Compare Forex Brokers (2024)

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Compare Forex Brokers

Written by ForexBrokers.com

August 29, 2023

The forex brokers comparison tool compares all forex broker ratings, features, and fees side by side. Filter your brokers and compare the most popular brokers and widely used tools, mobile apps, platforms, spreads, and more. To best support your experience, providers are displayed based on your geo location. Please note: Product offerings may vary depending on your country of residence.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% 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 high risk of losing your money.

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check_box_outline_blankcheck_boxACY Securities
check_box_outline_blankcheck_boxAdmirals
check_box_outline_blankcheck_boxAlpari
check_box_outline_blankcheck_boxATFX
check_box_outline_blankcheck_boxAvaTrade
check_box_outline_blankcheck_boxAxi
check_box_outline_blankcheck_boxBDSwiss
check_box_outline_blankcheck_boxBlackBull Markets
check_box_outline_blankcheck_boxCapital.com
check_box_outline_blankcheck_boxCity Index
check_box_outline_blankcheck_boxCMC Markets
check_box_outline_blankcheck_boxDooPrime
check_box_outline_blankcheck_boxeasyMarkets
check_box_outline_blankcheck_boxEightcap
check_box_outline_blankcheck_boxeToro
check_box_outline_blankcheck_boxFineco Bank
check_box_outline_blankcheck_boxFlowBank
check_box_outline_blankcheck_boxFOREX.com
check_box_outline_blankcheck_boxForex4you
check_box_outline_blankcheck_boxFP Markets
check_box_outline_blankcheck_boxFXCM
check_box_outline_blankcheck_boxFXGT.com
check_box_outline_blankcheck_boxFXOpen
check_box_outline_blankcheck_boxFXPrimus
check_box_outline_blankcheck_boxFxPro
check_box_outline_blankcheck_boxGBE brokers
check_box_outline_blankcheck_boxGKFX
check_box_outline_blankcheck_boxHFM
check_box_outline_blankcheck_boxHYCM (Henyep Capital Markets)
check_box_outline_blankcheck_boxIC Markets
check_box_outline_blankcheck_boxIFC Markets
check_box_outline_blankcheck_boxIG
check_box_outline_blankcheck_boxInteractive Brokers
check_box_outline_blankcheck_boxIronFX
check_box_outline_blankcheck_boxLegacyFX
check_box_outline_blankcheck_boxLibertex (Forex Club)
check_box_outline_blankcheck_boxMarkets.com
check_box_outline_blankcheck_boxMoneta Markets
check_box_outline_blankcheck_boxMultiBank
check_box_outline_blankcheck_boxOANDA
check_box_outline_blankcheck_boxOcta
check_box_outline_blankcheck_boxPepperstone
check_box_outline_blankcheck_boxPlus500
check_box_outline_blankcheck_boxRoboForex (RoboMarkets)
check_box_outline_blankcheck_boxSaxo Bank
check_box_outline_blankcheck_boxSpreadex
check_box_outline_blankcheck_boxSwissquote
check_box_outline_blankcheck_boxTD Ameritrade
check_box_outline_blankcheck_boxTeleTrade
check_box_outline_blankcheck_boxThinkMarkets
check_box_outline_blankcheck_boxTickmill
check_box_outline_blankcheck_boxTMGM
check_box_outline_blankcheck_boxTopFX
check_box_outline_blankcheck_boxTrade Nation
check_box_outline_blankcheck_boxTrade360
check_box_outline_blankcheck_boxTrading 212
check_box_outline_blankcheck_boxVantage
check_box_outline_blankcheck_boxVestle
check_box_outline_blankcheck_boxVT Markets
check_box_outline_blankcheck_boxXM Group
check_box_outline_blankcheck_boxXTB
check_box_outline_blankcheck_boxXtrade

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(78% of retail CFD accounts lose money.)

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(69% dei conti al dettaglio di CFD perdono denaro)

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(81.0% of retail CFD accounts lose money.)

