28 Most Regulated Forex Brokers

If you are considering Forex trading, then choosing a Forex broker is the most important decision you need to make. To help you we have researched and compiled a list of 28 Most Regulated Forex Brokers to help you trade Forex safely.

The foreign exchange market is the largest and most popular financial market in the world, with daily transactions of more than $5tn. It has become an amazing way to earn profits for millions of traders around the globe.

Your Forex broker will carry out your trades and hold your money in an online account to facilitate your trading.

Make sure that you choose a Forex broker you can depend on and trust with your money so that you can make the largest possible returns from your investment.

There are many things to consider when choosing a broker, such as commission rates, spreads, historical performance and leverage options.

However, one of the most important aspects that you need to make sure of, is whether the broker is regulated or not.

Highly regulated Forex brokers are closely monitored and controlled by a local regulatory body whose goal is to prevent fraudulent activities and excessive risk in the market, while also increasing awareness to consumers.

Licensed and regulated Forex brokers perform all its trading activities in accordance with the policies, guidelines, and industrial standards up to standard according to the regulatory body.

Regulated Forex brokers are also subjected to regular audits from the supervisory authorities.

When a regulated broker fails to follow the guidelines and standards set by its regulator, then legal action can be taken by the agency, which can lead to invalidation of its license.

 

Plus500

Plus500

Plus500 offers 2000+ instruments and is regulated by several international financial authorities, including the Australian Securities and Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA).

Plus500 is an Australian based company that was founded in 2008 and offers a wide range of financial markets with relatively low spreads and no commissions.

Their platforms are known for the fact that is very easy to use and user-intuitive while providing good advanced tools.

 

Plus 500 Features

  • Offers access to over 2,000 trading instruments
  • Offers negative balance protection
  • Stop Limit, Stop Loss, Trailing Stop
  • Guaranteed Stop
  • Free email and push notifications on market events
  • Alerts on price movements, Change % & Traders’ Sentiments
  • Very low spreads and commissions

 

Plus500 Pros and Cons

✔️Pros ❌Cons
Easy to use platform Inactivity fee
No withdrawal fee Minimal research tools
Low trading fees Minimal educational resources
Highly regulated Limited product portfolio
Very competitive pricing Lack of platforms
Low min deposit

 

 

Alpari

Alpari

Alpari, established in 1998 and relaunched in 2014, is based in Mauritius and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius and can boast of more than 1.3 trillion dollars in trading turnover per year.

Their traders have access to more than 250 markets in Forex, Indices, Metals, Stocks and Cryptocurrencies.

Alpari offers both MetaTrader 4 and MetaTrader 5 platforms on Mobile, Web and Desktop formats.

Both beginner and experienced traders can use Alpari as they are suitable for both, especially with a demo account, a wide array of educational resources and excellent trading tools.

 

Alpari Features

  • Choice between ECN and market-maker execution models
  • Regulated by an offshore industry centre (FSC Mauritius)
  • Maximum leverage, 1000:1
  • Over 60 Forex currency pairs and crosses available for trading

 

Alpari Pros and Cons

✔️Pros ❌Cons
Demo Accounts and Social Trading Limited educational resources
Great copy trading broker Lack of resource tools
Diverse selection of tradeable assets High fees
Good support in over 30 languages Withdrawal fees
Low minimum deposit

 

AvaTrade

AvaTrade

AvaTrade is a Dublin based brokerage. The firm was founded in 2006 and has offices in Japan, Australia, Ireland, and the British Virgin Islands, with sales offices also in Paris, Milan, Madrid, Mongolia, Beijing, Nigeria, Santiago, and Johannesburg.

AvaTrade is a highly regulated brokerage firm and is regulated in Australia, Japan, Europe, the British Virgin Islands and South Africa.

AvaTrade offers 250+ instruments inclusive of major stock Indices, Cryptocurrencies, Commodities, Bonds, individual Shares, ETFs and more than 60 Currency pairs.

