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 USD	1:200
🥈IC Markets	👉 Click Here	$50 USD	1:500
🥉FXCM	👉 Click Here	$50 USD	1:1000
🏅FP Markets	👉 Click Here	$50 USD	1:500
🏆FXTM	👉 Click Here	$200 USD	1:3000
🥇eToro	👉 Click Here	$50 USD	1:400
🥈EasyMarkets	👉 Click Here	$25 USD	1:200
🥉FBS	👉 Click Here	$5 USD	1:3000
🏅IG	👉 Click Here	$0 USD	1:200
🏆HYCM	👉 Click Here	$100 USD	1:100

 

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

 

 

 

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 Founded	2001
👥Amount of Staff	Approximately 400
👤Amount of Active Traders	Over 100,000
📌Publicly Traded	✅Yes (part of GAIN Capital Holdings, listed on NYSE)
📉Regulation	FCA, CFTC, ASIC
🗂️Account Segregation	✅Yes
🌟Negative Balance Protection	✅Yes
💙Investor Protection Schemes	✅Yes (NFA and FCA protections)
➡️Institutional Accounts	✅Yes
🫴🏻Managed Accounts	None
💴Minor Account Currencies	✅Yes
💵Minimum Deposit	$100
⏰Average Deposit/Withdrawal Processing Time	1-3 business days
💳Fund Withdrawal Fee	None (may vary by method)
✏️Spreads From	0.8 pips
💷Commissions	None on standard accounts (commission applies for certain accounts)
6️⃣Number of Base Currencies Supported	6 (USD, EUR, GBP, CAD, AUD, JPY)
💸Swap Fees	✅Yes (varies by instrument)
⬆️Leverage	Up to 1:200
📈Margin Requirements	Varies 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 Offered	Over 2,000
📈CFD Stock Indices	✅Yes
📉CFD Commodities	✅Yes
📊CFD Shares	✅Yes
💶Deposit Options	Bank transfer, credit/debit cards, e-wallets (PayPal, Skrill)
💳Withdrawal Options	Bank transfer, credit/debit cards, e-wallets
📊Trading Platforms	Forex.com Trading Platform, MetaTrader 4
🍎OS Compatibility	Windows Mac, iOS, Android
🪛Forex Trading Tools	Charting tools, trading alerts, research tools
🫴🏻Customer Support	✅Yes
🗣️Live Chat Availability	✅Yes
💻Customer Support Email Address	global.support@forex.com
☎️Customer Support Contact Number	+1 (877) 999-2450
📱Social Media Platforms	Facebook, Twitter, LinkedIn
⚙️Languages Supported on Forex.com Website	English, Spanish, Chinese, Japanese, French, German
🎓Education and Research	✅Yes
✏️Forex Course	✅Yes (various resources available)
🖥️Webinars	✅Yes
📖Educational Resources	Articles, video tutorials, trading guides
🤝Affiliate Program	✅Yes
👥Amount of Partners	Not 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

 

 

Pros and Cons

✅Pros	❌ Cons
Segregates client funds	Doesn’t offer VPS
Established in 1999	Not 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.

 

 

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.

 

 

