Forex Brokers List: All Regulated Forex Trading Brokers 2025

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: November 6, 2025

We provide valuable insights that allow you to compare regulated forex brokers by trading instruments, spreads, leverage, trading platform, initial capital requirements, payment methods and supported languages. Our team of expert traders has tested multiple forex brokers to compile a ranking of the best performers. Each broker has received an overall quality score based on several factors, including Trustpilot ratings, trading costs, order execution quality, regulatory compliance track record and more.

1. 

   Plus500 US

   Rating: 4

   This content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.

2. 

   eToro

   Rating: 4.2

   61% of retail investor accounts lose money

3. 

   Fusion Markets

   Rating: 4.8

   74-89% of retail's CFD accounts lose money

4. 

   FP Markets

   Rating: 4.9

   73.85% of retail investor accounts lose money

5. 

   Global Prime

   Rating: 4.7

   74-89% of retail CFD accounts lose money

6. 

   Pepperstone

   Rating: 4.4

   75.5% of retail investor accounts lose money

Below you can find a list of all regulated forex brokers

Broker	Trading Platforms	Licences
1 FP Markets 4.9 Read full review	cTrader, IRESS, MetaTrader 4, MetaTrader 5, TradingView	CySEC (Cyprus, # 371/18), FSAS (Seychelles, # SD130), FSCA (South Africa, # 50926), SCB (Bahamas), ASIC (Australia, # 286354), FSCM (Mauritius, # GB21026264)
FP Markets FX Spreads vs Industry Average Chart loading * FP Markets spreads for Raw Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-26 11:52:23 UTC
2 FPM Trading 4.9 Read full review	cTrader, MetaTrader 4, MetaTrader 5	FSCM (Mauritius, # GB25204316)
FPM Trading FX Spreads vs Industry Average Chart loading * FPM Trading spreads for Raw ECN Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-05 09:31:14 UTC
3 Fusion Markets 4.8 Read full review	cTrader, DupliTrade, Fusion+ Copy Trading, MetaFX, MetaTrader 4, MetaTrader 5, TradingView	FSAS (Seychelles, # SD096), VFSC (Vanuatu, # 40256), ASIC (Australia, # 385620)
Fusion Markets FX Spreads vs Industry Average Chart loading * Fusion Markets spreads for Zero Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-01 09:16:48 UTC
4 IC Markets 4.8 Read full review	cTrader, IC Social, MetaTrader 4, MetaTrader 5, ZuluTrade	CySEC (Cyprus, # 362/18), FSAS (Seychelles, # SD018), SCB (Bahamas, # SIA-F214), ASIC (Australia, # 335692), CMA (Kenya, # 199)
IC Markets FX Spreads vs Industry Average Chart loading * IC Markets spreads for Raw Spread Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-30 08:33:25 UTC
5 BlackBull Markets 4.8 Read full review	cTrader, MetaTrader 4, MetaTrader 5, TradingView, ZuluTrade, BlackBull CopyTrader, BlackBull Invest, BlackBull Shares, BlackBull Trade	FMA (New Zealand, # FSP403326), FSAS (Seychelles, # SD045)
BlackBull Markets FX Spreads vs Industry Average Chart loading * BlackBull Markets spreads for ECN Prime Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-20 14:08:12 UTC
6 AvaTrade 4.7 Read full review	AvaOptions, DupliTrade, AvaSocial, MetaTrader 4, MetaTrader 5, AvaTadeGO, Proprietary Web, ZuluTrade	CIRO (Canada), CySEC (Cyprus, # 347/17), FRSA (United Arab Emirates, # 190018), FFAJ (Japan, # 1574), FSCA (South Africa, # 45984), FSRA (Canada, # 190018), ISA (Israel, # 514666577), JFSA (Japan, # 1662), ASIC (Australia, # 406684), BVIFSC (Virgin Islands, British, # SIBA/L/13/1049), CBI (Ireland, # C53877)
