Trading forex in Malaysia used to be illegal. Some traders were jailed for their activities even though they were not scamming. The environment has changed for the better since then, but a trusted broker is essential for your trading success.

Regulation for trading has been enforced to forex brokers in most countries for a long time. In its earliest form, the regulation was still very loose, allowing fraudsters and scammers to escape punishment despite the crimes they committed.

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Nowadays, though, regulation is very strict. Unregulated brokers are at risk of being banned for the most part. Licenses must be secured first before a forex broker offering service and their money must be separated from the customers'. In addition, major requirements have increased while leverage has been getting decreased.

malaysian forex brokers

In Malaysia, regulation is relatively new. Not too long ago, forex trading was illegal in the country to the point that traders were jailed. Forex trading was not regulated, thus it was considered against the law. Now, trading is a legal activity and forex dealer is regulated by Bank Negara Malaysia (the national bank of Malaysia). Its main functions as a regulator are to issue licenses for brokers who want to run their business and offer their service to local traders. Investors can send their complaints to the regulator if brokers don't act transparently and fairly towards them.

It is also recommended for Malaysian traders to check if a broker holds a Capital Markets Services License (CMSL) from the Securities Commission of Malaysia (SCM), the financial market regulatory body in Malaysia. You can tell if a broker holds CMSL by identifying the register number from its Malaysia homepage and searching for the broker on the SCM website (sc.com.my) to validate the broker's status.

 

Choosing a Forex Broker for Malaysian Traders

Brokers today are freely and legally offering their services for Malaysian traders. Unfortunately, fraud brokers are still in existence running their schemes. Thus, before opening an account, you may need to make sure that the broker is regulated by Bank Negara Malaysia. There are also other factors you should take into consideration such as trading platform & software, commission & spreads, account types, customer service, as well as other additional services.

trading platform

 

Trading Platform & Software

You should always check out the trading platform and software that a broker provides. Complex platforms might be suitable for seasoned traders, but simplicity is the key for the casuals and beginners in order to avoid technical mistakes. MetaTrader 4 is perhaps the most user-friendly platform equipped with a chart station and indicators. You can also make notes on charts, add or remove features, copy function, and backtest your strategy. There are many more platforms available, so make sure to check them out and pick the best one for your needs.

 

Commissions & Spreads

Forex brokers charge fees and take commissions in the form of spreads. This is their source of income. A spread is a difference between the bid and the ask price. For example, the difference in the EUR/USD pair is typically 1-3 pips. This means that you are charged 1-3 pips if you open a trade. In short, the best brokers are those who offer the lowest spreads.

commission trading

Spreads can be fixed and variable. Fixed spreads remain the same all the time, around 1-5 pips for major currency pairs and 6-20 pips for currency crosses (currencies that don't have US Dollar in the pair). Variable spreads are lower than fixed spreads, around 0.2-2 pips for major currency pairs, and 2-10 pips for currency crosses.

Spreads tend to increase in volatile markets, especially when important news hits the markets. The increase for major pairs spread can be 10 or 20 times, while for currency crosses 100 times. Fortunately, this increase is usually short-lived, lasting only a minute or less. After this short period, the spreads usually go back to normal.

See also: Forex Brokers with the Lowest Spread on Major Pairs

 

Account Types

Opening a demo account is a step that every beginner needs to take. But if you feel it's time for the real deal, there are various types of real accounts that you can choose based on your financial condition and/or trading style.

  • Micro

If you have less than $1,000 to invest, this is the best for you. Trading with a micro account generally starts from $100 with most brokers.

  • Mini

If you have more than $1,000 and are ready to trade mini lots, you may open this account. A mini lot size is $10,000, which means the risk is ten times higher than in the micro account.

  • Standard

A standard account is for those who are able to invest more than $10,000. The standard lot size is $100,000, which naturally means the risk is ten times higher than in the mini account.

  • Islamic

Being a Muslim country, opening an Islamic account might sit well with you. This account will not charge you for swap rates, and in turn, you will not make interest on overnight positions.

 

Customer Service

Make sure to test the customer service before opening a real account. Good brokers are committed to serving their clients with reliable live support 24 hours a day, 5 days a week (at minimum). Whether the brokers are international or domestic, they should take care of your requests in your native language. Problem-solving has to be quick and precise. Their failure to provide feedback within 72 hours is a red flag for you to jump ship.

customer service

 

Additional Services

Good brokers will also go the extra mile for your convenience by providing additional valuable services. Look up if the brokers provide educational and trading guides like daily market analysis from experts, daily market reviews, a news feed, as well as an education center that provides articles, videos, or webinars for forex learning. These extra services show that the brokers give the best support to your benefit.

 

Below are some examples of top forex brokers for Malaysian traders:

Saxo Bank

Rating


Spread
Fixed
Regulation
ASIC, 109605610
Min Deposit
$10000
Established
1992


Interest rate on funds

Payment

Credit/debit cards
Wire transfer

Saxobank was founded in 1992 in Denmark, which began as a brokerage business. At present, they have penetrated the online banking and forex trading business internationally. The company is known as one of the best in the industry.

Their innovative platforms have been used by Microsoft's global institutions, Barclays Stockbrokers Ltd, and TD Waterhouse. The platforms include SaxoTraderGO, an award-winning trading platforms and is offered as Saxobank's flagship. Two other platforms are SaxoTraderPRO and SaxoInvestors. Each platform has advantages and functions.

SaxoTraderPRO is suitable for use by advanced traders and institutional clients, which trade faster via quick-close all features and view exchange order books and execution reports in real-time. On the other hand, Saxo TraderGO is a platform for retail traders. This type of platform offers easy portfolio management from a single account. For example, traders can get live and historic reports of net holdings.

As for Saxo Investors which is a user-friendly case-product platform tailored to retail investors, there are several advantages including browsing curated themes and pre-made screenings. Also, clients can choose between diversified investment portfolios. It is a responsive platform accessible from any device.

The Saxobank website accommodates the needs of international clients, with dozens of languages available on the Saxobank website. Besides English, there are also Japanese, Mandarin, French, Italian, Indonesian, and many more.

When clients choose Saxo, clients are choosing to trade with a fully regulated industry leader, who adheres to strict regulatory requirements in 15 financial centers around the world, including the UK, Singapore, Hong Kong, and Denmark.

