Best Forex Brokers 2021

My best forex brokers list contains all of the forex brokers that I have reviewed over the years along with a description, rating and link to the brokers review or website. You can quickly and easily view broker ratings to help you choose the best forex broker for you.

I have gone through each of these brokers with a fine-tooth comb, conducting thorough research and analysis on the most important things to consider such as regulation, spreads, execution speeds, commissions, liquidity providers, funding methods, account types, trading platforms, trading tools, educational resources, customer support, forex strategies allowed (scalping, hedging, etc) and much more!

I could go on for days and days about the importance of forex brokers and what to look for, so to save time, please see a selection of the very best forex brokers from my honest point of view below. Please always conduct your own due diligence on all forex brokers.

New forex brokers will be added frequently so please bookmark this page to keep up to date with the latest best forex brokers.

# NAME RATING DESCRIPTION Statistics LINK
1

XM Group

XM Logo
Read review
XM Group are one of the best forex brokers in my opinion, providing forex traders with demo and real accounts to trade forex online. Using the XM Group trading platforms provided, including the highly recommended MetaTrader 4 & MetaTrader 5 trading platforms, XM Group clients can place and manage trades on the forex market. XM...
Spreads
95
Liquidity
95
Commissions
95
Support
100
Regulation
95
Visit XM Group Website
2

IG

IG Logo
Read review
Founded in 1974, IG is one of the biggest online brokers in the world and has won multiple awards over the years. They offer over 16,000 tradable products across multiple asset classes, such as forex, indices, stocks, commodities, bonds, metals, energies, and interest rate futures. The broker provides a nice selection of intuitive trading platforms,...
Spreads
95
Liquidity
95
Commissions
95
Support
95
Regulation
95
Visit IG Website
3

AvaTrade

AvaTrade Logo
Read review
AvaTrade have some of the most competitive spreads I have seen and rapid trade execution speeds in comparison to many other online forex brokers. This established broker has plenty of forex currency pairs (50+ majors / exotics) and even cryptos for you to trade online with some of the most impressive trading conditions from my...
Spreads
95
Liquidity
95
Commissions
95
Support
90
Regulation
95
Visit AvaTrade Website
4

Pepperstone

Pepperstone Logo
Read review
Pepperstone have been around for many years and have rightly earned a fantastic reputation amongst the forex trading community as one of the best forex brokers, if not the best. Pepperstone is a name that I have often seen popping up during my many years of forex trading. I have a forex trading account with...
Spreads
95
Liquidity
95
Commissions
95
Support
95
Regulation
90
Visit Pepperstone Website
5

IC Markets

IC Markets Logo
Read review
IC Markets are one of my best forex brokers that allow you to open a forex trading account and trade the forex market through one of the trading platforms they provide – MetaTrader 4 (MT4) being the most widely used trading platform. Apart from being extremely easy to use with a small learning curve, MetaTrader...
Spreads
95
Liquidity
95
Commissions
95
Support
95
Regulation
80
Visit IC Markets Website
6

Plus500

Plus500 Logo
Read review
Plus500 is a popular online CFD only broker that is headquartered in Israel and regulated in multiple jurisdictions through its subsidiaries. The brokerage firm was established in 2008, and they offer CFDs on Forex, Cryptocurrencies, Stocks, Commodities, ETFs, Options and Indices, on their easy-to-use proprietary trading platforms, which is equipped with many useful tools. They...
Spreads
85
Liquidity
85
Commissions
85
Support
85
Regulation
90
Visit Plus500 Website
7

Forex.com

Forex.com Logo
Read review
Forex.com has been around since 2001, and it is a leading brand in the retail forex industry. The broker offers trading services in over 300 instruments, across forex, stocks, commodities, indices, and cryptocurrency, providing exceptional trading conditions, such as fast execution speeds, minimal slippage, and competitive trading fees. They provide their in-house trading platform, with...
Spreads
80
Liquidity
90
Commissions
80
Support
80
Regulation
95
Visit Forex.com Website
8

City Index

City Index Logo
Read review
Founded in 1983 and headquartered in the UK, City Index is one of the leading online brokers in the world. They have over 35 years of experience and cater to over 150,000 traders from different parts of the world, offering fast and reliable trade execution speeds via their award-winning platforms and technology across multiple devices....
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
95
Visit City Index Website
9

FXTM

FXTM Logo
Read review
Launched in 2011, Forex Time (FXTM) is an online broker that is regulated by top financial authorities around the world. They offer over forex and CFD trading in 250 tradable instruments, spread across currency pairs, cryptocurrency, stocks, indices, metals, energies, and other commodities, with tight spreads, good execution speeds, and negative balance protection. The broker...
Spreads
80
Liquidity
80
Commissions
85
Support
80
Regulation
90
Visit FXTM Website
10

Admiral Markets

Admiral Markets Logo
Read review
Admiral Markets is a regulated and award-winning broker that provides its clients with a vast selection of trading instruments on advanced trading platforms with tight spreads, fast execution, flexible account types, and several funding options. The broker has been offering impeccable brokerage services since they began operation in 2001. No wonder they have numerous awards...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
90
Visit Admiral Markets Website
11

Axi

Axi Logo
Read review
Established in 2007 in Australia, Axi (formerly known as AxiTrader) has grown to become one of the leading names in the online trading industry. The broker provides trading services in forex, stocks, indices, metals, energies, bonds, and ETFs, offering tight spreads, low commissions, good execution speed with minimal slippage, and multi-lingual global 24-hour customer support...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
90
Visit Axi Website
12

eToro

eToro Logo
Read review
eToro is a popular social trading platform that also offers brokerage services. The platform has a vast collection of analytical tools that traders can use to determine the right trader to copy. The platform has millions of traders from over 140 countries. With eToro, investors can invest in forex, stocks, indices, bonds, ETFs, cryptocurrency, metals,...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
90
Visit eToro Website
13

FXOpen

FXOpen
Read review
FXOpen is a well-established forex broker that has been offering online trading to over 1 million clients across the globe all the way back to 2005. They are an ECN broker that has tight spreads, reliable execution speeds and competitive commissions. FXOpen can cater to both retail and institutional traders with services including retail trading...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
90
Visit FXOpen Website
14

