TP Market Trades: The Best Forex Broker For Commission Incentives, Diverse Asset Classes, And Islamic Accounts
When picking a forex broker to work with, you must choose the one that suits your needs and has features that give you a competitive edge. This article will focus on why TP Market Trades is one of the top forex brokerage firms for commission incentives, diverse currencies and trading instruments, and Islamic accounts. Moreover, we will compare it to Global Prime, Eighcap, and Trade Nation.
| Broker | Commission incentives | Islamic account | Currencies |
|---|---|---|---|
| TP Market Trades | Yes | Yes | 55 |
| Global Prime | No | No | 56 |
| Eightcap | No | No | 47 |
| Trade Nation | No | No | 36 |
COMMISSION INCENTIVES
Commision incentives is a unique feature for TP Market Trades as it sets it apart from other top forex brokers. Most traders who work with TP Market Trades have expressed genuine wonder that you can use your commissions to get fantastic trading tools and education. Furthermore, it gives you access to a community of traders on Discord, allowing you to share trading ideas and grow.
As you trade with a broker, you pay a certain amount of commission depending on the assets. This commission becomes a trading cost that eats a bit into your profits. However, this is not the case with TP Market Trades.
Here, you can spend a normal expense in the forex industry to buy top trading tools and educational resources. As your commission accumulates, TP Market Trades allows you to get the following:
DIGITAL MAGIC KEYS
Digital Magic Keys
When your commissions accumulate to $30, you gain access to the digital magic keys, an extraordinary treasure in forex trading. Over 42,000 people currently use the tool, which improves risk management and trading precision. This tool has special keys that allow you to:
- Open trading orders with your specific risk parameters. This means you don’t have to waste time calculating lot sizes before you place your entries. Therefore, it significantly reduces any delays while trading.
- Manage your trades automatically. You no longer have to partially close orders manually when they get to break even or targets.
- Set your exits and close entire or partial positions with preset parameters for easy trading.
- Know when you have reached your daily trading limit. This will prevent you from overtrading, which can be detrimental to your account balance.
The digital magic keys have many more features that streamline the trading process and have excited many traders, as seen in the feedback below.
Magic Keys Feedback
MARKET FLUIDITY
Market Fluidity
The next level is for commissions of $500. This accumulation allows you to access top-class forex education that will give you an edge over your competitors. The educational resource focuses on simplifying complex forex concepts and teaching you new ways of viewing and participating in the forex market.
DISCORD COMMUNITY
After gaining access to market fluidity, you also get to be a part of the TP Market Trades Discord group. Here, you will be updated on the forex industry and exchange trading ideas with other traders. Moreover, you will get to work with forex experts one on one.
These commission incentives are unique features not found on Global Prime, Eightcap, or Trade Nation. Here, commissions remain what they are: a cost of trading with no hidden value.
ISLAMIC ACCOUNTS
Finding a broker that offers Islamic accounts is essential for Muslim traders. These are swap-free accounts for clients whose religious beliefs do not allow them to earn or pay interest. TP Market Trades is an inclusive forex broker with Islamic accounts that allows clients from all walks of life to participate in the forex market.
Swap is the difference in interest rates between the two countries that make up a currency pair. This interest is either paid or earned when you keep a position open overnight or longer. The more significant the difference in interest rates, the bigger the swap. Therefore, by removing swaps, TP Market Trades allows Muslim traders to participate in the forex market without violating religious rules.
TP Market Trades Islamic account features
The account has all the features of a standard account with lower spreads and commission incentives. However, Global Prime, Eightcap, and Trade Nation do not offer Islamic accounts. Therefore, Muslim traders would violate their religious rules if they picked these brokers, which lack swap-free accounts.
DIVERSE SELECTION OF CURRENCIES AND TRADING INSTRUMENTS
TP Market Trades asset classes
Another thing that sets TP Market Trades apart is that it is one of the best forex brokers with multiple asset classes. With TP Market Trades, traders can trade currencies, cryptocurrencies, stocks, indices, metals and commodities. Moreover, the distribution of instruments in each class is excellent.
The main instruments for forex traders are currencies, and TP Market Trades offers 55 pairs, more than most forex brokers provide. A wide range of trading instruments is essential for the following reasons.
DIVERSIFICATION
You can diversify your portfolio with so many trading instruments for better results. This allows you to spread the risk and not put all your eggs in one basket. Naturally, there are periods when some instruments perform better than others in terms of volatility and trends. In a diversified portfolio, high-performing instruments will balance the low-performing ones.
RISK MANAGEMENT
With a wide selection of instruments, you can pick those that best fit your risk tolerance. This allows you to choose based on volatility. However, if you have few instruments, focusing on a specific number that fits your strategy becomes harder.
Although Global Prime provides one more currency than TP Market Trades (56 compared to 55), it does not offer stocks. Moreover, although it has a relatively broad asset class, most classes have few instruments. For instance, it only provides three bonds. Additionally, it offers 140 instruments, much lower than the 200 plus on TP Market Trades.
Meanwhile, Eightcap offers a smaller number of currency pairs than TP Market Trades. While Eightcap gives you 47 currencies, you can get 55 on TP Market Trades. This difference can add diversity to your trading portfolio.
Finally, Trade Nation offers 36 currency pairs compared to TP Market Trades' 55. Moreover, it provides fewer cryptos, 9, compared to 35 on TP Market Trades. It is only better with stocks.
There are many reasons why TP Market Trades stands out in the forex industry. If you are looking for commission incentives, Islamic accounts, and a wide selection of instruments, Join TP Market Trades today.