Best Forex Brokers 2019

Eric Rosenberg
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Foreign exchange is an exciting and fast-paced marketplace where fortunes are made and lost in the blink of an eye. If you want to get involved in foreign exchange trading or investing, also known as Forex, you’ll want to work with a top Forex broker.The best Forex brokers offer a combination of safe trading environment, competitive pricing, high-tech trading tools, and fast and reliable trade order execution. Sorting through the long list of Forex brokers and picking out the best is too much work for the average trader, so we took care of the hard part and whittled down to a list of the top Forex brokers for a variety of focuses and specialties.

 


The Best Forex Brokers 2019

Here’s a summary of the best brokers for forex trading.

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How to choose a Forex broker

Every trader has different priorities and strategies when it comes to Forex broker, but there are a few common features that every trader wants in a Forex brokerage:

  • Regulation and reliability – By dealing with a regulated broker, you can have the assurance that the broker has met the operating standards imposed by the regulatory body.
  • Low fees A low-fee brokerage helps you keep more of your profits for yourself. Different Forex companies charge you through commissions and/or spread markups.
  • Great platform and trading tools When you log in to your account, you should have everything you need to succeed at your fingertips. The best brokerage platforms include a desktop, mobile, and web-based option to manage your account, research and track positions, and enter trades.
  • Fast trade execution When you click the buy or sell button, a delay of a few seconds can cost you big. It’s important to work with a platform that offers real-time data and near-instant executions.

FX Empire has years of experiencing researching and reviewing brokerages and other financial companies around the world, and is a leader in reviews in the Forex and CFD (contract for difference) industries. The FX Empire team put together this list of the top brokerages in each of the categories below.

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.

Best FX Brokers for Forex Trading

Active traders in foreign exchange markets require a well-balanced brokerage that offers powerful tools and low costs and reliable trading environment. For those looking for an overall top brokerage for Forex trading, you’ll do well with any from the list below:

Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients. You can also visit our best US forex brokers

Plus500:

Regulated By:ASIC, CySEC, FCA, FSB, ISA, MAS

Foundation Year:2008

Headquarters:Building 25, MATAM, Haifa, Israel

Min Deposit:$100

Visit Broker

80.6% of retail CFD accounts lose money

80.6% of retail CFD accounts lose money

Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades, includes negative balance protection, and makes trading an educational and hopefully profitable venture.

You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 300:1. This broker is based in Israel and regulated by the Financial Conduct Authority (FCA) in the UK. Check out our full Plus500 review here.

Pros: Cons:
  • Support for 2000+ products to trade across global markets,including Forex, commodities, shares, indices
    and cryptocurrency CFDs
  • No commission and low spread costs
  • Advanced trades and fast execution
  • Licensed in several regulatory hubs, and publicly listed
  • Only CFDs, no direct Forex trades
  • High rates on margin/leverage accounts
  • Less research data than some competitors
  • No phone support offered

FXTM:

Regulated By:CySEC, FCA, IFSC

Foundation Year:2011

Headquarters:FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

Min Deposit:$10

Visit Broker

Your capital is at risk

Your capital is at risk

FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.

Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available. Read our detailed FXTM review here.

 Pros:  Cons:
  • Support for 250+ products to trade across global markets, including Forex, commodities, shares, indices and cryptocurrency CFDs
  • Competitive spreads
  • MetaTrader 4 and MetaTrader 5 platform support
  • Low maximum order size
  • No native Mac desktop app

XTB:

Regulated By:BaFin, CNMV in Spain, CySEC, FCA, IFSC

Foundation Year:2002

Headquarters:Level 34, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom

Min Deposit:$0

Visit Broker

Your capital is at risk

Your capital is at risk

XTB is an award-winning CFD platform that supports Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. For Forex, XTB supports 48 currency pairs with low-cost spreads. Customers of XTB can choose between trading on the xStation 5 or MT4 platforms. For leverage accounts, this brokerage offers leverage of up to 200:1.

XTB was founded in 2002 with a headquarters in Warsaw. It is regulated in markets across Europe by the IFSC, FCA, KNF, and CySec. XTB has a free demo account and a Trading Academy set of courses for beginner and intermediate traders. Check out our full XTB review here.