 

AvaTrade Features

  • MetaTrader 4, MetaTrader 5 and AvaTradeGO on desktop, web and mobile
  • Competitive spreads offering
  • Trading websites in more than 20 languages
  • EA compatibility with their automated trading platforms
  • Segregated accounts provided to clients for increased security

 

AvaTrade Pros and Cons

✔️Pros ❌Cons
Easy and fast account opening Limited research tools
Great educational tools Poor support telephonically
No withdrawal fee Administration fee
Free deposit and withdrawal options Inactivity fee
Low trading fees Offers only CFD’s, Forex and Cryptocurrencies

 

FXTM

FXTM

FXTM was founded in 2012, is a licensed and well-regulated broker and based in Cyprus.

They also have offices in major countries like the UK, Germany, France, Spain, Poland, Italy, Turkey, China, Thailand, South Korea, Malaysia, India and Nigeria.

FXTM offers tight spreads, trading in all currency pairs and a wide range of other financial products and derivatives.

 

FXTM Features

  • Great selection of educational tools
  • Low stock index CFD fees
  • Spreads as low as 0.1 pip for a standard account and 0 pips for ECN accounts
  • Allows hedging
  • Fast and easy account opening

 

FXTM Pros and Cons

✔️Pros ❌Cons
Low minimum deposit Inactivity and withdrawal fees
Fantastic Customer Service High CFD fees
Fast and easy account opening Limited product portfolio
Highly regulated Broker
Competitive Forex fees

 

Tickmill

Tickmill

Tickmill is a Forex trader based out of London and Seychelles. They are highly popular due to their unique selling point of providing the lowest cost trading experience.

Tickmill was formed in 2014 by Forex traders whose mission was to provide an excellent trading environment for other traders.

The company has grown into a leading Forex broker with 150+ employees globally, just under 200 000 clients with over $273 Million trades executed.

Tickmill offers great research resources as well as a fantastic range of trading instruments.

Customer support is also capable and timeous in resolving queries.

 

Tickmill Features

  • Variety of trading accounts
  • Autochartist, Trading calculators, Economic calendar
  • Copy Trading
  • Good range of instruments
  • Tickmill VPS
  • One-click trading

 

Tickmill Pros and Cons

✔️Pros ❌Cons
Great customer support Only Forex and CFDs
Good product selection News Feed is basic
Easy user registration Few account base currencies
Lowest Forex commission on the market
Many withdrawal and deposit options
Free deposit and withdrawals
Competitive pricing in the professional trading environment

 

FP Markets

FP Markets

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

It offers MT4, MT5 platforms and over 50 currency pairs, CFDs, gold, silver, Indices, Stocks and cryptos to trade with.

 

FP Markets Features

  • Demo Account for beginning traders
  • 50 plus currency pairings to trade
  • Leverage is 500:1 when trading currency
  • Offer Direct Markets Access (DMA)

 

FP Markets Pros and Cons

✔️Pros ❌Cons
Easy and fast account opening Limited product portfolio
Low trading fees High CFD fees
Fast execution of trades High minimum deposit
Low Forex fees High fee for international bank withdrawal
Good platform options

 

GO Markets

GO Markets

GO Markets is one of the leading and trusted Australian regulated brokers and offers more than 350 tradeable CFD instruments including Forex, Shares, Indices and Commodities and Cryptocurrencies.

They have offices in London, Taipei, Melbourne and Hong Kong and were founded in 2006.

 

GO Markets Features

  • Regulated by ASIC
  • Offers Negative Balance Protection
  • Used by over 10,000 traders
  • Allows hedging
  • Allows scalping
  • Offers STP

 

GO Markets Pros and Cons

✔️Pros ❌Cons
Ultra-fast trade executions Only two account types available
Innovative technology Clients from many jurisdictions not accepted
Great trading and analysis tools Not available in the US
Highly regulated broker Limited range of instruments

 

XM

XM

XM Global was founded in 2017 and it offers more than 1000 financial instruments. These include Forex Trading, Equity Indices CFDs, Stocks CFDs, Commodities CFDs, Precious Metals CFDs and Energies CFDs.

