Best forex brokers

Best Forex Brokers Right Now

Best forex brokers
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Top brokers by ESMA loosing rate cmc markets and interactive brokers

Are you looking for the best trading brokers that are safe, easy to use, and have a low minimum deposit? Here is the complete online guide for finding the best forex brokers. Youโ€™ll find answers to every question, including how many forex traders make money, why some brokers have lower losing percentages than others, and what risks are involved. Youโ€™ll learn about industry leaders such as Etoro, Oanda, and everything else you need to know about online trading platforms


For the first time in the history of trading, thanks to the new European regulations that came into effect on August 1, 2018, European brokers are required to show what is the percentage of their clients that lose their money. This applies to all broker traded CFDs (forex, stocks, commodities, etc.) Donโ€™t worry this list will help you find the best way to trade forex, whether youโ€™ve heard of TD Ameritrade or Saxo bank, we have the right FX broker for you to choose from.

Best Forex Brokers Available Today

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– Plus500 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

– Oanda offers Bitcoin trading through Paxos.

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What is ESMA and how can understanding the new ESMA regulations help you lose less when trading forex?

Anyone getting into forex trading has probably heard that 95% of participants lose money when trading. Given that FX brokers were able to hold tightly onto the real statistics, the 95% to 99% estimations were precisely that, just estimations.

Now, however, given the implementation of stricter regulations designed to protect retail investors by ESMA (European Securities & Market Authority), it is a legal requirement that a broker displays the winning (and losing) percentage of its clients.

ESMA is a financial safeguard of the European Union. Its purpose is to protect investors as well as consumers and those working within the trading market by ensuring a stable market with open information. They do so through carefully written rulebooks and supervision of various financial agencies and repositories. In short, the ESMA has made Forex a more โ€œfriendlyโ€ place without as many hidden agendas. Those interested in trading can do so with a more educated decision based on the mandatory data published by brokers and ESMA themselves.

To discover this ESMA-required information, look for a statement similar to 51% of retail investor accounts lose money when trading CFDs with this providerโ€ on any marketing material or advertisements from the broker.

To reduce the financial risk for retail traders, ESMA has introduced leverage limits for European brokers. Gone are the days when small clients could day trade with 100x or 200x their deposited funds. According to the new ESMA intervention measures, leverage rates can only be offered between a margin of 2:1 and 30:1, depending on the specific instrument.

The new leverage limitations are as follows:

  • 30:1 for major currency pairs (such as EUR/USD)
  • 20:1 for non-major base currency pairs (such as EUR/NZD), gold and major indices
  • 10:1 for commodities with the exception of gold and non-major equity indices
  • 5:1 for Forex and CFD stocks
  • 2:1 for cryptocurrency CFD

As you can see from the list, average volatility dictates how much leverage can be utilized. For this reason, cryptocurrencies, typically the most volatile asset, have the tightest leverage cap, while conventional forex pairs can use the maximum 30:1 margin when trading.

Ensuring you have the right broker from the start can make a world of difference when it comes to making money plus, itโ€™s your money that youโ€™re potentially losing, so itโ€™s crucial itโ€™s in the right hands.

Who Are The Best Brokers In 2024?

a trading platform for best broker such as td ameritrade and saxo banks

Considering all these factors will help you to make the best possible decision when choosing which broker you deposit with. To make the process even easier, we did the research for you.

Best Overall: eToro

When you consider the hard numbers, itโ€™s almost impossible not to put eToro at the top of the pile. The statistics donโ€™t lie, and more traders are profitable at eToro than at any of the other brokers we checked out. Whether itโ€™s thanks to its social platform or copy trade feature, eToro seems to be doing it right. With over 20 million users in a whopping 140 different countries around the world, this award-winning company has created a user-friendly platform that is more simple to learn and understan than any broker out there.


51% 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.

*The minimum first deposit on the eToro platform starts at 50 USD and varies by country. Please verify this with the broker.

eToro USA LLC does not offer CFDs, real Cryptocurrencies are available for US users.

After eToro it becomes more difficult to separate the different companies, as they are mostly similar. However, there are some key differences in the areas of technical tools and ease of use, which allow us to differentiate between them.

Honorable Mention: Plus 500

While Plus 500 does not boast an above-average amount of winning traders, their free, unlimited demo version is still a good option for a beginner trader. Boasting a great array of forex pairs, and user friendly desktop platform , most importantly this is a well regulated and well known CFD broker. Plus 500โ€™s UK subsidiary is regulated* by the FCA in the United Kingdom, widely considered the gold standard for financial regulators in the world.

– Plus500UK Ltd authorised & regulated by the FCA (#509909).

