Best forex brokers 2021

Before you start trading and profiting on your trades, you first should deposit funds into your forex account.

Huge forex bonuses

Best Forex Brokers in 2021, best forex brokers 2021.

And in order to be able to spend your profit, you first must withdraw the funds from your account. Therefore you should ask your forex broker how easy it is to deposit and withdraw funds and what options they offer. The most common two methods for deposit and withdrawal are wire transfer and credit card. However, say you are only willing to deposit money into your account by neteller, so you have to ask the broker if you can do it by this certain way before even sending your application and submitting your documents. Make sure they offer the methods that suit best to your preferences. These are the most important six criteria to consider when choosing a forex broker,

Best forex brokers in 2021

Here at top 10 forex brokers, I try my best to assist you to choose the most suitable forex broker for your experience and trading style. I consider several factors while reviewing and ranking forex brokers. In this article, I am going to talk about the most important six of those factors.

First things first, I find no excuse for not to repeat that working with a reliable forex broker comes before anything else in forex trading. You may have found the holy grail and your strategy could be making thousands of bucks every month consistently. However what good is it to be if you selected a vulturous forex broker?

These are the most important six criteria to consider when choosing a forex broker;

Regulation

This should be the first and by far the most important question to ask your forex broker. Compliance with strict standards and safety of your funds come before any other affair in trading in my humble opinion and it is ensured by the strict regulation. Imagine that you have a winning trading strategy under your disposal and you are earning a decent amount of money on forex trading, however consider whether it really matters, if you are not going to be able to withdraw your profit from the broker.

FCA (UK), ASIC (australia), CFTC (US) and SEC (US) are the regulators which I respect the most and I would comfortably say that any broker that are under the jurisdiction of those regulators are to be trusted. They will ensure that the broker you are trading with is not located in a tropical off-shore island where you are going to be able to reach if anything goes wrong with your account and trades. So regulation, regulation, regulation guys… but of course by a reputable regulator.

Questions to Ask Your Forex Broker - Is the Broker Regulated

The broker’s past

A company’s history tells a lot about its success and customer satisfaction. You know very well that a fraud company cannot stay in the business for long time. This is particularly true for forex sector. I would recommend you to look for your forex broker to operate in forex business for at least five years. Scams only survive for few years and even less if they are regulated by one of the strict regulators such as FCA, ASIC and CFTC.

Spreads and commission

Spreads and commissions are the primary criteria for many investors when they choose a forex broker. It makes sense since traders’ goal is to earn money and lower the spread and commission higher the profit for trader. Especially for those traders whose trading strategy is based on scalping and short term trading, lower cost of trading determines the difference between a winning and losing trade. No doubt that this is crucial however it is at third place on my list because, again, how it matters if you get super low spreads from a broker but it is not regulated and you don’t know if you could withdraw your profit.

Deposit and withdrawal options

Before you start trading and profiting on your trades, you first should deposit funds into your forex account. And in order to be able to spend your profit, you first must withdraw the funds from your account. Therefore you should ask your forex broker how easy it is to deposit and withdraw funds and what options they offer. The most common two methods for deposit and withdrawal are wire transfer and credit card. However, say you are only willing to deposit money into your account by neteller, so you have to ask the broker if you can do it by this certain way before even sending your application and submitting your documents. Make sure they offer the methods that suit best to your preferences.

Instruments and products

Okay, you have been trading forex all the way till now however you have just read a report and are convinced that there is a great buy opportunity on gold. You go through your broker’s instrument list and no, gold is not there. Phew, you have just missed a potential profit dude. I am the same. I am trading forex pairs most of the time but I still would like to have other instruments at hand. Not only precious metals though. Make sure that CFD indices, oil, agricultural and soft commodities are present and ready for trading on your platform.

Trading platforms

You have been trading with metatrader for long time and it is the only way for you to trade. Now you have signed up with a new broker just to see that they are not offering metatrader. Ouch, big frustration. Most of the brokers offer metatrader as the standard trading tool but it is not rare to see brokers developed their own platform and only providing clients with their unique trading software. If you were planning to use an EA programmed for metatrader, you were most likely not going to be able to do it. So it is always a good idea to ask your forex broker up front what trading software they provide.

So based on those six criteria, what are the best forex brokers in 2021? After trying and trading with more than hundred forex brokers, these are the top 5 forex brokers considering and combining regulation, withdrawal and deposit methods, spreads and commissions, trading platforms and brokers overall reputation;

Headquarters: USA
min deposit: $0
leverage: 50:1

Headquarters: UK
min deposit: $5
leverage: 888:1

Headquarters: cyprus
min deposit: $5
leverage: 1000:1

Headquarters: cyprus
min deposit: $100
leverage: 1000:1

Headquarters: UK
min deposit: $100
leverage: 500:1

Best forex brokers 2021

Forex is one of the most liquid financial markets that attract more investors year by year. By 2019, the total daily turnover is equivalent to $5 trillion, having grown from $1 trillion twenty years ago. This knowledge makes it one of the most liquid and attractive financial markets with 24/7 availability. For successful forex trading, a trader needs to choose a “service provider”, namely a brokerage company. This choice should be approached thoughtfully and thoroughly. The correctness of this choice in the future will depend on your financial success. During this year we have written many articles in which we paid attention to the specifics of the work of brokerage companies. We worked for this score for a long time and now we would like to bring it to your attention.