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 Founded	2007
👤Amount of Staff	Over 200
👥Amount of Active Traders	Over 200,000
📌Publicly Traded	None
📈Regulation	ASIC CySEC FSA SCB
🌎Country of Regulation	Australia Cyprus Seychelles
🗂️Account Segregation	✅Yes
🌟Negative Balance Protection	✅Yes (varies by regulation)
💙Investor Protection Schemes	✅Yes (under CySEC regulation)
➡️Institutional Accounts	✅Yes
🫴🏻Managed Accounts	None
💴Minor Account Currencies	AUD USD EUR GBP SGD JPY CHF NZD HKD CAD
💵Minimum Deposit	$200
⏰Average Deposit/Withdrawal Processing Time	1-2 business days
💳Fund Withdrawal Fee	None
✏️Spreads from	0.0 pips (Raw Spread Account)
💶Commissions	$3.5 per side per lot (Raw Spread Account)
🔟Number of Base Currencies Supported	10
💷Swap Fees	✅Yes
⬆️Leverage	Up to 1:500
📉Margin Requirements	Depends on leverage and instrument
☪️Islamic Account (Swap-Free)	✅Yes
🆓Demo Account	✅Yes
⏰Order Execution Time	40 milliseconds
🖥️VPS Hosting	✅Yes (free under certain trading conditions)
📈CFDs-Total Offered	Over 2,000
↪️CFD Stock Indices	✅Yes
👉CFD Commodities	✅Yes
📊CFD Shares	✅Yes
💴Deposit Options	Bank Transfer Credit/Debit Cards PayPal Skrill Neteller UnionPay, etc.
💳Withdrawal Options	Bank Transfer Credit/Debit Cards PayPal Skrill Neteller UnionPay, etc.
📊Trading Platforms	MetaTrader 4 (MT4) MetaTrader 5 (MT5) cTrader
🍎OS Compatibility	Windows Mac iOS Android
✏️Forex Trading Tools	Market analysis Economic calendar VPS Autochartist Myfxbook
🫴🏻Customer Support	✅Yes
🗣️Live Chat Availability	✅Yes
💻Customer Support Email Address	support@icmarkets.com
☎️Customer Support Contact Number	+61 (0)2 8014 4280
📱Social Media Platforms	Facebook Twitter LinkedIn Instagram YouTube
⚙️Languages Supported on Website	English Chinese Spanish French German, and more
🎓Education and Research	✅Yes
✏️Forex Course	✅Yes
🖥️Webinars	✅Yes
📖Educational Resources	Articles video tutorials eBooks webinars FAQs
🤝Affiliate Program	✅Yes
👤Amount of Partners	Not specified
🫰🏻IB Program	✅Yes
🎁Sponsorships	No known sponsorships
🎀Rebate Program	✅Yes
💰Cent or Micro Accounts	None
🚀Open an Account	👉 Click Here

 

 

Pros and Cons

✅Pros	❌Cons
Segregates client funds	Limited range of instruments
Established in 2007	Not 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.

 

 

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.

 

 

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 Founded	1999
👤Amount of Staff	Over 600
👥Amount of Active Traders	Over 130,000 worldwide
📌Publicly Traded	None
📉Regulation	FCA, ASIC, FSCA, CySEC
🌎Country of Regulation	United Kingdom, Australia, South Africa, among others
🗂️Account Segregation	✅Yes
🌟Negative Balance Protection	✅Yes (only for retail clients under FCA and ASIC regulation)
💙Investor Protection Schemes	FSCS (UK)
➡️Institutional Accounts	✅Yes
🫴🏻Managed Accounts	✅Yes (through FXCM Prime)
💴Minor Account Currencies	EUR, GBP, AUD, JPY, CAD, CHF
💵Minimum Deposit	$50 for most account types
⏰Average Deposit/Withdrawal Time	1-3 business days
💳Fund Withdrawal Fee	Varies by method
✏️Spreads From	1.3 pips (EUR/USD)
💷Commissions	✅Yes, depending on the account type
5️⃣Number of Base Currencies Supported	5
💸Swap Fees	✅Yes
⬆️Leverage	Up to 1:400 (depending on the region)
📈Margin Requirements	Varies by asset class and region
☪️Islamic Account (Swap-Free)	✅Yes
🆓Demo Account	✅Yes
⏱️Order Execution Time	Less than 1 second
🖥️VPS Hosting	✅Yes, for eligible clients
👉CFDs - Total Offered	Over 300
📈CFD Stock Indices	✅Yes
📉CFD Commodities	✅Yes
📊CFD Shares	✅Yes
💶Deposit Options	Credit/Debit cards, Bank Transfer, Skrill, Neteller, UnionPay, etc.
💳Withdrawal Options	Bank Transfer, Credit/Debit cards, Skrill, Neteller, etc.
📊Trading Platforms	Trading Station, MetaTrader 4 (MT4), NinjaTrader, ZuluTrade
🍎OS Compatibility	Windows, Mac, iOS, Android
🪛Forex Trading Tools	Trading signals, market analysis, research tools, automated trading options
🫴🏻Customer Support	✅Yes
🗣️Live Chat Availability	✅Yes
💻Customer Support Email Address	info@fxcm.com
☎️Customer Support Contact Number	Varies by region
📱Social Media Platforms	Facebook, Twitter, LinkedIn, YouTube
⚙️Languages Supported on Website	English, French, German, Italian, Chinese, Japanese, Arabic, Spanish, and more
🎓Education ans Research	✅Yes
✏️Forex Course	✅Yes
💻Webinars	✅Yes
📖Educational Resources	Articles, videos, tutorials, webinars, trading guides
🤝Affiliate Program	✅Yes
👥Amount of Partners	Not specified
🫰🏻IB Program	✅Yes
🎁Sponsorships	No notable sponsorships currently
🎀Rebate Program	✅Yes
💰Cent or Micro Accounts	✅Yes
🚀Open an Account	👉 Click Here