– Plus500CY Ltd authorised & regulated by CySEC (#250/14).

– Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1).

– Plus500AU Pty Ltd (ACN 153301681), licensed by:

ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.

– Plus500SEY Ltd authorised & regulated by the Seychelles Financial Services Authority. (#SD039).


82% of retail accounts lose money

Best for US traders: Robinhood

Among the many US brokers, Robinhood is a breath of fresh air. The San Francisco based company bases its ethos on saving its clients money, and providing services for anyone, no matter how much money they have to trade with. While they donโ€™t have forex, Robinhood offers commission free stock, cryptocurrency, ETF and options trading with no minimum trading account deposit. The platforms charts are clean and clear with no confusing frills. While some have complained about a lack of educational materials, this broker has made great strides in this area, adding notable research firm Morning Starโ€™s stock brokers reports to their premium โ€œGoldโ€ service (leveraged trading is also available). All of these factors make Robinhood a great choice, particularly for a young trader getting started due to their low fees and no capital requirements.

Make sure you try each brokerโ€™s demo platforms before you invest any money in the markets. Finding a well-regulated broker that you like to use will save you a huge amount of stress and, most importantly, will mean your risk capital has the best chance of being looked after safely. As we can now see from the valuable data provided through ESMA, it pays to find the right broker. Literally.

Why do traders lose more money with some forex trading brokers and less with others?

The truth is, only a very low percentage of those trading on any market, including forex, will actually make a profit. Itโ€™s intended to work this way. Even if every single person knew exactly how to trade and did so properly based on the current situation, etc., the same approximate percent would still lose. And it could be for any reason, not simply bad luck.

The number of winning trades can vary widely among different companies. eToro for example has one of the lowest numbers of losing accounts at 51%. . When you consider that eToro tradersโ€™ winning rate is roughly 3 times more than the worst-performing brokers, it demonstrates why choosing your trading platform carefully is so important.

There are several factors that may be contributing to eToroโ€™s impressive figures.

First, unlike many brokers, they have pioneered the use of social trading. Users can interact with other users and even replicate their trading strategies using eToroโ€™s pioneering use of the โ€œcopyโ€ feature which allows beginners to learn from and mimic other successful traders on the web platforms. Given the disparity in winning percentage, it appears to be working.

At the other end of the table, the worst-performing Forex brokers could be down there for many reasons. Whether it be because they prey on inexperienced traders, have high costs, or donโ€™t provide enough education, trading tools or training tools, the stats donโ€™t lie. If 89% of users are losing money trading with a particular company, then new forex traders need to be wary of that fact. As a new active trader, you need to be aware of this as you could end up losing money rapidly due to your skills levels. Until you become an advanced trader of course!

Thankfully, we have access to these stats and more due to the new regulations imposed by ESMA.

How Do I Choose A Forex Broker?

Before going too in-depth into the winning percentage and features a broker provides, there are factors you should establish first to ensure youโ€™re putting your money in the right hands.

Find out which brokers are regulated by the Financial Conduct Authority (FCA). This is critical because it means that the broker will be held legally responsible for holding transparency and fairness to a certain standard.

It also proves to you far more that, when you invest your money that it will still be there a year down the road. Some brokers who arenโ€™t regulated may not have any proof that they will still be running long-term or be able to guarantee the privacy and safety of your money and your personal information.

Choosing the right forex broker is an important decision, so what exactly should you be looking for beyond the winning/losing percentage that we discussed earlier?

  • First, you need to look for low fees. The cost of trading adds up in the long term and can eat into any profitable edge that you might have if you arenโ€™t careful. There is good news here, due to heavy competition, most forex brokers offer competitive low spreads with no other trading commissions.

 

  • Next, itโ€™s important to consider how many different currencies are offered by the forex broker. Professional traders will look for opportunities across a vast array of forex pairs. Having these options can help you be more selective, and therefore more effective in your trading.ย ย 

  • Taking a look at the customer service provided by a broker can also be important. The last thing you want is to deal with a forex broker who is uncommunicative and unable to answer questions about your investments. You can set yourself up for happier, smoother trades by establishing a good relationship with your broker and their team from the beginning.

 

  • Another important consideration is what technology tools are available. While you donโ€™t necessarily need hundreds of fancy indicators, at the very least, you need clear and readable charts backed by intelligent analytics and true technical analysis.

 

  • Finally, and perhaps most importantly, you need to find a company that makes it straightforward to deposit and withdraw money and has low withdrawals fees. Thereโ€™s nothing worse than having long delays while waiting for your funds to arrive due to reasons such as the broker stalling on a withdrawal. Always read the fine print and find out the exact number of days, if any, in a waiting period.

