In Ukraine, interest in making money in the international money market is growing. This is an affordable way to increase your capital if you make the right decisions and manage the risks.
However, first of all, you need to find a good Forex broker. And here it is important to check not only the trading conditions, but also check whether the company has legal documents, reviews of real customers.
Traders Union has compiled a rating of Forex brokers in Ukraine. These companies have gained the trust of local traders, proving their reliability, honesty and solvency. More details in this article.
What criteria should be considered when choosing a broker?
Trading in the financial markets is full of risks, but the chances of making money will be zero if you fall for a scammer. According to Traders Union analysts, when choosing a brokerage company, it is important to check:
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regulation. Having a certificate of registration and license from a reputable regulator (CySEC, FCA, etc.) will guarantee that the company intends to cooperate honestly and comply with international law.
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Client service. The presence of multilingual support, various contact details (email, phone, etc.) speaks in favor of the broker. It is good if the company has an office in Ukraine, where you can contact personally and consult.
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Experience. Traders Union experts note that it is safest to trust funds to those companies that have been providing brokerage services for more than a year, have impressive statistics, and have authoritative awards. For example, IC Markets has been operating since 2007 and has proven its reliability during its existence.
When compiling ratings, Traders Union also conducts a detailed comparison of trading conditions among different brokers. Various tools and methods for profit, spread, leverage, the size of the initial deposit are analyzed. Based on the sum of these indicators, an important score is formed.
Top 5 Forex Brokers in Ukraine
According to the Traders Union, the rating of the best Forex brokers providing services to Ukrainian traders includes:
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RoboForex. More than 3.5 million investors have chosen to work with him, and the company is constantly expanding its client base (there is also a representative office in Ukraine). Among the main advantages of this broker: an honest initial deposit of 10 USD, favorable trading conditions, a unique service for automatic monitoring of CopyFx, immediate withdrawal of funds. Among the minuses – the lack of an account in Hryvnia, a small variety of trading instruments in some tariffs;
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Exness. The company has been working in Forex since 2008 and offers comfortable conditions for cooperation (including for beginners). The minimum deposit is only $1. Among the minuses: training is exclusively in English, VPS hosting is free with a deposit of $500 or more;
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IC Markets. Like other brokers from the Traders Union rating, this company is licensed and operates under international law. In addition, he is a member of The Financial Commission and participates in a compensation fund (in case of force majeure, clients can count on payments of up to 20,000 euros);
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Pocketoption. The broker is praised for having free training and qualified support, generous bonuses, a combination of a binary options platform and classic Forex trading. Among the minuses: lack of trust management, balance interest, withdrawal limits.
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Forex4you. The broker has been operating since 2007, it is great for working with both professionals and beginners. The Traders Union says that the advantages of this company include high-quality customer service, the absence of trading restrictions, the availability of insurance and cent accounts. However, it is necessary to consider the shortcomings: in some accounts, a relatively high fixed commission is set, there is no support for the hryvnia.
The right choice of a broker is 50% of success in trading in the financial markets. So you should study the information yourself and consider the recommendations of experts.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.