Registering an account at a good and reputable Forex Exchange platform will ensure your rights as well as the safety of your investment capital. Facing the current strong development of the forex market, the number of established trading exchanges is increasing day by day. Along with that is the appearance of many “junk” or “scam” forex brokers, making traders confused. Below, Learn Forex Trading will introduce the top 5 most reputable and best forex trading exchanges loved by traders around the world, including UK traders.
What is the Forex Exchange Platform
Forex Exchange Platform is a unit that plays an intermediary role in connecting sellers and buyers to exchange financial products. Specifically, currency pairs to other asset types such as commodities, energy, stock indices, metals, stocks,…
Forex exchanges will provide investors with trading platforms, analytical tools, financial leverage, etc. Supporting them in conducting transactions of buying and selling financial assets on the foreign exchange market. Forex broker profits are calculated by spreads, commissions, and overnight fees.
See more: Summary of new updates on forex trading platform
Top 5 most reputable and best forex exchanges today
There are so many forex broker options that you are hesitant about which one is better. Below are the top 5 most reputable Forex Exchange Platform that we have compiled and evaluated based on the most important criteria.
Exness – The best and most popular forex exchange
Exness is the top name in the best forex broker rankings. Established in 2008 by a group of information technology and financial experts, Exness has been operating for nearly 16 years now. In particular, the exchange also received operating licenses from the world’s leading agencies in the financial sector such as FSA, FSCA, FSC, FCA,…
During the past time, Exness has achieved many excellent achievements. Typically, some prestigious awards such as “Global Forex Brokerage of the Year in Europe”, “Most Transparent Forex Brokerage of 2019”,…
The biggest advantages of this exchange are no swap fees, high leverage, free deposits and withdrawals, a large UK support team,… In particular, Exness supports withdrawals on Saturdays, Sundays, and Saturdays. that no other platform can do.
XM – Good and reputable forex trading platform
XM is also an exchange that was born early, specifically in 2009. Licensed by reputable organizations such as FSC, CySEC, ASIC,… XM has received the trust of more than 10 million customers worldwide. 190 countries. The exchange leads the market with more than 2.4 billion executed orders, with no rejections or re-quotes.
Some of the biggest advantages of the exchange are:
- More than 1000 global financial products, a full range of currency pairs, metals, stocks,…
- Supports more than 10 trading platforms, super-speed order matching, and no requotes.
- Low spreads, from only 0.6 pips, along with extremely competitive commission fees, high leverage up to 1:1000,…
- More than 25 flexible and safe payment methods.
Reputable Forex Exchange Platform FxPro
Established in 2006, Fxpro operates under the license of FCA, FSCA, CySEC, SCB,… Over 15 years of operation with more than 2 million customers in 173 countries, Fxpro affirms its reputation for quality.
Some numbers that demonstrate the strength of Fxpro include over 200 global employees, over 95 industry excellence awards, and 450+ million matched orders. Here are the biggest advantages of this forex exchange:
- More than 2100 financial products.
- Providing customers with 5 types of accounts suitable for their investment style.
- Supports the most popular platforms: MT4, MT5, cTrader, and FxPro.
- Competitive spreads and no commissions.
- Fast deposit and withdrawal, diverse payment methods.
- Supports the UK language as well.
Leading good and reputable forex exchange ICMarkets
ICMarkets is considered the oldest and number 1 Forex Exchange Platform in Australia. The platform also receives positive reviews from the most practical traders. To date, the exchange has more than 180 thousand customers in almost all countries. Huge trading volume of up to 1.11 trillion USD. Impressive points of ICMarkets can be mentioned as:
- Licensed by: CySEC, FSA, ASIC, SCB,…
- The system includes 2250 financial products, from forex, stocks, metals,…
- Supports the 3 most popular platforms: MT4, MT5, and cTrader.
- Extremely low spread, only from 0.0 pip, super fast order matching speed, no hidden fees.
- 14 safe and fast payment channels, accepting 10 different currencies.
Reputable forex trading platform F x4u
Forex4you or Fx4u was born in the Virgin Islands (UK) in 2007. It is one of the most veteran names in the foreign exchange market. Fx4u operates under the regulation of the BVI FSC. Over 16 years of operation, Fx4u has attracted more than 1.4 million customers, with a spectacular number of 748 billion successfully matched orders.
Especially in UK, Forex4you also sets up a representative office to best support the UK trading community. The biggest advantages of Fx4u are:
- More than 150 financial products.
- 9 safe payment channels.
- Low margin requirements, high leverage up to 1:2000.
- Offers 4 account types to suit every trading style.
See more: Registering Exness broker account on your phone
Top 5 characteristics of a reputable Forex trading exchange
Each trader has his trading style, so the criteria for choosing a forex broker are also different. However, below are the top 5 characteristics that you should clearly understand to know which is a good Forex Exchange Platform worth joining.
A reputable forex trading exchange will be licensed
Operating licenses are the most important evidence proving the reputation of good Forex Trading Platforms. To obtain a license issued by a major financial institution, a forex exchange must meet the required standards. At the same time, the exchange operates under the supervision and management of those organizations, with clear periodic reports.
The more licenses the exchange owns, the greater its reputation. The reputation of the licenses gradually decreases from FCA – CySEC – IFSC – ASIC – FSC.
Good forex brokers have reasonable transaction costs
The lower the transaction fee, the more optimal the investment return. Each exchange will have a certain difference in transaction fees. Trading fees include spreads, commissions, and overnight fees. If you are a trader pursuing a scalping style or day trading, you should choose a exchange with low spreads.
Reputable forex exchange with optimal trading platform
Most reputable forex trading platforms support the popular platforms MT4 and MT5. MT4 has an intuitive interface, extremely easy to use, helping traders get acquainted with the market as quickly as possible. While MT5 is suitable for professional investors, with 6 types of pending orders and many upgraded tools compared to MT4.
Good forex exchange with diverse trading products
A reputable and suitable forex exchange for you will provide the products you are aiming for. Most major forex brokers offer the following instruments/products: forex, metals, energies, indices, and cryptocurrencies.
Conclude
Thus, Learn Forex Trading has just provided you with the top 5 most reputable Forex Exchange Platform. All are rated best by experts. At the same time, here you will also learn the 5 most important characteristics of a good forex exchange and worth choosing. Hopefully, this article will help you succeed in your journey ahead in the foreign exchange market.
FAQ
Why should you choose a reputable Forex Exchange Platform?
Choosing a forex exchange is identical to choosing a service or goods provider. The most important criteria are still reputable quality and good price. Choosing a reputable forex broker will help you feel secure and confident when trading.
What are the signs of a scam Forex broker?
Signs of a scam forex broker include:
- Information about the exchange is not clear
- Invite traders to participate loudly
- Committed to super-high interest rates
- Or brag and promote achievements
- Less professional trading platform
- The website is not accessible
- Received many bad reviews
Where will investors’ money go if the forex exchange collapses?
Any reputable forex exchange is managed and supervised by a reputable financial institution. Therefore, if any exchange collapses, these organizations will pay the amount to traders according to a satisfactory compensation policy.
