Forex brokers 8

Forex Brokers 2023.

Tobias has been trading for well over 25 years. From traditional stock and equity investments, to higher risk vehicles such as binary options, Toby has seen many trading platforms, charts and trades. He contributes on a regular basis to, both as a writer, and platform reviewer. He is based in the UK.

Learn about our writers.

Updated October 21, 2022.

Fact checker:

William Berg.

After leaving university, William worked as an external consultant for IPO:s on the nordic market. He has done consulting for fintech working with simplifying payments and POS information gathering for retailers.

William has also helped a leading trading software and a number of different forex trading software with their localization. He has worked as a writer and fact-checker for a long row of different web publications.

Attended: Gothenburg School of Business, Economics and Law at the University of Gothenburg , Moscow State University.

Read why you can trust the information on

Which forex broker is the best? Our list of top forex brokers will help you find the best forex trading platform for you. explains everything you need to know, with honest in-depth forex broker reviews that includes which trading platforms the broker provides access to. In our list of the best forex brokers, we have considered a wide range of factors including regulation, fees and spreads, payment options, forex trading platforms, charting tools, analysis options and a lot more.

The Best Forex Brokers.


Reliable and affordable trading since 2009. Join over 900,000 others trading on 1000+ CFD products. Trade Forex CFDs from 0.0 spreads on our RAW account through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account less than 2 minutes.

GBPUSD Spread 0.0 via ECN EURUSD Spread 0.0 via ECN EURGBP Spread 0.0 via ECN Total Assets 1000+ Leverage 1:500 Platforms MT4, MT5.

IC Markets.

Trade Forex on 0.0 pip spreads with one of the world's leading forex brokers - IC Markets. Great choice for serious traders. ASIC regulated.

GBPUSD Spread 0.5 pips EURUSD Spread 0.1 pips EURGBP Spread 0.5 pips Total Assets 56+ Leverage ASIC and CySEC -1:30, FSA - 1:500 Platforms MT4, MT5, cTrader.


Avatrade offer 50+ currency pairs and their spreads are some of the best among any broker. They are regulated across 5 continents.

GBPUSD Spread 1.0 var EURUSD Spread 0.7 var EURGBP Spread 1.7 var Total Assets 50+ Leverage 1:400 Platforms MT4, MT5. are a leading FX broker. Offering a large range of currency pairs and some of the tightest spreads in the industry.

GBPUSD Spread 1.0 Var EURUSD Spread 0.8 Var EURGBP Spread 0.8 Var Total Assets 80+ Leverage 1:200 Platforms MT4.


BDSwiss offer 250+ Shares, Indices, Forex, Commodities and Cryptocurrencies markets via CFDs. With spreads from 1 pip and an award winning app, they offer a great package.

GBPUSD Spread 1.7 pips EURUSD Spread 1.2 pips EURGBP Spread 1.3 pips Total Assets 50+ Leverage 1:30 Platforms MT4, MT5.

XM. deliver ultra low spreads across a range of forex markets. Flexible lot sizes while Micro and Zero accounts accommodate every level of trader.

GBPUSD Spread 2.1 pips (var) EURUSD Spread 1.6 pips (var) EURGBP Spread 2 pips (var) Total Assets 55+ Leverage 1:500 Platforms MT4, MT5.


Trade 40+ major, minor & exotic pairs with an award winning platform. Zero commission and tight spreads.

GBPUSD Spread 1.0 but 0.0 on Raw Account EURUSD Spread 1.0 but 0.0 on Raw Account EURGBP Spread 1.0 but 0.0 on Raw Account Total Assets 40+ Leverage 1:30 - 1:500 depending on local regulation Platforms MT4, MT5.


Trade on close to 20 currency pairs, including crypto pairs. 'Covest' and follow experienced traders.

GBPUSD Spread Variable EURUSD Spread Variable EURGBP Spread Variable Total Assets 18 Leverage 1:200 Platforms Own.


Pepperstone offers spreads from 0.0 pips on the Razor account and has 60+ pairs available to trade. Lots start at 0.01. CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

GBPUSD Spread 0 pips (Via Razor) EURUSD Spread 0 pips (Via Razor) EURGBP Spread 0 pips (Via Razor) Total Assets 60+ Leverage 1:500 Platforms MT4, MT5, cTrader.


Trade major, minor & exotic currency pairs 81.6% of retail investor accounts lose money when trading CFDs with this provider.

GBPUSD Spread from 0.6 pips (floating) EURUSD Spread from 0.2 pips (floating) EURGBP Spread from 0.5 pips (floating) Total Assets 70+ Leverage 1:30 - 1:400 Platforms MT4.

IQ Option.

IQ Option offer forex trading on a range of currencies. Spreads are on the high side and the brand do not excel in this area Risk Warning: Your Capital Might Be At Risk.

GBPUSD Spread 5 pips EURUSD Spread 14 pips EURGBP Spread 15 pips Total Assets 250+ Leverage 1:500 Platforms Own.

IG Group.

Trade a range of major, minor and exotic currencies.

GBPUSD Spread from 0.589 pips EURUSD Spread from 0.165 pips EURGBP Spread from 0.540 pips Total Assets 90+ Leverage 1:30 Platforms MT4.


Trade with spreads as low as 0.0 pips and $0 commission. Up to 1:500 leverage available.

GBPUSD Spread 1.0 pip average EURUSD Spread 0.2 pips average EURGBP Spread 0.5 pips average Total Assets 70+ Leverage 1:500 Platforms MT4. offer a long list of forex CFD pairs for trading. All have competitive spreads. The firm also ensures negative balance protection 87.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

GBPUSD Spread 0.00013 pips (var) EURUSD Spread 0.00007 pips (var) EURGBP Spread 0.00015 pips (var) Total Assets 130+ Leverage 1:30 Platforms MT4.


Plus500 Offer forex trading via CFDs with tight variable spreads and a range of well over 70 currency pairs. Free Unlimited Demo Account. 79% of retail CFD accounts lose money.

GBPUSD Spread Variable EURUSD Spread Variable EURGBP Spread Variable Total Assets 70+ Leverage 1:30 Platforms Own. deliver advanced forex trading via the MetaTrader5 platform and 3 Account Types.

GBPUSD Spread 1 pip var EURUSD Spread 0.5 pip var EURGBP Spread 1 pip var Total Assets 45+ Leverage 1:1000 Platforms MT4, MT5.


Videforex offers leveraged trading on major, minor and exotic currency pairs.

GBPUSD Spread Floating from 0.1 pips EURUSD Spread Floating from 0.1 pips EURGBP Spread Floating from 0.1 pips Total Assets 35 Leverage 1:500 Platforms Own.

Forex trading is offered on 55 pairs, with spreads from 1 pip on standard accounts and from 0.8 pips on the classic ECN account.

GBPUSD Spread From 0.8 pips EURUSD Spread From 0.8 pips EURGBP Spread From 0.8 pips Total Assets 55 Leverage 1:300 Platforms MT4.


Trade CFDs on 70+ forex pairs with tight spreads and advanced investing tools.

GBPUSD Spread 2.39 pips (Ave) EURUSD Spread 1.58 pips (Ave) EURGBP Spread 1.74 pips (Ave) Total Assets 70+ Leverage 1:200 Platforms MT4, MT5, cTrader.


eToro offers a selection of major, minor and exotic currency pairs. Clients can speculate on FX from the eToro trading app. 79% of retail investor accounts lose money when trading with this provider. You should consider whether you can afford to take the high risk of losing your money.

GBPUSD Spread 2 pips EURUSD Spread 1.5 pips EURGBP Spread 1.5 pips Total Assets 49 Leverage - Platforms Own.


Trade over 60 forex pairs with advanced analysis tools.

GBPUSD Spread 3 - 5 pips EURUSD Spread 2 - 4 pips EURGBP Spread 4 - 5 pips Total Assets 65+ Leverage 1:30 Platforms Own.


Trade on the foreign exchange market with up to 1:400 leverage.

GBPUSD Spread 0.8 EURUSD Spread 0.5 EURGBP Spread 0.8 Total Assets 50+ Leverage 1:400 Platforms MT4, MT5.


Trade a long list of major, minor and exotic currencies.

GBPUSD Spread 1.3 EURUSD Spread 1.3 EURGBP Spread 1.5 Total Assets 80+ Leverage 1:30 Platforms MT4, MT5.


Trade currency pairs with tight spreads and 1:500 leverage.

GBPUSD Spread 1.2 EURUSD Spread 0.9 EURGBP Spread 0.9 Total Assets 60 Leverage 1:500 Platforms MT4.


Trade FX with high leverage levels.

GBPUSD Spread 2 EURUSD Spread 1.4 EURGBP Spread 1.6 Total Assets 40+ Leverage 1:2000 Platforms MT4, MT5, cTrader.


Trade on FX pairs with 1:500 leverage.

GBPUSD Spread 0.1 - 1.8 pips (depending on account) EURUSD Spread 0.1 - 1.2 pips (depending on account) EURGBP Spread 0.5 - 1.7 pips (depending on account) Total Assets 71 Leverage 1:100 - 1:500 Platforms MT4.

Moneta Markets.

Trade with leverage on a range of FX pairs.

GBPUSD Spread Floating EURUSD Spread Floating EURGBP Spread Floating Total Assets 45+ Leverage Up to 1:500 Platforms MT4, MT5.


Trade FX pairs with tight spreads & leverage.

GBPUSD Spread From 0.5 EURUSD Spread From 0.6 EURGBP Spread From 0.5 Total Assets 40+ Leverage 1:200 Platforms MT5.


OctaFX offers leveraged trading on currencies with floating spreads from 0.6 pips.

