Forex Brokers List Complete Forex Broker Directory year

The search for financial opportunity amidst enforced lockdowns and limited choices of income generation threw desperate people into the forex market. Brokers all over the world noticed and began to flood the internet with campaigns designed to get as many clients as they could. However, this also led to the emergence of various untested and unproven brokerages, desperate to cash in on the situation without necessarily offering value to the consumers of their forex broker listing products. Yes, you can trade in the over the counter (OTC) forex market with major financial institutions using credit lines if you are a high net worth individual or corporation. If you’re a retail trader with a modest amount of risk capital to use as margin, you’ll need an online forex broker to trade currency pairs through. Interactive Brokers is well known for its low costs and powerful trading platforms preferred by active and professional traders.

1. In addition to its world-class social trading network, this broker has excellent educational resources for forex beginners.
2. OANDA offers forex traders two account types, both with advantages based on your trading experience and skill level.
3. CMC Markets has a wide range of platforms for you to choose from, including their next-generation platform and MetaTrader 4.
4. Interactive Brokers is a Nasdaq-listed company with over 2 million clients.

BDSwiss offers Multilingual Support and a Local Presence plus falls under the regulation of the FSC and FSA. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.

We also think CMC Markets is useful for experienced traders, with discounts for active trading, a huge range of products and advanced trading tools. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). IG offers a wide range of asset classes beyond forex trading, and consistently ranks at the top of nearly all of the categories we factor into our forex broker reviews. Read our full-length review of IG to learn why we consider IG to be the top choice for U.S. forex traders. Yes, forex trading is legal in the U.S. and regulated by the Commodity Futures Trading Commission (CFTC).

How to trade forex in India

To trade Eightcap’s full range of products, however, you must use MetaTrader 5. You can also fund your account using Tether (USDT) or BitCoin (BTC) cryptocurrency, giving Eightcap a point of difference as the top crypto broker. If, like us, you find the MetaTrader 4 user interface (UI) a bit dated, then you will appreciate the more modern UI OANDA Trade has to offer.

FP Markets

IG’s award-winning offering delivers a wide range of currency pairs, tradeable symbols (including forex options), and complex order types for advanced trading strategies. IG also caters extremely well to beginner forex traders and delivers a rich educational experience for investors who are new to forex trading. Brokerage companies are scattered all over the world and have many differences in trading conditions, products and services. Certain brokers work as Market Makers and have fixed spreads, others provide STP or ECN accounts with direct market access and offer a much larger selection of underlying assets for trading.

What are the most trusted Forex brokers?

FP Markets’ RAW account had some of the tightest spreads we measured, averaging 0.22 pips for the top 5 most traded currency pairs. The industry average was 0.45 pips for the RAW/ECN accounts we tested. For the Standard account, the broker had an average of 1.30 pips vs the industry average of 1.52 pips for the top 5 most traded currency pairs. When selecting your forex broker, you should consider trading platforms and tools, the number of currency pairs offered, customer service and, of course, trading costs. Plus500 is a derivatives broker based in Europe that offers forex trading (and more) for a host of traders, especially the most advanced traders or those who prefer to trade on mobile. The platform has all the information you need on the assets in which you choose to invest, and you can start buying into the foreign currency market if you’ve always planned to add currency pairs to your portfolio.

It has been prepared after due consideration of all the factors mentioned above. Here you can find both highly regulated brokers, unrestricted offshore brokers, and of course EU/UK/AU brokers with their own offshore divisions. Feel free to read our forex broker reviews and make an informed choice based on the contents of this website.

We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. Saxo Bank offers the most tradeable CFDs in the industry, with a staggering 60,000+ tradeable symbols available. CFDs, or “contracts for difference,” enable traders to speculate whether the price of a stock, forex pair, market index, or commodity will go up or down without taking ownership of the underlying asset. If you’d like to learn more about how CFDs work (and to see our picks for the best CFD trading platforms), check out our full-length guide to the Best CFD Brokers and Trading Platforms.

- Most Currency Pairs To Trade

IB particularly caters to both professional and institutional traders with a huge range of asset classes and derivatives as well as its own advanced forex trading platforms. Mobile forex trading is more popular than ever, and many of the best international forex brokers offer multiple mobile apps and well-designed mobile trading platforms. Check out my guide to mobile forex trading to see my picks for the best mobile apps. When it comes to U.S.-regulated forex brokers, the best mobile trading app in 2023 is offered by IG. IG’s mobile app also features the most advanced charting I’ve ever used on a mobile device. As one of the major U.K.-based forex brokers, LCG offers a wide range of asset classes and a seamless trading experience.

Ally is a good choice for traders just starting out, and it offers 50 currency pairs and the brokers’ easy-to-use charting software, including a mobile app, or you can go with MetaTrader. In Canada, very few brokers can match up to the industry experience OANDA has gained over the last 25 years. Pioneering the technology to make trading accessible to retail traders has allowed OANDA to provide a cost-effective trading account with great customer service.

Additionally, Pepperstone is one of the Best MT4/MT5 brokers with NAS100. I go over everything you need to know to start out as a forex trader; you’ll learn about forex and currency trading, leverage in the forex market, how to calculate pips, and more. CMC Market’s Next Generation platform comes with a massive selection of nearly 10,000 tradeable instruments. It delivers a terrific user experience, as well as advanced tools, comprehensive market research, and an excellent mobile app. Hands down, the CMC Markets Next Generation trading platform is a market leader that will impress even the pickiest of traders. The new Dynamic Trading tool allows you to place multiple trades simultaneously, which was a nice innovation by CMC Markets this year.

JustMarkets is an international firm that accepts clients from different countries across the globe, including South Africa. Just Markets offers access to a multitude of accounts, including Swap-Free and Demo Options. Traders have a choice between two of the biggest trading platforms, MT4 and MT5. At ForexBrokers.com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers.

Tools & Features

Low spread costs, an emphasis on customer service and education, actionable research, and functional user interfaces make this broker well-suited to compete in the online forex broker market. Forex.com also gives traders access to more than 80 currency pairs, and its success with clients has the broker declaring that it’s the No. 1 forex broker in the U.S., in terms of assets held with the broker. You’ll get access to the broker’s own trading platform in web and mobile versions, or use MetaTrader platforms if you prefer. The best forex trading app available to forex traders in Canada is CMC Markets’ mobile app.