If you’re looking to trade the forex market effectively, as well as take some profits out of the markets, then you definitely need a trustworthy and reliable forex broker.
Although, considering the vast amount of brokers out there (quantity and quality-wise), picking a good forex broker to trade with can be really hectic, which is why we and our team of experts have decided to rank the best brokers for you, carefully picking from the most reputable brokers in the online forex trading industry.
Table of Contents
10 Best Forex Brokers in 2021
Following our in-depth review and ranking process, here are the best forex brokers in the forex trading industry:
- IC Markets – Best global forex broker overall.
- CMC
- XM
- SaxoBank – Best forex broker professional traders.
- IG – Best forex broker for US traders.
- Hotforex
- Pepperstone
- XTB
- FX Pro
- FXCM
IC Markets
IC Market was established in 2007 and has rapidly grown to become of the largest true ECN brokers in the world, boasting a record average daily volumes (ADV) of $19.4 billion (in May 2018) and a monthly total volume of US$447 billion.
IC Markets is popular among traders for offering very tight spreads which go as low as 0.0 pips on forex pairs, along with other great trading features including fast order execution, institutional-grade trading platforms, powerful trading terminals, instant deposits & fast withdrawals. IC Markets Review
| Established | 2007 |
| Regulation | ASIC, FSA, CYSEC. |
| Trading Platforms | MetaTrader 4, MetaTrader 5 and cTrader |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | 1:500 |
| Minimum Lot Size | 0.01 |
| Minimum Deposit | $200 |
| Payment Methods | Wire Transfer, Card Payments, Electronic Payments |
| All Markets Offered | Forex, Stocks, Commodities, Indices, Cryptocurrencies, Bonds and Futures. |
CMC
CMC Markets is a globally trusted Forex, spread betting and CFD broker established in 1989.
CMC Markets offers a bunch of great trading features and conditions including advanced proprietary trading platforms, access to industry-standard trading platforms, over 12,000+ instruments to trade from (including forex, indices, commodities and shares), low-cost trading a great customer support service and much more. CMC Markets Review
| Established | 1989 |
| Regulation | ASIC, IIROC, MAS and the FCA |
| Trading Platforms | Next Generation CFD trading platform, MetaTrader 4 (MT4) |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | Retail Traders: 1:30, Professional Traders: 1:500 |
| Minimum Lot Size | 0.01 |
| Minimum Deposit | $0 |
| Payment Methods | Bank Wire Transfer, Credit / Debit Cards. |
| All Markets Offered | Forex, Indices, Commodities, Shares, ETFs, Cryptocurrencies and Treasuries |
XM
XM is a global multi-award-winning broker with over 3.5 million active traders in 190+ countries.
XM is popular among traders for having a variety of options when it comes to the trading services they offer, this makes it a suitable broker for traders of different levels (beginners and professionals), as well as suits different trading styles such as algorithmic trading, scalping, day trading, swing trading and more
The broker offers a variety of asset classes along with a bunch of great trading features such as industry-standard trading platforms (including MT4 and MT5), a range of account types, tight spreads & low commissions, fast trade execution and a wonderful customer support team. XM Review
| Established | 2009 |
| Regulation | CySEC (Cyprus), DFSA (United Arab Emirates), ASIC (Australia), IFSC (Belize), FCA (United Kingdom), BaFin (Germany), CNMV (Spain), MNB (Hungary), CONSOB (Italy), ACPR (France), FIN-FSA (Finland), KNF (Poland), AFM (Netherlands), FI (Sweden). |
| Trading Platforms | Next Generation CFD trading platform, MetaTrader 4 (MT4) |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | Retail Traders: 1:30, Professional Traders: 1:888 |
| Minimum Lot Size | 0.01 |
| Minimum Deposit | $0 |
| Payment Methods | Bank Transfer, Card Payments, Electronic Payments (e-walletsź |
| All Markets Offered | Forex, Stocks, Commodities, Equity Indices, Precious Metals, Energies, Shares. |
Saxo Market
Saxo Market is a globally trusted broker established in 1992 by Saxo Bank. Saxo Market offers over 40,000+ instruments across 8 asset classes, along with a number of great trading features such as quick account setup, dedicated customer support teams, industry-leading prices and professional-grade trading platforms. Saxo Market Review
| Established | 1992 |
| Regulation | FSA (Denmark), FCA (United Kingdom), JFSA (Japan), ASIC (Australia) |
| Trading Platforms | SaxoTraderGO, SaxoTraderPRO, MetaTrader 4, TradingView |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | 1:200 |
| Minimum Lot Size | 0.01 |
| Minimum Deposit | $10,000 – International Traders, £500 – Uk Traders. |
| Payment Methods | Card Payments, Bank Wire Transfers, Local transfers, |
| All Asset Classes | Forex, Stocks, Mutual Funds, ETFs, Bonds, Equities, Futures, Commodities. |
IG
IG was established in 1974 and has maintained its stand as an industry-leading broker with a growing client base of over 230,000+ active traders worldwide.
