Best FOREX Brokers in France 2023
As the number of new brokers in the FOREX market increases, firms in the industry are putting more focus on keeping their customers happy to safeguard their profits. Customers are worried about the dangers of trading FOREX with the wrong broker. As such, they could really do with the guidance required to stay away from low-quality brokerage firms. For this reason, we will be listing the best FOREX brokers in France today. This list is the result of a detailed review process carried out by Arincen. We will share our review methodology so traders can understand why we chose the companies we did.
Best FOREX Broker in France for 2023
| Company name | Regulations | Minimum deposit | Main branch | Open account |
|---|---|---|---|---|
FXDD |
$450 | USA | ||
ICM Capital |
500$ | United Arab Emirates | ||
XTB |
500$ | UK | ||
IG |
500$ | UK |
| Company name | FXDD |
| Regulations | |
| Minimum deposit | $450 |
| Main branch | USA |
| Company name | ICM Capital |
| Regulations | |
| Minimum deposit | 500$ |
| Main branch | United Arab Emirates |
| Company name | XTB |
| Regulations | |
| Minimum deposit | 500$ |
| Main branch | UK |
| Company name | IG |
| Regulations | |
| Minimum deposit | 500$ |
| Main branch | UK |
Top Tips for Choosing the Best FOREX brokers in France
There are numerous outstanding FOREX brokers operating in France. As always, it's paramount to safeguard your investments by partnering with a broker who has a proven history of success in this market. Undertaking thorough research is the key. Here are some of the most crucial elements to keep in mind when selecting a broker in France:
• The broker must be supervised by a high-tier regulatory body, which could be a local French regulator or an international one
• The broker's fee structure must be competitive
• The broker must provide a broad range of financial assets for trading
• The broker must boast a customer service team that responds promptly and efficiently
• The broker should have a comprehensive package of research tools and educational resources available.
• The broker's fee structure must be competitive
• The broker must provide a broad range of financial assets for trading
• The broker must boast a customer service team that responds promptly and efficiently
• The broker should have a comprehensive package of research tools and educational resources available.
Best Broker and Platform for Beginners in France 2023
Take a look at our expert’s top 7 FOREX brokers in France for 2023
- FXDD - Best Overall Broker
- ICM Capital - Best Deposit and Withdrawal Broker
- XTB - Best Customer Service Broker
- IG - Best Regulations Broker plus Convenient Platform
- Saxobank - Excellent Private Trading Platform
- CMC Markets - More than 9,000 Assets
- Think Markets - Aimed at the Audience of Traders
FXDD Broker
FXDD received the highest score in our survey (92.15). One of the first FOREX companies to offer a credit card in order to allow traders to withdraw their profits, this New York-based company has the UK's FCA license under its belt. It also has a rich portfolio of assets, offers a relatively low spread, in addition to the MetaTrader4 (MT4) platform. Further, it has excellent and fast customer service, and also offers traders a variety of ways to deposit money.
| Broker Evaluation | 7.22 |
| Regulatory Bodies | |
| Minimum Deposit | $450 |
| Islamic Account | yes |
| Payment Methods | Bank transfer - credit card - Electronic Banks - Crypto |
| Main Branch | United States of America |
| Customer Service | 24/5 |
| Demo account | Yes |
| Trading Platforms | MT4 - MT5 - C TRADER -Web Platform |
Pros
-
Established in 2002.
-
Segregated client funds.
-
Low minimum deposits.
-
No commissions on the Standard Account.
-
A choice of two account jurisdictions.
-
Multiple platform support and comprehensive market data and analysis.
-
A good range of currency pairs and other assets to trade.
Cons
-
Not available to traders in the US.
-
Relatively limited range of instruments.
-
EU-client leverage restricted to 1:30.
ICM capital Broker
ICM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.
| Broker Evaluation | 8.11 |
| Regulatory Bodies | |
| Minimum Deposit | 500$ |
| Islamic Account | yes |
| Payment Methods | Bank transfer - credit card - Electronic Banks - Crypto |
| Main Branch | United Kingdom |
| Customer Service | 24/5 |
| Demo account | yes |
| Trading Platforms | MT4 - MT5 - C TRADER -Web Platform |
Pros
-
Segregated client funds.