 

 

Pros and Cons

✅Pros	❌Cons
Segregates client funds	Limited 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.

 

 

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.

 

 

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 Founded	2005
👥Amount of Staff	Over 200
👤Amount of Active Traders	60,000+
📍Publicly Traded	None
📈Regulation	ASIC (Australia) CySEC (Cyprus) FSCA (South Africa)
🌎Country of Regulation	Australia Cyprus South Africa
🗂️Account Segregation	✅Yes
📌Negative Balance Protection	✅Yes
🚩Investor Protection Schemes	✅Yes (CySEC)
🖋️Account Types and Features	Standard Raw ECN VIP accounts available
🎉Institutional Accounts	✅Yes
👤Managed Accounts	None
💵Minor Account Currencies	EUR USD GBP AUD CAD CHF JPY NZD SGD HKD
💴Minimum Deposit	$100
⏱️Average Deposit/Withdrawal Processing Time	Instant - 1 business day
💸Fund Withdrawal Fee	None
✏️Spreads	0.0 pips
💷Commissions	From $3 per side (Raw account)
🔢Number of Base Currencies Supported	10
💶Swap Fees	✅Yes
⬆️Leverage	Up to 1:500
📉Margin Requirements	Varies 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 Offered	10,000+
📊CFD Stock Indices	23+
💡CFD Commodities	12+
👉CFD Shares	2,000+
💳Deposit Options	Bank transfer Credit/Debit card PayPal Neteller Skrill Fasapay and more
💳Withdrawal Options	Bank transfer Credit/Debit card PayPal Neteller Skrill Fasapay and more
🛎️Trading Platforms	MetaTrader 4 MetaTrader 5 IRESS,WebTrader Mobile Apps
💻OS Compatibility	Windows macOS iOS Android
🔩Forex Trading Tools	Autochartist VPS Trading Central Myfxbook
🤝Customer Support	✅Yes
🗣️Live Chat Availability	✅Yes
🖥️Customer Support Email Address	support@fpmarkets.com
☎️Customer Support Contact Number	+61 2 8252 6800
📱Social Media Platforms	Facebook Twitter LinkedIn Instagram YouTube
⚙️Languages Supported on Website	10+ 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 Partners	Thousands 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

 

 

Pros and Cons

✅Pros	❌Cons
Low Forex Fees	High Stock CFD fees
Easy Account Opening	Limited Product Portfolio
Quick Deposit and Withdrawal	Outdated 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.

 

 

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.