Cysec (cyprus)

ASIC (australia)

FCA (united kingdom)

Bafin (germany)

CNMV (spain)

ACPR (france)

AFM (netherlands)

Leverage up to 1:888

No commissions

No fees on deposits and withdrawals

Negative balance protection

Wide range of accounts

Inactivity fee

Doesn’t offer services to residents in the USA, canada, israel, and iran

Easy to start system

Very solid and welcome customer support service

Many deposit methods are available

High leverage

Offers zero spread account

Inactivity fee

Fees on some withdrawal methods

No bonus offers are available

High withdrawal fee for bank transfers

FCA (UK)

ASIC (australia)

FSB (south africa)

FINMA (switzerland)

DFSA (united arab emirates)

MAS (singapore)

JFSA (japan)

Stop-loss system

Well-designed platform

Over hundreds of markets to trade

Retail clients are not allowed to trade on interbank

Support & sales teams are willing to force you to fund an account immediately

There are various fees are present

FSCA (south africa)

FCA (UK)

ASIC (australia)

JFSA (japan)

BVIFSC (british virgin islands)

Over five certificates from the solid regulators

Multi-languages support (15), the user interface is available on 20+ languages

Social trading features

The US investors are not allowed

No NFA’s certificate

Various fees system

There are not enough trading features

Lack of deposit methods

NFA (US)

FCA (UK)

ASIC (australia)

FSA (japan)

IIROC (canada)

CIMA (cayman islands)

SFC (hong kong)

MAS (singapore)

The US-based regulation

8 regulators’ certificates

Very solid app and PC interfaces

Great variety of currency pairs

Lack of deposit methods

Little leverage

High fees

The limited list of products

High level of the minimum deposit

Low level of the leverage

Withdrawing from PAMM before the period comes will charge additional fees

FSA (denmark))

FCA (UK)

FINMA (switzerland)

ASIC (australia)

DFSA (united arab emirates)

MAS (singapore)

SFC (hong kong)

JFSA (japan)

8 regulators’ certificates

High level of the max leverage

Huge amount of currency pairs

Min. Deposit over $500

Specific trading platform

Inactivity fee, high forex and other fees

FCA (UK)

KNF (poland)

IFSC (belize)

CNMV (spain)

ACPR (france)

Bafin (germany)

High leverage

Relatively fast deposit and withdrawal

Good user interface

FCA (UK)

ASIC (australia)

IIROC (canada)

FMA (new zealand)

MAS (singapore)

High leverage

No minimum deposit requirements

Popular among traders broker

Huge amount of currency pairs (over 300)

20+ years online

Low level of min. Deposit

Exclusive features in charting

The most common option in choosing forex broker

Every brokerage company has some criteria and average features to be compared. Let’s take a look at the main of them:

Affordability. Each brokerage company sets its minimum deposit threshold value for funding. Typically, this amount starts at $100. Novice traders must make a balanced decision for themselves on how much they can afford to lose. At the same time, you should pay attention to whether the broker fits for you, or whether you should choose another one that is more suitable, but with a higher minimum level of the first deposit.

Deposits and withdrawing. This option is no less important than the previous one. You, as a trader, should easily manage your funds and, if necessary, withdraw them quickly and without high commissions. The broker’s money returning duty determines its decency and reliability.

Market coverage. You have to check the availability of trading needed currency pairs.

Trading terms and trading fees. This option is very important because the appetites of forex brokers can vary dozens of times. Before you get started, you should calm down and calculate how much you’ll give to the brokerage company from the moment you start trading until withdrawing your money in a way that is convenient for you.

Trading platforms. There are many of them. They’re a sword and shield of yours. Depends on features that you allow to customize and working speed you’ll be able to experience which one suits you the best. Personal presets are a huge part of your trading success.

Mobile app. A lot of people prefer fully-automated trading robots. Their performance can be checked without a PC. It’s an important option that allows you not to work on a PC and be mobile.

Customer support. It’s a very important option, especially for beginners, but it’s hard to check it without directly contacting the support.

Reputation. It’s an important part because trading is all about trust. If you see people angry at the company, so, you can entrust your funds and feel that your money is in safety.

Regulation. Before getting started, you have to check how the brokerage company works with your country’s laws. A lot of them have got some restrictions. If you skip this step, you’ll probably be able to fund the account, but you’ll have a huge problem with withdrawing.

The base of knowledge. The solid brokerage company provides a lot of courses, as well as, literature and material to let you get a smoother start in forex trading.

User interface. Everything should be simple and predictable in order to help you to make quicker decisions and be a better trader.

Picking the best forex brokerage company: completed guide

Let’s describe more detailed some of the most important brokerage company’s features.

Market regulators

Here we go “regulation”. In our opinion, this is the most important and fundamental option in the broker’s work, directly related to how much investors will trust it with their money. Regulators are interested in the stability of the forex market and the transparency of financial transactions. Due to the huge volume of assets (more than $5 trillion), there is always a risk that drug dealers, arms dealers, corrupt officials, and other dishonest people and organizations want to use forex as a laundry machine for their capital.

We would like to note that there are several regulatory organizations. As a rule, the more solid and successful the broker, the longer it operates on the market and the more capital traders manage through it, the more organizations assign it an appropriate level of security and transparency.

