We review the top Forex brokers in the industry
Know the Best regulated Forex brokers for 2021, their trading conditions, bonuses, contests and promotions.
Tap into the high potential of the Multi Trillion dollar Forex market
In the last two decades Forex trading in the world has became very popular and today trillions of people across the globe trade Forex with a view to earn profits from this highly potential market. But it should be noted that though the Forex market offers a high earning potential it also comes with a high risk element. It is always advisable to take all your trading decisions with discipline and proper research.
Choosing the right Forex or binary broker is very crucial
For earning in Forex trading, choosing a good broker is very important otherwise you might face problems at the time of withdrawing your profits or in the worst case scenario, a broker might even wind up with their traders money. It is in this area where we can provide you with a lot of help, however your actual profitability is influenced largely by the quality of trading decisions you actually can take. Take your time to know your Forex or binary broker properly, it's trading terms and conditions and try to always take informed decisions all through your trading career.
What makes a good Forex broker?
The most important thing that makes a good Forex or binary broker is it's reliability. We have seen brokers come up with excellent bonus offers and promotions but after a while they just wind up. So caution should be exercised before deciding to work with new entrants in the Forex industry, working with brokers that are established and trusted by a large number of traders across the globe is more advisable. it is important to consider the following before deciding to join and trade with a broker.
1. Licensing and regulation - Regulated Forex brokers are more preferable
This is the most important thing to consider in judging the reliability of a Forex or binary broker. A broker that is well licensed has to adhere with the guidelines of the regulating authority and thereby is safer to invest and trade. Also the reputation of the regulatory or licensing authority matters, the stronger the regulatory authority the more reliable the Forex broker usually is. Following are some of the strong regulatory authorities to look for
National Futures Association (NFA), Commodity Futures Trading Commission (CFTC) - United States
Financial Conduct Authority (FCA) - United Kingdom
Securities and Exchange Board of India (SEBI) - India
Australian Securities and Investment Commission (ASIC) - Australia
Swiss Federal Banking Commission (SFBC) - Switzerland
Cyprus Securities and Exchange Commission (CySEC) - Cyprus
Autorite Des Marches Financiers (AMF) - France
Investment Investment Regulatory Organisation of Canada (IIROC) - Canada
2. Educational material the broker provides and demo account
Trading is not a place where a newbie can enter and start earning a lot of money straightaway. If a person wants to earn in trading, he has to devote time for learning and practice. Today demo accounts are given free of cost by almost every broker and also many top brokers provide educational material that can be used for learning. As the age old proverb still holds good, "First learn and then earn".
3. Quality of order execution of the broker
A good Forex broker will fill your trade at the best possible price and with least slippages or re-quotes. At normal market conditions like when there is no news, a good broker will fill your order fast and at market price, however at times of high impact news some deviations are acceptable. Leave a Forex broker instantly if even at normal market conditions you are facing often re-quotes or your orders are not filled at or close to the market price.
4. Trading costs, spreads and commission charged by the broker
Every time you trade you either have to pay for the spreads or commission, so the spreads and commission charged by a Forex or binary broker can impact your profitability. Today there is competition everywhere and also among the Forex brokers. Many competent Forex brokers today offer ultra low spreads and charge very less commission on trades and hence such brokers are more attractive than the others.
So it is important to take note of your trading or transaction costs. If you are a day trader or trade several times in a month it is important that you choose a broker with low spreads or commissions. Along with other parameters, we do consider the spreads and commissions charged by a broker, before reviewing and recommending it.
5. How simple and hassle free is the withdrawal process of the broker
Some brokers have instant deposit but when it comes to withdrawal they take several days and some even are on the hunt to find excuses to avoid making any payments. Such brokers should be avoided and it's better to work with brokers that are financially strong and offer hassle free and fast withdrawals. Time is money and there is no reason for any broker to take very long or make it hard for you to withdraw your own money. It's advisable to make a small deposit at first with any broker, check out it's trading conditions and withdrawal procedure and if you are satisfied then go for bigger deposits.
There are brokers that have instant deposits and instant withdrawals which you can have a look at here. Of course there are other things also to look for and which we have considered before listing these brokers on our website.