HYCM

HYCM
Read review
Since 1977, HYCM has been providing trading services to its clients across the globe, offering a range of instruments from different asset classes, including Forex, Stocks, Cryptocurrency, Indices, Metals, Energies, and other commodities. In all, there are over 300 instruments available on this broker’s platform, and they are regulated in multiple jurisdictions. With over 40...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
90
Visit HYCM Website
15

Tickmill

Tickmill Logo
Read review
Established in 2015, Tickmill is an online forex and CFD broker that is regulated in multiple jurisdictions. They provide online trading services to their retail and institutional clients across the globe, offering over 80 tradable instruments across currency pairs, stocks, indices, bonds, metals, energies, and other commodities via flexible trading platforms. The broker offers quality...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
90
Visit Tickmill Website
16

XTB

XTB Logo
Read review
XTB is a renowned online broker and one of the largest Forex and CFD brokers listed on a stock exchange. They offer over 1,500 tradable instruments across different asset classes, including forex, cryptocurrency, stocks, indices, bonds, ETFs, metals, energies, and other commodities via their reliable and award-winning platform. XTB treats its clients like worthy partners...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
90
Visit XTB Website
17

Swissquote

Swissquote Logo
Read review
Swissquote is an online brokerage firm that is headquartered in Gland, Switzerland, with representatives in Bern, Dubai, Malta, London, Hong Kong, and Zurich. The broker provides their clients with a variety of award-winning trading solutions across multiple asset classes, including Cryptocurrencies, forex, stocks, indices, options, bonds, ETFs, metals, and energies. Swissquote currently provides trading services...
Spreads
80
Liquidity
80
Commissions
80
Support
75
Regulation
90
Visit Swissquote Website
18

ETFinance

ETFinance Logo
Read review
In this post I will be reviewing the ETFinance online broker who are based in Cyprus. They offer clients around the world online trading of Forex and CFD instruments via the MetaTrader 4 platform which you can download for free for multiple devices. If you are new to trading online, the broker has demo account...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
80
Visit ETFinance Website
19

FP Markets

FP Markets Logo
Read review
FP Markets is a well-established and regulated online broker. They have an impressive selection of more than 13,000+ trading instruments which is one of the largest offering of assets I have seen from any broker. Traders from all over the globe can trade Forex pairs, Metals, Commodities, Indices, Equities and Cryptocurrencies. The broker was founded...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
80
Visit FP Markets Website
20

HF Markets

HF Markets Logo
Read review
Formerly known as Hot Forex, HF Markets is a popular online forex and CFD broker that was established in 2010. The broker offers retail and institutional trading services on a vast range of trading instruments, spread across multiple markets including forex, cryptocurrency, stocks, indices, bonds, metals, energies, and other commodities. HF Markets offer a range...
Spreads
75
Liquidity
75
Commissions
75
Support
80
Regulation
95
Visit HF Markets Website
21

NSBroker

NSBroker Logo
Read review
Founded in 2011 and part of the NSFX group, NSBroker is a regulated broker located in Malta that offers tight spreads, low commissions and rapid trade execution speeds. They offer traders from all across the globe access to trade CFDs and forex online via an easy to use trading platform. In addition to excellent trading...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
80
Visit NSBroker Website
22

OInvest

OInvest Review
Read review
In this post I will be reviewing the online broker OInvest. This is a South African brokerage firm that was established in 2008. They offer a wide range of asset classes for trading online including forex currencies, CFD’s on stocks, commodities, precious metals, energies and more. Whatever you like to trade, there is something for...
Spreads
80
Liquidity
80
Commissions
80
Support
80
Regulation
80
Visit OInvest Website
23

Global Prime

Global Prime Logo
Read review
Global Prime is a leading online broker that offers trading services in over 40 tradable instruments across several asset classes, including commodities, cryptocurrency, forex, stocks, indices, metals, energies, and much more. Established in 2010, Global Prime now has clients in over 120 countries, with an average monthly trading volume of 30+ billion. The broker is...
Spreads
80
Liquidity
80
Commissions
80
Support
75
Regulation
80
Visit Global Prime Website
24

ATFX

ATFX Logo
Read review
ATFX is a well-established online broker, with presence in the UK, Cyprus, and the UAE, and their website is available in up to 13 languages. Founded in 2017, the broker offers trading in forex and CFDs on over 100 instruments, including metals, energies, indices, German and U.S. socks, and cryptocurrencies. They also offer spread betting...
Spreads
70
Liquidity
70
Commissions
80
Support
80
Regulation
90
Visit ATFX Website
25

Darwinex

Darwinex Logo
Read review
Darwinex is a regulated, London-based online brokerage firm founded in 2012. They offer trading in over 300 instruments across several asset classes, such as forex, cryptocurrency, stocks, indices, metals, energies, and other commodities. Providing direct market access (DMA), the broker offers excellent trade execution speed, competitive spreads that start from 0 pips, and low commission...
Spreads
80
Liquidity
80
Commissions
75
Support
75
Regulation
80
Visit Darwinex Website
26

ActivTrades

ActivTrades Logo
Read review
ActivTrades is a well-regulated online forex and CFD broker that offer traders across the globe over 500 trading instruments in multiple markets, including forex, cryptocurrency, stocks, indices, metals, energies, ETFs, Spread-betting, and options. The broker provides clients with a selection of powerful trading platforms, interesting trading tools, and educational resources. They operate with no dealing...
Spreads
75
Liquidity
75
Commissions
75
Support
80
Regulation
80
Visit ActivTrades Website
27

FXChoice

FXChoice Logo
Read review
FXChoice is a Belize-regulated online forex broker that accepts clients from all over the world, excluding the United States. They are an ECN broker, which provides direct access to the liquidity providers, offering competitive trading fees, fast execution speed, and easy account management features. The broker offers forex and CFD trading in a wide range...
Spreads
75
Liquidity
75
Commissions
75
Support
90
Regulation
70
Visit FXChoice Website
28

TradeATF

TradeATF Logo
Read review
TradeATF is an online broker that offers CFD trading on 250+ assets, including Forex currency pairs, cryptocurrencies, indices, precious metals, energies, shares/stocks. They cater to traders from across the globe, whatever your level of trading experience, the broker states that they support every client with their market analytics, innovative technology, expertise, and trading services. Tight...
Spreads
75
Liquidity
75
Commissions
75
Support
80
Regulation
80
Visit TradeATF Website
29