GBPUSD Spread 1.1 EURUSD Spread 0.7 EURGBP Spread 2.1 Total Assets 35 Leverage 1:500 (Global), 1:30 (EU) Platforms MT4, MT5.

EZ Invest.

Take positions on the foreign exchange market with leveraged trading products.

GBPUSD Spread 1.1 EURUSD Spread 0.6 EURGBP Spread 2.3 Total Assets 50+ Leverage 1:30 Platforms MT4.

How To Find The Best Forex Brokers.

Below we’ve listed the main criteria for finding the best forex brokers 2023. We will expand on each area later on in the article.

Regulation – A proper regulatory framework is key. It gives you the reassurance that the forex platform is operating within the rules the governing body has assigned. This provides an element of trust between broker and client. It guarantees that the broker offers honest trading and that they do not try to scam their clients. Choosing a broker that is regulated by a trusted regulatory body is the most important factor when choosing a broker to open an account with. All top Forex trading platforms are regulated by high-trust regulators. Fees/Commission – This is the second most important part of your global forex broker appraisal. One forex platform may charge you a tenth of the price for the same trade vs another. Take note of “hidden” fees, such as withdrawal or inactivity fees. Lower fees and commissions make it a lot easier to make a profit when trading on the forex market as high fees otherwise risk eating up your profits. Reputation – People talk. It is well worth listening to what traders say about their forex broker. Is it their favorite broker or are they dissatisfied with it. The top forex brokers generally have a good word of mouth. Operating Model – Forex brokers usually operate one of two operating models: dealing desk or no dealing desk. A dealing desk broker owns its order book, meaning they create liquidity for clients. These are known as ‘market makers’ because if there is no one to take the other side of a trade (i.e buy what you’re selling), they’ll take it themselves. No dealing desk brokers (also known as ECN brokers) connect to a larger market where filling orders is not an issue. Market Coverage – The selection of assets on offer. Does the forex platform provide the FX pair or product you’re looking for? Accessibility and Affordability – Beginner forex traders and small-timers need love too. You should never be forced into making a minimum deposit that you cannot afford to lose. Minimum deposits range from $10 to $1000 (or the £/€ equivalent). It might be worth investing more to get access to a platform that suits you better, so stay open-minded. Platforms – The forex trading platform and the tools it provides are your primary weapons in your personal war for profits. Personal preference will play a large part here, as many platforms offer very similar services, but look and feel very different. Remember many platforms are configurable, so they can be tailored to suit your needs. Strategies – Not all forex brokers allow every strategy. For instance, it’s common to see limitations on scalping, hedging and automated trading strategies (EAs). If this is what you’re interested in, you’ll need to check before you sign up that you’re selecting a forex broker suitable for scalping, for example. Mobile Apps – Being able to trade on the go may be important. Some mobile apps are superior to others. Usually, the features available on desktop are not matched on a mobile app, so access to both is recommended. Deposits and Withdrawals – The ability to move funds to and from the platform, quickly and preferably cheaply is key. Forex brokers with instant deposits for debit/credit cards and PayPal are common, so look out for these where possible. Customer Support – You need someone to talk to if you run into problems. Competent support is a must. From opening an account, to help with the platform – customer support is important. Company Background and History – Knowing the past exploits of forex brokers can give you a better idea of what it is up to now. A listed company has to publish numerous elements of information about their balance sheet, for example. Education – It never hurts to improve your understanding of how the forex markets work. Some brokers offer extensive educational tools that will enable you to take advantage of movements when they occur. Account Opening/Registration – Is it a simple process to open an account? Do clients need to be verified? These processes are not always the same and might be worth considering if opening an account has been problematic in the past.

Broker Costs.

The services that forex platforms provide are not free. You pay for them through spreads, commissions and rollover fees.

The fee structures differ from one forex broker to another, and even from one account type to another. There are two widely used basic setups.

Spread Only – All other fees (with the exception of the rollover rate) are included in the spread Blend Of Fees – Besides the spread, a commission may be charged as well.


Most forex brokers make money through spreads on currency pairs. This can be either fixed or variable. Fixed spreads are always constant, regardless of market volatility. Variable spreads change, depending on the traded asset, volatility and available liquidity.

Daily spreads may only differ slightly among forex platforms, but active traders (or even hyper-active traders) are opening positions so frequently that small differences can mount up.

Traders should always be looking for forex brokers with the lowest spread. 1 pip fixed spread forex brokers are out there and ECN brokers may even deliver zero spreads.


A commission-based fee structure usually suits other tradable assets, such as stocks and shares. However, you may encounter instances where a commission is charged by forex brokers. Use a profit calculator to understand whether low spreads make up for this.

Rollover Rate.

Forex positions kept open overnight incur an extra fee, known as a rollover rate. This charge results from the difference between the interest rates of the two currencies.


While most forex brokers offer an impressive-looking selection of currency pairs, not all of them cover minors and exotics.

For example, if you want to trade Thai Bahts or Swedish krona, you will need to double-check the asset lists and tradable currencies. These currencies are less commonly traded and therefore may not be offered by all platforms.

If you’re interested in major pairs (see below), then all brokers will cater for you.

The Aussie dollar and Swiss Franc, while considered ‘minor’ pairs, are often traded in high volume. You can read more about those here: AUD/USD or USD/CHF.

That said, there are brokers out there that will truly go out of their way to cater to their traders’ needs. Some will even add international exotics and currency markets on request. Such flexibility is obviously a major asset.

What About Crypto?

Cryptocurrency pairs are ubiquitous nowadays. Crypto/fiat and crypto/crypto pairings are both popular. This allows retail traders to match real currencies against alt-coins in order to profit from exchange rates.

The massive volatility associated with these products makes scalping a viable strategy for profitability.

Forex brokers do not usually offer spot crypto, instead, they’ll trade CFDs. The regulation of cryptocurrency varies globally. For example, for US residents, there are often difficulties accessing some of the largest exchanges due to SEC regulations. And, in the UK, all crypto derivatives are now banned.

Micro Accounts.

Not everyone trades forex on a massive scale. In fact, many forex traders are small-timers. These clients require forex platforms’ micro accounts, some of which have the US Dollar as their base currency.

Often, forex micro accounts do not even have a set minimum deposit requirement. Such cheap trading options make sense for those looking to use real money, without risking their life savings.

Forex Trading Platforms.

Besides fees, a forex broker’s trading platform is one of its largest selling points. Platforms are your portal into the investing world – giving you the ability to open and close trades but also monitor price changes and complete analysis.

They provide traders with technical analysis tools, live news feeds, diverse order types, automation, advanced charting and drawing options etc. Some may include sentiment indicators or event calendars.

We’ve provided an overview and comparison of the top trading platforms used by forex brokers below.

MetaTrader 4.

MetaTrader 4 (MT4) is the original platform created by MetaQuotes. It has set many of the standards we’ve come to expect today for online analysis.

It’s famous for its in-depth analytics, which go way beyond the usual graphs and charting you’d expect. In fact, all in all, you can bring 31 different graphical studies to your results, including Fibonacci studies and Elliot wave drawing tools.

Plus, it was also one of the first to deliver analytics to mobile. You can access almost all these powerful tools on your phone just as easily as you can on a desktop.

Read a more in-depth analysis of MetaTrader 4 here.

MetaTrader 5.

It’s five years younger and sounds like an upgrade, but in fact, MT5 isn’t considered to be the better version of MT4. It really depends on what you want it for.

MT5 is geared more towards the US market and automatically complies with more US regulations than MT4 does.

While it’s true that it has more bells and whistles, like 44 graphical studies instead of 31, it’s really set up to deal better with high frequency automated trading. If that’s what you’re looking to do, then MT5 is for you, but if you’re not then you may find most of these additional features unnecessary and bulky.

The base operating software used by MT4 is not thought to run any slower than MT5, so think of it more like a slimline version of the same thing with more of what you need, and less of what you don’t.

Forex brokers will usually offer both MT4 and MT5 as options. Although MetaQuotes has stopped selling licences for MT4, so new brokers may not offer this.

Read a more in-depth analysis of MetaTrader 5 here.

Other Popular Platforms.

TradingView is also a popular choice that consistently ranks within the top 10 platforms. As the world’s top social trading network, it’s used by numerous forex brokers and is especially popular among professional investors.

NinjaTrader is praised for its advanced features and technical analysis tools. In particular, the NinjaTrader Ecosystem allows access to thousands of apps, EAs, and other add-ons created by external developers.

Bespoke Proprietary Platforms.

Another popular option for forex trading platforms is the bespoke route. Many forex brokers will offer their own “home-made” proprietary platforms alongside the usual MT4 and MT5 solutions.

The great benefit of these is that they’re usually designed specifically around a certain kind of market, strategy or currency pair. In this way, you’ll find they can often be better suited to your specific needs. But at the same time, they can be less versatile.

Proprietary solutions are in some cases less than optimal. Traders who base their strategies on the use of EAs and VPS, will struggle to find a proprietary platform that compares to MT4 and MT5. In fact, many do not offer the functionality altogether.

While we are discussing strategies: not all forex brokers support strategies such as hedging, scalping and EAs. Make sure you understand any and all restrictions in this regard before you sign up.

Mobile App.

For those who want to trade on the go, a mobile app is obviously important. While all forex brokers feature such apps these days, some mobile platforms are very simplistic.

They lack all the advanced analysis and market research features, and as such, are hardly useful. You can see a list of the best forex broker apps here.


The developers of trading software are often adding new and unique functionality to their platforms. But some also allow user-developed AI or tools to be added.

