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27 Best Forex Brokers for Professionals

27 Best Forex Brokers for Professionals

 

 

Overview

A professional Forex trader is someone who uses price movement in the Foreign exchange currency market to make a profit.

Any Forex trader aims to win as many trades as possible and also to maximize those winning trades. A professional Forex chart technician uses price charts to analyze and trade the market.

 

 

As such, a professional Forex trader can be understood as someone who has acquired enough fundamental and technical knowledge to execute trades on this basis.

A professional trader may also be someone who almost exclusively earns an income from forex trading.

In this article, we explore the 27 best forex brokers for professionals, to identify those brokers which offer the best and most advanced trading conditions and resources.

 

Here are our 10 Best Handpicked Forex Brokers for Professionals.

 

 

Let’s get started with the full breakdown of the Forex Brokers for Professionals:

 

 

FxPro

 

Overall Rating

4.7/5

Rated #202 of
Recommended FX Brokers

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

FCA, CySEC, FSCA, SCB

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

70

☪️ Islamic Account

Yes

📊 Trading Fees

High

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

FxPro is a global and award-winning broker that offers CFDs on 6 asset classes: Forex, Shares, Spot Indices, Futures, Spot Metals, and Spot Energies. It was founded in 2006 that aims to reshape online trading.

It is the first broker to sponsor an F1 team in the year 2008 and has expanded exponentially in 2012. FxPro is voted as ‘Best Broker’ from the year 2015-2017 by the Financial Times.

 

Pros and Cons

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

Low trading fees

Features

Feature Information
Regulation FCA, CySEC, FSCA
Minimum deposit from $100
Average spread from 1.7 pips
Commissions from $45 per million USD traded.
Deposit/Withdrawal Fees 1.6% for debit and credit card
Maximum Leverage 1:500
Bonuses None
Customer Support 24/5

 

Pepperstone

 

Overall Rating

4.9/5

Rated #10 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

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

📱 Trading Desk

MetaTrader 4, MetaTrader 5 and cTrader, TradingView

Crypto

Yes

📈 Total Pairs

1000+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Pepperstone Group Limited was founded in Melbourne in 2010 by a team of experienced former traders. The company has grown rapidly over the last 10 years, expanding globally by opening offices in London, Shanghai, and Dallas.

This growth has come on the back of its commitment to providing customers with the latest in trading technology and superior customer service.

Through the use of low-latency trading software, it can provide retail investors with the same fast trade execution enjoyed by banks and large financial companies.

 

Pros and Cons

✔️ PROS

No minimum deposit

Low trading fees for forex

No added costs for withdrawals or deposits

❌ CONS

A limited number of instruments

No additional research tools

 

Features

Feature Information
Regulation FCA, ASIC
Minimum deposit from AUD200
Average spread from 0.4 pips
Commissions from ‎$3.76 commission per lot per trade
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses None
Customer Support 24/5

 

Dukascopy

 

Overall Rating

4.6/5

Rated #17 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FINMA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

18

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Dukascopy is a Swiss broker with its own banking license. The mission of this broker is to offer a very professional Forex trading experience and every trader should be happy to make use of such a professional broker.

Dukascopy offers a nice selection of different platforms. There’s a Java-based WebTrader that allows you to trade without a download, at foreign PCs for example.

The platform that is used most at Dukascopy is JForex. This is their very own platform aimed at professional traders.

 

Pros and Cons

✔️ PROS ❌ CONS
Good choice for high volume traders

Comprehensive analytical tools

Flexible trading on advanced platforms

Good selection of currency accounts

High commission

Charges withdrawal fees

High minimum deposit

Charges inactivity fee

 

Features

Feature Information
Regulation FINMA
Minimum deposit from $100
Average spread from 0.3 pips
Commissions from ‎$49.5 per $1 million traded
Deposit/Withdrawal Fees Varies depending on the method
Maximum Leverage 1:200
Bonuses 10% Equity Bonus
Customer Support 24/5

 

Admiral Markets

 

Overall Rating

4.2/5

Rated #214 of
Recommended FX Brokers

💰Minimum Deposit

USD 1

🌐 Regulators

MiFID 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Admiral Markets investment firms functioning under the Admiral Markets trademark, are prominent online financial service providers.

