Best 10 Nasdaq 100 Forex broker 2024 - eToro
Top 10 Nasdaq 100 Forex brokers 2024:
eToro - Biggest copy trading community in the world (over 3,000 verified investors with copiers)
OANDA - Best for trading with advanced technical analysis tools (TradingView charts support)
IG Markets - Favorable Forex trading conditions (0 fees, avg. EUR/USD spread - 0.8)
Trading.com - Farouble Forex trading conditions (leverage up to 1:50, 70+ currency pairs)
FOREX.com - Diverse range of tradable assets (80+ currency pairs)
Interactive Brokers - Best broker for international investors (assets from 33 countries, 150+ markets)
The Nasdaq 100, a leading stock market index, tracks the performance of top U.S. tech giants like Apple and Microsoft. Traders can access this index through instruments like futures contracts, ETFs, and CFDs, offering ways to profit from price movements without directly owning the underlying assets.
For forex traders seeking exposure to the U.S technology sector companies, choosing the right broker is crucial. Traders Union has compiled a list of Nasdaq 100 brokers, prioritizing reliability, regulatory licensing, competitive trading commissions, and a diverse range of trading instruments.
Warning:
There is a high level of risk involved when trading leveraged products such as Forex/CFDs. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Brokers | US Indices | Index ETFs | U.S Stocks | Demo account | Regulation | |
|---|---|---|---|---|---|---|
|
|
|
|
|
CySEC, FCA, ASIC |
||
|
|
|
|
|
FSC (BVI), ASIC, IIROC, FCA, CFTC, NFA |
||
|
|
|
|
|
FCA, BaFin, ASIC, MAS, CySec, FINMA, BMA, CFTC, NFA |
||
|
|
|
|
|
FCA, CFTC, NFA |
||
|
|
|
|
|
CIMA, FCA, FSA (Japan), NFA, IIROC, ASIC, CFTC |
||
|
|
|
|
|
SEC, FINRA, SIPC, FCA, NSE, BSE, SEBI, SEHK, HKFE, IIROC, ASIC, CFTC, NFA |
||
|
|
|
|
|
US Securities Commission (SEC), SIPS |
||
|
|
|
|
|
FINRA, SIPC, CFTC, NFA |
||
|
|
|
|
|
FSC |
||
|
|
|
|
|
MISA |
The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA. eToro Profile Details
| 💻 Trading platform: | Mobile Trading, WebTrader |
| 🔧 Trading instruments: | Currencies, assets of stock and commodity markets, cryptocurrencies |
| 💱 Spread: | From 2 points |
| ⭐ Trading features: |
Cryptocurrency trade; Structural investment portfolios; Copy Portfolios; Trading Central. |
| 💰 Account currency: |
USD |
👍 Pros
• the minimum transaction amount for copying is $1;
• handy functionality for passive investing;
• regulated by independent monitors;
• it is possible to purchase contracts for fractional shares (that is, to invest amounts less than the cost of one share);
• it is possible to buy shares at once (not CFDs) on the US stock exchanges.
👎 Cons
• high spreads;
• periodic technical failures in order execution;
• lack of the most popular platforms such as MetaTrader 4 and MetaTrader 5 in Europe and the CIS;
• no access to ECN systems, orders are processed only according to the STP (straight-through processing) scheme with access to specific liquidity providers;
• there is a commission for withdrawing funds;
• impolite support staff;
• inconvenient website.
The name OANDA is an acronym for “Olsen & Associates” or “Olsen AND Associates”. It is registered in the United States and provides its clients with a wide range of financial services in most countries of the world. The company was founded in 1996 and is currently regulated in four jurisdictions. The main regulator of the broker is the UK Financial Conduct Authority (FCA). Oanda Canada is licensed by IIROC. The company has several significant awards to its credit, including a victory in the category "Best Forex Trading Technologies" from the UK Forex Awards, "Best Trading Platform" from FX Week, as well as "Best Customer Service" from the US Foreign Exchange Report.
| 💻 Trading platform: | WebTrader, MetaTrader4, Mobile platforms, MetaTrader5 |
| 🔧 Trading instruments: | FX, Indices, Bullion, Commodities, Crypto |
| 💱 Spread: | From 0 points |
| ⭐ Trading features: |
Advisors; Availability of a demo account; A large number of training materials. |
| 💰 Account currency: |
USD, EUR, HKD, SGD |
👍 Pros
• Minimum deposit from 1 dollar.
• A large selection of the most popular trading instruments.