-
Regulated by the UK’s FCA.
-
Established in 2009.
-
More than 10,000 ICM Capital users and traders.
-
Reasonable minimum deposit from $500.
-
Decent funding options.
-
No swaps.
-
MetaTrader4 (MT4) desktop and mobile download.
Cons
-
Does not allow scalping.
-
Not ASIC-regulated.
-
Relatively limited range of instruments.
-
Slow live-chat service.
-
Relatively high trading fees.
-
Limited range of trading tools and resources
XTB Broker
What distinguishes XTB is the fact that it offers the best customer experience among all the companies we have surveyed. Indeed, it boasts the fastest response rate from all the companies under investigation. This is especially relevant, since the market is always on-the-go, and so you need to act fast. XTB offers lots of asset classes, as well as the ability to use the MT4 trading platform. Finally, it maintains a relatively low spread, which is suitable for quick deals.
| Broker Evaluation | 8.55 |
| Regulatory Bodies | |
| Minimum Deposit | 500$ |
| Islamic Account | yes |
| Payment Methods | Bank transfer - credit card - Electronic Banks |
| Main Branch | United Kingdom |
| Customer Service | 24/5 |
| Demo account | yes |
| Trading Platforms | MT4 - MT5 -Web Platform |
Pros
-
Long history of operation.
-
Globally recognized, having won multiple awards.
-
Some of the lowest FOREX spreads in the market.
-
Regulated by the FCA (UK).
-
Offers protection for client accounts.
-
Emphasis on customer service.
-
Excellent support, learning and research tools.
Cons
-
Does not accept US clients.
-
Non-FOREX spread costs are relatively high.
-
No GSLO.
-
No back-testing or automated trading capabilities.
-
Conditions vary according to regulation and entity.
ig markets Broker
IG is arguably the best broker when it comes to security and trust, boasting, as it does, licenses from 10 regulatory bodies, including the all-important FCA from the UK. The company is also a bank and is a publicly traded company in London. It is known for offering more than 10,000 asset classes of currencies, commodities, future contracts, ETFs, indices, cryptocurrencies etc. Further, it has its own state-of-the-art trading platform and offers a relatively low spread.
| Broker Evaluation | 7.54 |
| Regulatory Bodies | |
| Minimum Deposit | 250$ |
| Islamic Account | yes |
| Payment Methods | Bank transfer - credit card - Electronic Banks |
| Main Branch | United Kingdom |
| Customer Service | 24/5 |
| Demo account | Yes |
| Trading Platforms | Proprietary Platform -MT4 - Web Platform |
Pros
-
Easy-to-navigate platform that is simple for beginners to master.
-
Margin rates are easy to understand and affordable.
-
Mobile and tablet platforms offer full functionality of the desktop version.
-
Accepts US clients.
-
Access to more than 100 currency pairs
-
Emphasis on education and research.
-
Regulated by the FCA (UK), as well as the CFTC and the NFA (US).
-
Offers protection for UK/EU client accounts.
Cons
-
US traders can currently only trade FOREX.
-
No GSLO for US-based traders.
-
No account protection for US clients.
-
Relatively high share-CFD fees.
-
No copy trading or back-testing integration on IG platform.
SAXO BANK Broker
Saxobank is considered one of the best investment banks in the area of financial markets and currencies, as it offers the very best trading platform and tools from all the companies we have reviewed. Meanwhile, its spread is very low and, as such, suitable for short-term deals; and it offers a large number of asset classes, including currencies, commodities, indices etc. Finally, its customer service is excellent and very responsive to traders' needs.
| Broker Evaluation | 6.09 |
| Regulatory Bodies | |
| Minimum Deposit | 10000$ |
| Islamic Account | No |
| Payment Methods | Bank transfer - credit card |
| Main Branch | Copenhagen, Denmark |
| Customer Service | 24/5 |
| Demo account | No |
| Trading Platforms | SaxoTrader |
Pros
-
Extensive range of offerings.