Fusion Markets

Fusion Markets Logo
Read review
Fusion Markets is a regulated Australian online-based broker that offers flexible trading platforms and account types with highly competitive trading fees. The broker offers over 120 financial products in multiple asset classes, including forex, commodities, cryptocurrency, stocks, indices, metals, and energies. They make use of the latest cutting-edge technologies to provide fast, easy, and efficient...
Spreads
75
Liquidity
75
Commissions
75
Support
75
Regulation
80
Visit Fusion Markets Website
30

Iron FX

Iron FX Logo
Read review
IronFX is a global online trading broker that offers forex trading and CFDs in over 200 financial products across different asset classes, including currency pairs, cryptocurrency, stocks, indices, metals, energies, and other commodities. Although headquartered in Cyprus, the broker has offices around the globe, including London, Sydney, and Johannesburg. The broker provides 10 trading platforms...
Spreads
70
Liquidity
70
Commissions
70
Support
75
Regulation
90
Visit Iron FX Website
31

Liquid

Liquid Logo
Read review
Liquid is a Japanese digital asset exchange that allows clients to trade spot, margins, CFDs, and perpetuals with multiple funding options, speedy trade execution, and deep liquidity. The Exchange was launched in 2014 and has since grown into an established crypto exchange with over 300 employees and around $50 billion processed transactions as of May...
Spreads
75
Liquidity
75
Commissions
75
Support
75
Regulation
75
Visit Liquid Website
32

ThinkMarkets

ThinkMarkets Logo
Read review
Established in 2010, ThinkMarkets is a leading forex and CFD trading broker that provides clients in over 180 countries with access to a wide range of tradable instruments, spread across different markets, including forex, cryptocurrency, stocks, indices, metals, energy, and other commodities. The brokerage firm is headquartered in London and Melbourne but has coverage across...
Spreads
65
Liquidity
65
Commissions
70
Support
85
Regulation
90
Visit ThinkMarkets Website
33

AAATrade

AAATrade Logo
Read review
AAATrade is a Cyprus based financial investment firm that has been offering a plethora of financial services to retail and institutional clients across the globe since 2013. They offer online trading on over 60,000 securities across forex, cryptocurrency, stocks, futures, indices, metals, options, bonds, and ETFs. The broker operates the straight-through processing model and gives...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
90
Visit AAATrade Website
34

BDSwiss

BDSwiss Logo
Read review
BDSwiss is a multi-regulated online trading broker that offers forex and CFD trading in more than 250 tradable instruments across different asset classes, such as currency pairs, cryptocurrency, stocks, indices, metals, energies, and other commodities. Their clients enjoy unique trading platforms, additional trading tools, excellent customer support, a library of educational resources, and quality trading...
Spreads
70
Liquidity
70
Commissions
70
Support
80
Regulation
80
Visit BDSwiss Website
35

Capex

Capex Logo
Read review
Founded in 2016 in Cyprus, CAPEX is an online trading broker that offers over 2,100 tradable assets across multiple asset classes, such as forex, commodities, cryptocurrency, stocks, indices, metals, energies, bonds, and ETFs for online trading. The broker offers competitive spreads, transparent pricing, and fast execution speeds. CAPEX has won several industry awards for its...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
90
Visit Capex Website
36

Core Spreads

Core Spreads Logo
Read review
Founded in 2014, Core Spreads is a multi-regulated online broker that offers forex and CFD trading services on powerful and advanced trading platforms, including the MetaTrader 4 platform and their own in-house developed CoreTrader Spread Trading platform. The broker offers over 1,000 instruments across multiple markets, such as Forex, commodities, cryptocurrency, stocks, indices, metals, energies,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
90
Visit Core Spreads Website
37

easyMarkets

easyMarkets Logo
Read review
Since they commenced operations in 2001, easyMarkets has been providing flexible trading platforms, innovative features, and more than 200 global markets to clients all over the globe. They offer forex and CFD trading in currency pairs, cryptocurrency, indices, options, bonds, ETFs, metals, energies, and other commodities. easyMarkets is well-established and strictly regulated and has won...
Spreads
70
Liquidity
65
Commissions
75
Support
70
Regulation
90
Visit easyMarkets Website
38

Fortrade

Fortrade Logo
Read review
Fortrade, an FCA regulated online broker, has been offering 24-hour trading services in hundreds of trading instruments, including Forex, commodities, stocks, indices, metals, energies, and ETFs, to over 10,000 private and institutional traders from across the globe. Founded in 2013, the broker is focused on simple and accessible trading for all, providing user-friendly platforms, such...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
90
Visit Fortrade Website
39

FXGiants

FXGiants Logo
Read review
Established in 2015, FXGiants is an online forex and CFD broker that offers retail and institutional traders all over the world access to over 200 tradable instruments in different asset classes, including forex, cryptocurrency, stocks, indices, metals, energies, and other commodities. The broker provides clients with the industry-leading MetaTrader 4 (MT4) platform, a number of...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
90
Visit FXGiants Website
40

GO Markets

GO Markets Logo
Read review
GO Markets is a leading Australian broker that was founded in 2006. They provide their 80,000+ clients across the globe access to more than 250 tradable instruments spread across multiple markets, such as forex, cryptocurrency, stocks, indices, metals, energies, and commodities. The broker offers the powerful MetaTrader 4 and MetaTrader 5 trading platforms, a selection...
Spreads
70
Liquidity
70
Commissions
70
Support
80
Regulation
80
Visit GO Markets Website
41

InstaForex

InstaForex Logo
Read review
Established in 2007, InstaForex is a popular brand in the online brokerage industry, serving over 7,000,000 traders across the globe. They offer forex and CFD trading services in over 300 tradable instruments, spread across currency pairs, cryptocurrency, stocks, indices, metals, energies, and other commodities. The broker provides flexible trading platforms with good execution speed, competitive...
Spreads
70
Liquidity
70
Commissions
70
Support
80
Regulation
80
Visit InstaForex Website
42

Oanda

Oanda Logo
Read review
Founded in 1996, Oanda is a well-known online retail broker that is regulated in multiple jurisdictions, including the US, UK, Canada, Japan, Singapore, and Australia. The broker provides forex and CFD trading in up to 10,000 instruments, across all major financial asset classes. Oanda has won several awards over the years, including the Best Retail...
Spreads
65
Liquidity
75
Commissions
70
Support
65
Regulation
95
Visit Oanda Website
43

