10 Best Nasdaq 100 Forex Brokers 2024

Premier Nasdaq 100 forex broker 2024

IG is a leading global forex broker that provides access to over 18,000 trading instruments. Established in 1974 as the worlds first financial spread betting firm, IG now offers a full suite of products including CFDs, spread betting, and share investing.

The broker is known for its high-quality trading platform and educational materials. They offer a vast array of global assets, including forex pairs, indices, commodities, shares, cryptocurrencies, and more.

IG is regulated by several top-tier authorities such as the UKs Financial Conduct Authority (FCA), and the Australian Securities and Investment Commission (ASIC). Additionally, IG offers a free demo account where new traders can practice trading risk-free, making it suitable for beginners as well as experienced traders.

Overall Rating		⭐⭐⭐⭐⭐
Min. Deposit		0
Regulators		ASIC, FCA, FSA, NFA, AMF, FMA, MAS, DFSA
Trading Instruments		18,000+, forex, indices, cryptocurrencies, shares, commodities, ETFs, options, interest rates, bonds
Demo Account		Yes ($20,000 in virtual capital)
Max. Leverage		1:200
Trading Platforms		Online trading platform, Mobile trading app, Progressive web app, ProRealTime, MT4, L2Dealer
Fees	Stock Fee	2 cents per US shares, and 0.18% on Hong Kong shares
	Deposit Fee	Visa (1%), MasterCard (0.5%)
	Withdrawal Fee	Yes, vary on the method
	Inactivity Fee	Yes
Bonus		Refer a friend bonus
Customer Support		24h/day, except from 6 am to 4 pm on Saturday (UTC+8)-live chat, phone, email
Regional Restrictions		US clients are not allowed.

Pros

Regulation: IG is regulated by multiple top-tier authorities such as the FCA and ASIC, which ensures a high level of security for their users.

Wide Range of Markets: IG offers 18,000+ instruments to trade in, including forex, commodities, indices, shares and more.

Advanced Trading Platforms: IG's platforms are user-friendly and equipped with sophisticated tools and features suitable for all types of traders.

Educational Resources: IG provides a wealth of educational resources that are helpful for beginners. These include articles, webinars, courses etc.

Demo Account: IG offers a demo account where traders can practice risk-free trading.

Minimum Deposit: IG has no minimum deposit requirement.

Cons

Fees: IG charges deposit fees, and withdrawal fees are not transparent.

Inactivity Fee: If your account remains inactive for a certain period of time, IG charges an inactivity fee.

Withdrawal Fee: Depending on the method of withdrawal, a fee may be applied.

Noted for discounted NASDAQ trading, low fees, and high-interest returns

Interactive Brokers (IB) is a long-standing and well-respected brokerage firm operating globally. Founded in 1978, Interactive Brokers is widely recognized for its advanced technological platform, broad access to international markets, and low-cost pricing models.

Interactive Brokers provides services to individual traders and investors, advisors, and brokers in over 200 countries. Offering a vast range of securities such as stocks, options, futures, forex, bonds, and funds, it enables traders to diversify their portfolios.

The company is known for its Trader WorkStation (TWS), a sophisticated trading platform that offers a wealth of tools and features for research, analysis, and trade execution. Additionally, they offer a mobile app and a web-based platform for more casual investors.

Interactive Brokers is regulated by several financial institutions worldwide, such as the UKs Financial Conduct Authority (FCA), and the Australian Securities and Investment Commission (ASIC).

However, this brokerage is geared more towards experienced traders due to its complex platform and tiered pricing structure.

Overall Rating		⭐⭐⭐⭐⭐
Min. Deposit		$0
Regulators		ASIC, FCA, FSA, SFC
Trading Instruments		150 markets - stocks, options, futures, currencies, bonds and funds
Demo Account		Yes
Max. Leverage		1:400
Trading Platforms		IBKR Trader Workstation (TWS), IBKR Desktop, IBKR Mobile, IBKR GlobalTrader, IBKR Client Portal, IBKR API, IBKR IMPACT
Fees	Stock Fee	Vary on the symbol and region
	Deposit Fee	The first deposit of each month is free (Mexico Only)
	Withdrawal Fee	one free withdrawal request per calendar month
	Inactivity Fee	$0 for most account types
Bonus		Open a Stocks and Shares ISA before January 31, 2024, and get £55 in commission credit
Customer Support		24/7 live chat, phone, email
Regional Restrictions		N/A

Pros

Wide Range of Products: Interactive Brokers offers a broad range of products including stocks, options, futures, forex, bonds, and funds.

