Forex brokers 4

Top Regulated Forex Brokers.


Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.


Huzefa Hamid.


| Updated on December 26, 2022.


With many hundreds of Forex / CFD brokers to choose from globally, finding the right broker for you can seem an impossible challenge. That’s why we at DailyForex keep our team of industry analysts at work, to make choosing the best broker easier for you.


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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


Best all around broker.


High floating leverage + fast execution.


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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


ECN-style trading.


Daily market research and Autochartist access.


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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


Trade 1,000+ financial instruments.


Experience low, competitive spreads.


Multiple funding and swift withdrawal options.


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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


High level regulation in multiple jurisdictions.


Impressive range of tradeable assets including vanilla options and gold options.


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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


Solid broker for scalping and hedging.


Institutional-style trading opportunities for retail traders.


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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


Highly-competitive cost structure.


24/7 customer support.


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78% of retail CFD accounts lose money.


The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


Best social trading platform on the market.


Excellent choice of options for crypto traders.


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78% of retail CFD accounts lose money.


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CFD service 77% lose money.


The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


One of the best platforms for CFD traders.


Trailing stop losses.


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CFD service 77% lose money.


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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


Best ECN execution on the MT4 platform.


Excellent implementation of cTrader and Smart Trader Tools.


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The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.


Top US Forex broker.


Over 17,000 tradeable assets.


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Forex Broker Reviews at a Glance.


FXTM.


5.0/5 in this category.


In Summary.


Best all-around broker with high floating leverage and fast execution.


In Summary.


Best all-around broker with high floating leverage and fast execution.


We have made FXTM one of our top-rated brokers because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.


Excellent commission-based Forex pricing environment and transparency Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app Quality market research and educational content for beginner traders Proprietary copy trading platform, low minimum deposit, and high leverage.


Limited choice of cryptocurrencies and commodities.


FP Markets.


5.0/5 in this category.


In Summary.


ECN trading with leverage up to 1:500.


In Summary.


ECN trading with leverage up to 1:500.


fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies . Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin. fpmarkets offers an unusual hybrid ECN/STP execution model , meaning their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.


Choice of trading platforms and auxiliary trading tools Very competitive cost structure and excellent asset selection Low minimum deposit requirement and leverage of up to 1:500 Well-regulated and trustworthy.


Availability of Iress geographically restricted.


Eightcap.


4.5/5 in this category.


In Summary.


Competitive pricing + excellent daily videos.


In Summary.


Competitive pricing + excellent daily videos.


Eightcap Pros & Cons.


Low minimum deposit and high leverage of up to 1:500 Competitive cost structure Excellent technology infrastructure and seasoned management team Daily research and quality educational content.


Limited leverage in some areas.


AvaTrade.


4.5/5 in this category.


In Summary.


Highly regulated, choice of fixed or floating spreads.


In Summary.


Highly regulated, choice of fixed or floating spreads.


AvaTrade is one of the largest Forex / CFD brokers and well-known for offering their clients a choice of fixed or floating spreads. They have a very high and strong level of regulation. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava offers maximum leverage on Forex currency pairs as high as 400 to 1. AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. 2 bonds and 6 ETFs are also on the menu.


High-quality educational offering via SharpTrader Excellent choice of trading platforms catering to various trading needs Broad asset selection and cross-asset diversification opportunities Well-regulated and trusted broker with oversight from a central bank.


Trading costs competitive but nothing special.


BlackBull Markets.


4.5/5 in this category.


In Summary.


Best ECN trading environment, with scalping and hedging.


In Summary.


Best ECN trading environment, with scalping and hedging.


BlackBull Markets was founded in 2014 in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia . BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should be sufficient for those traders with more focused strategies not requiring wide diversification .


ECN/NDD execution model with deep liquidity Institution-grade pricing for retail traders via proprietary price aggregation ZuluTrade and Myfxbook for social trading Leverage of up to 1:500.


Limited deposit options.


OctaFX.


4.5/5 in this category.


In Summary.


A commission-free broker with a proprietary copy trading service.


In Summary.


A commission-free broker with a proprietary copy trading service.


Founded in 2011, OctaFX is a “Straight Through Processing” (STP) broker, which means they do not have an internal dealing desk. They simply connect buyers and sellers directly. With this model, OctaFX aims to be more cost-effective than anyone else in the market. They offer low spreads and claim 97.5% of trades are executed without slippage.


OctaFX offers their clients a choice of three Forex trading platforms: the world’s most popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). All of these can be traded as a desktop application, and on Android and iOS devices.


OctaFX is an unregulated broker but continues to earn the trust of traders around the globe, with more than 1,500,000 accounts opened. One reason for the ongoing success of this market maker is appealing bonus campaigns. This broker paid out almost $3,000,000 in bonus funds. OctaFX offers traders the MT4 and MT5 platforms, and a proprietary mobile trading platform. OctaFX additionally grants their clients Autochartist, but traders require a Silver Level in the Status Program. Traders have a choice between fixed and floating spreads, and the overall cost structure remains competitive.


Asset selection remains the distinct weakness at OctaFX, making it most suitable for new retail traders. A series of short educational articles offers a basic Forex introduction, and this broker maintains an excellent arsenal of research and analytics tools.


OctaFX Pros & Cons.


Well-regulated globally, with the Bank of Ireland as the primary regulator Low minimum deposit and in-depth educational tools Wide asset choice across seven sectors Superior mobile trading platform High maximum leverage.


Low asset selection.


eToro.


4.5/5 in this category.


In Summary.


Best broker for social traders and crypto traders : 78% of retail CFD accounts lose money.


