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27 Best 5 digit Forex Brokers

 

Best 5 digit Forex Brokers

 

Overview

Until fairly recently, all Forex quotes were given in 4 digits, but many brokers have turned to 5 digit Forex quotes, with the last digit denoting a partial pop.

 

 

This was adopted due to the fact that a 5 digit quote is more accurate, and has more operational freedom as the prices can be broken down further.

As such, traders can choose to experiment with half-pips or any other partial amount which allows them, especially scalpers, more room to navigate their trades.

Added to this, professional high-volume traders also enjoy more favorable spreads with 5 digit quotes.

That said if a broker decides to switch to 5 digit quotes, your software may no longer be applicable.

It is important to verify this before placing additional trades. New account holders should compare different 5 Digit Forex brokers before deciding which one to choose.

 

 

To this end, we have compiled a list of the 27 best 5 digit Forex brokers in order to help you make the right choice for your trading journey going forward.

 

Here are our 10 Best 5 digit Forex Brokers

 

 

Let’s get started with the full breakdown of the 10 Best 5 digit Forex Brokers.

 

Forex.com

 

Overall Rating

4.7/5

Rated #231 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, CySec 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

For individual investors, GAIN Capital operates FOREX.com, offering advanced, yet easy-to-use trading tools along with lower account minimums and extensive educational resources.

The size and financial strength of GAIN Capital Group support the broker’s goal to provide its clients with leading-edge technology, best execution, and exemplary customer service.

 

Pros and Cons

✔️PROS ❌CONS
Low Forex fees Limited asset portfolio
The high number of currency pairs

Well-regulated

High stock CFD fees

 

Features

Feature Information
Regulation FCA, CIMA
Minimum deposit from US Dollar 50
Average spread from Variable
Commissions from Commissions on the commission account only
Deposit/Withdrawal Fees None
Maximum Leverage Variable dependent on instrument traded
Bonuses 20% Welcome Bonus
Customer Support 24/5

FXCM

 

Overall Rating

4.6/5

Rated #26 of
Recommended FX Brokers

💰Minimum Deposit

USD 300

🌐 Regulators

FCA, FSCA

📱 Trading Desk

MetaTrader 4, Trading Station

Crypto

Yes

📈 Total Pairs

7

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

FXCM is an operating subsidiary within the FXCM group of companies and is an FSCA-regulated, high-quality Forex and CFDs trading service provider.

FXCM focuses on traders who want to learn how to start trading in the financial markets. New traders can take advantage of the trading tools and forex education that FXCM offers.

At the same time, FXCM offers innovative trading tools, education, and platforms for experienced traders with the aim of offering them the ultimate trading experience.

 

Pros and Cons

✔️PROS ❌CONS
Excellent trading platforms 1. Limited product portfolio in terms of asset classes
Low minimum deposit

High maximum leverage

 

Features

Feature Information
Regulation FCA, ASIC, ACPR, FSP
Minimum deposit from US Dollar 50
Average spread from 1.3 pips
Commissions from £4 per standard round-turn lot (£2 per side)
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses US Dollar 20 Welcome Bonus
Customer Support 24/5

 

OvalX

 

Overall Rating

4.5/5

Rated #288 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CSEC

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

79

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

OvalX is a financial brokerage firm that offers access to multiple markets including Forex, Equities, Commodities, CFDs, Indices, Binary Options, and Spread Betting.

OvalX acts as a one-stop shop for all types of investors and traders who wish to take advantage of the volatility of the global financial markets by investing in a diverse range of tradable assets.

 

Pros and Cons

✔️PROS ❌CONS
Award-winning customer support

Long operational history

Powerful analytical tools

Comprehensive educational offering

High trading fees

 

Features

Feature Information
Regulation FCA
Minimum deposit from GBP 200
Average spread from 0.5 pips
Commissions from None
Deposit/Withdrawal Fees None
Maximum Leverage 1:30
Bonuses None
Customer Support 24/5

 

FxPro

 

Overall Rating

4.7/5

Rated #202 of
Recommended FX Brokers

💰Minimum Deposit
USD 100 (recommended amount USD 1000)
🌐 Regulators

FCA, CySEC, FSCA, SCB

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

70

☪️ Islamic Account

Yes

📊 Trading Fees

High

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

FxPro is a globally trusted broker serving retail and institutional clients in more than 170 countries.

It seems they have it all – solid regulation and experience on financial markets, a selection of industry awards, deep liquidity, fast execution speed, pure NDD trading environment, variety of trading accounts, platforms and assets to choose from, and much more.

 

Pros and Cons

✔️PROS ❌CONS
Wide selection of market instruments
Client funds stored in segregated accounts

Low trading fees

 

Features

Feature Information
Regulation FCA, CySEC, FSCA
Minimum deposit from US Dollar 500
Average spread from 1.7 pips
Commissions from US Dollar 45 per million USD traded.
Deposit/Withdrawal Fees 1.6% for debit and credit card
Maximum Leverage 1:500
Bonuses None
Customer Support 24/5

Avatrade

 

Overall Rating

4.8/5

Rated #1 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, FSA, CBI, BVI,FSCA,FRSA,CYCES, ISA, JFSA

📱 Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

📈 Total Pairs

55+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

AvaTrade is an award-winning, online broker with a strong global presence, based in Dublin, Ireland with satellite offices in Australia, Japan, France, Italy, South Africa, and Mongolia.

It offers a broad range of tradable instruments including commodities, cryptocurrencies, and Forex, with a CFD capability, conducting over 2 million transactions a month.

AvaTrade is a commission-free model, within its innovative trading platforms, whilst its spreads are a little higher than average, there are no hidden additional charges, and a relatively small deposit requirement for new traders with Negative balance protection.

 

Pros and Cons

✔️PROS ❌CONS
A broad range of tradable instruments High EURUSD and inactivity fees
MetaTrader 4 and 5 are available
Excellent educational resources

 

Features

Feature Information
Regulation Central Bank of Ireland, MiFID, ASiC, BVI
Minimum deposit from US Dollar 100
Average spread from 0.9 pips
Commissions from No commission on Forex
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses First Deposit Bonus
Customer Support 24/5 – multilingual

 

Pepperstone

 

Overall Rating

4.9/5

Rated #10 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

📱 Trading Desk

MetaTrader 4, MetaTrader 5 and cTrader, TradingView

Crypto

Yes

📈 Total Pairs

1000+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Founded in 2010, Pepperstone is an Australian ECN broker known for tight spreads, ultra-fast trade execution, and broad platform support.

Pepperstone’s award-winning, 24-hour support provides the foundation for its excellent customer service, where personalized assistance is available via several methods.

 

Pros and Cons

✔️PROS ❌CONS
Low forex and equity index CFDs

No deposit fee

Negative balance protection

Only forex, CFDs, and cryptos are available

 

Features

Feature Information
Regulation FCA, ASIC
Minimum deposit from AUD200
Average spread from 0.4 pips
Commissions from ‎US Dollar 3.76 commission per lot per trade
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses None

 

XTB

 

Overall Rating

4.6/5

Rated #69 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FCA, CySEC, IFSC, KNF

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

48

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XTB

 

Overview

Established in the mid-2000s, XTB is one of the more significant brokers in the world of CFD trading.

Listed on the stock exchange and licensed and regulated by the Financial Conduct Authority, they also hold licenses from some of the world’s most respected regulatory bodies. They have offices in numerous countries, including the UK, Poland, Germany, France, and Turkey.

With XTB’s trading platform, everything is designed to help you achieve your trading ambitions. They are committed to building a longer-term relationship with partners rather than just encouraging you to join the site and make a deposit.

 

Pros and Cons

✔️PROS ❌CONS
Award-winning trading platform

Negative Balance Protection

Well regulated

Limited product portfolio

 

Features

Feature Information
Regulation KNF, FCA, CySEC and IFSC
Minimum deposit from US Dollar 250
Average spread from 1.02 pips
Commissions from 0.08% of trade value with US Dollar 8 minimum
Deposit/Withdrawal Fees US Dollar 30 on withdrawals of less than US Dollar 50
Maximum Leverage 1:500
Bonuses US Dollar 40 No Deposit Bonus
Customer Support 24/5

 

IG

 

Overall Rating

4.8/5

Rated #38 of 
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF.

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

IG is one of the premier spread betting and CFD trading platforms in the world. Founded in 1974 in the UK it’s owned by the IG Group. Although not technically a bank, IG group is listed on the London stock exchange.

