How to Choose the Right Forex Broker for you ? Features to consider when selecting a suitable Forex Broker for yourself.
Regulations, commissions, platforms, account minimums and fees are just some of the factors you should consider when choosing an online Forex and CFD broker. Moreover, the forex Brokers hold your money in an account that changes value nightly in reaction to daily profits and losses, and they handle fees that may include commissions, access to expert advice and withdrawal requests. Some brokers hide their fee schedules within legal jargon buried deep in website fine print, which means potential clients need to do their homework before opening an account.
In nutshell below are the points one should consider while choosing a broker for them:
- Forex Account Types: Types of Accounts-Does any of them suits the personality and need of the trader
- Forex Broker Types: STP/ECN/NDD or others
- Customer Service: Are they providing an excellent uninterrupted customer service
- Broker Regulation: Are they regulated globally or at least respected and accredited within the industry.
- Deposit and Withdrawal Methods: Are the deposits and withdrawal methods easy and quick.
- Forex Bonuses: This is an optional but still may attract new trader
- Margin Call and Leverage: It’s important to know before once start trading on real account with type of account.
- Spread, Cost and Trading Conditions: Many brokers offer traders a choice of fixed or variable spreads and commission fee structures when trading forex. ECN-style trading accounts that charge flat-rate, round turn commission fees allow for ultra-competitive spreads that can be as low as 0.0 pips, while standard accounts offer wider spreads, yet traders face no commission fees.
- Execution Speed and Slippage: Forex markets are volatile, thus choosing a broker with fast execution, and minimal slippage is important for trading strategy success
- Availability of Trading Platforms-Ease of Trading Platform Use: It’s very important on the ease or use of the trading platform, are they easy to use with good and friendly user interface
We are not going that much in details here on each of them as If someone goes only with regulations they are lacking in good trading conditions, spreads, good platforms, technical analysis etc. and if someone is good in some of these they might be lacking in some. So here we included some brokers that we have personally traded and still trading and we are pretty happy with them.
This does not mean they are fulfilling all the criteria’s for an ideal broker. NO. But theoretically going to the ideal broker may not be a real broker which suits your trading personality and the conditions you want to trade always. So we have included only those brokers we have been traded and trading from past few years almost a decade. Still, these are the only Good Brokers but we can only suggest the ones we have traded and trading on and its impossible to test, check all the brokers available on the internet. These are the Brokers who offer good trading conditions with other features and provide Meta-Trader-5 / MT-5 Trading Platform to trade.
Also Read:
- Why we need Forex VPS to Trade? The Best Forex VPS Providers: Click Here
- One of the Best Meta-Trader-4 / MT-4 Brokers to Trade Forex : Click Here
- Forex Brokers Offering Mini, Micro & Cent Accounts to trade Forex: Click Here
- Forex Brokers that accepts clients & traders from the USA (United States of America): Click Here
- Forex Brokers supporting fast Local Deposits & Withdrawals in Local Currencies including India & other Asian and other Countries: Click Here
- What are Binary Options Trading How to trade Binary Options & Best Brokers to trade Binary Options: Click Here
| • In Business Since 2007- Australian Broker | • Regulation: CySEC, FSA & ASIC |
| • Regulated in Cyprus, Australia, Seychelles | • Free Low latency collocated VPS |
| • Trust-Pilot rating 4.8/5 on 13806 reviews | • Raw Spreads From 0.0 pips |
| • Largest trading platform in the world by Forex volume | • cTrader, MT4, MT5, Mobile Trading |
| • Low latency fiber optic and Equinix NY4 server | • Instant Deposit & Fast Withdrawal |
| • Over 29 Billion USD in FX trades processed daily | • Execution speeds under 40ms*** |
