List of the best 20 Forex Brokers – Trusted Review

Are you looking for a good and serious Forex broker? – Then this page is the right place for you. Thanks to the large selection on the Internet it is often difficult to make the right decision. With more than 7 years of experience in the financial markets, we present you the cheapest providers with top service and without hidden costs. Find out in the following texts how to select a security provider and which online broker offers the best conditions.

Broker:Review:Regulation:Spreads:Assets:Advantages:Open Account:
1. Tickmill
5 out of 5 stars (5 / 5)
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FCA (UK), CySEC (EU), FSA (SE)Starting 0.0 pips + 1$ commission per 1 lot84++ Best conditions
+ Best execution
+ Personal service

2. BDSwiss
5 out of 5 stars (5 / 5)
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CySEC (EU), FSC (MAU)Starting 0.3 pips250++ Individual offers
+ Trading signals
+ Personal service

3. XM Forex
5 out of 5 stars (5 / 5)
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FCA (UK), CySEC (EU), ASIC (AU)Starting 0.0 pips + 3.5$ commission per 1 lot1000++ Huge varierity
+ Micro accounts
+ Daily webinars

4. Vantage FX
5 out of 5 stars (5 / 5)
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ASIC (AU)Starting 0.0 pips + 2$ commission per 1 lot120++ Good conditions
+ ECN Broker
+ Personal service

5. IC Markets
5 out of 5 stars (5 / 5)
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ASIC (AU)Starting 0.0 pips + 3$ commission per 1 lot232++ Good conditions
+ ECN Broker
+ High liquidity

6. ATFX
5 out of 5 stars (5 / 5)
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FCA (UK)Starting 0.6 pips variable100++ High security
+ NDD Broker
+ Good support

7. RoboForex
5 out of 5 stars (5 / 5)
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IFSC (BE)Starting 0.0 pips + 7.5$ commission per 1 lot9000++ Huge varierity
+ Micro accounts
+ Bonus program

8. Admiral Markets
5 out of 5 stars (5 / 5)
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FCA, ASIC, CySEC, EFSAStarting 0.6 pips variable3000++ Multi-regulated
+ Huge variety
+ Special offers

9. FXCM
5 out of 5 stars (5 / 5)
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FCA, AFSL, FSCAStarting 0.2 pips variable100++ NDD/ECN Broker
+ High liquidity
+ Institutional service

10. Pepperstone
5 out of 5 stars (5 / 5)
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FCA, ASICStarting 0.0 pips + 7$ AUD commission per 1 lot150++ Fast execution
+ Large FX Broker
+ Good service

12. Olymp Trade
5 out of 5 stars (5 / 5)
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IFCStarting 0.0 pips + 15% commission200++ Trade with 1$
+ Options and Forex
+ Bonus program

13. Binary.com
5 out of 5 stars (5 / 5)
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VFSC, FSC, FSAStarting 1.0 pips variable100++ Trade with 1$
+ Options & Forex
+ Broker since 1999

11. FxPro
4.9 out of 5 stars (4.9 / 5)
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FCA, CySEC, FSCA, DFSA, SCBVariable 0.0 pips250++ High liquidity
+ NDD Broker
+ No requotes

14. XTB
4.8 out of 5 stars (4.8 / 5)
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More than 10Starting 0.0 pips + 3.5$ commission per 1 lot3000++ Huge varierity
+ Good platform
+ Best service

15. InstaForex
4.8 out of 5 stars (4.8 / 5)
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CySEC (EU), BVI FSCStarting 0.0 pips + 0.02% – 0.07% commission per 1 lot300++ Good conditions
+ Personal service
+ Bonus program

16. Alpari
4.8 out of 5 stars (4.8 / 5)
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FSC, FCStarting 0.4 pips variable250++ Broker since 1998
+ Bonus program
+ NDD and ECN

17. HotForex
4.8 out of 5 stars (4.8 / 5)
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More than 6Starting 0.0 pips + 3$ commission per 1 lot150++ Multi-regulated
+ Account types
+ Good service

18. AvaTrade
4.8 out of 5 stars (4.8 / 5)
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More than 6Starting 0.8 pips400++ Fixed spreads
+ Option trading
+ Personal service

19. AxiTrader
4.7 out of 5 stars (4.7 / 5)
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FCA, ASIC, DFSAStarting 0.0 pips + 3.5$ commission per 1 lot80++ Multi regulated
+ Fast execution
+ High security

20. FBS Forex
4.5 out of 5 stars (4.5 / 5)
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IFSC (BE), CySEC (EU)Starting 0.0 pips + 6$ commission per 1 lot250++ Micro accounts
+ Personal service
+ Bonus program

Strict criteria for the Forex Broker Review

In contrast to many other comparison sites, we present you on this website really the safest providers with the best conditions for traders. As traders with many years of experience, we have tested many Forex Brokers and still use some of them. A good provider should have certain characteristics that guarantee good and safe investing.