The list of the most influential regulators look like:

NFA (the national futures association) in the united states;

ASIC (australian securities and investments commission) in australia;

Cysec (cyprus securities and exchange commission) in europe;

FCA (financial conduct authority) in the united kingdom.

There are other regulators, such as those based on offshore islands. We believe that companies that have received certificates in offshore jurisdictions cannot be as reliable as brokers who received them from our listed regulatory authorities.

Types of the provided accounts

There are few types of account brokers can offer.

The first type is a live account. You fund it and trade for real money. Everything you do on the account becomes your gain or loss.

The second type is a demo account.

Most demo accounts are designed to let new traders try the service, see how a brokerage company works and can test the application of various strategies before investing in real money in trading.

Platform for trading

Choosing a trading platform you’re most comfortable working with is no less important than choosing a broker. The main thing for the trader is not only that the platform lets you easily manage every day’s duties, but also the broker supports the work with this platform.

Ctrader and metatrader are the most popular across the traders’ platforms. Metatrader provides two versions of it: metatrader 4 and metatrader 5. These platforms are quite complicated for beginners. Ctrader is a wise simpler one and fits for every skill of traders from professional ones to brand new investors.

You should also pay attention to how convenient and fast the android or IOS based applications. It can be either a proprietary application from a broker or a metatrader one.

Forex broker types

There exist several types of brokers: market maker brokerage companies and direct market access ones. DMA brokers separated into two types ECN and ECN/STP.

Electronic communication network (ECN) brokers allow you to trade only between other traders. So if no liquidity is on the market, your trades will get slippage, and you get a requote. ECN system removes the base of the potential conflict of interests between a trader and brokerage company.

Using ECN allows you to trade throw large financial institutions or global banks. The traders got access to the interbank market directly to see a clear picture of what’s happening in markets.

ECN/STP. Straight through processing is the technology used by ECN brokers for placing trades on the market. FIX (financial information exchange) protocol uses to place orders to the counterparty.

The FIX protocol is needed to decrease the needed time for performing trades, reduces slippage and make sure that traders get the best possible price. Some of these brokers can prevent requoting and reduce slippage.

Depending on trades and trader account the system decides what performing method is the best for the customer.

STP is applied when there’s enough liquidity to a particular trade. If there’s a lack of it, ECN takes liquidity from the inner network.

ECN/STP combination allows traders to perform their deals faster.

Market makers (dealing desks). It’s a type of brokerage companies where the company becomes a market maker the brokerage company always provides needed liquidity but, as well as, always trade against its customers that can be a reason for a conflict of interests.

Conditions for trading

Leverage is necessary so that traders with small capital can benefit from trading. This capital gives loans to a liquidity provider through a forex broker directly to a trader to expand trading volumes. The trader himself or herself is fully responsible for these funds and their return. Leverage is usually displayed in a ratio format, for example, 100:1, which means that one unit of trader’s money for one hundred borrowed units. This also means that trading volume will increase one hundred times. Using large leverage significantly increases the risk of trading. In turn, many regulators can limit the maximum allowable leverage that a broker can offer its clients.

Spreads are measured in pips and show the difference between buying and selling one currency to another in a currency pair. This is a kind of brokerage commission for access to the market. You can also get a lot of very important information from the spreads.

For example, the closer the buy and sell prices are, the more profitable it’s for a trader to work with this broker for these currency pairs. That’s why, often, traders choose different brokers for different currency pairs.

Trading assets

The better than the average broker has got over 40-50 forex pairs to trade.

The hedging option is designed to have insurance in case of adverse market conditions. One of the most common strategies is direct hedging. Brokers themselves do not always support this option for their clients.

Scalping strategy

The scalping strategy allows the trader to profit from quick, usually associated with news, price changes. This strategy is designed to make a profit in a short period of time until the market calms down. Traders applying this strategy usually trade during the day and close all their deals in the evening.

Frequently asked questions

What should I do the first looking for the forex brokerage company?

First of all, you have to take a look at the amount and availability of demo accounts. The new investor has to know what’s going on in the market, how to customize metatrader or one of the other platforms. It takes some time before you get ready to fund the first real account of yours. Usually, demo accounts expire quickly, so you’ll be able to renew it (them) to practice more. During this period you have to read some books about trading strategy and you should pick one that fits you the best. As well as, books there are infinity video courses and various webinars from educational to “the next week trading goals” ones.

How do I know the brokerage company is good for me?

So… it’s the complicated question to answer to. First of all, if you’re a beginner, check the availability of demo accounts. The second one is the fees. It’s very important to know exactly from the start how much money you’ll have to pay from each, as an example, $1000 profit from the moment of having this amount of money on the account for withdrawing it by the payment system that fits you the best. The third one, check the broker’s certificate. You’d better start working with the forex broker that has got a certificate provided by the regulator from your area, where your country from in order to not mess up with financial regulators, as well as, the texas department.

These three are must follow criteria.

How often a brokerage company trades against me?

It’s the wrong question. The broker will be trading against you only if you’re willing it choosing a brokerage company with market maker type. If you’re not okay with that, ask the broker’s support to know what kind of the brokerage company they really are.

Where is a broker’s profit?

How we told before market makers get money trading against you. If we talk about all trading companies in general, all brokerage company makes money from the difference between buying and selling prices, as well as, for charging fees and commissions.

May I deposit my account by bitcoin?

