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Traveling is one of the most exciting experiences that anyone can have. It broadens the mind, allows you to experience new cultures, and rejuvenates the soul. However, planning a trip can be a daunting task, especially when it comes to currency exchange. This is where forex travel agencies come in.

What is a Forex Travel Agency?

A forex travel agency is a specialized travel agency that helps travelers with their foreign currency needs. They offer services such as currency exchange, travel insurance, and visa assistance. These agencies make it easy for travelers to focus on their trip without having to worry about the complexities of foreign currency exchange.

How Does a Forex Travel Agency Work?

Forex travel agencies work by offering currency exchange services to travelers. When you plan your trip with a forex travel agency, they will help you exchange your local currency for the currency of the country you are visiting. This makes it easy for you to have cash on hand when you arrive at your destination.

In addition to currency exchange services, forex travel agencies also offer travel insurance and visa assistance. Travel insurance can provide you with peace of mind when you are traveling, knowing that you are covered in case of any unexpected events. Visa assistance can help you navigate the complicated visa application process, ensuring that you have all the necessary documents to enter the country you are visiting.

Why Use a Forex Travel Agency?

There are several reasons why you should consider using a forex travel agency. Firstly, they offer competitive exchange rates, which can save you money on your trip. Secondly, they make it convenient for you to exchange your currency before you travel, which means you won’t have to worry about finding an exchange bureau when you arrive at your destination.

In addition to these benefits, forex travel agencies also offer other services that can make your trip more enjoyable. For example, they can help you book flights, hotels, and tours, which means that you can plan your entire trip with one agency. This can save you time and hassle, as you won’t have to deal with multiple companies.

How to Choose a Forex Travel Agency?

Choosing the right forex travel agency is important if you want to have a stress-free and enjoyable trip. When selecting an agency, consider the following factors:

• Exchange rates: Look for an agency that offers competitive exchange rates.
• Services offered: Check the agency’s website to see what services they offer, and make sure they offer the services you need.
• Reviews: Read reviews from other travelers to see what their experiences were like with the agency.
• Customer service: Look for an agency that offers excellent customer service, and is easy to contact if you need help.

Forex travel agencies are a great option for travelers who want to make their trips more convenient and stress-free. These agencies offer currency exchange services, travel insurance, and visa assistance, which can save you time and money on your trip. When choosing an agency, make sure to consider factors such as exchange rates, services offered, reviews, and customer service.

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• Foreign Currency Exchange Services Overview

Forex Services for Overseas Travelers

The currency is the spine of international travels and trades. Forex services for overseas travelers have become vital as it will be very much difficult for travelers to buy, sell or even survive in the foreign land. We live in a globalized world, where everything is traded with the motive of gaining financial profits. 

Every country has decided on its currency to make the internal and international businesses smoother. Now, every economy is different. The value of the currency is determined by the market forces. So when it comes to international trading, some currencies’ value is higher than another one. 

Now, in these situations when the traveler wishes to travel internationally, he/she needs to have the money in the currency of the destination country. This is when the traveler approaches the Forex services to exchange the currency and gain the value of it to spend it in the destination country. These services have evolved their forms with the advancement of technology. 

The various services that the foreign exchange companies provide for international travelers are as follows:

• Currency Exchange/Cash Exchange
• Overseas Remittance
• Forex Travel Card

German Blocked Account

Foreign currency demand draft.

• Travel Insurance

Each type benefits the overseas traveler in enormous ways. Let’s look into it one by one in detail:

Foreign Exchange

Foreign currency exchange simply means converting the money from one currency to another. Foreign exchange of cash involves a physical exchange of money from one party to another. 

For instance, a German traveler has arrived in New York to visit the time square. He needs some money to spend at the location. He approaches the Forex kiosk to convert the Euros into dollars. He hands over the Euros at the desk and takes dollars. While doing so he has to pay the commission fees with some percentage of the total amount of the transactions.

This is a general procedure of acquiring foreign currency. However, travelers prefer carrying converted cash in advance. This means they reach out to the nearby foreign currency exchange services in their own country before they travel abroad. 

Why Do You Need Foreign Exchange?

It is necessary to exchange the currency when the traveler has to spend the money abroad. The exchange rate of the currency determines how much foreign currency the traveler will get. Even though the travel has booked the travel packages , he/she will need an amount in hand to spend it in the landing country. 

Especially cash, in case the card doesn't work, the travelers prefer carrying some amount of cash handy in case of emergency. Even though the rate of Forex currency exchange is fixed, the amount that the traveler gets may vary a little. It depends on the location and the percentage of the commission that the company takes.    

What Are the Benefits of a Foreign Exchange?

Though there are some risks, carrying cash in the travel country can benefit the traveler in various ways- 

• Relief From the Card Fees- You do not need to pay extra every time you transact in cash. When you have cash, you end up paying the exact amount without any surcharges of the transaction. This way you will have more cash in hand to spend and explore the destination.
• Easy Access- The cash is always helpful in case of emergencies. For example, you are having food in the hotel of your travel country. You wish to make the transaction with your forex card, but unfortunately, there is a network issue. In such cases, cash can help.
• Some Places Do Not Accept Cards- Places like local markets, where most of the shopkeepers may prefer taking the cash instead of the e-transactions. Even when most businesses prefer cards and e-transactions, there are some places where cards are not accepted. Keeping at least some amount of cash is always helpful instead of keeping all the money in the forex cards.

Now, what are these Forex cards?

A Forex card carries the foreign currency of your travel country that will help you manage your expenses during your stay. It is a card just like our credit or debit card. The difference is the card carries the foreign currency. A traveler can load the card with foreign currency. 

Further, the card can help travelers withdraw cash from the ATMs abroad. The travelers can pay for their expenses in the local currency of their travel country.  The Forex travel card is very handy to use. 

There is no fear of losing cash when the travelers hold this. Expenses such as entry tickets for sightseeing, rail, bus, taxi travels, food bills, etc. can be managed through the foreign currency card.

What Are the Different Types of Forex Cards?

The Forex cards come in two variants. Multi-currency Forex card, and a single currency card. Also, some travelers prefer prepaid cards and some prefer credit Forex cards. A prepaid card means a traveler loads a particular amount estimating his/her expenses in the foreign land. 

A credit card means that he/she can spend the amount from the card and repay it later with some amount of interest on it. 

There are two types of Forex cards.

• A Multi-Currency Forex Card- In this type the traveler can preload the card with multiple currencies. For example- a traveler has a plan to visit more than one country in his trip. He/she does not need to carry that number of cards. He can use one single card in multiple countries. This card enables the traveler to convert the currency from one to another through net banking. It is a convenient mode if the traveler is planning to visit multiple countries. 
• Single Currency Forex Card- A single currency card comes with limitations. A traveler can load only one currency in this. He/she will end up paying extra charges if it is used in another country. A traveler can reload the card again when he needs to transact in the third currency. 

Why Do You Need a Forex Card?

Forex cards carry e-money in the local currency of your travel country. It allows travelers to transfer money electronically when traveling abroad. By using Forex cards a traveler can withdraw cash in foreign currency, keep a track of the balance and manage the expenses such as shopping, food, sightseeing or hotel stays. 

Banks and foreign exchange companies issue these cards. If the traveler needs more money than what he/she has, the top-up of the card is also a new option. It is safer to have the maximum amount of currency in e-form than cash. Because it is an easy and secure option. 

What Are the Benefits of a Forex Card?

Foreign currency cards benefit travelers in enormous ways. It is the most affordable way of managing expenses internationally. It is a safer mode than cash. It takes fewer transaction charges as compared to other cards. A traveler can use the same card for multiple trips, so it is economical too. In some countries, the traveler using the Forex cards enjoys special privileges and discounts.

Following are some major benefits of using Forex cards. 

• Forex cards are more affordable than any other form such as cash, traveler’s cheque, credit, or debit cards. The exchange rate is locked at the time of issuance of the card. There are no more currency fluctuations that the traveler has to face while using this card
• Foreign currency cards are universally accepted. The multi-currency card lets the user store multiple currencies which makes it convenient for the traveler who is visiting multiple countries.
• The user of the card can keep a track of expenses and the balance of the money as they have online access to the account.  Moreover, the balance amount is not wasted, as you can convert it into your native currency once your international trip is over. 
• The cards also come with several discounts. Some PoS in various countries offer certain discounts if the traveler pays through the forex cards. In the same cases, if he/she pays through debit or credit cards, the payer may end up spending extra transaction charges of between 5 %-11% of the total transaction cost. So, other than being a safe and secure option, forex currency cards also help in saving money in various ways. 

Simply a remittance means the method of paying the amount of money from one party to another. This term is broadly used for international transactions. For example, a traveler is in a foreign country. He/she needs some extra amount. The travelers relative from another country can use the remittance as a method of payment. The term, remittance is derived from the word remit which means send back. 

Why Do You Need Overseas Remittance?

Overseas remittance is needed for the following reasons.

• Tours or private visits. 
• Immigration or job purpose.
• Manage the expenses of the relative abroad. 
• For international medical treatment.
• Study abroad
• Corporate traveling, seminars, or training abroad.
• Gifts or reimbursements. 

