Regulated Forex Brokers for 2024

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A trader's success can depend largely on choosing the right Forex broker because of the terms of trade and the trading platform’s functional capabilities. That is why it is important to start with a regulated forex broker who offers the most options and the best conditions that are well-suited for your personal trading needs.

What is a Forex broker?

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Below you will find all the information.

A Forex broker is an organization that has access to liquidity providers and executes the orders of its clients — the traders — in good faith. Simply put, this is an intermediary between you and international banks. As a private individual, you cannot work directly with liquidity providers, so all trading in the foreign exchange market must go through brokers.


After reviewing our Forex brokers, you’ll see that brokers differ in dozens of parameters, such as minimum deposit requirements, leverage, spread size, trading platforms, bonuses, etc. One key factor is whether a broker is licensed and regulated.

Top 5 Regulated Forex Brokers

One primary criteria investors need to focus on is the level of financial security a broker offers. Luckily, checking the credibility of Forex brokers isn't tricky. There are regulatory agencies worldwide that rate brokers that are trustworthy or those that are known for fraud. Make sure that the broker you consider keeps your money safe.

Company European license Another jurisdiction
Admiral Markets UK Financial Regulatory Authority (FCA, No. 595450) Australian Securities and Investments Commission (ASIC, No. 410681 AFSL)
XM Group Cyprus Securities and Exchange Commission (CySEC, No.120/10) Belize International Financial Services Commission (IFSC, No.000261/106);
Australian Securities and Exchange Commission (ASIC, No.443670)
FxPro UK Financial Regulatory Authority (FCA, No.509956);
Cyprus Securities and Exchange Commission (CySEC, No.078/07)
Financial Supervision Service of South Africa (FSCA, No. 45052);
Bahamas Securities Commission (SCB. No.SIA-F184)
AvaTrade is regulated by the Central Bank of Ireland (No.C53877);
Financial Services Commission BVO (BVIFSC, No. SIBA/L/13/1049)
Australian Securities and Investments Commission (ASIC, No.406648);
The Financial Services Agency of Japan (FSA, No. 1574); Financial Supervision Service of South Africa (FSCA, No. 45984);
FXTM Cyprus Securities and Exchange Commission (CySEC, No.185/12);
UK Financial Regulatory Authority (FCA, No. 600475)
Financial Services Commission of the Republic of Mauritius (FSC, No. C113012295);
Financial Supervision Service of South Africa (FSCA, No. 46614)

Complete Forex Brokers for 2024

Are you searching for a reliable Forex trading company? We suggest you study the complete dossier on the broker you are considering as a partner. In the profile of each broker from our list, you can read the latest customers’ reviews on trading with a company, which will help you to determine whether it is worth trusting your money to this broker.


The Traders Union is proudly the number one independent expert on the Forex market for analyzing brokers because we have access to the best data - that is, our traders’ experience. In addition to our team of expert analysts, we have access to every broker’s internal data through hundreds of thousands of traders participating in the Traders Union.

10TradeFX


Cashback rate is 80% of a part of the spread

10TradeFx is owned and operated by Holiway Global Ltd that is duly authorized and regulated by a highly reliable regulator for non-bank financial services – the Seychelles Financial Services Authority, reg. no. SD040. 10TradeFx offers all the required tools to ensure an effective trading environment, in particular, multiple well-designed products and services.

4XC


Cashback rate is 80% of a part of the spread

4XC is a reliable broker with the FSC license MC03/2018 . With 4XC, customers can trade on MT4, MT5, mobile apps, and Webtrader and get access to trade CFDs on Forex, Precious Metals, Stocks, Indices, Oil, and Cryptocurrencies. 4XC offers live trading or trust management options. The company is loyal to any kind of trading strategies creating a friendly trading environment for every customer.

A3Trading


Cashback rate is 80% of a part of the spread

A3Trading is a Forex broker for traders from India that offers currencies, CFDs, options, and ETFs in the OTC (over-the-counter) market. It is regulated by the Seychelles Financial Services Authority (FSA) with license number SD012. The company's clients can trade more than 2,000 financial instruments with leverage of up to 1:200. A3Trading has developed a proprietary platform with advanced analytic capabilities, trading signals, and features for managing accounts and money transactions.