XM offers the MetaTrader 4 and MetaTrader 5 platforms. These are the most widely used platforms in trading and both are accessible from real and demo accounts.

XM is regulated by the International Financial Services Commission. In Forex Trading they have over 55 currency pairs on offer.

XM awards:

  • Best FX Service Provider for 2020 awarded by City of Wealth Management Awards 2020
  • Best Customer Service Global 2019 awarded by Capital Finance International Magazine
  • Best Market Research and Education Global 2019 awarded by Capital Finance International Magazine

 

XM Features

  • Used by over 70,000 traders
  • Offers Negative Balance Protection
  • Allows Hedging
  • Allows scalping
  • Offers negative balance protection
  • Low min deposit

 

XM Pros and Cons

✔️Pros ❌Cons
Low withdrawal fees Inactivity fee
Easy and fast account opening Average Forex fees
No withdrawal fee
Great educational tools and resources

 

HotForex

HotForex

HotForex is a Cyprus based brokerage founded in 2010. They have several satellite offices around the world, e.g. in Dubai and South Africa, as well as offshore entities in St Vincent and the Grenadines.

HotForex offers commission-free trading in Forex pairs, in each of their 6 core trading accounts.

They give access to more than 150 trading instruments across Forex, Commodities, Indices, Shares, Bonds and Cryptocurrency CFDs.

They have also been listed as one of the Top 100 Companies by World Finance Magazine.

 

HotForex Features

  • Offers Negative Balance Protection
  • Additional Civil Liability Insurance
  • Lots of premium MetaTrader tools offered
  • Known for great technology
  • Numerous industry awards garnered
  • Great range of markets
  • Regulated by ASIC, CySEC, FCA

 

HotForex Pros and Cons

✔️Pros ❌Cons
Fast, easy, fully digital account opening Only Forex and CFD products
Low minimum deposit Two of their entities are unregulated
Commission-free accounts available Only 56 Shares available
Low Forex fees
Competitive spreads

 

Exness

Exness

Exness has a monthly trading volume of more than $180 billion and 15,000 new accounts are being opened each month.

They have more than 80,000 active traders and offer access to more than 120 financial instruments to trade across which include Crypto, Forex, Stocks and Indices.

In Forex they offer a great range of 120 currency pairs to choose from.

The Exness Group was founded in 2008 in St. Petersburg, Russia and are now a global broker.

They accommodate over 23 different languages on their website, including English, Chinese, Farsi, Hindi, Urdu, Tamil, Thai, Russian, Vietnamese, Bengali, Indonesian and Malay.

Their customer support platform also offers 13 languages 24 hours a day during the trading hours.

Exness has licences from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles.

 

Exness Features

  • Client funds kept in segregated accounts
  • Tight spreads
  • Copy-trading system
  • Very cool user friendly and modern website
  • Tight spreads from 0.1 pips
  • No hidden commissions or fees
  • Instant withdrawal of funds

 

Exness Pros and Cons

✔️Pros ❌Cons
Customer support in many languages Inactivity and withdrawal fees
Commission-free trading High CFD fees
Access to Forex ECN trading Not available in the US
120 Currency pairs to trade from
Offshore regulation

 

IC Markets

IC Markets

IC Markets is highly regulated by the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC) in 2009.

They offer tight spreads in their offering of 63 Forex pairs and 41 CFDs on Indices, Metals, Cryptocurrencies and Futures.

International Capital Markets Pty Ltd (IC Markets) was founded in 2007 and is an ECN broker based in Sydney, Australia and are known to be a broker for traders made by traders.

IC Markets offers several trading platforms to choose from which include MetaTrader4 (MT4) and MetaTrader 5 (MT5), as well as the suite of cTrader platforms.

They know how important the security of client funds are, so their platforms use high-level web security.

 

IC Markets Features

  • True ECN broker with institutional grade liquidity
  • Wide range of tradeable products
  • Good customer service with 24/7 Support
  • Great variety of Educational materials
  • Selection of sophisticated trading platforms
  • Low min deposit

 

IC Markets Pros and Cons

✔️Pros ❌Cons
Easy and fast account opening No investor protection
Low Forex fees Only Forex, CFD, and crypto trading
Free deposit and withdrawal Lack of research tools
Low Forex fees

 

IG

IG

IG, founded in 1974, is one of the oldest and most established brokerage firms in existence.

