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: July 9, 2025

We offer you a powerful tool that allows you to compare forex brokers by regulation, trading instruments, spreads, leverage, trading platform, deposit amount, payment methods and supported languages. Our team of expert traders tested several regulated and trustworthy forex brokers and compiled a toplist with the best among them. Each broker received a quality score based on several factors, including Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service and more.

1. 

   Fusion Markets

   Rating: 4.7

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

2. 

   FP Markets

   Rating: 4.9

   73.85% of retail investor accounts lose money

3. 

   ActivTrades

   Rating: 4.5

   72% of retail investor accounts lose money

4. 

   BlackBull Markets

   Rating: 4.8

   Trading leveraged products is risky

5. 

   Global Prime

   Rating: 4.6

   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 with all regulated Forex brokers

Broker	Trading Platforms	Licences
1 FP Markets 4.9 Read full review	cTrader, IRESS, 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 - 2025-07-09 08:54:13 UTC
2 IC Markets 4.8	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
3 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
4 GO Markets 4.8	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 - 2025-07-08 21:49:37 UTC
5 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 - 2025-07-09 08:16:47 UTC
6 Fusion Markets 4.7 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 - 2025-07-09 08:34:34 UTC
7 Forex.com 4.7 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
8 Blueberry Markets 4.7	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 Global Prime 4.6 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 - 2025-07-09 09:35:28 UTC
10 MultiBank Group 4.6	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
11 Exness 4.6	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
12 Axi 4.5 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
13 Capital.com 4.5	MetaTrader 4, Proprietary Mobile, Proprietary Web, TradingView	CySEC (Cyprus, # 319/17), FCA (United Kingdom, # 793714), SCB (Bahamas, # SIA-F245), DFSA (Denmark), ASIC (Australia, # 513393), ESCA (United Arab Emirates, # 20200000176)
Capital.com FX Spreads vs Industry Average Chart loading * Capital.com spreads for Standard Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-07-09 10:23:50 UTC
14 ActivTrades 4.5 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 - 2025-07-09 10:39:53 UTC
15 HFM 4.5	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 - 2025-07-09 10:55:13 UTC
16 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 - 2025-07-09 08:45:43 UTC
17 FxPro 4.4 Read full review	cTrader, FxPro Edge, MetaTrader 4, MetaTrader 5	CySEC (Cyprus, # 078/07), 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 - 2025-07-09 09:19:18 UTC
18 Spreadex 4.4	Proprietary Mobile, Proprietary Web, TradingView	FCA (United Kingdom, # 190941)
19 Trade Nation 4.4	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
20 PrimeXBT 4.4	MetaTrader 5, Proprietary Mobile, Proprietary Web	FSAS (Seychelles, # SD162), FSCA (South Africa, # 45697), FSCM (Mauritius, # GB24203383), BCR (El Salvador, # 66d10393e8a00a3181b8e457)
21 Switch Markets 4.4	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
22 Vantage FX 4.3 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 FX Spreads vs Industry Average Chart loading * Vantage FX spreads for Raw ECN Account account type. There might be additional fees corresponding with this account type. ** Last update - 2025-07-09 09:01:34 UTC
23 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 - 2025-07-09 09:45:55 UTC
24 easyMarkets 4.3 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
25 Markets.com 4.3 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
26 OctaFX 4.3	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 - 2025-07-09 10:47:29 UTC
27 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
28 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
29 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
30 FX Primus 4.2	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
31 Plus500 4.1 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
32 Oanda 4 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 - 2025-07-09 08:06:48 UTC
33 CMC Markets 4	CMC Next Generation, MetaTrader 4	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 - 2025-07-09 09:11:07 UTC
34 XTB 4	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
35 FXCM 4	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 - 2025-07-09 10:13:26 UTC
36 FXTM 3.9 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 - 2025-07-09 09:26:54 UTC
37 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
38 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
39 Tickmill 3.9	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 - 2025-07-09 09:53:40 UTC
40 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 - 2025-07-09 10:31:28 UTC
41 TMGM 3.9	MetaTrader 4, MetaTrader 5, Proprietary Mobile	FMA (New Zealand, # 569807), 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 - 2025-07-08 21:57:26 UTC
42 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 - 2025-07-09 08:26:57 UTC
43 Saxo Bank 3.7	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 Swissquote 3.4	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
45 Iron FX 3.3 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
46 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 - 2025-05-29 14:25:17 UTC
47 Interactive Brokers 2.9	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)
48 Charles Schwab 1.7	Thinkorswim, StreetSmart Edge	CFTC (United States, # 0477394), FCA (United Kingdom, # 225116), FINRA (United States, # 5393), MAS (Singapore, # 200902152D), SEC (United States), HKSFC (Hong Kong, # ADV256)
49 WeBull 1.4	Proprietary Mobile, Proprietary Web	CIRO (Canada), FCA (United Kingdom, # 961286), FINRA (United States, # 289063), FSCA (South Africa, # 50863), MAS (Singapore, # 202116981M), SEC (United States, # 0001709585), HKSFC (Hong Kong, # BNG700), ASIC (Australia, # 536980)

