Forex Broker Reviews

Not even the legends of the caliber of a Larry Williams or a Martin Schwartz will be very lucky in currency trading if the broker is not willing to cooperate; He has an overwhelming role in determining the type of experience he will have as a forex trader. The lack of clear rules and precedents creates great opportunities, but also great risks for those who are not prepared.
But are not there always two sides to a story? To help our visitors avoid the dark side of the currency, we have carefully evaluated the best deals in the online brokerage business and have prepared a selection of some of the most reputable and efficient brokers for their exclusive benefit. If you have plans to explore the exciting world of forex trading, we are sure you will find on our list an invaluable guide in the crowded and sometimes turbulent world of forex brokers. We recommend reading the review pages of our listed brokers for user reviews, for example HotForex Review page or AVATrade.







US Clients: No
Regulated: Yes

Your capital is at risk

– 40% New Member Bonus
– MIFID, ASIC, FSA & FSCA regulated
– Free Online Trading Coach



US Clients: No
Regulated: Yes

Your capital is at risk

– Regulated by FCA, CySEC, FSCA, IFSC and FSC
– Over 1M Registered Accounts
– More than 250 Trading Instruments
– MT4, MT5 and Web Trader Platforms
– Full ECN Trading Model
– Crypto-trading only avail. for clients of FT Global Limited.


ECN 0.1, Standard 1.6

US Clients: No
Regulated: Yes

Your capital is at risk

– Minimum Deposit $5
– Up to 1:500 leverage with micro-lots (0.01 size) available for everyone
– Scalping, hedging, trading on the news, and EAs are permitted at OctaFX.
– First Time Deposit Match: 50% Up To Any Max Deposit.


0.2 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– АSIC Regulated
– True ECN Execution with spreads from 0.0 pips
– Powerful 500:1 leverage and 0.01 micro lot trading
– Scalping, hedging and EAs are allowed
– MAM / PAMM accounts
– Established in 2005
– 10,000+ products to trade


From 0.0 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– $10 usd minimum deposit
– State of the art platform
– 24/7 support in more than 17 languages
– Free demo account



US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC regulated.
– Good for beginners with excellent trading academy.
– Beginner Friendly


From 0.8 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC, FCA, ASIC Regulated
– MT4, MT5, WebTrader platform
– $50% and 20% deposit bonus up to $5,000(t&c apply)



US Clients: No
Regulated: Yes

Your capital is at risk

– ASIC Regulated
– Well Established
– No Fees
– 24 hour support


From 0.1 pips


US Clients: No
Regulated: Yes

Your capital is at risk

– FREE Live trading signals delivered 3 times daily 5 days a week.
– Complete Education pack for novices and advanced traders alike. Designed to support long term – reliable trading.
– Alvexo’s New Webtrader – user friendly, tailored reports and built in trading signals.


From 0.6 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– Min Deposit $100
– Leverage Up to 1:500
– Accounts may be individual, joint, or corporate, with options for traditional or ECN type pricing


.5 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– FSCA Regulated
– MetaTrader 4 & Sirix platforms
– Education Tools
– Copy Trading is Available


from 0.5 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– Minimum Deposit $250
– Leverage 1:200
– Dedicated Account Manager


Fixed & Floating

US Clients: No
Regulated: Yes

Your capital is at risk

– Flexible leverage up to 500:1
– Multi award-winning New Zealand broker
– Institutional-grade spreads from 0.1 pips


From 0.1

US Clients: No
Regulated: Yes

Your capital is at risk

– Award winning platform.
– Beginner Friendly.
– Well established, safe and trusted.



US Clients: No
Regulated: Yes

Your capital is at risk

– Low min. deposit
– Easy deposit and withdrawals
– A lot of pairs offered



US Clients: Yes
Regulated: Yes

Your capital is at risk

– Trusted Global Market Leader
– Online FX & CFD Trading
– 180+  Global Markets, 84 FX pairs, 65 shares, 17 popular indices and more
– Forex, Indices, Commodities, Equities & Bitcoin
– Available to US traders


1 pip

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC, FSCA, FSA, DFSA, FCA Regulated
– MetaTrader4 & 5 platform
– Proprietary debit card for quick withdrawal applications!


From .2 pips


US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC, DFSA, FCA, FSCA, SIA Regulated
– MetaTrader4 , MetaTrader5, cTrader, FxPro SuperTrader
– 10+ Years in business
– 50+ International Awards


From 1:1 to 1:500

*Broker offers variable differentials that are subject to fluctuating market conditions. Spreads tend to be narrow in times of deep liquidity, but they can also expand significantly in times of low liquidity.