Pros: Cons:
  • Choose between two excellent trading platforms (xStation 5 or MT4 platforms)
  • A collection of 3000+ trading instruments across six asset classes
  • Low spreads
  • Fewer Forex pairs than some top competitors
  • No 24/7 support

EightCap:

Regulated By:ASIC

Foundation Year:2009

Headquarters:N/A

Min Deposit:$100

Visit Broker

Your Capital is at Risk

Your Capital is at Risk

EightCap is an Australia based foreign exchange and CFD broker. Supported assets include foreign exchange, cryptocurrencies, commodities, index CFDs, and share CFDs. EightCap supports 46 currency pairs. EightCap automatically offers 100:1 leverage. You can choose from 1:1 to 500:1. Fees and commissions vary by account type and are competitive.

EightCap supports the MetaTrader 4 and MetaTrader 5 platforms. This broker offers both demo and live accounts. The company was founded in 2009 and is licensed and regulated by the Australian Securities and Investments Commission (ASIC). Read our full EightCap review here.

Pros: Cons:
  • Support for two platforms including the modern MT5
  • Choose spread or commission charges
  • Adjustable leverage options from 1:1 to 500:1
  • Fewer currency pairs than some competitors
  • Demo limited to 30 days
  • Only customer service phone number is in Australia

FP Markets:

Regulated By:ASIC

Foundation Year:2005

Headquarters:N/A

Min Deposit:$100

Visit Broker

Your capital is at risk

Your capital is at risk

This brokerage offers a massive range of tradable assets through Forex, CFD, and share trading accounts. FP Markets supports the MT4, MT5, and IRESS platforms and offers leverage up to 500:1. You can trade 45 currency pairs with competitive spread or commission pricing.

FP Markets was founded in 2005 and is headquartered in Sydney, Australia. It is regulated by by the ASIC in Australia. Demo accounts are available. While it is suitable for beginners, education resources are limited. Check out our full FP Markets review here.

Pros: Cons:
  • 10,000+ tradable assets
  • Choose between 3 trading platforms
  • Competitive spread pricing on raw account
  • High spreads on the standard account
  • A range of possible additional fees
  • AU $200 minimum opening balance

Alpari:

Regulated By:FSC

Foundation Year:1998

Headquarters:N/A

Min Deposit:N/A

Visit Broker

Your capital is at risk

Your capital is at risk

Alpari is an industry veteran founded in 1998. It is headquartered in Port Louis, Mauritius and has an operations headquarters in London. The company offers services to international traders from 150+ countries, though the United States is a noteworthy gap – its membership to the US National Futures Association was revoked in 2015, forcing it out of the United States market.

This brokerage is originally from Russia. It is licensed in Belize as well as Saint Vincent and the Grenadines. It supports the MetaTrader 4 and MetaTrader 5 platforms. Forex traders can access 44 currency pairs and leverage is available up to 1,000:1. It is an exciting and innovative brokerage. Read our full Alpari review here.

Pros: Cons:
  • Innovative brokerage
  • 20+ years of history in business
  • Varying cost options to match your trading style

 

  • History of reguatory challenges
  • Past insolvency in the UK in 2015
  • Limited multilingual support

OctaFX:

Regulated By:CySEC

Foundation Year:2011

Headquarters:N/A

Min Deposit:$5

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Your capital is at risk

Your capital is at risk

OctaFX is a Forex and CFD trading platform with a focus on low, competitively priced spreads. It supports MT4, MT5, and cTrader trading platforms. cTrader offers the lowest costs, but does require a bit more experience. Novice traders are best starting off at OctaFX using MetaTrader 4, which supports micro accounts.

OctaFX supports 28 currency pairs, a smaller number than many competitors. You can get leverage up to 500:1 for currencies. Different leverage is available for metals, indices, and crypto trading. OctaFX was founded in 2011 and is based in and licensed in Saint Vincent and the Grenadines. Read our detailed review of OctaFX here.

Pros: Cons:
  • Low spread pricing
  • 3 different platforms and flexible pricing
  • Free Forex demo available
  • Just 28 currency pairs
  • Limited deposit options
  • Lost UK Financial Conduct Authority coverage in 2017

IG – US accounts available:

Regulated By:NFA

Foundation Year:1974

Headquarters:Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA, UK

Min Deposit:$250

Visit Broker

Your Capital is at Risk

Your Capital is at Risk

IG is a CFD and Forex brokerage located in Australia. It offers access to a wide range of markets in addition to Forex. Spreads are competitive, but not the cheapest in the marketplace. However, it does offer direct market access and trading on the MT4 platform.