AAATrade


Cashback rate is 80% of a part of the spread

AAATrade is duly authorized and regulated by the CySec (CIF license number 244/14 ). The company’s business activities are governed by MiFID II (Markets in Financial Instruments Directive). Furthermore, AAATrade is regulated by some of the most reliable EU regulatory bodies, for instance, the Federal Financial Supervisory Authority (BaFin) with ref. No. 45052), the Financial Conduct Authority (FCA) with ref. No. 659844, and the Comisión Nacional del Mercado de Valores (CNMV) with reg. No. 3846.

More about the broker Open real account
Your capital is at risk. 
72.58% of retail investor accounts lose money when trading CFDs with this provider.

AAFX


Cashback rate is 80% of a part of the spread

AAFXTRADING is an STP and ECN broker, which was founded in 2014. The broker is headquartered in Hong Kong and has offices in Australia and in Saint Vincent and the Grenadines. The company offers its clients access to trading 7 classes of trading instruments, including currency pairs and contracts for difference (CFDs) on stocks, equity indices, precious metals, energies, commodities and cryptocurrencies. AAFX Trading Company Ltd is a registered online trading broker with the company number 22916 IBC , based in Saint Vincent and the Grenadines. Read more about AAFX Available Countries.

AC Capital Market


Cashback rate is 80% of a part of the spread

Clients of AC Capital Market have access to CFDs on currency pairs, indices, commodities, and metals. This broker offers a free Demo account and two real accounts, Standard and ECN. Depending on the account, the spread is either standard or raw. There are no trading commissions on the Standard account, while the ECN account has a commission of $6 per lot. The minimum deposit is $500, and the maximum leverage is 1:800. Clients trade through the MetaTrader 5 and cTrader trading platforms, and they are available for both desktop and mobile devices. AC Capital Market also provides its copy trading service for passive income. The website includes an educational section, and numerous tools for technical and fundamental analysis, including comprehensive solutions like Autochartist. This broker also features Market News and forecasts. Client support operates 24/5.

AccentForex


Cashback rate is 80% of a part of the spread

AccentForex is a broker that uses No Dealing Desk (NDD) technology and offers access to the metals, stocks, and futures markets through MetaTrader 4. The company has been operating since 2010, it is licensed by the Vanuatu Financial Services Commission (VFSC), and provides protection of client deposits and personal data. AccentForex supports many payment systems, it broadcasts news and analytics on the Forex market, and offers cent and STP accounts with low spreads.

Accuindex


Cashback rate is 80% of a part of the spread

Accuindex is a new yet strong participant in the Forex and CFD markets. Accuindex is dedicated to giving access to a transparent and powerful trading environment. Among its core principles, Accuindex sees professionalism, innovation, flexibility, and fair business. Here traders can find just the right solutions and services to effectively meet their requirements along with ultra-low spreads, multiple trading tools, and zero commissions. As a fast-growing business, Accuindex leads the charge towards the future of trading.

Activotrade


Cashback rate is 80% of a part of the spread

Activotrade has its head office in Barcelona, Spain. It offers trading over 30,000 financial instruments on one account. Available assets include over 22,000 stocks of the U.S. and Spain, over 600 ETFs, bonds of 26 countries, futures, options, and more than 9,000 CFDs and Forex assets. The broker’s activity has been regulated by CNMV (Comisión Nacional del Mercado de Valores) since 2010. Its client funds are protected by the FOGAIN (Fondo General de Garantía de Inversiones) scheme. The company provides its services to traders worldwide, except for the U.S. and countries from the OFAC (Office of Foreign Assets Control) sanctions list.

ActivTrades


Cashback rate is 80% of a part of the spread

The ActivTrades broker has been operating since 2001. The company allows clients to trade on the Forex market, CFDs on stocks, ETFs, and other instruments. In total, the broker has six types of assets available. ActivTrades is headquartered in London, with additional offices in Milan, Sofia, and Nassau. The company operates under two licenses, the UK (FCA, 434413), the Bahamas (SCB), the CSSF (Luxembourg) and CONSOB (Italy). During its tenure, the broker has received 26 awards.

More about the broker Open real account
Your capital is at risk. 
76% of retail investor accounts lose money when trading CFDs with this provider.

ACY Securities


Cashback rate is 80% of a part of the spread

ACY Securities is authorized and fully regulated by two relevant trustworthy regulatory bodies, in particular ASIC (reg. no. AFSL: 403863) and VFSC (reg. no. VFSC 012868). The above regulators ensure the company fully meets applicable rules and standards. ACY Securities is a broker of choice for multiple Australian investors.