-
Regulated by the FCA (UK) and other top regulators.
-
Great trading platform.
-
Among the industry’s best research.
-
Superior user interface.
-
Offers protection for client accounts.
Cons
-
High bond, options and futures fees.
-
Lack of emphasis on customer service.
-
Confusing instrument fee structures.
-
High minimum deposit.
-
Does not accept US clients.
-
No MT4.
-
Lacks live chat.
CMC MARKETS Broker
CMC Markets is thought of as one the best companies, offering some 9,000 asset classes that encompass currencies, commodities, indices, cryptocurrencies, bonds and stocks. The company offers a relatively low spread, the MT4 platform, and fast customer service. It is most suited for traders looking for diversity in asset classes.
| Broker Evaluation | 7.07 |
| Regulatory Bodies | |
| Minimum Deposit | 0$ |
| Islamic Account | No |
| Payment Methods | Bank transfer - credit card - Electronic Banks |
| Main Branch | United Kingdom |
| Customer Service | 24/5 |
| Demo account | not |
| Trading Platforms | Proprietary Platform -MT4 - Web Platform |
Pros
-
Extensive range of offerings.
-
Regulated by the FCA (UK).
-
Low FOREX fees.
-
Emphasis on education and customer service.
-
Great Web and mobile platforms.
-
Offers protection for client accounts.
-
Research amenities are industry leading.
Cons
-
Does not accept US clients.
-
Limited product portfolio.
-
High stock CFD fees.
-
High CFD spreads for certain indices.
-
Differences between Next Generation and MT4.
-
Complicated account verification.
-
No back-testing or automated trading capabilities.
think markets Broker
Originally founded in New Zealand in 2010, and moving to Australia within the space of their first two years, Think Markets is a global online brokerage focusing on FOREX and CFD trading. In addition to a range of major and minor currency pairs. Think Markets has an array of CFDs on offer. This includes indices, as well as hard and soft commodities.
| Broker Evaluation | 8.05 |
| Regulatory Bodies | |
| Minimum Deposit | 0$ |
| Islamic Account | yes |
| Payment Methods | Bank transfer - credit card - Electronic Banks - Crypto |
| Main Branch | Australia |
| Customer Service | 24/5 |
| Demo account | not |
| Trading Platforms | Proprietary Platform -Web platform-mt4- mt5 |
Pros
-
Beginner assistance offered through 24/6 channels.
-
Spreads are as low as 0.0 pips.
-
24/7 expert customer service.
-
CFD shares and indices come at no extra fee.
-
Zero broker fees for FOREX trading.
-
Technical analysis and quality market information.
-
Percentage allocation management module (PAMM) and Multi-account manager (MAM) accounts available.
Cons
-
Direct share trading is on a separate platform.
-
No binary options offered.
-
Commissions charged for two account types.
-
After a strong early start, ThinkTrader user ratings have slid to 3.4 stars.
-
No US, Canada or Japan clients allowed.
What Is FOREX and Why Do We Need a Broker to Trade?
If you are a new trader, you need to know that the FOREX market is the largest financial market in the world at some six trillion dollars daily, only followed by the credit market. The FOREX market operates 24 hours a day and five days a week (Monday through Friday), except international holidays. Brokerage firms play a key role in this regard by enabling clients to buy and sell through a trading platform. This could be done either on a personal computer (PC) or by using a smartphone.
How Do I Choose the Best FOREX Broker in France?
France is a dynamic economy that hosts one of the most vibrant FOREX markets in Europe. This market has continued to thrive despite the fact that France has a conservative personal investment outlook and is heavily regulated.
In France, retail traders’ exposure to risk is heavily ring-fenced to prevent them from suffering heavy losses. The country’s regulators have tried to keep citizens far away from dangerous investments. FOREX trading is legal in France provided that brokers are regulated by the local regulator, the Autorité des Marchés Financiers (AMF). Therefore, choosing a broker is made that much easier because you do not have to worry about being overly exposed to risk. All brokerage firms doing business with French citizens are expected to provide guaranteed stop losses. They must also offer negative-balance protection. This leaves you to select a broker based on other factors. like platform strength, the number of accounts the broker offers, its market depth and variety as well as the performance of its trade execution.
