Social Media Platforms | Facebook, Twitter, |
| 🔖Languages Supported on OANDA Website | Multiple languages including English, Spanish, German |
| 📜Forex Course | Available |
| 🖥Webinars | Regular webinars |
| 📚Educational Resources | Guides, articles, video tutorials |
| 🤝Affiliate Program | ✅Yes |
| 👥Amount of Partners | Numerous |
| 🗂IB Program | ✅Yes |
| ✅Rebate Program | Available |
| 🚀 Open a account | 👉 Open Account |
Trading Benefits
| 📱Trading Features: | 👥Accounts offered: | 💳Funding methods: |
| Mobile Trading | Standard account | Wire Transfer |
| Excellent Charting Tools | Premium account | Credit/Debit |
| Educational Materials | PayPal |
Pros and Cons
| ✅Pros | ❌Cons |
| No minimum deposit requirement | Spreads can be higher |
| Regulated by top-tier authorities | Limited range of asset classes |
| User-friendly platforms with advanced tools | No bonuses or promotions offered. |
| Strong reputation for transparency | Leverage is capped at 50:1 in the U.S. |
Frequently Asked Questions
What are the spreads and fees associated with trading on OANDA?
OANDA offers variable spreads, starting at 0.1 pips on major currency pairs.
Does OANDA offer leverage, and what are the available leverage levels?
OANDA offers leverage up to 1:50 in the U.S. and 1:30 in Europe.
What are the spreads and fees associated with trading on OANDA?
OANDA offers variable spreads, starting at 0.1 pips on major currency pairs.
What types of trading accounts does OANDA offer?
OANDA offers two main account types: Standard and Premium.
Our Verdict
OANDA is a trusted and reliable broker, particularly well-suited for intermediate traders who appreciate transparency and robust regulation.
8. FXTM
FXTM is known for its high leverage, extensive educational content, and multiple account types. It’s an excellent option for traders seeking a broker supporting growth and learning.
FXTM provides research in the form of daily technical and fundamental news analysis by an in-house team of analysts.
FXTM, or ForexTime, was founded in 2011 and is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius.
| 🔎 Broker | 🥇FXTM |
| 🗓Year Founded | 2011 |
| 👥Amount of Staff | Approximately 200 |
| 🧑🏽🤝🧑🏽Amount of Active Traders | Over 1,000,000 |
| 📌Publicly Traded | None |
| ⭐ Regulation and Security | High |
| 🛡️ Regulation | FCA, CySEC, FSC, CIMA |
| 🏦Country of Regulation | UK, Cyprus, Mauritius, Belize |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection | ✅Yes |
| 📑Investor Protection Schemes |
✅Yes |
| 👤Institutional Accounts | ✅Yes |
| 📒Managed Accounts | None |
| 📋Minor Account Currencies | Various |
| 🪙Minimum Deposit | $10 |
| 💷Average Deposit/Withdrawal Processing Time | 1-2 business days |
| 💵Fund Withdrawal Fee | No fee |
| 📉Spreads From | 0.0 pips |
| 📈Commissions | ✅Yes |
| 💹Number of Base Currencies Supported | Over 50 |
| 📊Swap Fees | ✅Yes |
| ↪️Leverage | Up to 1:1000 |
| 📌Margin Requirements | Varies by asset and leverage |
| ☪️Islamic Account | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Typically within 1 second |
| 📲VPS Hosting | ✅Yes |
| 📈CFDs Total | Over 250 |
| 📉CFD Stock Indices | ✅Yes |
| 📊CFD Commodities | ✅Yes |
| 💹CFD Shares | ✅Yes |
| 💳Deposit Options | Bank transfer, Credit/Debit cards, eWallets |
| 🪙Withdrawal Options | Bank transfer, Credit/Debit cards, eWallets |
| 🖥️Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), FXTM Trader |
| 📱OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️Forex Trading Tools | Economic calendar, market news, trading signals |
| 🥰 Customer Support | Responsive |
| 🗣️Live Chat | ✅Yes |
| 📧Support Email Address |
support@fxtm.com |
| 📞Support Contact Number |
Varies by region |
| 🖥Social Media Platforms | Facebook, Twitter, |
| 🔖Languages Supported on Website |
English, Arabic, Chinese, Spanish, and more |
| 🧩 Educational Resources and Support | Multiple |
| 📜Forex Course | ✅Yes |
| 🖥Webinars | ✅Yes |
| 📚Educational Resources | Trading guides, market analysis, webinars |
| 🤝Affiliate Program | ✅Yes |
| 👥Amount of Partners | Varies |
| 🗂IB Program | ✅Yes |
| ✅Rebate Program | ✅Yes |
| 🚀 Open an Account | 👉 Open Account |
Trading Benefits
| 📱Trading Features: | 👥Accounts offered: | 💳Funding methods: |
| Unbeatable trading costs | Standard account | Bank Wire Transfer |
| Lightning-fast execution | Premium account | Credit/Debit Cards |
| Globally trusted | Cent account | Electronic Payment Systems |
| Local Bank Transfers |
Pros and Cons
| ✅Pros | ❌Cons |
| Tight spreads | Inactivity fees apply after a period of dormancy. |
| High leverage options up to 2000:1 |
Limited asset classes beyond forex and CFDs. |
| Extensive educational resources |
Bonuses and promotions may not be available |
| Regulated by multiple authorities |
Limited account customization options. |
Frequently Asked Questions
What trading platforms are available at FXTM?