| • Diverse and Proprietary liquidity mix keeps spreads tight 24/5 Open a FREE demo account Now to explore | • Customer Support 24X7 multi-lingual support |
| • Forex Market: 61 products | • Indices: 25 products |
| • Commodities: 22 products | • Bonds: 11 products – know more |
| • Stocks: 1659 products | • Digital Currencies: 13 products |
| • Award Winning & Established since 2005 | • Globally Regulated ASIC, CySEC |
| • NDD: No Dealing Desk and No Requotes | • 40+ International Awards |
| • 10,000+ CFD products across Forex, Shares, Indices, Commodities and Cryptocurrencies | • Team of experts in Forex and CFD trading on hand to help you with any queries |
| • Offer one of the World’s largest exchanges | • Deep liquidity & Transparency |
| • Low Commissions and Tight Raw spreads from 0.0 pips | • One of the Fastest Equinix NY4 facility server cluster. |
| • Trade from 0.0 pips on major currency pairs | • 500:1 Leverage |
| • Raw Pricing: Access institutional-grade liquidity | • MT4, MT5, IRESS, Web-Trader, Mobile Apps Trading |
| • Award-Winning Low Latency Fast Trade Execution – Open a Free demo account now | • Direct Market Access Pricing on IRESS Click here to know more |
| • Trade Direct Market Access (DMA) Trading Platform | • Segregated Client Funds |
| • Great for Scalping and Algo/ EA Trading | • Forex: 60+ currency pairs on MT4 |
| • 24X7 Multilingual Customer Support | • Indices 19 major global Indices |
| • Globally reputed and regulated Forex Broker since 2008 – click to know more | • Regulated by Financial Services Authority (FSA) |
| • Regulated by Cyprus Securities and Exchange Commission (CySEC) | • Regulated by Financial Conduct Authority (FCA) |
| • Their fund in segregated accounts is 40 times worth of the money their clients cash so not to worry about losing cash due to xyz reasons. | • Their auditor is Deloitte (the biggest independent accounting firm in the world) so you can rest assured all this data is real. |
| • Support 24/5- 11 languages and 24/7 in English and Chinese – Open a Free Demo Account | • Access to Forex ECN (Electronic Communication Network) |
| • Impressive range of Forex pairs to trade on | • Instant deposit and withdrawal of funds |
| • Commission-free trading available. | • Instant and fast market execution |
| • 107 currency pairs, 81 stocks & indices, 7 cryptocurrencies, 12 metals and energies to Trade | • Multiple Account Types-Cent, Mini, Raw & Zero Spread, Pro and others to suit most of the traders. Get to know more |
| • Low spread from 0 pips | • Platform: MT4, MT5, Web & Mobile Trading |
| • Low margin requirement. | • High Leverage: up-to 1: unlimited |
| • Regulated and HQ in Marshall Islands | • In Forex Business since 2005 |
| • No conflict of interests – Get to know more | • Leverage 1:500 |
| • ECN & Classic Account Type | • Negative Balance Protection |
| • Increased quoting precision | • Leverage: 1:500 – 1:1 |
| • Market execution of orders with no requotes | • Platform: MT4/MT5 |
| • No Stop & Limit levels | • Minimum deposit: $50 |
| • Scalping and news trading allowed | • Islamic accounts: Yes |
| • Unlimited duration of transactions | • Margin Call Level: 100% |
| • Trades are delivered directly to liquidity providers – Open a Free Demo account | • 2.5% per annum benefit |
| • Social Trading platform is available | • Spread: from 0.0 points |
| • Commission 0.5$ per lot1 | • Market Execution |
| • Max. number of orders: Unlimited | • Stop Out Level: 20% |
| • Wide selection of trading instruments | • Seminars and training – Know more |
| • Multiple Award Winning Regulated Forex Broker | • Founded in 2006 with a high Global reputations in this industry |
| • 6 Regulations in 5 continents: MiFID, CBoI, FSA, ASIC, BVI, FFAJ, FSCA, ADMG | • MT4, MT5, Web-Trader, AVA Options & Ava-Trade-GO |
| • 1250+ Instruments: Cryptocurrencies, Stocks, Commodities & Indices Trading | • Automated Services: Robo-X, Mirror Trader, MQL5 Signal, API Trading, Dupli-trade |
| • Fully segregated accounts | • Over 300,000 Happy Traders |
| • MetaTrader4, Social, Copy Trading | • One of the best Educational Content |
| • Support All EA trading | • Hedging & scalping allowed |
| • 24/7 Cryptocurrencies trading | • Multi-lingual Customer Support |
| • Fully segregated accounts-Higher Security | • Fast trade execution speeds Open a free Demo Account to experience |
