Forex broker listing

In addition to its constant check on the service providing, authorities protecting clients throughout compensation schemes and other security checks, however, these conditions may vary from the regulator to another.

My list of forex bonuses

Forex broker listing, forex broker listing.

And now we will check the most crucial question if forex broker can be regulated, since the market is decentralized, and is it safe to trade forex? Obviously, this is the biggest trump you may fall as a retail trader if you choose a non-reliable, mainly non-regulated or offshore firm without a proper license you may easily fall into a scam and lose money.

Brokers

Regulated forex brokers

When viewing the forex broker or a trading platform, it is the paramount priority to choose from the hundreds the most reliable one and the best forex provider, as it will determine the whole trading experience. Indeed, doing research and compare the vast number of forex brokers with many aspects to consider, maybe not an easy choice, as well time-consuming. So here we are ready to assist your selection and answer the most common questions.

Can I trade forex without a broker?

This may be the first question you would ask, as indeed forex market, FX or currency market is the largest global non-centralized exchange where trading process performed electronically via networks. While main forex participants are international banks and financial institutions operating huge volumes through a need to exchange currencies, presented as currency pairs, and assist international business with the conversion which is known as the interbank market.

Therefore, in order to trade fx you should be authorized dealer to do so, as well as operate a quite sufficient amount so before forex brokers were introduced to retail traders and global community it was not possible for trade markets. For this reason, forex trading brokers are the companies or agent if you like that gives retail forex traders access through its platform to operate forex market and trade various markets including commodity futures, indices, bonds, etc.

Do I need license to trade forex?

So this is another pleasant and great opportunity which is given by forex brokers, as you may access trading without financial or dealer license. Moreover, there are hundreds of opportunities with a relatively small investment which allows you to trade forex, do technical analysis and analyze markets almost instantly.

Are forex brokers regulated?

So due to increasing demand and mainly that traders got no easy access to trading or financial education, the world countries established particular organizations or authorities in order to oversee the market proposals and regulate forex broker firms. So yes, forex brokers are regulated while holding a license from a local authority alike world known FCA in the UK, ASIC in australia, commodity futures trading commission CFTC in the USA, MAS in singapore and more.

What does a regulated broker mean?

The whole concept of regulation is to oversee forex business in a particular country or region, protect clients and ensure safe conditions while trading forex. So in simple words, regulated broker means a safe and legit broker that is compliant to various rules and criteria set by the international authority with the purpose to provide secure trading and good customer service. So its trading environment and provided services like technical analysis, education and tools are also aligned to the best practices.

How do I know if my forex broker is regulated?

In order to check if broker is regulated or not, you should verify this information through the official brokers’ website first, as regulated companies always provide its licenses. And the next step is to verify a license through the official regulatory website. However, in our forex broker review you will find all the necessary information and license check as well.

It is a fact, unscrupulous brokers may easily fake information and assure you of its license while its not true, so always verify information through the official source. As well, adhere to trade with brokers regulated in serious jurisdictions, not the offshore once, as they luck of strong regulation, requirements and necessary safety measures. Read more by the link why avoid brokers from st vincent & the grenadines.

How to choose best forex broker?

Security of funds is always first in forex trading, for that reason, we recall your attention to open an account with regulated brokers only. Making it simple, regulated broker means that you will trade forex with proper security of funds and investment itself, so first of all good broker is a sharply regulated broker.

Further on, you should also check the necessary conditions and select offer suitable for you and trading strategy you deploy.

For this reason, we assist your selection and provide an assortment of efficient regulated brokers with updated on a weekly basis in-depth forex broker list. A professional detailed analysis with trading fees account overview, platform breakdowns while sorted by regulation, country or trading conditions, along with traders comments so smarter decision is easier now.

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	N/A
city index	yes	yes	1.100	£50.00	93	4.5 stars	N/A
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	N/A
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	N/A
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.

Best regulated forex brokers for 2021

Below you will find a list of forex brokers highly regulated by different commissions and agencies. On one hand, strict regulatory authority ensures that company is legit and client’s funds are safe and securely protected. On other hand, certain credible regulators burden market participants with many trading restrictions. For example, due to the heavy CFTC interference, forex brokers in the USA offer very low leverage, don’t allow hedging and apply the FIFO rule. Trading forex became quite a challenge for many US citizens since these limitations came into force. Meanwhile, regulators in offshore countries don’t tend to take such radical measures.

The forex market is a regulated market in many parts of the world. This means that there are independent agencies that oversee the conduct of business in the forex market, as well as keep an eye on the providers of the products traded in this market. Some regulatory agencies are established by acts of government and are therefore empowered by law to carry out their functions. There are other regulatory agencies that are established from within the industry participants and act as self-regulating agencies. However, the majority of regulatory agencies found in the forex market are put in place by governments. Examples of countries where government-established regulatory agencies oversee the forex market are the united states, united kingdom, EU member states, australia, singapore, new zealand, switzerland, russia, etc.

