Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us


Grab your $30 from XM

What are the best Forex brokers and how to choose the right one?

XM

XM Forex Broker Review

Minimum deposit

5$

Regulation

CySEC, FCA

Bonus

30$, 50%+20%

Maximum leverage

1:888

Year founded

2009

Trading platform

MT4, WebTrader

Markets.com

Markets.com Review

Minimum deposit

100$

Regulation

CySEC, FSB

Bonus

N/A

Maximum leverage

1:300

Year founded

2008

Trading platform

Custom

ITRADER

ITRADER Review

Minimum deposit

250$

Regulation

CySEC

Bonus

N/A

Maximum leverage

1:500

Year founded

2012

Trading platform

Custom

GMOTrading

GMOTrading

Minimum deposit

250$

Regulation

CySEC

Bonus

N/A

Maximum leverage

1:500

Year founded

2015

Trading platform

MT4

Trader.Online

Trader.Online Forex Broker Review

Minimum deposit

250$

Regulation

N/A

Bonus

75%

Maximum leverage

N/A

Year founded

2018

Trading platform

Simplex, Custom

Plus500

Plus500 Review

Minimum deposit

100$

Regulation

FCA

Bonus

N/A

Maximum leverage

1:300

Year founded

2008

Trading platform

Custom

Forex.com

Forex.com Broker Review

Minimum deposit

250$

Regulation

FCA, NFA

Bonus

N/A

Maximum leverage

1:200

Year founded

1999

Trading platform

MT4

EasyMarkets

EasyMarkets Review

Minimum deposit

25$

Regulation

CySEC, ASiC

Bonus

N/A

Maximum leverage

1:200

Year founded

2003

Trading platform

MT4, WebTrader

Z.Com Trade

Z.Com Trade Review

Minimum deposit

5$

Regulation

FCA

Bonus

N/A

Maximum leverage

1:200

Year founded

2005

Trading platform

MT4

Trade.com

Trade.com Broker Review

Minimum deposit

100$

Regulation

CySEC, MiFID

Bonus

N/A

Maximum leverage

1:100

Year founded

2009

Trading platform

MT4, WebTrader

Deltastock Review

Deltastock Review

Minimum deposit

100$

Regulation

MiFID

Bonus

N/A

Maximum leverage

1:200

Year founded

1998

Trading platform

MT4

Grand Capital

Grand Capital Review

Minimum deposit

10$

Regulation

FinaCom

Bonus

N/A

Maximum leverage

1:2000

Year founded

2006

Trading platform

MT4

Vinci Capital Markets

Vinci Capital Markets Review

Minimum deposit

5$

Regulation

CySEC

Bonus

N/A

Maximum leverage

1:200

Year founded

2015

Trading platform

Sirix

eToro

eToro Review

Minimum deposit

200$

Regulation

CySEC, FCA

Bonus

N/A

Maximum leverage

1:100

Year founded

2008

Trading platform

Custom

LCG

London Capital Group Review

Minimum deposit

100$

Regulation

FCA

Bonus

N/A

Maximum leverage

1:300

Year founded

1996

Trading platform

Custom

FXDD

FXDD Review

Minimum deposit

100$

Regulation

MFSA

Bonus

N/A

Maximum leverage

1:400

Year founded

2002

Trading platform

Currenex, MT4

Wisetrader

Wisetrader.com review

Minimum deposit

250$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:200

Year founded

2016

Trading platform

MT4

IKON Finance

IKON Finance Review

Minimum deposit

500$

Regulation

FCA

Bonus

N/A

Maximum leverage

1:500

Year founded

2010

Trading platform

MT4

Salma Markets

Salma Markets broker review

Minimum deposit

10$

Regulation

IFSC

Bonus

N/A

Maximum leverage

1:1000

Year founded

2014

Trading platform

MT4

ForexChief

ForexChief broker review

Minimum deposit

100$

Regulation

N/A

Bonus

20$

Maximum leverage

1:400

Year founded

2016

Trading platform

MT4

Royal Capital Pro

Royal Capital Pro broker review

Minimum deposit

500$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:200

Year founded

2016

Trading platform

MT4

RiftFX

RiftFX Review

Minimum deposit

100$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:100

Year founded

2017

Trading platform

MT4

FTO Capital

FTO Capital

Minimum deposit

250$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:500

Year founded

2016

Trading platform

MT4

iBrokers

iBrokers Review

Minimum deposit

1$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:100

Year founded

N/A

Trading platform

MT4

S2Trade

S2Trade broker review

Minimum deposit

500$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:200

Year founded

2017

Trading platform

MT4

Templer FX

Templer FX Broker Review

Minimum deposit

25$

Regulation

FSA

Bonus

N/A

Maximum leverage

1:1000

Year founded

2005

Trading platform

MT4, Custom

HotForex

HotForex Review

Minimum deposit

5$

Regulation

CySEC, FSA

Bonus

N/A

Maximum leverage

1:1000

Year founded

2010

Trading platform

MT4, Custom

XTrade

XTrade Review

Minimum deposit

100$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:400