Purple Trading

Purple Trading Logo
Read review
Purple Trading is an online broker that is regulated in multiple jurisdictions and offers multi-asset trading with reliable and transparent conditions. The broker offers forex and CFD trading in a range of instruments across different markets, such as Forex, indices, stocks, cryptocurrency, metals, energies, and other commodities. Launched in 2016, Purple Trading brings innovation to...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
90
Visit Purple Trading Website
44

Capital.com

Capital.com Logo
Read review
Capital.com is a regulated online broker that offers CFD trading to more than 360,000 registered clients from different parts of the world, providing them access to over 2,000 markets across indices, commodities, cryptocurrency, stocks, and forex. They provide their clients with a powerful CFD trading platform, a vast selection of trading tools, and highly rated...
Spreads
65
Liquidity
65
Commissions
70
Support
75
Regulation
90
Visit Capital.com Website
45

NAGA

NAGA Logo
Read review
NAGA is an innovative online broker that provides a social investment network where traders can like, share, and copy investments on over 500 trading instruments including forex, commodities, cryptocurrency, stocks, indices, metals, energies, and ETFs. There are over 500,000 accounts on the NAGA network, which was founded in 2015 with the mission to make investing...
Spreads
70
Liquidity
70
Commissions
70
Support
75
Regulation
80
Visit NAGA Website
46

Swiss Markets

Swiss Markets Logo
Read review
Swiss Markets is an online forex and CFD broker that offers professional trading services to all clients, irrespective of their experience level or trading capital. The broker offers a range of financial instruments across different asset classes, including forex, precious metals, equity indices, and energies via the widely acclaimed MetaTrader 4 platform. Established in 2016...
Spreads
70
Liquidity
70
Commissions
65
Support
70
Regulation
90
Visit Swiss Markets Website
47

101investing

101investing Logo
Read review
101investing is a Cyprus-based online trading broker that offers CFD trading services on over 100 financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies, via the popular MetaTrader 4 trading platforms for web, mobile, and desktop. There are a variety of account types, funding options, and educational resources to choose from. They have spreads starting...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit 101investing Website
48

24option

24option Logo
Read review
Launched in 2009, 24option is an online broker that provides traders of all levels with intuitive and user-friendly trading platforms that incorporates the latest technologies for online trading. They give traders access to trade multiple trading instruments from different markets, including forex, commodities, cryptocurrency, stocks, indices, metals, energies, and ETFs. The broker provides clients with...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit 24option Website
49

Abshire-Smith

Abshire-Smith Logo
Read review
Abshire-Smith is a trading broker that was established in 2011 in the United Kingdom by Abshire-Smith Global Limited and has continued to provide financial brokerage services to both individual and corporate clients to date. It offers multiple tradable assets, such as forex currency pairs, CFDs, futures, bonds, and commodities, for trading online through a choice...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Abshire-Smith Website
50

ACY Securities

ACY Securities Logo
Read review
ACY Securities is an Australian Online broker that offers tight spreads, low trading fees, and good execution speeds to their global clientele. They are an ECN broker that provides over 60 assets for trading on the MetaTrader 4 platform. Founded in 2013 in Melbourne, ACY Securities is currently headquartered in Sydney but has offices in...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit ACY Securities Website
51

Advanced Markets

Advanced Markets Logo
Read review
Advanced Markets is an online trading broker that operates the Straight-Through Processing (STP) execution model, offering true Direct Market Access (DMA) to the interbank liquidity pool, using up to date technology solutions. They give traders access to different financial markets, including forex, precious metals, energies, and CFDs. The broker has been in operation since 2006...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Advanced Markets Website
52

AETOS

AETOS Logo
Read review
Founded in 2007 with headquarters in Sydney, AETOS Capital Group Pty Limited is an Australian Forex and CFD broker that also has a presence in the UK. The broker provides services to over 200,000 clients from over 100 countries globally. They offer about 40 trading instruments across various asset classes, such as forex, metals, energy,...
Spreads
65
Liquidity
65
Commissions
70
Support
70
Regulation
90
Visit AETOS Website
53

ArgusFX

ArgusFX Logo
Read review
ArgusFX is an online financial services provider that has been offering quick access to the financial markets since 2003 whilst operating as a true STP broker. They provide traders with the MT4 and MT5 trading platforms to enable them to trade stocks, futures, forex, spot metals, CFDs, and other trading instruments. The broker is based...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit ArgusFX Website
54

AxCap247

AxCap247 Logo
Read review
Established in 2013 in London, United Kingdom, AXCap247 is a brokerage firm that offers access to trade multiple financial assets, such as forex, stocks, indices, energies, and CFDs. They provide traders with several trading platforms that are available in desktop, web, and mobile versions. In addition to brokerage services, they also offer leverage foreign exchange...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit AxCap247 Website
55

BenchMark Finance

BenchMark Finance Logo
Read review
BenchMark Finance is a multi-regulated and well-established online broker that offers a plethora of tradable assets, such as forex, commodities, cryptocurrency, stocks, indices, metals, and energies for trading online. They provide clients with the sophisticated MT4 and MT5 trading platforms, offering the latest innovative trading technologies with no dealing desk (NDD) execution. The BenchMark brand...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit BenchMark Finance Website
56

BlackBull Markets

BlackBull Markets Logo
Read review
BlackBull Markets is a New Zealand-based broker that offers institutional-grade trading conditions to traders across the globe. They offer forex trading and CFDs on indices, energies, metals, and more. Little wonder this broker won the highly coveted Deloitte Fast 50 award among several other awards owing to their premium trading tools and innovative solutions in...
Spreads
65
Liquidity
65
Commissions
70
Support
80
Regulation
80
Visit BlackBull Markets Website
57

Blueberry Markets

Blueberry Markets Logo
Read review
Blueberry Markets is an Australian-based broker that offers online trading to a worldwide client base. They offer a limited range of about 50 tradable instruments across different asset classes, including forex, indices, metals, energies, and other commodities, through the very popular MetaTrader 4 (MT4) platform. The broker operates an ECN model of trade execution and...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Blueberry Markets Website
58