Licensing categories for regulated forex brokers

Regulated forex brokers are issued licenses, which authorize them to market and distribute forex trading products to their various prospects and clients. Regulated forex jurisdictions fall into 5 categories. The regulated forex brokers that are showcased on this page fall into levels A to C. This is what each level of forex regulation stands for.

A) level A forex jurisdictions

Level A forex jurisdictions are considered to have the most stringent regulatory requirements for the forex market. Regulators considered to be in this category are the commodities and futures trading commission (CFTC) and the japanese financial services authority (JFSA). These two bodies regulate the US and japanese forex markets respectively. One factor common to both regulatory jurisdictions is that the regulated forex brokerages that operate in the two countries are prohibited from marketing and selling forex products to citizens of other countries. They also operate under a highly protectionist regulatory regime, where foreign brokers are prohibited from seeking licensing or offering forex brokerage services to clients in these countries. The regulated forex brokers in this category are also mandated to place leverage caps on their forex products as defined by the regulators. Reporting requirements are very strict and any form of infringements of the rules can attract very strong penalties/fines. Regulated forex brokerages in this category of licensing are also required to have a lot of free capital: usually in excess of $20million.

In addition to the individual forex brokerages being regulated, those who work in such brokerages (e.G. The dealers) are required to be certified holders of specific industry professional qualifications. Attempting to work in the industry without the requisite qualifications can bring on very unwanted consequences. In singapore, such people can expect to spend some time in prison! Forex.Com and oanda are examples of regulated forex brokerages that operate under level A licensing. You can see more about what these brokerages offer by checking out their features on our list below.

B) level B forex jurisdictions

Regulated forex brokerages that operate under level B licensing protocols include those that operate in the UK and australia. These two jurisdictions are overseen by the financial conduct authority (FCA) and australian securities and investment commission (ASIC). Generally speaking, reporting and capital requirements are not as stringent as in the level A jurisdiction, but are tighter than in other locations that fall into levels C, D and E. Liquidity requirements are about $1m if the broker will act as a full market maker, and about $100,000 if the broker transfers fulfillment risk to prime brokerages (i.E. Act as an ECN brokerage). It is mandatory for the forex brokerage operating under the FCA or ASIC to have a physical office domiciled in the respective countries. Usually, many brokers will offer both models of brokerage, and we also have brokers that have offices in both countries. Examples of regulated forex brokerages that operate under level B conditions include fxopen, fxpro UK, IC markets, FXCM UK and city index.

C) level C forex jurisdictions

This category features regulated forex brokerages found in cyprus, new zealand and malta, where regulation is done by the cyprus securities and exchange commission (cysec), financial markets authority (FMA) and malta financial services commission (MFSA) respectively. There is an even lower level of reporting than is required for level A and level B forex jurisdictions. Any penalties imposed on the regulated forex brokers are also much lighter. The environment here for regulated forex brokers is a lot freer and is not as suffocating as is the case with the level A jurisdiction. Regulated forex brokers you will find here include HYCM, FXTM, and other brokers in individual EU countries such as FINMA (switzerland) and bafin (germany). While those who work in the industry are encouraged to attain some qualifications (e.G. Cysec basic and advanced level certifications in cyprus), the kind of harsh penalties you see in singapore or the US for non-compliance do not usually apply here.

The other jurisdictions (level D and level E) are where you will have the offshore forex brokers. That will be discussed in another article.

Hallmarks of forex market regulation

Regulation of the forex market is meant to bring about protection of the consumers of forex products. However, there is always a question of balancing consumer protection with overall interest and growth of the markets. So while there is a general consensus that some level of regulation is good, there are dissenting opinions over how much regulation constitutes just enough regulation, or too much regulation.

The list of regulated forex brokerages presented below will show forex brokers that are scattered across the three regulatory levels described above. From what has been described, there are advantages and disadvantages to being regulated in certain areas. On one hand, application of regulation protects consumers by ensuring that only legitimate entities operate as forex brokers. On the other hand, there is also the worry that too much regulation will only serve to stifle the market. But even this supposed demerit is not an absolute demerit.

A good instance of this is seen in the level A forex licensing jurisdictions. Regulation of the US market was tightened in 2010 by the passage of the dodd-frank act, which imposed all sorts of limitations on forex brokers as to how much leverage they could offer, how much free capital they needed to have, etc. Prohibition of hedging and the FIFO rule were also added to the mix. This has resulted in a contraction of the US forex market, which by all available data has lost a significant portion of its market share to other locations. The number of forex brokers in that country has dwindled from more than 40 brokerages in 2010, to just 3 as at the time of writing in 2020. This is a clear instance of a market where regulation is actually killing the market and not helping it. In contrast, the forex market in japan is actually thriving, with volumes soaring year-on-year, even though the conditions under which brokers operate there are almost similar to what is obtainable in the US.

