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Best Forex Brokers 2020 | Top 10 FX Brokers | CoinNewsSpan

You will need the best forex broker if you are planning to trade in Forex. Executing trading with the most trusted Forex brokers is critical for success in global currency markets. As an investor or currency trader, the user might have specific needs related to the platform, research instruments they offer. There are several brokers…

You will need the best forex broker if you are planning to trade in Forex. Executing trading with the most trusted Forex brokers is critical for success in global currency markets. As an investor or currency trader, the user might have specific needs related to the platform, research instruments they offer. There are several brokers for forex who help people in forex trading stocks, and commodities.

Benefits of Forex Trading

For the past two decades, the Forex trading sector had grown immensely; had offered opportunities for trading. With this, more people came to the accessibility of the financial markets where they need to choose suitable markets to trade. A trader should consider the advantages and disadvantages of the currency market before they proceed with forex trading. In case if you are a new trader, you should have a good knowledge of it before committing to it. The user should do their research and look out for an expert’s knowledge to understand the forex markets and then proceed with trading. Vanguard is one of the largest investment firms as it has over $5.3 trillion of assets & provides one of the best ETF trading services.

Let us discuss some of the benefits of Forex Trading –

  • Global trading Market: Forex (foreign exchange) market is one of the largest financial markets around the world. It is growing day by day; around $5 trillion on an average are traded daily, starting with new to experienced traders participating in the forex market. Hence we can say that the forex market is traded globally. We get to know from the Multibank Group review that Multibank Group is one of the global Forex & CFD brokers that provides trading services on multiple countries.
  • All type of traders: Forex trading is not only for experts but also used by all types of users. Based on the review, the IQ Option app has more than 48M users who trade regularly on this broker. Getting started in Forex is very easy and does not cost more money, especially when it is compared with options or stocks to trade; it is adopted by several users worldwide.  UFX Global is one of the trading brokers who provide its services to all around the world. Besides, without having the largest startup capital, this trading can be accessed by all individuals.
  • Liquidity: The forex market is huge, and it always associates itself with the word “liquidity” which implies that even though large volumes are traded at any time, the trader must not wait to buy or sell. There is always someone to trade on the Forex market. It can also be automated. Based on Libertex review, the broker provides both automated trading & support several currency pairs for its traders.Even though there are several trading pairs, one of the major ones is USD / EUR.
  • Decentralized: When we take into consideration the size of the market and its uses, we can say that not a single institution or a trader can control the market prices for any period. Further, the market adjusts itself accordingly. The market is fully decentralized, and there are no third parties. The user can trade directly with another trader in the market, and retail forex broker associates facilitate it. The market is directly influenced by the economy, not by the company or a person.
  • Several trading opportunities: Even though the market is going upwards or downwards, the user can trade by using their trading strategies. The user can find an opportunity to trade in any market and can trade with their selected currency pairs according to USGFX review. Besides, few users can achieve profit even though there are high volatile periods, and it carries more risk.
  • Trade round the clock: The forex market is open 24 hours with 5 days a week, and it never sleeps. The trader can trade whenever they choose to. The trading begins with the Sydney session, and it draws to close with the New York session, which means it works round the clock. Even though the trader is active or passive, they can trade at their convenience; it can be morning, afternoon, or night. In the market, there are many types of trading brokers like the Olymp Trade app, which provides FTT (fixed time trade) to its traders.
  • No Commissions: Concerning forex trading, there are no trade commissions or low charges for a large volume of trades. Exness broker is one of the trusted brokers who doesn’t charge any commissions on the trading.It does not charge clearing or exchange fees. Retail brokers earn their income by way of spreads (which is the difference between the bid and ask price). Reputed brokers offer highly competitive spreads by reducing the trading costs and maximizing the trader’s profits.
  • Accessing Leverage: Several Forex brokers offer leverage, which means the user borrows money from the broker to trade in addition to the deposited money. You can do leverage trading through Vantage FX International & its leverage is up to 500:1.This is considered as one of the most powerful tools and attractive features to trade on it.
  • Demo Account: Several Forex brokers offer a free demo account to the users to practice and to test their trade strategies. Practicing with a demo account is like real trade, but the users can trade with virtual funds. The AxiTrader demo account provides you real trading experience through its demo account so before starting the trading you get an idea about how to trade. The demo account is mainly used by the traders to improve their trading skills by using real market conditions without using real funds.

How to identify and choose the Best Forex Broker?

