The Best Forex Brokers for 2024

All the information in our website is based on comprehensive research combined with years of experience in reviewing online forex brokers. The forex brokers’ reviews and rating are based on testing range of features, including each broker’s products, services, and tools. We update the website weekly with the newest accurate data available in the forex trading market.

The forex market is the largest and most active market in the world. To get access to this market you will need to find a reliable and reputable forex broker. This is essential for your future success in the Forex market.

To choose the best forex broker you will need to identify your style of investment. As a Forex investor you might have specific criteria for trading platform, tools, and research requirements. Understanding your own investment style would help you choose the best Forex broker.

What makes a good Forex Broker?

Many features and benefits are to be considered when choosing online forex broker, some of the most critical factors to be considered are:

1. Regulatory compliance – having all the necessary authorizations and regulations is one of the most important factors, as you might want to make sure that the company is legit, before transferring your finances. Therefore, we recommend you never consider a broker, not regulated by a reputable authority.
2. Trading platforms and tools – the trading platforms that the specific broker offers play an important role in making the best possible trading decisions. Look for platforms that are user friendly and have advanced charting tools, technical indicators and have the ability to execute trades fast and efficiently.
3. Spreads and Commissions – there are three forms of commission used by forex brokers in the commission structure. Some of them offer firm spread, other variable spread and third charge a commission based on the percentage of the spread. So, which one is the best choice? The answer to this question will depend on your personal preferences, the size of your trading account and the amount of money you are willing to pay for the services provided (please find more information about Spreads and Commission under section “How to choose a Forex Broker?” To help you make the best decision).
4. Customer support – accessible, knowledgeable, and reliable costumer support is essential when trading Forex. Look for a broker that provides multiple ways to support you – phone, email, live chat. Having someone to help when having some issues and concerns is very important in trading.
5. Reputation – consider clients reviews and testimonials for the broker. In addition, you can check if the broker has their license suspended or if they are any regal proceedings against it.
6. Education and research materials – having educational resources would help you improve your trading skills. On the other hand, that shows the broker has a commitment to their clients’ success.
7. Deposit and withdrawal methods – it is especially important that the broker has easy and convenient methods for depositing and withdrawing money by their users. That would be helpful for the smooth operation of your finances.

Please find detail descriptions of the key factors under section “How to choose a Forex Broker?”

By gathering all the most current data available for each Forex Broker and analyzing and interpreting this data, we have identified the best Forex Brokers for 2024:

• FxPro – Best overall Broker/Most trusted Broker
• Trade Nation– Excellent broker/Fully Regulated
• SAXO BE INVESTED – Great broker/Excellent for Advanced Traders
• Plus500 – Great broker/Excellent demo account and educational resources for beginner traders combined with good web trading platform for advanced traders
• ETORO – Excellent all-round offering
• CMC markets – Excellent all-round offering

Let’s have a closer look at the top three of the best forex brokers for 2024.

FxPro – The best overall broker/Most trusted broker

FxPro is a globally trusted broker, having more than 15 years of excellence, trading with thousands of instruments, having fast execution and deep liquidity. Having 100+ UK and International awards makes this broker the best overall broker to choose. FxPro has four trading platforms to choose from and 24/5 multilingual costumer support.

1. Regulation – founded in 2006, regulated in one tier-1 jurisdiction and two tier-2 jurisdictions, making it a safe (low-risk) broker for trading forex and CFDs. FxPro is authorized and regulated by Financial Conduct Authority (FCA) (registration no. 509956), by the Cyprus Securities and Exchange Commission (CySEC) (license no. 078/07), by the Security Commission of The Bahamas (SCB) (license no. SIA-F184), by the Financial Sector Conduct Authority(‘FSCA’) (authorization no. 45052).
2. Trading Platforms and tools– FxPro provides their clients with a wide range of desktop, web and mobile trading platforms including FxPro platform, Meta Trader 4, Meta Trader 5 and cTrader. The platforms are characterized by high quality execution, advanced trading tools and technical indicators.
3. Spreads and Commissions-all trades in FxPro are executed in No Dealing Desk intervention (please find more information about No Dealing Desk brokers under section “What does a Forex Broker do?”). It is safe to say that FxPro’s fees are low in general. FxPro on most platforms does not charge commission fees, only a spread. FxPro clients can expect commission charges (but with lower spread) only on their cTrader platform for FX and Metal with charges of $35 per million USD traded.
4. Costumer support – FxPro has excellent multilingual costumer support 24/5 including phone (with option request a call back), live chat support and email support. Besides that, in their website you can find help section with the most frequently asked questions.
5. Reputation – FxPro is considered the one of the most trusted and reputable forex brokers in the industry. It serves in more than 173 countries. It has won more than 105 awards for the quality of its services. It is regulated by the FCA, CySEC, FSCA AND SCB. It has excellent clients testimonials.
6. Education and research materials – FxPro offers a variety of educational for beginner and advanced traders. The educational resources include basic education course, advanced education course, basics forex course, fundamental analyses course, technical analysis course, phycology course, advanced fundamental analyses, CME Group education course. They provide their clients with the latest Forex news in the industry.
7. Deposit and Withdrawal Methods– FxPro offers its clients easier and more convenient funding and withdrawal method called FxPro Wallet. You can transfer funds between your FxPro Wallet and your trading account any time you need. FxPro also accepts Bank transfers, broker to broker transfer and Credit/Debit card fundings. FxPro does not charge fees for bank wire transactions. The withdrawals typically take one business day for the funds to be available and they are also free.