Global Market Access: Interactive Brokers gives investors access to trade on over 150 markets in 33 countries.

Low Commissions: IB is known for its low trading costs and competitive commission structure.

Advanced Trading Platform: Their flagship platform, Trader WorkStation (TWS), is widely acclaimed for its robust capabilities.

Strong Regulation: Interactive Brokers is regulated by several top-tier financial authorities globally.

Cons 

Complex Platform: The TWS platform has a steep learning curve, which might be overwhelming for beginner traders.

Inactivity Fees: In some cases, Interactive Brokers charges a monthly inactivity fee, though this doesnt apply to all accounts.

Customer Service: Some users report they had to wait a long time to get customer service help.

Account Minimum: There is a high minimum deposit requirement for some types of accounts.

Complex Pricing Structure: Their tiered pricing structure can be complex to understand and calculate.

Great for both beginner traders and experienced investors

RoboForex is an international broker that has been operating since 2009 and offers over 9,400 trading instruments. It provides services for trading in forex, stocks, indices, ETFs, commodities, and cryptocurrencies.

RoboForex is recognized for its focus on providing advanced technological solutions, offering platforms such as MetaTrader 4, MetaTrader 5, MobileTrader, StocksTrader, and WebTrader, which comes with a strategy builder for algorithmic trading.

One of its appealing features is the offering of several account types, each with different advantages, like ECN accounts for low spreads, Pro-Standard accounts for everyday trading, and Prime accounts for advanced trading conditions.

RoboForex is regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC), and others.

Overall Rating		⭐⭐⭐⭐⭐
Min. Deposit		$10
Regulators		CySEC, NBRB, FFSC
Trading Instruments		8 asset classes - Forex, Stocks, Indices, CFDs on Futures, Energies, Commodities, Cryptocurrencies, ETFS
Demo Account		Yes
Max. Leverage		1:2000
Trading Platforms		MT4, MT5, MobileTrader, StocksTrader, WebTrader
Fees	Stock Fee	Vary on the symbol and region
	Deposit Fee	Free
	Withdrawal Fee	Compensates clients' commission for funds withdrawal twice a month
	Inactivity Fee	N/A
Bonus		Yes
Customer Support		24/7 live chat, phone, email
Regional Restrictions		They don't work in the territory of the USA, Canada, Japan, Australia, Bonaire, Brazil, Curaçao, East Timor, Indonesia, Iran, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, and other restricted countries.

Pros 

Multiple Trading Platforms: RoboForex provides several trading platforms, including MetaTrader 4, MetaTrader 5, MobileTrader, StocksTrader, and WebTrader. This provides flexibility for traders as they can choose a platform that suits their trading style.

Variety of Account Types: It offers a range of account types, each designed to meet the specific needs of different types of traders.

Wide Range of Financial Instruments: It allows trading in a wide diversity of assets, including forex, stocks, indices, ETFs, commodities, and cryptocurrencies.

Regulated: RoboForex is regulated by IFSC, CySEC, and NBRB, providing a certain level of security and trust.

Cons

Complex Fee Structure: Some users may find their fee structure somewhat complex especially concerning overnight swap rates.

Customer Support: Although they offer 24/7 support, some users have reported occasional delays and lack of support responsiveness.

Limited Educational Resources: Compared to other brokers, RoboForex's educational resources for beginner traders might seem limited.

Recognized as the CFD broker with lower CFD fees

AvaTrade is a well-regarded online broker that was established in 2006. The broker offers trading in a variety of instruments, including Forex, commodities, indicies, stocks, cryptocurrencies, and more.