Another advantage is traders have so many choices of instruments that can be traded on Saxo, covering 40,000 instruments across 184 forex pairs, 9,000 CFDs, 19,000 shares, 200 Stock options, 2,500 ETFs, Futures, Gold, Silver, and many more.

Since the company also serves as a bank, the speed of execution at Saxo can be guaranteed. However, some traders may feel that Saxobank is not suitable for individual trading, as the minimum capital is too large and the spreads and commissions are considered burdensome for so many clients. The spread which is charged by Saxobank for each pair is quite large, so it is not suitable for scalpers. Meanwhile, the commission that must be paid by traders to this broker starts from USD1.

Furthermore, Saxobank often stops trading for a few seconds before the release of important news and only activates it again after the news is released. This makes news traders do not have the best opportunity to act on Saxobank.

Actually, The deposit value can be adjusted according to the level of account chosen by the clients. There are three levels in Saxo Accounts, including Classic (minimum funding is 500 Pounds), Platinum (minimum funding is 50,000 Pounds), and VIP (minimum funding is 1,000,000 Pounds). Clients can use leverage 1:200 and a minimum lot of 0.05.

Traders are spoiled with various kinds of facilities provided by Saxobank . Each aaccount level has its own facilities offering that can be adjusted to the needs of traders. The higher the level, the more complete the facilities provided.

For example, traders who have VIP accounts will get personal relationship managers, and direct access to trading experts 24 hours. These facilities are not found when traders choose Classic and Platinum accounts.

For Corporate Clients, Saxobank provides 40,000 instruments, with 1: 1 support from expert account managers and the security that comes from their 25+ year experience.

If clients meet professional criteria, they can join Professional Accounts at Saxobank . The criteria in question include having a financial portfolio that exceeds around 500,000 Euros, having placed at least 20 relevant trades in significant sizes over the last four quarters, and having worked in the financial sector for at least one year.

Moreover, Saxobank provides more than 100 institutional specialists operating from offices in key financial centers, including Denmark, London, Singapore, Shanghai, Hong Kong, Switzerland, and Dubai. The client can choose the location closest to their area. With this kind of support, Saxobank is optimistic for delivering the right solution for the business of clients.

From the explanation above, it can be concluded that Saxo is more suitable for deep-pocket forex traders who are interested in forex trading as an investment portfolio. The broker's business focus is also more towards institutional clients rather than retail clients.

Saxo Bank, founded in 1992, is one of the most experienced forex brokers out there. Saxo Bank receives six regulatory licenses from top tier jurisdictions. This forex broker is not publicly traded but operates banks in its business. The minimum initial deposit might be deemed too steep for some. Nonetheless, the overall trading experience offered by this broker is top-notch.

Advantage(s):

  • Best experience for VIP clients.
  • 40,000+ tradable financial instruments.
  • SaxoTraderGo platform.
  • Excellent customer service.

Disadvantage(s):

  • Very high minimum initial deposit.

 

Swissquote

Rating


Spread
Fixed
Regulation
DFSA (Dubai), 4
Min Deposit
$1000
Established
1996


Free education

Trading by telephone

Payment

Credit/debit cards
Wire transfer

As a leading Swiss banking group, Swissquote is considered one of the most well-known online financial and trading services providers. The company is listed on the SIX Swiss Exchange since May 2000, but their story originated back in the 1990s, where Marc Bürki and Paolo Buzzi set up a business in financial software.

Swissquote's main vision is to enable private investors to access real-time prices free of charge. They follow a mission of "democratizing banking" by upholding the values of transparency, integrity, and unbiased information for the benefit of clients, in turn allowing them to make independent decisions.

Today, Swissquote is a global financial services provider with official branches in several major areas in the world like the European area, Middle Eastern, and Asian financial centers. From 2017 to 2018, it claims as the first online bank to offer crypto trading and participation in Initial Coin Offering (ICO).

Trading in SwissQuote guarantees a regulated environment, as the broker is licensed in some of the most well-known jurisdictions in the financial industry, including the Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA) from the UK.

The broker also has local regulations for other branches in other jurisdictions such as the Malta Financial Services Authority (MFSA), the Dubai Financial Services Authority (DFSA), and the Securities & Futures Commission (SFC) from Hong Kong to enable non-EU traders to register under its account with regulated services.

SwissQuote is notable for its wide variety of trading instruments, such as 8,500+ stocks and more than 800 ETFs. Forex pairs, cryptocurrencies, government bonds, and a range of commodity CFDs are also provided to clients.

The company presents a special deposit protection scheme that amounts to CHF100,000 in the event of bankruptcy proceedings. Traders from other countries are offered many choices of base currencies like EUR, USD, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, and CZK.

Opening an account in SwissQuote for forex trading is available in 3 different choices:

Standard

  • Spreads: from 1.7 pips
  • Commission: none
  • Minimum deposit: $1,000
  • Minimum trade: 0.01 lot
  • Leverage: 1:100

 

Premium

  • Spreads: from 1.4 pips
  • Commission: none
  • Minimum deposit: $10,000
  • Minimum trade: 0.1 lot
  • Leverage: 1:100

 

Prime

  • Spreads: from 1.1 pips
  • Commission: none
  • Minimum deposit: $50,000
  • Minimum trade: 1 lot
  • Leverage: 1:100

Dubbed as the most popular account, Swissquote put Premium account as the recommended choice for forex traders, as it balances a competitive spread and affordable minimum deposit according to their standard.

For the trading platform, traders can choose between MetaTrader or Sawissquote's proprietary product called Advanced Trader. To provide traders with the best experience in trading, the company also puts complementary analytical tools such as Autochartist and Trading Central signals.

For MetaTrader fans with a desire to trade in an advanced trading environment, Swissquote offers the MetaTrader Master Edition.

As the company is more suitable to experienced traders with a medium deposit capability, they do not have a complete educational package to offer to new traders. However, they arrange free webinars for everyone who would like to continually upgrade their trading knowledge. This program is managed by professional figures in the financial industry and is available in 4 languages: English, German, French, and Arabic.

All in all, Swissquote is an ideal broker for traders with enough experience to trade with more than $1,000 as their starting deposit. Its long-standing history and qualified background as a member of a Swiss banking group provide high credibility and a guaranteed trading environment that not many can offer.

