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Choosing the best Forex broker that will help you become successful in the Forex market is a challenging task.

To choose a reliable Forex broker, you need to spend hours and even days analyzing several companies and reading reviews about their work. But Surprise! We at Traders Union have done the work for you.

Our site is a service that simplifies the process of selecting a broker, thereby saving you time and frustration, and reducing the analysis of the Forex market to just a few minutes of studying our special ratings list.

If you are not very finicky, then choose immediately from among our top-most winners.

The top brokers on the Traders Union list have a great rapport with their clients and abide by strict standards to fulfill their trading obligations. Click on the "Profile" button of any broker on our list and find detailed information about it. The information is objective because we check everything against 100 criteria. You can read dozens of reviews by traders of that broker.

The experts at Traders Union have been analyzing brokers in the Forex market for over 10 years while collecting all their respective reviews and posting them on our website. Thus, on the Traders Union website, you can find at once all the reviews about any Forex broker in one place.

The Traders Union regularly updates information on the hierarchy of Forex brokers in the market.

Important!

The rating of Forex brokers was created also based on the members of the Union trade characteristics, as the Traders Union has access to them. No one else in the Forex market has such an opportunity to analyze data from hundreds of thousands of traders simultaneously. This is precisely why the Traders Union ratings of Forex brokers is the best and most objective ratings system of Forex brokers today.

  • Position
  • Overall score
  • Broker
  • Min. deposit
  • Deposit bonus
  • Open an account
  • Add to comparison

How to analyze company data compiled by Traders Union

Find a list of the most reliable and best brokers in the Forex market in the table below. The market leaders are at the top because they have the highest average aggregate score. Then brokers are ranked by popularity.

You can click on the "Profile and reviews" button and read about each broker in detail in the popup window. You can immediately open a real account or try trading for free on a demo account on the broker's website.

How to choose the best broker for you? Top Forex brokers list

Pay attention to the following company parameters to choose the best broker for your needs:

  • 1

    The broker's footprint in the Forex market.

    The longer a brokerage company has been in the market, the more reviews there will be from its clients. Moreover, the older (i.e., more established) a company is the more it tends to value its reputation, which means it is more likely to fulfill its obligations.
  • 2

    Licenses.

    Only reliable brokers are licensed and they are strictly regulated by independent governmental monitors to protect traders and their investments. Maintaining a license is expensive, so not all companies can afford it.
  • 3

    Country of registration of the broker; representative offices and physical offices.

    Representative offices and broker offices are important components of selecting a reliable broker. A branching network of representative offices characterizes the company’s rate and commitment to the brokerage profession, although more and more brokers prefer online relationships with their clients.
  • 4

    Forex broker trading conditions.

    Each brokerage company offers its clients a variety of competitive conditions for trading, such as: minimum spreads, a large number of trading instruments, additional services, and bonuses. The combination of benefits offered is an important factor in the selection process.
  • 5

    Customer support and service quality.

    How quickly a broker’s customer support responds to a customer is important when assessing a broker's reliability. Top companies always respond quickly to every client's request and try to resolve the issue in the shortest possible time using the utmost courtesy.
  • 6

    Reviews of traders about the Forex broker.

    Clients who already work with one or more Forex brokers can reveal a lot about the broker’s reliability and professionalism. We study — and verify — the reviews of each company before posting our ratings.
  • 7

    The company’s position in the Traders Union’s Forex ratings.

    This criterion is important when making your selection because the position of the broker in the Traders Union’s Forex broker rating reflects the final audit based on 100+ objective characteristics as compared to its competitors.

Change of Positions in the Top 10 Forex Brokers in the World in 2020

Average score of the Top 5 Forex brokers on the Traders Union ratings list

9.5/10
FxPro
9.4/10
Admiral Markets UK
9.3/10
XM Group
9.2/10
AvaTrade
9.1/10
FXTM
Information

We have made thematic ratings of Forex brokers against several parameters to ease your burden of selecting the best broker for your needs. There are separate Top Brokers categories customized for novice traders, investors, and brokers with specialized licenses, etc.

Top 10 Forex brokers for beginner traders

We appreciate the importance of having a positive “first experience” in the Forex market. That is why we have selected the brokers best suited for novice traders. They have the simplest interface, excellent support service, and, of course, an abundance of free training materials. They are:

  • 1
    FxPro
    This broker is licensed by four regulators: FCA (Great Britain), CySEC (Cyprus), FSCA (South Africa), SCB (Bahama Islands). The minimum deposit is $100.
  • 2
    Admiral Markets UK
    The company operates under the regulation of the Cyprus CySec,British FCA, and Australian ASIC. The minimum deposit is $200. Trading platforms: MT4,MT5. The maximum leverage is 1:500.
  • 3
    XM Group
    This broker is licensed by three regulators: ASIC (Australia),IFCS (Belize), and CySEC (Cyprus). The minimum deposit on Micro and Standard accounts is $5. The maximum leverage available is up to 1:888 (it depends on the deposit amount).
  • 4
    AvaTrade
    This broker is regulated by the Australian ASIC, Japanese FSA, and South African FSCA. The minimum deposit in AvaTrade is $100.
  • 5
    FXTM
    The company’s activity is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial sector surveillance authority), UK FCA (Financial Regulatory Authority), as well as FSC (Financial Supervision Commission of Mauritius). The minimum deposit is $5.