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More country specific forex broker listings:

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Forex Brokers in Australia

Forex Brokers in the UK

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Finding the Best Forex Broker – FAQ

Finding the best forex broker for your needs requires a little research. Hundreds of online brokerage firms now compete on their own, so there are many options to choose from. See our above recommended list above, or read our Frequently Asked Questions below with excellent points to consider before choosing your broker, or see this extensive five-step guide on how to choose a forex broker.

Finding the best forex broker that has a fast execution capacity, a reliable trading platform and that you can trust in the deposit of your account may be the first thing you want to make sure. Other sweeteners may include account opening bonuses and other functions such as mobile commerce and SMS market alerts.

Basically, you want a forex broker that you can rely on to manage your money and your transactions, so that you can continue with the business of dealing with forex without worries. Anyway, to simplify the process of searching for a broker, the above list covers most of the key points of comparison among forex brokers so you can be better prepared for a successful search.

At the bottom of this page, you will find many more brokers who did not appear on the main list, you can still read our comments about them and share your comments or share your experience with them.

But first we will look at some of the criteria and features you should look for when searching for the best forex broker for you.


Most reputable online forex brokers take the step of submitting to regulation by one of the leading financial regulatory agencies operating in their home country. Sometimes, they will even be regulated by more than one agency. This regulation gives you the security of knowing that the broker’s operations are being supervised by an independent authority in order to keep the business honest.

Is there a benefit to where a broker is located?

The location can make a big difference, especially if the regulatory regime in the country is the best in the line. The most advantageous location should be reserved for brokers in the United Kingdom, since London is the center of the currency business.

Forex Trading in the UK

At the beginning of the last century, almost 50% of the currencies of the world were made with the pound sterling. Today, the daily turnover of currencies in the London market represents 41% of the world, more than double that of the United States with 19%. If you choose a reputable broker in the UK, you can be sure that the firm can count on a large group of experienced and professional staff in the UK.

From a regulatory perspective, UK currency brokers must also comply with one of the strictest regulatory bodies, the Financial Conduct Authority (FCA). Once again, the group of UK employees will be very aware of the best business practices and compliance issues, another reason to choose a UK broker, if possible. However, one must be diligent in choosing a broker who claims to have offices in London, since the marketing aspect of this location has caused many brokers abroad to establish a “shell” presence in the UK to gain their trust, but without The benefits mentioned above. If you prefer a UK broker, make sure they are based in London and have a significant presence there.

Forex Trading in Australia

The Australian Forex/CFD/Cryptocurrency landscape is an intricate one, where at least three different types of brokerages peddle their services. There are unlicensed, unregulated brokerages with a global reach, whose services may indeed be accessible to Australian traders too. Then, there are financial service providers who are not based in Australia, but who are licensed by ASIC to peddle their products there. Finally, there are Australian born-and-bred operations, firmly under the authority of ASIC.

If you are looking for a forex broker in Australia or that offers services for Australians then make sure to go here.

Data Security

When you enter or store vital personal information online, you may be subject to falling into hostile hands that can use it for your own personal benefit. Consequently, a main priority when choosing a broker is that they encrypt all the data entered in online forms using the industry standard SSL encryption or better.

Another key issue involves the safe storage of data so that it is not lost in the event of a disaster. Many online forex brokers use duplicate data farms with high security to ensure the security of your account information.

Dealing Spreads

Many daily trading strategies do not succeed in the long run if your account does not have access to competitive trading spreads. The differential is simply the difference between the price of the offer and the offer price for a particular currency pair and should not be greater than five pips at the major and major crosses, with wider differentials often observed at minor crossings and exotic coins.

Commissions and Fees

Sometimes, brokers are not content with you dealing with their spreads. In this case, they can charge a commission or fee for each transaction. Sometimes, these are calculated by transaction or by trading volume. Additional fees may apply when making withdrawals or deposits, so be sure to verify that information to minimize your transaction costs.

Order Types

Most currency brokers handle the basic types of market, stop and limit orders. However, some brokers also offer support for OCO (one-canceels-the-other) and final stops. If any of these more specialized types of orders would be appropriate for your trading plan, then make sure that your chosen agent backs them up and make sure you fully understand the limitation of these different types of orders..

Currency Pairs

Since more currency pairs often mean more opportunities to make a profit, you’ll want to make sure your forex brokers offer all the pairs in which you might be interested in making transactions. Some traders also like to have access to precious metals such as gold and silver, as well as oil, especially if they are going to market commodity currencies such as AUD and CAD, whose exchange rates may depend on fluctuations in prices. the prices of basic products.