AvaTrade FX Spreads vs Industry Average Chart loading * AvaTrade spreads for Retail Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-20 08:37:45 UTC
7 Global Prime 4.7 Read full review	MetaTrader 4	VFSC (Vanuatu, # 40256), ASIC (Australia, # 385620)
Global Prime FX Spreads vs Industry Average Chart loading * Global Prime spreads for Raw Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-01 18:00:21 UTC
8 Blueberry Markets 4.7 Read full review	MetaTrader 4, MetaTrader 5, TradingView	VFSC (Vanuatu, # 303561), ASIC (Australia, # 1245440)
Blueberry Markets FX Spreads vs Industry Average Chart loading * Blueberry Markets spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 11:28:13 UTC
9 GO Markets 4.7 Read full review	cTrader, MetaTrader 4, MetaTrader 5	CySEC (Cyprus, # 322/17), FSAS (Seychelles, # SD043), SVGFSA (Saint Vincent and the Grenadines, # 332), ASIC (Australia, # 254963), FSCM (Mauritius, # 19024896)
GO Markets FX Spreads vs Industry Average Chart loading * GO Markets spreads for GO Plus+ Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-02 01:24:58 UTC
10 Forex.com 4.6 Read full review	MetaTrader 4, MetaTrader 5, Forex.com	CFTC (United States, # 0339826), CIMA (Cayman Islands, # 25033), CIRO (Canada, # StoneX Financial (Canada) Inc.), CySEC (Cyprus, # 400/21), FCA (United Kingdom, # 446717), JFSA (Japan, # 2010401047199), MAS (Singapore, # StoneX Financial Pte. Ltd.)
Forex.com FX Spreads vs Industry Average Chart loading
11 Capital.com 4.6 Read full review	MetaTrader 4, Proprietary Mobile, Proprietary Web, TradingView	CySEC (Cyprus, # 319/17), FCA (United Kingdom, # 793714), SCB (Bahamas, # SIA-F245), ASIC (Australia, # 513393), ESCA (United Arab Emirates, # 20200000176)
Capital.com FX Spreads vs Industry Average Chart loading * Capital.com spreads for Retail Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-01 18:27:19 UTC
12 MultiBank Group 4.6 Read full review	MetaTrader 4, MetaTrader 5, MultiBank-Plus	CIMA (Cayman Islands, # 1811316), CySEC (Cyprus, # 430/23), FSAS (Seychelles, # C8424231), MAS (Singapore, # CMS101174), VFSC (Vanuatu, # 700443), ASIC (Australia, # 416279), ESCA (United Arab Emirates, # 20200000031), VARA (United Arab Emirates, # VL/24/06/001), FSCM (Mauritius, # C185514), BaFin (Germany, # 73406), FMAA (Austria, # 491129z), BVIFSC (Virgin Islands, British, # SIBA/L/14/1068)
MultiBank Group FX Spreads vs Industry Average Chart loading * MultiBank Group spreads for Pro Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 10:09:55 UTC
13 HFM 4.6 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Mobile	CMA (Saudi Arabia, # 155), CySEC (Cyprus, # 183/12), DFSA (United Arab Emirates, # F004885), FCA (United Kingdom, # 801701), FSAS (Seychelles, # SD015), SVGFSA (Saint Vincent and the Grenadines, # 22747 IBC 2015), FSCA (South Africa, # 46632), FSCM (Mauritius, # C110008214)
HFM FX Spreads vs Industry Average Chart loading * HFM spreads for Zero Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-01 23:10:53 UTC
14 Exness 4.6 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Mobile	CMA (Saudi Arabia, # 162), CySEC (Cyprus, # 178/12), FCA (United Kingdom, # 730729), FSAS (Seychelles, # SD025), FSCA (South Africa, # 51024), JSC (Jordan, # 51905), FSCM (Mauritius, # GB20025294), CBCS (Curaçao, # 0003LSI), BVIFSC (Virgin Islands, British, # SIBA/L/20/1133)