Trade Nation – Excellent Broker/Fully Regulated

Trade Nation has been established in 2014 and since then has gained client trust, providing their customers with excellent trading platforms and innovative trading tools and 24-hour customer support. Trade Nation is fully licensed and regulated. Trade Nation is a global company with teams in the UK, Australia, South Africa, Seychelles, Malaysia, and The Bahamas.

1. Regulation – Trade Nation holds a high number of regulatory licenses. It has been regulated by Financial Conduct Authority, Australian Securities and Investments Commission, Securities Commission of the Bahamas and Financial Sector Conduct Authority.
2. Trading Platforms and tools -Trade Nation has provided a great trading TN platform with features designed for all trading levels. The TN platform is
   customizable and easy to use. Trade Nation offers MetaTrader4 which is the world’s most popular Forex Trading platform. MetaTrader4 is third party platform for forex trading with advanced analysis and automated trading tools. Trade Nation offers their clients TradeCopier app which allow traders to find top traders, look at their portfolios and copy their moves.
3. Spreads and Commission – Trade Nation uses its size to provide traders with consistent pricing across the board. Trade Nation has fixed spread pricing on its MetaTrader platform. The Trade Nation list fixed spread of 0.6 pips for EUR/USD pair. Trade Nation does not charge inactivity and withdrawal fees.
4. Costumer support – Trade Nation has a professional costumer care team available 24/7. They can be reached via phone, live chat, and email.
5. Reputation – Trade Nation has excellent client testimonials and reviews, combined with a clean record in the financial market.
6. Education and research materials – Trade Nation has provided its clients with good educational materials. The educational materials are mostly for
   beginners, but it appears Trade Nation is slowly expanding in this category.
7. Deposit and withdrawal methods – Trade Nation has provided easy and convenient methods to deposit and withdrawal money for their clients.

Saxo Bank – Excellent for Advanced traders

Saxo Bank offers great options and tools for advanced traders and professionals with well-funded accounts. Saxo Bank has fair pricing, an excellent trading platform and tools and great costumer service.

1. Regulation – Saxo Bank was founded in 1992, fully regulated and licensed. Saxo Bank is authorized by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA).
2. Trading Platforms and tools – Saxo offer excellent trading platforms, that include SaxoTraderGO(award-winning trading platform), SaxoTraderPRO(fully customizable, professional-grade platform), Third Party Tools( executing trades from their partnership platforms such as Trading view) and Connectivity and APIs(you can connect to Saxo’s capital markets infrastructure via your preferred interface).
3. Spreads and Commission– overall Saxo Bank offers excellent all-around pricing. Saxo fees are considered to be average. They offer three levels of pricing depending on your account tier – classic, Platinum and VIP. They try to provide to their clients the best rate possible by deriving their prices from a broad range of Tier 1 institutions. These include banks, ECNs and market-making firms with unique liquidity.
4. Costumer support – Saxo Bank has an excellent customer support team available 24/5. They can be breached via phone, live chat, or email.
5. Reputation – Saxo Bank has an excellent regulatory record and has many licenses in Tier 1 and Tier 2 jurisdictions which make it low-risk broker in trading and investing in the Forex market.
6. Educational and research materials – Saxo Bank has great educational resources for advanced traders which will help you build new skills and improve your trading edge. Please note that Saxo Bank is a broker recommended for advanced traders, as it lacks educational materials for beginners and has complicated trading platforms.
7. Deposit and withdrawal methods – Saxo Bank has provided its customers with easy funding and withdrawing methods. Funding methods include Bank transfers and card funding (does not accept third party payments). Saxo takes precautions to ensure your account is secure. For this reason, they only allow withdrawals to account under the costumer’s name.