| • No deposit or withdrawal fees | • Tight spreads |
| • Competitive Spread & Leverage | • No commission |
| • Powerful & flexible trading platforms | • Auto-chartist |
| • Large selection of trading instruments | • Social trading platforms – Get more Info |
| Regulated by the Australian Securities and Investment Commission (226199) and Vanuatu Financial Services Commission (40256). Click here to get more information. | Founded in 2017 a relatively Young company with a solid Background in the Business through its Founders and aims to shake up the market with market-leading low-cost commissions. |
| Products to Trade: Forex, Energy, Precious Metals, Equity Indices, Commodities, Share CFDs, Crypto / Digital Currencies | Trading Platform: MetaTrader-4, Meta-Trader Web-Trader, MT4-Mobile Apps, MetaTrader-5 – Find more |
| The lowest forex trading costs* With spreads from 0.0 and $2.25 commission, offer a commission rate that is on average 36% cheaper* than competitors. | White Glove Support: As a live account holder, you will have your own trading specialist to help you navigate the trading platform and the markets. |
| No Fees on Deposits on funding via Visa, MasterCard, PayPal, Skrill & Neteller. | Free US Share CFD Trading: Charging $0 brokerage on trade for US Share CFDs |
| The broker offers tight spreads without dealing desk execution with a market access 24 X 7 | Ultra-Fast Execution Speed For Forex, CFDs and Cryptocurrencies Trading |
| Account Manager Included For Best Customer Service-Open a Free Demo A/C | No Minimum Deposit To Open Trading Accounts |
| Sever Accounts with Type of Account: Zero Account, Classic Account | Lowest Commission On Markets For ECN Style Accounts |
| Knowledgeable & Friendly customer support: 24X7 | Highly competitive commissions Explore further |
| Maximum Leverage: 1:500 | Trust-Pilot Rating: 4.8 / 5 |
| Meta-Trader 4 Trading Platform Specialists | VPS available for a discount |
| • New broker platform developed and backed by Binary.com a highly reputed Broker | • Founded & Operating in the Business since 1999. Click Here for more info |
| • Regulations: Malta (MFSA), Labuan (LFSA), Vanuatu (VFSC), British Virgin Islands (BFSC) | • More then 1 Million happy Clients / customers Worldwide |
| • Forex, Commodities, Synthetic indices, Cryptocurrencies and Stocks & Indices to Trade | • Type of Accounts: Standard, MT5 (DMT5), Synthetic Indices |
| • Customer support is available 24/7 through Help-Center & Live-Chat | • Trading Platform: D-Trader, D-Bot, Smart-Trader, DMT5 – Get more Info |
| • Convenient deposit and withdrawal methods | • Advanced charting widgets |
| • The commissions start from 0.015 percent. | • High leverage 1: 1000, tight spreads |
| • Kind of Trade Types available : Margin, Options & Multipliers | • Analytical, Responsive & easy-to-use platforms |
| • Stock indices – Speculate on price movements across the largest US, Asian and European stock indices – explore further | • Forex – Close to 50 FX currency pairs, including majors, minors and exotics |
| • Synthetic indices – Based on a secure random generator, synthetic indices replicate real-world market conditions and are available 24/7 delivering consistent volatility | • Commodities – Precious metals, such as gold and silver, plus energies like oil are available |
| • Provide Real-time Updates, Portfolio Details, Research Reports, Global Indices, Personalized Advisory, Interactive Charts, Live Markets, Multi Account Management Services | • Desktop Platform Trading Windows & Mac, Web Browser Trading, Mobile Trading (Android & iOS) – Click Here to Open a FREE demo account to experience the platform |
| • Award Winning Regulated Broker Founded in 2009 Click Here to know more | • International broker with presence in 150 countries |
| • Regulations: CySEC, IFSC | • Received numerous international awards |
| • Non-Dealing Desk (NDD) system with STP for rapid order execution. | • Large Client base of over 16 000 000 traders |
| • Easy trading options for both beginners & experts | • Leverage 1:30 (EU), 1:3000 (Global) |
| • Account Options: Standard, Cents, Micro, Zero Spread & ECN | • Great Forex Education & Training resources |
| • Customer support: 24/7 through live chat and call-back – Open a FREE demo account | • Account Type: ECN, STP, No Dealing Desk |
