You may be considering starting a carry trade, but are not sure where to start. You need to choose a forex brokerage that is suited to carry trades. The best brokers will provide you with exceptional liquidity and quality trading tools. In this article, we will review a few options and discuss their benefits. We recommend that you compare different brokerages to find the right one for your needs. Listed below are the best forex brokerages for carry trades.
IG. This broker is well regulated, and is available to US traders. They offer a variety of features to beginner traders, including a demo account and web and mobile apps. They offer several forex trading platforms, including MetaTrader4 and ProRealTime. Spreads are low, and their charting tools are extensive. They also offer support for multiple accounts and multiple asset classes. If you are new to the forex market, this is the brokerage for you.
Risks. Carry trading can be a risky strategy, as it only pays off when a currency s interest rate is higher than the other. A carry trade, however, allows you to leverage your money, and interest payments are made to your broker on the entire amount. Carry trades are popular during periods of low volatility, but carry trades require comprehensive risk management to avoid losses. For this reason, it is important to choose a brokerage that offers comprehensive risk management.
IC markets caters to a variety of traders and offers various platforms on desktop and mobile. An ECN forex broker should have a large number of tradable currency pairs for FX carry trade. The currency pair view should also include exotic currency pairs. You can find these by viewing the properties of these currency pairs. The currency pairs in a trading platform should have positive swap, which is essential for a carry trade strategy.
The minimum deposit required for an account with HotForex is $50. The spreads are tight on EUR/USD and GBP/USD, making these pairs an excellent choice for beginners. The broker is also regulated by multiple top bodies including the FCA. HotForex is known for its excellent customer service. Its fees are low compared to the average in the forex industry. You will also find low minimum deposit requirements with these trading platforms. Most trading platforms also have low minimum deposit requirements. Traders can deposit and withdraw their funds via PayPal, credit cards, or electronic wallets.
There are several top forex brokers in the U.S. market, but many of these companies do not accept American clients. The brokers listed above, however, are all regulated and therefore perfectly safe for Americans to use. The CFTC has stated that most scams in the forex industry involve unregistered products, companies, or people. You should also consider the financial standards of a forex broker before using one. This way, you can rest assured that your money is safe.