In fact, many allow users to load their own functionality to a ‘code base’ (in the case of MT4) where other users can then download those add-ons for free. This added configurability is very attractive for certain traders.

The majority of ‘off the shelf’ software falls into two camps: signals or automated trading robots (‘bots’).


Signal platforms, as the name suggests, are set up to alert the user when certain market conditions are met.

Within this type of software, you can dictate when you receive signals and how they are sent. Speed is crucial when using signals.

The major advantage to using this type of software is that you don’t have to sit in front of a market ticker watching currency fluctuations day and night or keep yourself plugged into world politics, because you’ll be alerted to price targets as they are reached. Systems can also be configured to recognise certain patterns.

Signals can add some discipline to trading, as, in theory, trades will only be placed when certain conditions are met – reducing any made on impulse. This is a double-edged sword, though, because it still relies on your judgement to make the correct decision once the signal has been sent.

Automated Trading.

Automated trading software takes forex signals to the next logical step. Not only will opportunities be identified (based on your configuration) but the trades will also be automatically placed as per your commands.

While this might sound easier than a signal platform, if you’re going to do it properly, it requires a huge amount of homework and fine-tuning before you’re ready to set the algorithm free in the markets for it to start making you money.

Put simply, thw automated forex trading software systems – called robots or bots – will trade your money using a pre-determined set of entry and exit criteria that you decide in advance.

There are apps that you can download to check the progress of your forex bots on the move, but fundamentally it is up to them to make the right trades.

In comparison to signal platforms, the frequency of trades placed by automated forex platforms cannot be matched. This is because bots can execute faster than any human – and they can do so 24/7.

This means there is far more potential to make money, but you’re also exposing yourself to far more risk.

The robot will follow the trading rules until the balance runs out, and that can all happen very quickly if things start going wrong. Automated forex trading platforms are a domain for experienced trader only.

Tools & Features.

From charting to futures pricing or bespoke trading robots, forex brokers offer a range of tools to enhance the experience.

Again, whether the availability of these as a deciding factor in opening an account or not will be down to the individual.

Level 2 (or Level II) data is one such tool, where preference might be given to a brand delivering it.


Some traders may rely on their forex broker to help them learn to trade. From guides to classes and webinars, educational resources vary from brand to brand.

However, a broker is not always the best source for impartial advice. Consider checking other sources too – such as our Education page.

Deposits and Withdrawals.

There are some massive disparities between the costs associated with deposits and withdrawals from one broker to another. Such disparities mostly result from the internal procedures observed by different forex brokers.

At one platform, it can take as much as 5 times longer to fund an account than it does at another. The incurred costs differ quite a bit as well.

Otherwise, the payment process largely hinges on the accepted money transfer methods. It would make sense for forex brokers to adopt as many such methods as possible, yet some still fall well short of the mark.

Most forex brokers also specify minimum deposits with their accounts, which can range from $10 to $10,000. This can act as an entry barrier to less experienced clients with less capital to invest.

Payment Methods.

The most common methods are bank wire, VISA and MasterCard. The majority of forex platforms tend to accept Skrill and Neteller too.

Forex brokers with PayPal are much rarer. The same goes for forex brokers accepting bitcoin.

We are not talking about bitcoin trading, but actual deposits made using the top cryptocurrency.

Customer Feedback.

Based on actual user feedback, a forex broker’s reputation can best be gleaned from various community review sites and forums.

You have to take this type of feedback with a grain of salt, to say the least.

First of all: disgruntled traders are always more motivated to post feedback. They are not likely to be unbiased.

Secondly: not all of this feedback is factually correct. Furthermore, there is no way to actually fact-check/verify this data. Even sites like TrustPilot are blighted with fake posts and scam messages. There is no quality control or verification of posts.

That said, it is still relevant. If there’s a forex broker about which no one has ever said anything good, chances are it might have issues. To the trained eye, genuine trader reviews are relatively easy to spot.

The utter lack of community feedback is a red flag as well. People always have something to say about forex brokers. Therefore, something is definitely amiss if there is no information available in this regard.


Regulation should be an important consideration. Across the world, there are different regulatory bodies that govern the rules a forex broker must adhere to. Forex brokers regulated in Russia, Canada, UAE (Dubai) or Pakistan may have different responsibilities to those in the USA, Philippines or South Africa, for example.


In Europe, ESMA (the European Securities and Markets Authority) has jurisdiction over all regulators within the European Economic Area (EEA). This includes the following regulators:

CySec (Cyprus Securities and Exchange Commission) BaFin – (Bundesanstalt für Finanzdienstleistungsaufsicht) FINMA (Swiss Financial Market Supervisory Authority)

If a forex platform is regulated by one of the above, they are permitted to provide financial services throughout Europe. Therefore, you’ll often find that forex brokers are regulated by CySEC, but accept clients from Germany, Switzerland and the rest of Europe.

In Europe, forex leverage is capped at 1:30 (or x30). Outside of Europe, leverage can reach 1:500 (x500).

Traders in Europe can apply for professional status with their forex broker. This removes their regulatory protection and allows them to trade with higher leverage.

Other rules include the duty for forex brokers to display warnings about the “ risk of losing all your money ” when CFD trading and the ban on offering binary options.

Other Global Regulators.

Outside of Europe, the largest regulators of forex brokers are:

SEC – Securities and Exchange Commission (US) CFTC – Commodity Futures Trading Commission (US) FCA – Financial Conduct Authority (UK) CSA – Canadian Securities Administration ASIC – Australian Securities and Investments Commission.

These are the most stringent global regulators. Forex brokers offering services in their jurisdictions must register with them to provide financial services legally. In other nations, the regulators are more “Laissez-faire” and regulation is not mandatory. Therefore, forex platforms operating in India, Hong Kong, Ghana, Kenya, Qatar etc. are likely to be regulated in one of the above, rather than their national regulator.

Offshore Regulation.

Regulators based in Vanuatu, Belize and other island nations are called ‘offshore regulators’. Sadly, this is not a sign that should instil confidence in the forex broker. Beyond a nominally available dispute-resolution system, such regulatory coverage offers you no protection.


Leverage can be a factor to consider when selecting forex platforms. However, regulation often takes the choice out of this. Leverage is capped at 1:30 by the majority of forex brokers regulated in Europe. Assets such as gold, oil or stocks are capped separately.

Note that higher leverage increases potential losses, as well as profits.


Most forex brokers will follow regulations and segregate client and company funds into separate bank accounts. This protects traders in the case of broker liquidation.

Data protection is usually legislated at a government level. In the EU, GDPR regulation applies. This restricts what forex brokers can do with your personal data, offering that added level of protection.

Account security also differs among forex brokers. Some platforms may offer the additional layer of protection of 2FA (two-factor authentication) which will protect against hacker intrusion.

Demo Accounts.

If this is all sounding like too much already and you’re feeling daunted, you can ‘try before you buy’ using a demo account. Many forex brokers will allow you to open a simulation account. This trading training software uses imaginary money to see how you would have performed had you made the decisions that you did on the real forex market.

This can be good for new traders looking to test the waters and ease their nerves, and it can also be useful for more experienced traders looking to trial new strategies and ideas in a risk-free environment. It’s the best ‘on the job’ training that you can get. The best forex trading platforms for beginners will offer this function, and it’s highly recommended that you give it a go. It’s a real advantage.

Company History.

A proper regulatory agency will not think twice about handing out cease and desist orders to dishonest brokers. It will also likely blacklist them.

This practice creates an online trail, an operational history of sorts, highlighting the past sins of currently “reputable” forex brokers.

What’s interesting about this history is how little exposure it receives. You actually have to scour the archives of regulators to happen upon such relevant bits of information.

Bonus Offers.

From cashbacks, to no deposit bonuses, free trades or deposit matches, forex brokers used to offer loads of promotions. Regulatory pressure has changed all that.

Forex platforms offering bonuses are now few and far between. Our forex bonus page will list them where offered, but they should rarely be a deciding factor in your choice.

Always check the terms and conditions and make sure they will not cause you to over-trade. Many forex brokers with welcome, low or no deposit bonuses have time limits or turnover requirements. This is particularly crucial when assessing a forex broker offering a no deposit bonus. Often, bonuses that are given without the need to deposit are non-withdrawable.

Order Execution Types.

Once you click the “Open Trade” or “Enter” button in your trading interface, you start a rather intricate process. Forex brokers use a number of different methods to execute your trades.

Exactly which method it uses for a particular trade will be reflected in the price you pay for it. Some forex platforms only support certain order execution methods. For instance, your broker may act as a market maker and not use an ECN for trade execution.

If you are looking for this method specifically, you will need to seek out an ECN forex broker.

ECNs are great for limit orders, as they match buy and sell orders automatically within the network.

Some other options that your forex broker can use are:

Order To The Floor – Mostly used for stocks. This execution type is handled manually, through actual trading floors/regional exchanges. It is therefore extremely slow. Order To Third Market Maker – This execution type involves a third party, which is a market maker. The market maker handles trade execution. Some market makers pay brokers to send them orders. Thus, your order may not end up with the best market maker. Internalization – When using this method, forex platforms match the order from its own inventory of assets. This execution method is therefore extremely fast.

Order execution is extremely important when it comes to choosing forex brokers. It also goes hand-in-hand with regulatory requirements.

Broker Reporting.

Regulators aim to make sure that traders get the best possible execution. In fact, forex brokers in Europe and the US are required by ESMA and the SEC to report the quality of the execution their services provide.

MiFID II sets clear guidelines in this regard. Online forex brokers are required to submit data concerning their execution methods as well as execution prices on a trade-by-trade basis.

