Best forex trading brokers in 2024

Dive into our top list of regulated and trusted best forex trading brokers that we have compiled for you.

best forex trading brokers
$30 FREE Welcome Bonus
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Best trading conditions
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Best TradingView Broker
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50% Deposit Bonus
best forex trading brokers
Best for Beginners

Find below the strengths of the best forex trading brokers for 2024:

  1. RoboForex is the best forex broker overall – Wide range of trading assets. Low trading fees. Welcome Bonus.
  2. Exness – Multi-asset Forex Broker.
  3. IC Markets – Low commission and tight spreads. Available in TradingView.
  4. XM Broker – 50% Deposit bonus up to $500 + 20% Deposit bonus up to $5,000.
  5. FBS Broker – Best Forex Broker for Beginners.
  6. HF Markets – Regulated Forex Broker for beginners.
  7. Pepperstone – Low FX fees. Tight spreads. Low withdrawal fees (includes PayPal). TradingView integration.
  8. FXPro – Unbeatable Trading Conditions! ZERO Spread on the most popular instruments.
  9. EasyMarkets – Tight Fixed Spreads. Seamless Intergration with TradingView.
  10. Amarkets – Professional trading conditions.

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Table of Contents

    Overview of the Best Forex Trading Brokers

    This table shows a list of the best forex trading brokers together with their key features:

    Broker
    Features
    Open Account
    roboforex-broker-review
    • Trading platforms – MT4, MT5, RTrader
    • Min deposit – $10
    • Leverage – From 1:1 to 1:2000
    • Spread – From 0 points
    exness-broker-review
    • Trading platforms – MT4, MT5, Exness App
    • Min deposit – $10
    • Leverage – From 1:1 to 1:2000
    • Spread – From 1 points
    ic-markets-forex
    • Trading platforms – MT4, MT5, cTrader, TradingView
    • Min deposit – $10
    • Leverage – From 1:1 to 1:500
    • Spread – From 0 points
    XM-broker-review
    • Trading platforms – MT4, MT5, Web
    • Min deposit – $10
    • Leverage – From 1:1 to 1:1000
    • Spread – From 1 points

    Key criteria determining a broker’s trustworthiness are: regulation, availability of investor protection, as well as a long and spotless track record.

    Best Forex Trading Brokers Ranking for 2024

    We’ve conducted thorough testing of the best trading platforms offered by dozens of the best forex trading brokers in the industry. Of the 60+ brokers that we’ve evaluated, we’ve selected our top picks for brokers that provide the best trading platform experience and listed them below:

    1. RoboForex – best forex broker overall.
    2. Exness – Multi-asset Forex Broker.
    3. IC Markets – Low commission and tight spreads.
    4. XM Broker – 50% Deposit bonus up to $500.
    5. FBS Broker – Best Forex Broker for Beginners.
    6. HF Markets – Regulated Forex Broker for beginners.
    7. Pepperstone – Low withdrawal fees (includes PayPal). TradingView integration.
    8. FXPro – ZERO Spread on the most popular instruments.
    9. EasyMarkets – Seamless Intergration with TradingView.
    10. Amarkets – Professional trading conditions.
    ImageProductFeaturesPrice
    1
    roboforex-broker-review
    9.9
    RoboForex
    • Minimum Deposit – $10
    • FSC
    • Platforms: MT4, MT5, RTrader, Mobile
    • Leverage: 1:2000 for FX
    • Instruments: 104 currency pairs, 100+ CFDs
    2
    exness-broker-review
    9.9
    Exness
    • Minimum Deposit – $10
    • Regulations: FCA, CySEC, FSA (Seychelles), FSCA, BVI FSC, FSC (Mauritius), CBCS, and CMA
    • Platforms: MT4, MT5, WebTrader, Mobile
    • Leverage: 1:2000 for FX
    • Instruments: 104 currency pairs, 100+ CFDs
    3
    ic-markets-forex
    9.8
    IC Markets
    • Minimum Deposit – $10
    • Regulations: FCA, CySEC, FSA (Seychelles), FSCA, BVI FSC, FSC (Mauritius), CBCS, and CMA
    • Platforms: MT4, MT5, cTrader, TradingView
    • Leverage: From 1:1 to 1:500
    • Instruments: 104 currency pairs, 100+ CFDs
    4
    XM-broker-review
    9.8
    XM Broker
    • Minimum Deposit – $5
    • Regulations: ASIC, FSC, CySEC, DFSA
    • Platforms: MT4, MT5, WebTrader, Mobile
    • Leverage: From 1:1 to 1:1000
    • Instruments: 104 currency pairs, 100+ CFDs
    5
    fbs-broker
    9.7
    FBS Broker
    • Minimum Deposit – $10
    • Regulations: CCySEC, FSC
    • Platforms: MT4, MT5, Mobile
    • Leverage: 1:3000
    • Instruments: Cryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals
    6
    hfm-forex-broker
    9.6
    HF Markets
    • Minimum Deposit – $1
    • Regulations: FCA, DFSA, FSCA, FSA, CMA
    • Platforms: MT4, MT5, Mobile
    • Leverage: 1:400
    • Instruments: 50+ Bonds, Commodities, Cryptocurrencies, Energies, Stock CFDs, ETFs, Forex, Indices, Metals
    7
    pepperstone-forex-broker
    9.6
    Pepperstone
    • Minimum Deposit – $1
    • Regulations: ASIC, FCA, DFSA, BaFin, CMA, SCB, CySec
    • Platforms: MT4, MT5, Ctrader, TradingView, Mobile
    • Leverage: 1:400
    • Instruments: Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices, Metals
    8
    FxPro-Logo
    9.5
    FXPro
    • Minimum Deposit – $100
    • Regulations: FCA, CYSEC, FSCA, SCB
    • Platforms: MT4, MobileTrading, MT5, cTrader, FxPro Edge
    • Leverage: From 1:1
      to 1:500
    • Instruments: 104 currency pairs, 100+ CFDs
    9
    easy-markets-review
    9.4
    EasyMarkets
    • Minimum Deposit – $25
    • Regulations: CySEC, ASIC, FSC BVI, FSA (Seychelles)
    • Platforms: MT4, WebTrader, Mobile
    • Leverage: Up to 1:500
    • Instruments: currencies, metals, indices, crypto, stocks, and commodities
    10
    Online-broker-AMarkets-black
    9.4
    Amarkets
    • Minimum Deposit – $100
    • Regulations: FinaCom, MISA, FSC, FSA
    • Platforms: MT4, MT5, AMarkets App
    • Leverage: Up to 1:3000
    • Instruments: Currencies, stock and commodity markets, cryptocurrencies

    Risk Disclaimer

    There is a high level of risk involved when trading leveraged products such as Forex/CFDs. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    What does a forex broker do?

    A forex broker acts as an intermediary between traders and the global forex market, facilitating the buying and selling of currencies.

    They provide trading platforms that allow individuals and institutions to access currency pairs and execute trades.

    Forex brokers offer leverage, enabling traders to control larger positions with a smaller amount of capital, and they often provide tools such as charts, news feeds, and technical analysis to aid in trading decisions.

    Additionally, brokers ensure that trades are executed efficiently and offer various account types to cater to different trading needs. They earn revenue through spreads, commissions, or a combination of both, and they play a critical role in maintaining liquidity and efficiency in the forex market.

    Learn more about forex trading

    Learn more about forex trading by checking out FREE Forex Trading Course covering how to start forex correctly. I will show you exactly what to do to start forex trading the right way. WITHOUT blowing your trading accounts.

    Do I need a broker for forex?

    Deciding whether you need a broker for forex trading depends on various factors related to access, resources, and expertise.

    • Access to Markets: Forex brokers provide essential access to the global forex market, which individual traders might find challenging to obtain otherwise. Brokers offer platforms for trading currency pairs and facilitate transactions efficiently.
    • Resources and Tools: Brokers supply traders with valuable resources such as real-time data, analytical tools, and educational materials, helping them make informed decisions. These tools can be crucial for both novice and experienced traders to navigate the volatile forex market.
    • Leverage and Support: Using a broker allows traders to utilize leverage, meaning they can control larger positions with smaller capital. Brokers also offer customer support and professional advice, which can be indispensable for managing risks and maximizing potential profits.

