Top Forex Brokers

Below are the best forex brokers in 2022 across ten CFD trading categories.

  • Pepperstone Pepperstone – Best Forex Trading Experience
  • swissquote logo Swissquote – Most Trusted Forex Forex Broker
  • IC Markets IC Markets – Lowest Trading Spreads
  • city index logo new City Index – Best Cryptocurrency Broker
  • Plus500 Plus500 – Best Trading Account For Beginners
  • eToro eToro – Good Copy And Social Trading Platform
  • FXCM FXCM – Low Deposit + Best Trading Demo Account
  • ig logo new IG Group – Largest Foreign Exchange Retail Broker
  • interactive brokers logo Interactive Brokers – Great Range Of Trading Products
  • avatrade logo new AvaTrade - Great Fixed Spread Broker

Pepperstone
Swissquote
IC Markets
City Index
Plus500
Our Rating
9.17
9.0
8.50
6.83
5.83
74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider
70-80% of retail CFD accounts lose money
77% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd
73% of retail CFD accounts lose money
77% of retail CFD accounts lose money

Regulations and Licenses

Feature
Pepperstone
Swissquote
IC Markets
City Index
Plus500
ASIC (Australia)
FCA (UK)
MAS (Singapore)
FINMA (Switzerland)
CYSEC (Cypus)
FMA (New Zealand)
DFSA (Dubai)
BaFin (Germany)
FSA (Seychelles)
SCB (Bahamas)

Brokerage

Feature
Pepperstone
Swissquote
IC Markets
City Index
Plus500
EUR/USD Avg. Raw Spread
0.17
-
0.02
-
-
GBP/USD Avg. Raw Spread
0.59
-
0.23
-
-
AUD/USD Avg. Raw Spread
0.24
-
0.17
-
-
EUR/USD Standard Spread
0.75
-
0.62
0.80
-
EUR/USD Fixed Spreads
-
-
-
-
-
Commissions (USD Base)
$3.50
-
$3.50
-
-
Minimum Deposit
$0
$1000
$0
$150
$100
Swap Free Account
No Inactivity Fees
Funding Methods
16+
3+
15+
6+
3+
No Funding Fees

Markets and Instruments

Feature
Pepperstone
Swissquote
IC Markets
City Index
Plus500
Currency Pairs
62+
76+
61+
84+
71+
Cryptocurrency CFDs*
12+
26+
18+
25+
15+
Index CFDs
14+
26+
16+
21+
67+
Share CFDs
300+
250+
100+
4500+
1816+
Commodities CFD
9+
20+
26+
46+
22+
Stockbroking
-
-
-
-
-
Retail Max Leverage (Australia)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max Leverage (Australia)
500:1
400:1
500:1
400:1
300:1
Retail Max. Leverage (The United Kingdom)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
-
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max. Leverage (The United Kingdom)
500:1
400:1
-
400:1
300:1
Retail Max. Leverage (Europe)
Major Pairs 30:1
Minor Pairs 20:1
-
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max. Leverage (Europe)
500:1
-
500:1
400:1
300:1
Retail Max. Leverage (UAE)
Major Pairs 30:1
Minor Pairs 20:1
-
-
-
-
Pro. Max. Leverage (UAE)
500:1
-
-
-
-
Retail Max. Leverage (Singapore)
-
-
-
Major Pairs 20:1
Minor Pairs 10:1
Major Pairs 20:1
Pro. Max. Leverage (Singapore)
-
-
-
50:1
-
Retail Max. Leverage (With offshore regulators)
200:1
-
500:1
-
300:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Feature
Pepperstone
Swissquote
IC Markets
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
Unique Feature
Smart Trader Tools
Tight spread only accounts
ECN pricing
Trade in 4,500 markets
Trade cannabis index

Overall

Pepperstone
Swissquote
IC Markets
City Index
Plus500