Identifying and choosing the best Forex broker needs careful planning; you should have goals in investing in foreign currencies. We have given below a few tips to identify and how to choose the best broker –

  • Every Forex broker that offers Forex Investments has its pros and cons. One of the most important factors to consider is the regulation and the security level offered by these broker companies and the transaction fees. Alvexo broker is one of the secured trading brokers as it is regulated by the top financial authorities. Security features differ from broker to broker. Few brokers have strict security measures like two-step authentication, which keeps the trader’s account safe from hackers. Bityard provides SSL encryption security on its platform and it used cold storage to store cryptocurrencies.
  • Several Forex brokers are regulated. Further, U.S brokers like & others are regulated by the Commodity futures trading commission(CFTC) and the National futures association (NFA). The trader should keep in mind that not every broker is regulated, and they should research well about the unregulated brokers before proceeding with them.
  • The user should keep in mind that the forex brokers and their trading platforms have different minimum deposits and transaction fees. Before involving with a platform, the user should devise a budget for the Investments and several other factors to get involved with a broker.

Besides, choosing the best investment style can determine which broker can be best suited for you. Given below, we have compiled a list of top forex brokers for your understanding.

1. IG Forex broker

IG Forex broker has been one of the best brokers for Forex and CFD; they are in the trading business for more than 40 years. The company provides access to worldwide exhaustive product lines, including stock indices, Forex, stock sectors, individual equity, cryptocurrencies, commodities, bonds and offers interest rates on various professional-grade mobile and web-based trading platforms similar to the Tickmill broker.

Forex brokers – About IG Platform

Minimum Account Requirement

IG’s minimum initial deposit requirement is 250 pounds or currency equivalent. Standard accounts have a $1 minimum trade amount and a maximum of 300 dollars per option limit. Besides, IG Forex broker does not have a minimum deposit for using bank transfers; yet it has a $300 minimum deposit for using Paypal and credit or debit cards.


IG uses its size to offer users competitive pricing, irrespective of the product traded by the user. For US markets they charge $10 per trade, for European markets they charge 10 pounds or 10 euros per trade or 0.1 %. Also, they charge an inactivity fee of $12 for a month after inactivity of 2 years.

Best Suited for

IG is one of the best forex brokers and biggest CFD brokers, which is based on trading revenue, having the largest number of active financial spread across betting accounts in the UK, and offers significant operations in South Africa. CFD and retail Forex traders who wanted access to the forex market will find IG an incredible choice. It is recommended that users have any experience level and looking for the best platform that is easy to use. A bit of investment advice, even though there are several forex brokers offering tutorials and demo account, it is highly recommended that the users do their research on the internet and read about the various experiences offered by the experts to avoid risk of losing money.

Let’s see a few Pros & Cons of this Broker –

  • Leading web trading platform
  • News and research are available by launching external applications or webpages
  • Good Educational resources
  • Limited product portfolio
  • Easy withdrawal and deposit options
  • Customer care needs to be improved
  • No Minimum amount
  • CFD Fees are high

2. Oanda

Oanda forex broker is considered as one of the best forex brokers and earliest pioneers in the retail industry.  Oanda broker has built its reputation, technology, product offerings, and the customer base and serves customers all over Singapore, UK, Australia, and Canada.The company’s Inception dates back to the 1990s, and it had been considered as a leader in retail, providing the latest services in trading technology to a worldwide customer base. It also offers services on foreign exchange for the benefit of its users.

Oanda – Broker Platform

Oanda – Broker Platform

Oanda – Broker Platform

Minimum Account Requirement

Oanda does not require a minimum initial deposit; It makes sure that day traders and traders who are having limited capital do not have to deposit more money in case they cannot afford it. Also, there is no minimum account size which allows the traders to open an account with $1, by making it the best forex brokers to develop and test FX trading strategy.


Oanda charges very low Forex and CFD fees; further non-trading fees are also low. The withdrawal fees for bank transfers are quite high and have average no trading fees. There is no deposit fee; the withdrawal fee for credit or debit cards and Paypal is low, the bank withdrawal fees are quite high. When the traders are more than two years inactive, Oanda charges $10 per month.

Best Suited for

Oanda forex broker is best suited for established traders and who would like to test their trade strategies in the forex market without much investment capital. It is also recommended for high-level users who are looking for great research tools and a user-friendly platform.