Brokerage companies are interested in providing various payment methods for their customers. Usually, bitcoins are acceptable, but other cryptocurrencies are not. Don’t forget most of the brokerage companies allow withdraw only by the payment method you fund the account for avoiding money laundering.

Best forex brokers in 2021

These are the most important six criteria to consider when choosing a forex broker;

Regulation

The broker’s past

Spreads and commission

Deposit and withdrawal options

Instruments and products

Trading platforms

Headquarters: USA
min deposit: $0
leverage: 50:1

Headquarters: UK
min deposit: $5
leverage: 888:1

Headquarters: cyprus
min deposit: $5
leverage: 1000:1

Headquarters: cyprus
min deposit: $100
leverage: 1000:1

Headquarters: UK
min deposit: $100
leverage: 500:1

Top 6 best forex brokers with no deposit bonus for 2021

Top rated:

What better way to start trading than with a no deposit bonus forex broker? This should give you the perfect start to trading with some risk-free funds. To help you achieve that goal, we have put together a collection of the best regulated forex brokers in the market who offer a no deposit bonus to traders.

Beyond looking at more details of these top brokers, we will also provide more information on no deposit bonus availability, and how you can use these bonuses to your advantage when trading.

What is a no deposit bonus?

Very simply, a no deposit bonus is an amount of money which is given to you as a trader just for completing the broker registration process. This means that you do not have to deposit any of your own real funds to gain access to this no deposit bonus.

No deposit bonus: are they available in the EU?

Unfortunately, the answer to this question is no. The no deposit bonus offers are not available in the EU. This is due to the fact that the european market regulator, ESMA, has banned certain types of forex broker bonus offers under the mifid II regulations.

The result is that forex brokers’ no deposit bonus offers, and any kind of registration bonus offers are not allowed for traders who are in the EU.

Please note that the following bonuses are available only to people based outside the EU. Moreover, we do strongly suggest to not judge the broker based solely on the no deposit bonus, but on the suitability to your trading goals and preferences.

Top 6 best brokers with no deposit bonus

Here is a closer look at the top brokers we have selected who do offer a no deposit bonus.

25 best UK forex brokers for 2021

The forexbrokers.Com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Trading forex (currencies) in the united kingdom (UK) is popular among residents. Before any fx broker can accept UK forex and CFD traders as clients, they must become authorised by the financial conduct authority (FCA), which is the financial regulatory body in the UK. The FCA's website is FCA.Org.Uk. We recommend UK residents also follow the FCA on twitter, @thefca.

The FCA was formed out of the financial services act of 2012, effectively replacing its predecessor, the financial services authority (FSA). For a historical breakdown, here's a link to financial conduct authority webpage on wikipedia.

Best UK forex brokers for 2021

To find the best forex brokers in the UK, we created a list of all FCA authorised brokers, then ranked brokers by their trust score. Here is our list of the top UK forex brokers.

IG - best overall broker 2021, most trusted

Saxo bank - best for research, trusted global brand

CMC markets - best web platform, most currency pairs

Interactive brokers - great for professionals and institutions

City index - excellent all-round offering

XTB - best customer service, great trading platform

FOREX.Com - great all-round offering

Etoro - best copy trading platform

Best forex brokers UK comparison

Compare UK authorised forex and cfds brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's forexbrokers.Com trust score.

Forex broker	accepts GB residents	authorised or regulated by the FCA	average spread EUR/USD - standard	minimum initial deposit	trust score	overall	visit site
IG	yes	yes	0.745	£250.00	99	5 stars	visit site
saxo bank	yes	yes	0.800	$10,000.00	99	5 stars	visit site
CMC markets	yes	yes	0.740	$0.00	99	5 stars	visit site
interactive brokers	yes	yes	N/A	$0	94	4.5 stars	visit site
city index	yes	yes	1.100	£50.00	93	4.5 stars	visit site
XTB	yes	yes	0.860	$0.00	92	4.5 stars	visit site
FOREX.Com	yes	yes	1.400	$100.00	93	4.5 stars	visit site
etoro	yes	yes	1.00	$200	91	4 stars	visit site
swissquote	yes	yes	N/A	$1000.00	99	4 stars	N/A
FXCM	yes	yes	1.400	£300	92	4 stars	visit site
avatrade	yes	0.910	$100.00	93	4 stars	visit site
FP markets	yes	1.140	$100 AUD	81	4 stars	visit site
plus500	yes	yes	0.600	€100	98	4 stars	visit site
pepperstone	yes	yes	1.160	$200.00	90	4 stars	visit site
IC markets	yes	0.800	$200	83	4 stars	visit site
tickmill	yes	yes	0.530	$100.00	81	4 stars	visit site
fxpro	yes	yes	1.510	$100.00	89	4 stars	visit site
vantage FX	yes	yes	1.350	$200	79	3.5 stars	N/A
moneta markets	yes	yes	1.300	$200.00	79	3.5 stars	N/A
HYCM	yes	yes	2.00	$100	84	3.5 stars	visit site
eightcap	yes	$100	69	3.5 stars	N/A
VT markets	yes	1.30	$200	79	3.5 stars	N/A
blackbull markets	yes	0.76	$200	70	3.5 stars	N/A
octafx	yes	1.100	$5	59	3.5 stars	N/A
hotforex	yes	yes	1.20	$50	83	4 stars	N/A
easymarkets	yes	0.900	$100.00	81	3.5 stars	N/A

How to verfiy FCA authorisation

To identify if a forex broker is licensed to operate in the united kingdom (UK), the first step is to identify the register number from the disclosure text at the bottom of the broker's UK homepage. For example, here's the key disclosure text from IG's website,

Both IG markets ltd (register number 195355) and IG index ltd (register number 114059) are authorised and regulated by the financial conduct authority."