 

There are so many factors to consider when choosing a broker. By now you should have learned enough to make the best possible decision when choosing which broker you deposit your money with. But there is one final question that needs to be answered:

What is the best way to tell if my forex broker is regulated?

To stop forex scams, it is critical to use a well-known, properly supervised broker. To see if any forex broker is regulated, look for the registration number in the disclosure text at the bottom of the homepage. Then, to double-check the registration number, look it all up on the regulatorโ€™s website. Do more research if the broker is not controlled in your region. We monitor, rate, and rank forex brokers across over 20 international regulators to assist traders like you.

We wish you good luck on your journey of choosing a broker to trade forex, stocks, crypto and beyond.

If there is a question, reach out for a conversation with a member of our team here or check out the rest of our blog to keep your financially creative juices flowing.

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Best Etoro Traders to Copy or Follow This Month, 2024

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best traders to copy this month

Unlock the power of expert trading through copy trading! This innovative approach allows you to mirror the moves of professional traders, transforming your trading journey from novice to knowledgeable in just a few clicks.

What is copy trading? Who are these pro traders? Donโ€™t worry, all of your questions will be answered here.

Weโ€™ve compiled a list of the top Etoro traders below to get you started on your trade copying journey. Remember, itโ€™s the internet, there is always a risk that people might not be who they say they are. Thus, we decided to provide this resource of carefully-analyzed pro traders that are safe to copy for any beginner trader. It is regularly updated to ensure you are not putting your capital at risk from scammers when social trading.

What if you had invested $ ago?

Curated List of the Top eToro Traders

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.


Jeppe Kirk Bonde
Gain 34.70%Risk score 4Manages $500K+27555 CopiersVIEW
76% of retail CFD accounts lose money

Amit Kupfer
Gain 30.13%Risk score 5Manages $500K+8302 CopiersVIEW
76% of retail CFD accounts lose money

Pietari Laurila
Gain 51.86%Risk score 4Manages $500K+11826 CopiersVIEW
76% of retail CFD accounts lose money

Blue Screen Media ApS
Gain 29.23%Risk score 4Manages $500K+15332 CopiersVIEW
76% of retail CFD accounts lose money

Dario Martiskovic
Gain 26.56%Risk score 4Manages $500K+930 CopiersVIEW
76% of retail CFD accounts lose money

Catalina Norena Valderrama
Gain 9.36%Risk score 1Manages $500K+1849 CopiersVIEW
76% of retail CFD accounts lose money

Timothy Assi
Gain 31.62%Risk score 4Manages $500K+311 CopiersVIEW
76% of retail CFD accounts lose money

Pedro Acuna Taboada
Gain 34.54%Risk score 4Manages $500K+646 CopiersVIEW
76% of retail CFD accounts lose money

Kenan Abel
Gain 54.59%Risk score 4Manages $500K+1179 CopiersVIEW
76% of retail CFD accounts lose money

*Total Gain calculations do not guarantee future profits.

Check out these traders to see if their investment strategies align with your goals. Not only do these traders generate impressive gains, an added bonus is their help to others by sharing their strategies and thoughts on their Etoro social feed.

Main Variables That Build Trust in a Pro Trader

1. Drawdown stats,
2. Risk level,
3. Consistency of profits,
4. The length of their trading history,
5. The number of current copiers.

Note that our table does not include profits as this should not be a defining factor in your decision to copy a trader. As with any broker or trader, youโ€™re still investing your money and are responsible for any profits or losses you may encounter.


 

What is copy trading a.k.a social trading and how does it work?

social trading

Copy trading is a form of trading where the market positions of one trader are copied by other traders. It allows individuals to align part of their portfolio with experienced traders and take advantage of their market knowledge.

Experienced traders whose investments are copied are called popular investors. They act as de-facto portfolio managers. However, as a copier you do not give any money to pro traders, you only copy the market actions they take.

That means when they enter the market and buy, you buy. When theyโ€™ve done the analysis to sell, you sell. This process can be automatic or manual. With eToro the positions are copied automatically.

Trade copying is a passive form of investing where youโ€™re relying on someone elseโ€™s expertise.

Similar to a more active approach like trading manually, copy trading is also about analyzing graphs and data. However, copy traders focus on analyzing past performances of other traders instead of market movements.

The number of copy traders following an experienced trader is unlimited. As a traderโ€™s portfolio performs better, theyโ€™ll likely see an increase in individuals copying their market positions.

What are the pros and cons of copy trading?

 

Pros

โœ… Great for individuals who donโ€™t have the time or knowledge to trade independently.

โœ… Allows investors to diversify their portfolio into markets theyโ€™re unfamiliar with.

