If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here. What do you value most in a forex broker? Maybe you want to trade forex on the go. You might be looking for the most cost-effective forex brokers. Or maybe you are a beginner forex trader who is just getting started. With a wide range of forex brokers comes a wide variety of features and specialties.

IG offers the most tradeable CFDs in the industry, 19, CFDs, or "contracts for difference," enable traders to speculate whether the price of a stock, forex pair, market index, or commodity will go up or down without taking ownership of the underlying asset.

Alongside nearly 10, CFDs, CMC Markets offers the most tradeable currency pairs, with pairs that can be quoted both ways i. As a highly-trusted and regulated global brand, Interactive Brokers IBKR provides everything professional traders might need, from advanced trading tools and platform features to competitive pricing across a wide variety of markets, as well as connectivity to over global exchanges.

In addition to competitive spreads and low commission-based pricing for forex, Interactive Brokers provides more third-party research than any other broker. Interactive Brokers continues to innovate its platform offering, such as with its new Impact app for environmental, social, and governance ESG investing, alongside the related Impact dashboard available in its Trader Workstation TWS desktop and WebTrader platforms.

Professional client status : In today's highly regulated forex world, traders who want to maximize their margin leverage must apply and obtain ESMA's professional client status with their broker. Traders designated as Professionals in the EU do not receive negative balance protection and other consumer safety mechanisms such as eligibility for compensation schemes in the event of a broker's insolvency.

To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs. Trading platforms were then tested for the quality and availability of advanced trading tools frequently used by professionals. Here are three of the most important factors to keep in mind when choosing an online broker for forex trading.

Not sure how to go about choosing a forex broker? Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features. Our Compare Tool is fed by data gathered by our expert researchers for our forex broker reviews , so you can feel confident you have the most up-to-date information at your fingertips.

To see an intuitive, comprehensive list of highly regarded regulatory agencies, check out our Trust Score page. Also, be sure to check out our in-depth reviews of forex brokers — we detail the regulatory status of each individual forex broker across the international forex landscape.

Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking. Was this helpful? Yes or No. At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score.

We test all available trading platforms for each broker — whether they are proprietary or come from third-party providers — and evaluate them based on a host of data-driven variables. All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than. For a full explanation and accounting of our research and testing process, please click here to learn more about how we test. 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. Read more on forex trading risks.

Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.

A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time. He heads research for all U.

com and is respected by executives as the leading expert covering the online broker industry. John Bringans is the Senior Editor of ForexBrokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money.

Home Forex Guides Directory. November 15, Best overall broker, most trusted Minimum Initial Deposit £ Pros Outstanding platforms and tools Over 19, tradeable instruments Competitive pricing Cons No predefined layouts on the flagship web platform Limited product range on MT4.

Pros Flagship platform is top of the line Over 40, tradeable instruments Excellent customer service Cons High minimum deposit. Pros Low trading costs Excellent web and mobile platforms Robust research materials Cons Educational offering could be improved MT4 offering limited to 62 symbols.

Pros Robust platform for professional traders Wide range of global markets Thorough research offering Cons Trader Workstation platform is likely too complicated for inexperienced traders.

Best desktop platform, U. Pros Outstanding platform in thinkorswim Thorough research offerings Excellent educational materials Cons Does not offer copy trading Forex pricing is slightly higher than industry average. Pros Multiple high-quality platforms Excellent market research Wide range of markets Cons Only about instruments are available on the MT5 platform, compared to over 4, on non-MetaTrader platforms.

Pros xStation 5 platform is an industry standout Robust selection of trading tools Excellent customer service Cons Pricing is just average. Excellent all-round offering Minimum Initial Deposit £ Pros Excellent platforms and mobile app Extensive range of markets High-quality market research Cons Pricing is average for the industry Limited product range on MT4. Pros Large number of investors to copy Extensive range of markets to trade User-friendly platforms and app Cons No automated trading strategies Stops, limits mandatory on trades Research trails competitors.

security Find a trustworthy broker: ForexBroker. percent Pro tip: For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value. smartphone Mobile forex trading If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here.

biotech Methodology: To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs. Submit Details. Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.