Types of Remittance

There are several ways to pay the remittance which includes methods such as- 

• Wire/Bank Transfer- A bank or a wire transfer is an electric method of transferring money from one bank to another. It involves a domestic and international bank-to-bank money transfer. 
• Actual Cash Pick up - cash pick-up is when money is transferred from one bank to another and the receiver of the payment wants that amount to be collected in the form of cash. The receiver does not receive an electric payment, but he will have to go to the bank and collect the physical cash.
• Mobile Money Transfer - We all are familiar with mobile wallet services which are highly in form due to pandemic situations. It is a digital remittance service at your fingertips. It has made domestic and international remittance faster and less stressful. The user can use the mobile phone to transfer money abroad or in the country.
• Home delivery- It is a traditional method of remittance and many people still prefer this. Through this service physical cash is directly delivered to the home address of the recipient. 

Documents required for remittance abroad.

The following documents are necessary for international money transfer- 

• A KYC details including PAN card, Government issued ID proof
• Beneficiary’s Bank Account details
• Supporting document for reason for remittance. (University letter, travel proofs, etc.)

These are the three basic documents needed for the remittance. However, there are some additional documents needed, depending on the purpose of the international travel. 

For instance, if the traveler is going abroad for medical treatment. He/she will additionally have to submit more documents such as a declaration from the applicant. This declaration explains the requirement of remittance.  

What Are the Benefits of an Overseas Remittance? 

As remittance can be acquired through various means, it benefits the user in different ways. 

• Better Exchange Rate - When you approach a special currency exchange provider, it can offer you great exchange rates. In this way, you will not end up paying more money other than the transfer amount.
• Larger Withdrawal Cap- Sometimes your banks may have a cap on the withdrawal limit. This applies to the limit of money transfer on each day. The remittance service providers have higher limits. It is useful if you are trying to make overseas transfers for larger amounts.
• Flexible features- Remittance can be done in various forms as per your comfort. There are spot deals, regular payments, e-methods, cash deposits, on-door deliveries, and many more. This way, the beneficiary can choose the suitable method considering the situation. For example, in the case of medical purposes, if the money is required instantly, the mobile money transfer can be the fastest option. 

A Foreign Currency Demand Draft (FCDD) is mostly necessary for paying the course fees internationally. The FCDD deposits money directly into the beneficiary's international bank account. It also saves on bank transaction charges. The validity of FCDD is six months. 

However, understand that it is not an immediate method of transaction. It takes approximately 2 weeks of processing and money to get reflected in the account. This method is not useful when money is required on an urgent basis. 

Why Do You Need Foreign Currency Demand Draft?

Most of the international universities demand fees to be paid through Demand Drafts. It is the cheapest and the most transparent method of money transfer. It is easier for the universities to keep a track of the transactions. The frequent traveler will not opt for an FCDD. However, if there is a relative who is staying abroad and needs money. The FCDD is a safer option.  

What Are the Benefits of a Foreign Currency Demand Draft?

There are various benefits of choosing an option for FCDD

• This is a cheaper option as the payer only has to pay a minimum fee and service tax.
• There are fewer chances of it being misused. There are proper details mentioned on the DD such as:-
• Name of the beneficiary
• Name of the transferer
• The receiver’s location
• According to the Foreign Exchange Management act, there is no withdrawal amount limit for the FCDD.
• There is no currency restriction. The FCDD can be issued in any currency.

As the name suggests, a German blocked account is the type of finance account specifically used in German. The country has been pulling a lot of students from all over the world by providing world-class education. 

Considering this, every German university is requesting that a monthly sum amount of money should be provided to the students so that they can manage their expenses. This money is deposited in an account named as German Blocked Account. 

Having this account is a compulsion while students wish to apply for a study visa in Germany. This account is called a blocked or closed account because there are very strict instructions and limitations on the monthly withdrawal of the money. 

Why Do You Need a German Blocked Account?

A German Blocked account is a mandatory aspect for all the non-EU and non-EEA international students who aspire to study in Germany.

It is official financial proof a student has to present to the embassy while applying for the visa. 

The students or the depositor cannot withdraw the amount directly. The depositor can open another current account and the monthly amount from the blocked account will be deposited for use. You cannot withdraw the full amount at a time. Many visitors keep this amount from the blocked account as a safe deposit for backup and use the money by opening another current account in a different bank.   

What Are the Benefits of a German Blocked Account?

• Fulfills Visa Requirements- It is a mandatory requirement for international students who are applying to study in Germany. The applicant has to deposit a certain amount in the blocked account to prove how the student is going to manage the expenses during their stay in Germany.
• Guarantees Your Expense- The account assures that the international student has sufficient financial support. This is unlike any other account. The withdrawer cannot withdraw all the amount at a time. The student is allowed to take out the limited amount. This way it helps students to curb their expenses too.
• Emergency Support- Some applicants use this account as emergency support. They keep the money blocked and open another account for their monthly expenses. The German blocked account also works as a support system for the students. This way students do not spend the entire amount in one go. They are always with some amount in the account for emergency purposes.

It is insurance just like any other insurance that we take. Traveling is an enthralling experience. It is even more peaceful when you know you have travel insurance in case of any mishaps. The travel insurance covers the expenses of policyholders if there is misfortune while traveling abroad and domestically. Some of the most common expenses that the travel insurance covers are,

• Medical Expenses
• Trip Cancellation
• Lost luggage
• Accidental Covers
• Any other emergency occurred while traveling. 

The travelers can customize the policy according to their will. The list of covers varies based on the customized policy. It is necessary to choose the best travel insurance provider as you cannot compromise when it comes to risk-taking.  

Why Do You Need Travel Insurance?

Travel insurance is a vital decision that the traveler has to take while planning a trip. Travel insurance works as a support for all travelers. The emergency does not ring a bell before it appears. The need for travel insurance is high because many possible problems can occur during the period of travel. To be assured throughout the trip and to try to avoid the extra expenses travel insurance is necessary. A sudden expense can affect the traveling experience too. Travelers can customize the insurance and opt for it as per their needs. 

What Are the Benefits of Travel Insurance?

• Covers Travel Risks - Travel insurance comes with several covers to offer. Such as medical emergencies, loss of luggage, accidents, and many more. Any mishap that can happen is covered through the travel insurance company. In case of any misfortunate event, a traveler can reach out to the insurance office and get the benefits. Some companies also cover the visa rejection fees. So, it is necessary to have the travel insurance by the side to be secured while traveling.
• Overseas Medical Treatments can be heavy On the Pocket - For instance, you are visiting a snowy region and you are planning to do hiking. You or any of your family members end up having a small accident that needs medical treatment immediately. Make sure you have insurance covering medical expenses. If you do not have insurance, it can be a really big toll on your travel budget if you end up facing any mishaps during your hiking experience. Medical treatments overseas can be a burden in such cases.
• Some Countries Mandate Travel Insurance - Countries such as the USA, Cuba, and Schengen countries mandate that travelers must have travel insurance. As it is, the medical treatment cost in these countries is high. These countries thoroughly check the travel insurance policies while issuing the visa. It brings a positive impact on the visa issuance for travelers.  

How to Select an Authorized Service Provider for All Forex Services?

With so many options available, it is very difficult to choose the best-authorized service provider for Forex. How can we find one on whom the traveler can rely with their money? The Reserve Bank of India has authorized only AD I and ADII categories to transact the international remittance.

The AD I agents include all the authorized banks. And ADII means all those agencies that have derived license from RBI for money changing. It is always advisable to choose the best foreign exchange companies who can let you have any type of foreign exchange, such as Remitx. 

BTW Visa Services in association with Remitx provides the following Forex services for the smoother functioning of all types of travelers such as Leisure and Business Travelers, Students, and others traveling overseas.

• Foreign Exchange(Cash)
• Forex Cards
• German Blocked Account Transfer 
• Foreign Currency Demand Drafts

Remitx stands out from the pack of other service providers as it is a division of Capital India Finance Limited. Remitx also holds an authorized category II license from the Reserve Bank of India.

By ganesh mane | 9 Apr, 2021. Posted In article .

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How to set up a foreign exchange at your travel agency.

Foreign exchange can be a great addition to your business from a commission perspective but what should you consider if you are thinking of setting it up? Abigail Healy assesses the pros and cons.

Foreign exchange is a commission booster for many agents and can even be a great marketing tool for attracting new customers.

Yet with stories occasionally cropping up about agencies that have experienced security issues, there can be valid concerns around safety.

Then questions of regulation and supplier partners surface and it can all begin to seem quite onerous. However, Lisa Henning, group membership services director at the Travel Network Group, says agents should offer forex for two reasons.

“One: to protect your business – if clients can’t get their currency from you they’ll go somewhere else, which could risk you losing a client. Two: to help your business grow – if you offer excellent service via forex, that customer might well return and book a holiday with you next time.”

And if you need any more persuasion, Stephen Eccles, travel money sales & operations manager at Midcounties Co-operative Travel, says that the business has “a few branches that transact more in forex than they do in holiday sales.”

“You don’t have to have a full bureau if space or cost is an issue but you do need a safe so the money can be kept locked away at all times,” says Henning.

