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:
- IC Markets – Best overall
- Saxo Markets – Best for advanced traders
- CMC Markets – Most currency Pairs and Cutting edge trading platform
- Interactive Brokers – Best For Professionals and Institutions
- Pepperstone –
- FXPro –
- IG –
- XM –
- Capital.com –
- Admiral Markets –
| Broker | Name | Regulation | Minimum Deposit | Leverage | Visit Broker |
|---|---|---|---|---|---|
 | 1. IC Markets | ASIC, FSA, CYSEC. | $200 | 1:500 | Website |
 | 2. Saxo Bank | FSA, FCA, JFSA, ASIC. | $10,000 | 1:50 | Website |
 | 3. CMC Markets | ASIC, IIROC, MAS, FCA. | $0 | 1:500 | Website |
 | 4. Interactive Brokers | FSA, IIROC, CFTC, SEC | $0 | 1:50 | Website |
 | 5. Pepperstone | ASIC, FCA, DFSA | $0 | 1:500 | Website |
 | 6. FXPro | FCA, CySEC, SFCA, SCB | $100 | 1:500 | Website |
 | 7. IG | CFTC, NFA, FCA | $300 | 1:222 | Website |
 | 8. XM | CySEC, DFSA, ASIC, IFSC, FCA | $5 | 1:888 | Website |
 | 9. Capital.com | FCA, CySEC, NBRB | $20 | 1:500 | Website |
 | 10. Admirals | FCA, ASIC, CySEC, EFSA | $100 | 1:1000 | Website |
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.
| Broker | IC Markets |
|---|---|
| Regulation | ASIC, FSA, CYSEC |
| Broker Type | ECN |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader |
| Forex Pairs | 61 |
| Demo Account | Yes |
| Maximum Leverage | Professional – 1:500 Retail – 1:30 |
| Lot Sizes | Micro, Mini, Standard |
| Minimum Deposit | $200 |
| Account Currencies | EUR, USD, GBP, AUD, CHF, CAD, JPY |
| Payment Methods | Wire 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.
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.
| Broker | Saxo Markets |
|---|---|
| Regulation | ASIC, FCA, FINMA, DFSA, Central Bank of UAE, DFSA, MAS, SFC, JFSA |
| Broker Type | STP, ECN, DMA |
| Trading Platforms | SaxoTraderGO, SaxoTraderPRO, OpenAPI for Excel, Dynamic Trend, TradingView, MultiCharts, MetaTrader 4 and Updata |
| Forex Pairs | 182 |
| Demo Account | Yes |
| Maximum Leverage | Retail- 1:30 Professional – 1:200 |
| Lot Sizes | Mini, Micro, Standard |
| Minimum Deposit | $10,000 |
| Account Currencies | USD, GBP, EUR, CHF, JPY, NZD, CAD, DKK, SEK, BGN, PLN, SGD, HKD, ILS, ZAR, MXN, AUD, NOK, HUF |
| Payment Methods | Wire 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.
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.
| Broker | CMC Markets |
|---|---|
| Regulation | ASIC, IIROC, MAS, FCA |
| Broker Type | STP, ECN |
| Trading Platforms | Next Generation CFD trading platform, MetaTrader 4 |
| Forex Pairs | 330+ |
| Demo Account | Available |
| Maximum Leverage | Retail – 1:30 Professional – 1:500 |
| Lot Sizes | Micro, Mini and Standard |
| Minimum Deposit | $0 |
| Account Currencies | |
| Payment Methods | Bank 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
Interactive Brokers
| Broker | Interactive 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.
| Broker | Pepperstone |
|---|---|
| Established | 2010 |
| Regulation | ASIC, FCA, DFSA |
| Broker Type | MM, |
| Trading Platforms | MetaTrader 4, MetaTrader 5 and cTrader |
| Forex Pairs | 61 Currency Pairs. |
| Demo Account | Available |
| Maximum Leverage | Retail – 1:30 Professional – 1:500 |
| Lot Sizes | |
| Minimum Deposit | $0 |
| Payment Methods | Credit/ Debit Cards, Bank Transfer, Electronic Payments |
| All Markets Offered | Forex, Indices, Indices, Shares, Cryptocurrencies. |
PROS
CONS
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.
| Broker | FXPro |
|---|---|
| Established | 2006 |
| Regulation | FCA, CYSEC, SFCA and SCB |
| Broker Type | NDD |
| Trading Platforms | FXPro Edge, MetaTrader 4, MetaTrader 5 and cTrader |
| Forex Pairs | 70 Currency Pairs. |
| Demo Account | Available |
| Maximum Leverage | Retail – 1:30 Professionals – 1:200 |
| Lot Sizes | Micro, Mini and Standard |
| Minimum Deposit | $100 |
| Payment Methods | Bank Transfer, Broker To Broker Transfer, Credit/ Debit Cards and Electronic Payments. |
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.
| Broker | XM |
|---|---|
| Regulation | CySEC, DFSA, ASIC, IFSC, FCA, BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA, KNF, AFM, FI. |
| Broker Type | Market Maker |
| Trading Platforms | Next Generation CFD trading platform, MetaTrader 4 (MT4) |
| Forex Pairs | 57 Currency Pairs (Including major, minor and exotic currency pairs) |
| Demo Account | Available |
| Maximum Leverage | Retail – 1:30 Professional – 1:888 |
| Lot Sizes | Nano, Micro, Mini, Standard |
| Minimum Deposit | $0 |
| Payment Methods | Bank Transfer, Card Payments, Electronic Payments (e-wallets) |
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.
| Broker | IG |
|---|---|
| Regulation | CFTC, NFA, and FCA |
| Broker Type | STP, ECN, DMA |
| Trading Platforms | ProRealTime, L2 Dealer, MetaTrader 4 |
| Forex Pairs | 81 |
| Demo Account | Available |
| Maximum Leverage | Retail – 1:30 Professional – 1:222 |
| Lot Sizes | |
| Minimum Deposit | $0 |
| Payment Methods | Card Payments and Bank Wire Transfer. |
Capital.com
| Broker | Capital.com |
|---|---|
| Regulation | |
| Broker Type | |
| Trading Platforms | |
| Forex Pairs | 138 Currency Pairs |
| Demo Account | |
| Maximum Leverage | |
| Lot Sizes | |
| Minimum Deposit | |
| Account Currencies | |
| Payment Methods |
Capital.com Review
Admiral Markets
| Broker | Admiral Markets |
|---|---|
| Regulation | FCA, MAS, ASIC, Central Bank of UAE |
| Broker Type | STP, ECN, |
| Trading Platforms | MetatTrader 4, MetaTrader |
| Forex Pairs | 50 Currency Pairs. |
| Demo Account | Yes |
| Maximum Leverage | 1:1000 |
| Lot Sizes | Micro, Mini, Standard |
| Minimum Deposit | $100 |
| Account Currencies | |
| Payment Methods |
Admiral Markets Review