โœ… Perfect for beginners looking to learn from experienced traders.

โœ… Ability to learn from successful traders and how they manage their portfolios.

 

Cons

โŒ Not a risk-free way of investing as your money is tied to the decision of another trader who may or may not make a profit.

โŒ Copy trading can inhibit traders from learning about the markets and instead spend their time learning about other traders.

How to find the best traders to copy?

Before copying other traders, itโ€™s important to do your research. Look out for the following elements to find the best traders to copy:

โœ… Performance history. What has the traderโ€™s performance been over the last 12 months? How was their performance when the market was bullish or bearish?

โœ… Returns. What are the returns of the trader? Are the returns consistent or sporadic?

โœ… Number of copiers. How many other investors are following or copying this trader? Is the number of copiers going up or down?

โœ… Risk level. What is the traderโ€™s risk level? What assets is the individual trading? Remember, donโ€™t risk money you canโ€™t afford to lose.

copy trading

On trading platforms such as eToro, youโ€™ll find this information on their profile dashboard. Trader ranking is based on their portfolioโ€™s return, how many copiers they have, or if they have been specifically selected by the editors of the platform. Youโ€™ll find everything from pro forex traders to pro crypto traders, long-term investors, and day traders. Choose what suits your needs best.

FAQs

Is copy trading profitable?

As with all investment opportunities, thereโ€™s potential to make or lose money with copy trading. Yes, copy trading can be profitable. However, thereโ€™s always a risk of losing money if the trader you copy makes a loss. Do not trade with money you are unable to lose.

Is copy trading legal?

Yes, copy trading is legal in most countries around the world. However, always make sure youโ€™re trading with a legally regulated broker.

What should you know before copy trading?

Itโ€™s important to do your own market research before copying a trader. At a minimum, you should know how a particular asset works and what trends and triggers you should look out for.

If youโ€™re new to forex trading then take a look at our free Forex trading school. Youโ€™ll learn everything from what influences exchange rates to the best analyses you can conduct on the forex market.

 

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider.ย You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Donโ€™t invest unless youโ€™re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Donโ€™t invest unless youโ€™re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

 

 

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5 Best Forex Trading Apps for iOS & Android 2023

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Looking for the best forex trading apps in 2023? We got you covered!

Trading forex has never been easier with our list of the best apps for learning, trading and investing.

George Soros once made $1.2 billion with the single Forex trade, and if he were to do the same today, we bet he would pick the Best Forex Trading App for his trade.

The daily Foreign Exchange trading turnover jumped to $7.2 Trillion in early 2023, bigger than all of the global stock markets combined. In fact thatโ€™s enough money to circle the earth 18 times in single dollar bills. Thereโ€™s millions of trading signals and opportunities daily, just pick the right trading app and hop right on the money-making train.

Here are the top forex platforms to start a trading account, master your trading strategies and find ways to make extra money.


1. Best Forex Trading App for Practice & Beginnersย – The Trading Game

ANDROID | IOS

 

The Trading Game is a free mobile application that gives a feeling of investing real money in real markets.

The game is perfect for new traders and experienced traders looking to hone their skills. Beginners will be surprised to learn about the many ways to make extra money with online trading. The Platform includes exciting lessons about Forex markets and numerous pro tips from experienced traders.

Just check this story from a Trading Game user who won-and-lost $24,000 before finding the game and reminding himself of essential strategies and tactics that actually work.

Many quizzes are available to test and enhance your trading knowledge. The Trading Game is the best forex app to build trading skills, gain real experience, and have fun without real risk.

Try aiming for the top of the global ranking systemโ€™s leaderboard!

2. Best Social Trading Platformย – eToro

51% of investor accounts lose money when trading CFDs. However, if you understand the risks, you can take advantage of eToro’s social trading platform.

ANDROID | IOS

 

Over 500 million trades have been opened at eToro, and the number is growing by the day. eToro is a social trading platform that allows users to mimic the actual trades of top-performing traders.

eToro is perfect for people looking to learn from the professionals, study their market movements, socialize with them, and copy whatever trades they are making, starting from $200.

This gives users the time to focus on what matters. Building their trading networks, and learning by doing, in a simple, hassle-free environment on one of the simplest to use platforms!

eToro is not famous for no reason.

For people exploring the world of trading, the platform provides detailed analysis and statistics. Making your first investment has never been easier than on eToro.

3. The place Where Forex Beginners Learn the Basics – Go Forex

ANDROID | IOS

 

Are you just getting started in the Forex game and plan to invest your savings to make extra money? Then look no further. Hereโ€™s the best foreign currency guide for new learners.