Natalie Turner, head of branches at Midcounties Co-operative Travel, adds that you need to ensure you meet any security specifications that your business insurance provider requires, such as the type of locks you use, doors fitted and security glass where a bureau is installed.

She also highlights the importance of considering how the agency banks and safe content cover, adding: “Consider security collections and deliveries, or where staff have to walk to the bank – what procedure is in place to support their safety?”

Anth Mooney, managing director at Thomas Cook Money, says that developments in technology have made offering forex more secure, as agents can offer click and collect services meaning they don’t necessarily have to keep lots of cash on site.

“If you operate on a more digital basis, where the customer asks you the day before if they can come in and collect €500, for example, then you can make sure that’s available for them in a package.”

Henning advises agencies to be discerning when selecting a forex supplier partner. “Look at the rates they offer but remember they also charge for postage so don’t be fooled by delivery fees. Also consider how long delivery takes. We work on an ‘order today, deliver tomorrow’ basis for example.”

Different suppliers offer different pricing, some of which can seem more appealing from a commission perspective than others. Mooney advises taking care to strike the right balance.

“Make sure your customer is getting a fair deal but that it works commercially because there is a cost attached to doing this kind of business and fulfilling those regulatory obligations.”

Nicola Loftus, operations manager for Hays Travel, which offers a forex service in its own branches and to third-party agents, says agents should watch out for providers that ask to be paid upfront for currencies, as this could expose them to the risk of exchange rate fluctuations.

To set your business up to offer forex, from a regulatory perspective you must undergo a ‘fit and proper’ test with HMRC as well as registering for the anti-money laundering scheme. For more detailed guidance on anti-money laundering guidelines, see gov.uk.

Mooney also highlights the importance of ensuring you have a process in place to avoid any claims of money laundering.

“You have to demonstrate that you know the customer and that you can prove that there has been no money laundering; that there’s no fraud and that the customer is who they say they are.

“It is not that complicated or onerous but there needs to be consistency around that process, and you need to be able to demonstrate to a regulator that you’ve got adequate controls, monitoring and staff training in place, and be able prove staff competency.”

Once the practicalities are sorted, your next consideration is how you are going to promote your services to clients.

Henning advises agents to be pre-emptive. “In the five Worldchoice stores that we at TTNG own, we naturally reserve currency for clients who have booked with us. We tell them their tickets are ready and we have already reserved £500 of currency for them and ask: ‘Is that enough’?

“We have really high conversion rates on forex by doing it this way – more than 70% of booked clients take our foreign exchange too.” Of course, local competition is a key factor. Henning adds: “It’s important to keep on top of it – for example, we offer deals such as ‘Senior Citizens Fridays’ and often promote more “weird and wonderful” currencies, as not many others keep them in stock.”

Midcounties Co-operative Travel has similar offers such as senior citizen rates, student rates and happy hours.

Turner says: “It’s about testing what works in your town.”

She adds that competition is getting tougher all the time with the likes of WHSmith, supermarkets and even jewellery stores offering forex now. However, as a holiday provider, agents are perfectly placed to gain plenty of business.

“We have a customer journey framework that our staff follow. They include forex as part of the initial conversation, as we offer a VIP rate for customers who have booked their travel with us. It is also mentioned when customers pay their balance and when they collect their tickets.”

Eccles says that Midcounties branches push their forex services on Facebook and Twitter, include information about it in customer documentation and make it a focus in the window. “From May onwards, we treat it like we treat holiday sales in January,” he says.

He adds that you need to keep on top of market trends. For example, with Turkey picking up in popularity this year, it’s important to have plenty of lira in stock.

Finally, Turner highlights the opportunities that agents can find by thinking strategically.

“Schools tend to book group trips through specialist providers, for example, but they need currency, so you could promote your services to parents.”

Eccles adds: “Big sporting events are another great opportunity. When the Fifa World Cup was on, it was good to have that in the window. People who might have booked via a sporting specialist are then aware they can get their currency from you – it generates footfall and provides a chance to remind them that you could book their travel in future.”

“We used to offer forex in our previous store but only from a desk and it didn’t work too well. When we moved to new premises last November, the store was about three times the size so we installed a physical bureau with a whiteboard in the shop window. Since then our forex business has trebled in size.

We still have all the local competition, but having the actual bureau has made all the difference. We offer competitive rates and even better ones for clients who book their holiday with us. The staff will contact a client two weeks before their tickets are due in and ask if they’d like currency set aside for when they collect them. It feels like a special part of the service.

It’s also brought in new customers who have ended up converting into bookings and we’ve had enquiries in for 2019 too.

From a security perspective, you need to look out for scammers. Beware people who ask you to change currencies mid-transaction, for example, and if customers are using a debit card, get them to put in their PIN rather than using contactless.

But overall my advice would be open a bureau if you don’t already have one – it’s well worth it.”

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Trillions in currency are zipping around the world, 24 hours a day, five days a week, making the foreign exchange ( also known as forex or fx ) markets the world’s most active. Fortunes can be won and lost quickly, as brokers routinely let traders borrow heavily to finance their speculations.

If you’re looking to get in on this action, you’ll need a broker who deals in currency, and many of the big names in stock trading simply don’t offer this feature. Because the markets are so different, you’ll also need to evaluate a forex broker on different criteria from what you would use to evaluate a stock broker.

Below are some top forex brokers, including one that allows customers to trade cryptocurrencies .

Here are the best online brokers for forex trading in 2024:

Interactive brokers, overview: top online forex brokers in may 2024.

Interactive Brokers is well known for its low costs and powerful trading platforms preferred by active and professional traders. Forex traders won’t be disappointed by the advanced trading tools available as well as real-time quotes from many of the world’s largest forex dealing banks. You can even trade stocks on international exchanges and attach a forex order to hedge the currency at the same time.

Interactive Brokers also began offering some cryptocurrency trading in 2021. You’ll be able to trade popular cryptocurrencies such as Bitcoin and Ethereum at attractive commissions.

• Pricing: Commission: 0.08 – 0.20 basis points
• Maximum leverage: Up to 50:1
• Currency options: More than 100 pairs

Like its name suggests, Forex.com specializes in currency trading (though it trades in metals and futures, too) and it offers a plethora of attractive features. Clients can select the pricing structure that suits them best: spread or commission.

Forex.com also gives traders access to more than 80 currency pairs, and its success with clients has the broker declaring that it’s the No. 1 forex broker in the U.S., in terms of assets held with the broker. You’ll get access to the broker’s own trading platform in web and mobile versions, or use MetaTrader platforms if you prefer.

• Pricing: Spread and commission, depending on account type
• Currency options: More than 80 pairs

IG is a more specialized broker focused on forex, and it’s open to American investors. It’s a high-powered broker that nevertheless offers many features, such as a demo account, that may help novice traders. The broker offers a web platform, a mobile app and access to MetaTrader4 and ProRealTime platforms.

IG allows spreads as low as 0.8 pips (a pip is one ten-thousandth of a point) on the most traded currency pairs, and says that its pricing is at least 20 percent lower on the euro-dollar pair than the top U.S. brokers. The broker also provides an extensive range of charting capabilities across its platforms.

• Pricing: Spread

OANDA offers forex trading across 68 currency pairs, including all the major and minor pairs, ensuring that you have the important options at your disposal. Clients will have a choice of the brokers’ own trading platforms in web and mobile versions or can turn to the popular MetaTrader 4 platform. Pricing is typically on a spread basis, though clients doing more than $10 million in volume a month may participate in the broker’s Elite Trader pricing structure and achieve significant discounts.

OANDA also allows cryptocurrency trading through Paxos, allowing you to trade a handful of digital currencies, including the most popular, Bitcoin and Ethereum. Bitcoin commissions are as low as 0.25 percent.

• Pricing: Spread, and volume discounts
• Currency options: 68 pairs

What to consider when choosing a forex broker

While you may be familiar with many of the brand-name online stock brokers , only some of them deal in forex trading. Instead, a plethora of more specialized niche brokers populate the space, and they may cater to high-volume currency traders looking for every possible edge.

But regardless of which kind of broker you’re targeting, you’ll want to focus on at least a few features that are common to any forex broker:

• Pricing: Forex brokers have two ways to price their services: by baking the price into the buy-sell spread or on a commission basis. Spreads are typically quoted in pips, or one ten-thousandth of a point.
• Leverage: How much leverage will the broker let you assume? In general, traders look for a higher degree of leverage to magnify the moves in the currency market. The level may differ depending on the liquidity of the currency.
• Currency pairs: A handful of major pairs dominate trading, but how many other pairs (minors, exotics) does the broker offer? The most popular currencies include the U.S. dollar, the euro, the Japanese yen, the U.K. pound and the Swiss franc.
• Spreads: How wide are the broker’s spreads for trades? The larger the spread, the less attractive the trade. Of course, brokers who charge a spread markup will tend to have wider spreads because that’s how they get paid.

Investors looking to buy cryptocurrency may be able to do so through some of the traditional stock brokers such as Interactive Brokers or Robinhood, though the trading works differently from regular forex trading as described above.

One downside for American traders is that many top forex brokers are based in the U.K. and simply won’t accept them as clients because of their citizenship. The brokers above are all fine for Americans, however.

