We found 11 online brokers that are appropriate for Trading Forex.
You've probably seen those Instagram profiles that make Forex trading look like an easy ticket to a luxurious life. Flashy cars, expensive clothes, and beachside mansions; these accounts promise you can achieve it all by trading Forex. But, before you dive in, it's essential to take these claims with a grain of salt.
The reality is, Forex trading isn't about getting rich overnight. Sure, there's potential for profit, but it comes with risks, requires a lot of knowledge, and demands consistent effort. For example, if you trade with a leverage of 100:1, a $1,000 deposit could control $100,000 worth of currency. While this could lead to a profit of $1,000 from a 1% move, the same 1% move against you could wipe out your entire deposit. To succeed, you need to master both technical analysis (like chart patterns and indicators) and fundamental analysis (such as economic news and geopolitical events). Plus, risk management is key.
Not all Forex profiles on Instagram are the real deal. Some of them are designed to mislead or scam you out of your money. Here are some common tactics to watch out for:
Pump and Dump Schemes: This is where scammers manipulate the price of an asset, spread rumors, or coordinate buying to artificially inflate its value. For instance, they may promote a currency pair to hit a 5% rise before dumping their positions, leaving others to absorb the losses.
Pyramid Schemes: These rely on recruiting new members who pay to join, with promises that you'll make money by recruiting others. Eventually, most participants lose money because the model depends on a constant flow of new recruits.
High-Pressure Sales Tactics: These are aggressive sales techniques aimed at making you rush into decisions without considering the risks. For example, they may promise a 'limited-time' offer to join a $500 trading program with 'guaranteed' returns, which is often a red flag.
Forex trading scams have proliferated on Instagram, with fraudsters exploiting the platform's vast user base to entice unsuspecting investors. These schemes often showcase extravagant lifestyles and promise guaranteed profits to lure victims. Below are documented cases where Instagram played a pivotal role in Forex trading scams:
In May 2024, the UK's Financial Conduct Authority (FCA) charged nine individuals, including reality TV personalities, for promoting an unauthorized Forex trading scheme via Instagram. The accused allegedly used the Instagram account @holly_fxtrends to advise on buying and selling contracts for difference (CFDs) without proper authorization. Prominent figures such as Lauren Goodger and Scott Timlin were implicated for endorsing the scheme to their followers.
For detailed information, refer to the FCA's official press release.
In October 2024, Natthamon 'Nutty' Khongchak, a Thai YouTuber, was arrested in Indonesia after fleeing Thailand. She was accused of defrauding approximately 6,000 victims out of £47 million through a fraudulent Forex trading scheme promoted on social media platforms, including Instagram. Khongchak showcased a lavish lifestyle to attract investors, promising high returns that never materialized.
More details can be found in this news article.
Ramon Olorunwa Abbas, known as 'Hushpuppi,' was a Nigerian Instagram influencer who flaunted a luxurious lifestyle to perpetrate extensive fraud schemes. He was arrested in June 2020 for conspiring to launder hundreds of millions of dollars through cybercrime activities, including business email compromise frauds. Hushpuppi used his Instagram presence to legitimize his wealth and lure victims into various scams.
Additional information is available on his Wikipedia page.
When I’m navigating Instagram for Forex opportunities, I take precautions to protect myself from scams:
By staying alert and informed, I make sure I don’t fall for fraudulent schemes that could put my finances at risk.
If I’m promoting Forex-related content on Instagram, I stick to ethical practices to build trust and credibility:
Disclose Affiliations: I make sure to let my followers know if I’m sharing affiliate links or sponsored content. Transparency is key.
Avoid Misleading Claims: I’m honest about the risks and complexities of Forex trading. I know it’s not a quick way to make money, and I make that clear.
Prioritize My Audience’s Best Interests: I understand that my followers trust me for guidance, so I never lead them into scams or unsafe trading practices.
Building a real Forex trading career on Instagram is a marathon, not a sprint. Focus on providing valuable, educational content, and stay transparent with your audience. For example, share how $1,000 invested in a low-risk strategy could yield a steady 10% annual return rather than promising unrealistic overnight profits. With time, consistency, and dedication, you can establish yourself as a trusted source in the Forex trading community, helping others learn and grow while building your own success.
To get started, I first explored What Is Forex, which helped me grasp the fundamentals of currency trading. I also found the History Of Forex fascinating, as it highlights how this market has evolved into the global trading powerhouse it is today.
When it came to finding a reliable broker, I referred to this Forex Brokers guide to compare the best options. Understanding the features and fees of various platforms made it easier to choose one that suited my needs. Additionally, learning about Forex trading tools, such as the Forex Trading Software, helped me understand the technology behind successful trading strategies.
Since social media often portrays Forex as a fast path to wealth, I made sure to study Learn Forex resources. These taught me about the risks and complexities of trading, ensuring I had a realistic perspective. Opening my first account was simple with this guide: Open A Forex Account.
On Instagram, I noticed frequent mentions of hedging strategies. To dive deeper, I explored Hedging Forex and Forex Hedging. This gave me insights into managing risks effectively while trading. I also paid attention to market sentiment, which I learned more about through Forex Sentiment.
As someone active on Instagram, I also wanted to ensure I used the best trading tools. The list of Best Forex Trading Apps provided me with mobile solutions that make it easy to trade on the go. I also learned the importance of using demo accounts and simulators, such as the Forex Trading Demo Account and Forex Simulator, to practice strategies before investing real money.
By engaging with Forex content on Instagram, I’m aware of the risks of misinformation. To stay safe, I research thoroughly and use reliable resources like those above. Trading Forex on social media can be rewarding if I remain cautious and informed.
