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A Cheque refers to a negotiable instrument which contains an unconditional order to a traders chosen bank to pay a certain sum mentioned in the cheque, from the investors account, to the person, business or broker to whom it is issued, or to the order of the specified person or the bearer.
10 Best Handpicked Forex Brokers accepting Cheques (2022):
- ✔️ Forex.com
Unfortunately, the selection of brokers who accept Cheques as a method of payment is few and far between.
Forex.com
Overall Rating
4.7/5
Rated #231 of
Recommended FX Brokers
Minimum Deposit USD 100
Regulators FCA, CySec
–
Yes
📈 Total Pairs
50
Islamic Account No
Trading Fees Low
24 Hours
Forex.com is a platform that can be used for trading foreign currencies and precious metals. Traders can trade over 80 currency pairs as well as silver and gold.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Segregates client funds | Doesn’t offer VPS |
| Established in 1999 | Not ASIC Regulated |
| Regulated by FCA | |
| Minimum deposit from $50 |
To open a live trading account, traders will need a minimum deposit of at least $50.
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | |
| Low minimum deposit | ECN account | |
| Islamic account |
Customer support is available by phone, live chat, or email 24 hours a day during market hours.
IC Markets
Overall Rating
4.7/5
Rated #37 of
Recommended FX Brokers
Minimum Deposit
USD 200
Regulators
ASIC, CySEC, FSA, SCB
MetaTrader 4
Yes
65
Islamic Account
Yes
Trading Fees
Low
24 Hours
IC Markets is a regulated Forex ECN and CFD broker which 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).
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Segregates client funds | Limited range of instruments |
| Established in 2007 | Not FCA Regulated |
| Regulated by ASIC | |
| Minimum deposit from $200 |
IC Markets offers traders three main types of live trading accounts to choose from, including Raw Islamic swap-free accounts and the use of a free demo trading account.
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | Neteller |
| Low minimum deposit | Zero spread account | PayPal |
| ECN account | Skrill | |
| Islamic account |
Customer support is available 24/7 via Live Chat, Phone, and Email.
FXCM
Overall Rating
4.6/5
Rated #26 of
Recommended FX Brokers
Minimum Deposit
USD 300
Regulators
FCA, FSCA
MetaTrader 4, Trading Station
Yes
7
Islamic Account
Yes
Trading Fees
Low
24 Hours
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.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Segregates client funds | Limited range of instruments |
| Established in 1999 | |
| Regulated by FCA | |
| Minimum deposit from $1 |
FXCM offers traders 4 main types of trading accounts to choose from, including Spread Betting, CFD Trading, Active Trader,s and Professional Clients. A Free Demo account is also made available.
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | Payoneer |
| Low min deposit | Islamic account |
Customer Support is available via Live Chat, Phone, Email, and SMS.
FP Markets
Overall Rating
4.7/5
Rated #23 of
Recommended FX Brokers
Minimum Deposit
USD 100
Regulators
ASIC, CySEC
MT4, MT5
Yes
60
Islamic Account
Yes
Trading Fees
Low
24 Hours
FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer 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.
Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform. FP Markets also offers traders mobile apps for Android and iOS.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Low Forex Fees | High Stock CFD fees |
| Easy Account Opening | Limited Product Portfolio |
| Quick Deposit and Withdrawal | Outdated Platform |
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Allows scalping | Mini account | Bank Transfer |
| Allows hedging | Standard account | Credit/Debit |
| Offers STP | ECN account | Electronic Wallets |
| Low min deposit | STP account | |
| Offers Negative Balance Protection | Managed account |
All accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, and Vietnamese.
Customer Service is available via email, phone, and live chat.
Forex Time (FXTM)
Overall Rating
4.6/5
Rated #32 of
Recommended FX Brokers
Minimum Deposit USD 10
Regulators CySec, FSCA
MetaTrader4, Metatrader 5
Yes
📈 Total Pairs
–
Islamic Account No
Trading Fees Low
24 Hours
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 which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Segregates client funds | Limited range of instruments |
| Established in 2011 | Not ASIC Regulated |
| Regulated by CySEC | |
| Minimum deposit from $10 |
FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Micro account | Bank Transfer |
| Offers STP | Mini account | Payoneer |
| Low minimum deposit | Standard account | Neteller |
| Offers Negative Balance Protection | Zero spread account | |
| ECN account | ||
| Islamic account |
Customer Service is available by phone, email, and online chat options – WhatsApp, live chat, Viber, Telegram, or Messenger.
