Visit Pepperstone74-89% of retail investor accounts lose money when trading CFDs
Visit IC Markets74-89% of retail CFD accounts lose money
Visit FxPro72.87% of retail investor accounts lose money
Visit IG Markets69% of retail CFD accounts lose money
Visit Forex.com81% of retail investor accounts lose money
Visit eToro76% of retail CFD accounts lose money
Visit AvaTrade76% of retail investor accounts lose money
Visit OandaCFDs are not available to residents in the United States
Visit Interactive Brokers74-89% of retail CFD accounts lose money
Visit Saxo Bank72% of retail investor accounts lose money
The best professional Forex brokers, according to our research, are:
- IC Markets
- IG Markets
- Interactive Brokers
- Saxo Bank
A “forex broker for professional” refers to a forex (Foreign Exchange) brokerage firm or platform that caters specifically to experienced and professional traders.
These brokers typically offer a suite of advanced forex trading platforms and tools, features, and services designed to meet the nuanced needs of professional traders.
In this article, we have grouped the best forex brokers for professional trading.
To make this list, we have taken the following elements into consideration:
- the availability of a professional account
- the leverage available
- the advantages you get with pro trading
- the protections you give up
|Brokers for Professional traders
|Max Leverage for PRO Customers
What are the best forex brokers for professionals?
Below our curated list of the best forex brokers for professional traders, with details of features and characteristics.
How to become a professional forex trader
In every major regulatory area, including the EU, UK, Australia, Canada, and others, there are requirements you will need to meet to be designated a professional trader. These typically relate to trading in high volumes, having experience with managing large amounts of money, and having professional financial work experience in the forex/CFD area.
Using ESMA for EU regulations as an example, you must meet at least two of the following requirements:
- Have working experience in the field of forex or CFD (or related fields) of at least 1 year
- Opened at least ten significantly sized transactions per quarter during the past year
- Have a financial portfolio exceeding 500,000 EUR in value
How long does it take to become a professional forex trader?
An average forex trader takes at least 2 years of continuous practice, time and dedication to become a professional forex trader.
Forex traders must:
- Control emotions while trading to avoid closing positions out of fear
- Know how to control risk to earn more than they will lose
- Know the market to understand how a certain thing can move the prices
- Know when and how to stop to avoid being too greedy or keep trading on a bad day
The best steps to follow for getting started are listed below:
- Open a forex demo account to get a grasp of forex trading in a risk-free environment.
- Start studying and trading at the same time. You can apply for a forex trading course or use online content such as babypips and lots of other great educational forex content.
- Open a low-budget trading account so you are not risking huge amounts of money. You can use cent accounts for this purpose.
- Open a regular brokerage account with a forex broker when you feel ready to engage in full live trading.
How much do professional forex traders make?
Professional forex traders on average try to achieve a profit of 5-15% per month. This means that on a $10,000 account, they try to generate between $7,000 to $36,500 per year taking into account the compound income.
However, being a professional in no way guarantees that you will make a profit. Being a professional only refers to the trading methodology used, not to the amount of profits, which are never guaranteed.
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