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:
- 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.
- 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.
- 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).
- 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.
- 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.
- 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.
- 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
- IG – Excellent broker/Fully Regulated
- SAXO BE INVESTED – Great broker/Excellent for Advanced Traders
- Plus500 – Great broker/Excellent for beginners
- ETORO – Excellent all-round offering
- XTB – Great broker/ Excellent educational materials
- 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.
- 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).
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
IG – Excellent Broker/Fully Regulated
IG has 46 years of client trust, providing their customers with excellent trading platforms and innovative trading tools and 24-hour customer support. IG is fully licensed and regulated. IG offers great educational programs so their customers can improve their trading skills with expert analysis and educational resources on IG Academy, including webinars, online courses, and interactive quizzes.
- Regulation – IG holds a high number of regulatory licenses. IG currently holds 11 regulatory licenses across a wide range of international jurisdictions. It is considered one of the safest brokers for forex and CFDs trading.
- Trading Platforms and tools -IG has provided great trading platforms with features designed for all trading levels, this includes web-based trading platforms which are customizable and easy to use, mobile (iPhone, android), tablet and MetaTrader4. MetaTrader4 is third party platform for forex trading with advanced analysis and automated trading tools.
- Spreads and Commission – IG uses its size to provide traders with consistent pricing across the board. IG has low trading fees and low non-trading fees. IG charges the difference in the spread (the difference between the bid and ask prices, which can vary depending on market conditions). They have non-trading fees that include overnight funding fees, currency conversion charges and inactivity fees.
- Costumer support – IG has a professional costumer care team available 24/5. They can be reached via phone, live chat, and email.
- Reputation – IG has excellent client testimonials and reviews, combined with a clean record in the financial market.
- Education and research materials – IG has provided to its client IG Academy. It is a program that includes free online courses, webinars and seminars which are designed for beginners and advanced traders.
- Deposit and withdrawal methods – IG has provided easy and convenient methods to deposit and withdrawal money for their clients. They do not charge a fee for depositing funds.
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.
- 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).
- 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).
- 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.
- Costumer support – Saxo Bank has an excellent customer support team available 24/5. They can be breached via phone, live chat, or email.
- 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.
- 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.
- 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.
CFDs are complex instruments and come with a substantial risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the substantial risk of losing your money.
Minimum Depostit $100
5 of 5 stars rating based on analyzing 300+ criteria, testing the brokers’ trading platforms and tools
FxPro serves clients at more than 170 countries worldwide and has more than 100 UK and International awards.
That makes FxPro and best overall broker to choose.
It has four trading platforms to choose from and 24/5 multilingual costumer support.
- Ultra-fast execution- orders are filled in under 13 milliseconds.
- Superb account opening process.
- Excellent trading platforms and tools
- Free deposit and withdrawal
- Inactivity fee – after 6 months of inactivity
Minimum Deposit $250
5/5 stars rating based on analyzing 300+ criteria, testing the broker’s trading platforms and tools.
IG is fully regulated and dedicated to serving over 313,000 clients worldwide, across 16 countries and 5 continents.
IG offers excellent trading package, featuring excellent trading and research tools and great educational resources.
- IG is fully regulated, making it a safe broker (low-risk) for forex and CFDs trading
- Easy to use trading platforms
- Excellent educational Resources
- Low trading and non-trading fees
- The web trading platform needs some manual configuration
- Inactivity fee – after 24 consecutive months of inactivity
Minimum Deposit $2000
4.9/5 stars rating based on analyzing 300+ criteria, testing the broker’s platforms and tools
Having superb trading platforms and excellent trading tools, make Saxo Bank one of the best forex brokers.
Saxo Bank is great choice for advanced traders with well-funded accounts.
- Trading platforms are top of the line.
- Over 40,000 tradeable instruments
- Excellent customer service
- High Minimum Deposit
- Recommended for Advanced traders. Beginners may find its platforms complicated to use
Minimum Deposit $100
4.7/5 stars rating based on analyzing 300+ criteria and testing the broker’s trading platforms and tools.
It is secured and protected, licensed, and regulated by variety of global regulators and has professional costumer service support.
The company is a rapidly growing CFD provider and currently offers its portfolio of over 2800 instruments.
- Founded in 2008, Plus500 is regulated in four tier-1 jurisdictions and four tier-2 jurisdictions.
- User – friendly web trading platforms, great for beginner traders
- Advanced trading tools
- Easy account opening process
- Withdrawal takes longer time
- May not attract advanced traders, because of narrow selection of market research
4.7/5 stars rating based on analyzing 300+ criteria and testing the broker’s trading platforms and tools
It is market-leading global investment community where traders have the ability to copy the trades of experienced investors and opportunity to get in touch with their investing strategies.
It has multi-assets trading platforms.
- Fully licensed and regulated.
- Multi – asset platforms
- User friendly platforms, make eToro great for beginner users
- Social trading- a community of over 30 million users
- Investing with experts – unique portfolios and ability to copy top traders
- Algorithmic trading strategies are not supported at eToro
- Stops-loss and take-profit mandatory on trades
Minimum Deposit $0.00
4.7/5 stars rating based on analyzing 300+ criteria and testing the broker’s platforms and tools.
CMC Markets is fully licensed and regulated, worldwide trusted broker.
- Founded in 1989, CMC Markets is publicly traded and regulated in five tier-1 jurisdictions alongside two tier-2 jurisdictions, making it a safe broker (low-risk) for trading forex and CFDs;
- CMC markets has low trading cost;
- CMC MARKETS has excellent intuitive online trading platforms.
- Costumer support only 24/5;
- Inactivity fee $15 per month for inactivity over 1 year.
Minimum deposit 0$
4.6/5 stars rating based on analyzing 300+ criteria and testing the broker’s platforms and tools.
XTB has great trading platforms, excellent market research tools and experienced costumer service team.
XTB is one of the largest FX & CFD brokers in the world.
XTB is regulated by some of the world’s biggest supervision authorities: FCA, KNF, CySEC, and FSC.
- XTB is fully licensed and regulated one tier-1 jurisdiction, making it a safe broker (low-risk) for trading forex and CFDs
- XTB has great trading platforms and market research tools
- Great customer service
- Inactivity fees $10.00 per month, after 1 year of inactivity