Blain Reinkensmeyer Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time. John Bringans John Bringans is the Senior Editor of ForexBrokers. Joey Shadeck Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. Saxo Bank. CMC Markets. Interactive Brokers.

TD Ameritrade. City Index. com we understand the importance of finding the right forex broker for your trading style and needs. We are committed to helping you do this, by providing accurate, current and unbiased reviews for all the forex brokers we list. From beginner to professional, whatever your place in the trader spectrum, you should always choose a broker which is safe and secure.

Rest assured we only feature fx brokers that are regulated by a trusted, top-tier authority. There is a very large number of online forex brokers, so choosing which one is right for you can be complicated. Here, we will attempt to make this task easier by outlining what aspects and features you should be looking out for.

We will break this down into the following areas:. This aspect is of vital importance as the broker is responsible for your money. Regulation by a top-tier authority guarantees that the broker will hold the highest standards regarding security, transparency and integrity. The broker should hold your funds in segregated accounts. This means that the broker can access your account to fund your trading activity but will not be able to withdraw funds. Funds in segregated accounts are withheld from creditors in the case of bankruptcy.

If the broker operates in more than 1 jurisdiction then they should also be regulated by the relevant authorities in each geographical area. A list of top-tier regulators follows;. It allows you to access the market prices, place entry and exit orders, or enter and exit a trade. The most common platform for retail traders is the MetaTrader MT4, closely followed by the newer version MT5. Other options include cTrader and ProRealTime. All these platforms offer state-of-the-art technical tools and are open source.

If you have the patience to learn or knowledge to write code, you can implement new tools or create automated trading bots. However, many FX brokers offer their version of trading software. These platforms are built in-house and are available to traders that open an account with the broker.

The broker should offer a demo account where you can test their platforms and services before funding an account. Technical analysis is one of the main components of FX trading, whether you're day trading or swing trading.

Whichever platform you are considering must have a full array of technical indicators and drawing tools. You should also be able to trade directly from the chart, manage your stop loss and take profit, as well as manage your margin. Preferably, the platform also has a live news feed and charting features such as the one offered by TradingCentral. A mobile app of the platform should also be available as we live in a day and age where we can manage our lives on the go.

Mobility also applies to FX trading, and the apps should offer all, or the majority, of features available on the desktop or browser versions. Commissions are a necessary cost of trading, which is how brokers generate their income, allowing them to offer you the service. Of course, we want to pay as little as possible, but we still want a quality service. Commissions are usually earned through the bid offer spread. This spread is the difference in pips between the bid and the offer.

Usually, a broker will receive the price from a bank and add a few pips. The extra pips added are the broker's fee. Some brokers do not add extra pips to the prices they receive and instead charge a commission. The broker will reflect this cost in your account. There are basically two business models for FX brokers, but first, let's familiarise with a few phrases related to FX trading with online brokers. NDD — Non-Dealing Desk DMA — Direct Market Access STP — Straight Through Processing ECN — Electronic Communications Network.

In one model brokers can quote the prices you deal on themselves, known as market-making. In the other model they receive prices and pass them on from the interbank market. When they pass the prices on, they are considered NDD. An NDD broker is not taking the other side of the trade. You trade through the broker directly with the counterparty quoting the price, also known as DMA.

When brokers quote the price themselves, they also take the other side of the trade. Bid offer spreads with market makers tend to be fixed, while an NDD broker will vary its spreads according to the prices it receives.

A market maker may also be susceptible to price manipulation, whereas an NDD broker is not aware of your positions, and simply requotes the prices it receives. NDD brokers receive their prices from various institutions through an electronic network, known as an ECN. Thanks to computer technology these networks create a direct link between you, the broker and the market maker.

