Full Forex Brokers List in 2024
Top-Rated Forex Broker in 2024 - eToro
Best-Rated Forex Broker in 2024:
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eToro - Biggest copy trading community in the world (over 3,000 verified investors with copiers)
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OANDA - Best for trading with advanced technical analysis tools (TradingView charts support)
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IG Markets - Favorable Forex trading conditions (0 fees, avg. EUR/USD spread - 0.8)
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Maunto - Wide range of account types suited for aggressive trading (leverage up to 1:400, stop out 20%)
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Trading.com - Farouble Forex trading conditions (leverage up to 1:50, 70+ currency pairs)
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FOREX.com - Diverse range of tradable assets (80+ currency pairs)
Although Forex trading has been around for decades, recent global trends have made it all the more prominent among investors of all ages. This has led to an increasing number of investment platforms offering Forex trading options.
Choosing a forex broker is not an easy task, which is why Traders Union is here to help you choose the best ones for your needs. On this page, you can compare a full list of top 100 Forex brokers based on various key indicators, including:
Reliability and regulation
Spreads
Minimum deposit
Supported currency pairs
Dozen of additional factors.
You can also use the "Find my broker" tool on the page, which will help you choose the best regulated broker in your country based on your personal criteria.
List of 100 regulated Forex brokers 2024
Broker | Supported currencies | Minimum Deposit | EUR/USD Spread | Regulation | |
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55 |
$50, $100 (for UK clients) |
From 0.1 pips |
CySEC, FCA, ASIC |
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90 |
No |
From 0 p for currency pairs |
FSC (BVI), ASIC, IIROC, FCA, CFTC, NFA |
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60 |
$1 |
From 0.165-0.4 pips on Forex, subject to the client's status |
FCA, BaFin, ASIC, MAS, CySec, FINMA, BMA, CFTC, NFA |
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250 USD |
From 0,9 p |
MISA |
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55 |
from 5 USD |
Average spread 0.6 pips |
FCA, CFTC, NFA |
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80 |
$1000 |
From 0.2 pips |
CIMA, FCA, FSA (Japan), NFA, IIROC, ASIC, CFTC |
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80 |
No |
From 0 pips |
SEC, FINRA, SIPC, FCA, NSE, BSE, SEBI, SEHK, HKFE, IIROC, ASIC, CFTC, NFA |
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$1 |
From USD 0 to 0.03 per $1000 turnover |
US Securities Commission (SEC), SIPS |
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82 |
From $0 (from $2,000 to activate margin trading opportunities) |
from 0.00 points |
FINRA, SIPC, CFTC, NFA |
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No |
No |
Samil Pricewaterhouse Coopers |
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$1 |
From 0.0 pips |
CNMV |
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1 unit of the base currency |
No |
Cseh Nemzeti Bank (ČNB) and Magyar Nemzeti Bank (MNB) |
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$250 |
From 0.03 pips |
FSCA, CySEC |
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$1000 |
Floating from 0.2 pips |
MFSA |
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€1 |
Subject to the instrument; the minimum fee is $7 |
CNMV, FINRA, SIPC |
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None or 100,000 CHF |
Floating from 0 pips |
FINMA |
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€1,000 |
From 0.5 pips |
FCA, Amtsgericht München, CSSF |
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$25 |
Floating from 0 pips |
FSA Seychelles |
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1 unit of the base currency of the account |
No |
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$0 |
From 0 pips |
Top 9 Forex brokers review
Useful Forex Facts & Insights
Top 3 Brokers With TradingView Support
TradingView is a well-known trading platform that supports advanced charting tools. Traders Union has compiled a list of the top 3 brokers that offer trading directly from TradingView charts. This trading platform can help you expand your arsenal for analysis and decision-making in trading.
Broker | TradingView support |
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Warning:
There is a high level of risk involved when trading leveraged products such as Forex/CFDs. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
How do we complete TOP 100 Forex brokers' rating
When it comes to rating the top Forex brokers, there are plenty of things to consider. Here is a list of some of the top variables that enables us to compile this list:
Trust level and regulation
One of the top things to focus on when choosing the top Forex brokers is trust level and regulation. This is because there are some fraudulent Forex brokers on the market, which means investors must take the time to learn more about their chosen platforms before investing. Failing to ensure that users consider a platform trustworthy or that it is regulated may result in falling into scams and other fraudulent activity.
Trading conditions and fees
Another highly important aspect of finding a Forex broker is the trading conditions and fees. Learning about these will allow you to learn how much you may have to pay to conduct trades and under what terms.
Trading platforms
Forex brokers use an array of platforms, and they are not all the same. Finding out which platform(s) are used by your chosen Forex broker will enable you to decide whether the platform works for your investment goals and capabilities.
Extra tools
All brokers offer their own unique tools to help traders. You should choose a broker that offers tools that most closely align with your investment goals.
Education
Lastly, many brokers offer educational tools. However, they are not all created equal. If you are a beginner, you will want to work with brokers offering the most robust educational tools selection.
What is the best Forex broker for beginners?
When choosing the best Forex broker for beginners, you should be searching for brokers with low minimum deposits. You will also want to find out if they offer special accounts for beginners, such as Cent, Micro, or Demo accounts. Lastly, you should find out if they offer passive income options such as copy trading, PAMM/MAM accounts.
Broker | Demo | Cent | Copy Trading | |
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How to choose the best Forex broker for me?
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Focus on regulation and security. This is the most important factor. Only trade with brokers that are regulated by reputable authorities like the FCA in the UK or the CFTC in the US. This ensures your money is protected and that the broker follows fair trading practices.