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Overall Rating	IG	CMC Markets	FOREX.com	FP Markets
Overall Ratinginfo
Commissions & Fees
Offering of Investments
Platform & Tools
Mobile Trading
Research
Education
Trust Scoreinfo	99	99	99
Winner	check_circle
Review	IG Review	CMC Markets Review	FOREX.com Review

Broker Screenshots	IG	CMC Markets	FOREX.com	FP Markets
Trading Platforms Gallery (click to expand)info
Mobile Trading Gallery (click to expand)info
Research Gallery (click to expand)info
Education Gallery (click to expand)info

Regulation	IG	CMC Markets	FOREX.com	FP Markets
Trust Scoreinfo	99	99	99
Year Foundedinfo	1974	1989	1999
Publicly Traded (Listed)info	Yes	Yes	Yes
Bankinfo	Yes	No	No
Regulated in one or more EU or EEA countries (MiFID).info	Yes info	Yes info	Yes info
Tier-1 Licensesinfo	8	5	7
Tier-2 Licensesinfo	2	1	1
Tier-3 Licensesinfo	0	0	0
Tier-4 Licensesinfo	1	0	1

Tier-1 Licenses (Highly Trusted)	IG	CMC Markets	FOREX.com	FP Markets
Australia (ASIC Authorised)info	Yes	Yes	Yes
Canada (CIRO Authorised)info	No	Yes	Yes
Hong Kong (SFC Authorised)info	No	No	No
Japan (SFC Authorised)info	Yes	No	Yes
Singapore (MAS Authorised)info	Yes	Yes	Yes
Switzerland (FINMA Authorised)info	No	No	No
United Kingdom (U.K.) (FCA Authorised)info	Yes	Yes	Yes
USA (CFTC Authorized)info	Yes	No	Yes
New Zealand (FMA Authorised)info	Yes	Yes	No
Regulated in one or more EU or EEA countries (MiFID).info	Yes info	Yes info	Yes info

Tier-2 Licenses (Trusted)	IG	CMC Markets	FOREX.com	FP Markets
Kenya (CMA Authorised)info	No	No	No
Israel (ISA Authorised)info	No	No	No
South Africa (FSCA Authorised)info	Yes	No	No
UAE (DFSA/Central Bank Authorised)info	Yes	Yes	Yes
India (SEBI Authorised)info	No	No	No
Jordan (JSC Authorised)info	No	No	No

Investments	IG	CMC Markets	FOREX.com	FP Markets
Forex Trading (Spot or CFDs)info	Yes	Yes	Yes
Tradeable Symbols (Total)info	19537	12074	5500
Forex Pairs (Total)info	97	156	91
U.S. Stock Trading (Non CFD)info	Yes	Yes	No
Int'l Stock Trading (Non CFD)info	Yes	Yes	No
Social Trading / Copy Tradinginfo	No	Yes	No
Cryptocurrency (Physical)info	No	No	No
Cryptocurrency (Derivative)info	Yes	Yes	Yes
Disclaimers	Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).	Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).	Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Cost	IG	CMC Markets	FOREX.com	FP Markets
Average Spread EUR/USD - Standardinfo	0.98 info	0.61 info	1.4 info
All-in Cost EUR/USD - Activeinfo	0.82 info	0.51 info	1.0 info
Active Trader or VIP Discountsinfo	Yes	Yes	Yes
Inactivity Feeinfo	Yes	Yes	Yes
Execution: Agency Brokerinfo	Yes	No	No
Execution: Market Makerinfo	Yes	Yes	Yes

Funding	IG	CMC Markets	FOREX.com	FP Markets
Minimum Depositinfo	£250.00	$0	$100
PayPal (Deposit/Withdraw)info	Yes	Yes	Yes
Skrill (Deposit/Withdraw)info	No	No	No
Visa/Mastercard (Credit/Debit)info	Yes	Yes	Yes
Bank Wire (Deposit/Withdraw)info	Yes	Yes	Yes

Trading Platforms	IG	CMC Markets	FOREX.com	FP Markets
Proprietary Platforminfo	Yes	Yes	Yes
Desktop Platform (Windows)info	Yes	Yes	Yes
Web Platforminfo	Yes	Yes	Yes
Social Trading / Copy Tradinginfo	No	Yes	No
MetaTrader 4 (MT4)info	Yes	Yes	Yes
MetaTrader 5 (MT5)info	No	No	Yes
cTraderinfo	No	No	No
DupliTradeinfo	No	No	No
ZuluTradeinfo	No	No	No