The whole process from execution to confirmation of the trade is automated and this is referred to as STP. There are two types of accounts, standard and professional. The naming may change from broker to broker, as some brokers offer extra perks for funding a professional account. The marketing drive then dictates the names each account has.

Standard accounts are limited in the amount of leverage they can trade with, and brokers are no longer allowed to pay trading bonuses to their clients. Leverage is limited by the MiFID II regulations, usually a maximum of for some markets. Professional accounts can access much higher leverage, depending on the broker, it can be as high as However, with a professional account, you will not benefit from negative balance protection.

You will also need a higher funding balance, and declare you meet certain requirements to open a professional account. Customer support should include access via online chat, email and telephone.

If the broker is a market maker, you should preferably have access to the dealing desk via telephone. Check which languages are available, some brokers offer a limited number of languages. Of all the brokers reviewed, the best forex broker overall goes to CMC Markets. This broker has a wide selection of FX pairs and other securities you can trade on when it comes to trading CFDs.

Currently they offer 11, different assets across forex pairs, commodities, indices, shares, crypto and bonds. This forex broker offers its services for forex trading with CFDs and spread betting.

The company started out in and has come a long way since then. The broker has offices in all the major financial centres in the world, plus China and Australia. CMC is a publicly traded company quoted on the London Stock Exchange and has won various awards for its services to clients. This in house forex trading platform has been designed with great attention to ease of use. The trading platform also has a Reuters live news feed.

Very handy to stay on top of the latest headline news without the need of another app. The trading platform is available directly through your browser, no need for downloads. It also has a wide array of technical indicators, time frames, chart formats and the capability of producing your exact layouts with charts, news feed and prices all in one place.

CMC Markets has competitive spreads for almost all the major forex pairs. The current bid offer spread for the EUR USD and USD JPY currency pairs is 0. This broker received the award for Best In-House Analysts by Professional Trader Awards It offers a large variety of assets to forex traders and a well designed in-house forex trading platform.

The company can provide online trading and offers MetaTrader platforms as well as mobile trading. In light of all the above, we consider CMC to be at the top of the best forex brokers overall. The top spot for best premium service in forex trading goes to FxPro. This forex broker opened its doors in to start trading forex. And it has already stacked up over 85 awards. Most recently, it received the following accolades:. FxPro offers a variety of trading platforms which include the in-house trading platform FxPro Edge with a full list of trading tools.

Other trading platforms include cTrader and MT4 and MT5 both as a download or as a web trading platform. Trading forex with Fx Pro offers a full premium service with state-of-the-art trading platforms, education, in-house research and low latency pricing. The servers at Fx Pro are situated close to the banks that supply the broker with prices. This means that the lag between sending and receiving prices and trade orders is minimum.

Useful for the automated trader and manual trader alike to reduce slippage to a minimum. Low latency in the transfer of data means traders are less likely to suffer from slippage, especially when markets are moving quickly. FxPro offers a premium service for advanced traders and novices. We feel this is one of the best forex brokers around.

We came to this conclusion based on the quality of their platforms, the high standard of infrastructure which allows for We also considered the high standard of their education and research material along with the fact they have one of the highest award rates in the industry.

FxPro has slightly higher bid offer spreads than the industry average and that may put off some high frequency traders. However, they offer a premium service and the higher commission paid can be justified by the quality of service. For the advanced trader our choice of best forex broker goes to Peperstone. This forex broker started operating in It has since then expanded to thousand clients worldwide. The company has offices in London, Cyprus, Dusseldorf, Dubai and Kenya.

Apart from forex trading you will also be able to trade shares, commodities, indices and ETFs. They also have various types of accounts with different limits on deposits and leverage.

Pepperstone also offers some of the best forex Trading Platforms. They do not offer a proprietary trading platform. However, they have chosen to work with 3 of the best retail trading platforms in the industry. All 3 platforms are offered as online trading apps through a browser or as downloadable software. All three platforms have state-of-the art technical analysis with a multitude of indicators and tools across several time frames and chart types.