| • Multiple Promotions and Bonuses: Trade 100 Bonus (No Deposit Bonus), Loyalty Program & Cashback and much more offers | • Order Types: market, limits, stop-losses, trailing stops, one-cancels-other |
| • Risk management tools include trade calculators, limit orders, stop-losses/trailing stops, and negative-balance protection | • 50+ forex currency pairs, 4+ precious metals, 3+ CFDs, and 4+ cryptocurrency CFDs. |
| • Market Analytics – Analytics include a daily market update, forex related news, and FOREX TV. | • Allow any strategy Hedging, Scalping, Auto / EA trading |
| • Trader Tools- economic calendar, currency converters, and forex trade calculators | • 5 digits precision for all accounts and No requotes |
| • Multiple methods for deposits and withdrawals | • $100 Welcome Bonus – Get Bonus now |
| • History in Forex Operating Since: 2011 | • 2 Million Global Customers |
| • Multiple Regulation in UK, Cyprus, South Africa, Mauritius | • Regulated: CySEC, FCA, FSC, FSCA |
| • Digital and fast account opening | • Head-Quarter: Cyprus |
| • Trading Platforms: MT4, MT5, FXTM Trader App, Web, Mobile Trading | • Signals & Copy Trading Offering & Supported |
| • Trade Forex, Commodities, Cryptocurrency, Stocks, Shares – Open a Free Demo Account | • Trade Indices, Metals, Energies, CFDs |
| • ECN, Standard, Cent, Pro & Stock CFD Account | • Min $10 Deposit |
| • Expert analysis with FXTM Trading Signals | • Market Analysis Report |
| • Various Deposits & Withdrawal Options | • Type: ECN, STP |
| • Support Auto (EA), Social & Copy Trading | • Leverage: up-to 1:2000 |
| • Dedicated & Multilingual Customer Support | • Commission: From $0 – $2 |
| • Great educational tools – Click here for Info | • Instant/Market Execution |
| • Award Winning Broker Founded and in Business since 2009 | • Multiple Regulation: CySEC & IFSC HQ: Belize |
| • 4 account base currencies: (EUR, USD, CNY, GOLD) | • Long regulated history of operating |
| • Account Types: Prime, ECN, R-Trader, Pro-Cent, Pro-Standard | • Min. Deposit: 10 US$ |
| • Leverage: 1:30 | 1:2000 (Varies between Account Types) – Click here for more info | • Provide Tighter spreads from 0 pips |
| • Multilingual Support in 13 Languages | • Fastest order execution |
| • 7 Asset Classes, 12,000+ Stocks, Indices, FX, ETFs to Trade | • Leverage: up to 1:2000 |
| • Trading Platforms: MT4, MT5, c-Trader, R-Trader to cater most of the traders. | • Supports Automated Trading – Know more |
| • Micro accounts with the minimum lot size of 0.01 | • Quick account registration |
| • Free trading signals and research tools | • System works 24/7 |
| • Several dozens of Deposit and Withdrawal methods | • Automatic Withdrawal System |
| • Participant of The Financial Commission Compensation fund | • Provide Negative balance protection |
| • High Liquidity – Open a Free Demo Account | • Exclusive trading tools |
| • Execution quality certificate of Verify My Trade | • Demo Contests |
| • Supports MT4/Mt5/Social/EA/Auto/Copy Trading | • Market Outlook and Research |
| • Regulated by the International Financial Services Commission IFSC #IFSC/60/191/TS/19) of Belize | • In the Forex game since 2010 and have gone from strength to strength over the past decade – Click Here to know more |
| • Type: Pro Account ECN, Classic (STP Execution) | • Platforms: Meta-Trader 4, Meta-Trader 5, Web, Mobile |
| • No conflict of interest through NDD technology – Open FREE Demo Account now | • Award winning Competent & friendly 24/5 live support |
| • Offers 50+ instruments plus beginner-friendly materials | • CFDs in Forex, Cryptos, Indices and Spot Metals |
| • Minimum trade size of 0.01 lots | • Allow Scalping and Auto / EA Trading |
| • Tight spreads from 0.1 pips | • Leverage up to 1:200 |
| • Discount on commissions for active traders | • Price improvements on all order types Explore the trading conditions |
| • Maximum fund security | • Rapid market execution |
| • “Most Active Broker in Asia 2020” Award | • Head-Quarter: Cyprus – explore further |
| • Regulation: CySEC, FSC BVI | • Founded in: 2007 |
| • Multilingual 17 Language Support | • 7 Million Clients Worldwide |
| • Standard, Eurica, ECN & Cent Accounts | • Deposit Bonus 30-100% |
| • Unique “Forex signals” app | • Leverage from 1:1 up to 1:1000 |