IG was founded in 1974, making it one of the oldest Forex trading services available today. IG is a founding member of the CFD and FX Forum and works with Australia’s ASIC. Its transparency on pricing and regulations is refreshing in a sometimes cloudy industry. IG offers both an international platform and a US focused version regulated by the US Commodities Futures Trading Commission and is a member of the National Futures Association.

Pros: Cons:
  • Ultra-transparent pricing and regulations
  • Trusted brokerage with more than 40 years of experience
  • Demo available
  • Accepts US traders
  • Not the cheapest pricing around
  • Limited tradable assets
  • Limited education and research

TradeStation – US brokerage:

Regulated By:CFTC, FCA, NFA, SEC

Foundation Year:1982

Headquarters:8050 SW 10th Street, Plantation, 33324

Min Deposit:$500

Visit Broker

TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Group's affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Group's affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

TradeStation is a US-based brokerage. While you can’t trade foreign currencies directly on the US TradeStation platform, you can access the foreign exchange market through Forex futures. Futures trade at a competitive $1.50 per contract per side. Options cost $5 per trade plus 50 cents per contract.

TradeStation is based in Plantation, Florida and was founded in 1982. With more than three decades serving clients, it is a great platform for expert and seasoned traders. TradeStation supports over 50 currency pairs. Traders utilize TradeStation’s own proprietary trading platform. Read our full review of TradeStation here.

Pros: Cons:
  • 50+ currency pairs available
  • Simple, predictable pricing
  • Reputable broker founded in 1982
  • Forex traded through futures and options
  • Mixed customer service reviews
  • The trading platform is not ideal for new or beginner traders

Forex.com – US brokerage:

Regulated By:CFTC, NFA

Foundation Year:1999

Headquarters:N/A

Min Deposit:$50

Visit Broker

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

Forex.com is a leading US foreign exchange brokerage with a clear focus on Forex, as the name implies. It claims to be the largest Forex broker in the United States. This US broker is open 24 hours a day, 5 days a week. It supports an impressive 83 currency pairs with up to 50:1 leverage.

You can get started with a demo account. With a live account, fees are competitive and you can earn a rebate with high trading volumes. It supports the MT4 platform, common for international brokerages but less common in the US. As a US commodity brokerage, it is regulated by the CFTC and a member of the National Futures Association. It was founded in 1999 and located in Bedminster, New Jersey. Our full Forex.com review is here.

Pros: Cons:
  • Large number of supported currency pairs
  • Competitive pricing and volume rebates
  • 20 years in business
  • Does not yet support MetaTrader 5
  • Operates as a market maker
  • Limited tradable assets

Best Forex Brokers 2019 Comparison Table

Scroll for more details
BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
Plus500
Visit Broker>

80.6% of retail CFD accounts lose money

ASIC, CySEC, FCA, FSB, ISA, MAS

$100

1:30

Plus500

2008

No dealing desk

Visit Broker>

80.6% of retail CFD accounts lose money

FXTM
Visit Broker>

Your capital is at risk

CySEC, FCA, IFSC

$10

1:30

MT4

2011

ECN, STP

Visit Broker>

Your capital is at risk

XTB
Visit Broker>

Your capital is at risk

BaFin, CNMV in Spain, CySEC, FCA, IFSC

$0

1:200

MT4

2002

STP

Visit Broker>

Your capital is at risk

EightCap
Visit Broker>

Your Capital is at Risk

ASIC

$100

1:500

MT4, MT5

2009

No dealing desk, STP

Visit Broker>

Your Capital is at Risk

FP Markets
Visit Broker>

Your capital is at risk

ASIC

$100

1:500

MT5

2005

DMA, ECN

Visit Broker>

Your capital is at risk

Alpari
Visit Broker>

Your capital is at risk

FSC

$null

1:1000

MT4, MT5

1998

ECN, STP

Visit Broker>

Your capital is at risk

OctaFX
Visit Broker>

Your capital is at risk

CySEC

$5

1:500

cTrader, MT4, MT5

2011

ECN, STP

Visit Broker>

Your capital is at risk

TradeStation
Visit Broker>

TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Group's affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

CFTC, FCA, NFA, SEC

$500

1:4

Proprietary

1982

DMA

Visit Broker>

TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Group's affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

FOREX.com
Visit Broker>

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

CFTC, NFA

$50

1:50

N/A

1999

Market Maker

Visit Broker>

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk


Read More:


Best FX Brokers for Lowest trading costs and fees

The single most important goal when investing and trading is making money. To maximize your profits, you have to minimize your costs. These excellent brokerage firms offer some of the lowest trading costs around for foreign exchange.