Exness FX Spreads vs Industry Average Chart loading * Exness spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-28 11:10:45 UTC
15 Vantage 4.5 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Web, ProTrader, TradingView, V-Social	CIMA (Cayman Islands, # 1383491), FCA (United Kingdom, # 590299), FSCA (South Africa, # 51268), VFSC (Vanuatu, # 700271), ASIC (Australia, # 428901)
Vantage FX Spreads vs Industry Average Chart loading * Vantage spreads for Raw ECN Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-04 08:54:33 UTC
16 FXCM 4.5 Read full review	MetaTrader 4, TradingView, ZuluTrade, Trading Station	CySEC (Cyprus, # 392/20), FCA (United Kingdom, # 217689), SVGFSA (Saint Vincent and the Grenadines, # 1776), FSCA (South Africa, # 46534), ISA (Israel, # 515234623), ASIC (Australia, # 309763)
FXCM FX Spreads vs Industry Average Chart loading * FXCM spreads for Active Trader Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-27 00:20:04 UTC
17 Pepperstone 4.4 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web	CySEC (Cyprus, # 388/20), DFSA (United Arab Emirates, # F004356), FCA (United Kingdom, # 684312), FSAS (Seychelles, # SD108), SCB (Bahamas, # SIA-F217), ASIC (Australia, # 414530), BaFin (Germany, # 151148), CMA (Kenya, # 128)
Pepperstone FX Spreads vs Industry Average Chart loading * Pepperstone spreads for Razor Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-02 10:36:55 UTC
18 Trade Nation 4.4 Read full review	MetaTrader 4, TradingView, TN Trader, TradeCopier	FCA (United Kingdom, # 525164), FSAS (Seychelles, # SD150), FSCA (South Africa, # 49846), SCB (Bahamas, # SIA-F216), ASIC (Australia, # 422661)
Trade Nation FX Spreads vs Industry Average Chart loading * Trade Nation spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 09:02:51 UTC
19 Switch Markets 4.4 Read full review	MetaTrader 4, MetaTrader 5	SVGFSA (Saint Vincent and the Grenadines, # 149)
Switch Markets FX Spreads vs Industry Average Chart loading * Switch Markets spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 11:41:03 UTC
20 CMC Markets 4.3 Read full review	CMC Next Generation, MetaTrader 4, TradingView	CIRO (Canada), DFSA (United Arab Emirates, # F002740), FCA (United Kingdom, # 173730), FMA (New Zealand, # FSP41187), MAS (Singapore, # 200605050E), ASIC (Australia, # 238054), BaFin (Germany, # 154814), BMA (Bermuda)
CMC Markets FX Spreads vs Industry Average Chart loading * CMC Markets spreads for FX Active Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-25 12:29:04 UTC
21 FBS 4.3 Read full review	MetaTrader 5	CySEC (Cyprus, # 331/17), FSCA (South Africa, # 50885), IFSC (Belize, # 000102/31), ASIC (Australia, # 426359)
FBS FX Spreads vs Industry Average Chart loading * FBS spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-01 18:02:56 UTC
22 Spreadex 4.3 Read full review	Proprietary Mobile, Proprietary Web, TradingView	FCA (United Kingdom, # 190941)
Spreadex FX Spreads vs Industry Average Chart loading * Spreadex spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-05 07:18:28 UTC
23 PrimeXBT 4.3 Read full review	MetaTrader 5, Proprietary Mobile, Proprietary Web	FSAS (Seychelles, # SD162), FSCA (South Africa, # 45697), FSCM (Mauritius, # GB24203383), BCR (El Salvador, # 66d10393e8a00a3181b8e457)
