Top Best Forex Brokers Details

Forex Broker Reviews

Not even legends in the caliber of a Larry Williams or a Martin Schwartz will have much luck in currency trading if the broker is unwilling to cooperate – it has an overwhelming role in determining what type of experience you will have as a forex trader. The lack of clear rules and precedents creates great opportunities, but also huge risks for the unprepared.
But aren’t there always two sides to a story? To help our visitors avoid the dark side of forex, we have carefully screened the best offers in the online brokerage business and prepared a selection of some of the most reputable and efficient brokers for your exclusive benefit. If you have any plans to explore the exciting world of currency trading, we are sure that you will find our list an invaluable guide in the crowded and sometimes shady world of the forex brokers. We recommend reading our listed brokers’ review pages for user reviews, e.g. Etoro or Plus500 review page.

The Top 10 Forex Brokers for Beginners

Trading with the right forex broker is critical to success in the international currency markets. As a currency investor, you may have specific platform, tool, or research needs that should be met. Understanding your investment style can help determine which FX broker may serve as the best forex broker for you.
Our team here at has assembled a quick guide to some of the top online forex brokers. In each individual FX broker summary, we highlight where each broker stands overall and against its competitors.
This review will surface the most important features and/or benefits of selecting one forex broker over another, including discounted commissions, differences in trading account requirements, available research tools and trading platforms, as well as the quality of customer support.

Best FX Brokers for Forex Trading

Here’s a breakdown of some of the best foreign exchange brokers available for online fx trading.

Saxo Bank logo Saxo Bank – 5 Stars

Saxo Bank finished 1st in our 2018 Annual Review of 43 brokers. Its competitive pricing, access to a wide range of markets, multiple regulatory licenses, and innovative trading platforms provide forex traders around the glove an all-around excellent offering.

IG logo IG – 5 Stars

Rated as our Most Trusted Broker of 2018, IG Received 5 Stars and second overall in our 2018 Review. IG also finished #1 for Offering of Investments (5 Stars) and Education (4.5 Stars). In total, IG placed Best in Class for seven of the eight review categories.

CMC Markets logo CMC Markets – 4.5 Stars

CMC Markets finished #1 for Commission & Fees as well as Active Trading and provides traders access to the most currency pairs of any fx broker. logo – 4.5 Stars earned 4.5 stars Overall and finished Best in Class in seven main categories. The firm’s parent company, GAIN Capital, remains one of the largest forex brokers in the United States and caters to global forex traders of all experience levels.

Interactive Brokers logo Interactive Brokers – 4.5 Stars

Ranked #1 for Professional traders, Interactive Brokers is known for its diverse offering of investments. Founded nearly 40 years ago, clients can trade on more than 120 market centers in 26 different countries, and deal in forex, CFDs, stocks, options, ETFs, futures, bonds, and more.

TD Ameritrade logo TD Ameritrade – 4.5 Stars

Available to US residents for forex trading, TD Ameritrade ranked #1 for Customer Service and Platform Technology in our 2018 Review. The broker’s thinkorswim platform provides one of the most powerful charting applications, offering nearly 400 technical indicators.

IG logo Dukascopy – 4.5 Stars

Dukascopy Bank boasts the most robust offering of desktop and mobile platforms, helping it finish #1 for Platform & Tools and #1 for Mobile Trading. Dukascopy also finished Best in Class for Commission & Fees, Research, Social Copy Trading, and Active Trading.

Choosing The Best Forex Brokerage

Here are some of the most important factors to keep in mind when choosing the best online forex brokerage for currency trading.

