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BEST FOREX BROKERS

We have reviewed major licensed forex brokers (regulated with FCA, ASIC, FSCA,
CMA & other regulators) based on 11 factors! Forex Trading is very risky for
Retail Traders.

Default SortSort by Min DepositSort by Lowest Spreads

Advertiser Disclosure







#
Broker
Important Features

Min Deposit
Lowest EUR/USD Spread
Max Leverage
Regulation
Start Trading
MetaTrader4
1
Exness
 * Exness is FCA, FSCA, CySEC licensed
 * Very low spreads with Pro Account
 * MetaTrader Platform
 * Multiple Account currencies
 * Exness has slow support
 * Negative: High Leverage

Visit Site



Risk disclosure: CFD Service, capital at risk.





$10 0.5 pips 1:Unlimited
Multiple, including FCA (UK), CySEC
Visit Site



Risk disclosure: CFD Service, capital at risk.



MT4, MT5




HOW TO CHOOSE A FOREX BROKER?

Regulatory Compliance

Ensuring a broker holds licenses from reputable regulatory bodies like the
Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission
(CySEC), Australian Securities and Investments Commission (ASIC), among others,
is vital. These licenses ensure compliance with industry standards and protect
traders’ interests.

Check for brokers that meet multiple regulatory requirements, offering a safer
trading environment across different jurisdictions.





Account Types

Assess the range of account types offered by the broker to suit various trading
preferences. Standard accounts, tailored for experienced traders, often differ
from mini or micro accounts designed for beginners with lower minimum deposit
requirements.

Look for brokers offering specialized accounts like Pro Accounts with a
commission-based structure for potential cost savings.





Average Spreads and Commissions

Understanding average spreads and commissions is crucial. Low spreads for major
currency pairs reduce trading costs. Transparent commission structures without
hidden fees contribute to cost-effective trading.

Choose brokers offering competitive spreads and clearly defined commission
models.





Withdrawal Options

Check if the broker supports convenient withdrawal methods in multiple
currencies. Swift processing times and low fees for withdrawals in local
currencies add convenience to trading experiences.





Customer Support

Responsive and knowledgeable customer support is vital. Evaluate the
availability and responsiveness of the broker’s support team through various
channels like live chat, email, and phone.





Account Opening Process

Look for brokers with a simple and efficient account opening process.
User-friendly online applications with clear documentation requirements ensure
quick access to trading platforms.





Available Platforms and Apps

Evaluate trading platforms and mobile apps offered by the broker. User-friendly,
stable platforms with essential trading tools are essential for seamless trading
experiences.





Range of CFD Instruments

Consider the diversity of CFD instruments offered by the broker. Availability
across various asset classes allows for diversified trading strategies catering
to different market conditions and preferences.








HOW TO CHECK A FOREX BROKER’S REGULATION?

Ensuring a broker’s legitimacy and trustworthiness is paramount in the forex
market. Regulatory compliance safeguards traders’ interests and funds. Here’s
how to assess a broker’s regulation status:

RESEARCH LICENSING AUTHORITIES

Identify renowned regulatory bodies such as the Financial Conduct Authority
(FCA) in the UK, the Australian Securities and Investments Commission (ASIC),
the Cyprus Securities and Exchange Commission (CySEC), and more. Each oversees
brokers within their jurisdiction.

It is also important to verify the products for which the forex broker is
licensed. Let’s understand with example using FSCA licensed brokers.

Beyond the license, ascertain the specific services approved by the FSCA. Some
brokers might offer a wide range of financial products and services, including
derivatives, forex trading, and more. Verifying the FSCA’s approval helps users
align their trading preferences with the broker’s regulated offerings, ensuring
compliance with the authority’s guidelines and safeguarding their investments.

Below is an example of a CFD broker of their “Products Approved” under it’s
category license.



VERIFY REGISTRATION

Visit the regulator’s website and check the broker’s registration status. Verify
if the broker appears in the regulator’s database. Confirm registration numbers
and cross-check them against the provided information on the broker’s website.

REVIEW COMPLIANCE RECORDS

Scrutinize the broker’s compliance history. Regulatory bodies often publish
disciplinary actions or warnings against brokers for misconduct. Examine any
past violations or complaints lodged against the broker.

ASSESS SEGREGATED FUNDS

Check if the broker segregates clients’ funds from its operational funds. This
separation protects traders’ capital in case of the broker’s insolvency.

ANALYZE TRANSPARENCY AND DISCLOSURES

A regulated broker should openly disclose its regulatory status on its website.
Assess the transparency of provided information, including terms and conditions,
fee structures, and risk disclosures.

SEEK RECOMMENDATIONS

Leverage online resources, forums, and industry publications to gather insights
from other traders. Personal experiences and reviews can offer valuable
perspectives on a broker’s regulatory adherence.

Conducting comprehensive research on a broker’s regulatory compliance
significantly mitigates the risk of falling victim to fraudulent practices.
Prioritize brokers regulated by reputable authorities to safeguard your trading
endeavors.









 * Min Deposit
   $10
 * Lowest Spread (EUR/USD Pro Account)
   0.5 pips
   
 * Max Leverage
   Unlimited

Regulation
CySEC, FCA (UK), FSCA



Broker Features
 * FSP
   number 51024
 * Tight
   spreads
 * 
   MetaTrader Platform
 * ZAR
   Account
 * Not
   Licensed ODP
 * Negative: High Leverage

Visit Site





















 * Min Deposit
   $5
 * Lowest Spread (EUR/USD Pro Account)
   0.6 pips
   
 * Max Leverage
   1000:1

Regulation
CySEC, FSCA, FCA (UK)



Broker Features
 * Lower spreads with Pro account
 * HF Markets SA (PTY) Ltd with FSP No. 46632.
 * 
   MetaTrader Platform
 * 
   ZAR Account
 * Negative: High Leverage
 * ODP status us not approved

Visit Site





















 * Min Deposit
   $100
 * Lowest Spread (EUR/USD Pro Account)
   0.9 pips
   
 * Max Leverage
   400:1

Regulation
CBI, ASIC, FSCA, FSA, FFAJ, ADGM, FSA (Japan)



Broker Features
 * 
   Ava Capital Markets Pty with FSP No. 45984
 * Fixed spreads & No commissions
 * 
   Accepts payments via EFT.
 * Negative: High Leverage
 * Not Approved ODP

Visit Site





















 * Min Deposit
   $5
 * Lowest Spread (EUR/USD Pro Account)
   0.7 pips
   
 * Max Leverage
   888:1

Regulation
ASIC, CySEC, IFSC



Broker Features
 * 
   XM ZA (Pty) Ltd has FSP No. 49976
 * 
   XMZA has ZAR accounts
 * 
   XMZA has Ultra Low Account for Low spreads
 * 
   Negative: High Leverage
 * 
   Not Approved ODP

Visit Site





















 * Min Deposit
   $100
 * Lowest Spread (EUR/USD Pro Account)
   0.1 pips
   
 * Max Leverage
   500:1

Regulation
FCA (UK), CySEC, FSA (Seychelles)



Broker Features
 * 
   Tickmill South Africa (Pty) Ltd FSP 49464
 * 
   Tickmill has ZAR Accounts. Accepts EFT Transfers.
 * 
   Negative: High Leverage

Visit Site

















Risk Disclaimer

CFDs are complex instruments and come with a high risk of losing money rapidly
due to leverage. The vast majority 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.

TradeForexOnline is a comparison website. We are not in any way related to any
brokers listed on our website. We may earn a commission if you signup & trade
with some of the brokers on our website. This does not affect our review
process. We only review the brokers that are licensed in each region.

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