Forex trading FAQs

What is forex trading, what are the risks of forex trading, how do i know if my forex broker is regulated, what’s the difference between a dealing desk and an agency broker.

• As a principal, the dealing desk trades for its own account, meaning that it may take a trade from a client in which it has a vested interest in the outcome. In other words, the dealing desk could profit at the client’s expense, perhaps unloading inventory to the client just before the market falls or buying it just before the market rises.
• As an agent, the dealing desk can execute trades for a client and will pass along the trade price.

Because of this structure, a client may never know where the dealing desk’s interests lie on any individual trade – a problematic setup if you’re the client.

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• A utility bill (Less than 3 months old)
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Councillor Letter – Can only be used if the client is employed and have no other document available. It must be on the municipality’s letterhead and must contain the client’s full name, surname, ID number and residential address, the date when the letter was issued, an official stamp from the municipality, and the name and signature of the councillor who completed and certified the letter. An original salary slip less than 3 months old is needed to prove employment.

Tribal Village/Traditional Authority Letter – Can only be used if the client is employed and no other document is available. It must contain the clients full name and surname, the name of the designated official (tribal chief or leader), what legislation, ordinance or regulation authorises the designated official, confirmation by the designated official that you live on the communal property under control of the traditional authority, the date when the letter was issued, and the signature and stamp of the designated official. An original salary slip less than 3 months old is needed to prove employment.

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Featured in, next-level travel powered by tech and the human touch.

Our travel advisors have the tools, insights & connections to build your dream vacation. Get killer recommendations & perks, a seamless booking experience — and maybe a cool new friend along the way.

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Unlock perks and upgrades at thousands of hotels around the world — including Four Seasons, Andaz, Kimpton and more — at no extra cost.

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This serene casita resort features bird-song-filled acres of untamed tropical forest, a coffee farm, equine stables, organic chef’s gardens and a wellbeing center.

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Fora Advisor Christina P.

Christina was extremely thorough throughout the process. She handled everything every step of the way. Honestly, it felt like she was right by my side throughout the entire trip. I could not have experienced this trip without her.

Booked travel to Illinois with Christina P.

Fora Advisor Katrina F.

Katrina was incredible every step of the way. She helped us tighten up our itinerary and made great recommendations for hotels and restaurants that worked really well for our family. I would highly recommend anyone thinking about how to make their trip perfect go straight to Katrina.

Booked travel to California with Katrina F.

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I was impressed by the high level of professionalism in planning and organizing my trip to NYC. Attention to detail and genuine care for my particular interests - great restaurants and seeing the best of the city - were evident in every step of the planning. I highly recommend Melissa!

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Thomas was amazing. He got us a free room upgrade, free breakfasts for 5 days (an ~$270 value), a $50 room credit, early checkin, late checkout and more. I am referring him to all of my friends who like to travel in style.

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Managed expectations and helped deliver the experience I was looking for. Kind and professional. Facilitated everything so I could fully enjoy myself without worry or any kind of stress arranging my stay.

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Jill is amazing - so professional and goes above and beyond to accommodate her clients and their particular requests and booking preferences. She always find exactly what we need and want! Highly recommend.

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What is a travel agency.

A travel agency supports a team of travel advisors who sell, curate and book travel. Travel advisors consult with clients on where to go, what to do and where to stay. In addition to planning and booking trips, advisors communicate with hotels and other partners (tour companies, cruises, etc.) to ensure each trip goes smoothly.

What is the difference between a travel advisor and a travel agent?

The terms travel agent and travel advisor are used interchangeably. The original term was ‘travel agent,’ but the industry has gone through a bit of a rebrand to showcase the breadth of work that a travel advisor does. We use both, but typically refer to our network of travel advisors simply as Fora Advisors.  

Fora Advisors (a.k.a. travel advisors / agents) work with clients to understand their travel needs and handle all the travel arrangements, from booking a hotel for a long weekend to planning a honeymoon to securing a room block for a corporate conference. 

What are the benefits of working with a travel agent?

Working with a travel agent helps you level up your travel experience. A travel agent handles all the logistics — on-the-ground transfers, hotel and tour bookings, itinerary planning — so you can get the most out of your trip, without any of the stress. 

Plus, our Fora travel agents have insider access to over 5,000 preferred partnerships, meaning you get complimentary perks, priority upgrades and so much more at thousands of locations around the globe. We put serious time and airline mileage into visiting these properties in person so we can give you the up-to-date intel on your destination. We also maintain close relationships with hotel management so you’re treated like the VIP you are from the moment you arrive.

In other words, working with a travel agent unlocks a secret travel world you need to be a part of. But don’t just take our word for it… we have tons of 5-star reviews from happy clients.

Will I get perks & benefits when I work with a Fora Advisor?

Yes — big time. Our travel advisors have access to upgrades & perks at over 5,000 partners around the world. Plus, our partnerships with brands like Virtuoso , Four Seasons , Rosewood and beyond — as well as with smaller, independent boutique hotels — ensure you get treated like a VIP wherever you travel to next.

What types of travel can I book with Fora?

You name it, we book it: resort vacations, safaris , city breaks, vacation home rentals, once-in-a-lifetime adventures, weekend escapes…We do it all.

Do Fora Advisors count as Disney travel agents? What about cruise travel agents?

Absolutely. We provide comprehensive training on just about everything in the travel industry, so our advisors are well equipped to curate any client’s dream trip. (Read more about the benefits of booking with a cruise travel agent .)

I’m planning a group trip. Can Fora Advisors help?

Of course! The more the merrier. Whether you’re organizing a family reunion, honeymoon , bachelorette party or company-wide retreat, we’re happy to help. Just get in touch with your Fora Advisor to begin the process.

How do I make the most of my experience when planning a trip with Fora?

Tell us everything. Let us know if you love golf, must have access to a kids’ club or have a soft spot for off-the-beaten-path travel . Serious allergies or dietary restrictions are also very helpful information to share. That way, we’ll only show you options that fit your wants and needs. We also love to hear about your favorite hotels and trips you’ve enjoyed in the past, because that clues us in to your travel style.

If you’ve never worked with a travel advisor before, get our guide on what to expect when booking with a travel agent .

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We love to hear it! We have a guide on how to become a travel agent . Then, when you’re interested in transforming your passion for travel into a meaningful career, apply to become a Fora Advisor today . 

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Marketing Services for the Forex   Companies

Forex Marketing Agency

Amplify your Forex company’s online visibility and generate leads with our premier Forex  Marketing agency

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As a reliable Forex Marketing Agency in the industry, we excel in boosting digital visibility and expediting growth for forex businesses. Our services cater to various sectors within the forex market, including traders, brokers, and investment firms. With a specialized focus on the forex market, we ensure you gain a competitive edge and achieve sustained success in this rapidly evolving industry.

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Grow Your Forex Business with Marketing

Marketing presents significant growth opportunities for the Forex industry. By optimizing their online presence, they can attract qualified leads, gain a competitive edge, and establish customer trust. Embracing marketing ensures sustained success in the digital age while addressing emerging challenges in the Forex industry.

Here’s how we can help with marketing for the Forex industry:

• On-Page Optimization : We fine-tune various elements on your website, including meta tags, headers, URLs, and internal linking structure, to make it highly search engine-friendly. By aligning your content with relevant keywords, we enhance the relevance and visibility of your Forex offerings in search engine results.
• Content Creation : Our team creates high-quality and engaging content related to Forex trading. Through informative blog posts, articles, and website copy, we establish your authority in the Forex market and provide valuable information to potential customers.
• Digital PR : Strategic digital PR efforts aim to increase your online presence and brand visibility in the Forex industry. We identify relevant industry influencers, bloggers, and media outlets to promote your Forex brand and create positive buzz.
• Link Building : Link building for Forex businesses is essential for enhancing your website’s domain authority and credibility in search engines. We acquire relevant and reputable links from authoritative sources, boosting your Forex website’s search rankings.
• Marketing Consultancy : Our experienced marketing consultants provide valuable insights and tailored guidance to address your Forex business’s specific needs. We assess your current marketing strategies, develop customized plans, and help you implement best practices for optimal results.
• International Marketing: If your Forex business operates in multiple countries or targets international audiences, we offer international marketing services. This involves optimizing your website for different languages, cultural nuances, and country-specific search engines to expand your global reach.

Discover the power of our Forex Marketing Agency, providing a full spectrum of services designed to boost your online visibility, attract valuable leads, and drive sustainable growth in the fiercely competitive Forex market. Whether you seek on-page optimization, engaging content creation, strategic link building, or expert marketing consultancy, our committed team is dedicated to propelling your Forex business forward in the digital landscape.

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At AWISEE, we specialize in delivering Marketing Services for Forex Companies, empowering companies to thrive, amplify their online presence, and achieve enduring growth. Our bespoke approach encompasses Link Building Services, Digital PR, and intricately designed marketing strategies, all aimed at unlocking the complete potential of Forex businesses within the fiercely competitive market.

Digital PR emerges as a game-changing catalyst in the Forex industry, empowering companies to fortify brand authority, establish unwavering credibility, and nurture trust among customers. By seamlessly integrating digital PR into their holistic marketing strategy, Forex businesses unlock a surge in website traffic, generate valuable leads, and entice new customers.