They offer investment services for trading with foreign currencies as well as derivatives on indices, metals, energies, stocks, bonds, and cryptocurrencies.

Their adherence to providing access to highly functional software and quality assurance has made them the providers of the best trading experience.

Admiral Markets uses external auditors to reinforce its operational and internal processes to assure administrative compliance.

 

Pros and Cons

✔️ PROS ❌ CONS
Segregated client accounts No fixed spread accounts
Advanced trading tools

Negative balance protection

 

Features

Feature Information
Regulation FCA, ASIC, CySEC
Minimum deposit from $100
Average spread from 0.6 pips
Commissions from  0.01 USD (or the equivalent in another currency) per share per side
Deposit/Withdrawal Fees 1% on e-wallets
Maximum Leverage 1:500
Bonuses 50 EUR No Deposit Bonus
Customer Support 24/5

 

Oanda

 

Overall Rating

4.9/5

Rated #194 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, ASIC, FSC, BVI and IIROC

📱 Trading Desk

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

Crypto

Yes

📈 Total Pairs

45 

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

OANDA offers FX and CDF trading in key indices and commodities via its global subsidiaries. The broker combines robust charting and extensive research tools across an array of trading platforms.

OANDA is one of the global leaders in forex and exchange markets. The broker offers forex and CFD trading to the individual as well as institutional traders. It also offers currency management solutions and exchange rates for international ventures.

 

Pros and Cons

✔️ PROS

User-friendly trading platform

Low minimum deposit

Low trading fees

❌ CONS

Lack of decent customer service

High withdrawal fees

Limited instruments for forex and CFDs

 

Features

Feature Information
Regulation FCA, RFED
Minimum deposit from None
Average spread from 1.6 pips
Commissions from USD 0.01 per trade
Deposit/Withdrawal Fees None
Maximum Leverage 1:100
Bonuses None
Customer Support 24/5

 

AMarkets

 

Overall Rating

4.3/5

Rated #219 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

IFC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

AMarkets, formerly known as AForex and operated by AMarkets LTD., is a leading broker which proves a wide variety of electronically traded products such as Forex, Metals, Commodities, Cryptocurrencies, Bonds and Equities CFDs.

AMarkets provides direct access to global markets and executes nearly 10,000 trades per day, equips clients with all necessary tools for self and algorithmic trading, as well as with robust money management solutions.

 

Pros and Cons

✔️ PROS ❌ CONS
Advanced trading platforms Liberal regulation
Low minimum deposit
High leverage

 

Features

Feature Information
Regulation CRFIN
Minimum deposit from $1
Average spread from 0.0 pips
Commissions from $5 per lot on ECN accounts
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses $30 No Deposit Bonus
Customer Support 24/5

 

FXCM

 

Overall Rating

4.6/5

Rated #26 of
Recommended FX Brokers

💰Minimum Deposit

USD 300

🌐 Regulators

FCA, FSCA

📱 Trading Desk

MetaTrader 4, Trading Station

Crypto

Yes

📈 Total Pairs

7

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

FXCM was established in the wake of modern forex trading in 1999. FXCM was originally a US broker yet it has since expanded its services to Europe, South Africa, and Australia.

FXCM’s sophisticated proprietary platform, Trading Station, offers all a trader can wish for, from analytical tools to powerful charts and automated strategies, as well as custom indicators.

 

Pros and Cons

✔️ PROS

Excellent educational resources for beginner traders

Low minimum deposit requirement

Advanced research tools

Excellent customer support

❌ CONS

No Web Trader option available for trading platforms

Rudimentary mobile trading platform

Limited product portfolio

 

Features

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

 

Swissquote

 

Best Australian Forex Broker Swissquote

Overall Rating

4.5/5

Rated #310 of 
Recommended FX Brokers

💰Minimum Deposit

USD 1000

🌐 Regulators

FCA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

10

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Swissquote Bank launched over two decades ago in 1996 and not long after (2000) it became a publicly traded company on the SIX Swiss stock exchange, using the ticker symbol SQN.

Since that time, it has grown to over 340,000 client accounts throughout Europe and Asia.

When it comes to research and other tools, Swissquote comes out about average when compared with other brokers. Clients have access to free analyst reports via email and can get both fundamental and technical analyses.