Bulbrokers

Bulbrokers Logo
Read review
Launched in 2000, Bulbrokers is an online financial services provider that offers access to several financial markets, including stocks, options, futures, options on futures, ETF, warrants, indices, bonds, funds, and currencies. They provide traders with a variety of trading platforms as well as a range of learning tools. The required minimum deposit to operate an...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Bulbrokers Website
59

Charles Stanley Direct

Charles Stanley Direct Logo
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Charles Stanley Direct is a traditional brokerage firm that was launched in 1985 in the United Kingdom but started offering online services in 2002. They offer traders access to multiple financial markets, including stocks, ETFs, indices, funds, and more, using an advanced trading platform that was developed in-house. Traders are offered multiple trading account options...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Charles Stanley Direct Website
60

CM Trading

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CM Trading is an online broker founded in 2012 and is currently rated as South Africa’s largest indigenous online broker, providing traders across the globe access to trading instruments in multiple markets, including Forex, commodities, cryptocurrency, stocks, shares, indices, metals, and energies, on popular trading platforms including the MetaTrader 4. They offer a range of...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit CM Trading Website
61

CMC Markets

CMC Markets Logo
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Established in 1989 in the UK, CMC Markets is a leading retail broker that offers forex, spread-betting, and CFD trading services and has won multiple awards over the years. CMC Markets is listed on the London Stock Exchange (LSE), with the ticker symbol CMCX. The broker provides online trading in over 10,000 instruments across multiple...
Spreads
65
Liquidity
65
Commissions
65
Support
75
Regulation
90
Visit CMC Markets Website
62

Cornertrader

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Established in 2012, Cornertrader is an online financial services provider that operates as a subsidiary of Corner Bank Limited,  a bank that is headquartered in Switzerland. The broker gives traders access to trade multiple financial instruments across different asset classes, including forex, CFDs, stocks, commodities, options, cryptocurrency, funds, as well as stock options and bonds,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Cornertrader Website
63

CPT Markets UK

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CPT Markets UK was launched in 2008 in the United Kingdom to provide traders around the world with unhindered access to the financial markets. The broker provides traders with the MetaTrader 4 trading platform, which is available in desktop, web, and mobile versions. They also offer a selection of useful trading and learning tools, whilst...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit CPT Markets UK Website
64

Daniels Trading

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Launched in 1995 in Chicago, Daniels Trading is an online futures brokerage group that offers trading services to over 16 thousand traders, and so far, they have over executed over 7.2 million contracts. They provide traders with a proprietary trading platform that is available in the desktop and web versions for trading futures and options...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Daniels Trading Website
65

Degiro

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Degiro is a multi-regulated online broker founded in 2013 in the Netherlands. They provide trading services in a wide range of products that trade on over 50 exchanges across 30 different countries, offering very competitive fees and cost-effective ways of investing. The broker caters to more than 400,000 private investors from over 18 countries, enabling...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Degiro Website
66

E*Trade

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E*TRADE is a leading online U.S. broker that offers a wide selection of investment products, competitive fees, intuitive platforms, and advanced trading tools. Their investment products include stocks, bonds, ETFs, mutual funds, futures, options, and certificate of deposits (CDs), and you can trade self-directed or invest in automated portfolio management options. The broker was founded...
Spreads
65
Liquidity
65
Commissions
70
Support
80
Regulation
80
Visit E*Trade Website
67

FCI Markets

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FCI Markets is an online financial services provider that is headquartered in Essex, United Kingdom. They allow clients to trade multiple financial markets, including forex, commodities, indices, and more. The broker is designed to meet the trading needs of all kinds of traders, from beginners to experienced EX-city professionals. They offer several trading and learning...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit FCI Markets Website
68

FINEXO

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FINEXO is a Cyprus-based online trading broker that offers over 2100 financial instruments across various asset classes, such as stocks, forex, cryptocurrencies, indices, commodities, bonds, ETFs, and CFDs for online trading using a range of trading platforms. FINEXO creates a simple and easy-to-use trading environment for all levels of traders. Traders are provided with a...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit FINEXO Website
69

ForexTB

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ForexTB is an online trading broker launched in 2015 to provide traders with the right environment and resources for trading over 300 financial instruments online. The broker operates from Cyprus, providing traders with a variety of trading platforms, trading tools, and educational resources whilst a client support team is available to answer all questions. Trading...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit ForexTB Website
70

FX GLOBAL

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Operating from Cyprus, FX GLOBAL is an online trading broker that has been offering traders access to different financial instruments, such as shares, forex, commodities, indices, and CFDs since 2016. They provide traders with the MT5 trading platform, along with a range of useful trading tools and educational resources. Traders also benefit from a selection...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit FX GLOBAL Website
71

Fxview

Fxview Logo
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Operating since 2008 from Cyprus, Fxview is an online forex and CFD broker that offers institutional-grade liquidity and execution speeds, as well as competitive spreads, low commissions, and negative balance protection. Fxview provides traders with the MT4 and MT5 trading platforms, along with the necessary tools, to trade many financial markets, such as forex, commodities,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Fxview Website
72

GKFX

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GKFX is an online broker that was founded in 2013 but has since grown into a broker with traders from all over the globe. They provide individuals and institutional clients with trading solutions for online forex and CFD trading. The broker offers over 300 assets across different asset classes such as Forex, indices, stocks, shares,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit GKFX Website
73

HFTrading

HFTrading Logo
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HF Trading is an innovative online financial service provider that has been offering online trading via user-friendly trading platforms since 2019. They offer a range of global financial instruments across multiple asset classes, including forex, cryptos, stocks, commodities, indices, and more. The broker offers clients a range of benefits including innovative trading tools, useful mobile...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit HFTrading Website
74

Infinity Futures

Infinity Futures Logo
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Infinity Futures is an online trading broker that is based in Chicago, Illinois, and has been in operation since 1995, offering access to futures and options trading via their InfinityAT trading platform to a global clientele. They have multiple account options with a required initial deposit of $3,000. Clients get access to a selection of...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Infinity Futures Website
75

IQ Option

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Established just in 2013, IQ Option grew rather rapidly to become one of the largest online trading brokers with over 20 million members from 31 countries using their trading platform. The broker provides their clients with a vast collection of trading tools and intuitive trading platform that is available for multiple devices, with good trade...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit IQ Option Website
76

