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. Which Forex Brokers are the best?
  6. Forex Brokers List

What are Forex Brokers?

Forex Broker offers access to trade Forex Market of Currency Pairs. Where Forex, FX or Currency Market is a global decentralized foreign exchange for currencies trading that determines the exchange rate and provides liquidity.

Forex trading performed as electronic trading where transactions done 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.

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

What is Forex Trading Platform?

There is no need to look for a separate platform to trade Forex if the Broker offers Forex instruments in its range, the trading platform is configured for Forex trading. See some of our important finds and notes to consider before signing for Forex Trading:

  • Forex Trading is the largest and the most liquid instrument worldwide with an 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 international businesses.
  • The currencies are always traded in pairs, thus there is no absolute but 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 financial firms with involved large quantities of forex exchange known as dealers. Altogether 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 Brokers with a 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.
Forex Trading AdvantagesForex Trading Disadvantages
Transparent conditionsCounterparty Risks
Low transaction costsComplex Price Determination Process
Leveraged TradingHigh Volatility
Suitable for BeginnersSelf-Directed Learning
Suitable for various trading stylesLighter Regulatory Protection

Best Forex Brokers

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

  • HFM – Best Overall Forex Broker 2022
  • BlackBull Markets – Best Lowest Spread Forex Broker 2022
  • FP Markets – Best MT4 Forex Broker 2022
  • Pepperstone– Best for Beginners Forex Broker 2022
  • BDSwiss – Best EA Trading Forex Broker 2022

How do Forex Brokers make money?

Forex Brokers build their trading fees into a spread or commission charge which the trader pays for every open transaction or trade.

What Brokers allow Forex Trading?

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

Which Forex Brokers are the best?

There is no best Forex Broker, however, the best one is definitely a reliable firm with good regulation and reputation, fair trading conditions, and good customer service. Check IG Trading or Interactive Brokers.

How to trade Forex for Beginners?

Firstly you need to select brokers and sign up for good education and learn well all basics about Forex trading. Read more about Forex Trading Beginners. 

Forex Brokers List

These are the regulated brokers that offer Forex trading and access to trade Currency Pairs that we recommend and consider safe and low-risk trading:

Broker Detail
OANDA US
Min. Deposit: No minimum deposit
Max. Leverage: 1:50
Trading Platforms: MT4, fxTrade Mobile, TradingView
Regulation: NFA, CFTC
OANDA US Review
OctaFX
Min. Deposit: $25
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4, MT5
Regulation: CySEC
OctaFX Review
IC Markets
Min. Deposit: 200 US$
Max. Leverage: 1:30 | 1:500
Trading Platforms: cTrader, MT4, MT5
Regulation: ASIC, CySEC, FSA
IC Markets Review
cmc markets_logo CMC Markets
Min. Deposit: 0 GBP
Max. Leverage: 1:30
Trading Platforms: CMC Web, CMC Mobile, MT4
Regulation: FCA, ASIC, FMA, IIROC, MAS, BaFin
CMC Markets Review
MultiBank Exchange Group logo MultiBank Exchange Group
Min. Deposit: US$50
Max. Leverage: 1:30 | 1:500
Trading Platforms: Maximus Platform, ECN PRO Platfrom, MultiBank Pro Platfrom, MT4, MT5
Regulation: ASIC, BaFin, CIMA, SCA, etc.
MultiBank Exchange Group Review
RoboMarkets RoboMarkets
Min. Deposit: $100
Max. Leverage: 1:30
Trading Platforms: MT4, MT5, R Stocks Trader
Regulation: CySEC
RoboMarkets Review
RoboForex RoboForex
Min. Deposit: $10
Max. Leverage: Up to 1:2000
Trading Platforms: MT4, MT5, cTrader, R Stocks Trader
Regulation: FSC
RoboForex Review
Blueberry Markets logo Blueberry Markets
Min. Deposit: $100
Max. Leverage: 1:30
Trading Platforms: MT4, MT5
Regulation: ASIC, SCB
Blueberry Markets Review
Instaforex Review InstaForex
Min. Deposit: 0 $
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5, WebTrader, MobileTrader
Regulation: CySEC, FSC BVI, FSC
InstaForex Review
Exness Review Exness
Min. Deposit: 10 US$
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5
Regulation: SFSA, CBCS, FSC, FSCA
Exness Review