"best forex brokers"

Since your forex broker will be your primary trading partner, you want to choose one carefully to make sure they are reputable and will fit your requirements as a trader.

Top forex bonuses

Best Forex Brokers, "best forex brokers".

Open a demo account with an online broker you’re thinking of using to see whether it is a good fit. Demo account trading can also help prevent potentially costly errors that might arise from you being unfamiliar with the broker’s trading platform. You can check out benzinga’s FOREX.Com review for more information about this excellent broker.

Best forex brokers

Luke jacobi

Contributor, benzinga

Want to jump straight to the answer? The best forex broker for most people is definitely FOREX.Com

Forex trading is arguably one of the easiest financial markets to begin trading in. To get started, you just need to open and fund an account with a regulated online broker. Choosing the best forex broker to trade forex through does require some initial research to find the one most suitable for your trading needs and experience level.

Best forex brokers right now:

Best overall forex broker: FOREX.Com

Best for beginner traders: etoro

Best for non-US traders: HYCM

Best for commodities: avatrade

Best for intermediate traders: pepperstone

Best for advanced forex traders: interactive brokers

Best for mobile traders: plus500

Best forex platform: IG markets

Table of contents [ hide ]

The best forex brokers

Benzinga’s picks for the best forex brokers in 6 key categories appear below along with details about each broker and a screenshot of their trading platforms.

Account minimum

Pairs offered

Minimum trade size

Spread

Commisions

1. Best overall forex broker: FOREX.Com

FOREX.Com is a subsidiary of GAIN capital holdings (NYSE: GCAP) and ranks as the best overall forex broker.

You will only need $50 to open up an account to start trading up to 80 currency pairs on FOREX.Com’s advanced trading platforms, which include metatrader for non-U.S. Residents.

This broker accepts U.S. Clients and is regulated in the U.S. By the commodities futures trading commission (CFTC) and the national futures association (NFA). FOREX.Com also has oversight from regulators in 6 major world jurisdictions through its subsidiaries.

You can check out benzinga’s FOREX.Com review for more information about this excellent broker.

Account minimum

Pairs offered

Minimum trade size

Spread

Commisions

2. Best for beginner traders: etoro

Etoro specializes in social trading, which is ideal for beginners since you can follow the trades of expert traders with a proven track record. In addition to its world-class social trading network, etoro has excellent educational resources for forex beginners. Etoro’s intuitive multi-asset trading and social trading platforms and apps can be used by anyone immediately. Unfortunately, etoro does not support the metatrader 4 and 5 (MT4 and MT5) trading platforms.

The broker lets you trade over 2,000 different assets and has a minimum deposit of $50. Etoro currently accepts clients from most U.S. States where it is registered with the U.S. Financial crimes enforcement network (fincen) as a money services business, instead of with the NFA and CFTC as an online broker. The company is also regulated in australia, the U.K. And cyprus in the EU.

Etoro trading platform. Source: etoro.

Account minimum

Pairs offered

Minimum trade size

Spread

Commisions

3. Best for non-US traders: HYCM

Highly regulated HYCM offers stocks, forex, indices, cryptocurrencies, commodities and etfs. The company also offers excellent trading conditions and great liquidity.

HYCM uses metatrader 4 to trade the markets and adds in technical analysis, flexible trading systems and expert advisors (eas).

You’ll also encounter low spreads and low-cost trading, which includes 3 spread levels: fixed spreads, variable spreads and raw spreads:

You can access up to 500:1 leverage through HYCM, depending on where you live and which currency pair you’re trading.

Account minimums with HYCM may vary depending on your base currency and the type of account you open. You should have at least $100 to $200 ready to go before you open an account.

You can customize your account levels with varying fee structures to fit your risk tolerance and trade frequency.

HYCM even offers swap-free accounts that do not accrue interest for each of its fee types to allow islamic investors to trade freely without worrying about being in conflict with religious laws.

You’ll also find a range of education and research tools for endless education opportunities through HYCM.

Account minimum

Pairs offered

Minimum trade size

Spread

Commisions

4. Best for commodities: avatrade

Avatrade, one of the most secure brokers in the industry, carries 7 regulations across 6 continents (europe, australia, japan, british virgin islands, UAE and south africa). You’ll be pleasantly surprised by its asset availability, leading platforms and generous trading conditions (you can leverage your positions up to 400:1).

Avatrade offers an exceptionally user-oriented perspective, including a 24-hour multilingual support desk for a broad range of instruments, platforms and services for every level of trader. Instruments include:

Forex

Stocks

Commodities

Cryptocurrencies

Indices

You’ll find a range of automated trading platforms, including desktop, tablet, mobile and web-based trading with metatrader 4, metatrader 5, its proprietary webtrader, avaoptions and the award-winning avatradego. Client funds are held in segregated accounts for increased security and fast profits withdrawal.

Avatrade’s innovative technology and cutting-edge trading features also include 1-on-1 training sessions with a dedicated account manager.

Commissions

Account minimum

5. Best for intermediate traders: pepperstone

U.K.-based pepperstone gets our vote for best broker for intermediate traders. It has regulatory oversight in the U.K. And australia, although it does not currently accept U.S. Clients. The broker lets you trade in 61 major, minor and exotic currency pairs and requires a minimum deposit of $200. Pepperstone provides support for the metatrader 4 and 5 and ctrader platforms.

