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      April 26, 2018

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Forex Trading

  1. Lite Forex
  2. Forex Yard
  3. Oanda
  4. Trade 24

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Forex Trading Better Business Bureau Reliability Seal

The foreign exchange (Forex) market deals with the trade of one currency for another. As the largest financial market in the world, the Forex market is comprised of trades between banks, financial markets, currency speculators, institutions, corporations, and governments.

Currently, over three trillion dollars are traded daily (on average) in the global Forex and other related markets. Due to the overwhelming opportunity for financial gain, Foreign Exchange is the fastest growing trading market available today.

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Best Reviews

2018

Forex Trading Reviews

5 stars
Easy Markets

EASY MARKETS Visit Site

Minimum Startup Deposit:

$100

TopConsumerReviews.com Best-In-Class Blue Ribbon Award Easy Markets is an excellent Forex platform that allows you to start trading with as little as $100. Additionally, with their quick setup feature, you can begin trading in less than 5 minutes. The website is very thorough and professional, and we found it easy to navigate - even for novice users.

Some of the highlights of Easy Markets include the following:

  • A credit card you can use for instant deposits
  • Guaranteed stop-loss rates
  • The ability to freeze rates
  • No hidden costs
  • Special terms for frequent traders
  • No software downloads
  • Live, real-time quotes
  • The ability to trade within the U.S.

Easy Markets offers extensive information to help you get started in the foreign exchange market. In fact, one of the best features for novice users is the "guided tour," which walks you through the foreign exchange process and explains how to make trades. They offer a useful FAQ's page that will help you understand how to use the website and make online transactions. Easy Markets also offers live training and one-on-one training to help you get started.

Another benefit of using Easy Markets is the fact that Easy Markets enables you to freeze given rates for a few seconds, giving you a little bit more time to make a decision. This is a great device that can help you "lock in" a rate before you actually execute your transaction.

Easy Markets is an excellent website for someone interested in Forex trading. It has an extensive amount of helpful information for new traders, and provides useful options for more advanced traders. Easy Markets has earned our highest rating.

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4.5 stars
Lite Forex

LITE FOREX Visit Site

Minimum Startup Deposit:

$1

If you are just entering the Forex trading market, then Lite Forex might be a good website for you to start with. Lite Forex is a thorough and professional training website for new traders and has many features designed to help teach you the market including a glossary of terms, Forex techniques, FAQ's, and much more. Designed with the novice Forex trader in mind, Lite Forex will help you ease your way into the Forex trading world, learn professionalism, and gain success. However, if you are a more advanced Forex trader, you might consider our highest-rated service.

Using Lite Forex, you can enter the Forex market with as little as $1. Your transaction appears in US cents, and you can start trading with 0.1 lots and margin rates of 1%. Lite Forex also offers commission-free Forex trading, so you do not have to pay commissions-just spreads. Interest income is paid on the balance amount in your account,and instant execution allows you to open and close positions at the price you see on your monitor.

Lite Forex permits trading from the US and offers a variety of account types that can appeal to beginning and more experienced Forex traders alike. These accounts include:

  • MINILite - This account is for beginners and requires a minimum deposit of $1
  • 100KLite - This account is also for beginners, but requires a minimum deposit of $50
  • MINIForex - This account is for Forex professionals and requires a deposit of $300
  • 100KForex - This account is for Forex professionals and requires $2,000

Overall, Lite Forex is a good choice for those who are new to Forex investing or have only a small amount of money to start investing with.

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4 stars
Forex Yard

FOREX YARD Visit Site

Minimum Startup Deposit:

$100

Forex Yard is a good site for either the professional or novice Forex trader. Forex Yard does not require software downloads, and you can start trading with as little as $100. Additionally, there are not any tailor-made conditions for frequent traders. Forex Yard offers competitive spreads, trailing stop orders, and credit card deposits. If you are new to the Forex trading market, you can take advantage of Forex Yard's free Forex trading course.

Forex Yard offers three types of accounts to help you get started:

  • Free Demo - Allows you to become familiar with the Forex trading world before spending any real money. To take advantage of this tool, you must download a free trading station.
  • SuperMini - Allows you to start trading with only $100. This account is perfect for the beginning trader. You can make small deposits, and credit cards are accepted.
  • Standard - Provides tight spreads, no slippage, and no hidden costs. This account is designed for experienced and institutional traders.

Forex Yard offers a lot of useful information on their website. They have a FAQ's page, which is helpful as you research Forex trading. However, much of this information applies to someone who is actively trading, rather than someone who is determining if Forex trading is right for them.