This internationally recognized broker is regulated in multiple jurisdictions, offering services in over 150 countries worldwide. They operate under oversight from top-tier regulators such as the Central Bank of Ireland (CBI), the Australian Securities and Investments Commission (ASIC), and others.

AvaTrade is known for its range of trading platforms, offering both the popular MetaTrader 4 and MetaTrader 5 platforms, as well as their own proprietary platform, AvaTradeGO. They also cater to automated trading systems, including ZuluTrade and DupliTrade.

The broker provides educational resources suitable for beginner and veteran traders alike, which includes video tutorials, eBooks, and webinars.

Overall Rating		⭐⭐⭐⭐⭐
Min. Deposit		$100
Regulators		ASIC, FSA, FFAJ, CBI, FSCA
Trading Instruments		1250+, forex, stock index, stock, commodities, ETFs
Demo Account		Yes ($10,000 in virtual capital, lasts for 21 days and can be renewed upon request)
Max. Leverage		1:30 (retail)/1:400 (professional)
Trading Platforms		MT4, MT5, WebTrader, AvaTrade Go
Fees	Stock Fee	Free stock contracts
	Deposit Fee	Free
	Withdrawal Fee	Free
	Inactivity Fee	Yes
Bonus		Up to $2,100
Customer Support		Mon - Fri 8:00 - 23:00 live chat, phone, email
Regional Restrictions		N/A

Pros 

Robust Regulation: AvaTrade is overseen by several high-profile financial authorities, including the CBI and ASIC, which provides increased safety for clients' funds.

Wide array of trading platforms: They offer a variety of trading platforms such as MetaTrader 4, MetaTrader 5, and their own platform, AvaTradeGO. Their platforms also support automated trading systems like ZuluTrade and DupliTrade.

Variety of Financial Instruments: AvaTrade offers a diverse range of instruments to trade including forex, commodities, indices, stocks, and cryptocurrencies.

Educational Resources: They provide comprehensive educational content including video tutorials, eBooks, and webinars, which is beneficial for both beginner and experienced traders.

Cons 

High Inactivity Fee: AvaTrade charges a relatively high inactivity fee compared to other brokers.

Withdrawal Processing Time: Some users have reported that the withdrawal process can be slow and could take up to 10 business days in some cases.

Limited Analysis Tools: Despite offering a good range of platforms, AvaTrade's analytical tools are quite basic compared to other brokers.

Customer Support: While AvaTrade offers 24/5 customer support, some users have reported that the response times and the quality of support could be improved.

Low-spread CFD platform, trusted for Nasdaq 100 trading

XM is a well-established online broker that provides clients with trading in several financial instruments. Founded in 2009, XM provides services in forex trading, as well as trading in commodities, equity indices, precious metals, and energies.

The broker is known for its client-friendly policies, such as providing negative balance protection and allowing automated trading strategies. XM offers multiple trading platforms, including the industry-standard MetaTrader 4 and MetaTrader 5, both available on web and mobile devices.

XM Group is a group of regulated online brokers regulated by several bodies worldwide: Trading Point of Financial Instruments Ltd is established in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC), Trading Point of Financial Instruments Pty Ltd is established in Australia and is regulated by the Australian Securities and Investments Commission (ASIC) and others.

Overall Rating		⭐⭐⭐⭐⭐
Min. Deposit		$5
Regulators		ASIC, CySEC, FSC, DFSA
Trading Instruments		1000+, forex, CFDs on indices, commodities, stocks, metals and energies
Demo Account		Yes
Max. Leverage		1:1000
Trading Platforms		MT4, MT5, XM WebTrader
Fees	Stock Fee	US shares: $0.04 per share, min $1 per transaction
		UK shares: 0.10% per transaction, min $9 per transaction
		German shares: 0.10% per transaction, min $5 per transaction
	Deposit Fee	N/A
	Withdrawal Fee	N/A
	Inactivity Fee	Yes
Bonus		Up to $2,000
Customer Support		24/7 live chat, phone, email
Regional Restrictions		XM Gdoes not provide services for the residents of the United States of America, Canada, Israel and the Islamic Republic of Iran.