Year founded

2015

Trading platform

Custom

FxBmTrade

FxBmTrade Review

Minimum deposit

250£

Regulation

N/A

Bonus

N/A

Maximum leverage

1:200

Year founded

2017

Trading platform

Custom

Capital Index

Capital Index Review

Minimum deposit

0$

Regulation

CySEC, FCA

Bonus

N/A

Maximum leverage

1:200

Year founded

2014

Trading platform

MT4

FXGiants

FXGiants Review

Minimum deposit

100$

Regulation

FCA

Bonus

N/A

Maximum leverage

1:500

Year founded

2015

Stocksforex

Stocksforex Review

Minimum deposit

100$

Regulation

CySEC

Bonus

N/A

Maximum leverage

1:100

Year founded

2016

Trading platform

MT4

Trade360

Trade360 Broker Review

Minimum deposit

100$

Regulation

CySEC

Bonus

10$

Maximum leverage

1:100

Year founded

2016

Trading platform

MT4

AvaTrade

AvaTrade Review

Minimum deposit

100$

Regulation

CySEC

Bonus

up to 1,200$

Maximum leverage

1:200

Year founded

2006

Trading platform

MT4

ECMarkets

ECMarkets Review

Minimum deposit

100$

Regulation

CySEC

Bonus

50$

Maximum leverage

1:100

Year founded

2007

Trading platform

MT4

Lite Forex

Lite Forex Broker Review

Minimum deposit

100$

Regulation

SIBA

Bonus

N/A

Maximum leverage

1:200

Year founded

2012

Trading platform

MT5

ACFX

ACFX Broker Review

Minimum deposit

100$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:200

Year founded

2011

Trading platform

MT4

4XP

4XP Review

Minimum deposit

500$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:100

Year founded

2009

Trading platform

MT4

Bforex

Bforex Broker Review

Minimum deposit

250$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:100

Year founded

2007

Trading platform

MT4

FxClub

FxClub Forex Broker Review

Minimum deposit

1000$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:100

Year founded

2005

Trading platform

ActTrader

InstaForex

InstaForex Review

Minimum deposit

100$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:500

Year founded

2005

Trading platform

MT4

FXCM

FXCM Forex Broker Review

Minimum deposit

100$

Regulation

CySEC, FCA

Bonus

N/A

Maximum leverage

1:100

Year founded

2009

Trading platform

Trading Station

UFX

UFXMarkets Review

Minimum deposit

100$

Regulation

CySEC

Bonus

N/A

Maximum leverage

1:200

Year founded

2011

Trading platform

MT4

ForexYard

ForexYard Review

Minimum deposit

100$

Regulation

CySEC, MiFID

Bonus

N/A

Maximum leverage

1:200

Year founded

2005

Trading platform

MT4, Web

Stern Options

SternOptions Review

Minimum deposit

250$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:1

Year founded

2016

Trading platform

Web

KeyOption

KeyOption Review

Minimum deposit

250$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:1

Year founded

2015

Trading platform

Web

UltraTrade

UltraTrade Review

Minimum deposit

250$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:1

Year founded

2016

Trading platform

Web

TorOption

TorOption Review

Minimum deposit

250$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:1

Year founded

2016

Trading platform

Web

KeyStock

KeyStock Review

Minimum deposit

250$

Regulation

MIFID

Bonus

N/A

Maximum leverage

1:200

Year founded

2015

Trading platform

MT4, WebTrader

TraderNovo

TraderNovo Review

Minimum deposit

$100

Regulation

N/A

Bonus

N/A

Maximum leverage

500:1

Year founded

2015

Trading platform

MT4

JAFX

JAFX broker review

Minimum deposit

250$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:500

Year founded

2013

Trading platform

Custom

Trade Capital

Trade Capital broker review

Minimum deposit

250$

Regulation

N/A

Bonus

N/A

Maximum leverage

1:100

Year founded

2017

Trading platform

Custom

Retail FX trading has only started to develop in the late 90’s. Until then, only large companies, banks, various funds, and similar companies were only privileged to buy and sell the currencies online. However, some 20 years ago the first brokers opened the doors for the regular traders.

Hence, it is possible to say that the industry is quite young. Even though there were some ups and downs (e.g. Swiss National Bank’s decision to unpeg the Franc), the vast majority of the best Forex brokers have remained very profitable throughout the times. This has resulted in establishing the one of the most competitive industries with one of the largest profit margins. This is why there are now so many top FX brokers servicing the clients across the globe.