Explore the TOP 10 brokers for beginners - the rating of the most popular brokers for novice traders. Detailed instructions to choose the most reliable company for cooperation and what should be given special consideration to.

The best Forex companies with European licenses

If you trade with large capital or want to transfer funds to a broker from your company, then you should choose a broker who has a European license. Such brokers, as a rule, have limited functionality and fewer tools for traders, but this is compensated by an increased reliability level.

You can find more information on the “types of Forex licenses” and their differences from each other in a complete overview of Forex regulators, prepared by Traders Union experts. This information will give answers to many questions, help you choose a reliable broker, and will be useful for every trader.

The Top 5 Forex brokers for investors using PAMM

Our ratings, compiled specifically for investors, will be useful to you if you want to profitably invest money in a management company and get stable passive income.
Here we have selected the five best companies to invest in that have PAMM accounts for use in trading on the Forex market.
Important!

By investing as a Traders Union member, our legal department will advise you in the event of a dispute with your broker. Moreover, the Traders Union will give you rebates that will earn you additional income.

Learn more about the benefits of working through Traders Union

Find more information about companies for PAMM investing at the Best PAMM Forex brokers page.

Top Forex brokers for Bitcoin trading

For those who prefer to trade in Bitcoins, the world's most popular cryptocurrency, we have prepared a rating of the top Bitcoin brokerages that offer this trading tool for their clients.

We have compiled a list of the most popular Forex Bitcoin brokers that offer the BTC/USD currency pair for trading, and they are:

Who are “Forex Bitcoin brokers”? Expert special review of Bitcoin brokers about how to choose the best Bitcoin brokerage for cooperation and how to profitably trade cryptocurrencies.

Methodology for compiling our ratings of Forex brokers

We evaluate and assess each broker using over 100 objective criteria, resulting in an average score for each Forex broker, which characterizes all aspects of its work. We also take into account its trading volume, which we have access to thanks to hundreds of thousands of traders of our Union. We also take into account reviews on brokers by their traders, which we curate on our website. As a result, according to our unique algorithmic matrix, which is applied to all companies, our program impartially calculates the overall average for each company and its position in the rating. This makes our rating system the most objective and independent in the Forex market.
Table of categories of criteria for evaluating Forex brokers
  • Criteria category name
    Criteria number in category
  • Support Financial
    38
  • Support Reliability
    27
  • Save Security
    18
  • Save Trading conditions
    15
  • Save Customer support
    9

Find out more about the unique broker assessment methodology developed by Traders Union specialists.

Make your own matrix. If you wish to compare companies by specific parameters, use a professional Forex broker comparison tool. With its help, you can make a selection of brokers for yourself using your customized parameters selected from among 150 brokers on our website.

Just try it!

Opinion of Traders Union’s Expert

As our chief analyst and trading expert, he regularly conducts comprehensive studies of all Forex brokers and monitors the information produced by each company. The data is carefully analyzed and inserted into our database. After that, a comparative analysis is carried out and our ratings are updated monthly along with a report on any recent changes that have occurred.

If you have no specific preferences, the Traders Union experts advise you to choose Forex brokers from among the top five companies in the ratings list. We recommend that you register with the Traders Union before opening an account with a broker, as this allows you to get additional payments from us.

Antony Robertson
Traders Union’s Analyst

Top 20 most discussed Forex brokers

Here you can find a list of the most discussed brokers as rated by Traders Union.
Important!

You can also submit your feedback about any Forex broker on our ratings list by going to its Profile page. That will help us in our mission to provide everyone with the opportunity to objectively evaluate any company based on real and independent reviews.

Cannot you decide and make a choice among Forex brokers?

Use our professional comparison system!

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FAQs regarding the top Forex brokers list

Statistic

How to choose a Forex broker in the rating?

The highest position in the rating table characterizes the broker with the highest reliability and popularity among traders. This is the main goal of the assessments.
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Where can I read reviews about Forex brokers from the rating?

The latest reviews about the work of traders can be found on the Profile page.
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How to open an account with a Forex broker through Traders Union?

To open an account with Traders Union, choose a broker, go to the company's website through the Traders Union website and register. Enter your account number from the broker in the "Accounts" section on the Traders Union website.
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Why is it more profitable to work with a broker through Traders Union than directly?

Working with a Forex broker through Traders Union will get you additional income in the form of daily or monthly payments in the form of rebates, even for unprofitable transactions. The Traders Union will return a part of the spread or commission that you paid to the broker for its services.
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What is a Forex broker?

A Forex broker is a financial company that provides traders with access to the international Forex market. It is an intermediary that provides the trader with software and a trading account to trade in the Forex market. Each brokerage company sets its own trading conditions, such as: minimum deposit, leverage, list of trading instruments, order execution, transaction speed, etc. The broker's reputation, rating, and credibility depend on service quality and is based on feedback from real clients of the company.