In this reporting, the prices paid by forex platforms are compared to those quoted to the public. If the broker executes trades at better prices than the public quotes, it has some additional explaining to do. Plus, if it routes the trader’s order through a less-than-optimal path, it has to disclose this fact to the trader.

These examples yet again showcase the importance of a proper regulatory background.

Forex Account Types.

From cash, margin or PAMM accounts, to Bronze, Silver, Gold and VIP levels, account types can vary. The differences can be access to 0 pip spreads, Level II data, settlement or different leverage and commission. Comparison is recommended to ensure you’re getting the best deal for your capital allowance.

Micro accounts might provide lower trade size limits for example.

Retail and professional accounts will be treated very differently by both brokers and regulators. An ECN account will give you direct access to the forex contracts markets.

So research what you need, and compare it to what you are getting at your current forex platforms.


Sadly, there are some forex brokers that are just scams. Avoid getting caught out with these checks:

Were you ‘cold called’? Reputable firms will not call you out of the blue (this includes emails, Facebook or Instagram channels) Are they offering unrealistic profits? Just stop and consider for a minute – if they could make the money they are claiming, why are they cold calling or advertising on social media? Are they offering to trade on your behalf or use their own managed or automated trades? Do not give anyone else control of your money.

If you have any doubts, simply move on. There are plenty of legitimate, legal brokers.

We have ranked forex brokers and platforms based on our own opinion and offered ratings in our tables – read more about why you can trust our opinion here – but only you can award ‘5 stars’ to your favourite!

Read who won the ‘Best Forex Broker 2023‘ on the Awards page.

Difference Between A Broker And A Market Maker?

Forex brokers are intermediaries. Their primary (and often only) goal is to bring together buyers and sellers by matching orders automatically, without human intervention (STP). For this service, it collects its due fees.

Market maker forex brokers, on the other hand, actively create liquidity in the market by acting as a counterparty to traders. If there’s no one to take the other side of your trade (buy when you’re selling), they’ll take the other side of the trade. This does lead to a conflict of interest. Market makers will be profiting from your losses.

The Bottom Line.

Hopefully, you now understand some of the methods we’ve used to create our forex brokers ranking list.

Picking the right platforms for you from the extensive list of forex brokers is no easy task. But it is imperative that you get it right. While we can point you in the correct general direction, only you know your personal needs. Take them into account, together with our recommendations.


What Is The Best Forex Broker?

There is no single top forex broker as every client has different needs, strategies and geographical locations. For example, of the top 8 brokers in South Africa, only 5 may make the list in Dubai or India, and even then they may be topped by other firms built around the local markets. So, whether you are in New Zealand, Japan, Lebanon, China, Mexico or beyond, finding the right broker will be a completely different experience. Follow our guide above for how best to compare local brokers, or see our ranked list of brokers that accept clients in your area.

Are All Forex Brokers Licensed?

Forex broker regulation is split among the various financial and geopolitical jurisdictions in the world. While most brokers will conform to rules imposed by regulatory agencies, there are some that do not. For example, some companies intentionally set themselves up in regions not affected by the ESMA but still advertise to European customers. These are generally either scams or specialist firms that provide anonymous brokering to best protect their client information through means like not requiring KYC data on account setup.

Are There Forex Brokers That Accept Bitcoin?

Forex brokers around the world accept various payment methods for funding and emptying accounts. There are many brokers that accept wire transfer and payment (debit or credit) cards, with a growing number using and accepting PayPal, Bitcoin, Venmo and other e-wallets and payment systems.

What Is The Best Forex Trading Platform?

Much like brokers, finding the best forex trading platform is a personal and subjective task. With so many commercial and private platform providers, brokers offering their own trading software and clients with unique strategies out there, there are no clear best forex trading platforms. Plus, if you are in Nigeria, Australia, South Africa, the Philippines or Canada, the range of forex trading platforms on offer will vary with the available brokers.

MT4 and MT5 are generally safe bets and strong all-rounders, but you should do your research into what is available to you, see our list of forex trading platform for more information. Platforms may also be limited by the operating systems they can run on, so if you are looking for the best option for Mac, make sure you factor this in.

What Additional Software Do Forex Brokers Offer?

Software for forex speculation is not limited to platforms and mobile apps. Signals forex trading software provides buy and sell signals, while automation systems and bots support algorithmic investment strategies. Some automated traders use a paid or free VPS, which cuts out the middle man and allows faster order execution. Before signing up for additional features, check our automated forex trading software reviews.

Opções binárias iq option iniciantes

13 Aplicativos para baixar filmes grátis 2022 atualizado.

Mesmo com todas as plataformas de streaming disponíveis hoje, não sabemos quando precisaremos de conteúdo offline. Seja em lugares que a internet não alcança ou no final da sua franquia de dados. Para isso, mesmo sem plano de dados, podemos optar por baixar filmes e curtir momentos de entretenimento em nossos celulares.

Mas e se você pudesse baixar filmes e séries gratuitamente no Android? Veja os melhores aplicativos para baixar filmes grátis 2022.

Embora existam tantos serviços de streaming hoje em dia, muitas pessoas ainda preferem baixar seus filmes favoritos para assistir mesmo sem conexão com a internet. Atualmente, existem aplicativos que fazem isso no Android de maneira mais fácil. Se você não tiver certeza de quais aplicativos instalar e usar em seu smartphone, confira os melhores Aplicativos para baixar filmes grátis em 2022 no Android. Confira abaixo!

1. ByClick Downloader.

Não só filmes, mas com este app você também pode acessar qualquer vídeo na maior plataforma online do mundo. ByClick Downloader é um programa simples e eficaz, basta copiar e colar a URL do conteúdo que deseja baixar.

Clique no link agora mesmo para conhecer o ByClick Downloader.

2. Newest Movie HD.

Newest Movie HD é um aplicativo muito simples de usar, onde você pode transmitir ou baixar filmes para o seu dispositivo Android a qualquer momento. Felizmente tem muitos filmes antigos e novos, então não é difícil encontrar algo bom para ver. Acesse o link para conferir o app .

3. Crackle.

O Crackle é muito parecido com o Netflix, exceto que oferece uma tonelada de conteúdo que você pode assistir gratuitamente. Há séries e filmes clássicos na plataforma, além de alguns lançamentos e produções originais.

Também é muito simples de usar, com apenas alguns anúncios de vez em quando. Atualmente, não há modo offline, mas ainda é um dos melhores serviços para assistir a filmes legalmente de graça. Para saber mais, acesse o link e baixe o app .

4. aTorrent.

O aTorrent é um dos apps mais fáceis de usar para baixar filmes no Android, principalmente porque oferece funcionalidades muito básicas para quem quer apenas esse tipo de app.

O download é gratuito, mas também tem uma versão paga para quem não quer ver anúncios o tempo todo. Se quiser conferir mais, acesse o link .

5. zetaTorrent.

zetaTorrent também é um aplicativo muito interessante, pois possui seu próprio navegador de internet, bloqueador de anúncios, histórico e páginas de sites favoritos. Dessa forma, você pode pesquisar e baixar com mais facilidade os filmes que deseja assistir.

Fora isso, ele também tem um recurso para transferir arquivos entre PC e Android e pode ser usado gratuitamente. Você pode baixá-lo no link.

6. FrostWire.

FrostWire é um dos aplicativos de torrent mais populares no Android, então você pode usá-lo facilmente para baixar seus filmes favoritos.

Sua interface é muito bonita e fácil de usar, além do app ter suporte para links magnéticos ou no formato torrent. Você pode baixar o app neste link .

7. BitTorrent.

O BitTorrent já é bastante conhecido por quem baixa arquivos via torrent no PC, mas seu app para Android também é excelente. Você pode usá-lo para baixar filmes ou qualquer outro tipo de conteúdo que encontrar através de torrents.

O aplicativo pode ser usado totalmente de graça e ainda promove o conteúdo de artistas mais desconhecidos. Você pode acessar o link para baixá-lo .

8. tTorrent.

O tTorrent é um app muito popular para quem costuma baixar filmes e outros arquivos via torrent no Android. Possui funcionalidades básicas, mas também permite que os usuários personalizem suas opções de maneiras mais avançadas.

O mais interessante é que o aplicativo ainda conta com criptografia dos arquivos que passam pelo seu smartphone, tornando tudo bem mais seguro. Ele pode ser baixado de graça, mas também oferece uma versão premium bem barata. Clique aqui para baixá-lo .

9. Flud Torrent Downloader.

Outra boa sugestão que você pode tentar é o Flud Torrent Downloader. Este é um dos melhores aplicativos para baixar filmes via torrent. O app conta com um interface bem limpa e fácil de entender, além de poder ser usado totalmente de graça. Você pode baixá-lo com o link a seguir .

10. Transdrone.

O Transdrone é muito semelhante a outros aplicativos para baixar filmes no Android, pois suporta arquivos torrent e também facilita o gerenciamento de seus downloads. A interface não tão bonita como as dos outros apps, mas ainda é bem simples de usar. Ele pode ser usado de graça e você pode baixá-lo através deste link .

11. TorrDroid.

TorrDroid é outro app recente que oferece ótimos recursos para quem deseja baixar filmes facilmente no Android. Ele suporta arquivos .torrent e é de uso gratuito.

Ele ainda tem um ótimo mecanismo de pesquisa, o que facilita na hora de pesquisar pelos filmes favoritos. Você pode clicar aqui para baixá-lo .

12. Google Play Filmes.

Outro ótimo aplicativo para baixar filmes é o Google Play Filmes, alguns dos quais são gratuitos para compra, aluguel ou download. Normalmente, o próprio Google enviará um e-mail para você avisando quando os filmes gratuitos estiverem disponíveis.