Let’s see a few Pros & Cons of this Broker –

  • Easy to use trading platform
  • Customer service needs to be improved
  • Simple and easy account opening
  • Bank withdrawal fee is high
  • Offers only Forex and few CFDs
  • This broker is regulated by the Monetary Authority of Singapore, CFTC, IIROC, FCA, and AIC
  • Research and news feed needs to be improved

3. is one of the best forex brokers offering a high-level forex platform used by the traders.’s parent company is Gain Capital, which has been listed in the stock exchange. Over recent years, has been into revamping and upgrading its trading platforms and its related applications. Consequently, the company’s technology has become a core strength in trading Forex and making money. brokers also offer the users fantastic research tools, and apart from CFD and forex market, it also offers several currency pairs like major forex pairs, Bitcoin for trading outside of the US. This broker offers more than 4,500 CFD instruments on its platform. – forex broker – forex broker – forex broker

Minimum Account Requirement

The traders require a minimum deposit to cover the initial cost associated with creating an account. The minimum initial account deposit is 50 units of base currency on the trader’s account. broker offers several currency pairs and different account types for the benefit of its user. Besides, the customer support offered by is dedicated, and the users can contact any time during the day to solve their issues.


This broker has very low fees for stock, Index, CFDs, and they offer several order types. Moreover, stock CFD fees are quite high, and also, it charges inactivity fees, which are around 15 dollars of base currency per month, for one year or more. minimum deposit is $100 to open an account is lower than other top trading brokers.A bit of investment advice, the trader should do their research before investing money, as it is prone to higher market risks.

Best Suited for broker offers competitive pricing, a full-feature platform to trade, and exhaustive market research, a supportive mobile app for its traders. Webull broker is famous for its Webull app as it is a mobile application broker & provide 0 commission ETF trading to its traders.It is best suited for traders with all experience levels, and also it is best for traders who want to do forex trading, who are looking for good research tools and lower fees.

Let’s see a few Pros & Cons of this Broker –

  • Supports a large number of currency pairs
  • Limited tradable assets
  • Lower fees on Forex
  • Does not support Meta trader5
  • Offers diverse research tools
  • Limited portfolios of products
  • Competitive pricing
  • High CFD fees
  • Supports Meta trader4
  • Navigating educational resources are not easy

4. Saxo Bank

Founded in 1992, Saxo Bank is a Danish investment bank that offers online forex trading and Investments and operates in South Africa. The company is globally regulated by various financial authorities, including the Danish financial services agency (FSA) and the UK financial conduct authority (FCA). Saxo Bank is referred to as a global service provider, and in several regions, its subsidiaries are present as separate legal entities.

Saxo Bank – Platform

Saxo Bank – Platform

Saxo Bank – Platform

Minimum Account Requirement

For a classic account, the minimum amount of money to be deposited is $600 in the UK. Further, the minimum deposit can be based on the trader’s residency country and the type of account they choose. For example, the minimum account requirement for middle Eastern or central European traders is $10,000, and for Australian or Swiss traders is $2,000.


Overall, Saxo Bank is the best forex broker offering an average trading and non-trading fee. Saxo bank offers three types of accounts and several currency pairs; the user can choose from any of the accounts as per their convenience. The fees for mutual funds, stock, Index, CFD, Forex are low, while for real stocks, stock CFDs or ETFs are average, and for bonds, futures and options the fees are high.

Best Suited for

Saxo Bank offers great services and is best suited for traders who can afford USD 10,000 or GBP 500 (for the UK) as a deposit. Saxo Bank provides competitive pricing, great research, reliable customer service, an excellent platform, and more than 40,000 instruments for the trader to access. It is highly recommended for traders and investors similar to the Firstrade, who are looking for solid research and experience an easy-to-use trading platform to make money.

Let’s see a few Pros & Cons of this Broker –

  • Offers a wide range of product portfolios
  • High Minimum deposit
  • Good trading platform
  • Does not offer 24×7 live chat
  • The platform is fully digital
  • High fees for Futures, bonds, and options
  • User-friendly interface
  • Slow account verification
  • Available in several countries


Forex Capital Market or FXCM is one of the top UK forex brokers providing CFDs and Foreign exchange. If you want to trade in cryptocurrency CFDs then InterTrader is the best broker for you. It was established in the year 1999, and its main shareholder is the well-known Jefferies Financial Group. FXCM’s parent company had been listed on the New York stock exchange, which has an investment banking background. FXCM has a long track record, and top-class financial authorities regulate it like Australian ASIC and the UK FCA.

