The 5 Best Forex Brokers

For sure you are looking for the best forex trading platform to start trading. In this page about forex trading, you can find a list of trustable and regulated forex brokers and choose the best trading platform to trade with.

There is a vast range of offers in the market, and either you are an expert trader or new in this world, the most important thing is to find the top forex broker to achieve your goals!

All the forex brokers listed in this page are regulated and perfect for beginners.

Trading PlatformRatingMinimum DepositDemo AccountStart Trading
plus500 $100 TRADE NOW *CFD Service. 80.6% lose money
Plus500 review
bdswiss $200 TRADE NOW *Your capital is at risk
BDSwiss review
iqoption $10 TRADE NOW *Your capital is at risk
IQ Option review

‘CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.’

Here you are! You need to read this if you are a beginner!

We will explain you the most important characteristics the best forex trading platform should have when you need to choose yours!

Best Forex Brokers

This is a breakdown of the best foreign exchange brokerage for you.

  • Plus500

Plus500 is the top Broker for every type of trader. It has a simple and intuitive platform, 100+ different assets and the best trading App in the market. Thanks to its regulations by Cysec and in the UK it’s also considered the safest broker to invest with.

  • BDSwiss

bdswiss broker

BDSwiss has the best offer for the ones who are looking to trade professionally. No commission in the trades and very low spreads (1,2 pips for major currencies) brought this platform at the top of the investing market. Its new mobile App and trading interface developed in August 2018 gave a nice and modern interface which is much appreciated by all the traders.

  • IQ Option

iqoption best broker

IQ Option is the top platform for beginners. The broker wants to become the leader in the fx market and it is the most used around the world. thanks to its extremely low minimum deposit of just $10, it allows everybody to start their trading career.

On top of that, the offer of a demo account with $10.000 and a well-working mobile App, allows everybody to learn to trade.

To learn more about this broker click here.

  • EToro

etoro best brokerIn this list, we add also EToro. This is the top fx brokerage for traders who like to interact, exchange ideas and copy more expert investors.

Its offers of social trading and copy trading are unique in the market.

  •, the best trading platform for U.S. Traders. In fact, this is the only listed broker accepting American Traders. It has a very professional interface, low spreads, and no commission.

To learn more about this broker please read our review on the website.

How to chose the best forex trading platform

forex websites

First of all, we need to clarify that forex broker and trading platform mean the same thing!

Today there are an infinitive number of trading platform offers and hundreds of different broker to choose from as we have explained in the homepage:

But which one is the best forex platform? What should I look for?

There are a few characteristics that every forex trader should look for before choosing his trading platform. Here the most important ones:

  1. Availability in your Country
  2. Regulation
  3. Languages available
  4. Responsive Trading Platform
  5. Support Service
  6. Deposit and Withdrawl methods
  7. Spread and Commissions

Let´s analyse each one of them to see what it means!

1- Does this broker accept people from my Country?

best us trading platform

This is the first and most important step when deciding a Broker. In fact a lot of them are base in Europe or just accept european clients, some instead are just for american forex traders.

This fact can be linked to different governament decisions. In fact every country or better every continent usually has a different regulation model for online trading.

Normally american forex traders can just trade on american forex intitutes.

If a person from the States opens an account in the wrong broker, nothing happen. The account will be simply freezed on the beginning and the user won´t even have the opportunity to do a deposit.

In case this happens, it´s very easy and fast to open a new account in a U.S. Broker and start trading with that.

2- Regulation

forex regulation

This is the most important thing to look for: its regulation.

A lot of people in the internet are asking if forex trading is a scam. This depends on the trading platform the trader picks.

In fact the big difference in this market is between regulated and not regulated brokers.

The most important regulation in U.S. is the CFTC one.

This means that american and canadian traders should register just to one of those brokers.

For the rest of the world instead, if a broker has the Cysec regulation can accept forex clients from everywhere except U.S. This means that for example even a trader from New Zealand can open an account with a Cysec regulated broker.

Remember to choose just a regulated broker which has got its licence from one or more international authorities. For example the most trustable brokers have the Cysec regulation, but some of the most important ones are also:

  • Australia: Australian Securities and Investments Commission;
  • Canada: Investment Industry Regulatory Organization of Canada (IIROC);
  • Cyprus: Cyprus Securities and Exchange Commission (Cysec);
  • Germany: Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin);
  • Ireland: Central Bank of Ireland(CBI);
  • New Zealand: Financial Markets Authority;
  • Spain: Comisión Nacional del Mercado de Valores (CNMV);
  • South Africa: Financial Services Board (FSB);
  • Sweden: Finansinspektionen (FI);
  • Switzerland: FINMA;
  • U.K.: Financial Conduct Authority (FCA);
  • U.S.A.: U.S. Commodity Futures Trading Commission (CFTC).