But as you head to the level B and level C jurisdictions, regulators of the forex markets have been able to find the right balance between consumer protection, and ensuring that the market continues to have the opportunity to expand.

Things may yet change in the US, as president donald trump has indicated that he intends to relax some of the suffocating regulations that plague the US markets. So we may see an expansion of the number of regulated forex brokerages on our list in no distant time.

Forex brokers to avoid

If you trade forex, you need to make sure that your brokers are legitimate and above board – and that you can trust them to help you out. While most forex brokers are decent and honest, not all are. It pays to be able to defend yourself against less scrupulous brokers. Avoiding broker fraud ought to be a priority for people who trade foreign exchange pairs, then – and that’s where we can help. Below is a list of brokers who we have deemed to not be trustworthy for a variety of reasons. And if you are concerned about a particular broker, contact us with details to alert us with the potential broker fraud going on. From there, we can go ahead and research and review the broker in question and help prevent other users from falling victim to any dodgy practices. And we’ll use this information to keep the list as updated as possible – so check back here for all the latest updates when you can.

Investigated brokers

The sad reality of the foreign exchange trading world is that there are people who are out to make a fraudulent buck from innocent traders trying to build their portfolios. Whether it’s insider trading or some other manipulation of the international markets, trading fraud can take many guises – and it can even have links to the wider stock markets as well. As a result, it’s wise to keep yourself fully informed about what the brokers you are considering are up to – and make decisions to avoid those who don’t offer the level of safety and security you require.

Below is an up to date list of the brokers which we strongly advise traders to choose to avoid. There are plenty of other brokers out there who are trustworthy – and with these traders below exhibiting behaviours like copying websites of others, receiving warnings from regulators and more, it’s well worth avoiding them as you choose your own preferred provider.

Various global institutions have criticised the range of brokers included on this list. Whether it’s the australian securities and investments commission or the regulators of nations such as cyprus, there are organisations on here which have faced the wrath of some of the world’s leading oversight bodies. But, we’ve gone even further and responded to intelligence from our users in order to bring you an up to date list of brokers which, in our opinion, ought to be avoided. (see the full list at the bottom of this page).

Latest added forex brokers to avoid

OT capital. They have gotten a warning from ASIC.

EU capital. They ask you to deposit over and over again. They even try to get you to log in to your bank account over a shared screen.

Multiplymarket is a clone of trading technologies.

Bluetrading has an FCA warning for claiming to be FCA regulated when they, in fact, are not.

Facebook group investment/profits, FBO trading signals & bitcoin investments – they don’t allow withdrawals and block you as soon as you ask for a withdrawal.

ECN capital. They claim to be cysec regulated but are not.

GBCFX – unregulated broker having issues handling withdrawals.

Forex365options – they make you pay fees that aren’t even in any terms and conditions. Website hardly works either.

Toptrades.Co – not regulated so should be avoided.

Fx-premium. They are copying the website of JFD brokers so should be avoided!

Most trusted forex brokers

But despite the fact that there are clearly some untrustworthy web brokers out there in the forex world, it’s also the case that some brokers are more worthy of your trust. Many legitimate forex brokers have taken steps to gain the trust of their users, whether that’s by implementing rules against money laundering or simply by segregating client funds away from the operational funds of the broker’s business.

It’s not always possible to identify the legitimate foreign exchange brokers from first glance – but that’s where we can help. The list below is based on reviews which assess everything from the apps offered by particular forex brokers to the reputations they have among users for fairness.

To see a full list of our trusted foreign exchange brokers, why not check out this table?

Forex brokers list 2021 – find the top forex brokers

Forex brokers list is the most vital record you will go through while choosing a suitable broker. Forex brokers play the role of the middleman between the liquidity provider & the traders. So, you should choose a trustworthy broker. The top forex brokers list enlists a bunch of reliable brokers. Choosing one from the list will be a wise choice for the transaction. Visit top 10 forex brokers to get the top brokerage list.

Why would you need to trade with best forex brokers?

We have done extensive research to prepare the list. We have gone through individual broker’s profile, trading strategies, forex trading platforms they offer, experience, trader’s satisfaction track record, etc. We have spent our time preparing the list to save your time on brokerage research. We have presented the profile and strategies of the top-notch brokers in a nutshell. Spare a couple of minutes & go through the forex brokers list. We hope you will find a reliable broker to trade from the list.

In the forex market, you exchange money with money. The forex market is even larger than the credit market. The currency values fluctuated throughout the day. As a result, one needs to trade wisely to make a profit. An expert hand will easily be a great help for the inexperienced one in this regard.

The trader needs to understand how the forex market works. A forex broker will guide you to trade in the market. Best forex broker is the best mentor for a novice in this market. You will find the best brokerages on the forex brokers list. All brokers provide sufficient learning materials to learn trading the forex. No way a trader should consider the reliability of the broker. It is always best to choose one from the top forex brokers list.