Caso tenha achado interessante, dá para baixar o app neste link .

13. MegaBox HD.

Outro app para baixar filmes no celular, o MegaBox HD também é compatível com celulares com sistema operacional Android e iOS, basta baixar na página do próprio app. Você pode escolher a qualidade do conteúdo, ou seja, 360p, 720p ou 1080p.

Através da interface intuitiva, na barra de menu à esquerda, você pode acessar filmes e programas de TV, que podem ser filtrados por popularidade ou lançamentos mais recentes. Além disso, você pode usar a barra de pesquisa para pesquisar o filme que deseja baixar.

Você pode fazer o download aqui.

E essa foi nossa lista dos 13 melhores aplicativos para baixar filmes grátis 2022.

Forex brokers 7

Best forex brokers in January 2023.

Trillions in currency are zipping around the world, 24 hours a day, five days a week, making the foreign exchange (also known as forex or fx) markets the world’s most active. Fortunes can be won and lost quickly, as brokers routinely let traders borrow heavily to finance their speculations.

Popular Searches.



If you’re looking to get in on this action, you’ll need a broker who deals in currency, and many of the big names in stock trading simply don’t offer this feature. Because the markets are so different, you’ll also need to evaluate a forex broker on different criteria from what you would use to evaluate a stock broker.

Below are some top forex brokers, including a couple that allow customers to trade cryptocurrencies.

Here are the best online brokers for forex trading in 2023:

TD Ameritrade Interactive Brokers Ally Invest IG.

Overview: Top online forex brokers in January 2023.

TD Ameritrade.

TD Ameritrade offers a range of tradable products, and currency really rounds out its portfolio. Currency traders are able to use the broker’s highly regarded “thinkorswim” trading platform, and can also trade on a couple of mobile apps.

The broker uses spread pricing and offers 50:1 leverage, which is the legal maximum permitted in the U.S. It offers more than 70 currency pairs, providing plenty of choices. TD Ameritrade also allows clients to trade Bitcoin futures, though you’ll need to get approval to trade futures, and pricing uses the broker’s futures scheme.

(Charles Schwab has purchased TD Ameritrade, and will eventually integrate the two companies.)

Pricing: Spread.

Maximum leverage: 50:1 on major currencies; 20:1 on minors.

Currency options: More than 70 pairs.

Interactive Brokers.

Interactive Brokers is well known for its low costs and powerful trading platforms preferred by active and professional traders. Forex traders won’t be disappointed by the advanced trading tools available as well as real-time quotes from many of the world’s largest forex dealing banks. You can even trade stocks on international exchanges and attach a forex order to hedge the currency at the same time.

Interactive Brokers also began offering some cryptocurrency trading in 2021. You’ll be able to trade popular cryptocurrencies such as Bitcoin and Ethereum at attractive commissions.

Pricing: Commission: 0.08 – 0.20 basis points.

Maximum leverage: Up to 50:1.

Currency options: More than 100 pairs.

Like its name suggests, specializes in currency trading (though it trades in metals and futures, too) and it offers a plethora of attractive features. Clients can select the pricing structure that suits them best: spread or commission, or the broker’s STP Pro pricing, where prices come from global banks and others with no additional markup. also gives traders access to more than 80 currency pairs, and its success with clients has the broker declaring that it’s the No. 1 forex broker in the U.S., in terms of assets held with the broker.

Pricing: Spread and commission, depending on account type.

Maximum leverage: Up to 50:1.

Currency options: More than 80 pairs.

Ally Invest.

Ally Invest is better known as a low-cost stock broker (and for its especially good prices on options trades), but currency trading really adds some breadth to its offerings. Ally is a good choice for traders just starting out, and it offers more than 80 currency pairs and easy-to-use charting software, including a mobile app.

Ally also allows you to open a $50,000 practice account so that you can see how currency trading works, even if you don’t intend to actually trade. Given the difficulty of forex trading, that’s a great resource for beginners to try it out.

Pricing: Spread.

Maximum leverage: Up to 50:1.

Currency options: More than 50 pairs.


IG is a more specialized broker focused on forex, and it’s open to American investors. It’s a high-powered broker that nevertheless offers many features, such as a demo account, that may help novice traders. The broker offers a web platform, a mobile app and access to MetaTrader4 and ProRealTime platforms.

IG allows spreads as low as 0.8 pips (a pip is one ten-thousandth of a point), and says that its pricing is up to 20 percent lower on the euro-dollar pair than the top two U.S. brokers. The broker also provides an extensive range of charting capabilities across its platforms.

Pricing: Spread.

Maximum leverage: Up to 50:1.

Currency options: More than 80 pairs.

What to consider when choosing a forex broker.

While you may be familiar with many of the brand-name online stock brokers, only some of them deal in forex trading. Instead, a plethora of more specialized niche brokers populate the space, and they may cater to high-volume currency traders looking for every possible edge.

But regardless of which kind of broker you’re targeting, you’ll want to focus on at least a few features that are common to any forex broker:

Pricing: Forex brokers have two ways to price their services: by baking the price into the buy-sell spread or on a commission basis. Spreads are often quoted in pips, or one ten-thousandth of a point. Leverage: How much leverage will the broker let you assume? In general, traders look for a higher degree of leverage to magnify the moves in the currency market. The level may differ depending on the liquidity of the currency. Currency pairs: A handful of major pairs dominate trading, but how many other pairs (minors, exotics) does the broker offer? The most popular currencies include the U.S. dollar, the euro, the Japanese yen, the U.K. pound and the Swiss franc. Spreads: How wide are the broker’s spreads for trades? The larger the spread, the less attractive the trade. Of course, brokers who charge a spread markup will tend to have wider spreads because that’s how they get paid.

Investors looking to buy cryptocurrency may be able to do so through some of the traditional stock brokers such as TD Ameritrade or Robinhood, though the trading works differently from regular forex trading as described above.

One downside for American traders is that many top forex brokers are based in the U.K. and simply won’t accept them as clients because of their citizenship. The brokers above are all fine for Americans, however.

How do I know if my forex broker is regulated?

Regulation of forex brokers is important for maintaining business standards and protecting clients. The Commodity Futures Trading Commission (CFTC) says that most scams involve unregistered people, products or companies. So if you’re engaging in forex trading, you’ll want to use a registered broker, and it’s actually easy to determine if you’re working with one.

The CFTC registers and regulates forex brokers. A broker must meet certain financial standards, its personnel must go through background checks, and the firm must adhere to certain conduct and disclosure requirements.

You can check whether a forex broker has been properly registered by going to the National Futures Association website (which is under the supervision of the CFTC) and using its search tool. You can check a broker’s registration, its disciplinary or regulatory history and financial information. Be skeptical of any entity that is not properly registered.

What’s the difference between a dealing desk and an agency broker?

When you trade forex, you need a broker to execute your trades, but the broker may not always be acting in your interest first. There are a couple different kinds of models – a dealing desk and an agency broker – and they have different incentives as they’re executing trades.

An agency broker is one who acts in the best interest of its clients, and whose job it is to find the best deal price. So the agency broker does not hold any inventory of the assets being traded, which could put the agent’s and client’s interests in conflict, and merely acts as an intermediary. The client pays the agent specifically for this service, which could save the client a lot of money. So agents are usually reserved for high-net-worth clients who move massive amounts of money.

In contrast, a dealing desk trades in securities and owns them at the same time. This structure means the dealing desk may not always be working in the client’s interest but rather in its own.

So a dealing desk can operate as both a principal and agent in a transaction, creating some strange conflicts:

As a principal, the dealing desk trades for its own account, meaning that it may take a trade from a client in which it has a vested interest in the outcome. In other words, the dealing desk could profit at the client’s expense, perhaps unloading inventory to the client just before the market falls or buying it just before the market rises. As an agent, the dealing desk can execute trades for a client and will pass along the trade price.

Because of this structure, a client may never know where the dealing desk’s interests lie on any individual trade – a problematic setup if you’re the client.

Forex brokers 6

Explanation of a Forex Broker.

John Russell is an expert in domestic and foreign markets and forex trading. He has a background in management consulting, database administration, and website planning. Today, he is the owner and lead developer of development agency JSWeb Solutions, which provides custom web design and web hosting for small businesses and professionals.

Updated on March 18, 2022.

Reviewed by.

Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics.

Fact checked by.

David J. Rubin is a fact checker for The Balance with more than 30 years in editing and publishing. The majority of his experience lies within the legal and financial spaces. At legal publisher Matthew Bender & Co./LexisNexis, he was a manager of R&D, programmer analyst, and senior copy editor.

In This Article.

In This Article.

Busakorn Pongparnit / Getty Images.

A forex broker works as an intermediary between you and the interbank system. If you don't know what the interbank is, it's a term that refers to networks of banks that trade with each other.

Typically a forex broker will offer you a price from the banks where they have lines of credit and access to forex liquidity. Many forex brokers use multiple banks for pricing, and they'll offer you the best one available.

Key Takeaways.

A forex broker is a link between a trader and the network of banks that have access to forex liquidity. Forex brokers give you access to foreign exchange trading and leverage to trade with. Before you start trading forex, make sure you educate yourself and verify that your broker is reputable.

Opening a Forex Trading Account.

To get an account with a forex broker, it's a bit like opening a bank account. It requires paperwork and steps, such as identity verification. The whole process takes a few days.

However, if you're looking to test the waters, forex brokers offer demo accounts for which you only need to provide minimal information to open. A demo or practice account allows you to get set up and get some practice trading until you're ready to start trading with real money.

Forex Brokers Offer You Leverage.