 

Pros and Cons

✔️ PROS ❌ CONS
Comprehensive product portfolio

Solid reputation

No additional forex fees

High trading fees

 

Features

Feature Information
Regulation FCA
Minimum deposit from None for a standard account
Average spread from 1.6 pips
Commissions from None
Deposit/Withdrawal Fees $10
Maximum Leverage 1:400
Bonuses Refer a Friend Bonus
Customer Support 8/5

 

Darwinex

 

Overall Rating

4.1/5

Rated #287 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

FCA

📱 Trading Desk

Meta Trader 4, Meta Trader 5

Crypto

Yes

📈 Total Pairs

41

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Darwinex, in operation since 2012 and located in the UK, is a technology provider that enables traders direct market access to over 300 assets.

Their prime service remains in asset management, allowing traders to invest in thousands of strategies, while also being able to legally gain access to trading capital for a 15% performance fee.

 

Pros and Cons

✔️ PROS ❌ CONS
Competitive spreads

Three base currencies are available

You have to sign up either as a trader or an investor

20% performance fee

Complicated account opening process

 

Features

Feature Information
Regulation FCA
Minimum deposit from $500
Average spread from 0.0 pips
Commissions from 3.0 USD per lot round-trip
Deposit/Withdrawal Fees 0.5% for Skrill
Maximum Leverage 1:30
Bonuses None
Customer Support 24/5

 

Vantage FX

 

Overall Rating

4.7/5

Rated #66 of
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

VFSC 

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Vantage FX started its business operation in 2009 to offer trading to retail forex traders to experience an unparalleled trading experience. The main aim of the company is to provide a transparent trading environment in the forex market.

Vantage FX offers institutional grade liquidity from the world’s largest banks and financial institutes directly into MT4 and MT5. Therefore traders can have the absolute best bid and ask price from the available price.

 

Pros and Cons

✔️ PROS ❌ CONS
Well regulated

Good environment for beginner traders

Has indemnity insurance

Limited range of tradable instruments

 

Features

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

 

Interactive Brokers

 

Overall Rating

4.9/5

Rated #41 of
Recommended FX Brokers

💰Minimum Deposit

🌐 Regulators

FCA, ASIC, NYSE, SEC, FINRA, IIROC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Interactive Brokers is a firm best-suited for experienced traders and active investors. Among that clientele, it is quite competitive.

It has managed to remain competitive because of its suite of tools, resources, and access to markets. IB’s highlights include its order execution system and mutual fund replicator.

 

Pros and Cons

✔️ PROS ❌ CONS
Wide range of products

Excellent research tools

Well regulated

Complicated account opening process

 

Features

Feature Information
Regulation FCA, ASIC, NYSE, SEC, FINRA, IIROC
Minimum deposit from None
Average spread from 0.1 pips
Commissions from $0.65
Deposit/Withdrawal Fees Varies depending on the payment method
Maximum Leverage 1:40
Bonuses None
Customer Support 24/6

 

RoboMarkets

 

Overall Rating

4.7/5

Rated #58 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

35

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

RoboMarkets offer a competitive and feature-rich service. The trading conditions are competitive with decent spreads and leverage along with the very responsive support and the large range of tradable instruments can make RoboMarkets and very compelling choice.

 

Pros and Cons

✔️ PROS ❌ CONS
Low forex fees

Easy and fast account opening

Free deposit and withdrawal

No Negative Account Balance Protection

A limited number of available CFDs

 

Features

Feature Information
Regulation ASIC
Minimum deposit from $200
Average spread from 0.0 pips
Commissions from ‎None
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses None
Customer Support 24/7

 

FXTM

 

Overall Rating

4.6/5

Rated #32 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

CySec, FSCA 

📱 Trading Desk

MetaTrader4, Metatrader 5

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

FXTM, abbreviated from ForexTime, is an award-winning trading website that started its operations in 2011.

It was founded by the experienced trading expert Andrey Dashin. The company has received many different accolades over the past eight years. One of its latest achievements is winning in the category of Best Trading Experience at the 2019 World Finance Awards.