In addition to forex, pepperstone offers trading in cryptocurrencies, energy, metals, commodities and stock index contracts for difference (cfds). Customer balances are maintained in segregated accounts for safety in the australian national bank and barclays U.K.

Pricing

Account minimum

6. Best for advanced forex traders: interactive brokers

Interactive brokers offers some of the lowest costs in the business, including a $0 commission on U.S.-listed stocks and exchange-traded funds (etfs). Because of interactive’s world-class brokerage services in 33 countries that cover 134 markets worldwide, the company has oversight from most of the world’s largest financial regulators, including the U.S. SEC, CFTC and NFA. Interactive also submits to regulatory oversight in the U.K., australia and canada, and it has agencies in japan, hong kong, india and luxembourg.

Interactive brokers offers trading in 23 different currencies and their pairs, and the broker requires a $10,000 minimum margin deposit that is applied to commissions for the first 8 months, followed by a $2,000 minimum starting on the 9th month.

Minimum commissions apply, as well as maintenance fees and charges for inactivity, so interactive brokers would be best for advanced, active and well-funded professional traders. Interactive’s proprietary trading platforms, including its client portal, desktop trader workstation (TWS) and mobile application have been rated as some of the best in the business.

7. Best for mobile traders: plus500

U.K.- based plus500 has oversight from the FCA and is a leading provider of CFD trading on over 1,000 tradable assets including forex currency pairs, stock shares, cryptocurrencies, etfs, options and indices. The company keeps your money in segregated accounts but does not offer services to U.S.-based clients.

Plus500 offers trading in 70 currency pairs featuring competitive spreads on its forex cfds and leverage of up to 300:1. The intuitive interface featured on both the plus500 desktop and mobile trading platforms can be accessed immediately by novices and professionals, which makes plus500 our pick for mobile traders.

Commissions

Account minimum

8. Best forex platform: IG markets

IG markets gives clients access to trade cfds in more than 17,000 different markets including forex, shares, indices, commodities, bonds, etfs, options and short-term interest rate cfds. You can trade up to 80 different currency pairs through IG and the broker requires a $250 minimum deposit.

IG accepts U.S.-based clients due to oversight from the CFTC and NFA. IG holds your money in segregated accounts under trustee arrangements for added security. In addition to its proprietary trading platform, IG offers support for 3rd-party forex platforms such as metatrader 4 and prorealtime. It also allows application programming interface (API) trading.

Forex market explained

In the forex market, traders agree to exchange 1 currency for another to make a transaction in that currency pair at a particular level known as the exchange rate. Like stock prices, this exchange rate fluctuates based on supply and demand factors, as well as on the forex market’s overall expectations of future events.

Forex traders can make money on a currency transaction in 2 ways. First, if they buy or go long a currency and it goes up in value versus the sold currency, then they earn a profit. Second, if they sell or go short a currency and it goes down versus the bought currency, then they also profit.

Many currency pairs quoted in the forex market show substantial volatility or fluctuations, which can result in gains or losses for traders. The daily candlestick chart below shows changes in the exchange rate of the EUR/USD currency pair, which is the european union’s euro quoted in terms of the U.S. Dollar from november 2018 until april 2020.

EUR/USD daily candlestick chart. Source: metaquotes.

Risk and reward in forex trading

Rewards are generated in forex trading when you take a long or short position in a currency pair that subsequently appreciates in value. The risk in doing a forex transaction is when the market doesn’t perform as expected once you have done a forex trade.

Many brokers allow traders to magnify the gains or losses they take on a position via the use of leverage. Leverage is typically expressed as the ratio of the size of a position you can control by placing one unit of base currency on deposit as margin. Hence, a 500:1 leverage ratio would mean that you can control a $500 position with a $1 margin deposit.

Furthermore, most successful traders have a minimum risk/reward ratio for a trade before they will consider taking it, such as 1:2 or 1:3. For example, if you think the chances of a trade making 20 pips is around the same as the chances of it losing 10 pips, then your risk/reward ratio of that trade is 1:2. If that meets your risk/reward ratio criteria, then you might consider that trade worthy of executing.

Choose your broker wisely

Since your forex broker will be your primary trading partner, you want to choose one carefully to make sure they are reputable and will fit your requirements as a trader. Open a demo account with an online broker you’re thinking of using to see whether it is a good fit. Demo account trading can also help prevent potentially costly errors that might arise from you being unfamiliar with the broker’s trading platform.

Methodology

These top brokers were chosen for this review for various reasons depending on the specific category in which we felt they excelled. Baseline requirements included the strength of their regulatory environment, their generally good overall reputation with clients earned over an extended period and a substantial number of currency pairs available for trading.

Top U.S.-regulated forex brokers

The foreign exchange (forex) market runs 24/7, offers global currency pairs for trading. The market is driven by geopolitical developments, news, the release of macro-economic data, and related developments. On one hand, such a global market offers enormous trading opportunities, but on the other, it is challenging to protect individual traders from any financial irregularities. Thus, regulations were introduced through an established framework that ensures that financial intermediaries, like forex brokers, comply with the necessary rules to offer loss protection and controlled risk exposure to individual traders.

