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.
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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.
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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
Min Deposit
USD 100
Regulators
FCA, CFTC, ASIC
Trading Platform
MT5, Proprietary
Crypto
Yes
Total Pairs
91
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
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 Min Deposit USD 50 Regulators FCA, ASIC, FSCA, CySEC Trading Platform MT4 Crypto Yes Total Pairs 42 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
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
- 4.8/5
Min Deposit
USD 250
Regulators
FCA, CySEC
Trading Platform
MT4, OvalX TraderPro
Crypto
Yes
Total Pairs
79
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
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 Min Deposit USD 100 Regulators FCA, SCB Trading Platform MT4, MT5, cTrader, FxPro Platform Crypto Yes Total Pairs 69+ Islamic Account Yes Trading Fees Low Account Activation 24 Hours
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
Min Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI, FSCA, FRSA, ISA
Trading Platform
MT4, MT5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
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
Min Deposit
USD 10
Regulators
ASIC, FCA, CySEC, DFSA
Trading Platform
MT4, MT5, cTrader, TradingView, Pepperstone Platform
Crypto
Yes
Total Pairs
1000+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
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
Min Deposit
USD 0
Regulators
FCA, CySEC, IFSC, KNF
Trading Platform
MT4, xStation
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
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 Min Deposit USD 0 Regulators FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF Trading Platform MT4 Crypto Yes Total Pairs 80 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
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 Min Deposit USD 5 Regulators FSC Trading Platform MT4, MT5, XM App Total Pairs 55 Islamic Account Yes Trading Fees No hidden fees Account Activation 24 Hours
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
- 4.6/5
Min Deposit
USD 100
Regulators
FCA, ASIC, MAS, FSCS
Trading Platform
MT4, WebTrader
Crypto
No
Total Pairs
84
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
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 Min Deposit USD 25 Regulators ASIC, CySEC, FSA, FSC, FSCA Trading Platform MT4, MT5, Tradingview Crypto Yes Total Pairs 65 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
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 2026, 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 |
HFM
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 Min Deposit USD 50 Regulators FSCA, VFSC, ASIC, FCA Trading Platform MT4, MT5, TradingView Crypto Yes Total Pairs 49 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
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
- 4.9/5
Min Deposit
USD 25
Regulators
CySEC, MISA, FSCA, FSC
Trading Platform
MT5, OctaTrader
Crypto
Yes
Total Pairs
52
Islamic Account
Yes
Trading Fees
No
Account Activation
24 Hours
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.
Octa 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 Min Deposit USD 10 Regulators FSC, FSA, FSCA, MISA, SCA Trading Platform MT4, MT5, BDSwiss Mobile app, BDSwiss WebTrader Crypto Yes Total Pairs 50+ Islamic Account Yes Trading Fees Low Account Activation 24 Hours
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 |
JustForex
Overall Rating
- 4.4/5
Min Deposit
USD 10
Regulators
FSA, CySec, FSCA, FSC
Trading Platform
MT4, MT5, MT4/5 WebTrader, mobile (iOS & Android)
Crypto
Yes
Total Pairs
240+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overview
JustForex 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
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
FSC
Trading Platform
MT4, MT5, R.StocksTrader
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Overview
RoboForex is notable for the range of platforms it offers: MT4 and MT5 are both available on all account types and ECN account-holders also have access to cTrader, the best in class ECN platform.
Trading conditions are decent on its Cent and Standard Accounts, with minimum deposits of 10 USD and spreads starting at 1.3 pips, but ECN Accounts carry a very high commission of 15 USD.
Pros and Cons
| ✔️PROS | ❌CONS |
| Tight spreads of 0.0 pips Fast order execution Wide range of deposit currencies | No fixed spread accounts |
Features
| Feature | Information |
| Regulation | IFSC, CySEC |
| Minimum deposit from | US Dollar 10 |
| Average spread from | 0.0 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:2000 |
| Bonuses | US Dollar 30 Welcome Bonus |
| Customer Support | 24/5 |
IC Markets
Overall Rating Min Deposit USD 200 Regulators FSA Trading Platform MT4, MT5, cTrader Crypto Yes Total Pairs 65 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Overview
One of the most popular forex CFD providers, IC Markets offers trading solutions for beginners, active day traders, and scalpers.
Clients are provided with cutting-edge trading platforms, superior liquidity, and low latency connectivity by IC Markets. With this broker, you can get access to the pricing which was only available only to the high net worth individuals and investment banks before.
