Forex Brokers

Are you looking for a better place to open your trades? Whether you're a beginner or experienced trader, our reviews and broker listings can help you find the best platforms to trade with.

We only list brokers that are trusted, well regulated and offer competitive spreads, bonuses and trading conditions.

 

The Best Forex Brokers + Trading Platforms

Rating Bonus Description Leverage Regulation Visit
5
Verification Bonus
$50
+40% Deposit Bonus
  • Generous Cashback Rewards for every trade
  • Leverage the wisdom of the crowds to inform your positions
  • Fast, simple signup

1:400

CySec

Claim Bonus
Review
4.5
No deposit
£20
+ Up to £6000 on deposits
  • No commissions and low spreads
  • Advanced trading tools
  • Minimal account fees

1:294

FCA, +

Claim Bonus
Review
4.5
Welcome Bonus
$25
+50% Deposit Bonus
  • Award winning social trading platform
  • Follow other traders and copy their trades to profit
  • Access over 100 instruments

200:1

CySec

Claim Bonus
Review
4.5
Up to
15%
Deposit Bonus
  • The leading Social Trading platform with 4.5m traders
  • Follow other traders or be a leader and earn
  • Personal service and VIP perks

400:1

NFA, +

Claim Bonus
Review
4.5
  • Choice of four professional trading platforms
  • Trusted & Secure: FCA authorised and regulated
  • Choice of Forex, CFDs, Spread Betting and Binary Options

1:200

FCA

Claim Bonus
Review
4.5
Spread Betting
50%
1st month commission bonus
  • Low cost trading with tight, fixed spreads
  • Loyalty rewards: Earn cashback as you trade
  • Choose Forex, CFDs or spread betting

1:200

FCA

Claim Bonus
Review
3.5
Up to
50%
Deposit Bonus
  • Trusted, regulated broker with 10 yrs experience
  • Multi award winning company
  • Segregated accounts with leading banks

400:1

+

Claim Bonus
Review
4
Cash Bonus
$50
+100% Deposit Bonus
  • Cutting edge next gen trading platform
  • Secure deposits
  • Fast withdrawals with no hidden fees

1:400

Cysec +

Claim Bonus
Review
4


  • Social Trading, Spread Betting and CFDs
  • Great statistics on traders to follow
  • Authorised by the Financial Conduct Authority (FCA)

200:1

FCA

Claim Bonus
Review
4
No deposit
$123
+100% on every deposit
  • Split second execution
  • No requotes
  • Range of accounts

1000:1

IFSC

Claim Bonus
Review
3.5
No Deposit Up To
$100
+55% Deposit Bonus
  • 'Asia's top broker'
  • Wide choice of leverage options

1000:1

RAFMM +

Claim Bonus
Review
3.5


  • Ultra tight spreads
  • Slick web trading platform
  • Low minimum deposit

200:1

FSCL

Claim Bonus
Review
3.5
Sharing Bonus
100%
  • Global operations with support in 45 languages
  • Simple account funding with no fees
  • Low spreads and instant execution

500:1

CySEC +

Claim Bonus
Review
3.5
Up to
50%
Deposit Bonus
  • Instant fund withdrawals - no commissions
  • Tight spreads from 0.1 points
  • Unlimited leverage

2000:1

FDR ( +

Claim Bonus
Review
3.5
Sign Up
£25
No Deposit Bonus
  • Tight spreads without commissions
  • Advanced charting tools

200:1

CySec +

Claim Bonus
Review
3.5
Sign Up Bonus
$25
+50% Deposit Bonus
  • Free Guaranteed Stop Loss
  • Segregated funds at top tier banks
  • Fixed spreads & negative balance protection

400:1

ASIC +

Claim Bonus
Review
3.5
No deposit
£50
+10% deposit bonus
  • World class trading platform
  • Expert market analysis
  • FCA Regulated and traded on the LSE

~250:1

FSA

Claim Bonus
Review
3
Super Charged
100%
Deposit Bonus
  • 8 Trading Platforms
  • Spreads from 0.1 Pips
  • $0 fees on deposits

1000:1

FSC +

Claim Bonus
Review
3
Up to
100%
Deposit Bonus + Cashback
  • Trusted by 100,000s of traders
  • Fully licensed in the EU by CySec
  • Tight spreads and fast withdrawals

500:1

FSC +

Claim Bonus
Review
3
No Deposit
£25
+Deposit Bonus
  • Free forex signals + market research
  • Online education and webinars
  • Fee free withdrawals and deposits

888:1

CySEC +

Claim Bonus
Review
3
Cashback Up To
$5
Rebate Per Lot
  • Loyalty cashback on every trade
  • Tight spreads from 0.1 pips
  • Free deposits & fast withdrawals

1000:1

CySEC +

Claim Bonus
Review
3
Up to
50%
Deposit Bonus
  • Floating spreads from 0.2 pips
  • Ultra fast ECN execution

500:1

FSA

Claim Bonus
Review
2.5

500:1

FSC

Claim Bonus
Review
0
Up to
50%
Deposit Bonus
  • 0.0 pip spread pro accounts
  • Instant deposit

500:1

FSP +

Claim Bonus
Review

Top tips for choosing a forex broker

  1. See where they are regulated. The UK's FCA and Australia's CFTC offer good protection
  2. Make sure their commissions or spreads are low
  3. Check for hidden fees on withdrawals etc
  4. Check if they offer a good web trading platform or mobile app
  5. Look for a generous deposit bonus

Regulation in the forex market

In the US, a reputable forex broker will be a member of the National Futures Association and will be registered with the U. S. Commodity Futures Trading Commission as a Futures Commission Merchant and Retail Foreign Exchange Dealer.