Next, look up the firm on the FCA website to validate the register number is, in fact, legitimate. Here is the official FCA page for IG markets limited.

Summary

To recap, here are the best UK online forex brokers.

More forex guides

Methodology

For our 2021 forex broker review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex risk disclaimer

"there is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." learn more.

About the author: steven hatzakis steven hatzakis is the global director of research for forexbrokers.Com. Steven previously served as an editor for finance magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading cfds, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how cfds, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The forexbrokers.Com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this website (www.Forexbrokers.Com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with forexbrokers.Com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses forexbrokers.Com or any of its reviews, products, or services. Forexbrokers.Com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

IG - 76% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

OANDA - cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.

Plus500uk ltd is authorised and regulated by the financial conduct authority (FRN 509909).

Advertiser disclosure: forexbrokers.Com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.G. Exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.

Disclaimer: it is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While forexbrokers.Com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by forexbrokers.Com, nor shall it bias our reviews, analysis, and opinions. Please see our general disclaimers for more information.

Top 5 FCA regulated forex trader brokers in 2021

The financial conduct authority (FCA) is a regulated body that governs the financial markets and firms in the UK. This was earlier known as the financial services authority (FSA).

Its main function is to regulate the firms bestowing financial services. It is a non-governmental agency that provides licenses for brokerage firms in the UK. An FCA regulated firm is important to select. An FCA regulated forex broker can help clients succeed in forex trading.

These brokers provide demo accounts for users to trade. This gives a better understanding of the working of a financial service firm. They allow users to use virtual money for such accounts. So, after knowing about the firm, one can invest their own money into trading.

Pepperstone

Pepperstone is a subsidiary group owned by pepperstone group limited. This is an australian company that was founded in the year 2010. Within a short span, pepperstone has grown into a leading forex trading broker. It came into the UK during the year 2016. Since then, it is offering financial services with local access for the clients. The other places where pepperstone takes stand-in services include melbourne, london, dallas, and bangkok.

The best part about choosing pepperstone is that it is a multiplied and regulated broker service. Pepperstone group limited is a well-established company that offers a varied range of trading platforms. They also have a demo account that is available for trial. After 30 days of use, you can start trading. It is an organization with strong global expansion in australia, african regions, MENA, asia, and european competitive trading conditions. This is an exclusive service for forex trading and CFD. The customer service is available during the working hours in every country.

Plus 500

Plus 500 is in the forex trader brokerage service for over a decade. They have strived all these years to provide the best services from around the world. This is a financial service firm that is popular in the UK, cyprus, and australia. There are over three hundred thousand customers from around the world because of their streamlined trading services. They are well-known for speed, security, and usability. It is also a user-friendly platform that provides access across multiple devices or operating systems. Their chart indicators are strong. The organization aims to offer stop-loss orders throughout. Apart from being excellent forex trader brokers, they also have over 2000 products for CFD.

A major drawback with plus 500 is that there is no customer support through the phone. Along with that, they also lack in giving trader education to the clients. However, their regulation is extremely strong as it is from different countries.

FXCM is a company that was started in the year 1999, and it is based in the UK. They have branches in countries like australia, south africa, and france. Their expertise is in forex trading, CFD, cryptocurrency, and treasury bonds. The various choices in trading platforms keep them popular. Moreover, they offer free trading tools to clients, making way for a flexible environment. This makes FXCM reliable and affordable. They also have a low minimum deposit amount that keeps trading safe for the clients. This is a regulated forex trader broker firm too. However, they do not accept clients from the US as the license to US regulatory is lost. Their product portfolio is not up to the mark too. One good advantage of FXCM is that they have understandable and educational content.

Octafx

Octafx is the subsidiary of octa markets. This was founded in the year 2011. It is an award-winning financial service firm. They have a wide-ranging trade account for both beginner and advanced level traders. It has also grown drastically in a short period. Today they operate trade with over 2 million clients from around the world. Their expertise is offering opportunities to retail traders in more than 100 countries. This deals with currencies, cryptocurrencies, stocks, precious metals, commodities, etc.

The limited withdrawal option makes it difficult for the clients. However, it provides bonus promotions and access to copy trading, which is an advantage. Clients can make use of the various research tools that are available too. The main focus is given for forex trading while commodity markets are limited. The leverage provided for forex trading is 1:500, which is a plus point. Trading options are available on desktop, mobile, MT4, MT5, web, and ctrader. Clients don’t face any issues regarding payments as it processes very quickly. Moreover, they provide customer services in several languages 24/7. Octafx is also popular among people for its social and charitable works.

Exness

Exness is a group that provides commission-free trading since 2008. It is also licensed by the FCA and many other financial authorities from around the world. There are over 100,000 active traders under this group. They offer 24/7 customer support in two languages. This is english and chinese. The forex trading pairs from the exness group are highly commendable. Clients can use the demo accounts for trading beforehand. They also provide islamic swap-free accounts. The trading accounts can be in raw spread, pro, and zero. The leverage for MT4 is 1:2000, and unlimited leverage is provided for MT5. All standard accounts are available without any commissions. This is a reliable and good option for forex traders.