The platform gives traders access to over 15000 different markets making it one of the biggest players in the CFDs industry.

 

Pros and Cons

✔️PROS ❌CONS
No deposit or withdrawal fees

Low index CFD trading fees

Inactivity fee charges

High stock CFD fees

 

Features

Feature Information
Regulation FCA, FSCA
Minimum deposit from No minimum deposit
Average spread from Variable
Commissions from £3.00 – £8.00 per trade for all types of assets
Deposit/Withdrawal Fees None
Maximum Leverage 1:200
Bonuses None offered
Customer Support 24/6

 

XM Group

 

Overall Rating

4.5/5

Rated #68 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

IFSC, CySec, ASIC

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

55

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XM

 

Overview

XM.com is the next-generation financial service provider of online trading, offering a wide range of features for trading Forex and CFDs (precious metals, equities, indices, energies).

What makes XM Group one of the best brokerages out there are the advanced platforms for trading mobility and flexible trading conditions for over 100 financial instruments.

 

Pros and Cons

✔️PROS ❌CONS
Low CFD and withdrawal fees Average forex fees
Great educational tools Inactivity fees

 

Features

Feature Information
Regulation IFSC, ASIC, CySEC, FCA and DFSA
Minimum deposit from US Dollar 5
Average spread from 0.1 pips
Commissions from US Dollar 3.5 commission per US Dollar 100 000 traded
Deposit/Withdrawal Fees None
Maximum Leverage 1:30
Bonuses US Dollar 30 Trading Bonus
Customer Support 24/5

 

City Index

 

Overall Rating

4.7/5

Rated #226 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, ASIC, MAS

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

City Index is a spread betting and CFD trading broker headquartered in London.

It was founded in 1983 and is a top-tier multi-asset broker that has an industry-leading global trading platform with thousands of markets on offer across all asset groups including bonds, equities, crypto, indices, forex, commodities, metals, and options.

 

Pros and Cons

✔️PROS ❌CONS
Low trading fees

No fees for deposit and withdrawal

Comprehensive research tools

Limited product portfolio

 

Features

Feature Information
Regulation FCA, ASIC
Minimum deposit from US Dollar 100
Average spread from 1.5 pips
Commissions from ‎US Dollar 3
Deposit/Withdrawal Fees None
Maximum Leverage 1:200
Bonuses Deposit Bonus
Customer Support 24/6

 

EasyMarkets

 

Overall Rating

4.9/5

Rated #18 of
Recommended FX Brokers

💰Minimum Deposit

$100

🌐 Regulators

CySEC, ASIC, BVI, FSA

📱 Trading Desk

MetaTrader 4, TradingView

Crypto

Yes

📈 Total Pairs

275+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Founded in 2001, easyMarkets (then easyForex) was one of the first online brokers.

Regulated by ASIC since 2003, CySEC since 2007, and the FSA since 2022, easyMarkets states their values as simple, honest, and transparent which are reflected in their industry recognition.

As such, the broker was recently awarded the Best Trading Platform and Most Transparent Broker awards in 2017 from FX Empire and Forex-Awards, respectively.

 

Pros and Cons

✔️Pros

Highly simulated demo environment

Responsive and professional customer support

❌Cons

The Proprietary Deal Cancellation feature is not available on the MetaTrader 4 platform

 

Features

Feature Information
Regulation CySEC
Minimum deposit from US Dollar 100
Average spread from 0.9 pips
Commissions from None
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses US Dollar 25 Sign Up Bonus
Customer Support 24/5

 

HotForex

 

Overall Rating

4.8/5

Rated #6 out of 66
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FCA, FSA, DFSA, FSCA, CMA

📱 Trading Desk

MT4, MT5

Crypto

No

📈 Total Pairs

50+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Founded in 2010, Hot Forex is a multi-asset broker that focuses on the CFD market.

Through its state-of-the-art trading platform, it has provided trading services to a staggering total of 2,000,000 live accounts since first being founded, making it one of the largest CFD brokers currently operating.

It currently employs over 200 employees spread across a rapidly expanding global network of offices.

