Top 5 Rated Brokers Overall
Top Rated Brokers Overall
While the best forex trading platform for a particular trader will always depend on your specific trading style, we rate the following brokers as the best of the best for their excellent trading conditions, competitive trading costs and variety of currency pairs and other trading products, such as CFDs, ETFs, stocks and spread betting.
- Pepperstone
- IC Markets
- BlackBull Markets
- Fusion Markets
- OANDA
Pepperstone claims the title Broker of the Year based on several factors, including its fast execution speeds, competitive trading costs and extensive range of financial markets to trade. This broker offers a choice of four trading platforms and offers access to over 700 CFDs and sixty currency pairs. Pepperstone account holders also benefit from award-winning customer service and excellent educational resources for beginners.
Top 5 RAW/ECN Trading Accounts
Top RAW/ECN Trading Accounts
When it comes to pricing, RAW and ECN-style trading accounts offer some of the tightest spreads on the market. Most of the brokers on this list boast minimum spreads of 0.0 pips.
- Pepperstone
- IC Markets
- Fusion Markets
- City Index
- TMGM
Pepperstone again snags the top spot for its overall low spreads. Minimums for this broker can go as low as 0.0, and the average, based on our tests, is 0.36 pips. Honourable mention goes to IC Markets, which boasts excellent spreads across all major currency pairs.
Top 5 Standard Accounts
Top Standard Accounts
Standard accounts may not have the ultralow spreads of a RAW or ECN account, but the absence of commission fees makes them an appealing option for new traders and those who prefer fixed trading costs.
- OANDA
- IG Group
- Interactive Brokers
- CMC Markets
- Swissquote
Based on our testing, IC Markets more than earns its place at the top of this list. The broker can claim an impressively low average spread of 1.03 pips for its standard account. Runner-up CMC Markets came in only slightly higher at 1.11 pips, making either broker an excellent choice for anyone looking for predictable trading costs.
Top 5 Most Trusted Forex Brokers
Top Most Trusted Forex Brokers
Brokers recognised in this category stand out for their commitment to investor safety and overall transparency. Most hold multiple licenses from top jurisdictions, including Australia, the UK, the USA and Europe.
- OANDA
- IG Group
- Interactive Brokers
- CMC Markets
- Swissquote
OANDA claims the top spot due to a record number of licenses from regulators around the world. Most significantly, the broker has the stamp of approval from five Tier-1 jurisdictions: Australia, the USA, the UK, Canada and Singapore. With 17 years of experience in the forex industry, this broker has the right to rest on its reputation.
Top 5 Brokers For Fast Execution Speed
Top Brokers For Fast Execution Speed
In volatile markets, execution speeds can mean the difference between a big win and a huge one. The brokers below help you avoid the pitfalls of market gaps and slippage for trades that execute at the quoted prices you need.
- BlackBull Markets
- Pepperstone
- Fusion Markets
- Axi
- TMGM
If we had to describe BlackBull Markets’ execution speeds in one word, that word would be ‘blistering.’ This broker blew the competition out of the water in our tests, clocking in at just over 50 ms for limit orders and just under 100 ms for market orders.
Top 5 Brokers For Low Commission
Top Brokers For Low Commission
What goes well with tight minimum spreads? Low commissions? The following brokers earned top marks for controlled commissions that help you maximise your profits.
- Fusion Markets
- Pepperstone
- FP Markets
- IC Markets
- GO Markets
We awarded Fusion Markets the top spot for consistently excellent performance across currencies in our tests. Whether you denominate your account in Australian dollars, American dollars, British pounds or euros, this broker sits in the top five for lowest commissions.
Top Brokers For Cost
Top Brokers For Cost
While some brokers can boast low spreads and others claim low commissions, these brokers offer some of the best possible pricing with account types that feature both competitive minimum spreads, low commissions and minimal indirect costs.