Deposit Required

Unless you are only interested in opening a demo or practice account with the forex broker, they will usually require a minimum deposit so you can start trading forex. Often, the more money you deposit, the more functions you have access to or the more stringent your negotiation spreads will become. Be sure to thoroughly investigate the agent before sending a deposit.

Account Types

Account types vary considerably among brokers, but most offer demo accounts for practice trade, mini accounts for newer operators with a low minimum initial deposit, standard accounts for more experienced operators with a moderate deposit, and finally, VIP accounts for larger initial deposits. Here is a list of forex brokers that offers demo accounts.

In addition, the functions offered with each type of account vary widely among the various currency brokers, so be sure to see which trusted broker will offer you the best offer for the initial deposit you have available.


Leverage refers to the amount of a position that you can control with a certain amount of funds allocated to it. Forex brokers currently offer leverage rates of up to 500 to 1. What this means is that you can control a $ 50,000 trading position with only $ 100 allocated from your portfolio. Note that in the US UU The maximum leverage is 50: 1 for seniors and 20: 1 for minors.

Naturally, amplifying your risk through the use of leverage can result in higher profits as well as larger losses, so be sure to use leverage wisely and avoid operating beyond your means.

Margin Requirements

Even though currency transactions are exchanges and you do not buy an asset as an action or product, when the exchange rate moves, it creates a credit risk for the counterparty that shows a gain in the transaction. As a result, most forex brokers require their clients to deposit a certain amount of funds on deposit to cover such potential losses. This is known as the corridor margin requirement.

Since margin requirements vary among brokers, you’ll want to make sure that the broker you choose has guidelines you can live with. In addition, some brokers automatically close commercial positions when the amount of margin in your account is exceeded by commercial losses, or according to other criteria, so be sure you understand the implications of those policies for your business.

Trading Platforms

Most of the better forex brokers offer their own proprietary trading platforms for you to use to execute forex transactions with and to keep track of the market. These usually either take the form of web-based platforms that use access via your Internet browser or client-side platforms that you download to, install and run on your personal computer.

In addition, some brokers support independent trading platforms like the popular MetaTrader 4 platform that can be obtained free of charge and which many commercial forex trading robots are designed for.

MT5 – The latest MetaTrader Platform
MT4 – The Classic MetaTrader Platform

Mobile Trading

Some forex traders require the convenience of operating and keeping in touch with the forex market through their mobile phone or other mobile device. Many brokers provide such services, so if this is important to you, check what each broker offers in this regard and if your software will work with your device.

Mobile commerce

Algorithmic Trading

Forex traders increasingly want to automate their business plans or algorithms to free up their time for other efforts. They often do so using a programming language to record their decision process in an algorithmic format that can then be automatically executed by forex trading platforms that support this capability.

If you think you might want to automate your negotiation plan, check with the brokers you are considering to see if they accept this type of negotiation and how they do it.

ECN Brokers

ECN brokers are brokers who use an electronic communications network to provide price quotes and business opportunities to their customers. The best way to imagine a NCE is as an exchange. Through an ECN, the broker puts several market participants in contact, directly. What that means is that it makes operations coincide so that a seller always finds a buyer and vice versa.

CFDs – Contracts for Differences

These days, CFDs are fashionable when it comes to online commerce. These Contracts for differences offer traders (and brokers) several advantages, which make the configuration really attractive.

A CFD is, in essence, an agreement of futures contracts, between a broker (the CFD provider) and a merchant (the customer), whose purpose is the difference between the current value of a traded asset (which can be almost any thing, given the impressive market coverage of this financial derivative and its value at the end of the contract Find more information on CFD brokers here.

Market Alerts

Many brokers offer SMS or other types of market alerts to their customers. If you think this might be important for your business, look for this feature.


Those who are new to the forex market will want to have better access to both operations support and technical support. See what services each corridor provides and whether it will be sufficient for its purposes.

Information Resources

Newer operators often require educational material on the currency market and general trade to start trading currencies on the right foot. If this is important to you, investigate what the brokers you are considering have to offer in this regard.

In addition, many brokers provide sophisticated news, such as Reuters, for example, as well as proprietary market comments and other timely information.

Dealing Desk Access

Some operators like to talk with a distributor or personal advisor in the corridor to obtain information and advice about the internal market. Others like to be able to make transactions over the phone if necessary. If any of these options make sense to you, check with your potential brokers if access to the trading desk will be available to someone with your initial deposit in advance.

Managed Forex Accounts

There are three types of managed forex accounts, individual accounts, grouped accounts and PAMM accounts. Here is a list of recommended managed forex accounts that offer this type of forex accounts.

Read our reviews of more currency brokers that are not on our list above: