General What is a broker and which one is recommended?

[Kay0025]

?Name the best thing that the mighty powers of the Internet have brought us. YouTube, Facebook, Netflix, TikTok, BabyPips.com…
Yes, those are all awesome.

Okay, maybe not TikTok.

But what we want to talk about is the greatest gift to forex junkies like you and me: Retail FX trading!

In fact, forex junkies probably wouldn’t exist if not for the birth of online forex brokers.

You see, back in the 90s, it was much more difficult to participate in the retail FX market because of higher transaction costs.

At that time, governments were like strict parents keeping a watchful eye on exchanges, restricting their activities. After a time, the CFTC decided that enough is enough.

They passed a couple of bills, namely the Commodity Exchange Act and the Commodity Futures Modernization Act, and opened the doors for online forex brokers.

Since almost everyone had access to the worldwide web, opening an account with a forex broker was simple and convenient.

 

[Tradingqueen]

You didn't mention your location because it matters since some brokers don't allow certain countries to register with them. I hear a lot of good things about IC Markets but I can't use them from the USA. I use Forex.com and IG. I highly recommend you doing your own research and try to compare the top brokers' pros and cons before you choose.