A broker that is a member of the National Futures Association and subject to CFTC regulations will state this and its NFA member number on its website, typically in the "about us" section and on each web page.

In the UK, brokers are regulated by the Financial Conduct Authority (FCA). In other countries, there is a specific regulator responsible for forex brokers. Any platform should have a legal indication of being regulated by such an authority, in the interest of protecting your deposit.

  • The offer of each broker may differ in terms of leverage and margin.

Forex brokers will offer a variety of leverage amounts depending on the broker, such as 50:1 or 200:1. The ability to select the leverage a trader desires enable better control of risk.

  • Different brokers may also offer different commissions and spreads.

A broker that uses commissions may charge a specified percentage of the spread, the difference between the bid and ask price of the forex pair.

However, most brokers advertise that they charge no commissions, and instead make their money with wider spreads. The wider the spread, then, the more difficult it can be to make a profit.

Popular trading pairs, such as the EUR/USD and GBP/USD will typically have tighter spreads than the more thinly-traded pairs. A trader should compare spreads on the pairs the trader prefers to trade from broker to broker.

  • Different brokers also offer different terms for deposits and withdrawals.

Each forex broker has specific account withdrawal and funding policies. Brokers may allow account holders to fund accounts online with a credit card, via ACH payment or via PayPal, or with a wire transfer, bank check or business or personal check. Withdrawals can typically be made by check or by wire transfer. The broker may charge a fee for either service. 

The offer of currency pairs can also vary from broker to broker. Many brokers offer only the majors, and then a few minor pairs. There are, however, a great deal of less-traded pairs that merit attention, and it may be worth finding a broker who offers a great variety.

Ease of use of the trading platform is another important offer from a broker. The platform should be easy to use, visually pleasing, and have all the tools that the trader likes to use.

The trader should have no difficulty working with the platform so that there are no mistakes when trading.

One other factor that may affect your choice of a broker is customer service.

This can vary wildly from one broker to another. Trading forex is a 24-hour activity, so your broker should certainly offer full-time customer service. There should also be rapid intervention if you have a problem making a withdrawal of funds – one typical problem with forex platforms is that it can awkward trying to get your profits out.

Your platform should have a consistent withdrawal policy and, if something goes wrong, customer service should intervene without delay or any issues.

Similarly, if there is a trading problem – that is, if the trading software malfunctions – your customer service should unwind the trade for you without any questions.

Can you trust user reviews of forex brokers?

We have debated adding a review section to each of our broker pages, but in researching other forex site a trend is clear: many bad experiences of trading with a particular company come down to naivety or inexperience with trading markets. It is easy for people who have been sold a 'make money online' dream to feel scammed if they very quickly lose their capital - but is this the fault of the trader, the broker or the website or mailing list who sold them on the dream to begin with?

Likewise, due to the vast sums moving through the financial markets each day, it is not hard to find suspect reviews, either absurdly positive ratings that suggest they were written by a member of staff from a small time broker, or aggressively negative posts that appear to be an attempt by unscrupulous brokers to smear their competitors.

In short, it's a mess. So what is a trader to do when evaluating a platform?

In our view one of the best steps you can take is to choose a broker that is regulated by a organisation that actually has teeth. While the UK's old regulator, the FSA, used to take a lax approach to regulation, in recent years they have taken a particularly hard line with brokers. This may mean a more laborious sign up process, as they must now meet stringent money laundering requirements - but in turn it means they, and the partners that advertise them, are strictly limited in the claims they can make so you know you're not being oversold. They must also meet much tighter licensing and accounting procedures so you know your money is safe.

Use our broker comparison list and make your own opinions

To choose between the regulated brokers, we suggest taking a good look at the spreads they offer and the quality of their trading software. Sign up for a demo account or take a no-deposit deal and test the waters - can you see yourself using this platform every day? Is it responsive to your trades, or do you witness slippage in placing or closing your positions?

Compare the pros and cons of each trading platform, and make an informed choice as to whether a better platform is worth paying higher fees for - or indeed, if a simplified interface or features such as social trading are worth paying a premium for. We only list forex brokers we feel meet an exacting criteria, but your priorities may differ - make sure to explore each broker in full rather than opting for the company with the biggest welcome bonus.

 

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Featured Brokers

 

Risk Warning

 

Your capital is at risk. Trading in Forex and Contracts for Difference (CFDs) is highly speculative and involves a significant risk of loss.  The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This website is provided for informational purposes only and in no way constitutes financial advice. A featured listing does not constitute a recommendation or endorsement.

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