In France, retail traders’ exposure to risk is heavily ring-fenced to prevent them from suffering heavy losses. The country’s regulators have tried to keep citizens far away from dangerous investments. FOREX trading is legal in France provided that brokers are regulated by the local regulator, the Autorité des Marchés Financiers (AMF). Therefore, choosing a broker is made that much easier because you do not have to worry about being overly exposed to risk. All brokerage firms doing business with French citizens are expected to provide guaranteed stop losses. They must also offer negative-balance protection. This leaves you to select a broker based on other factors. like platform strength, the number of accounts the broker offers, its market depth and variety as well as the performance of its trade execution.
FOREX Regulations in France
France FOREX brokers who offer their services to French citizens must be regulated by the AMF. Whether the broker is based in France or in another country, it is required to obtain this important license. The AMF compels brokers to stick to common best practices, like keeping their operating funds separate from client funds, complying with strict leverage rules and staying away from offering bonuses and overly generous promotions.
The AMF works closely with the Markets in Financial Instruments Directive (MiFID) legislation. MiFID rules are designed to ensure that all brokerages that operate in the EU follow the same regulations. The broader financial sector in France is supervised by the Autorité de Contrôle Prudentiel et de Résolution (ACPR). This independent administrative body works closely with the French central bank to ensure oversight of banks, pension funds, and insurance companies operating in France. All these agencies work in concert with the European Securities Markets Authority (ESMA), headquartered in Paris, which acts as an EU-wide financial market regulator.
It is always a good sign if your broker is active in other countries and has been regulated by other tier-1 bodies. like the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), which are considered to be two of the best regulators in the world.
Commissions and Fees in France
FOREX traders in France are subject to standard fees. like spreads, which is the difference between the bid and ask levels of a currency pair. Brokers may choose to build their revenue portion into the spread, which makes the spread wider than the market spread, or they can offer the market spread and give traders the option of paying a commission per transaction.
Tradable Assets and Instruments
FOREX trading remains popular among French traders, even though they work within a restrictive regulatory environment. The instruments that brokers can offer are impacted by the stringent rules put in place by French authorities. As we have mentioned, these include guaranteed stop losses, negative-balance protection, and tightly controlled leverage.
Contracts for difference (CFD) are legal in France but come with restrictions designed to manage the significant levels of risk involved when trading with such volatile instruments. The maximum leverage for FOREX CFDs should not exceed 1:20 for minor pairs and 1:30 for major pairs. By comparison, less restrictive jurisdictions are known to permit leverage as high as 1:500. That apart, all the normal market assets can be offered, such as regular FOREX trading, commodities, bonds, exchange traded funds (ETF) and stocks.
Payments, Deposits and Withdrawals in France
Different brokers have their own rules and limits on the size of the deposits, withdrawals and lots that traders can process. Most France-based FOREX brokers offer all the regular payment methods, such as bank transfers and credit or debit cards offered by popular carriers. E-wallets are a convenient way for French traders to transact online. Common methods, like Skrill, Neteller and Paypal, are supported with ease.
FOREX Trading Customer Service
As timing is key to FOREX trading, you must pick a brokerage firm that is able to provide good customer support around the clock. This most notably includes the company representatives being easy to reach, fast and polite, which will, in turn, spare you from having to worry about problems down the road.
Technical Aspects of the Broker’s Website
When it comes to sharing sensitive personal information online, such as a credit card, cyber security is paramount. You should, therefore, always look for SSL certification and two-factor authentication (especially when registering with a new site).
To provide our users with peace of mind, we at Arincen have introduced the “Company Checker,” which is an online tool directly linked to an international Website called Scamadviser. The latter is an independent site that checks the countries in which these FOREX Websites are managed, where the server is located, in addition to other security and informational aspects. It ranks FOREX firms by granting them a score ranging from 0% to 100%, with the best FOREX firms usually receiving a score of 90% and above. Any company that has achieved a score lower than 85% should thus be avoided. Simultaneously, whenever looking for a new FOREX broker, users must ensure its Website is fast, modern and user-friendly.