FXCM – Platform

FXCM – Platform

FXCM – Platform

Minimum Account Requirement

The minimum account requirement to access FXCM is $50, provided the trader chooses to access a standard account. Active trader accounts need a $25,000 minimum deposit, where there are low commission rates, and the spreads are average, which provides competitive pricing for traders who are trading high volume shares. FXCM forex broker offers three account types for its users.


FXCM forex brokers offer average non-trading fees and low trading fees; there are no deposit, account, and withdrawal fees, yet the trader has to pay a $50 fee for one year of inactivity. Even though many brokers offer outstanding service for its traders, many accounts lose money because of the high risk that revolves around the market.

Best Suited for

FXCM forex brokers can be best suited for multiple traders like algorithmic traders, high volume traders, and overall traders who want to access robust trading tools and quality market research, They might find FXCM to be the best bet. It is highly recommended for Forex traders looking for easy funding, withdrawals, and account opening. The users should be extremely cautious while investing in forex markets, as many accounts lose money while trading and high risks are involved.

Let’s see a few Pros & Cons of this Broker –

  • Simple and easy account opening
  • The mobile platform needs to be improved
  • Good technical tools
  • Less product portfolio
  • Educational content is good
  • Does not cater to US clients
  • Several free trading tools are offered
  • Low minimum deposit requirement

6. City Index

Founded in 1983, City Index is a global CFD and forex broker. City Index is the brand name of GAIN capital, which had been listed on the New York stock exchange. Gain Capital is the parent company of City Index. Top tier financial authorities had regulated city Index. City Index offers its traders an exhaustive range of products. Further, Multi-asset traders use this platform for great platform options, competitive spreads, great research tools, and dedicated customer service. According to AvaTrade review, AvaTrade broker has a robust customer support to provide the best solution to its clients.

City Index – forex platform

City Index – forex platform

City Index – forex platform

Minimum Account Requirement

City Index forex broker does not ask for a minimum deposit if the trader deposits funds through bank transfer and Paypal. It is a great advantage of City Index as many trading brokers like the TradeStation app & other brokers charge a minimum deposit on its platforms.If the trader selects a debit/credit card, the required minimum deposit is $100. This is considered a low amount because there are few forex brokers where the minimum requirement is $2,000 or more.


City Index offers low fees for stock Index CFDs and Forex. On the contrary, stock CFD fees are high, and it also charges inactivity fees. The minimum commission rates offered by City Index are 10 pounds or $10 or 10 Euros.

Best Suited for

City Index forex trading broker has 30 years of experience in the field, and it provides traders with Contracts for Difference (CFDs) and also spreads betting derivatives. This broker is recommended for CFD and Forex traders who are looking for good research tools and low Forex fees.

Let’s see a few Pros & Cons of this Broker –

  • Offers diverse educational and research tools
  • Not the best platform for beginners
  • More than 12,000 instruments to trade on
  • No two-step login; traders might be prone to risk of losing money
  • Web-based trading platform
  • High CFD fees
  • Easy customization of charts
  • User-friendly interface

7. TD Ameritrade

Founded in 1978, TD Ameritrade is one of the biggest US-based foreign exchange trading brokers. TD Ameritrade brokers have a long track record, and it is listed on a stock exchange. It comes from a banking background where it discloses its financials, and top-class regulators regulate it. It also offers a wide range of tools like for beginners, experienced traders, and investors to access on its platform.TD Ameritrade is located in Omaha, Nebraska. It offers several investment accounts for its traders, and an easy to use the platform, great market research, $0 trades, great educational materials for beginners, and dedicated customer service.

Forex brokers - TD Ameritrade Platform

Forex brokers - TD Ameritrade Platform

Forex brokers – TD Ameritrade Platform

Minimum Account Requirement

There is no minimum deposit required to open and access the account with TD Ameritrade, but it requires a $2000 deposit for margin and options privileges irrespective of any promotional offers.


TD Ameritrade offers free stock and ETF trading. Moreover, bond, forex, and option fees are low, yet they charge high fees for mutual funds. They offer zero commission like XM Broker & other trading brokers for exchange-listed US Stocks.

Best Suited for

TD Ameritrade offers large investment resource tools, and it is highly recommended for traders and investors who are looking for good research tools and great trading platforms.

