Best Market Maker Forex Brokers

We recommend CMC Markets for its large range of 338 Forex pairs, far surpassing competitors. Along with 12,000 markets, including stocks, indices, and cryptos, the broker offers diverse trading options.

The widely-used MetaTrader 4 and the excellent Next Generation trading platforms cater to various preferences. The latter provides 115 indicators, 70 chart patterns, and a pattern recognition scanner, enhancing trading analytics.

Alongside useful educational resources, CMC Markets earns a respectable overall score of 69/100, making it a solid choice.

CMC Markets Has Great Spreads And Trading Platforms

CMC Markets is one of the longest-standing forex brokers with a traditional market maker model. Established in 1989 in the UK, CMC Markets is popular as the company is publically traded on the London Stock Exchange (LSE), as well as being overseen by multiple tier-1 regulators.

Forex and CFD Trading

CMC Markets offers one of the largest selections of currency pairs currently available to retail traders. Over 300 major, minor and exotic forex pairs can be traded commission-free as spot or forward pairs. Spreads are low, starting from 0.7 pips for the AUD/USD, USD/JPY, and EUR/USD. Other commonly traded currency pairs like the GBP/USD also offer competitive variable spreads as low as 0.9 pips.

As well as hundreds of currency pairs, you can speculate on a range of financial markets by trading CFDs. Shares, ETFs, commodities, indices, and treasuries are offered by CMC Markets.

To get access to all of CMC Markets financial instruments, you’ll need to use the broker’s proprietary trading platform, Next Generation. With a choice of either a beginner or advanced interface, the Next Generation platform is ideal for all levels of trading experience. The platform’s key features include:

• A desktop trading platform and trading apps for iPads, iPhones, and Android mobile devices.
• An inbuilt charting package with advanced technical indicators, drawing tools, and chart types.
• Pattern recognition tools with price projection functionality.
• Sentiment data and fundamental analysis tools, including an economic calendar, Reuters news, insights, and research reports.
• Advanced risk management tools with premium order types, like guaranteed stop-loss orders.

CMC Markets also offers MetaTrader 4 (MT4) if you are looking for algorithmic trading features. While you’ll have more restricted market access than Next Generation users, you’ll be able to fully automate trading with Expert Advisors. The MT4 platform is available as a desktop platform, WebTrader platform, or mobile trading apps.

Our Verdict On CMC Markets

The market maker broker is ideal for traders looking for the best trading platforms combined with a wide range of forex pairs. Over 300 spot and forward currency pairs can be traded with no commission spreads from 0.7 pips.

CMC Markets ReviewVisit CMC Markets

eToro is our top choice for copy and social trading. With a community of over 30 million users, eToro allows you to connect with follow and copy other traders making it a good choice if you are new to trading.

One unique feature eToro offers is Smart Portfolios. This is like an index of the best signal providers in the community, alternatively, you can trade indices of stocks based on themes like US politics, Crypto, and Big Tech using AI technology.

eToro Has The Best Copy Trading Trading Platform

eToro is a hybrid market maker broker that offers one of the most popular social trading platforms worldwide. Its popularity stems from a range of features, including:

• Unique social trading features such as CopyTrader and CopyPortfolios.
• An easy-to-use multi-asset trading platform that provides access to over 2,000 financial instruments and CFDs, including stocks, cryptocurrency, and forex among others.
• Social media and trading features like a newsfeed, and the ability to chat with other community members and share ideas.
• Advanced technical analysis tools with ProCharts.
• Licensed by top-tier regulators such as CySEC (Cyprus), the FCA (UK), and ASIC (Australia) along with the FSA (Seychelles).

Social Trading With eToro

eToro boasts one of the globe’s largest social trading communities, with millions of traders from 140+ countries. To automate trading, you can use the broker’s CopyTrader feature that allows you to find other traders you want to follow, and copy the trades they make.

You also have the option of Automated Trading Platforms via CopyPortfolios, yet instead of duplicating the strategies of individual traders, you copy a portfolio that comprises a basket of financial instruments. The portfolio is managed and rebalanced by eToro’s experts, saving you time and effort in making individual trades. There are two types of CopyPortfolios that eToro offers:

• Top Trader CopyPortfolios: A portfolio that copies a selection of different high-performing traders.
• Market CopyPortfolios: A basket of financial instruments that can include forex, commodities, indices, ETFs, and shares.