Learn more about the basics of forex market regulation in the U.S., as well as some of the popular forex brokers in the country.

Key takeaways

The commodity futures trading commission and the national futures association are responsible for regulating the forex market in the U.S.

All U.S. Forex brokers must be registered with the NFA.

The dodd-frank act, which was signed into law in 2010, constitutes the primary body of rules governing forex trading.

Some of the most popular forex brokers include FOREX.Com, OANDA, TD ameritrade, ATC BROKERS, thinkorswim, interactive brokers, and ally invest.

U.S. Forex market regulation

There are two institutions responsible for regulating the forex market in the united states—the commodity futures trading commission (CFTC) and the national futures association (NFA).

Every forex broker operating in the U.S. Must register with the CFTC. The laws enforced by the CFTC and NFA apply to both U.S.-based forex brokers, as well as any other forex broker who intends to serve clients in the country.

All U.S. Forex brokers (including the introducing brokers) must be registered with the national futures association (NFA), the self-regulating governing body that provides the regulatory framework to ensure transparency, integrity, abiding of regulatory responsibilities, and protection of various market participants. The NFA also offers an online verification system called background affiliation status information center (BASIC), where forex brokerage firms can be verified for having necessary regulatory compliance and approval.

One point to note is that the securities exchange commission (SEC) does not have authority over the forex market because it doesn't consider currency pairs a security.

Daily trading volume has reached as high as $4 trillion in the forex market.

Dodd-frank act: forex rules

In the united states, the dodd-frank act constitutes the primary body of rules governing forex trading. Signed into law in 2010 by president obama, it reformed insufficient financial regulation that allowed too much leeway to financial institutions, which contributed to causing the 2007-2008 financial crisis.

These regulations have scared off both forex brokers and retail traders. There are fewer forex brokers currently operating in the U.S. Compared to other areas in the world—primarily because of the regulations enforced by the NFA.

U.S.-regulated forex brokers

This list of seven U.S.-regulated forex brokers—that remain after dodd-frank washout—is not in any particular order, and it is not comprehensive:

FOREX.Com

Owned by NYSE-listed parent company, GAIN capital holdings, inc. (GCAP), FOREX.Com offers many salient features like tight forex spreads, timely trade executions, a mobile trading platform, and numerous technical research indicators in 29 different languages.

FOREX.Com trading offers integration across metatrader 4 or forextrader PRO platforms. There are three ways traders can trade—advanced trading, web trading and mobile trading applications.

High volume traders get cash rebates, earned interest, and bank fees waived.

OANDA

OANDA is another popular broker offering competitive spreads with no commissions and deep market liquidity, along with its OANDA marketplace. It offers loads of features for forex traders such as forex tools, products, advanced analytical tools, forex news, training videos, and MT4 plugins from OANDA and associated partners.

You can start with a free demo. The site also offers benefits for high volume traders. You can get a discounted spread, a subscription with a partner platform, free wire transfer among other perks.

TD ameritrade

TD ameritrade offers powerful charting tools, capable of comparing multiple currency pairs alongside each other, as well as providing any necessary technical indicators. Customers can also analyze social sentiment from twitter. The brokerage also provides reputable third-party research tools from morningstar and market edge.

The firm promises no hidden fees, access to its mobile trading app, and 24/7 support.

Verify a forex broker's status by using its NFA ID or firm name through the NFA's background affiliation status information center.

ATC BROKERS

STP execution, no dealing desk, scalping allowed, multiple brackets order along with other risk management tools like breakeven capability, custom trailing stop-loss, and more enable ATC BROKERS to be one of the popular regulated brokers in the U.S.

The broker also provides access to news events and an economic calendar, along with support through email, phone, and online chat.

Thinkorswim

Thinkorswim by TD ameritrade is another popular U.S.-regulated forex broker that offers to trade in more than 100 global currency pairs.

You can sync the platform on multiple devices and customize and share your alerts. You can also get in-app chat and sharing, so if you need help, the representative you're communicating with can access your screen. And like TD ameritrade, it promises no hidden fees, and data fees also don't apply.

Interactive brokers

Another popular broker having a global presence, interactive brokers claims to have low trading costs with high-level execution, global offerings, high-end trading technology, risk management tools, and trading tutorials.

It promises access to 23 different currencies, as well as 120 different markets in 31 different countries. You can stay connected to global markets 24 hours a day, six days a week.

Ally invest

Ally provides traders with comprehensive research and analysis, competitive pricing and robust educational resources. The trading platform includes a full suite of trading tools, 24/5 market access and a practice account for testing investing approaches.

The bottom line

Regulations are a balancing act. Too little will lead to financial irregularities and inadequate protection to individual traders; too much will lead to a lack of competitiveness in global markets. One major challenge reported with U.S. Forex regulators is that leverage provided is limited to 50:1, while global brokers, outside of U.S. Regulations purview, provide up to 1000:1 leverage. Traders and investors need to take a cautious approach, ensuring security first.

Disclaimer: information presented is as available at the time of writing this article, and may change in due course of time. The author does not hold an account with any of the mentioned brokers.

Best US forex brokers 2021

The foreign exchange market is more active than any other financial market in the world, with over $5 trillion swapping hands every day. This guide is focused on assisting US traders in finding the best forex broker for their style of trading.