In addition, Pepperstone also offers Autochartist, which is an add-on app for MT4 and MT5. The app allows you to set up alerts for technical indicators and to back test their effectiveness based on your criteria. Pepperstone offers a comprehensive service for seasoned traders and novices alike. We particularly like the choice of three top-tier platforms all available for online trading also. They each have their corresponding mobile versions, although with more limited features.

The broker also offers different types of trading accounts to cater to traders requiring higher leverage levels. They also have a complete library of educational materials and in house research. The research focuses mainly on macro factors and technical analysis. And can count on the external contribution of the likes of Boris Schlossberg who appears on outlets such as Reuters or CNBC. IG gets top marks for tightest bid offer spreads in forex trading, although they could also appear at the top of other lists also.

IG is among the best forex brokers in many aspects. They have the tightest bid offer spreads, they started the spread betting industry back in , they have offices in 17 countries worldwide, a wide selection of top-tier trading platforms, and is a highly regulated broker. IG bid offer spreads are the lowest in the industry with EUR USD and AUD USD both at 0. Other major forex pairs that stand out are USD JPY 0. These are the tightest spreads we have found in the market for these major forex pairs.

Other forex pairs are still very competitive, with only USD CHF being above the industry average at 1. IG also has a host of top-tier trading platforms that have a large variety of technical tools, time frames and chart types. They also have a proprietary online trading platform accessible through your browser. For those looking for professional standard sophistication from their trading platforms they also offer ProRealTime.

All platforms on offer also have their mobile equivalent with access to live prices, charts, technical analysis and risk management while you are on the go. IG also does a very good job when it comes to educating traders. They organise webinars for beginners, intermediate, and advanced traders.

In research they have a good offering between live news feeds to live TV. The live news feed appears directly on their platform from the likes of Reuters and Bloomberg. They also have live TV shows covering the latest headline news and economic data events. This broker takes top spot for the lowest bid offer spreads; however, it has a lot to offer besides the tightest spreads in the market.

We see they have an excellent choice of state-of-the-art trading platforms, choice of assets, and good news coverage and research. Not many forex brokers are involved in copy trading. However, the service is becoming more popular as traders and investors look to hand over the tough job of trading to other traders. Some copy traders still trade their own accounts but having some of their capital in the hands of other traders can reduce risk through diversification.

So, the top spot for forex brokers in copy trading goes to eToro. This broker was set up with copy trading in mind in It has now grown to cover CFDs in shares as well as forex trading. The broker has a shorter than average list of 47 currency pairs. However, that should not be of too much concern as your main objective will be copying other traders. eToro has its own in-house trading platform specifically designed for copy traders.

There is no choice of other trading platforms as the features offered for copy trading would not be available on a third-party product. Their proprietary trading platform is functional and easy to use with 67 technical indicators and 13 drawing tools.

That may be enough for some traders also trading their own account but may be oversimplified for more sophisticated traders. eToro offers an appealing solution to traders looking to copy trade and for traders looking to make some extra income while sharing their trade ideas. Their trading platform works well for that purpose, although it may be somewhat limited for very active traders. They also lack live news feeds on the platform or research and market sentiment analysis.

While their mobile app is a very watered-down version of the desk-top version. Finally, the bid offer spreads are slightly wider than the industry average but then again, the broker can justify that for the service it offers.

However, if you are looking to copy trade the app allows you to manage a portfolio of traders effectively. The broker was set up for the purpose of copy trading and that is where it gets top marks. com is a newcomer to the world of forex trading.

This online broker opened its doors in However, it has already reached over , clients worldwide. This forex broker has offices in London, Cyprus and Australia. The broker has managed to create web and mobile platforms that are sophisticated and yet straightforward to use at the same time.

And above all there is no penalty when you go from web browser to mobile device. As you will get all the functions available on your PC browser on your smartphone too. In fact, their proprietary platform has over 75 technical indicators and various chart types. Another factor that put Capital. com into the top spot for this category of best forex brokers is their choice of trading platforms. The MT4 platform from MetaTrader is the well-known retail industry standard for traders.