• Several reliable and reputable financial regulators.
👎 Cons
• Inconvenient and poorly functioning site.
• Lack of cent accounts.
• Lack of bonus programs.
IG Markets has been providing brokerage services for retail traders since 2014. It was established in 1974 in London to work with professional traders. It is a part of the IG Group with representative offices in 17 countries. IG Markets stocks are traded on the London Stock Exchange as a part of the FTSE 250 index. The broker is regulated by FCA (Financial Conduct Authority | the UK), CySec (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investments Commission), BaFin (the Federal Financial Supervisory Authority | Germany), FINMA (Swiss Financial Market Supervisory Authority), and NFA (National Futures Association). The IG Group global representative office is supervised by BMA (the Bermuda Monetary Authority). The broker provides services of trading Forex and different CFDs through MetaTrader 4 and its in-house platforms for retail and professional traders.
| 💻 Trading platform: | MetaTrader4, API, ProRealTime, IG Trading Platform |
| 🔧 Trading instruments: | Forex; CFDs on indices, commodities, and stocks; Cryptocurrencies, options, interest rates, sectors, bonds, knock-outs, ETFs, and Futures on indices and commodities |
| 💱 Spread: | From 0.4 points |
| ⭐ Trading features: |
Leverage depends on the instrument and the regulator; |
| 💰 Account currency: |
USD |
👍 Pros
• Regulated activities and participation in compensation funds;
• No minimum deposit requirements when opening an account with the international division;
• Leverage is available for trading currencies and CFDs;
• Wide range of trading assets and markets;
• Fee rebates for new and active existing clients with large trading volumes;
• Floating spreads from 0.6 pips for retail Forex traders;
• Bonuses for new clients and partnership programs for different client categories.
👎 Cons
• The broker can reject opening accounts to traders with low capital or insufficient knowledge of derivatives trading;
• Deposits and withdrawals can’t be made with e-wallets, electronic payment systems, or cryptocurrencies;
• Trading conditions differ for various countries, so you have to look for the broker’s website in your country.
Trading.com is a UK broker whose full name is Trading Point. Previously, it was called XMUK, but in 2019 it was rebranded and the company began to operate under its new title: Trading.com. The company offers to trade six asset classes such as currency pairs, metals, as well as CFDs on stocks, stock indices, commodity futures, and energy resources. More than 1,250 assets are available in total. The main office is located in London, the broker is regulated by the FCA (Financial Conduct Authority), and its registration number 705428.
| 💻 Trading platform: | MT5 |
| 🔧 Trading instruments: | Currency pairs (57), CFD on shares (1200+), commodity group (8), indices (14), metals (2), energy resources (5) |
| 💱 Spread: | From 0.6 points |
| ⭐ Trading features: |
$5/month – payment for inactivity on the account |
| 💰 Account currency: |
EUR, USD, GBP, CHF, AUD, PLN, HUF |
👍 Pros
• Favorable trading conditions - average spreads in major pairs are 0.6 pips.
• No commissions.
• Moderate requirements compared to the size of the minimum deposit. You can start trading when you deposit at least $5 to your account.
• MetaTrader 5 desktop and mobile platforms, as well as a web terminal, are available for trading.
• Reliable FCA regulation.
👎 Cons
• The broker only provides services to UK citizens.
• The absence of PAMM and MAM accounts for passive investing.
• The absence of bonuses, training programs.
Forex.com is a company owned by GAIN Capital Holdings, Inc. (NYSE: GCAP) and has earned a reputation as a reliable broker in the trading industry for its transparent work and high quality of services. The company cooperates with clients in 140 countries. The broker is registered in the Cayman Islands and supervised by CIMA (Certified Institute for Management Accountants). The license number is 25033. The parent company of the Forex.com broker is registered in England and Wales under the number 1761813 at the UK Companies House. It is licensed by one of the most reputable regulators in the world, FCA (No. 113942).
| 💻 Trading platform: | FOREX.com, MT4, MT5 |
| 🔧 Trading instruments: | Forex, cryptocurrencies, indices, commodities, stocks |
| 💱 Spread: | From 0.2 points |
| ⭐ Trading features: |
There is a cryptocurrency trading |
| 💰 Account currency: |
USD, EUR, GBP |
👍 Pros
• average rate of order execution is 0.04 ms;
• reliability is controlled by several regulators so customer funds are kept on separate accounts from the company's assets;
• attractive trading conditions are tight spreads on over 90 assets, including currency pairs and metals, and over 4,500 markets, including FX, indices, commodities, stocks, and cryptocurrencies.