Below we will display the rating table of the top-notch companies and then follow up with a directory of brokers depending on your geographical, technical and other preferences.

Best Forex broker reviews and ratings

The table above showcases the most trusted FX brokers for you to start with. Simply navigate throughout the table to find the broker that matches you preference, read the reviews to get to know the broker better, or simply open an account (we suggest to start with a demo first) to get the hands on experience.

Now let us give you a quick guide about the locally regulated and top rated Forex brokers around the world.

Top Forex brokers in North America

Just when the retail FX sector has kicked off, the North America has been a primary market for the brokers. People from this region are known for their entrepreneurial spirit, high networth, and most importantly – the majority of the North American residents can be served in English.

US Forex Brokers (NFA)

However, during the mid 2000’s, the game has changed quite a lot. Most of the US Forex Brokers had to seize their operations as the local regulators (National Futures Association and Commodity Futures Trading Commission) have placed quite heavy entry barriers for the brokers that want to keep on serving the US clients. This is why today we are seeing a way larger number of the NFA regulated Forex brokers than it was just about a decade ago.

Canadian FX Brokers

An even worse story goes in Canada. Currently, there are no Forex brokers that can legally serve the clients and are regulated locally. However, there are many offshore companies that will happily accept Canadian clients. Here we have prepared a Canadian Forex brokers list that will help you find a proper place for your currency trading activities.

Mexican Forex Brokers

Luckily, things are a bit brighter in Mexico. Forex trading has never been prohibited in the country, yet it has not been regulated properly too. This is why until now there has not been a single Mexican Forex broker company. Most of the Mexican clients are services by the European or Offshore brokers.

There are more countries in the region, yet they are considerably smaller. Hence, we have omitted those from our listing of the best Forex brokers list in the North America.

Trusted Forex brokers in Europe

Europe has been the home from the largest part of the FX brokerages. Even though many of those have either Israeli or Russian roots, these brokers have been headquartered in the EU for years. Two main European geographies for regulating and hosting FX companies are Cyprus and the United Kingdom.

Considering that European Union does require a company to obtain a local regulation in each of the member states and allows offering regulated FX trading in all of the countries as long as the company has obtained at least one EU Regulation and the passporting in the remaining countries, the popularity of the FX trading in Europe has been very high.

UK Forex Brokers (FCA)

Today we can see a great number of the UK Forex brokers. Even though many companies have been quite hesitant about establishing their operations in England after the Brexit, the country still provides a great level of staff expertise, powerful regulation and a clear set of requirements. Here you can find more information about the FCA regulated Forex brokers and their advantages.

Cypriot Forex Brokers (CySEC)

The vast majority of the FX brokers are regulated in this sunny Mediterranean iceland. Firstly, it was considered a tax haven, and this is why Cyprus attracted many financial companies. Secondly, the Cypriot Securities and Exchange Commission has made a licensing of the Forex brokerage quite easy and fast, so the brokers knew that getting an EU license in Cyprus would be advantageous. Finally, hosting so many FX companies on an island with a population just above 1 Million inhabitants resulted in having a very high density of the FX specialists.

Western European Forex brokers

It is clear that the Western part is a home of the richest Europeans. Still, the number of the locally regulated brokerage companies is rather small.

Throughout the history we have seen some brokers looking to get on the list of the BaFin regulated Forex brokers and, not so many of them have succeeded. Even though most of the Germans can be easily served by the UK and CySEC brokers, German Forex brokers also exist.

Quite a similar story goes on in France. It is a large market with high networth individuals. Still, the number of AMF regulated Forex brokers have remained drastically small. Next to this, during the last years the regulator have been fighting unauthorised brokers, binary scams, and other toxic financial products. Still there are quite some French FX brokers to choose from, especially the ones that operate a French desk but are regulated elsewhere.

The Dutch market is also heavily regulated, but quite small in the same time. This is why many brokers have rarely expressed a desire to become locally regulated and get on the list of approved Forex brokers in the Netherlands. However, considering the Dutch-British historical relationship, the Dutchies can be easily served by the FCA brokers.

Nordic Forex Brokers

Nordics are, perhaps, the best markets in Europe for literally any online services. The weather is bad and the people are wealthy. Even though the population of the countries within the region is rather small, there are many brokers that can support the local languages. Also, throughout the history there have been locally regulated Swedish Forex brokers that were serving the local citizens.

As for the Norwegian Forex brokers, it seems like the service has been mostly provided by the banking sector. Same goes for the Danish Forex brokers list, it remains quite empty.