3- Trading Platform Languages

forex websites language

In the past when the first trading platforms were invented, there was just one language available: english. Today also this market started to enter in the multi-linguistic era and the majority of the Brokers have almost all the languages available.

Today, on top of all the european languages, also russian and a lot of asian languages are available.

Make sure to start trading with a trading platform in your language to be able to fully understand all the platform feutures and indicator ususful for your trading activity. In fact, to be be considered the top trading platform, a broker should have as many languages as possible available.

4- Responsive Trading Platform

forex websites

How would you feel trading with a slow platform or not available for you all the time?

This could be a problem!

Most of the brokers offer a tool called Metatrader 4 for users to trade, some other have their own platform. In both cases the important caratheristics the platform should have are: high speed and be very responsive. 

In 2018, another important factor to look at when choosing a broker is their App. 

Every day people spend more time in their smartphone using Apps than in front of a computer. With the today frenetic lifestyle, being able to trade with an App makes things easier.

In this case people have the opportunity to trade in every moment of the day and keep constatly an eye on their own investments.

Usually a broker to be considered the best trading platform should have all the devices available and a well-working App.

5- Support Service

forex support

This is a very important service every trading platform must have.

In fact the main way to comunicate with the broker in case of problems or questions is the support service.

Every trading platform have a support team behind it available 24/7 ready to solve all your problems. Usually they are very responsive and within few minutes you will have the answers you need.

There are different ways to comunicate with them: by email, with a phone and even with a live chat service.

The language is also a very important caratheristic, but as explain in the previous chapter, today all the brokers have a lot of languages available so this won´t be a problem.

6- Deposit and Withdraws methods

deposit withdraw

To start trading, a fundamental step is to make a deposit.

Today there are different ways to do it: credit cards is the most common and fastest one and the money will be in you account in a few minutes.

There is also the possibility to do a bank wire transfer, normally it takes 4 working days before the money is in your trading account.

For some countries, there are available their own deposit systems.

A very important step that this market has done is to allow also deposits with a prepaid card, paypal accounts and moneybookers such as Skrill and Neteller.

The same story is for withdraws. Also in this case it’s possible to receive the money back in a credit card, prepaid card, moneybooker or bank account. The important thing is to comunicate it to the broker.

Normally to receive the money it takes 4 working days for most of the forex platforms. Some of them charge a very small commission for every withdraw, but this depends on the trading platform you choose.

7- Spread and Commissions

spread trading platform

This is a very important point for every trader because these represent the cost to pay for trading in a broker.

Every broker has different ways to charge its clients for their trading activity: spread or commissions.

The spread is the most common one. This represents the difference between the real price of an asset in the market and the price of the same asset in the trading platform.

Let’s see an example: EUR/USD in the real world is now at 1.17000 and at the same time by the broker the price is 1.17010. The difference between the two is the spread. In our case, the broker has a spread of 0.00010 which is 1 pip.

Usually, every broker applies a spread for its clients which goes from 1 pip to maximum 3 pips.

There also broker with spread 0 in the market, which make their profit introducing a commission on every trade.

The commission usually can go from a few cents up to some dollars, depending also on how long the position is kept open. The longer it is, the most expensive it gets.

Beginners usually start trading on platforms with 0 commission and a low spread. The most expert traders go instead for the opposite scenario. In this case, the choice depends a lot on the trader’s goals and level of experience.

Where Can I Trade Cryptocurrency?

In the past year, cryptocurrency trading became very popular for many traders. Millions of people started trading Bitcoin, Ethereum or Litecoin, making some good profits.

But where can I trade Bitcoin?

In all the trading platforms listed in this website is possible to trade cryptocurrencies.

This means that if you are looking to trade Bitcoin, Ethereum, Litecoin, ripple or Dash, you can do it in every broker named above.

Trading cryptocurrency is like trading any other normal currency, commodity or index.

It’s good to remember that trading those assets through CFDs means that you don’t own any Bitcoin or other virtual Coin, but you are speculating on its value and earning money because of their price movements.

The 5 Best Forex Brokers late update: 2018-03-22T17:15:39+00:00 by Luke Robinson