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10 Best Forex Brokers accepting Cheques

10 Best Forex Brokers Accepting Cheques

 

The 10 Best Forex Brokers Accepting Cheques – Rated and Reviewed. We have listed the best Brokers accepting cheques in 2025*.

 

In this in-depth write-up you will learn:

 

  • A List of the 10 Best Forex Brokers Accepting Cheques
  • Pros and Cons of Forex Trading
  • What is Forex Trading?

 

and much, much more!

 

🔍Forex Broker🎁Sign Up Here💵Minimum Deposit⬆️Leverage
🥇FOREX.com👉 Click Here$100 USD1:200
🥈IC Markets👉 Click Here$50 USD1:500
🥉FXCM👉 Click Here$50 USD1:1000
🏅FP Markets👉 Click Here$50 USD1:500
🏆FXTM👉 Click Here$200 USD1:3000
🥇eToro👉 Click Here$50 USD1:400
🥈EasyMarkets👉 Click Here$25 USD1:200
🥉FBS👉 Click Here$5 USD1:3000
🏅IG👉 Click Here$0 USD1:200
🏆HYCM👉 Click Here$100 USD1:100

 

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

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

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.6/5

FSC, CMA

MT4, MT5, FXTM Trader

USD 200

2000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

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

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.7/5

ASIC, FCA, CySEC, SCB

MT4, MT5, TradingView

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 200

2000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

9

USD 200

1:500

10

USD 100

500:1

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

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

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.9/5

FSCA, FSC, ASIC, CySEC, DFSA

MT4, MT5

USD 5

1000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

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

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.9/5

ASIC, CySEC

MT4

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 5

1000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

10

USD 100

500:1

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

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

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.9/5

FSCA, FSC, ASIC, CySEC, DFSA

MT4, MT5

USD 5

1000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

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

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.7/5

ASIC, FCA, CySEC, SCB

MT4, MT5, TradingView

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 5

1000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

9

USD 200

1:500

10

USD 100

500:1

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

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

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.9/5

FSCA, FSC, ASIC, CySEC, DFSA

MT4, MT5

USD 5

1000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

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

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.7/5

ASIC, FCA, CySEC, SCB

MT4, MT5, TradingView

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 5

1000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

9

USD 200

1:500

10

USD 100

500:1

🏆 10 Best Rated Forex Brokers

Broker

Rating

Regulators

Platforms

Min Deposit

Max Leverage

Crypto

Official Site

🥇

4.7/5

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

MT4, MT5, Avatrade Social

USD 100

400:1

Yes

🥈

4.5/5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

MT4, MT5

USD 10

2000:1

Yes

🥉

4.8/5

FSA, CySEC, FSCA, FSC

MT4, MT5

USD 1

3000:1

Yes

4

4.9/5

FSCA, FSC, ASIC, CySEC, DFSA

MT4, MT5

USD 5

1000:1

Yes

5

4.9/5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

MT4, MT5, HFM App, HFM Copy Trading

USD 0

2000:1

Yes

6

4.6/5

CySEC, MISA, FSCA

MT4, MT5, OctaTrader

USD 25

1:1000

Yes

7

4.9/5

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

MT4, MT5, cTrader, Tradingview, Pepperstone Platform

USD 10

400:1

Yes

8

4.5/5

ASIC, CySEC, FSA, SCB

MT4, MT5, WebTrader

USD 200

1:1000

Yes

9

4.9/5

ASIC, CySEC

MT4

USD 100

1:500

Yes

10

4.9/5

ASIC, CySEC, FSCA, FSA

MT4, MT5

USD 100

500:1

Yes

🏆 10 Best Rated Forex Brokers

Broker

Min Deposit

Max Leverage

Official Site

🥇

USD 100

400:1

🥈

USD 10

2000:1

🥉

USD 1

3000:1

4

USD 5

1000:1

5

USD 0

2000:1

6

USD 25

1000:1

7

USD 10

400:1

8

USD 200

1:1000

9

USD 100

1:500

10

USD 100

500:1

10 Best Forex Brokers Accepting Cheques (2025)

 

  1. ☑️FOREX.com – Overall, The Best Forex Broker that Accepts Cheques
  2. ☑️IC Markets – Best MT5 Forex Broker
  3. ☑️FXCM – Best Trading Platform
  4. ☑️FP Markets – Best Forex Partners Program
  5. ☑️FXTM – Exceptional Customer Service
  6. ☑️eToro – Best Loyalty Program
  7. ☑️EasyMarkets – Best Regulated Forex Broker
  8. ☑️FBS –  Best Mobile Trading App
  9. ☑️IG – Best Low-Cost Forex Broker
  10. ☑️HYCM – Best Multi-Regulated Forex and CFD Provider

 

 

Forex.com Review

 

1. Forex.com

Forex.com is a global forex and CFD broker known for its robust trading platforms, competitive spreads, and extensive range of currency pairs and CFDs. Founded in 2001, Forex.com is owned by StoneX Group Inc., a publicly traded company on the NASDAQ. It is regulated in multiple regions, including the US, UK, Canada, and Japan, providing strong regulatory security.

Forex.com caters to both new and experienced traders with features such as advanced charting tools, technical indicators, and fast execution speeds.

 