Forex brokers reviews 2021

100% bonus

Hassle-free access to foreign currency:

If you don’t take a brokerage’s help, you need to be present physically in a currency exchange house. Then you need to wait all day long to receive a good trade opportunity. It will cost you time. The forex market so volatile; you need to make decisions quickly to profit from the trade. A dormant fact about currency exchange is, they charge more than the brokers. So, it is wise to trade with a broker from the top forex brokers list.

Access to a demo account:

The brokerages on the forex broker list would offer to use a demo account on using their website. A demo account would allow you to experience & practice trade without investing real money. Brokers of the top forex brokers list would teach the best forex strategies through the demo account. Using this account, you learn how to trade forex in the market, where & when you should invest money to make maximum profit. If you lose, then it would be your learning to deal with real money. Isn’t it an outstanding opportunity for the beginner to learn forex through hand-on experience?

Saves your time:

Learning forex trade is a long-time procedure. The study says, most entrepreneurs participate in forex trading as a side business. So, learning and then implanting the trading strategies is too much time consuming for most traders. There are chances one may get stuck in the midway of the trade. That’s why to trade with the help of an experienced hand is wise than running the trade solo. And to make this choice, we have already prepared the forex broker list to save your time while choosing.

It is essential to keep the update of the changing currency rate. The forex brokers on the top forex brokers list keep this update of the market on your behalf and run the trade at a suitable time to make maximum profit.

Use of technology:

Brokerages you find on the forex broker list use versatile technology to run the trade. They use the technologies to keep pace with the changing market. They use intelligent tools to analyze the market & can identify risk on a transaction. The brokers on the top forex brokers list keep track of the previous and current records. They interpret these data to predict the future market. The best broker would give you precise analysis and would suggest your best trading strategies. So, hire a top-notch broker to maximize profit on minimizing loss.

Many forex brokers offer an opening bonus on signing up an account on their website. They usually offer these bonuses to encourage traders to trade with them. But there are imposters too! You need to be very conscious about whom you deal with. We suggest you to choose a broker from our forex broker list to get an authentic broker.

Checklist before choosing the forex broker

You will find thousands of forex provider’s names once you search on the web. The success in trading largely depends on the forex broker’s trading strategy. Choosing the right and loyal broker from the forex broker list will lead you to succeed in trading.

You will invest your hard-earned money in the forex market. So proper research before trading with a forex broker is a must. There are some features to check while choosing the broker. Consider the following factors before you hire the broker.

Checklist before Choosing the Forex Broker

Regulatory agency of the broker:

The regulatory agency is the best yardstick to differentiate the authenticate brokerage from a fraud one. The regulatory agency supervises the activities of the forex broker. They keep a close eye on the brokerages and ensure discipline in trade. An authentic broker would always receive a trading license from the concerned regulatory agency of its region. Here we present the name of regulatory bodies from around the world.

United states of america: national futures association (NFA), commodity futures trading commission (CFTC)

United kingdom: financial conduct authority (FCA), prudential regulation authority (PRA)

British virgin islands: BVI financial services commission (FSC of BVI)

Canada: investment information regulatory organization of canada (IIROC)

Australia: australian securities and investment commission (ASIC)

Germany: bundesanstalt für finanzdienstleistungsaufsicht (bafin)

France: autorité des marchés financiers (AMF)

Switzerland: swiss federal banking commission (SFBC)

South africa: financial services conduct authority (FSCA)

Mauritius: financial services commission of mauritius (FSC mauritius)

UAE (dubai): dubai financial services authority

Cyprus: cyprus securities and exchange commission (cysec)

Brokers form the top forex brokers list are under the supervision of the regulators. So, trading with them is always safe.

Privacy of the trader

You genuinely expect your data to be safe with the broker. When you open an account on a broker’s website from the forex broker list, you need to give information like credit card detail, bank account information, passport information & utility bill, etc. The broker you will choose must ensure your information privacy. Clarify if you have any doubts about their data preservation strategy before you trade with them.

Product range

In the forex market, you don’t only exchange currency. You can trade in precious metals(gold), commodities (oil), stock indices, cryptocurrency, bonds through the brokerage as well. The best broker will provide an extensive range of products to trade in the market. The broad range of products increases the ground to earn profit & advance in the market as well.

Trading platform

The trader would get access to the forex market through the trading platform. The brokers on the top forex brokers list offer multiple forex trading platforms (tool). Some brokers provide the proprietary platform; their unique features make them different from others. Before choosing the broker from the forex broker list, make sure your broker would offer you the platform with

User-friendly news feed

Varieties of charting tools

Educational & learning materials

Multiple trading ways (web trading, social and mobile trading, etc.)

