With over 50, words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test. Are you looking to speculate that the Euro EUR currency will go up in value against the U. Dollar USD? The forex market is the largest and most liquid market in the world, representing every global currency with trading conducted 24 hours a day, five days a week.

To trade forex, you need a reputable online broker. Trading with a trusted forex broker is a crucial factor for success in international currency markets. As a contract for difference CFD trader or forex investor, you may have specific needs related to which platform, trading tools, or research requirements you have. Understanding more about your investment style needs can help determine which forex broker will be best for you. Each year, our team here at ForexBrokers. com spends five months testing the biggest names in foreign exchange and assembles a guide to the best forex brokers for forex and CFDs trading.

Here are our findings for CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 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. Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience — as well as a stunning selection of over 40, securities. CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12, tradeable instruments.

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.

For traders in the U. 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.

As a trusted multi-asset broker, XTB offers outstanding customer service, a wide variety of forex and CFDs, and an excellent overall trading experience. Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.

eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors — or receive exclusive perks for sharing their own trading strategies. For the ForexBrokers. com Annual Review , all online broker participants were assessed on variables across seven primary categories. Here's how we tested. Alongside primary categories, ForexBrokers.

com ranks brokers by the most popular investor categories. Finally, each year ForexBrokers. com honors the brokerages who go above and beyond in the areas that matter most to investors. Regulated and trusted across the globe, IG offers traders the ultimate package of excellent trading and research tools, industry-leading education, comprehensive market research, and an extensive list of tradeable products. This fantastic all-round experience makes IG the best overall broker in CMC Markets is a globally-trusted broker that delivers a terrific offering for traders thanks to notably low pricing, nearly 10, tradeable instruments, and the Next Generation trading platform, which comes packed with quality research and innovative features such as its Dynamic Trading portfolio tool.

We've conducted thorough testing of the best trading platforms offered by dozens of the top forex brokers in the industry. A forex broker is a company that is licensed or considered exempt by a national regulator to grant you — as a retail or professional client — the ability to buy or sell foreign currencies, by way of an online trading platform or over the phone known in the industry as voice broking.

A forex broker may offer you the underlying currency, or a non-deliverable spot contract or derivative such as a contract for difference, or CFD, depending on any relevant country-specific regulatory restrictions. It's important to only use brokers that are properly regulated to reduce your risk of being scammed.

Yes, to trade forex you'll need to use a forex broker. You'll need to open an account and deposit enough collateral margin to enable you to place orders with your broker to buy or sell forex. The forex broker's job is to execute your orders — either internally by acting as the principal to your trade market maker execution or by sending your orders to another market, thus acting as your agent agency execution.

Your broker should be regulated and properly licensed in your country of residence or in a major financial center. We evaluate and track dozens international regulatory agencies; click here to learn more about Trust Score.

Check out our guide to trading forex for beginners here. The next step will be deciding on your trading budget. This is especially important given the risks involved in trading forex from a margin account. Forex brokers typically offer a range of contract sizes so you can fine-tune the size of your trade — which will determine how much risk you are taking for a given profit target. In this case, your potential risk will be limited — but so will your potential rewards. For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value.

IG takes first place in our Annual Review as the best forex broker, with available currency pairs and the ability to trade CFDs and forex options, traders have plenty of choices. This means real money volumes need to be traded consistently. Interactive Brokers offers true ECN accounts market maker allowing trading directly with liquidity providers with no dealing desk. This is similar to IC Markets and Pepperstone. Interactive Brokers offer the most financial markets of any foreign exchange broker across a range of asset classes.

This is because in addition to currency trading they offer stockbroking, mutual funds, and even hedge fund products. This allows high volume professional traders to have an all-in-one broker for all their financial requirements. Unlike the more common floating or variable, fixed spreads do not fluctuate when market conditions change.

Traders in particular risk-averse traders and scalpers may prefer spreads that are fixed as it allows one to develop trading strategies knowing exactly what the costs will be. Not many brokers offer fixed spreads, the table below compares the published spreads of brokers that do offer them. As one can see, AvaTrade only has one serious competitor when it comes to fixed spreads in easyMarkets and AvaTrade spreads are mostly superior.