Let’s see a few Pros & Cons of this Broker –

  • Low trading fees
  • Can trade only in US markets
  • Best desktop trading platform
  • Slow account opening
  • Good Customer support
  • Credit/debit cards and electronic wallets are not supported
  • Free ETFs and stocks

8. Interactive Brokers

Interactive Brokers connect with any electronic exchange globally, so the traders can trade options and futures, equities across the world anywhere, anytime either on their desktop or on their mobile. Interactive Brokers was founded in 1978 and is considered one of the biggest US-based discount brokers. If you are an Indian resident? then Zerodha brokerage is best for you as it is one of the best discount brokers in India. This broker is regulated by various financial authorities worldwide, which include the UK financial conduct authority (FCA) and the US securities and exchange commission (SEC). Moreover, this broker is an ideal choice for active traders, especially for traders who are looking for a cheap volume pricing setup.

Forex brokers - Interactive Brokers

Forex brokers - Interactive Brokers

Forex brokers – Interactive Brokers

Minimum Account Requirement

The account opening process for Interactive Brokers is fully digital, and the minimum account requirement is also low. DEGIRO account opening is not fully digital but its account opening process is simple & fast compare to other brokers.Moreover, it charges $2000 minimum if the trader would like to trade on a short sale or margin trading.


Interactive Brokers forex broker offers very low trading fees, and for US customers, ETF and stock trading is free. Also, it charges high inactivity fees for non-US residents.

Best Suited for

Even though many brokers offer several advantages in the forex industry, Interactive Brokers lead the industry by offering low trading costs for experienced traders who want to trade with foreign exchange. It offers excellent research tools and an exhaustive selection of tradable securities, highly recommended for traders looking for low fees with a professional environment.

Let’s see a few Pros & Cons of this Broker –

  • Offers a wide range of product portfolios
  • Complex trading platform, prone to the risk of losing money
  • Several research tools
  • Account opening process is complicated
  • Regulated by authorities
  • Offers depositing and withdrawal options only through bank transfer
  • Pricing is low, especially margin rates
  • Inactive accounts are subjected to maintenance fees

9. eToro

eToro was founded in 2007, and it is headquartered in Cyprus like AAATrade; it is one of the leading forex brokers currently available in the market. It focuses on social and copies trading, which has led to its rapid growth and now has several millions of clients globally. This platform offers services in the cryptocurrency sector. Its USP is copy trading, which allows the retail account holders to copy the trades and their trade strategies of the most successful clients in real-time. Even though several brokers are offering the same capability, none have come even close to eToro.

eToro – Best Forex Brokers

eToro – Best Forex Brokers

eToro – Best Forex Brokers

Minimum Account Requirement

The minimum deposit account requirement depends on where the trader is based, which usually ranges from $200 and $500 and can go up to 10,000 dollars. In several cases, the required minimum deposit is $200 or more. It is different for the following countries –

  • $10,000 for Israel
  • $50 for residents in the USA and Australia
  • $500 for residents of China, Russia, Taiwan, Macau, and Hong Kong


eToro has low CFD; on the other hand, Forex trading eToro fees are high, and also it charges withdrawal and inactivity fees. Also, it charges a flat $5 fee on every withdrawal; the minimum withdrawal amount is $50.

Best Suited for

eToro’s unique strategy is copy trading, which helps the traders to copy other investor’s trades. It is highly recommended for traders who are interested in social trading.

Let’s see a few Pros & Cons of this Broker –

  • Regulated broker
  • Does not have MetaTrader platform
  • Innovative mobile trading platform
  • Only one account base currency
  • Offers a wide range of products
  • Withdrawal is a slow process
  • Easy and simple account opening
  • High fees for Forex
  • Impressive charting
  • No live news streaming

10. Plus500

Plus500 is one of the leading CFD and forex brokers that support Indices, stocks, cryptocurrencies, and Forex. Moreover, it offers commission-free brokerage charges and very low spread rates and offers fast trades. Plus500 offers its support on complex trades, which includes negative balance protection and offers extensive educational materials. This broker is located in Israel and is regulated by financial conduct authority in the UK (FCA). AnalystQ is one of the best trading brokers who provide trading services to the 170+ countries.

Plus500 – One of Best Forex brokers

Plus500 – One of Best Forex brokers

Plus500 – One of Best Forex brokers

76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Minimum Account Requirement

Plus500 minimum account requirement is $100 for credit or debit cards and electronic wallets. It charges $500 for bank transfers. Further, trading at the Plus500 platform is conducted on open positions on various financial instruments.


Plus500 offers low trading fees and average non-trading fees. It also charges inactivity fees where it is applied if the trader is not logging in. Besides, it derives its revenues from the spreads charged on more than 2000 assets. Trading costs for currency pairs are very competitive, and this broker charges no commissions. Some brokers like E*Trade brokerage fees are different based on the trading instrument but it doesn’t charge inactivity fees.

