We found 11 online brokers that are appropriate for Trading Forex.
In this article, we to provide some tips on how to discover the best broker for Forex trading.
Below are some benchmarks to be followed to discover the best broker for Forex trading:
Discussing the fees being charged is important while selecting one of the best Forex brokers. This could differ from one broker to the next. Some may not even charge although hidden fees could creep in after signing a deal. In addition, it is necessary to know if there are any charges for withdrawal and inactivity.
It is important to know whether the broker would allow trading in the preferred Forex pair.
Knowing the minimum deposit is important. It is more important for newer traders as they may not be able to afford a larger amount. A high deposit may also mean a higher loss, thus it is beneficial to start with a smaller capital.
Trading platforms play important role in getting success in Forex trading. Popular platforms come with various tools and features that are like primary weapons for traders in making a profit. The best broker for Forex trading always offers the most famous trading platform. Moreover, it is suggested to also find out if the platform can be used on smartphones other than just computers and laptops.
This is an era of mobile technology and almost all the functions of computing can be accessed on the tiny device. Hence, it is important to find such a broker who can offer mobile trading apps and whether these can be just like the web version of the same.
The deposits and withdrawals should not be expensive. Both should be smooth and readily supported by the broker.
Reputation is one of the best metrics to judge a broker. If a broker is well regarded by its customers and regulators, it means they are good.
The Forex broker needs to be well regulated. The financial regulatory framework can help to settle any issues between a trader and a broker. The regulatory authorities attempt to keep traders safe and secure.
Some of the popular regulatory authorities are:
A good and sound customer support makes a Forex broker stand out. The customer support team should help traders at every stage, from opening an account to final withdrawals of the profits.
All the traders who are searching for the best broker for Forex trading are suggested to learn about the past performances of the brokerage. A decent history and background mean the broker is good and can help you better when trading.
Learning again and again even if one has good knowledge about Forex trading is only a positive. Many brokers try to educate their clients through tools on their apps and websites.
All the possible payment methods are not accepted by all the brokers and hence it is important to know this before striking a deal. The most common payment methods include bank wire, MasterCard, Visa, Neteller and Skrill. Even though lately, many have started accepting payments via PayPal, it is rare. The best brokers continually update this information on their website to avoid any misunderstanding.
It is suggested to start trading with a trading account that comes with virtual money and experience trading. If the practice is over, one can exchange via a live account with real money.
Many traders prefer leverage in Forex trading. This helps speculators earn more profit by funding a portion of the entire trade volume. However, it is good to note that with leverage losses are also magnified. Different brokers offer different rates of leverage. Traders are suggested to find this out and understand the risks before trading.
When finding the best broker for Forex trading it is important to learn about security. All regulated Forex brokers provide complete security to traders with respect to the privacy of data, money invested and so on.
A good broker can help in earning more profit. A bad broker may not be serious about making clients earn profit. Hence, one must always try to strike a deal with the best broker for Forex trading.
We've collected thousands of datapoints and written a guide to help you find the best Best Broker for Forex Trading for you. Our aim is that this information helps you choose a trustworthy, reputable and professional broker who can satisfy your trading needs online. We have compiled a list of what we consider the best Forex below.
There are a number of important factors to consider when picking an online Forex trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Forex.
Compare Forex min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Forex. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Forex that accept Forex clients
Broker |
IC Markets
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eToro
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Roboforex
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AvaTrade
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XTB
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Pepperstone
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XM
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FP Markets
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Trading212
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Plus500
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EasyMarkets
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Rating | |||||||||||
Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546, Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039), Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in capital markets products (License No. CMS100648-1), PLUS500AU (PTY) LTD is regulated by the FSCA (Financial Sector Conduct Authority), Plus500 adheres to MiFID rules | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) |
Min Deposit | 200 | 10 | 1 | 100 | No minimum deposit | 200 | 5 | 100 | 1 | 100 | 100 |
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Used By | 180,000+ | 27,000,000+ | 10,000+ | 300,000+ | 250,000+ | 89,000+ | 3,500,000+ | 10,000+ | 15,000,000+ | 15,500+ | 142,500+ |
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Platforms | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps |
Support |
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Learn More |
Sign
Up with icmarkets |
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Up with etoro |
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Up with roboforex |
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Up with avatrade |
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Up with xtb |
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Up with pepperstone |
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Up with xm |
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Up with fpmarkets |
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Up with trading212 |
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Up with plus500 |
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Up with easymarkets |
Risk Warning | Losses can exceed deposits | 68% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 71% of retail investor accounts lose money when trading CFDs with this provider | 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 74-89 % of retail investor accounts lose money when trading CFDs | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | Your capital is at risk |
Demo |
IC Markets Demo |
eToro Demo |
Roboforex Demo |
AvaTrade Demo |
XTB Demo |
Pepperstone Demo |
XM Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
easyMarkets Demo |
Excluded Countries | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, PY, HN, GT, PR, NI, VG, AN, | US, JP | BE, BR, KP, NZ, TR, US, CA, SG | US, IN, PK, BD, NG , ID, BE, AU | AF, AS, AQ, AR, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, UY, VU, VG, EH, YE, ZW | US, CA, IL, KR, IR, MM, CU, SD, SY | US, JP, NZ | US, CA | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | US |
You can compare Forex ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Forex for 2022 article further below. You can see it now by clicking here
We have listed top Forex below.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.