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27 Best Forex Brokers

Best forex brokers

 

Finding the list of the Best Forex Brokers locally and worldwide can be a difficult process, especially finding a list of trustworthy regulated forex brokers who allow traders to invest in their currency.

 

 

 

10 Best Forex Brokers in 2022

 

 

The forex brokers on this list are some of the most reputable and trusted brokers who offer trade-in forex and several other financial instruments.

 

Let’s get started with the full breakdown of the 27 Best Forex Brokers.

 

 

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

As an award-winning Market Maker and STP broker which has regulation and authorization in multiple jurisdictions, AvaTrade is one of the most popular and reputable brokers in the industry.

Traders have a choice in more than 250 financial instruments which can be traded through a variety of powerful, dynamic trading platforms. Besides, traders are also offered competitive trading conditions that cater to both beginners and professionals.

 

Pros and Cons

✔️PROS ❌CONS
Well-regulated US Clients not allowed
Award-winning broker Variable spreads not offered
Fast trade execution Only one account type for either retail or professionals
Competitive trading conditions
Social trading offered

 

Features

Feature Information
Regulation ASIC, BVI, CBI, FFAJ, FSA, FSCA
Minimum deposit from $100
Average spread from 0.9 pips
Commissions from $0
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses Yes
Customer Support 24/5

 

 

Exness

 

Overall Rating

4.9/5

Rated #2 of 
Recommended FX Brokers

💰Minimum Deposit

$10

💰Sign-up bonus

No

🌐 Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

97

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker Website

 

Overview

Exness is a well-regulated and reputable broker that has been in operation since 2008. Exness offers traders from around the world competitive trading conditions and comprehensive trading solutions as well as services.

With Exness, traders of all experience levels are welcome in registering an account to gain access to a variety of global financial markets. Exness offers traders the use of the popular MetaTrader 4 and MetaTrader 5 through which trades can be executed seamlessly.

 

Pros and Cons

✔️PROS ❌CONS
Strictly regulated US Clients not allowed
The high maximum leverage offered Accounts are not multi-currency
Powerful trading platforms supported
Variety of financial instruments

 

Features

Feature Information
Regulation CySEC, FCA, SFSA
Minimum deposit from $1
Average spread from 0.0 pips
Commissions from From $3.5 per lot per side
Deposit/Withdrawal Fees Yes
Maximum Leverage 1:2000
Bonuses None
Customer Support 24/5 – multilingual

 

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 has been in operation since 2010 and is a reputable ECN and STP broker which is based in the UK and Australia, with strict regulation through ASIC, FCA, DFSA, and SCB in offering traders from around the world competitive trading conditions.

 

When trading with Pepperstone, traders have access to innovative trading technology, low-cost spreads, low latency, and high execution speeds, providing traders with a dynamic and unique trading experience.

 

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

 

Pros and Cons

✔️PROS ❌CONS
Well-regulated No US Clients
Award-winning customer support No fixed spread accounts
Competitive trading conditions
Social trading offered
Hedging and scalping allowed

 

Features

Feature Information
Regulation ASIC, FCA, CySEC, BaFin, DFSA, SCB, CMA
Minimum deposit from $10
Average spread from 0 pip
Commissions from USD $3.5
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses No
Customer Support 24/5

 

Tickmill

 

Overall Rating

4.7/5

Rated #3 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC, FCA, FSA, FSCA, Labuan FSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

62

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Established in 2015, Tickmill is a well-established ECN and STP broker that offers traders a dynamic and unique trading experience. Traders are offered some of the best pricing and trade execution in addition to having a choice between 80 different financial instruments.

 

Tickmill also offers traders commission-free trading, a variety of trading tools, and a variety of payment methods that allow for quick deposits as well as withdrawals.

 

Pros and Cons

✔️PROS ❌CONS
Strictly regulated by multiple regulatory entities US Clients not allowed
Commission-free trading offered Fixed spreads not offered
Variety of trading tools offered Cryptocurrency trading not supported
Variety of financial instruments
Powerful trading platforms supported

 

Features

Feature Information
Regulation FCA, CySEC, FSA
Minimum deposit from $100
Average spread from 0.0 pips
Commissions from From $1
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses Yes
Customer Support 24/5

 

BDSwiss

 

Overall Rating

4.7/5

Rated #5 of
Recommended FX Brokers

💰Minimum Deposit

$100

💰Sign-up

50% of Initial Deposit

🌐 Regulators

FSC, FSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

83

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

In operations since 2012, and as an ECN and STP broker, BDSwiss is an award-winning broker who offers traders access to global markets. Through its dynamic offering, traders have access to more than 250 financial instruments that can be traded through powerful trading platforms.

