Although Forex trading has been around for decades, recent global trends have made it all the more prominent among investors of all ages. This has led to an increasing number of investment platforms offering Forex trading options.
Choosing a forex broker is not an easy task, which is why Traders Union is here to help you choose the best ones for your needs. On this page, you can compare a full list of top 100 Forex brokers based on various key indicators, including:
Reliability and regulation
Spreads
Minimum deposit
Supported currency pairs
Dozen of additional factors.
You can also use the "Find my broker" tool on the page, which will help you choose the best regulated broker in your country based on your personal criteria.
List of 100 regulated Forex brokers 2024
| Currency pairs | Min. deposit, $ | ECN Spread EUR/USD | Regulation | Open an account | |
|---|---|---|---|---|---|
| 29 | 10 | 0,2 | FSC | Open an account Your capital is at risk. |
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| 96 | 1 | 0,1 | FCA, CySEC, FSA (Seychelles), FSCA, BVI FSC, CBCS, and CMA | Open an account Your capital is at risk.
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| 120 | No | 0,3 | BVI FSC | Open an account Your capital is at risk. |
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| 40 | 5 | 0,3 | MISA | Open an account Your capital is at risk. |
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| 50 | 10 | No | The Financial Commission | Open an account Your capital is at risk. |
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| 70 | 100 | 0,2 | FCA, CYSEC, FSCA, SCB | Open an account Your capital is at risk. |
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| 53 | 100 | No | CBI, ASIC, FSCA, FSA, FFAJ, BVI FSC | Open an account Your capital is at risk. |
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| 55 | 5 | 0,2 | ASIC, FSC, CySEC, DFSA | Open an account Your capital is at risk. |
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| 45 | 200 | 0,1 | ASIC, CySEC, and FSA | Open an account Your capital is at risk. |
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| 80 | 5 | No | MFSA, LFSA, VFSC, BVI FSC | Open an account Your capital is at risk. |
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| 80 | 50 | 0,2 | CySEC | Open an account Your capital is at risk. |
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| 70 | 10 | 0,2 | CySEC, FSC (Mauritius), FSA, FSCA | Open an account Your capital is at risk. |
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| 40 | 50 | 0,20 | FSC | Open an account Your capital is at risk. |
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| 108 | 1 | 0,2 | BVI FSC, CySEC | Open an account Your capital is at risk. |
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| 80 | 100 | 0,1 | FSA, FCA, SCA | Open an account Your capital is at risk.
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| 80 | 100 | 0,2 | FinaCom, MISA, FSC, FSA | Open an account Your capital is at risk. |
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| 90 | 1 | 0,1 | ASIC, FCA, DFSA, BaFin, CMA, SCB, CySec | Open an account Your capital is at risk.
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| 60 | 50 | 0,3 | FSCA, FSA | Open an account Your capital is at risk. |
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| 52 | 25 | No | FSCA, MISA, CySEC | Open an account Your capital is at risk. |
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| 50 | 100 | 0,4 | CySEC, FCA, FSCA | Open an account Your capital is at risk. |
Top 9 Forex brokers review
RoboForex is a well-established
brokerage company offering a broad spectrum of trading opportunities for
active traders and investors alike. With an impressive selection of
over 12,000 financial instruments - including currency pairs, CFDs on
stocks, indices, metals, energies, and futures - RoboForex provides a
versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting
from 0 pips, high leverage up to 1:2000, and fast execution speeds. The
broker also offers the CopyFx investment program, which allows traders
to copy the strategies of successful investors and earn passive income.
Additional perks include instant fund withdrawals and some of the
industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
Exness is one of the world’s
largest brokers, known for its competitive trading conditions, high
security, and wide selection of assets. The company serves over 700,000
active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks,
commodities, indices, and cryptocurrencies. The broker caters to all
experience levels with various account types – from cent accounts and
social trading for beginners to high leverage and Expert Advisor support
for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools,
Exness strives to provide an optimal trading experience.
Forex4you (Markets4you) caters to
a wide range of traders, offering different account types, including
cent accounts and ECN accounts with tight spreads from 0.1 pips. The
broker provides leverage of up to 1:4000, order execution speed from 0.1
sec, and access to over 150 trading instruments, including Forex pairs,
indices, commodities, and stocks. Its proprietary copy trading
platform, Share4you, allows traders to earn additional income by sharing
their strategies or copying successful traders. Additional features
like cashback, bonuses, and partnership programs further enhance the
trading experience.
Markets4you doesn't accept clients from the U.S., Canada, Japan, and EU
countries, but it presents a compelling option for eligible traders
seeking a well-rounded trading experience.
