Working with stock exchanges has been considered a good startup for several years. Therefore, new brokers are appearing in different countries, providing their services in the Forex-markets. The Seychelles is no exception. Hundreds of trading-offers can be found here.
Such an abundance can confuse even experienced traders. Beginners can fall into the trap of swindlers and begin to cooperate with the companies, which will apply hidden fees and many other unnecessary payments. To avoid such situations, potential players should study in advance which brokers are reliable and with whom it is best to cooperate.
This process is very time-consuming. It is necessary to review all documents, analyze the market, and review each broker. This is the only way to find out if there are hidden commissions and other things which are difficult to pay attention to at once. But there is an easier way. You can simply study the basic parameters and look through the rating of the best forex-brokers in the Seychelles, which now offer their courtesies in the market.
Criteria for choosing forex-brokers
Without a thorough analysis of the performance of each forex exchange, it will be extremely difficult to determine reliable partners for your future trades. Most rankings evaluate hundreds of criteria, but the main parameters include:
- availability of trading authorization from the local regulator;
- commission charges (spreads, withdrawal rates, and other fees);
- the requirements to deposit money into your account;
- ease of opening an account;
- ease of use of the platform (availability of forecast charts, functions, whether they are conveniently located, and if they are easy to use).
Such parameters help to understand at once, whether the user should work with the chosen broker or it is better to search for more worthy offers on the market.
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Top-brokers in Seychelles
There are quite a few forex-brokers available to work on the Seychelles market. Experienced traders this year allocate the following corporations for cooperation
- Fusion Markets;
- Capital.com;
- IC Markets;
- Tlckmill;
- CMC Markets.
Each of these organizations has its specifics and users need to understand them before they sign up for an exchange and start working through these brokers.
Fusion Markets
There is a wide range of currencies unrestricted for dealings, no minimum warranty requirements and the commission is one of the lowest on the market (a mere $2.25 per lot). The spreads on the platform are among the lowest (from 0 to 0.2). There are no non-trading fees such as fees for accounts or the long absence of trades by the user.
Because of these indicators, more than 33 thousand users trade at this broker’s website and their number is only growing every day.
Capital.com
Another very worthy broker for cooperation. Operations can be conducted in 138 types of currency pairs. There is no withdrawal commission for this broker, but there is a minimum deposit requirement ($20). It is possible to perform financial transactions via bank cards, transfers, electronic wallets Apple Pay, and PayPal.
In comparison with the previous option, the spread is much higher (0.6-1.3). The broker is in second place by the number of clients and their functions. The total number of regular users is almost 29 thousand people. There are no non-trading fees. Also, a lot of transactions are made through its mobile app.
IC Markets
Not a bad option to work with, but its parameters are mostly lower than the previous two brokers. In total, dealing in 61-currency pairs is available. Transactions can be made to many large electronic wallets, as well as bank-cards (like credit variations) and bank-transfers.
The main disadvantage is the high threshold for the minimum deposit ($200). However, most transactions are conducted at low spreads (no more than 0.2). Today almost 22 thousand users cooperate with this broker. Indirect charges are also absent.
Tlckmill
In comparison with the previous broker, the minimum deposit amount is 2 times lower and is $100. It is possible to deposit and withdraw the earned money to several popular e-wallets, bank cards, or wire-transfers.
In total, trading is carried out in 62 currency pairs. Spreads are slightly higher than the market average and reach 0.7. Over 15 thousand users work with the broker. Like other top brokers, there are no indirect fees.
CMC Markets
The main advantage of this broker is considered by many to be the absence of a minimum deposit and one of the best applications on the Seychelles market. Also, this broker offers the largest number of currency pairs for trading (338). So for those who like to actively trade in different currency pairs, this is a great broker option.
But the total audience of the broker does not reach even 10 thousand users. It is connected with many factors. First of all, it is a small number of ways for financial transactions (only bank options and a few e-wallets). The players also highlight high spreads (one of the highest on the market) and the presence of indirect fees for a long absence of transactions.
Conclusions
Not all well-known forex brokers in the Seychelles market are presented in this top. But all these brokers are reliable structures, with a positive reputation. That’s why their sites have a large number of players and a wide range of currency-pairs for dealing.
Beginner-traders just need to choose their options for operations and start earning with these brokers. If you are confident in the honesty and transparency of other sites, you can use them. But we would recommend you check out the top brokers from our rating for your first steps in this field.