Best Suited for

It offers traders more than 2000 trading instruments; it is highly recommended for experienced traders who are looking for great user experience with an easy to trade platform. It is also recommended for users who are aware of CFD trading risk and for traders who are looking to trade on cryptocurrencies as well. Also, if you want trading only on cryptocurrencies? then StormGain broker is the best option for you.

Let’s see a few Pros & Cons of this Broker –

  • Low trading fees and no commission
  • Inactivity fees are charged
  • Easy to use trading platform
  • Limited product portfolio
  • No withdrawal fees
  • Minimum research tools
  • Bitcoin, Ethereum and several cryptocurrencies are offered
  • Low spread costs
  • Listed on the stock exchange

Wrap Up

The user should consider several factors and should take their time before choosing a Forex broker because a wrong decision might cause them heavy loss. As per the review, reputable brokers offer users useful resources, low trading costs, and they permit traders to access their educational materials. These brokers will handle the trader’s money and help the users open an account with them, and also they will also help them generate more profits by using their trading platform.


1. How to find the best forex broker for beginners?

There are three basic ways to find out the best Forex broker. The first way is, to find out whether they are regulated and offer a user-friendly platform. The second way is that they should provide various educational resources, and the third one is they should offer quality market research.

2. Do you need a broker for Forex?

The Forex broker’s important role is to provide the user with easy access to the Forex market and help them make more profits. Several brokers will help the user about how to trade and learn about markets. Various types of Forex brokerage are available currently, starting in different sizes, and the trader can choose from any one of them.

3. Is forex trading legit?

Forex investing is a legitimate process, and it is not considered as a scam. Several scams have been associated with Forex trading. The user can use Forex as a real business to generate more profits. Moreover, with regulators’ intervention, they have several protections in place, which has improved the market significantly by making scams rare.

4. What is a Forex Broker?

When the user plans to trade foreign currency, they can use a Forex broker which is also known as a currency trading broker, to execute the trades. When the user trades in Forex, they buy or sell in currency pairs such as EUR/USD. The markets are open round the clock, 24 hours a day, 5 days a week.

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AvaTrade introducing 3 new crypto pairs

crypto trading with Avatrade

AvaTrade introducing 3 new crypto pairs – updating 3 others

AvaTrade has yet again improved their cryptocurrency trading offering.

AvaTrade is introducing three new cryptocurrency pairs: NEOUSD, EOSUSD & MIOTAUSD in addition to the 15 crypto assets already on offer.

These new pairs have been available since July 1st, 2019 and provide an excellent opportunity to diversify your clients’ portfolios and increase their exposure to this vibrant 24/7 market.

AssetTypical SpreadLeverageMarginMin Nominal Trade Size
NEOUSD1.5% Over-market2:0150%10
EOSUSD2% Over-market2:0150%10
MIOTAUSD1.5% Over-market2:0150%10

To unify their cryptocurrency instrument labels, They are relabeling their existing Ethereum, Ripple & Litecoin instruments, by replacing the existing instruments with new USD labelled ones:

AssetOld SymbolNew Symbol

These new pairs have also been available since July 1st,

The trading conditions for each one is identical to those of the older respective assets they replace.

Effective immediately, new positions are only available on the new pairs.

Avatrade Clients will not be able to open new positions on the old assets, but those already open will remain unaffected until July 29th.

Existing positions on XRP, ETH and Litecoin-mini that remain open on July 29th will be automatically replaced with corresponding positions on the new pairs, , at the same opening price and at no cost to clients.

as any broker that values their clients would do , Avatrade makes sure that the clients will not be affected by the change.

Visit Avatrade NOW

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Neteller Launches Cryptocurrency Exchange Service

Neteller Launches Cryptocurrency Exchange Service

Neteller  one of the most known Digital fiat currency wallet provider , has started allowing its users to buy, sell, and hold cryptocurrencies including BTC, BCH, ETH, ETC, and LTC.

They do this on the large scale with a pilot in 10 countries and soon another 50 countries to join . They understand that if you do this effort it will only succeed if you can do this on a global scale.

Neteller and Cryptocurrencies

Neteller is a service which is operated by Paysafe Financial Services Ltd.,



founded in 1999, Paysafe Financial Services entered the market with the mission to provide an online alternative to the known traditional payment methods.