We have conducted extensive research and analysis on over multiple data points on Forex Trading Instagram to present you with a comprehensive guide that can help you find the most suitable Forex Trading Instagram. Below we shortlist what we think are the best Forex after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Forex Trading Instagram.
Selecting a reliable and reputable online Forex trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Forex more confidently.
Selecting the right online Forex trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for Forex trading, it's essential to compare the different options available to you. Our Forex brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a Forex broker that best suits your needs and preferences for Forex. Our Forex broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Forex.
Compare Forex brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Forex broker, it's crucial to compare several factors to choose the right one for your Forex needs. Our comparison tool allows you to compare the essential features 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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Roboforex
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eToro
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XTB
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XM
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Pepperstone
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AvaTrade
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FP Markets
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EasyMarkets
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SpreadEx
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FXPro
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Regulation | Seychelles Financial Services Authority (FSA) (SD018) | RoboForex Lid is regulated by Belize FSC, License No. 000138/7, reg. number 000001272. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC) (000261/4) XM ZA (Pty) Ltd, Cyprus Securities and Exchange Commission (CySEC) (license 120/10) Trading Point of Financial Instruments Ltd, Australian Securities and Investments Commission (ASIC) (number 443670) Trading Point of Financial Instruments Pty Ltd | 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 | Australian Securities and Investments Commission (ASIC) Ava Capital Markets Australia Pty Ltd (406684), South African Financial Sector Conduct Authority (FSCA) Ava Capital Markets Pty Ltd (45984), Financial Services Agency (Japan FSA) Ava Trade Japan K.K. (1662), Financial Futures Association of Japan (FFAJ),, FFAJ, Abu Dhabi Global Markets (ADGM)(190018) Ava Trade Middle East Ltd (190018), Polish Financial Supervision Authority (KNF) AVA Trade EU Ltd, Central Bank of Ireland (C53877) AVA Trade EU Ltd, British Virgin Islands Financial Services Commission (BVI) BVI (SIBA/L/13/1049), Israel Securities Association (ISA) (514666577) ATrade Ltd, Financial Regulatory Services Authority (FRSA) | CySEC (Cyprus Securities and Exchange Commission) (371/18), ASIC AFS (Australian Securities and Investments Commission) (286354), FSP (Financial Sector Conduct Authority in South Africa) (50926), Financial Services Authority Seychelles (FSA) (130) | Cyprus Securities and Exchange Commission (CySEC) (079/07) Easy Forex Trading Ltd, Australian Securities and Investments Commission (ASIC) (Easy Markets Pty Ltd 246566), British Virgin Islands Financial Services Commission (BVI) EF Worldwide Ltd (SIBA/L/20/1135), Financial Sector Conduct Authority South Africa (FSA) EF Worldwide (PTY) Ltd (54018), FSC (Financial Services Commission) (SIBA/L/20/1135), FSCA (Financial Sector Conduct Authority) (54018) | FCA (Financial Conduct Authority) (190941), Gambling Commission (Great Britain) (8835) | FCA (Financial Conduct Authority) (509956), CySEC (Cyprus Securities and Exchange Commission) (078/07), FSCA (Financial Sector Conduct Authority) (45052), SCB (Securities Commission of The Bahamas) (SIA-F184), FSA (Financial Services Authority of Seychelles) (SD120) |
Min Deposit | 200 | 10 | 50 | No minimum deposit | 5 | No minimum deposit | 100 | 100 | 25 | No minimum deposit | 100 |
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Used By | 200,000+ | 730,000+ | 35,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 400,000+ | 200,000+ | 250,000+ | 60,000+ | 7,800,000+ |
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Platforms | MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central | MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows | eToro Trading App, Mobile Apps, iOS (App Store), Android (Google Play), CopyTrading, Web | MT4, Mirror Trader, Web Trader, Tablet, Mobile Apps, iOS (App Store), Android (Google Play) | MT5, MT5 WebTrader, XM Apple App for iPhone, XM App for Android Google Play, Tablet: MT5 for iPad, MT5 for Android Google Play, XM App for iPad, XM App for iOS (App Store), Android (Google Play), Mobile Apps | MT4, MT5, cTrader,WebTrader, TradingView, Windows, Mobile Apps, iOS (App Store), Android (Google Play) | MT4, MT5, Web Trading, AvaTrade App, AvaOptions, Mac Trading, AvaSocial, Mobile Apps, iOS (App Store), Android (Google Play) | MT4, MT5, TradingView, cTrader, WebTrader, Mobile Trader, Mobile Apps, iOS (App Store), Android (Google Play) | easyMarkets App, Mobile Apps, iOS (App Store), Android (Google Play), Web Platform, TradingView, MT4, MT5 | Web, Mobile Apps, iOS (App Store), Android (Google Play), iPad App, iPhone App, TradingView | MT4, MT5, cTrader, FxPro WebTrader, FxPro Mobile Apps, iOS (App Store), Android (Google Play) |
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Learn More |
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Up with xtb |
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Up with xm |
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Up with pepperstone |
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Up with avatrade |
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Up with fpmarkets |
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Up with easymarkets |
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Up with spreadex |
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Up with fxpro |
Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 51% of retail investor accounts lose money when trading CFDs with this provider. | 74-83% 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. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.12% 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. | 75-95 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider |
Demo |
IC Markets Demo |
Roboforex Demo |
eToro Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
easyMarkets Demo |
SpreadEx Demo |
FxPro Demo |
Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | 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, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, AO, BR, HR, GL, IS, IM, JM, FM, MC, NG, SI, | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | AF, AS, AQ, 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, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR | US, CA, IR |
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 2025 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. 51% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
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.