Forex Broker Reviews and Comparisons

If you are stepping stone on a path to success in online forex trading then the foremost prerequisite demands that you should choose a right broker. Successful forex traders know the art of choosing the right broker but for newcomers it is not an easy task.

What is ultimately success in forex trading? Success is the amount of profit you take home at the end of the day. Well, how can you achieve success if you start trading with a broker by paying high Pips spreads, high deposits and a small leverage ratio?

Besides low Pips spread, you must pay attention to many other important factors. The table given below is a master summary of key features of three leading online brokers. To make the matter simpler, we have given below full reviews of each broker.

1st Choice:
2nd Choice:
3rd Choice:
Forex Yard
eTore
Easy Forex
Min Deposit
$100
$50
$100
Credit Cards
Yes
Yes
Yes
Platform Type
Online
Download
Online
Free Demo A/c
Yes
Yes
No
Pip Spread Value
Excellent – Fixed
Excellent
Average
Leverage
Excellent
Very Good
Good
Loss Protection
Excellent
Good
Good
Customer Support
Excellent – 24/7
Very Good
Average
Overall Rating
Excellent
Very Good
Average

We would like to vote Forex Yard at the top of the list of all the three brokers. Have a look at the snapshot of the best forex broker Forex Yard before proceeding further.

#1 Forex Broker Review – Forex Yard

Forex YardTrading in Super-Mini is designed for new traders. You can trade in Super-Mini lot size of 1000 units as compared to a standard lot size of 100,000 or Mini lot size of 10,000. It is ideally suited for new traders in forex trading. The basic idea behind Super-mini arises from the fact that though the Demo account does provide the necessary boost but taking risk with your own money is not easy. The desired impetus comes only if you are sure that the overall risk and exposure and hence the loss of your hard money is restricted. Margin required for the Super-Mini lot is 100$ and thus you can start with just 100$ account deposit and start trading currencies online.

FOREXYARD works out as an excellent choice even for experienced Traders who would want to get along with a capital of 1000$ or more. For such traders, it is worth opening Pro account with Forex Yard. Traders will find much wanted key features like low Pips spread, low margins, user friendly forex trading software loaded with all the tools and an excellent customer support.

Forex Yard Trading Platform offers features such as Trade directly from the chart, Tabbed windows, wide choice of order types and other analytical tools.

We feel that negative account protection, guaranteed Pips and guaranteed executable trades are the other most important benefits of using Forex Yard account.

Guaranteed Pips spreads: Besides the reasonable and competitive Pips spread, Forex Yard has a policy wherein the Pips spread remain constant irrespective of the market conditions. This is unlike some other brokers who may offer a spread of 2 Pips but whenever there is an extreme volatility in the market they revise the spread upward without any notice.

Negative balance protection: This feature does not allow your balance to become negative in case your position starts making loss. As soon as your account balance becomes debit then immediately the system squares off all the positions in hand. This is a great feature as it protects you from controlling your losses. There is absolutely no chance for you to go bankrupt.

Guaranteed executable Trades: You will always get what you see and what you click. It is really a good feature for right entry and exit points. As a matter of fact, our experience says that on many trading systems a window frequently pops up regretting that the price clicked by you is no more valid.

Shopping cart of Forex Yard does not end with Demo, Super-Mini and Pro account. For hedgers, businesses and high volume traders there are customized services like VIP services.

Look out for mouth watering promotions like cash-back, forex trading education and other offers from Forex Yard.

Forex Yard – Key Features Summary:

Feature
Details
Minimum Deposit
$100 (Pro Account recommended with $1,000)
Payment Forms Accepted
Credit Cards, Bank Transfer, PayPal
Typical Leverage
200:1
Pip Spread Values
3 pips on EUR/USD and 3-5 pips on other major currency pairs – These are fixed rates
Loss Protection
Negative Balance Protection – All trades will be closed if your account reaches zero meaning no debts to pay
Customer Support
24/7 Trained Support
Other Features
Guaranteed continuous quoting, Guaranteed executable prices, No slippage guaranteed, Easy-to-use platform

In conclusion: FOREXYARD is a broker where you can trade with confidence, where you can trade in a secure environment and where there are higher probabilities of generating profitable trades. We would sincerely recommend that starters must exploit the benefit of Forex Yard Demo account and Super-Mini account. Even for seasoned traders, it makes sense trying out Pro Account of Forex yard.

Click here to visit Forex Yard and open a SuperMini, Pro or Demo Account.


#2 Forex Broker Review – eToro

eToroLet us see where our second ranking forex broker “eToro” stands.

