Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology. Here’s how we test.
Now let’s go through the selected brokers.
Established in 2006, FxPro is an award-winning broker sponsoring the McLaren F1 Team. Licensed by the UK FCA, CySEC, SCB, and FSC Mauritius, it offers over 2,100+ tradable instruments available from the MT4, MT5, cTrader, and FxPro proprietary platform. With excellent in-house market research and education, it’s a top broker to consider.
Regional Features:
I found that FxPro offers an excellent range of markets, covering forex, stocks, indices, commodities, and cryptocurrencies. Its no-dealing desk (NDD) model eliminates broker intervention on trades, providing trade execution in under 13 milliseconds.
FxPro’s range of platforms caters to different traders. Short-term traders will find the cTrader platform most valuable. Beginner traders may prefer FxPro’s proprietary platform, offering the most user-friendly interface and the easiest trading experience.
Both beginners and advanced traders can benefit from the FxPro team’s market research. Updated multiple times daily, it covers Market Overview, Crypto, and Technical Analysis, offering a balanced mix of fundamental and technical insights for trading.
Regarding fees, our examination revealed that the spread for EUR/USD averaged 1.2 pips, which is higher than the industry average of 1.0 pip for a commission-free trading account.
Founded in 2011 and based in Mauritius, FXTM is a global broker specializing in forex and CFD trading across commodities and indices. The broker offers an excellent range of over 1,200 products on MetaTrader 4 and MetaTrader 5 and a beginner-friendly FXTM App.
Regional Features:
FXTM has built an impressive trading app that feels like a worthy replacement for the MetaTrader mobile version. It comes with advanced charting powered by TradingView, biometric login for extra security, and seamless account management on the go. The app also integrates robust market research and actionable trading signals, making it a solid all-in-one tool for active traders.
I was equally impressed by the breadth of FXTM’s educational resources. On its website, you’ll find a wide mix of videos, articles, and eBooks covering both beginner-friendly and advanced topics. Highlights include guides on Elliott Wave Theory, Japanese Candlestick Strategies, and even 50 Successful Traders’ Habits.
FXTM also stands out with its research offering. The broker publishes frequent articles analyzing fundamentals for major forex pairs, indices, and leading US stocks. On top of that, traders get access to high-quality trading signals across multiple markets, powered by Acuity.
Founded in 2009, Vantage has four globally regulated entities. It offers an excellent suite of products for professional traders, including Raw ECN accounts with tight spreads and low commissions, along with multiple trading platforms, including MetaTrader 4, MetaTrader 5, ProTrader, and the Vantage App.
Regional Features:
Vantage’s Raw ECN trading account is a standout feature for professional traders. We found the spread on EUR/USD averaged 0.1 pips in the London session and 0.2 pips in the New York session. The commission is 3 USD per lot per side, better than the 3.50 USD industry average. This helps to execute trades at precise levels and keep trading costs low.
Vantage offers the full suite of MT4 and MT5 platforms that offer the largest number of features and tools, such as 1-click trading, multiple order types, and algorithmic trading capabilities. The MetaTrader accounts can also be synced to the Vantage copy trading app in which professionals can become a signal provider to earn extra income.
Established in 2005, FP Markets boasts a strong global presence with its headquarters in Australia and additional offices across the world. The broker is regulated by multiple high-tier authorities, including top-tier ASIC, CySEC, and the FSCA.
Traders have access to a diverse array of over 10,000 tradable instruments across forex, commodities, and equities. To facilitate this, FP Markets offers three world-class trading platforms each bringing its own unique features to cater to various trading styles.
Regional Features:
FP Markets offers the ability to trade on MT4, MT5, and cTrader. I enjoy the MT5 trading platform as it comes with more than 100 different drawing tools and technical analysis indicators, over 20 different viewable timeframes, and algorithmic trading capabilities. I also found you can access research tools from Trading Central and Autochartist which provides real-time trading ideas.
In our live testing, we discovered that FP Markets offers an expansive selection of over 72 forex pairs, encompassing major, minor, and exotic currencies. Significantly, the broker provides a robust range of trading options for the Turkish Lira, including popular pairs like EUR/TRY, GBP/TRY, and USD/TRY. In our live fee test, I found the spread for EUR/USD averaged 1.1 pips which is around the industry average of 1.0 pips for a commission-free trading account.
The forex and CFD analysts and editors at FXEmpire bring together seasoned trading professionals and experienced financial journalists. Many of our experts have been featured in leading publications such as Investopedia and Forbes, and all of them combine strong industry credentials with hands-on trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.