However, it is also important to note that Swissquote does not offer various deposit and withdrawal methods, as they mainly focus on bank transfer and credit card payments that they revolutionized in 2018 by launching a multi-currency credit card.

Swissquote, founded in 1996, is publicly traded (SIX: SQN) and has two entities: the UK and Swiss. Operating two banks, Swissquote is frequently ranked the best for banking services by several financial media. It is also a safe broker for trading with four regulatory licenses from tier-1 jurisdictions. The pricing of this broker, however, is quite high. In the Swiss entity, spreads start from 1.7 pips on EUR/USD. Whereas in the UK entity, spreads can start from 0.6 pips.

Advantage(s):

  • Best banking services.
  • Excellent research features.

Disadvantage(s):

  • High spreads for the standard account.

 

IG

Rating


Website
www.ig.com
Spread
Variable
Regulation
CFTC/NFA, 0509630
Min Deposit
$1
Established
1974


Free education

US traders are welcome

Payment

Credit/debit cards
Wire transfer

IG Markets is an online trading provider with decades of experience in the financial market. Founded in 1974, the world-leading company has gathered more than 178,000 clients worldwide with over 16,000 markets reached as of 2019. IG Markets is authorized and regulated by the Australian Securities and Investment Commission (ASIC). It is also important to note that being established in 1974 makes IG Markets one of the forefront online CFD brokers. Their service has expanded to 15 countries across five continents.

Aside from famous for its reliable experience, IG Markets is also known for its truly broad range of trading instruments. In fact, the broker has long been regarded as one of the most accomplished companies in offering the most trading assets to clients. The wide choice of instruments includes forex pairs, 26 indices, over 12,000 shares, hard and soft commodities, cryptocurrencies, as well as other markets such as bonds, rates, and options.

Forex trading in IG Markets is provided in two ways: CFD and DMA (Direct). Here are the conditions for each type of trading:

Forex CFD

  • Minimum spread: 0.6 pips
  • Commission: None
  • Platforms: Web, mobile apps, MT4, ProRealTime, L2 Dealer, terminals and APIs
  • Trading size: Contracts
  • Demo account: Yes

Forex DMA

  • Minimum spread: No details
  • Commission: from $10 per $1 million traded
  • Platforms: Web, mobiles apps, L2 Dealer, terminals, and APIs
  • Trading size: Lots
  • Demo account: No

Both ways of trading are available for all clients. However, DMA does not enable trading in MetaTrader 4. Clients are also not allowed to trade in a demo account for virtual trading. It is essentially a type of trading reserved for experienced traders with high necessity for the best pricing in the market, as DMA offers market depth from a range of exchanges (including full market depth from the LSE).

Trading platforms in IG Markets are accessible via web, mobile app, and desktop. They are offered with 2 main varieties: Core Platforms and Specialist Platforms. The core platform is meant for all types of trading with the add-ons of DMA, ProRealTime access, and Forex Direct. Meanwhile, Specialist Platforms consist of L2 Dealer, ProRealTime, and MetaTrader 4.

The first two platforms charge fees that include minimum $2000 balance and monthly fees for shares data and level 2 prices (for L2 Dealer), as well as platform fees amounting to $40 per month and monthly fee for shares data (for ProRealTime).

IG Markets does not require a minimum balance to open an account . It also provides a swap-free account that frees clients for any interest, rollover, or swap charges on overnight positions. Yet, All costs and charges are built into the spread. This account suits well with long-term traders who need to keep their positions open for days or even weeks.

For beginners, IG Markets builds an IG Academy that gives interactive education and online trading courses. This way, clients can get a grip on the financial markets with the essentials of trading provided in infographics, video explainers, and end-of-course quizzes. Even better, the IG Academy is already integrated into its mobile app so clients can always learn about financial markets in much more efficient ways.

In conclusion, IG Markets is a client-friendly broker with more than 40 years of experience to back up its credibility. Their efforts and commitments to provide the best varieties of trading platforms are proven in the unique Core and Specialist Platforms.

Traders with little experience can apply to Forex CFD account in either Core Platforms or MetaTrader 4, while professionals can achieve the best experience in the financial market with IG Market's DMA trading and L2 Dealer or ProRealTime platforms.

IG, founded in 1974, is publicly traded (LON: IGG) and secures six regulatory licenses from tier-1 jurisdictions. The company provides additional services such as trading platforms, tools, market research, as well as low commissions and education category. It should be noted that while its flagship platform offers 19,000 tradable instruments, the MT4 platform offers as few as 76 tradable instruments.

Advantage(s):

  • 19,000+ tradable financial instruments.
  • Vast selection of educational contents and market analysis.
  • Low average spread.
  • IG web platform.

Disadvantage(s):

  • Only 76 tradable financial instruments for the standard platform.

 

Interactive Brokers

Rating


Spread
Fixed
Regulation
ASIC, 453554
Min Deposit
$10000
Established
1977


Free education

Segregated accounts

Managed accounts

Payment

BPAY
Check
Wire transfer

Interactive Brokers is a direct market access broker that provides execution, clearance, settlement, and prime brokerage for customers. Since it was found 41 years ago by Thomas Peterffy, the company has grown internally to become one of the premier securities firms with over $7 billion in equity capital.

First acknowledged as a popular broker for advanced traders, Interactive Brokers launched a second tier of service called IBKR Lite for more casual investors in 2019.

The IBKR Lite provides services on over 125 market destinations worldwide and gives direct access (online) trade execution and clearing services, both to institutional and professional traders for a wide variety of traded products including stocks, options, futures, forex, fixed income, and funds worldwide. Interactive Brokers Group and its affiliates execute over 859,000 trades per day.

Headquartered in Greenwich, Connecticut, Interactive Brokers has over 1,400 employees in the USA, Switzerland, Canada, Hong Kong, UK, Australia, Hungary, Russia, Japan, India, China, and Estonia companies. IBKR is regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Financial Conduct Authority (FCA), and is registered in the New York Stoch Exchange (NYSE).