Trading Platforms, Tools and Features
The most common trading platform you will find in France is MetaTrader’s MT4 product. This software is a staple of FOREX trading around the world, and so it is no surprise that it is widely adopted in France.
As for tools, FOREX brokers in France offer the same set of tools you can find in any developed market. The best brokers offer advanced algorithmic trading that can support large volumes of trades with high uptime and little lag. Brokers can also offer electronic assistance (EA) and high-end market analysis and insights.
Ask Other Traders on Our Network
Arincen is where traders meet to sample a social trading environment where every investor is welcome. Traders can benefit from powerful communities and learn from each other. Even beginner traders find a home here, as they can study the moves made by successful traders with long track records. We encourage you to ask other traders on our network about their experience of working on our Website.
Which FOREX broker has the best platform?
MetaTrader’s MT4 platform is a highly regarded third-party interface used by many FOREX traders arouind the world. Its features are well-recognized and are known by many. However, if you are interested in trying something different, you may consider a proprietary platform. In this instance, we recommend you try Saxo Bank for its advanced trading features and high-performance tools with in-depth market analysis.
Which FOREX broker charges the lowest fees?
After conducting thorough research, we can say with confidence that FXDD’s ECN account offers the best low fees for any kind of trader.
Which FOREX broker offers the most CFDs?
If trading CFDs is your preference, and you are looking for a broker with a wide range of CFD instruments in which to invest, try CMC Markets or IG, both of which offer a plethora of CFDs to invest in.
Which FOREX broker offers the most assets?
If you are the type of trader who is always on the lookout for new assets to try and you are frustrated by the limited range offered by your broker, spend some time looking into the extensive range of assets on offer from CMC and IG, two brokers synonymous with endless asset class choice.
Which FOREX broker is best for professionals?
Professional traders can be hard to please. They have learned the ropes and know what they want. They do not settle for platforms that offer unresponsive execution times or limited functionality. They are also on the lookout for a platform that features in-depth market analysis that comes with insightful and advanced indicators. In this case, you should look to MT4, an industry staple that offers all of the above.
How to Check if Your Broker Is Trustworthy ?
At the get-go, it is important to learn more about regulatory bodies and their role in the FOREX market. These are government entities charged with regulating the sector. Their role is two-fold:
1. Observing and regulating the work environment in the FOREX market; and
2. Protecting investors and their funds.
FOREX firms must obtain at least one license from a relevant regulatory authority. Otherwise, they should be avoided at all times. In this context, we present the five most important FOREX market regulatory bodies from around the world.
1. The FCA, UK;
2. The Swiss Financial Market Supervisory Authority (FINMA);
3. The Australian Securities and Investments Commission (ASIC);
4. The Financial Markets Authority, New Zealand; and
5. The National Futures Association (NFA), US.
While FOREX market regulatory bodies exist in almost every country, these are the most important five and also the strictest. To learn more about other regulatory bodies, please visit en.arincen.com, where you will find a comprehensive global database.
1. Observing and regulating the work environment in the FOREX market; and
2. Protecting investors and their funds.
FOREX firms must obtain at least one license from a relevant regulatory authority. Otherwise, they should be avoided at all times. In this context, we present the five most important FOREX market regulatory bodies from around the world.
1. The FCA, UK;
2. The Swiss Financial Market Supervisory Authority (FINMA);
3. The Australian Securities and Investments Commission (ASIC);
4. The Financial Markets Authority, New Zealand; and
5. The National Futures Association (NFA), US.
While FOREX market regulatory bodies exist in almost every country, these are the most important five and also the strictest. To learn more about other regulatory bodies, please visit en.arincen.com, where you will find a comprehensive global database.
How to Verify that Your Broker Has Authorization
To verify if a FOREX broker is licensed by the AMF and the ACPR, you must identify the registry number from the information at the bottom of the broker's homepage. From there, look up the company’s name on the financial register, which can be found on the Bank of France's Website. You can check the status of the broker and confirm if it is in good standing.