🔍Broker🥇Forex.com
🔢Year Founded2001
👥Amount of StaffApproximately
400
👤Amount of Active TradersOver 100,000
📌Publicly Traded ✅Yes (part
of GAIN
Capital
Holdings,
listed on
NYSE)
📉RegulationFCA, CFTC, ASIC
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes
💙Investor Protection Schemes✅Yes (NFA
and FCA
protections)
➡️Institutional Accounts✅Yes
🫴🏻Managed AccountsNone
💴Minor Account Currencies✅Yes
💵Minimum Deposit$100
⏰Average Deposit/Withdrawal Processing Time1-3 business days
💳Fund Withdrawal FeeNone (may
vary by
method)
✏️Spreads From0.8 pips
💷CommissionsNone on
standard
accounts
(commission
applies for
certain
accounts)
6️⃣Number of Base Currencies Supported6 (USD,
EUR, GBP,
CAD, AUD,
JPY)
💸Swap Fees✅Yes (varies
by
instrument)
⬆️LeverageUp to 1:200
📈Margin RequirementsVaries by
asset type
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution Time< 1 second
(market
orders)
🖥️VPS Hosting✅Yes (available
at an
additional cost)
🫴🏻CFDs - Total OfferedOver 2,000
📈CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💶Deposit OptionsBank transfer,
credit/debit cards,
e-wallets
(PayPal,
Skrill)
💳Withdrawal OptionsBank transfer,
credit/debit cards,
e-wallets
📊Trading PlatformsForex.com
Trading Platform,
MetaTrader 4
🍎OS CompatibilityWindows
Mac,
iOS,
Android
🪛Forex Trading ToolsCharting tools,
trading alerts,
research tools
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addressglobal.support@forex.com
☎️Customer Support Contact Number+1 (877) 999-2450
📱Social Media PlatformsFacebook,
Twitter,
LinkedIn
⚙️Languages Supported on Forex.com WebsiteEnglish,
Spanish,
Chinese,
Japanese,
French,
German
🎓Education and Research✅Yes
✏️Forex Course✅Yes (various
resources
available)
🖥️Webinars✅Yes
📖Educational ResourcesArticles,
video tutorials,
trading guides
🤝Affiliate Program✅Yes
👥Amount of PartnersNot publicly
disclosed
🫰🏻IB Program✅Yes
🎁Sponsorships✅Yes (various
trading and
financial
events)
🎀Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes (micro
accounts
available)
🚀Open an Account👉 Click Here

 

Overall Rating

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

 

Pros and Cons

✅Pros❌ Cons
Segregates client fundsDoesn’t offer VPS
Established in 1999Not ASIC Regulated

 

Frequently Asked Questions

 

Are there any inactivity fees on Forex.com?

Yes, Forex.com charges a small inactivity fee if the account remains dormant for 12 months or more.

 

Does Forex.com provide negative balance protection?

Yes, Forex.com provides negative balance protection for its retail clients in the EU and UK, ensuring clients do not lose more than their account balance.

 

Are there any fees for withdrawals?

Forex.com typically does not charge fees on most withdrawals, but fees may apply depending on the payment method and withdrawal amount.

 

Does Forex.com offer a demo account?

Yes, Forex.com provides a free demo account for traders to practice strategies and explore the platform’s features without risking real money.

 

Overall Rating

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

 

Our Verdict

Forex.com is a well-established and highly regulated forex and CFD broker that appeals to a wide range of traders, from beginners to experienced professionals. It offers a variety of account types, competitive spreads, multiple trading platforms (including MT4 and MT5), and an extensive range of tradable instruments. Forex.com’s commitment to education and its supportive resources make it a solid choice for those learning to trade, while the DMA account provides advanced professional options.

 

IC Markets Review

 

2. IC Markets

IC Markets is a regulated Forex ECN and CFD broker that offers more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks, and Futures on the MetaTrader 4, MetaTrader 5, and cTrader platforms for desktop, web, and mobile.  IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).

 

🔍Broker🥇IC Markets
🔢Year Founded2007
👤Amount of StaffOver 200
👥Amount of Active TradersOver 200,000
📌Publicly Traded None
📈RegulationASIC
CySEC
FSA
SCB
🌎Country of RegulationAustralia
Cyprus
Seychelles
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes (varies by regulation)
💙Investor Protection Schemes✅Yes (under CySEC regulation)
➡️Institutional Accounts✅Yes
🫴🏻Managed AccountsNone
💴Minor Account CurrenciesAUD
USD
EUR
GBP
SGD
JPY
CHF
NZD
HKD
CAD
💵Minimum Deposit$200
⏰Average Deposit/Withdrawal Processing Time1-2 business days
💳Fund Withdrawal FeeNone
✏️Spreads from0.0 pips
(Raw Spread
Account)
💶Commissions$3.5 per side
per lot (Raw
Spread
Account)
🔟Number of Base Currencies Supported10
💷Swap Fees✅Yes
⬆️LeverageUp to 1:500
📉Margin RequirementsDepends on
leverage
and
instrument
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏰Order Execution Time40 milliseconds
🖥️VPS Hosting✅Yes
(free under
certain
trading
conditions)
📈CFDs-Total OfferedOver 2,000
↪️CFD Stock Indices✅Yes
👉CFD Commodities✅Yes
📊CFD Shares✅Yes
💴Deposit OptionsBank Transfer
Credit/Debit Cards
PayPal
Skrill
Neteller
UnionPay, etc.
💳Withdrawal OptionsBank Transfer
Credit/Debit Cards
PayPal
Skrill
Neteller
UnionPay, etc.
📊Trading PlatformsMetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
🍎OS CompatibilityWindows
Mac
iOS
Android
✏️Forex Trading ToolsMarket analysis
Economic calendar
VPS
Autochartist
Myfxbook
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addresssupport@icmarkets.com
☎️Customer Support Contact Number+61 (0)2 8014 4280
📱Social Media PlatformsFacebook
Twitter
LinkedIn
Instagram
YouTube
⚙️Languages Supported on WebsiteEnglish
Chinese
Spanish
French
German, and more
🎓Education and Research✅Yes
✏️Forex Course✅Yes
🖥️Webinars✅Yes
📖Educational ResourcesArticles
video tutorials
eBooks
webinars
FAQs
🤝Affiliate Program✅Yes
👤Amount of PartnersNot specified
🫰🏻IB Program✅Yes
🎁SponsorshipsNo known
sponsorships
🎀Rebate Program✅Yes
💰Cent or Micro AccountsNone
🚀Open an Account👉 Click Here

 

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

 

Pros and Cons

✅Pros❌Cons
Segregates client fundsLimited range of instruments
Established in 2007Not FCA Regulated

 

Frequently Asked Questions

 

Does IC Markets offer a demo account?

Yes, IC Markets provides a free demo account for traders to practice and develop their strategies in a risk-free environment.

 

What types of accounts does IC Markets offer?

IC Markets offers three main account types: Standard, Raw Spread, and Islamic accounts (swap-free) for clients who require a no-interest option.