Interactive Brokers offers a wide range of product-centered tools like the OptionTrader and Probability Lab for simplified single and complex multi-leg option trading; FXTrader for forex trading, Mutual Fund/ETF Replicator for helping traders find a lower cost on ETF alternatives, also fixed-income screeners for corporate and agency bonds. Overall, trading with Interactive Brokers would be provided with the most useful and updated tools to maximize trading and investing goals.

As a popular and regulated broker in the US, Interactive Brokers has won some awards. Recently, they were awarded by the Barrons as the 2019 Best Online Broker, which is categorized as the best broker for mobile, international, and frequent traders. Besides, they also won an award as Top Performing Broker by the Preqin Service Providers, and Best Overall Broker by Investopedia (Best for Low Costs, Best for International Trading, Best for Options Trading, Best for Day Trading, and Best for Penny Stocks). The awards are not only achieved during 2019. Since 2005, Interactive Brokers has won lots of awards regarding its best services for clients.

To optimize clients' trading speed and efficiency, Interactive Brokers provides some powerful suites of trading platforms. Below is the list:

  • Client Portal
    A one-stop destination to check quotes and place trades, see account balances, Profit and Loss, as well as key performance metrics, funding, and reporting.
  • Desktop TWS
    A flagship platform designed for active traders and investors who trade multiple products and require power and flexibility. Opening an account in Interactive Brokers and using this platform allows traders to utilize the most advanced algorithms and trading tools, as well as a library of tools and asset-based trading layouts for optimum customization.
  • IBKR TWS for Mobile
    The IBKR TWS for Mobile is made for traders who want to easily trade and monitor their IBKR account on-the-go from either iOS or Android device (tablet or smartphone).
  • IBoT
    IBoT is a robot for finding information and placing orders using clients' own words. IBot is available on TWS for Desktop, IBKR Mobile, and Client Portal.
  • IBKR WebTrader
    IBKR WebTrader is made for traders and investors who prefer a simplified interface.
  • IBKR APIs or IBKR Pro
    This trading platform is provided especially for traders and investors who want to write their trading software or automated trading programs; third-party software users.

Overall, Interactive Brokers has always been a great choice for those who want to find out a credible and regulated broker for trading. Offering lots of trading platforms, Interactive Brokers has committed to provide their best services for both novices and professionals, since it is suited to every clients' needs.

Interactive Brokers, founded in 1977, is publicly traded (NASDAQ: IBKR) and overall a reliable firm for trading with 6 regulatory licenses from tier-1 jurisdictions. While it requires no minimum initial deposit, its Trade Workstation (TWS) platform is not so friendly for beginners due to the overcomplicated tools that come with it. For professionals, though, this platform is much more appreciated.

Advantage(s):

Disadvantage(s):

  • Complex platform for beginners.

 

City Index

Rating


Spread
Variable
Regulation
ASIC, ACN 141 774 727, AFSL 345646
Min Deposit
$250
Established
2001


Bonus offers

Free education

Trading by telephone

Managed accounts

Payment

Credit/debit cards
Wire transfer

City Index, founded, is publicly traded under StoneX Group (NASDAQ: SNEX) and part of GAIN Capital. City Index is a trusted broker with licenses from 4 tier-1 regulatory bodies. It provides educational content specially made for beginners, ranging from articles to videos. Its Advance Trader Pro (ST Pro) platform is designed for professionals, while the WebTrader works well enough for the casuals. However, their MetaTrader (MT4) platform is best avoided due to its limitation in market choice.

Advantage(s):

Disadvantage(s):

  • Limited markets for the MT4 platform.

 

FOREX.com

Rating


Website
forex.com
Spread
Variable
Regulation
CFTC/NFA, 0339826
Min Deposit
$250
Established
1999


Free education

US traders are welcome

Payment

Credit/debit cards
SOFORT
Wire transfer

FOREX, also known as FOREX.com, is one of the global market leaders in the financial industry. Established in 2001, FOREX is a part of Gain Capital Holdings specifically meant for FX & CFD trading on powerful trading platforms and the popular MetaTrader 4.

Similar to its parent company, FOREX has been licensed by various financial watchdogs, including the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) from the US, the Financial Conduct Authority (FCA) from the UK, the Investment Industry Regulatory Organisation from Canada, as well as the Financial Services Agency from Japan.

For traders in South East Asia and the Middle East area, FOREX has been operating under the regulation of the Cayman Islands Monetary Authority.

Quality execution on every trade, transparency, and competitive pricing are some of the most optimized services in FOREX.com. As per Q3 2019, the broker's total assets reached $1.288 billion and the total customer equity amounted up to $849.8 million.

FOREX presents its clients with the best freedom to trade in 300+ global markets including 80+ FX pairs, 220+ shares, indices, commodities, and cryptocurrencies. Spreads on each asset are displayed live on FOREX.com's official website, with EUR/USD having a spread as low as 0.8 pips.

For the trading platform, FOREX provides two major options: its in-house platform and MetaTrader 4. Both types are available on various devices and can be accessed as a web-based platform and mobile app. Furthermore, FOREX's proprietary platform is furnished with advanced charting tools like 70+ technical indicators, a host of time intervals, multiple chart types, 50+ drawing tools, and customization features.

Trading in FOREX.com is provided with various trading conditions that accommodate the needs of multiple types of traders. Apart from the services, FOREX also provides guidance and supports in the forms of real-time trade signals and analysis tools from Autochartist and Recognia. There are also trained market strategists to work with on developing a trading plan, as well as market analysis to keep clients Stay informed with real-time market insights and actionable trade ideas from FOREX's research team.

Account funding and withdrawal are enabled via bank transfer. However, there are no further details on the minimum amount of each process. FOREX also does not seem to present other options for payment methods like credit cards or even e-payment.

Generally, FOREX is a reliable FX and CFD broker based on its regulations and long-standing history since 2001. Clients can trade in either FOREX's platform or MetaTrader 4 with competitive spread and pricing. Still, FOREX is one of the top-tiers in the brokerage industry that adheres to strict regulations of prestigious financial regulators.

Some of its trading conditions may not suitable for retail traders with barely enough experience or small capitals. Despite it all, FOREX.com hosts one of the most accomplished material packages when it comes to financial trading.