 

Pros and Cons

✔️ PROS ❌ CONS
Superb customer service Inactivity and withdrawal fees
High maximum leverage Limited product portfolio
Great educational tools

 

Features

Feature Information
Regulation CySEC, FCA, FSCA
Minimum deposit from $100
Average spread from 0.9 pips
Commissions from No commission
Deposit/Withdrawal Fees $3
Maximum Leverage 1:500 on average
Bonuses $300 Trading Bonus
Customer Support 24/5

 

 

eToro

 

Overall Rating

4.8/5

Rated #20 of
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

CySec, FCA 

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

47

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

* 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.

 

Overview

eToro offers a premium portfolio management service called CopyPortfolios, which will copy multiple markets based on an investment strategy.

This can help you diversify your portfolio and cut your risks long-term without thinking much about it. And if you don’t want to trade your own currencies and make all the decisions, a Copy Portfolio is an easy way to invest without all the work.

 

Pros and Cons

✔️ PROS

Advanced copy trading software

Low minimum deposit

No deposit fees

❌ CONS

High withdrawal fees

High trading fees for forex

Only one base currency available for accounts

 

Features

Feature Information
Regulation CySEC, FCA, ASIC
Minimum deposit from $50
Average spread from 0.75 pips
Commissions from No commission on stocks and ETFs
Deposit/Withdrawal Fees $5
Maximum Leverage 1:30
Bonuses $50 Welcome Offer And $50 Per Referral
Customer Support 24/5 – multilingual

 

Markets.com

 

Overall Rating

4.7/5

Rated #199 of
Recommended FX Brokers

💰Minimum Deposit

$100

🌐 Regulators

CySec, ASIC, FCA, BVI FSC, FSCA

📱 Trading Desk

MetaTrader 4

MetaTrader 5

Markets.com propietary platform

Crypto

Yes

📈 Total Pairs

67

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Markets.com is a worldwide Forex and CFD trading broker that was founded in 2010.  It offers more than 2000 trading assets and over 2200 markets to trade

As an elective professional trader with a Markets.com professional account, you can access a range of unique advantages, such as increased leverage, preferential trading conditions, and your own dedicated personal account manager.

 

Pros and Cons

✔️ PROS ❌ CONS
Free and fast deposit and withdrawal Limited product portfolio
Easy and fast account opening

 

Features

Feature Information
Regulation CySEC, FCA, ASIC, FSC, FSCA
Minimum deposit from $100
Average spread from 1.9 pips
Commissions from 1%
Deposit/Withdrawal Fees None
Maximum Leverage 1:300
Bonuses $25 No Deposit Bonus
Customer Support 24/5

 

FP Markets

 

Overall Rating

4.7/5

Rated #23 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, CySEC

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

FP Markets is a leading ASIC-regulated STP broker, providing tight spreads on their RAW account, coupled with the choice of MT4, MT5, and IRESS trading platforms.

In addition to the MetaTrader platforms, FP Markets supports a professional software choice called IRESS Trader.

IRESS Trader is an advanced institutional trading platform and FP Markets charges a monthly fee for the platform, but if you are an active trader and generate a commission for the broker by using the platform, the license fee is waived.

 

Pros and Cons

✔️ PROS ❌ CONS
Low forex fees High stock CFD Fees
Streamlined and fast account opening process

Fast processing for deposits and withdrawals

Limited product portfolio

 

Features

Feature Information
Regulation Australian ASIC, Cypriot CySEC, SCB
Minimum deposit from $100
Average spread from 0.5 pips
Commissions from  $55 monthly commission for IRESS Trader users only
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses $30 Welcome Bonus
Customer Support 24/5

 

AvaTrade

 

Overall Rating

4.8/5

Rated #1 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

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

📱 Trading Desk

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

Crypto

Yes

📈 Total Pairs

55+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

AvaTrade has established itself as leading forex and CFD brokerage house and provides multiple platforms for algorithmic and social copy-trading.

This includes a proprietary web platform for ease-of-access to MetaTrader 4 and 5, AvaOptions, AvaTradeGO, ZuluTrade, and DupliTrade.

 

Pros and Cons

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

 

Features

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

 

IQ Option

 

Overall Rating

4.7/5

Rated #247 of
Recommended FX Brokers

💰Minimum Deposit

$10

🌐 Regulators

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