- Fusion Markets
- Accendo
- Fondex
- IC Markets
- Vantage FX
With no minimum deposit, no withdrawal fees and no inactivity fees, Fusion Markets offers an excellent trading experience for those on a budget. The 0.18 RAW and 0.9 standard account spreads don’t hurt, either.
Top 5 Trading Experience
Top Trading Experience
A great trading experience encompasses seamless platform functionality, excellent trading tools, fast execution and competitive pricing. Of all the brokers we trialled this year, the following ten offered the most comprehensive collection of trading features.
- BlackBull Markets
- Pepperstone
- Fusion Markets
- FxPro
- City Index
BlackBull Markets earned top marks for solid trading conditions, accessible trading platforms and excellent customer service. This broker’s execution speeds handily beat the competition, and it boasts an impressive selection of ways to trade: MetaTrader 4, MetaTrader 5, cTrader, TradingView and BlackBull Trader. Account holders also praise BlackBull for its friendly, accessible and knowledgeable customer support representatives.
Top 5 Brokers For Customer Service
Top Brokers For Customer Service
Even the most experienced traders need someone to lean on when it comes to technical questions or account difficulties. In those moments, these brokers stand ready to assist with a comprehensive array of human and bot-driven support.
- Pepperstone
- FP Markets
- Eightcap
- City Index
- OANDA
Our choice for best customer service goes to Pepperstone. No surprise since this broker has a shelf full of trophies for its customer support, including 11 awards from Investment Trends. In addition to human-powered live chat and email channels, the broker guarantees that your questions will be answered by trained representatives with trading and platform-specific experience.
Top 5 Brokers For Education
Top Brokers For Education
Though particularly important for beginners, solid education resources benefit traders of all experience levels. These brokers continue to develop new tools to improve your trading, from step-by-step guides to webinars.
- CMC Markets
- Eightcap
- IG Group
- Interactive Brokers
- FOREX.com
From market research tools to a library of guides on trading topics to instructions on how to best leverage platform features and regular live webinars, CMC Markets has the tools any online trader needs to take their trading to the next level.
Top 5 ASIC-Regulated Brokers
Top ASIC-Regulated Brokers
The following brokers, all of which hold an Australian Financial Services License (AFSL) issued by the Australian Securities and Investments Commission (ASIC), provide a superior trading environment to traders Down Under.
- Pepperstone
- Eightcap
- IC Markets
- Fusion Markets
- FP Markets
View the full list of Australian forex trading platforms, which is updated monthly.
Top 5 FCA-Regulated Brokers
Top FCA-Regulated Brokers
These award winners, licensed and regulated by the UK’s Financial Conduct Authority (FCA), offer a superior trading experience for residents of Great Britain and Northern Ireland.
- Pepperstone
- OANDA
- Eightcap
- IG Markets
- Admirals
Top 5 CySEC Regulated Brokers
Top CySEC Regulated Brokers
For traders in Europe, these brokers offer attractive combinations of top trading platforms, high leverage, tight spreads and powerful trading tools. Each broker on this list holds a license from the Cypress Securities and Exchange Commission (CySEC) and is authorised to operate throughout the EU.
- Eightcap
- FP Markets
- Pepperstone
- IC Markets
- Admirals
Top 5 US-Regulated Brokers (NFA, CFTC)
Top US-Regulated Brokers (NFA, CFTC)
American traders interested in trading forex may have fewer brokers from which to choose but won’t want for quality. The top brokers licensed by the National Futures Association (NFA) and the Commodities Futures Trading Commission (CFTC) all offer attractive pricing with low trading costs, quality risk management tools and a respectable selection of trading products.
- OANDA
- FOREX.com
- IG Group
- Interactive Brokers
- TD-Ameritrade
Top 5 UAE-Regulated Brokers (DFSA, ADGM)
Top UAE-Regulated Brokers (DFSA, ADGM)
If you’re ready to start trading and based in the Middle East, these brokers licensed by the UAE’s Dubai Financial Services Authority (DFSA) or the Abu Dhabi Global Market (ADGM) provide low trading costs, superior trading tools and a wide variety of financial products you need for an excellent trading experience.
