How do I identify real ECN brokers

Forex Broker Comparison 2021 »The Best Online Brokers

Do you also want to benefit from the sometimes large fluctuations on the global currency markets? Then you need a broker. But not just any, but the best broker. You can easily find it with our great Forex Broker Comparison 2021. Independent reviews, real experiences, honest recommendations. We make it easier for you to choose faster in the money to land. But we don't stop at Forex trading. Stocks, binary options, and CFDs are also very popular. Therefore, we also compare providers from these areas for you.

On you will find an extensive collection of detailed online broker test reports. But that's not all! You can also get a Overview of the experiences of other traders procure. That way, it should be easy to find the right broker for your trading activities and, in the end, to select the best broker. There are suitable brokers for numerous brokers on Test reports and customer experiences including videos.

The offer is rounded off on through advice on the subject of brokerage, the stock exchanges around the world, and numerous other topics. We research different strategies for you and thus help to make your trading more effective. For example, try the carry trade strategy or get to know the potential of the MACD indicator.

The top forex providers at a glance
rankprovidersCFD tradingAccount fromcostsMin. Trading amountReviewTo the provider
77% lose money0 €A +0,01XTB
To the provider
81% lose money100 €A.0,01Admiral Markets
To the provider
65% lose money100 €A-1Tickmill
To the provider
478.3% lose money100 €B.0,01BDSwiss
To the provider
572.76% lose money100 €B.1 micro lotHF Markets
To the provider
676.4% lose money100 €A +variablePlus500
To the provider
771.4% lose money$ 200 AUDA +0,01Pepperstone
To the provider
871% of private CFD accounts lose money200 $B.0,01eToro
To the provider
971% lose money100 €A.0,01AvaTrade
To the provider
10CFD Service - 78.04% lose money5 USDB +0,
To the provider
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Securities trading offers these advantages - and it has this potential

There are several advantages to trading in securities. So you can benefit from a high return and there is the possibility of generating (additional) income by trading securities. Trading binary options in particular offers the chance of high profits - Returns of 90 percent or more are not uncommon in this area. In terms of the conditions and the fees for individual orders, it is primarily the discount brokers who lure their customers with low prices. In this way, inexpensive securities trading is often possible. But even with the larger and larger brokers and direct banks, the trading fees are usually not much higher.

The offer The overall potential is therefore very high and offers you as a trader the opportunity to establish a new financial pillar. However, one should always keep the possible risks of losing capital in mind.

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A brief portrait of the individual broker types

For trading in securities there are a large number of brokers on the market. In many cases, these offer their customers a trading option, but different brokers are also more versatile and allow traders to trade flexibly with different instruments. A basic distinction is made between four different types of brokers. So that you can get a better picture in the forex broker comparison, these are presented in more detail below:

Stock broker

An online stock broker primarily offers its customers the securities of listed stock corporations. Trading in shares is basically the core area of ​​securities trading, as it is limited to the essentials. In the case of shares, it is Share certificatesthat can be acquired by investors at (fixed) issue prices. Trading in shares is possible through a share broker on the stock exchange but also on over-the-counter trading venues. The Broker acts as a middleman and usually charges its customers a commission for this. This is known as brokerage.

Binary options broker

Binary options trading has to be considered once again in a differentiated way. In this case As a trader, you speculate on a rising or falling price. The returns in this case are very high, but the business is just as risky. Various brokers offer their customers a return of up to 99 percent, so that if you speculate correctly, you can win a lot of money very quickly. When trading binary options it is always about futuresthat can range from a few seconds to a significantly longer term (12 months +).

CFD broker

Trading CFDs describes buying and selling contracts for difference. The English name is Contract for Difference. With CFD trading you speculate as a trader on price changes and trade outside of the stock exchange. Almost every base value can be traded and in addition to trading in share CFDs, many CFD brokers also offer trading in commodity or index CFDs. In this way, you are very flexible as a trader and can often benefit from an extensive range of trading instruments. As a trader, you also have the choice of whether SHORT or LONG should be traded - this means that you either bet on falling price differences or on increasing price differences.

Usually CFD brokers are also Forex brokers at the same time. So if you decide in our forex broker comparison for a provider, then you usually open an account with a forex / CFD broker, which basically only brings advantages for you.