Most of the traders aiming us now neteller as one of the companies through which we made our deposits and if we had any profits also our withdrawals. A couple of years ago they left the Forex and Binary industry behind since the charge-back issue became just too expensive.

But as any companies knows, if you do not adept you die. The binary option market is all but dead and the Forex industry has moved also into the directions of the cryptocurrencies. thus, neteller understands that this is where the future is.

So Lasts week they announced that they are now offering a wallet with buy and sell cryptocurrency options.

As of today, Neteller users can buy, hold and sell cryptocurrencies via a recognized cryptocurrency exchange including bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin, purchased using any one of 28 fiat currencies available in the Neteller wallet.

It may not seem so exciting but for many users that love this service it actually is. More and more currencies will be added making them an true exchange in the near future.

Now one is able to fund their neteller account through many different means (Mobile, Epay, Paysafecard, local bank deposits, and bitcoin)

We think that will make the threshold for many people, who would want to buy or sell cryptocurrencies, lower. This in return is a good thing for the overall acceptance of the cryptocurrencies in the mainstream of every day life.

Conditions for buying and selling cryptocurrencies through Neteller

The rates offered are somewhat in the lower middle of the current market making them go for the save route. The average market rates on the major cryptocurrency exchanges differ all in all not that much anyways, as this is not the main reason to choose to buy Bitcoin through Neteller

The minimum cryptocurrency purchase or sale amount is “approximately equal to 10 EUR,” the firm clarified, adding that the maximum amount depends on the transaction limits associated with each account.

When You open an account with Neteller you have to choose your default currency. This is of course for most people in accordance on their geographical locations, people in Britain will go for the pound most Europeans go for the euro and pretty much the rest of the work goes for the US Dollar, thou other currencies are available

The fee is 1.5 percent for purchasing and selling cryptocurrencies from wallets with EUR or USD as the default currency.

The fee rises to 3 percent for wallets with other default currencies.

Neteller  | Why is this a good move for neteller and one that we should expect from other online Payment providers as well ?

At this moment till last week Neteller users can pay, get paid on thousands of sites, and send money around the world through their system.

The company claims to have “millions of point-of-sale, ATM and online locations” for users to withdraw or spend their cash.

Last July 25, Paysafe ( which as you remember is the company that owns Neteller and Skrill)  announced that another digital wallet provider in its group, Skrill ( formerly known as moneybookers), started allowing customers to “instantly buy and sell cryptocurrencies, including bitcoin, bitcoin cash, ether and litecoin, using any one of the 40+ fiat currencies available in the Skrill wallet.”

We could now see that this was like their test run on this concept.

We do not know the numbers that Skrill produced since they offered this service but it must have been encouraging enough for Paysafe to include their flagship brand in this endevour.

We will see where this leads but we are hopeful that this is the next step in global acceptance to the cryptocurrency revolution. Let me know what you think

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The basics of trading that one should know

The basics of trading that one should know

Things you should be aware of before you start

The currency trading industry and now also the cryptocurrency trading industry have gone through enormous volatile times the last couple of years. Now with trump and its trade wars. The fast rise and somewhat recline of the cryptocurrencies and the fast pace of international politics and economies that create high rises and steep fall of the currencies.

So what does it all mean and what can you do before start to trade on these news headlines.

Good brokers like LegacyFX and UBCFX provide the traders with the latest market news and updates on a continuous basis but if you are new to trading you still have no idea what to do with this.

You start by understanding that the involves a high degree of risk, including the risk of losing you hard earned money. Besides the ones that were lucky enough to have bought Bitcoin a couple of years back and cashed in in the end of 2017, most people don’t get rich overnight.

You have to understand that you only trade with money that you are able to lose, going hungry because you want to open a trade is not the right wy to go about it.

So, What is Forex?

You should by now understand that the value of currencies goes up and down every day.

This in general becomes apparent the moment you go on vacation and what you bought last year with your money now is not the same amount you get today at the exchange.

This is on a large scale, what a lot of people do not know is that there is a foreign exchange market – or ‘Forex’ for short – or “FX” for even shorter, where you can potentially make a profit from the movement of these currencies.

The most known Trader is George Soros who made a billion dollars in a day by trading currencies. This is of course on a scale that we are not able to reach and you need a huge amount of money to begin with. Still he made a billion in one day!!

The internet has played a huge part in making trading in currencies accessible for the masses. You also do not need huge amounts of money to actually do this. Now keep in mind that if you make 10% profit on your investment but the investment was just $50 you basically just end up with $55. still no bank will give you 10% interest on your money.