Trading Tools	IG	CMC Markets	FOREX.com	FP Markets
Virtual Trading (Demo)info	Yes	Yes	Yes
Alerts - Basic Fieldsinfo	Yes	Yes	Yes
Watchlists - Total Fieldsinfo	5	11	20
Charting - Indicators / Studies (Total)info	33	79	88
Charting - Drawing Tools (Total)info	20	40	239
Charting - Trade From Chartinfo	Yes	Yes	Yes
Charts can be savedinfo	Yes	Yes	Yes

Mobile Trading	IG	CMC Markets	FOREX.com	FP Markets
Android Appinfo	Yes info	Yes	Yes
Apple iOS Appinfo	Yes	Yes	Yes
Mobile Alerts - Basic Fieldsinfo	Yes	Yes	Yes
Mobile Watchlistinfo	Yes	Yes	Yes
Watchlist Syncinginfo	Yes	Yes	Yes
Mobile Charting - Indicators / Studiesinfo	33	29	88
Mobile Charting - Draw Trendlinesinfo	Yes	Yes	Yes
Mobile Charting - Multiple Time Framesinfo	Yes	Yes	Yes
Mobile Charting - Drawings Autosaveinfo	Yes	Yes	Yes
Mobile Economic Calendarinfo	Yes	Yes	Yes

Research	IG	CMC Markets	FOREX.com	FP Markets
Daily Market Commentaryinfo	Yes	Yes	Yes
Forex News (Top-Tier Sources)info	Yes	Yes	Yes
Autochartistinfo	Yes	Yes	No
Trading Central (Recognia)info	No	Yes	Yes
TipRanksinfo	Yes	No	No
Social Sentiment - Currency Pairsinfo	Yes	Yes	Yes
Economic Calendarinfo	Yes	Yes	Yes

Education	IG	CMC Markets	FOREX.com	FP Markets
Education (Forex or CFDs)info	Yes	Yes	Yes
Client Webinarsinfo	Yes	Yes	Yes
Client Webinars (Archived)info	Yes	Yes	Yes
Videos - Beginner Trading Videosinfo	Yes	Yes	Yes
Videos - Advanced Trading Videosinfo	Yes	Yes	No
Investor Dictionary (Glossary)info	Yes	Yes	Yes

Major Forex Pairs	IG	CMC Markets	FOREX.com	FP Markets
GBP/USDinfo	Yes	Yes	Yes
USD/JPYinfo	Yes	Yes	Yes
EUR/USDinfo	Yes	Yes	Yes
USD/CHFinfo	Yes	Yes	Yes
USD/CADinfo	Yes	Yes	Yes
NZD/USDinfo	Yes	Yes	Yes
AUD/USDinfo	Yes	Yes	Yes
Review	IG Review	CMC Markets Review	FOREX.com Review

Overall	IG	CMC Markets	FOREX.com	FP Markets
Overall Ratinginfo
Commissions & Fees
Offering of Investments
Platform & Tools
Mobile Trading
Research
Education
Trust Scoreinfo	99	99	99
Winner	check_circle
Review	IG Review	CMC Markets Review	FOREX.com Review

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FAQs

What is the number one mistake forex traders make? ›

The Bottom Line

Averaging down, reactive trading to market news and volatility, having exceedingly high expectations, and risking too much capital are common mistakes.

What is the best broker to use for forex? ›

Best Forex Brokers.
CMC Markets: Best Overall and Best for Range of Offerings.
London Capital Group (LCG): Best for Beginners.
Saxo Capital Markets: Best for Advanced Traders.
XTB Online Trading: Best for Low Costs.
IG: Best for U.S. Traders.
Pepperstone: Best for Trading Experience.
Frequently Asked Questions.

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Which broker does not need verification? ›

CoinSwitch is one of the top cryptocurrency exchanges that require no KYC verification since it allows you to trade crypto at the best rates. They allow you to trade 400+ cryptos, cryptocurrencies, and tokens without having to create an account on any exchange.

Discover More Details ›

Who is the No 1 forex trader? ›

George Soros is undoubtedly one of the most successful forex traders in the world. His bold and aggressive trading style has earned him a place in history, and his philanthropic efforts have made a positive impact on many lives. However, his controversial reputation may not sit well with some investors.