Pros

Regulation: XM is regulated by a number of top-tier financial authorities, including ASIC, CySEC, and others, ensuring the protection of clients' funds.

MetaTrader Platform: XM supports the MetaTrader 4 and MetaTrader 5 platforms, both of which are available on web and mobile devices.

Negative Balance Protection: XM provides negative balance protection to its clients, which helps traders from losing more money than they have deposited.

No Hidden Fees: XM has a policy of no hidden fees or commissions, and it maintains a fair and transparent pricing policy.

Cons 

Inactivity Fee: XM charges an inactivity fee if an account has been dormant for over 90 days.

Customer Service: Some users have reported delays in responses from XM's customer service.

Renowned for facilitating automated NASDAQ trading on MT4

Pepperstone is an online forex and CFD broker that was established in 2010. It offers a wide range of assets to trade, including forex pairs, commodities, indices, crypto currencies, shares and more.

Pepperstone is known for its competitive spreads, speedy execution, and personalised customer support. They also offer a variety of trading platforms, such as MetaTrader 4, MetaTrader 5 and cTrader, catering to the needs of different trading styles.

The broker is strictly regulated by several top-tier authorities around the world, including the Australian Securities and Investment Commission (ASIC), the UK's Financial Conduct Authority (FCA), and others.

Pepperstone also provides a range of educational resources such as webinars, guides, and articles that are accessible to both their clients and the public.

Overall Rating		⭐⭐⭐⭐
Min. Deposit		$200
Regulators		ASIC, CySEC, FCA, DFSA, SCB
Trading Instruments		1000+, forex, cryptocurrencies, shares, ETFs, indices, commodities
Demo Account		Yes
Max. Leverage		1:30 (EU retail)/1:500 (Professional)
Trading Platforms		Trading View, MT4, MT5, cTrader
Fees	Stock Fee	US Share and ETF CFDs: $0.02 per share
		UK Share CFDs: 0.1%
		German Share CFDs: 0.1%
		Australia Share CFDs: 0.07%
		Hong Kong Share CFDs: 0.2%, min 45 HKD
	Deposit Fee	Free
	Withdrawal Fee	N/A
	Inactivity Fee	Yes
Bonus		$888
Customer Support		24/5 live chat, phone, email
Regional Restrictions		N/A

Pros 

Effective Regulation: Pepperstone is regulated by several top-tier financial institutions, including ASIC and FCA, which provides a certain level of trust and security.

Competitive Spreads: Generally, Pepperstone offers tight spreads on a range of instruments, which can reduce the cost of trading.

Variety of Trading Platforms: Pepperstone offers MetaTrader 4, MetaTrader 5, and cTrader, accommodating diverse trading styles and preferences.

Excellent Customer Support: They are known for providing high-quality, reactive customer service.

Educational Content: Pepperstone provides webinars, guides, and articles that are useful for learning more about trading and markets.

Cons

Inactivity Fee: Pepperstone charges an inactivity fee to accounts that remain inactive for a certain period of time.

Limited Options for Fundamental Analysis: Those who use fundamental analysis for trading may find Pepperstone's offerings somewhat limited compared to other brokers.

Few Deposit and Withdrawal Options: Compared to some other brokers, Pepperstone offers fewer options for depositing and withdrawing funds.

Known for advanced research tools and NASDAQ CFD trading

CMC Markets is a UK-based financial dealer that offers trading services in shares, commodities, treasury, currency pairs, and indices. Established in 1989, they are one of the longest-standing brokers and are widely regarded as a reputable provider.

Their offering includes a proprietary trading platform, Next Generation, which has been recognized for its superior trading tools, charts, and outstanding user experience. The firm also offers access to MetaTrader 4 trading platform. Both are available for trading on desktop and mobile devices, allowing clients to trade anytime, anywhere.

CMC Markets covers over 10,000 market products across several asset classes, including Forex, commodities, indices, and more. They cater to a wide range of traders, from beginners to experienced.