Forex Yard is a high-quality Forex trading site. However, it offers a little less information than the higher-rated services.

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3.5 stars
Oanda

OANDA Visit Site

Minimum Startup Deposit:

$1

Oanda started its FXTrade Platform in 2001 and has provided a quality product ever since. The website is professional and offers helpful educational information about Forex trading. As a novice user, you can learn more about how Forex trading works by playing Oanda's FXGame. This allows you free, unlimited, practice accounts as you gain an understanding of this volatile market.

Oanda's FXTrade Platform is 100% automated from market-making to trade execution. Some of the benefits include the following:

  • Real-time executable pricing
  • Instant settlement
  • Continuous interest payments on a second-by-second basis
  • Tight spreads on all major currencies offered
  • No trade minimums (trade as little as $1 and receive tight spreads)
  • Multi-currency accounts (USD or Euro)
  • No required minimum initial deposits
  • No monthly fees
  • No commissions (you only pay spreads)
  • No charges for stop or limit orders
  • No software to download (Oanda is Internet based)
  • Margin trading up to 2% (or 50:1 leverage)
  • Real-time trade blotters
  • Profit and loss analysis

Although Oanda provides many features, we found the trading interface cluttered and somewhat confusing. This can cause issues when you need to respond quickly to a change in market pricing - you do not want to have to fight through the interface to place your order. Another drawback is the overly simplistic charting software they provide. Additionally, their customer service representatives can be short and downright rude when fielding questions by phone.

Oanda offers an impressive amount of information and the ability to practice trading before committing. However, they need to improve their trading interface and remember that customer service should be a high priority. Therefore, you might first consider one of the higher-rated selections.

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2.5 stars
Trade 24

TRADE 24 Visit Site

Minimum Startup Deposit:

$100

Trade 24 is a Forex trading website that offers two different trading platforms, and may be geared towards the more advanced Forex trader. Trade 24 was opened in 2012 in London and using an advanced trading platform is quickly becoming a popular up-and-coming Forex dealer.

The information and analytic tools provided on the Trade 24 website are clearly geared towards the advanced Forex investor. While there is a brief “getting started” tutorial video, it doesn't give the kind of detailed advice that some of the other Forex trading websites provide for their newer traders. Additionally, Trade 24 offers two trading platforms, both of which are fairly advanced. The most basic platform available with Trade 24 is MetaTrader4; a very popular Forex trading platform used by advanced traders that features state of the art charting tools and market indicators The other trading platform is WebTrade24 which is a browser based platform for those who don’t want to download software on to their computer.

Some benefits of Trade 24’s advanced trading platform include:

  • Trading support in English and in a wide variety of languages
  • View graphs simultaneously in flexible presentation of size, color and time
  • Saves and loads personal job templates automatically, to economize on repetitive definition times
  • The possibility of creating one oscillation graph on another oscillation graph
  • Marking trading activities on the graph and automatically transferring technical data analysis that has taken place between different time frames
  • Trailing stop built into the software
  • Extremely low spreads between the bid/ask price
  • Commission free trading
  • Fixed rates

Trade 24 offers a promotion for new clients including a 30% bonus to their account if opened with $500 or more. Current clients are giving Trade 24 very high marks for both usability and customer service. Technical assistance is available through online chat or over the telephone, and the dealer support team is very professional and experienced.

Overall we give high marks to this relatively new player in the Forex trading industry. With an advanced yet simple to use platform with many state of the art features, and an excellent reputation for customer service, the experiences Forex trader should strongly consider Trade 24 as many of today’s Forex investors are starting to do.

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Continued from above

So, how does a person get involved?

First, you have to find a suitable Foreign Exchange trading platform. There are a number of these trading services available, depending on your experience level.

If you're a novice Forex trader, some websites offer extensive training materials that not only cover how to use their Forex trading services, but also information about the Foreign Exchange trading market in general. For more experienced Forex traders, some platforms provide advanced account options that can match your individual trading needs.

When looking at different Forex trading services, there are certain factors you need to consider. Some of these include:

  • Experience. Is the Forex trading platform geared toward novice or more advanced traders?
  • Ease of Use. Is the Forex trading platform easy to use? Can you find information and place orders without much stress?
  • Service. Does the Forex trading platform provide the tools and services you need to begin Forex trading?

TopConsumerReviews.com has reviewed and ranked the best Forex trading platforms available today. We hope these reviews help you find a Forex trading service that meets your needs!

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