What is a Forex broker?
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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.
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.
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.
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.
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.