 

What is the leverage available in IC Markets?

Leverage can vary by region and regulation, but IC Markets generally offers up to 1:500 leverage for certain trading accounts and regions.

 

How fast is order execution with IC Markets?

IC Markets is known for its fast order execution, which is beneficial for scalpers and high-frequency traders, averaging around 40 milliseconds on some accounts.

 

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

 

Our Verdict

IC Markets is a well-regarded forex broker known for its competitive trading conditions, reliable platform offerings, and strong regulatory oversight. With options like Raw Spread and Standard accounts, traders can choose between low-commission and commission-free trading depending on their strategies. Though IC Markets does not accept clients from the United States, it remains a popular choice internationally due to its focus on competitive spreads, fast execution speeds, and transparent operations, making it an attractive broker for both new and experienced traders.

 

FXCM Review

 

3. FXCM

Forex Capital Markets Limited or FXCM is a Spread Betting, CFD, and Forex trading broker, authorized and regulated by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web, and Mobile, as well as on MetaTrader 4, NinaTrader and ZuluTrade.

 

🔍Broke🥇FXCM
🔢Year Founded1999
👤Amount of StaffOver 600
👥Amount of Active TradersOver 130,000
worldwide
📌Publicly Traded None
📉RegulationFCA,
ASIC,
FSCA,
CySEC
🌎Country of RegulationUnited Kingdom,
Australia,
South Africa,
among
others
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes (only for
retail clients
under FCA
and ASIC
regulation)
💙Investor Protection SchemesFSCS (UK)
➡️Institutional Accounts✅Yes
🫴🏻Managed Accounts✅Yes (through
FXCM Prime)
💴Minor Account CurrenciesEUR,
GBP,
AUD,
JPY,
CAD,
CHF
💵Minimum Deposit$50 for
most account
types
⏰Average Deposit/Withdrawal Time1-3 business days
💳Fund Withdrawal FeeVaries by method
✏️Spreads From1.3 pips (EUR/USD)
💷Commissions✅Yes,
depending on
the account
type
5️⃣Number of Base Currencies Supported5
💸Swap Fees✅Yes
⬆️LeverageUp to 1:400
(depending on
the region)
📈Margin RequirementsVaries by asset
class and
region
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution TimeLess than 1 second
🖥️VPS Hosting✅Yes, for
eligible clients
👉CFDs - Total OfferedOver 300
📈CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💶Deposit OptionsCredit/Debit cards,
Bank Transfer,
Skrill,
Neteller,
UnionPay, etc.
💳Withdrawal OptionsBank Transfer,
Credit/Debit cards,
Skrill,
Neteller, etc.
📊Trading PlatformsTrading Station,
MetaTrader 4 (MT4),
NinjaTrader,
ZuluTrade
🍎OS CompatibilityWindows,
Mac,
iOS,
Android
🪛Forex Trading ToolsTrading signals,
market analysis,
research tools,
automated
trading options
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addressinfo@fxcm.com
☎️Customer Support Contact NumberVaries by region
📱Social Media PlatformsFacebook,
Twitter,
LinkedIn,
YouTube
⚙️Languages Supported on WebsiteEnglish,
French,
German,
Italian,
Chinese,
Japanese,
Arabic,
Spanish,
and more
🎓Education ans Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
📖Educational ResourcesArticles,
videos,
tutorials,
webinars,
trading guides
🤝Affiliate Program✅Yes
👥Amount of PartnersNot specified
🫰🏻IB Program✅Yes
🎁SponsorshipsNo notable
sponsorships
currently
🎀Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
🚀Open an Account👉 Click Here

 

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

 

Pros and Cons

✅Pros❌Cons
Segregates client fundsLimited range of
instruments

 

Frequently Asked Questions

 

Does FXCM offer any bonuses or promotions?

FXCM occasionally provides promotions or bonuses, which vary by region due to regulatory restrictions.

 

Is FXCM suitable for beginners?

Yes, FXCM offers a user-friendly platform and educational resources, making it accessible for beginners. The demo account is also ideal for new traders to practice before investing real money.

 

Does FXCM charge for inactivity?

Yes, FXCM charges an inactivity fee for accounts inactive for a set period, typically $50 after 12 months of inactivity.

 

Does FXCM support algorithmic trading?

Yes, FXCM supports algorithmic trading through MetaTrader 4, NinjaTrader, and its API Trading solutions.

 

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

 

Our Verdict

With a low minimum deposit, varied asset offerings (including forex, CFDs, and cryptocurrencies), and educational resources, FXCM caters to both beginners and experienced traders. Its global reach is supported by multiple regulatory licenses, and it offers competitive spreads and flexible leverage options.

 

fpmarkets Review

 

4. FP Markets

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offers Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

 

🔍Broker🥇FP Markets
🔢Year Founded2005
👥Amount of StaffOver 200
👤Amount of Active Traders60,000+
📍Publicly Traded None
📈RegulationASIC (Australia)
CySEC (Cyprus)
FSCA (South Africa)
🌎Country of RegulationAustralia
Cyprus
South Africa
🗂️Account Segregation✅Yes
📌Negative Balance Protection✅Yes
🚩Investor Protection Schemes✅Yes (CySEC)
🖋️Account Types and FeaturesStandard
Raw ECN
VIP accounts
available
🎉Institutional Accounts✅Yes
👤Managed AccountsNone
💵Minor Account CurrenciesEUR
USD
GBP
AUD
CAD
CHF
JPY
NZD
SGD
HKD
💴Minimum Deposit$100
⏱️Average Deposit/Withdrawal Processing TimeInstant - 1 business day
💸Fund Withdrawal FeeNone
✏️Spreads 0.0 pips
💷CommissionsFrom $3
per side
(Raw account)
🔢Number of Base Currencies Supported10
💶Swap Fees✅Yes
⬆️LeverageUp to 1:500
📉Margin RequirementsVaries by
instrument
and account
type
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏰Order Execution Time< 40ms
➡️VPS Hosting✅Yes
(for eligible
accounts)
🫴🏻CFDs - Total Offered10,000+
📊CFD Stock Indices23+
💡CFD Commodities12+
👉CFD Shares2,000+
💳Deposit OptionsBank transfer
Credit/Debit card
PayPal
Neteller
Skrill
Fasapay
and more
💳Withdrawal OptionsBank transfer
Credit/Debit card
PayPal
Neteller
Skrill
Fasapay
and more
🛎️Trading PlatformsMetaTrader 4
MetaTrader 5
IRESS,WebTrader
Mobile Apps
💻OS CompatibilityWindows
macOS
iOS
Android
🔩Forex Trading ToolsAutochartist
VPS
Trading Central
Myfxbook
🤝Customer Support✅Yes
🗣️Live Chat Availability✅Yes
🖥️Customer Support Email Addresssupport@fpmarkets.com
☎️Customer Support Contact Number+61 2 8252 6800
📱Social Media PlatformsFacebook
Twitter
LinkedIn
Instagram
YouTube
⚙️Languages Supported on Website10+ including
English
Spanish
Chinese
Arabic
📖Education and Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
🎓Educational Resources✅Yes
(articles,
videos, eBooks,
market
analysis)
🤝Affiliate Program✅Yes
👥Amount of PartnersThousands worldwide
👍IB Program✅Yes
🎁Sponsorships✅Yes,
involved in
sports
sponsorships
💴Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
(Micro Accounts)
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