Best Brokers For Forex Trading Overall

These brokers combine reasonable costs with strong trading platforms and a large selection of currency pairs.
Commission: Both spread markup and commission ($50 per one million units)
Maximum leverage: 50:1
Account minimum: $0
Currency pairs: 70+
Minimum trade lot: None
Commission: Spread markup
Maximum leverage: 50:1
Account minimum: $50
Currency pairs: 80+
Minimum trade lot: 1,000
The best currency traders combine value with selection and high-quality tools, and OandA and hit all those notes. Each offers a wide range of currency pairs, low account minimum, the maximum legal leverage of 50:1 and low minimum trade lots. Both brokers offer spread markups, but OandA just recently moved to also offering commissions and at an attractive rate, $50 per million units. Each broker offers multiple trading platforms, including the popular MetaTrader 4. The brokers also offer Sunday-to-Friday customer support, with opening a few hours earlier on Sunday and staying a few hours later on Friday than OandA.
In many respects OandA and are evenly matched, but here are a few things that set them apart. Spreads are an important part of the cost equation for forex traders, so it’s important to keep those as narrow as possible. On this score, OandA consistently had the lowest spreads in our analysis, which compared forex brokers’ live spreads on the seven major currency pairs over the course of a week. Its recent addition of commission pricing should be more customer-friendly, too.’s spreads were not too far behind in second place, but even small spread differences add up for active traders. On its side, should appeal to active traders with its recently introduced cash rebate program, part of what has made the number one forex broker by client assets as of November 2017.

Best Brokers For Beginner Currency Traders

These brokers stand out for their educational resources and trader support.
If you’re just jumping into the forex market, you want a broker that can provide educational resources and customer support to get you started. has broad customer support, along with a wealth of videos, webinars and guides to help you learn the basics. But even though is listed as best for beginners, don’t think it’s not a high-calibre option for experts, too.
Most forex brokers offer 24-hour trader support five days a week, Sunday at 5 p.m. Eastern time through Friday at 5 p.m. Eastern. But gets started at Sunday 10 a.m. and runs through Friday midnight. Costs may be slightly higher here — exclusively uses spread markups that came out a bit wider than the competition in some of our tests. The company also charges accounts with one year of no trading activity or open positions a $15 monthly data fee; customers can opt to temporarily disable the account to avoid that fee. One note: is owned by GAIN Capital, which also provides services to Ally.
Ally also provides useful educational resources and support for beginners, and forex traders can piggyback on Ally’s reputation for customer service. Ally is a good pick if you’ve already got an account there and are looking to trade multiple products in a single place (stocks, options, currency and others), or would simply like to try your hand at currency trading. Ally uses a spread markup, and its spreads were consistently above those of and OandA. Ally functions as an introducing broker to GAIN Capital, which acts as the account holder and trade counterparty at Ally Invest, and so Ally likely must pass on an additional layer of costs, via a wider spread, to its own traders.

Best Forex Trading Platforms And Tools

TD Ameritrade offers a choice of high-quality trade platforms and advanced tools.
TD Ameritrade is hard to beat with its much-loved thinkorswim trading platform, which allows users to trade not just currency, but also a range of other investment products. The platform is professional-level, with advanced technical analysis capabilities and the ability to create custom forex pairs, and TD Ameritrade has an equally robust mobile app, Mobile Trader. Thinkorswim also offers up $200,000 of play money for practice with its paperMoney feature. One drawback: The platform is advanced enough that new traders can easily get overwhelmed.
In addition to all the other positives that made it one of our best overall picks, offers a number of platforms for traders, allowing users to choose the one they’re most comfortable with. In addition to offering MetaTrader 4, the broker also offers its flagship platform FOREXTrader, which is available in browser, desktop and mobile versions. also just added the Ninja Trader platform to its line-up as well as TradingView for users to chart currencies, provide technical analysis and develop a trading plan.

Best Brokers For Low-Cost Forex Trading

In our analysis, these brokers offered the most value.
The costs associated with forex trading can be hard to suss out, as we noted earlier. Low-volume traders can often save money with a broker that marks up its spreads but charges no commissions, as long as those markups are competitive. OandA publishes both live and historical spreads on its website, and came out the clear winner in our analysis for the lowest spreads on major pairs. While the company charges a monthly inactivity fee of $10, it only kicks in after a year of no activity, so it’s hardly a dealbreaker.
High-volume traders may benefit from a commission-only broker. On this count, ATC Brokers’ flat commission pricing looks like a clear winner. The company prices its commission round turn (in other words, for both sides, when you buy and sell) and charges $1.00 per 10,000 units. One caveat: Though the broker allows trades as small as 1,000 units, that $1.00 is a minimum commission.

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