- Pepperstone
- AvaTrade
- IG Group
- Axi
- XTB
Top MAS-Regulated Brokers
Top MAS-Regulated Brokers
For traders based in Asia, an Fx broker regulated by the Monetary Authority of Singapore provides the peace of mind that comes from trading with a licensed, transparent online broker. The following represent the best of MAS-regulated brokers based on our analysis.
- FP Markets
- Eightcap
- Pepperstone
- IG Group
Top CIRO Forex Brokers
Top CIRO Forex Brokers
Canadians in search of excellent trading conditions and competitive trading costs should consider these brokers, all of which hold licenses from the Canadian Investment Regulatory Organisation (CIRO).
- OANDA
- Forex.com
- CMC Markets
- AvaTrade
- FXCM
Top 5 MT4 Brokers
Top MT4 Brokers
First released in 2005, MetaTrader 4 remains the undisputed best trading platform for trading forex. With a vast library of technical indicators for advanced market analysis and decades of historical data for backtesting strategies, it provides a tailored forex experience like no other. The following brokers have partnered with MetaTrader to offer a tailored experience catering to forex traders.
- Pepperstone
- IC Markets
- Eightcap
- BlackBull Markets
- Axi
Top 5 MT5 Brokers
IC Markets Review
Pepperstone Review
FP Markets Review
BlackBull Markets Review
Fusion Markets Review
Top MT5 Brokers
With many of the same powerful features as MetaTrader 4, along with access to centralised exchanges, MetaTrader 5 expanded the reach of online traders around the world. If you’re interested in diversifying your portfolio with exchange-traded financial products such as stocks and futures, have a look at these brokers.
- IC Markets
- Pepperstone
- FP Markets
- BlackBull Markets
- Fusion Markets
Top 5 TradingView Brokers
Top TradingView Brokers
This combination analytical platform, mobile trading app and social network for traders offers some of the most advanced charting tools we’ve encountered. Unique features, like stock, forex and cryptocurrency screeners, give TradingView an edge with experienced technical traders. The below brokers offer at least one account that supports TradingView.
- Eightcap
- Pepperstone
- OANDA
- City Index
- FXCM
Top 5 Brokers For Crypto CFDs
Top Brokers For Crypto CFDs
If you’re a cryptocurrency enthusiast, you understand that trading crypto CFDs comes with some additional challenges. These brokers provide a trading environment tailored to the specific needs of crypto derivatives trading, from a wide range of tokens to trade to alternative account funding and withdrawal options that link to your crypto wallet.
- Eightcap
- eToro
- Plus500
- AvaTrade
- IC Markets
Top 5 Brokers For Social Trading/Copy Trading
Top Brokers For Social Trading/Copy Trading
Interested in trading forex or CFDs but looking for a lighter experience? These brokers allow you to mimic the positions of experienced traders and crowd-source your next trading strategy. Social and copy traders will appreciate the pared-down, gamified investing experience available with these brokers.
- eToro
- Pepperstone
- BlackBull Markets
- FXCM
- FP Markets
Top 5 Brokers For Automation
Top Brokers For Automation
Whether you code your own trading bots or like to experiment with MetaTrader’s Expert Advisors, these brokers offer the platforms and integrations you need to automate your trading workflow from strategy design to execution.
- Fusion Markets
- Pepperstone
- BlackBull Markets
- FXCM
- FP Markets
Who Are The Best Forex Brokers?
The team at CompareForexBrokers in 2026 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.
2026 Forex Broker Awards
CompareForexBrokers was founded in 2014 by Justin Grossbard and Noam Korbl with a simple mission: to simplify the process of evaluating and choosing the best forex broker for your online trading needs.
Today, we’re excited to announce the results of our annual Forex Broker Awards. Based on a cumulative review of each brokerage we cover over the preceding twelve months, our global forex awards recognise the forex and spread betting brokers that stand out for superior performance, innovative tools, excellent customer service and other features that matter to forex traders.