AUD 100 

Regulators

ASIC, CySEC, FSCA, FSA, FSC, CMA

Trading Platform

MT4, MT5, Iress, WebTrader, cTrader, TradingView, Mobile App

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅Pros❌Cons
Low Forex FeesHigh Stock CFD fees
Easy Account OpeningLimited Product Portfolio
Quick Deposit and WithdrawalOutdated Platform

 

Frequently Asked Questions

 

Is FP Markets a regulated broker?

Yes, FP Markets is regulated by ASIC in Australia and CySEC in Cyprus, ensuring a reliable trading environment for users.

 

Does FP Markets offer a demo account?

Yes, FP Markets provides a free demo account for traders to practice and familiarize themselves with the platform.

 

What types of accounts does FP Markets offer?

FP Markets offers Standard and Raw accounts on both MT4 and MT5, as well as an IRESS account for stock trading.

 

What platforms does FP Markets support?
FP Markets supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and IRESS platforms.

 

Overall Rating

Min Deposit

AUD 100 

Regulators

ASIC, CySEC, FSCA, FSA, FSC, CMA

Trading Platform

MT4, MT5, Iress, WebTrader, cTrader, TradingView, Mobile App

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

FP Markets is a well-regarded, regulated broker known for its extensive range of trading instruments and platforms, including MetaTrader 4, MetaTrader 5, and IRESS for stock trading. With competitive spreads, especially in Raw accounts, and high-leverage options for international clients, FP Markets appeals to both beginner and experienced traders.

 

FXTM Review

 

5. FXTM

FXTM or ForexTime was founded in 2011 and is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different account types where the execution method, range of markets, available platform, and commissions and fees may vary.  Three accounts are offered under the Standard category.  Forex Time (FXTM) is a MetaTrader broker that offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

 

🔍Broker🥇FXTM
🔢Year Founded2011
👤Amount of StaffOver 800
👥Amount of Active TradersOver 4 million
📌Publicly Traded None
📈RegulationFCA
CySEC
FSC
🌎Country of RegulationUK
Cyprus
South Africa
Mauritius
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes
💙Investor Protection Schemes✅Yes
(varies by
regulatory
entity)
➡️Institutional Accounts✅Yes
🫴🏻Managed AccountsNone
💴Minor Account CurrenciesUSD
EUR
GBP
NGN
💵Minimum Deposit$10 for Cent Accounts
⏰Average Deposit/Withdrawal Processing TimeInstant - 24 hours
💳Fund Withdrawal FeeNone
(but third-party
fees may
apply)
✏️Spreads from0.0 pips
💶Commissions$0 - $4 per lot
depending on
account type
4️⃣Number of Base Currencies Supported4
💷Swap Fees✅Yes
⬆️LeverageUp to 1:2000
📉Margin RequirementsBased on leverage
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏰Order Execution Time0.05 seconds (Average)
🖥️VPS Hosting✅Yes
(Free with
conditions)
📈CFDs-Total OfferedOver 250
👉CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💴Deposit OptionsBank transfer
Credit/debit cards
e-wallets
(Skrill
Neteller, etc.)
💳Withdrawal OptionsBank transfer
Credit/debit cards
e-wallets
(Skrill
Neteller, etc.)
📊Trading PlatformsMetaTrader 4
MetaTrader 5
FXTM Trader App
🍎OS CompatibilityWindows
macOS
iOS
Android
🔩Forex Trading ToolsForex calculators
VPS
Trading signals
Market analysis tools
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addresssupport@fxtm.com
☎️Customer Support Contact Number+44 203 734 1098
📱Social Media PlatformsFacebook
Twitter
Instagram
LinkedIn
YouTube
⚙️Languages Supported on Website16+
🎓Education and Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
📖Educational ResourcesArticles
tutorials
eBooks
Video tutorials
🤝Affiliate Program✅Yes
👤Amount of PartnersOver 1,000
🫰🏻IB Program✅Yes
🎁SponsorshipsNo notable
current
sponsorships
🎀Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
(Cent Account)
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 200

Regulators

FSC, CMA, CMA, SCA

Trading Platform

MT4, MT5, FXTM App

Crypto

Yes

Total Pairs

63+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅Pros❌Cons
Segregates client fundsLimited range of instruments
Established in 2011Not ASIC Regulated

 

Frequently Asked Questions

 

Does FXTM have a loyalty program?

FXTM has offered loyalty programs and promotions in the past; it is recommended to check their current offers directly on their website.

 

Is there customer support available on FXTM?

FXTM provides customer support through live chat, email, and phone, available in multiple languages.

 

What leverage does FXTM offer?

Leverage varies by regulatory jurisdiction, account type, and instrument but can go as high as 1:2000 in some cases.

 

Does FXTM offer an Islamic account?

Yes, FXTM offers Islamic (swap-free) accounts for traders who comply with Sharia law.