PrimeXBT FX Spreads vs Industry Average Chart loading * PrimeXBT spreads for CFD Trading Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-05 10:22:49 UTC
24 eToro 4.2 Read full review	eToro App, eToro CopyTrader, eToro Investing	CySEC (Cyprus, # 109/10), FCA (United Kingdom, # 583263), FRSA (United Arab Emirates, # 220073), FinCEN (United States, # 31000204884179), FINRA (United States, # 298361), FSAS (Seychelles, # SD076), GFSC (Gibraltar, # 1333B), AMF (France, # E2022-038), MFSA (Malta, # C97952), SEC (United States, # 0001753042), ASIC (Australia, # 491139)
eToro FX Spreads vs Industry Average Chart loading * eToro spreads for Retail Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-20 07:27:28 UTC
25 Axi 4.2 Read full review	MetaTrader 4, Axi Copy Trading, Axi Mobile	CySEC (Cyprus, # 433/23), DFSA (United Arab Emirates, # F003742), FCA (United Kingdom, # 466201), FMA (New Zealand, # 518226), SVGFSA (Saint Vincent and the Grenadines, # 25417), ASIC (Australia, # 318232)
Axi FX Spreads vs Industry Average Chart loading * Axi spreads for Pro Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 11:43:59 UTC
26 Plus500 4.2 Read full review	Proprietary Mobile, Proprietary Web	CFTC (United States, # 0001398), CySEC (Cyprus, # 250/14), DFSA (United Arab Emirates, # F005651), EFSA (Estonia, # 4.1-1/18), FCA (United Kingdom, # 509909), FFAJ (Japan, # 2010001092422), FMA (New Zealand, # 486026), FSA (Japan, # 2010001092422), FSAS (Seychelles, # SD039), FSCA (South Africa, # 47546), MAS (Singapore, # CMS100648), SCB (Bahamas, # SIA-F250), ASIC (Australia, # 417727)
Plus500 FX Spreads vs Industry Average Chart loading * Plus500 spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-20 07:49:34 UTC
27 City Index 4.2 Read full review	MetaTrader 4, Proprietary Mobile, Proprietary Web, TradingView	CIRO (Canada), DFSA (United Arab Emirates, # F000542), FCA (United Kingdom, # 446717), JFSA (Japan, # 2010401047199), MAS (Singapore, # 201130598R), HKSFC (Hong Kong, # BCQ152), ASIC (Australia, # 345646)
City Index FX Spreads vs Industry Average Chart loading * City Index spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 08:47:57 UTC
28 Eightcap 4.2 Read full review	MetaTrader 4, MetaTrader 5, TradingView	CySEC (Cyprus, # 246/14), FCA (United Kingdom, # 921296), SCB (Bahamas, # SIA-F220), ASIC (Australia, # 391441)
Eightcap FX Spreads vs Industry Average Chart loading * Eightcap spreads for Raw Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-12 11:16:44 UTC
29 TMGM 4.2 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Mobile	FMA (New Zealand, # 569807), FSAS (Seychelles, # SD224), VFSC (Vanuatu, # 40356), ASIC (Australia, # 436416), FSCM (Mauritius, # GB22201012), CMA (Kenya, # 219)
TMGM FX Spreads vs Industry Average Chart loading * TMGM spreads for Edge Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-02 01:41:54 UTC
30 Oanda 4.1 Read full review	MetaTrader 4, Oanda Web, TradingView	CFTC (United States, # 0325821), FCA (United Kingdom, # 542574), JFSA (Japan, # 4010001122945), KNF (Poland, # KPWiG-4021-54-1/2004), MAS (Singapore), ASIC (Australia, # 000412981), BVIFSC (Virgin Islands, British, # SIBA/L/20/1130)
Oanda FX Spreads vs Industry Average Chart loading * Oanda spreads for OANDA CFDs account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-25 12:11:39 UTC