They are one of the biggest CFD brokers in the world and they have a huge offering of products to choose from.

IG has very good educational resources, excellent research and trading tools and an innovative proprietary web trading platform.

They are also considered safe because they are listed on the FTSE (Financial Times Stock Exchange) 250 and are regulated by top-tier institutions like the FCA (UK) and the FSCA (SA).

 

IG Features

  • Access to 17,000 markets
  • Fast innovative mobile app
  • Full suite of alerts and management tools on mobile App
  • Advanced platforms and charting (L2 dealer, ProRealTime and MT4)
  • Automated trading on ProRealTime web-based charting package
  • Top-notch proprietary platform

 

IG Pros and Cons

✔️Pros ❌Cons
First-class web trading platform Limited product portfolio
Excellent Educational resources Poor phone support
Good deposit and withdrawal options High stock CFD fees
No minimum initial deposit
Very high trust score of 99

 

FxPro

Fx Pro

Fx Pro UK, a subsidiary of FxPro Group Limited, was founded in 2006. They have more than 870,000 client accounts in 173 countries.

They are highly regulated by the FCA and CySEC, and FSB (FSCA).

Fx Pro offers incredible execution speeds, with an average execution time of fewer than 11.06 milliseconds and it processes approximately 7 000 orders per second.

 

FX Pro Awards:

  • Best Global Forex Introducing Broker Programme, Global Forex Awards 2019
  • Best MetaTrader Broker 2019, ForexBrokers com
  • Best in Class of Commissions & Fees, ForexBrokers com
  • 5-stars MetaTrader Broker 2019, ForexBrokers com
  • Best FX Provider of the Year, Online Personal Wealth Awards 2019
  • Best Tablet Application, Online Personal Wealth Awards 2019
  • Best European Value Broker of the Year, Global Forex Awards 2019

 

FX Pro Features

  • No dealing desk
  • Exclusive trading tools, news and analysis
  • Virtual Private Server (VPS) for expert advisors
  • Technical analysis by Trading Central
  • Good customer service with 24/7 support
  • Very fast execution of trade speeds
  • Company capital in excess of 1 million British Pounds

 

FX Pro Pros and Cons

✔️Pros ❌Cons
Wide selection of market instruments No investor protection
Segregated accounts Doesn’t offer its services in all countries
Highly regulated
Range of account types
Little to zero commissions charged

 

Pepperstone

Pepperstone

Pepperstone was established in 2010 and is an Australian Forex broker. They have grown to become one of the largest Forex brokers in the world.

They have over 57,000 trading clients and are regulated by two top-tier financial authorities, the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

 

Pepperstone Features

  • Over 150 trading instruments
  • VIP client service and pricing
  • Active Trader reward program with cash rebates paid daily
  • Offers a range of online trading platforms
  • Award-winning educational resources
  • Most orders executed in less than 30 milliseconds (Pepperstone Group Limited) and 60ms (Pepperstone Limited)

 

Pepperstone Pros and Cons

✔️Pros ❌Cons
Low fees in spreads and comms Limited range of instruments
Good offering of trading platforms Limited risk management tools
Free deposit and withdrawal No stockbroking. Only Forex and CFDs
Low minimum deposit Basic news flow, no fundamental data

 

eToro

eToro

eToro is a brokerage firm, founded in 2007 and based in Tel Aviv, Israel. It boasts more than 10 million users in 140 countries worldwide.

eToro began as a Forex only broker but has since expanded its product offerings to include Stocks, Cryptocurrencies, Commodities and Market Indices.

eToro made its name on its social investing platform that allows users to copy the trades of other investors. In the eToro social community, traders can become “leaders” and earn from leading other traders who follow and copy their trades.