The ability to use forex leverage comes with every account, and it varies in an amount anywhere from 10:1 to 100:1. For example, leverage of 10:1 means that for every $1 in your account, you have $10 to trade.

Leverage is both good and bad as you can make exponential profits, but you can also suffer from mounting losses. The law requires forex brokers to disclose this, and they typically do in the fine print. New traders usually get excited and blow their accounts out quickly if they jump in too fast.

You'll Have Two Balances.

When you're working and trading with a forex broker, there are two balances shown for your account. One balance is your actual balance, not including your open trades. Your other balance is the balance that you would have if you were to close all your trades. The second balance is called your "net balance."

The Bid-Ask Spread.

When you open a forex trade with a broker, they pass it through to the market for you. In the process, they offer you a price for the currency pair that is slightly different than the price they can get.

You'll see it shown in quote form as EUR/USD 1.3600/1.3605, for example, where the first number is what the broker will give you if you want to sell the currency pair, and the second number shows what the broker will charge if you want to buy the pair. The difference between .0005, or five "pips," is the broker's commission. The spread may widen or narrow, depending on trading supply and demand.

The bid/ask difference charge is called "collecting the spread." The spread or commission of sorts is mostly transparent to trading from the trader's point of view. However, you always have to keep in mind that the beauty of the spread from the broker's point of view is that it's taken from your leveraged trade size, not your account balance size.

Learn How Forex Trading Works.

Forex is a relatively new arena for many investors. News that affects a stock price may have a radically different effect on the price of a currency. Also, learning how to price currencies and invest in them in a relative environment is often uncomfortable territory when a prospective investor first comes into forex.

To battle the lack of knowledge that many have due to the uniqueness of the forex market, many brokers have set up divisions dedicated to education and research to help traders get up to speed and informed on a day-to-day basis. One popular destination for many traders is the website DailyFX.

Verifying a Broker's Reputation.

Forex brokers exist to make it easier for you to connect with the banks buying and selling currencies. They have a set of rules that they have to follow and certain processes that are required.

However, for many years the forex industry was not regulated. Although it's improved dramatically, you may still run into some forex brokerages that are less-than-reputable. The National Futures Association ( follows forex brokers and can help you verify a broker's reputation.

When choosing a broker to work with, check first to see whether a U.S. authority regulates them. Regulated brokers will disclose this information on their websites.

Forex Passos

Getting Started.

This section contains basic information you need to know to get started with the platform.

Key Elements of the Platform Interface #

The trading platform provides a simple and user friendly interface. All commands can be accessed from the main menu, and the most frequently used ones are available on the toolbar. Quotes are displayed in Market Watch, while from the Navigator you can manage technical analysis and algorithmic trading tools.

Main Menu.

The main menu contains almost all the commands and functions that can be executed in the trading platform. It provides access to operations with charts, analytical tools, platform settings and other features. The main menu consists of the following items: File, View, Inset, Charts, Tools, Window, Help.File, View, Inset, Charts, Tools, Window, Help.


The platform has three built-in toolbars: Standard, Line Studies and Periodicity. The toolbars contain duplicated commands and functions of the main menu. However, the toolbars are customizable, and you can add the most frequently used controls there.

Market Watch.

The Market Watch window provides access to the price data of financial instruments: prices, statistics and tick charts. Contract specifications and one-click trading features can also be accessed from this window.


The Navigator allows switching between accounts and provides functions for running trading robots and indicators. It contains a list of applications purchased from the Market and downloaded from the Code Base. From the navigator, users can rent a virtual platform to provide round-the-clock operation of Expert Advisors and trading Signals.


The essence of technical analysis is studying price charts of financial instruments using technical indicators and analytical objects. Charts in the platform have a variety of settings, so that traders can customize them and adapt to their personal needs. Every chart can be displayed with 21 timeframes from one minute (M1) to one month (MN1).


Toolbox is a multifunctional window that provides functions for working with trade positions, news, account history, alerts, internal mailbox, program logs and expert journals. Additionally, from the Toolbox you can open and modify various orders and manage trade positions.

How to Open a Demo Account #

Demo accounts provide the opportunity to work in a training mode without real money, allowing to test a trading strategy. To open a demo account you need to select a trading server and specify registration data.

After you have opened an account, the platform connects to a server. You can now work in the platform.

How to Make the First Trade #

On the demo account, you can practice you trading skills without risking real money. Try to make your first trade.

Select a financial instrument in the Market Watch window, open its context menu, and click "New Order."

To execute a Sell trade, click "Sell". For a Buy trade click "Buy".

Additional Trading Opportunities #

The features multiple useful services — from automated copy trading to the possibility of purchasing ready-made trading robots from the Market and running them 24/7 on a virtual platform . provides access to the following services:

Market — the store of applications for the trading platform. Find here free and paid trading robots, technical indicators, and other useful tools that will help you work on the financial markets. Signals — copy trades of professional traders directly to your account automatically. Choose from multiple providers and subscribe in just a few clicks. Virtual Hosting — with a account, you can rent a virtual hosting straight from the platform to run your trading robot or to copy signals. Virtual platforms are located on special hosting servers to ensure uninterrupted operation 24 hours a day. Freelance — if you cannot find the desired application in the Code Base or Market, order one from a professional developer in the Freelance section of website.

Register an account now. Go to the registration page and specify the desired username and your email. A confirmation email will be sent to the specified address. Click on the link and access all the services of Specify the account in the trading platform settings.

Forex brokers 5

Compare the best forex brokers in 2023.

Invezz has tested 58+ platforms to find the best forex broker available today. Here are the final ratings along with our expert recommendations.

Max was the Editor of Education for Invezz from 2022-2021, overseeing the wider investment educational strategy. He has written… read more.

James is a lead editor for Invezz, where he covers topics from across the financial world, from the stock… read more.

Reviewed by.

Richard is a Fact Checker for Invezz who ensures all our reviews and guides are accurate and unbiased. He… read more.

Updated: Jan 9, 2023.

Listen to this article.

0 : 00 / 14:06.

Ad disclosure.

Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >

Get started in minutes with our preferred broker, eToro .

68% of retail CFD accounts lose money.

Our forex reviewing panel includes expert trader, Prash Raval; Data Analyst, Dan Ashmore, CFA; and Lead Editor of News, Jayson Derrick. It also features an independent Economist and Fact Checker, Richard Stutely.

The panel spend hundreds of hours testing, rating, and reviewing each of the 58+ forex trading platforms. They scored each service according to 7 key criteria, including its security and regulation , the cost of trading , and the range of currency pairs available to trade . Read more about our review process.

These are the results and their expert tips on how to find the best forex broker.

Best forex brokers overall for 2022.

OANDA: Oanda. Best for trading with live market data FXTM: Best for trading tutorials & webinars LonghornFX: EagleFX: InstaForex: Admirals: Best for real time news and price data FP Markets: Best for low spread & 0-pip trading Revolut: EZinvest: Capitality. Best for trading like a pro LiteFinance: Capitality:

Compare the best forex trading platforms.

Our panel rated these three platforms as the top forex brokers from the 58+ we reviewed. They scored highest on security, cost, and ease of use, which made them the best choices for novice or retail traders.

Min. Deposit.

User Score.

Take a position on major global indices, including US Wall St 30 and France 40.

Low spreads and accurate pricing reflecting the underlying market.

Comprehensive analysis and new for better decision making.

Payment Methods:

Bank Wire, Check, Credit Card.

Full Regulations:


Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest.

Min. Deposit.

User Score.

World-class customer support in 18 languages.

Account opening is fast and fully digital.

Ultimate transparency with a trusted brand.

Payment Methods:

Bank Wire, Mastercard, PayPal, Visa, neteller, skrill.

Full Regulations:


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Min. Deposit.

User Score.

55+ currency pairs available.

Trade on a trusted platform.

24/7 support via live chats, email or phone call.

Payment Methods:

Bitcoin, Credit Card, Debit Card, Visa.

Full Regulations:

LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

Top 12 forex trading platforms, reviewed.

1. Oanda. Best for trading with live market data.

Regulated forex broker in multiple Tier 1 jurisdictions 70+ forex pairs available to trade Offers individual and corporate services.

Limited service to US and UK-based clients.

We love Oanda because its user-friendly trading platform has been built for reliability and speed. Oanda is a CFD broker where you can trade over 70 forex markets, including majors and minors. The platform is suitable for all levels of experience, has powerful analysis tools and a wide selection of educational videos.

Oanda is an award-winning broker and integrates with both the Metatrader4 and TradingView platforms. That’s in addition to its fully customisable proprietary mobile and desktop app. Oanda has been operating for over 25 years and holds regulatory licences in the UK, Europe, Asia, and Australia.

The fees: Oanda does not charge any commissions on trading. It makes it money from the Bid/Ask spread which starts at 0.7 pips. Swap charges are applied for keeping positions open overnight and vary depending on size. There is also an admin fee for swap charges starting at 1%. A £10 fee is applied to accounts inactive for 12 months.


Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest.

2. FXTM. Best for trading tutorials & webinars.

Low trading spreads on major pairs Low minimum deposit Free demo account.

No cryptocurrencies available to trade Relatively low leverage compared to other FX brokers.

We love FXTM because it’s a trusted platform with lots of educational tools and customer support. There are 200+ financial instruments available to trade, including 20 major and minor forex pairs.

When you sign up you get access to your own dedicated account manager and a free demo account where you can practice trading without risking money. There are hours of webinars and tutorials to teach you how to trade before you dive in for real.