31 Tickmill 4.1 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web	CySEC (Cyprus, # 278/15), DFSA (United Arab Emirates, # F007663), FCA (United Kingdom, # 717270), FSAS (Seychelles, # SD008), FSCA (South Africa, # FSP 49464)
Tickmill FX Spreads vs Industry Average Chart loading * Tickmill spreads for Raw Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-01 18:04:17 UTC
32 OctaFX 4.1 Read full review	MetaTrader 5, Proprietary Mobile, Proprietary Web	CySEC (Cyprus, # 372/18), FSCA (South Africa, # 51913), ISA (Comoros, # T2023320)
OctaFX FX Spreads vs Industry Average Chart loading * OctaFX spreads for OctaTrader account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-19 19:16:52 UTC
33 FxPro 4 Read full review	cTrader, FxPro Edge, MetaTrader 4, MetaTrader 5	FCA (United Kingdom, # 509956), FSAS (Seychelles, # SD120), FSCA (South Africa, # 45052), SCB (Bahamas, # SIA-F184)
FxPro FX Spreads vs Industry Average Chart loading * FxPro spreads for Raw Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-01 17:56:20 UTC
34 easyMarkets 4 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web, TradingView	CySEC (Cyprus, # 079/07), FSAS (Seychelles, # SD056), FSCA (South Africa, # 54018), ASIC (Australia, # 246566), BVIFSC (Virgin Islands, British, # SIBA/L/20/1135)
easyMarkets FX Spreads vs Industry Average Chart loading * easyMarkets spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 08:18:23 UTC
35 FX Primus 4 Read full review	MetaTrader 4, MetaTrader 5	VFSC (Vanuatu, # 14595)
FX Primus FX Spreads vs Industry Average Chart loading * FX Primus spreads for PrimusPRO account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 10:01:26 UTC
36 IG 3.9 Read full review	L2 Dealer, MetaTrader 4, Proprietary Web, ProRealTime, TradingView	CFTC (United States, # 0509630), DFSA (United Arab Emirates, # F001780), FCA (United Kingdom, # 944492), FFAJ (Japan), FINMA (Switzerland, # IG Bank S.A.), FMA (New Zealand, # 684191), FSCA (South Africa, # 41393), JFSA (Japan, # 9010401051715), MAS (Singapore, # 1489), ASIC (Australia, # 515106), BaFin (Germany, # 148759), BMA (Bermuda, # 54814)
IG FX Spreads vs Industry Average Chart loading * IG spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-20 07:52:37 UTC
37 Admirals 3.9 Read full review	MetaTrader 4, MetaTrader 5, StereoTrader	CIRO (Canada), CySEC (Cyprus, # 201/13), EFSA (Estonia, # 4.1-1/46), FCA (United Kingdom, # 595450), FSAS (Seychelles, # SD073), FSCA (South Africa, # FSP51311), JSC (Jordan, # 1/3/01970/21), ASIC (Australia, # 410681), CMA (Kenya, # 178)
Admirals FX Spreads vs Industry Average Chart loading * Admirals spreads for Zero MT5 account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 11:53:24 UTC
38 Libertex 3.9 Read full review	MetaTrader 4, MetaTrader 5	CySEC (Cyprus, # 164/12), SVGFSA (Saint Vincent and the Grenadines, # 1278), FSCM (Mauritius), BaFin (Germany, # 10161686)
Libertex FX Spreads vs Industry Average Chart loading * Libertex spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-01 17:10:37 UTC
39 ActivTrades 3.9 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Web, TradingView	CONSOB (Italy, # 211), FCA (United Kingdom, # 434413), SCB (Bahamas, # 199667 B), CMVM (Portugal, # 433), FSCM (Mauritius, # GB24203277), CVM (Brazil, # 43050.917/0001-03)
ActivTrades FX Spreads vs Industry Average Chart loading * ActivTrades spreads for Individual Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-08-12 16:45:12 UTC