From innovations in social and copy trading platforms to cutting-edge mobile trading apps to excellent MetaTrader trading experiences or low trading costs, our forex awards aim to showcase the best online broker across a host of categories.
Our Annual Awards results are impartial and derived from our independent research. The Compare Forex Brokers 2026 Broker Awards are granted for demonstrated excellence in categories deemed significant to investors, traders, and consumers in the forex industry.
IC Markets
A Broker That Has Low Fees
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IC Markets fees are the lowest due to four key factors:
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The Lowest Spreads, Low forex fees with Zero Spread Accounts
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Low Commission Rates, Commissions as low as $3.50 per lot
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No Funding Fees, No fees on funding or withdrawals
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No Hidden Fees, No holding or inactivity fees
IC Markets Spreads
IC Markets offer a range of CFD trading such as commodities, metals, indices, bonds, and crypto. Below shows the minimum and average spreads of the major cryptocurrencies, including Bitcoin, Ethereum and Ripple.
IC Markets Commissions
There are 10 base currencies offered by IC Markets. The actual commission for the raw spread account (for MetaTrader 4) is determined by the base currency set. Below shows the commissions across each base currency from Euro, USD, GBP, JPY to AUD.
Other Trading Fees
IC Markets have $0 funding fees when using PayPal, Skrill, Credit Card, BPAY and FasaPay. Only international transfers can lead to a $20 AUD fee, which is the charge passed on from the bank. The funding fee that is chosen can impact the processing time. The minimum deposit is $200 USD with IC Markets. Like deposits, IC Markets has $0 withdrawal fees from all payment methods but international wire transfers. This method like deposits has a $20 AUD fee associated, which is the charge by the Australian bank. The withdrawal method a forex trader selects will usually determine the deposit methods available.
There are no inactivity fees, even after a prolonged period of no trading. There are also no transfer fees if you want to switch forex platforms or account types (e.g. standard vs raw). A rollover fee is also known as a swap and is charged by all forex and CFD brokers. They are applied when a position is key open for the next trading day. These change regularly, and on Wednesday night the charge for holding a currency pair is triple.
Summary Of Why IC Markets Has The Lowest Fees
IC Markets operate similarly to an ECN broker with straight-through processing (STP) and no dealing desk. This setup ensures the best liquidity and with a large global trading volume achieves the lowest fees for forex traders.
IC Markets = Low Commissions + No Hidden Fees + Lowest Spreads.
IC Markets Holds Three Licences:
- ASIC in Australia (AFSL No.33569)
- CySEC in Cyprus (No 362/18)
- FSA in Seychelles (SD018)
The minimum deposit requirement is USD $200 across all three licences with 16 funding methods and 10 base currency options. It’s the best forex broker for traders looking to minimise brokerage.
IC Markets Review Visit IC Markets
City Index
Has The Best Range Of CFDs
City Index (part of Gain Capital) offers the most comprehensive forex and CFDs across a range of asset classes. This includes indices, shares, cryptocurrency, commodities, interest rates and options. This is the ideal broker for those looking to trade a range of financial products (not just currency). They offer the lowest spreads of any forex broker when it comes to the ‘spread only’ category with no commissions charged to traders. This is termed the ‘standard account’ by most FX brokers.
1) Indices Trading
City Index offers 20 Indices to trade across Europe, Asia and the USA. Trading in this class has fixed spreads from 1 point. Leverage can be up to 20:1 for major indices, and 10:1 for minor indices.
2) Share Trading
City Index allows individuals to trade contracts for difference across over 4,500 shares with leverage up to 5:1. The commission on global shares is 0.09%. Due to the high-risk nature of margin retail forex and share fluctuations, a stop-loss order is recommended. In some cases, a guaranteed stop-loss order (GSLO) order type can also be made to lock in the maximum loss of a trade. If you’re new to high-risk trading, this should be considered as part of your trading strategy.
