Top Forex Brokers

Below are the best forex brokers in 2023 across ten CFD trading categories.

Pepperstone
Swissquote
City Index
Plus500
Our Rating
9.33
7.83
6.83
5.83
Smart Trader Tools
Tight spread only accounts
Trade in 4,500 markets
Trade cannabis index

Regulations and Licenses

Feature
Pepperstone
Swissquote
City Index
Plus500
CIRO / IIROC (Canada)
VFSA (Vanuatu)

Brokerage

Feature
Pepperstone
Swissquote
City Index
Plus500
EUR/USD Avg. Raw Spread
0.1
-
0.07
-
GBP/USD Avg. Raw Spread
0.6
-
0.011
-
AUD/USD Avg. Raw Spread
0.3
-
0.8
-
EUR/USD Standard Spread
1.12
1.7
0.70
1.70
EUR/USD Fixed Spreads
-
-
-
GBP/USD Avg. Standard Spread
1.69
2
1.1
2.3
AUD/USD Avg. Standard Spread
1.22
1.6
2.2
1.4
Commissions (USD Base)
$3.50
2
$2.50
-
Minimum Deposit
$0
$1000
$150
$100
Swap Free Account
No Inactivity Fees
Funding Methods
16+
3+
6+
3+
No Funding Fees

Markets and Instruments

Feature
Pepperstone
Swissquote
City Index
Plus500
Currency Pairs
62+
76+
84+
71+
Cryptocurrency CFDs*
12+
26+
25+
15+
Index CFDs
14+
26+
21+
67+
Share CFDs
300+
250+
4500+
1816+
Commodities CFD
9+
20+
46+
22+
Retail Max. Leverage (Canada)
-
-
-
Retail Max. Leverage (With offshore regulators)
200:1
-
-
300:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations
*CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.

Trading Platforms + Tools

Feature
Pepperstone
Swissquote
City Index
Plus500
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account

Overall

Pepperstone
Swissquote
City Index
Plus500
Our Rating
9.33
7.83
6.83
5.83
 

Who Are The Best Forex Brokers?

The team at CompareForexBrokers in 2023 ranked each broker based on 100 criteria with heaving weightings on fees and trading platform experience. We listed the top fx brokers below based on funded accounts but if you want to trade in a free environment choose from one of the best propriety trading firms.