This strategic positioning as industry frontrunners enables Forex companies to outshine rivals and achieve remarkable success within the dynamic digital landscape. Immerse yourself in the transformative impact of digital PR and propel your Forex business to unparalleled heights. For a competitive edge, consider the transformative partnership with a Forex Marketing Agency.

Link Building

In the Forex industry, link building emerges as a dynamic catalyst for lead generation, channeling qualified traffic from fellow Forex websites or related niches. These visitors showcase a strong interest in Forex solutions, enhancing their potential to evolve into valuable customers.

By seamlessly integrating link building into their comprehensive marketing strategy, Forex companies can position themselves as industry frontrunners, setting themselves apart within the fiercely competitive digital terrain. The accumulation of authoritative backlinks enhances the credibility of the Forex company, nurturing a positive reputation and fostering customer trust. Embrace the influential potential of link building to propel your Forex business to unprecedented heights and secure a competitive edge in the market.

In the Forex industry, effective marketing strategies unlock the gates to heightened website traffic. Securing a higher ranking in search results draws more organic clicks, attracting a focused audience actively seeking Forex solutions. This concentrated influx of traffic opens doors to valuable conversion opportunities and customer acquisition, as it comprises individuals genuinely intrigued by Forex offerings.

Within the realm of Forex marketing, marketing becomes an essential ingredient for triumphant marketing endeavors. It fuels sustainable expansion, amplifies online visibility, and empowers Forex businesses to flourish in the digital era. Delegating your marketing efforts to a Forex Marketing Agency proficiently bridges these businesses with their target audience, assuming a pivotal role in nurturing their triumph. By distinguishing themselves and gaining a competitive advantage in the dynamic digital landscape, Forex companies elevate their standing and steer toward noteworthy accomplishments.

International SEO

Through International Marketing, enterprises in the Forex industry can traverse boundaries and surmount language barriers, unveiling fresh growth prospects on a global scale. The strategic deployment of customized marketing strategies across diverse regions guarantees that businesses connect with the appropriate audience precisely when needed, cementing their stature in the international market. Embrace the potential of International Marketing to broaden your horizons and flourish amidst the perpetually evolving global panorama.

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The 6 best B2B travel agencies in 2024

What is a b2b travel agency.

• travel agencies that help manage business travel for corporate clients, or
• B2B travel services that help travel companies manage white-label bookings and inventory on their own booking platform.

The best B2B travel agencies for companies

1. travelperk.

• One of the largest corporate travel inventories available . Plus, competitive pricing lets your team get great prices on every booking.
• Pay only when you travel —no hidden fees or installment fees.
• Real-time reporting and consolidated invoicing for easy expense reports.
• FlexiPerk solution gives you freedom to change or cancel bookings as needed, without losing your money.
• The most comprehensive VAT recovery solution , letting you save up to 20% of your total travel spend (not to mention hours of admin time).
• 24/7 customer service , with the majority of calls answered within 15 seconds.
• G2 rating : 4.5 / 5, based on 1,533 reviews (as of February 2024)
• Capterra rating : 4.8 / 5, based on 402 reviews (as of February 2024)

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2. bcd travel.

• Wide range of travel-related services , from flight bookings to visa entry requirements.
• 24/7 customer support .
• Compatible with 20+ OBT solutions to integrate with your pre-existing solutions.
• Updated and cleaned program data available to your dashboards in 90 minutes or less.
• Spend management solutions allow you to process payments and invoices according to your travel policies.
• DecisionSource helps you make smarter decisions with business insights and travel data analysis.
• G2 rating : no data available
• Capterra rating : no data available

Click below for a more detailed comparison between both platforms

3. sap concur.

• All-in-one booking platform that lets employees self-book flights, trains, hotels, and car rentals.
• Admin dashboards allow managers to see all travel arrangements and booking data in one place.
• TripLink brings in travel bookings from external platforms so you can manage all of your employee travel data.
• Integrations with Concur Expense and Concur Invoice helps manage spend and automates expense processing and cut invoicing time.
• G2 rating : 4 / 5 stars, based on 5,996 reviews (as of February 2024)
• Capterra rating : 4.3 / 5 stars, based on 2,004 reviews (as of February 2024)

4. FCM Travel

• Customizable and scalable travel management based on your team’s needs.
• FCM’s Online Booking Tool allows you to customize policies based on department or traveler to manage spend and other requirements.
• FCM Reporting, powered by Microsoft Power BI tools, offers reporting and AI-assisted data analysis .
• Dedicated account management and advising to improve your travel program and policies.
• G2 rating : 5 / 5 stars, based on 1 review, as of February 2024

The best B2B companies for travel agencies

1. b2b travel group.

• Over 120,000 hotels and apartments worldwide so you can offer an extensive selection to your clients.
• Last-minute availability makes accommodating clients—or changing travel plans—easier.
• Intuitive booking platform designed by travel agents makes your day-to-day easier and more efficient.
• Real availability and instant booking confirmations keep your clients covered on the go.

2. TBO Holidays

• Extensive product suite allows you to offer more options and the best deals for your clients.
• All-access membership gives your company access to more than 700,000 global properties, plus sightseeing tours, holiday packages and more.
• Free registration gets you up and running quickly.
• Control your own markups for custom commissions and increased profitability.
• Support for all regional currencies allows you to quote rates—and accept payments—for currencies of your choice.
• Branded hotel vouchers help you maximize recognition with your clients.

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• See our platform in action . Trusted by thousands of companies worldwide, TravelPerk makes business travel simpler to manage with more flexibility, full control of spending with easy reporting, and options to offset your carbon footprint.
• Find hundreds of resources on all things business travel, from tips on traveling more sustainably, to advice on setting up a business travel policy, and managing your expenses. Our latest e-books and blog posts have you covered.
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Best Brokers for Forex Day Trading of 2024

Written by Steven Hatzakis Fact-checked by Joey Shadeck Edited by Jeff Anberg

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test .

Forex day trading is a strategy in which traders open and close currency-trading positions within the same day. Day trading creates unique demands on forex traders and the brokers that carry out day trading strategies. Choosing the right broker for your strategy can be the difference between success and failure.

Over the past 25 years, I've day traded millions of dollars in volume across various asset classes, including forex, using both manual and algorithmic day trading strategies. In this guide, I'll explain some of the nuances of forex day trading and help you choose the best broker for your forex day trading strategy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% 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.

Which forex brokers can I open an account with?

Select your country of residency below to see which regulated forex brokers will accept you as a new customer for trading forex.

Best Brokers for forex day trading

• Interactive Brokers - Extensive selection of trading tools and markets
• IG - Integrated signals and trading from charts
• Saxo - Powerful platform suite for desktop, web, and mobile
• CMC Markets - Excellent pricing for active traders
• FOREX.com - Versatile platform suite that includes MetaTrader
• FXCM - Advanced platform features and tools
• Charles Schwab - Sophisticated charting tools

Extensive selection of trading tools and markets

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite. Read full review

• Robust platform for professional traders
• Wide range of global markets
• Thorough research offering
• Trader Workstation platform is likely too complicated for inexperienced traders

Integrated signals and trading from charts

IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets. Read full review

• Outstanding platforms and tools
• Over 19,000 tradeable instruments
• Competitive pricing
• No predefined layouts on the flagship web platform
• Limited product range on MT4

Powerful platform suite for desktop, web, and mobile

Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities. Read full review

• Flagship platform is top of the line
• Over 40,000 tradeable instruments
• Excellent customer service
• High minimum deposit

Excellent pricing for active traders

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments. Read full review

• Low trading costs
• Excellent web and mobile platforms
• Robust research materials
• Educational offering could be improved

Versatile platform suite that includes MetaTrader

FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader. Read full review

• Multiple high-quality platforms
• Excellent market research
• Wide range of markets
• Only about 600 instruments are available on the MT5 platform, compared to over 4,500 on non-MetaTrader platforms

Advanced platform features and tools

For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average. Read full review

• Excellent platforms and tools
• High-quality market research
• Pricing is slightly higher than industry average
• Narrow range of tradeable markets

Sophisticated charting tools

Charles Schwab is a highly trusted financial institution and multi-asset broker catering to U.S.-based and international forex traders. Schwab's award-winning thinkorswim platform offers over 70 tradeable currency pairs alongside impressive tools, research, and education. That said, the broker’s forex offering is still largely limited to what is available on thinkorswim. Read full review

• Outstanding platform in thinkorswim
• Thorough research offerings
• Excellent educational materials
• Does not offer copy trading
• Forex pricing is slightly higher than industry average

Extensive selection of trading tools and markets - Interactive Brokers

Interactive Brokers (IBKR) has long been a preferred choice for professionals and institutions - including day traders who trade for a living.

IBKR offers a vast selection of markets, tools, and customizations, including advanced order types, that are available within its platform across any device.

With its competitive commission rates and low average spreads, IBKR is a formidable broker in the forex market, or any other global market from within the same account, making it my number one choice in 2024 for day trading. For more information, take a look at my full Interactive Brokers review .