While these spreads are wider than ECN pricing, there are no commission costs. The fixed spreads AvaTrade offer also compare well with Standard account spreads, while a touch wider, it is a small price to pay for extra price transparency and stability.

AvaTrade not only is the largest broker worldwide offering fixed spreads, but they also have the largest range of products with fixed spreads. Using fixed spreads in some aspects is a risk management measure as traders are protected against volatility that occurs with variable spreads. In addition to this, AvaTrade also offers AvaProtect. AvaProtect is a risk management feature that can help protect traders from losing on a recently opened position. With this tool, you can buy 1 or 2 day protection against losses for a particular trade and if the trade is negative at the end of the protected period, AvaTrade will reimburse you for the trade.

The only cost will be the fee you paid for protection. AvaProtect is available with WebTrader AvaTrades browser platform and AvaTradeGo AvaTrade Mobile trading platform.

AvaTrade is regulated in 8 countries or regions. While you will only get the regulation of the AvaTrade subsidiary you join, AvaTrades willingness to comply with many regulators shows its commitment to safe and trustworthy business practices. AvaTrade is relatively unique when compared to other brokers as they offer fixed spreads. Fixed spreads can offer some advantages over variable spreads however which one is for you will depend on the type of trader you are.

If you like predictability with your spreads then AvaTrade is the best option because their spreads are lower than their competitors. Other features AvaTrade also include AvaProtect for extra protection for your trades, a wide range of trading products and WebTrader, AvaTradeGo along with MetaTrader 4, and MetaTrader 5.

com is a multi-regulated broker that offers an excellent range of trading tools and features such as:. Marketsx was designed for CFD trading, and you can access various types of free sentiment tools. If you want to develop algorithmic trading strategies with Expert Advisors EAs or access social-copy trading tools, MetaTrader 4 MT4 or MetaTrader 5 MT5 are great options.

Marketsx is a CFD trading platform that comes with unique sentiment, technical analysis, and fundamental analysis tools. MetaTrader 4 and MetaTrader 5 are the two most popular mainstream trading platforms worldwide. Both MT4 and MT5 are incredibly popular due to the platforms inbuilt algorithmic trading strategies.

You can fully automate trading using Expert Advisors trading robots , that you either write yourself using the MQL4 programming language on MT4 or MQL5 on MT5 , or download online from the MetaTrader Marketplace. The forex community sees the online broker as trusted thanks to oversight from five major financial authorities in Australia ASIC , Europe CySEC , South Africa FSCA , the UK FCA , and in The British Virgin Islands FSC. com is also very transparent with its disclosure and trading conditions as the broker publishes its quarterly execution stats and the parent company is listed on the London Stock Exchange and part of the FTSE Index.

If you want a multi-regulated broker with extensive CFD trading tools plus access to thousands of financial instruments, Markets. com is a great option. View Markets. Based on 13, traders who voted with Investment Trends, Pepperstone is the best broker offering the leading forex platforms, the fastest trade execution speeds and customer support.

View the finding leading to Pepperstone being the best MT4 broker. See the Plus review. An ECN broker acts the same as a stockbroker, allowing an individual to process a trade with the market.

This type of broker does not want a trader to lose as they make a commission based on trade volume. The second type of broker is a market maker taking a position in most cases at the opposite end of a trade. These traders are liquidity providers so take the counter-position to your trade.

This means they profit when you lose and lose when you profit. That data above came from trusted broker websites, broker reviews and our own analysis using their platforms and the regulators for:.

The Australian Securities and Investments Commission ASIC is the regulator in Australia. Australian forex brokers hold an Australian Financial Services Licence. View the top Australian brokers with AFSL licences and ASIC Regulated Brokers such as Fusion Markets and Eightcap. The Financial Conduct Authority FCA is the regulator in the UK. Despite Brexit, the authority remains guided by the European Securities and Markets Authority ESMA.