 

In addition to competitive trading conditions, traders also have access to commission-free trading, advanced trading tools, and more.

 

Pros and Cons

✔️PROS ❌CONS
More than 250 financial instruments US Clients not allowed
Strict regulation Fixed spreads not offered
Commission-free accounts offered Restricted leverage for EU-clients
Advanced trading tools offered
Competitive trading conditions

 

Features

Feature Information
Regulation CySEC, FSC, NFA
Minimum deposit from $200
Average spread from 1.1 pips
Commissions from $4
Deposit/Withdrawal Fees Some fees may apply
Maximum Leverage 1:400
Bonuses None
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

Established in 2006, eToro is a reputable Market Maker broker that offers a variety of financial instruments. eToro is also the leading social trading platform that caters to traders from around the globe by offering commission-free trading, no additional mark-up on the spread, and more.

 

eToro offers the use of its own proprietary trading platform and traders also have access to a vast online trading community, ample social trading opportunities, and competitive trading conditions.

 

Pros and Cons

✔️PROS ❌CONS
Well-regulated No US Clients
Commission-free trading offered Fixed spread accounts not provided
A large online trading community MetaTrader 4 and 5 not offered
Leading social trading platform

 

Features

Feature Information
Regulation ASIC, FCA, CySEC
Minimum deposit from $200
Average spread from 3 pips on EUR/USD
Commissions from $0
Deposit/Withdrawal Fees Yes
Maximum Leverage 1:400
Bonuses None
Customer Support 24/6

 

Axi

 

Overall Rating

4.6/5

Rated #70 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

ASIC, DFSA, FCA, FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

66

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Axi

 

Overview

Axi has been in operation since 2007 with strict regulation and authorization through reputable entities such as ASIC and FCA. Axi offers traders competitive trading conditions, low trading, and non-trading fees, multilingual 24/7 customer support, and more.

 

Besides, when trading with Axi, traders have a large variety of financial instruments that can be traded through advanced and powerful trading platforms.

 

Pros and Cons

✔️PROS ❌CONS
Strict regulation US Clients not allowed
Accounts are commission-free Fixed spreads not offered
MetaTrader 4 NextGen provided EU-clients restricted on leverage offered
Access provided to AutoChartist and PsyQuation

 

Features

Feature Information
Regulation ASIC, FCA
Minimum deposit from $0
Average spread from 0.0 pips
Commissions from $7 per round turn
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses None
Customer Support 24/5 – multilingual

 

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

📱 Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform

Crypto

Yes

📈 Total Pairs

250

☪️ Islamic Account

No

📊 Trading Fees

Low

Welcome bonus

$140 (Find out More)

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

FBS

 

Overview

In operation since 2009, FBS is a well-regulated and reputable ECN and STP broker which is headquartered in Belize. There are traders from 190 countries who have registered a trading account with FBS, making use of its competitive trading conditions to trade more than 75 financial instruments in global markets. You can read our full FBS review here

 

Pros and Cons

✔️PROS ❌CONS
Well-regulated Several countries restricted including the US, UK, Japan, Israel, and others
Ultra-low minimum deposit requirement Limited tradable assets
Social trading supported High spreads on some accounts
Multiple account types offered Limited trading platform and tools offered
Competitive trading conditions

 

Features

Feature Information
Regulation IFSC, CySEC
Minimum deposit from $1
Average spread from 0.0 pips
Commissions from $6
Deposit/Withdrawal Fees Yes
Maximum Leverage 1:3000
Bonuses Yes
Customer Support 24/7

 

XM

 

Overall Rating

4.5/5

Rated #68 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

IFSC, CySec, ASIC

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

55

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XM

 

Overview

XM has been in operation since 2009 and is a popular and well-regulated ECN and STP broker that has a rich history of providing traders with some of the best trading solutions. When trading with XM, traders have access to a variety of financial instruments spread over several asset classes.

There are more than 2.5 million traders who have already registered an account with XM and who are making use of the competitive trading conditions offered, powerful trading platforms, and numerous other dynamic features.

 

Pros and Cons

✔️PROS ❌CONS
Well-regulated US Clients not allowed
Negative balance protection offered Fixed spreads not offered
Competitive trading conditions

 

Features

Feature Information
Regulation FCA
Minimum deposit from $5
Average spread from 0.0 pips
Commissions from $1
Deposit/Withdrawal Fees None
Maximum Leverage 1:888
Bonuses Yes
Customer Support 24/5

 

RoboForex

 

Overall Rating

4.7/5

Rated #57 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

IFSC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

32

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

RoboForex is a reputable and well-established Market Maker, ECN, and STP broker based in Belize that offers traders more than 9,400 tradable financial instruments spread across several asset classes.