No matter which type of broker you choose - at you will definitely find the right provider for your perfect entry into the trading world. Once you have decided on your favorite financial instrument, our great online broker comparison will help you. We noticed that you should at least know the most important technical terms in this regard. So let's not waste any more time.

Technical terms from the world of trading briefly explained


The leverage makes it possible to generate higher profits (but also losses) with comparatively lower capital investment. Leverage often plays a role, especially when trading contracts for difference. This is, for example, 30: 1 and in this case means that if you invest one currency unit, you are trading in 30 currency units. The other 29 currency units are to be understood as a loan from the broker. If you win, you simply pay it back. However, if you make a loss, the leverage can quickly exceed your own capital, so that a high leverage is always to be assessed as a risk.


The spread is the difference between the current buying and selling price. The spread is calculated by subtracting the selling price from the buying price - it is given with one decimal place. The spread thus describes each current trading range between buying and selling of a trading instrument. The spread is one of the most important comparison criteria in the forex broker comparison.


There are various brokers who charge commissions for individual positions. These commissionsare often based on the trading volume. In addition, most brokers calculate a so-called minimum value. Even if the order volume is lower, the minimum commission fee will be charged. However, individual brokers also waive commission fees.

Demo account

A demo account or demo depot is provided free of charge by many brokers (but by no means all). As a trader, this gives you the opportunity to use your own capital even before trading Overview of the trading system - or you can train your first strategies or acquire the basics for trading. With a demo depot, you are offered an additional service that is often only available for a limited period of time (14 days or four weeks).


Trade fees are all costs that arise in connection with trading. In addition to the commission, this also includes external fees (for example by brokers, stock exchanges) or flat rates that the broker charges for placing an order. With most brokers, the trade fees are kept very transparent and it is precisely this factor that you should consider when choosing the right broker. Because unclear or unclear fee structures can quickly lead to nasty surprises.

In addition, account management fees for the custody account or for the clearing account can also be included in this area, as they are related to trading.

Minimum deposit

Most brokers have a minimum deposit. This describes the sum that the trader at least as the first deposit must in order to enable trading in stocks, forex instruments or CFDs. In many cases, the minimum deposit is at a low level, but with some brokers, four-digit sums must be paid in before you can start trading in securities.

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FAQ: The most important questions and answers at a glance

How does stock exchange trading work via an online broker?

New customers register with a broker of their choice and make a deposit into their trading account. You can then trade currency pairs such as EUR / CHF or USD / EUR on the foreign exchange market for a small fee using the broker's trading software. Trades are processed via the liquidity provider, who sets the buying and selling prices and enables orders to be executed with leverage after a security deposit, the so-called margin, has been deposited.

How do you make safe trades?

Since securities and foreign exchange trading are always speculative transactions, you cannot make a 100 percent secure trade. However, there are ways to make trading safer. For beginners, this primarily includes the use of the existing teaching materials that are made available by the brokers. In this way, you learn, among other things, how to use indicators such as the MACD and market analyzes correctly, what the ideal money management should look like and what trading giants such as the Minilot are all about. Trading signals and limit orders such as the stop loss or the trailing stop are also explained in detail to the beginner.

How do the brokers differ from each other?

In a personal comparison in search of the test winner, private investors will quickly notice that providers such as Qtrade, CapTrader or ArgusFX differ from one another primarily in their offerings: While one company focuses on raw materials, the other offers a variety of futures or trade indices like the Dow Jones. In addition, the providers also differ in their market model: With market makers, STP and ECN brokers, the trader experiences differences in terms of the execution of orders and the fee structure.

Which trading platform is the best?

In the world of trading, different trading platforms are made available by the providers: In addition to the MT4 and MT5 from Metaquotes, this also includes platforms such as the TradingStation, the ActivTrader or the xStation. This includes both downloadable programs and web-based software. Which platform is the best depends primarily on the requirements and ideas of the trader.

How do you find the ideal trading style?

Once you have dealt with the offers from different traders and the fascination with price fluctuations, the financial market and various market models, you will quickly be contacted with various trading strategies. The most popular are day trading and swing trading, but the different analysis methods are also decisive here. While day traders usually rely on a variety of indicators to increase their chances of winning, other traders only trade with the "pure" chart. Decisive about which is the right trading style, your own willingness to take risks and the existing experience.

