We found 11 online brokers that are appropriate for Trading Forex.
What do you think about Forex traders and profiles promoting Forex Trading on instagram?
You might have seen some Instagram users out there claiming to be a millionaires.
They do not hesitate to flex their sport cars, luxury apartments, and many other things which they claimed that they attained from trading.
The self-proclaimed Forex traders post glamourised images to draw their audiences' attention. But they also oftern invite their followers to sign up for an offer or training.
Many people interested in trading have flocked to Instagram attracted by fast cars, jewellery and big houses. Its human nature people view these glamourous profiles with the hope that they can do the same thing as them so that they can make these huge profits as well.
But here is the thing. Not all of these amazing Forex traders on Instagram are real. You might have heard about certain stories where traders after signing up for some of these Forex offers from Instagram lost allot of their money.
You have to be wise and be aware that not all the Forex profiles on Instagram are telling the truth. They are able to create a fake image and promote schemes which are against the law. It is illegal for a non finance professional to offer financial advice. The financial regulations are very strict. The risks have to be stated very clearly.
Here is the scheme that you need to consider before proceeding. First things first, you are encouraged to sign up with the minimum deposit of 250 Pounds via your debit or credit card.
On their registration page, they will confirm that you are over 18. one of the most popular products is the Binary options. This financial product is known in the financial industry as being unethical.
Forex trading on Instagram is promoted through different products, including the binary options, Forex signals, and Forex training courses. Many self-proclaimed traders claim to earn enormous amounts of money through the programs they are promoting. How do you know if they are telling the truth? In short you dont. You have to do your own research and educate yourself.
Some of the unethical Forex and binary options trades that are promoted are so volatile so that some countries have banned them.
The Financial Conduct Authority (FCA) of the UK has banned Binary Options trading for retail traders in 2019.
Binary Options are banned because some of the terms are not compliant to the financial regulations in the world. Binary Option trades rely on yes / no positions. You can lose allot of money very quickly.
Therefore, it is much safer to stick to a conventional well regulated Forex brokerage which comes with a good reputation and is a trustworthy well recommended establishment. Although their fees might be more expensive, they are much safer and responsible.
Forex has become an increasingly popular search topic with the millennial community. If you wonder why people are raving about it, well, it is because of influencers on Social Media, including Instagram.
It is pretty simple to understand why get rich quick schemes related to Forex in Instagram are loved by many millenials.
The influencer will post the images of a life of luxury which they claim to be theirs. They claimed that they managed to achieve their amazing opulent life because of winning on the Forex market.
They look for the right hashtags which are often used by young people online. Many younger people will look at these and get attracted to it.
As we know, youngsters are young and restless. They are willing to try everything new because they can still tolerate risks on some levels at their stage of life.
These influencers offer their audiences the opportunity to earn a hundred dollars or so per trade. They claimed that new users only needed to spend around 10 to 30 minutes a day to achieve what they have. It sounds too good to be true, eh? Indeed.
If you are still looking for trustworthy Forex trading on Instagram now, chances are you have come across such similar threads and profiles.
Younger people will join these unregulated trading platforms, make few trades, and lose everything. They may get too deep and increase the amount of trades and deposits hoping to make back their positions.
It is almost impossible to judge all traders on Instagram. Just dont believe what you see or take advice from someone you dont know. Verify everything you are being told from as many sources as possible.
With some questionable Instagram Forex traders you will see countless numbers of influencer campaigns which have things in common.
Their most popular hashtags are #Forex, #binary options, #trader lifestyle, #richkidsofinstagram, and so on.
You will be able to see how many posts per day under the same tags. And you will see the familiar catchphrases from different accounts. From there, you could conclude that those different accounts are fake.
Most of them are not human, believe it or not. Forex scammers only convince a small percentage of people to part with their money so they use automation. The profile you have been following may have been generated from thousands of downloaded images of public Instagram profiles.
If for a second you have doubts about a person or recieve unsolicited private messages from one of them. Their replies and conversions maybe generated from an auto chatbot.
No matter what questions you ask, they will put some links in the chat and lead you to click the link.
These Instagram wolves usually do not put their real address, name or contact in their Instagram profile.
What you see in their profile cannot be their main identity. You will notice that they will switch their phone numbers after a while. Some of them even use a burner phone.
Many new traders are trapped into these schemes because they are fond of Instagram. They believe what their influencer says.
If you are really serious about trading, do not focus on self-proclaimed traders. Instagram has some great financial news profiles but stay away from get rich quick traders.
Trading is hard, you have to educate yourself on how to use financial research tools, monitor the markets constantly. You have know how to mitigate risks. Never trade without understanding the risks.
There are many reputable regulated brokers online where you can trade safely. Many of these top brokerages offer a wide range of educational resources and research tools for free. If you are new to trading and want to explore the markets do so with a risk free demo account where you are not trading real money.
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 is a list of what we consider to be 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.
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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Roboforex
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eToro
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XM
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Pepperstone
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XTB
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NordFX
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AvaTrade
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FP Markets
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Trading212
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EasyMarkets
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | 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) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | 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 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 | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | 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), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) |
Min Deposit | 200 | 1 | 50 | 5 | 200 | No minimum deposit | 1 | 100 | 100 | 1 | 100 |
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Used By | 180,000+ | 1,000,000+ | 30,000,000+ | 3,500,000+ | 400,000+ | 581,000+ | 10,000+ | 300,000+ | 10,000+ | 15,000,000+ | 142,500+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, Tablet & Mobile apps |
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Learn More |
Sign
Up with icmarkets |
Sign
Up with roboforex |
Sign
Up with etoro |
Sign
Up with xm |
Sign
Up with pepperstone |
Sign
Up with xtb |
Sign
Up with nordfx |
Sign
Up with avatrade |
Sign
Up with fpmarkets |
Sign
Up with trading212 |
Sign
Up with easymarkets |
Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 79% of retail investor accounts lose money when trading CFDs with this provider. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.74% 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 | 81% 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 | 71% of retail investor accounts lose money when trading CFDs with this provider | 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. | Your capital is at risk |
Demo |
IC Markets Demo |
Roboforex Demo |
eToro Demo |
XM Demo |
Pepperstone Demo |
XTB Demo |
NordFX Demo |
AvaTrade Demo |
FP Markets Demo |
Trading 212 Demo |
easyMarkets Demo |
Excluded Countries | US, IR, CA, NZ, JP | US, JP, IR, RU | 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, PT, BB, BM, BS, AG, AI, AW, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, UA, JO, KR, | US, CA, IL, KR, IR, MM, CU, SD, SY | 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, IN, PK, BD, NG , ID, BE, AU | US, CA, EU, RU, SY, KP, CU | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, CA | 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 |
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 2023 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. 79% 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. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
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.
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.