For starters, an FX bank is a financial institution offering both banking and brokerage services to retail and institutional clients. If a certain corporate investor (or a big-scale trader with tons of money) wants to get involved in trading or investing activities in financial markets (Forex ad other markets) while demanding an exceptional level of security of funds coupled with unrivaled trading conditions, a banking institution rendering such services is obviously the best option in this case!
One of the biggest factors contributing to the security of banks rendering FX brokerage services to retail traders is the fact that they are licensed and regulated by major financial authorities like the FCA, for example. This means a lot!
The good news is that all those services and products offered by FX banks are now available even to small-scale retail traders and investors since the minimal deposit requirement is now around $500-$1000. When it comes to considering the leverage, it is usually lower than the one offered by conventional brokers and optional but it still exists and can be used if necessary. On top of that, bank brokers offer their clients several trading platforms, including MetaTrader 4 or MetaTrader 5, which can be called the most popular software among retail FX traders.
Anyway, most traders out there still may have a hard time choosing a broker even among the industry's best. There are dozens of excellent options for all traders out there. Basically, that’s why Masterforex-V Expo decided to come up with another unbiased rating of FX brokers . This time it’s dedicated to the banks offering FX services to retail traders and investors.
Best FX Banks. July 2016
TOP3:
- Saxo Bank
- Swissquote Bank SA
- Alfa Forex
The rest of the rating:
- Nefteprombank
- Dukascopy Bank SA
- HY Capital Markets
- MosOblBank
- IRB
- UFXBank
- Rietumu Banka
- Integral Bank
- vPE Bank
- Varengold Bank FX