eToro
Overall Rating
4.8/5
Rated #20 of
Recommended FX Brokers
Minimum Deposit
USD 50
Regulators
CySec, FCA
No Trading Desk
Yes
47
Islamic Account
Yes
Trading Fees
Low
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.
eToro is an online broker which 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), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies, and has been in operation for over 14 years.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Used by 6,000,000+ traders | Doesn’t allow scalping |
| Established in 2006 | Inactivity Fee |
| Regulated by FCA, CySEC, and ASIC | Limited range of instruments |
eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert. Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Offers STP | Demo account | Credit cards |
| Low minimum deposit | Micro account | Bank Transfer |
| Mini account | PayPal | |
| Standard account | Skrill | |
| Islamic account | Payoneer | |
| Neteller |
eToro supports a wide range of languages including English, German, Spanish, French, and Italian. 24/6 customer support is available via telephone and support ticket.
EasyMarkets
Overall Rating
4.9/5
Rated #18 of
Recommended FX Brokers
Minimum Deposit
$100
Regulators
CySEC, ASIC, BVI, FSA
MetaTrader 4, TradingView
Yes
275+
Islamic Account
Yes
Trading Fees
Low
24 Hours
EasyMarkets is one of the most popular choices for Beginners and is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner forex traders:
- Enhanced risk management tools as standard
- Fixed spreads on all forex pairings
- An easy-to-use forex trading platform
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Segregates client funds | Doesn’t offer VPS |
| Established in 2003 | Limited range of instruments |
| Regulated by CySEC and ASIC | Not FCA Regulated |
| Minimum deposit from $1 |
The available trading platforms offered are MT4 and the EasyMarkets web platform.
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Micro account | Bank Transfer |
| Low minimum deposit | Mini account | Payoneer |
| Guaranteed stop loss | Standard account | Neteller |
| Offers Negative Balance Protection | Islamic account |
Customer Support is available 24/5 via various chat channels, email, phone, and web forms.
FBS
Over 16 000 000+ Traders
Overall Rating
4.7/5
Rated #71 of
Recommended FX Brokers
Minimum Deposit USD 1
Regulators IFSC, FSCA (south africa), ASIC, CySEC
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform
Yes
📈 Total Pairs
250
Islamic Account No
Trading Fees Low
Welcome bonus
$140 (Find out More)
24 Hours
FBS is a Forex and CFD broker which is authorized and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Negative Balance Protection | Limited Tradable assets |
| Excellent Regulation | Limited Trading Platforms |
| Available in Multiple Countries | |
| Award-Winning Service |
FBS offers users the option to trade on Forex, Indices, Stocks, Metals, and Energies across the MetaTrader 4, MetaTrader 5, and FBS Trader trading platforms.
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Copy Trading | Cent account | Wire Transfer |
| Rapid Order Execution | Micro account | Credit/Debit |
| Standard account | Neteller | |
| Zero spread account | Bitwallet | |
| ECN account | Perfect Money |
Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber, and Facebook Messenger.
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.
MetaTrader 4
Yes
80
Islamic Account
Yes
Trading Fees
Low
24 Hours
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.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Used by 178,000+ traders | Inactivity Fee |
| Established in 1974 | Limited range of instruments |
| Regulated by Financial Conduct Authority and ASIC | |
| Minimum deposit from $250 |
The country of a trader’s residency will determine which account type they can open. In most countries, they will only be able to trade forex, CFDs, and options. Traders can choose between two trading platforms, IG’s proprietary trading platform or MetaTrader 4.
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Allows scalping | Demo account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Offers STP | Standard account | PayPal |
| Low minimum deposit | Payoneer | |
| Guaranteed stop loss |
Customer Service is available 24/7 via Phone, Live Chat, and Email.
HYCM
Overall Rating
4.5/5
Rated #36 of
Recommended FX Brokers
Minimum Deposit
USD 100
Regulators
FCA
MetaTrader 4, MetaTrader 5
Yes
69
Islamic Account
Yes
Trading Fees
Low
24 Hours
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.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Segregates client funds | Doesn’t offer VPS |
| Established in 1977 | Inactivity Fee |
| Regulated by FCA | Limited range of instruments |
| Minimum deposit from $1 | Not ASIC Regulated |
Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice.
A wide variety of instruments and currency pairs are available for trade namely over 100 instruments and over 40 currency pairs
Trading benefits
| 📊 Trading Features | 🔣 Accounts offered | 💰 Funding methods |
| Allows scalping | Micro account | Credit cards |
| Allows hedging | Mini account | Bank Transfer |
| Low minimum deposit | Standard account | PayPal |
| Islamic account | Payoneer |
HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat, and Phone – 24/5.
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