Compare your Forex Broker in Romania
Best Forex Brokers in Romania
The global forex market is by far the world's largest and most active financial market. When looking for the "best" forex brokers, both beginners and experienced traders look at some important features. The most important of these are:
- general trading experience
- product offers (currencies, commodities, indexes, CFDs, spread bets, etc.)
- trading platforms
- customer support
- trade education
To find out the list of Romanian forex brokers, take a look at the list below.
Here is a list of the best forex brokers in Romania:
Best Forex Brokers for last Year
To trade forex, you need an online broker. Trading with a trusted forex broker is crucial for success in international currency markets. As a currency trader or investor, you may have specific needs related to which platform, tool, or research requirements you have. Understanding your investment style can help determine which fx broker will be best for you.
IG - In general, the best forex broker, the most reliable
- Regulated and trusted around the world, IG offers traders excellent trading and research tools, industry-leading education, competitive prices and a wide range of products for sale. This fantastic comprehensive experience makes IG the best general broker in 2021.
- Saxo Bank offers special offers for traders who can afford the minimum deposit ($ 10,000 / 500 GBP for the UK): competitive prices, great trading platforms, excellent research, reliable customer service and more than 40,000 tools for trading
- CMC Markets is a globally trusted broker that offers a number of great offers for traders, such as the Next Generation trading platform, which is full of nearly 10,000 marketable instruments, high-quality research, innovative trading tools, and strong charts.
- TD Ameritrade FX - An excellent trading platform only in the US
- City Index - Excellent comprehensive offer
- XTB - Great customer service and platform
- Forex.com - Excellent comprehensive offer
- eToro - Great copy trading platform
How do I choose a forex broker?
- First and foremost, make sure the broker you want to choose is licensed and regulated. Security is the most important factor in this area.
- Second, you need to compare the account offers, trading platforms, tools and investment research provided to you by brokers.
- As a result, read and compare reviews to find the most relevant and important one for your forex trading and investment needs, for example, the number of possible forex pairs or CFDs in trading
Romanian Forex Brokers
The Romanian online forex market does not seem to be a center of power in terms of volume. However, traders here have long been engaged in this trade, using brokers available in the local market.
Romania, a member of the EU since 2007, has complied with EU financial regulations. Thus, the EU allows licensed brokers to operate under this jurisdiction. In this regard, brokers regulated and licensed by CySEC are accepted. It should be noted that the country's financial institution is the ASF (Autoritatea de Supraveghere Financiara) and the National Bank of Romania (BNR), which oversees the stability of the national currency (Romanian lei (RON)).
There are certain vulnerabilities for unregulated brokers, such that brokers cannot operate legally in the country. It is known that the Romanian government has taken a special preventive step against such brokers. In 2016, police raided the offices of several unregulated brokers and arrested 130 people.
Advantages and Disadvantages of Forex
Advantages of Forex
The largest market in the world is the financial market. The market offers special benefits to its participants. The basis of these proposals is as follows:
Let's start with flexibility first. The forex market gives traders flexibility. There is no limit to the amount of money used for trading. At the same time, there is almost no regulation of the market. The market operates 24/7. People who have a steady job can also trade Forex on weekends or at night.
2. Trade options
Forex markets offer traders a wide range of trades. Traders can trade by choosing hundreds of currency pairs. They also have the opportunity to sign a future contract. Future contracts may have different amounts and terms. Accordingly, the Forex market offers different options for each investor in each budget to take risks.
Also, there is a large trading volume in the Forex markets. There is more trade here than anywhere else in the world. That is why Forex provides liquidity to its traders, who can easily enter and exit the market at any time.
3. Transaction Costs
The Forex market requires lower transaction costs than other markets. Compared to the interest item, the cost of trading Forex is lower than in other markets.
Disadvantages of Forex
As in any field, the Forex market has its advantages as well as its disadvantages. To understand the issue more clearly, let's look at them in the following order:
1. Counterparty Risks
Forex is an international market. Every country has a different currency. For this reason, it is difficult to regulate. This creates a large-scale unregulated scenario in the Forex market. Therefore, there is no centralized exchange that can guarantee that the auctions are risk-free.
2. Operational Risks
It is very difficult to manage Forex trading operations operatively. This is because even though Forex always works, people don't. Therefore, traders have to resort to a sequence of actions to maintain the value of their investment, as they are far away.
Accordingly, if any trader does not have the capital or does not know how to manage their positions while away, Forex markets can suffer significant losses at night or on weekends.
3. Leverage Risks
Forex markets provide maximum leverage to traders. The word leverage automatically means risk, and it means 20-30 times more risk. A trader can lose all his investments in a few seconds if he makes leverage bets, given that there is no limit to the amount of movement that can be completed in the Forex market on a given day. Beginners and inexperienced investors are more prone to such losses because they do not yet understand the nature of leverage risk.