3) Cryptocurrency Trading
City Index trading is across the major crypto classes including Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. As shown below in 2026 City Index has the lowest costs when it comes to cryptocurrencies. Please note, the Financial Conduct Authority (FCA) in the UK no longer allows you to trade cryptos as a retail trader. Yet, City Index Australia offer 2:1 leverage on crypto CFDs.
4) Commodity Trading
City Index allows trading on over 25 commodities from oil, coffee to wheat with leverage of 20:1 for gold, and 10:1 for most other commodities. The big advantage of commodity trading is the tighter spreads compared to other trading markets.
5) Interest Rates And Options Trading
The final trading grouping is Bonds, Interest Rates and Options. These are commission-free, with spreads only charged.
Summary Of City Index Range Of CFD Markets
City Index (Gain Capital) is Australian Securities and Investments Commission regulated with AFSL 345646 and is known as the service provider Forex.com in the UK, USA and Canada with licences FCA 113942 and NFA 0339826.
With the lowest standard accounts spreads, high leverage and a range of CFDs, City Index is the low-cost solution for those looking to trade more than just currency.
With no initial deposit requirements and no funding fees (including from credit cards), City Index is recommended for those looking to trade forex and a range of financial products and no commissions.
City Index Review Visit City Index
Plus500
Great Risk Management Tools
Plus500 is a solid option for risk averse CFD traders, thanks to its strong risk management features. To help protect yourself against volatility (i.e slippage) and the high risk of trading complex instruments, Plus500 offer features like premium order types and investor protections.
Reasons forex traders should consider the Plus500 online trading account include:
- Negative Balance Protection
- Guaranteed Stop Loss Orders
- No Commissions (Other Fees Apply)
- Mobile Trading Platform
1) Negative Balance Protection
Trading forex markets are high-risk due to High Leverage Forex Brokers increasing exposure to the market. This means that if the market moves in the wrong direction, losses can quickly accumulate and could exceed a trader’s deposit. When this occurs, most forex and CFD brokers will request the negative balance be paid back to get reach a zero balance.
Plus500 offers negative balance protection, which means that if a trader goes into a negative balance that the FX broker will adjust the online trading account to $0. This means that if a forex trader places the minimum deposit with Plus500 of $100 (for a credit/debit card) the losses won’t exceed this amount.
2) Guaranteed Stop Loss Orders
A guaranteed stop-loss order (GSLO) order type is similar to negative balance protection but for individual trades. This means that when placing an individual trade a maximum loss amount can be set and Plus500 guarantees the trader’s loss will not exceed this level. This shouldn’t be confused with a standard stop-loss order which also allows a trader to set the maximum loss, but losses can exceed this level due to slippage. It should be noted that when the GSLO order type is activated that the spreads will be wider for that trade. Margin requirements may also need to be met.
3) No Commissions And Hidden Fees
Plus500 primarily makes its brokerage from the market-based spreads (the difference between the buy/sell price). This simplifies calculations for brokerage compared to other brokers who charge a commission, payment processing fees, and forex platform usage fees. Some standard fees to take note of are a $10USD inactivity fee if a trader doesn’t log into their account for 3 months and an overnight funding fee if market positions are held over a sustained period.
4) Training Facilities
Plus500 offers webinars and online training for everyone, from beginners to experienced traders. Educational resources, including tutorials and videos, are also available, and news on global markets can be accessed on the site or through the trading platform.
For beginners, it’s important to use the demo account along with these resources, including the Trading Academy, to gain hands-on experience and confidence before trading with real capital, while understanding the risks of CFD trading.
Plus500 has over 300,000 active customers and is a regulated broker in Australia by ASIC (AFSL 417727), in South Africa by FSCA (FSP 47546) and in the UK by FCA (FRN 509909).
Plus500 offers a Trading Academy section with a variety of educational resources, including eBooks, video guides, and FAQs, to support both beginner and experienced traders.