JFD Bank

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JFD Bank is an online trading broker that was founded in 2011 to address the lack of transparency in the brokerage industry, so they built their business around the core values of fairness, trust, and transparency. They provide traders with access to trade over 1,500 financial instruments across different markets, including forex, commodities, cryptocurrency, stocks,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit JFD Bank Website
77

Libertex

Libertex Logo
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Libertex is a regulated online trading broker that has been in operation since 1997, providing forex and CFD trading services in over 244 financial products in multiple markets, including forex, cryptocurrency, stocks, ETFs, indices, metals, energies, and other commodities. The broker has clients in over 110 countries across the globe and serves more than 2,200,000...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Libertex Website
78

OctaFX

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Established in 2011, OctaFX is an award-winning broker that offers trading services in forex and CFDs on stock, indices, cryptocurrency, metals, energies, and other commodities via their flexible trading platforms that are loaded with useful trading tools. The broker operates the STP and ECN models of trade executions and offers different account types to suit...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit OctaFX Website
79

Passfolio

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Founded in 2018, Passfolio is a fintech company that is based in San Francisco, United States of America. They operate the STP execution model, which ensures optimum transparency and no conflict of interest. The broker allows traders in over 170 countries to invest in various financial instruments across different asset classes — United States dollars,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Passfolio Website
80

Phoenix Markets

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Since its launch in 2013, Phoenix Markets has been providing traders with state-of-the-art trading platforms for trading forex, commodities, indices, CFDs, and other financial assets. The broker operates the STP execution model, which ensures transparency in the execution of clients’ orders. Traders are provided with useful trading tools and educational resources, while a client support...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Phoenix Markets Website
81

Price Markets

Price Markets Logo
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Price Markets is a UK-based online trading broker with a diverse range of trading services to cater to both retail and institutional traders’ needs. The broker offers a flexible choice of trading solutions, including the MetaTrader 4 platform, FIX API connectivity, and PAMM accounts for money managers and investors. Launched in 2013, Price Markets operate...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Price Markets Website
82

Rakuten Securities

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Rakuten Securities was founded in 1999 and has since then grown to become a global brand in the retail brokerage industry with a very large customer base from all over the world. The broker offers fixed spread trading on forex and CFDs via the MetaTrader 4 platform. They provide important trading tools, such as Autochartist...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Rakuten Securities Website
83

RJO Futures

RJO Futures Logo
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RJO Futures is a regulated online futures broker that is based in Chicago, United States of America. The brokerage firm was built on the solid reputation of R.J O’Brien and has been offering access to the global derivatives markets, where you can trade commodity and financial futures as well as options on futures, since 1914....
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit RJO Futures Website
84

ROinvesting

ROinvesting Logo
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ROinvesting is a regulated online trading broker that was launched in 2017 in Nicosia Cyprus and is fast growing into a global brand, offering more than 350 instruments across multiple asset classes, including forex, indices, stocks, commodities, and cryptocurrencies via the MT4 platform. They also provide traders with a range of useful trading tools and...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit ROinvesting Website
85

Squared Financial

Squared Financial Logo
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Launched in 2005, Squared Financial is an online trading broker that offers several favorable trading conditions, such as multiple account options with a small minimum deposit requirement of $100, leverage of up to 1:500, tight spreads, negative balance protection, and more. Traders are allowed to trade a wide variety of financial markets, including energies, futures,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Squared Financial Website
86

Stratton Markets

Stratton Markets Logo
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Launched in 2018 in Limassol, Cyprus, Stratton Markets is an online retail forex and CFD trading broker that offers traders from around the world access to trade over 293 trading instruments across different asset classes, including forex currency pairs, cryptocurrencies, and CFDs. The broker provides traders with the MT4 trading platform and their proprietary trading...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Stratton Markets Website
87

Synergy Markets

Synergy Markets Logo
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Launched in 2011 in Sydney, Australia, Synergy Markets is a Forex/CFD broker that offers online trading services to traders in Australia and other parts of the world whilst operating as an ECN brokerage model with No Dealing Desk (NDD) intervention. They offer over 50 different financial products, including currency trading, equity, indices, commodities, and cryptocurrencies,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Synergy Markets Website
88

T1Markets

T1Markets Logo
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T1Markets is a Cyprus-based online retail broker that operates the STP/ECN execution model. The broker is regulated and provides traders with the MetaTrader 4 trading platform for trading multiple financial markets, such as forex, indices, commodities, cryptocurrency, stocks, metals, and CFDs. Traders also benefit from some trading and learning tools, while a client support team...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit T1Markets Website
89

TMGM

TMGM Logo
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TMGM is an Australia-based trading broker that was launched in 2018. They provide traders with the MetaTrader, Iress and HubX trading platforms for trading multiple assets, such as forex currency pairs, commodities, indices, and CFDs. The broker implements the ECN execution model with a leverage of up to 1:500 and provides enhanced execution speeds with...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit TMGM Website
90

TopFX

TopFX Logo
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TopFX is an online trading broker that operates the straight-through processing (STP) execution model and offers fast trade executions below 25 ms, with competitive spreads and commissions. The broker is regulated and operates from Seychelles, offering online trading services in more than 1,000 financial instruments across different asset classes, including forex, indices, shares, metals, energies,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit TopFX Website
91

Tradovate

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Operating since 2015, Tradovate is an online trading broker that offers futures and options trading through a range of desktop-based, web-based, and mobile app-based trading platforms that can integrate seamlessly. The trading platforms offer commission-free and cloud-based solutions to active futures traders. Clients also enjoy access to educational resources and a client support team. There...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Tradovate Website
92

Valutrades

Valutrades Logo
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Valutrades is a regulated ECN broker that is based in London and offers a selection of over 100 financial instruments across multiple markets including forex, commodities, cryptocurrency, stocks, indices, metals, and energies for online trading. The broker has a robust non-dealing desk trading environment with spreads starting from just zero pips, and leverage of up...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Valutrades Website
93

WH Selfinvest

WH Selfinvest Logo
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Operating from Luxembourg, WH Selfinvest is a multi-regulated brokerage firm that was established in 1998 to offer unhindered access to the global financial markets. They give traders the opportunity to trade multiple financial instruments across different asset classes, including futures, CFDs, forex, and stocks, via different trading platforms. The broker offers several favourable trading conditions,...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit WH Selfinvest Website
94