FXTM supports the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, both available on desktop, web, and mobile devices.
How does FXTM handle order execution?
FXTM offers fast and reliable order execution with no dealing desk (NDD) intervention, which reduces the chances of requotes and slippage.
Does FXTM offer leverage, and what are the available leverage levels?
Yes, FXTM offers flexible leverage up to 1:2000, depending on the account type and the trader’s location.
What types of trading accounts does FXTM offer?
FXTM offers several account types, including Micro, Advantage, and Advantage Plus accounts.
Our Verdict
FXTM is an excellent choice for intermediate traders. It offers tight spreads and various account options, including high leverage up to 2000:1.
9. City Index
City Index offers various markets, tight spreads, and advanced technical analysis tools. It’s ideal for traders who want a comprehensive trading environment focusing on analysis.
City Index is a Spread Betting, CFD, and Forex trading broker regulated by the UK Financial Conduct Authority (FCA).
City Index allows traders to trade on 12,000+ instruments, including Stocks, Shares, Forex, Cryptos, and Commodities.
| 🔎 Broker | 🥇 City Index |
| 🗓Year Founded | 1983 |
| 👥Amount of Staff | Approximately 300 |
| 🧑🏽🤝🧑🏽Amount of Active Traders | Over 100,000 |
| 📌Publicly Traded | London Stock Exchange (LSE) |
| 🛡️Regulation | FCA, ASIC, etc. |
| 🏦Country of Regulation | UK, Australia |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection |
✅Yes |
| 📑Investor Protection Schemes |
✅Yes |
| 👤Institutional Accounts | ✅Yes |
| 📒Managed Accounts | No |
| 📋Minor Account Currencies |
✅Yes |
| 🪙Minimum Deposit | $100 |
| 💷Average Deposit/Withdrawal Processing Time |
1-2 business days |
| 💵Fund Withdrawal Fee | Varies by method |
| 📉Spreads From | 0.5 pips |
| 📈Commissions | Varies by account type and trading volume |
| 💹Number of Base Currencies Supported | 80+ |
| 📊Swap Fees | Varies |
| ↪️Leverage | Up to 1:200 |
| 📌Margin Requirements | Depends on account type and instrument |
| ☪️Islamic Account | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Instant to a few seconds |
| 📲VPS Hosting | Available for eligible accounts |
| 📈CFDs Total | Over 12,000 |
| 📉CFD Stock Indices | ✅Yes |
| 📊CFD Commodities | ✅Yes |
| 💹CFD Shares | ✅Yes |
| 💳Deposit Options | Bank transfer, credit/debit cards, e-wallets |
| 🪙Withdrawal Options | Bank transfer, credit/debit cards, e-wallets |
| 🖥️Trading Platforms | City Index platform, MetaTrader 4 (MT4) |
| 📱OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️Forex Trading Tools | Advanced charting, trading signals, news feeds |
| 🗣️Live Chat Availability | ✅Yes |
| 📧Customer Support Email Address | support@cityindex.com |
| 📞Customer Support Contact Number | Varies by region |
| 🖥Social Media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🔖Languages Supported on City Index Website | Multiple languages |
| 📜Forex Course | Available |
| 🖥Webinars | Regular webinars |
| 📚Educational Resources | Guides, articles, video tutorials |
| 🤝Affiliate Program | ✅Yes |
| 👥Amount of Partners | Numerous |
| 🗂IB Program | ✅Yes |
| ❓Do They Sponsor | ✅Yes |
| ✅Rebate Program | Available |
| 🚀 Open a account | 👉 Open Account |
Trading Benefits
| 📱Trading Features: | 👥Accounts offered: | 💳Funding methods: |
| Allows hedging | Standard account | Credit cards |
| Offers STP | Managed account | Bank Transfer |
| Low min deposit | Cent account | Payoneer |
| Guaranteed stop loss | Mini account | |
| Demo account |
Pros and Cons
| ✅Pros | ❌Cons |
| User-friendly platforms | Higher spreads compared to some competitors. |
| Wide range of assets | Limited educational resources |
| Regulated by top-tier authorities |
Fewer promotional offers and bonuses. |
| Strong customer support available 24/5. |
Limited account types |
Frequently Asked Questions
Does the City Index offer leverage?