The drawback in exness is that they do not have an offshore regulation. Also, not all stocks from the US will be available. There are plenty of advantages that keep the fifty million trading accounts active. They deal with trades in forex, CFD, indices, stocks, metals, energies, and cryptocurrency.

Conclusion

FCA helps maintain the integrity in forex trading. It basically provides safety to the traders. And FCA regulated forex brokers can easily be trusted, unlike other forex brokers. If you are new to forex trading, it is the safest way to get started through FCA regulated brokers.

Best forex brokers for 2021

Finding the best forex brokers can seem like a difficult task but, luckily, we’ve done the hard work for you. Our experts have reviewed hundreds of different forex brokers, using their own money and our precise testing process. They checked their fees, licenses, product offerings, and trading platforms so that you don’t have to. Only 5 met our high standards and could be considered top forex brokers. You’ll find them all on this page.

Best forex brokers for 2021

Our winners

Summary of best forex brokers for january 2021

Top forex brokers – our expert picks

In 2021, we tried and tested over 150 of the best forex brokers using our unique and accurate methodology. To do this, we opened live accounts, deposited funds, and considered over 200 criteria points. We looked for brokers that provided a wide range of trading opportunities, competitive spreads, top-tier licensing materials, and industry-leading trading platforms. You can register with those who offered excellence in all these departments, our best forex brokers, by simply clicking on the logos below. Sounds too easy right? That’s because it is – we want to save you both time and money.

To learn more about each of our best forex brokers, and to analyze them side by side, visit our comparison page.

Why trade with the best forex brokers?

The best forex brokers give you access to one of the largest and most appealing markets in the world. It’s no surprise that you want to get involved. Having a broker that you can trust also allows you to take advantage of the many benefits of forex trading, including:

The forex market is open 24 hours a day, five days of the week. This means that you can always trade at a time that’s convenient for you.

With a daily trading volume of over $5 trillion, forex is the most liquid market in the world. This allows for transactions to be completed quickly and easily, which keeps your trading fees down. Such high liquidity levels also give you more opportunities to trade – you can speculate on small price movements frequently.

The popularity and size of the forex market make it incredibly volatile. Whilst this may sound scary, it simply means that there’s plenty of chances to profit as, with the best forex brokers, you can go both long and short.

Forex is traded with leverage, which enables you to open much larger positions than you may be able to in other markets. Essentially, with a top forex broker you can make your money go further in a safe and controlled way.

With forex, you can trade both the world’s most important currencies and those from emerging countries too. Not only does this allow you to choose markets that are interesting to you, but it also allows you to diversify your portfolio and hedge your trades. If one currency is suffering, you can simply trade a different one.

How we choose our best forex brokers

Choosing the right forex brokers for our readers is a responsibility we don’t take lightly. To accomplish this task most effectively, we have devised a methodology that analyzes over 200 different criteria. We update this process often too, to ensure that we’re taking new forex products, markets and features into consideration. Some of the most important things we look at are:

Safety and regulation – to be considered one of our best forex brokers, the firm must be licensed and regulated by a top tier authority. It must also provide you with a range of safety features such as investor compensation, negative balance protection and SSL encryption. Simply put, if a broker isn’t reputable, it won’t make it to this page.

Competitive spreads – to make sure you’re getting the most for your money, we dissect each broker’s trading fees. For forex, most fees are charged via spreads. We compare and contrast the minimum spreads for the EUR/USD currency pair. This is a popular choice for most traders and it’s also a good indicator of whether the broker’s other fees will be fair.

Industry leading trading platforms – all of our top forex brokers offer intuitive and efficient trading platforms. This may be award-winning third-party software, such as MT4 or MT5, or a proprietary platform that offers all the tools you need to succeed.

Wide range of currency pairs – as one of the biggest benefits of trading forex is that it allows you to diversify your portfolio, all of our recommended forex brokers offer major, minor and exotic currency pairs.

Beneficial trading conditions – to find the best forex brokers for you, we take a deep-dive into execution policies and terms and conditions. We look for high maximum order sizes, ultra-fast execution speeds, and fractional pip pricing as this reduces the risk of you receiving requotes. Essentially, we read the small print so that you don’t have to.

Efficient payment methods – we understand that you want to deposit and withdraw from your forex account in a way that’s both familiar and quick. For a broker to make it to this page, therefore, it must offer a diverse range of payment methods. This includes bank transfers, e-wallets and localized solutions. Your convenience is something we take into consideration every step of the way.

Quick and easy account opening – last but certainly not least, our best forex brokers all offer a straightforward sign-up process. They won’t make you jump through hoops and will help you to meet regulatory requirements, such as KYC checks, as easily as possible. They’ll also offer excellent customer support in case you get stuck.

Your safety is our priority

Your safety is of the utmost importance to us which is why our methodology focuses heavily on regulation and licensing. Unlike other sites, our tested reviewing process guarantees that only forex brokers with licenses from top-tier authorities are recommended by our experts.

In addition to checking that all our best forex brokers are well-regulated, we also scrutinize their reputation, history and security protocols. Thanks to the high number of points we award in this area, only forex brokers who are committed to protecting your data and money make it to this page.

Which is the best online forex broker for beginners?