XGLOBAL Markets

XGLOBAL Markets Logo
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XGLOBAL Markets is an online financial trading broker that operates from Limassol, Cyprus. They provide traders with the MetaTrader 5 trading platform for trading over 77 trading products, such as forex, metals, energies, commodities, and indices. The broker also provides traders with some educational resources and a client support team to assist with any questions....
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit XGLOBAL Markets Website
95

Z.com

Z.com Logo
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Z.Com Trade is the global brand of the Japan-based GMO Financial Holdings Inc., which is regarded as the world’s largest retail forex provider by volume since 2012, with more than $1 trillion traded monthly. They are listed on the Tokyo Stock Exchange. Z.Com Trade offers forex, commodities, indices, cryptocurrency, metals, and energies for trading online....
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Z.com Website
96

Zenfinex

Zenfinex Logo
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Zenfinex is a UK-based retail trading broker that creates a suitable trading environment for both retail and institutional traders, providing them with multiple trading platforms to ensure seamless access to several financial markets, including the forex, indices, metal, stock, energy, and commodity markets. The broker operates the STP execution with no dealing desk intervention and...
Spreads
70
Liquidity
70
Commissions
70
Support
70
Regulation
80
Visit Zenfinex Website
97

AJ Bell Youinvest

AJ Bell Youinvest
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AJ Bell Youinvest is a UK brokerage firm that was launched in 2010 to provide a user-friendly mobile trading platform for competitively priced online trading, and, now, they serve hundreds of thousands of clients and have billions of assets under management. The broker has various investment services to choose from, such as stocks, shares, ETFs,...
Spreads
70
Liquidity
70
Commissions
70
Support
65
Regulation
80
Visit AJ Bell Youinvest Website
98

Alvexo

Alvexo Logo
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Alvexo is an online brokerage firm founded in 2014 by a team of market veterans. They offer online trading in more than 450 assets, including forex and CFDs on indices, stocks, bonds, metals, energies, and other commodities. The broker offers a variety of account types and flexible trading platforms, along with a range of trading...
Spreads
65
Liquidity
65
Commissions
65
Support
80
Regulation
80
Visit Alvexo Website
99

Amp Global

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Based in the United States of America, Amp Global is an online trading broker and a regulated futures commission merchant (FCM) that provides traders with around 50 platforms for trading various financial instruments, including futures, forex, options, CFDs, and more. Traders are provided with trading tools, educational resources, and the services of a customer support...
Spreads
65
Liquidity
65
Commissions
65
Support
70
Regulation
90
Visit Amp Global Website
100

Blackwell Global

Blackwell Global Logo
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Blackwell Global is a global broker that provides online financial trading services, offering multiple financial instruments, including forex, cryptocurrency, indices, and commodities. They provide clients with the intuitive MetaTrader 4 trading platform along with several trading tools, efficient customer support, and other services to help ensure that they deliver competitive trading conditions to traders. Clients’...
Spreads
70
Liquidity
70
Commissions
70
Support
65
Regulation
80
Visit Blackwell Global Website

How to find the best forex brokers?

To emphasise the importance of using a good forex broker, a forex trading system that performs well on one broker may not perform as well on another broker solely based on the difference in spreads, commission and slippage alone – that is how important it is to make the correct decision when choosing a forex broker. With so many forex brokers to choose from, it can seem like an overwhelming choice at first. However, there are some important factors worth considering which are listed below.

Spreads

The spread is the difference between the bid and the ask price which you must pay the forex broker for each trade that you make.

Low spreads will lower your forex trading costs and ensue that you get the best possible prices when entering and exiting trades. Low spreads are especially important when using a scalping strategy that relies on making just a few pips per trade as spreads can vary from 0 to a few pips depending on the forex broker that you choose. Low spreads can give great results on some forex trading strategies that would have performed badly with higher spreads.

The more liquid a currency pair, usually the lower the spread. You will find that most of the time, forex brokers will have low spreads on the EURUSD currency pair and other major currency pairs as they have the most liquidity – these pairs have the highest trading volume. More exotic currency pairs tend to have wider spreads due to less demand for trading them.

When choosing the best forex broker for you, you will see a list of spreads on the brokers website. Just remember, the lower the spreads you see, usually the better. The spread is less important when trading long term strategies where you hold a trade for days, but you can still save on your trading costs long term and increase winning percentage when using a forex broker with low spreads.

Most forex robots will have a maximum spread setting to stop trades being placed if the spreads are too high. There are fixed spread forex brokers available although these tend to include commission mark ups are widen spreads in times of certain volatility. Often, a variable spread broker will be cheaper to trade on than a fixed spread broker.

Slippage

Slippage is the difference between the price that you placed the trade and the price at which it is executed by your broker. For arguments sake, if you tried to enter a sell trade at 1.5000 and your broker executed your order at 1.5020, the slippage is 20 points (2 pips).

Along with the spread and commission your broker charges, slippage can also add to your trading costs especially if your broker is prone to slippage. Too much slippage can turn a winning strategy into a losing strategy especially if your trading system relies on scalping a few pips, the slippage could end up eating into all of your profits.

The larger the broker in terms of trading volume and liquidity pool, the lower the slippage. If you often see “off quotes” errors in your trading platform that means that your broker is often having so much slippage that orders may not get placed.

You will see that many forex robots have maximum slippage settings in them to prevent orders being placed if slippage is too large. You will also notice around news that your trades are more likely to incur slippage.

Liquidity Providers (LP’s)

Forex brokers use liquidity providers (LP’s) to provide liquidity pools to retail traders to trade on. You can check with your forex broker what LP’s they use and how many they have.

The higher the liquidity provided by the forex broker, the lower the spreads and slippage can be, this can lower your overall trading costs and also improve your trade execution speed, so you get in and out of trades at the best possible prices provided with minimal delay.

LP’s directly affect the spreads/slippage which as mentioned above are very important factors that can impact trading performance and lower trading costs.

Commission

When you place a trade, most brokers will charge a commission. This is part of the way they make their money and can provide the services that they do. Commission is usually around $1-$9 per standard lot.

The lower the commission your forex broker offers, the better. Commissions can eat into profits along with spreads and slippage. Thus, you should account for commissions when planning your trading strategy.

