Hotforex
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We recommend the following 30 Best NASDAQ100 Forex Brokers to trade the NASDAQ100 index, which is a trading system most commonly used in stock markets and is a key factor in portfolio diversification.
This trading system was founded over 3 decades ago and is the second-largest global stock exchange.
Most investors, banks and other institutions use the NASDAQ100 as a frame of reference to compare and analyses the data of other stock exchanges they may be trading on.
By trading the NASDAQ100, investors gain exposure to leading international companies like Microsoft, Google and Amazon – but these markets are extremely volatile and should be approached with caution and strategy.
How do you trade on NASDAQ100?
To trade on the NASDAQ100, you need to start by choosing one of the recommended brokers in this article, as your broker will be responsible for handling all the tedious daily administration tasks and ensuring your transactions and orders are secure and processed timeously.
The main sectors included in NASDAQ 100:
- Technology (53.48%)
- Consumer Services (24.63%)
- Health Care (11.10%)
- Consumer Goods (5.49%)
- Industrials (4.33%)
- Telecoms (0.97%)
The top 10 NASDAQ100 Companies:
- Apple (AAPL)
- Microsoft (MSFT)
- Amazon (AMZN)
- Facebook (FB)
- Alphabet (GOOG)
- Intel Corp (INTC)
- Cisco Systems (CSCO)
- Comcast (CMCSA)
- PepsiCo (PEP)
- Adobe (ADBE)
AvaTrade
AvaTrade is an award-winning Forex broker with many global regulations, including ASIC, FSA and FRSA, and is trusted by more than 300,000 clients worldwide.
The products offered by AvaTrade include Stocks, ETFs, Crypto, Indices, Commodities, Bonds and Forex, and there are 4 accounts to choose from.
AvaTrade offers Islamic and demo accounts, along with a great selection of educational resources for inexperienced traders.
Pros and Cons of AvaTrade:
| ✔️Pros | ❌Cons |
| Easy account creation | No US clients |
| Deposits and withdrawals at no cost | Inactivity fees after 3 months |
| Suitable for beginners | |
| Good regulations |
Capital.com
Capital.com is regulated by 3 trusted entities, namely FCA, ASIC and CySEC, and is audited by a leading company known as Deloitte.
More than 1.8 million people use Capital.com and this broker offers 3 accounts and over 4,000 instruments for trading.
Educational resources are provided to assist new traders on their trading journey and 5 base currencies are supported when funding Capital.com accounts.
Pros and Cons of Capital.com:
| ✔️Pros | ❌Cons |
| Low fees on Forex and Stock CFDs | Low maximum leverage |
| Demo account offered | No bonus offerings |
| Customer support is reliable | No Islamic accounts |
| Withdrawals are free |
eToro
eToro was founded more than 1 decade ago and is a great option for Copy traders, Social traders and beginners.
eToro can be funded using EUR, RUB, CNY, CAD, USD, JPY, AUD and GBP, and accommodates for retail and professional clients respectively.
Unfortunately, there are no promotional offers at eToro, but demo accounts and educational content is provided and clients can choose to change to Islamic accounts if they are of the Muslim faith.
Pros and Cons of eToro:
| ✔️Pros | ❌Cons |
| Many base currencies | No MetaTrader functionality |
| Supports Social trading | High Forex fees |
| Flexible leverage | Withdrawal fee of $5 |
| Free stock and ETF trading in EU |
Vantage FX
Vantage FX is regulated by ASIC, CIMA, FCA, and facilitates many styles of trading, including Social trading.
Vantage FX offers 2 accounts that can be funded using USD, CAD, GBP, JPY, NZD, HKD, AUD, SGD and EUR, and is a suitable broker for beginners.
Vantage FX can be used with many popular platforms, such as ZuluTrade, Protrader, MyFxBook DupliTrade, Metaquotes, as well as MetaTrader 4 and 5 and then Vantage FX proprietary platform.
Pros and Cons of Vantage FX:
| ✔️Pros | ❌Cons |
| 9 base currencies supported | High minimum deposit |
| Flexible accounts offered | |
| Bonus offers |
easyMarkets
easyMarkets has been around since 2001 and is regulated by CySEC, FSA ASIC.