Integrated signals and trading from charts - IG

IG is an excellent choice for forex day trading, not only because it is our highest ranking broker in 2024 across numerous categories, but because day traders in particular will benefit from the innovative tools available when they are trading from the chart.

The IG platform allows you to quickly modify orders (speed is crucial when day trading). Your orders display as a line directly within a chart, which can be easily clicked, dragged, and moved to change an order. While this feature is offered by most of the brokers in this guide, IG's implementation of this functionality is excellent. Additionally, IG's integrated trading signals work in tandem with trading from within the chart.

Whether you need to force open trades for hedging or use advanced orders, IG’s web-based platform, mobile app, and L2 Dealer platform for Forex Direct account holders are superb choices. The MetaTrader platform is also available, alongside an extensive selection of forex pairs, CFDs, and other instruments including options, derivatives, and even cryptocurrency CFDs. For a deeper dive into their offerings, check out my full IG review .

Powerful platform suite - Saxo

Part of the Saxo Bank Group, Saxo is a highly trusted and established market leader for financial services and a well-rounded multi-asset broker for day trading forex across a huge selection of currency pairs.

The SaxoTraderPRO (desktop) and SaxoTraderGO (web and mobile) platforms are among my favorites, especially for day trading, as you have practically everything you need to focus on order management and market analysis.

Saxo also reduced its minimum deposit, making it easier to get started if you are on a tighter trading budget. Saxo ranks highly across many categories, including its platforms and high-quality market research, making it a great choice for day trading in 2024. Take a look at my full Saxo review for more details.

Comparison of the best brokers for forex day trading

Check out a side-by-side comparison between brokers of the categories most relevant to day trading based on our independent testing:

Note: Brokers listed in the above table rank best in class for Commissions & Fees.

How to choose the best forex broker for day trading

Choosing the right forex broker for day trading is one of the most important decisions you'll make for successful trading. It is a choice that will directly impact the ability to carry out your strategy and affect your trading conditions, including the account type, platforms, and available tools available to you.

First, the broker should be properly regulated and highly trusted to reduce your chances of dealing with a scam broker or one that could fail due to improper financial adequacy (i.e., they should be well capitalized). On each of our broker reviews , we provide a Trust Score to ensure you are well-informed about the broker’s regulatory status and financial background.

Second, a broker should offer the currency pairs you want to trade and provide fair trading conditions across their available account types. For example, a day trader should have full understanding of the type of order execution they will receive from their broker, such as knowing if they are a market maker or agency broker, and if its the best fit for their needs. Additionally, knowing whether a broker allows high-frequency trading , algo trading , or hedging can be essential for a day trader wishing to pursue a diverse range of strategies.

Finally, its trading platform suite should be conducive to your trading needs, including the available trading apps , tools and advanced order types that will best accommodate your strategy as a day trader. Many brokers offer sophisticated third-party trading platforms like MetaTrader , cTrader , or TradingView which can all be used for day trading depending on your preferences. Brokers who offer platforms that provide the detailed technical analysis necessary for these strategies, and allow you to execute them easily, take the lead for those seeking to day trade.

What are the best forex day trading strategies?

The only limit to a possible day trading strategy is that it must, of course, be short-term and fast-paced, with trades closing the same day. Some of the best forex trading strategies for day trading include automated indicator-based strategies, where a trading signal is generated to buy or sell based entirely on the state of one (or many) market indicators. Other more subjective strategies may use technical analysis involving trendlines and drawing tools or measuring market patterns using formulas like Pivot Points, Fibonacci Retracements, and Elliot Waves.

While the technical studies, analysis drawings, or measurements may help in determining when to enter and exit the market, proper position sizing is more dependent on your own goals and should be adjusted to your specific profit targets and appetite or tolerance for risk. In all cases, your strategy must factor in the trade size which will determine the pip value and is relevant for your stop-loss or limit order levels, if entered, and the general risk/reward ratio.

For an in-depth exploration of how to develop your own day trading strategy for forex, take a look at my full guide on how to start forex day trading .

When is the best time to day trade forex?

The best time to day trade forex depends on several factors that may be unique to you and the state of the market around the time of your analysis, including the currency pairs you want to trade, the time zone you are located in, and the current market conditions for the underlying currencies.

For example, if you are planning to trade the EUR/USD within the next ten minutes but there is a major upcoming economic news event from the U.S. Federal Reserve, that could be the worst time to trade given the potential for market volatility and price gaps, including widening spreads (depending on the broker).

On the other hand, focusing on specific forex market hours can be helpful if you want to focus on pairs that are active during a particular trading session, such as during the overlap of the London and New York trading sessions. Check out my forex market hours guide for a deeper dive into this topic.

What is the best forex day trading platform for beginners?

IG is my top choice in 2024 for beginners to day trading thanks to its wealth of educational materials and streamlined web platform and mobile app. IG’s web trading platform in particular is handy for newer day traders due to its excellent balance of advanced features that are easily accessible, such as trading from the chart and managing orders with the drag-to-modify feature.

IG also offers a commission-based account, Forex Direct, tailored especially for active traders routinely executing large orders. This account type delivers even more competitive pricing that could be beneficial as your trading volumes grow and you progress into a more advanced day trader.

Are there any fees for day trading forex?

Yes, there are always costs related to forex trading. Even if you are in and out of the market quickly while day trading and exit your trades before the rollover at the end of each trading day, you will still cross the spread or bid/ask prices on each trade, in addition to any per-trade commissions.

For example, even if you have a commission-free account, when you place an order to buy currency, the asking price will always be higher than the bidding price if you were to sell again at that exact moment. In other words, once your order to buy is executed at the asking price, the trade is already at a loss for the amount of the spread, which must be overcome to either break even or turn a profit.

For these reasons, it’s crucial to factor your trading costs into your strategy, especially for more cost-sensitive trading strategies. This will be true over time even on a so-called zero spread account since on average, after many trades, costs will still add up despite paying close to zero spreads.

ForexBrokers.com 2024 Overall Rankings

Now that you've seen our picks for the best forex brokers for day trading, check out the ForexBrokers.com Overall Rankings. We've evaluated over 60 forex brokers, using a testing methodology that's based on 100+ data-driven variables and thousands of data points. Check out our full-length, in-depth forex broker reviews .

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Popular forex broker reviews, methodology.

At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here ).

Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:

• For Apple , we use MacBook Pro laptops running macOS 12.5, and the iPhone XS running iOS 15.
• For Android , we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 12.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.

All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test .

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks .

About the Editorial Team

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

Jeff Anberg is a Staff Editor at ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.

Types of Travel Agents Around the World

• May 10, 2024

Travelling is one of life’s greatest pleasures. But planning the perfect trip can be a daunting task. This is where travel agents come in, offering their expertise to transform dreams into reality. Around the world, there are various types of travel agents, each specialising in different aspects of travel.

Whether it’s a corporate agent handling business trips, an adventure specialist crafting thrilling escapades or a luxury consultant designing opulent holidays, understanding the diverse roles of these professionals can help travellers find the perfect match for their needs.

Below, we embark on a journey to explore the myriad of travel agents that make exploring the world a seamless and enjoyable experience.

What is a travel agent?

For those of you confused about the different terminology in the world of travel, asking the question: “What is a travel agent?” is only natural. A travel agent is a professional who specialises in helping people make travel arrangements, including individuals, families and businesses.

They act as a go-to source for all travel needs, from booking flights and hotels to organising tours and excursions. Travel agents leverage their extensive knowledge and industry connections to provide personalised recommendations and exclusive deals that aren’t typically available to the general public. 

In today’s fast-paced world, the role of a travel agent has evolved significantly. While many people turn to the internet for DIY travel planning, the expertise of a travel agent can save time, money and stress.

For instance, if a traveller encounters unexpected issues such as flight cancellations or lost reservations, a travel agent can quickly resolve these problems, often securing better outcomes than if the traveller were to handle the situation alone.

One of the key benefits of using a travel agent is their ability to tailor trips to individual preferences and budgets. They take the time to understand their clients’ interests and requirements, ensuring every detail is perfectly arranged. Whether it’s a honeymoon in a tropical paradise, a business trip with tight schedules or a family vacation with diverse activities, travel agents craft itineraries that maximise enjoyment and minimise hassle.

Furthermore, travel agents keep abreast of the latest travel trends, safety advisories and destination-specific information, providing invaluable insights that enhance the travel experience.

They can suggest hidden gems and off-the-beaten-path adventures that may not be found in standard travel guides. Additionally, many travel agents specialise in niche markets, such as adventure travel, luxury travel or eco-friendly tourism, offering expert advice and curated experiences in these areas.

In short, a travel agent is more than just a booking facilitator. They are a trusted advisor who brings a wealth of knowledge and personalised service to the travel planning process by booking various aspects of a trip and assisting individuals or groups in planning their next trip.

What are the different types of travel agents?

Despite the popular belief that there is only one type of travel agent, there are many different types around the world. So, what are the different types of travel agents? Let’s take a closer look below:

High-street travel agents

High-street travel agents work for travel agencies that are often found in major retail centres and on high streets. Also referred to as multiple travel agents due to the fact they often have several brick-and-mortar branches around the country, these travel agents offer a broad range of services that include:

• Arranging transportation
• Reserving accommodation
• Offering tour packages
• Assisting with travel insurance, passports, visas and documentation
• Helping with refunds and cancellations

Internet travel agents or online travel agencies (OTAs)

There has been a tremendous rise in OTAs around the world, as these travel agents help people book their holidays using a combination of expertise and technology that offers travellers a great deal of convenience and choice.