40 XM Group 3.8 Read full review	MetaTrader 4, MetaTrader 4 MultiTerminal, MetaTrader 5, Proprietary Mobile, Proprietary Web	CFTC (United States, # 0516820), CySEC (Cyprus, # 120/10), DFSA (United Arab Emirates, # F003484), FSCA (South Africa, # 49976), IFSC (Belize, # 000261/27), FSCM (Mauritius, # GB23202700)
XM Group FX Spreads vs Industry Average Chart loading * XM Group spreads for XM Zero Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-19 12:29:42 UTC
41 Markets.com 3.8 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Web, TradingView	CySEC (Cyprus, # 092/08), FSCA (South Africa, # 46860)
Markets.com FX Spreads vs Industry Average Chart loading * Markets.com spreads for Classic Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 09:09:54 UTC
42 Swissquote 3.7 Read full review	CFXD, MetaTrader 4, MetaTrader 5, Swissquote Live Platfrom	CySEC (Cyprus, # 422/22), DFSA (United Arab Emirates, # F001438), FCA (United Kingdom, # 562170), FINMA (Switzerland), FSCA (South Africa, # 2011/146594/07 (FSP 43908)), MAS (Singapore, # 201906194G), MFSA (Malta, # C57936), HKSFC (Hong Kong, # AZV127)
Swissquote FX Spreads vs Industry Average Chart loading * Swissquote spreads for Prime Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 11:47:32 UTC
43 Saxo Bank 3.7 Read full review	TradingView, SaxoInvestor, SaxoTraderGO, SaxoTraderPRO	CONSOB (Italy, # 296), FCA (United Kingdom, # 207519), FFAJ (Japan), JFSA (Japan, # 8010401082810), MAS (Singapore, # 200601141M), DFSA (Denmark, # 1149), HKSFC (Hong Kong, # AVD061), ASIC (Australia, # 280372)
Saxo Bank FX Spreads vs Industry Average Chart loading * Saxo Bank spreads for VIP account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 08:44:32 UTC
44 Interactive Brokers 3.7 Read full review	Proprietary Mobile, Proprietary Web	CFTC (United States, # 0394039), CIRO (Canada), FCA (United Kingdom, # 208159), JFSA (Japan, # 187), MAS (Singapore, # CMS100917), HKSFC (Hong Kong, # ADI249), ASIC (Australia, # 453554), SEBI (India, # INZ000217730), CBI (Ireland, # C423427)
45 XTB 3.5 Read full review	xStation 5	CNMV (Spain, # 40), CySEC (Cyprus, # 169/12), DFSA (United Arab Emirates, # F006316), FCA (United Kingdom, # 522157), FSCA (South Africa, # 49970), FSAN (Norway, # FT00118162), IFSC (Belize, # 000302/11), KNF (Poland), BaFin (Germany)
XTB FX Spreads vs Industry Average Chart loading * XTB spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-21 07:45:41 UTC
46 Iron FX 3.5 Read full review	MetaTrader 4, TradeCopier	CySEC (Cyprus, # 125/10), FCA (United Kingdom, # 585561), FSCA (South Africa, # 45276)
Iron FX FX Spreads vs Industry Average Chart loading * Iron FX spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-05-30 10:15:35 UTC
47 InstaForex 3.3 Read full review	MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web	CySEC (Cyprus, # 266/15), SVGFSA (Saint Vincent and the Grenadines, # 24321), BVIFSC (Virgin Islands, British, # SIBA/L/14/1082)
InstaForex FX Spreads vs Industry Average Chart loading * InstaForex spreads for ECN Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-11-05 12:05:08 UTC
48 FXTM 2.7 Read full review	MetaTrader 4, MetaTrader 5	CMA (Saudi Arabia, # 135), FCA (United Kingdom, # 777911), FSCA (South Africa, # 50320), FSCM (Mauritius, # C113012295)
FXTM FX Spreads vs Industry Average Chart loading * FXTM spreads for Advantage Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-12-01 14:07:16 UTC