 

Overall Rating

Min Deposit

USD 200

Regulators

FSC, CMA, CMA, SCA

Trading Platform

MT4, MT5, FXTM App

Crypto

Yes

Total Pairs

63+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

While FXTM offers low minimum deposit options and various withdrawal methods, potential users should be aware of its limitations, such as not accepting clients from the U.S. Overall, FXTM stands out as a solid choice for traders seeking flexibility and a comprehensive trading experience in the forex market.

 

eToro Review

 

6. eToro

eToro is an online broker that was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK.  eToro is supervised by the Financial Conduct Authority (FCA), and Cyprus Securities and Exchange Commission (CySEC) regulatory bodies, and has been in operation for over 14 years.

 

🔍Broker🥇eToro
🔢Year Founded2007
👤Amount of Staff1,000+
👥Amount of Active Traders30+ million
📌Publicly Traded None
📉RegulationCySec (Cyprus)
FCA (UK).
🌎Country of RegulationUK
Cyprus
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes
💙Investor Protection Schemes✅Yes
(for European
clients under
CySEC
regulation)
➡️Institutional AccountsNone
🫴🏻Managed AccountsNone
💴Minor Account CurrenciesUSD
EUR
GBP
AUD
💵Minimum Deposit$10
(varies by
region and
payment
method)
⏰Average Deposit/Withdrawal Processing TimeInstant for
deposits;
1-8 business
days for
withdrawals
💳Fund Withdrawal Fee$5
✏️Spreads from1 pip
💶CommissionsZero commission
for stocks,
spreads on
CFDs
9️⃣Number of Base Currencies Supported9
USD
EUR
GBP
AUD
CAD
JPY
CHF
NZD
and more
💷Swap Fees✅Yes
(overnight fees)
⬆️LeverageUp to 1:30
(varies by
instrument
and region)
📉Margin RequirementsDepends on asset class
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution TimeMarket execution
🖥️VPS HostingNone
👉CFDs-Total Offered2,000+
📈CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💶Deposit OptionsBank transfer
Credit/debit card
PayPal
Neteller
Skrill, and more
💳Withdrawal OptionsBank transfer
Credit/debit card
PayPal
Neteller
Skrill, and more
📊Trading PlatformsProprietary eToro
Platform
(Web and
Mobile)
🍎OS CompatibilityWindows
Mac
iOS
Android
🔩Forex Trading ToolsCopyTrader
ProCharts
Trading Signals
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email AddressOnline contact form
☎️Customer Support Contact NumberN/A
📱Social Media PlatformsFacebook
Twitter
LinkedIn
YouTube
⚙️Languages Supported on eToro Website20+ languages
🎓Education and Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
📖Educational ResourcesBlogs
Tutorials
Guides
Videos
🤝Affiliate Program✅Yes
👥Amount of PartnersN/A
🫰🏻IB ProgramNone
🎁Sponsorships✅Yes,
various sports
and events
🎀Rebate ProgramNone
💰Cent or Micro AccountsNone
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 0

Regulators

FCA, CySEC, MFSA, ADGM, ASIC, FSAS, FinCEN

Trading Platform

No Trading Desk

Crypto

Yes

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

 

Pros and Cons

✅Pros❌Cons
Used by 6,000,000+ tradersDoesn’t allow scalping
Established in 2006Inactivity Fee
Regulated by FCA, CySEC, and ASICLimited range of instruments

 

Frequently Asked Questions

 

What is eToro?

eToro is a social trading and investment platform that allows users to trade various financial instruments, including forex, stocks, cryptocurrencies, commodities, and more.

 

What is the minimum deposit required to start trading on eToro?

The minimum deposit to open an account on eToro is $50.

 

Does eToro offer a demo account?

Yes, eToro provides a demo account that allows users to practice trading with virtual money before risking real funds.

 

What trading platforms does eToro use?

eToro has its proprietary trading platform, which is user-friendly and available on both web and mobile devices. It also offers a copy trading feature.

 

Overall Rating

Min Deposit

USD 0

Regulators

FCA, CySEC, MFSA, ADGM, ASIC, FSAS, FinCEN

Trading Platform

No Trading Desk

Crypto

Yes

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

 

Our Verdict

eToro is a versatile trading platform that caters to both novice and experienced traders. With its user-friendly interface, a minimum deposit of $50, and a robust selection of financial instruments—including forex, stocks, and cryptocurrencies—it makes trading accessible to a wide audience. Overall, eToro presents an appealing option for individuals interested in online trading, particularly those who value community engagement and educational resources.

 

EasyMarkets Review

 

7. EasyMarkets

EasyMarkets is an online forex and CFDs broker established in 2001, known for providing a user-friendly trading environment. With a minimum deposit requirement of $100, EasyMarkets offers a diverse range of trading instruments, including forex pairs, commodities, indices, and cryptocurrencies.

The platform features fixed spreads, which help traders manage their costs more predictably. Additionally, EasyMarkets offers innovative tools such as dealCancellation and a unique platform for trading, making it appealing for both beginner and experienced traders.

 

