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7 Best Wire Transfer Forex Brokers for 2024

Looking for the top broker accepting bank wires? Based on our hands-on analysis, we’ve identified 8 best options tailored to various trading needs. Practical tips from our experts are included.

By:
Jitan Solanki
Reviewed By:
Aviva Gurevich
Updated: Jun 2, 2024

List of Top Forex Brokers Accepting Bank Wires

Best brokers for US traders

Zero deposit fees for wire transfers and debit card. Trade over 80 spot forex pairs. Competitive margin rates. Feature-rich IG Web Trader, MT4, ProRealTime platforms.

Zero fees for bank wire transfer deposits and withdrawals. Diverse range of futures markets available. No platform fees or routing fees. Easy-to-use futures trading app.

Best brokers for international traders

Deposit and withdraw in 6 currencies. Zero fees for wire transfers and other methods. ECN trading accounts. MT4, MT5, cTrader platforms.

Raw pricing, ECN accounts. Low fees, low spreads, zero requotes. No fees for wire transfers in 9 currencies. MT4, MT5, cTrader platforms.

Over 4,500 CFDs and futures contracts. MetaTrader 4 and cTrader platforms. Competitve trading fees. FIX API.

MT4, MT5 and Advanced Trader. Trading Central, AutoChartist, MT Master Edition. Receive a Swiss bank account with IBAN. Wire transfer in 23 currencies.

Commission-free trading accounts. AvaProtect to cover losses. Extensive educational materials. Zero fee wire transfers in 4 currencies.

How did FX Empire select the Best Forex Brokers Accepting Wire Transfers?

FXEmpire's Methodology

  • We identified the brokers that offer bank wire transfers.
  • We opened a live account to test bank wire transfer transaction times for ease of access to our capital.
  • We checked the wire transfer fees for deposit and withdrawal to ensure they are as low as possible.
  • We researched how many currencies are accepted for wire transfers to provide as much flexibility as possible.
  • We confirmed the broker is properly licensed and regulated to ensure the safety and security of our funds held with the broker.
  • We opened a live account to test the broker’s trading fees in real trading conditions to verify that they are as low as possible.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

Now let’s dive into the selected brokers.

Best Overall

Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
  • Min Deposit
    $100
  • Tradable Instruments
    8977
  • Fees
    Low

FP Markets is authorized and regulated by ASIC, FSCA, snd CySEC, but also has one unregulated entity based offshore. Founded in 2005 in Sydney, Australia, it allows wire transfers in 6 currencies with zero fees, provides access to forex ECN accounts for low spreads and permits trading from the MT4, MT5 and cTrader platforms, which makes FP Markets the best overall broker to consider.

Wire Transfer Features:

  • Accepted Currencies: AUD, USD, EUR, GBP, SGD, CAD
  • Deposit and Withdrawal Fees: Zero
  • Deposit Time: 1 business day
  • Withdrawal Time: up to 5 days, 1 day for AUD
  • Additional Payment Options: Visa, Mastercard, Neteller, Skrill, PayPal, POLi, FasaPay and PayTrust88

FP Markets offers a great range of tools and products that provide an overall excellent trading experience. I appreciated the fact that FP Markets facilitates the use of forex ECN pricing trading accounts, enabling you to benefit from tight, competitive spreads.

I was particularly impressed with the number of available trading platforms. I found that you can trade from MT4, MT5 and cTrader. These are the go-to forex trading platforms in the industry and come packed with lots of features such as in-built technical analysis indicators and drawing tools.

I also found that you can access a good range of trading tools such as Trading Central and AutoChartist. These tools provide real-time trading ideas based on technical analysis patterns which, from my own personal experience, can be a great addition to your trading arsenal.

During the course of our live fee test, we found that there are zero fees for deposits but only up to 50 USD is covered for international deposit fees for accounts greater than 10,000 USD.