6. Trading platform and mobile trading experience of the broker.
It is the trading platform through which a trader places his trades in the market and hence it's stability and quality matters a lot. The Metatrader 4 - (MT4) is still the most popular trading platform among traders across the globe though some traders choose to use the Metatrader 5 (MT5) and they are available both for Computers and mobiles. All good Forex brokers offer both these platforms and also certain other trading platforms with some unique features.
7. Quality of customer support provided by the broker
There are many instances where a trader might need to contact a Forex broker. So your Forex broker should have good customer support and should be easily approachable at the time of need. Leave a broker as soon as possible if it is not having good customer support or is not solving your queries on time. Note that some Forex brokers provide excellent support during account opening or during deposit of money but their after sales services is bad, some brokers turn deaf and dumb when it comes to queries related to withdrawal of money.
We do consider the quality of customer support before listing a Forex or binary broker on our website, but you as a trader needs to be always alert because none other than God knows what is in store for the next day.
We help your chose the right Forex brokers
In the first place we don't merely review a Forex or binary broker just because it's willing to pay us for advertisement. We only review reputed Forex brokers that are trusted by a large number of traders, have strong establishment and provide a trading environment where traders can actually make good profits.
Trading with more than one broker can facilitate your trading performance since this way you can benefit from certain features, trading conditions or bonus offers that a particular broker is offering. Note that all top Forex brokers compete with each other and strive to improve their performance in order to keep their existing customers and secure new customers.
List of top Forex brokers that we recommend
Avatrade was founded in 2006 as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
With consistent efforts to grow and improve today Avatrade has over 300,000 Happy Traders and Counting. AvaTrade was among the first Forex brokers to introduce CFD trading on commodities, indices and stocks.
Withdrawals are usually processed within 4-12 hrs but sometimes may take up to 48 working hours.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Webmoney.
The story of Deriv starts in 1999. The Regent Markets Group is born, funded by Regent Pacific Group Ltd., a company listed on the Hong Kong Stock Exchange. Regent Markets was established with a mission to make online trading accessible to the masses.
Marking it's remarkable growth and 20 years of dedicated service, Deriv today has over 20 million trading accounts opened and the trading turnover reached over 8 Billion UsD
Withdrawals are processed within 1 working day.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Webmoney, Fasapay, Perfect Money, Qiwi, Paysafe, Jeton Wallet, Sticpay, Airtm, Deriv payment agents, bitcoin.
The Exness Group was founded in 2008. In the past few years the Exness Group has developed at an impressive rate, and is recognised today as an industry leader.
Exness clients' monthly trading volume exceeds 326 billion USD and their active traders around the world surpassed 73,000. Exness offer client support in 13 languages, including 24/5 support in 11 languages and 24/7 support in English and Chinese.
Withdrawals are usually processed instantly by Exness, if a withdrawal is not subject to instant execution, it will be processed within 24 hours.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Webmoney, Perfect Money, Jeton Wallet, Jeton go, Sticpay, online bank transfer, Netbanking, bitcoin.
Founded in 2009, FBS has received numerous international awards, proving its worth to the customers.
With over 15000000 traders across the globe and the annual profits of traders crossing $500000000 FBS is now a Forex broker of choice for numerous traders worldwide.
Not instant, but withdrawals are super fast and are usually processed in 15-20 minutes. However in some cases withdrawals may take up to 48 hours.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Webmoney, Perfect Money, Sticpay, Globe pay, FBS Exchangers, Google pay, bitcoin.
Forex4you started in 2007 and then in 2013 launched a ground-breaking social trading service, Share4you. Their vision is to contribute to the global change in the online trading industry — bringing more transparency and making trading truly accessible to all.
With over 20 Million Trading accounts opened, 12 Industry awards, 8 Languages supported,13 Years in the market, Forex4you is today trusted by traders across the globe.
Withdrawals are usually instant via Webmoney and perfectmoney while withdrawals via bank wire and Visa or Master cards may take 1-3 days. Forex4you have an excellent track record for processing withdrawals and their average withdrawal processing time is 287 mins, that is the average time taken for processing withdrawals is 4 hours 47 mins.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Webmoney, Perfect Money, Netbanking, bitcoin.
Fxopen was founded as an educational center offering courses in the field of technical analyses and financial markets. The launch of brokerage services in 2005 was a natural progression to satisfy the growing need for fair and transparent trading conditions combined with excellent customer support.