PO TRADE BROKER caters to both
Forex and binary options traders, offering a wide range of trading
instruments, a copy trading service, and passive income opportunities.
Clients can trade CFDs on currencies, cryptocurrencies, stocks, indices,
and commodities with spreads starting from 1.2 pips and no additional
commissions per lot. Pocket Option's unique "My Safe" service offers up
to 10% annual interest on unused account balances.
While the platform excels in serving active traders, its demo accounts and referral program also offer
value to beginners. However, the lack of cent accounts and ECN options
could be a drawback for certain professional traders.
NPBFX is a long-standing broker
offering competitive spreads starting from 0.4 pips and leverage up to
1:1000. Traders can access a variety of markets including Forex, oil,
stocks, and indices. Account types range from beginner-friendly Master
account to more advanced options like Expert and VIP accounts.
NPBFX has fast order execution speeds (50-70 ms), making it suitable for
scalping and high-frequency trading. Moreover, the broker explicitly
indicates that these approaches are welcomed. However, clients should
note that the only available trading platform is MetaTrader 4.
NPBFX doesn't hold licenses from major regulators, but the broker is a
member of the Financial Commission, offering some level of deposit
insurance and dispute resolution.
FxPro is a well-established
broker offering traders access to over 2,100 financial instruments
across multiple asset classes, including Forex, stocks, commodities,
indices, and cryptocurrencies. It is regulated by reputable authorities
– FCA, CySEC and others.
The broker stands out with its focus on technology and offers an average
order execution speed of 14-30 ms, setting a market benchmark. FxPro
also provides an impressive suite of trading tools and educational
resources, such as Trading Central analytics. The minimum deposit of
$100, however, is higher than some competitors.
With a company capital exceeding 100 million euro, and a track record of
reliability, FxPro stands out as a top-tier choice for traders looking
for a secure and dynamic trading environment.
AvaTrade was founded in 2006 in Dublin, Ireland. The company has offices in 10 countries. It currently has over 300, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC, 406684), the Japanese FSA ( 1662), and the South African FSCA ( 45984). AvaTrade holds accreditation by the Central Irish Bank ( C53877 ), the Abu Dhabi Financial Services Regulatory Authority (190018), and the British Virgin Islands Financial Services Commission ( SIBA/L/13/1049), CySEC ( 347/17). AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs. In total, the offer more than 1,200 tools to customers.
TeleTrade is a global broker
serving clients worldwide. They offer trading on Forex, indices, stocks,
metals,cryptocurrencies, and energies. While lacking PAMM accounts and
certain investment options, TeleTrade boasts a robust copy trading
service, a strong affiliate program, and diverse account types (ECN,
NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0
pips, the broker caters to various trading styles, including scalping,
intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an
economic calendar, and a comprehensive education section on their
website.
XM Group is a globally recognized
broker, operational in nearly 190 countries and serving over 5 million
traders. The broker offers over 1,000 trading instruments, including
Forex pairs, stocks, commodities, cryptocurrencies, and precious metals.
With licenses from regulators like ASIC and CySEC, XM ensures a secure
trading environment.
The company is committed to high-speed order execution without requotes,
ensuring 99.35% of trades are completed nearly instantly. The broker's
leverage varies by region, offering up to 1:1000 for some non-EU
countries while maintaining strict compliance with European standards
for others. The spreads start from 0.6 pips.
XM doesn't offer passive investment options like PAMM accounts but
provides access to MQL5 copy trading and a VPS for algorithmic trading.
Useful Forex Facts & Insights
Top 3 Brokers With TradingView Support
TradingView is a well-known trading platform that supports advanced charting tools. Traders Union has compiled a list of the top 3 brokers that offer trading directly from TradingView charts. This trading platform can help you expand your arsenal for analysis and decision-making in trading.
| TradingView support | |
|---|---|
| Yes | |
| Yes | |
| Yes |
Warning: There is a high level of risk involved when trading leveraged products such as Forex/CFDs. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
How do we complete TOP 100 Forex brokers' rating
When it comes to rating the top Forex brokers, there are plenty of things to consider. Here is a list of some of the top variables that enables us to compile this list:
Trust level and regulation
One of the top things to focus on when choosing the top Forex brokers is trust level and regulation. This is because there are some fraudulent Forex brokers on the market, which means investors must take the time to learn more about their chosen platforms before investing. Failing to ensure that users consider a platform trustworthy or that it is regulated may result in falling into scams and other fraudulent activity.
Trading conditions and fees
Another highly important aspect of finding a Forex broker is the trading conditions and fees. Learning about these will allow you to learn how much you may have to pay to conduct trades and under what terms.