🔍Broker🥇EasyMarkets
🔢Year Founded2001
👤Amount of StaffApproximately 100
👥Amount of Active TradersOver 150,000
active traders
📌Publicly Traded None
📈RegulationCySEC
🌎Country of RegulationCyprus
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes
💙Investor Protection Schemes✅Yes, covered
under CySEC
➡️Institutional Accounts✅Yes
🫴🏻Managed Accounts✅Yes
💴Minor Account Currencies✅Yes
💵Minimum Deposit$100
⏰Average Deposit/Withdrawal Processing Time1-5 business days
for withdrawals
💳Fund Withdrawal FeeNone
✏️Spreads fromFrom 0.6 pips
💷CommissionsNo commissions
on trades
🔢Number of Base Currencies Supported15+ base currencies
💸Swap Fees✅Yes, applies for
positions held
overnight
⬆️LeverageUp to 1:500
📉Margin RequirementsVaries by account
type and trading instruments
☪️Islamic Account (Swap-Free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution TimeInstant execution
🖥️VPS Hosting✅Yes, available
🫴🏻CFDs - Total Offered200+
📈CFD Stock Indices✅Yes, major
global indices
📉CFD Commodities✅Yes, including oil,
gold, silver
📊CFD Shares✅Yes, over 1,000 stocks
💶Deposit OptionsCredit/Debit cards,
bank transfer,
e-wallets
💳Withdrawal OptionsBank transfer,
e-wallets
📊Trading PlatformsEasyMarkets Platform,
MT4
🍎OS CompatibilityWindows,
Mac,
iOS,
Android
🪛Forex Trading ToolsDealCancellation,
guaranteed stop loss
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes
💻Customer Support Email Addresssupport@easymarkets.com
☎️Customer Support Contact Number+357 25 266 212
📱Social Media PlatformsFacebook,
Twitter,
LinkedIn
⚙️Languages Supported on EasyMarkets WebsiteEnglish,
Spanish,
Arabic, and more
🎓Education and Research✅Yes
✏️Forex Course✅Yes
🖥️Webinars✅Yes
📖Educational ResourcesArticles,
tutorials,
videos
🤝Affiliate Program✅Yes
👥Amount of PartnersNumerous, exact
number not disclosed
🫰🏻IB Program✅Yes
🎁Sponsorships✅Yes, various trading
competitions
🎀Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes, Micro
accounts available
🚀Open an Account👉 Click Here

 

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

 

Pros and Cons

✅Pros❌ Cons
Segregates client fundsDoesn’t offer VPS
Minimum deposit from $1Limited range of instruments
Regulated by CySEC and ASICNot FCA Regulated

 

Frequently Asked Questions

 

What is the leverage offered by EasyMarkets?

EasyMarkets offers leverage of up to 1:500, depending on the account type and asset class.

 

Does EasyMarkets offer an Islamic (swap-free) account?

Yes, EasyMarkets provides Islamic accounts that do not incur swap fees for overnight positions.

 

Is there negative balance protection?

Yes, EasyMarkets offers negative balance protection, ensuring that clients cannot lose more than their account balance.

 

What trading platforms does EasyMarkets support?

EasyMarkets provides its own proprietary trading platform and also supports MetaTrader 4 (MT4).

 

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

 

Our Verdict

EasyMarkets is a well-regulated online trading platform that offers a range of financial instruments, including forex, commodities, and cryptocurrencies. The broker is committed to educating its clients, offering a variety of resources, including courses and webinars, to enhance trading skills. Overall, EasyMarkets presents a solid option for both novice and experienced traders looking to engage in the forex and CFD markets.

 

review FBS

 

8. FBS

FBS is a Forex and CFD broker that is authorized and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).

 

🔍Broker🥇FBS
🔢Year Founded2009
👤Amount of Staff300+
👥Amount of Active TradersOver 17 million
📌Publicly Traded None
📈RegulationFSC
CySEC
ASIC
🌎Country of RegulationBelize
Cyprus
🗂️Account Segregation✅Yes
🌟Negative Balance Protection✅Yes
💙Investor Protection Schemes✅Yes,
under CySEC
regulations
➡️Institutional AccountsNone
🫴🏻Managed AccountsNone
💴Minor Account CurrenciesUSD
EUR
JPY
GBP, and more
💵Minimum Deposit$1
⏰Average Deposit/Withdrawal TimeInstant to
48 hours
💳Fund Withdrawal FeeNo fees
for most
methods
✏️Spreads from0.0 pips
💷CommissionsFrom $0 to
$20 per
lot,
depending
on
account
type
5️⃣Number of Base Currencies5+
💶Swap FeesApplicable on
most
accounts
except for
Islamic
accounts
⬆️LeverageUp to 1:3000
📉Margin RequirementsDepends on
leverage
and
account
type
☪️Islamic Account (Swap-free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution TimeFrom 0.3 seconds
🖥️VPS Hosting✅Yes
🫴🏻CFDs-Total Offered200+
👉CFD Stock Indices✅Yes
📈CFD Commodities✅Yes
📊CFD Shares✅Yes
💴Deposit OptionsBank transfer
Credit/debit cards
e-wallets (Neteller,
Skrill, etc.)
local payment
systems
💳Withdrawal OptionsBank transfer
Credit/debit cards
e-wallets
(Neteller, Skrill, etc.)
local payment
systems
↪️Trading PlatformsMetaTrader 4 (MT4)
MetaTrader 5 (MT5)
FBS Trader App
🍎OS CompatibilityWindows
macOS
iOS
Android
🔩Forex Trading ToolsEconomic calendar
Forex calculators
Market analysis
VPS
Trading signals
🫴🏻Customer Support✅Yes
🗣️Live Chat Availability✅Yes, 24/7
💻Customer Support Email Addresssupport@fbs.com
☎️Customer Support Contact NumberCallback Option
📱Social Media PlatformsFacebook
Instagram
YouTube
Twitter
LinkedIn
Telegram
⚙️Languages Supported
on Website
20+
(including
English,
Spanish,
Portuguese,
Chinese,
Arabic, etc.)
🎓Education and Research✅Yes
✏️Forex Course✅Yes
💻Webinars✅Yes
📖Educational ResourcesArticles
videos
eBooks
webinars
tutorials
🤝Affiliate Program✅Yes
👥Amount of Partners450,000+
🫰🏻IB Program✅Yes
🎁SponsorshipsNo significant
sponsorships
🎀Rebate Program✅Yes
💰Cent or Micro Accounts✅Yes
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 5

Regulators

FSC, ASIC, CySEC

Trading Platform

MT4, MT5, FBS App

Crypto

Yes

Total Pairs

550+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅Pros❌Cons
Negative Balance ProtectionLimited Tradable assets
Excellent RegulationLimited Trading Platforms
Loyalty ProgramLimited Withdrawal Options
Diverse Account TypesRegional Restrictions

 

Frequently Asked Questions

 

Is there a demo account available?

Yes, FBS offers a free demo account for traders to practice their strategies without risking real money.

 

Are there any bonuses or promotions available?

Yes, FBS offers various bonuses and promotions, including a welcome bonus for new clients.

 

What is the leverage offered by FBS?