 

Pros and Cons

✔️PROS ❌CONS
Well-regulated Offshore broker
Numerous industry awards
Low minimum deposit

 

Features

Feature Information
Regulation CySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from US Dollar 5
Average spread from 0.0 pips
Commissions from USD 0.03 per 1K lot.
Deposit/Withdrawal Fees None
Maximum Leverage 1:30 in EEA
Bonuses 100% Supercharged Bonus
Customer Support 24/5

 

Vantage FX

 

Overall Rating

4.7/5

Rated #66 of
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

VFSC 

📱 Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Vantage FX is a leader among Australian Forex brokers and gives traders the ability to access the Forex markets, Cryptocurrencies, Indices, Commodities, and Shares CFDs.

The company has received consistent recognition as a secure, safe forex broker that provides highly transparent access to the markets.

Vantage FX was founded back in 2009 with the founders consisting of a highly specialized team with experience in technology, forex, and finance.

 

Pros and Cons

✔️PROS ❌CONS
Well regulated

Advanced trading platforms

Has indemnity insurance

Limited range of tradable instruments

 

Features

Feature Information
Regulation ASIC
Minimum deposit from US Dollar 200
Average spread from 1.35 pips
Commissions from ‎US Dollar 3 added per side
Deposit/Withdrawal Fees 20 units of trading account base currency
Maximum Leverage 1:500
Bonuses 50% Welcome Bonus
Customer Support 24/5

 

OctaFX

 

Overall Rating

4.8/5

Rated #8 of
Recommended FX Brokers

💰Minimum Deposit

$5

🌐 Regulators

SVGFSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Very Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Official Website

 

Overview

OctaFX is an online financial service provider that was created in 2011, with a head office in St. Vincent and the Grenadines. They are also approved and regulated by CySEC, and can fully provide services to clients from the European Union.

OctaFX offers FX spot trading, along with CFDs trading on Cryptocurrencies, Indices, Metals, and Commodities.

 

Pros and Cons

✔️PROS ❌CONS
Ultra-fast execution No VPS available
More than 30 forex pairs are available

Well-regulated

No Forex educational tools

 

Features

Feature Information
Regulation CySEC
Minimum deposit from US Dollar 100
Average spread from 0.7 pips
Commissions from  None
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses 50% Deposit Bonus
Customer Support 24/5

 

BDSwiss

 

Overall Rating

4.7/5

Rated #5 of
Recommended FX Brokers

💰Minimum Deposit

$100

💰Sign-up

50% of Initial Deposit

🌐 Regulators

FSC, FSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

83

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Licensed and regulated by CySEC and established in 2012, BDSwiss originally began as a binary options broker.

In recent years, they have diversified into Forex and CFD trading and, as a popular choice among traders, have continued to grow their popularity as a safe and reliable platform.

There are several reasons that BDSwiss continues to be popular with their traders with numbers now exceeding 700,000.

One of these is the technically advanced, MT4 trading platform. In addition to this, they offer excellent customer support, various trading features like a free demo account, and good spreads and payouts.

 

Pros and Cons

✔️PROS ❌CONS
MetaTrader 4 and 5 are available Relatively high minimum deposit
Multiple regulations

 

Features

Feature Information
Regulation CySEC, FSC, NFA
Minimum deposit from US Dollar 200
Average spread from 1.3 pips
Commissions from  0.1% for stock and CFDs
Deposit/Withdrawal Fees 10 EUR from 20 EUR upwards
Maximum Leverage 1:500
Bonus None
Customer Support 24/5

 

JustMarkets

 

Overall Rating

4.4/5

Rated #72 of
Recommended FX Brokers

💰Minimum Deposit

USD 1

🌐 Regulators

FSA, CySec

📱 Trading Desk

MT4, MT5, MT4/5 WebTrader, mobile (iOS & Android)

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

JustMarkets is a brand of IPCTrade Inc., the activity of which is providing online trading services on the Forex market and an opportunity for traders with different trading experiences to earn income by trading financial instruments.

 

Pros and Cons

✔️PROS ❌CONS
Wide range of deposit and withdrawal methods

Low minimum deposit

Excellent customer support

Lax regulation

No MetaTrader MAC version

 

Features

Feature Information
Regulation FSA
Minimum deposit from US Dollar 1
Average spread from 0.1 pips
Commissions from No commissions
Deposit/Withdrawal Fees None
Maximum Leverage 1:3000
Bonuses 115% Deposit Bonus
Customer Support 24/7

 

RoboForex