*Your capital is at risk ‘79% of retail CFD accounts lose money’
eToro
The Broker That Has The Best Social Trading Platform
eToro is the worldwide leader when it comes to social trading/copy trading with:
- Social/Copy Trading
- Copy Portfolios
- CFD Trading
Social Trading
eToro focus on social trading with the trading platform having inbuilt social news feeds. The main feature used is copy trading where a trader can be selected based on their past trading activity. The social trading module displays key stats from past returns to the level of historical risk associated with the individual. eToro also rewards individuals who have their trades copied to maximise the number of individuals engaged in the platform.
Copy Portfolios
Copy portfolio is similar to copy traders but combines similar individuals or markets (e.g. crypto). This can help to diversify risk from just copying one instrument or one trader. Options include market portfolios, top trader portfolios, and partner portfolios.
CFD Trading
Through its propriety trading platform (including mobile trading apps) contracts for different products and asset classes can be traded. This includes shares (stocks), crypto-assets (crypto), commodities, ETFs, indices and 47 forex pairs.
Our Verdict on eToro For Social Trading
eToro is quite different from all other online brokers and was built around social trading, especially its mobile trading platform. With the largest number of copy traders worldwide thanks to the way the broker incentives traders, this is the best broker for those looking for this functionality when you trade forex markets or contracts for difference. It was rated highly among the FCA-regulated brokers we compared.
Open a demo account Visit eToro
*Your capital is at risk ‘68% of retail CFD accounts lose money’
FXCM
The Leading Low Deposit Broker
Traders new to forex or looking to trade low volumes should consider FXCM based on their:
- A low minimum deposit requirement for a live account
- No sign-up requirement for a demo account
- No fee funding and payment methods
- Easy-to-use forex software
What Is The Minimum Deposit Requirement Of FXCM?
The FXCM minimum deposit requirement is $50 internationally, £300 in the UK and €300 in the Euro region. Deposit methods include Visa, MasterCard, and Discover debit/credit cards, Skrill, UnionPay, NETELLER, POLi and in Australia BPAY. The minimum trade size is one lot.
FXCM Trading Station Demo Account
FXCM offers the only demo account that doesn’t require the trader to provide their basic details. From any FXCM webpage, there is the option to “try demo” which launches the web-based demo platform. Virtual money up to $5,000 can be traded in the demo account with most order types supported except for stop/limit trades.
Like any demo account, FXCM replicates real currency markets but it is still simulated. These differences can cause delays in pricing, liquidity restrictions, and not all instruments are tradable. Other factors from no slippage to rejected orders may not be present in a demo account. FXCM offers support for demo account users, but you need to leave the trading platform for live chat, etc. They also offer Swap Free Islamic Accounts.
Overall, the ease of opening a demo account anonymously and instantly with a simple tutorial to get you started is why FXCM has won this CFDs category. It should be noted though they are at the higher end when it comes to forex brokerage fees.
FXCM Review Open FXCM Demo Account
*Your capital is at risk ‘67% of retail CFD accounts lose money’
IG Group
The Most Regulated Online Broker
Those looking to avoid a scam broker at all cost should consider IG as they:
- Are the largest retail foreign exchange broker in the world
- Have licences with most currency trading regulators
- Have additional corporate governance safeguards
IG Size
IG Markets (now known as IG Group) is one of the older brokers founded in 1974. They operate in 16,000+ foreign exchange markets and have over 178,000 clients across the globe. This puts them as a front runner in our Brokers Awards hence the claim that IG is the no.1 CFD trading and spread betting service provider.
IG Governance
IG has a signatory of the FX code of conduct. These global currency trading guidelines help protect traders from scams occurring in future and protect traders’ funds.