Choosing the best forex broker

According to the most recent data, the foreign exchange market has an average volume of around $7.51 trillion per day, making it the largest financial market globally. Due to its decentralised nature, traders are free to select from numerous online brokers and can choose a brand they feel comfortable with. However, many people face the dilemma of which broker to choose and how to ensure the one they pick is reliable. Selecting the right firm requires sifting through a large number of options. Here are some of the things you need to take into consideration when choosing a forex broker.

Regulatory compliance

Every reputable forex broker should apply for a licence or register with the regulatory bodies governing forex activities in the region where the broker wishes to operate legally. For instance, any trustworthy forex broker operating in the US should seek membership in the NFA (National Futures Association) or register with the CFTC (Commodity Futures Trading Commission). The former is a self-regulatory, industry-wide organisation monitoring the futures trading industry in the USA. It develops programmes, regulatory rules and guidelines that share one common goal: to protect traders, investors and the financial market. The latter is an independent government agency that regulates the commodity options and futures markets. Its main mission is to protect participants in the financial market from fraud.

Tier 1 Regulators

ASIC

Australia

ACPR

France

AMF

France

AFM

Netherlands

CIRO

Canada

CBI

Ireland

CNMV

Spain

CMVM

Portugal

CONSOB

Italy

CFTC

United States

DFSA

Denmark

BaFin

Germany

FCA

United Kingdom

FinCEN

United States

FFAJ

Japan

FINRA

United States

FMAA

Austria

FMA

New Zealand

FRSA

United Arab Emirates

FSA

Japan

FSRA

Canada

FSAN

Norway

FIN-FSA

Finland

IIROC

Canada

JFSA

Japan

MAS

Singapore

SEC

United States

SFSA

Sweden

FINMA

Switzerland

Tier 2 Regulators

CMA

Saudi Arabia

CVM

Brazil

CySEC

Cyprus

DFSA

United Arab Emirates

EFSA

Estonia

FSCA

South Africa

GFSC

Gibraltar

ISA

Israel

MNB

Hungary

MFSA

Malta

KNF

Poland

ESCA

United Arab Emirates

SEBI

India

HKSFC

Hong Kong

VARA

United Arab Emirates

Tier 3 Regulators

BCR

El Salvador

BMA

Bermuda

BVIFSC

Virgin Islands, British

CMA

Kenya

CIMA

Cayman Islands

CBCS

Curaçao

SVGFSA

Saint Vincent and the Grenadines

FSAS

Seychelles

FSC

Virgin Islands, British

FSCM

Mauritius

IFSC

Belize

JSC

Jordan

ISA

Comoros

SCB

Bahamas

VFSC

Vanuatu

Leverage and margin

Forex traders have access to leverage ratios of varying values that depend on the broker’s policy as well as regulatory restrictions. Forex pairs can usually be traded with maximum leverage between 1:20 and 1:1000, or even higher in some jurisdictions. Due to regulatory limitations, forex brokers operating in the US cannot offer leverage higher than 1:50 to retail traders. Simply put, leverage can be considered a loan extended to margin-account holders by the brokers. If this sounds too complicated, here is a practical example. If you use leverage of 1:50 and have $2,000 available in your account, you can hold a position valued at $100,000. Leverage may work in favour of the trader who wishes to boost potential returns, but one must be careful because it can also exhaust the balance rapidly.

Commissions and spreads

All brokers charge fees for the services they offer. These surcharges include spreads and commissions. Brokers may apply both spreads and commissions to forex trades, profiting from each type of fee. However, it is common for brokers to impose zero commissions on trades and instead increase the spread applied to forex orders. While paying no commissions may sound better to the inexperienced trader, those who calculate the total cost of trading will quickly see that a small commission with a tighter spread often results in a lower overall fee.

Order execution quality

The efficiency and reliability of order execution are also critical when choosing a forex broker. High-quality execution means your orders are filled promptly, at or near the expected price, without unnecessary delays or slippage. Brokers with solid execution use advanced technologies and routing systems to ensure trades are completed quickly and accurately, minimising the difference between the requested price and the actual execution price.

This reduces trading costs and enhances your ability to capitalise on market movements. When evaluating brokers, consider metrics such as execution speed, fill rates and price-improvement statistics, which indicate how often trades are executed at better prices than the quoted market rates. Reliable order execution can significantly impact your long-term results, especially in fast-moving markets.

Initial deposit

Most forex accounts can be funded with very small sums, so there is no need to be a millionaire to gain market exposure. As a matter of fact, all you need is about $50 to fund your trading account – in some cases even less. The exact minimum deposit varies across brokers and account types. Some brokers have gone as far as setting no minimum limit to activate a trading account. That said, you are advised to have at least $1,000 in your account if you want to place a few decent orders.

Customer service

Customer service is also something you should not underestimate when choosing a forex broker. Ensure you will have proper 24/7 support at your disposal. Different communication channels are also appreciated, as they allow traders to resolve any problems quickly during trading sessions.

Trading platform

Last but not least, check the range of available trading platforms. Most platform solutions boast a user-friendly interface, so it will take you no time to master the quickest way to access markets and orders. That said, forex platforms vary in style and functionality, so it might be a good idea to try several via a demo account until you find the one that matches your needs.