They also offer market analyses and educational materials to their clients. These resources provide essential trading knowledge for rookies, as well as advanced information for seasoned traders to deepen their understanding.

CMC Markets is regulated by top financial bodies, such as the Financial Conduct Authority (FCA) in the UK, the Monetary Authority of Singapore (MAS), and others.

Overall Rating		⭐⭐⭐⭐
Min. Deposit		0
Regulators		FCA, FMA, IIROC, MAS
Trading Instruments		forex pairs, indices, cryptocurrencies, commodities, shares & ETFs, treasuries
Demo Account		Yes
Max. Leverage		1:30
Trading Platforms		MT4
Fees	Stock Fee	US Shares: 2 cents per unit, min. $10
		UK Shares: 0.08%, min £9
		Australia Shares: 0.09%, min A$7
	Deposit & Withdrawal Fee	1% for credit card payments, 0.6% for debit card payments, additional charges for bank transfers from outside Australia
	Inactivity Fee	N/A
Bonus		N/A
Customer Support		7:30 am – 5:30 pm AEDT live chat, 24/6 phone
Regional Restrictions		N/A

Pros 

Regulation: CMC Markets is regulated by several top-tier financial authorities, including the FCA, MAS, and others, offering a great deal of trustworthiness.

Wide Range of Financial Instruments: CMC Markets offers a diverse range of financial instruments with over 10,000 market products across several asset classes.

Advanced Trading Platform: CMC Markets provides a proprietary trading platform called “Next Generation,” known for its superior trading tools and charts, along with the popular MetaTrader 4 platform.

Educational Resources: They offer a variety of educational materials and market analyses that are beneficial for both beginners and experienced traders.

Cons 

Fees and Commissions: Compared to some other brokers, CMC Markets can have higher trading fees and commissions.

Platform Complexity: While their trading platform is robust and feature-rich, it can be slightly overwhelming for less experienced traders.

Minimum Balance: Some account types have a relatively high minimum balance requirement which is not suitable for small investors.

Customer Service: While they offer 7:30 am – 5:30 pm AEDT live chat, 24/6 phone, there have been reports suggesting the quality of customer service could be improved.

Appraised for NASDAQ trading education and commission-free stocks and ETFs

XTB is a leading global forex and contract for difference (CFD) broker that was established in 2002. It offers over 5400 CFD markets in forex pairs, commodities, stock indices, ETFs, and cryptocurrencies, among others.

XTB is well-regarded for its award-winning, proprietary trading platform, xStation 5, which provides traders with a plethora of practical trading tools, advanced charting capabilities, and a user-friendly interface.

XTB has garnered a reputation for transparency and is known for its excellent customer service. Their educational resources, including webinars, courses, and ebooks, make it a suitable platform for both new and experienced traders.

It is regulated in several prominent jurisdictions by top-tier financial authorities such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and others.

Overall Rating		⭐⭐⭐⭐
Min. Deposit		0
Regulators		CySEC, FCA, CNMV
Trading Instruments		5400+, Forex, Commodities, Indices, Shares, ETFs, Stock CFDs, ETF CFDs
Demo Account		Yes
Max. Leverage		1:30
Trading Platforms		xStation 5, xStation Mobile
Fees	Stock Fee	Vary on the symbol and region
	Deposit Fee	Free
	Withdrawal Fee	Withdrawals smaller than $100/€80/£60 or 12000 HUF will be charged a high fee of around $20/€16/£12
	Inactivity Fee	Yes
Bonus		N/A
Customer Support		24/5 live chat, phone, email
Regional Restrictions		N/A

Pros 

Regulation: XTB is regulated by several top-tier financial authorities, like the FCA, CySEC, and CNMV, which ensures a good level of reliability and protection for its clients' funds.

Trading Platform: They offer their proprietary platform xStation 5 which is known for its user-friendly interface and advanced trading tools.

Wide Range of Financial Instruments: Providing over 5400 CFD markets in numerous categories presents an extensive variety for traders.

Outstanding Customer Support and Education: XTB is known for its excellent customer service and provides a good amount of educational resources including webinars, courses, and ebooks. This makes it a good choice for new traders.