 

 

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 Founded	2011
👤Amount of Staff	Over 800
👥Amount of Active Traders	Over 4 million
📌Publicly Traded	None
📈Regulation	FCA CySEC FSC
🌎Country of Regulation	UK Cyprus South Africa Mauritius
🗂️Account Segregation	✅Yes
🌟Negative Balance Protection	✅Yes
💙Investor Protection Schemes	✅Yes (varies by regulatory entity)
➡️Institutional Accounts	✅Yes
🫴🏻Managed Accounts	None
💴Minor Account Currencies	USD EUR GBP NGN
💵Minimum Deposit	$10 for Cent Accounts
⏰Average Deposit/Withdrawal Processing Time	Instant - 24 hours
💳Fund Withdrawal Fee	None (but third-party fees may apply)
✏️Spreads from	0.0 pips
💶Commissions	$0 - $4 per lot depending on account type
4️⃣Number of Base Currencies Supported	4
💷Swap Fees	✅Yes
⬆️Leverage	Up to 1:2000
📉Margin Requirements	Based on leverage
☪️Islamic Account (Swap-Free)	✅Yes
🆓Demo Account	✅Yes
⏰Order Execution Time	0.05 seconds (Average)
🖥️VPS Hosting	✅Yes (Free with conditions)
📈CFDs-Total Offered	Over 250
👉CFD Stock Indices	✅Yes
📉CFD Commodities	✅Yes
📊CFD Shares	✅Yes
💴Deposit Options	Bank transfer Credit/debit cards e-wallets (Skrill Neteller, etc.)
💳Withdrawal Options	Bank transfer Credit/debit cards e-wallets (Skrill Neteller, etc.)
📊Trading Platforms	MetaTrader 4 MetaTrader 5 FXTM Trader App
🍎OS Compatibility	Windows macOS iOS Android
🔩Forex Trading Tools	Forex calculators VPS Trading signals Market analysis tools
🫴🏻Customer Support	✅Yes
🗣️Live Chat Availability	✅Yes
💻Customer Support Email Address	support@fxtm.com
☎️Customer Support Contact Number	+44 203 734 1098
📱Social Media Platforms	Facebook Twitter Instagram LinkedIn YouTube
⚙️Languages Supported on Website	16+
🎓Education and Research	✅Yes
✏️Forex Course	✅Yes
💻Webinars	✅Yes
📖Educational Resources	Articles tutorials eBooks Video tutorials
🤝Affiliate Program	✅Yes
👤Amount of Partners	Over 1,000
🫰🏻IB Program	✅Yes
🎁Sponsorships	No notable current sponsorships
🎀Rebate Program	✅Yes
💰Cent or Micro Accounts	✅Yes (Cent Account)
🚀Open an Account	👉 Click Here

 

 

Pros and Cons

✅Pros	❌Cons
Segregates client funds	Limited range of instruments
Established in 2011	Not 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.

 

 

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.

 

 

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 Founded	2007
👤Amount of Staff	1,000+
👥Amount of Active Traders	30+ million
📌Publicly Traded	None
📉Regulation	CySec (Cyprus) FCA (UK).
🌎Country of Regulation	UK Cyprus
🗂️Account Segregation	✅Yes
🌟Negative Balance Protection	✅Yes
💙Investor Protection Schemes	✅Yes (for European clients under CySEC regulation)
➡️Institutional Accounts	None
🫴🏻Managed Accounts	None
💴Minor Account Currencies	USD EUR GBP AUD
💵Minimum Deposit	$10 (varies by region and payment method)
⏰Average Deposit/Withdrawal Processing Time	Instant for deposits; 1-8 business days for withdrawals
💳Fund Withdrawal Fee	$5
✏️Spreads from	1 pip
💶Commissions	Zero commission for stocks, spreads on CFDs
9️⃣Number of Base Currencies Supported	9 USD EUR GBP AUD CAD JPY CHF NZD and more
💷Swap Fees	✅Yes (overnight fees)
⬆️Leverage	Up to 1:30 (varies by instrument and region)
📉Margin Requirements	Depends on asset class
☪️Islamic Account (Swap-Free)	✅Yes
🆓Demo Account	✅Yes
⏱️Order Execution Time	Market execution
🖥️VPS Hosting	None
👉CFDs-Total Offered	2,000+
📈CFD Stock Indices	✅Yes
📉CFD Commodities	✅Yes
📊CFD Shares	✅Yes
💶Deposit Options	Bank transfer Credit/debit card PayPal Neteller Skrill, and more
💳Withdrawal Options	Bank transfer Credit/debit card PayPal Neteller Skrill, and more
📊Trading Platforms	Proprietary eToro Platform (Web and Mobile)
🍎OS Compatibility	Windows Mac iOS Android
🔩Forex Trading Tools	CopyTrader ProCharts Trading Signals
🫴🏻Customer Support	✅Yes
🗣️Live Chat Availability	✅Yes
💻Customer Support Email Address	Online contact form
☎️Customer Support Contact Number	N/A
📱Social Media Platforms	Facebook Twitter LinkedIn YouTube
⚙️Languages Supported on eToro Website	20+ languages
🎓Education and Research	✅Yes
✏️Forex Course	✅Yes
💻Webinars	✅Yes
📖Educational Resources	Blogs Tutorials Guides Videos
🤝Affiliate Program	✅Yes
👥Amount of Partners	N/A
🫰🏻IB Program	None
🎁Sponsorships	✅Yes, various sports and events
🎀Rebate Program	None
💰Cent or Micro Accounts	None
🚀Open an Account	👉 Click Here