 

eToro Features

  • 10 million traders worldwide
  • Offers access to 15 Cryptocurrencies
  • Free stock and ETF trading in Europe
  • Premier Social trading/Copy trading platform and community
  • Huge Cryptocurrency offering
  • Robust charting

 

eToro Pros and Cons

✔️Pros ❌Cons
Fully digital account opening Withdrawing money is slow and costly
Low CFD fees High Forex fees
No deposit fee Only one account base currency used
Service is fast Withdrawal fee
Low minimum initial deposit  No streaming news

 

FXCM

FXCM

FXCM is a UK-based broker that was founded in 1999 and also has offices in Germany, Australia, France, Italy, Greece, Hong Kong and South Africa, and affiliated offices in Canada and Israel.

FXCM has become one of the leading providers of online trading and is known for innovative and advanced technology and fast trading executions.

FXCM’s has their own proprietary Trading Station platform for Web, Mobile and Desktop, as well as on NinjaTrader, MetaTrader 4 and ZuluTrade.

They also offer Forex traders access to other platforms such as AlgoTerminal, Sierra Chart, QuantConnect, MotiveWave and others.

 

FXCM Features

  • Top-Notch charting and technical analysis tools
  • Great technical research tools
  • High-quality educational tools
  • A huge offering of platforms including their proprietary Trading Station
  • Wide range of tradeable markets, research and educational resources

 

Pros and Cons

✔️Pros ❌Cons
Low Stock and ETF fees Limited product portfolio
Fast and easy account opening Poor mobile platform
Low trading fees High AUD/USD trading fee
No withdrawal fee
Excellent charting and tech analysis tools

 

XTB

XTB

XTB offers CFD, Crypto and Forex trading.

The company was founded in 2002 and offers a wide range of financial instruments through its standard and pro account types.

XTB has offices in over 13 countries including the UK, Poland, Germany, France and Turkey with headquarters based in London and Warsaw.

 

XTB Features

  • Regulated by top-tier FCA
  • Fully digital account opening and trading
  • Offers Negative Balance Protection
  • Award-winning platform
  • Lots of educational materials offered

 

XTB Pros and Cons

✔️Pros ❌Cons
Easy and fast account opening Limited product portfolio
Free and easy deposit and withdrawal Poor email support
Low trading fees High fee for stock CFD
No withdrawal fee
Low Forex and stock index CFD fees

 

OctaFx

OctaFX

OctaFX was established in 2011 and is a Jakarta, Indonesian based brokerage firm.

It is an (STP) ECN Forex broker in more than 100 countries worldwide and offers both the MetaTrader and cTrader platforms.

OctaFX offers all the major currency pairs and Commodities with a leverage of 1:500.

OctaFX has won several awards for its work in the Asian Market region, especially for excellent customer service.

 

OctaFx Features

  • Greatly advanced technology
  • Extensive research and educational resources
  • Over 300,000+ traders worldwide
  • First-time deposit match of 50%
  • Unlimited demo account
  • Spread offerings among the most competitive in the Forex industry.

 

OctaFx Pros and Cons

✔️Pros ❌Cons
No commission deposits or withdrawals Limited range of instruments
Free and easy deposit and withdrawal No Forex educational tools
Multiple platforms to choose from Doesn’t offer VPS
Enhanced licensing with the addition of CySEC regulation
Low Forex and stock index CFD fees

 

City Index

CityIndex

City Index was founded in 1983 and is a broker with more than 35 years of experience.

They are based in London, offering more than 12 000 markets to choose from across Forex, Indices, Shares and Commodities.

They are listed on the New York Stock Exchange and highly regulated by top-tier financial authorities such as the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) and Monetary Authority of Singapore (MAS).

Their educational resources are through their own Trading Academy and are first grade, with a wide offering of videos covering a host of subjects as well as webinars.

City Index has in-depth market analysis and research, covering all asset classes, making their educational offering great for the beginner trader and experienced ones.

 

City Index Features

  • Great market analysis
  • Great research tools
  • 12,000+ instruments to trade
  • Top-notch trading platform and multiple platforms.