 

With RoboForex, traders can trade forex, commodities, cryptocurrency, CFDs, metals, energies, ETFs, and more. Traders also have access to powerful trading platforms through which trades can be executed seamlessly.

 

Pros and Cons

✔️PROS ❌CONS
Strictly regulated No US Clients
Negative balance protection provided Fixed spread accounts not offered
Flexible account types offered
Multiple trading platforms supported

 

Features

Feature Information
Regulation IFSC
Minimum deposit from $10
Average spread from 0.0 pips
Commissions from $0.0045
Deposit/Withdrawal Fees Yes
Maximum Leverage 1:2000
Bonuses Yes
Customer Support 24/7

 

Forex.com

 

Overall Rating

4.7/5

Rated #231 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, CySec 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Established in 2001, Forex.com is a popular online trading broker that offers more than 200,000 traders across the globe comprehensive trading solutions and services.

 

As one of the leading online brokers, Forex.com is backed by the trust of numerous traders in offering fast and reliable execution speeds, low trading costs, and a verified execution scorecard.

 

Pros and Cons

✔️PROS ❌CONS
Strictly Regulated Limited payment methods
US Clients welcome Fixed spreads not offered
Advanced, powerful trading platforms
Advanced trading tools offered
Execution scorecard

 

Features

Feature Information
Regulation ASIC, CFTC, FCA, FSA, IIROC, JFSA, NFA
Minimum deposit from $50
Average spread from $0.11 on XAU/USD
Commissions from $0 – $5
Deposit/Withdrawal Fees No
Maximum Leverage 1:50
Bonuses Yes – Active Trader
Customer Support 24/5

 

Blackbull Markets

 

Overall Rating

4.7/5

Rated #12 of
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

FMA, FSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Tradeable assets

23 000

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Established in 2014, Blackbull Markets is an STP, ECN, and DMA broker that makes use of an NDD model to provide traders from around the world with some of the best trading conditions.

 

Traders also have access to a variety of instruments including forex, commodities, indices, energies, and CFDs. The trading conditions that traders have access to are both comprehensive and competitive, catering to a variety of traders despite their trading skills, knowledge, and experience.

 

Pros and Cons

✔️PROS ❌CONS
Strictly regulated US Clients not allowed
Commission-free trading offered Fixed spread accounts not provided
Access to Prime liquidity providers Limited trading tools offered
Cryptocurrency trading not offered

 

Features

Feature Information
Regulation FSPR
Minimum deposit from $200
Average spread from 0.1 pips
Commissions from From $6
Deposit/Withdrawal Fees Yes
Maximum Leverage 1:500
Bonuses None
Customer Support 24/5

 

IC Markets

 

Overall Rating

4.7/5

Rated #37 of
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

ASIC, CySEC, FSA, SCB

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Established in 2007, IC Markets is an Australia and Seychelles-based online broker that is also one of the largest true ECN brokers in the world. Traders are offered more than 230 financial instruments spread across numerous asset classes and financial markets.

 

IC Markets also offers traders powerful and popular trading platforms while offering favorable and competitive trading conditions consisting of low spreads, fast trade executions, low commissions, and more.

 

Pros and Cons

✔️PROS ❌CONS
Strictly regulated US Clients not allowed
Low trading and non-trading fees Fixed spreads not offered
Tight and competitive spreads
Hedging and scalping allowed
Social trading supported

 

Features

Feature Information
Regulation ASIC
Minimum deposit from $200
Average spread from 0.0 pips
Commissions from $3
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses None
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

Established in 2005, FP Markets is a popular and well-regulated Australian-based broker that has an impressive award-winning history in providing comprehensive trading solutions and services.

 

FP Markets offers traders more than 10,000 financial instruments that can be traded along with transparent fee schedules, fast execution speeds, and competitive conditions that suit all kinds of traders, from beginners to professionals.

 

Pros and Cons

✔️PROS ❌CONS
Well-regulated No US Clients
Variety of financial instruments No fixed spread accounts
Commission-free trading offered
ECN-Pricing model

 

Features

Feature Information
Regulation ASIC, CySEC, SVGFSA
Minimum deposit from AU$100
Average spread from 0.0 pips
Commissions from US$3
Deposit/Withdrawal Fees Yes
Maximum Leverage 1:500
Bonuses None
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