Especially in forex scalping systems, high commissions can eat into all profits so make sure you take this into consideration and use a forex broker with the lowest possible commissions. Some forex brokers even offer rebate programs where they pay back some of the commission.

Leverage

Leverage is effectively borrowing money to trade a larger amount than you would usually be able to without it. The higher the leverage the forex broker offers, the larger the lot size you will be able to trade as you will have more free margin.

However, be careful not to over leverage your account as you may end up trading lots unrealistically high that can cause your account to suffer large drawdowns and possible lead to a margin call or stop out.

In my opinion it is best to trade within your means and use sensible leverage which most brokers will offer. Forex brokers usually offer leverage from 1:1 all the way up to 1:500. If you are a risk taking trader then of course you may wish to use higher leverage for higher rewards.

Trading Platforms

When choosing a forex broker, you should consider the forex trading platform that they offer. By far, one of the most popular forex trading platforms is MT4 (MetaTrader 4) and you will find that nearly all forex robots run on MT4.

There are other trading platforms available but MT4 has one of the quickest learning curves and a ton of tutorials online. I find it very user friendly and the good thing about becoming an MT4 expert is that if you decide to switch forex brokers at a later date, the new broker you choose is likely to offer the MT4 trading platform whereas they may not offer the other trading platform you were using thus limiting your forex broker options.

Deposit / Withdrawal Methods

It is important to look into what deposit and withdrawal methods your forex broker uses. If you only want to make deposits and withdrawals via PayPal or Skrill, you should check that they offer these services.

If you are happy with bank transfers, then most forex brokers will offer this funding method. You will usually find that most forex brokers offer more than enough deposit / withdrawal methods. In fact, some brokers will offer so many options you will be spoilt for choice and they even have methods you have never heard of before!

Funding methods used will affect speed of transferring funds and also the security. I tend to look for faster methods that are very popular and secure.

Account Size

By account size I am referring to the minimum deposit required to open a forex trading account with a broker. Some forex brokers have minimum requirements for opening certain types of accounts. E.g. the forex brokers standard account may have a min $100 deposit requirement but it may not offer the lower spreads / commissions of the pro account that requires a $5,000 min deposit.

I have noticed in recent years that brokers seem to be lowering the min deposit requirements for accounts and of course, nearly all brokers will give you the option to try a demo account for free.

Just keep in mind that the demo account conditions can differ greatly from the real account conditions. This can make you believe a strategy will work when testing on demo but then you find it will not work when running it live once potentially different slippage, commission and spreads are added to the equation. Demo account trading is best used to improve your trading skills and emotions.

Account Types

You should consider the different types of trading accounts that the forex broker offers. Most brokers will have a selection of trading accounts to choose from that vary in min deposit size, leverage, commissions and spreads. As mentioned above, the lower the trading costs can be, the more you could save in the long term.

Support

When you have a support question for your broker you want it answered right away! It can be frustrating to have a technical question and have to wait days, even weeks for answers.

I have experienced this from certain brokers and it does not install me with confidence. What if it is an emergency! I find the best forex broker support teams are those who have live chat available 24/7 on the website. This way anytime you have a question, you can just hop onto the website and ask rather than having to wait hours for a response.

Consider the GEO location of the broker also due to time zone differences. If you open a support ticket on EST but your broker runs support during GMT hours, then you are more likely going to need to wait 12+ hours for a response. In saying that, most popular and larger forex brokers have support teams around the world ready to answer your questions.

Trading Styles

Some forex brokers do not allow hedging, scalping, arbitrage or other strategies they consider detrimental to business. Check with them that your trading style will be accepted before going through the signup process as it can save you wasting time. You also don’t want any nasty surprises down the line should you start making profit from a specific strategy that your broker frowns upon.

Regulation

Regulation is a key factor to consider when choosing your forex broker. I always like to make sure they are regulated by a governing body such as the FCA, ASIC, CySEC, CFTC, NFA, etc. This gives extra peace of mind that they are trading with a forex broker who has their best interests in mind.

There may also be certain securities in place to protect your funds if there is a market shock such as that which occurred with the swiss franc in 2015 that wiped some out.

Some of the more recognized Forex regulators for brokers are the FCA located in the United Kingdom, the Australian Securities and Investments Commission (ASIC), CySec out of Cyprus and the CFTC / NFA in the United States if the broker is allowed to offer services to US clients.

What is CySEC Regulation?

CySEC license is one of the most recognized among regulators. CySEC is a Cyprus-based institution and is part of the EU MiFID regulation.

Included amongst the responsibilities of CySEC are the control over the Cyprus Stock Exchange, provision of licenses to brokers/investment firms and the application of sanctions if and when necessary.

Most believe that CySEC impose less stringent control over forex brokers in comparison to some other regulators which can perhaps explain its popularity amongst overseas brokers.

What is FCA Regulation?

The Financial Conduct Authority (FCA) is a UK regulator. It can be difficult for UK based forex brokers to obtain a license from the FCA thus it usually means a broker which is FCA regulated has undergone a lot of due diligence from the regulator.

The FCA will thoroughly check the activities of the broker prior to allocating any license. If the rules implemented by the regulation of the FCA are not abided to, the FCA has the rights to impose sanctions or ban further activities of the broker.

What is ASIC Regulation?

The Australian Securities and Investments Commission (ASIC) is an independent Australian governmental regulatory body. ASIC provides corporate governance to control the trading of securities and derivatives (including Forex), grant insurance and to help ensure consumer protection. ASIC is also the primary regulator of the Australian Stock Exchange.

What is CFTC / NFA Regulation?

NFA & CFTC were incorporated to help regulate the US market activity of futures, options and forex. A broker wishing to operate in the US must be licensed by NFA and CFTC as it is considered compulsory. Although the regulatory environment in the US is considered amongst the strictest there is, this helps to limit the potential forex frauds as much if not more than anywhere else.

The primary goal of the NFA & CFTC is to ensure that US forex brokers stick to the rules with the upmost openness and transparency. In the USA, any forex fraud is sanctioned very seriously.

Countries Accepted

Logically, you should make sure that the forex broker accepts clients from your country. A lot of forex brokers are restricted to offer services to some client locations, specifically the US.

Further Reading

You may wish to read my forex broker reviews for more detailed information on each forex broker. You can also see my forex broker ratings list of all forex brokers and their rating. Happy trading!