What Is Forex and How the Forex Market Operates?

The place where currencies are traded is known as the “foreign exchange market”. To conduct foreign businesses and trades, people around the world often resort to currency exchange operations, which explains why currencies are of extreme importance for forex users. For instance, if you currently live in the United States and you want to go to Italy and buy something, you will have to pay for the purchase in euros (EUR). This means that you will have to convert a certain amount of dollars in order to receive their equivalent value in euros.

The primary reason for the classification of forex as the largest and most liquid financial market in the world is the need for currency exchange. Forex is bigger in size than most of the stock market, with estimates for the market’s size in 2020 amounting to $2.4 quadrillion. According to the latest information released by the Bank for International Settlements, the market has increased its profits, generating a trading volume as high as $7.51 trillion per day.

One of the most unique aspects of this international market is the fact there is no central marketplace for the foreign exchange. This means you can trade from anywhere. Plus, currency trading is conducted electronically, or as you can also call it – over-the-counter. This means that all transactions occur via computer networks used by traders located all over the world. Another advantage of the market is its working hours, with the forex market operating 24 hours, 5 days a week. The biggest financial centers worldwide are Tokyo, New York, Zurich, Hong Kong, Paris, Sydney, and Singapore. So, as the logic goes, when the trading day in the USA ends, the market opens in Hong Kong and Tokyo – this is why the forex market is extremely active and prices are changing constantly.

The market of currencies is open, just like the market of bonds, stocks, cars, computers and many other services and goods. The value of the currency fluctuates depending on the demand and supply as well as other factors affecting global economies.

• When the demand for a currency exceeds the volume of its supply, this leads to an increase in the price of the respective currency.
• If the supply is larger than the demand for a currency, the price of said currency will decline.

One of the biggest benefits of forex trading is the ability to buy or sell a large number of currencies, exchanging them for other currencies at any time. For instance, if you think that the Eurozone is going through turmoil that can negatively affect the price of the euro, you can sell EUR and buy USD. On the contrary, if you think that the Eurozone is stable enough, you can sell USD and buy EUR. It all comes to your analysis and personal predictions.

In the traditional sense, there is no such thing as luck in the forex market. The outcome of your trades depends on the way you act – you are the one who will decide whether to buy/sell or just watch – the market is always on the move.

Price movements in the forex market and major currency pairs

The forex exchange market is one of the fast-paced and most exciting markets in the world. It is the domain of large financial corporations, institutions, hedge funds, central banks and really wealthy people. All this has been taken to a whole new level with the help of the internet, and now it is possible for every average investor to sell or buy currencies easily just by making a few mouse clicks.

Compared to other markets, forex experiences significantly smaller daily fluctuations as most of the currency pairs are moving less than a cent on a daily basis. This means that the change in prices is usually less than 1% which is why forex is known to be one of the least volatile financial markets. If you are more of a risky player, then you can rely on big leverages in order to increase the value of your potential wins. In the sphere of the forex market, depending on the local regulations applicable within your country of residence, leverage can go as high as 1:1,000. Remember – the higher the leverage – the bigger the risk. Due to the 24/5 trading and liquidity of the market, forex brokers managed to make high leverage ratios a standard feature of this industry.