Go Forex helps new traders understand whatโ€™s going on behind their trades. With Go Forex, picking up tricks of the trade and mastering the fundamentals has never been easier. You can learn and test your knowledge with Quizzes after each lesson. The platform enables users to understand and master each topic thoroughly.

Find the best insights and collect Wall-Street trading experience with Go Forex!

4. Excellent for Financial News and Updatesย – Bloomberg

ANDROID | IOS

 

The only difference between billionaire traders and a bankrupt trainwrecks is the access to the right information.

Bloomberg News provides the best financial news on the internet.

You canโ€™t trade without being informed about the latest global developments. Always research your trades and follow the news, even if you have the best currency trading app on hand. Always!

With Bloomberg, receive financial information and keep tabs on the financial instruments you are interested in. Moreover, this app also provides a platform for you to monitor your portfolio and receive alerts on your positions. Bloombergโ€™s purpose is to help you make the best trading decisions and improve your financial perspective.

If you want to keep your portfolio on track, Bloomberg is a tremendous tool for that!

5. Best Apps For Retail Trading – Revolut/Webull/Robinhood

 

Robinhood ANDROID | IOS ย 

Robinhood is everybodyโ€™s darling when it comes to the retail trading world.

The fintech company is on a mission to provide its users with easy access to the financial markets. The banking app offers a straightforward path to buy stocks, ETFs, options, and even Crypto through its Crypto platform. Just like buying stocks and crypto on Etoro, which leaves more money in your wallet for you to invest.

Webull ANDROID | IOS ย 

Webull is a registered broker-dealer and is a relatively new entity in the hyper-competitive world of retail investing. They offer a professional-level trading platform, and customers can utilize real-time market data and analytical indicators to make informed trading decisions. Additionally, trading commissions are non-existent, and you can trade entirely free.

Revolut ANDROID | IOS ย 

Revolut burst onto the scene as a challenger bank offering a new way to do banking in the UK. Revolut works differently from other trading apps.

To trade, youโ€™ll need to sign up for one of their memberships. The Standard account is free and will allow three commission-free stock trades per month. The Premium account costs $9.99 per month and allows eight open-stock transactions per month. Finally, the Metal account costs $14.99 per month but offers unlimited commission-free stock trades. Start trading on the dot, and do not miss out on any golden opportunities that might present itself to you! Plan your trading schedule and start hunting for those profit-making opportunities!


The Ultimate Starter Pack: Which Forex Trading App is the Best?

Everyone is looking for ways to make extra money.

Most people wonโ€™t make it. However, the difference between you and losers is that youโ€™re at the right place to find the best forex trading advice!

Top 3 absolute-must-have forex trading apps for beginners:

  1. The Trading Game: Best App for Beginners and Practice.
  2. ย eToro: Social trading platform to find & copy Forex winners.
  3. ย Bloomberg Financial News: You canโ€™t trade without the latest news.

If youโ€™re looking for ways to make more money, then Forex is the real deal. Check our video about the best Forex trading apps:

 

Remember: donโ€™t rush! Take your time with The Trading Game and get a feel for the foreign currency markets. After youโ€™ve built confidence in your trading skills, only then join one of the Forex brokers and start investing real money.

How to Begin Trading in Forex

Itโ€™s becoming a lot easier to trade on the go, thanks to all of the opportunities allowing people to experience real-time trading using the best mobile applications and trading accounts on their smartphones.

Most forex traders have increasingly adopted smartphones as their favourite medium due to their accessibility, and with the majority of mobile applications already providing full features, thereโ€™s no excuse why a novice wouldnโ€™t want to try trading on the go as well.

These currency and forex trading applications make it simple for everyone to get started!

Whatโ€™s important to note is that selecting the best forex trading app will have a significant impact on your trading performance. If you have an iOS or Android smartphone and need an account to exercise your recently learned trading skills, the majority of applications can meet your needs.

Though most of these forex trading applications are available for free on most platforms today, look for key features and capabilities that suit you when selecting a forex trading app.When approaching a modern and potentially risky industry, itโ€™s advantageous to be as well-informed as possible.

 

What characteristics distinguish a successful Forex trading app?

If youโ€™re interested in learning how to trade and setting a goal to become a seasoned, competent, and high-frequency trader, make sure your smartphone trading app has one or more of the following benefits:

#1 The forex trading app keeps you up to date

Since real-time and up-to-date information is critical in trading, the forex trading app should provide it. This is because the value of a currency will change in a matter of seconds, necessitating quick decisions.

#2 The platform has smaller spreads.

The spread is the amount of commission the forex broker charges you, and it should be kept as low as you can get it. When you start increasing the trading volume, this will start to make sense.

#3 There are learning and educational tools available in the app.