Pros
  • Zero-fee deposits and withdrawals in 6 currencies.
  • Forex ECN trading accounts.
  • MT4, MT5, cTrader platforms.
  • Trading Central and AutoChartist tools.
Cons
  • Doesn’t feature a proprietary platform.

Best Low Spreads

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
  • Min Deposit
    $200
  • Tradable Instruments
    2251
  • Fees
    Low

Founded in 2007, IC Markets is authorized and regulated by the FSA Seychelles, CySEC, SCB and ASIC and has some of the best fees in the industry. This includes zero wire transfer fees in 9 currencies, raw pricing low spread trading accounts with low fees and zero requotes.

Wire Transfer Features:

  • Accepted Currencies: AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, CHF
  • Deposit and Withdrawal Fees: Zero
  • Deposit Time: 2 5 business days
  • Withdrawal Time: 24 hours (but can be up to 14 days for international wires)
  • Additional Payment Options: Visa, Mastercard, Skrill, Neteller, UnionPay, Bpay, POLI, Rapidpay and Klarna

If you’re looking for rock bottom fees, then IC Markets could be an option for you. I found that the broker not only offers zero fees for deposits and withdrawals, but also provides some of the best trading fees in the business.

During the course of our live fee test, I discovered the spread for EUR/USD during the London and New York sessions averaged 0.65 pips, which is well below – nearly half – of the industry average of 1.0 pips on a commission-free trading account.

I also found that you can access even better spreads from the cTrader Raw Spread account, where spreads on EUR/USD start from 0.0 pips and average around 0.1 pips during the most active sessions. There is a commission of 3 USD per lot, per side, which is better than the industry average of 3.50 USD per lot, per side.

As IC Markets provides services geared towards high-frequency, algorithmic traders, there are also no requotes or minimum order distance restrictions which means you can place orders as close to the market price as you want – a unique feature in the industry.

Pros
  • Low fees, low spreads, zero requotes.
  • Zero wire transfer fees.
  • MT4, MT5, cTrader platforms.
  • High leverage.
Cons
  • Advanced features may be overwhelming to beginners.

Best for Crypto Trading

Your capital is at risk
  • Min Deposit
    $10
  • Tradable Instruments
    223
  • Fees
    High

Best for Professional Traders

Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.
  • Min Deposit
    $1000
  • Tradable Instruments
    506
  • Fees
    Medium

Founded in 1996, Swissquote is a top broker to consider for professional traders. Authorized and regulated by Switzerland’s FINMA, you can trade multiple asset classes from MT4, MT5, and Advanced Trader using additional plugins such as Trading Central and AutoChartist. Furthermore, it provides access to robo-advisory services, credit solutions and a Swiss bank account with a personal IBAN number.

Wire Transfer Features:

  • Accepted Currencies: CHF, EUR, USD, AED, AUD, CAD, CZK, DKK, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, THB, TRY and ZAR.
  • Deposit Fees: Zero
  • Withdrawal Fee: 2 CHF, 10 EUR/USD/GBP, 20 AUD
  • Deposit and Withdrawal Time: up to 1 working day
  • Additional payment options: Visa and Mastercard.

If you are a professional trader looking for a wide range of markets, platforms, tools and services, then Swissquote could be an option for you. From our live test, I found that you can trade from the MT4 and MT5 trading platforms and access more than 450+ financial instruments covering forex, stocks, indices, commodities, bonds and FX options.

There is also the option of trading with Swissquote’s web-based platform called Advanced Trader. From testing this platform live, I particularly enjoyed how clean and responsive the charting was for a web platform and was impressed with an array of 120+ technical indicators and drawing tools available.

However, where Swissquote particularly shines for professional traders is in its selection of tradable instruments. The broker provides access to 3 million tradable products from the Swissquote web platform, including stocks, ETFs, private equity, options, futures, cryptocurrencies, IPOs, money markets, mutual funds and more.

Given this product diversity, alongside the provision of a Swiss online banking platform with a personal IBAN, Swissquote is an exceptional broker for those seeking a professional trading experience.