Cons 

Withdrawal Fee: There's a hefty fee charged for withdrawals below a certain threshold. This can make it expensive for traders who prefer to withdraw smaller amounts of funds frequently.

Inactivity Fee: If accounts remain dormant for a specific period of time, XTB charges a significant inactivity fee.

No MetaTrader 4/5 Available: Despite offering its own platform, XTB does not offer the MetaTrader4 or MetaTrader5.

Highly regulated and ideal for following others' NASDAQ trading strategies

eToro is a well-established global trading platform that emerged in 2007. It offers a modern approach to investing by providing users a platform where they can follow and copy the trades of experienced investors.

eToro supports a variety of assets ranging from traditional stocks and commodities to cryptocurrencies. They are best known for their social trading platform, allowing investors to interact with each other, share ideas, and benefit from collective wisdom.

Furthermore, eToro offers a wide range of educational resources targeting both new and experienced traders. These resources include webinars, trading courses and a demo account which simulates live trading with virtual money, helping traders familiarize themselves with the process.

The platform is regulated by various top-tier financial authorities including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC).

Overall Rating		⭐⭐⭐⭐
Min. Deposit		$10
Regulators		ASIC, CySEC, FCA
Trading Instruments		3000+, Stocks, Cryptocurrencies, Currencies, Commodities, ETFs
Demo Account		Yes
Max. Leverage		1:30 (retail)/1:400 (professional)
Trading Platforms		MT4, eToro proprietary platform
Fees	Stock Fee	0% commission, not apply to CFD stock positions
	Deposit Fee	Free
	Withdrawal Fee	＄5 withdrawal fee for ＄30 withdrawal amount
	Inactivity Fee	$10 per month for inactivity of 12 months
Bonus		N/A
Customer Support		24/5 live chat, email
Regional Restrictions		N/A

Pros 

Social Trading Platform: eToro offers a unique feature called social trading that allows users to follow and copy trades of other successful traders, which is particularly beneficial for beginners.

Variety of Assets: eToro offers over 3,000 financial instruments to trade including stocks, forex, cryptocurrencies, commodities, and ETFs.

Regulation: eToro is regulated by top financial authorities like the FCA, CySEC, and ASIC, which increases its reliability and the safety of your funds.

User-Friendly Platform: eToro has a simple and intuitive platform design that even beginners can navigate with ease.

Cons 

Withdrawal Fee: eToro charges a flat fee for withdrawals, which can be considered high compared to some other brokers.

Inactivity Fee: If an account is inactive for 12 months, eToro charges an inactivity fee.

Currencies of Accounts: Accounts can only be opened in USD, which means that for some, conversion fees will apply.

High Spread Fees for Certain Assets: While spread fees for some assets such as stocks are competitive, for others they can be quite high compared to other brokers.

Best bet for scalping strategies

IC Markets is an Australian-based online ECN broker that was established in 2007. The broker is well known for providing high-speed order execution and tight spreads on a wide range of instruments, including Forex, indices, commodities, shares, futures, and bonds.

Their trading platforms include MetaTrader 4, MetaTrader 5, and cTrader, which are all available on desktop and mobile devices. IC Markets also provides services for algorithmic traders by providing direct integration with trading software like ZuluTrade and Myfxbook.

One of IC Market's key features is its deep liquidity from over 50 banks and dark pool liquidity sources which results in low latency and a lower likelihood of orders being rejected.

IC Markets is licensed and regulated by the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).

Overall Rating		⭐⭐⭐⭐
Min. Deposit		$200
Regulators		ASIC, CySEC
Trading Instruments		1780+, CFDs on forex, commodities, indices, bonds, digital currencies, stocks and futures
Demo Account		Yes (free for 30 days)
Max. Leverage		1:500
Trading Platforms		MT4, MT5, cTrader
Fees	Stock Fee	Vary on the symbol and region
	Deposit Fee	Free
	Withdrawal Fee	Free
	Inactivity Fee	Yes
Bonus		Refer friends & family - $100
Customer Support		24/7 live chat, phone, email
Regional Restrictions		Residents of the United States, Canada, Israel, New Zealand, Iran, and North Korea (Democratic People's Republic of Korea) are excluded.

