The foreign exchange market, also known as forex or FX, is the largest and most liquid financial market in the world. With a daily trading volume of over $5 trillion, it offers plenty of opportunities for traders around the globe. However, to trade on the forex market, you need a reliable and trustworthy forex broker. In this article, we will explore the best forex brokers outside Australia.
1. IG Markets
IG Markets is a global leader in online trading, offering a wide range of financial instruments, including forex, CFDs, and shares. The broker was founded in 1974 and is headquartered in London, UK. IG Markets is regulated by the Financial Conduct Authority (FCA) in the UK and is a member of the FTSE 250 Index.
IG Markets offers an excellent trading platform, with access to over 80 currency pairs and tight spreads. The broker also provides a range of educational resources, including webinars, trading guides, and a demo account. Customer support is available 24/7 via phone, email, and live chat.
2. Plus500
Plus500 is a well-established forex and CFD broker, founded in 2008 and headquartered in Israel. The broker is regulated by several reputable authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).
Plus500 offers an intuitive trading platform, with a wide range of financial instruments, including over 70 currency pairs. The broker also offers a demo account and a range of educational resources, including video tutorials and a knowledge base. Customer support is available 24/7 via phone, email, and live chat.
3. eToro
eToro is a social trading platform that allows traders to copy the trades of other successful traders. The platform was founded in 2007 and is headquartered in Israel. eToro is regulated by several reputable authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).
eToro offers a user-friendly trading platform, with access to over 50 currency pairs. The platform also offers a range of educational resources, including webinars, video tutorials, and a demo account. Customer support is available 24/7 via phone, email, and live chat.
4. XM
XM is a forex and CFD broker, founded in 2009 and headquartered in Cyprus. The broker is regulated by several reputable authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC).
XM offers a range of trading platforms, including the popular MetaTrader 4 and MetaTrader 5 platforms. The broker also offers access to over 55 currency pairs and tight spreads. XM provides a range of educational resources, including webinars, video tutorials, and a demo account. Customer support is available 24/7 via phone, email, and live chat.
5. Pepperstone
Pepperstone is a forex and CFD broker, founded in 2010 and headquartered in Australia. While the broker is based in Australia, it also has offices in London and Dallas. Pepperstone is regulated by several reputable authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Dubai Financial Services Authority (DFSA).
Pepperstone offers an excellent trading platform, with access to over 70 currency pairs and tight spreads. The broker also provides a range of educational resources, including webinars, trading guides, and a demo account. Customer support is available 24/7 via phone, email, and live chat.
Conclusion
In conclusion, there are many excellent forex brokers outside Australia. When choosing a broker, it is important to consider factors such as regulation, trading platforms, currency pairs, spreads, educational resources, and customer support. The five brokers listed above are all reputable and trustworthy brokers that offer a range of financial instruments and excellent trading conditions. However, it is important to conduct your own research and choose a broker that best suits your trading needs and preferences.