This broker has more than 100,000 clients internationally and accounts can be funded using several currencies, including SEK, PLN, USD, CHF, SGD, CNY, ZAR, BTC, GBP, CZK, TRY, JPY, HKD, EUR, NOK, CAD, NZD, MXN and AUD.
This broker caters to inexperienced traders by providing a great range of tools and educational resources to get them started, along with an easy-to-use demo account to practice on.
Pros and Cons of easyMarkets:
| ✔️Pros | ❌Cons |
| 19 funding currencies | Not available in US |
| Fixed spreads offeres | |
| Negative Balance Protection |
Alpari International
Alpari charges a minimum deposit of $100 and 4 account types that can be funded using GBP, NGN, USD and EUR.
This broker has more than 2 million clients and accommodates beginners and clients of the Muslim faith by providing demo accounts and Islamic accounts.
Alpari also offers promotional bonuses and is compatible with MetaTrader 4 and 5.
Pros and Cons of Alpari:
| ✔️Pros | ❌Cons |
| Referral program | Only 4 base currencies |
| Suitable for beginners | Limited variety of products |
| Flexible accounts | Not available in Japan, Russia and USA |
| High maximum leverage |
Admirals (Admiral Markets)
Admirals, previously known as Admiral Markets, is regulated by ASIC, EFSA, CySEC and FCA, and offers5 account types that can be used to trade Forex, Indices, Bonds, ETFs, Stocks and Commodities.
Accounts can be funded using CHF, CZK, HRK, EUR, RON, GBP, PLN, BGN, HUF and USD, and are compatible with the MetaTrader platforms.
This is a beginner-friendly Forex broker that provides useful tools and data for educational purposes, as well as guides on trading strategies and risk management.
Pros and Cons of Admiral Markets:
| ✔️Pros | ❌Cons |
| Low minimum deposit | Availability of Cash rebates depends on region |
| 10 base currencies | Penalty fees |
| Negative balance protection | |
| Works with MetaTrader |
Trading212
Trading212 is based in the United Kingdom and is regulated by CySEC, FSC and CA.
Trading212 offers over 2,500 CFDs and more than 10,000 stocks, as well as 2 trading accounts with low minimum deposits.
Despite not offering promotional bonuses or Islamic accounts, Trading212 is used by more than 1 million people and offers its own proprietary trading platform with 24/7 customer support.
Pros and Cons of Trading212:
| ✔️Pros | ❌Cons |
| 180 Forex pairs | 3 base currencies |
| Commission-free trading | No US clients |
| Negative balance protection | |
| Many stocks to choose from |
FXTM
FXTM has more than 2 million clients and is regulated by top-tier entities, such as FCA and CySEC.
FXTM has been around for more than a decade and offers 3 account types with tight spreads and commission-free trading conditions.
FXTM is available in many countries and is suitable for copy trading, offering more than 5,000 strategies that can be used by clients.
FXTM offers its own platform but also supports the MetaTrader platforms and tools.
Pros and Cons of FXTM:
| ✔️Pros | ❌Cons |
| Tight spreads | 4 base currencies |
| Promotional offers | Penalty fees |
| Low minimum deposit |
CMC Markets
CMC Markets offers 3 account types that can be funded using a variety of base currencies, including CAD, SGD, PLN, USD, EUR, AUS, NZD, GBP, NOK and SEK.
Although CMC Markets is only regulated by the FCA, it is trusted by more than 300,000 traders and guarantees negative balance protection and tight spreads to clients.
All accounts at CMC Markets offer cash rebates and a great selection of educational resources are provided for beginners.
Pros and Cons of CMC Markets:
| ✔️Pros | ❌Cons |
| More than 300 Forex pairs | No bonus offers |
| No minimum deposit | Penalty fees |
| 10 base currencies |
FP Markets
FP Markets offers a beginner-friendly trading environment with low latency and tight spreads, and accounts can be funded using NZD, CAD, CHF, EUR, AUD, USD, HKD, SGD, JPY and GBP.