The rapid growth of the forex market has been boosted by increased liquidity and the option of applying big leverage to trades. Positions can be held open for months or one can choose to close them within minutes. The price rates of currencies are based on considerations of demand and supply, and it is impossible to manipulate them due to the size of the market – it will simply not allow it. The foreign exchange market provides plenty of opportunities for investors, but if you want to be really good at what you do, you have to know the basics behind currency movements.

The goal of the next few lines is to provide a foundation for traders or investors who are new to those markets. Keep reading and you will learn a couple of things regarding the basics of the exchange rates and the market itself.

You can find hundreds of different currencies used for trades all over the world, but not all of them fall under the category of commonly traded currencies on the forex market. Usually, in the forex sector, it is the most politically/economically stable and liquid currencies that enjoy the highest demand. As you can guess, due to the strength of the US economy, the American dollar is the most traded currency all over the world.

Currently, the 10 most traded currencies, in no specific order, are the US dollar (USD), the euro (EUR), the Swiss franc (CHF), the New Zealand dollar (NZD), the British pound(GBP), the Japanese yen (JPY), the Canadian dollar (CAD), the Chinese renminbi, the Hong Kong dollar and the Australian dollar (AUD).

Currencies are traded in pairs, where one of them is quoted against the other. You will notice that several pairs are categorized as major, with all of them including the USD either as the base currency (the one on the left) or the quoted currency (the one on the right). Based on the frequency and volume of trades, these are the tickers that usually fall under the category of major currency pairs:

• EUR/USD
• USD/JPY
• GBP/USD
• USD/CHF
• USD/CAD
• AUD/USD
• NZD/USD

Choosing the Best Forex Broker

According to most recent data, the foreign exchange market trades about $7.51 trillion per day, making it the largest financial market on a global scale. Due to the decentralized nature of the forex market, traders are free to select frоm numerous online brokers, choosing a brand that will help them with the trading activity. However, many people will face the dilemma of what kind of broker to choose and how to be sure that the one they have picked is reliable. Selecting the proper one requires sifting through a large number of broker 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 license or register with the regulatory bodies governing forex activities in the region where the broker wants to operate legally. For instance, any trustworthy forex broker operating in the US will be an honorable member of the NFA (National Futures Association) and will be registered with the CFTC (Commodity Futures Trading Commission). The former is a self-regulatory and industry-wide organization monitoring the futures trading industry in the USA. It develops programs, regulatory rules and services that share one common goal – to protect the integrity of traders, investors and the financial market. The latter represents 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 ranging values that depend on the broker’s policy as well as regulatory restrictions. Forex pairs can be traded with leverage starting from 1:20 and going up to 1:1,000, 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 to you, here is a practical example – if you are using leverage of 1:50 and you have $2,000 available in your account, then this means you can hold a position that is valued at $100,000. Leverage may work in favor of the trader who wishes to boost their potential return, but one must be careful because it can also exhaust your balance rapidly.

Commissions and Spreads

Every broker will charge small fees for the services it offers to its clients. These surcharges include the so-called spreads and commissions. Brokers may apply both spreads and commissions to forex trades, making a profit from each type of fee. However, it is common for brokers to impose zero commissions on trades and instead, increase the spread that is applied to forex orders. While paying no commissions may sound better to the inexperienced trader, those who can calculate the whole cost of trading will quickly see that a small commission with a tighter spread may often result in a lower overall trading fee.

Initial Deposit

Good thing is most forex accounts can be funded with really small sums, so it is not required to be a millionaire to start with this activity. As a matter of fact all you need is about $50 to fund your trading account. The exact minimum deposit varies acrosss different brokers and types of trading accounts. Some brokers have gone as far as setting no minimum limit to activate one’s trading account. That said, you are recommended 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 that you should not underestimate when choosing a forex broker. Make sure that you will have a proper 24/7 support service at your disposal. Different communication channels are also appreciated as they allow traders to quickly resolve any problems during trading sessions.

Trading Platform

Last but not least – check the range of available trading platforms. Most trading 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 functionalities, so it might be a good idea to try at least several platforms via a demo account until you find the one that matches your needs.