IG Regulation
IG is regulated by most ‘tier 1’ government authorities including ASIC (Australian Securities & Investment Commission), JFSA (Japanese Financial Services Authority) and MAS (Monetary Authority of Singapore). Other regulators include FINMA (Switzerland/Swiss Financial Market Supervisory Authority), CFTC (Commodity Futures Trading Commission), and FCA (Financial Conduct Authority) with is the successor of the Financial Services Authority (FSA). The requirements of these regulators help mitigate the risk of forex scams that past brokers have been known to have. They are one of the top providers when it comes to regulation and spreads for their standard account (commission-free).
Interactive Brokers
Ideal For Experts With No Dealing Desk
Professional forex traders only should consider Interactive Brokers due to:
- Very high minimum deposit requirements
- High inactivity fees for low-volume traders
- Low fees, ECN spreads, and no dealing desk execution
- Most financial markets tradable, including stockbroking
Trading Requirements Of Interactive Brokers
Interactive Brokers is not designed for most traders. Only professional traders with high currency trading volume can trade with the broker. To qualify these traders, the service provider’s minimum deposit of $10,000 US Dollars. There are also heavy penalties (known as maintenance fees) if commissions made don’t exceed $10k USD for the initial 8 months. This means real money volumes need to be traded consistently.
ECN Broker Spreads And Commissions
Interactive Brokers is one of the best No Dealing Desk Brokers and ECN Brokers, allowing you to trade directly with liquidity providers. This is similar to IC Markets and Pepperstone. A key difference is commission fees, which for IBKR traders is lower only when an online trader’s volume is very high such as exceeding $5m USD.
Financial Instruments Available
Interactive Brokers offer a great range of financial markets across a range of asset classes. As well as currency trading they offer stockbroking, mutual funds, and even hedge fund products. This allows high volume professional traders to have an all-in-one broker for all their financial requirements.
Overall, if you’re a VIP retail forex trader looking to start trading high-volume consistently in the future across a wide range of financial markets then Interactive Brokers is the best all-in-one solution that offers the lowest brokerage from spreads to commissions.
Interactive Brokers Review Visit Interactive Brokers
How We Compiled The 2026 FX Broker List
That data above came from broker reviews, and our own analysis using their platforms and the regulators for:
1. Australian Foreign Exchange Brokers
The Australian Securities and Investments Commission (ASIC) is the regulator in Australia. Australian forex brokers hold an Australian Financial Services Licence, and the ASIC-regulated brokers we rate are listed above.
2. United Kingdom Foreign Exchange Brokers
The Financial Conduct Authority (FCA) is the regulator in the UK. Despite Brexit, the authority remains guided by the European Securities and Markets Authority (ESMA). Most clients in the EU need to provide a National Client Identifier (for UK residents this is their National Insurance Number) or an LEI for entities. Every FCA-regulated broker we rate is listed above with a valid FRN.
3. Singapore Foreign Exchange Brokers
The Monetary Authority of Singapore (MAS) is the local regulator. Regulated brokers will have a company regulation number relevant to a contract for different trading. You can view the best MAS Regulated Forex Brokers.
4. European Foreign Exchange Brokers
In Europe, there is a general ESMA policy with brokers needing to be regulated with the EU. Most brokers will be regulated by the Cyprus Securities and Exchange Commission (CySEC). Others will be regulated in Germany by BaFin or another regulator in the region such as the Dutch AFM.
5. Non-Regulated Region Foreign Exchange Brokers
The final class is regions that are not known to regulate local brokers. In these regions traders look for overseas brokers with Tier 1 regulation. Often these are High Leverage Forex Brokers without the local regulator restricting this element.
One such area is Thailand, where one broker we do not recommend offers leverage of up to 2000:1.
This page was not designed for USA traders who may require a broker with the National Futures Association (NFA) or the CFTC. If you are in an African region, see where your country sits in our Top Forex Trading Countries data.
You can also view pages for other countries, including:
Our reviews are reader-supported. We may receive payment when you click a link to a partner site. Learn how we make money.
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About the author
Justin Grossbard is the CEO & Co-Founder of CompareForexBrokers established in 2014, along with Noam Korbl and works as Strategic Head Of Research.