With an innovative and creative approach, eToro is well poised to grow further in the highly competitive forex currency trading markets. Among the online trading community, eToro has been placed as one of the best forex trading platform.

eToro offers everything that a forex trader needs. Easy to use forex trading software, competitive Pips spread, wide choice of forex currency pairs, different types of orders, high leverage ratio, negligible account balance, real trading experience with virtual money, various options for fund transfer, private and public chat and customer support team.

The most appealing part of eToro trading experience: Unlike a typical forex trading platform, you get to watch a variety of exciting themes and amusing graphics when your trades are getting executed. Execution of your trade in USD/JPY is displayed as a cowboy (USD) wrestling against a sumo (JPY). It is really a fun watching your trade execution as a race or wrestling. For traders who are glued to the online forex platform, for a change, this is an excellent entertainment over their monotonous trading environment.

Cash-back or bonus on your initial deposit is a feature recently started by few forex brokers. eToro is one such broker that gives you a bonus of 50% of your deposit amount subject to a maximum bonus of 200$. For traders starting on low budget of say 400$, the effective account balance is 600$ which means that he can go for more number of trades with a high leverage ratio.

Have a look at the key features of eToro to get an insight into the other details.

eToro – Key Features Summary:

Feature
Details
Minimum Deposit
$50 (plus 50% first deposit bonus up to $200)
Payment Forms Accepted
Credit Cards, Bank Transfer, PayPal, Western Union, Neteller or MoneyGram
Typical Leverage
200:1
Pip Spread Values
2, 4 and 6 pips
Loss Protection
Negative Balance Protection – All trades will be closed if your account reaches zero meaning no debts to pay
Customer Support
24/7 Trained Support
Other Features
Fantastic fun, graphics, exclusive trading tournaments, deposit bonus, invite a friend bonuses, online live help

eToro fun championship is a novelty concept introduced by eToro. Ii is nothing but a tournament to test your trading skills. Participants who generate highest profit during the week are awarded cash prizes. The tournament is open to the regular trading customers and also to new users. New users are allotted a notional sum of 2000$. If a new user wins any prize he is required to open the account in order to claim the prize. We feel that this is an excellent feature not only for the regular traders but also for new traders. You are getting a real market platform to practice forex trading and there are also chances of winning cash prizes.

By and large, eToro is an innovative forex trading broker suitable for all the segments of forex trading community and with special attention to retail section.

Click here to visit the most innovative Forex platform – eToro today

Learn how you can make big money with online forex trading and forex managed accounts. At eToro, novice traders can gain forex skill through its guides and tutorials. Register for a free demo now!


#3 Forex Broker Review – Easy-Forex

Easy-ForexWe have ranked Easy-Forex at the third rank of the best three forex brokers but does it mean that Easy-Forex is not worth any attention? No, it is not so, we would insist that you must know about this professional forex broker before you take any decision.

Easy-Forex, as the name suggests, is all about how easy online forex currency trading can become.

Easy-Forex gives you an easy to use forex platform. You can start with as low as 100$ deposit to start forex trading. With a leverage ratio of 200:1, you can buy or sell 2 mini lots of 10,000 units each. It is an excellent way to start with for a beginner or for a trader on low budget.

Easy-Forex offers you multitudes of features necessary for reliable and profitable forex currency trading. Personal account managers, live forex training, funds transfer with credit cards and other modes, hassle free registration and account opening, wide choice of currency pairs, limit and stop orders, visual trading, WYSIWYG (what you see is what you get), competitive Pips spread and satisfactory customer support.

You can choose from four different types of accounts Mini, Gold, Platinum and VIP depending upon your budget, trading style and risk capital.

Easy-Forex offers schemes like refer a friend, portfolio manager (managed forex account), and forex training related assistance. With Easy-Forex you are provided extensive technical analysis tools and other analytical tools for charting and trading strategies.

Easy-Forex does not offer you a demo account unlike other two forex brokers. They argue that demo accounts don’t serve any purpose other than giving a false sense of security. Success comes to those who are willing to take risk. Both the arguments are true but we feel that every human being falls under different psychological framework. Hence we suggest that depending upon your risk taking capabilities you should decide whether it makes sense to start with virtual money or real money.

Take a look at the summary of features.

Easy-Forex – Key Features Summary:

Feature
Details
Minimum Deposit
$100
Payment Forms Accepted
Credit Cards, Bank Transfer
Typical Leverage
200:1
Pip Spread Values
3-7 pips (with a wide range of pairs available)
Loss Protection
Stop-Loss – You can preset your exit points in a trade to limit your losses, negative balance protection is NOT available
Customer Support
Telephone & Email
Other Features
Rate freezing, Streaming quotes, Now accepts US and UK traders

Overall we feel that with its proven manifesto of easy forex, exciting forex, innovation, transparency and personal service, Easy-Trade is well placed in the highly competitive segment of forex markets.