If you’re new to forex trading, you’ll need a broker with specific features. Don’t worry though, as we’ve got you covered. When it comes to choosing our best forex brokers, we consider the needs of traders of all skill levels. As such, all of our recommendations offer beneficial conditions for beginner traders.

The best forex brokers for beginners offer account types with low minimum deposit requirements. A low entry point makes it easy for you to start trading without having to put too much money on the line. They also have low spread fees, no matter how much you want to trade, and a transparent pricing structure.

To make sure your trading career gets off to a great start, we also look for top forex brokers that provide you with excellent learning tools. This includes educational materials, daily analysis articles, copy trading opportunities, and trading signals. We know it can be daunting to start forex trading, but rest assured you’re in safe hands.

How to start forex trading

Before selecting your perfect forex broker, it is important to understand what exactly forex trading is and what brokers allow you to do.

Put simply, forex brokers allow you to buy or sell currencies at one price and then sell/buy them at a later point. Ideally, this set of transactions should yield a profit. The best forex brokers for day trading allow you to perform this set of transactions within a short time frame. At times, you may only hold your positions for a matter of minutes.

To start forex trading, you’ll need an account and a good forex broker. Whilst we’ve provided you with our best forex broker recommendations above, we understand that choosing a firm to work with is entirely subjective.

All of the brokers found on this page offer a high-quality trading experience, but you may be looking for certain features. When you browse our selections, therefore, it’s important to consider which aspects are most important to you. Do you want to take advantage of a wide range of currency pairs or will you be sticking to the majors? How will you fund your account, what size trades do you want to place?

If working out what exactly you want your forex broker to do for you sounds confusing, fear not, as we’re here to help. In the following sections, we’ll explain how different forex broker account types work and what main features the best forex brokers offer. With this knowledge under your belt, you’ll be able to scroll back up and choose the best forex broker for you.

How do forex broker accounts work?

When you register with the best forex brokers, one of the first decisions you will have to make is which account type you want to choose. Usually, brokers tend to offer micro, standard, and premium accounts, although they may use different names.

Micro account – this is the best option for beginner traders as it allows you to place smaller trades (0.01 lot) and usually comes with a low minimum deposit requirement. Sometimes, however, micro accounts carry higher spreads. This is so that the broker can compensate for your lower trading volume. If you are considering opening a micro account, it’s a good idea to look for a forex broker that also has a competitive standard account. This way, you can upgrade once you’re more comfortable with trading.

Standard account – A standard account is what most traders will opt for. All top forex brokers offer this type of account and it comes with several benefits; an accessible minimum deposit requirement, good spreads, and optimal leverage. With a standard account, you’ll also usually have access to all of the broker’s best features, be it trading platforms, tools, or signals.

Premium account – this is a top-tier account which is usually reserved for those who deposit and trade large amounts. In the past, premium accounts used to come with the best spreads, but recently the best forex brokers have been closing the gap between standard and premium. Nowadays, the most obvious difference between the two is that the premium account will come with added tools, professional trading platforms, and dedicated account managers. If you want to make sure you’re always the broker’s top priority, this is the account for you.

Besides live accounts, the best forex brokers also feature islamic and demo accounts on their platforms. Islamic accounts, as their name suggests, are designed for muslim traders. These accounts are sharia-compliant, as they come with no overnight interest fees.

Demo accounts are perfect for everyone, as they give you a chance to try out the best forex brokers for free. You can also continue using them once you’ve registered to test new strategies.

What forex trading fees will I pay?

There are two main types of charges that a broker will impose; trading fees and non-trading fees.

Spreads – this is the difference between the bid and the ask price, and they are listed in pips. Spreads may be fixed, meaning the fee stays the same at all times, or variable, which means they change depending on market conditions.
Commissions – these fees are usually compulsory if the broker has waived spreads and are charged per lot traded. Like spreads, they may be fixed to a certain price per lot or expressed as a percentage. If you choose a commission-based account, it’s also important to check whether the fee is charged per side or per round turn. Per side means you will pay when you buy and sell, whilst per round turn means you will pay the one fee each time you trade.
Overnight swaps – this is an interest fee that is charged if you hold your positions overnight. It is calculated for both long and short positions and you can usually find the fee listed within the trading platform.

Deposit fees – some brokers will charge you for funding your account. In general, these are brokers you want to avoid. All of our best forex brokers remove depositing fees as we see them as unfair; if you are choosing to spend your money with a company, you shouldn’t be worse off for doing so.
Withdrawal fees – these fees are incurred when you go to withdraw your profits. They may be charged if you choose to take out a small amount of money or if you use a specific payment method. Withdrawal fees should be nominal; they should only cover what the broker is expected to pay to the payment provider.
Inactivity fees – most brokers will unfortunately charge you if you don’t trade frequently enough. The best forex brokers will give you a generous period of time before you start incurring these fees, most likely between 6 and 12 months. To avoid these fees, you simply need to place a trade before your account is considered to be inactive. Alternatively, you can withdraw your complete account balance if you know that you won’t be trading before the period begins.

The main features of the best forex brokers

Whilst we always look for the brokers with the most advantageous trading conditions, it’s important that you know exactly what to expect at the best forex brokers. Below we’ve provided you with definitions of the most important broker features and explanations of how a broker can excel in each department.