The world of forex trading is not easy to learn. The best forex trading applications have all of the details needed to become a good forex trader. Current affairs on the world stage, as well as the technical aspect of the trade, should be included.

Frequently Asked Questions

What is the best app to trade forex?

The best app to trade forex is the one that fits your own unique needs and strategy. For those wanting to get started quickly and easily with a small capital investment, you should choose one that suits your skill level of trading and investing.

Can you get rich by trading forex?

Yes, you can. But itโ€™s not easy and itโ€™s not for everyone. You have to be willing to learn a new skill set. If you can do that and have the patience and discipline to put in the required work, then yes, you can become successful at forex trading.

Can you do forex on your phone?

Not just forex, you can trade all assets on your mobile phone. The best forex trading applications are available to download to your smartphone.

How do you trade forex for beginners?

Trading Forex for beginners can be an exciting endeavour. Trading Forex is fundamentally different from trading stocks or other types of financial instruments as you are not dealing with a single entity or asset like you are in stock or bond trading. To trade forex effectively, traders must carefully monitor the market, make educated decisions and keep emotions out of their trading plan. Luckily there are great communities and courses available to learn how to successfully trade and invest with forex.

Highest Paid Forex Broker CEOโ€™s

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Ever wonder what CEOs in the financial industry actually do all day and how much they get paid for it?Financeillustrated CEO money relaxing

Well weโ€™ve done some digging and hereโ€™s what weโ€™ve foundโ€ฆ


Asaf Elimelechย is Chiefย Executive Officer of Plus500ย and has been with the company since 2013. According to Bloomberg, the 36-year oldโ€™s base salary last year was a very nice $524,319ย and thatโ€™s excluding any bonuses he may have received. However, a half a million is a far stretch way from what the brokerage is valued at โ€“ a whopping $2.6 billion. Nevertheless, he made a half a million more than most of us last year – not bad eh!

Plus500 shares are trading much higher on the London Stock Exchange than that of its rivals which are also listed on the LSE such as, IG Group and CMC Markets so how are their CEOโ€™s fairing?

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Peter Hetherington,ย CEO of IG Groupย started as a Dealing Desk Manager in 1994. Since then, he worked his way up the ladder and landed the CEO position in 2015. It was noted on Reuters that his base salary was ยฃ575,000 in the last fiscal year and he also received a bonus of ยฃ876,000, bringing his total earnings to ยฃ1,451,000. It has also been reported that he bought ยฃ1.1 millionย worth of shares the company.

So, now you know how to make 1 and a half million – work your socks off in a company for 24 years.ย ย 


Peter Cruddas, CEO of CMC Marketsย received a wage ยฃ410,000 last year, according to Reuters. ย He also made ยฃ3 in bonuses bringing his total to ยฃ410,003. Donโ€™t be fooled by this figure though โ€“ Peter founded the company in 1989 and his current net worth is a massive ยฃ1.025ย billion with a capital B. ย In 2007, he was the richest man in London according to the Sunday Times.

ย 

The following two companies are not listed on the stock exchange, however, they both have made names for themselves in the industry; Etoro is the worldโ€™s leading social trading and investing network with over 10 million customers and FXCM โ€“ well the headlines havenโ€™t been very positive for the brokerage over the last few years. The company waskicked out of the US market for defrauding its customers and because of this, there were a lot of changes in the company.


FXCM is now run from London with Brendan Callahan as the CEO. He writes in his Linkedin Bio that โ€œ[he] is an experienced Financial Services executive with a strong track record for growth and turnaround/change managementโ€ which is definitely needed for the troubled company. Brendan joined the company as Managing Director of Gobal FX Sales in 2001 and in 2017 when the US branch went bust, he took over as CEO. His salary has not been disclosed, however according to Wikipedia, co-founder and former CEO โ€“ Ken Grossman, had a 12 -month deal that would make him 1,600,000 as CEO โ€“ a base salary of $600,000 and a bonus of 1,000,000. So, we could probably say the Brendan makes at least a half a million a year and perhaps even much more.

And last but certainty not least โ€“ Etoro!


It seems that everyone wants a piece of the pie and Etoro doesnโ€™t discriminate – whether youโ€™re a complete beginner or have been trading for years, the platform lets you track, follow, and even copy other trades made by successful traders.

In 2016, Business insider predicted that the company would one day reach a valuation of $1 billion and according to nocamels.com โ€“ they have! Itโ€™s unclear how much Yoni Assia, Co-founder and CEO of the Israeli company makes per year but looking at the previous CEOโ€™s base salary, itโ€™s probably safe to say that itโ€™s at least ยฃ500,000. Bear in mind that Yoni co-founded the company so one thing is for sure – the 36-year oldโ€™s net worth is a lot more than half a million.