FOREX.com, founded in 1999, is publicly traded (NASDAQ: SNEX) and part of GAIN Capital. FOREX.com has 4 regulatory licenses from tier-1 jurisdictions. The minimum initial deposit is relatively low to encourage beginners. This broker offers in-house flagship Advanced Trading platform as well as a MetaTrader platform with higher average spreads.

Advantage(s):

  • Hundreds of organized educational contents.
  • Affordable minimum initial deposit.
  • 4,500 tradable CFD instruments.
  • Great platforms and pricing.

Disadvantage(s):

  • High average spreads for the standard account.

 

XTB

Rating


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.

Founded in 2002, XTB is publicly traded (WSE: XTB.PL) and authorized by a tier-1 regulatory body. XTB has two platforms: xStation with innovative tools and features, and the MT4 that supports automated trading. It has no minimum initial deposit and offers more than 9,600 tradable CFD instruments.

Advantage(s):

  • Best customer service.
  • Great platform support.
  • No minimum initial deposit.
  • 9,600+ tradable CFD instruments.

Disadvantage(s):

  • Lack of daily market update content in English.

 

Pepperstone

Rating


Spread
Variable
Regulation
ASIC, 414530
Min Deposit
$200
Established
2010


Free education

Trading by telephone

PAMM accounts

MAM accounts

Segregated accounts

Affiliate program

Islamic accounts available

Payment

BPAY
Credit/debit cards
Neteller
PayPal
Skrill
UnionPay
Wire transfer

Pepperstone was founded in 2010 by a team of experienced traders with a shared commitment to improve the world of online trading. Based in Melbourne, Australia, they grew to become one of the largest forex brokers in the world. If traders want to find a broker that provides low spreads, fast execution, and award-winning support, then the answer is Pepperstone.

Pepperstone has a strong legality guarantee because it has been licensed by the Australian regulator ASIC and FCA. Traders' funds can be deposited in segregated accounts at top Australian banks, one of which is the National Australia Bank (NAB). Therefore, the safety of funds is not a concern if a trader chooses to open an account in Pepperstone .

They succeeded in collaborating with 23 top banks to bring Bid to investors instantly via optical fiber. This allows all orders to be executed 100 percent automatically with low latency up to 0.05 milliseconds, without dealing desk intervention and requotes, as well as with super low trading costs.

Trusted by over 73,000 traders around the world, Pepperstone processes an average of USD12.55 billion of trading volumes every day. Because of that, they have many awards such as:

  • The Best Global Forex ECN Broker 2019 and Best Forex Trading Support-Europe
  • Best Australian Broker and Best Trading Platform 2018 by Compareforexbrokers.com
  • Best Forex ECN Broker, Best Forex Trading Support, and Best Forex Trading Conditions by UK Forex Awards 2018

With the many rewards gained, Pepperstone hopes to attract more and more traders from all over the world. The rising performance of Pepperstone is not only due to the super-tight spreads and fast execution that it provides, but also because many traders are interested in trading with deposits in currencies other than US Dollars.

For this reason, Pepperstone is one of the most market-responsive brokers because it is willing to accept deposits in 10 currencies, which include AUD, USD, EUR, CAD, GBP, CHF, JPY, NZD, SGD, and HKD.

Trading in Pepperstone would allow traders to choose between 11 trading platforms: MT4 for desktop, MT4 Mac, MT4 iPhone, MT4 Android, MT4 iPad/Tablet, MT5, WebTrader, cTrader WebTrader, cTrader cAlgo, and cTrader Mobile. The choice of trading platforms may seem confusing to novice traders, but actually, it is very useful because it has fast execution.

When trading forex, traders can enjoy raw spreads from 0.0 pips on Razor accounts, over 61 currency pairs, and commission-free account funding on a wide range of deposit options. In addition to currency pairs, Pepperstone provides many types of trading instruments, including CFDs for indices and shares, commodities, and cryptocurrencies.

Instruments in commodity trading are pretty much diversified. Not only metal, gold, and silver, but traders can also trade with soft commodities such as cotton, sugar, coffee, cocoa, and orange juice. Pepperstone also provides trading on energy (oil and gas).

There are two types of accounts provided by Pepperstone, namely Razor accounts, and Standard accounts. If you area beginner, it is recommended to choose a Standard account with an average EUR/USD spread of 1.0-1.3 pips and free commission.

Those with particular trading styles such as scalpers and algorithmic traders may enjoy the lower cost setup traditionally seen in a Razor account, with a commission from AUD7 round turn of 100k traded. The initial deposit starts at USD200 with a minimum lot of 0.01 (micro) and 1:500 leverage.

As a Pepperstone client, a trader can fund and withdraw with alternative methods including Visa, Mastercard, POLi internet banking, bank transfer, BPay, PayPal, Neteller, Skrill, and Union Pay.

If you are new to trading or looking to practice your trading strategies in a risk-free environment, you can create Demo Account in Pepperstone. But if you are an experienced trader or prefer to learn by doing, Pepperstone provides a Live Account that allows you to trade with live executions and pricing.

Traders can also follow and copy strategies from popular traders using third-party services while learning how to improve their trading abilities. Pepperstone has partnered with a range of social trading platforms that traders can choose from, such as Myfxbook, ZuluTrade, Mirror Trader, MetaTrader signals, and Duplitrade.

Pepperstone, founded in 2010, holds two licenses from tier-1 regulatory bodies. It is a broker that caters to copy traders, offering a big selection of platforms for social-copy trading which include MirrorTrader, RoboX, Myfxbook, cTrader, and DupliTrade. The average spreads for the Razor account is very competitive, but the tradable instruments are very limited.

Advantage(s):

  • Numerous copy trading platforms.
  • Excellent customer service.
  • Low spread in the Razor account.

Disadvantage(s):

  • Limited tradable financial instruments.

 

eToro

Rating


Spread
Fixed
Regulation
ASIC, 491139
Min Deposit
$200
Established
2007


Trading contests

Free education

Personal manager

Segregated accounts

Affiliate program

Islamic accounts available

US traders are welcome

Payment

Credit/debit cards
Neteller
PayPal
Skrill
UnionPay
WebMoney
Wire transfer
Yandex.Money

eToro established in early 2007, with a mission to make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions. The company has head offices in the United Kingdom, Cyprus, USA, and Australia.

eToro (Europe) Ltd operates as a Financial Services Company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under license no. #109/10. Meanwhile, eToro (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.

