GET THE BEST START IN FOREX
WITH THE BEST BROKER



Most Popular


Guides to Choose Brokers
What are the Best ECN Brokers?
Divany   995
ECN broker is a type of broker that is often considered to be a step-up for some traders. But how to choose the best ECN broker for you? Find out the answer in this article.
Silvana Lee   3389
It is not easy to profit by scalping. That is why you need the best forex broker to support your scalping strategy.
Divany   1385
Having a broker with zero fees on deposit and withdrawal can help you reduce your trading costs. Follow this article to find 7 brokers that get rid of deposit and withdrawal fees.
If you're looking for a reliable broker with the tightest spreads in the market, the one providing raw spreads can be a good choice.
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Brokers Regulation A-Z
Why Are US Clients Not Accepted in Many Forex Brokers?
Divany   536
If you're a trader from the US, you may wonder why many forex brokers operate globally but refuse to accept US clients. Find out the answer in this article.
Aisha   326
The existence of forex brokers with multiple licenses creates the illusion of higher credibility. But the facts about trusted forex brokers are not so simple.
Fayth   1342
FSC forex brokers are quite well-known among offshore regulated brokers. There are 3 types of FSC regulations that come from different jurisdictions. Here's the full explanation.
Tomy Z   891
It has been a common knowledge that a good forex broker must be regulated in at least one regulatory entity for safety measures. However, there are some disadvantages that you should recognize about it.


Deposit and Withdrawal
5 Top E-Payments for Forex Deposit and Withdrawal
Divany   1155
What are the best e-payments for deposit and withdrawal in forex trading and why are they recommended? Find out the answer in this article.
Aisha   497
Here is an all-in-one explanation for everything you need to know about FXCM withdrawal methods and fees, also how to solve FXCM withdrawal problems.
Aisha   684
Some forex brokers establish minimum and maximum amount for each funds withdrawal, while some others do not specify any limit.
With only $5, you can delve into the lucrative forex market and earn profits as much as you can.
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How to Avoid Broker Scams
5 True Stories of Forex Broker Scams
Divany   897
In forex trading, scamming practices are often carried by the brokers. That is why as a trader, you must know which broker that must be avoided to minimize the risk of being scammed.
Divany   1335
The danger of money game has now reached the forex industry. Several of them have disguised themselves to attract new forex traders who can't tell the difference between a legit forex broker and a money game.
Aisha   1276
To recognize forex broker scams, we need to know how scams could be done, then discern characters of forex brokers who might be scammers.
Ryan Singh   685
Knowing blacklisted forex brokers would help you avoid unnecessary loss from trading in the wrong broker. Many are from different forex scams, so it's better to learn about them.


READY TO TRADE?

Forex demo account is where you can get a risk-free simulation with the real market experience.

Where to open a demo account? The choice is all yours:

Rating:

Year Established: 2007

IC Markets is a fitting destination for active traders looking for a well-regulated broker.

Are you ready to start here?


Rating:

Year Established: 2008

The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, Exness can be your best choice.

Are you ready to start here?


HAVING PROBLEMS WITH A BROKER?

Tell us your experience here!
"A PROBLEM SHARED IS A PROBLEM HALVED"

HOW TO TRADE WITH THE BEST PLATFORM?

A favorite among traders worldwide, MetaTrader is "the standard" when it comes to retail trading.

Where can you access it? MetaTrader is available in MetaQuotes' official website and almost every CFD broker out there. To simplify your quest, these two brokers can be a good start to trade with Metatrader:

Rating:

Year Established: 2007

When it comes to trading platform, IC Markets MetaTrader series is optimized to support the best trading experience across multiple devices.

Do you want to try the platform?


Rating:

Year Established: 2008

Provided as the world's leading platform with competitive edges in terms of flexible trading, analytics, autotrading, and security, Exness MetaTrader series is available in many devices.

Do you want to try the platform?


Top-Tier Regulated Brokers
Broker Regulation Min Deposit Rating
OANDA CFTC/NFA 0325821
FCA (UK), 54257
FSA (Japan), 1571
FSC (BVI), SIBA/L/20/1130
Kanto Local Finance Bureau (Japan), 2137
MFSA, 18.12.2020
$1
3.79/5
FBS ASIC 426359
CySEC, 331/17
FSCA (South Africa), 50885
IFSC (Belize), IFSC/000102/310
FCA temporary permit 808276
$1
3.28/5
HotForex Capital Markets Authority of Kenya, 26/01/2022
CySEC, 183/12
DFSA (Dubai), F004885
FCA (UK) 801701
FSA (Seychelles), 8419176-1
FSA (St. Vincent & the Grenadines), 22747
FSC (Mauritius), 094286
FSCA (South Africa), 466
$5
3.81/5
Tickmill BaFin, 146511
CySEC, 278/15
FCA (UK), 717270
FSA (Seychelles), SD008
FSCA (South Africa), 49464
$100
3.91/5
OctaFX CySEC, 372/18
FCA (UK), 679306
IFSA (St. Vincent and Grenadines), 19776 IBC 2011
$100
3.59/5