 

 

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

 

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.

 

 

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.

 

 

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 Founded	2001
👤Amount of Staff	Approximately 100
👥Amount of Active Traders	Over 150,000 active traders
📌Publicly Traded	None
📈Regulation	CySEC
🌎Country of Regulation	Cyprus
🗂️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 Time	1-5 business days for withdrawals
💳Fund Withdrawal Fee	None
✏️Spreads from	From 0.6 pips
💷Commissions	No commissions on trades
🔢Number of Base Currencies Supported	15+ base currencies
💸Swap Fees	✅Yes, applies for positions held overnight
⬆️Leverage	Up to 1:500
📉Margin Requirements	Varies by account type and trading instruments
☪️Islamic Account (Swap-Free)	✅Yes
🆓Demo Account	✅Yes
⏱️Order Execution Time	Instant execution
🖥️VPS Hosting	✅Yes, available
🫴🏻CFDs - Total Offered	200+
📈CFD Stock Indices	✅Yes, major global indices
📉CFD Commodities	✅Yes, including oil, gold, silver
📊CFD Shares	✅Yes, over 1,000 stocks
💶Deposit Options	Credit/Debit cards, bank transfer, e-wallets
💳Withdrawal Options	Bank transfer, e-wallets
📊Trading Platforms	EasyMarkets Platform, MT4
🍎OS Compatibility	Windows, Mac, iOS, Android
🪛Forex Trading Tools	DealCancellation, guaranteed stop loss
🫴🏻Customer Support	✅Yes
🗣️Live Chat Availability	✅Yes
💻Customer Support Email Address	support@easymarkets.com
☎️Customer Support Contact Number	+357 25 266 212
📱Social Media Platforms	Facebook, Twitter, LinkedIn
⚙️Languages Supported on EasyMarkets Website	English, Spanish, Arabic, and more
🎓Education and Research	✅Yes
✏️Forex Course	✅Yes
🖥️Webinars	✅Yes
📖Educational Resources	Articles, tutorials, videos
🤝Affiliate Program	✅Yes
👥Amount of Partners	Numerous, 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

 

 

Pros and Cons

✅Pros	❌ Cons
Segregates client funds	Doesn’t offer VPS
Minimum deposit from $1	Limited range of instruments
Regulated by CySEC and ASIC	Not 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).

 

 

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.