Pros
  • Swiss regulated.
  • 3 million+ investment products.
  • MT4, MT5, Advanced Trader.
  • Wire transfer in 23 currencies with your personal IBAN.
Cons
  • High withdrawal fees outside of Switzerland.

Best Trading Platform

CFDs are complex instruments and are not suitable for everyone as they can rapidly trigger losses that exceed your deposits. You should consider whether you understand how CFDs work.
  • Min Deposit
    $0
  • Tradable Instruments
    72962
  • Fees
    Low

Best for Beginners

Trading CFDs and FX Options entail risk and could result in the loss of your capital.
  • Min Deposit
    $100
  • Tradable Instruments
    853
  • Fees
    Medium

AvaTrade was founded in 2005 and is authorized and regulated by CySEC, ASIC, DBI, ISA, FSCA, BVI FSC, FSA Japan and FSRA Abu Dhabi. With zero fee wire transfers, commission-free trading accounts, a great range of educational materials and risk management tools, it represents a good option for beginners.

Wire Transfer Features:

  • Accepted Currencies: EUR, USD, GBP, AUD
  • Deposit and Withdrawal Fees: Zero
  • Deposit Time: Up to 7 days
  • Withdraw Time: 24 48 hours processing, up to 10 days to receive
  • Additional Payment Options: Visa, Mastercard, Neteller, Skrill and WebMoney

If you are a beginner trader, then you may like to know that AvaTrade offers the use of a free demo trading account, that gives you an opportunity to practice your skills in a virtual trading environment risk-free. If you are ready for a live account, then you can use a commission-free trading account, where the majority of the costs are included in the spread, making your life a lot easier.

During our live test, I was particularly impressed with AvaTrade’s risk management tool called AvaProtect. This tool allows you to get your money back on losing trades. You set the protection in advance for a small fee, which acts like a hedge. If your trade loses during this protection period, AvaTrade will cover the loss.

I found the AvaProtect feature is only available on AvaTrade’s web and mobile platform for forex, gold and silver markets. If you prefer to trade on MT4, then there is the AvaGuardian Angel plugin for the platform which can help you to identify your mistakes and help to boost your confidence in trading.

With a range of extensive educational materials such as videos, eBooks and courses AvaTrade is a top choice to consider for beginner traders.

Pros
  • AvaProtect to cover losses.
  • AvaGuardian Angel MT4 plugin.
  • Extensive educational materials.
  • Zero fee wire transfers in 4 currencies.
Cons
  • High inactivity fee.

Best Overall in the US

Forex trading involves risk. Losses can exceed deposits.
  • Min Deposit
    $250
  • Tradable Instruments
    82
  • Fees
    Low

Founded in 1974, the IG Group is publicly listed on the London Stock Exchange. IG US, which launched in 2019, is registered with the CFTC and is a member of the NFA. Offering margin-based forex trading, IG US provides access to over 80 spot forex pairs through an excellent range of trading platforms.

Wire Transfer Features:

  • Accepted Currencies: USD
  • Deposit Fee: Zero
  • Withdrawal Fee: $15
  • Deposit Time: 1 business day
  • Withdraw Time: 24 hours
  • Additional Payment Options: Debit card, ACH

IG US offers an impressive range of spot forex pairs, including majors, minors, exotics, and emerging market currencies with impressive margin rates. For EUR/USD, US traders only require a 2% margin. With $2,000, you can open a position worth $100,000, which is better than what non-US traders are offered.

During our live fee test, I found the spread for EUR/USD averaged 0.8 pips, beating the industry average of 1.0 pips for a commission-free trading account. High-volume traders can also access spread rebates. For example, you can receive 5% back on your spreads if you trade more than $100 million in notional value monthly.

The broker offers three trading platforms, including IG Web Trader, MT4, and ProRealTime. I find the IG proprietary platform an excellent way to trade the market. With a user-friendly design, fully customizable features and built-in trading signals from Autochartist, it’s worthwhile exploring for beginner and advanced traders.