Broker Finder

Follow the questions to find your destined broker

Website
www.xm.com
Spread
Variable
Regulation
ASIC, 443670
Min Deposit
$5
Established
2009

Interest rate on funds
Bonus offers
Free education
Personal manager
Trading by telephone
Segregated accounts
Affiliate program
Islamic accounts available
Requires sending documents via postal mail
Payment
CashU
Credit/debit cards
FasaPay
giropay
iDEAL
Moneta.Ru
Neteller
paysafecard
QIWI
Skrill
SOFORT
UnionPay
WebMoney
Western Union
Wire transfer

Established in 2009, XM is a member of an online brokerage company called Trading Point of Financial Instruments Ltd. In providing clients on a global scale, the company has branched into XM Australia and XM Global, and XM Cyprus. Each member has different headquarters and licenses, with XM Australia registered under the Australian Securities and Investment Commission (reference number: 443670), XM Global under the IFSC (60/354/TS/19), and XM Cyprus under the Cyprus Securities and Exchange Commission (reference number: 120/10).

XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.

In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Commodities, Equity Indices in CFDs, Precious Metals, Energies, to Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.

Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. Instead of providing maximum leverage on the scale of 1:500 or 1:1000 (round numbers), XM chooses to limit their leverage on a 1:888 scale, a unique number that is now widely recognized as XM's trademark.

To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. The deposit starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.

For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.

XM also provides an Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).

All in all, there is no doubt that XM has gone global with its deep commitment to providing trading services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.



Spread
Fixed
Regulation
CFTC/NFA, 0325821
Min Deposit
$1
Established
1995

Interest rate on funds
Trading contests
Free education
PAMM accounts
Segregated accounts
Managed accounts
US traders are welcome
Payment
Credit/debit cards
Neteller
Skrill
Wire transfer

Traders looking for brokers with accurate precision, OANDA can be an option. That is because OANDA is a broker that provides quotes with 5-digit accuracy and active price movements that follow market developments. Order execution speed is also faster in this broker.

It provides benefits for novice traders, as they can trade with smaller volumes using the calculation system based on currency value, unlike other brokers adopting the lot system.

Founded in 1996, OANDA was built by Dr. Michael Stumm who is a lecturer in Computer Engineering at the University of Toronto, Canada, along with his colleague, Dr. Richard Olsen of The Olsen Ltd., which is one of the leading econometric research institutes. They have a head office in San Francisco, United States.

OANDA branch offices can be found everywhere. Some of these offices are located in the United Kingdom, Singapore, Japan, and Canada. With this number of offices spread, OANDA has increasingly attracted the attention of clients worldwide.

OANDA's company is registered under several well-known jurisdictions in financial trading. They are regulated by CFTC and NFA in the US, FCA in the UK, ASIC in Australia, and many others. Traders do not need to worry anymore about security when trading in OANDA. However, these advantages make trading rules at OANDA more stringent compared to other brokers.

For example, OANDA only allows maximum leverage of 1:50, because the rules in the US and Japan do not allow leverage above that. Besides, the registration procedure is more complex due to various additional requirements that are not submitted by other forex brokers. On top of that, hedging is not allowed in one trading account as the client must open an additional account to hedge.

Nevertheless, OANDA is known for being a leading broker with many advantages offered. OANDA faces increased market risk during periods of price volatility, such as economic and political news announcements. When market spreads increase or decrease, their pricing engine widens or narrows spreads accordingly. That way, traders can get the latest conditions from price movements in the market more quickly.

Prices move very fast in the market. Especially when news releases have a large impact on market volatility. This condition is often exploited by brokers to take advantage of clients with Requotes. However, traders do not need to worry about additional costs when trading with OANDA.

The company never withdraws Requotes so traders can get maximum profit. When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses.

As an experienced and well-known online forex broker, OANDA is committed to maintain an efficient trading environment that reduces latency and provid tools to help clients manage the degree of acceptable slippage.

With a fast & reliable trading platform by OANDA, clients' trades are executed in 0.012 seconds. This suits traders who choose brokers based on execution speed.

Because of this exceptional execution service, it is not surprising that OANDA won many awards, including the winner of the world's Best Retail FX Platform at the prestigious e-FX awards. The broker is also voted number 1 for Consistency of filling trades at quoted prices, Execution speed, and Reliability of platforms.

There is no minimum deposit or minimum balance required to open an OANDA account. Deposit and withdrawal can be done easily. OANDA provides a variety of payment method facilities, including Paypal, Wire Transfer, Credit Card, and Debit. Traders can adjust it to the region where they live.