So, what benefits do OTAs or call centre travel agents bring to the table? Firstly, they offer accessibility and convenience, without limitations to traditional work hours. They also have a vast selection of offerings, catering to a broad range of travel needs. OTAs also help travellers carry out price comparisons to ensure that they get the best deal. A further advantage is the ability for travellers to enjoy customised and flexible travel packages, perfect for their needs.

As a type of intermediary, internet travel agents act as a bridge between multiple service providers and travellers. They also negotiate better rates for their customers, passing on savings to them. And they can create a streamlined booking process through a single digital platform.

Business travel agents

Business travel agents and agencies focus on the specific needs of their corporate customers. These agents often need to navigate through a range of needs that require precision, efficiency and adaptability. By catering to their customers’ corporate travel needs, taking into consideration their fast-paced work and frequent levels of unpredictability, these travel agents can cater to businesses of all sizes while ensuring they remain within budget.

Some of the services that business travel agencies offer include:

• Fast bookings
• Discounted rates
• Crisis management
• Travel policy compliance
• Detailed reporting
• Traveller safety and security
• Visa and documentation support

Personal travel agents

And, of course, there are personal travel agents that can help individuals, families and groups have the perfect trip abroad. These professionals can transform travel aspirations into tangible itineraries. They also prioritise customer experiences and expectations by understanding individual needs and bringing forth extensive industry knowledge that their customers can benefit from. A personal travel agent can help with a broad range of travel-related aspects, including but not limited to:

• Customised holiday packages
• Detailed itinerary planning
• Creating specialised experiences
• Assisting with accommodation and transportation
• Adding special touches through local expertise
• Offering continuous support

Examples of some of the types of travel that travellers can enjoy include ecotourism, wellness tourism, cultural tourism, adventure tourism and culinary tourism, among others. So, now that you know what are the different types of travel agents, let’s explore if travel agents are the same as travel consultants.

Are travel agents and travel consultants the same?

While there may be differences in the words used to describe travel agents and travel consultants, they essentially carry out the same roles. While both plan and book holidays, personal travel agents, such as Not Just Travel consultants, tend to work outside of the more typical 9-to-5 office hour slots and can offer a more personal service. 

While some mainstream travel agents will just book a package, some personal consultants offer added value. For instance, some may check-in for your flights, some might reserve a restaurant for clients and more. They might also drop you a message in the resort to check everything is okay and when you return and not even charge for the service.

So, when it comes to the question: are travel agents and travel consultants the same, the answer may appear similar at first glance but there are some differences worth keeping in mind.

Which type of travel agent suits you?

Now that you know that a travel agent assists people in choosing the right holiday and sources the best holiday for them, you may be wondering which type of travel agent you feel will suit you best.

The answer will depend on a few important factors. These include:

• Do you want to work for someone or for yourself?
• Do you want to work in an office or be flexible and work from home?
• Would you prefer to be affiliated with a franchise or a travel company?
• Do you want a base set salary or are you happy to work off commission only?

It’s also important to distinguish between travel agents in the UK versus the US. For example, in the US, some agents charge for their time. Meanwhile, in the UK, most personal travel consultants work off commissions only. Also, high-street agents tend to work on a salary while some companies also give commission bonuses. 

Ultimately, the choice is yours and when making the decision for yourself, you should consider the factors that align with your personal and professional aspirations. At The Travel Franchise , you have the chance to start as a travel consultant that helps people book their dream holidays, while choosing to specialise in a niche area of the market, such as weddings and honeymoons.

It’s also possible to get started in business with The Travel Franchise. Through this opportunity, you’ll receive incredible levels of support and never feel that you’re navigating the world of travel on your own. Starting with The Travel Franchise is quick, easy and affordable. And with some of the industry’s highest commissions, you can truly become your own boss with the right attitude and approach that gives you the freedom and flexibility you have always dreamed of.

To explore The Travel Franchise opportunity and discover all the ways in which you can get started in the travel industry with your own profitable business, simply get in touch with us! Our friendly team is a quick call or message away , ready to assist you in every way we can.

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CBN Report Shows $9 Billion Drop in Forex Demand Over Past Year as Naira Struggles Against Dollar

• CBN's report has shown that importers' and other forex-related businesses' demand for forex plummeted by $9 billion
• The CBN's Forex allocations to sectors of the economy dropped from $29.98 billion in 2022 to $21.12 billion in 2023
• In spite of recent improvements in liquidity, the process of stabilizing the naira in the forex market is still ongoing

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Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the stock market.

The demand for foreign exchange by individuals and companies engaged in importation and other forex-related activities decreased by 42% year-on-year.

The total sectoral utilization of foreign exchange indicated that 19 sectors and services received $21.12 billion in forex allocations in 2023.

This amount represents a 41.9% decline, or $8.87 billion, compared to the $29.98 billion allocated in 2022.

CBN issues new directives on street trading of foreign currencies as naira falls

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These financial statistics were detailed in the Central Bank of Nigeria's quarterly report .

CBN Forex allocation

Forex allocation is the process by which the CBN distributes foreign exchange to different sectors of the economy , including individuals, businesses, and government agencies, based on specific criteria and priorities.

In June 2023, the CBN implemented a floating exchange rate system for the naira, merging all forex market segments.

This change resulted in a significant depreciation in the value of the naira, which declined from 471/$ to approximately 1,485/$ in the Investors and Exporters FX window.

Amid ongoing exchange rate volatility, the naira further weakened in the parallel market, reaching 1,400/$ last week.

The narrowing gap between the official and parallel markets has forced importers to reduce their forex demand for goods and raw materials, impacting manufacturing, healthcare, education, and travel sectors.

Naira reverses gain after 4-day winning streak, crashes in official and parallel markets

Financial experts have also suggested that this situation may reflect the central bank's forex liquidity shortage, causing dollar buyers to seek alternatives in the parallel market.

Uzo Umunna, a financial analyst, told Legit.ng that Nigeria experienced a decline in forex demand due to several factors.

"The CBN policies aimed at stabilizing the naira, such as reducing forex allocations to importers and implementing stringent currency controls, have curbed demand.

"Additionally, a decrease in import activities driven by higher local production and a push for self-sufficiency has lessened the need for foreign currencies."

He added that the economic impacts of fluctuating oil prices also contribute to this decline, as businesses and individuals adjust their spending and investment strategies in response to the economic uncertainties.

Despite recent improvements in liquidity that have addressed all FX backlogs , the process of stabilizing the naira in the exchange market is still ongoing and has not yet been fully achieved.

Naira exchanges dollar at new rate after CBN makes changes to interest rate, others

Expert speaks on solutions to naira volatility

In related news, Legit.ng reported that Muda Yusuf, an economist, has advocated for a reduction in market volatility .

In his view, when dealing with foreign exchange, volatility encourages speculation and fuels unpredictability.

Y us uf said this while responding to the volatility in the forex market, which has caused the Nigerian naira's value to fluctuate upward and downward in relation to the US dollar.

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Source: Legit.ng

Victor Enengedi (Business HOD) Victor Enengedi is a trained journalist with over a decade of experience in both print and online media platforms. He holds a degree in History and Diplomatic Studies from Olabisi Onabanjo University, Ogun State. An AFP-certified journalist, he functions as the Head of the Business Desk at Legit. He has also worked as Head of Editorial Operations at Nairametrics. He can be reached via [email protected] and +2348063274521.

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UAE visit visa: Overstaying, absconding visitors cause fines, penalties for travel agencies

Some visitors unintentionally stay back for longer, unaware that the 10-day grace period has been removed.

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Visit visa holders who overstay their permitted duration and break the rules cause travel agencies to incur fines and face operational challenges, travel executives have said.

According to the agencies, cases of visitors overstaying and absconding have compelled authorities to implement stricter entry regulations at Dubai Airports. When a case of an absconder is filed against a visitor, it results in financial and operational challenges for them.

No more grace period

One of the primary reasons for visitors overstaying is a misunderstanding on the visa grace period. “Many visitors believe they have a 10-day grace period to stay beyond their visa's expiry date. However, this grace period was removed last year, leading to unintentional overstays. They are in denial and we regularly inform them that there is no grace period,” said Firoz Maliyakkal, founder and CEO of Tahira Tours and Travels.

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Sudden financial complications can also play a critical role. “Some visitors face unexpected financial difficulties during their stay, making it very difficult for them to return home on time,” said Libin Varghese from Rooh Travel and Tourism.

“Additionally, the charm of Dubai and the UAE's diverse attractions entices visitors to extend their stay and explore without considering the legal repercussions,” added Varghese.

Another common reason for absconding visitors is job hunting after being captivated by Dubai’s lifestyle. “Visitors, captivated by Dubai's opportunities, apply for jobs and wait for interview calls, neglecting their visa status. They often overstay hoping for employment, which places them in a legal situation,” said Firoz.