| • Individual online training – Click for more info | • Customer support 24/7 |
| • Forex, CFDs, Indices, futures & Crypto trading | • Over 300 trading instruments |
| • PAMM & Copy trade system | • Swap-free accounts |
| • Insta-Forex TV: Dedicated to Forex Activities | • Automatic refund |
| • Platforms: MT4, Web-Trader, Mobile-Trader | • Instant notifications |
| • Numerous Deposit Methods | • Leverage: 1:30 | 1:1000 |
| • Professional education and analysis | • Low Deposit requirement |
| • Analytical & advanced tools | • MT4, MT5, Web-Trader – Know more |
| • Negative Balance Protection applied | • Financial Ombudsman Service |
| • Coverage from Investor Compensation Fund | • Many Bonus, Contests & Promotions |
| • 20+ Years of in Forex Business Operations since 2008 – Click to know more | • Regulation / Jurisdiction: SVG, FSC & IFSC |
| • More then 2 Million happy Clients World-wide in more then 150 Countries | • Leverage: 1:500 & 1000 (Conditions Apply) |
| • 8 + Global Locations across 3 continents | • 250+ trading instruments to trade |
| • Versatile Deposit & Withdrawal Options | • Trading Platforms: Web, MT4 & MT5 |
| • Offering Trading on CFD, Crypto & Forex | • Leverage up-to 1: 1000 |
| • Currencies, Commodities, Indices, Stocks to Trade – Open a FREE demo account | • Account Type: ECN, Micro, Standard & Pro Accounts to suite most of the traders |
| • Mobile Trading: iOS, Android & Windows | • 250+ financial CFD instruments. |
| • Loyalty Cashback | • Quick Deposit & Withdrawals |
| 10 major US stocks to trade | • 11 global equity indices |
| • Commodities such as gold, natural gas, silver and crude oil | • More than 60 Forex pairs and crosses Explore to get more information |
| • Commonwealth of Dominica Registration | • Founded in 2011 |
| • (NDD) trading model with STP, DMA and ECN trading execution – Click here to experience trading conditions | • Low/Zero Spread |
| • MT4 Fix & Variable, MT4 ECN & MT5 ECN, c-Trader ECN, Mobile App | • Trade With up-to 1:1000 – Get more info |
| • Large And Unique Range of Funding Methods | • Low Commissions |
| • 4 markets – FOREX, Metals, Energies, Cryptocurrencies | • 100% Deposit Bonus |
| • All Expert Advisors (EAs) and Scalping allowed | • Islamic (swap-free) accounts |
| • 45+ Currencies, 5 Crypto-currency, 5+ CFD’s to Trade | • Trading signals/Market analysis |
| • High Leverage – Low Margin – Open a Free Demo A/C | • Trade ECN with $10 |
| • Registered in Saint Vincent and the Grenadines Click here to know more | • Operating since 2018 & Accept USA Clients as well |
| • All accounts are ECN STP accounts that use market execution | • Offering Max Leverage 1:500 |
| • 55+ Forex Currency Pairs, 11+ Indices, 9 Commodities, Metals to Trade | • 109+ Stocks, and 31 Crypto / Digital Currency available to trade |
| • Type of Account: Mini Var Pro Standard | • MT4 & Mobile Trading |
| • Traders can trade on institutional grade liquidity from the top investment banks, as well as from completely transparent dark pool liquidity execution venues | • Allow Scalping, New Spike, Automation / EA Trading Open a FREE Demo Account Now to experience the platform |
| • Regulated by License IFSC/60/256/TS/14 and Founded in 2010 | • Incorporated in St. Vincent & the Grenadines |
| • Customers in more then 30 countries worldwide | • More than 20 International awards |
| • More than 400 tradable assets, direct access to the world exchanges | • Offers Fast Execution speed from 0.1 seconds |
| • Newbie, Fort, Flex, VIP Account Type | • Offer Micro/Cent Accounts |
| • Multiple Deposit & No Deposit Bonus | • Leverage up to 1:infinity |
| • Mega-Protect Bonus guarantees to protect funds during drawdowns & gives +100% to the deposit! | • Trading Platform: MT4, MT5, Ninja-Trader, Binary, Mobile Trading & CQG Open a free demo account to try |
| • Multiple Online Promotions & Contests | • Support Social, EA / Auto-Trading |
| • ECN/STP order execution | Spread from 0.1 points |
| • Swap and commission-free accounts Click here to know more | • Newbie accounts for beginner traders |
| • Any trading strategies are allowed | • Tradable Margin Bonus |
| • Trade on (50+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities | • 60+ Currency Pairs & 10+ Crypto-Currency to Trade and much more to offer. Get more info |