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How should beginners start?

Before dealing with the peculiarities of the lever, various indicators or forex traders in detail, you should gain experience in the demo account. The play money that goes with these accounts offers beginners various options: Potential new customers can deal with trading in general and with the trading interface of the respective provider and then draw their own conclusions without having to invest real start-up capital. With reputable providers, you can usually use such a demo account without making a deposit - if you have any questions, it is worth contacting customer support.

What is the risk in online trading?

Since online trading of stocks, currencies or commodities such as gold is always a matter of speculation, a high risk of loss plays an important role. If, for example, there is high leverage, the deposited margin can be used up quickly and the customer has to pour in more money. A wide range of educational opportunities should therefore not be underestimated when looking for a broker. In addition, the seriousness of the provider should not be ignored during the test: The cooperation with a well-known financial supervisory authority usually suggests that the respective provider is a serious partner.

How do you develop a strategy?

If you do not want to follow the trading strategies of professionals via social trading, you can instead make use of various other opportunities to get to know trading systems. A demo account offers a protected framework to develop your own strategies or to replicate trading strategies published online. However, even with tried and tested trading strategies, you should only gain experience in the demo account.

The top 5 forex providers at a glance

In the past, forex trading was mainly done by banks and large investors. But in the meantime private investors have also discovered trading in currencies for themselves. To be able to participate in the forex market, you need an account with a forex broker. The problem: there are many brokers and even more individual needs. For these reasons, we test independently and objectively for you. Our goal is to bring you as an investor together - without a long search - with the individually correct Forex provider.

If you want to start trading forex as a trader, you should do your research beforehand. What is the potential? What are the risks? Is this forex broker reputable? As mentioned, there are numerous providers with whom you can trade currencies and other trading instruments. The art is to separate the wheat from the chaff. Especially as a beginner - but also as an experienced trader - it can be helpful to seek help for orientation. Below you will find our forex broker reviews.

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94 Forex Broker Reviews & Customer Reviews

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How to Identify a Good Forex Broker

When choosing your forex broker, you can use numerous selection criteria. We recommend paying particular attention to the following points:

  • security
  • Trading conditions & environment
  • Free demo account
  • Customer service & support
  • Awards

A broker who active for many years is and multiple awards may be preferable to a new provider. Above all, however, the regulation by financial regulators and deposit insurance are an indication that this is a reputable broker acts.However, you can also give new providers a chance if aspects such as customer service and support are right. In the end, however, a comparison is always useful and can help you to find the best broker for you. In this way you can invest actively and successfully in foreign exchange trading and do not need to worry about the seriousness of the provider.

Finding a suitable forex broker can be complicated. Especially if you don't (yet) know the basics of Forex. For this reason, you should first familiarize yourself with these.


An important aspect in the area of ​​security is the regulation of a broker. Many forex brokers are regulated today and are therefore under control and Supervision by an authority. However, you will not find regulation with every broker, so it is worthwhile to compare different providers in this regard as well. Regulation ensures that the provider is allowed to offer trading at all and creates a safe trading environment for you. In addition, regulation by a supervisory authority offers you protection when it comes to Move finances to the broker. However, the regulation has no influence on the general risk involved in trading.

You should also have a Deposit insurance respect, think highly of. This protects your capital if the provider should become insolvent or insolvent. Then you can still access your capital. "Safety first!" Also and especially when trading financial instruments. Many traders value regulation, for others this aspect is negligible and less relevant. However, especially as a beginner, you should carefully consider whether a Regulation of the broker for you it may not make sense and, above all, may also be reassuring.

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Trading conditions & environment

The respective ones are also very important Trading conditions of the individual forex brokers. Costs incurred, such as the spread or fixed costs per trade, play an important role. Last but not least for your ultimate profit. For a scalper, for example, it makes a difference whether it is now 0.1 pip spread or 0.3 pips are up for debate. Be sure to find out whether at 0.0 pips spread eventual Fixed costs are required. The advertisement is also sent in the field of forex trading. The offered lever also plays an important role, whereby beginners with lower levers are well advised.