FP Markets provides a variety of research tools and educational resources and offers more than 10,000 instruments in Indices, Forex, Metals, Commodities and Shares.
FP Markets is an ASIC- and CySEC-regulated broker that offers a proprietary trading platform, as well as functionality with MetaTrader 4 and 5.
Pros and Cons of FP Markets:
| ✔️Pros | ❌Cons |
| 10 Base currencies supported | Withdrawal fees |
| Great product offering | No fixed spreads |
| Commission-free account |
City Index
City Index has over 300,000 clients and is a multi-regulated broker that is a subsidiary of StoneX Financial Ltd. and GAIN Capital Holdings Inc.
The City Index account can be funded using CHF, HUF, AUD, EUR, PLN, JPY, GBP and USD, and can be used to trade 7 types of assets, with a total of over 12,000 instruments.
The tools offered by City Index include SMART signals, strategy tools, performance analytics and much more, and beginners have access to a variety of courses, guides and webinars.
Pros and Cons of City Index:
| ✔️Pros | ❌Cons |
| Listed on NASDAQ | Penalty fees for inactivity |
| 8 base currencies | Stock CFD fees are high |
| Low minimum deposit | Low maximum leverage |
| Bonus offerings |
Fidelity
Fidelity was established in 1946 and is a popular choice for professional investors, particularly in the United States.
Fidelity does not offer Islamic accounts, but demo accounts are provided and there is a total of 24 accounts across 8 categories to choose from.
Fidelity delivers comprehensive financial services and products and has developed an innovative proprietary trading platform with a variety of advanced trading tools and research data.
Pros and Cons of Fidelity:
| ✔️Pros | ❌Cons |
| Great product offering | No Islamic account |
| 16 funding currencies | Only 2 regulations |
| Commission-free trading | No crypto or CFD trading |
| Well-established broker |
XM
XM is available to 196 countries and offers 24/5 customer support in many languages.
XM offers over 1,000 instruments and accounts can be funded using PLN, HUF, GBP, RUB, USD, EUR, CHF, AUD and JPY.
XM is regulated by IFSC, ASIC, ESMA, DFSA, FCA and CySEC, which makes it a highly credible broker.
Pros and Cons of XM:
| ✔️Pros | ❌Cons |
| 9 base currencies | Fixed spreads not offered |
| Low minimum deposit | Not available to US clients |
| Negative Balance Protection | |
| Many regulations |
GO Markets
GO Markets is a regulated broker that was founded in 2006 and offers 2 accounts that can be funded using CAD, HKD, NZD, CHF, GBP, SGD, AUD, USD and EUR.
Customer support is available 24/5 and a demo account with educational resources, such as tutorials, guides and courses, are provided for beginners.
GO Markets is compatible with the MetaTrader platforms and also allows the use of MetaTrader Genesis, Trading Central and Autochartist.
Pros and Cons of GO Markets:
| ✔️Pros | ❌Cons |
| 9 base currencies | No Islamic account |
| Bonus offers | High minimum deposit |
| Free VPS |
Exness
Exness is a highly regulated broker with more than 100,000 clients and over a decade of industry experience.
Exness offers 5 accounts that can be funded with a low minimum deposit and 8 base currencies, including JPY, ZAR, CHF, AUD, NZD, SGD, EUR and USD.
Exness offers stocks in more than 80 leading companies and over 100 Forex pairs, as well as offering instruments in many other asset classes.
Exness offers unlimited leverage and can be used with the MetaTrader platforms.
Pros and Cons of Exness:
| ✔️Pros | ❌Cons |
| Highly regulated and trusted broker | No educational material |
| Many base currencies | Not beginner-friendly |
| Hedging and Scalping allowed | |
| Low minimum deposit |
SpreadEX
SpreadEX is based in the United Kingdom and was founded in 1999 as a broker for sports spread betting and stock trading.
Due to the lack of educational content on the website, we do not recommend SpreadEX to beginners or inexperienced traders.