FBS offers leverage of up to 1:3000, depending on the account type and trading instrument.

 

What types of trading accounts does FBS offer?

FBS offers several types of accounts, including Standard, Cent, Micro, and ECN accounts, as well as Islamic accounts.

 

Overall Rating

Min Deposit

USD 5

Regulators

FSC, ASIC, CySEC

Trading Platform

MT4, MT5, FBS App

Crypto

Yes

Total Pairs

550+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

While FBS offers competitive trading conditions, it’s essential for traders to conduct their own research and understand the risks involved in forex and CFD trading before engaging with the platform. Overall, FBS presents a compelling option for those looking to enter the financial markets with a broker that supports both low-budget and high-leverage trading.

 

IG Reviewed and Rated

 

9. IG

IG Group was founded in 1974 and is regulated by the Financial Conduct Authority (FCA) in the U.K. and the Australian Securities and Investment Commission (ASIC) in Australia.

 

🔍Broker🥇IG
🔢Year Founded1974
👤Amount of staffApproximately 2,000+
👥Amount of active tradersOver 239,000
📌Publicly Traded ✅Yes,
listed on the
London Stock Exchange
(LSE: IGG)
📉RegulationFCA (UK)
ASIC (Australia)
CFTC (US)
NFA (US)
MAS (Singapore)
FMA (New Zealand)
JFSA (Japan)
FINMA (Switzerland), and others
🌎Country of regulationUnited Kingdom
Australia
United States
Singapore
New Zealand
Japan
Switzerland, and more
🗂️Account Segregation✅Yes
🌟Negative balance protection✅Yes
💙Investor Protection SchemesFSCS (UK) - up to £85,000
➡️Institutional Accounts✅Yes
🫴🏻Managed AccountsNone
💴Minor account currenciesUSD
EUR
GBP
AUD, and others
💵Minimum Deposit£250
(or equivalent in
other currencies)
⏰Average deposit/withdrawal processing timeDeposits: Instant
Withdrawals: 1-5
business days
💳Fund Withdrawal FeeNone
✏️Spreads from0.6 pips for
major currency
pairs
💷CommissionsZero commissions on Forex;
Commissions may
apply to shares trading
6️⃣Number of base currencies supported6+
USD
EUR
GBP
AUD
SGD
and others
💶Swap Fees✅Yes, swap fees apply
⬆️LeverageUp to 1:30 (retail clients)
Up to 1:200 (professional clients
depending on regulation)
📉Margin requirementsVaries by asset
class and
account type
☪️Islamic account (swap-free)✅Yes
🆓Demo Account✅Yes
⏰Order Execution TimeAverage execution
speed is less
than 0.1 seconds
🖥️VPS HostingYes (third-party
services available)
👉CFDs-Total OfferedOver 17,000 instruments
📈CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💶Deposit OptionsBank transfer
Credit/debit card
PayPal
Skrill
💳Withdrawal OptionsBank transfer
Credit/debit card
PayPal
📊Trading PlatformsMetaTrader 4 (MT4)
L2 Dealer
ProRealTime
IG Web Platform
IG Mobile Apps
🍎OS CompatibilityWindows
macOS
iOS
Android
🔩Forex trading toolsAutochartist
Trading Central
Economic Calendar
Risk Management Tools
🫴🏻Customer Support✅Yes
🗣️Live chat availability✅Yes
💻Customer Support Email addresshelpdesk@ig.com
☎️Customer Support Contact NumberVaries by country
📱Social media PlatformsFacebook
Twitter
LinkedIn
YouTube
⚙️Languages supported on IG Website12+ languages
including English
Spanish
French
German, and Chinese
🎓Education and Research✅Yes
✏️Forex course✅Yes
💻Webinars✅Yes
📖Educational ResourcesArticles
videos
tutorials
eBooks
seminars
🤝Affiliate program✅Yes
👥Amount of partnersNot specified
🫰🏻IB Program✅Yes
🎁Sponsorships✅Yes,
they have
partnerships with
various
organizations,
including sporting events.
🎀Rebate programNone
💰Cent or Micro AccountsNone
🚀Open an Account👉 Click Here

 

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

 

Pros and Cons

✅Pros❌Cons
Used by 178,000+ tradersInactivity Fee
Regulated by Financial Conduct Authority and ASICLimited range of instruments

 

Frequently Asked Questions

 

Is there an Islamic account option available?

IG does not specifically advertise Islamic accounts, but traders can inquire about swap-free options directly with their customer support.

 

Does IG offer an affiliate program?

Yes, IG has an affiliate program that allows partners to earn commissions by referring new clients to the platform.

 

Is there a demo account available?

Yes, IG offers a demo account where traders can practice trading with virtual funds before committing real money.

 

Are there any fees for trading with IG?

IG charges spreads on trades, and there may be additional fees for withdrawals and overnight financing (swap fees). However, they do not charge commissions on forex trades.

 

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

 

Our Verdict

While there is a minimum deposit requirement, IG provides a demo account for traders to practice without financial risk. The educational resources and customer support available further enhance the trading experience, making IG suitable for both novice and experienced traders. Overall, IG is a strong choice for anyone looking to enter the world of online trading.

 

HYCM Review

 

10. HYCM

HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

 

