The 10 best forex brokers

The 10 best forex brokers

Best forex brokers | Forex trading is probably one of the easiest financial markets to start trading: to get started, you just need to open and fund an account through a regulated online broker. Choosing the best forex trading broker requires some initial research, so you can find the one that best suits your trading needs and experience level.

Best forex brokers

Forex trading is probably one of the easiest financial markets to start trading: to get started, you just need to open and fund an account through a regulated online broker. Choosing the best forex trading broker requires some initial research, so you can find the one that best suits your trading needs and experience level.

Below you will find the best forex brokers about each broker and their respective trading platforms. Most forex brokers allow you to open a basic account to start your investment journey – choose the right one for you based on the services and extras they provide beyond what a traditional broker would do.

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1. AvaTrade

AvaTrade, one of the safest brokers in the industry, manages 7 regulations on 6 continents (Europe, Australia, Japan, British Virgin Islands, United Arab Emirates and South Africa). You will be pleasantly surprised by its asset availability, its leading platforms and generous trading conditions (you can use leverage up to 400:1). AvaTrade. Best for: forex trading outside the US.

AvaTrade, Forex & CFD Trading


FXCC, the best brokerage platform for non-US users, allows you to choose from 70 currency pairs, different CFDs, spot metals and the top 8 cryptocurrencies in the world: Bitcoin, Ethereum and Litecoin are just a sampling of the various cryptocurrencies available. You can also invest in 12 popular stock indices, spot WTI and Brent oil. FXCC Ideal for: Forex and CFD traders.

3. CedarFX

CedarFX believes in combining the best market conditions with excellent pricing and technology so that clients can grow their accounts. CedarFX prides itself on offering a low spread, which generally indicates low volatility and a high level of liquidity.

CedarFX offers 2 types of accounts: 0% commission accounts and eco accounts.

4. IG Markets

IG Markets offers the opportunity to trade 80 different currency pairs. The broker requires a minimum deposit of $250.

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IG accepts US-based customers under the supervision of the CFTC and the NFA. Under the trust agreements entered into, IG keeps your money in separate accounts for added security. In addition to its own trading platform, IG supports external forex platforms such as MetaTrader 4 and ProRealTime; it also allows trading via API (Application Programming Interface).

5. SimpleFX

SimpleFX is available globally with a few exceptions. The platform is available via WebTrader, MetaTrader 4 and native mobile apps for Android, iPhone and HarmonyOS (Huawei).

6. eToro

eToro specializes in social trading, an ideal choice for beginners who can follow the trades of experienced traders with a proven track record. In addition to its world-class social trading network, eToro has excellent educational resources for forex beginners. The intuitive multi-asset trading and social trading platforms and apps offered by eToro can be immediately used by anyone. eToro does not support trading platforms 4 and 5 (MT4 and MT5).

Best forex brokers ETORO

7. Saxo Bank

In addition to offering trading in stocks, bonds, ETFs and mutual funds, Saxo Bank provides a premier platform for trading leveraged products such as forex, CFDs, futures, commodities, forex options, listed options and other derivatives.

8. Interactive brokers

Interactive Brokers offers some of the lowest costs in the industry, such as a $0 commission on US-listed stocks and ETFs. Thanks to Interactive’s world-class services in 33 countries covering 134 markets around the world, the company is overseen by most of the world’s leading financial regulators, including the Securities and Exchange Commission, the CFTC and the NFA; Interactive is also subject to regulatory oversight in the UK, Australia and Canada and has branches in Japan, Hong Kong, India and Luxembourg. Interactive brokers. Best for: More sophisticated investors.


Founded in 2011, FXTM can support your online trading regardless of your financial ambitions.

This broker specializes in leveraged trading to give you the ability to generate financial returns on rising and falling prices of forex, indices, commodities, stocks and cryptocurrencies. Whether you are an experienced trader or not, FXTM will help you find freedom in the financial markets.