FXOpen was the first Forex broker to offer its clients ECN trading via the Meta Trader 4 terminal. And with FXOpen's unique proprietary price aggregating technology, traders can benefit from the industry's most competitive spreads and low trading commissions.
Withdrawals via electronic payment systems are usually processed within 1 business day. Bank wire transfers may take 1-3 business days.
Bank Wire, Credit card, Debit card, Webmoney, Perfect Money, CashU, Qiwi wallet, Epay, AdvCash, Airtm, Intellect money, FasaPay, Yandex Money, Instant local bank transfer,
FXOptimax is a rapidly growing worldwide Online STP Forex Broker, which was founded in 2009 and the motive of Fxoptimax is providing an excellent online foreign exchange trading environment for their clients all over the world.
FXOptimax won The Best Micro Broker award in 2015 due to the excelling trading environment they offer to traders across the world, which they keep improving up to now.
Withdrawals are usually processed within few hours but can take up to 1 business day.
Bank Wire, Skrill, Neteller, Perfect Money, Fasapay.
Hotforex was established in 2010 and aims to lead the way forward through the use of cutting-edge technology, innovative systems solutions, low cost commissions and unrivalled customer service.
With over 2 Million Trading accounts opened, 40 Industry awards, 27 Languages supported,10 Years in the market, Hotforex is today trusted by traders across the globe.
Withdrawals are usually processed instantly by Hotforex, however withdrawals via bank transfers and debit/credit cards takes 1-3 working days.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Webmoney, Perfect Money, online bank transfer, Bitcoin-Bitpay
Established in 2008, the company invests huge in stable servers and platforms, Nordfx offers it's traders an excellent order execution speed of just 0.5 seconds.
NordFX is an international broker with over 10 years of experience in financial market, over 1.500.000 accounts have been opened in NordFX by clients from over 190 countries, and the company has been honoured with over 50 prestigious prizes and awards.
Withdrawals through online payment systems are processed within 1 business day. Bank transfers can take up to 3 days while withdrawal through bank cards can take up to 5 days.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Webmoney, Perfect Money, Paytoday, Dragonpay, Local deposit/withdrawal.
Octafx is based in St. Vincent and the Grenadines and was established in the year 2011. Octafx's mission is to create a cost-effective trading experience where Forex traders can earn more with the same investment.
With over 1.5 Million Trading accounts opened, 288 Million trades executed, 100 countries covered, 28 Industry awards, Octafx is today trusted by traders across the globe.
Withdrawals are superfast and timely, Octafx processes most of it's withdrawals within an hour or two.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Netbanking, UPI,bitcoin.
Roboforex was established in 2009 by a team of professionals, who are ready to share their experience and knowledge with wide audience of traders.
Roboforex has over 800000 clients from over 169 countries and is the winner of more than 10 prestigious awards.
Withdrawals by electronic payment systems are usually processed instantly by Roboforex. If a withdrawal is not executed instantly, it will be processed within 24 hours. Bank payments are processed within 3 working days.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Webmoney, Perfectmoney, Astropay, Fasapay, Advcash, Local bank transfer, UPI, Bitcoin.
The company started in 2006 and is committed to provide the traders with 24-hour high-quality service and individual approach to each client.
14 years in the Forex Market and with over 8 official representative offices,110 000 active clients, 170 000 opened accounts, Weltrade is a transparent STP broker with outstanding dealing.
Though not instant, withdrawals are super-fast and the company is known for timely withdrawals. Weltrade processes it's withdrawals within 30 mins.
Credit card, Debit card, Skrill, Neteller, Webmoney, Perfect Money, Qiwi wallet, Fasapay, Local bank (Indonesia), bitcoin.
XM, established in 2009, is acclaimed for is transparency, what you see is what you get, with no hidden terms.
XM is a globally renowned Forex broker with over 3,500,000 clients from 196 countries, staff speaking over 30 languages, over 2,400,000,000 trades executed with zero requotes or rejections.
XM group is trusted by traders across the globe for safe and hassle free withdrawals. Withdrawals are processed by Xm within 24 hours, usually in a few hours.
Bank Wire, Credit card, Debit card, Skrill, Neteller, Webmoney, Online bank transfer.