In this introduction, we took a look at the best FOREX brokers in France. We began by identifying the best five FOREX brokers in the country, listing and ranking them by their Arincen trustscore. We then briefly described the regulatory environment governing these companies (more on this later on in the article). Finally, we advised readers how they should go about ensuring that the broker they are looking into is licensed by a tier-1 regulator, such as the UK’s FCA, and, therefore, deemed trustworthy.
In this introduction, we took a look at the best FOREX brokers in France. We began by identifying the best five FOREX brokers in the country, listing and ranking them by their Arincen trustscore. We then briefly described the regulatory environment governing these companies (more on this later on in the article). Finally, we advised readers how they should go about ensuring that the broker they are looking into is licensed by a tier-1 regulator, such as the UK’s FCA, and, therefore, deemed trustworthy.
The Dos and Don’ts of FOREX Brokers
One of the first things a new FOREX trader ought to do is to check the extent to which the FOREX company abides by the rules and regulations governing its operation. Emphasis must be placed on what it can and cannot do.
There are seven things brokerage firms cannot do:
The FOREX brokerage firm cannot recommend a buy or sell;
There are seven things brokerage firms cannot do:
The FOREX brokerage firm cannot recommend a buy or sell;
- The FOREX brokerage firm must not provide price or market expectations (rise/fall);
- The FOREX firm cannot control your financial dealings (deposit/withdrawal);
- The FOREX brokerage firm should not “manage” your portfolio under any circumstance;
- The FOREX brokerage firm cannot grant a client a bonus unless there are clear terms guiding it from beforehand;
- The brokerage firm must not use bank accounts not under its name; and
- FOREX brokerage firms cannot have or offer the service of account managers.
In short, the role of brokerage firms is strictly confined to facilitating buyers and sellers to come together toward an agreed-upon commission. FOREX brokerage firms that violate any of the seven rules aforementioned should be avoided. However, should the trader wish to receive any of the above-mentioned services, our advice is to seek an expert Website like Arincen, something we will delve into toward the end of this article.
FOREX Trading Scams and How to Avoid Them
The financial system in France is designed to ensure that it is very difficult to conduct fraudulent activity in the system. Brokers that violate France’s regulatory guidelines do so at their peril as they quickly discover the AMF will not hesitate to add them to a blacklist. The AMF has the power to block their Websites to prevent access from any resident of France.
In one example of how fast the system moves to shut down non-compliance, the AMF banned binary options trading for France FOREX brokers and within three years of the announcement had closed down over 138 illegal binary options and foreign exchange Websites. As such, many of the common FOREX trading scams perpetuated by illicit Websites swiftly get identified, reported and shut down.
In one example of how fast the system moves to shut down non-compliance, the AMF banned binary options trading for France FOREX brokers and within three years of the announcement had closed down over 138 illegal binary options and foreign exchange Websites. As such, many of the common FOREX trading scams perpetuated by illicit Websites swiftly get identified, reported and shut down.
Will Your Money Be Protected if Your Broker Becomes Insolvent?
The AMF takes a keen interest in how French traders are treated by FOREX brokers and financial services firms of all kinds. If you have a genuine grievance and can prove that you were defrauded by an AMF-licensed broker, you are eligible for compensation up to $200,000. The same applies to broker insolvency.
Recommended Brokers
What Tools and Platforms Should FOREX Brokers Offer?
FOREX brokers are constantly striving to create the best combination of tools and features that cater to the needs of every trader. The trading platform is a very important part of a FOREX broker’s service offering – some would say it is the most important part. This is because it is the interface that traders spend hours of each day poring over. If there are any design or performance flaws, these quickly become unbearable.
In addition, brokers are obliged to create a full-service offering that includes access to several different account types for traders of every level, rapid execution speeds and detailed market insights and analysis. Traders also want access to the most competitive liquidity providers and charts that are easy to read and trade from. Finally, customer service is increasingly important as new traders enter the marketplace and seek answers and assistance.
Which FOREX broker has the best platform?
