22 Best Forex Brokers with Negative Balance Protection – ( Reviewed ) 2020

Negative Balance Protection

 

Negative balance protection is a precautionary measure taken by brokerage firms to safeguard their customers and it serves the purpose of ensuring that a trader does not lose more money than that deposited in the event of the traders account running into a negative during a trading activity.

 

XM.com Review in south africa
 

 

XM Group

 

XM Group provides traders with a large selection of assets to choose from and is regulated by some of the most respected financial bodies in the sector.

 

Pros and Cons

 

Pros Cons
Offers traders 57 currency pairs and CFD trading in commodities, indices, metals, energies, and cryptocurrencies. Not available to US customers due to regulatory constraints
Major trading platforms MT4 and MT5 are offered to all traders. Metatrader trading platforms only
Regulated by the world’s most respected regulatory bodies.
An accomplished and well-rounded package -the best broker for new traders.

 

XM Group is owned by Trading Point Financial Instruments Ltd and was established in 2009 and the company is an international brand, with headquarters in Sydney, London, and Belize.

 

XM Markets and Products

 

Instrument Number
Currency Pairs 57
Equity Indices 30
Stocks 1,184
Precious Metals 4
Commodities 8
Energies 5
Shares 100

 

The XM Group offers traders three specific account types to choose from including –

 

Live trading accounts

 

  • For traders within the EU, the XM Group Micro Account and the XM Group Standard Account both feature an unbeatable minimum deposit of $5.
  • The XM Group Zero Account is also offered to traders within the EU and carries a minimum deposit requirement of $100 and spreads start from 0 Pips.
  • Australia-based traders can benefit from the XM Ultra-Low Account with a minimum deposit of $50, this account type offers spreads starting from 0.6 Pips.
  • Traders located outside Australia and the EU, can take advantage of the XM Group Shares Account. This account is only available in US dollars and focuses on trading share CFDs.

 

Demo accounts:  XM Group offers traders forex demo accounts with starting balances of $100,000 with the opportunity to practice using each of the account types listed above.

Islamic accounts:  Clients who follow the Muslim faith can also open Islamic accounts with XM Group.

Support services are available via telephone, email, and live chat, and these are available 24 hours a day, from Monday to Friday.

 

A review on OctaFX
 

OctaFX

 

OctaFX operates as an STP (straight through processing), and ECN (Electronic Communication Network) Forex broker and offers traders two trading platforms to choose from.  Both platforms can be used on a desktop, laptop and mobile device.

 

All the normal payment channels are supported by OctaFX, including bank wire transfers, Skrill, major debit and credit cards, as well as UnionPay and the broker boasts several benefits like convenience and reliability, and with every transaction, traders will receive a free 50% bonus.

 

A review of IC Markets
 

IC Markets

 

IC Markets was founded in Sydney, Australia in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the Seychelles Financial Services Authority (FSA).   IC Markets offers services and features suitable for both beginner and professional traders, a ‘go to’ choice for high volume traders, scalpers and trading algos.

 

Pros and Cons

 

Pros Cons
True ECN broker with institutional grade liquidity. Beginner traders may be overwhelmed by the choice of markets and platforms.
MetaTrader and cTrader available on desktop, web and mobile.
Wide range of tradable products with 24/7 customer support.
Impressive library of educational material and videos.

 

A review about IQ Option
 

IQ Option

 

IQ Option was founded in 2013 and offers two accounts that are designed to be accessible to every trader regardless of their experience level, and trading balance. The standard trading account can be opened by depositing a minimum of $10 and offers all the trading tools a trader would need, and is a perfect choice for beginners.

 

The VIP account is similar in many ways to the standard account but requires a minimum deposit of $1900, or a total trading volume of $1500.

 

A review about CityIndex
 

City Index

 

City Index is an online broker which was founded in 1983 and offers Forex, CFDs and Spread Betting trading and traders can trade in over 12,500 instruments and over 100 currency pairs on the popular MT4 forex trading platform.  City Index also offer mobile apps for Android and iOS.

 

City Index is a global broker and has a head office situated in the UK and new traders will need to make a minimum deposit of $25 to make a start.

 

City Index Trading benefits:

 

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

City Index Trading Accounts on Offer include:

 

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • STP account
  • Managed account

 

City Index support a wide range of languages including English, Spanish, German, Arabic, Polish, and Chinese and has a triple AAA grade support rating.

 

A review of FxPro
 

FXPro

 

FXPro is an online broker founded which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies tradingFXPro is a global broker and has a head office located in the UK.

 

FXPro provide traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100.

 

What can be traded with FXPro?

 

  • Over 250 instruments
  • Over 70 currency pairs

 

FXPro is one of the few brokers in the market who offers both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform and mobile apps for Android and iOS.

 

FXPro Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

 

With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument and the broker offers support in a very wide range of languages including Arabic, Chinese, English, French, German, Hungarian, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese.

 

A review of AvaTrade
 

AvaTrade

 

AvaTrade is an online broker founded in 2006 offering Forex trading, CFDs trading, Spread Betting trading, and Social Trading.