 

 

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 Founded	2009
👤Amount of Staff	300+
👥Amount of Active Traders	Over 17 million
📌Publicly Traded	None
📈Regulation	FSC CySEC ASIC
🌎Country of Regulation	Belize Cyprus
🗂️Account Segregation	✅Yes
🌟Negative Balance Protection	✅Yes
💙Investor Protection Schemes	✅Yes, under CySEC regulations
➡️Institutional Accounts	None
🫴🏻Managed Accounts	None
💴Minor Account Currencies	USD EUR JPY GBP, and more
💵Minimum Deposit	$1
⏰Average Deposit/Withdrawal Time	Instant to 48 hours
💳Fund Withdrawal Fee	No fees for most methods
✏️Spreads from	0.0 pips
💷Commissions	From $0 to $20 per lot, depending on account type
5️⃣Number of Base Currencies	5+
💶Swap Fees	Applicable on most accounts except for Islamic accounts
⬆️Leverage	Up to 1:3000
📉Margin Requirements	Depends on leverage and account type
☪️Islamic Account (Swap-free)	✅Yes
🆓Demo Account	✅Yes
⏱️Order Execution Time	From 0.3 seconds
🖥️VPS Hosting	✅Yes
🫴🏻CFDs-Total Offered	200+
👉CFD Stock Indices	✅Yes
📈CFD Commodities	✅Yes
📊CFD Shares	✅Yes
💴Deposit Options	Bank transfer Credit/debit cards e-wallets (Neteller, Skrill, etc.) local payment systems
💳Withdrawal Options	Bank transfer Credit/debit cards e-wallets (Neteller, Skrill, etc.) local payment systems
↪️Trading Platforms	MetaTrader 4 (MT4) MetaTrader 5 (MT5) FBS Trader App
🍎OS Compatibility	Windows macOS iOS Android
🔩Forex Trading Tools	Economic calendar Forex calculators Market analysis VPS Trading signals
🫴🏻Customer Support	✅Yes
🗣️Live Chat Availability	✅Yes, 24/7
💻Customer Support Email Address	support@fbs.com
☎️Customer Support Contact Number	Callback Option
📱Social Media Platforms	Facebook 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 Resources	Articles videos eBooks webinars tutorials
🤝Affiliate Program	✅Yes
👥Amount of Partners	450,000+
🫰🏻IB Program	✅Yes
🎁Sponsorships	No significant sponsorships
🎀Rebate Program	✅Yes
💰Cent or Micro Accounts	✅Yes
🚀Open an Account	👉 Click Here

 

 

Pros and Cons

✅Pros	❌Cons
Negative Balance Protection	Limited Tradable assets
Excellent Regulation	Limited Trading Platforms
Loyalty Program	Limited Withdrawal Options
Diverse Account Types	Regional 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.

 

 

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.

 

 

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 Founded	1974
👤Amount of staff	Approximately 2,000+
👥Amount of active traders	Over 239,000
📌Publicly Traded	✅Yes, listed on the London Stock Exchange (LSE: IGG)
📉Regulation	FCA (UK) ASIC (Australia) CFTC (US) NFA (US) MAS (Singapore) FMA (New Zealand) JFSA (Japan) FINMA (Switzerland), and others
🌎Country of regulation	United Kingdom Australia United States Singapore New Zealand Japan Switzerland, and more
🗂️Account Segregation	✅Yes
🌟Negative balance protection	✅Yes
💙Investor Protection Schemes	FSCS (UK) - up to £85,000
➡️Institutional Accounts	✅Yes
🫴🏻Managed Accounts	None
💴Minor account currencies	USD EUR GBP AUD, and others
💵Minimum Deposit	£250 (or equivalent in other currencies)
⏰Average deposit/withdrawal processing time	Deposits: Instant Withdrawals: 1-5 business days
💳Fund Withdrawal Fee	None
✏️Spreads from	0.6 pips for major currency pairs
💷Commissions	Zero commissions on Forex; Commissions may apply to shares trading
6️⃣Number of base currencies supported	6+ USD EUR GBP AUD SGD and others
💶Swap Fees	✅Yes, swap fees apply
⬆️Leverage	Up to 1:30 (retail clients) Up to 1:200 (professional clients depending on regulation)
📉Margin requirements	Varies by asset class and account type
☪️Islamic account (swap-free)	✅Yes
🆓Demo Account	✅Yes
⏰Order Execution Time	Average execution speed is less than 0.1 seconds
🖥️VPS Hosting	Yes (third-party services available)
👉CFDs-Total Offered	Over 17,000 instruments
📈CFD Stock Indices	✅Yes
📉CFD Commodities	✅Yes
📊CFD Shares	✅Yes
💶Deposit Options	Bank transfer Credit/debit card PayPal Skrill
💳Withdrawal Options	Bank transfer Credit/debit card PayPal
📊Trading Platforms	MetaTrader 4 (MT4) L2 Dealer ProRealTime IG Web Platform IG Mobile Apps
🍎OS Compatibility	Windows macOS iOS Android
🔩Forex trading tools	Autochartist Trading Central Economic Calendar Risk Management Tools
🫴🏻Customer Support	✅Yes
🗣️Live chat availability	✅Yes
💻Customer Support Email address	helpdesk@ig.com
☎️Customer Support Contact Number	Varies by country
📱Social media Platforms	Facebook Twitter LinkedIn YouTube
⚙️Languages supported on IG Website	12+ languages including English Spanish French German, and Chinese
🎓Education and Research	✅Yes
✏️Forex course	✅Yes
💻Webinars	✅Yes
📖Educational Resources	Articles videos tutorials eBooks seminars
🤝Affiliate program	✅Yes
👥Amount of partners	Not specified
🫰🏻IB Program	✅Yes
🎁Sponsorships	✅Yes, they have partnerships with various organizations, including sporting events.
🎀Rebate program	None
💰Cent or Micro Accounts	None
🚀Open an Account	👉 Click Here

