14 Best Regulated Forex Brokers for 2024

forex broker list

I would advise you to check which entity you are actually opening a trading account with and confirm what protections – if any – are available to you. This can be done by reading the broker’s terms and conditions document and confirming with customer support in writing. To save you time, we also created detailed guides on the best CySEC regulated brokers, best ASIC regulated brokers and best FCA regulated brokers. Plus500 US makes it simple for new traders to get started in futures trading with a low minimum deposit and its intuitive platform. WebTrader has a range of popular features, including watchlists, trading from the chart, and access to live chat support from within the platform.

Choose the Best Forex Broker For You!

FP Markets excels in offering tight spreads and low commissions, making it an attractive choice for cost-conscious traders. This broker also provides a choice between ECN and STP execution models, allowing traders to select the option that best suits their trading style. Many forex brokers offer paper trading tools that let you test different strategies without putting any money at stake. Virtual trading simulators like those are a good way to learn how to trade and understand the different strategies you might employ.

Forex Market Hours in South Africa

forex broker list

However they do have a lower level of supervision compared to brokers with regulation in Australia, Europe, The UK and other major developed economies. The way to tell if a broker has a good reputation is through how old they are, how many authorities they are regulated by and reviews on websites like Trustpilot. Yes, you can trust ECN brokers, especially ECN brokers that are regulated by the Australian Securities & Investment Commission (ASIC) in Australia and the Financial Conduct Authority (FCA) in the United Kingdom. Other trustworthy brokers include IG Group, CMC Markets and Interactive Brokers, all with trust scores above 90. As such, we believe this established reputation ensures protection of your funds and peace of mind, as there are many less reputable online brokers out there.

What is the best forex broker for US traders?

forex broker list

It has a couple of top-tier licenses and maintains excellent execution standards. The broker has a ‘best execution policy’, publishes regular execution quality statements, and achieves an average execution speed of under 40 milliseconds. Based on our hands-on analysis, we’ve identified 14 best options tailored to various trading needs. All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Which forex broker has the best trading platform?

OANDA is the most trusted forex broker licensed by the NFA to accept American clients. We also appreciate its excellent in-house trading platform, selection of currency pairs to trade and competitive trading https://forexbroker-listing.com/ costs. The Standard and MetaTrader 4 accounts charge no commission or funding costs and offer a minimum spread of 1.2 pip. MetaTrader 4 accounts have access to the MetaTrader 4 trading platform.

Which regulated broker is best suited for professional traders?

So if you want to trade micro-lots or mini-lots, you’ll be paying $2 at each entry and exit ($4 per round-turn), making it expensive. However, if you trade one lot or more, then they provide one of the lowest fees, so you should take advantage of this. If you have just started trading the forex markets, then you would benefit from IG Academy. This free service from IG provides 11 courses on the basics of trading the markets, ranging from trading psychology to placing your first order and using risk management. Another feature We like is FOREX.com’s collection of trading platforms and tools, which includes TradingView, Advanced Charting, SMART Signals and personalized performance analytics.

  1. There has never been a consideration of cybersecurity as a basis for choosing a broker, but the world we live in is a different place from many years ago.
  2. This analysis, combined with my personal trading experience, has led to the findings and research presented below.
  3. Being an NFA member means that the FX broker meets the strict regulatory framework to ensure a safe trading environment for you.
  4. Consequently, awareness of these risks is crucial for effective management.
  5. Mobile forex trading is more popular than ever, and many of the best international forex brokers offer multiple mobile apps and well-designed mobile trading platforms.

forex broker list

For Australians, you should check the Australian Securities & Investment Commission’s (ASIC, based in Sydney) website; for the United Kingdom, you should check the Financial Conduct Authority. IC Markets also delivered low spreads based on our testing, conducted by our chief of technology, Ross Collins. The broker average spreads of 1.03 pips (lowest) for its Standard account and 0.32 pips (third-lowest) for its RAW account. As such, No-dealing desk brokers, sometimes referred to as straight-through processing (STP) brokers, offer variable spreads, give no re-quotes, and put orders through instantly.

I’ve tested dozens of the best forex and CFD brokers and compiled a list of the best MetaTrader 4 brokers. Our top pick for MetaTrader in 2024 is IC Markets, which offers the full MetaTrader suite alongside competitive pricing, add-on trading tools, and quality market research. Once you’ve chosen a forex broker, simply open and fund a brokerage account and then download the MetaTrader 4 software directly from your broker to start trading forex and CFDs. Most brokers also offer demo accounts that allow you to practice trading with virtual funds before graduating to live trading with real money. The majority of the losing traders (if not all) are traders who are uneducated about the market and who do not understand how to trade profitably. No broker wants to spend money acquiring clients, only to have them quit their platforms in 90 days.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Now that you’ve seen our picks for the best forex brokers for MetaTrader, check out the ForexBrokers.com Overall Rankings. We’ve evaluated over 60 forex brokers, using a testing methodology that’s based on 100+ data-driven variables and thousands of data points. Do you trade with brokers that provide direct market access to the interbank market, or do you trade within the dealing desk environment?

Always choose MetaTrader brokers that are highly regulated in reputable jurisdictions. Even brokers that are not outright scams can use questionable dealing practices within the MetaTrader platform – such as providing poor execution and causing asymmetrical slippage. Using data from our forex broker comparison tool, here’s a comparison of the MetaTrader platforms offered by the best MT4 brokers. Having used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for more than a decade, I wanted to create a comprehensive guide for traders. In this guide, I will break down the best brokers for MetaTrader 4, MT4’s differences with MetaTrader 5, and answer the most common questions about the trading platform. Regulation also ensures that level trading conditions are provided for all traders and that the brokers fulfill their responsibilities to their clients.

IQ Option claims almost 50 million traders, making it the broker with the most users, followed by eToro with nearly 25 million, but no independently verified data is available. Traders should not focus on the size of the broker but focus on the quality of the trading environment. Technical indicators such as chart patterns and price fluctuations aid in forecasting future market action, making it essential for investors to leverage this invaluable tool while engaging with forex markets. In addition, Pepperstone provides cutting-edge trading tools and comprehensive research, analysis and educational material.

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. It is wise to steer clear of brokers that aren’t regulated by a reputable authority, as there is no legal recourse if they take your capital and handle your funds fraudulently. Also, beware of brokers that promise high returns and that trading is easy.

Forex.com also gives traders access to more than 80 currency pairs, and its success with clients has the broker declaring that it’s the No. 1 forex broker in the U.S., in terms of assets held with the broker. You’ll get access to the broker’s forex broker listing own trading platform in web and mobile versions, or use MetaTrader platforms if you prefer. Regardless of your trading budget, you’ll need to choose a dependable method for depositing and withdrawing funds for your forex account.

We strive to be as objective as possible, which is why our rigorous examinations are devoid of any personal bias as much as possible. We review the licenses of all the subsidiaries of a broker and check the fine print in the Client Agreement. The reliability of a broker is further determined based on the regulation, fees, and general transparency of the website.

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