Personalize trading screen

Trading cost

The transaction charge is the broker’s way of making money. The trader will pay the transaction cost, commission, or payment asked by the forex broker. Spread and commission are the two standard fee style. An honest broker will inform you about their charge before the trade. There should be no hidden charge.

The trader would like to go for a broker with a low charge. But it is not always possible to get the best forex broker at a low cost. You should then sacrifice your budget to get better service. Do your intensive research on how the broker’s charge before you trade with one from the forex broker list.

While choosing the broker from the forex broker list, you need to decide by keeping a balance among service, security, learning materials, tools & transaction cost. The broker on top forex brokers list offers fantastic deals and services to their clients. Trading with them will help you to earn maximum profit. You would learn different strategies too, which will help you to make your mark in the forex market in the long run.

Recommended top 10 forex brokers rating and reviews

Narrowing down the number of forex brokers to just the top 10 forex brokers in the world is complicated. However, we have made a list of the top 10 forex brokers and as with the previous lists; it took vast amounts of forex education.

Many of the experts who provide most of the forex education on our site made the top 10 forex brokers in the world list. They included in this process, many important things you should know.

Read on to find out how we know that this list contains only the best of the best.

1. Forex ratings

This is something we do mathematically. Calculating points is not an easy feat. We base it on so many things. Among them, one is forex education. To understand what it’s like to come up with a rating system, you first need to know what’s important.

When picking the top 10 forex brokers in the world, there is a criterion. The criterion helps us categorize features, services, and versatility.

Here is a list of some of the most important things we consider:

Regulation authorities

How old is the company?

Offices and branches

Commissions and spreads

Analytical services, reviews, and forecasts

Customer reviews

News about the company

ECN and PAMM accounts availability

Forex competitions

Education for free

Number of payment systems available

Automated withdrawals

Website performance

After doing the ratings, it becomes very easy to pick the names on our top 10 forex brokers in the world. As you can see, it is exhaustive. We examine all the angles we know you care about as the customer.

2. Customer reviews

This is a big part of something that we call ‘ social proof ’ in the world of digital marketing. The word of someone who has used service is worth more than an advert. We read through reviews left by customers to compile an acceptable top 10 forex brokers in the world list.

Reviews make up some points we use in the rating system. However, on their own, they represent accuracy. You want to know that the people telling you an FX broker is good to have the first-hand experience.

Reviews help with:

Providing a cautionary step before you take any action

Giving you social proof

Assuring you of credibility

Confirming the reliability of a company

We read as many of them as possible to form a clear picture of a company.

3. Reputation

The reputation of a company can help you know about it even before you meet anyone from there. Some of these companies are on the top 10 forex brokers in the world list because of reputation.

Several trusted financial authorities, experts in the forex market and customers speak well about them.

Most of these top 10 forex brokers get their name out there by doing things that include offering free forex education on their websites. We look out for where they get mentioned, why and the impression we get from that.

Read on to find out which ones will be the best for you.

4. Regulation authorities

When it comes to forex brokers, we always want to know that they are regulated. When they are not, it becomes a problem because this lack of regulations opens up doors for fraudulent operations.

Before you sign up with a broker, always make sure that they are appropriately regulated. When you check the bottom of the website for any broker, you will find a license number, if they are genuine.

If you do not see it, ask them for it or avoid them because that is a red flag that they may not be who they say they are.

If they have the number, just copy it and check for their name on the website of the regulator that they claim oversees them. If you do not find it, you should know that they are lying. Some of the most well-known regulators in the world are:

ASIC – australian securities and investments commission

Bafin – the bundesanstalt für finanzdienstleistungsaufsicht (germany)

CFTC – commodities and futures trading commission (united states)

Cysec – cyprus securities and exchange commission

FCA – financial conduct authority (united kingdom)

FFMS – federal financial markets service

FINMA – swiss financial market supervisory authority

FMA – financial market authority (austria)

FSA – financial services agency

FSB – financial services board (south africa)

Financial services commission – BVI

Financial services commission (FSC) – mauritius

IFSC – international financial services commission

FSP NZ – new zealand financial service provider

ISA – israel securities authority

MFSA – malta financial services authority

SEBI – securities and exchange board of india

VFSC – vanuatu financial services commission

UAE – abu dhabi central bank

With these, you can never go wrong. If the broker is not certified by them, they do not qualify for our list of the top 10 forex brokers in the world. The more the regulation, the better. However, it is not the only metric that makes the companies qualify.

5. Commissions and spreads

The opportunity for a broker to take advantage of you comes in when they do not come clean about the charges. When we look at the commissions and spreads, we want to see them at the industry standard or even lower than usual.

To be clear, we do not pick the top 10 forex brokers in the world because of unusually low fees. The trading fees need only to be reasonably low and not too low. When the deal starts to look too good, always be careful because that is a sign of a scam broker trying to get you.

