Trusted Online Broker Reviews
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. But in any case, the criteria for a reliable broker are the same. On this page, we tested different companies with real money, whether it is a Forex Broker, CFD Broker ,or offshore Broker you will find the best one for your situation.
Focus on safety and service for traders of Online Brokers
The most important fact to check on a reliable broker is safety for customers. The broker should be regulated and licensed. There are some criminals who build scam websites to do a big fraud on their clients. For my reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licensed. In order to violate the rules, they would lose their license and a lot of money.
Furthermore, there should be a possibility to contact your broker in different ways. Most brokers offer support via phone, chat, or email 24 hours on normal working days. Clearly, the support language is English but many brokers offer support in different languages like German, Thai, or Chinese.
To improve your trading skills and results you can join the education center of the broker. Videos, tutorials, webinars and sometimes 1 to 1 coaching are provided. Nowadays the broker wants you to profit because they can earn more money through a profitable trader than a losing trader. In the following reviews, you will see what the brokers offer for their clients.
How does a broker earn money?
Forex trading becomes more and more popular. It is the most traded market in the world. Every day there is a transaction volume of billions US-Dollars. The market is open 24 hours per week. No matter how much capital you want to invest with forex trading you can start by a small amount of money or big investments.
In order to get around a fraud, I have checked the following providers thoroughly. In my review, I will show you secure CFD and Forex Brokers which provide you the best conditions for trading.
There are only two options for a broker to earn money but generally, they earn money through the clients trading activity. One the one hand the broker can give their clients a higher spread than the normal markets spread. The difference is earning. On the other hand, the broker can charge a commission per trade and can give their clients the true market spread. From my experience, the second way is the cheapest account model for the trader.
The criteria for Trusted Online Brokers
To achieve a good overall result, you have to consider different criteria during the test. All brokers in my experience reports have been extensively tested against these criteria. It is crucial that there is a good overall package for the trader, which has the best conditions. Personally, I would never use a broker or recommend one before I did not check these criteria.
You can do it by yourself or you can read through my reviews which I build up after these criteria.
Criteria for a reliable online broker:
- Regulation and licensed company
- Safety of customer funds
- Conditions to trade
- Which trading platform is available?
- Free demo account
- No hidden fees
- Professional support and service
Start with a free demo account
As trader, you should start with a free demo account. Any broker on this homepage will provide an unlimited and free demo account for practice. This is an account with virtual money which simulates the trading with real money. You can try out all the functions of the trading platform. Especially for beginners, it is a good way to improve trading skills and strategies. In conclusion, always I recommend using the demo account first so you can see by yourself if you like the trading conditions or not.
How to open your trading account
Now it is important that the account opening process is fast and without problems. With most brokers, it is very easy to open your account in less than 5 minutes. First off all you should fill in your personal data in the account form to do the first step. I recommend using the right data otherwise the broker will not allow you to trade with real money.
After that, you get direct access to the trading platform. Any regulated Forex Broker needs a full verification of your account. That means the broker verify your identity. It happens through uploading some documents on the broker’s homepage. It depends on the broker which documents are required. Follow the steps in the account dashboard. It is simple and easy.
Some brokers let you trade real money without verification (for demo account you do not need it). Personally, I recommend verifying your account complete before you do your first deposit. Sometimes it happens that the broker does not accept specific customers through the verification process.
Step by step to open your account:
- Insert your personal and correct data in the account form
- Now you can use the demo account
- Fulfill the registration process through the verification
- After the verification, you can do your first deposit
What is the minimum deposit for live trading?
Happy news for you. Today the most brokers require a minimum deposit of only 1$ between 250$. Due to the stronger competition, the minimum deposit amount getting smaller. Which deposit amount you should use I can not recommend to you. This depends on your situation but you should only use money which you can afford to lose.
Online Broker deposit and withdrawal
Before it comes to real money trading the deposit should be happening. The brokers offer different payment methods for a free deposit. In most cases, there are zero fees for your deposit. You can use electronic payment methods like credit card or electronic wallets like Skrill, Neteller or cryptocurrencies. Also, the normal method bank wire is available.
You can use methods like:
- Bank wire and transfer
- Electronic payments
- Neteller, Skrill, ePayments
- Yandex Money, UnionPay, Klarna
- Broker to Broker transfer
Conclusion: Trading is easy with a reliable Online Broker
Nowadays it is very easy to start trading online and invest in the financial markets by sign up to an online broker. One the one hand there are a lot of different offers and it seems that one broker is better than the other. On the other hand, it is hard to find the best online broker with good conditions because most beginners and advanced traders got a lack of knowledge about this topic. That is why I developed this website to make it easier for you to find good companies to trade with.
To choose the right online broker is very important. Clearly, it can decide about your profit and investment.