CMC Markets:

Regulated By:FCA

Foundation Year:1989

Headquarters:133 Houndsditch, London EC3A 7BX

Min Deposit:$200

Visit Broker

Your capital is at risk

Your capital is at risk

CMC Markets is a top choice for low-cost forex trading. CMC offers forex pairs for spread betting and CFD trading. For the most popular currency pairs, typical spreads range from 0.7 to 1.1. You can trade 330+ instruments related to foreign exchange and currencies. You may also qualify for spread betting or CFD rebates, which can further lower costs. You can start with a free demo account.

Outside of forex, you can trade indices, cryptocurrencies, commodities, shares, and treasuries with a CMC markets account. It supports MetaTrader 4 as well as its own custom platform called Next Generation. CMC offers a wide array of useful education materials, which makes it a top choice for beginners. It was founded in 1989 and is based in London. This broker is regulated by the Financial Conduct Authority in the UK. Check out our detailed CMC Markets review.

 Pros:  Cons:
  • Spreads as low as 0.7
  • Rebate program can further offset trading costs
  • Risk management features to help you minimize losses and lock in profits
  • Some major currency spreads start at 1.1
  • CFD pricing not as competitive as forex spreads
  • Inactivity fee may apply on some account

City Index:

Regulated By:ASIC, FCA, FSA(JP), IIROC, MAS, NFA

Foundation Year:1983

Headquarters:Park House, 16 Finsbury Circus, London, EC2M 7EB, UK

Min Deposit:$0

Visit Broker

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

City Index by GAIN Capital offers forex as well as share, index, crypto, commodities, metals, bonds, interest rates, and options. For major forex pairs, minimum spreads range from 0.5 to 2.2 and the average spreads range from 0.73 to 2.6. Margins range from 3.33% to 5%. Spreads are much higher on some less popular trading pairs. Demo accounts are available.

If you want to trade forex in a wide portfolio, City Index supports a wider range of tradable assets than many competitors. It claims over 12,000 markets covered by its proprietary spread bet and CFD platform. Foreign Exchange works with MetaTrader 4. This broker was founded in 1983, is based in London, though its owner GAIN Capital is based in New Jersey, USA. It is regulated by the Financial Conduct Authority in the UK.

 Pros: Cons:
  •  Low spreads on popular currency pairs
  • Support for thousands of markets and assets
  • Support for beginner to professional level traders
  •   High CFD fees if you want to trade outside of forex
  • Inactivity applies after one year
  • Higher spreads on MT4 than the proprietary platform

Saxo Bank:

Regulated By:ASIC, DFSA, FCA, FSA, FSC

Foundation Year:1992

Headquarters:Philip Heymans Alle 15, 2900, Hellerup, Denmark

Min Deposit:$2000

Visit Broker

The value of your investments can go down as well as up. Losses can exceed deposits on margin products. Complex products, including CFDs and FX, come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. 74% of retail investor accounts lose money when trading CFDs with this provider.

The value of your investments can go down as well as up. Losses can exceed deposits on margin products. Complex products, including CFDs and FX, come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. 74% of retail investor accounts lose money when trading CFDs with this provider.

Saxo Bank is a forex platform with 182 spot pairs and 140 forward pairs available for trade (metals included). Forex spreads start at 0.1 pip. The broker charges competitive commission rates and offers volume discounts. Live spreads as of this writing range from 0.3 to 1.1 for the four most popular pairs. Net commissions range from USD $17 for 1,000 trades+ per month up to $50 for accounts with less than 25 monthly trades. Demo accounts are available.

Saxo Bank offers a wide range of tradeable assets as well as traditional equity and ETF portfolio accounts. It offers its own SaxoTraderGo and SaxoTraderPRO platforms. This brokerage was founded in 1992 and is based in Denmark. It is licensed and regulated in 15 jurisdictions including Denmark, the FCA in the UK, and other locations.