We break down the best us forex brokers for commissions & spreads, trading platforms, execution, and overall quality. All of the top forex brokers we cover are regulated and licensed in the US by the national futures association (NFA) and meet a strict set of criteria, ensuring protection from forex scams.

For a more in-depth comparison of top US brokers, or if you are trading outside of the US, visit our sister site forexbrokers.Com. Our annual FX broker review covers the top brokers for 2020, with over 50,000 words of research and 5,000+ data points spanning 30 firms.

Best US forex brokers 2021

IG - best overall

TD ameritrade - currency trading with thinkorswim

Forex.Com - best for ease of use

Interactive brokers - best for professionals

As an early pioneer in offering contracts for difference (cfds) and spread betting, IG was founded in 1974 and has grown to be a global leader in the online trading industry. IG is a london-based public company listed on the london stock exchange’s FTSE 250 (LON: IGG). Read full review

Total forex pairs offered: 91

Likes: comprehensive research tools and real-time exchange data; broad range of markets, currency pairs, and multi asset cfds (including cryptocurrencies); licensed in major regulatory jurisdictions; competitive commission-based pricing and spreads on forex.

Dislikes: web platform trading windows must be resized manually to keep the layout organized; forex direct only available to professional traders within EU.

Bottom line: forex and CFD traders looking to trade a large number of instruments across multiple asset classes, including exchange-traded securities on international exchanges, will find IG offers an extensive range of tradable products on its platforms.

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TD ameritrade's desktop trading platform, thinkorswim, offers an impressive combination of both design and functionality. The platform has virtually anything you could want, including live CNBC tv, trade alerts, real-time scanning, and practically every technical indicator under the sun for charting. Read full review

Total forex pairs offered: 75

Likes: powerful desktop charting that syncs with mobile; wide array of premium research and trading tools through thinkorswim platform; futures and options trading on forex and bitcoin futures.

Dislikes: forex only available to US residents; no web-based platform offered for forex; platform complexity may deter beginners.

Bottom line: for US-based investors and traders, TD ameritrade’s thinkorswim platform is a sophisticated multi-asset desktop experience optimized for securities trading, including off-exchange spot forex and exchange-traded options and futures (including bitcoin).

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Forex.Com (gain capital) is known for providing forex traders a well-rounded offering. Like TD ameritrade and interactive brokers, it is also publicly traded and offers fx traders a large variety of trading tools. Beyond offering its own propertiary trading platform, forex.Com also offers metatrader4 (MT4) to customers, making it an ideal choice for investors of all experience levels. Read full review

Total forex pairs offered: 84

Likes: licensed in highly regulated jurisdictions; advanced charting capabilities in both desktop and web platforms; platforms feature numerous channels of research content and trading ideas; offers cryptocurrency cfds in the UK, and bitcoin futures in the US.

Dislikes: MT5 not yet rolled out; ceased business of regulated activities in hong kong.

Bottom line: FOREX.Com has plenty of options for forex and CFD traders across its regulated offerings globally. With full-feature platforms, diverse trading tools, and comprehensive research, FOREX.Com caters to traders of all experience levels.

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Professional currency traders should consider interactive brokers. Interactive brokers is well-known in the US stock and options industry as an active trading broker. IMPORTANT: to trade forex with interactive brokers in the united states, you must be classified as an ECP, "an eligible contract participant is generally an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging)." read full review

Total forex pairs offered:115

Likes: regulated in major jurisdictions and publicly traded; extensive range of global markets and asset classes; bitcoin futures trading supported; competitive fees and discounts for high-volume traders.

Dislikes: retail spot forex only offered to non-U.S. Clients; desktop platform too complex for inexperienced traders; web platform lacks forex charts; monthly minimum activity charges.

Bottom line: professional traders and highly experienced investors looking for a complete multi-asset forex broker will find interactive brokers offers a comprehensive platform with competitive fees across multiple global financial markets.

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Compare US forex brokers at forexbrokers.Com

Compare IG vs TD ameritrade vs forex.Com vs interactive brokers side by side and view an industry-leading comparison based on over 100 different data points.

Best forex brokers for 2021

Brokerage companies are scattered all over the world and have many differences in trading conditions, products and services. Some companies are regulated, others are not. Some have been around for decades, others are rather young. Certain brokers work as market makers and have fixed spreads, others provide STP or ECN accounts with direct market access and offer a much larger selection of underlying assets for trading. This site was created to help you find the best forex brokers for your specific needs and requirements. There are several sections and filters in the menu on the left. These can be used to create a custom list of entities with preferable parameters and characteristics. If you find a certain broker you are currently trading with or have used before, feel free to share your experience about it in the comments section meant for forex broker reviews.

The forex brokerage business has undergone a lot of evolution in the last decade. The global financial crisis of 2008 and the events that happened thereafter have reshaped the industry. At about the same time, new technologies came up and also contributed to the evolution of the forex market and forex brokerage business. It is important for traders to understand what forex brokerage is all about and how it will affect their trading ventures. Before we get to meet the best forex brokers for 2021, it is pertinent to identify the role that forex brokers play in a trader’s career and why it is important to go with a forex broker that can match your circumstances and aspirations.