IG offers spread betting, CFD trading and stockbroking with over 17,000+ instruments to trade from. With IG, traders get access to industry-standard trading platforms, tight spreads, low commissions, low margins, fast order execution, low latency and a helpful customer support team. IG Review
| Established | 1974 |
| Regulation | CFTC (U.S.), NFA (U.S.), and FCA (U.K.). |
| Trading Platforms | ProRealTime, L2 Dealer, MetaTrader 4 |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | Retail & EU Traders – 1:30 US Traders – 1:50 Professional Traders – 1:222 |
| Minimum Trade Size | 0.01 |
| Minimum Deposit | $0 |
| Payment Methods | Card Payments and Bank Wire Transfer. |
| All Markets Offered | Forex, Indices, Shares, Commodities, Futures. |
Hotforex
HotForex, also known as HFMarkets, is an award-winning global Forex and CFD broker trusted by millions around the world. HotForex is popularly known for offering several options of tailored accounts and trading conditions to suit different styles of trading as well as different types of traders. They also offer a bunch of other great trading services which makes them a highly competitive counterpart amongst other industry-standard brokers. HotForex Review
| Established | 2010 |
| Regulation | CySEC (Cyprus), FCA (UK), DFSA (Dubai), FSCA (South Africa), FSA (Seychelles), FSC (Mauritius) |
| Trading Platforms | MetaTrader 4, MetaTrader 5, WebTrader |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | Retail Traders – 1:30 Professional Traders – 1:400. |
| Minimum Trade Size | 0.01 lots |
| Minimum Deposit | $5 |
| Payment Methods | Bank Transfer, Credit/ Debit Card, E-Payments |
| All Markets Offered | Forex, Metals, Energies, Indices, Shares Commodities, Bonds, Stocks, ETF. |
Pepperstone
Pepperstone is a global online broker offering Forex trading, spread betting and CFDs across a range of asset classes such as forex, indices, commodities, shares and cryptocurrencies.
Pepperstone provides clients with an easy registration process along with a bunch of great trading tools and features such as industry-leading trading platforms; low latency and fast order execution and an awarding-winning 24/5 client support team. Pepperstone Review
| Established | 2010 |
| Regulation | ASIC (Australia), FCA (United Kingdom), DFSA (Dubai) |
| Trading Platforms | MT4, MT5 and cTrader |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | Professional Traders – 1:500, Retail Traders – 1:30 |
| Minimum Deposit | $0 |
| Payment Methods | Credit/ Debit Cards, Bank Transfer, Electronic Payments |
| All Markets Offered | Forex, Indices, Indices, Shares, Cryptocurrencies. |
XTB
XTB (X-Trade) is one of the largest FX, CFD & stock exchange-listed brokers in the world, providing access to hundreds of global markets and serving over 275,000 retail clients across the world.
XTB has been around for over 15 years and has continued to provide clients with an outstanding brokerage experience which includes low-cost trading, ultra-tight spreads, clients account protection, wonderful customer support service and more.
| Established | 2002 |
| Regulation | FCA, CySEC, PFSA, IFSC, PFSA |
| Trading Platforms | xStation 5, MetaTrader 4, xStation Mobile |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | 1:500 UK Traders – 1:30 |
| Minimum Deposit | £250/ €250/ $250 |
| Payment Methods | Bank Transfers, Credit Card and E-Wallets |
| All Markets Offered | Forex, Indices, Commodities, Stocks CFDs, ETFs CFDs, Crypto. |
FX Pro
FXPro is a global leading Forex and CFD broker which serves over 1.8 million traders in 170+ countries worldwide.
The broker was established in 2006 and has since then gained a tremendous amount of recognition and reputation which is as a result of the substantial trading services they offer, these include true No Dealing Desk Execution broker, advanced trading systems, ultra-low latency, ultra-fast order execution time, advanced online trading tools, great customer support service, variety of top-grade trading platforms and lots more. FXPro Review
| Established | 2006 |
| Regulation | FCA (United Kingdom), cySEC (Europe) SFCA (South Africa) and SCB (Bahamas) |
| Trading Platforms | FXPro Edge, MetaTrader4, MetaTrader5 and cTrader |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | EU & UK Traders – 1:30 International Traders – 1:200 |
| Minimum Deposit | $100 |
| Payment Methods | Bank Transfer, Broker To Broker Transfer, Credit/ Debit Cards and Electronic Payments. |
| All Markets Offered | Forex, futures, indices, shares, metals and energies. |
FXCM
FXCM is a global leading provider of online forex trading, CFD trading, spread betting and other trading related services, with over 20+ years of experience.
With their tremendous recognition and great reputation in the trading industry since they were established, FXCM has clearly done their best to continuously provide their traders with a great trading environment and services as they offer advanced trading tools, great trading conditions, vital educational materials and a very efficient customer support service. Read Full Review
| Established | 1999 |
| Regulation | |
| Trading Platforms | Trading Station, MetaTrader 4, Ninja Trader, ZuluTrade, TradingView, Capitalise AI |
| Demo Account | Available OPEN DEMO ACCOUNT |
| Maximum Leverage | |
| Minimum Deposit | |
| Payment Methods | |
| All Markets Offered |