Pros
  • Multiple trading platforms.
  • Trading signals from Autochartist.
  • 80+ forex pairs.
  • Zero commission trading.
Cons
  • Only forex pairs available.

Best Futures Trading Platform in the US

Trading with leverage comes with a high risk and may not be suitable for everyone.
  • Min Deposit
    $100
  • Tradable Instruments
    52
  • Fees
    Low

The Plus500 Group was founded in 2008 and is a publicly traded company on the London Stock Exchange. In 2022, it launched its Futures Trading App for US residents, offering access to a wide range of futures markets with zero platform and routing fees.

Wire Transfer Features:

  • Accepted Currencies: USD
  • Deposit Fee: Zero
  • Withdrawal Fee: $15
  • Deposit Time: 1 business day
  • Withdraw Time: 13 business days
  • Additional Payment Options: Debit card, ACH

During our live test, I found that the Plus500 Futures Trading app offers an excellent selection of futures markets covering asset classes such as forex, metals, crypto, interest rates, energy, agriculture, and equity indices. There is a mix of standard and mini contracts with zero platform and routing fees.

The Plus500 Futures Trading Academy offers a fantastic selection of educational materials. This includes videos covering key terminology, understanding futures contracts, and tips on using futures trading strategies. The articles are well-written, in-depth, and worth exploring.

Pros
  • Good range of futures markets.
  • Standard and mini contracts available.
  • Easy-to-use futures trading app.
  • Free real-time market data.
Cons
  • Limited research tools.

How to choose a broker that accepts wire transfers?

The ability to deposit and withdraw funds as quickly and cheaply as possible is a key component to running a successful trading business. However, there are other factors, you also need to take into consideration. Some of them are discussed in the next section.

How to choose a safe forex broker?

Not all financial trading brokers are equal when it comes to ensuring the safety and security of your trading execution and funds. Therefore, it is crucial to choose a broker that has the proper authorization and regulation from a recognized financial authority. This ensures that the broker adheres to the highest standards in executing your trades and looking after your funds.

Some of the world’s most common and highly rated forex and CFD regulators include the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and several others.

It’s worth noting that certain brokers may establish themselves in offshore jurisdictions with lower regulatory requirements and oversight. With these types of brokers, more due diligence is required when researching how safe and secure they are.

You can check the broker’s licenses and authorizations on the regulator’s online register, as well as do your own research on the broker’s history and reviews from other traders. Or you can just see our detailed guides on the best CySEC regulated brokers, best ASIC regulated brokers and best FCA regulated brokers.

What fees should you be aware of when choosing a forex broker?

Trading the financial markets involves costs. It is important to choose a broker that offers competitive fees but is also safe and secure. Here are some common factors to consider:

  • Spreads: This is the difference between the buy and sell price. Check out our guide for the best forex brokers with lowest spreads.
  • Commissions: Some brokers may charge a commission to enter and exit a trade.
  • Swap/Rollover fees: This is a fee to hold a leveraged (CFD) position overnight and is based on the interest rates of the currency you are trading and a broker markup. Discover best low swaps forex brokers.
  • Deposit and withdrawal fees: Some brokers charge a fee for depositing and withdrawing funds, while others do not.
  • Conversion fees: If you send a different currency to an account opened in another currency, the broker will have to convert it for you and may charge a conversion fee.
  • Inactivity fees: Some brokers may charge a fee if a trading account is inactive for a while.

Ideally, you want all of these fees to be zero or as low as possible. When checking the broker’s deposit and withdrawal fees for bank wire transfers you should also check the fees for its other payment methods.

In my experience, if there are any problems with your bank, having alternative options to deposit and withdraw funds is beneficial.

What is the best type of forex account to trade with?

Brokers typically offer a range of account options, catering to both beginners and professionals. These options may include commission-free trading accounts as well as commission-based trading accounts. It’s worth noting that accounts that have the most amount of features or best terms (such as fees) tend to come with higher minimum deposit requirements.

