Would you like to invest in complete security? Let’s take a look at the list of the most reliable brokers we have in Spain for operating in the Forex market. According to our research, these are the most reliable when it comes to buying and selling currencies as a form of transaction.
The best Forex brokers: The most reliable
With so many brokers being advertised on the Internet, it’s easy to get dizzy when you decide to invest in Forex. It’s not an easy task to choose the most reliable one, personally I don’t know which one is the most reliable. It is advisable not only to be well informed on the subject, but also to consult people who have a great deal of experience and who do not promote a provider in exchange for commission.
To choose the best Forex broker, you first need to understand what it’s all about, so that you can handle the subject properly and avoid embarrassing situations where you lose money through ignorance.
What is a Forex broker? What is their role in the foreign exchange market?
A Forex broker is defined as an entity that puts currency traders in touch with the foreign exchange market. They operate on the interbank market, where banks exchange currencies electronically at prices that may vary from one bank to another.
Wikipedia gives the following definition: “A broker is a person or institution (broker) that mediates transactions between a buyer and a seller and receives a commission when the transaction is executed”.
Do you need a currency trading account?
A currency trading account is a bit like a bank account that allows you to buy and hold currencies while you wait for changes in fluctuations and sell them at a better price. Currencies are specifically bought in pairs.
For example, if you invest in currencies and buy euros, you can hold that currency and wait for the US dollar to become cheaper than the euro over a given period. To make a profit, you need to sell when the dollar loses strength against the euro.
What is a forex broker?
A forex broker is a broker through which you can enter the banking network to buy and trade currencies. Before the existence of this broker, you needed a lot of money and a good relationship with a financial institution, i.e. a bank, to be able to trade foreign currencies!
List of the most recommended brokers on the market
Don’t forget that when we talk about the Spanish market, we’re talking about the language, not Spain (which, incidentally, is partly Spanish-owned). Without further ado, we leave you with the list of brokers that, according to various sources, are the best:
- 1- ActivTrades.
- 2- FIBO Group.
- 3- FXCM.
- 4- FxPro.
- 5- FXTM.
- 6- Markets.
- 7- Plus500.
- 8- Trade12.
- 9- XM.
- 10- XTB.
If you’re really interested in choosing the best possible broker, it’s best to open a demo account and take your time until you’ve checked that everything is going well. I recommend that you do this with each of the brokers on the list that interest you, as our aim is for you to be careful and make a good decision.
You may be new to the foreign exchange market. In that case, I recommend that you educate yourself about buying and selling currencies and try to get to know the workings of each company or person involved in the whole process.
Trading currency is not that difficult or complicated. Although it may seem so at first glance, it is possible to succeed with the right training, patience, perseverance and a good broker.