Which broker do most traders use? ›

Compare the Best Online Brokers

Broker	Star Rating	Number of No-Load Mutual Funds
Fidelity Investments	4.8	3396
Charles Schwab	4.7	14,900
Interactive Brokers	4.7	19,000+
tastytrade	4.5	0

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Why 90% of forex traders lose money? ›

It is either greed or the prospect of controlling vast amounts of money with only a small amount of capital that coerces forex traders to take on such huge and fragile financial risk. For example, at a 100:1 leverage (a rather common leverage ratio), it only takes a -1% change in price to result in a 100% loss.

Has anyone gotten rich from forex trading? ›

One of the most famous examples of a forex trader who has gotten rich is George Soros. In 1992, he famously made a short position on the pound sterling, which earned him over $1 billion. Another example is Michael Marcus, also known as the Wizard of Odd.

Read On ›

Why do so many people fail at forex? ›

Lack of Discipline

Successful forex trading requires discipline and adherence to a well-defined trading plan. However, many traders fail to develop or stick to a trading plan. They may deviate from their strategies, chase after quick profits, or make impulsive trades based on short-term market fluctuations.

Find Out More ›

Which forex broker is legal in the USA? ›

Overview of the best forex brokers in the USA

Broker	FX commission per lot	Minimum deposit
Oanda	No commission is charged	$0
IG	No commission is charged	$0
Interactive Brokers	Trade value less than $1 billion: 0.2 bps * trade value; min. $2	$0
TD Ameritrade	No commission is charged	$0

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Who is the biggest forex broker in the world? ›

ADVT-based Ranking List

Largest Broker	ADVT (Billion USD)	Regulation
IC Markets	29	ASIC, CYSEC
Saxo	20.1	ASIC, FCA, FSA, AMF, CONSOB, FINMA, MAS
Forex.com	18.6	NFA, ASIC, FCA, FSA, IIROC, CIMA (offshore), MAS
XM	16.08	CYSEC, ASIC, FSC (offshore), DFSA

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How do you know if a broker is scamming you? ›

Let's look at 5 indicators of a forex broker scam that will help you identify these common scam techniques:

Check your Broker's Regulatory Info. ...
Check Regulator's Website Database and Quality. ...
The Broker Guarantees High Immediate Returns. ...
The Broker Does Not Respond to Queries. ...
Read the Clients' Reviews.

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Mar 7, 2024

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Why do most brokers not accept US clients? ›

The reason for this is quite simple - capital requirements. While a broker has to have around $100,000 - $500,000 of locked capital to obtain one of the European licenses, NFA requires quite an enormous amount of capital to be able to operate in the US - 20 million dollars.

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How do I know which broker to use? ›

Choosing the right online broker requires some due diligence to get the most for your money.

Step 1: Know Your Needs. ...
Step 2: Narrow the Field. ...
Step 3: Figure Out the Fees. ...
Step 4: Test the Broker's Platform. ...
Step 5: How Well Does the Stock Broker Educate Its Clients? ...
Step 6: Ease of Depositing and Withdrawing Funds.

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What is the safest forex trading? ›

LiteForex is one of the best Forex trading platforms that offer CFDs on various assets, including digital currencies, commodities, and stock indices. LiteForex provides trading services through its mobile app and web platform, including the popular MetaTrader platform for PC trading.

See Details ›

Can you trust forex brokers? ›

Yes, you can be scammed when trading forex. Unfortunately, there are countless forex scam brokers (and many other forex scams –on the internet. Just like any investment offering, it's important to verify that your forex broker is an authentic financial institution that is appropriately licensed as a broker.

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Which broker is most reliable? ›

Best Overall - Zerodha

Zerodha, a top discount broker, excels in trading and demat account services. Positive reviews, a user-friendly interface, affordable fees, diverse investment options, and useful features like technical indicators and advanced charting tools make it the best choice overall.

Get More Info Here ›

What is the safest forex pair to trade? ›

List of Top 10 Stable Currency Pairs

EUR/USD. The EUR/USD currency pair takes the largest portion of the overall trading volume. ...
GBP/USD. GBP/USD is another heavily traded currency pair. ...
USD/JPY. USD/JPY is the second most traded currency pair. ...
USD/CAD. ...
AUD/USD. ...
USD/CNY. ...
USD/CHF. ...
GBP/JPY.

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