We found 11 online brokers that are appropriate for Trading Forex.
For traders who have been active with Forex trading know that the Forex market brings both advantages and disadvantages for them.
This is for those, who study Forex trading well enough, and maybe have experience of trading in Forex if even for just a short period.
For beginners, it is very important to understand that they will not only get the benefits of Forex trading unless you take the time to learn and understand the Forex markets and your Forex trading platform research tools. Forex traders need to be aware of possible unfavourable conditions and how to spot them.
To decide whether it is an appropriate market for you, or is it worth investing in Forex, then you need to know both sides of Forex trading, the good and the bad.
In this article we share the benefits as well as the cons of Forex trading so that you can make a more informed decision on your own.
There are so many lucrative and attractive advantages of Forex trading, but many people do not know them in detail. Here is the list of important points when it comes to dealing with Forex trading related activities:
For people who are investing in Forex trading they must always have very easy access to their Forex platform and the Forex markets.
It should take no more than three days to set up and verify your online Forex trading account.
Check that your Forex broker offers real-time pricing.
Forex trading can fit into your schedule very easily because there is always a Forex market open all week for 24 hours a day. This means that you can access and speculate on the Forex markets any time that you like, and chose to work on any day of the week.
All of us know that when we have access to leverage, then it is easy for us to access everything within Forex trading to deal with as per our requirements and investment strategy.
The Forex market has the most availability and access to leveraged trades. Depending on the level of investment you have experience with, and where you are operating from, brokers offer leverage. This may benefit you if you wish to trade leveraged Forex trades.
Be aware of the risks with leveraged trades. Leveraged that’s can be risky if the investment does not go in your favor. You may end up losing more than your deposited amount. Understand what you are doing before trading with leverage.
The commissions are usually higher when working with Forex trading. Also, there maybe instances where there is even some kind of hidden fee as well.
This is why trading through Forex trading can become expensive, but at the same time, trading Forex is much easier in terms of the Forex trading platforms being very mature and well designed. Also brokers with higher fees often offer extra trading services and tools to their clients.
Don’t be turned off by the costs, look at the credibility and reputation among clients of your broker and what you are getting for your fees. The main point is to check you are getting value for money.
Another aspect of Forex market prices is that sometimes the prices go down just because of a trend. This is actually an opportunity for new Forex traders who are able to take advantage from such selling or buying activities.
Tax calculations from any trading activity should be simple. This is possible only if the rules are straightforward and easy to follow. We see that many trading marketplaces have very complex rules regarding this option. However, in the case of Forex trading, they are simple and very easy.
You should always take advice of a tax professional in your local country, but your Forex trading platform should allow you to export all of your needed records to make the process easier.
A few things in Forex trading can make it difficult when navigating the volatility of the Forex markets. Trading Forex is never easy and straightforward all the time, and there will be factors that will prove to be challenging for you as the user of a Forex trading platform.
Every market in the world shows volatility, Forex trading is no different. Keep this in mind, and do not worry about this at all. Volatility is actually needed for short term trades like Forex.
Forex trading has lighter regulations when compare to some other types of investment. But Forex is still highly regulated. Check our Forex regulation table below to see which supervisory body oversees Forex in your country.
COUNTRY | FOREX REGULATOR |
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United Kingdom | Financial Conduct Authority (FCA) |
Australia | The Australian Securities and Investments Commission (ASIC) |
South Africa | The Financial Sector Conduct Authority (FSCA) |
Japan | The Financial Services Agency (FSA) |
Hong Kong | The Securities and Futures Commission (SFC) |
Singapore | The Monetary Authority of Singapore (MAS) |
Canada | The Investment Industry Regulatory Organization of Canada (IIROC) |
Cayman Islands | Cayman Islands Monetary Authority (CIMA) |
United States | The National Futures Association (NFA) Commodities Futures Trading Commission (CFTC) |
Forex trading is an easy, simple, and straightforward thanks to the many features of modern trading platforms.
Forex is the largest trading financial market used by people from all over the world.
Modern Forex brokers are regulated and have very robust and secure online Forex trading platforms and mobile apps. Forex trading can be done with complete security and safety. So, keep that in mind, choose the best Forex trading platform that matches your trading strategy.
We've collected thousands of datapoints and written a guide to help you find the best Forex Pros for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Forex below. You can go straight to the broker list here.
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 |
eToro
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IC Markets
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XTB
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FP Markets
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Roboforex
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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FXPrimus
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | 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) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | 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 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), 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 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) |
Min Deposit | 200 | 200 | No minimum deposit | 100 | 1 | 1 | 100 | 200 | 100 | 5 | 100 |
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Used By | 17,000,000+ | 60,000+ | 250,000+ | 10,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps |
Support |
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Learn More |
Sign
Up with etoro |
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Up with icmarkets |
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Up with xtb |
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Up with fpmarkets |
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Up with roboforex |
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Up with trading212 |
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Up with plus500 |
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Up with pepperstone |
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Up with easymarkets |
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Up with xm |
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Up with fxprimus |
Risk Warning | 71% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 82% 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 | 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. | 76.4% 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. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 | Your capital is at risk | Your capital is at risk | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
FP Markets Demo |
Roboforex Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, 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, US, PY, HN, GT, PR, NI, VG, AN, | 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 | US, IN, PK, BD, NG , ID, BE | US, JP, NZ | US, JP | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. |
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 2021 article further below. You can see it now by clicking here
We have listed top Forex below.