Many people and I am talking millions are now trading every day, most do this on the side and don’t do this as a full-time job, but there are today enough people that are full time traders and making enough money to live comfortably.

Retail forex market needed Brokers

The Forex market for the retail market was born, it started around 15 years ago to become more serious as technologies advanced and the stream of information became almost instant, this is important for trading as one second can make the difference between profit or loss.

So, the moment the technology was there the people that wanted to trade were there all that was needed were the Forex brokers that offered the platform for trading.

There are latterly hundreds of companies of not thousands that offer this service and there are good ones like LegacyFX and there are scams (these tend to not last long)

Forex explained in short

The Forex market is the largest financial market on the planet and has been for many years now.

Its average daily trading volume is more than $4 trillion. (just let that number sink in for a second). Of this total amount around 5% is the retail market meaning traders like you and me. Still 5% of 4 Trillion is still a number with a lot of zeros behind it.

If you compare that with the New York Stock Exchange, which only has an average daily trading volume of $55 billion. You truly see the size.

To give you another example:

if you were to put ALL of the world’s equity and futures markets together, their combined trading volume would still only equal a 25% of the daily Forex market. Insane right?

Why does this even matter?

It matters because there are so many buyers and sellers that transaction prices are kept low. To explain how trading the Forex market is different than trading stocks, here are a few major benefits.

  1. Most Brokers don’t charge commissions – you pay only the bid/ask spreads.
  2. There’s 24hour trading – you decide when to trade and how to trade.
  3. You can focus on your currencies and become experts in only those pairs that you follow instead of following and selecting out of 5000 stocks
  4. You can trade on leverage, (something to be very aware of as it can magnify potential gains but also your losses).
  5. Forex is accessible for almost everyone– you don’t need a lot of money to get started
  6. In the Forex market you can trade on Demo accounts to learn before you commit your money

How is Forex traded?

The mechanics of a trade are virtually identical to those in other markets. The only difference is that you’re buying one currency and selling another at the same time.

This is also the reason as to why the currencies are quoted in pairs, like EUR/USD or USD/GBP.

The exchange rate represents the purchase price between the two currencies.


The EUR/GBP rate represents the number of GBP one EUR can buy (relevant now with all the Brexit issues going on) . If you think the Euro will increase in value against the British Pound, you buy Euros with British Pounds. If the exchange rate rises, you sell the Euros back, and you cash in your profit.

Now the same works for strading Bitcoin, ethereum, Litecoin or other cryptocurrencies. this has become an entire new market and has introduced many people to Forex . you should here be also aware that trading cryptocurrencies is like regular trading so you will be able to lose great sums of money.

the Best thing i found about trading cryptocurrencies is that the Leverage by default tends to be very low which makes the risk of losing it all much smaller.

Sounds simply enough?

Why does not everyone Trade.

The same could be asked as to why not everyone plays poker, you can make money. The comparison between the 2 is actually closer than you might think.

All traders that are successful will tell you that 80% of successful trading is psychology and the other 20% is research. It takes time to get the research down, but it can take a lifetime to master the psychology.

People tend to do things differently when real money is on the line and are accepting losses in the hope that the trend will reverse or taking out profit too early because they don’t want to lose what they just have gained. In short, the psychology is the hard part.

One should be aware that you can loose real money and a lot of it very fast if you don’t know what you are doing.

Now most Good Forex brokers offer some educational tools, some more than others that will teach you how to trade. There is also something that is called social trading that will allow you to follow other traders and see what they are doing in order for you to learn and make money at the same time.

So here are some ground rules for those that look to start trading

  1. Get involved in the market, watch read and listen to the news to understand what is happening
  2. Go through a trading course ( a good one is here)
  3. Open a demo account and trade at least a month (my advice to do this even longer)only on this before you even think about trading with real money.
  4. Check out social trading, there are some options for this, this broker offers this also.
  5. Try with an amount that you are able to afford losing. See this as your tuition money.
  6. Take it slow, don’t become greedy and follow the basic rules

Basic Rules (there are many more but start with these)

  1. The trend is your friend
  2. Don’t add money to a losing position
  3. Don’t trade on too many different currency pairs
  4. Trade only with a good broker
  5. Don’t open to many positions (no one needs 100 positions a day)
  6. Develop your strategy and stick to it.
  7. Know that NO ONE is 100% of the times right, everyone loses some.
  8. Last but not least, don’t trade with money you cannot afford to lose.

Now all that I want to say is good luck.  😊


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