It has a whole host of technical indicators, drawing tools, time frames and chart types. And most importantly for many traders, you can personalise the app or even automate your trading with the appropriate line of code. Quite frankly that system may be getting outdated as new technologies arrive.

But Capital. com also offers TradingView, which is a web based only platform. Then, they also have the possibility to use code, in this case Python, to write your own scripts for technical indicators.

You can also get to back test the performance of technical indicators with their built in Strategy Tester. com took the top spot in this category because we feel they offer a wide selection of platforms. And all the platforms offered are of the highest quality. Their in-house mobile platform was awarded Best Mobile App in the UK by Investment Trends in The broker also has competitive bid offer spreads and live trader support 7 days a week, instead of the usual 5.

They also offer plenty of educational material and research content.

Written by Steven Hatzakis , Blain Reinkensmeyer Edited by John Bringans Fact-checked by Joey Shadeck. The ForexBrokers. com annual forex broker review six years running is the most cited in the industry. With over 50, words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test. Are you looking to speculate that the Euro EUR currency will go up in value against the U.

Dollar USD? The forex market is the largest and most liquid market in the world, representing every global currency with trading conducted 24 hours a day, five days a week. To trade forex, you need a reputable online broker. Trading with a trusted forex broker is a crucial factor for success in international currency markets.

As a contract for difference CFD trader or forex investor, you may have specific needs related to which platform, trading tools, or research requirements you have. Understanding more about your investment style needs can help determine which forex broker will be best for you. Each year, our team here at ForexBrokers. com spends five months testing the biggest names in foreign exchange and assembles a guide to the best forex brokers for forex and CFDs trading.

Here are our findings for CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets. Read full review. Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience — as well as a stunning selection of over 40, securities.

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12, tradeable instruments. Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets.

It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

For traders in the U. com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms — alongside limited access to MetaTrader.

As a trusted multi-asset broker, XTB offers outstanding customer service, a wide variety of forex and CFDs, and an excellent overall trading experience.

Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets. eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors — or receive exclusive perks for sharing their own trading strategies.

For the ForexBrokers. com Annual Review , all online broker participants were assessed on variables across seven primary categories. Here's how we tested. Alongside primary categories, ForexBrokers. com ranks brokers by the most popular investor categories. Finally, each year ForexBrokers. com honors the brokerages who go above and beyond in the areas that matter most to investors. Regulated and trusted across the globe, IG offers traders the ultimate package of excellent trading and research tools, industry-leading education, comprehensive market research, and an extensive list of tradeable products.

This fantastic all-round experience makes IG the best overall broker in CMC Markets is a globally-trusted broker that delivers a terrific offering for traders thanks to notably low pricing, nearly 10, tradeable instruments, and the Next Generation trading platform, which comes packed with quality research and innovative features such as its Dynamic Trading portfolio tool. We've conducted thorough testing of the best trading platforms offered by dozens of the top forex brokers in the industry.

A forex broker is a company that is licensed or considered exempt by a national regulator to grant you — as a retail or professional client — the ability to buy or sell foreign currencies, by way of an online trading platform or over the phone known in the industry as voice broking. A forex broker may offer you the underlying currency, or a non-deliverable spot contract or derivative such as a contract for difference, or CFD, depending on any relevant country-specific regulatory restrictions.

It's important to only use brokers that are properly regulated to reduce your risk of being scammed. Yes, to trade forex you'll need to use a forex broker. You'll need to open an account and deposit enough collateral margin to enable you to place orders with your broker to buy or sell forex. The forex broker's job is to execute your orders — either internally by acting as the principal to your trade market maker execution or by sending your orders to another market, thus acting as your agent agency execution.

Your broker should be regulated and properly licensed in your country of residence or in a major financial center. We evaluate and track dozens international regulatory agencies; click here to learn more about Trust Score. Check out our guide to trading forex for beginners here.