Of course, it is also important that you have a professional and reliable environment for Forex trading is provided. This can be a safe and easy to use software like the Metatrader 4 or - its successor - Metatrader 5 be. Many forex brokers also offer in-house trading platforms. Also mobile apps play a role for many traders nowadays, as in this way their own account can be used very comfortably and flexibly on the go.

Market maker, STP and ECN broker

Not all brokers are the same. There are sometimes big differences between the individual providers, so you should also consider what kind of provider you want to be active with. There are three different categories of forex brokers. Not all of these types are suitable for beginners, for example. A so-called Market maker provides its traders with all courses for buying and selling currencies independently, which can sometimes lead to a problem. Because by losing the trader in a transaction, the broker makes a profit - so there is a conflict of interest.

At a ECN broker However, if the price is not provided directly by the broker, instead you use it as a trader an electronic network for the trading. Each participant in the network can make offers and participate in trading. The demand thus controls the courses. There is also STP brokerthat put your orders on the market immediately, giving you quick execution. With a market maker you will usually find higher spreads than with the other broker types. With an STP broker, you can often already on a very low budget get into trading.

Free demo account

With a demo account you have a service with many forex brokers that is versatile and effective. You can use it to get to know the trade and get a first impression. You can also test strategies extensively or simulate individual trades. Under real market conditions you can get to know Forex trading and deal intensively with it. However, it may be the case that the demo account is limited in time. Sometimes even for a few weeks. However, you never run a financial risk with demo access.

The demo accounts of many brokers allow you to use all possible functions, so that you can also deal with the trading platform provided. Afterwards, it will be much easier for you to start real trading with your own capital. With many providers you also have the option of using the demo access with a mobile app, so that you can also become familiar with the mobile trading system. If your broker provides a demo account, you should definitely use it. This applies to beginners as well as experienced traders.

Customer service & support

To one good forex broker you should also take a look at the website. Does it look serious and does it offer clear structures? Is there Translation error or poorly readable sentences? How quickly can you find the information you need? On the basis of these factors you can often already recognize a good broker and thus decide on a provider.

Quite apart from the money, you should also go for the service respect, think highly of. A reputable broker can be reached quickly and easily and will help his customers directly if problems arise. If, on the other hand, there is only an email address available or if answers are long in coming, you should refrain from using a provider. Existing Training offers are always a good sign and ensure that you as a trader can continue to educate yourself at any time so that your own trading can be designed more effectively.

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Conclusion: When choosing a forex broker, a precise comparison is advisable

For you as a trader, the Comparison of different brokers be very important in order to get an overview of the individual providers and their offers. But the comparison often plays an important role when it comes to deciding on a broker in the end. After all, this way you can decide which broker is the one for you best conditions offers everything to do with trading and is therefore an option for your trading.

In doing so, you should use various factors and in this way unite comprehensive insight procure. There are many brokers in the markets, but not all of them are suitable for every trader. Especially as a beginner you can hardly know what to look out for at the beginning which aspects are important. At first glance, you usually cannot separate the wheat from the chaff here. With help of a Forex broker comparison, you have the opportunity to find out more and thus also to decide with which broker you would like to use an account for trading currencies.

Compare Forex Brokers Using an Infographic

As already known, various factors can play a role for you when comparing brokers for Forex trading. It can also be the leverage that decides with which broker you open an account for trading. A current infographic provides information about which Forex broker you can use the highest leverage. You will also find details on the minimum amount for deposits so that you can determine which provider is suitable for you for Forex trading based on your capital. Overall, the infographic provides a practical overview and compares the best forex brokers from Germany and the EU.

In addition to the factors already mentioned, this graphic also gives you information about the amount of the spreads that are required by the brokers. You can use this to form an opinion as to which provider can carry out the trade particularly cheaply or more cost-intensively. Some of the spreads start at 0.0 pips, but sometimes rise to three pips or other values. For this reason alone, a comparison is also advisable so that you can find a broker who can make cost-effective foreign exchange trading possible for you.

Generally speaking, you are interested in the cost of Forex trading. With some brokers you can use the account for free, other brokers charge a fee for it. You also have to pay attention to whether fees for deposits or withdrawals are due with a broker. This is often the case when you want to make a withdrawal by credit card, as the credit card providers often charge fees. The broker then passes this on to you. In addition, fees may also apply if you want to receive more than one payout per month. The details can usually be found in the terms and conditions of the respective brokers.