Most clients in the EU need to provide a National Client Identifier for UK residences this is their National Insurance Number or LEI for entities. View the leading UK brokers with a valid FRN. The UK, unlike other countries, allows spread betting. See our review about the best spread betting forex brokers in the UK. Formally the FSB, The Financial Sector Conduct Authority FSCA is the regulator in South Africa. Regulated FSCA firms have a valid Authorised Financial Service Providers FSP licence.

You view the leading South African FSP licence brokers. The Monetary Authority of Singapore MAS is the local regulator. Regulated brokers will have a company regulation number relevant for a contract for differences trading. You can view our top accounts for Singapore traders. Other regulators were considered such as the Cyprus Securities and Exchange Commission CySEC. The same is the case for brokers including Global Prime , XTB, OANDA, easyMarkets, FP Markets and eToro.

We also considered features such as leverage and trading platforms like NinjaTrader. This page was not designed for USA traders who may require a broker with the National Futures Association NFA or the CFTC.

Learn more about selecting a CFD provider with our choosing article. We use cookies to ensure you get the best experience on our website. By continuing to browse you accept our use of cookies. Brokers By Country Australian Forex Brokers UK Forex Brokers European Forex Brokers NZ Forex Brokers Canadian Forex Brokers US Forex Brokers Singapore Forex Brokers UAE Forex Brokers.

Lowest Spread Forex Brokers Lowest Commission Brokers High Leverage Forex Brokers Islamic Forex Brokers Crypto CFD Brokers Forex Demo Account ASIC Regulated Brokers CySEC Regulated Brokers.

MetaTrader 4 Brokers MetaTrader 5 Brokers Spread Betting Platforms UK CFD Trading Platforms Automated Trading Software Scalping Trading Software Beginner Forex Trading Platforms Micro Currency Platforms. Pepperstone Review IC Markets Review FP Markets Review CMC Markets Plus Review eToro Review IG Review FXCM Review.

Home » Trading. Best Forex Brokers For Nov For the 5th consecutive year, CompareForexBrokers. Written by Justin Grossbard Written by Justin Grossbard Co Founder. Fact Checked We double-check broker fee details each month which is made possible through partner paid advertising.

Learn more this here. Top Forex Brokers Below are the best forex brokers in across ten CFD trading categories. Visit Site. Our Rating. Review Of Pepperstone. Swissquote Review. Review Of IC Markets. City Index Review. Review Of Plus ASIC Australia. FCA UK. MAS Singapore.

FINMA Switzerland. CYSEC Cyprus. FMA New Zealand. DFSA Dubai. BaFin Germany. FSA Seychelles. SCB Bahamas. Raw Spread. Commissions USD Base. Minimum Deposit. Swap Free Account. No Inactivity Fees. Funding Methods. Brokers include Eightcap and TMGM. Forex trading with CFDs is not permitted by the National Futures Association NFA or the Commodities Futures Trading Commission CFTC which are the two major financial regulators for derivatives trading in the United States.

However, spot trading of currency markets is permitted and is similar to CFD trading in that both are leveraged trading instruments and have similar platforms. While the number of NFA and CFTC brokers is limited as the US regulators consider CFD trading to be of high risk nevertheless, we cover all the financial service providers you should know about.

These brokers include Forex. com, Capital. com, Oanda, Interactive Brokers, IG Markets and TD Ameritrade. Our section of regulated forex brokers in the USA looks at some of the best brokers for trading in the United States. If you are based in the US but are not a US resident then you can consider brokers outside the USA.

Our Forex Brokers Accepting US Clients page covers some suitable options. Compare Forex Brokers was created by a team that has worked in the forex industry for several years. Our experienced team collects information based on different regulation standards and ECN brokers combined with their forex trading platforms, such as MetaTrader 4.

Factors taken into consideration include brokerage fees and spreads , charting facilities, project management tools , online trading environment and liquidity offered that can impact slippage.

No scraping or automation is used to compare forex brokers to ensure the highest top forex broker comparisons are made. Feel free to let us know your thoughts about the forex market or our comparison tables! It should be noted that some brokers are regulated in multiple regions. Choosing the regulated region for such global regions can impact trading such as FSA regulated brokers will offer higher leverage on retail investor accounts and the account interest rate.