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Compare costs and spreads. Forex brokers make money through spreads (the difference between the buy and sell price) and commissions. Compare spreads and commission structures of different brokers to find one that suits your trading style. Brokers offering commission-free trades may have wider spreads, so factor in your trading volume.
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Trading platform. Most brokers offer popular forex trading platforms like MetaTrader 4 (MT4). Consider the features that are important to you, such as charting tools, technical indicators, and ease of use. Some brokers offer demo accounts so you can try out the platform before you commit.
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Account features. Look for brokers that offer account types that suit your experience level. Beginners may prefer accounts with lower minimum deposits and educational resources, copy trading etc. More experienced traders may need features like margin accounts and advanced order types.
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Customer support. Reliable and responsive customer support is essential. Check the broker's hours of operation and how you can contact them (phone, email, live chat).
How to compare top Forex brokers in the world
If you want to compare multiple Forex brokers at once, there are a few ways to do so. One of which is by using our free comparison tool. Here is a list of steps to allow you to do just that:
Navigate to the ‘find a broker box’ and type the name of the broker you want to compare into the box.
Next, click the scales next to the right of all the brokers you want to compare.
Next, navigate to the ‘go to compare’ button.
Click the button and wait for the chart to repopulate.
Is Forex trading legit?
Forex trading itself is legal in most countries, though it is lightly regulated compared to other financial markets like stocks or commodities. There are many regulated brokers that allow individuals to trade currencies online or through trading platforms. So Forex trading is accessible for regular investors.
There are some Forex scams and "get rich quick" schemes to avoid. Stick to regulated brokers and be wary of claims that seem too good to be true.
Like any trading, Forex involves risk. The high leverage offered by brokers means potential for large losses if trades go the wrong way. There is no guarantee of profits. Beginners should take time to learn trading strategies before risking real money.
For most traders, Forex is considered a legitimate market to speculate on currency movements. But it requires knowledge, discipline and accepting the risk of losses. With proper preparation, Forex can be an intriguing market to trade in.
How much do Forex traders make?
The nature of Forex earnings is that the income level is not fixed and earnings depend on many factors. However, don’t be discouraged by that statement because you can certainly make good money in the Forex market. Moreover, you can make really good money like the Chinese trader Chen Linkuy, who started with a deposit of $100 and, in just a few weeks, had profited $100,000.
Linkuy obviously used tremendous leverage and clearly violated the rules of money management using extremely high-risk strategies. However, this is not an isolated case, but just one of the few that has been made public. On the Internet, you can find many similar stories about how people earned $1,000, $10,000, and other significant amounts at Forex, starting from scratch. However, Linkuy’s level of income is rarely written about, for the obvious reason that high earners at any activity tend to avoid publicity, and publicity often leads to tax audits.
FAQ
What is the best forex broker in the world?
Given the fickle nature of the Forex market, finding the single best Forex broker in the world can be challenging. This is because success in the Forex market depends largely on the resources offered and how skilled the investors are. Nevertheless, Roboforex is considered one of the best because it’s actually beginner-friendly, has low minimum deposit amounts, has great leverage potential, and more.
What are the most trusted Forex brokers?
The most trusted forex brokers are typically regulated by Tier-1 regulators, such as the FCA in the UK, the CFTC in the US, and ASIC in Australia. These regulators enforce strict rules on brokers, which helps to protect traders' funds and ensure that brokers are operating fairly.
Here are some of the benefits of trading with a broker that is regulated by a Tier-1 regulator:
Client funds are protected: Tier-1 regulators require brokers to hold client funds in segregated accounts, which means that your money is safe even if the broker goes bankrupt.
Brokers are subject to regular audits: Tier-1 regulators conduct regular audits of brokers to ensure that they are complying with the rules.
Brokers must have adequate capital: Tier-1 regulators require brokers to have a certain amount of capital in order to operate, which helps to ensure that they will be able to meet their obligations to their clients.
Which Forex broker is best for beginners?
For beginners, the best Forex broker would be a regulated broker offering a demo account, a wealth of educational materials, copy trading, and cent accounts.
How can I get rich fast in forex?
As with all investment methods, there are no guarantees when trading Forex. So, while some may become highly successful in making these trades, others may fail. Nevertheless, generally speaking, here are the steps to take to become successful quickly while trading Forex:
Find the best Forex trading method for you and stick with it.
Focus on long-term investments that can offer larger gains.
Trade breakouts to gain larger profits in a shorter amount of time.
Take risks—put 10-20% of your equity into your Forex investments.
Don’t cash out too early – Understand that the Forex market is volatile, and you will need to embrace the ups and downs to turn a bigger profit.
Methodology for compiling our ratings of Forex brokers
Traders Union applies a rigorous methodology to evaluate brokers using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under.
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Brokers are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Brokers are assessed based on the variety, quality, and features of platforms offered to clients.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Find out more about the unique broker assessment methodology developed by Traders Union specialists.
Glossary for novice traders
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1
Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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2
Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
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3
CFTC
The CFTC protects the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to fosters open, competitive, and financially sound futures and option markets.
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4
Forex Trading
Forex trading, short for foreign exchange trading, is the practice of buying and selling currencies in the global foreign exchange market with the aim of profiting from fluctuations in exchange rates. Traders speculate on whether one currency will rise or fall in value relative to another currency and make trading decisions accordingly.
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5
CFD
CFD is a contract between an investor/trader and seller that demonstrates that the trader will need to pay the price difference between the current value of the asset and its value at the time of contract to the seller.
Team that worked on the article
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).