Admirals


Cashback rate is 80% of a part of the spread

Admirals was founded in 2001. In more than 20 years of operation, a regional Estonian broker has grown into an international financial group of companies providing access to over-the-counter markets in more than 130 countries, as well as to exchange-traded stock instruments. Following the 2021 rebranding, Admirals became Admirals. The updated platform received new integrated risk management solutions.

The Admirals group of companies comprises:

  • Admirals AU Pty Ltd.

  • Admirals UK Ltd.

  • Admirals Cyprus Ltd.

  • Admirals AS Jordan Ltd.

Regulators of the Admirals group of companies include FCA (UK, 595450), CySEC (Cyprus, 201/13), ASIC (Australia, 410681), JSC (Jordan, 57026), and CIPC (South Africa, 2019 / 620981 / 07).


AdroFX


Cashback rate is 80% of a part of the spread

AdroFx offers contracts for difference (CFDs) on currency pairs, stocks, indices, cryptocurrencies, and metals. Traders can open accounts on MetaTrader 4 or Allpips platforms. There are 8 account types, with a demo option for each. The minimum deposit is $25, leverage is up to 1:500, and trading volume is from 0.01 lots and from 0.0001 lots for Micro. Spreads are floating from 0.4 pips. Also, there are neither trading fees nor withdrawal fees, if the withdrawal amount meets or exceeds the minimum amount. The basic currencies are the USD, EUR, and GBP. BTC and ETH cryptocurrencies are available for Allpips. AdroFx provides loyal starting conditions due to special bonuses and promotions. There is a referral program and an integrated copy trading service.

ADSS


Cashback rate is 80% of a part of the spread

ADS Securities (ADSS, ADS) is one of the top brokers and has been providing services since 2010. The company offers trading in six asset classes such as currency pairs, CFDs on stock indices, commodities, bonds, cryptocurrencies, and stocks of companies from around the world. ADS Securities initially provided services on financial markets trading to clients from MENA (the Middle East and North Africa) countries. More than 20,000 active clients use the broker's services. The main office of the company is in Abu Dhabi.

Advanced Markets


Cashback rate is 80% of a part of the spread

Advanced Markets was incorporated in 2006. It uses DMA (Direct Market Access) technology to provide direct access to the inter-market market without the participation of dealers. Traders can trade Forex, cryptocurrencies, and CFDs on metals, commodities, and stock indices. Various account types on MetaTrader 5, including Islamic, are available. Advanced Markets offers its own copy trading platform where novice traders can earn passive income by copying the trades of professionals.

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International and Local Regulators of Forex Brokers

This page provides a list of active regulated Forex brokers who are associated with the Traders Union. All of them are licensed companies.

A regulator is an independent financial authority that issues a broker a license for professional activity and regulates the work of the Forex broker, ensuring its legitimacy and compliance with all applicable regulations. There are two types of regulators: international and local.

Международные

International

Локальные

Local

Local regulators license brokers in their state or country. In one respect it is worse to work with a local regulator because it applies narrow restrictions related only to local legislation.


At the same time, although international regulators are often ranked higher in the world market, only a local broker in its country can objectively provide legal protection to a trader.


A license protects against fraud because, to obtain a license, a Forex broker has to comply with specific regulations, such as:

  • submit a legally defined set of documents to the regulatory body

  • make and maintain a significant cash deposit to the account of a special fund

  • confirm with documents that there is a certain amount of money in the broker's account

  • create the official website of the company, with the complete and current information about its Terms and Conditions

Also, the Forex broker must conduct activities and provide services in strict compliance with the requirements of the regulator. Violations may lead to a suspension of the broker’s license, or even to the closure of a brokerage company. So, it is unprofitable and too risky to conduct a Forex business fraudulently. Moreover, a broker’s license number can be easily checked using the database of the regulator’s website. This thwarts players from using fake license numbers these days.

Key factors in choosing a reliable Forex broker

How long a Forex broker has been in business is an important factor. Fraudulent brokers usually don’t last very long before they’re discovered. We don’t recommend young companies because, despite any other advantages, they often lack sufficient experience to resolve difficult situations.