Protections can also be impacted when you trade forex such as negative balance protection. Along with our top forex broker comparison tables, you can also get information on trading forex markets, trading strategies, CFDs, forex courses and currency trading strategies.

Currency trading is a leveraged product, which means that an FX broker can amplify your deposit by up to times in some regions. This leverage means there is a high risk of losing your money when financial markets become volatile. It is important to understand the risks and disclaimers involved and consider options such as demo accounts prior to trading real money.

We use cookies to ensure you get the best experience on our website. By continuing to browse you accept our use of cookies.

For the 5th consecutive year, CompareForexBrokers. com compared the 34 best forex brokers with ASIC, FCA or MAS tier 1 regulation. With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally.

Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees.

Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Spreads are a major brokerage trading cost impacting trading. While most brokers mark up their spreads, Pepperstone offers two account types with different pricing structures — a Razor Account with no markups, and a standard account that offers commission-free trading.

Standard accounts are ideal for beginner traders as you are paying no commission fees on top of the spreads.

The commission-free spreads are competitive compared to other top forex brokers, starting from 0. Please note, average spreads are updated monthly for accuracy. spreads are taken from each broker's website and updated monthly. Compare Standard Account Spreads. The other pricing structure is an ECN broker style via their Razor Account. With low commission fees and tight spreads, Razor Accounts are ideal for experienced traders.

There are several other ECN forex brokers that publish their average spreads. Commissions are the second major brokerage trading cost. MetaTrader 4 MT4 and MetaTrader 5 MT5 are the most popular forex trading platforms, and with the Pepperstone razor account, these platforms were found to have some of the lowest rates.

This commission rate varies by the currency based a trader selects when opening a Razor account. If you are using cTrader, commission fees equate to 0. The broker has no fees on deposits or withdrawals as well.

This includes payment methods from debit cards, bank transfers to even PayPal. Use the forex brokerage calculator to see how Pepperstone has the lowest fees of the brokers compared.

To compare broker speeds, MetaTrader 4 forex demo accounts trades were compared. There are two types of orders that were measured. The first type was market orders when an order is placed at market values. This is common, especially for automated trading software.

As shown below, Pepperstone has the fastest execution speed. Limit Order is the second type measured for execution speed. This is when the value is set in MT4 at a set loss or profit. Individual traders commonly use this feature. Pepperstone, as shown below, came equal second behind FP markets for this test. In November Pepperstone state that most orders across MetaTrader 4, MetaTrader 5 and cTrader are executed in:.

To achieve the fastest execution speeds, the Equinix Capital Markets infrastructure is utilised. This includes servers in New York for MetaTrader and London for cTrader. The size and proximity of the data centre allow real-time exchange rate data for traders and Straight-Through-Processing STP of orders.

With the Razor account offering no dealing desk, the trading experience is ideal for expert forex traders, those running expert advisors or scalpers. Pepperstone offers the three most popular forex trading platforms, MetaTrader 4, MetaTrader 5 and cTrader.

In conjunction with low fees, the best technology has ensured trading execution speeds are the fastest. Pepperstone is a broker you can trust, as it is regulated by a number of tier 1 financial bodies.

These bodies ensure the broker has the best policies in place to ensure your funds are secure. In addition, Swissquote has a number of other trading benefits, particularly their quality research and vast multi-asset offering which are both highlighted below.

There are 4 account options: Standard, Premium, Prime all no commissions and Professional spread-based. Their Premium account is our recommended account for the best balance between cost and spreads. Here, you will need 10, USD to open an account with a minimum spread of 1. Swissquote offers a vast array of markets to trade with 80 Forex pairs and over CFD instruments across 60 global market exchanges. The broker was also the first bank in the world to offer the ability to trade underlying cryptocurrencies I.

non-CFDs , placing it in a unique position. Swissquote is also preparing to launch crypto staking and lending. For stock and cryptocurrency trading, the Advanced Trader app is available for Android, iOS devices, and Huawei smartwatches. Other Trading Platforms. As a MetaTrader add-on, Swissquote offers the MetaTrader Master Edition suite of tools, developed by FX Blue LLP, along with support for Trading Central and Autochartist plugins, to enhance the default MetaTrader desktop platform experience.

