10 Best Forex Brokers in 2021

Considering the vast amount of forex brokers in the online trading industry, picking a good forex broker to trade with can be a little hectic.

This is why our team of experts and experienced traders have put together a rank of the top forex brokers around the world, using our ranking methodology to carefully pick the best and most reputable brokers in the online forex trading industry.

Following our in-depth review and ranking process, here are the best forex brokers in the forex trading industry:

  1. IC Markets – Best overall
  2. Saxo Markets – Best for advanced traders
  3. CMC Markets – Most currency Pairs and Cutting edge trading platform
  4. Interactive Brokers – Best For Professionals and Institutions
  5. Pepperstone
  6. FXPro
  7. IG
  8. XM
  9. Capital.com
  10. Admiral Markets
BrokerNameRegulationMinimum DepositLeverageVisit Broker
ICMarkets1. IC MarketsASIC, FSA, CYSEC.$2001:500Website
 Saxo Bank2. Saxo BankFSA, FCA, JFSA, ASIC.$10,0001:50Website
CMC Markets3. CMC MarketsASIC, IIROC, MAS, FCA.$01:500Website
Interactive Brokers 4. Interactive BrokersFSA, IIROC, CFTC, SEC$01:50Website
Pepperstone5. PepperstoneASIC, FCA, DFSA$01:500Website
FXPro6. FXProFCA, CySEC, SFCA, SCB$1001:500Website
IG7. IGCFTC, NFA, FCA$3001:222Website
XM8. XMCySEC, DFSA, ASIC, IFSC, FCA$51:888Website
Capital.com9. Capital.comFCA, CySEC, NBRB $201:500Website
Admirals10. AdmiralsFCA, ASIC, CySEC, EFSA$1001:1000Website

Note: The minimum deposit and leverage might vary, depending on what country you’re from.

IC Markets

IC Markets is one of the largest (by trade volume) and most renowned global Forex CFDs providers in the world with over 180,000+ clients across 140 countries.

IC Markets provides trading solutions suitable for both beginners and professional traders as well as for all trading styles and strategies such as day trading, scalping, and algorithmic trading.

BrokerIC Markets
RegulationASIC, FSA, CYSEC
Broker TypeECN
Trading PlatformsMetaTrader 4, MetaTrader 5, cTrader
Forex Pairs61
Demo AccountYes
Maximum LeverageProfessional – 1:500
Retail – 1:30
Lot SizesMicro, Mini, Standard
Minimum Deposit$200
Account CurrenciesEUR, USD, GBP, AUD, CHF, CAD, JPY
Payment MethodsWire Transfer, Card Payments, Electronic Payments
PROS
  • Hassle-free account registration process.
  • Strong regulatory framework.
  • Suitable for all trading styles and strategies.
  • Suitable for both beginners and professionals forex traders.
  • Impressive educational materials and resources including, video tutorials, trading guides, webinars and podcast.
  • Access to advanced industry-standard trading platforms, such as MetaTrader 4, MetaTrader 5 and cTrader.
  • Simple and transparent fee structure with no hidden charges.
  • Low commissions and ultra tight spreads (as low as 0.0 pips) on major currency pairs.
  • Low latency and super fast order execution speed.
  • Free Low latency collocated VPS available.
  • Fast deposits & fast withdrawals.
  • Friendly customer support service, available 24/ 7.
CONS
  • Does not accept US clients.

IC Markets Review

Saxo Markets

Saxo Markets is a global leading broker established in 1992 by Saxo Bank, as a subsidiary of the Saxo Bank Group. The Firm serves over 660,000+ clients across 120 countries, connecting traders and investors to a wide variety of global markets and investment products from a single trading account.

Saxo Markets provides trading solutions and services that are more suitable for experienced traders, professionals, big investors and institutions. Notwithstanding, the services offered by Saxo Markets are less suitable for smaller investors as there are a couple of hurdles small investors might encounter, such as high minimum deposits, complex fees and pricing structures that are more favourable to high volume traders.

BrokerSaxo Markets
RegulationASIC, FCA, FINMA, DFSA, Central Bank of UAE, DFSA, MAS, SFC, JFSA
Broker TypeSTP, ECN, DMA
Trading PlatformsSaxoTraderGO, SaxoTraderPRO, OpenAPI for Excel, Dynamic Trend, TradingView, MultiCharts, MetaTrader 4 and Updata
Forex Pairs182
Demo AccountYes
Maximum LeverageRetail- 1:30
Professional – 1:200
Lot SizesMini, Micro, Standard
Minimum Deposit$10,000
Account CurrenciesUSD, GBP, EUR, CHF, JPY, NZD, CAD, DKK, SEK, BGN, PLN, SGD, HKD, ILS, ZAR, MXN, AUD, NOK, HUF
Payment MethodsWire Transfer, Card Payments, UnionPay and Skrill.
PROS
  • Quick account setup.
  • Strong regulatory framework.
  • Over 40,000+ instruments across 8 asset classes including currencies, stocks, mutual funds, ETFs, bonds, equities, futures and commodities.
  • Access to a variety of powerful trading tools and terminals including, SaxoTraderGO, SaxoTradePRO, OpenAPI for Excel, Dynamic Trend, TradingView, MultiCharts, MetaTrader 4 and Updata.
  • Impressive educational materials and resources including, video tutorials, trading guides, webinars and podcast.
  • Ultra-competitive spread and commission accross all asset classes
  • Award winning proprietary trading platform.
  • Dedicated customer support teams.
CONS
  • High minimum deposit.
  • US traders not accepted.
  • Not suitable for beginner traders.
  • Complex fees and pricing structure.
VISIT SAXO MARKETS

Saxo Markets Review

CMC Markets

CMC Markets is a globally trusted broker established in 1989. The broker offers CFDs and Spread betting across a variety of global markets including Forex, indices, commodities, shares, ETFs and treasuries, with over 10,000+ instruments to trade.