Role of forex brokers

Forex brokers have several roles to play in the market. These roles have also evolved over time, as traders demand a lot more from their trading providers. Forex companies now perform the following roles:

A) access to the market

This is the core role of the forex broker. The forex market is a virtual market with no physical location. At the centre of forex market operations is the interbank market, where the big banks offer various currency pairs for sale. Professional and individual traders therefore do not have to proceed to a physical location to trade, but rather have to have a means of accessing the interbank market. They can only gain access to the interbank forex market using software known as platforms. These platforms are provided by the forex brokers. So without the brokers, nobody can get access to the forex interbank market to trade.

Access can be provided directly using the ECN/STP platforms (also known as direct market access platforms), or indirectly using the market maker platforms that route orders to the broker’s dealing desk. Traders should as much as possible, try to understand the implications of getting direct access to the FX market on one hand, and getting indirect access on the other. The type of access granted will determine factors such as amount of capital to start with, as well as the trading styles and processes to be adopted.

B) trader education

This is gradually but surely becoming a very important element of the forex broker’s functions. Research has shown that 90% of retail traders will lose 90% of their accounts in 90 days. This is a well-established market statistic. Majority of the losing traders (if not all) are traders who are uneducated about the market and who do not understand how to trade profitably. These will end falling by the wayside. No broker wants to spend money acquiring clients, only to have them quit the market after decimating their accounts in 90 days. With brokers realizing that such an arrangement is not good for business in the long run, many of them are now investing significantly into trader education. Videos, articles and webinars are the common means by which beginner traders are given an introduction into the forex market.

C) market research

Once traders get established on the platforms using trader educational resources, their trading activities can be sustained via the provision of market research tools, analysis and news feeds. Many brokers have incorporated this into their offerings as well. For the trader, this is a good thing.

Criteria to consider in choosing a forex broker

The criteria for choosing a forex broker have evolved over the years. While there are still some elements that are critical to the choice and which have remained constant over time, there are other parameters which have emerged and which will be considered below.

1. Spreads/commissions

Spreads are the primary cost to the trader. Lower costs mean that the trader will have a chance to retain more profits, or at least reduce the losses that may be incurred. Competitive spreads are now a factor used in broker selection. It may not be immediately obvious how much savings on spreads can translate to, but high volume traders such as scalpers know that when up to 300 trades are placed in a month, then savings from reduced spreads can be substantial.

2. Leverage

Leverage in forex is now a big deal. What started off in 2010 when leverage caps were introduced in the US by the commodities and futures trading commission (CFTC), has now been extended into the united kingdom and europe. Retail traders in the UK and EU have seen leverage caps reduced from as high as 1:500, to just 1:30 for major forex pairs. Minor pairs and cfds have even tighter leverage limits. This has increased margin requirements significantly. However, some brokers outside these jurisdictions have continued to maintain the high leverages, thus attracting traders who were caught out by ESMA’s decision. Some of the UK/EU brokers have also opened international divisions, where their international client accounts are being migrated to. So traders now have a choice of operating with the low leverage brokers, or the high leverage ones.

3. Regulation

Regulation will continue to remain a key factor in broker selection. Regulation ensures that traders are protected and that the trading environment is transparent and secure. The brokers presented on this site are regulated in their respective areas of operation, which ensures that traders who open accounts with them are assured of safety of their funds.

4. Broker type

A mention has earlier been made about direct and indirect access to the interbank market. As a trader, you need to know how each type of access will affect you. Market makers provide indirect access because they buy positions from the interbank market and resell them to their clients using a dealing desk. Market makers usually require smaller amounts of starting capital, provide fixed spreads, and tend to have more slippages and requotes. They provide a low barrier for market entry.

ECN brokers on the other hand, provide direct market access. They require large amounts as initial capital, provide variable spreads, but do not have slippages and requotes. However, they charge commissions on trades in addition to spreads. At the end of the day, the trader’s financial capacity will determine if a market maker or an ECN broker will be selected for the trading venture.

5. Trading resources

Trading resources are generally tools that are provided by a broker to enhance the trading experience and potentially improve a trader’s trading outcomes. More is not always better. In this case, it is about finding the broker that has the right mix of trading resources that cover analysis, news and market insight.

6. Customer support

Customer support can now be offered using a variety of means that were not in existence 10 years ago. Social media channels such as facebook and twitter, as well as messaging apps such as telegram can now serve as channels for receiving near-immediate responses from a broker’s customer support desk. Choose a broker with a diversified customer support structure which deploys these new means of communication.

Our list of forex brokers

The list below features best forex brokers selected by us for 2021 year. This list has been prepared after due consideration of all the factors mentioned above. In this list, you will find many brokers that are offshore brokerages with high leverage, or offshore divisions of EU/UK brokerages that can provide high leverage trading platforms to their clients. Feel free to read our forex broker reviews and make an informed choice based on the contents of this website.

Forex brokers — top forex brokers 2021

Striving to find a forex broker which is a perfect match for your trading style and goals? In the forex market the supply of brokers’ offers is versatile and abundant, so your search for the best broker to trust your dealings to may be tedious and time consuming. To help you with this important task, we created the forex brokers rating back in 2006 – and since then it has grown to include more the 200 forex brokers carefully selected from jurisdictions all over the world.

