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We rank brokers by considering all the important aspects and some of the key areas. Based on industry experience, our experience and user feedback, to make sure that we only recommend trustworthy brokers.
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Why follow TopTrustedForexBrokers Reviews?
At TopTrustedForexBrokers, our main goal is to provide you nessery topical information so that you can choice the best broker fits your needs. Here’s why you can trust our service.
we are a team of expert Forex traders with more than 15 years of financial market trading experience. During this long time we acquainted with many Forex Brokers and come across all the pros and cons sides. We know exactly what traders wants from a Forex broker and which broker truly provide it.
While reviewing a broker, we focus on every aspects of that broker. Including account types, commisions, fees, bonuses and more pros and cons. With help of our reviews you can select the best brokers based on your needs.
We putting our valuable time, money and enerjy to save your stress, time, and money. Our expert team spend so much time and affort to carefully reviewing each broker. We did it, so you don’t have to.
Now you can easily avoid scam and rogue brokers using our methodology. And we never recommand you unlicensed or disreputable brokers, moreover, they never pass our testing process.
What is Forex Trading?
Forex known as Foreign Exchange Market or the FX market. It is the world’s most traded market with a turnover of 5.1 Trillion dollars per day. For most of the newbies Forex seems always confusing so what exactly Forex is? Forex means foreign exchange market it is the place where you can trade currencies, trade means BUY and SELL, when you trade currencies you buy one currency and sell another at the same time because currencies are always quoted in pairs, the currency exchange rate fluctuates depends on various sectors, such as economics and geopolitics.
Currencies rise and fall against each other that’s where Forex trade comes, by forecasting the direction currency is likely to take you to have the opportunity to make a profit. In the past, only the rich people or banks had the opportunity to trade in the forex market, but now with the advent of different forex brokers, anyone can trade in the forex market from anywhere in the world by simply using a computer or smartphone.
Choose the perfect Broker
We have reviewed so many popular forex brokers and we recommended a few brokers with high-quality offerings for both beginners and professional traders. You can find the best broker that fits your trading need.
What are the different types of forex brokers?
One thing you should keep in mind when you open a retail Forex trading account is that there are three main types of Forex Brokers available to handle your Forex transactions. This represents an important decision, because the quality of service depends on the type of broker you are choosing, as well as transaction fees, commissions, and spreads.
There are three main types of Forex brokers
Each of these three different types of Forex brokers have a different way to handling transactions and executing orders.
No Dealing Desk
The No Dealing Desk type of forex brokers has a lack of dealing desk. It offers the best composite quotes obtained from the multiple forex quote providers that give the No Dealing Desk broker its liquidity in the forex market. Usually, each of these providers will post their best market with the NDD beoker, then the broker executes those transactions and watches and filles those orders.
Usually market maker brokers offer our customers a two sided market, that comes from a specialist forex trader operating as part of the broker’s own in-house dealing desk. If the price is dealt on, the broker will then end up taking the other side of any given transaction from their client by buying on their bid side or selling on their offer side of the quoted price.
The market maker’s objective is to capture some of the spread and to try and do sufficient volume on each side of the market to avoid having to get off accumulated risk with another professional counterparty.
Electronic Communication Network
ECN stands for Electronic Communications Network Forex Broker, these types of broker does not have its own dealing desk. Instead, the broker provides an electronic trading platform in which professional market-makers at banks, as well as traders and other forex market participants can enter bids and offers through their system.
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