10. Pepperstone

Investing with Pepperstone allows you to easily invest in a wide range of assets such as:

  • forex
  • CFD
  • Actions
  • Cryptocurrencies

The platform offers 24/7 customer service and the ability to use MetaTrader or cTrader. Examining foreign currency pairs makes it easy to hedge against losses and market fluctuations. You can learn everything you need through Pepperstone’s educational platform and build a diverse portfolio that will help you grow your net worth and build wealth.

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What is a forex broker?

Retail forex brokers are financial institutions that act as intermediaries between individual trading clients and the forex market. They are featured online through their official websites and cater to smaller traders who want to trade the forex market on margin.

Online forex brokers often allow traders to execute forex trades using their supported electronic trading platforms. In addition to offering their own trading software, many online forex brokers also support popular external platforms such as MetaTrader 4 and MetaQuotes 5 (MT4/5).

Some forex brokers also offer very useful educational information that beginners can use to improve their trading knowledge; they can also provide access to expert forex market analysis and financial news streams to help you make better trading decisions.

If you choose a forex broker that uses automation, you can try trading with bots. Bots are programs that exploit artificial intelligence and use current information to trade for you; each bot uses a specific trading plan designed to help you increase your earnings. However, trading bots are not perfect – you will always have to do your research, set a budget and monitor your account for the best results.

Why trade forex?

Carrying out a forex transaction involves simultaneously buying one currency and selling another at a certain rate known as the “exchange rate”. Forex traders make money by buying a currency pair at a low price and selling it at a high price, or by selling a currency pair at a high price and buying it at a low price.

Many like to trade forex because they can get started very easily by opening a trading account and downloading a free platform like MetaTrader. You can enter and exit positions very quickly, trade at your own pace and make money. Investors often start trading because they can begin to understand the market without feeling confused about the asset they are trading.

An overview of the forex markets

In the forex market, traders agree to exchange one currency for another, making a transaction at a certain known level, as mentioned, with the exchange rate setting. Like stock prices, the exchange rate fluctuates based on supply and demand factors, as well as general currency market expectations about future events.

Forex traders can make money on a currency transaction in 2 ways: first, by buying or buying a currency and it increases in value relative to the currency being sold; second, by selling or shorting a currency and it falls relative to the bought currency.

Many currency pairs listed on the forex market experience significant volatility or fluctuations, which can lead to gains or losses for traders; you can review the performance of EUR/USD in the last week, month, year or more. Seeing the couple’s story provides a lot of information, and you can also compare their movements to current events in the United States or the European Union.

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During the comparison process, you may notice that the couple moves in the opposite direction of the news you are reading; By continuing to read, you will learn to anticipate the movement of currencies based on current events.

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Risk and return in forex trading

In forex trading, it is possible to earn returns by taking a long or short position in a currency pair that subsequently appreciates. The risk of making a forex transaction is that the market will not behave as expected after the trade is made.

Many brokers allow traders to amplify the gains or losses they take on a position through the use of leverage. Leverage is normally expressed as the ratio of the position size you want to control to the base currency deposited on margin – for example with a leverage of 500:1 you can control a $500 position with a $500 deposit .1 dollar margin.

Also, most successful traders use a low risk/reward ratio such as 1:2 or 1:3. For example, if you think the odds of a trade making 20 pips are roughly equal to the odds of losing 10 pips , your risk/reward ratio for this trade is 1:2. If this meets your risk/reward criteria, you might consider this trade worth executing.

Choose your broker carefully

As your forex broker will be your main trading partner, choose it carefully, making sure it is reliable and meets your needs as a trader. To understand if an online broker is right for you, open a demo account first – trading with a demo account can help you avoid potentially costly mistakes that could result from your unfamiliarity with the broker’s trading platform.

CedarFX, the world’s first eco-sustainable forex broker, CedarFX offers the Eco Account option, which includes a $1 fee for each lot traded; The broker takes care of the payment of the commission in full, which is then put toward the purchase of trees.


The brokers featured in this review were chosen for a variety of reasons depending on the specific category in which we believe they excel. The basic requirements are the strength of its regulatory environment, its overall good reputation with clients over a long period of time and the considerable number of currency pairs available for trading.