👎 Cons
• poor quality of site optimization, little specifics in the descriptions of services, tabs at the top of the page do not work. To find the information you have to use a tab called "Sitemap";
• it is difficult to contact the support service due to its high workload;
• large fixed commission for withdrawing funds;
• high initial deposit, it starts from $1,000;
• there are few options for depositing and withdrawing funds, the terms rarely correspond to those stated.
Interactive Brokers is among the best-known US investment companies, operating since 1977. The broker offers to trade currency pairs, but its basic instruments are stocks, CFD, indices, metals, ETF, futures, and other exchange market assets. You can also trade cryptocurrencies on Interactive Brokers. The company is regulated by the US Securities and Exchange Commission (SEC), the US Financial Industry Regulatory Authority (FINRA), the UK Financial Regulatory Authority (FCA), and other international financial regulation commissions. In 2020, the broker was awarded the "Best Online Broker” (Barron's) and "Best Broker for Economical Investments" (NerdWallet) titles and got five stars in the Online Stock Trading for Traders category (Canstar). Also, the broker is popular in other countries. Here you can read reviews of Interactive Brokers in Canada, Singapore, Australia, Hong Kong, Ireland.
| 💻 Trading platform: | Trader Workstation, IBKR Mobile, APIs |
| 🔧 Trading instruments: | Stocks, options, futures, currency, metals, bonds, ETF, mutual funds, CFD, EPF, Robo-portfolios, hedge funds |
| 💱 Spread: | From 0 points |
| ⭐ Trading features: |
Options, trading, CFD, ETF, EPF |
| 💰 Account currency: |
USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
👍 Pros
• wide range of training materials;
• access to 135 markets in 33 countries;
• a huge subset of trading instruments.
👎 Cons
• website interface is only partially translated into other languages;
• you have to pay for an inactive account;
• Support service does not work on Saturday and Sunday;
• long and complex registration procedure;
• no cent accounts for novice traders.
Here are some tips on how to find a trustworthy broker for NASDAQ 100 investments:
This is the most important factor to consider when choosing a broker. A regulated broker is required to follow certain rules and standards, which helps to protect investors. You can check the broker's regulatory status on the website of your country's financial regulator.
The NASDAQ 100 is an index of 100 of the largest non-financial companies listed on the Nasdaq stock exchange. You can trade the NASDAQ 100 itself, or you can trade individual stocks in the index. You can also trade NASDAQ 100 futures and options as well as CFD contracts in some countries.
Many brokers offer demo accounts, which allow you to trade with fake money. This is a great way to try out a broker's platform and get a feel for their trading tools before you commit any real money.
Different brokers charge different commissions for trading. Make sure to compare commissions before you open an account.
Before you choose a broker, read reviews from other traders. This can help you get a sense of the broker's reputation and customer service.
| Instrument | Typical Leverage | Costs | Drawbacks | Benefits | Property Status |
|---|---|---|---|---|---|
CFDs |
High (up to 20:1) |
Variable spreads |
Risk of loss exceeding initial investment. Not allowed in the U.S. |
Potential for high profits with leverage, short-selling capability. Low entry from $50-$100. |
Not ownership of underlying asset |
Stocks |
None |
Market price + commissions |
Limited potential returns |
Potential for long-term capital appreciation, dividends |
Ownership of underlying asset |
Futures |
High (up to 20:1) |
Contract price + margin requirements |
Complex contracts with expiration dates, high risk of loss exceeding initial margin |
Potential for high profits with leverage, hedging capability |
No ownership of underlying asset, |
ETFs (Exchange Traded Funds) |
None |
Market price + expense ratio |
Limited potential returns compared to leveraged instruments |
Diversification across multiple Nasdaq 100 companies, lower risk than individual stocks |
Ownership of a basket of underlying assets |
Options |
Variable (depends on option type) |
Premium cost + commissions |
Complex strategies required, potential for complete loss of premium |
Potential for high profits with limited capital outlay, directional & volatility speculation |
No ownership of underlying asset, right but not obligation to buy/sell at certain price |
For short-term plays, I gravitate towards E-mini NASDAQ 100 Futures. Their rock-bottom commissions and exceptional liquidity make them a top choice in the US market. Unlike individual stocks, E-mini futures sidestep the Pattern Day Trading Rule, giving you more flexibility throughout the day.