Take a researched, confident step into the markets, by getting to know all there is about trading cfds. Discover more about excentral's five asset classes by going over our free and easy ebooks and following our video tutorials. Go deeper into the trading pool, by improving your technical and fundamental analysis skills with our trading strategy tutorials. And for trading's sake, make sure to book your place for excentral's next webinar, for a shot to get to know michalis better. Or schedule your 1-on-1 with him instead.

HF affiliates is one of the leading partnership programs in the industry featuring competitive commissions, marketing tools and exceptional support. With the best commission structure and tailor-made products, we can help you achieve your expectations with high revenue share, multi-tier affiliate tracking system, no set-up fees to join and an auto-rebate system.

For over 20 years, FIBO group has been creating better working conditions for traders. These include 260 trading instruments, spreads starting at 0 pips, high execution speeds of 0.03 seconds or better, trading accounts in USD, EUR, RUB, CHF, GBP, BTC, ETH, gold, and cent accounts. Depositing and withdrawing your funds is fast and convenient. Experienced consultants are here to answer all of your questions. We have long-term statistics for testing any trading strategies. We provide all versions of the MT4 and MT5 trading platforms for the web, android, and ios.

Our unique full list of forex brokers contains over 200 brokers starting 2006. The brokers which no longer operate on the fx market are marked with the "closed" status. Two more marks are also available: "recommended forex broker" and a "newcomer". Please click on the broker"e;s logo for the detailed information, traders reviews and comments. To compare the brokers you are interested in please visit our comparison section. Forex broker rating accepts no liability for any errors in the information, trading conditions and forex reviews. For the most recent information please visit the broker's site.

Latest forex reviews

5 things that forex rating is most proud of to achieve

Your needs and preferences are the cornerstone of our rating’s structure

The forex brokers are grouped in 15 sections based on features which are often the make-or-brake point for a trader. If you are interested in trading crypto on forex, look for a suitable broker in “bitcoin brokers” and “ethereum brokers” listings (we know more are coming!). If you are a fan of MT4 but want to change a broker, check out “MT4 forex brokers” for a good range for options. Like a get an exciting bonus offer now and then? Monitor the “bonus forex brokers” – we have gathered brokers that consistently offer generous bonuses to their clients, and not only to newbie traders.

We fill in every forex broker profile with utmost thoroughness and update it regularly

You can get a 360° degree view of forex dealer’s conditions by throwing a quick look at its info page. Regulators, headquarters, trading software and more then 30 (!) parameters of a brokers’ portfolio are reflected there. The latest traders’ reviews about a particular broker are also listed there – a trustworthy source of open feedback about the broker from its happy or not so happy clients.

Forex rating goals and mission

It is common knowledge that forex market outnumbers all other markets in the world with its daily trading volume of more than 4 trillions US dollars. We see our mission in providing accurate and trustworthy information about forex brokers that will help traders make informed decisions, and thus build their trust in market and invest in its further growth. We constantly work on expanding the number of brokers listed in.

Our TOP 10 forex brokers rating is based on traders’ voting which is instantly updated

When each new review appears, the rating is automatically recalculated and updated. You receive up-to-date objective information and grounds for choosing a forex company with an optimal package of services and a better reputation. Having an independent rating is not only a convenient opportunity for a trader to compare forex market players and choose the best forex company, but also an unconditional incentive for forex companies. Only by maintaining a high level of services, expanding opportunities and improving trading conditions, a forex company will be able to confidently hold its leading positions in the rating and increase its customer base.

Our news and materials sections is much more then dealers’ news

What percentage of profitable accounts does a forex broker have? Where do industry veterans lose to new market players? What’s new in the social trading arena? When writing materials for our analytical section we try to ask questions that will enhance the understanding and trust between forex dealers and their clients. We also carefully select the analytics we publish. In forex trading, as you know, one of the leading roles is assigned to analytics, which is not surprising. It is market analysis that provides the foundation on which the entire trading process is built, including both the prediction aspect of the nature of asset price behavior and the capital management aspect. In analytics, economic news is of great importance, as they tell about events that are prerequisites and causes of changes in the economic situation, and therefore changes in the ratio of supply and demand for a particular trading instrument. That is why economic news is so closely monitored by traders. There are even trading strategies based on the news method – a method that involves tracking important economic events and, therefore, building a trading process “around” economic news. Our “latest forex materials” section is a stream of news, analytics, training announcements, and forex brokers’ latest news.

A variety of web terminals and specialized software makes a choice of a trading platform a difficult one for a novice trader. What should be this vital decision based on? To begin with, it is necessary to highlight the main criteria that high-quality software must meet for making money on financial markets.

Top 10 forex platforms 2021

Automated trading systems are an opportunity to create passive earnings in the financial markets for all users. Successful and proven strategies are integrated into the algorithm of advisers, which will make it possible to earn on the pricing of assets without delving into the subtleties of technical analysis. We present the top 10 forex advisors including equilibrium, excalibur, night owl.

Top 10 forex advisors 2021

The estimated trading volume of the foreign exchange (forex) market stands at $6.6 trillion, a figure that exceeds even the volume traded across all stock markets.

The year 2020 is gone, but the problems it has brought upon the world and all of the major forex markets will linger in 2021 as the COVID-10 pandemic is far from.