Trading platforms
Forex brokers use an array of platforms, and they are not all the same. Finding out which platform(s) are used by your chosen Forex broker will enable you to decide whether the platform works for your investment goals and capabilities.
Extra tools
All brokers offer their own unique tools to help traders. You should choose a broker that offers tools that most closely align with your investment goals.
Education
Lastly, many brokers offer educational tools. However, they are not all created equal. If you are a beginner, you will want to work with brokers offering the most robust educational tools selection.
What is the best Forex broker for beginners?
When choosing the best Forex broker for beginners, you should be searching for brokers with low minimum deposits. You will also want to find out if they offer special accounts for beginners, such as Cent, Micro, or Demo accounts. Lastly, you should find out if they offer passive income options such as copy trading, PAMM/MAM accounts.
| Demo | Cent | Copy trading | Open an account | |
|---|---|---|---|---|
| Yes | Yes | Yes | Open an account Your capital is at risk.
|
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| Yes | Yes | Yes | Open an account Your capital is at risk. |
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| Yes | Yes | Yes | Open an account Your capital is at risk. |
|
| Yes | No | Yes | Open an account Your capital is at risk. |
|
| Yes | No | Yes | Open an account Your capital is at risk. |
How to choose the best Forex broker for me?
Focus on regulation and security. This is the most important factor. Only trade with brokers that are regulated by reputable authorities like the FCA in the UK or the CFTC in the US. This ensures your money is protected and that the broker follows fair trading practices.
Compare costs and spreads. Forex brokers make money through spreads (the difference between the buy and sell price) and commissions. Compare spreads and commission structures of different brokers to find one that suits your trading style. Brokers offering commission-free trades may have wider spreads, so factor in your trading volume.
Trading platform. Most brokers offer popular forex trading platforms like MetaTrader 4 (MT4). Consider the features that are important to you, such as charting tools, technical indicators, and ease of use. Some brokers offer demo accounts so you can try out the platform before you commit.
Account features. Look for brokers that offer account types that suit your experience level. Beginners may prefer accounts with lower minimum deposits and educational resources, copy trading etc. More experienced traders may need features like margin accounts and advanced order types.
Customer support. Reliable and responsive customer support is essential. Check the broker's hours of operation and how you can contact them (phone, email, live chat).
How to compare top Forex brokers in the world
If you want to compare multiple Forex brokers at once, there are a few ways to do so. One of which is by using our free comparison tool. Here is a list of steps to allow you to compare the best Forex brokers in the world:
Navigate to the ‘find a broker box’ and type the name of the broker you want to compare into the box.
Next, click the scales next to the right of all the brokers you want to compare.
Next, navigate to the ‘go to compare’ button.
Click the button and wait for the chart to repopulate.
How to compare top Forex brokers in the worldIs Forex trading legit?
Forex trading itself is legal in most countries, though it is lightly regulated compared to other financial markets like stocks or commodities. There are many regulated brokers that allow individuals to trade currencies online or through trading platforms. So Forex trading is accessible for regular investors.
There are some Forex scams and "get rich quick" schemes to avoid. Stick to regulated brokers and be wary of claims that seem too good to be true.
Like any trading, Forex involves risk. The high leverage offered by brokers means potential for large losses if trades go the wrong way. There is no guarantee of profits. Beginners should take time to learn trading strategies before risking real money.
For most traders, Forex is considered a legitimate market to speculate on currency movements. But it requires knowledge, discipline and accepting the risk of losses. With proper preparation, Forex can be an intriguing market to trade in.
How much do Forex traders make?
The nature of Forex earnings is that the income level is not fixed and earnings depend on many factors. However, don’t be discouraged by that statement because you can certainly make good money in the Forex market. Moreover, you can make really good money like the Chinese trader Chen Linkuy, who started with a deposit of $100 and, in just a few weeks, had profited $100,000.
Linkuy obviously used tremendous leverage and clearly violated the rules of money management using extremely high-risk strategies. However, this is not an isolated case, but just one of the few that has been made public. On the Internet, you can find many similar stories about how people earned $1,000, $10,000, and other significant amounts at Forex, starting from scratch. However, Linkuy’s level of income is rarely written about, for the obvious reason that high earners at any activity tend to avoid publicity, and publicity often leads to tax audits.
Methodology for compiling our ratings of Forex brokers
Traders Union applies a rigorous methodology to evaluate brokers using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under.
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Brokers are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Brokers are assessed based on the variety, quality, and features of platforms offered to clients.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Find out more about the unique broker assessment methodology developed by Traders Union specialists.