MetaTrader’s MT4 platform is a highly regarded third-party interface used by many FOREX traders arouind the world. Its features are well-recognized and are known by many. However, if you are interested in trying something different, you may consider a proprietary platform. In this instance, we recommend you try Saxo Bank for its advanced trading features and high-performance tools with in-depth market analysis.
Who is Arincen and What Do We Do?
Put simply, Arincen is a social networking platform that brings together traders and experts to exchange expertise and ideas. Together, we evaluate the best FOREX companies in the world while offering a compressive suite of services and tools, all in one place, either via a computer or a mobile app. The platform is so rich, one can create his own private portfolio of traders and experts they like and, at the same time, follow their recommendations and investment sentiments.
Further, thanks to Arincen, users can keep an eye on market-price developments, as well as the latest news. Users can also benefit from the network’s educational courses on offer, to say nothing of exciting Webinars – all done in a modern and fast-paced work environment. Get all what you need in one place, not less, not more. In short. Arincen: We Meet to Simplify the Trading World.
Conclusion
If anything, the key message to take away from this article is that the FOREX brokerage firm one picks must be legally licensed and well-regulated. On a final note, it is never advisable to deal with FOREX companies on your own. It is best this is done with the help of industry experts, who can provide you with all the services FOREX companies cannot. Start trading using Arincen and enjoy all the services, advice and tools it has to offer while making your trading experience profitable!
Arincen’s Review Methodology
The team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was conducted in three ways:
- Companies’ Websites.
- Other Websites that have ranked FOREX companies.
- A survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise. We have identified 13 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets, etc.
Afterward, we validated the data by:
- Registering with FOREX companies as a secret shopper and/or as Arincen.
- Survey number “2,” in which we asked these companies’ customers for important feedback and past experience.
The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung, etc.
To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies to evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more on how we came up with the evaluation, please click here.
FAQ
Is FOREX trading legal in France?
Yes, FOREX trading is legal in France. Brokers must be licensed by the AMF and must provide guaranteed stop losses and negative-balance protection, all the while abiding by strict leverage guidelines.
What is FOREX?
The FOREX market is where global currencies are traded and exchanged. It is a large and fast-moving market that requires sophisticated and up-to-date tools if you are to participate. The market operates 24 hours a day and five days a week (Monday through Friday), except international holidays.
What is FOREX trading?
FOREX trading is all about buying and selling different currencies for a profit. FOREX trading was started by large institutions with professional traders. Nowadays, with the advent of personal computing and a range of online brokers from which to choose, retail FOREX trading has taken off in a big way.
What costs and commissions are associated with FOREX trading?
To understand FOREX, you first need to get to grips with the spread, which represents the difference between the buying price and the selling price. You may also have to pay a commission on each trade, which is another way for FOREX traders to make money.
How important is good customer service in FOREX trading?
As high market availability is key to FOREX trading, you must pick a brokerage firm that is able to provide good customer support around the clock. Company representatives must be easy to reach, well-trained and knowledgeable enough to be of use in times of difficulty.
Is FOREX trading taxable in France?
In short, yes, FOREX trading is taxable in France. However, it is difficult to gain definitive guidance on how French authorities deal with taxation of FOREX trading earnings, which is why we would encourage you at the outset to consult a tax expert. The tax rate for capital gains from securities in France is roughly 36%. FOREX is considered one such security, meaning that traders must be prepared to pay that amount of tax as a guideline.
Written by
Adrian Ashley
Adrian Ashley is a seasoned business and finance writer. With a corporate career spanning over 20years, he has developed deep experience in such diverse areas as investing, business, finance,technology and macroeconomics. He is passionate about captu...
Edited by
Marwan Kardoosh
The Editorial Department at Arincen makes an important contribution to the world-class content that...
Fact Checked by
Bahaa Khateeb
Bahaa Khateeb is currently the CEO of Arincen, a start-up Fintech company based in Haifa. Baha...
May be interesting for you
Carousel
Similar articles
Carousel
To Comment You Must
Are you sure you want to delete your account?
Call us
Contact us and your messages will be answered as soon as possible