Broker Review

Brokers Location Regulation Minimum Deposit Link
Cyprus CySEC, FSB 100$ review
Cyprus CySEC 500$ review
Cyprus ASIC, CySEC, MiFID 100$ review
Cyprus Cysec 100$ review
United States ASIC, FCA, CFTC, NFA, FSA, IIROC, SFC, CIMA, MAS 50$ review
Cyprus CySEC, IFSC $5 review
United Kingdom BaFin, FCA $50 review
Ireland ASiC, BVI, FSA(JP), FSB, MiFID $100 review

To be able to trade in any financial market, you need to open a trading account in an online brokerage firm. This is due to the fact that people can not access the floors of various trade exchanges. Imagine a scenario in which traders from around the world meet in exchange NYMEX to trade crude oil or have to go to Saudi Arabia to trade on the stock exchange Tadawul Stock. There would be complete chaos.

Even 20 years ago, trade on many stock exchanges was still carried out using the system of outcry, in which the representatives of brokerage firms have to make phone calls from their firms and to place trades on behalf of their clients, shouting orders, as they did. There are growing cases when traders, crumbling in these places of exchanges from pure exhaustion.

Technology has changed all this in the 21st century and about the same order where there was chaos. Today, trading assets in the stock, forex and futures markets are much more efficient and more seamless than they were. Most of these advances were sent by brokers or companies themselves, providing technical support to brokerage and stock exchanges.

When describing the best online brokerage companies, the indicators to be used will be as follows:

  1. Regulation
  2. Technology
  3. Customer Support
  4. Innovations
  5. Product offer

Here is a complete description of how the fulfillment of expectations in each metric gives the final experience in the symbiosis of a broker-trader.

  1. Regulation

At the recent IFX Expo 2017 in Limassol, Cyprus, the hot topic at the discussion sessions was a regulatory issue. Regulation has become a very big problem in financial markets. Industry experts believe that this is not enough for the brokerage regulation.

Brokers play a multifaceted role in financial markets. They can not use access to various financial markets, using the trading software that it offers to its customers, but also offers depositary money from traders around the world used as trading capital. When the trading capital serves the essence, there must be checks and balances to pay that this money is not tampered with. There must also be a process of ensuring transparency and fairness in trade and brokerage, especially with the participation of counterparties in the market. Then there should be a system of reimbursement and compensation in case of broker facing insolvency or going bankrupt.

This is where regulation takes place.

Regulatory agencies are located all over the world, and together they provide licensing and control of brokers working in the forex markets, options and stock markets. Some countries provide more stringent regulatory conditions than others. Thus, the problem is not always whether the broker is regulated or not, but whether they are “excessive” regulators. At present, some countries are already regulating the situation that they actually strangle those markets that they are trying to protect.

In some countries, the minimum starting capital is $ 25,000 to be able to open a trading account. If you do not have this money, why get stuck in this swamp when you can take your money to another regulated jurisdiction where capital requirements are less demanding? These are normative issues that need to be taken care of. Guarantee that your online broker is regulated, but not in a suffocating manner.

  1. Technology

Everything around the trading and online brokerage services today revolves around technology, from the execution process to the asset price data feed, the transfer of orders to carry out the trade. Therefore, traders must be sure that online brokerage provides them with advanced technologies that make the trading process simple and not difficult. There are many trading platform designed specially for online trading, but the choice of your trading platform requires some factors to be taken into account

The best technologies for online trading should do the following:

  • To be able to provide quality tools for trading, such as indicators and expert advisors. They should also be able to offer options for adding custom software or APIs for trading.
  • Should be geared to the needs of any trader.The requirements of a novice forex trader will be very different from the trader at the institutional level. Therefore, the market is currently saturated with a variety of platforms for both newbies and professionals.
  • Must be available on mobile devices and be able to supply the same tools and trading experience, as if a trader were trading from an ordinary desktop client.
  • Give traders access to an excellent navigation system on the platform, which displays the relevant information that traders want. Some online brokers have developed a system of several displays that a trader can choose. Some online brokers have taken another step to provide custom display functions so that traders can organize the display as they want.
  • You can not underestimate the role of educational resources for the continuous profitability of a trader. Online brokers realize more than ever before that their success depends on the success of their traders, which in turn depends on the quality of the educational and research resources offered by brokers.
  • Efficient and rapidly developing order execution is now a distinctive feature of the 21st century trade. Several quick algorithms and software processes that reduce the latency of the order process are now offered by several online brokerage companies.

Too much is put on the map of financial markets, and software technology can be of great importance.

  1. Customer Support

You always need to talk to brokers about something. These can be problems with the platform, problems with the payment system, or simply a simple query. Many brokers are located in countries that are far from their traders. This distance can be blocked by an online customer support service. Online chat is irreplaceable for the business of a broker. Many traders like to talk with the other side on the other side. It provides instant access and problem-solving. For brokers, simply having an email or phone number that calls and holds traders forever is an outdated customer support model. Twitter and Facebook handlers are now mandatory for every online broker.

  1. Innovations

Innovations stimulate markets. That’s why forex robots became a hit in 2006, when they first hit the market. Mobile applications also became a market changer, allowing traders to trade stocks, forex and options on the move.  Some brokers used existing products and turned them into something new and interesting for market participants. The role of innovation in today’s online brokerage offers can not be overemphasized.

  1. Product offer

The ability to offer exciting new products always attracts investors and market participants. That’s why cryptocurrencies, such as Bitcoin, Ethereum and Ripple, are taking to the market storms. A completely new industry is developing around them. Many traders who are simply tired of the same old material, begin to see that their trading interest is fueled by these new products. Such products increase trader participation and can significantly boost  revenues for online brokerage companies, as well as provide traders with additional ways to capitalize on the financial markets.

Conclusion

In conclusion, it is safe to assume that online brokers have evolved because of advances in technology that are designed to improve integration and make trading smoother. Online brokers have made the process of opening accounts, very easy to check these accounts and trade. Anyone who has a telephone and Internet access can trade.

Online brokers were able to expand their business to go beyond the traditional sphere simply by offering traders the means to buy and sell shares, currencies and options. This also gives traders an expanded trading experience and makes financial markets one of the most exciting ways to make money.

Some of the most exciting online brokerage services are listed on this website. Do not hesitate to look around and find the truth about best brokers currently operating in the industry.