🔍Broker🥇HYCM
🔢Year Founded1977
👤Amount of staff100+
👥Amount of active tradersNot publicly disclosed
📌Publicly Traded None
📈RegulationFCA
🌎Country of regulationUK
🗂️Account Segregation✅Yes
🌟Negative balance protection✅Yes
💙Investor Protection Schemes✅Yes (UK
and EU)
➡️Institutional Accounts✅Yes
🫴🏻Managed Accounts✅Yes
💴Minor account currencies✅Yes
💵Minimum Deposit$100
⏰Average deposit/withdrawal processing time1-3 business days
💳Fund Withdrawal FeeNone
✏️Spreads from0.2 pips
(for fixed
spreads)
💷CommissionsVariable, depends
on account
type
🔢Number of base currencies supported16
💸Swap Fees✅Yes
(depends on
account type
and market
conditions)
⬆️LeverageUp to 1:500
📉Margin requirementsVariable
☪️Islamic account (swap-free)✅Yes
🆓Demo Account✅Yes
⏱️Order Execution Time1-2 seconds
(depends on
market
conditions)
🖥️VPS HostingAvailable
🫴🏻CFDs-Total Offered150+
📈CFD Stock Indices✅Yes
📉CFD Commodities✅Yes
📊CFD Shares✅Yes
💶Deposit OptionsBank Transfer
Credit/Debit Cards,
E-wallets
💳Withdrawal OptionsBank Transfer,
Credit/Debit Cards,
E-wallets
📊Trading PlatformsMetaTrader 4
(MT4),
MetaTrader 5
(MT5)
🍎OS CompatibilityWindows,
MacOS,
Android,
iOS
🪛Forex trading toolsTrading signals,
market analysis
tools
🫴🏻Customer Support✅Yes
🗣️Live chat availability✅Yes
💻Customer Support Email addressinfo@hycm.com
☎️Customer Support Contact Number+44 (0) 207 071 5215
📱Social media PlatformsFacebook,
Twitter,
LinkedIn
⚙️Languages supported on HYCM WebsiteEnglish,
Arabic,
Chinese,
Russian
🎓Education and Research✅Yes
✏️Forex course✅Yes
💻Webinars✅Yes
📖Educational ResourcesArticles,
video tutorials,
trading
guides
🤝Affiliate program✅Yes
👥Amount of partnersNot publicly
disclosed
🫰🏻IB Program✅Yes
🎁SponsorshipsNone
🎀Rebate program✅Yes
💰Cent or Micro Accounts✅Yes
🚀Open an Account👉 Click Here

 

Overall Rating

Min Deposit

USD 20

Regulators

FCA

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

69

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pros and Cons

✅Pros❌Cons
Segregates client fundsDoesn’t offer VPS
Established in 1977Inactivity Fee
Regulated by FCALimited range of instruments
Minimum deposit from $1Not ASIC Regulated

 

Frequently Asked Questions

 

Is HYCM suitable for beginners?

Yes, HYCM is considered suitable for beginners due to its user-friendly platforms, educational resources, and demo account options.

 

Does HYCM have any educational resources?

Yes, HYCM provides educational resources such as webinars, trading guides, and market analysis to help traders enhance their knowledge and skills.

 

How can I deposit and withdraw funds from my HYCM account?

HYCM supports various deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller.

 

What are the spreads like on HYCM?

HYCM offers competitive spreads that vary depending on the account type. For example, spreads can start as low as 0.2 pips for Raw Accounts.

 

Overall Rating

Min Deposit

USD 20

Regulators

FCA

Trading Platform

MT4, MT5

Crypto

Yes

Total Pairs

69

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Our Verdict

The availability of popular trading platforms like MetaTrader 4 and 5, alongside a demo account for practice, enhances the trading experience. HYCM offers robust customer support and educational resources, making it a suitable choice for traders looking to enhance their skills and trading strategies.

 

What is Forex Trading?

 

What is Forex Trading?

Forex trading, or foreign exchange trading, involves the buying and selling of currencies on the foreign exchange market with the aim of making a profit. It is one of the largest financial markets in the world, with a daily trading volume exceeding $6 trillion.

 

Key Aspects of Forex Trading:

 

  • Currencies are traded in pairs (e.g., EUR/USD), with the first as the base currency and the second as the quote currency. The exchange rate shows how much of the quoted currency is needed to buy one unit of the base.
  • Includes banks, financial institutions, corporations, governments, and individual traders, each trading for various reasons like hedging, speculation, or facilitating trade.
  • The forex market operates 24/5, divided into major sessions: Tokyo, London, and New York.
  • Allows traders to control larger positions with less capital, increasing both potential profits and risks.
  • Essential strategies include stop-loss orders and position size management to mitigate losses.

 

Forex trading offers opportunities for profit through fluctuations in currency prices. However, it also carries significant risks, and traders should approach it with a solid understanding of the market, a clear trading plan, and effective risk management strategies.

 

10 Best Forex Brokers Accepting Cheques

 

Pros and Cons

✅Pros❌Cons
High LiquidityHigh Risk
24-Hour MarketMarket Volatility
Diverse Trading OptionsRegulatory Challenges
Ability to Trade
from Anywhere
Limited Investor
Protection

 

In Conclusion

Now it is your turn to participate:

 

  • Which Broker Accepting Cheques from this list do you intend to test out?
  • What was the determining factor in your decision to engage with a certain broker?
  • Was it because of the Brker’s Features or the Pros and Cons?

 

Regardless, please share your thoughts in the comments below.

 

You Might Also Like:

 

 

Frequently Asked Questions

 

Which trading platforms are available on Forex.com?

Forex.com provides its own proprietary platform, as well as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and integration with TradingView.

 

Is IC Markets safe?

IC Markets is considered secure due to its regulatory compliance, account segregation, and transparency.

 

What trading platforms does FXCM provide?

FXCM offers its proprietary platform, Trading Station, as well as MetaTrader 4 (MT4) and NinjaTrader. It also supports third-party platforms like TradingView.

 

Is FP Markets suitable for beginners?

Yes, FP Markets offers educational resources, a demo account, and customer support to assist beginner traders.

 

Are there different account types on FXTM?

FXTM offers multiple account types, including Cent, Standard, ECN, and ECN Zero accounts, each with different features and minimum deposits.

 

Does eToro have a mobile app?

Yes, eToro offers a mobile app available for both iOS and Android devices, allowing traders to manage their accounts and execute trades on the go.

 

What is EasyMarkets?

EasyMarkets is an online forex and commodities trading platform that provides access to various financial instruments, including currency pairs, commodities, indices, and cryptocurrencies.

 

What is the average withdrawal processing time of FBS?

Withdrawal processing times may vary based on the method used, typically ranging from a few minutes to several days.

 

What is IG?

IG is a leading online trading platform that offers access to a wide range of financial markets, including forex, stocks, commodities, and cryptocurrencies.

 

Does HYCM provide a demo account?

Yes, HYCM offers a demo account where traders can practice their trading strategies without any financial risk.

Author Details

Picture of Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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