As many of you know, the foreign currency markets are open for trading 24/5, which makes it very hard for a human to keep track of everything that's going.

USDCAD stretched its march downtrend to a fresh 33-month low of 1.2588 on thursday before completing the day with a bullish doji candle. The positive candle.

USDCHF has poked back underneath the 200- and 100-period simple moving averages (smas) at 0.8866 and 0.8857 respectively. Its recent attempts to decisively.

Fxdailyreport.Com

The question of choosing the best forex broker for beginners is a matter that any trader who wants to succeed in forex trading has to consider very seriously. Unfortunately, the subject is never mentioned in most of the so-called “intensive” forex seminars that many retail traders attend before putting their money into this risky market. Retail traders cannot trade the forex market directly. They can only do this through the services provided by forex brokers, who provide the trading platforms that connect all the players of the market together.

There is a huge difference between trading forex for beginners and when more experienced traders trade forex. There are certain needs beginner traders have and these must be reflected in the choice of the best forex broker for beginners. Choosing the best forex brokers for beginners must incorporate as an integral goal, helping such beginner traders to make progress in their learning curve.

Top recommended forex brokers for beginners

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker

How to choose the best forex brokers for beginners

There are many forex brokers out there; you will get the good, the bad and the very ugly. Choosing a suitable broker is indeed a daunting task. The sweetly-worded and glamorously designed sales pages have conspired to make this so. You need to be able to sift the wheat from the chaff so your requirements are met and safety of your funds guaranteed.

What should you consider when choosing the best forex brokers for beginners?

1) regulation
regulation comes first on the list because if a broker is tightly regulated, 70% of broker-related issues suffered by traders would have been solved. The forex market in itself may be unregulated as there is no centralized exchange, but companies who do the business of forex brokerage are under regulatory supervision. In the US, this job belongs to the national futures association (NFA) and commodity futures trading commission (CFTC). Recently, the CFTC punished a forex broker and ordered them to pay $14 million in fines and compensations to clients for trading-related infractions. This is how powerful the regulation in the US can be and underscores the importance of ensuring that brokers are subject to regulation.

In the european union, brokers are subject to the mifid regulatory protocol. The financial conduct authority does the business in the united kingdom. It is very easy to verify a broker’s status from any of these agencies, especially as many brokers now operate branches from different continents. Information about a broker’s track record is also obtainable from the various online forex forums we have out there on the internet.

The best online forex brokers for beginners are those who are regulated. Regulation affords traders a high level of protection. Beginners are like babies; vulnerable and blissfully unaware of the dangers around them. They therefore need all the protection they can get and using a regulated broker affords them this protection.

2) customer service
A good forex broker should have a direct channel customer support system. In today’s financial trading world, having an instant response email, call me back and live chat feature are very basic requirements. It is simply unthinkable that a broker who makes so much money from commissions and spread charges cannot afford to put in place such instant communication systems. So the best forex trading brokers for beginners are those who provide a means of instant and fast communication.

3) transparent trading process
one practice that poses problems to all traders is lack of transparency among brokers. One of such practices is stop hunting. This is a practice of some unscrupulous market maker brokers who move prices using a dealing desk to stop out trades even when true market prices are still a few pips away. Forex capital markets (FXCM LLC) was punished some years back by the CFTC for this infraction. Beginner traders are usually unaware of such practices. Experienced traders usually know how to navigate these bumps along the way but this is not the case for beginners. Stop hunting, excessive slippages and platform freezes are things to look out for and where these occurrences are regular with a broker, you need to avoid such a broker like the plague. So trusted forex brokers for beginners are those who provide transparency in pricing and other trading operations, thus providing a level playing field.

4) trading software
top forex brokers for beginners are those who provide user-friendly trading software for their clients. A user-friendly platform makes the trading process less stressful. Many proprietary platforms make the job of trading difficult, with confusing interfaces or multi-step ordering processes.

5) education portal
the best forex brokers for beginners are those who realize that those clients of theirs who are new to the game require some help in the form of educational material so they know what they are getting into. This is why many brokers now have portions of their websites devoted to educational resources. A lot of these resources are put together by experienced traders and can provide a comprehensive learning experience for beginner traders.

6) social trading
finally, the best forex brokers for beginners are those which offer social trading platforms for their beginner traders. Social trading provides a form of mentoring for beginner traders by allowing them to copy the same trades that the experienced traders are executing on the platforms. Trading in such communities simulates the same mentoring setup which is found in institutional trading desks. So if a forex broker offers social trading, such a broker is well on its way to being described as one of the best forex brokers for beginners.

Our recommended: join etoro social trading connects over 5 million traders worldwide

You can see that there are many issues that beginner traders must consider before choosing a forex broker. The best forex brokers for beginners are those which actually contribute to the trader’s learning experience. Beginners should look out for these brokers using the parameters spelt out above.

Related articles of best forex broker for beginners

Best forex brokers for 2021

Role of forex brokers

A) access to the market

B) trader education

C) market research

Criteria to consider in choosing a forex broker

1. Spreads/commissions

2. Leverage

3. Regulation

4. Broker type

5. Trading resources

6. Customer support

Our list of forex brokers

Top U.S.-regulated forex brokers

Learn more about the basics of forex market regulation in the U.S., as well as some of the popular forex brokers in the country.