As for eToro AUS Capital Pty Ltd, the legal standing is acknowledged by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License 491139.

A broker that belongs to the 4-digit type, eToro offers both short-term options for day traders and long-term options for investors, such as their innovative CopyPortfoliosTM, a fully managed thematic portfolio.

Since 2007, eToro has been at the forefront of the Fintech revolution. The most recent was launched in 2017, which is CopyPortfolios powered by Machine learning Al. Beyond developing CopyPortfolios, the company integrated Microsoft's machine learning technology into Momentum DD.

The new CopyPortfolio investment strategy uses artificial intelligence to find the steadiest traders who are most likely to generate a double-digit return and bundle traders into one fully-managed portfolio. eToro has hundreds of financial assets for trading across several categories including stocks, commodities, crypto assets, currencies, indices, and ETFs. Each asset class has characteristics and can be traded using a variety of investment strategies.

Some positions on eToro involve ownership of underlying assets, such as non-leveraged positions on stocks and cryptos. Employing CFDs will enable a variety of options, such as leveraged trades, short (sell) positions, fractional ownership, and more. For example, traders can invest as little as USD100 in gold, even if a single unit of gold cost USD1,000. Some of eToro's most popular CFD commodities include gold, oil, natural gas, silver, and platinum.

Currencies are traded on eToro only as CFDs. Also, CFDs enable Sell (short) positions and leveraged trade, even for assets that don't offer the option in traditional trading. Some of the popular currencies include EUR/USD, GBP/USD, AUD/USD, USD/JPY, and USD/CAD.

Furthermore, An Exchange-Traded Fund (ETF) is a financial instrument comprising several assets grouped to serve as one tradable fund. After opening an account in eToro, traders can invest as little as USD250 in an ETF that costs USD500. Some of the popular ETFs on eToro include SPY, VXXB, TLT, and HMMJ.

However, eToro also offers additional functions using CFD trading. All leveraged ETF positions in the UK are under FCA regulations. Meanwhile, all CFD positions executed by eToro Australia are under ASIC regulations.

The company has other advantages. In all financial assets that can be traded, eToro does not charge any deposit or trading frees other than spreads.

eToro charges a USD25 fee for withdrawals and the minimum withdrawal amount is USD50. Long (Buy), non-leveraged crypto, stock, and ETF positions are not executed as CFDs and do not incur any fees. eToro does charge overnight or weekend fees for CFDs positions, such as leveraged positions and short (sell) orders.

Fee updates always apply to open positions. Fees are subject to change at any given time and could change daily, without prior notice, depending on market conditions.

As a beginner, trader can use CopyTrading eToro. Different from the features of other brokers, traders can copy the strategies of professional traders without fee or profit-sharing. Therefore, 100% profit is fully owned by traders. For example, while trader A who is copied by trader B, produces a profit of 10% this month, then trader B also gets a profit of 10%.

The company is the world's leading social trading network. Since eToro operates in complete transparency, each trader has valuable information on their eToro profiles, so other traders that are interested to copy their trades can have assistance in creating their best portfolios.

Another feature that is unique to eToro is the personalized, social News Feed. Just like on any social media, traders can post their updates on feed, comment on other's posts, and gradually create a feed that is tailor-fitted to trader's trading and investing interests. On eToro social trading platform, traders will also get notifications when a trader writes a new post and many other important updates.

eToro, founded, in 2007, is not publicly traded and does not operate banks. It is a broker with licenses from two tier-1 regulatory bodies. Still, eToro has been widely known for its highest standing on social trading and cryptocurrency trading. The platform for such purposes is one of the best in the market. However, the spreads are relatively higher compared to its competitors.

Advantage(s):

  • Best copy trading platform.
  • 2,300+ tradable financial instruments.
  • Weekly educational webinars.
  • Well-designed mobile app.

Disadvantage(s):

  • High spread.

 

Vantage FX

Rating


Spread
Fixed and Variable
Regulation
ASIC, #ACN 140 903 886
Min Deposit
$200
Established
2006


Interest rate on funds

Bonus offers

Trading contests

Free education

Personal manager

Trading by telephone

PAMM accounts

MAM accounts

Segregated accounts

Managed accounts

Affiliate program

Islamic accounts available

Payment

AstroPay
Credit/debit cards
FasaPay
Neteller
Skrill
UnionPay
Wire transfer

Vantage FX was founded in 2009 in Australia. It is the brand name of the Vantage International Group which is regulated by the Cayman Islands Monetary Authority (CIMA). Before it is known as Vantage FX as today, they used to be MXT Global in 2009 and Vantage FX Pty LTD in 2015. The Vantage Group also operates other companies such as Vantage Global Prime, which is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA).

According to the broker’s website, Vantage FX adds further protection to clients by segregating client funds and holding their funds with Australia’s National Australia Bank (NAB). NAB is one of the 4 largest financial institutions in Australia as well as the Top 20 safest banks in the world. Thus, clients don't need to worry about saving their funds at Vantage FX.

With Vantage FX, traders will experience super-fast trade execution, as well as interbank grade and RAW ECN spreads. When combined, these elements offer clients a true institutional trading experience, across a wide range of trading instruments. They also offer services designed for both beginners and professionals with access to Forex ECN trading, as well as CFD trading on Indices, Commodities, and U.S & Hong Kong Shares. Those instruments are available to trade on MetaTrader 4 and MetaTrader 5, either for Mac, PC, iOS, or Android. There are also social trading platforms such as MyFXbook and Zulutrade.

By registering in Vantage FX, traders will have access to an impressive range of educational materials and research tools including MT4 SmartTrader Tools, a wide variety of promotional trading offers and rebate programs, as well as access to accounts with up to 500:1 leverage. Vantage FX provides research in the form of technical and fundamental analysis on its blog from in-house staff as well as guest writers. There is also an economic calendar powered by MQL5 from MetaQuotes. For clients who deposit at least $1,000, Vantage FX offers a suite of plugins for MT4 branded as MT4 SmartTrader Tools, developed by FX Blue LLP.

