• Skip to primary navigation
  • Skip to main content
  • Skip to footer
Trading Heroes

Trading Heroes

Forex Trading Education

  • Free Tutorials
  • Products
  • Resources
  • About
  • Login

Best Forex Brokers

Home / Recommended Forex Trading Resources / Best Forex Brokers

Your broker is one of your most important partners in your trading success. They should be fair and reliable. To that end, these are the brokers that I recommend.

Obviously, you should do your own due diligence when selecting a broker. These brokers may not be a good fit for all traders, so figure out what works for you. By trading with these brokers, you accept 100% responsibility for your choice.

This is not trading advice, just my opinion.

Oanda

Oanda broker

I've traded with Oanda US for years and they provide a feature that is vital to the success of new and experienced traders alike…nano lots.

This allows traders to take exactly the right amount on risk on every trade and is especially important for traders who are starting out with small accounts.

Other brokers that only allow trading through MetaTrader require you to round your lot size to the nearest micro lot.

When traders are forced to round their trades up they are taking more risk than is optimal and can lead to bigger drawdowns.

When traders have to round down, then aren't making as much as they could be. If their wins don't make up for their losses, they can experience losses, even when their trading strategy should have positive expectancy.

So if you are in the US, my favorite US broker is Oanda. You can trade with Oanda in other countries, so that might be an option for you too. You can learn more about Oanda here.

Scandinavian Capital Markets

Scandinavian Capital Markets

Regulations in the US and many places in Europe have become more and more restrictive.

The primary downside of this is that available leverage in Forex trading has gone down considerably. Sure, too much leverage can be dangerous for beginners.

But not enough leverage is dangerous for professionals. 

Full-time traders with large accounts spread their money across multiple brokers and prefer to keep a large chunk of their trading funds in their bank. This protects them from surprise market movements. However, this also means that they need more leverage to comfortably execute trades.

This is where a broker like Scandinavian Capital Markets is a huge asset. They are regulated in Sweden and provide good (but not excessive) leverage.

The best of both worlds.

If you are a full-time trader, then I recommend talking to Scandinavian Capital Markets.

I have met with them personally and feel that they are one of the few regulated, non-US brokers that are operating with integrity and actively work on establishing positive business relationships with their clients.

Scandinavian Capital Markets is not for new traders. You should have some experience in trading before signing up with them.

But if you are outside the US and you are an experienced trader, I feel that they are an excellent option. Since I'm in the US, I can't trade with them. But I would, if I could.

Learn more about Scandinavian Capital Markets here.

Coinbase Pro

Coinbase Pro

If cryptocurrency trading is your thing, then I recommend trading with Coinbase Pro. To get started, you can claim some free Bitcoin here (with qualifying purchase).

I've found that the Coinbase platform is super stable and deposits/withdrawals have been very smooth.

Since they are in the US, you can also be assured that they are regulated and can accept US clients. Other international cryptocurrency exchanges are kicking out US clients, so if that has happened to you, consider Coinbase Pro.

The best part is that you can also use Coinbase to send/receive cryptocurrency, and Coinbase Pro to trade. If you have a business, Coinbase Commerce is also a good option. It's like PayPal for cryptocurrency.

They are your one-stop shop for everything cryptocurrency.

To kick off your trading, get $10 of free Bitcoin when you buy $100 (or more) of cryptocurrency.

 

 

 

Disclaimer: Some links on this page are affiliate links. We do make a commission if you purchase through these links, but it does not cost you anything extra and we only promote products and services that we personally use and wholeheartedly believe in. A portion of the proceeds are donated to my charity partners. 

Footer

Company

  • Support
  • About Trading Heroes
  • Trading Courses and Education
  • Recommended Resources
  • T-Shirts & Trading Gear
  • Charities We Support

Tutorials & Guides

  • Free Forex Trading Course for Beginners
  • Best of Trading Heroes
  • Forex Trading Blog
  • Best Trading Books
  • Forex Trading Strategies
  • What is Forex?
  • Podcast

Community

  • YouTube
  • Twitter
  • Dtube
  • Odysee
  • Flote
  • Minds
  • Private Trading Community
  • Contact
Trading involves substantial risk and there is always the potential for loss. All content on this website is for educational and informational purposes only and is not trading, investment, or medical advice. You should be aware of the risks associated with trading and seek advice from an independent certified financial adviser if you have any doubts. Some links on this page might be affiliate links, where we get a small commission if you purchase through the link. It doesn't cost you anything extra and we only recommend products that we absolutely love. This site uses cookies and using this site means that you agree to the use of cookies.

 

CFTC Rules 4.41 - Hypothetical or Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, because the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Testimonials appearing may not be representative of other clients or customers and is not a guarantee of future performance or success.

 

 

 

 

 

Copyright © 2007–2021 TrueLiving Media LLC | Terms | Privacy | Risk