8 Best Forex Brokers and FX Trading Platforms

Please ensure you fully understand the risks and seek independent advice. This website is free for you to use but we may receive a commission from the companies we feature on this site. Blueberry Markets is another highly regarded forex brokers and offers trading in FX and CFDs with super low cost, through MT4 and MT5. Which forex broker is “Best” is difficult to say because all traders are different.

This excellent broker, regulated by Tier-1 Australia’s ASIC, provides its clients with cutting-edge trading platforms, extremely low latency connectivity, and superior liquidity. IC Markets is revolutionizing the online forex trading sector, as investors are now able to gain access to pricing and liquidity previously only available to investment banks and professional traders. OctaFX is a Forex and CFD trading platform with a focus on low, competitively priced spreads. CTrader offers the lowest costs but does require a bit more experience. Novice traders are best starting off at OctaFX using MetaTrader 4, which supports micro-accounts.

Pepperstone also offers an Active Trader Program that comes with large rebates for customers that make large trades. However, the rebates kick in when you start trading 100 lots or more, so this feature mostly appeals to seasoned traders. While Pepperstone’s investment offerings might not be so impressive, their low spreads certainly are. The spreads that you’ll be dealing with primarily depend on the type of account you open.

Traders must ensure that their preferred broker will offer the assets they wish to trade. A cutting-edge trading platform, not just the out-of-the-box MT4/MT5 trading platforms, is another aspect to demand. High-quality trading tools demonstrate the willingness of the broker to invest in its trading environment. Finally, traders should evaluate the execution statistics of a broker, if available.

Regulated by several well-known authorities like the Financial Conduct Authority, XTB is known for the level of safety it provides. Skilling is our “Best Overall Broker” for 2022 due to a wide selection of instruments, four trading platforms, low fees & spreads, security, and excellent customer support. This website includes information about cryptocurrencies, contracts for differences and other financial instruments, and brokers, exchanges, and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. Choosing the right forex trading platform is important, especially for beginners. Though there’s not a single best forex broker that will suit everyone equally, you can choose the best forex broker that’s right for you if you know what to look for.

CMC Markets is credited with the first-ever online forex trade back in 1996 using the platform’s proprietary MarketMaker software. This platform has gotten numerous accolades from Investopedia, Nerdwallet, Barron’s, and Stockbroker.com. From a regulation perspective, the company is both authorized and regulated by the Financial Conduct Authority for offering CFDs. With CopyTrader, you can directly copy expert traders’ strategies, trades, and portfolios.

These guys are the real deal, it doesn’t get any better in the world of CFD and forex trading. You’ll need to close all your positions, withdraw your funds, open an account with a different broker, and deposit the funds into your account. After that’s all gone through you’ll be able to start trading again. The broker will keep a record of your trades over time, and you will be able to access this through the dashboard of your account.

But what I would like to know is sort of the nitty-gritty of forex pairs where the rare opportunities lie. You could be the most skilled trader in the world, and transaction costs could still put a dent in your wallet and slight your potential. Every time you engage in a transaction, a broker will likely take a commission. A broker’s transparency about their fees and commissions says a lot. The best way to confirm whether a forex broker is regulated is to check the About Us section on the brokerage firm’s website.

Regardless, XTB’s asset selection accounts for the vast majority of potentially profitable trades you could make. However, their selection is limited to stocks; ETFs, and cryptocurrencies. If you’re looking to buy, sell, or trade bonds, CFDs, and options, you’ll have to find another brokerage to invest with. Because they list 100% commission-free stocks and ETFs, you’ll get to keep every penny of the profits you earn. Additionally, Public.com lists a $0 account minimum, so you won’t have to deposit anything if you decide this platform isn’t the right fit. Much like Acorn and Robinhood, Public.com lets retail investors purchase fractional stock shares for as little as $1.