 

Benefits of trading with AvaTrade:

 

  • Regulated by: Central Bank of Ireland, Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Financial Stability Board (FSB), British Virgin Islands Financial Services Commission (BVI)
  • Headquarters:The British Virgin Islands
  • Foundation year:2006
  • Min Deposit:250
  • Used: by over 200,000 traders

 

HotForex Review in south africa
 

HotForex

 

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.

 

The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

 

Hotforex’s Metatrader offers a fast order execution, news feed, multiple order types, support for EAs.

 

Key features include:

 

  • Supports: MT4, MT5 for desktop, web & mobile
  • Minimum deposit: $5
  • Leverage: 1:1000

 

Trading Instruments: Forex, Cryptocurrencies, CFDs on Stock Indices, Commodities, metals

 

A review about eToro
 

eToro

 

eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK.  eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert.

 

eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.

 

Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.

 

eToro trading accounts on offer include:  Demo, Micro, Mini, Standard, STP and Islamic.  eToro supports a wide range of languages including English, German, Spanish, French, and Italian.

 

A review on Plus500
 

Plus500

 

Plus500 are a global online broker which was founded in 2008 and offers traders CFDs trading.  When starting with Plus500 traders will need to make a minimum deposit of $100 with an option available to sign up for a demo account.  Traders have an option to trade in over 2,000 instruments and over 100 currency pairs on a user-friendly custom trading platform which is also available as a browser-based web application.

 

Plus500 are trading specialists with their own forex trading platform offering:

 

  • A free unlimited demo account
  • A number of trading options
  • Web trading, Mobile trading and a desktop trading platform

 

Plus500 offers the best range of Cryptocurrency trading with instruments including Bitcoin, Ethereum, Litecoin, NEO, Ripple XRP, IOTA, Stellar, EOS, Cardano, Tron and Monero. With Plus500, the minimum and maximum trade requirements will vary and is dependent on the trader and the instrument.  Plus500 supports a wide range of languages including English, French, Italian, Spanish, Portuguese, German, Dutch, and more.

 

A review about FXPRIMUS
 

FXPrimus

 

FXPrimus is an online broker founded in 2009 offering Forex trading, and Social Trading,

and is global broker with a head office in Cyprus.

 

  • Regulated by: Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID)
  • Used by over 10,000 traders
  • FXPrimus is not available in the following countries: AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC.

 

FXPrimus has won numerous industry awards over the 11 years a wide variety of instruments and trading currency pairs.

 

A review of Exness
 

Exness

 

The Exness Group was founded in 2008, and offers traders access to more than 120 financial instruments to trade across.  Trading platforms available from Exness includes MetaTrader 4MetaTrader 5, mobile trading platforms and the MT4 WebTerminal.

 

Pros and Cons

 

Pros Cons
Segregates client funds Limited range of instruments
Established in 2008 Not FCA Regulated
Min. deposit from $1

 

Exness offers over 105 different instruments to trade, including over 103 currency pairs.

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account Payoneer
Low min deposit ECN account Neteller
Islamic account

 

Exness support a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish.

 

A review about Pepperstone
 

Pepperstone

 

Pepperstone is a global online broker which was founded in 2010 and offers Forex, CFDs and Social Trading.   Pepperstone is regulated and supervised by reputable organisations with a head office based in Australia.

 

With Pepperstone new traders will need a minimum deposit of $200 to open an account and the option is available to sign up for a demo account to familiarize themselves with the Pepperstone platform.  Pepperstone can accommodate various levels of traders whether a trader is experienced or just starting off in the trade.  Traders have the option to trade in over 100 instruments and over 70 currency pairs.

 

Pepperstone is one of the few brokers available that offer traders both of the MetaTrader platforms; MT4 and MT5 coupled with cTrader. Pepperstone also offer traders mobile apps for Android and iOS for the complete package.

 

Pepperstone benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

 

Pepperstone allows traders to execute a minimum trade of 0.01 Lot and supports a wide range of languages including English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic.

 

A review about Forex.com
 

Forex.com

 

Forex.com is an online broker which was founded in 1999 and offers Forex, Indices, Commodities, Equities and Cryptocurrencies trading with a minimum deposit of $500 needed to make a start.

 

Traders can trade in:

 

  • Over 4500 instruments
  • Over 80 currency pairs

 

Forex.com Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

Forex.com Trading Accounts on offer include:

 

  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • STP account
  • Islamic account

 

With Forex.com, the minimum and maximum trade requirements vary depending on the trader and the instrument and all accounts support a wide range of languages including English, Chinese, Arabic to name but a few.

 

A review on OctaFX
 

OctaFX

 

OctaFX is a global online broker which was founded in 2011 and offers Forex trading and for those who are looking to make a start, a minimum deposit of $5. A demo account is also on offer for those wishing to acquaint themselves with OctaFX – both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform is on offer.  OctaFX also offer mobile apps for Android and iOS.

 

OctaFX are able to accommodate various levels of traders and has won numerous industry awards over the past 9 years. OctaFX doesn’t charge commission on CFD instruments.