Explore Best STP forex accounts and Best ECN forex accounts.

Conducting thorough research into each account type offered by a broker, along with the features each account includes, is a good way to identify what account aligns with your needs as a trader.

A demo account is a good starting point. Many brokers offer this type of account, which allows you to trade in a risk-free way. It’s a good way to test all of the features and services a broker provides to identify what is best for you.

Read more about Best forex demo accounts.

What is the optimal leverage to trade forex with?

Leverage enables traders to open larger positions with a smaller deposit, amplifying both profits and losses. Brokers under the supervision of well-established Tier-1 regulators, such as the UK FCA, ASIC, and CySEC are legally required to offer retail traders maximum leverage of up to 1:30 when trading forex.

In practical terms, this means you can open a position that is 30 times larger than the capital you invest. However, brokers who are regulated by offshore financial authorities may advertise higher leverage, such as 1:1000, as they have less stringent regulations to adhere to.

Exercise caution when dealing with brokers that heavily promote extremely high leverage. While it may seem appealing, Tier-1 regulators impose leverage restrictions on retail traders for a reason: to ensure a responsible, safe, and risk-managed way to trade the market.

Check out our list of the Best forex brokers with high leverage.

What is the best forex trading platform to use?

A reliable trading platform should provide fast, easy access to the world’s financial markets and a suite of trading tools for technical analysis. Here are some popular trading platforms offered by retail brokers:

  • MetaTrader 4 (MT4): The original, go-to forex trading platform, providing a suite of inbuilt technical analysis tools, customizations, and automated trading capabilities.
  • MetaTrader 5 (MT5): An upgraded version of MT4, offering additional technical features for advanced analysis.
  • cTrader: Highly regarded for its advanced charting tools, primarily designed for high-frequency traders.
  • Broker’s proprietary software: Some brokers have their own customized trading platforms.

MT4, MT5, and cTrader are the most common forex trading platforms offered by retail brokers. While they have a steep learning curve, they are all well worth the time spent learning, as they come packed with free indicators, tools, and support. Read more about each trading platform in our detailed guides on the best MT4 brokers, best MT5 brokers, and best cTrader brokers.

I prefer using a variety of platforms and switching between a broker’s web and a desktop platform version. So, if one platform experiences some issues, there is another one I can use.

While I do not trade off a mobile, many people do. Test all of the platforms available to you via a demo trading account to see what works best for you and your trading style.

Read more about Best forex trading platforms.

What to avoid when choosing a forex broker?

When selecting a forex broker, prioritize the safety and security of your funds first and foremost. To do this, here are some key things to avoid:

Brokers that are not regulated by a recognized financial body. It is wise to always opt for brokers regulated by reputable financial bodies. Unregulated brokers pose a significant risk since they lack accountability, making it difficult to gain any help in case of fraudulent activities.

A fee structure that is not clearly written on their website and terms and conditions. A good quality broker has nothing to hide. Choose brokers with transparent fee structures that clearly outline spreads, swaps, commissions, and deposit or withdrawal fees. You can test the broker with a live account using a small amount of funds first.

Marketing claims of guaranteed profits and high returns. There are now many more offshore forex brokers than ever before. As they are not regulated by a proper financial body there are no standards to what they can claim.

How to avoid forex and CFD scams?

Unfortunately, there are many forex and CFD scams out there nowadays. However, you can protect yourself by following these simple steps:

  • Select a regulated broker: Choose a broker that is regulated by a financial authority to ensure credibility and accountability.
  • Beware of unrealistic promises: Be cautious of brokers offering overly attractive deals or guaranteed returns, as these are warning signs of potential scams.
  • Research the broker: Read reviews and learn from customer experiences to gain insights into the broker’s reputation and reliability.
  • Start with a demo account: Utilize a demo account provided by the broker to familiarize yourself with their platform and services before investing real money.
  • Prioritize secure banking methods: Verify that the broker uses secure payment gateways with well-known banks and credit card and debit card companies.