City Index offers leverage up to 1:200, depending on the asset and regulatory requirements.
What educational resources does City Index provide to improve trading skills?
City Index offers a range of educational resources, including webinars, trading guides, video tutorials, and market analysis.
Can I use automated trading strategies on the City Index?
Yes, City Index supports automated trading through its MT4 platform.
How does City Index handle order execution?
City Index provides fast and reliable order execution with no dealing desk intervention.
Our Verdict
City Index is a reliable option for intermediate traders. It offers many assets and user-friendly platforms like Web Trader and MT4.
10. Forex.com
Forex.com provides competitive pricing, a solid regulatory environment, and extensive market analysis.
It’s a reliable choice for traders with a well-rounded and secure trading experience. To open a live trading account, traders will need a minimum deposit of at least $50.
Forex.com is a platform for trading foreign currencies and precious metals. Traders can trade over 80 currency pairs and silver and gold.
| 🔎 Broker | 🥇 Forex.com |
| 🗓Year Founded | 2001 |
| 👥Amount of Staff | Over 500 |
| 🧑🏽🤝🧑🏽Amount of Active Traders | Over 200,000 |
| 📌Publicly Traded | Yes, listed on the New York Stock Exchange (NYSE) |
| 🛡️Regulation | FCA, CFTC, ASIC, etc. |
| 🏦Country of Regulation | UK, USA, Australia, etc. |
| 💴Account Segregation | ✅Yes |
| 🔑Negative Balance Protection |
✅Yes |
| 📑Investor Protection Schemes |
✅Yes |
| 👤Institutional Accounts | ✅Yes |
| 📒Managed Accounts | No |
| 📋Minor Account Currencies |
✅Yes |
| 🪙Minimum Deposit | $100 |
| 💷Average Deposit/Withdrawal Processing Time |
1-2 business days |
| 💵Fund Withdrawal Fee | Varies by method |
| 📉Spreads From | 0.2 pips |
| 📈Commissions | Varies |
| 💹Number of Base Currencies Supported |
80+ |
| 📊Swap Fees | Varies |
| ↪️Leverage | Up to 1:200 |
| 📌Margin Requirements | Depends on account type and instrument |
| ☪️Islamic Account (Swap-Free) | ✅Yes |
| 🆓Demo Account | ✅Yes |
| ⏰Order Execution Time | Instant to a few seconds |
| 📲VPS Hosting | Available for eligible accounts |
| 📊CFDs Total | Over 300 |
| 📉CFD Stock Indices | ✅Yes |
| 📈CFD Commodities | ✅Yes |
| 💹CFD Shares | ✅Yes |
| 💳Deposit Options | Bank transfer, credit/debit cards, e-wallets |
| 🪙Withdrawal Options | Bank transfer, credit/debit cards, e-wallets |
| 🖥️Trading Platforms | Forex.com platform, MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| 📱OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️Forex Trading Tools | Advanced charting, trading signals, news feeds |
| 🥰Customer Support | Responsive |
| 🗣️Live Chat | ✅Yes |
| 📧Support Email Address |
support@forex.com |
| 📞Support Contact Number |
Varies by region |
| 🖥Social Media Platforms |
Facebook, Twitter, LinkedIn, YouTube |
| 🔖Languages Supported | Multiple languages including English, Spanish, German |
| 🚩Educational Resources and Support | Multiple Sources |
| 📜Forex Course | ✅Yes |
| 🖥Webinars | Regular webinars |
| 📚Educational Resources | Guides, articles, video tutorials |
| 🤝Affiliate Program | ✅Yes |
| 👥Amount of Partners | Numerous |
| 🗂IB Program | ✅Yes |
| 💴Rebate Program | ✅Yes |
| 🚀 Open a account | 👉 Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Advanced trading platforms |
Higher spreads compared to some competitors. |
| Wide range of assets | Limited educational resources |
| High regulatory standards with top tier authorities |
No bonuses or promotions offered. |
| Comprehensive educational materials |
Limited options for account customization. |
Frequently Asked Questions
What trading platforms are available at FOREX.com?