ย So now youโ€™ve seen HOW MUCH these CEOโ€™s make but what do they actually do all day?

Financeillustrated CEO forex chartsWell, according to a study by Harvard professors, CEOโ€™s work approximately 62.5 hours a week (the average employee works 40 hours a week).

Hereโ€™s how they manage their work day:

  • 25% of their work time is spent on people and relationship
  • 25% on functional and business unit reviews
  • 21% on business strategy
  • 16% on company culture
  • 4% on mergers and acquisitions
  • 4% on operating plans
  • Only 3% of their work time is spent on professional development
  • And 1% on crisis management.

The study found that meetings took a huge chuck out of CEOโ€™s day โ€“ about ยพ of their day or 9 hours, leaving them just 3 and a half hours to get on with their other duties. 70% of their meetings lasted an hour or more whereas only 30% of meeting were less than 60 minutes.

Itโ€™s also worth mentioning that this study was based on CEO of companies with an average annual revenue of $13.1 billion. Our FX CEOโ€™s above might manage their work time differently.

So now you know HOW MUCH money they earn and WHAT they do and – do you want to see what they do in their PRIVATE LIFE?
Off-course you do!

financeillustrated CEO car family

Yoni โ€“ Co-founder and CEO of Etoroย is a family man and has 4 gorgeous kids; one girl and three boys.

The newest addition to the family is Alex and although doesnโ€™t understand yet – heโ€™s a Ethereum supporter!

Oh hey, CEOโ€™s kids eat pizza too!

Hmmm, seemed like a good idea at the time but it looks like they regretted it the next day and hit the gym. Got to burn those calories!

Power is measured by the gram –ย Pablo Escobar

I think there is growing institutional demand and interest of public investors to understand whether they can join the party –ย Yoni Assia

Heโ€™s talking about the Forex broker and Cryptocurrency party โ€“ not the illegal substances party! Or is he?

Join Yoni’s other 11.3K followers on Twitter for more fun and financial updates.

Peter โ€“ Founder and CEO of CMC Marketsย is 64 years young and has 4 children –ย  2 from his first marriage and 2 with his now wife, Fiona.

He was one of the many British that voted in favour of Brexit and was quite pleased when spotted a London Taxi with registration plates supporting the Yes campaign.

Peter enjoys sailing in his own yacht, flying in his private jet, holidaying in places like Dubai and off course playing a round of golf.

Not forgetting his youth, he tweets pictures of his 20 something year old self โ€“ now is it just me or is there some similarities there with Paul Kaye from the film, โ€œItโ€™s all gone Pete Tongโ€.

Or is it literally just all the orange?

On another note, he loves bake-offs in the CMC Markets office and labradoodles.

If you love finance, Brexit and labradoodles, hit Peter up on Twitter.

Life of a CEO ainโ€™t easy! Itโ€™s nice to see thatย Asaf – CEO of Plus500ย has days like us where your eyes are ready to pop out of your head with all the work. And look at that, CMC is not the only Forex company who enjoys a bake-off; Plus500 staff have a sweet tooth too.

Asaf is without a doubt a family man and he has two kids. He enjoys a beer now and again and attends football matches โ€“ most notably Atletico De Madrid which Plus500 sponsors. He is also a big fan of Mercedes.ย Asaf has a small circle of friends on facebook – just 500 but there’s no need to add Asaf as a friend just to snoop on his pictures; hisย profile is public.

Brendan – CEO of FXCM is not very active on social media at all โ€“ hence why have very little pictures to show you. But anyway, here is a picture from his Linkedin where he is looking busy on the phone โ€“ perhaps this is the phone call from the US office telling him โ€“ โ€˜Weโ€™re banned and youโ€™re the new CEO, Good Luck!โ€™

And the only picture we could see from his private facebook page is this one where heโ€™s looking more casual. While we donโ€™t have much information about his private life, heโ€™s got some hands on his shoulders which means heโ€™s got friends.

By now you might already have a favourite CEO but if you are still unsure, take the quiz and find out which Chief Executive Officer style is most like you.

Do you watch Netflix?

Kids?

How would you prefer to roll?

Would you rather...

As a CEO, whould you set your social media to...

You can only choose ONE.

eToro CEO - Yoni Assia

Youโ€™re a family guy who likes to have fun, drive fast cars and eat pizza! Check out Yoniโ€™s company here: etoro
CMC Markets CEO โ€“ Peter Cruddas

You donโ€™t mind receiving a smaller than usual CEO salary because you know that in the long term youโ€™ll be worth more. You also have a good sense of humour.
FXCM CEO โ€“ Brendan Callan

Youโ€™re a true business person. You like to keep your head down and accounts private.

