Why TP Market Trades Is The Best Forex Broker For You
When picking a broker, you must consider several factors that make it stand out. This way, you can get the best services and gain a competitive edge over other traders. Many little things make a good broker, including execution speeds and the spreads they offer. Below, we will look at what makes TP Market Trades the best forex broker compared to the selected list of top brokers.
| Broker | Min Deposit | Spreads | Execution | Education | c Trader | Response Time (MS) |
|---|---|---|---|---|---|---|
| TP Market Trades | $50 | 0.10 | Yes | Yes | Yes | 30 |
| Admirals | $100 | 0.79 | Yes | Yes | No | 182 |
| Markets.com | $100 | 0.48 | No | No | No | 141 |
| TMGM | $100 | 0.32 | No | No | No | 129 |
LOW MINIMUM DEPOSIT
When choosing to work with a new broker, the first important thing to check is the minimum deposit amount. TP Market Trades is a forex broker with a low minimum deposit. It offers a minimum deposit amount of $50, allowing both new and experienced traders to gain access to the financial markets with a low starting capital. This is a significant advantage for new traders as it reduces the capital you will risk as you begin your journey. That way, you can learn without risking too much.
On the other hand, experienced traders looking for a new broker to work with can try the real experience with a little sum before committing more money. TP Market Trades offers a relatively low minimum deposit compared to other brokers, with Admirals, Markets.com, and TMGM all offering $100.
LOW SPREADS
A successful forex career requires finding a forex broker with low spreads. That way, you can minimize trading costs and increase your competitive edge. The spread is the difference between the bid and ask prices displayed on your trading platform. The bigger the spread, the more expensive it is to trade an asset. The spread usually changes depending on the market volatility and the time of day. However, there is an average spread that you can use to compare different brokers.
EUR/USD live spread on TP Market Trades
TP Market Trades offers some of the lowest spreads in the industry. Depending on the type of account you get, you can work with spreads starting from 0.0 pips to reduce your costs. TP Market Trades offers raw spreads of as low as 0.1 pips on average.
In the above image, the live spread for EUR/USD is 0.2 pips. Meanwhile, Admirals offers an average spread of 0.79, Markets.com offers an average spread of o.48, and TMGM offers an average spread of 0.32.
A test to compare average pips by compareforexbrokers.com revealed that most brokers have higher average spreads than TP Market Trades.
EXECUTION SPEED
Experienced traders prefer brokers with fast execution speeds as it reduces slippage. Therefore, you can take advantage of trading opportunities in volatile markets and during volatile times.
Moreover, fast execution allows traders to maximize profits and gain an edge over other traders. It also improves risk management because you can exit positions when the market suddenly reverses. TP Market Trades offers some of the fastest execution at 30 milliseconds. The latency is lower than most brokers, as seen in a test done by compareforexbrokers.com.
Average execution speed
In our comparison, Admirals has a slower execution speed of 182 milliseconds. Markets.com is also slower at 141 milliseconds. Finally, TMGM is slower at 129 milliseconds.
DISCORD CHANNEL
TP Market Trades is the only broker that owns a Discord channel. You can become a channel member and take advantage of instant customer support around the clock. Moreover, you can discuss trading ideas and be part of professional discussions that help you sharpen your skills.
TP Market Trades Discord Channel
Other brokers like TMGM, Admiral Markets and Markets.com do not have any Discord channels. So, they route their customers through traditional ways, such as creating tickets to resolve their issues.
TRADING EDUCATION
Another important thing when picking a broker is to look for a forex broker with educational resources like TP Market Trades. Traders get a section for education on the website where you can get quality information to better your forex knowledge.
TP Market Trades' educational resources
This feature caters to new and experienced traders, allowing for continued growth in your trading career. The trading world is dynamic, and the latest tools and strategies are constantly being developed. Keeping up with industry developments is essential to stay on top of your game as a trader. This includes new trading platforms and evolving trading features and indicators.
However, some brokers do not offer any education to better your skills and knowledge. Moreover, some of those who provide education focus more on quantity than quality. Markets.com and TMGM do not offer educational resources.
PROFESSIONAL TRADING
TP Market Trades is one of the best forex brokers for professional traders because it offers a more advanced trading platform. With TP Market Trades, traders can use the cTrader platform, which gives much more advanced features than MT4 or MT5. With cTrader, you gain access to backend professional data, which allows you to improve your execution speeds.
Moreover, it allows a high level of customization, allowing professional traders to change many features. Furthermore, traders can create and automate their strategies and indicators on the platform. Therefore, it would be better for a professional trader to choose a broker with a platform that meets their skill set. This is the cTrader platform.
cTrader on TP Market Trades
The cTrader platform takes trading to another level. Despite its more complex features, the platform can be used by new traders who prefer the more modern design. Most forex brokers do not offer the cTrader platform, giving TP Market Trades a competitive edge and the best forex broker for professional traders. Admirals, Markets.com, and TMGM all offer MetaTrader platforms.
Picking the best forex broker can be a tricky exercise. However, with the above comparisons of TP Market Trades and other brokers, you can see why it is one of the best options. Join TP Market Trades, a forex broker with a competitive edge that allows you to access some of the best conditions for trading.