Pros and Cons
| ✔️PROS | ❌CONS |
| Low forex fees Easy and fast account opening Free deposit and withdrawal | No Negative Account Balance Protection A limited number of available CFDs |
Features
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | US Dollar 200 |
| Average spread from | 0.0 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/7 |
Exness
Overall Rating Min Deposit USD 10 Regulators CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Trading Platform MT4, MT5, Web Terminal, Trader App Crypto Yes Total Pairs 100+ Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Overview
Exness forex broker is a major player in the online forex industry having multiple subsidiary companies regulated by CySEC and FCA (UK). The company was founded in 2008 and has been recognized as one of the fastest-growing forex brokerages.
Exness offers 4 types of trading accounts: Cent, Mini, Classic, and ECN. There is no minimum deposit requirement for Mini accounts while Classic accounts require a minimum deposit of US Dollar 2000 whereas ECN accounts can be opened for just US Dollar 300.
Traders can choose a leverage of up to 1: Unlimited (Cent, Mini, Classic accounts) and up to 1:200 (ECN accounts).
Pros and Cons
| ✔️PROS | ❌CONS |
| Well-regulated | |
| Tight spreads | |
| Over 130 currency pairs |
Features
| Feature | Information |
| Regulation | CySEC, FCA |
| Minimum deposit from | US Dollar 1 |
| Average spread from | 1.3 pips |
| Commissions from | 3 USD and 10 USD per 1 lot for CFDs |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:2000 |
| Bonuses | Standard +10% Bonus Programme |
| Customer Support | 24/5 – multilingual |
Alpari International
Overall Rating Min Deposit USD 100 Regulators FSC Trading Platform MT4, MT5 Crypto Yes Total Pairs 48 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Overview
Alpari has grown to a leading Forex powerhouse that quickly expanded to different major financial capitals in the world, thereby helping the company to enjoy more than 18 years in the industry.
Alpari offers both versions of the MetaTrader terminal, in its MT4 and MT5 versions, thereby covering a significant part of the retail trading market.
The MT4 is the more popular version of the two, but the MT5 may offer added advantages and features that are relevant to modern traders.
Pros and Cons
| ✔️Pros Advanced copy trading software available Wide selection of tradable assets Low minimum deposit Excellent multilingual customer support | ❌Cons High trading fees Limited educational resources and research tools |
Features
| Feature | Information |
| Regulation | Financial Services Commission (FSC) |
| Minimum deposit from | US Dollar 100 |
| Average spread from | 1.2 pips on majors |
| Commissions from | charged at 4 units of the Base currency |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | Cashback Promotion |
| Customer Support | 24/5 |
Dukascopy
Overall Rating Min Deposit USD 100 Regulators JFSA, FINMA Trading Platform MT4 Crypto Yes Total Pairs 18 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Overview
Dukascopy has no restrictions on trading styles and is a no dealing desk broker, offering STP (Straight-Through-Processing) order execution. Irrespective of account size, all traders have access to the same spreads, liquidity, platform, and tools.
Pros and Cons
| ✔️PROS | ❌CONS |
| Good choice for high volume traders Comprehensive analytical tools Flexible trading on advanced platforms Good selection of currency accounts | High commission Charges withdrawal fees High minimum deposit Charges inactivity fee |
Features
| Feature | Information |
| Regulation | FINMA |
| Minimum deposit from | US Dollar 100 |
| Average spread from | 0.3 pips |
| Commissions from | US Dollar 49.5 per US Dollar 1 million traded |
| Deposit/Withdrawal Fees | Varies depending on the method |
| Maximum Leverage | 1:200 |
| Bonuses | 10% Equity Bonus |
| Customer Support | 24/5 |
FreshForex
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
Not Regulated
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation
After Registration
Overview
FreshForex is a Foreign Exchange broker based in the Republic of Ireland.
They pride themselves on a number of things including more than 139 instruments to trade, more than 15 years experience, 100% protection, guaranteed fund withdrawals, 0 point spreads, 0.05-second execution, and 0% commissions on funding.
Pros and Cons
| ✔️PROS | ❌CONS |
| High leverage Commission-free trading Advanced trading platforms | Lax regulation |
Features
| Feature | Information |
| Regulation | CRFIN |
| Minimum deposit from | None |
| Average spread from | 2 pips |
| Commissions from | No commissions |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:2000 |
| Bonuses | US Dollar 200 No Deposit Bonus |
| Customer Support | 24/5 |
Saxo Bank
Overall Rating
- 4.7/5
Min Deposit
USD 0
Regulators
MAS, FCA
Trading Platform
SaxoTraderGO, SaxoTraderPRO
Crypto
Yes
Total Pairs
190
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Overview
Established in Copenhagen in 1992, Saxo Bank serves both retail and institutional clients.
The broker offers trading in more than 30 000 instruments, including currency pairs, binary options, contracts for difference (CFDs), stocks, futures, and bonds through its in-house SaxoTrader platforms.