As an authorized representative of Vantage Global Prime, the broker caters to retail traders under the Vantage FX brand and offers access to the following instruments:

  • 40 currency pairs, which are the most liquid global forex market currencies.
  • 50 highly liquid US Share CFDs in some of America’s largest companies such as Apple, Google, Coca-Cola, and more.
  • 50 biggest companies listed on the Hong Kong Stock Exchange to trade on.
  • 15 most liquid Indices from across the globe, including the S&P 500, DAX, FTSE, DJ30, and more.
  • 17 commodities, either soft commodities or precious metals.

Clients can open accounts in VantageFX and deposit funds in 8 base currencies: AUD, USD, EUR, GBP, NZD, SGD, JPY, and CAD. They also provide clients with convenient deposit and withdrawal methods through local and international bank transfers, credit/debit cards, and e-payment.

Overall, Vantage FX is valued to be proper for retail traders with small deposits who like the max leverage thresholds. In terms of pricing, the broker's commission-based Raw ECN account is the clear choice for cost-sensitive traders as it features a lower all-in cost compared to its Standard account offering.

Vantage FX is a part of Vantage International Group Limited. It holds licenses from ASIC, FCA, and CIMA as well as offers segregation of client funds held in the National Australia Bank. This broker also provides access to forex ECN trading and the U.S. and Hong Kong shares. Users can trade on MT4 and MT5 platforms or social trading platforms such as MyFXbook and Zulutrade.

Advantage(s):

  • Forex ECN trading.
  • The US and Hong Kong share CFDs.
  • Segregated client funds held with NAB.
  • Bonus and promotional offers.

Disadvantage(s):

  • High spreads.
  • Limited tradable CFD instruments.

 

Moneta Markets

Moneta Markets, founded in 2020, is a part of Vantage International Group Limited. It holds licenses from ASIC, FCA, and CIMA. It offers segregation of client funds held with the National Australia Bank. There are 300+ financial CFD instruments to trade including Forex, Commodities, Indices, etc. Users trade on the Moneta Markets WebTrader which serves all functions.

Advantage(s):

  • 300+ tradable CFD instruments.
  • Segregated client funds held in NAB.
  • Moneta Markets WebTrader platform.
  • Wide variety of educational contents.

Disadvantage(s):

  • No online details on commission.
  • Lack of quality market analysis.

 

FP Markets

Rating


Spread
Variable
Regulation
ASIC, 286354
Min Deposit
$100
Established
2005


Bonus offers

Free education

Personal manager

Trading by telephone

PAMM accounts

MAM accounts

Segregated accounts

Affiliate program

Islamic accounts available

Payment

Bitcoin
Credit/debit cards
Dragonpay
Ethereum
FasaPay
Local bank transfer
Neteller
Ripple
Skrill
Tether (USDT)
Wire transfer

FP Markets, founded, in 2005, holds licenses from ASIC and CySEC. It offers a wide selection of educational content and research tools to help its clients in trading. In addition, live support is active 24 hours per day, 5 days a week. There are more than 10,000 tradable instruments that can potentially be overwhelming for beginners.

Advantage(s):

  • ECN pricing and DMA trading.
  • Wide variety of platforms and features.
  • 10,000+ tradable financial instruments.
  • Excellent customer service.

Disadvantage(s):

  • Overwhelming markets and accounts choice for beginners.

 

BDSwiss

Rating


Spread
Variable and Fixed
Regulation
BaFin, HRB 160749B
Min Deposit
$100
Established
2012


Bonus offers

Trading contests

Free education

Personal manager

PAMM accounts

LAMM accounts

MAM accounts

Segregated accounts

Managed accounts

Affiliate program

Islamic accounts available

US traders are welcome

Payment

giropay
iDEAL
paysafecard
Skrill
SOFORT
Wire transfer

BDSwiss, founded, in 2012, is authorized by CySEC and FSC Mauritius. There are more than 250 financial instruments to trade including Forex, Commodities, Cryptocurrencies, Indices, and Equities. Multiple accounts are available to suit each customer's needs. It offers various educational content as well as trading courses for beginners and professionals.

Advantage(s):

  • MetaTrader 4 and MetaTrader 5 platform.
  • Commission-free trading.
  • Access to raw spreads.
  • Wide selection of educational contents.

Disadvantage(s):

  • No licenses from tier-1 regulatory bodies.

 

OctaFX

Rating


Spread
Variable
Regulation
CySEC, 372/18
Min Deposit
$100
Established
2011


Interest rate on funds

Bonus offers

Trading contests

Trading by telephone

Segregated accounts

Affiliate program

Islamic accounts available

Payment

Bitcoin
Credit/debit cards
Neteller
Skrill

OctaFX is one of the most famous brokers in the world and has won many awards for its very comfortable trading atmosphere and proximity with customers. OctaFX was founded in 2011 with headquarters in Strovolou 47, Kyros Tower, Nicosia.

Prestigious awards that have been received by OctaFX include the Best ECN/STP 2019 and the 2019 Best Broker in Asia given by FX Daily Info. The Global Banking and Finance Review magazine also gave the Best Broker award in Asia in 2018 to this broker. More than that, there were also awards from European CEO Magazine (Best FX Broker 2018 and Best Trading Conditions).

For traders in most countries, OctaFX is under the authority of Octa Markets Incorporated and is registered in Saint Vincent and the Grenadines. This broker also provides various facilities, such as providing support services by live chat and WhatsApp in Indonesian. Not only that, deposits and withdrawals of funds can be done through various local banks. OctaFX does not charge commissions for every deposit and withdrawal of funds made by traders.

OctaFX offers different types of accounts that are carried out with market execution (STP/ ECN) and floating spreads from 0.2 pips. A variety of forex strategies, ranging from Scalping, Hedging, and the use of Expert Advisors are permitted in all accounts at OctaFX brokers.

There is also a fixed exchange rate offer when opening a Micro MT4 account. All deposits made in IDR will be calculated at the rate of USD1 = Rp10,000 and will be entered into the trader's account balance. Also, Swap-free accounts are available for Muslim traders who want to avoid overnight interest.

Trading in OctaFX is also suitable for novice traders. Because OctaFX offers low spreads, which are floating starting from 0.0 pips. The required initial deposit is also low, only USD50. The currencies used on the account are US Dollars and Euros.

OctaFX gives a bonus of 50% each time a trader makes a deposit. That way, the capital gained by the trader becomes bigger. Opportunities to open positions increased and deposit bonuses can be withdrawn on the terms and conditions.

