The best forex brokers for professional traders are not only determined by the license and years of experience. There are certain features and conditions that have to be met.

Like any other type, professional traders have special needs and unique preferences when it comes to trading. Therefore, finding a broker that's able to accommodate all that is highly crucial. Not all brokers are suitable for everyone, so in this article, we're going to find out what professional traders really need and which brokers offer the best deals.

Forex Brokers for professional traders

 

What Makes a Broker Good for Professionals?

As mentioned before, professional traders have special needs and trading preferences. When it comes to choosing a broker, there are several aspects that need to be considered, such as:

 

The Availability of a Professional Account

Brokers usually provide several account types at once. They can base the difference on many factors, but the most common consideration is regarding the level of trader experience. Hence, many brokers typically have different sets of accounts for beginners, intermediate traders, and professional traders.

A professional account is special in its conditions like having much higher minimum deposits, no limit at maximum orders, more tools to accompany various trading strategies, advanced platforms, and even an option to be an account manager or strategy provider. The purpose of this account is not to help traders get affordable trading conditions and limit risks, but to optimize whatever strategy is carried out by the traders. That is because professional traders are supposed to maintain their winning rates rather than trying out different systems to find out which one suits them best.

If a professional account is not specifically provided, a broker can still be suitable for professional traders if they offer an option to upgrade clients' status from retail to professional. This upgrade surely needs certain requirements that only professional traders can fulfill.

 

The Amount of Maximum Leverage

Many people regard professional traders as wise enough to not use higher leverage. But if we're talking about a professional trading account in forex brokers, especially the EU and ASIC-regulated ones, high leverage is meant for professional traders only. This is the right way of regulating leverage as opposed to making it available for all traders since beginners tend to choose high leverage without really knowing the high risks.

Therefore, well-regulated brokers in this era only make high leverage available for professional traders. It can go as high as 1:200 to 1:500, a contrast from common leverage for retail traders which are limited to 1:30 or 1:50 at max. Even so, it is not easy to get high leverage as a trader has to prove their professional status by complying with whatever requirements set up by the brokers to ensure that the trader would be responsible enough in handling high leverage.

 

The Trading Perks

Professional traders tend to utilize much advanced strategies and tools as they are experienced in using them. For example, rather than the common buy and sell orders, professional traders could depend on OCO orders to maximize their news trading. Another example, a professional trader would prefer to use a DoM (Depth of Market) platform as they consider it necessary as one of their trading parameters.

Therefore, a good broker for professional traders should offer many trading perks beyond the usual trading features. The more tools and sophisticated the service, the better it would be for professional traders.

 

The Protection of Clients' Funds

Unlike beginners or retail traders who like to trade small, professional traders tend to go with big capital so they can have a significant amount of profits. This leads them to take funds protection very seriously. For a starter, they would make sure that the broker has years of experience behind them, is registered in at least 1 top-tier jurisdiction, provides a segregated account, and presents safe deposit and withdrawal methods. A broker for professional traders may need to also have negative balance protection, a compensation scheme, or even funds insurance programs.

Based on the criteria above, here are some major brokers that offer great deals for professional traders.

 

IC Markets

IC Markets is a reliable broker suitable for experienced traders. By applying to this broker, traders can get access to more than 2,000 tradable assets, including over 60 forex pairs.

IC Markets does not exactly offer a specific account for professional traders, but it allows traders to submit a re-categorization application from retail to professional. Upgrading to a professional client can be done with no additional cost. One of the biggest perks is that you can get higher leverage than regular traders. Normally, the broker is required to restrict leverage 1:30 and 1:10 on the products offered to retail clients, but as a professional client, such restrictions simply don't apply to you.

Here's a general overview of IC Markets as a broker for professional traders:

🏢BrokerIC Markets
⌛Year Established2007
💼Regulation(s)ASIC, CySEC, SCB, and The Financial Commission
💲Minimum Deposit$200
⚖Leverage for Professional TradersUp to 1:500
🔧Trading Perks
  • Free VPS
  • Raw spreads
  • Depth of Market
  • Advanced MT4 trading tools
  • NY4 and LD5 IBX Equinix Data Centres in New York and London
👨‍💼Professional Account
💹Upgrade to Professional Client✔️
💳Deposit and WithdrawalBank transfers, credit/debit cards, Skrill, Neteller, PayPal, etc.
🏛Segregated Account✔️
♻️Negative Balance Protection✔️
💵Compensation Scheme✔️
💸Insurance Program✔️

 

Admirals

As one of the most experienced brokers in the industry, there's no doubt that Admirals fit the description of a good broker for professional traders. There are a number of analytical tools provided after registering with this broker, and their services for professional clients are up to European as well as Australian standards.

