15 Most Regulated Forex Brokers 

The Foreign Exchange market is not regulated by a centralized authority, but international regulatory bodies have been established to govern the practices of Forex brokers globally, and the following 15 Most Regulated Forex Brokers ensure that all broker-facilitated trading will be legal and safe.

 

Exness

Exness was founded in 2008 as a Russian Brokerage and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA) and the Financial Services Authority (FSA) of Seychelles. 

More than 80,000 traders are active on Exness, with 15,000 new accounts created every month and $180 billion in monthly turnover.

Exness offers over 207 tradable instruments, including Crypto, Stocks, Indices and 107 Forex pairs to choose from. 

 

Exness Features

• Low spreads
• CopyTrading features
• Regulated and transparent broker
• No minimum deposit on Standard Accounts
• Maximum leverage of 1:2000

 

Exness Pros and Cons

✔️Pros	❌Cons
Multilingual website and customer support	Penalty fees for inactivity
Tight spreads	Withdrawals fees
107 currency pairs to choose from	Not accessible by US citizens
Compatible with MetaTrader

 

Plus500

Plus500 is an Australian-based forex broker that was founded in 2008 and is regulated by the UK’s Financial Conduct Authority (FCA)and the Australian Securities and Investments Commission (ASIC).

Plus500 offers more than 2,000 tradable instruments in a wide range of financial markets, with tight spreads and no commission fees.

The Plus500 web platform provides access to advanced trading tools, along with risk management functionality and a trading guide.

 

Plus500 Features

• Over 2,000 instruments to choose from
• Negative Balance Protection offered
• Stop Losses, Stop Limits, Trailing Stops and Guaranteed Stops
• Emails and push notifications for market events are free
• Alerts on price movements, change percentages and trader’s sentiments
• Tight spreads with no commissions

 

Plus500 Pros and Cons

✔️Pros	❌Cons
Platform is user-friendly	Penalty fee for inactivity
Withdrawals are free	Research tools are limited
Trading fees are low	Educational resources are lacking
Well-regulated broker	Narrow product offering
Pricing is competitive	No compatibility with trading platforms
Minimum deposit is low

 

Alpari

Alpari is based in Mauritius and was relaunched in 2014 after being established in 1998. It is regulated by the Financial Services Commission (FSC) of the Republic of Mauritius, with over 1.3 trillion USD turnover per annum.

Alpari offers access to more than 250 financial markets and its instrument portfolio includes Indices, Metals, Forex, Cryptocurrencies and Stocks.

The Alpari platform is compatible with MetaTrader 4 and 5. A wide range of educational content and advanced trading tools are provided, and traders can use demo accounts.

 

Alpari Features

• Regulated by an offshore industry centre (FSC Mauritius)
• Maximum leverage of 1:1000
• Over 60 currency pairs to choose from
• Traders can choose between ECN and Market-Maker execution models

 

Alpari Pros and Cons

✔️Pros	❌Cons
Flexible accounts offered	Educational resources may be lacking
Minimum deposit is low	Limited selection of tools
Popular CopyTrading broker	Fees are high
Great selection of tradable instruments	Withdrawals are not free
Multilingual customer support
Demo-accounts offered
Social Trading platform

 

AvaTrade

AvaTrade has been operational since 2006 and is based in Ireland as a Forex broker that is regulated by FSCA, FRSA and ASIC.

AvaTrade’s product offering includes more than 250 instruments and traders can diversify their portfolios with Indices, Bonds, Commodities, Shares, ETFs, Crypto and over 60 Forex pairs.

AvaTrade has more than 10 offices internationally and has received multiple rewards since launching.

 

AvaTrade Features

• Compatibility with MetaTrader4 and 5 platforms
• Proprietary AvaTradeGO platform available on mobile, desktop and web 
• More than 20 languages supported on trading websites
• Trading platforms are compatible with EA
• Client’s funds are secured in segregated accounts

 

Avatrade Pros and Cons

✔️Pros	❌Cons
Easy to sign up with fast registration	Research tools are limited
Excellent educational resources	Telephonic support is unreliable
Withdrawals are free	Administration fees applicable
Highly regulated	Penalty fees for inactivity
Low trading fees	Only CFDs, Crypto and Forex offered

 

FXTM

FXTM is regulated by the FCA of the UK, and the FSCA of South Africa, with more than 2 million clients globally.

FXTM offers tight spreads to traders and the product offering includes Currency pairs, Spot metals, Stock CFDs, CFD Commodities and stock trading.

A comprehensive educational library is provided by FXTM, containing e-Books, trading guides, video tutorials, webinars and articles.