 

City Index Pros and Cons

✔️Pros ❌Cons
Low fees for Forex and index CFD’s Limited product portfolio
Fast and smooth account opening High CFD fees
No withdrawal fee High minimum deposit
Diverse research tools Inactivity fee
No deposit fee

 

FBS

FBS

FBS offers an extensive selection of account types and some of the lowest capital requirements.

They provide a great selection of trading education videos and articles to help skill up any level trader.

FBS was founded in 2009 and serves clients from over 190 countries with its headquarters in Cyprus.

They are under strict regulation from the CySEC and the IFSC.

 

FBS awards:

  • Most Transparent Forex Broker, 2018
  • Best Forex Trading Account, 2018
  • Best Copy Trading Application Global, 2018
  • Best broker in the Middle East, 2018
  • Best Forex Broker Asia, 2018
  • Most Progressive Forex Broker Europe, 2019
  • Best Forex Broker Vietnam, 2019

 

FBS Features

  • Leverage of up to 1:3000
  • Offers bonuses to new traders
  • Low Spreads and comms (from 0 pips)
  • Over 14 000 000 traders and 370 000 partners
  • Commissions covered by FBS

 

FBS Pros and Cons

✔️Pros ❌Cons
Low Deposit for account opening Higher than normal spreads
Super-fast trade execution Fees on both deposits and withdrawals
Free demo account
Highly responsive customer service

 

easyMarkets

easyMarkets

Founded in 2001, easyMarkets is regulated for trading in CFD and Forex and gives Forex traders access to CFDs on Commodities, Forex, Shares, Indices and Cryptocurrency.

easyMarkets’ claim to fame is being a very beginner-friendly Forex broker and being well known for its web-based service, which has been designed with user experience in mind.

This is backed up by a comprehensive offering of educational and training resources, as well as beginner-friendly features such as a low freeze rate and deal cancellation.

Information-wise, they have plenty to offer, including the latest news headlines (as all experienced traders know, news stories can heavily affect trading) and a financial calendar.

These features are important for real-time analysis and can help to maximise profits

 

easyMarkets Features

  • Provides latest news headlines
  • Provides a financial calendar
  • Trading Central charting and signals
  • Offers a low Freeze rate
  • Offers deal cancellation
  • easyTrade tool to set their risk limits, durations of trade and potential pay-outs

 

easyMarkets Pros and Cons

✔️Pros ❌Cons
Free guaranteed stop loss Fx spreads start at 1 pip
Fixed spread account No variable spread accounts
Commission-free account Platform can be confusing
Strict regulation Deal cancellations not available on MT4
Negative Balance protection

 

Oanda

OANDA

Oanda is a technology-driven financial services corporation that was founded in 1996 and is an American based Forex broker.

Oanda was one of the early online Forex brokers and it was the first to have a fully automated Forex trading platform as they always felt that the internet should open trading up for everyone.

They were originally based in the US but expanded and now have a strong London based office and a huge presence in Europe.

They have clients in 196+ countries and in eight global financial centres.

Oanda has licenses from major regulatory jurisdictions, including Japan, The UK, Canada, the US, Singapore and Australia.

 

Oanda Features

  • Partners with the likes of Google, KPMG, TESLA, Airbnb, FedEx, IATA, PWC, Twitter, Expedia and others
  • Choice between ECN and market-maker execution models
  • Powerful API technology
  • Heavily regulated under 6 major regulatory authorities
  • Powerful platform tools – Advanced Charts, trading performance portal, open positions ratios and an MT4 plugin
  • Client funds are segregated

 

Oanda Pros and Cons

✔️Pros ❌Cons
Easy and quick digital account opening Only FX and CFDs
Low Forex Fees High withdrawal fees for bank transfers
Web trading platform is easy to use Poor customer service
No withdrawal fees in most cases ID verification can slow down account opening
No minimum deposit

 

Saxo Bank

SaxoBank

Saxo Bank is a Danish investment bank that was founded in 1992 and is a trusted name with a strong banking background. It is regulated by top-tier financial authorities including the UK Financial Conduct Authority (FCA) and the Danish Financial Services Agency (FSA).