Trading platforms – A trading platform is the software that facilitates trading with the broker. It should be user-friendly, efficient, and customizable. The best trading platforms also allow you to place various order types and arm you with a plethora of charting and drawing tools. A broker may offer a proprietary platform or support third-party software such as metatrader and ctrader.

Research tools – the best forex brokers will make it easy for you to make informed trades. To do this they will offer a range of research and analysis tools. This could include fundamental and technical indicators, sentiment charts, economic calendars, market news, and expert advice.

Educational materials – in addition to providing you with the apparatus you need to trade, a forex broker should also help you to hone your skills. Many top forex brokers offer educational content such as video guides, e-books, and term glossaries. They may also provide live webinars and training courses.

Mobile apps – due to the fast-paced nature of the forex market, being able to trade at all times is vital. Forex broker apps must be fully functional. They should allow you to fund your account, manage your trades, open new positions, and contact customer support.

Learn more about our methodology

We created brokersonline because we were fed up of finding sites that directed traders to ‘the best forex brokers’ without explaining how they came up with their recommendations. When you’re putting your money on the line, someone else’s opinion isn’t good enough. You want clear and honest information and we want to provide it.

Every forex broker recommendation that you find on our website has been created using accurate data and unbiased information. When we find a new broker, we always assess it using our tested methodology. This ensures that every broker we endorse has met the same high standards.

Of course, talk is cheap. In order to prove that we’ve got your best interests at heart, we have to share this process with you.

How the testing process works

Throughout this page, we’ve explained what exactly we look for in our best forex brokers, and why these features are beneficial to you. How does this translate into actionable data that we can use to rank brokers? We’re glad you asked.

Each broker we inspect is judged on the same criteria points in 10 key areas. There are over 200 criteria points that a forex broker must meet to be considered the best of the best. This standardized approach also guarantees that our rankings are fair.

Our 10 key areas are as follows; licensing and regulation, reputation, fees, trading platforms, product offerings, mobile compatibility, security, payment methods, training tools, and customer support.

How does our methodology protect you?

A broker can gain a certain amount of points in each of our 10 key areas, yet these points are not weighted equally. Certain areas are more important than others and our methodology reflects that; having a cool design is not as important as offering a secure platform, obviously.

The points a broker obtains for licensing, regulation, and reputation are worth twice as much. Paired with the points available for security features, this ensures that only trustworthy forex brokers will pass our tests. If a broker fails to excel in any of these areas, it won’t be able to gain a score that puts it amongst our top brokers and so it won’t be recommended to you.

Advertising disclosure

Brokersonline was created to give expert recommendations to prospective forex traders. We believe that forex trading should be accessible, easy to understand, and fair. That’s why our advice is objective, data-driven, and unrestricted.

So that we can keep providing you with free content, our partners compensate us. Whilst this may influence which products we review and feature, our partners cannot pay to change our opinions, ratings, or advice. All of this is grounded in research and facts, so our partners are never guaranteed a favorable review. Moreover, our reviewers do not have access to our advertising data or campaign planning.

Frequently asked questions (faqs)

How do I find the best forex broker?

To find the best forex broker for you, you first need to look for a trusted brand with a good reputation. Luckily, all of the recommendations on this page have been tested by our experts and offer strong licenses and excellent trading experiences.
Next, you need to figure out what else you need and want the broker to provide. If you are a beginner forex trader, you may want a broker with a low minimum deposit requirement. As an experienced trader, you may be looking for high-end platforms. Our top picks cater to a variety of skill levels, so you use our list to find one that suits you with ease.

How can I make money trading forex?

If you want to make money trading forex, there’s a few preliminary tools you’ll need in your arsenal; a good forex broker with good trading fees, a strong trading plan, and a knowledge of the markets and trader psychology. The first step is the easiest. Simply compare broker fees and features to find the best forex broker for you.
Creating a successful trading plan and acquiring knowledge is a little more difficult, yet many good forex brokerages also offer educational materials and risk management tools.

What is the minimum deposit for forex?

The minimum deposit amount you’ll need to start trading forex will vary from online broker to broker. Some discount forex brokers may eliminate this requirement, yet others may impose higher limits depending on your account type. In general, a minimum deposit limit of 100 USD is reasonable for top forex brokers. This gives you the capital to make small trades and to weather losses without wiping out your account.

What is the best forex broker for beginners?

The best forex brokers for beginners are those that are accessible, user-friendly, and committed to helping you to become a better trader.
For a broker to be accessible to beginner traders, it should offer reasonable minimum deposit requirements, accounts that allow you to trade micro lots, and competitive spreads. To be user-friendly, the broker must offer an intuitive trading platform, have a great customer service team and have a transparent pricing structure. Finally, by providing educational materials or the ability to copy professional traders, you can rest assured you’re trading with a beginner-oriented forex broker.

Are forex brokers reliable and safe?

Yes, there are many top forex brokers that are both reliable and safe. These brokers will have top-tier licenses issued by respected authorities, complex money protection mechanisms, and very realistic trading terms and conditions. That said, there are also a large number of rogue and scam forex brokers. To make sure that you always trade with a legit broker, choose one of our recommendations. These brokers have been verified by our experts, who examine their licenses, reputation and safety features. An unsafe broker can’t pass our testing process, it’s as simple as that.

So, let's see, what we have: these are the main six questions to ask your forex broker in order to distinguish a reliable forex broker from a fraud forex broker. At best forex brokers 2021