 

FXTM Features

• An abundance of educational resources
• Fees on stock index CFDs are low
• Tight spreads with 0.1 pips on Standard accounts and 0 pips on ECN accounts
• Hedging allowed
• Accounts are easy to open 

 

FXTM Pros and Cons

✔️Pros	❌Cons
Minimum deposit is low	Withdrawals are not free
Positive reviews on customer service	Penalty fees for inactivity
Opening an account is quick and hassle-free	CFD fees are high
Highly regulated
Low Forex fees

 

Tickmill

Tickmill was founded in 2012 by a team of Forex traders who wanted to revolutionize the online trading environment. It is based in London and Seychelles, and regulated by the Financial Services Authority of Seychelles.

Tickmill’s product offering includes Forex, Stock Indices, Precious Metals and Bonds. Three types of unique trading accounts are offered, along with Islamic accounts and demo accounts.

Payment options are flexible with Tickmill and trading can be done using MetaTrader4 and WebTrader.

 

Tickmill Features

• Multiple account types to choose from
• Availability of advanced trading tools, such as Autochartists 
• Supports CopyTrading
• Great selection of trading instruments
• One-click trading
• VPS broker

 

Tickmill Pros and Cons

✔️Pros	❌Cons
Reliable customer service team	Limited product offering
Great selection of tradable instruments	Newsfeed is not comprehensive
Account registration is easy	Not many base currencies supported
Extremely low commission fees
Variety of payment options
Withdrawals and deposits are free

 

FP Markets

FP Markets was founded in 2005 as an Australian CFD and Forex broker. It is regulated by ASIC and CySEC.

FP Markets is compatible with MetaTrader 4 and 5, and tradable instruments include Forex, Shares, Metals, Commodities and Indices.

The multilingual customer support team at FP Markets is available 24/5, and a variety of educational material is provided in multiple languages.

 

FP Markets Features

• Beginners can train using demo accounts
• 50+ currency pairs to choose from
• Can be used with MetaTrader

 

FP Markets Pros and Cons

✔️Pros	❌Cons
Opening an account is fast and easy	No Crypto trading
Trading fees are low	CFD fees are high
High-speed trade execution	Minimum deposit is high
Low-cost Forex fees	International bank withdrawals are pricey
Great selection of platforms and trading tools

 

GO Markets

GO Markets is an Australian-based CFD broker that was founded in 2006. It is regulated by the Financial Services Commission (FSC) of Mauritius, and it operates as a licensed Discount Broker and Investment Dealer.

Go Markets offers more than 350 tradeable CFD assets and its product offering includes Forex, Metals, Commodities, Share CFDs and Indices.

Spreads at GO Markets start from 0.0 pips and it provides three types of accounts that can be used with MetaTrader or WebTrader. 

 

Features of GO Markets

• FSC-regulated broker
• Negative balance protection offered
• Client base of more than 10,000 active traders
• Hedging Allowed
• Scalping allowed
• STP offered

 

GO Markets Pros and Cons

✔️Pros	❌Cons
Trade executions are exceptionally fast	Not available in the US
Advanced technology used	Product offering is limited
Innovative trading and research tools	Many countries do not have access
Compliant with regulations

 

XM

XM is an award-winning CFD Forex broker that was launched in 2017. Since its inception, it has accumulated a client base of more than 70,000 traders.

XM is compliant with the regulations of the International Financial Services Commission (IFSC), the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).

The product offering at XM includes more than 1,000 tradeable CFD assets, including over 55 Forex currency pairs.

 

Features of XM

• Hedging allowed
• Scalping allowed
• Minimum deposit is low
• Negative balance protection offered
• Client base of more than 70,000 traders

 

XM Pros and Cons

✔️Pros	❌Cons
Compatible with 16 platforms	Penalty fee for inactivity
Low spreads starting at 0.6 pips	Forex trading fees are average
Highly regulated broker
Comprehensive educational content
No withdrawal fees

 

HFM (HotForex)

HFM was founded in 2010 and it is based in Cyprus, with several offices internationally.

HFM is compliant with the regulations of the Financial Sector Conduct Authority (FSCA) in South Africa and it is an authorized Financial Services Provider.

HFM’s product offering includes more than 1,000 tradable assets in Forex, Metals, Energies, Indices, Shares, Commodities, Crypto, Bonds, Stocks and ETFs.

Not only are the account types flexible at HFM, but trades can also be made using 11 platforms with 6 methods of funding to choose from.

 

Features of HotForex

• Maximum leverage of 1:1000
• Regulated by ASIC, FCA, DFSA, FSCA, CySEC and FSA
• Negative balance protection offered
• Innovative technology used
• Offers premium MetaTrader tools
• Award-winning broker

 

HotForex Pros and Cons

✔️Pros	❌Cons
Account creation is quick and easy	Two entities are unregulated
Minimum deposit is low	No Social Trading
Commission-free accounts offered
Highly regulated
Incredible product offering

IC Markets

IC Markets is an Australian ECN brokerage that was founded in 2007 by a team of financial experts. It is regulated by CySEC and ASIC. Clients are promised high cybersecurity and safety of funds.