  • 1
    Year it was founded.
    The year itself is beside the point, but the age of the Forex broker is important. We don’t recommend young companies because, despite any other advantages, they often lack sufficient experience to resolve difficult situations.
  • 2
    Regulator.
    We've already talked about local and global regulators. The main thing is that the broker has a regulator, and each regulator offers its own advantages.
  • 3
    Traded assets.
    We are talking about the types of trades that traders can make. These are currency pairs (euro/dollar), CFD, and cross-rates, etc. The more trading instruments a Forex broker offers, the greater the development potential of a trader.
  • 4
    Minimum deposit.
    Most brokers have a minimum deposit of $1-10, although some require significantly large amounts. This parameter determines only the minimum budget a trader can start his trading activity with.
  • 5
    Leverage.
    Leverage is an extremely important parameter, as it allows a trader to trade using funds borrowed from their broker. The greater the leverage, the higher the potential profits, but also the higher risk level.
  • 6
    Spread.
    This is the difference between the best price at which you can buy a position (ask) and the best price at which it can be sold (bid). The spread is important because Forex brokers, as a rule, obtain payment for their services by taking part of the bid and ask spread on each transaction.
  • 7
    Trading platform.
    This is the software used for trading in the international currency market. You just need to explore in advance the capabilities and interface of different platforms and decide which one suits you best.

The age of broker company

Almost all the Forex brokers dominating in our rating have been operating in the Forex market for over 10 years. This evidences its high reliability. Generally, it is believed that if a company has "lived" for at least 4-5 years and has been developing steadily, then everything is alright with its business practices. The longevity of the brokerage company, in combination with the license, demonstrates that you can trust it and that it has experience solving complex problems.



Of course, there are other indicators. For example, IC Markets has been at the top of all ratings for several years, although the company is much younger than many other leading players. FxPro has been operating for more than 20 years. It is one of the oldest players in the Forex market, with a good reputation, but this company often takes a lower place in the ratings.

Reputation and customer reviews

One of the most important parameters is the reputation of the Forex broker as determined by reviews by traders over the years.



In our Forex brokers ratings for 2024, reputation is the main criterion because in other respects the characteristics of the top companies are very similar.



You need to evaluate such reviews within independent platforms, for example, on the Traders Union website - Because on its official website, a broker will never flaunt negative reviews (if any).

Trading terms of the broker

Do not conflate trading terms with trading tools. Trading terms is a complex definition combining all the principal characteristics of a broker and how it operates. Think of it as the broker’s Terms and Conditions.



The trading conditions of a Forex broker include the minimum deposit, leverage, spread, the ability to open a demo account, and whether the broker offers a cent account. Such accounts are especially convenient for novice traders. For example, a cent account allows you to try out a strategy with real money, but without the risk of large financial losses.



Also, many Forex brokers from our list offer deposit bonuses, loyalty bonuses, etc. There are other trading terms: accuracy of quotes, order execution mode, order volume, step, and others. It seems that there are a lot of characteristics, but they are all obvious and easily perceived when you start comparing brokers.

License of the international organisations or European regulator availability

Most customers focus on international organizations as regulators and many players from our ratings have such a license. This is a list of some of the international regulatory agencies:

международные организации
  • Belize International Financial Services Commission (IFSC);

  • Cyprus Securities and Exchange Commission (CySEC);

  • Mauritius Financial Services Commission (FSC);

  • UK Financial Regulatory Authority (FCA);

  • South Africa Financial Services Authority (FCSA);

  • Bahamas Securities Commission (SCB).

Pay attention! Pay attention!

One more important point that many people forget about when choosing a Forex broker is the relevance of information about it. After all, Forex brokers do not mark time, they are constantly developing and sometimes changing their trading terms and even jurisdictions. That is why you need to have access to the latest data, and we are happy to provide it for you on our website.

Principal functions and responsibilities of Forex brokers from directory

Principal functions and responsibilities of Forex brokers from directory

The procedure to trade on the Forex exchange is as follows: First, you create an order; next, the broker redirects it to the quote provider; then it goes to the liquidity provider; and finally it proceeds onto the interbank market. The Interbank market returns the results of the order to the broker,; and the broker delivers them to you, while taking a commission (direct or via the spread) in case of a successful order. Also, the broker transfers current quotes between the Interbank market and the trader.

Information

A Forex broker is not just an intermediary with complicated destinations. It is a legal entity, a professional player of the Forex exchange, which provides the trader with a guarantee that his orders will get to the interbank market. A broker guarantees to the Interbank market that orders are genuine, received from real persons. Moreover, since the regulated Forex brokers are licensed, they also determine the legality of all transactions.