In picking the top 10, we look at the brokers with the lowest spreads among the points that we look at. When they allow you to make profits reasonably, we add them to our shortlist as we check the other things.

Sometimes, the brokers might advertise a low spread and not have it. In most markets, the aim for most traders is to look for the lowest spreads because they allow you to trade cheaply. So, we make sure to look at the validity of the claims before picking them for this list.

The trader wants to have a profitable strategy that will allow them to lower the transaction costs, as much as possible. Since the spread is the difference between the bid and asks prices, standard accounts will try to charge as much as they can without oppressing the trader too much.

6. News about the company

Knowing as much about a company as possible, require that we look through their past to make sure that they are not hiding something that could be potentially damaging to the clients that they serve. The top 10 forex brokers in the world are the ones with a good track record.

Any company that is worth making it to the list would be in the news in one form or another. We also check what the people who signed up for it say. This helps us have a clear picture of what a company is all about so we can give you accurate information when we compile the top 10 forex brokers list.

7. Education

Most of the top forex brokers in the world know that education for their customers is an essential thing. So, it is not uncommon to find that they provide it. Even the most professional traders know the value of information and will check information before they make a decision.

Having all the information you need for any of the things you need to do in the market is handy. Education forms the backbone of all traders who make it in the market.

8. ECN and PAMM accounts availability

Many of you do not know where to look when trying to find the best ECN brokers online. In our list of the top 10 forex brokers in the world, we have listed some of them who have ECN accounts. With these accounts, you get direct access to liquidity providers.

PAMM accounts are a little trickier. With them, you make use of other traders who are more competent than yourself. They trade on your behalf, for a percentage of the profits. To be on the safe side, you should not go independent when it comes to this.

We have listed the best companies that offer access to this service, it allows you to make money without having to do all that work or take risks as a novice who may not be able to thrive in a competitive market.

To wrap up

The process of picking the top 10 forex brokers in the world is not an easy one, but we had fun doing it because it allowed us to know more about an industry that is one of the biggest in the world. As a trader, you will be safe when you go with any of these choices.

To make sure that no one has to fall prey to scams, we also prepared lists for those who want to know how to avoid scams, lists of true ECN accounts and other reviews that will complement this one to create a fuller picture that will make sure you are adequately prepared when you step out into the world of forex as a trader.

Best regulated forex brokers for 2021

Licensing categories for regulated forex brokers

A) level A forex jurisdictions

B) level B forex jurisdictions

C) level C forex jurisdictions

The other jurisdictions (level D and level E) are where you will have the offshore forex brokers. That will be discussed in another article.

Hallmarks of forex market regulation

ECN forex brokers

ECN or electronic communication network is a technology bridge built with the purpose to links retail forex market participants or traders to liquidity providers. So eventually ECN is a non dealing desk bridge with straight-through processing execution that enables execution in a direct connection between the parties. Read more about ECN through wikipedia.

What is ECN broker?

So ECN brokers automatically match requested trading orders to sell or buy at the best available price from available market participants (learn about NASDAQ market participants), while at some time EUR USD spread maybe even 0 pip.

Apart from the competitive trading costs and due to its functions ECN technology also results in extended trading time too, along with high efficiency for automated trading and a variety of strategies suitable for both retail or institutional traders. Besides, ECN execution cannot cause any misunderstanding between the trader and the broker as its interbank connectivity brings transparent trading conditions.

What is ECN fee?

The trading brokers offering ECN account and connection usually offer an interbank spread from 0.0 pips and do charge a fixed commission per lot as a trading cost or fee.

ECN vs standard account

Unlike forex market maker brokers offering standard account that typically charge fixed spread for forex trading added above the quotes you can see via trading terminal, the ECN working with commission fee model. It means, typically there is no commission charge for standard accounts, but a spread only basis while ECN costs split between the interbank spread from 0 pip and commission charge per lot.

Depending on the strategy you deploy ECN spreads from 0 pips does not necessarily mean lower trading costs, as for particular strategies fixed or variable spread as a trading fee is a much better option. ECN brokers and technology indeed more suitable for experienced traders, professionals or those that operate bigger sizes. While the standard account and market maker execution model might be a good option for beginning traders, for some strategies and regular size traders.

Best ECN forex broker

Firstly, the best ECN broker is a heavily regulated broker, as it is a trustable one in which you would not worry about necessary compliance and safety measures towards your money. The only way to trade with a true ECN broker is to select among the broker with the confirmed regulatory status along with its strong legit obligations. Learn about different type of brokers through SEC website.

Like the regulated brokers you will find in the listing below offers some of the best ECN trading conditions along with applicable standards of operation, transparent conditions and privacy policy.

