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19 Best NFA Regulated Forex Brokers

NFA-regulated-Forex-Brokers

 

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

 

A Quick Overview of our NFA Regulated Forex Brokers:

 

In this article, we will list the Best NFA Forex Brokers regulated Forex trading platforms, brokers and sites that allow traders to trade in Stocks, Shares, Indices, Binary Options, CDFs, ETFs, Forex and cryptocurrencies like Bitcoin and Ethereum.

 

 

The National Futures Association or NFA is the regulatory authority in the USA. Investors who choose to trade through NFA-regulated Forex Brokers will be subject to a number of limitations such as keeping leverage ratios at or below 50:1 on major currency transactions.  In turn, NFA Regulated Forex Brokers will be subject to strict rules and regulations, with high standards to uphold.  NFA Regulated Forex Brokers are also required to keep their investors funds in segregated accounts.

 

Choosing an NFA Regulated Forex Broker holds excellent benefits for Forex Traders, including:

  • The NFA enforces penalties on Brokerage Firms who are found to be involved in any illegal activity, fraud or questionable schemes.
  • All Client funds are held in segregated accounts, separated from the Brokers operating capital.
  • NFA Brokers are known for their transparency and safety measures.

The outstanding quality guidelines and regulatory by-laws put in place by the NFA makes NFA Regulated Forex Brokers a popular choice amongst a large number of investors.

 

Here is an overview of the 19 Best Forex Brokers and Trading Platforms who hold a NFA Regulation:

 

XM Group

 

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

 

XM Group (XM) is a group of regulated online brokers regulated by the Cyprus Securities and Exchange Commission.

 

Pros and Cons

Pros Cons
• Low stock CFD and withdrawal fees • Limited product portfolio
• Easy and fast account opening • Average forex and stock index CFD fees
• Great educational tools • No investor protection for non-EU clients

 

XM offers traders more than 1000 financial instruments to trade on both the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDsForex trading is available on over 55 pairs, including the major USD, GBP, EUR and JPY pairs.  Traders must take note that XM does not offer binary options or futures.

 

Trading Benefits

Trading Features Accounts Offered Funding Methods
Negative Balance Protection Micro Wire Transfer
Low Spreads Standard Credit/Debit
Low Commission XM Zero Neteller
Hedging Allowed UnionPay
Scalping Allowed WebMoney
Qiwi

 

Customer Service is available via live chat, Phone and email support.

 

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

 

Markets.com offers traders access to the world’s most traded CFDs using instruments such as shares, currencies, indices, bonds, ETFs and commoditiesMarkets.com is regulated by the Cyprus Securities and Exchange Commission (CySEC).

 

Pros and Cons 

Pros Cons
Segregates client funds Doesn’t offer VPS
Established in 2008 Inactivity Fee
Regulated by CySEC, Financial Services Board Limited range of instruments
Min. deposit from $100 Not FCA Regulated

 

To open a live account, traders will need to make a minimum deposit of at least $100.  Markets.com offers over 2,146 different instruments to trade, including over 56 currency pairs on MT4 and MT5 forex trading platforms.

 

Trading Benefits

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Mini account Bank Transfer
Low min deposit Standard account PayPal
Guaranteed stop loss Islamic account Payoneer
Offers Negative Balance Protection

 

Customer support is available in over 25 languages, 24/5 via email, telephone and live chat.

 

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

 

OANDA is a globally regulated Forex and CFD broker which also provides corporate Forex solutions and currency conversion. Users have the choice to trade on Forex, Indices, Metals, Commodities and Bond CFDs on the broker’s own proprietary trading platform for desktop, web and mobile, as well as on MetaTrader 4.

 

Pros and Cons

Pros Cons
Accepts U.S. clients No account protection for U.S. clients
Regulated by FCA and NFA No guaranteed stop losses for U.S. or U.K. clients
Well-designed platforms Traders cannot access cryptocurrencies or single-stock CFDs
Superior research offerings A lot of ancillary fees

 

OANDA is the most Regulated Forex Broker and operate across six of the most credible authorities.

 

Trading Benefits

Trading Features Account Offered Funding Methods
Mobile Trading Standard Wire Transfer
Excellent Charting Tools Premium Credit/Debit
Educational Materials PayPal

 

Customer support is available via a FAQ section, a OANDA Virtual Assistant and phone.

 

Forex Time (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

 

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 accounts 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
Min. 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 min deposit Standard account Neteller
Offers Negative Balance Protection Zero spread account
ECN account
Islamic account

 

Customer Service is an available phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.