 Pros:  Cons:
  •  Very low spreads and competitive commissions
  • Licensed and regulated in over a dozen countries worldwide
  • Over two decades of experience
  • High minimum opening balance requirement
  • Some asset trading costs are not clearly explained
  • Slower account opening process than some competitors

IG – US accounts available:

Regulated By:NFA

Foundation Year:1974

Headquarters:Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA, UK

Min Deposit:$250

Visit Broker

Your Capital is at Risk

Your Capital is at Risk

IG is a forex brokerage with spreads starting at 0.6 pips. For the most popular currency pairs, minimum spreads range from 0.6 to 1.5 and the average spreads range from 0.75 to 1.7. An IG account gives you access to 80+ forex markets. Spread betting takes place on the MT4 platform. Demo accounts are available.

IG supports spread betting and CFDs for a wide range of markets. IG was founded in 1974 and is based in Australia. International accounts are regulated by the ASIC. US accounts are also available, with some differences. US accounts are regulated by the United States CFTC and NFA.

 Pros:  Cons:
  •  Low forex spreads on popular currency pairs
  • Transparent pricing and regulations
  • Demo accounts available
  • Higher prices on CFDs
  • Fewer tradable assets than many competitors
  • Limited education resources, best for experienced traders

Forex.com – United States broker:

Regulated By:CFTC, NFA

Foundation Year:1999

Headquarters:N/A

Min Deposit:$50

Visit Broker

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

If you live in the United States, Forex.com is a leader in low-cost foreign exchange trading. Spreads start at 1.2 pips for popular pairs. Spreads are lower on the Forex.com platform. MT4 is available as well, but you’ll pay higher spread rates there. Forex.com was founded in 1999 and is part of GAIN Capital, the same owner as City Index above. Demo accounts are available.

Forex.com is licensed in the United States and other major markets around the world including Canada, the United Kingdom, Australia, and others. That makes Forex.com one of the more trusted FX brokerage firms around.

 Pros:  Cons:
  •  Licensed in the US and many international markets
  • Competitive spreads on the most popular currency pairs
  • Free demo available
  • No support for MetaTrader 5
  • Market maker position adds conflict of interest
  • Low maximum account leverage

Best for Lowest trading costs and fees Comparison Table:

Scroll for more details
BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
CMC Markets
Visit Broker>

Your capital is at risk

FCA

$200

1:30

CMC Web Platform

1989

Dealing Desk, Market Maker

Visit Broker>

Your capital is at risk

City Index
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

ASIC, FCA, FSA(JP), IIROC, MAS, NFA

$0

1:30

MT4, Proprietary

1983

Dealing Desk, DMA, Market Maker

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

Saxo Bank
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The value of your investments can go down as well as up. Losses can exceed deposits on margin products. Complex products, including CFDs and FX, come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. 74% of retail investor accounts lose money when trading CFDs with this provider.

ASIC, DFSA, FCA, FSA, FSC

$2000

1:30

SaxoTrader, TradeMaker

1992

Dealing Desk, Market Maker, STP

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The value of your investments can go down as well as up. Losses can exceed deposits on margin products. Complex products, including CFDs and FX, come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. 74% of retail investor accounts lose money when trading CFDs with this provider.

IG (US)
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Your Capital is at Risk

NFA

$250

1:50

MT4, MT5

1974

Dealing Desk

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Your Capital is at Risk

FOREX.com
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

CFTC, NFA

$50

1:50

N/A

1999

Market Maker

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk

<>Best Forex Trading Mobile Apps

While the best platforms are ones you download to your computer, you don’t always have your PC or laptop handy to manage your account. Wherever you go, you can manage your account online using mobile apps from these online forex brokers.

Plus500:

Regulated By:ASIC, CySEC, FCA, FSB, ISA, MAS

Foundation Year:2008

Headquarters:Building 25, MATAM, Haifa, Israel

Min Deposit:$100

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80.6% of retail CFD accounts lose money

80.6% of retail CFD accounts lose money

Plus500 offers mobile apps for iPhone, iPad, Android, and Windows Phone. Once you download it and log in, you’ll be able to quickly buy and sell foreign currencies, as well as stocks and cryptocurrencies. The iOS version has a current 4.6 star average review. It earns a 4.2 average in the Google Play store.