The tradable instruments at IC Markets include 61 Forex pairs, 25 Indices, 22 Commodities, over 730 Stocks, 11 Bonds and & 10 Cryptocurrencies.

IC Markets provides compatibility with MetaTrader 4 and 5 platforms, and they also offer trading with a variety of cTrader platforms.

 

Features of IC Markets

• Maximum leverage of 1:500
• Spreads from 0.0 pips
• Executions speeds under 40ms
• 500,000 trades made daily
• 180,000+ active traders

 

IC Markets Pros and Cons 

✔️Pros	❌Cons
Low spreads	Investor protection not guaranteed
Deposits and withdrawals are free	High fees on CFDs
Great product selection	International bank withdrawals are not free
Good Trustpilot rating
User-friendly website

 

IG 

IG is a well-established CFD brokerage that has been around for more than three decades. It is regulated by the Financial Conduct Authority (FCA) and listed on the Financial Times Stock Exchange (FTSE).

Products offered by IG include Crypto, Indices, Shares, Commodities, Shares and Forex in over 17,000 markets on CFD terms. 

Alternatively, clients can trade Direct Market Access (DMA) Forex with very low spreads and a variety of currency pairs.

 

Features of IG

• More than 17,000 markets to trade in
• Mobile app is well-developed with innovative tools
• Advanced charting tools, such as L2 Dealer, ProRealTime and MT4
• Competitive proprietary platform

 

IG Pros and Cons 

✔️Pros	❌Cons
Intuitive web trading platform	Product portfolio seems limited
Exceptional educational library	Telephonic support is unreliable
Flexible payment methods	Stock CFDs have high fees
No initial minimum deposit
Trust score of 99/100

 

FxPro

FxPro was founded in 2006 and operates under FxPro Group Limited, with more than 1,866,000 client accounts from 173 countries. It is regulated by FCA, CySEC and FSCA.

Approximately 7,000 orders are processed per second and trade executions speeds of 11.06ms have been recorded.

FxPro has received more than 80 rewards since its inception and has a 5-star customer service rating.

 

FxPro Features

• Compatibility with MetaTrader platforms
• No desk-dealing
• Expert Advisors (EA) with Virtual Private Servers (VPS)
• 24/7 customer support with good ratings
• Superior traded executions speeds
• Capital excess of $1 million GBP

 

FxPro Pros and Cons

✔️Pros	❌Cons
Great selection of tradable market instruments	Investors are not protected
Funds are secured in segregated accounts	Many countries cannot access the servers
Well-regulated broker
Flexible account types
Commission fees are very low

 

Pepperstone

Pepperstone is an award-winning Australian forex broker that was founded in 2010 and has grown into a leader in the industry.

Pepperstone facilitates trading for more than 57,000 traders and it is regulated by the FCA and the ASIC.

Tradable instruments offered include Forex, indices, Commodities, Shares and Currency Indices.

 

Pepperstone Features

• More than 150 tradable instruments
• Educational resources are exceptional
• VIP services and prices for premium clients
• Variety of trading platforms to use
• 50ms execution speed on orders
• Cash rebates when using the Active Trader program

 

Pepperstone Pros and Cons

✔️Pros	❌Cons
Trustpilot rating of 4.4/5	Holding positions overnight is expensive
Educational resources provided	Cannot be accessed by US citizens
No penalty fees for inactivity

 

eToro

eToro was launched in 2007 and has accumulated more than 10 million clients since its inception, providing trading solutions to 140 countries globally and having nearly 4 million trades opened in total.

eToro’s product offering includes Forex, Cryptocurrencies, Stocks, Commodities and Indices, and it is a CopyTrading-friendly brokerage.

Traders have access to educational material and can adapt quickly to the platform.

eToro is a CopyTrading platform for social investors and holds the loyalty of over 10 million clients globally.

 

eToro Features

• More than 10 million traders
• 15 crypto coins to trade with
• Stock and ETF trading is free for EU citizens
• Supports Social Trading and CopyTrading
• Advanced charting tools

 

eToro Pros and Cons

✔️Pros	❌Cons
Account creation is fast and easy	Withdrawals are costly and delayed
CFD fees are low	Forex trading fees are high
Deposits are free	Only one base currency supported
Efficient service and support
Minimum deposit is low

 

Conclusion

A regulated Forex broker discloses all essential information, takes extreme measures to secure client funds and accounts, and usually provides educational material to make sure that trades make informed decisions.

Traders who use one of the 15 Most Regulated Forex Brokers have additional protection when trading, by using Negative Balance protection and risk management tools to minimize losses. Regulated Forex brokers are expected to provide quality services to their clients and they are subject to compulsory annual audits for ultimate transparency. 

Good luck with your trading!

 

Disclaimer

Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.

The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.