 

OctaFX Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

OctaFX Trading Accounts on Offer include demo, Micro, Mini, Standard, zero spread, STP and Islamic and is regulated by Financial Conduct Authority (FCA).

 

A review of XTB
 

XTB

 

XTB is an online broker which was founded in 2002 and offers Forex, CFDs, and Cryptocurrency trading.  XTB is a global broker with their head office situated in Poland.

 

XTB have won numerous industry awards over the 18 years that they have been operating as a financial broker and traders can choose to trade in a wide variety of instruments over 1,500 instruments and over 50 currency pairs in fact.  XTB offer traders the popular MT4 forex trading platform alongside the award-winning Xstation5.

 

XTB also offers traders mobile apps for Android and iOS and customer support in a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish.

 

A review about CityIndex
 

City Index

 

City Index is an online broker which was founded in 1983 and offers Forex, CFDs and Spread Betting trading and traders can trade in over 12,500 instruments and over 100 currency pairs on the popular MT4 forex trading platform.  City Index also offer mobile apps for Android and iOS.

 

City Index is a global broker and has a head office situated in the UK and new traders will need to make a minimum deposit of $25 to make a start.

 

City Index Trading benefits:

 

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

City Index Trading Accounts on Offer include:

 

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • STP account
  • Managed account

 

City Index support a wide range of languages including English, Spanish, German, Arabic, Polish, and Chinese and has a triple AAA grade support rating.

 

A review about Trading 212
 

Trading 212

 

Trading 212 is a global online broker which was founded in 2006 and offers trading in Stocks, Forex, Commodities and Indices trading.  With Trading 212 new traders will need a minimum deposit of $1 to start and they have the option to sign up for a demo account.

 

Trading 212 accommodates traders on various levels, whether it be experienced or novice.  Trading 212 is regulated and supervised by reputable organisations and have won numerous industry awards over the past 14 years that they have been in operation.

 

Trader can trade in over 3000 instruments and over 177 currency pairs.  Trading 212 offer traders a user-friendly custom trading platform which is also available as a browser-based web application alongside mobile apps for Android and iOS.

 

Trading 212 benefits include:

 

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

Trading 212 also offers traders a good selection of educational resources and offers customer support in a wide range of languages.

 

A review about easyMarkets
 

EasyMarkets

 

EasyMarkets is a global, online broker which was founded in 2001 and offers traders Forex and CFDs trading.  EasyMarkets offer traders the popular MT4 forex trading platform coupled with mobile apps for Android and iOS respectively.

 

EasyMarkets Trading benefits:

 

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

EasyMarkets Trading Accounts on Offer include Demo, Micro, Mini, Standard and Islamic but a demo account is also on offer and the minimum and maximum trade requirements will vary depending on the trader and the instrument.

 

EasyMarkets also offers supports a wide range of languages including English, German, Arabic, Chinese, Spanish and Polish.

 

A review about Admiral l Markets Review
 

Admiral Markets

 

Admiral Markets is an online broker which was founded in 2001 and offers Forex and CFDs trading, is globally recognized and has a head office based in the UK.  Traders will need a minimum deposit of $200 to start and can sign up for a demo account to in over 148 instruments and over 40 currency pairs.

 

Admiral Markets offers both of the MetaTrader platforms; MT4 and MT5 and mobile apps for Android and iOS.

 

Admiral Markets Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

 

Admiral Markets Trading Accounts Offered:

 

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • STP account

 

Admiral Markets offers support in a wide range of languages including English, Spanish, Hungarian and much, much more!

 

A review about Tickmill
 

Tickmill

 

Tickmill has a 100% NDD forex platform, meaning that there is no conflict of interest with their clients. Tickmills’ MT4 has full support for EA’s, multiple charts, news, limit orders & much more.

 

Tickmills’ MT4 is supported on Windows, Mac, Android, iOS, as well as webtrader and the platform has 62 currency pairs.

 

Key Features include:

 

  • Supports: Metatrader for desktop, web & mobile
  • Minimum deposit: $100 (~₦36,000)
  • Leverage: 1:500
  • Trading Instruments: Forex, CFDs on Stock Indices, precious metals

 

In Conclusion

 

Forex trading is a very lucrative enterprise but it is also very unpredictable. The first decision a trader needs to make in this sector is to get negative balance protection and choose a brokerage firm which offers this form of protection. With this, success is nearly guaranteed.

 

Frequently Asked Questions

 

What is negative balance protection?

A precautionary measure that brokerage firms take to safeguard their traders.

Which brokers have negative balance protection?

Here is a list of the 22 Best forex brokers with negative balance protection.

What is the purpose of negative balance protection?

If a traders account run into a negative during trading activity, a negative balance protection ensures that the trader does not lose more money than deposited.

What happens when your forex account goes negative?

You will have to cover the loss (the minimum balance) by making deposits later.

Why is forex dangerous?

The risk in the forex market is linked to everything than can impact on the price of the currency pairs you are trading in. If the markets go against you, you lose money.

 

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