Market maker, STP and ECN broker in comparison

If you as a trader decide to start trading currencies and invest, the choice of broker naturally plays a role that should not be neglected. With a forex broker, you don't just have to pay attention to seriousness, reliability and performance - the type of broker also plays a role from time to time. Forex brokers can basically be divided into three different categories. There are the so-called market makers, STP brokers and also ECN brokers. As a trader, you can find out what differences there are and what is important when choosing the right broker type in the following guide. Here you will find extensive information, explanations and details on the individual types of broker in Forex trading.

The different broker types offer flexible options for Forex trading and ensure that you as a trader can easily and purposefully participate in trading forex. Nevertheless, there are individual aspects to be considered and observed in relation to the different types of brokers. There are some advantages as well as disadvantagesif you choose an ECN broker, for example. The same also applies to market makers or STP brokers. In any case, regulation plays an important role for traders, which can guarantee security and reliability to a certain extent.

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What is a market maker and what should you watch out for with such brokers?

A so-called market maker offers you, the trader, the entire course for buying and selling currencies. Supply and demand are thus regulated by the broker himself and behind this there is a simple principle and model for the execution of the transactions. The Purchases and sales of the individual traders are carried out via the trading platform provided and weighed against each other. For example, if trader A sells a currency, trader B can buy it. The profit for the broker is achieved through the spread - the difference between the buying and selling price.

As a rule, a market maker does not take part in trading himself. This only occurs if there is an oversupply or an insufficient supply on the market. In such a case, the forex broker has to place a position on the market himself - but hedging is possible here, but this does not have to be used. If a trader loses in a transaction, this ensures a profit for the company in a position by the broker - this can sometimes be a real conflict of interest that is repeatedly criticized. This aspect should also play an important role for you when choosing a broker. In addition, most market makers offer higher spreads, which are usually fixed. With other brokers, you can often use (significantly) low spreads instead.

What is an ECN broker and what are its possible advantages?

This is a little different with an ECN broker. ECN is the abbreviation for Electronic Communication Network and means that it is an electronic network for communication. As a trader, you are directly integrated into a network and are also jointly responsible for liquidity. Every participant in this network can place orders and thus participate in trading - of course this is also possible for you as a trader. With an ECN broker, all courses are formed and controlled by supply and demand.

In the broker's order books, you always have the option of viewing all current transactions - including important details such as prices and the quantity offered. Many ECN brokers do not charge spreads, but there are also providers who still use spreads. At least the broker has no earning potential through this - therefore, in many cases, commissions are charged for participating in trading. In the worst case, you as a trader have to pay a spread and a commission for trading, which is handled differently by a market maker.

The advantage of an ECN broker, however, is that there cannot be any overlap in the interests of traders and brokers. You can also directly participate in foreign exchange trading and mostly benefit from attractive conditionsthat ensure cheap and lucrative trading. As a rule, order execution is faster with an ECN broker and you as a trader can also make use of strategies and, for example, rely on scalping - most market makers do not allow such strategy patterns.

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STP Brokers for Forex Trading in Focus: What's the Difference?

Compared to a market maker, an STP broker usually offers lower conditions and all orders are forwarded directly to the market and there can be no conflicts between your interests and those of the broker. However, the seriousness and reliability of an STP broker can usually only be recognized on the basis of a few criteria - regulation is a very important aspect that should definitely be taken into account. Straight Through Processing means the abbreviation STP and this can be translated with an immediate transmission to the trading market. Your trades will therefore be forwarded to the bank without any detours.

With an STP broker you will mostly discover parallels to a market maker, since individual parts of the trade are carried out as a market maker. Variable or fixed spreads are equally possible when trading with an STP broker. An STP broker In addition, it usually enables entry into trading with very little capital and in many cases acts more professionally than a pure market maker. The low costs are still a reason why many trading beginners switch from an ECN broker to an STP broker after a while. This saves fees and makes trading more lucrative overall.