The next step will be deciding on your trading budget. This is especially important given the risks involved in trading forex from a margin account. Forex brokers typically offer a range of contract sizes so you can fine-tune the size of your trade — which will determine how much risk you are taking for a given profit target.

In this case, your potential risk will be limited — but so will your potential rewards. For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value.

IG takes first place in our Annual Review as the best forex broker, with available currency pairs and the ability to trade CFDs and forex options, traders have plenty of choices. IG is the only broker that is regulated in both Switzerland and the U. expand What does it mean to be the biggest forex broker? What can be considered the largest forex broker may vary depending on the time period used to measure size. Important factors to consider when gauging the size of a forex broker are the assets under management, number of clients, and market capitalization valuation for public companies.

Here are the top 10 brokers by forex and CFD trading volume according to data compiled by Finance Magnates during the third quarter of data excludes Japan due to the abnormally high trading volumes known to come from Japanese brokers :.

CMC Market's Next Generation platform comes with a massive selection of nearly 10, tradeable instruments. It delivers a terrific user experience, as well as advanced tools, comprehensive market research, and an excellent mobile app. Hands down, the CMC Markets Next Generation trading platform is a market leader that will impress even the pickiest of traders. The new Dynamic Trading tool allows you to place multiple trades simultaneously, which was a nice innovation by CMC Markets this year.

If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here. What do you value most in a forex broker? Maybe you want to trade forex on the go. You might be looking for the most cost-effective forex brokers. Or maybe you are a beginner forex trader who is just getting started. With a wide range of forex brokers comes a wide variety of features and specialties. IG offers the most tradeable CFDs in the industry, 19, CFDs, or "contracts for difference," enable traders to speculate whether the price of a stock, forex pair, market index, or commodity will go up or down without taking ownership of the underlying asset.

Alongside nearly 10, CFDs, CMC Markets offers the most tradeable currency pairs, with pairs that can be quoted both ways i. As a highly-trusted and regulated global brand, Interactive Brokers IBKR provides everything professional traders might need, from advanced trading tools and platform features to competitive pricing across a wide variety of markets, as well as connectivity to over global exchanges. In addition to competitive spreads and low commission-based pricing for forex, Interactive Brokers provides more third-party research than any other broker.

Interactive Brokers continues to innovate its platform offering, such as with its new Impact app for environmental, social, and governance ESG investing, alongside the related Impact dashboard available in its Trader Workstation TWS desktop and WebTrader platforms. Professional client status : In today's highly regulated forex world, traders who want to maximize their margin leverage must apply and obtain ESMA's professional client status with their broker.

Traders designated as Professionals in the EU do not receive negative balance protection and other consumer safety mechanisms such as eligibility for compensation schemes in the event of a broker's insolvency. To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs. Trading platforms were then tested for the quality and availability of advanced trading tools frequently used by professionals.

Here are three of the most important factors to keep in mind when choosing an online broker for forex trading. Not sure how to go about choosing a forex broker? Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features. Our Compare Tool is fed by data gathered by our expert researchers for our forex broker reviews , so you can feel confident you have the most up-to-date information at your fingertips.

To see an intuitive, comprehensive list of highly regarded regulatory agencies, check out our Trust Score page. Also, be sure to check out our in-depth reviews of forex brokers — we detail the regulatory status of each individual forex broker across the international forex landscape. Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking.

Was this helpful? Yes or No. At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score.

We test all available trading platforms for each broker — whether they are proprietary or come from third-party providers — and evaluate them based on a host of data-driven variables. All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than. For a full explanation and accounting of our research and testing process, please click here to learn more about how we test.

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.

Visit Forex Factory. Thanks for the list, keep up the good work! It uncovers the nefarious activities of various service providers from which you have to save yourself for surviving in this rude trading world. And above all there is no penalty when you go from web browser to mobile device. A forex broker gives professional and retail traders access to the multi-trillion-dollar forex market. For example, the EUR USD spread is 0.

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