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Compare forex brokers and find the perfect broker for your needs. An advanced and easy to use broker search engine. Review and compare the best and the worst forex brokers. Make an informed decision when choosing your forex broker.
Use the Symbol Lookup tool. Alphabetize the sort order of my symbols. We are a leading European bank with global reach supported by a strong home base in Germany, Europe's largest economy. We provide services in commercial and investment banking and retail banking as well as wealth and asset management products to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals.
In October , we outlined a multi-year strategy to build on the core strengths of our business model and client franchise. The four goals were to be: During the course of , we made significant improvements to our control systems and reduced our legal risks, including some of our most significant litigation matters such as the then-pending investigation by the U. You have selected to change your default setting for the Quote Search.
Edit Symbol List Symbol Lookup. Without doubt, your number one priority should be ensuring the safety of your funds. Firstly, this means making sure that the broker you choose will not steal your deposit. You can best take care of this by making sure that you only use a broker based in and regulated by a financial authority in a respected financial center.
Secondly, you need to make sure that even if the broker operates honestly, but goes bankrupt for any reason, that you will be able to recover your deposit. One measure that can be taken here is to only deposit with brokers whose regulators offer deposit protection for clients such as regulated brokers in the U. This means that even if your broker goes broke, the government will bail you out by paying back your funds up to a certain amount, although it might take some time.
Beyond that, try to choose a broker with a healthy financial situation and a good reputation. Once you have taken these precautions, you can look at what your potential brokers offer in terms of range of available assets to trade, spreads and commissions, overnight financing charges, and speed and reliability of trade execution — and make your choice accordingly.
Regulation and compliance are - beyond the shadow of a doubt - the most important things to consider when choosing a broker. An unregulated broker can essentially do as it pleases with its traders' funds. Such a broker might be nothing more than an online scam, so it worth being extremely wary of any unregulated brokers. The activity of a trustworthy broker should always be governed by an official regulator designed to protect and promote the integrity of brokerage operations.
All types of abusive practices linked to the sale of futures and options should be out of the question, as traders should be protected against fraud as well as manipulation.
These credentials are usually listed in the About Us section of the broker's website. Equivalents of these trade associations and regulatory bodies are present in nearly every country in the world. Depending on where their broker is based, traders should always research and look for these credentials. In this respect, it's also worth researching the year when the broker obtained its license as this might carry some significance as well, in regards to the overall reputation and operational history of the broker.
Regulated brokers must comply with a set of rules that are meant to safeguard investor assets. This is the primary reason why regulation is so important. Every regulated broker is subject to a "Net Capital Rule" which prescribes a minimum amount of capital to be kept in liquid form. This way investors are protected with a 'safety net' in the event that a broker is forced to close. In addition to the requirement of maintaining minimum capital requirements, regulated brokers in most jurisdictions are required to keep all client funds separated in segregated accounts so that client funds won't accidentally or purposely be used for any reasons other than to execute the client's trades.
Some nations, such as the United Kingdom, even offer government-backed deposit insurance for its regulated brokers so that clients can recover part or all of their funds even if the broker manages to misappropriate them. Dealing Desk brokers work similarly to the dealing desks provided by various financial institutions and banks. A Forex broker who uses a dealing desk and is registered as a Retail Foreign Exchange Dealer and Futures Commission Merchant or equivalent in another country can offset trades.
The No Dealing Desk system on the other hand offsets positions automatically and then transmits them to the interbank market. Brokers working through a Dealing Desk system do not work directly with market liquidity providers, therefore only one liquidity provider remains in the equation, and that gives birth to a fundamental conflict of interest.
An ECN broker on the other hand, offers its traders direct access to the other market participants through an Electronic Communications Network. The business model of an ECN broker is an entirely fair one, as it eliminates a major conflict of interest: Another advantage of the ECN is that because of the lower spreads it offers, such brokers can charge a fixed commission on every transaction. However, you should not see ECN brokers as a panacea. Brokerage fees are fees that the broker charges for the services it offers, which are services focused on facilitating transactions between buyers and sellers.
The amount of these fees depends on the broker type, and the type of service to which the trader signs up. For the purposes of retail traders, the situation is best summarized by saying the Dealing Desk Brokers charge spreads only, while ECN Brokers charge spreads as well as commissions.
The key difference between fees and commissions that all traders need to understand, is that fees represent a flat charge, while commissions vary depending on the delivered financial product and the size of the transaction.
Full service brokers offer all sorts of additional perks and premium features, some of which are indeed extremely useful. Such services do cost extra though. In this respect, what you should be looking for is a broker who includes as many premium services as possible, as cheaply as possible. In the premium service category, we have features like advice and research covering a wide range of traded assets, retirement advice, tax planning etc. You need to carefully weigh whether you need such services or not.
If you're only looking to execute trades, there's no point in getting embroiled in any premium-service intricacies.
Discount is probably the way to go then. Another factor to consider is daily rollover. The daily rollover is interest credited or debited to the entity holding a Forex position overnight, depending on the relative interest rates of the currencies involved in the trade.
In such cases the broker will consider which national currency the trader bought relative to the other national currency of the pair. If the interest-rate difference favors the bought currency, the trader will have rollover interest credited: If it's the other way around, the interest will be debited. The problem is that most brokers make sure their clients pay for holding most positions overnight, and there is nothing to stop them doing this beyond the true market cost.
Most brokers roll over open positions automatically. It is important to know that the rollover interest whether it's debited or credited is calculated on the full amount involved in the trade and not on the margin alone. Another important thing regarding the rollover interest is that it represents a separate revenue stream from the capital gains and as such, it will be taxed separately too, as interest income.
Through a margin account, the investor essentially borrows from the broker, with the intention of controlling larger positions than he'd be able to control based solely on his own invested capital. There are special margin accounts that traders can use for this purpose. Margin accounts come with their own risks, and special operating procedures meant to reduce risk for the trader as well as for the broker.
The difference between margin and leverage is simple. The leverage is the factor by which the deposit is multiplied to reach the maximum trade value: The margin is simply the amount of deposit required as a percentage of the maximum trade value. It is just the flip side of the earlier calculation.
The initial deposit is the first deposit a trader makes with a broker.
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