Delayed interview call

Bilal Abbas, who had arrived in Dubai in February to visit his relatives, recounted his experience. He said: “During my visit, I learned of a job opening in a friend's company. I decided to apply and surprisingly got called in for an interview. I was thrilled but completely forgot about my visa expiry date, just three days before the second interview.”

Despite overstaying for nearly 8 days, Abbas managed to secure a job. “I had to pay around Dh1,000 in fines when I exited the country. Fortunately, I obtained residency status on March 28 and returned to the UAE.”

Penalties for travel agent

According to travel agents, such actions have severe consequences. “When a visitor doesn’t report to us after visa expiry, the travel agency that facilitated their visa faces substantial fines and penalties,” said Firoz.

Travel agencies must pay a fine of Dh2,500 to authorities for each absconding case. “Additionally, the agency's visa quota is reduced, affecting our ability to operate efficiently and invite more people to the UAE,” said Varghese.

Dh2,000 absconding fine

According to industry experts, visitors who overstay illegally face hefty fines and to withdraw an absconding case; one has to go through a series of processes. “Absconding visitors can get the status removed by paying a minimum Dh2,000 fine, along with penalties for the overstay and additional administration and exit fees,” said Firoz. He added that these expenses can become overwhelming for both parties – visitors and travel agencies.

However, visitors should be aware that the minimum fine of Dh2,000 can increase to Dh5,000 when additional fees payable to authorities are included.

Travel agents are urging visitors to be aware of the legal implications of overstaying their visas. “Dubai remains an attractive destination for visitors, it is crucial for travellers to respect the visa regulations and avoid overstaying. Proper planning and adherence to visa regulations are essential to avoid legal complications and financial penalties," said Firoz.

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World's first wooden satellite built by Japan researchers

It will be sent into space on a SpaceX rocket from the Kennedy Space Center in September

Tokyo: The world's first wooden satellite has been built by Japanese researchers who said their tiny cuboid craft will be blasted off on a SpaceX rocket in September.

Each side of the experimental satellite developed by scientists at Kyoto University and logging company Sumitomo Forestry measures just 10 centimetres (four inches).

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The creators expect the wooden material will burn up completely when the device re-enters the atmosphere - potentially providing a way to avoid the generation of metal particles when a retired satellite returns to Earth.

These metal particles could have a negative impact on the environment and telecommunications, the developers said as they announced the satellite's completion on Tuesday.

"Satellites that are not made of metal should become mainstream," Takao Doi, an astronaut and special professor at Kyoto University, told a press conference.

The developers plan to hand the satellite, made from magnolia wood and named LignoSat, to space agency JAXA next week.

It will be sent into space on a SpaceX rocket from the Kennedy Space Center in September, bound for the International Space Station (ISS), they said.

From there, the satellite will be released from the Japanese ISS experiment module to test its strength and durability.

"Data will be sent from the satellite to researchers who can check for signs of strain and whether the satellite can withstand huge changes in temperature," a Sumitomo Forestry spokeswoman told AFP on Wednesday.

Also on Tuesday, a rocket carrying a separate sophisticated satellite - a collaboration between the European Space Agency (ESA) and JAXA - blasted off from California on a mission to investigate what role clouds could play in the fight against climate change.

The EarthCARE satellite will orbit nearly 400 kilometres (250 miles) above Earth for three years.

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Rusmania • Deep into Russia

Out of the Centre

Savvino-storozhevsky monastery and museum.

Zvenigorod's most famous sight is the Savvino-Storozhevsky Monastery, which was founded in 1398 by the monk Savva from the Troitse-Sergieva Lavra, at the invitation and with the support of Prince Yury Dmitrievich of Zvenigorod. Savva was later canonised as St Sabbas (Savva) of Storozhev. The monastery late flourished under the reign of Tsar Alexis, who chose the monastery as his family church and often went on pilgrimage there and made lots of donations to it. Most of the monastery’s buildings date from this time. The monastery is heavily fortified with thick walls and six towers, the most impressive of which is the Krasny Tower which also serves as the eastern entrance. The monastery was closed in 1918 and only reopened in 1995. In 1998 Patriarch Alexius II took part in a service to return the relics of St Sabbas to the monastery. Today the monastery has the status of a stauropegic monastery, which is second in status to a lavra. In addition to being a working monastery, it also holds the Zvenigorod Historical, Architectural and Art Museum.

Belfry and Neighbouring Churches

Located near the main entrance is the monastery's belfry which is perhaps the calling card of the monastery due to its uniqueness. It was built in the 1650s and the St Sergius of Radonezh’s Church was opened on the middle tier in the mid-17th century, although it was originally dedicated to the Trinity. The belfry's 35-tonne Great Bladgovestny Bell fell in 1941 and was only restored and returned in 2003. Attached to the belfry is a large refectory and the Transfiguration Church, both of which were built on the orders of Tsar Alexis in the 1650s.  

To the left of the belfry is another, smaller, refectory which is attached to the Trinity Gate-Church, which was also constructed in the 1650s on the orders of Tsar Alexis who made it his own family church. The church is elaborately decorated with colourful trims and underneath the archway is a beautiful 19th century fresco.

Nativity of Virgin Mary Cathedral

The Nativity of Virgin Mary Cathedral is the oldest building in the monastery and among the oldest buildings in the Moscow Region. It was built between 1404 and 1405 during the lifetime of St Sabbas and using the funds of Prince Yury of Zvenigorod. The white-stone cathedral is a standard four-pillar design with a single golden dome. After the death of St Sabbas he was interred in the cathedral and a new altar dedicated to him was added.

Under the reign of Tsar Alexis the cathedral was decorated with frescoes by Stepan Ryazanets, some of which remain today. Tsar Alexis also presented the cathedral with a five-tier iconostasis, the top row of icons have been preserved.

Tsaritsa's Chambers

The Nativity of Virgin Mary Cathedral is located between the Tsaritsa's Chambers of the left and the Palace of Tsar Alexis on the right. The Tsaritsa's Chambers were built in the mid-17th century for the wife of Tsar Alexey - Tsaritsa Maria Ilinichna Miloskavskaya. The design of the building is influenced by the ancient Russian architectural style. Is prettier than the Tsar's chambers opposite, being red in colour with elaborately decorated window frames and entrance.

At present the Tsaritsa's Chambers houses the Zvenigorod Historical, Architectural and Art Museum. Among its displays is an accurate recreation of the interior of a noble lady's chambers including furniture, decorations and a decorated tiled oven, and an exhibition on the history of Zvenigorod and the monastery.

Palace of Tsar Alexis

The Palace of Tsar Alexis was built in the 1650s and is now one of the best surviving examples of non-religious architecture of that era. It was built especially for Tsar Alexis who often visited the monastery on religious pilgrimages. Its most striking feature is its pretty row of nine chimney spouts which resemble towers.

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The Unique Burial of a Child of Early Scythian Time at the Cemetery of Saryg-Bulun (Tuva)

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Pages:  379-406

In 1988, the Tuvan Archaeological Expedition (led by M. E. Kilunovskaya and V. A. Semenov) discovered a unique burial of the early Iron Age at Saryg-Bulun in Central Tuva. There are two burial mounds of the Aldy-Bel culture dated by 7th century BC. Within the barrows, which adjoined one another, forming a figure-of-eight, there were discovered 7 burials, from which a representative collection of artifacts was recovered. Burial 5 was the most unique, it was found in a coffin made of a larch trunk, with a tightly closed lid. Due to the preservative properties of larch and lack of air access, the coffin contained a well-preserved mummy of a child with an accompanying set of grave goods. The interred individual retained the skin on his face and had a leather headdress painted with red pigment and a coat, sewn from jerboa fur. The coat was belted with a leather belt with bronze ornaments and buckles. Besides that, a leather quiver with arrows with the shafts decorated with painted ornaments, fully preserved battle pick and a bow were buried in the coffin. Unexpectedly, the full-genomic analysis, showed that the individual was female. This fact opens a new aspect in the study of the social history of the Scythian society and perhaps brings us back to the myth of the Amazons, discussed by Herodotus. Of course, this discovery is unique in its preservation for the Scythian culture of Tuva and requires careful study and conservation.

Keywords: Tuva, Early Iron Age, early Scythian period, Aldy-Bel culture, barrow, burial in the coffin, mummy, full genome sequencing, aDNA

Information about authors: Marina Kilunovskaya (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Vladimir Semenov (Saint Petersburg, Russian Federation). Candidate of Historical Sciences. Institute for the History of Material Culture of the Russian Academy of Sciences. Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail: [email protected] Varvara Busova  (Moscow, Russian Federation).  (Saint Petersburg, Russian Federation). Institute for the History of Material Culture of the Russian Academy of Sciences.  Dvortsovaya Emb., 18, Saint Petersburg, 191186, Russian Federation E-mail:  [email protected] Kharis Mustafin  (Moscow, Russian Federation). Candidate of Technical Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Irina Alborova  (Moscow, Russian Federation). Candidate of Biological Sciences. Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected] Alina Matzvai  (Moscow, Russian Federation). Moscow Institute of Physics and Technology.  Institutsky Lane, 9, Dolgoprudny, 141701, Moscow Oblast, Russian Federation E-mail:  [email protected]

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