The fees : Commissions depend on the account you sign up for. The basic micro account charges no commission and you pay through the spread, which is a minimum of 1.5 pips. Advantage account traders pay a commission of $0.4 to $2 on each trade, depending on the asset, and can access spreads as low as 0.0 pips.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

3. Admirals. Best for real time news and price data.

Advanced trading and charting tools Commission-free accounts with no hidden fees Lots of educational resources, including webinars and seminars Access to various different tradable assets.

Not available to US traders No fixed spreads.

We love Admirals because you can invest in more than 8,000 assets with as little as €1. 50 currency pairs are available, including 20+ exotic pairs, enough to make Admirals a great investment platform where you can create a diversified portfolio.

There’s a demo account available so you can try out the Admirals platform and a vast amount of information can be accessed for free. That includes a host of real time news and research, as well as the latest price charts.

The fees : All currency trades are commission free but you pay through the spreads instead. Spreads start from 0 pips on the major pairs but may be significantly higher for some exotics.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

4. FP Markets. Best for low spread & 0-pip trading.

Trade 10,000+ CFDs across multiple asset classes Highly regulated and reliable platform Copy and social trading features.

Not available in the US, Japan & New Zealand IRESS platform is expensive.

We love FP Markets because it uses cutting-edge technology to ensure all forex trades are executed at lightning fast speed. It’s an award-winning broker and offers over 60 currency markets with spreads starting from zero pips and leverage up to 500:1.

FP Markets has zero restrictions and allows all trading styles, including scalping and running expert advisors. It integrates with the popular MetaTrader 4 platform and has its own technology-driven charting package. For beginners, FP Markets offers a free copy trading service where you can mirror profitable users’ trades directly in your own account.

The fees: FP Markets has two account types with different fees for forex trades. Its standard account has zero commission but has spreads starting from 0.9 pips. Its Raw account gives access to its ECN trading platform and charges $3 per side (per lot) for every forex trade.


CFDs are derivatives and can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading CFDs you do not own or have any rights to the CFDs underlying assets.

5. Capitality. Best for trading like a pro.

Trade 2000+ CFDs in six markets Access institutional quality web trading platform Comprehensive market knowledge and education section.

Unregulated offshore broker registered in St. Vincent and the Grenadines Relatively high initial deposit required.

We love Capitality because it gives regular investors the means to trade with pro data and tools. Capitality offers 2100+ financial instruments, including 80 currency pairs.

The Capitality web trading terminal gives you access to live market data, real time quotes, and super-fast trade execution, all without needing to download anything. There’s also a free economic calendar that lets you know when the big financial events happen so you can plan your trades accordingly.

The fees : Capitality charges its fees through the spread. Spreads start from 0.1 pips for major forex pairs but can be significantly higher for minor and exotic pairs.

The top forex broker for your needs.

What’s the top forex broker for beginners?

eToro is the best forex trading platform for beginners. A low minimum deposit, 0% commissions, and a copy trading feature make eToro perfect for any forex beginner.

The CopyTrader feature is a huge part of what makes it so good, as you can use it to learn from the best traders/investors in the business.

Which forex trading platform has the best app?

Skilling has the best mobile app. Any app must prioritise ease of use and offer a seamless trading experience that closely resembles that you get from a desktop browser. Skilling offers all these and more.

Which forex platform offers the best bonus?

Admiral Markets offers the best welcome bonus. It offers a 100% deposit welcome bonus, up to $5000, so you can double the money you have to trade with as soon as you sign up. Many brokers offer some form of bonus, and some don’t even require a deposit to access it.

Which forex trading platform has the best demo account?

eToro has the best demo account. It hands you 100,000 virtual dollars to trade on any currency pair you like and a seamless way to track your performance.

The best forex demo accounts offer the same trading experience whether you use a real or ‘fake’ account. That way you can get the best idea of whether your trading style would be successful. eToro’s demo account offers a seamless transition to the real thing.

Which forex platforms have the highest leverage?

Pepperstone offers the largest amount of leverage, but note that it is capped at 30:1 in the UK and EU by financial regulations in those countries. Here are the top five brokers with the most leverage:

Broker Leverage Pepperstone 30:1 for retail traders 500:1 for professionals Pacific Union 500:1 for professionals AvaTrade 30:1 for retail traders 400:1 for professionals Skilling 30:1 for retail traders 200:1 for professionals 30:1.

To make money from trading, you often have to use lots of leverage to multiply the size of your trades many times over as the price fluctuations are so small.

Which forex broker charges the lowest fees?

eToro offers completely free forex trading. There is no charge to make a trade, nor do you have to pay to make a deposit or close a position.

This is great if you’re learning the ropes or if you intend to be highly active, but note that you may have to pay fees elsewhere in the form of higher spreads.

Which fx broker has the lowest spreads?

Pepperstone offers the lowest spreads and occasionally even provides zero pip spreads for popular currencies like EUR/USD or GBP/USD. Spreads are variable charges that can change depending on volatility in the market.

Some brokers offer low spreads as a rule but these platforms often charge commissions, so you have to decide which is more important to you.

What’s the best managed account?

AvaTrade offers the best managed accounts, where you can place your trading decisions in the hands of a professional. The AvaTrade accounts have competitive annual fees and offer a history of excellent performance.

Which is the top FX broker for day-traders?

Alvexo is a great broker for any trader that plans to make frequent trades in the forex market and use it to generate an income. Alvexo offers analysis tools and large amounts of leverage.

Which forex broker is the safest?

AvaTrade is the safest forex broker. It is licensed in the EU, Japan, and Australia, three top-tier regulatory jurisdictions, as well as in South Africa and the British Virgin Islands.

To find the safest and most secure platforms you want to look for an established company with lots of investor protection. Forex brokers must be regulated in the country in which they operate, so check for approval from regulatory bodies like the FCA or SEC..

Which forex broker offers the most currency pairs?

Saxo Bank offers the most with 190 spot forex pairs and 130 forward pairs, which gives you an incredible range of choice.

Most forex trading takes place in the major and minor pairs that include USD, GBP, and EUR. For most beginners, a forex broker that offers the major and minor pairs is enough, so don’t worry too much about the raw amount of pairs.

More about the best forex brokers.

What are the top 10 forex brokers?

Our expert panel chose these ten brokers as the best options available, based on their cost of trading and regulatory status, two of our most important ranking factors.

What other forex brokers types are there?

There are lots of types of broker to suit different trading styles. Whether you want to use a specific type of software to trade, like MetaTrader 4 or 5, or trade in a certain style, such as scalping or spread betting, there is a broker out there for you.

Here is a summary of the different types of brokers available.

Best MT4 forex brokers . MetaTrader4 is a popular piece of trading software that you can download and use from a desktop browser. Best MT5 forex brokers . MT5 is the latest edition of the MetaTrader software that integrates with top forex brokers. Best forex brokers for scalping . Scalping is a fast-paced trading style that relies on taking very small profits on lots of trades throughout the day, and which isn’t permitted on every platform. Best 0-pip forex brokers . Zero pip brokers offer forex trading with no spreads, so they offer you the best market rate. Best spread betting forex brokers . Spread betting is a form of trading where you bet on how you expect prices to move and win money based on your stake and the amount of price movement. Best NDD brokers . No dealing desk (NDD) brokers allow you to access the interbank forex rate, and with it the most competitive prices for every currency. Best STP brokers . Straight-through-processing (STP) platforms are a form of NDD broker where they route your trades to the best prices available on the market by using fast electronic transmitters. Best ECN brokers . ECN brokers act like a hub to receive your trade orders and send them on to the interbank forex market. ECN brokers are ideal for active traders who want to access a large number of markets.

What are the best forex brokers by country?

The top forex brokers are widely available in any country where forex trading is legal. Use these links to find the best forex trading platforms where you live.

Best forex brokers in Australia Best forex brokers in Belgium Best forex brokers in Brazil Best forex brokers in Canada Best forex brokers in France Best forex brokers in Germany Best forex brokers in India Best forex brokers in USA Best forex brokers in Pakistan Best forex brokers in Netherlands Best forex brokers in New Zealand Best forex brokers in Nigeria Best forex brokers in Philippines Best forex brokers in South Africa Best forex brokers in the UK.

Which forex broker offers the most payment methods?

You can use almost any form of payment method to fund your forex trading account. Most people choose a bank transfer or wire payment but there are a wide variety of card or digital payment options available. Choose your favoured option from the links below to learn more.

Forex brokers that accept AMEX Forex brokers that accept Apple Pay Forex brokers that accept credit card Forex brokers that accept debit card Forex brokers that accept Google Pay Forex brokers that accept Neteller Forex brokers that accept Payoneer Forex brokers that accept PayPal Forex brokers that accept Paysafecard Forex brokers that accept Skrill Forex brokers that accept Venmo.

Brokers that didn’t make it into our top ten.

Many forex brokers offer a range of quality features and lots of them didn’t make it into our list of recommendations. Our expert panel felt these platforms didn’t offer enough to the regular or casual trader to warrant inclusion as one of the best forex trading platforms.

Saxo Bank : Saxo Bank is a good option for many traders across the world, but it is not available in the US or Canada and it takes up to three days to open an account. IG : IG offers a wide range of trading services alongside forex, but it charges relatively high spreads for forex trading which means the user doesn’t always get a great price. CMC Markets : CMC is a leading broker in the UK but it isn’t available to US traders and it can take a few days to even open an account and start trading. Interactive Brokers : While Interactive Brokers is another platform that allows you to trade lots of different financial assets, it’s not the most user-friendly platform and can be off-putting to beginners trading forex for the first time. TD Ameritrade : TD Ameritrade is an American broker that doesn’t offer any services to traders outside the US. : offers a good service for institutional or professional traders but offers a smaller pool of currencies than other platforms and is a little complicated to understand for the beginner. Swissquote: Swissquote charges relatively high trading fees and even charges for some of its research and analysis tools, which means it’s not a great fit for most casual traders. London Capital Group : LCG is an interesting option for beginners but you need to deposit in excess of £10,000 to access the best spreads, and it isn’t available to US traders. HFM : HFM doesn’t offer a huge range of currencies and there is a limited service to UK and European traders. BDSwiss : BDSwiss is a good choice for experienced traders who are familiar with trading software like MT4 and MT5, but it requires a high minimum deposit and the spreads on popular currency pairs are quite high.