Hybrid Market Maker

eToro promotes a hybrid market maker model with a combination of market maker and NDD/STP features. While many market makers only use their own liquidity to fill forex traders’ orders, hybrid models both pass on trades to external liquidity providers and absorb some exposure in trades themselves.

eToro – Final Words

eToro is a hybrid market maker that uses a combination of a dealing desk and NDD/STP execution. The broker is one of the most popular worldwide for copy trading, with a wide range of account mirroring and social features.

easyMarkets differs from other brokers in this list as they have fixed spreads and all trades include a guaranteed stop loss (GSLO). These features mean you never need to worry about slippage.

To get easyMarkets full range of features, you will need to use the in-house developed platform. Other features include Freeze Rate and dealCancellation. MT4 and MT5 are other platform options but don’t have a GSLO.

easyMarkets fixed spreads start from 0.8 pips for the EUR/USD pair.

EasyMarkets Offers Great Risk Management Tools

EasyMarkets is a traditional market maker broker that is well-known for its unique risk management tools. The broker’s top five features include:

• Exclusive risk management tools such as guaranteed easyTrade, dealCancellation, and Freeze Rate
• Free guaranteed stop-loss orders to reduce the high risk of trading.
• Fixed spreads from 0.9 pips commission-free.
• A choice of the broker’s proprietary trading platform or MetaTrader 4.
• Regulated by ASIC (Australia), CySEC (Cyprus), and the FSC (British Virgin Islands).

easyTrade allows you to limit your risk when trading forex while eliminating the need for margin requirements and stop-loss orders. It takes three simple steps to set up your easyTrade – you specify the amount you will risk, the trade duration, and whether the exchange rate will increase or decrease in value.

dealCancellation allows you to choose a window where you can undo losing trades when the market moves against you. For a fee, you can pick a one, three, or six-hour margin to cancel your trade, eliminating some risk from trading big events or volatility. dealCancellation is only available on the broker’s day trading products like gold, silver, oil, and forex.

The Freeze Rate tool allows you to freeze the price, giving you some breathing room to set up and execute your trade. The price is frozen for 3 seconds, which may be very useful in volatile conditions.

Our Verdict On easyMarkets

The broker’s unique risk management tools such as easyTrade, dealCancellation, Freeze Rate, and free guaranteed stop-loss orders make easyMarkets one of the best market makers for risk management. They are featured on the Best Forex Brokers In Australia list based on these features and their fixed spreads.

We think IG Trading’s range of 17,000 financial instruments is a key strength. This and the availability of 4 trading platforms – IG platform, L2 Dealer, ProRealTime and MT4, means IG can cater for chart traders, new traders and traders wanting to automate their trades.

The broker is regulated in all major financial jurisdictions, has a 4-star rating on Trustpilot and has a solid reputation which earned it a trust score of 100/100 from us.

IG Has The Most Traders And Largest CFD Range

With nearly 50 years of experience providing trading services, IG is a reputable broker available to most retail traders worldwide. Using a traditional market maker pricing and execution model, the broker offers both CFD and traditional share trading.

CFD Trading

IG provides access to one of the most diverse selections of CFDs with a staggering 17,000 financial instruments to choose from.

• Forex: 80+ currency pairs with spreads starting from 0.6 pips and no commission fees.
• Commodities: 35 CFDs derived from metal, energy, and soft commodity markets.
• Indices: Over 80 indices including the US 500, Australian 200, and FTSE 100.
• Cryptocurrency: 15 major cryptos and crosses plus a cryptocurrency index.
• Stocks: 2,000+ ETFs plus Australian and international shares.
• As well as options, sectors, digital 100s, bonds and interest rates. 

To develop and execute trading strategies, the broker provides access to an array of trading platforms. On top of IG’s proprietary platform (WebTrader or mobile apps), you can use ProRealTime for advanced charting, MetaTrader 4 for automation, of L2 Dealer for direct market access (DMA).

Final Words – IG

With a staggering 17,000 financial instruments available to trade, IG offers some of the best market access available to retail traders. You also get a range of trading platforms to choose from that suit different needs, including proprietary software and MetaTrader 4.

We like AvaTrade because they have spreads of 0.9 pips for the EUR/USD pair but because they are fixed, AvaTrade is a good choice for scalp and day traders. Trading is available on MT4, MT5 and AvaTrade’s proprietary AvaTradeGo trading platform.