Apart from doing business as a brokerage firm (and a market maker), Saxo Bank is also a bank, duly licensed in Denmark and other jurisdictions.
Pros and Cons
| ✔️PROS | ❌CONS |
| Low trading fees Transparent fee structure | Relatively slow account opening Very high minimum deposit |
Features
| Feature | Information |
| Regulation | FCA, ASIC, FINMA |
| Minimum deposit from | US Dollar 10 000 |
| Average spread from | 0.3 pips |
| Commissions from | US Dollar 3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:200 |
| Bonuses | None |
| Customer Support | 24/5 |
Admiral Markets
Overall Rating
- 4.2/5
Min Deposit
USD 25
Regulators
JSC
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Overview
Admiral Markets is a reputable and regulated, UK-based, online broker with a variety of tradable instruments on offer.
The company will appeal to MetaTrader enthusiasts, who will no doubt appreciate the familiarity of the platform, and the provision of the advanced MetaTrader Supreme Edition, as well as a choice of MT4 and MT5 apps.
Pros and Cons
| ✔️PROS | ❌CONS |
| Segregated client accounts | No fixed spread accounts |
| Advanced trading tools Negative balance protection |
Features
| Feature | Information |
| Regulation | CySEC, FCA, ASIC |
| Minimum deposit from | US Dollar 50 |
| Average spread from | 0.75 pips |
| Commissions from | No commission on stocks and ETFs |
| Deposit/Withdrawal Fees | US Dollar 5 |
| Maximum Leverage | 1:30 |
| Bonuses | US Dollar 50 Welcome Offer And US Dollar 50 Per Referral |
| Customer Support | 24/5 – multilingual |
NordFX
Overall Rating
- 4.3/5
Min Deposit
USD 50
Regulators
VFSC, SEBI, FSA, FSC
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overview
NordFX is a global forex trading firm regulated in Vanuatu and Cyprus (For EU traders).
Offering a range of accounts to suit different trader needs, low minimum deposits, a demo account, and MT4 integration, the firm will appeal to many traders. The MetaTrader platforms also deliver automated trading and trading signals.
Pros and Cons
| ✔️PROS | ❌CONS |
| High maximum leverage Advanced trading platforms Low minimum deposit | Limited analytical tools No social trading capabilities |
Features
| Feature | Information |
| Regulation | VFSC, CySEC |
| Minimum deposit from | US Dollar 10 |
| Average spread from | 0.0 pips |
| Commissions from | 0.0035% |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | US Dollar 8 No Deposit Bonus |
| Customer Support | 24/5 |
CMC Markets
Overall Rating
- 4.7/5
Min Deposit
USD 0
Regulators
FCA, IIROC, ASIC, FMA, MAS
Trading Platform
MT4
Crypto
Yes
Total Pairs
158
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Overview
CMC Markets offer their services to 60,000 clients across the globe from their 15 offices. Established in 1989, they have built a solid reputation based on trust and the experience of their many traders.
Regulated by some of the world’s most recognized regulatory bodies including ASIC, (Australia), IIROC, (Canada), and the FCA (UK), they are listed on the LSE under CMCX.
Pros and Cons
| ✔️PROS | ❌CONS |
| Low forex fees | Limited product portfolio |
| Advanced trading platforms. | |
| Great research and educational tools |
Features
| Feature | Information |
| Regulation | FCA |
| Minimum deposit from | None |
| Average spread from | 0.7 pips |
| Commissions from | US Dollar 10 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | US Dollar 250 Referral Bonus |
| Customer Support | 24/5 |
Go Markets
Overall Rating Min Deposit USD 200 Regulators FSC Trading Platform MT4, MT5 Crypto Yes Total Pairs 50 Islamic Account No Trading Fees Low Account Activation 24 Hours
Overview
Established in 2006, GO Markets is an Australian broker, based in Melbourne and licensed and regulated by the Australian Securities and Investment Commission (ASIC).
They have developed over the last decade and more to provide stable trading platforms, fast trade execution, and reliable customer service.
Pros and Cons
| ✔️Pros Low trading fees Ultra-fast execution Advanced analytical tools Low minimum deposit | ❌Cons Limited account options |
Features
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | US Dollar 1 |
| Average spread from | 1.5 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | 30% Deposit Bonus |
| Customer Support | 24/5 |
FAQ’s
What does it mean to be a 5 digit Forex broker?
Many brokers today have begun offering 5 digit value quotes and these brokers are known as 5 digit forex brokers. The last digit of the decimal is equivalent to the 1/10 estimation of the pip.
Why the change to the 5 digit pricing system?
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.
Which are the best 5 digit Forex brokers?
Check our comprehensive list of the 27 best 5 digit Forex brokers directly from the Forex Suggest website.
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