GO markets– best overall ECN broker 2020

FP markets – lowest spread ECN broker 2020

Exness – best MT4 ECN broker 2020

XM – best ECN broker for beginners 2020

Pepperstone– best for scalping and EA ECN 2020

ECN forex brokers list

These are the regulated brokers that offer ECN trading:

Fxdailyreport.Com

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 500:1 regulation: FCA UK, ASIC australia, MAS singapore	visit broker

How to choose trusted forex brokers 2021

If you are planning to diversify into forex trading or start trading currencies for the first time, one of the first things you have to do is identify a trusted forex broker to partner with. This is a very important task as it can have serious consequences. Starting from the forex trading platform offered by brokers to the minimum deposit required to start trading, a myriad of aspects need to be evaluated. The aim of this post is to provide you with some information as to how you can identify trusted forex brokers that are capable of catering to your specific needs.

There are two common ways of choosing a forex broker:

This method involves reading broker reviews and choosing a forex broker based on star rating and feedback. In this case, there are no guarantees. A 5-star rated broker may be the best option for you, but it is not possible to ascertain whether the reviews you read are actually genuine or not. Therefore, this method is not acceptable.

This method involves doing your own research. Reading reviews should only be a part of the research process. The professional way of choosing trusted forex brokers is explained in step-by-step format for your convenience:

Step #1: know exactly what you want to achieve through forex trading

It makes things much easier if you write down a list of features that you want in the forex broker you would like to work with. You can achieve this by writing down answers for the following questions:

What currency pairs would you want to trade in?

What type of spreads would you be comfortable with? (fixed, variable and how many pips)

Are you ready to pay a commission when trading forex?

How much money can you invest in forex trading? (this gives you an idea of your account size and facilities available)

What level of leverage are you looking at?

What are the tools and indicators required for you to trade forex?

Do you need any specific trading platform? (for example, MT4)

Are you a scalper?

Do you want to hedge?

Will you need a trailing stop?

Are you looking at “one-click-trading” execution feature?

Would you be trading on-the-go and/or do you need trading alerts?

What type of broker do you want to work with? (ECN/STP or dealing desk)

What options do you want for transferring funds to your trading account? (wire transfer, paypal, credit card, etc.)

How much are ready to pay for funds transfer and withdrawing money from your account?

This is not an exhaustive list. You can add your own questions and then begin the research.

Step #2: visit the brokers’ websites

Scan the network and visit the websites of brokers who have been shortlisted based on the answers to the questions listed in the previous section. Read their forex trading policies and rules, understand their terms and conditions and try to get a feel of their business transparency by checking the availability of contact addresses, telephone numbers, customer support services and information about the regulatory authority that supervises their operation.

If the broker’s website does not list a physical address, either on the contact page or elsewhere so that it is clearly visible to visitors, it should raise a red flag in your head. If the address is not available, availability of telephone numbers, live chat facility, skype and email do not count at all. Websites of trusted forex brokers will have a physical address listed out.

The overall appearance of brokers’ websites also gives some indications about their owners. The websites don’t have to be flashy, but they should have a professional touch and links and pages and links should be functional. Trusted forex brokers who are collecting money from clients and providing platforms for currency trading always ensure that their websites are fully functional in all respects.

The next important aspect you should look for is regulation. It is always better to open a trading account with a regulated broker. A regulated broker would register the organization with appropriate authorities and operate under their regulatory supervision. The major regulatory authorities around the world are as follows:

United states: NFA, CFTC

United kingdom: FCA, UK

Canada: BCSC, OSC, CIPF

Japan: FFAJ, FSA japan

Australia: ASIC

Switzerland: SFDF, FINMA, ARIF

Denmark: danish FSA

Sweden: swedish FSA

Spain: CNMV

Hong kong: SFC

Dubai: DMCC, DFSA, DGCX, ESCA

This is definitely not a comprehensive list; most countries have forex regulatory bodies in order to supervise forex brokers’ activities.

Step #3: read reviews of selected trusted forex brokers

Reading reviews of forex brokers is definitely helpful, but it can be confusing, sometimes even overwhelming. It is, therefore, important that you stick to the following rules when reading reviews:

A) if the broker has been operating for more than 10 years, you can be sure that the company knows the business and cares for its clients. Otherwise, the company would have been closed down.

B) if the broker is regulated (by the regulatory body of the country in which they operate), you know that the company is serious about its business and is making necessary efforts to comply with the rules and requirements stipulated by the supervising body.

C) if the broker offers several trading products (forex, futures, stocks, commodities, cfds, options, etc.), you can be sure that the broker is running a large business, shouldering more responsibilities and is catering to a large client base.

D) when reading reviews, make sure that there are no mentions about profit cancellations or withdrawal denials. If there are, it should raise a red flag in your mind. One or two stray mentions can be neglected, but you must take a serious view if there are many such reviews.

E) finally, you should only read reviews written by professionals.

Step #5: additional tips on how to choose trusted forex brokers

Your approach to identifying a trusted forex broker should be similar to one you use to choose a bank and entrust your money. The factors to be considered are reputation, transparency, ease of depositing and withdrawing funds and customer support service offered.