However, if you are feeling confident in your trading skills, you could try the proprietary SpreadEX platform and trade over 10,000 instruments.
Pros and Cons of SpreadEX:
| ✔️Pros | ❌Cons |
| No minimum deposit required | No Islamic accounts |
| Proprietary platform | Limited educational content |
| Over 10,000 markets | 4 base currencies |
| Low trading fees | No demo accounts |
Saxo Bank
Saxo Bank is a credible online broker with more than 800,000 clients and accounts that accommodate retail, corporate and professional trading.
Accounts can be funded using AED, JPY, SEK, NZD, TRY, HUF, USD, GBP, RON, NOK, CZK, DKK, MYR, CNH, LTL, CAD, SGD, PLN, AUD, CHF, HKD, EUR, RUB, ILS, MXN and ZAR, and there are 3 accounts to choose from.
This is a beginner-friendly broker that provides a great selection of educational resources and its own innovative trading platform with a set of advanced tools and unique features.
The Saxo Bank loyalty system gives an improved level of utility to trading accounts and gives clients incentive to trade more.
Pros and Cons of Saxo Bank:
| ✔️Pros | ❌Cons |
| Many base currencies | High minimum deposit |
| Advanced research data and tools | Not compatible with MetaTrader platforms |
| Withdrawals are free | Penalty fees |
| VIP offering | No MetaTrader support |
TD Ameritrade
TD Ameritrade offers its own unique trading platform, known as thinkorswim, and also offers comprehensive financial products and services to its clients.
TD Ameritrade offers many different accounts and a variety of instruments, including Forex, Stocks, Futures, Crypto, Bonds, Options and ETFs.
Beginners can use the educational resources provided to learn more about the basics of trading and TD Ameritrade also offers special educational accounts for inexperienced traders.
Pros and Cons of TD Ameritrade:
| ✔️Pros | ❌Cons |
| Beginner-friendly | 1 base currency |
| Commission-free trading | No MetaTrader support |
| No minimum deposit required | |
| Intuitive trading platform |
HotForex
HotForex offers 5 accounts that can be funded using USD, USD, NGN and ZAR, and is regulated by FCA, FSCA, DFSA FSA.
HotForex is suitable for beginners and provides videos, courses and webinars for inexperienced traders.
HotForex clients benefit from its loyalty program and promotional bonus offerings, as well as a unique reward system where bars can be exchanged for credit bonuses, cash or trading services.
Pros and Cons of HotForex:
| ✔️Pros | ❌Cons |
| 5 account types | High trading fees |
| Low minimum deposit | Penalty fees |
| 18 unique trading tools | 4 base currencies |
| Negative Balance Protection |
Interactive Brokers
Interactive Brokers offers more than 7,000 instruments and accounts can be funded with no minimum deposit and using many different base currencies, with a total of 24 currencies supported.
Interactive Brokers supports more currencies for funding than most other brokers and is available in 33 countries.
Although Interactive Brokers does not support the MetaTrader platforms, a proprietary trading platform is provided, along with innovative tools for research, analysis and trade management.
Interactive Brokers offers a trading academy for beginners and its product offering covers many classes of assets.
Pros and Cons of Interactive Brokers:
| ✔️Pros | ❌Cons |
| Well regulated | No MetaTrader support |
| Suitable for beginners | Low maximum leverage |
| Supports API trading | No Islamic accounts |
| 24 base currencies supported |
RoboForex
RoboForex is a multi-asset broker that offers more than 12,000 instruments and 5 accounts with competitive trading conditions.
RoboForex has been around since 2009 and is available in 169 countries, with a total of more than 800,000 clients.
RoboForex is suitable for beginners and offers many different promotions, including contests, cash rebates and VIP offers.
Pros and Cons of RoboForex:
| ✔️Pros | ❌Cons |
| Compatible with MetaTrader | Lacking ASIC or FCA |
| Low minimum deposit | No USA clients |
| Bonus offers | |
| Negative Balance Protection | |
| Free VPS server |
IG
IG is a multi-regulated broker that operates under the guidelines and supervision of CFTC, FINMA, MAS, DIFC, JFSA, FCA and ASIC.