 

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

 

Interactive Brokers was founded in 1978 and is regulated by multiple financial authorities including the UK’s Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

 

Interactive Brokers offers many account types, which fall into two big groups:

  • accounts for individual traders and investors
  • accounts for institutions

 

Pros and Cons

Pros Cons
Low trading cost Pro users incur an account maintenance fee if multiple trades are not made
Invest globally in a multitude of products via a single account Not everyone is eligible to open an IBKR Lite account
No minimum balance required
Tools to bring your trading to the next level

 

Trading Benefits 

Tradable Securities Accounts Offered Funding Methods
Stocks Lite Bank Transfer
Fractional Shares Pro
Bonds
Mutual Funds
ETFs
Options

 

Traders can choose between two different web trading platforms:  The Client Portal and Webtrader and IBKR Mobile, Interactive Brokers’s mobile trading platform, is available both for iOS and Android.  Users can trade on Stock, Forex, Option and Futures – to name but a few.

Customer Service is available 24/7 via Live Chat, Phone and Email.

 

IQ Option

 

Overall Rating

4.7/5

Rated #247 of
Recommended FX Brokers

💰Minimum Deposit

$10

🌐 Regulators

📱 Trading Desk

Own Platform

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

 

IQ Option is a broker developed under the IQ Option Europe company which was founded in 2013. IQ Option contains a CySEC license Cyprus Securities and Exchange Commission from Cyprus, with permission to provide its financial services within the European Economic Area zone, with several licenses from other EU local jurisdictions. IQ Option offers its clients services in binary options, stocks and shares, currencies, and ETF trading.

 

Pros and Cons 

Pros Cons
Regulated by the Cyprus Securities and Exchange Commission (CySEC)

 

Does not provide MT4 and MT5 trading platforms

 

Easy and convenient method of opening an account

 

Not available for traders in the US, Canada, Australia, Japan, and other countries

 

Wide range of trading instruments on offer

 

 
No deposit and withdrawal fees

 

 

 

IQ Option provides clients with a proprietary platform which is also used for CFDs and for binary options tradingTraders can also install the mobile trading app which is provided free of charge. The mobile trading app has been designed specifically for use on smartphones and mobile devices and allows traders to check their account status, keep updated with all the developments in the market as well as to execute trades.

 

Trading Benefits

Trading Features Accounts Offered Funding Methods
Low min. deposit Standard Alipay
Low Spreads VIP Credit Card
Regulated by CySec Demo MoneyGram
Perfect Money
QIWI
Skrill
Wire Transfer

 

The IQ Options trading platform and website are available to traders in thirteen different languages and allows traders to choose the currency to trade with. The selections of currencies are: GBP, RUB, EUR, IDR, USD, MUR, and Yuan.

Customer service is available via email, live chat or the telephone.

 

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

 

AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa by ASIC, CySEC and FCA.

 

Pros and Cons 

Pros Cons
Used by 200,000+ traders Doesn’t offer VPS
Established in 2006 Not FCA Regulated
Regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI
Min. deposit from $100

 

For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquaint with the popular MT4 forex trading platform.  AvaTrade also offer mobile apps for Android and iOS.

 

Trading benefits

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Low min deposit Mini account PayPal
Standard account Skrill
Islamic account Payoneer
Neteller

 

Customer support is available by email, phone, or live chat.

 

Alpari

 

Overall Rating

4.7/5

Rated #70 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSC 

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

48

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Alpari with its long-standing brand history, numerous offices, range of account types and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms.  Alpari is regulated by the FSC.

 

Pros and Cons

Pros Cons
Transparent Limited Research Tools
Suitable to all trader types
No Deposit Fees

 

Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker.  The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.

 

Trading Benefits

Trading Features Accounts Offered Funding Methods
250 tradable assets Micro Wire Transfer
PAMM Accounts Standard Credit/Debit
ECN E-Wallets
Pro MT4 Cryptocurrency

 

Customer Service is available via live chat, email and phone service.

 

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

 

BDSwiss is a Forex and CFD broker which is regulated by CySEC.

 

Pros and Cons 

Pros Cons
250+ instruments No US clients
Well Regulated No Fixed Spread Accounts
Commission Free Accounts
Free VPS
Daily Trading Alerts

 

BDSwiss offers full demo and Islamic accounts and traders can fund their account via one of multiple choices.

 

Trading Benefits

Trading Features Accounts Offered Funding Methods
Negative Balance Protection Classic Wire Transfer
Multiple Trading Accounts VIP Credit Card
No Deposit or Withdrawal fee Raw Skrill
Neteller

 

BDSwiss offers multilingual customer support 24/5 via Live Chat, Telephone, Email, Call Back, WhatsApp, Telegram and an FAQ section.