Here's a general overview of Admirals as a broker for professional traders:

🏢BrokerAdmirals (previously known as Admiral Markets)
⌛Year Established2001
💼Regulation(s)FCA, EFSA, CySEC, JSC, and ASIC.
💲Minimum Deposit$1 for invest.MT5 account
⚖Leverage for Professional TradersUp to 1:500
🔧Trading Perks
  • Free VPS
  • One-click trading
  • MetaTrader Supreme Edition
  • Five international offices to choose from
  • Insurance coverage up to 100,000 USD
👨‍💼Professional Account✔️
💹Upgrade to Professional Client✔️
💳Deposit and WithdrawalBank transfer, Visa and MasterCard, Skrill, Neteller, POLi
🏛Segregated Account✔️
♻️Negative Balance Protection✔️
💵Compensation Scheme✔️
💸Insurance Program✔️

 

Pepperstone

Pepperstone is a reliable Australian broker that was created by professional traders who were not satisfied with the quality provided by most brokers. Today, the broker offers one of the best trading conditions for clients from all over the world. After opening an account in this broker, you can choose from more than 1,200 CFDs including over 60 currency pairs and other assets.

Here's a general overview of Pepperstone as a broker for professional traders:

🏢BrokerPepperstone
⌛Year Established2010
💼Regulation(s)FCA, CySEC, ASIC, DFSA, and SCB
💲Minimum Deposit$200
⚖Leverage for Professional TradersUp to 1:500
🔧Trading Perks
  • Exclusive events
  • Open large position sizes
  • Access to credit facility
  • Transfer a large amount of money easily
  • Free VPS
👨‍💼Professional Account✔️
💹Upgrade to Professional Client✔️
💳Deposit and WithdrawalVisa and MasterCard, POLi, Bank transfer, BPay, PayPal, Neteller, Skrill, Union Pay
🏛Segregated Account✔️
♻️Negative Balance Protection✔️
💵Compensation Scheme✔️
💸Insurance Program✔️

 

Interactive Brokers

Interactive Brokers has always been quite a trustworthy broker for active professional traders. The broker offers more than 10,000 tradable CFD assets that might appeal to advanced traders. The trading platform tends to satisfy advanced traders more as there is an unmatched range of tradable securities and trading tools to use.

Interactive Brokers offers IBKR Pro Account for professional investors and active traders. This type of account comes with several special benefits, such as access to IBKR API and IB SmartRouting. The latter enables traders to get the best execution by searching for the best available prices for various assets and combinations of assets across exchanges and dark pools.

Here's a general overview of Interactive Brokers as a broker for professional traders:

🏢BrokerInteractive Brokers
⌛Year Established1977
💼Regulation(s)FCA, FINRA, ASIC, CFTC, FSA, MAS, and SEC
💲Minimum Deposit$10,000
⚖Leverage for Professional TradersUp to 1:50
🔧Trading Perks
  • Low margin rates
  • No-transaction-fee mutual funds
  • Powerful trading platform
  • Earn interest of up to 3.33% USD on idle cash
  • No inactivity fee
👨‍💼Professional Account✔️
💹Upgrade to Professional Client✔️
💳Deposit and WithdrawalBank transfer
🏛Segregated Account✔️
♻️Negative Balance Protection✔️
💵Compensation Scheme✔️
💸Insurance Program✔️

 

IG Markets

IG Markets is a popular broker that's widely known to be a great choice for professional traders. The award-winning broker has proven to offer a comprehensive trading package that features various research and educational tools, an impressive range of tradable markets, and high security. 