Other features include real-time market notifications and access to a Plus500 demo account. You can give it a try risk-free using your smartphone anywhere you go. The buy and sell process is intuitive and easy to use. Learn more at our full Plus500 review.

 Pros:  Cons:
  •  Trade a huge number of assets from your phone
  • Demo accounts work on mobile
  • Market alert notifications
  •  No integration with biometric security for login
  • No MT4 mobile app support
  • Some user reviews report login issues on some devices

IG US – US accounts available:

Regulated By:NFA

Foundation Year:1974

Headquarters:Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA, UK

Min Deposit:$250

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Your Capital is at Risk

Your Capital is at Risk

IG US offers trading apps for iPhone, iPad, Android phones, and Android tablets. It’s great to have a dedicated tablet version of the app optimized for screens bigger than you can carry around in your pocket. The mobile app includes most of the same features you get from the full version of the IG platform on your desktop.

IG US allows you to set up custom trading alerts and enter advanced trades. You can get from a chart to the trade entry screen in just one tap and can view both at the same time even on the small screen. The app allows you to view market prices without logging in.

 Pros: Cons:
  •  Mobile support for more than 80 FX markets
  • Trade on the same screen as your chart
  • Push or SMS notification alerts
  •  Some user reviews indicate app navigation difficulties
  • No two-step authentication on mobile (available on the web)
  • No conditional orders on mobile

CMC Markets

Regulated By:FCA

Foundation Year:1989

Headquarters:133 Houndsditch, London EC3A 7BX

Min Deposit:$200

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Your capital is at risk

Your capital is at risk

CMC Markets offers apps for iPhone, iPad, and Android. Mobile apps feature 35+ technical indicators and a live market calendar with push notifications. Features include live streaming prices, custom watchlists, technical indicator drawing tools, order entry, and more useful account management features.

 

The app carries a 3.5 average rating in the Apple App Store and a low 1.9 rating in Google Play. That is due to user reports of an unstable app and an inability to log in. I imagine that when those issues are resolved, the Android rating should bounce back. Until then, it is ideal for iPhone and iPad users only. Enjoy the full CMC Markets review here.

 

 Pros:  Cons:
  • Custom charting and drawing features
  • Use the app with a free demo account
  • iPad app supports multiple charts at once
  • Android app has 1.9 average rating on Google Play
  • Some Android users report they can’t log in
  • Some users have difficulty reading small text size

FXTM

Regulated By:CySEC, FCA, IFSC

Foundation Year:2011

Headquarters:FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

Min Deposit:$10

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Your capital is at risk

Your capital is at risk

ForexTime, or FXTM, has an app available for iOS and Android devices. The new FXTM forex app gives you live currency rates, quick trade entry, and account management tools. Features include advanced charting and an option to turn on one-click trading for the fastest possible execution.

The mobile app includes access to a free demo account and the option to register a new account. The iOS version carries a 4.4 average rating and the Google Play version has a 4.4 average as well. You can use FXTM with the MT4 or MT5 mobile apps. Here’s our full FXTM review.

 

 Pros: Cons:
  • Log in with a password, PIN, or fingerprint
  • Free demo account available on mobile
  • Supports MT4 and MT5 mobile apps on Andriod and iOS
  • Some Android users with complex passwords have a login issue
  • Verification process may feel cumbersome
  • Some users have difficulty manipulating charts

AvaTrade

Regulated By:ASIC, BVI, CBI, FSA(JP)

Foundation Year:2006

Headquarters:Five Lamps Place, 77-80 Amiens Street, Dublin 1, DO1A742, Dublin, Ireland

Min Deposit:$100

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Your capital is at risk

Your capital is at risk

AvaTrade’s mobile app is called AvaTradeGO, and is available for iOS and Android devices. The mobile version from AvaTrade includes access to live feeds, social trends, charts, and account management. You can access multiple AvaTrade MT4 accounts and switch between a live and demo account.

The Android version has an average 3.5 rating while Apple’s version carries a 3.8 average. You can add custom watchlists, and get customer support in one of 14 languages if you get stuck. Integrated support features make it great for beginner traders. Our detailed AvaTrade review is here.

 

 Pros: Cons:
  • Integrated guidance, feedback, and support
  • Supports multiple accounts and demo
  • Customer support in 14 languages
  • Limited technical analysis indicators
  • Some advanced traders may find features limited
  • Phone verification required for new accounts