Pros

Licensing and Regulation: IC Markets is licensed and regulated by several high-tier financial authorities including ASIC and CySEC, ensuring the security of clients' funds.

Variety of Trading Platforms: IC Markets supports MetaTrader 4, MetaTrader 5, and cTrader platforms. These platforms cater to different trading strategies and are available on both mobile and desktop.

Low Spreads and High-Speed Execution: IC Markets is renowned for its low spreads and high-speed order execution, which can be beneficial for traders who use high-frequency strategies.

Deep Liquidity: Their strong relationships with liquidity providers result in deep liquidity, leading to lesser order rejections.

Cons

No Proprietary Platform: Unlike some brokers, IC Markets does not have a proprietary trading platform which can offer unique tools and functions.

Inactivity Fee: IC Markets charges an account inactivity fee, which can be significant for users who don't trade frequently.

Limited Educational Resources: While they offer access to some educational resources, it might not be comprehensive enough for novice traders.

The full name of Nasdaq is actually the National Association of Securities Dealers Automatic Quotations. The NASDAQ 100 is a stock market index made up of equity securities issued by 100 of the largest non-financial companies listed on the NASDAQ. It's a modified capitalization-weighted index. This means the companies with higher market capitalization have a greater influence on the index's performance.

The composition of the Nasdaq 100 is diverse, representing numerous sectors, including technology, health care, consumer services, and communication services, excluding financial companies. However, it is heavily dominated by the technology sector. Companies like Apple, Microsoft, Amazon, Alphabet (Google), Facebook, and Tesla constitute a substantial chunk of the index due to their high market capitalization.

The exact composition can change from time to time as companies are periodically added or removed based on their market capitalization, trading volume, and other factors. For the latest composition of the Nasdaq 100, you can visit the official Nasdaq website.

According to the data observed from the Nasdaq website, the Nasdaq 100 index (NDX) was reported to have a closing value of 16,898.47. This represents a minor decrease of 0.05% from its previous close. The website also provides detailed information on market activity, news updates, helpful solutions, and more.

Diversity: The Nasdaq 100 consists of companies from a variety of sectors, including technology, healthcare, retail, and more. This diversity provides you with exposure to different industries.

Accessibility: Many brokers offer products that track the Nasdaq 100 index, making it easily accessible.

Volatility: The Nasdaq 100 is known for its volatility, which can provide plenty of trading opportunities. However, this also means increased risk.

Global Influence: Many of the companies listed on the Nasdaq 100 have a strong global presence and influence. For this reason, trading the Nasdaq 100 can provide exposure to global economic trends.

Market Leader Movement: A few market leaders or sectors can cause significant moves in the Nasdaq 100 index – this is especially true for the technology sector. You can take advantage of these moves with informed trading strategies.

Trading the Nasdaq 100 with forex brokers involves several steps as follows:

Step 1: Choosing a Broker

Your first step is to select a reliable forex broker that offers Nasdaq 100 trading. When choosing a broker, consider factors such as transaction fees, trading platform user-friendliness, customer support, and the overall reputation of the broker. You can find more details in the following FAQ: “How to choose Nasdaq 100 forex brokers?”

Step 2: Creating an Account

After choosing a broker, you'll need to create a trading account. This usually involves providing some personal information and depositing a certain amount of funds into the account.

Step 3: Understanding the Platform

Spend some time familiarizing yourself with the trading platform. Learn how to place trades, set stop losses, and take profits. Many brokers offer demo accounts where you can practice trading with virtual money.

Step 4: Analyzing the Market

Before placing a trade, conduct some market analysis. Look at the current market conditions, trend direction, and other factors that can affect the price of the Nasdaq 100. This could involve both technical analysis (studying price charts) and fundamental analysis (looking at economic data and news).

