Best Forex Trading Platform List

Of the 43 brokers compared in May 2022 the best trading platforms for trading forex are:

  • Pepperstone Pepperstone - Best MetaTrader 4 forex broker.
  • IC Markets Logo IC Markets - Top MetaTrader 5 CFD broker.
  • FXCM FXCM - Best forex trading app with NinjaTrader.
  • Plus500 Logo Plus500 - Best forex trading platform for beginners.
  • ig logo new IG - Largest forex broker with ProRealTime.
  • eToro Logo eToro - Top forex software for copy trading.
  • fxpro logo new FxPro - Best cTrader forex broker for scalping.
  • city index logo new City Index - Good eSignal charting software.
  • TD Ameritrade logo TD Ameritrade - Best trading platform for US Traders.
  • OANDA logo OANDA - Top TradeStation software platform.

Pepperstone
IC Markets
FXCM
Plus500
Our Rating
9.17
8.50
7.93
5.83
74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider
77% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd
66% of retail investor accounts lose money when trading CFDs with this provider
77% of retail CFD accounts lose money

Regulations and Licenses

Feature
Pepperstone
IC Markets
FXCM
Plus500
ASIC (Australia)
FCA (UK)
MAS (Singapore)
FSCA (South Africa)
CYSEC (Cypus)
IIROC (Canada)
FMA (New Zealand)
DFSA (Dubai)
FSA (Seychelles)
SCB (Bahamas)

Brokerage

Feature
Pepperstone
IC Markets
FXCM
Plus500
EUR/USD Avg. Raw Spread
0.17
0.02
0.22
-
GBP/USD Avg. Raw Spread
0.59
0.23
0.80
-
AUD/USD Avg. Raw Spread
0.24
0.17
0.40
-
EUR/USD Standard Spread
0.75
0.62
-
-
EUR/USD Fixed Spreads
-
-
-
-
Commissions (USD Base)
$3.50
$3.50
$3.00
-
Minimum Deposit
$0
$0
$300
$100
Swap Free Account
No Inactivity Fees
Funding Methods
16+
15+
8+
3+
No Funding Fees

Markets and Instruments

Feature
Pepperstone
IC Markets
FXCM
Plus500
Currency Pairs
62+
61+
42+
71+
Cryptocurrency CFDs*
12+
18+
7+
15+
Index CFDs
14+
16+
13+
67+
Share CFDs
300+
100+
15+
1816+
Commodities CFD
9+
26+
12+
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
Pro. Max Leverage (Australia)
500:1
500:1
500:1
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
Pro. Max. Leverage (The United Kingdom)
500:1
-
500:1
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
500:1
300:1
Retail Max. Leverage (UAE)
Major Pairs 30:1
Minor Pairs 20:1
-
-
-
Pro. Max. Leverage (UAE)
500:1
-
-
-
Retail Max. Leverage (Canada)
-
-
Major Pairs: 50:1
Minor Pairs: 33:1
-
Retail Max. Leverage (Singapore)
-
-
-
Major Pairs 20:1
Pro. Max. Leverage (Kenya)
-
-
-
-
Retail Max. Leverage (South Africa)
-
-
Balance:
0-50k 400:1
50k+ 200:1
-
Retail Max. Leverage (With offshore regulators)
200:1
500:1
Balance:
0-50k 400:1
50k+ 200:1
300:1

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

Trading Platforms + Tools

Feature
Pepperstone
IC Markets
FXCM
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
ECN pricing
Large range of trading platforms
Trade cannabis index

Overall

Pepperstone
IC Markets
FXCM
Plus500