Share your Results:

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Top 10 Best Forex Twitter Accounts In 2020

Twitter icon
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Best Forex Twitter Accounts Finance Illustrated

Twitter is a great place to go for trading information and education. If you are missing out on tweets from super successful traders and investors, you are missing out on money that could be made.


1.  @Schuldensuehner

Holger Zschaepitz, who is a senior editor of the Financial Desk of Welt, posts charts each day. Itโ€™s great to wake up each day to a snapshot of whatโ€™s happening in the global markets.

2.  @GoForexApp

A very solid app which teaches Forex trading and constantly updates you about current financial news. The app gets straight to the point by telling you everything you need to know with rich illustrations, that will make forex trading much more interesting for you.

3. @LizAnnSonders

As the chief investment strategist of Charles Schwab & Co. Sonders, she tweets out her thoughts about the economy. This is definitely one of the must follow twitter accounts to get a feel for how investment professionals think and act in the markets.

4.  @NorthmanTrader

Fantastic technical and macro advice from a highly followed investor with nearly 40k followers worldwide.

5. @bySamRo

This account is managed by the managing editor of Yahoo Finance. As youโ€™d expect, his tweets demonstrate useful insights that can notify you of key data events coming up.

6. @ErikFossing

Erik Fossing Nielsen is the group chief economist at UniCredit. His tweets can provide you with immediate insight into political situations in Europe.

7. @KLCapital

This account is managed by the investment team of Gavekal Capital. They provide a lot of market updates from their blog and include excellent charts for you to follow.

8. @CiovaccoCapital

Managed by Chris Ciovacco, who is the founder and CEO of Ciovacco Capital Management. He tweets lots about the S&P 500 and provides excellent annotated charts to go with his tweets.

9. @JLyonsFundMGMT

Dana Lyons, a partner at J.Lyons Fund Management, manages this account. She provides an informative chart or trend which you can use as great opportunity to make profit.

10. @TDANSherrod

Nicole Sherrod runs this account. As the managing director of trading at TD Ameritrade, she tweets about top trades, charts on sector performance and other interesting and relevant information. Besides that, she also sneaks in updates on her own life.

Follow as many as you like and combine their knowledge with your own! We’re sure that one day you too will have thousands of followers as a super successful trader. Give us a message then!

Why beginners social trading

Social Trading For Beginners

Why beginners social trading
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Social Trading Benefits Forex Finance Illustrated

eToro is a multi-asset platform which offers CFD and non-CFD products.
51% 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.

Take 2 mins to learn more

One way you can ease yourself into Forex trading is to utilise Social trading to take away some of the initial pain from the learning curve associated with learning any new skill.


When you are learning something new, even if you have done a tremendous amount of research, you will be stepping out into the unknown. This can be quite frightening and it is natural to feel a certain amount of nerves. However, similarly to the forex game, social trading platforms, that weren’t available just a few years ago.

1. You Learn For Free

In the past it was almost impossible to find a trading mentor to learn from. Unless you were working at a fund or investment bank, your chances of ever finding a big time trader willing to show you their strategy was next to zero. With the rise of social trading you can now see exactly how profitable traders make their money – an invaluable advantage for an upcoming trader.

2. Your Money Is Working For You

Some beginners stick to testing their skills on a trading simulator until they can prove to themselves they are ready to risk their money. This means they have risk capital sitting around doing nothing. On the other hand choosing a trader to manage your money will be an educational experience in itself.

3. Practical Examples Always Beat Theory

There are many educational pieces and videos all over the web telling you in theory how to make money. It’s nothing compared to seeing someone actually trading in the markets with verified results. This will give you the conviction to start trading, something that most beginners struggle with, because they haven’t seen it in action.

4. Start As Small As $200

In order to invest in a big hedge fund you often have to have extremely large amounts of money, as some buy ins run into the millions of dollars. With social trading you can get all of the benefits of having someone else manage your money without having to have enormous amounts of money.

5. Your Only Job Is To Check The Results

If you donโ€™t have time to put in the effort into researching trades and following the data, social trading is the tool for you. Best of all, you can easily keep your daily job and just review the results at the end of every day.

6. You Don’t Need An Expensive Trading Consultant

The social trading interfaces nearly always have a blog section, which means you can not only follow the trade history of a superstar trader. You can actually talk to the person as well. Ask them questions about trading.  Follow their forex twitter accounts. It will give you the confidence that you know exactly what they are doing with your money.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Donโ€™t invest unless youโ€™re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. This is not investment advice.
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eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.