Saxo Bank also has its own proprietary trading platforms SaxoTraderPRO (desktop) and SaxoTraderGO (web), which have both industry benchmarks.

Saxo Bank provides a complete package worthy of being a customer for. It is provided under a global brand that traders can trust for those traders that can afford the high minimum deposit.

 

Saxobank Features

  • Available assets for trading at Saxo Bank sum over 35,000 and cover 9 different types of asset classes
  • Access all trading platforms from one trading account
  • SaxoTraderGO is award-winning trading platform
  • Algorithmic orders and one-click trading
  • Top charting packages
  • 3rd party tools such as asset-specific analysis tools, advanced strategy backtesting and hyper-responsive charting

 

SaxoBank Pros and Cons

✔️Pros ❌Cons
Great proprietary trading platform High minimum deposit
Outstanding Research Poor support, not 24/7 and no live chat
No withdrawal fees Inactivity fee
Low Forex fees

 

Swissquote

Swissquote

Swissquote Bank is a Swiss Forex broker as well as a major European bank. They offer financial instruments like Energies, Stocks and Commodities as well as sixty Currency Pairs.

They are based in Luxembourg which is an ‘AAA’ rated financial centre well known for investor protection.

Swissquote has world-class client support in many languages such as Chinese, English, French, German and Spanish over multiple channels.

They boast having over 300,000 traders using their services.

Swissquote offer 3 different platforms traders can choose from and they are also optimized for mobile devices with full functionality over IOS, Android and Windows mobile operating systems.

 

Swissquote Features

  • Assets held by global custodians and cash protected up to EUR 100’000
  • Settle trades in 22 currencies
  • 20 global stock exchanges
  • 500+ lower-cost clean funds from leading asset managers
  • Over 5000 ETFs from Vanguard, iShares and more
  • 0.1% trading commission on all markets
  • Low all-inclusive charges of 0.90% to 1.40% per year on Smart Portfolios
  • Real-time stock market data, reports and third-party analysis
  • Premium analyst research from Morningstar
  • Real-time news from Dow Jones
  • Technical analysis from Trading Central

Swissquote Pros and Cons

✔️Pros ❌Cons
No Inactivity fee High trading fees
Low Forex fees Not all research tools are free
Access to a great variety of markets Platform can be confusing
Flexible trading platforms
Great market research tools
Safe and highly regulated

 

ThinkMarkets

ThinkMarkets

ThinkMarkets is an online Forex and CFD brokerage firm that was founded in 2010 and is based in London.

They have offices in the Asia-Pacific, Middle East, North Africa, Europe and South America as well.

ThinkMarkets keeps the funds of their clients in segregated accounts with top-tier banks such as National Australia Bank, Barclays, as well as the Commonwealth Bank of Australia which prohibits the use of client funds for any reason.

The broker is regulated by two of the strictest authorization entities within the UK and in Australia, namely, the FCA and the ASIC as well as the FSCS (FSB) in South Africa, giving you a solid layer of protection.

 

ThinkMarkets Features

  • Diverse technical research tools
  • Raw spreads from 0 Pips
  • Up to 25 trades commission-free for new traders
  • No stop-loss and take profit limits
  • Free trading tools: MT4 Super, AutoChartist, VPS and FX Wire Pro
  • Segregates client funds

 

ThinkMarkets Pros and Cons

✔️Pros ❌Cons
Low minimum deposit No fixed spread accounts
Advanced trading programs No web-based trading platform
Commission-free accounts Commission charged for two account types
VPS service
Tightest spreads possible

 

Forex.com

Forex.com

Forex.com has garnered many awards and in 2020 it has earned Best in Class (top 7) awards for numerous categories including Offering of Investments, Commissions & Fees, Education, Professional Trading, Crypto Trading, Ease of Use, and Overall.

It was established in 2001 and is the brand name of GAIN Capital, which is listed on the New York Stock Exchange, and is a global FX and CFD brokerage firm.