CMC Markets offers a bunch of great trading features and conditions including advanced proprietary trading platforms, access to industry-standard trading platforms, over 300+ forex pairs to trade, low-cost trading fees and a great customer support service.

BrokerCMC Markets
RegulationASIC, IIROC, MAS, FCA
Broker TypeSTP, ECN
Trading PlatformsNext Generation CFD trading platform, MetaTrader 4
Forex Pairs330+
Demo AccountAvailable
Maximum LeverageRetail – 1:30
Professional – 1:500
Lot SizesMicro, Mini and Standard
Minimum Deposit$0
Account Currencies
Payment MethodsBank Wire Transfer, Credit / Debit Cards.
PROS
  • Regulated under top tier regulatory bodies across multiple jurisdictions, including the FCA, ASIC, IIROC and MAS
  • Over 330+ currency pairs to trade including, major, minor
  • Clients funds are segregated
CONS
  • US Traders not accepted
VISIT CMC MARKETS

CMC Markets Review

Interactive Brokers

BrokerInteractive Brokers
Regulation
Broker Type
Trading Platforms
Forex Pairs
Demo Account
Maximum Leverage
Lot Sizes
Minimum Deposit
Account Currencies
Payment Methods
PROS
CONS

Pepperstone

Pepperstone is a global online broker offering Forex trading, spread betting and CFDs across a range of asset classes such as currencies, 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.

BrokerPepperstone
Established2010
RegulationASIC, FCA, DFSA
Broker TypeMM,
Trading PlatformsMetaTrader 4, MetaTrader 5 and cTrader
Forex Pairs61 Currency Pairs.
Demo AccountAvailable
Maximum LeverageRetail – 1:30
Professional – 1:500
Lot Sizes
Minimum Deposit$0
Payment MethodsCredit/ Debit Cards, Bank Transfer, Electronic Payments
All Markets OfferedForex, Indices, Indices, Shares, Cryptocurrencies.
PROS
CONS

Pepperstone Review

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.

BrokerFXPro
Established2006
RegulationFCA, CYSEC, SFCA and SCB
Broker TypeNDD
Trading PlatformsFXPro Edge, MetaTrader 4, MetaTrader 5 and cTrader
Forex Pairs70 Currency Pairs.
Demo AccountAvailable
Maximum LeverageRetail – 1:30
Professionals – 1:200
Lot SizesMicro, Mini and Standard
Minimum Deposit$100
Payment MethodsBank Transfer, Broker To Broker Transfer,
Credit/ Debit Cards and Electronic Payments.
VISIT FXPro

FXPro Review

XM

XM is a global multi-award-winning broker with over 3.5 million active traders in 190+ countries. XM 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, low trading fees, fast trade execution and a wonderful customer support team.

BrokerXM
RegulationCySEC, DFSA, ASIC, IFSC, FCA,
BaFin, CNMV, MNB, CONSOB, ACPR,
FIN-FSA, KNF, AFM, FI.
Broker TypeMarket Maker
Trading PlatformsNext Generation CFD trading platform,
MetaTrader 4 (MT4)
Forex Pairs57 Currency Pairs (Including major, minor and exotic currency pairs)
Demo AccountAvailable
Maximum LeverageRetail – 1:30
Professional – 1:888
Lot SizesNano, Micro, Mini, Standard
Minimum Deposit$0
Payment MethodsBank Transfer, Card Payments,
Electronic Payments (e-wallets)
VISIT XM

XM Review

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.

BrokerIG
RegulationCFTC, NFA, and FCA
Broker TypeSTP, ECN, DMA
Trading PlatformsProRealTime, L2 Dealer, MetaTrader 4
Forex Pairs81
Demo AccountAvailable
Maximum LeverageRetail – 1:30
Professional – 1:222
Lot Sizes
Minimum Deposit$0
Payment MethodsCard Payments and Bank Wire Transfer.
VISIT IG

IG Review

Capital.com

BrokerCapital.com
Regulation
Broker Type
Trading Platforms
Forex Pairs138 Currency Pairs
Demo Account
Maximum Leverage
Lot Sizes
Minimum Deposit
Account Currencies
Payment Methods
VISIT CAPITAL.COM

Capital.com Review

Admiral Markets

BrokerAdmiral Markets
RegulationFCA, MAS, ASIC, Central Bank of UAE
Broker TypeSTP, ECN,
Trading PlatformsMetatTrader 4, MetaTrader
Forex Pairs50 Currency Pairs.
Demo AccountYes
Maximum Leverage1:1000
Lot SizesMicro, Mini, Standard
Minimum Deposit$100
Account Currencies
Payment Methods
VISIT ADMIRAL MARKETS

Admiral Markets Review