OANDA provides more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent Crude Oil, Copper, Corn, Natural Gas, Soybeans, Sugar, etc.), 6 Bonds, and 23 Metals.

The fxTrade and MetaTrader platform are available at OANDA. These platforms can be used for Desktop and Mobile. Another plus is they have an OANDA Technical Analysis that exists in collaboration with a technical analysis provider called Autochartist.

With these platforms, clients can monitor price movements easier and automatically recognize patterns created on charts, as well as receive alerts when the awaited patterns appear. Access to this technology can be enjoyed free of charge.

In conclusion, OANDA is an ideal broker for traders in need of fast execution backed by many years of experience. The company is also a good alternative for those looking for a well-regulated broker with flexible trading and deposit conditions.

Compare Brokers

You Can Compare More than One Broker

Broker Min Deposit Spread Commission Rating
Axi $1 Variable $7
4.54/5
Exness $1 Variable and Fixed $3.50
4.16/5
FBS $1 Fixed and Variable $6
3.28/5
FIBOGroup $1 Variable and Fixed $3
3.64/5
FXCM $1 Fixed $4
1.00/5
Website
www.mifx.com
Spread
Variable
Regulation
BAPPEBTI
Min Deposit
$500
Established
2000



social trading
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Spread
Fixed and Variable
Regulation
ASIC, 28381
Min Deposit
$100
Established
2001

Bonus offers
Trading contests
Free education
Trading by telephone
PAMM accounts
MAM accounts
Segregated accounts
Affiliate program
Islamic accounts available
Payment
AstroPay
Bitcoin
Credit/debit cards
iDEAL
Neteller
PayPal
Skrill
SOFORT
Wire transfer

Spread
Variable
Regulation
ASIC, ACN 123 289 109
Min Deposit
$200
Established
2007

Interest rate on funds
Free education
PAMM accounts
MAM accounts
Segregated accounts
Managed accounts
Payment
Bitcoin
BPAY
Credit/debit cards
FasaPay
Neteller
PayPal
Skrill
UnionPay
Wire transfer

IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).

On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.

Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.

The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.

For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.

As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.

To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.


Spread
Variable and Fixed
Regulation
CySEC, 178/12
Min Deposit
$1
Established
2008

Trading contests
Free education
PAMM accounts
LAMM accounts
Segregated accounts
Affiliate program
Islamic accounts available
Payment
Bitcoin
Credit/debit cards
Neteller
Perfect Money
Skrill
Tether (USDT)
WebMoney
Wire transfer

The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.

Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.

Not only that, but traders can also enjoy other advantages such as an automatic fund withdrawal system. If a trader withdraws funds through the e-Payment facility provided by Exness, the processing time is instant and goes straight into the account. This means that when traders make a withdrawal, everything happens automatically without human intervention.

The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.

Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable for delays in processing deposits and withdrawals if such delays are caused by the payment system.

Traders do not need to worry about transaction fees when depositing and withdrawing. When trading on Exness, transaction fees are not charged to traders. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.

All information displayed on the Exness website is tested and proven. Their business is audited quarterly by Deloitte, which is an audit company for financial services.

Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.

The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.

Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.

One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.

Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.

Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.

When trading with Exness, profit opportunities generated by traders also increase with VPS hosting services. This feature helps to maintain trading activities to progress smoothly and without interruption in the event of unexpected troubles such as lost internet connection or electricity problems that shut down traders' PCs unanticipatedly.

From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.



Website
www.xtb.com
Spread
Variable
Regulation
CNMV (Spain), 40
Min Deposit
$1
Established
2002

Free education
Personal manager
PAMM accounts
Segregated accounts
Affiliate program
Islamic accounts available
Payment
Credit/debit cards
Neteller
PayPal
Skrill
Wire transfer

With more than 15 years of experience, XTB (rebranded from X-Trade since 2009) is one of the largest brokers in the world. They have offices in more than 10 countries, including Belize, UK, Poland, Germany, Spain, and France. XTB Group is regulated by the world's biggest supervision authorities including the IFSC, FCA, KNF, and CySEC.

As a regulated company, XTB holds all retail clients' funds in a fully segregated account, meaning they are not mixed with the broker's operational funds. This enables traders who register in XTB to trade with confidence in their funds' safety.

XTB tries to provide an easy-trading anytime and anywhere. They have a mobile application, xStation to realize that vision. Traders can access financial markets from their fingertips and choose from over 1,500 CFD markets including 48 currency pairs, cryptocurrencies, 20 indices, commodities (gold, oil, silver, etc.), stock, and 60 ETFs from around the world. This application can be downloaded in Google Play and App Store.