However, for long-term investors, ETF funds that track the index are a solid option. They offer broad exposure to the Nasdaq 100, mirroring its composition and providing benefits like dividends and price tracking. Popular examples include the Invesco QQQ Trust (QQQ) and the ProShares UltraPro QQQ (TQQQ).
TradingView is a well-known trading platform that supports advanced charting tools. Traders Union has compiled a list of the top 3 brokers that offer trading directly from TradingView charts. This trading platform can help you expand your arsenal for analysis and decision-making in trading.
| Broker | TradingView support |
|---|---|
Account minimums for NASDAQ 100 trading vary based on the instrument: CFDs can start as low as $50 with fractional share trading, while E-mini futures require a higher initial deposit around $500 due to margin requirements.
ETFs offer low-cost entry points with minimal investment, while individual stocks depend on the broker and stock price, with fractional shares lowering the barrier. Remember, minimums might not include trading fees, so factor those into your plan.
NASDAQ 100 is a stock index that tracks the 100 most actively traded non-financial companies listed on the NASDAQ (National Association of Securities Dealers Automated Quotations) stock exchange. The stock exchange was founded in 1985 and excluded any financial businesses. The financial companies feature in the NASDAQ Financial-100 index.
NASDAQ 100 measures the changes in total shares of the listed companies. The index changes with each rise or fall in companies' share prices. However, such changes are felt at macro levels, making it perfect to notice large changes. You can also be interested in information about trading hours for Nasdaq100.
NASDAQ stock exchanges use the market capitalization of companies to calculate and weigh the Nas100. As a result, the financial index score gets pressure from larger-cap businesses.
The index value is calculated by multiplying the total index share weight value with the last closing price for each instrument. It is then divided by an index advisor.
Yes. You can trade NASDAQ 100 in Forex. It mostly works with CFDs, which have a high leverage value and small trade margins. However, you won’t own the share but earn by predicting the rise or fall of prices. Your speculating capabilities determine how much you make.
Picking the most suitable Forex broker is crucial to your success. You can’t blindly go with the first one you see. However, once you have chosen a broker, you must have the skills to make trading decisions to avoid losses. Here are some tips to help you trade NASDAQ 100 with Forex Brokers.
Monitor buys and sell signals using technical analysis
Monitor fundamental variables such as the central bank’s position, trade and currency wars, economic data release, and large companies
Weigh the risks versus the reward and make an appropriate decision
Record trades and review them later
Trade while energetic and sharp
Pick the best market hours, like the eastern time
You can trade the NASDAQ 100 index on MetaTrader 4 and 5 as CFD futures. The CFD futures allow you to predict and speculate on the prices of specific goods. As a trader, the NASDAQ 100 allows you to assess risk and wage on the rise or fall of prices in various sectors, such as agriculture, the dollar index, and government bonds.
The CFD instruments link to an asset, and you don’t own the futures contract as an investor. You earn by predicting the prices.
NASDAQ stock exchanges use the market capitalization of companies to calculate and weigh the Nas100. As a result, the financial index score gets pressure from larger-cap businesses.
The index value is calculated by multiplying the total index share weight value with the last closing price for each instrument.
NASDAQ - National Association of Securities Dealers Automatic Quotations
Trading NAS100 requires some level of analysis. The two main types of analysis include:
Technical analysis, which involves looking at data to look out for sell or buy signals
Fundamental analysis, which monitors external factors such as trade wars and central bank standings that affect the stock prices
Both the Nasdaq and the S&P 500 are popular indexes representing different segments of the stock market. The Nasdaq focuses more on technology and growth-oriented companies, while the S&P 500 is a broader index representing the overall market.
Investing in either depends on your risk tolerance, investment goals, and portfolio diversification strategy. The Nasdaq may offer higher growth potential but with increased volatility, while the S&P 500 provides a more balanced exposure to the overall market. Consider your investment horizon and risk tolerance before deciding.
Traders Union applies a rigorous methodology to evaluate brokers using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under.
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Brokers are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Brokers are assessed based on the variety, quality, and features of platforms offered to clients.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Find out more about the unique broker assessment methodology developed by Traders Union specialists.
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
Index in trading is the measure of the performance of a group of stocks, which can include the assets and securities in it.
CFD is a contract between an investor/trader and seller that demonstrates that the trader will need to pay the price difference between the current value of the asset and its value at the time of contract to the seller.
Forex leverage is a tool enabling traders to control larger positions with a relatively small amount of capital, amplifying potential profits and losses based on the chosen leverage ratio.
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).