Here's a general overview of IG Markets as a broker for professional traders:

🏢BrokerIG Markets
⌛Year Established1974
💼Regulation(s)FCA, ASIC, BaFin, MAS, DFSA, FMA, FINMA, CFTC, etc.
💲Minimum Deposit$1
⚖Leverage for Professional TradersUp to 1:250
🔧Trading Perks
  • Specialist platforms and charting - L2 dealer, proRealTime, and MT4
  • Award-winning apps optimized for all devices
  • 24/7 customer service
  • Easy account opening
  • IG Smart Portfolio and share-dealing
👨‍💼Professional Account✔️
💹Upgrade to Professional Client✔️
💳Deposit and WithdrawalBank transfer and credit/debit card
🏛Segregated Account✔️
♻️Negative Balance Protection✔️
💵Compensation Scheme✔️
💸Insurance Program✔️

 

Saxo Bank

Saxo Bank is a well-known multi-asset broker that offers more than 60,000 tradable instruments including forex pairs, bonds, ETFs, commodities, crypto derivatives, and more. The broker has over 850,000 clients from over 170 countries worldwide and more than 270,000 trades executed daily. Suitable for active traders, Saxo Bank provides a rich and memorable experience with an immense range of trading tools, research sources, and premium features.

Here's a general overview of Saxo Bank as a broker for professional traders:

🏢BrokerSaxo Bank
⌛Year Established1992
💼Regulation(s)FSA, FCA, and the Swiss Federal Bank Commission
💲Minimum Deposit$2,000
⚖Leverage for Professional TradersUp to 1:66
🔧Trading Perks
  • 24-hour expert support
  • Exclusive VIP services
  • Outstanding research sources
  • Managed portfolios
👨‍💼Professional Account✔️
💹Upgrade to Professional Client✔️
💳Deposit and WithdrawalBank transfer, credit/debit card
🏛Segregated Account✔️
♻️Negative Balance Protection✔️
💵Compensation Scheme✔️
💸Insurance Program✔️

 

CMC Markets

CMC Markets is a leading UK-based forex and CFD broker that is fully regulated in several countries. Its long track record indicates that the broker is reliable for professional clients. Not only that, the broker also offers a sense of security since it's under the regulation of several top-tier regulators in the world and a wide range of tradable products including stocks, commodities, bonds, forex pairs, CFDs, ETFs, etc.

Moreover, professional clients can open an exclusive professional account called the CMC Pro and enjoy a number of exclusive benefits at no additional costs. This includes early access to new products and unreleased programs, as well as a personal account manager that will provide special support for its client.

Here's a general overview of CMC Markets as a broker for professional traders:

🏢BrokerCMC Markets
⌛Year Established1989
💼Regulation(s)FCA, FMA, MAS, DFSA, ASIC, IIROC, and BaFin
💲Minimum Deposit$1
⚖Leverage for Professional TradersUp to 1:500
🔧Trading Perks
  • Advanced educational sources
  • Excellent, highly-customizable trading platform
  • Comprehensive market research
  • Dynamic Trading for professional clients
👨‍💼Professional Account✔️
💹Upgrade to Professional Client✔️
💳Deposit and WithdrawalBank transfer, credit/debit card
🏛Segregated Account✔️
♻️Negative Balance Protection✔️
💵Compensation Scheme✔️
💸Insurance Program✔️

 

City Index

City Index is another excellent choice of broker for professional traders. The broker is known to offer some of the best trading and analysis tools to help traders make better trades. It also offers a bunch of great trading conditions and account types, including the Professional Trader Account which aims to benefit highly experienced traders.

Here's a general overview of City Index as a broker for professional traders:

🏢BrokerCity Index
⌛Year Established1983
💼Regulation(s)FCA, ASIC, and MAS
💲Minimum Deposit$250
⚖Leverage for Professional TradersUp to 1:400
🔧Trading Perks
  • Diverse research tools
  • SMART signals subscription with an in-house engine
  • Well-designed, versatile mobile trading app
  • Rich educational materials for beginners and professionals
👨‍💼Professional Account✔️
💹Upgrade to Professional Client✔️
💳Deposit and WithdrawalBank transfer, credit/debit card, PayPal
🏛Segregated Account✔️
♻️Negative Balance Protection✔️
💵Compensation Scheme✔️
💸Insurance Program✔️

 

The Bottom Line

As explained in the article above, professional accounts surely offer many interesting benefits such as higher leverage and access to more sophisticated tools. You’ll get more freedom with your trades and will be treated as a professional.

However, it is important to note that professional accounts are also very risky. As a professional client, you'll waive some of the protections made for retail traders as some brokers choose to deactivate some of their safety features like the Negative Balance Protection for professional traders. This policy is simply made with a consideration that professional traders tend to be wise and smart enough to not endanger their accounts.