 

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

 

FBS is a Forex and CFD broker which is authorised 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 Wire Transfer
Rapid Order Execution Micro Credit/Debit
Standard Neteller
Zero Spread Bitwallet
ECN Perfect Money

 

Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.

 

InstaForex 

 

Overall Rating

4.8/5

Rated #40 of
Recommended FX Brokers

💰Minimum Deposit

USD 1

🌐 Regulators

CySEC, FSC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

4

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️Visit Broker

 

InstaForex is a global online brokerage which is registered and regulated in several offshore jurisdictions around the world, including the EU jurisdiction of Cyprus.

 

Pros and Cons

Pros Cons
No requirements for minimum deposit High commissions on Forex market
Low commissions on CFDs on stocks Low diversity of available markets
Support of Islamic accounts
Wide selection of trading platforms

 

InstaForex allows traders open an account with as little as $1 and Welcome bonuses may be on offer.

 

Trading Benefits

Trading Features Accounts offered Funding Methods
PAMM Accounts Insta.Standard Credit Cards
Market Analysis Insta.Eurica E-Wallets
Cent.Standard Bitcoin
Cent.Eurica Wire Transfer

 

Customer service is available 24 hours a day, with local phone numbers for nine countries, as well as through popular apps like Telegram, WhatsApp, Skype, and others channels.

 

HotForex

 

Overall Rating

4.8/5

Rated #6 of
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FCA, FSA, DFSA, FSCA, CMA

📱 Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

📈 Total Pairs

50+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

 

Pros and Cons

Pros Cons
Segregates client funds Limited range of instruments
Established in 2010 Not FCA Regulated
Regulated by CySEC
Min. deposit from $1

 

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.  The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

 

Trading Benefits

Trading Features: Accounts offered: Funding methods:
Allows scalping Micro account Credit cards
Allows hedging Mini account Bank Transfer
Offers STP Standard account Neteller
Low min deposit Zero spread account
Offers Negative Balance Protection Islamic account

 

Customer support is available via phone and email.

 

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

 

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 Financial Conduct Authority
Min. 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 min deposit ECN account
Islamic account

 

Customer support is available by phone, live chat, or email 24 hours a day during market hours.

 

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.

 

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 Financial Conduct Authority, CySEC, ASIC Limited range of instruments
Min. deposit from $200

 

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 min 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.

 

FXPrimus

 

Overall Rating

4.9/5

Rated #31 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

CySEC, FSCA, VFSC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FXPrimus is an online broker founded in 2009 offering Forex trading, and Social Trading, and is global broker with a head office in Cyprus.

  • Regulated by the Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID)
  • Used by over 10,000 traders

 

Pros and Cons

Pros Cons
Segregates client funds Limited range of instruments
Established in 2009 Not FCA Regulated
Regulated by CySEC, MiFID
Min. deposit from $100

 

FXPrimus has won numerous industry awards over the 11 years a wide variety of instruments and trading currency pairs.  FXPrimus offers over 125 different instruments to trade, including over 43 currency pairs.

 

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 min deposit Standard account Neteller
ECN account
Managed account
Islamic account

 

Customer Support is available via email, webform, phone and live chat.

 

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.

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

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
Min. deposit from $250

 

The country of a traders 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 min 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

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

69

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

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 Financial Conduct Authority Limited range of instruments
Min. 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:

  • Over 100 instruments
  • 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 min 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.

 

EasyMarkets 

 

Overall Rating

4.9/5

Rated #18 of
Recommended FX Brokers

💰Minimum Deposit

$100

🌐 Regulators

CySEC, ASIC, BVI, FSA

📱 Trading Desk

MetaTrader 4, TradingView

Crypto

Yes

📈 Total Pairs

275+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

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
Min. 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 min 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.

 

XTB

 

Overall Rating

4.6/5

Rated #69 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FCA, CySEC, IFSC, KNF

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

48

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XTB

 

 

XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe.  XTB is regulated by the UK Financial Conduct Authority (FRN 522157) and has been listed on the Warsaw Stock Exchange since 2016.

 

XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:

  • xStation5
  • MT4

 

Pros and Cons

Pros Cons
Lowest FX spreads Does not accept U.S. clients
Regulated by FCA (U.K.) Non-FX spread costs are high
Offers protection for client accounts No guaranteed stop loss
Emphasis on customer service No back-testing or automated trading capabilities

 

Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.

 

Trading Benefits

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Offers STP Mini account PayPal
Low min deposit Standard account Skrill
Guaranteed stop loss Islamic account Payoneer
Offers Negative Balance Protection Neteller

 

XTB supports a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

 

 

In Conclusion

A broker which is regulated by the NFA maintains a professional attitude towards its customers and comes highly-recommended by multiple investors due to its excellent level of safety and transparency on offer.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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