On the other hand, Forex brokers in Finland existed before, but now the traders from this country are more likely to be served from the neighbourhood countries like Estonia and Latvia.

African Forex brokers and partners

Arica is quite an interesting continent when it comes to various online services and online trading has not been an exception. Perhaps the most developed country in terms of the FX services is South Africa. The market started developing in early 2000’s and there has been quite a few FSB regulated Forex brokers that are servicing the clients in South Africa and the other countries on the continent.

Another interesting country in terms of the FX trading is Nigeria. Even though there is no local regulation for currency trading, the list of Nigerian Forex brokers has been mostly made out of the Russian brokers that have opened up local branches.

While South Africa and Nigeria were the key countries for the FX business in Africa, there are more countries that are developing rather fast. Recently, there have been quite many Forex brokers operating in Kenya as the country keeps on getting more developed.

List of the Asian Forex companies

Asia has been a great EU-alternative for many FX brokers. The countries’ populations are high, while the networth of the traders is rather small. However, the human resources tend to be rather inexpensive, so a brokerage can organise all of the supporting activities within a small budget. Indian Forex brokers are mostly unregulated, as trading any currency pair that does not contain INR (Indian Rupee) in it is outlawed.

Similar story goes with the surrounding countries. Best Forex brokers in Sri Lanka and top Forex brokers in Bangladesh have been operating without the local licenses, these companies are either completely unregulated or authorised by a certain offshore country like Believe or Seychelles. The lack of the regulation is the main reason why some of the trusted Forex brokers have not commenced any activities in this region. Perhaps in the very close future the regulative environment will change and Forex brokers in Pakistan and the bordering countries could operate legally under Dubai’s license.

Conversely, Singaporean Forex brokers and FX brokerages in Philippines could be operated legally either by applying for a local regulation or if the brokerage servicing this countries is on the list of the ASIC regulated brokers and dealers. Unlike brokers from these countries, Thailand Forex brokers have remained in the grey area until now.

Australian FX & CFD brokerages

The country down there is actually one of the most developed FX markets in the world. Considering that the local regulation has been available for years and that most of the companies could hardly service the clients due to the time difference, there were many Australian Forex brokers started up locally. These brokers are aiming at servicing the local market and South-East Asian countries.

Forex brokerages per trading software

The key task of the broker is to supply a trader with the support and the convenient way to trade currencies and CFDs online. The latter mostly depends on the trading platform or platforms that a broker supplies to its clients. In this section we are going to focus on the majorly adopted trading software, so you can select the section that goes in line with your desires and trading experiences.

MT4 brokers

MetaQuotes was the pioneer in the 3rd party FX software development and this has allowed it to take the largest market share by fare. Today there are more MetaTrader 4 Forex brokers than any other type of brokers.

Even though the platform is dated and it has been officially announced that MetaQuotes has discontinued the support of this version, it is still a great piece of software for the starters. Why? Because it has the largest number of trading robots, supporting articles, custom indicators and so on.

MT5 FX brokers

The main reason why MT4 support has been stopped is because MetaQuotes wants to focus on its newer development. The list of MetaTrader 5 FX brokers has been rather slim, yet there are more brokers adopting this software every year.

While the platform has remained quite inferior when compared to its previous version, lately MetaQuotes has provided a set of important updates and this tells us that within the next couple of years MT5 will become the main retail FX trading platform. It still lacks all of the great community features that MT4 has created, but this is only the question of time until all of the best Forex brokers will adopt this platform.

cTrader brokers

If you are looking for a non-dealing desk platform that is slick, fast and great to use – you should then definitely browse our list of the cTrader FX brokers and pick up the best one. Even though the platform has been on the market for almost 10 years, there have not been too many brokers that have offered this software to their clients.

Every cTrader brokerage will also go into our list of the ECN Forex brokers as a unique feature of this software is the transparency.

Forex cryptocurrency brokers

Many currency and best CFD brokers have recently added various coins and tokens into their armory of the trading assets. This has let them separate from pure FX and start becoming cryptocurrency brokers, which is certainly a hot niche on the market.

Most of the FX brokers that have gone crypto will offer some sort of the leverage, and this will be a major advantage when compared to regular cryptocurrency exchanges.

The final point

While you are here to find the best Forex broker for your trading, you should note that this is not a very simple process. This is why we invite you to read Forex broker reviews and the methodologies used to assess these companies, as this is vital for finding the best place for your trading.

In addition to this, we have prepared a great Forex broker comparison chart that lets you preview the advantages, weak points, and features of the FX trading brokerages at one single page.

Finally, we are always keeping our list of Forex scams updated, so you can quickly verify if the company that just called you and claimed to be a top Forex broker is actually not a fraud.