Step 5: Placing a Trade

When you're ready, you can place a trade. Decide whether you want to 'buy' (if you believe the price will rise) or 'sell' (if you believe the price will fall). Set a stop loss (a price level at which the trade will automatically be closed to avoid further losses) and a take profit level (a price at which the trade will close, securing your profits).

Step 6: Monitoring Your Trade

After placing your trade, keep an eye on market changes. You need to adjust your stop loss or take profit levels as the market moves.

Step 7: Closing Your Trade

When you're ready to close your trade, you can do so manually at the current price, or wait for your stop loss or take profit levels to be reached.

Trend Following: This is a strategy where you try to take advantage of a current trend in the Nasdaq 100. If the index is trending upwards, you might decide to buy. If the index is trending downwards, you might decide to sell.

Swing Trading: This involves buying or selling with the expectation that the price will swing in one direction. It typically involves holding a position for several days to several weeks.

Day Trading: This strategy involves opening and closing trades within a single market session. Day traders focus on small price movements and make numerous trades in a day.

Position Trading: This is a long-term trading strategy where traders hold onto their trades for weeks, months, or even years. This strategy is best suited for patient traders who can withstand the ups and downs of the market.

Scalping: This is a short-term trading strategy that involves making a lot of trades throughout the day in order to profit from small price movements.

Technical Analysis: This strategy involves studying chart patterns and indicators to predict future price movements. Some common technical analysis tools include moving averages, support and resistance levels, and momentum indicators.

Fundamental Analysis: This involves analyzing economic indicators, earnings reports, and other economic factors to predict market movements.

Every trading strategy comes with its own risks and benefits. You should choose a trading strategy that aligns with your financial goals, risk tolerance, and trading skills.

Besides, we have recently published a comprehensive and in-depth article titled “Best Forex Trading Strategies in 2024”. With rigorous research and analysis, we have carefully selected and elaborately explained 8 top trading strategies that can significantly optimize your trading performance.

These strategies include Scalping, Position Trading, Trend Trading/Following, Price Action Trading, Range Trading, Swing Trading, Carry Trade and Day Trading. Each strategy is broken down into its key concepts, strengths, suitable market conditions, and more in the article.

Whether you are a beginner in the Forex market looking to understand different strategies, or a seasoned trader aiming to diversify or adapt your existing approaches, our article can serve as a helpful resource.

Regulation: Ensure the broker is regulated by relevant, reputed financial authorities. This guarantees a level of reliability and trust.

On WikiFX, we strive to deliver the most relevant and up-to-date regulatory information about forex brokers. We understand how vital it is to know your broker's regulatory status before investing your hard-earned money. Our team conducts an extensive background check on forex brokers from around the globe to provide you with their regulatory data and other critical aspects.

By using WikiFX, you can easily verify a broker's regulatory status and steer clear of potential frauds or unregulated platforms. Knowledge is power - stay informed, stay safe and always check a broker's regulatory status on WikiFX before investing. It's easy, fast, and can save you from unnecessary losses.

Account Types: Check if the broker offers a demo account for practicing your strategies, and if their account types suit your investment size and trading needs.

Commissions and Spreads: Brokers either charge a commission per trade or operate on a spread basis (difference between the buy and sell price). Consider the potential costs and how they might impact your trading strategy.

Trading Platform: Check the trading platform's ease of use, functionality, and stability. It should also come with robust charting tools and indicators for technical analysis.

Deposits and Withdrawals: Consider the broker's policies about depositing and withdrawing funds, fees involved, and the processing time.

Educational Resources: A broker that provides educational resources - webinars, articles, tutorials - can be beneficial, particularly for new traders.

Customer Service: Good customer service that is available when you need it is crucial, especially for beginners.

Customer Reviews: Look at reviews, ratings, and feedback from existing or past clients.

All the brokers mentioned in this article - IG, Interactive Brokers (IB), RoboForex, AvaTrade, XM, Pepperstone, CMC Markets, XTB, eToro, and IC Markets - offer features suitable for beginners. These features include user-friendly platforms, comprehensive educational resources, demo accounts, and strong customer support, all of which can be valuable for those new to forex trading.