Finally, never agree to the terms and conditions without reading and clarifying with the customer service representatives. This is because many forex brokers often forget to update their websites with changed trading conditions.

Why you must trade with regulated forex brokers

The foreign exchange market, also known as forex is the largest and one of the most liquid capital markets in the globe with trillions of dollars exchanges daily. In the past couple of years, FX trading gained significant popularity mainly due to its ease of access and the many opportunities it offers.

If you have plans to join the interesting world of forex trading, you have a long way to go and a lot to learn until you succeed but information, knowledge, and logic thinking will surely get you there. One of the first and most important steps towards a successful journey of currency trading is choosing a reliable and trustworthy broker. This is not an easy task considering there are hundreds of brokers out there with each one of them claiming to be genuine. There are many factors to consider when choosing a forex broker, but the most important of them is regulation. In this article, we are going to discuss the benefits of working with a regulated forex broker. But before we go there, let’s find out what forex regulation is.

What is forex regulation

In a market so lucrative and liquid, it’s crucial to have solid regulatory oversight to curb malpractice and fraud.

Since there is no centralized body that oversees the forex trading market, many countries now have independent and government bodies that have been tasked to supervise currency trading in their jurisdictions. These supervisory agencies regulate foreign exchange market by setting standards which all financial investment firms and forex brokers operating under their jurisdiction must comply with. These standards ensure that all parties involved in forex or CFD trading are subjected to fair and ethical financial practices.

Regulatory bodies also issue license to brokers that meet certain criteria to give them the right to offer services in a certain jurisdiction. The broker will have to abide by all the rules and regulations otherwise their license may be revoked.

Benefits of working with A regulated broker

Now that you know what forex regulation is, the next question is, how do you benefit from working with a regulated forex broker as a trader?

When forex brokers are supervised by a regulatory body, retail traders investors can be sure about the credibility of the brokerage firm. The biggest risk of working with an unlicensed forex broker is losing your hard-earned money when the broker engages in ponzi schemes or fraudulent activities.

Some of the most common fraudulent activities in the forex industry include excessive commissions, very wide spreads, restrictions on withdrawals and hidden terms and conditions.

Regulatory authorities have created a platform wherein such case cases of fraud in FX trading can be dealt with effectively.

Regulatory bodies have been mandated by the law to deal with any broker engaging in illegal practices by following the stipulated legal channels. They can sanction, restrict, or ban the broker from ever conducting business by permanently revoking their license.

The only problem here is the fact that the regulators can only deal with cases in their jurisdictions. Even so, there has been a noticeable reduction of forex trading scams.

What will you do as a trader is your broker goes bankrupt or disappears with your hard-earned money? It can painful to lose money in forex trader but if you find yourself in such a scenario, there may be some hope for you, if the broker in question is regulated. Depending on your case, you can be compensated for your lost funds as most regulated brokers have some form of insurance for their clients. For example, for a broker to be regulated and licensed by cysec, they have to sign up for the investor compensation fund ( ICF). If, for some reason, your cysec regulated broker canceled your profits, went bankrupt or engaged in actions that led to the loss of your funds, you may be eligible for compensation by ICF. To claim your compensation, you are required to visit their website and fill an online form or send a letter attaching all necessary documents to their offices. The maximum amount you can get as compensation is €20,000.

Regulatory bodies require their brokers to have segregated accounts for their clients to ensures that your funds as a trader doesn’t go in the same account as your forex broker’s capital. This way, the broker will always be able to attend to your withdrawal requests without any issues.

4. Protection from free money and other tricks

Most unregulated forex brokers will often come up with tricks to lure unsuspecting potential clients. They do so by promising extremely attractive bonuses which you can’t actually withdraw and may even prevent you from withdrawing your profits. Regulatory bodies also prevent brokers from using dangerously high leverage options, extreme wide spreads, and enticing marketing schemes.

How to identify A regulated broker

You now know the benefits of working with regulated brokers, but how do you determine whether a broker is licensed or not? How do you know when a broker is lying they are licensed and regulated? Here are two ways to determine whether a forex broker is licensed;

Regulatory bodies require the forex brokers regulated by them to list their list details regarding their regulation on their websites. This includes their license number and the name of the regulatory authority. This information can be found in the about us section or at the bottom of each webpage on their website.

2. Google the license number

Once you have the broker’s license number and the name of the regulatory body, the next thing is to verify if they are true by googling the name of the body. Most regulatory bodies have a website with a tool to search license numbers of the brokers they are regulating. This allows you to verify if the license number is genuine and valid or fake.

Forex trading is a very risky business to venture into. But if you partner with a regulated broker who has your best interests at heart, you can turn it into a lucrative venture.

So, let's see, what we have: read our regulated forex brokers reviews with trading conditions, user's reviews and rating. Choose your broker from our regulated forex broker list. At forex broker listing