    Ultimately, it’s NOT possible to trade forex without a broker, leveraging their services can significantly enhance your trading experience and outcomes.

    Find a trustworthy broker:

    We have covered a lot of broker reviews over the years. You can check out the broker reviews page here for more information.

    How to choose the best forex trading broker?

    Choosing the best forex broker involves considering several critical factors to ensure they meet your trading needs and offer a secure, reliable trading environment. Here are some key points to consider:

    Regulation and Trustworthiness

    • Regulatory Status: Ensure the broker is regulated by reputable financial authorities such as the Financial Conduct Authority (FCA) in the UK, the U.S. Commodity Futures Trading Commission (CFTC), or the Australian Securities and Investments Commission (ASIC).
    • Reputation: Research the broker’s history, read reviews, and check for any past regulatory issues or scandals.

    Trading Platform and Tools

    • Platform Quality: Evaluate the trading platforms offered, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), or proprietary platforms. Look for user-friendly interfaces, reliability, and advanced features.
    • Analytical Tools: Ensure the broker provides robust charting tools, real-time data, technical indicators, and other resources that support informed trading decisions.

    Costs and Fees

    • Spreads and Commissions: Compare the spreads (the difference between the bid and ask prices) and any commission fees. Lower costs can significantly impact profitability.
    • Additional Fees: Check for hidden fees such as withdrawal charges, inactivity fees, or costs for using certain payment methods.

    Account Types and Leverage

    • Account Options: Look for brokers offering various account types to suit different trading styles and levels of experience, from beginner to advanced.
    • Leverage Options: Consider the leverage offered and ensure it aligns with your risk tolerance. Higher leverage can amplify both gains and losses.

    Customer Service and Support

    • Support Availability: Choose a broker with reliable customer service available 24/7 via multiple channels, including phone, email, and live chat.
    • Educational Resources: A broker that provides educational materials, webinars, and tutorials can be particularly beneficial for beginners.

    Security and Ease of Transactions

    • Fund Security: Ensure the broker uses segregated accounts to protect client funds and has measures in place to prevent fraud.
    • Transaction Ease: Evaluate the ease of depositing and withdrawing funds, and check the range of supported payment methods.

    By carefully evaluating these factors, you can choose a forex broker that best aligns with your trading goals and provides a secure, efficient trading environment.

    Best forex broker overall. Recommended for forex traders looking for low fees and a chance to use the MetaTrader 4 platform

    roboforex-broker-review-best-forex-trading-brokers
    RoboForex Features
    Trading platform:MT4, MT5, RTrader, Web
    Minimum deposit:$10
    Leverage:1:2000
    Spread:Floating from 0 pips
    Instruments:Forex (currency pairs), ETFs, index CFDs, oil CFDs, CFD on European and U.S. stocks, real securities
    Contests and bonuses:Welcome Bonus Available
    Read Review:For a detailed analysis of RoboForex services, check out our review for RoboForex.

    Best trading conditions. Recommended for forex and CFD traders who are familiar with the MetaTrader trading platforms

    roboforex-broker-review-best-forex-trading-brokers
    Exness Features
    Trading platform:MT4, MT5, Exness Trade App (mobile)
    Minimum deposit:$10
    Leverage:1:unlimited for retail clients
    Spread:Standard: from 0.3-0.8 pips subject to the account type;
    Professional: from 0-0.1 pips subject to the account type
    Instruments:Forex CFDs on: cryptos, commodities, indices, and stocks
    Contests and bonuses:Occasionally
    Read Review:For a detailed analysis of Exness services, check out our review for Exness.

    Recommended for forex and CFD traders who value easy account opening and free deposit/withdrawal options

    roboforex-broker-review-best-forex-trading-brokers
    IC Markets Features
    Trading platform:MetaTrader 4, MetaTrader 5, TradingView and cTrader
    Minimum deposit:$10
    Leverage:1:500 (FSA);
    1:30 (ASIC and CySEC)
    Spread:Standard: 0.8 pips;
    Raw Spread: 0 pips;
    Instruments:Cryptos and Forex CFDs on indices, commodities, stocks, bonds, and futures
    Contests and bonuses:Rebates for the Global division;
    Free VPS.
    Read Review:For a detailed analysis of IC Markets services, check out our review for IC Markets.