Forex.com is regulated by the top-tier Financial Conduct Authority (FCA) in the UK and the US Commodity Futures Trading Commission (CFTC).

They offer over 4,500 CFD instruments to trade with and they allow access to over 180 markets including Forex pairs, Stocks, Indices, Cryptocurrencies and Commodities.

 

Forex.com Features

  • Diverse technical research tools
  • TradingView charts built into the platform
  • Great mobile and desktop functionality
  • Over 40,000 traders
  • Regulated by several authorities

 

Forex.com Pros and Cons

✔️Pros ❌Cons
Great variety of currency pairs Limited product portfolio
Fast and easy account opening High stock CFD fees
Fast execution of trades Higher spreads than some brokers
Low Forex fees No negative balance protection
No withdrawal fees Inactivity fee

 

MarketsX

MarketsX

The company first launched as GFC Markets but was rebranded as Markets.com in 2010 after the merger between Safecap Investments LTD, the owner of GFC Markets, and TradeFX.

In 2015 it was rebranded again when Playtech PLC acquired the company to rename itself MarketsX.

The company underwent a massive restructuring in 2016, reducing its workforce and selling its binary options platform TopOption.

MarketsX is regulated by four major regulators, (the Cypriot CySEC, FSCA, ASIC and the UK FCA) under several different operating names.

They offer more than 2 200 assets covering Bonds, Commodities, Cryptocurrencies, Currencies, Stocks, Indices, ETFs and even IPOs from three trading platforms.

MarketsX also allows traders to trade commission-free, with costs just related to spreads.

They provide their own proprietary platform plus MetaTrader 4, MetaTrader 5 and mobile trading.

 

MarketsX Features

  • Free access to exclusive and one of the most comprehensive ranges of fundamental, technical and sentiment-based trading tools
  • They offer more than 2,200 assets to trade with
  • They offer more than 70 global currency pairs to trade with
  • Expert analysis straight from the platform
    Good customer service with 24/7 Support
  • No Forex trading commissions

 

MarketsX Pros and Cons

✔️Pros ❌Cons
Large range of trading instruments Lack of telephone support
Fixed spreads Low leverage
Commission-free accounts Lengthy processing of deposits and withdrawals
Low minimum deposit
Fast execution

 

Dukascopy

Dukascopy

Dukascopy, a Swiss regulated Brokerage House, provides traders with a host of great and unique offerings.

They offer a range of trading platforms and software. This includes its proprietary JForex platform suite, which has industry-leading trading tools and market research and analysis.

They cater for quite a few different deposit and withdrawal payment options. Trading accounts can be opened in a number of different currencies.

 

Dukascopy Features

  • Well-regulated in multiple regions
  • Automated trading tools
  • Variety of excellent trading platforms
  • 500+ tradable products
  • Advanced analytics and news
  • Variety of trading orders such as stop-loss and limit

 

Dukascopy Pros and Cons

✔️Pros ❌Cons
Multiple currency accounts High commissions
Expert news and analysis Withdrawal fees
Great market research tools Minimum deposit is high
Flexible trading platforms

 

Conclusion

Working with a highly regulated broker is important in many ways. But what are the benefits of trading with regulated Forex brokers?

Regulated brokers can experience transparent and honest trading operations since they are required by law to act in complete transparency.

They are also required to submit periodical financial reports to the regulatory body, or their membership could be terminated.

It is important to check the validity of your potential broker’s license and historical records with the regulatory authority to make sure the broker is truly regulated.

Regulated Forex brokers are required by law to separate trader funds from the company funds. The broker cannot use trading funds for their own operational expenses.

Also, if a brokerage firm goes bankrupt, it cannot use its clients’ funds to repay its debts. These funds should only be used to compensate its clients.

Regulation plays an important role to make sure that the Forex broker you want to trade with obey set rules and standards, set by the regulatory body in order to protect the trader and make sure everything they do is transparent, accountable, and legal.

Therefore, when starting out in Forex trading you should always make sure that you work with licensed and regulated brokers to protect your interests like those mentioned in this list of 28 most regulated Forex Brokers.