Forex trading: which type of broker you should choose

In many cases, the choice of the right broker is up to your trading circumstances and your own wishes. If you as a trader would like to use scalping as a strategy, for example, you should look around for an ECN broker, as such a provider usually allows the use of this strategy. With a market maker this is often different and scalping is not permitted. For beginners, on the other hand, it hardly matters whether they choose a market maker or an ECN broker - The direct order execution is not immediately noticeable, especially at the beginning, so that this aspect can initially be neglected.

If you decide on an ECN broker, you should make sure in advance that you can benefit as much as possible from the individual advantages of such a provider and that the existing disadvantages do not have any major effects. The available budget is also important for this. ECN brokers have often set higher minimum deposits and also charge higher commissions. The decision in favor of a market maker or an STP broker is in many cases the better decision if you (initially) only want to invest a small amount in trading.

Many ECN brokers offer more professional trading conditions for you as a trader, but such providers are often not necessarily aimed at inexperienced traders or at traders with a low budget. In addition, you cannot definitely determine which broker type is best suited for you and your trading style. In addition to the regulation and the conditions for trading Personal feelings also play a role in choosing the right provider. Furthermore, the already existing experience with trading currencies with a forex broker must also be taken into account.

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Capital, experience and professionalism determine the choice of broker

If you as a trader can raise the necessary capital and value a high level of professionalism, you should choose an ECN broker. There are no conflicts of interest here, as there can be with a market maker, for example, with his traders. However, the comparison of the conditions for trading is possible in any case and is very important regardless of the decision for market maker, STP or ECN broker and should definitely be carried out.

The best forex brokers for trading currencies

In the following you will find individual brokers who are definitely recommended for trading forex and offer traders the best possible and professional trading conditions. With the broker Plus500 trading can be described as very risky, but you can benefit from extensive and varied regulationprovided by the provider. In this way, entry into trading is professional and reliable, and you can also make use of flexibly usable platforms for trading.

The best conditions and a professional platform for trading can be found at Admiral Markets. With an investment of only 200 euros you can start trading and use a high leverage of a maximum of 1:30 when trading forex. This holds the potential for lucrative order execution and, as an ECN broker, Admiral Markets also offers a demo account that can be used flexibly. Various training courses and tools for targeted and professional trading can be found at the broker FxPro. Here, as a trader, you have the opportunity to participate in trading with very low spreads and to be able to trade on many world markets. From 0.6 pips you can participate in EUR / USD trading and benefit from particularly lucrative conditions that offer you a lot of potential for you as a trader.

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Forex Broker: What Trading Options Are There?

Trading currencies offers great potential and you can take advantage of numerous options. In principle, trading in currencies can be described as simple and easy to understand. As a trader, however, it is important to pay attention to certain things in order to get the best out of trading and to benefit comprehensively from Forex trading. Various trading options as well as the use of strategies ensure that you experience a lot of flexibility as a trader and can thus easily and purposefully achieve a high return. Especially as a beginner, however, you are usually only partially informed about the numerous trading options for Forex trading.

In the following you will therefore find an initial overview of the various Forex trading options and the resulting advantages. However, any disadvantages, risks and peculiarities also play a role that should not be neglected. This gives you a compact overview and can henceforth effectively and successfully participate in foreign exchange trading. Different trading options provide different options and in some cases offer higher potential than other options. In addition, many trading modes are only recommended after extensive training and are therefore particularly suitable for experienced traders. As a beginner, however, it can't hurt to find out more about this and to get a basic overview.

The 5 minute trade for fast Forex transactions

Especially when time is short and you as a trader want to make profits "as fast as possible", a 5 minute trade can be the best option. It will only little time is required and there is no more than 300 seconds between opening a trade and closing it, i.e. five minutes. This trading opportunity has the advantage that you as a trader can make a profit quickly and do not have to wait long for a trade to be completed. As a trader, however, you also have to take into account any losses that can also be a consequence of the 5 minute trade.

A 60 second trade can be executed even faster than in five minutes. This trading mode is particularly popular when trading binary options, but it can also be used quickly and easily in forex trading. In this case, instead of after 300 seconds, the trade closes again after one minute - Both trading options are recommended if a clear trend can be identified that can be followed. For example, when a price is clearly rising or falling and a trend can thus be clearly identified.

Use indicators for the greatest possible success

When trading currencies, it is often important that you carry out analyzes in advance of a trade. Indicators are ideally suited for this. These can be stochastic tools, for example