IC Markets offer a range of CFD trading such as commodities, metals, indices to bonds and crypto. Below shows the minimum and average spreads of the major cryptocurrencies, including Bitcoin, Ethereum and Ripple.

There are 10 base currencies offered by IC Markets. The actual commission for the raw spread account for MetaTrader 4 is determined by the base currency set. Below shows the commissions across each base currency from Euro, USD, GBP, JPY to AUD. The funding fee that is chosen can impact the processing time. The withdrawal method a forex trader selects will usually determine the deposit methods available.

There are no inactivity fees, even after a prolonged period of no trading. There are also no transfer fees if you want to switch forex platforms or account types e. standard vs raw. A rollover fee is also known as a swap and is charged by all forex and CFD brokers. They are applied when a position is key open for the next trading day. These change regularly, and on Wednesday night the charge for holding a currency pair is triple.

IC Markets operate similarly to an ECN broker with straight-through processing STP and no dealing desk. This setup ensures the best liquidity and with a large global trading volume achieves the lowest fees for forex traders. Plus is a good option for those new to trading forex thanks to its risk management tools.

To help protect yourself against volatility and the high risk of trading complex instruments, Plus offer features like premium order types and investor protections. Beginner forex traders should consider the Plus online trading account based on:. Trading forex markets are high-risk due to leverage increasing exposure to the market. When this occurs, most forex and CFD brokers will request the negative balance be paid back to get reach a zero balance. A guaranteed stop-loss order GSLO order type is similar to negative balance protection but for individual trades.

It should be noted that when the GSLO order type is activated that the spreads will be wider for that trade. Margin requirements may also need to be met. This simplifies calculations for brokerage compared to other brokers who charge a commission, payment processing fees, and forex platform usage fees. Plus has Webinar and online forex training facilities for beginner to expert currency traders. Educational resources are also available through web-based tutorials and videos.

News and information on global markets can also be easily accessed on the site or FX platform. Mobile trading can also occur on the WebTrader, while a Windows 10 trader exists for those using a desktop device. The mobile trading apps have full functionality with the ability to monitor markets and make live trades. These can also be accessed through the Plus demo account.

These capabilities led to Plus being viewed as the best for beginners on the top 10 forex trading platform comparison. Plus has over , active customers and is a regulated broker in Australia by ASIC AFSL , in South Africa by FSCA FSP and in the UK by FCA FRN Plus is ideal for beginners with risk management tools, training and an easy to use trading platform.

Plus is the best forex broker for beginners based on their worldwide reputation, broker reviews, good customer support and educational resources. City Index part of Gain Capital offers the most comprehensive forex and CFDs across a range of asset classes.

This includes indices, shares, cryptocurrency, commodities, interest rates and options. This is the ideal broker for those looking to trade a range of financial products not just currency. City Index offers 21 Indices to trade across Europe, Asia and the USA. Trading in this class has fixed spreads from 1 point.

Leverage can be up to for major indices, and for minor indices. City Index allows individuals to trade contracts for difference across over 4, shares with leverage up to The commission on global shares is 0. Due to the high-risk nature of margin retail forex and share fluctuations, a stop-loss order is recommended. In some cases, a guaranteed stop-loss order GSLO order type can also be made to lock in the maximum loss of a trade.

City Index trading is across the major crypto classes including Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple.

Pros Excellent platforms and mobile app Extensive range of markets High-quality market research Cons Pricing is average for the industry Limited product range on MT4. Australian forex brokers hold an Australian Financial Services Licence. com Trading Products With 84 currency pairs, including majors, minors and exotics, Forex. The exchange offers a well-designed platform and competitive trading fees. The size and proximity of the data centre allow real-time exchange rate data for traders and Straight-Through-Processing STP of orders. Forex trading with CFDs is not permitted by the National Futures Association NFA or the Commodities Futures Trading Commission CFTC which are the two major financial regulators for derivatives trading in the United States. This type of broker does not want a trader to lose as they make a commission based on trade volume.

Categories:

• Binary Options
• Forex
• Forex Bitcoin
• Forex Brokers
• Binary Options online