Forex Broker Reviews

  1. What are the Best Forex Brokers?
  2. Best Forex Brokers
  3. How do Forex Brokers make money?
  4. What Brokers allow Forex Trading?
  5. Forex Brokers List

What are Forex Brokers?

Forex Broker is a broker that offers access to trade Forex Currency Pairs. Forex, FX or Currency Market is a global decentralized foreign exchange for currencies trading that determines the exchange rate and provides liquidity. Forex trading is electronical trading where transactions performed via networks connecting the participants and traders from around the world 24/5 across the financial sessions at every time zone. Read more about Forex via Wikipedia.

  • The Forex Trading is the largest and the most liquid instrument worldwide with average volume of around $2.4 trillion per day. That is done because the currencies need to be exchanged in order to enable conversion and assist in international businesses.
  • The currencies are always traded in pairs, thus there is no absolute but a relative value through the market price of the particular currency.
  • The main participants of Forex are international banks that work through financial institutions, the banks that are turned into the financial firms with involved large quantities of forex exchange known as dealers. All together it creates an interbank market that operates very large amounts daily.
  • Retail traders need a Forex Broker to access Forex trading – it is recommended to choose among Regulated Broker with top-tier license for money safety and safe access to trade markets
  • Typically exchanges are traded in an over the counter model where brokers negotiate one with another. Therefore, there are two types of FX Brokers the one operating as an agent by seeking the best price in the market for a retail order via STP Trading or the dealers that are principals in the transaction and quote the price to deal with.

🏦 SpreadDepending on currency pair, Average EUR USD - 1.1 pips
📈LeverageYes
📉PositionsSell and Buy
💰Contract sizeMicro Lot, Standard Lot (Depending on the broker)

Best Forex Brokers

Here we made a selection of Top Forex Brokers by category that are Regulated Forex Brokers with some of the best-offered trading condition and transparent conditions.

  • HYCM – Best Overall Forex Broker 2021
  • AvaTrade – Lowest Spread Forex Broker 2021
  • GO Markets – Best MT4 Forex Broker 2021
  • FXTM– Best Forex Broker for Beginners 2021
  • eToro – Best Forex Social Trading Broker 2021

IG EurUsd trade

How do Forex Brokers make money?

Forex Brokers building its trading fees into a spread or commission charge which trader pays for every open transaction or trade.

What Brokers allow Forex Trading?

Broker that has Currency pairs in its instrument range allow Forex Trading, while a number of currency pairs will depend on a particular offering.

Forex Brokers List

These are the regulated brokers that offer Forex trading and access to trade Currency Pairs:

Broker Detail
BDSwiss Review BDSwiss
Min. Deposit: 100 US$
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4, MT5, BDSwiss Webtrader and Mobile App
Regulation: CySEC, FSC, FSA
1
BDSwiss Review
BlackBull Markets logo BlackBull Markets
Min. Deposit: 200 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: FMA, FSA
2
BlackBull Markets Review
FP Markets
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: IRESS, MT4, MT5
Regulation: ASIC, CySEC
3
FP Markets Review
Pepperstone review Pepperstone
Min. Deposit: 200 US$
Max. Leverage: 1:30
Trading Platforms: MT4, MT5, cTrader
Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN
4
Pepperstone Review
HotForex Review HotForex
Min. Deposit: 5 US$
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5
Regulation: CySEC, FCA, DFSA, FSCA
5
HotForex Review
Axiory logo Axiory
Min. Deposit: 10 US$
Max. Leverage: 1:777
Trading Platforms: MT4, MT5, cTrader
Regulation: IFSC
Axiory Review
FBS
Min. Deposit: 1 USD
Max. Leverage: 1:30
Trading Platforms: MT4, MT5, FBS trader, CopyTrade
Regulation: CySEC, IFSC, FSCA, ASIC
FBS Review
Eightcap
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: MT4, MT5
Regulation: ASIC
Eightcap Review
Global GT
Min. Deposit: 5 US$
Max. Leverage: 1:1000
Trading Platforms: MT5, WebTrader
Regulation: FSCA, SFSA
Global GT Review
FXCC Review FXCC
Min. Deposit: No minimum deposit
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4
Regulation: CySEC, VFSC
FXCC Review