    Recommended for forex traders looking for great account opening and customer service

    roboforex-broker-review-best-forex-trading-brokers
    XM Broker Features
    Trading platform:MT4, MT5, Web, XM App
    Minimum deposit:$5
    Leverage:1:30 (only for EU regulated Entity and AU). For all the other countries – 1:1000.
    Spread:From 0.6 pips
    Instruments:Currencies, stocks, commodities, stock indices, precious metals, and energies
    Contests and bonuses:50% Deposit Bonus
    Read Review:For a detailed analysis of XM Broker services, check out our review for XM Broker.

    Best forex broker overall. Recommended for forex traders looking for low fees and a chance to use the MetaTrader 4 platform

    roboforex-broker-review-best-forex-trading-brokers
    FBS Broker Features
    Trading platform:MetaTrader 4, MetaTrader 5
    Minimum deposit:$10
    Leverage:1:3000
    Spread:From 1 pip
    Instruments:Forex, indices, metals, futures contracts
    Contests and bonuses:No
    Read Review:For a detailed analysis of FBS Broker services, check out our review for FBS Broker.

    How Does The Price Trader select forex brokers?

    • Checking whether the broker is regulated by a trusted regulator,
    • Compared fees (including spreads, withdrawal fee, commission),
    • Compared the number of currency pairs,
    • Tested the platform (charting, features, usability, customer service).

    Save hours of research!

    The Price Trader evaluates the key criteria determining a broker’s trustworthiness which include: fees, safety, ease of account opening, education, and trading platforms. regulation, availability of investor protection, as well as a long and spotless track record.

    FAQ

    What are the top 10 forex brokers?

    RoboForex is the best forex broker overall – Wide range of trading assets. Low trading fees. Welcome Bonus.
    Exness – Multi-asset Forex Broker.
    IC Markets – Low commission and tight spreads. Available in TradingView.
    XM Broker – 50% Deposit bonus up to $500 + 20% Deposit bonus up to $5,000.
    FBS Broker – Best Forex Broker for Beginners.
    HF Markets – Regulated Forex Broker for beginners.
    Pepperstone – Low FX fees. Tight spreads. Low withdrawal fees (includes PayPal). TradingView integration.
    FXPro – Unbeatable Trading Conditions! ZERO Spread on the most popular instruments.
    EasyMarkets – Tight Fixed Spreads. Seamless Intergration with TradingView.
    Amarkets – Professional trading conditions.

    How much money do you need to start trading forex?

    Starting to trade forex can require different amounts of capital depending on various factors such as your trading style, the broker you choose, and your financial goals. Here’s a detailed breakdown to help you understand the capital requirements for trading forex:

    1. Broker Requirements

    Minimum Deposit: Many forex brokers require a minimum deposit to open a trading account. This can range from as low as $10 to $500 or more, depending on the broker.
    Account Types: Brokers often offer different account types with varying minimum deposits, such as micro, mini, and standard accounts.

    2. Leverage and Margin

    Leverage: Forex trading typically involves using leverage, which allows you to control a larger position with a smaller amount of money. Common leverage ratios offered by brokers range from 50:1 to 500:1.
    Margin Requirement: Leverage reduces the amount of capital needed to trade, but it also increases risk. For example, with 100:1 leverage, you can control $10,000 in currency with a $100 deposit. However, you still need to maintain a margin to keep your positions open.

    3. Trading Style

    Scalping: Requires quick, small trades, often needing lower capital but higher leverage.
    Day Trading: Typically requires more capital to withstand daily market fluctuations.
    Swing Trading: May need more capital due to holding positions for several days or weeks, which requires more margin to cover potential drawdowns.

    What are the best Forex trading platforms?

    The MT4 and MT5 (MetaTrader) platforms are the best options for beginners due to their user-friendly interfaces, demo accounts, educational resources, and abundant technical indicators and tools.

    CTrader is widely considered a top choice for traders using automated trading strategies due to its C# programming support.

    TradingView is the best analysis tool with lots of data to work with.