How should I choose the best forex trading platform for me?

A broker that’s regulated with a top-tier financial authority like the FCA is always important. If you’re just dipping your toe in, then a regulated, low-commission broker where you can trade the major pairs is enough.

For people who want to be more active and trade like the professionals, then low spreads and the ability to run MetaTrader trading software is more important.

Here is some expert advice to point you in the right direction.

To find the best demo account.

With a demo account you want to be able to trade exactly as if you were using real money and track your performance. That way, you can practice using different strategies to see what works best, and gain valuable insight into whether you have the skills to do this for real. “ James Knight, Editor of Education.

James recommends : eToro for the most realistic demo account.

For beginners just starting out.

Low costs are most important for beginners. When you’re starting out, you probably have less money to trade with. Pick a zero commission broker and look out for features that can help you learn. eToro is great for this, while some brokers email out daily analysis that you can use to help you get to know the forex market. “ Jayson Derrick, Lead Editor of News.

Jayson recommends : eToro for its low fees and CopyTrader feature.

For swing or casual traders.

Low spreads and commissions are always important. As is reliability and speed – lags can be costly. Some brokers offer a VPN so you’re always connected, or the ability to switch servers in the settings to prevent them. The more active you are, the more you’re going to want to trade different currencies, so look for a fx broker with a large range of currency pairs as well . But remember, unless you are an experienced trader, using anything beyond a demo account is not advised .” Dan Ashmore, CFA, Data Analyst.

Dan recommends : Pepperstone for its 60+ pairs and fast execution speeds.

For active and experienced traders.

Brokers that use an ECN – Electronic Communications Network – to access the market can offer lower spreads than market makers designed for casual traders. High volume traders in the UK should also think about spread betting as a tax-free alternative to CFDs .” Prash Raval, forex trader & financial writer.

Prash recommends : IG for spread betting forex, Tickmill for its ECN.

Quick answers to key questions.

What are the fees for a forex trading platform?

Lots of platforms offer 0% commission but exact charges vary between forex brokers. It’s impossible to give a definitive answer, but here are the fees for each of our top ten platforms, along with their regulatory status.

Forex broker Commission fees Primary regulatory bodies eToro 0% FCA, CySEC Pepperstone 0% FCA, ASIC, DFSA Skilling Start from $35 per million FCA, CySEC AvaTrade 0% FCA, CySEC, MiFID, ASIC, FSA Japan Pacific Union 0% FSA Seychelles 0% FCA, CySEC, MiFID, ASIC FXTM Start from $20 per million FCA, CySEC, FSCA Saxo Markets 0% FCA, ASIC, MAS, ACPR,, FINMA Admirals Start from $3 per lot FCA, CySEC, ASIC, JSC City Index 0% FCA.

When trading forex you will likely incur some fees, and usually spread and commission are the two main ones that apply. Spread is the difference between the buy and sell price of any pair and commissions are additional charges that are set by your broker on every trade.

Can I use multiple forex brokers.

Yes, you can hold multiple accounts at the same time. Generally, it is easier to place all your trades in the same place, however, unless you’re scalping and trying to profit from the difference in spreads between platforms.

Why do brokers have different prices?

There are a couple of main reasons for it. One is that each broker has to make money, so they may mark up their fee on top of the live market price. The mark up is known as spread and is different on every platform so the prices vary because of it.

The second is that they source their prices from different places. As there is no single ‘forex exchange’, each broker may buy and sell currency from different liquidity providers on the interbank market and there might be small variations in the price they charge.

Are forex brokers regulated?

Not all of them, but the best are regulated by recognised financial bodies. In the UK, they are regulated by the FCA. The Commodities and Futures Trading Commission (CFTC) regulates top forex brokers in the United States.

Trading with an unregulated broker puts your capital at risk, as you have no protection if the platform turns out to be fraudulent. Use these pages to find regulated forex brokers where you live.

Can I trade multiple currencies?

Yes. Forex pairs are referred to as either ‘majors’, ‘minors’, or ‘exotics’. The majors include the US Dollar and top currencies like the British Pound and the Euro.

The minors are the top non-US Dollar currencies pair with each other. Exotics refer to every other combination of currencies.

You can trade as many different currencies as you like. If you want to spread your trades around, though, then you need to make sure your broker offers enough currencies. Not all do, so consider this before signing up.

Do I need any extra software?

You won’t need any extra software but you may choose to download some.

You can usually access the website on your browser or with a specially designed mobile app. However, more experienced FX traders might prefer to link their account up to software like MetaTrader4 or MT5.

Who is the biggest forex broker in the world?

IC Markets is the biggest with an average daily trading volume of more than $18 billion.

The largest broker by region can vary, however. Often brokers in Asia experience the most trading of the USD/JPY pair, for example, while European brokers trade more of the Euro against other currencies.

Can I trade without a broker?

No, you need a broker to trade forex. Currency rates are set by the interbank rate; the rate at which banks buy and sell currencies from each other. In order to trade forex you have to be able to access that market, and the only way to do so is through a broker.

There are different kinds of brokers, however, and some merely act as a vehicle through which you send your trades to the interbank market. Others actually take the other side of your trade.

Can I hedge my forex trades?

Yes, with most brokers outside the US. Hedging is a perfectly legal strategy in most parts of the world, where you can have multiple trades open on the same currency pair in order to reduce the risk of losing money.

In the US it’s different, and there are specific rules that prevent you opening a new trade on a currency pair until you have closed the previous one.

What are the most common forex trading styles?

The three main trading styles on the FX market are scalping, swinging, and investing. While scalping , you’re opening and closing a position very fast, which means your trades must be executed as accurately as possible.

Swing trading involves keeping trades open a bit longer, from a day to a few weeks. When swinging, it’s desirable to find somewhere that offers swap-free accounts, meaning there is no commission or rollover interest for extending your position overnight.

When investing , your trading time frame is often significantly longer. When investing, it’s often helpful to use an ECN broker – a forex financial expert who uses electronic communications networks (ECNs) to give clients direct access to other participants in currency markets.

Methodology: How did we choose the best forex trading platforms?

We reviewed 58+ top forex brokers according to a set of 7 criteria:

Their security and regulation The cost of trading The range of currency pairs Trade execution speed and platform reliability MetaTrader software integration Mobile app availability Their charting tools and indicators.

Our reviewing panel tested each platform and its features on its desktop trading platform, using downloadable software like MetaTrader 4 and with any proprietary software where available.

We signed up to try out the service and to find out the costs of using it. We rated affordability according to the commissions, bid/ask spreads, overnight fees, inactivity fees, and the cost of making deposits and withdrawals. Transaction speeds, the range of assets, analysis tools, and the app were all judged contextually to rate them against the competition.

Each panellist gave each platform an overall rating based on its score for each of the 7 criteria. This testing process allowed our panel to exercise their judgement on which platform is best for which type of user.

The final rating is based on the accumulated score from the entire panel. All factual claims included on this page have been independently checked and verified. Learn more about how we rate, rank, and review platforms.


Do I have to pay tax on forex trading profits?

It depends on how you trade forex. Spread betting doesn’t attract any taxes in the UK, but profits made from CFD trading will be subject to capital gains tax. Check the tax laws where you live to see if you have to pay tax.

Do forex trading platforms have copy features?

Yes, some platforms for forex trading, like eToro, do. Copy trading is a relatively new addition that many platforms now incorporate. When using copy trading you are able to copy the trades of professionals.

Are forex brokers available 24/7?

The forex market is open 24/5, Monday – Friday. You can access your broker to close positions over the weekend, but you aren’t able to open new trades.

Is it possible to short currency pairs on forex brokers?

Yes, it is possible to engage in both short and long selling of foreign currencies, depending on which way you see the price of each currency going.

In fact, many places let you short currencies on a regular basis. Unlike on the stock market, risks associated with shorting are relatively limited, because it’s very unlikely for a currency to fall significantly.

Can I use a forex broker on my phone?

Yes. Most allow you to trade foreign currencies on easy-to-use mobile apps.

Is online forex trading legal?

Yes, in the UK and in the majority of countries around the world. Always check the law where you live before engaging in trading activity, however.

Can I transfer money to my PayPal account from a forex broker?

There are many forex brokers that accept PayPal allow you to withdraw directly into your PayPal account. The best forex broker for this is Oanda.

Are forex brokers anonymous?

No, you will have to provide identification when registering an account with a forex broker. This is because regulated brokers must comply with KYC – Know Your Customer – laws.

Are there trading limits with a forex broker?

Yes, there are typically limits as to how much can be deposited, withdrawn, or traded in a given time period. Typically the minimum deposit with a broker will be in the region of £100, with other limits varying considerably between them.

Can I access my full forex trading history through my broker?

Yes, you can. The broker will keep a record of your trades over time, and you will be able to access this through the dashboard of your account.

Is it easy to switch forex brokers?

Yes, but it takes a few days. You’ll need to close all your positions, withdraw your funds, open an account with a different broker, and deposit the funds into your account. After that’s all gone through you’ll be able to start trading again.