What good is a profitable trading system without a reliable broker to execute your trades? Finding a Forex broker is a necessary evil if you plan on trading retail Forex. There are some really great brokers out there to help everyday traders, but unfortunately, there are also bad brokers and scam artists as well.
Not all brokers are created equal. It is really important to do your due diligence and compare Metatrader 4 brokers to find the best one for you. That research could include comparing features and account requirements, speaking to customers service representatives, and reading reviews from current and former customers. If you are a U. Below is a list of the top 4 quality Metatrader 4 brokers available to U. FXCM has been removed from this list due to recent news.
I haven't updated this article with a replacement yet. Founded in , TradeKing is the new kid on the block. Yet, in its short existence, TradeKing has become one of the seven largest brokerages in the United States. Known for providing reliable and inexpensive access to budget minded traders, TradeKing is quickly becoming one of the most trusted names in retail Forex.
Founded in , Oanda has become a trusted name in the retail Forex industry. Oanda is known for providing the Forex community - not just account holders - with many trading decision support tools. They have also received many awards chosen by retail traders, including 4 wins in the FX Traders' Choice Awards. OANDA is known for bringing several technological advancements to the retail Forex industry, and for being one of the first brokers to provide retail traders with spreads under 1 pip.
ATC Brokers opened in and have been a top brokerage firm for the retail Forex and futures markets. Their vision is to concentrate on how technology relates to trading, and how it can all benefit their trading customers. These top Metatrader 4 brokers can be great picks for anyone looking to trade retail Forex in the U.
There are different account types, sizes, and the latest in technology to help you grow as a trader. Many of these brokers also offer YouTube tutorials or webinars to educate you in trading or to assist you in working with their platforms and tools. In addition, many of these Metatrader 4 brokers are connected to social media, like Twitter and Facebook, so you can have even more access to their experts and customer service representatives.
The most important thing when choosing a broker is to know what kind of trader you are, and what your needs will be as you trade. Also, remember that since the laws changed with Dodd-Frank all U.
Just take your time and find a registered Metatrader 4 broker that meets your needs. This article represents my honest opinion of these brokers, and of the other brokers that were considered.
I am not being paid to refer you to any of these Metatrader 4 brokers, nor am I being compensated in any other way. You should use this article as a jumping off point only.
Like anything else in this business, your own research will go a long way in finding a reliable broker that will meet your specific needs. If you are not a U. However, if you are a U. Still looking for a profitable trading system? Only 3 were profitable! Learn more about my 1 recommended trading system, Day Trading Forex Live. Being that the rest are Market Makers, is it now safe to say that retail forex trading is dead?
The only place you can find a broker nowadays is in the banana republic. Not by a long shot, Robert. OANDA, for instance, uses a market maker. However, they are known for treating their traders fairly. You should also keep in mind that even if you are with an ECN or STP broker, but you are not a profitable trader, you are probably B booked anyway which means the broker is trading against you.
The takeaway is that you should learn a profitable trading system. Get good at making money and your broker will not find it profitable to trade against you, regardless of who you trade with.
Im confused because if your broker is trading against you how can u win and are there any broker thats not trading against you? Sorry for the late response, Nathan. There is always someone trading against you. The only difference is that your broker can see your stop loss. It also helps if your initial deposit is more than a few thousand dollars, but we all have to start somewhere.
I really liked MB Trading, but they got bought. I came here hoping to find something better. They always ask about nationalities, and the moment you put American, instant rejection.
I like the trademark. I think you and I would agree on a lot of things. I used FXCM for years and was perfectly happy with them until recently. Notify me of followup comments via e-mail.
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Thank you so much for this information. Fabricio Braz September 27, Looking forward to see a similar analisys for non us traders.
Chris September 28, Thanks for commenting, Fabricio. I plan to do that in the future. Johnna February 7, Chris February 7, You and me both. Robert February 16, Chris February 16, Nathan Bell June 14, Chris July 2, Chris August 7, Add Comment Cancel reply Notify me of followup comments via e-mail.More...