IG offers more than 17,000 instruments and accounts can be funded using HKD, EUR, SGD, GBP, USD and AUD.
IG allows the use of APIs and supports algorithmic trading, and premium accounts have personal account managers, 24/7 support and VIP offers.
IG is not only suitable for professional traders, but it also accommodates beginners and provides a demo account with educational resources.
Pros and Cons of IG:
| ✔️Pros | ❌Cons |
| 6 base currencies | High minimum deposit |
| Many regulations | No Islamic accounts |
| Low trading fees |
Plus500
Plus500 offers 2 accounts that can be funded using GBP, AUD, HUF, USD, SGD, PLN, JPY, NOK, SEK, TRY, CHF, EUR, CZK and CAD with a minimum deposit of $100.
Plus500 is well-regulated and is trusted by over 400,000 clients, with over a decade of industry experience.
Plus500 is a proud sponsor of 5 sports teams and caters to retail and professional traders, as well as beginners.
Pros and Cons of Plus500
| ✔️Pros | ❌Cons |
| 14 base currencies | No copy trading |
| Negative Balance Protection | Inactivity fees |
| Suitable for beginners | No bonus offers |
| Highly regulated |
Libertex
Libertex offers more than 250 instruments and is available in 110 countries.
This award-winning broker was founded in 1977 and provides one account that can be used with 3 trading platforms and funded using 4 base currencies.
Libertex provides a great range of trading tools, including trading signals, alerts, trading sentiments and more, and is suitable for inexperienced traders.
Pros and Cons of Libertex:
| ✔️Pros | ❌Cons |
| Available in 110 countries | No bonus offers |
| Negative Balance Protection | No Islamic account |
| Supports MetaTrader |
Pepperstone
Pepperstone has over 300,000 clients and is a beginner-friendly broker that is regulated by SCB, CySEC, FCA, ASIC, DFSA, BaFIN and CMA.
Pepperstone offers 2 accounts that can be funded using AUD, USD, SGD, HKD, JPY, NZD, EUR, CHF and GBP, and social trading is supported.
Pepperstone provides a variety of SMART trading tools and allows the use of Autochartist, Figaro and more.
Pros and Cons of Pepperstone:
| ✔️Pros | ❌Cons |
| 9 base currencies | Only one account |
| Many regulations | High minimum deposit |
| Bonus offers | |
| No inactivity fee |
OctaFX
More than 6 million accounts have been opened with OctaFX since it was founded in 2011, and a total of 3 accounts are offered that can be funded using either EUR or USD.
A minimum deposit of $100 is required to activate a live account with OctaFX and demo accounts and Islamic accounts are provided.
OctaFX is a suitable broker for beginners and supports copy trading, scalping and hedging, and also allows the use of Expert Advisors.
Pros and Cons of OctaFx:
| ✔️Pros | ❌Cons |
| Low minimum deposit | Limited products |
| Low spreads | Only 2 base currencies |
| CopyTrading allowed | |
| Bonus offers |
Forex.com
Forex.com accounts that can be funded using USD, JPY, CHF, EUR, GBP and AUD, and there is a total of 3 account types that are compatible with the MetaTrader platforms.
This is a great option for beginners and high-volume traders and a low minimum deposit of only $50 is required to activate a live account with Forex.com.
Pros and Cons of Forex.com:
| ✔️Pros | ❌Cons |
| Cash rebates | Low maximum leverage |
| 6 base currencies | Inactivity fees |
| Supports MetaTrader |
Conclusion
NASDAQ100 consists of some of the most volatile global markets, but this creates exciting investment opportunities, as most big international companies are listed on the NASDAQ index.
NASDAQ does not only offer a way for traders to invest in major companies, but it also gives those companies a means of generating income from investors.
It is possible to trade on NASDAQ without a broker, but it is not recommended because of all the paperwork and complexities.
To simplify the process of trading on NASDAQ and to increase your chances of success, you should choose one of the 30 Best NASDAQ100 Forex Brokers.