 

 

Pros and Cons

✅Pros	❌Cons
Used by 178,000+ traders	Inactivity Fee
Regulated by Financial Conduct Authority and ASIC	Limited 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.

 

 

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.

 

 

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 Founded	1977
👤Amount of staff	100+
👥Amount of active traders	Not publicly disclosed
📌Publicly Traded	None
📈Regulation	FCA
🌎Country of regulation	UK
🗂️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 time	1-3 business days
💳Fund Withdrawal Fee	None
✏️Spreads from	0.2 pips (for fixed spreads)
💷Commissions	Variable, depends on account type
🔢Number of base currencies supported	16
💸Swap Fees	✅Yes (depends on account type and market conditions)
⬆️Leverage	Up to 1:500
📉Margin requirements	Variable
☪️Islamic account (swap-free)	✅Yes
🆓Demo Account	✅Yes
⏱️Order Execution Time	1-2 seconds (depends on market conditions)
🖥️VPS Hosting	Available
🫴🏻CFDs-Total Offered	150+
📈CFD Stock Indices	✅Yes
📉CFD Commodities	✅Yes
📊CFD Shares	✅Yes
💶Deposit Options	Bank Transfer Credit/Debit Cards, E-wallets
💳Withdrawal Options	Bank Transfer, Credit/Debit Cards, E-wallets
📊Trading Platforms	MetaTrader 4 (MT4), MetaTrader 5 (MT5)
🍎OS Compatibility	Windows, MacOS, Android, iOS
🪛Forex trading tools	Trading signals, market analysis tools
🫴🏻Customer Support	✅Yes
🗣️Live chat availability	✅Yes
💻Customer Support Email address	info@hycm.com
☎️Customer Support Contact Number	+44 (0) 207 071 5215
📱Social media Platforms	Facebook, Twitter, LinkedIn
⚙️Languages supported on HYCM Website	English, Arabic, Chinese, Russian
🎓Education and Research	✅Yes
✏️Forex course	✅Yes
💻Webinars	✅Yes
📖Educational Resources	Articles, video tutorials, trading guides
🤝Affiliate program	✅Yes
👥Amount of partners	Not publicly disclosed
🫰🏻IB Program	✅Yes
🎁Sponsorships	None
🎀Rebate program	✅Yes
💰Cent or Micro Accounts	✅Yes
🚀Open an Account	👉 Click Here

 

 

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

 

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.

 

 

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?

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.

 

 

Pros and Cons

✅Pros	❌Cons
High Liquidity	High Risk
24-Hour Market	Market Volatility
Diverse Trading Options	Regulatory 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.

 

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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.