Key takeaways

The commodity futures trading commission and the national futures association are responsible for regulating the forex market in the U.S.

All U.S. Forex brokers must be registered with the NFA.

The dodd-frank act, which was signed into law in 2010, constitutes the primary body of rules governing forex trading.

Some of the most popular forex brokers include FOREX.Com, OANDA, TD ameritrade, ATC BROKERS, thinkorswim, interactive brokers, and ally invest.

U.S. Forex market regulation

There are two institutions responsible for regulating the forex market in the united states—the commodity futures trading commission (CFTC) and the national futures association (NFA).

One point to note is that the securities exchange commission (SEC) does not have authority over the forex market because it doesn't consider currency pairs a security.

Daily trading volume has reached as high as $4 trillion in the forex market.

Dodd-frank act: forex rules

U.S.-regulated forex brokers

This list of seven U.S.-regulated forex brokers—that remain after dodd-frank washout—is not in any particular order, and it is not comprehensive:

FOREX.Com

FOREX.Com trading offers integration across metatrader 4 or forextrader PRO platforms. There are three ways traders can trade—advanced trading, web trading and mobile trading applications.

High volume traders get cash rebates, earned interest, and bank fees waived.

OANDA

You can start with a free demo. The site also offers benefits for high volume traders. You can get a discounted spread, a subscription with a partner platform, free wire transfer among other perks.

TD ameritrade

The firm promises no hidden fees, access to its mobile trading app, and 24/7 support.

Verify a forex broker's status by using its NFA ID or firm name through the NFA's background affiliation status information center.

ATC BROKERS

The broker also provides access to news events and an economic calendar, along with support through email, phone, and online chat.

Thinkorswim

Thinkorswim by TD ameritrade is another popular U.S.-regulated forex broker that offers to trade in more than 100 global currency pairs.

Interactive brokers

It promises access to 23 different currencies, as well as 120 different markets in 31 different countries. You can stay connected to global markets 24 hours a day, six days a week.

Ally invest

The bottom line

Disclaimer: information presented is as available at the time of writing this article, and may change in due course of time. The author does not hold an account with any of the mentioned brokers.

Trade forex trading

Top 100 forex brokers list

Top 100 forex brokers list ranking by popularity among currency traders.

Forex broker rating according to popularity - top forex brokers.

Forex broker ranking

Out of 1000 traders how many traders know this broker

The top rated forex brokers - top 100 broker list

The top forex brokers list above shows the most popular forex brokers, top 100 forex brokers ranking based on an estimate of the number of forex traders who know a particular forex broker out of 1,000 currency traders.

The list also includes the location of where the forex brokers are based.

As a currency trader you may want to choose a forex broker which is popular among currency traders, most currency traders favor to open an account with only the top ten forex brokers that are the most popular.

The forex reviews of the currency trading brokers includes:

The execution method of the trading broker, whether the execution method of the broker is that of STP forex brokers or that of ECN forex brokers.

The forex trading platforms of the forex broker, whether the broker is a metatrader 4 forex broker or not and the list of forex brokers platforms provided by each forex forex broker.

The forex spreads of the broker and whether the spreads are those of fixed spread forex brokers or those of variable spreads forex brokers.

The forex brokers reviews also include other things such as forex brokers that allow scalping, ECN forex brokers, forex brokers bonus, metatrader forex brokers and all aspect of the factors that traders look for when doing the task of forex brokers comparison before choosing top FX broker or the best online forex broker.

Top 100 forex brokers list - top 100 brokers

The top 100 forex broker list - this list of online brokers ranks the most popular brokers according to their popularity among currency traders online.

Top 100 forex brokers in the world also lists the location of these brokers and traders looking for the ranking of the best forex brokers can find the collection of these brokers in one place - the top 100 forex brokers comparison table. The brokers location whose location is unknown are also listed.

For traders looking for top 10 forex brokers in the world, top 30 forex brokers, top 50 forex brokers or top 100 brokers then this top 100 best forex brokers ranking website will provide this information.

Top 100 brokers - forex trading reviews of the forex top 100 brokers

Top 100 regulated brokers in the world also list the regulation of the brokers listed. The regulation and licenses for each of the top 100 brokers in forex trading is listed. Because many traders will first search for the regulation of a forex broker before opening an account with them this top 100 regulated forex brokers lists the regulation of the brokers so as to provide traders with more information about the regulation of each of the broker in the 100 brokers list above.

Forex brokers top 100 list

The 100 best brokers list also includes information about the account types and trading instruments provided. Traders can use this information to determine which of the top 100 brokers in the world provides the account type and trading instruments that they are looking for.

The 100 top forex brokers ranking also includes information about the execution method provided by the online brokers so that traders using expert advisors and trading signals can know which of the top 100 forex broker in the list is most suited for their trading style. The list of the 100 best forex brokers also includes information about the brokers that allow scalping and those that do not, the list also includes information about broker promotions like forex bonuses and other promotions as well as information about the currency trading platforms provided by these brokers.

So, let's see, what we have: if you’d like to trade forex or are thinking of switching brokers, read this article for benzinga’s picks for the best forex brokers. At "best forex brokers"