The principal function of the Forex broker

The principal function of the Forex broker is to send the traders’ orders to the Interbank market. A related task is to help the trader make money, because the greater the profit of the trader, the greater the profit is for the broker via his percentage from each transaction.

That is why the Forex brokers from our directory provide their clients with not only platforms and terminals for trading, but also leverage and bonuses. Also, brokers provide traders with up-to-date market analytics, tips, and various analytical and forecasting materials. He doesn’t do that out of kindness, but because it is beneficial for the broker to help you become a successful trader.

The broker's tasks include:
Executing trades in the Forex market while acting as an attorney/commission agent of his client (the trader)
Providing the client with detailed information on each transaction
Maintaining all financial documentation and reporting, including tax aspects
Covering operations with securities in the framework of ensuring legislatively established transparency of its activities;
Predicting the success or failure of the customer's instructions

How to Distinguish a Reliable Regulated Forex Broker from a Fraudster

Unfortunately, fraud is still flourishing in the Forex market, even though the field is expertly regulated and there are fewer opportunities for fraudsters. Fraudulent brokers are often called Forex Scammers because such companies do not deal honestly with traders. For example, a fraudulent broker may refuse to return a clients’ deposited money.

Information

Forex scammers encourage or trick a trader to trade with other traders and/or only with their platform. It is obvious that, unlike a real licensed and regulated Forex broker, it is profitable for a Forex scammer if the broker wins. This is because its earnings are not based on a percentage of your transactions, but on every deposited dollar.

Even when working with a trustworthy broker, only about 25% of traders eventually achieve consistent profitability. However, if a trader is dealing with forex-scammers, then the percentage drops to zero. It is impossible to win with a scammer. The table below shows the main differences between reliable regulated forex brokers and fraudsters.

  • Reliable Forex broker patterns Reliable Forex broker patterns
     Broker-fraud (forex-scammers) patterns Broker-fraud (forex-scammers) patterns
  • Acting under a regulator whose license number is registered in the regulator database

    No license information or the information is false

  • Indicates current quotes of the international market

    If you compare the numbers, you see the differences between the scammer’s numbers and the Interbank quotes

  • Offers to work on official trading platforms (e.g., MT4 and MT5)

    Forces you to work through its own platforms, which can contain spyware

  • Offers you a large number of trading tools, for example, 20–40 currency pairs

    Can offer only a very few trading tools

  • Offers only standard terms (minimum deposit $1–10, leverage up to 1:1,000, etc.)

    Promotes unrealistic, overly beneficial terms (e.g., leverage of 1:10,000 or colossal no deposit bonuses).

  • The official site was created years before or in the year of licensing

    When checking through a special service, it is revealed that the site was created after the specified licensing period

  • Reviews by other traders are real, as evidenced by their ability to be found on independent websites

    The reviews are self-made and, as a result, they are 95-100% positive and can only be found on the scammer’s website; on independent websites, reviews reveal that the scammer is a fraud

How to Choose a Forex Brokers: Expert’s Opinion

The best broker can be chosen based on a consolidated Forex brokers’ ratings. Such a list should contain up-to-date information about trading terms and broker’s tools, and which are recognized as the top ones, based on trader reviews. This approach excludes subjective assessment and enables you to effectively compare Forex brokers from a directory by basic features significant for the trader. And for sure, this is the best defense against fraudulent schemes.

Anton Kharitonov

Anton Kharitonov

Traders Union Analyst

FAQ

1

Why do I need a Forex broker? Can I trade on my own?

Стрелка

Unfortunately, you cannot trade on your own. According to international law, only a specialized organization licensed by one of the competent regulators can become a participant in the Interbank foreign exchange market.

2

How to distinguish a reliable Forex broker from a fraudster?

Стрелка

Fraudulent traders do not have an official regulator’s license (the license number may be verified on the website of the regulator). Fraudsters have few trading tools and unrealistic terms; their websites were created only recently; and there are few, if any, positive reviews on independent broker review sites.

3

How to compare the Forex brokers from a directory and choose the best one?

Стрелка

The best way is to use our Forex Brokers List 2024, because it shows the principal information on top brokers leading the ratings, as based on traders’ reviews. Through a simple comparison, you can make an objective decision as to who will be the best partner for you to work with.

4

Is it better to work with a broker directly or are there other options?

Стрелка

There are other options. You can register with a broker not directly but through the Traders Union association. In terms of trading, nothing will change for you in this case, but you will get additional financial bonuses, the possibility of additional earnings, relevant analytics, and legal support.