By following these guidelines, you can navigate the forex and CFD trading world more safely and avoid falling into traps set by dishonest, scam brokers. You can also check a comprehensive list of reliable brokers by jurisdiction here.

Our Methodology

Being at the forefront of the broker review industry, the team at FX Empire takes great pride in our ability to provide you with the best information possible to trade the financial markets. Over the years, we have fine-tuned our comprehensive 250-point data point checklist to adapt to how the markets have changed over time.

Now, our broker rating system checklist covers nine core categories which include trustworthiness, fees, platforms and tools, tradable assets, customer support, deposit and withdrawal processes, account types, research capabilities, and educational resources.

When it comes to choosing the best forex brokers that offer bank wire transfers, I have taken the valuable insights shared by our expert team and, along with my own personal trading experience, have curated the list of best brokers to consider, taking into account following factors:

  • Clear and transparent wire transfer fees
  • Fast wire transfer transaction time
  • Wide range of currencies for wire transfers
  • Proper licenses, authorizations, and regulations of the broker
  • Competitive and clear trading fees
  • Alternative deposit and withdrawal options

Meet our Writers

The team of forex and CFD analysts and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Get to Know Our Authors

Dan BlystoneBroker Analyst

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 licenced 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 SolankiBroker Analyst

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.

Plamen StoyanovBroker Analyst

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.

Vladimir ZernovBroker Analyst

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.

Typically, your broker will have an online portal in which you can deposit funds using your bank wire transfer details. The name on your trading account will need to match the name of your bank account to comply with Anti-Money Laundering regulations.
A broker will usually have this option available in their online payment portal. You just need to set the amount and the funds will be withdrawn to the bank account you funded the forex account with.
While some brokers will charge a fee to deposit and withdraw funds using a wire transfer, many brokers will not charge any fees. Your bank may charge a fee for a transaction so you should also check with them.
Of the brokers who do charge a fee for wire transfers, the range can vary. I have seen brokers charge zero to $50 for a withdrawal. Check with the broker first and only choose a broker you are happy with.
A broker may charge a conversion fee if you try to send a different currency than the base currency of your account. For example, if your account is in USD but you send GBP, they may charge a fee to convert the currency.
This will depend on the broker. For a verified client, I have seen limits up to $50,000 a day. However, to comply with Anti-Money Laundering regulations you may need to withdraw 100% of your deposit to your original deposit method first before using any other method.
Most brokers will process the withdrawal transaction within 24 - 48 hours. Then it may take several working days to reach your bank account, possibly longer for an international wire transfer.
You can choose the currency you are sending as it is coming from your bank account. Ensure the base currency of the account you open with the broker is the same; otherwise, you may end up paying conversion fees.
Negative balance protection is a policy that will close out all of your trades in case of a sudden, black swan event in the market to avoid your account balance going below zero and owing money to the broker.
As negative balance protection is a good policy to have a broker would normally make this clear on its website. You can check the broker’s website, legal terms and conditions documents and ask customer support. If it’s not written, it’s unlikely the broker will offer it.
A compensation scheme protects client funds in case the broker becomes insolvent. The scheme will reimburse the clients up to a certain level.
As this is a good selling point for a broker, it would usually be advertised on the broker’s website. Research the website, check the legal terms and conditions document, and ask a customer support agent. If it is not detailed anywhere, then it is unlikely they will be part of a compensation scheme.
A segregated fund is a fund that holds client capital separately from company capital. This ensures the broker is not using client funds to run the business.
If a broker segregates client funds from their own it would normally be advertised on the broker’s website. Check the website, as well as the broker’s legal terms and conditions document or ask a customer support agent. You should also confirm the bank the funds are held with. If it’s not written down or customer support does not know, then it is unlikely the broker segregates client funds from their own.

About the Author

Jitan SolankiBroker Analyst

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.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.