Unusually for a market maker, social trading tools such as AvaSocial, ZuluTrade and DupliTrade. Providing another way to take advantage of the broker’s unrestricted trading conditions.

AvaTrade Has 16 Crypto CFDs To Trade

AvaTrade is a traditional market maker broker that offers CFD trading with both cryptocurrencies and currency pairs included in its product range. While many market makers provide variable spreads, AvaTrade only offers fixed-spread account types with their Automated Trading Platforms.

In terms of trust and safety, AvaTrade is regulated by various financial authorities around the globe, including CySEC in Cyprus, ASIC in Australia, and the NFA in Japan.

Cryptocurrency Trading

AvaTrade is a great option if you want to focus your trading strategies on cryptocurrency CFDs. Sixteen major cryptos can be traded with no commission fees. As well as trading the cryptos against the USD, crypto/fiat pairs are available (JPY, EUR, and others).

Crypto CFDs offered by AvaTrade include:

• Bitcoin
• Litecoin
• Ethereum
• EOS
• Ripple
• Dash
• Chainlink
• Uniswap

Disclaimer: as with foreign exchange, cryptocurrency markets are very volatile and come with a high risk of losing money. It is important to incorporate risk management techniques into your trading strategy, along with using a regulated broker such as AvaTrade.

Final Words – AvaTrade

With 16 major cryptocurrency CFDs available, AvaTrade is a top option for crypto traders wanting a trusted broker with strong regulation.

XM earns our recommendation for its user-friendly platform XM app for iPhone and Android mobiles. This app offers 1000+ trading instruments with commission-free spreads of 1.6 pips on the Standard account and 0.1 pip with a $3.50 commission on their Ultra Low account.

Other features we like are their educational resources, including webinars and research materials XM provides and access to the MT4 and MT5 trading platforms.

XM Is A Solid Market Maker With Tight Spreads

XM is a market maker that is well-known for its low variable spreads and range of commission-free account types. To trade, you can choose from two of the world’s most popular platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both of which offer three account types.

• Micro Account: No commission spreads from 1 pip, micro-lot sizes of 1,000, and a minimum trade volume of 0.01 lots on MT4 and 0.1 lots on MT5.
• Standard Account: Commission-free forex spreads from 1 pip, standard lot sizes of 100,000, and minimum trade sizes of 0.01 lot.
• Ultra-Low Account: Tighter spreads from 0.6 pips with no commission, and a minimum trade volume of 0.01 lots (standard ultra) or 0.1 lots (micro ultra).

The initial minimum deposit to open an account with XM is low compared to other brokers. Only $5 is needed to open a Micro or Standard Account, while only $50 is required for an Ultra-Low Account.

Each account type allows hedging, and an Islamic account option is available for those following Sharia Law.

XM – Final Words

XM is a top market maker with tight no commission spreads from 0.6 pips. To access the broker’s lowest spreads, you’ll need to sign up for an Ultra Low account type, where a low minimum deposit of $50 is needed.

Regardless of the XM account type you sign up for, you can choose between MetaTrader 4 or MetaTrader 5 as your trading platform.

We recommend Interactive Brokers for its comprehensive range of financial products, low-cost trading with competitive commissions, and direct market access.

The platform comes in 3 flavours, IBKR Trader Worldstation, IBKR Desktop, and IBKR Mobile with the desktop version having sophisticated tools and research options designed for professional traders.

Products to trade are not just limited to CFDs, with stocks, bonds, warrants, options, ETFs, currencies and futures also available.

Interactive Brokers Has The Best Trading Software

Interactive Brokers is a top broker that offers a market-maker-designed trading platform ideal for experienced traders. Trader Workstation (TWS) Mosaic is a fully customisable platform where you can trade the broker’s full range of financial instruments while conducting comprehensive technical analysis and risk management.

For instance, The IB Risk Navigator is a real-time risk management tool that measures risk exposure across multiple asset classes around the world. Over 100 order types and algos are available to TWS users to help minimise trading risks, enhance execution, and simplify trading.

If you prefer a simpler platform and interface, the market maker broker also offers a beginner-friendly mobile trading app and WebTrader option (Client Portal). Regardless of the trading platform you choose, Interactive Brokers provides access to over 100 currency pairs.

Interactive Brokers – Final Words

Interactive Brokers Trader Workstation offering is a brilliant choice for those wanting a market maker optimised trading platform with advanced trading and risk management tools. A good range of currency pairs is available, along with a mobile app.