Traders also can access their platform by PC. XTB offers a web trade platform with access to more advanced tools for more advanced traders. It's fully compatible with Chrome, Firefox, Safari, and Opera web browser. Traders are provided with fast and reliable trade execution speeds. No wonder this platform has successfully presented XYB with awards such as Best Trading Platform 2016 by Online Personal Wealth Awards. Additionally, MetaTrader 4 is also available when trading in XTB.

XTB charges fees for forex, indices, and commodities trading. The amount of fees differ based on the types of accounts. For example, in Pro Accounts, traders have to pay a commission from $3.5 per lot for forex and a commission from 0.08% per lot for stock CFDs and ETF CFDs.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. When trading, clients have to prepare strategies. Based on XTB's data, 75% of retail investor accounts lose money when trading CFDs. Because of that, clients should consider their level of understanding of CFD trading and their affordability to take high risk.

Traders can increase knowledge by joining XTB's Trading Academy program. There is a vast array of content that's geared towards helping traders, including video tutorials, trading courses, articles, and much more. Traders can choose a topic from different levels of education and enhance their skills across the stages of the trading journey.

Furthermore, there are several ways to deposit funds in XTB, including bank transfer, credit cards (Mastercard, Maestro, Visa), as well as e-Wallets (Skrill, Paysafe, Neteller, and many more). But, some of these methods may incur additional charges. For example, when using Neteller methods, traders have to pay 1% of their deposited amount.

Traders can contact XTB's customer support that is available 24/7. They are ready to answer all of the traders' questions and solve the problems, whether by email, phone, or live chat.

Overall, XTB is recommended as an ideal broker with top-tier regulation and trading platforms. Its education feature is also worth joining in as many traders are still in the process of perfecting their consistency and continue to learn the dynamic change in the forex market.


AUDUSD
86%
14%
EURUSD
65%
35%
GBPUSD
83%
17%
NZDUSD
83%
17%
USDCAD
23%
77%
USDCHF
21%
79%
USDJPY
26%
74%
May 27 2022
From Myfxbook
Broker EUR / USD GBP / USD USD / JPY
FXTM 0.1 0.1 0.0
FXCM 0.2 0.3 0.2
Pepperstone 0.3 0.3 0.1
Tickmill 0.2 0.2 0.4
Forex.com 1.4 2.0 1.3
FBS 0.2 0.1 0.4
Orbex 5.0 4.3 5.0
Exness 0.0 0.0 0.0
Dukascopy 0.4 1.0 0.6
ThinkMarkets 1.8 3.0 2.0
RoboForex 0.8 1.1 1.1
IC Markets 0.1 0.2 0.3
Axiory 0.3 0.7 0.4
XM 0.3 0.3 0.2
InstaForex 3.0 3.0 3.0
FP Markets 0.1 0.1 0.3
BDSwiss 0.4 0.7 0.4
FirewoodFX 1.0 2.0 1.0
IronFX 0.1 0.5 0.3
AvaTrade 0.9 1.5 1.0
OctaFX 0.9 1.4 1.4
Vantage 0.3 0.5 0.3
FxPro 1.5 1.5 1.4
May 27 2022
From Myfxbook
EUR / USD GBP / USD USD / JPY
Tickmill
Short 0.24 -0.22 -0.56
Long -0.56 -0.21 0.10
ETX Capital
Short -0.14 -0.73 -1.19
Long -1.06 -0.69 -0.27
FBS
Short -0.07 -0.39 -0.43
Long -0.64 -0.43 -0.23
OANDA
Short 0.01 -0.09 -0.15
Long -0.06 0.01 0.09
Orbex
Short 0.21 -0.20 -0.65
Long -0.73 -0.12 0.14
ActivTrades
Short 0.01 -0.51 -0.40
Long -0.57 -0.16 -0.21
RoboForex
Short -0.08 -0.41 -0.50
Long -0.68 -0.50 -0.28
IC Markets
Short 0.24 -0.33 -0.37
Long -0.39 -0.28 0.10
InstaForex
Short -2.00 -3.90 -22.50
Long -8.10 -6.90 -13.50
FP Markets
Short 0.12 -0.30 -0.40
Long -0.49 -0.10 -0.03
BDSwiss
Short -0.01 -0.41 -0.44
Long -0.46 -0.22 -0.13
May 27 2022
From Myfxbook
4.62/5

Established: 1998

Min. Deposit: $100

Spread: Fixed and Variable

Leverage: 1:200

Review Visit Dukascopy
4.56/5

Established: 2001

Min. Deposit: $100

Spread: Fixed and Variable

Leverage: 1:400

Review Visit ActivTrades
3.64/5

Established: 2014

Min. Deposit: $100

Spread: Fixed

Leverage: 1:500

Review Visit Juno Markets
4.16/5

Established: 2008

Min. Deposit: $1

Spread: Variable and Fixed

Leverage: 1:2000

Review Visit Exness