The Forex market provides you with more flexibility to trade compared to any other market in the world. Being a global market, it remains open 24 hours a day for 5 days a week. This makes it a great choice for beginners who want to trade part-time in the Forex market. The transaction cost in the Forex market is also cheaper compared to any other market. Additionally, the Forex market is the best in the world in terms of liquidity. Hence, this means that the market is very active, and the currency pairs your trade-in can be easily exchanged.
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Who Is A Forex Broker
Creating an account with a broker is the first thing you will need to start trading in the Forex market. A forex broker is a middleman that buys and sells currencies on your behalf. The broker is an important element of the Forex market. These Forex brokers facilitate secure and speedy transactions in the Forex market at a very low transaction cost.
Moreover, the Forex broker also provides you with the option to trade in a wide range of currency pairs. Additionally, many of the well-known brokers in the market give the client option to trade from different mediums like mobile phones, laptops, and the Web.
Forex brokers have made trading in the forex market easier than ever. Many Forex brokers also have a learning section where you can learn about the Forex market. Knowledge is the best investment. Getting the right knowledge about the Forex market helps to reduce the risks and minimize the losses.
Forex brokers in the market can be categorized into 2 broad categories that are regulated and unregulated. Regulated brokers are those brokers that are regulated by a regulatory authority. Many good brokers in the market are also regulated by more than one regulatory authority.
There are many advantages of going with a regulated broker over a non-regulated one. A well-regulated broker in the market is more transparent in functioning than a non-regulated broker. They are also much better at protecting user interest. If a regulated broker tries to scam you, they are likely to get their license canceled by the regulatory authority. In this article, we are going to list some of the best European Forex brokers.
Best Forex Brokers Regulated In Europe In 2021
Pepperstone: Pepperstone is one of the best-regulated Forex brokers in Europe. Many consider this broker as the best Forex broker in Europe. The broker is regulated by three renowned and trusted European regulators that are FCA(UK), CYSEC(Cyprus), and BaFin(Germany). To be a member of these regulatory bodies, the broker must fulfill certain standards. These standards can be maintaining a minimum operating capital, having Insurance coverage, etc.
For example, the regulatory body CySEC requires its members to have at least 750,000 in operating capital. There are many advantages of going with the Pepperstone forex broker. It provides its clients with one of the most competitive trading costs in the market. Additionally, Pepperstone also provides over 22 training guides. The guides provided by Peppermint are a great resource for beginners and advanced traders alike.
IC Market: IC Market is another highly trusted Forex broker in Europe. With an average EUS/USD spread of 0.1, the broker is considered one of the best in the world. Due to high liquidity, the spreads can go as low as 0.0 pips. IC Market also offers an ultra-fast execution speed under 40ms. It is very easy to create an account on the IC Market. Moreover, It comes with a very user-friendly interface. Hence, it is a great choice for beginners. IC market is a very active broker with over 150,000 clients globally with a trading volume of $830 Billion in September 2020.
IC Market offers 3 different types of accounts to traders. These account types are Standard, Raw Spread, and cTrader Raw Spread. The minimum deposit required by the IC Market for all three types of accounts is $200. IC Market also has a very competitive trading cost in the market, and it is free to deposit and withdraw money. The Forex broker is based in Australia and is regulated by many regulatory bodies like Cyprus Securities and Exchange Board(CySEC).
The CySEC is a trusted and well-known regulatory body based in Europe. Hence, IC Market is a great option for people who are looking to trade Forex from Europe from a European regulated Forex broker. Apart from that, the IC Market is also regulated by the Australian regulatory body, ASIC.
XTB: XTB is one of the most traded Forex brokers in Europe. The broker ensures a high level of security for its clients while making Forex transactions. XTB was founded in 2002 and is regulated by tier-1 jurisdictions. In Europe, it is regulated by some of the most trusted regulatory bodies like FCA(UK) and CySEC(Cyprus).
Being regulated by some of the most trusted regulatory bodies makes trading with XTB highly secure. Apart from that, the broker provides astounding customer services. It is a very useful feature if you come across any problems while trading in the Forex market.
Apart from Foreign exchange, XTB provides the option to its users to trade in many assets like cryptocurrencies, stocks, and commodities. It provides its clients with the option to trade with as many as 49 Forex pairs. Apart from that, XTB provides its users with two different platforms for trade, namely MetaTrader 4 and its Flagship platform, the xStation. The xStation platform comes with a great user interface yet very feature-rich and powerful tools to execute transactions.
Markets.com: Markets.com is a very popular Forex broker that is regulated by multiple Forex brokers. It is regulated by highly trusted regulatory bodies in Europe like the FCA and CySEC. The FCA is a tier-1 regulatory body that has many requirements for a broker to comply with. It helps to protect the interest of the traders and secure them from getting scammed by brokers. Apart from that, Market.com itself is a very trusted Forex broker in Europe with a very large trade volume.
Market.com also provides exceptional customer service to its customers. Hence, it becomes easier to get your issues resolved by just making a phone call to the broker. Being regulated by so many regulatory bodies ensure that the transaction you make with the broker is highly secure. There is also a very little chance of losing your money even if the brokers go bankrupt.
Conclusion
Forex brokers play a very essential role in the functioning of the Forex market. A regulated Forex broker provides much better security as compared to a non-regulated broker in the market. It also reduces your chances of getting scammed in the Forex market. It is always great to go with Forex brokers that are regulated by a highly trusted regulatory body.
FCA, CySEC, and BaFin are some of the highly trusted regulatory bodies in Europe. Hence you should always go with a Forex broker that is regulated with one or more of these regulatory bodies to reduce the chances of frauds and scams in the market.
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