In Summary.


Best broker for social traders and crypto traders : 78% of retail CFD accounts lose money.


eToro was founded in the early days of the online retail Forex era, in 2007 – this broker occupies a unique space as the king of social and copy trading. eToro has a long track record and unique reputation to protect , although this image is more focused on its copy trading model than on any other individual feature, except maybe its special relationship with cryptocurrencies. eToro is regulated in Cyprus, the U.K., Australia, and the United States although its U.S. offering is firmly differentiated from its offering to the rest of the world. eToro is a leading cryptocurrencies CFD broker. Following its 2022 acquisition of Danish blockchain company Firmo and Belgian crypto portfolio tracker application Delta, it released its cryptocurrency wallet for mobile devices.


Active investment community ideal for social trading Dedicated tools for social trading Broad cryptocurrency selection Expanding educational offering for beginner traders.


Internal withdrawal fees Low retail leverage and higher minimum deposits, but within a reasonable range.


Plus500.


4.5/5 in this category.


In Summary.


Wide range of CFDs + trailing stop losses.


In Summary.


Wide range of CFDs + trailing stop losses.


Plus500 is an Australian company founded in 2008, with main offices located in Sydney. The company’s sophisticated trading platform features over 2000 instruments, and allows clients to trade on movements in the price of shares, indices, forex, commodities, cryptocurrencies, ETFs and options without having to buy or sell the underlying instrument. For the Australian market, Plus500 is licensed to offer CFDs through ASIC (AFSL #417727), and through the FMA (FSP #486026), for licensed CFDs in New Zealand. Plus500 trading services are also available in South Africa (Authorised Financial Services Provider #47546). Plus500 Ltd is listed on the London Stock Exchange’s Main Market for Listed Companies, with de facto headquarters located in Haifa, Israel. In its original form, the Plus500 trading platform was only available to PC users. However, in 2010, Plus500 launched a new web-based trading platform update, which allowed clients to trade using Windows PC, Mac, Linux, as well as most smartphones operating on either iOS or Android. Since its launch in 2008, Plus500 has placed considerable emphasis on its technological development through continuous innovation to obtain a technological edge in the market. In 2021, Plus500 opened a new R&D centre in Tel Aviv, Israel, aimed at increasing its scope, particularly in mobile trading technologies. Plus500AU Pty Ltd holds all client money in a segregated trust account, and offers users the option of a demo account for trial purposes.


Pepperstone.


4.5/5 in this category.


In Summary.


Great ECN execution on MT4 platform.


In Summary.


Great ECN execution on MT4 platform.


Pepperstone, founded in 2010 and headquartered and regulated in Australia, the U.K., and Dubai , is probably the most well-known ECN Forex broker in the world. As an ECN broker, Pepperstone offer raw spreads and low commissions . Taken together, Pepperstone’s “Razor” account offers one of the most competitive costs of trading in Forex that you will find anywhere. In addition to their global headquarters in Australia, Pepperstone also have presences in London, England, where they enjoy full regulation by the Financial Conduct Authority (FCA), and in Dubai, where they are regulated by the Dubai Financial Services Authority (DFSA).


Excellent choice of trading platforms consisting of MT4/MT5, and cTrader Market-leading MT4/MT5 upgrade package, Autochartist, and API trading Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade Leverage of up to 1:30 and superb trade execution.


Demo accounts have 30-day time limits.


IG Markets.


4.0/5 in this category.


In Summary.


No withdrawal fee.


In Summary.


No withdrawal fee.


IG is a global giant in the world of retail brokers and its presence is unrivaled. That means IG can bring resources to you as a US trader that is unparalleled in the industry. To give you an idea of IG’s scope, here are some quick facts: IG serves over 239,000 clients worldwide, has access to over 17,000 markets, and has been in operation since 1974 (over 45 years). In a world where US Forex brokers come and go every year, maintaining a consistent presence decade after decade demonstrates a deep commitment to the industry. Having such a large presence, (for example, IG executed 86 million trades through its own trading platform alone in 2022) means IG can invest in leading technology for its execution and trading platforms that is reliable and quick. It also means IG can invest in resources such as its learning academy and highly trained customer support.


Y ou can trade Forex through IG with a Direct Market Access account. The Direct Market Access account has a variable commission but with improved liquidity and pricing.


As a US trader, IG offers you their own award-winning web-based platform and mobile trading apps for iOS and Android devices. The average execution time for trades on their own platform is a lightning-quick 0.014 seconds. IG also offers US Forex traders a range of third-party Forex trading platforms including the popular MetaTrader (MT4), Progressive web app, ProRealTime, and L2 Dealer (which offers Direct Market Access). IF you choose the MT4 platform through IG, you will have access to a suite of IG’s own custom MT4 add-ons as well as the standard indicators .


For those that want signals directly from their US Forex broker, IG has teamed up with Autochartist and PIA First to provide traders with technical and fundamental signals.


IG is also considered one of the best US Forex brokers for beginners because it has a comprehensive online trading academy with on-demand videos and live webinars to give you the knowledge you need to succeed.


IG’s customer service gives expert support 24 hours-a-day, six days a week.


In summary, as a US trader, if you want the best overall US Forex broker with great platforms, execution, and customer service, IG would be a choice that is hard to beat.


IG Markets Pros & Cons.


Broad asset selection for Forex traders Quality choice of trading platforms, including MT4 Autochartist signals integrated with the proprietary web-based platform Superb educational tools for beginner traders.


Limited deposit and withdrawal methods Higher minimum deposit requirement, but within a reasonable demand.