FOREX.com offers multiple trading platforms, including its proprietary FOREX.com platform, MetaTrader 4 (MT4), and MetaTrader 5 (MT5).
What are the spreads and fees associated with trading on FOREX.com?
FOREX.com offers competitive spreads starting from 0.8 pips on major currency pairs for Standard accounts.
How does FOREX.com handle order execution?
FOREX.com provides fast and reliable order execution with no dealing desk intervention.
How secure are my funds with FOREX.com?
Top-tier authorities, including the FCA in the UK, CFTC in the U.S., and ASIC in Australia, regulate FOREX.com.
Our Verdict
FOREX.com is a dependable choice for intermediate traders. It offers advanced platforms like MT4 and MT5 and a wide range of assets.
Factors to look for in a Forex Broker
Of course, looking at the mechanics and choosing a forex broker is crucial based on aspects that matter to the trader. First, check whether the broker is regulated; if yes, the regulating body should be well-known, such as FCA, ASIC, or CySEC, which guarantees the safety of your funds and the broker’s transparency.
Second, consider the trading platform: Does it contain all the necessary tools and options to work efficiently with your strategies? When it comes to selecting trades, look for competitive spreads and low fees because they can significantly influence your results in the long run.
Do not neglect customer support, though having an opportunity to get help when it is needed can be crucial in many situations. Last but not least, consider the educational opportunities the broker provides—are they providing you with the tools you need to become a better trader? Selecting an appropriate broker, as the case may share the same objectives with you, ensures a secure trading environment and gives you all the necessary capabilities for success.
In Conclusion
If an Intermediate Trader has the utmost confidence in their Forex Broker, they can focus on other essential factors in their journey to “Pro.”
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Frequently Asked Questions
Who is an intermediate forex trader?
You are an intermediate trader if you have some of the following characteristics: You have some experience trading, usually between 6 months and 2 years. You trade pretty regularly, but you are not happy with the results. You may be in a breakeven or slightly profitable territory.
Which broker is best for Forex trading in the world?
Exness, XM, JustMarkets, XTB, Pepperstone, AvaTrade, FxPro, Oanda, Swissquote, and HFM are among the top Forex brokers in the industry.
What should I look for in a forex broker as an intermediate trader?
As an intermediate trader, you should look for a broker with competitive spreads, fast execution speeds, a wide range of trading instruments, advanced charting tools, and robust regulatory oversight.
How vital is leverage, and what should I consider when choosing a broker?
Leverage allows you to control larger positions with less capital, but it also increases risk. Choose a broker that offers flexible leverage options, which you can adjust based on your risk tolerance and trading strategy.
Are fixed or variable spreads better for intermediate traders?
Fixed spreads provide levels of consistency or security and can also be beneficial in volatile markets. Variable spreads are sometimes lower during market stability but may increase during turbulence. The latter is preferred by intermediate traders because of the possible cost-saving opportunities, if any, depending on the trader’s approach.
What platforms should an intermediate trader use, and why?
Platforms such as MT4/MT5 and cTrader benefit medium-level traders by offering complex charting capabilities, easy-to-customize indicators, and support for automated trading.
How can I ensure my funds are safe with a forex broker?
Choose a broker that offers segregated client accounts, meaning your funds are kept separate from the broker’s operating funds.