If traders are still confused about calculating profits, the OctaFX platform provides a trading calculator for each account type. Traders only need to enter the currency pair being traded, the amount of leverage, the number of lots, and the type of currency used in the account.

Opportunities to get profits are also getting bigger with the Autochartist feature. Traders will get notifications quickly when there is a profit signal in trading. The accuracy of the trend prediction reaches 83%.

Traders do not need to worry about the safety of funds at this broker. OctaFX uses segregated accounts and protects personal data and online financial transactions with SSL technology. This is adjusted to the international accounting standards and regulations.

Another advantage offered by OctaFX is the Trade & Win program. Opening an account in OctaFX would open the opportunity to collect trading lots, which can be accumulated into a variety of attractive prizes. Traders only need to open a real account on MetaTrader4 or MetaTrader5 through OctaFX and simply exchange the prize lot in this promotion. Prizes that can be obtained by traders include T-shirts, Android Smartwatches, smartphones, and laptops.

Traders need not worry about missing out on promotions. Because OctaFX often bonuses and other promotions. This broker holds a trading contest every week on a demo account with real prize funds that can be used for trading.

One example of a prize contest is OctaFX Champion - MT4 Demo Contest. With a total prize of USD 1,000, there are places for 4 winners in each contest period. OctaFX broker also provides contests on the cTrader platform, titled cTrader Weekly Demo Contest. As the name implies, this trading contest is held on a demo account for 1 week and uses cTrader as the platform.

OctaFX, founded, in 2011, is authorized by CySEC. It offers MetaTrader and cTrader platforms which are popular among beginners for their ease of use. The tradable instruments, however, are limited to less than 100.

Advantage(s):

  • Multiple account types.
  • Forex ECN trading with 1:500 leverage.
  • MT4, MT5, and cTrader platforms.
  • Copy-trading availability.

Disadvantage(s):

  • Limited tradable financial instruments.
  • No licenses from reputable regulatory bodies.
  • Limited deposit and withdrawal options.

 

Conclusion

Notwithstanding regulation, forex trading is still a risky business. There are things that are simply not under your control, but you can reduce the risk by choosing a reliable broker. We certainly hope our recommendation can kick-start your journey in forex trading. As additional information, here is a side by side comparison between three of the top forex brokers above:

Feature Forex.com Pepperstone BDSwiss

Rating

General Rating 3.97/5
4.43/5
3.67/5
Trustpilot 1.8/5

rated by 38 users
4.6/5

rated by 1 users
3.3/5

rated by 138 users

General Information

Office(s) Australia, United Kingdom and United States Australia, China, Kenya, Ukraine and United States Cyprus, Germany, Philippines and Seychelles
Regulation CFTC/NFA, 0339826
FCA (UK) 190864
FSA (Japan), 1539
IIROC, May 10, 2012
ASIC 414530
BaFin, 151148
Capital Markets Authority of Kenya, 128
CySEC, 388/20
DFSA (Dubai), F004356
BaFin HRB 160749B
CFTC/NFA, 0486419
CySEC, 199/13
FSA (Seychelles), SD047
FSC (Mauritius), C116016172
Established 1999 2010 2012
Minimum Deposit $250 $200 $100
Maximum Leverage 1:200 1:500 1:400
Spread Variable Variable Fixed
Commissions $7
Minimum Position 0.1 lot 0.01 lot 0.01 lot
Payment Credit/debit cards, SOFORT and Wire transfer BPAY, Credit/debit cards, Neteller, PayPal, Skrill, UnionPay and Wire transfer giropay, iDEAL, paysafecard, Skrill, SOFORT and Wire transfer
Official Website Visit Forex.com Visit Pepperstone Visit BDSwiss

Account Variations

Segregated Account
Islamic Account
PAMM Account
Managed Account
LAMM Account
MAM Account
Forex Demo Account

Trading Requirements

Hedging
US traders are welcome
Requires sending documents via postal mail
Overnight interest rates (swaps)
Trading by telephone

Trading Features

Trading contests
Automated trading
Interest rate on funds
Bonus offers
Free education
Personal manager
Affiliate program

Trading Platforms and Complements

Mobile trading
Browser-based platform
Trading via API
One-click trading
Trailing stop
Pending orders
One-Cancels-Other (OCO) orders

Instruments Traded

Forex
CFD
Indexes
Spread betting
Gold & silver
Cryptocurrencies
Stocks
Binary options
Oil
Metals
Energies
Futures
ETF
Soft commodities
Options
Agriculture
Bonds

Customer Support

Website Languages Chinese, English Chinese, English, Russian Arabic, Czech, Danish, English, German, Hindi, Italian, Korean, Norwegian, Polish, Romanian, Russian, Spanish, Thai, Vietnamese
Email Support
Call Support
Chat Support

Reviews

General Review Read Forex.com Review Read Pepperstone Review Read BDSwiss Review
User Reviews

Brian Kernel

Jul 22 2020

Forex.com takes a long time to withdraw (it can take more than 1 week). Somehow, Forex.com is a well-known and clearly registered broker. The important thing of this broker is their pair has a suffix (EURUSD to EURUSDPRO). For EA users, this suffix is quite annoying. It must be modified related to EA code as well.

Devina

Jul 22 2020

Forex.com is a good broker. I have tried the demo and planned to move to a real account sooner. My first deposit is going to be USD5,000.00. I wish it goes well xoxo

More User Review

Drew Fabrizio

Aug 20 2020

I started with Pepperstone a couple of weeks ago. For the first time, everything seems fine, but it's just that their MT4 platform is really lagging during events. Also, their commissions are relatively expensive. It's not that they're not good, but their calculation with commissions and swaps really not my type.

Harley Cadwell

Aug 20 2020

I place my withdrawal on Saturday, then on Monday, I got the money. It's a relatively fast process. Looking forward to another withdrawal this week. Not much but glad I got the profit.

More User Review

Barry Jones

Sep 1 2020

BDSwiss is highly recommended broker because their fast withdrawal request. Based on my own experience!

James Curtis

Sep 1 2020

good strong broker with many years experience far spreads, and good commissions, over all well trusted and doing well would recommend

More User Review

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