It is not uncommon to hear of fraud on the Internet. This is to be avoided with this comparison. In addition, one would like to save fees as a trader, because the costs for the trade reduce of course the actual profits. Also, the security of customer money is of high priority. A regulation or license, for example, is urgently needed for secure trading with European brokers. All these criteria and many more are included in the test. Therefore we can present you on this page the best Forex Brokers 2019.

Proven facts for a good Forex Broker: 

  • Regulation and license of an official finance authority
  • Safety of customer funds
  • Good markets execution
  • Small Forex Trading fees and no hidden fees
  • No requotes (high liquidity)
  • User-friendly trading platform
  • Free and unlimited demo account
  • Professional support
  • Fast deposit and withdraw methods

How does a Forex Broker work?

A Forex Broker is an intermediary between a client (trader) and the interbank market for currencies (Wikipedia). In addition, the broker can lend capital to the trader so that he can trade with leverage. The broker’s income is generated by the spread and the cost of financing the leveraged positions.

There are 2 different models of brokers: Market Maker and ECN/NDD Broker

Market Maker:

This broker does not place the trader’s orders directly into the real interbank market. There is an internal matching system between the positions of the traders. In addition, the broker can hedge himself on the real markets so that there are no distortions in supply and demand. In most cases, this system is very opaque and only as a broker employee you know the exact functions.

ECN/NDD (Non Dealing Desk) Broker:

ECN means direct access to the interbank market through various liquidity providers. These are large banks or very large Forex Brokers. The provider places the trader’s orders directly into the real market. So the customers get direct and real market prices for trading. With this model, there is no conflict of interest between trader and broker.

Only trade with regulated and licensed Forex Brokers

Security has the highest priority in online trading. When it comes to trading leveraged financial products, you have to be able to trust the Forex Broker. It is not uncommon for large sums of money to be used to generate a large profit. For example, brokers in the EU must have regulation or license if they want to offer their services. The regulation can be in any European country. The same or almost the same requirements apply to brokers everywhere. In order to avoid fraud, it is important to look for such a license.

Licenses are only issued under certain conditions and criteria. If a broker violates these conditions, the license may be withdrawn immediately. All tested companies of mine are always concerned to keep the highest criteria and to guarantee a safe trade. Many brokers, for example, are regulated in Cyprus. This has tax advantages. Nevertheless, there are also Forex Brokers with more than one regulation. The various regulatory authorities can be seen in the table above.

Facts of reliable and secure companies:

  • Regulation and license
  • Separated customer funds
  • Regulated deposit and withdrawal methods
  • Using well-known banks

Another important point for serious trading is the security of customer funds. Payouts of winnings or the deposited amount should work smoothly. It was not uncommon for some brokers to speculate on customer funds themselves. In the end, withdrawals were refused or delays occurred.

The risk of Forex Trading

Forex trading is managed by leveraged financial products. That means you are able to trade a bigger contract size than the amount of money in your account. Some brokers offer the leverage up to 1:3000. Many traders are afraid of the obligation to make margin calls and this is not without reason as the past has shown. Account balances could slip into the negative balance. This is possible due to extreme market situations and too large a position size in relation to the account balance.

The providers shown above all have no obligation to make additional contributions (except IC Markets and Vantage FX). With the providers in the upper table, you are therefore protected against such a scenario. In our experience, this can only happen if the account is too heavily leveraged. You should always beware of sensible risk management.

Note:

Beginners should always start with the free demo account to practice Forex Trading.

A demo account is essential for successful trading. The trading column form and conditions can be tested extensively with this account. It is a virtual credit account that simulates real money trading. It can be traded without risk. This means that new strategies can be developed or new markets tested. The demo accounts of the compared providers are completely free and unlimited. This account is best suited for the entry into forex trading.

How to deposit and withdrawal money

For most traders, the first deposit into their account is very exciting. It should work smoothly and be highly secure. Forex Brokers offer well-known and proven payment methods. Capitalize the trading account with electronic methods (credit card, e-wallet, PayPal, crypto) or with the classic way of bank transfer. Electronic methods work in real time and the money is credited directly to the trading account. Trading can be started immediately. The minimum deposit at the compared brokers is very low. For example, you can open an account from as little as 1$. If this is worth it, you have to decide for yourself. There are no fees for the deposits.

The payout is also very uncomplicated. With a few clicks, you can request a withdrawal in the menu. This is then released in 1-3 working days. However, most brokers payout customer money in less than 24 hours. All presented brokers passed this test. The fees can be a bit high for small payouts. With payments over 200$, the Forex Broker takes over the fees.

Facts about the payments:

  • Instant deposit of money
  • Fast withdrawal within 1 – 3 working days
  • Electronic Methods (Skrill, Neteller, PayPal, and more)
  • Cryptocurrencies
  • Bank wire

Not every country is available

Not every country is available for Forex Brokers and trading. This is because there are some restrictions and special regulations. For example, in some countries, an international broker needs a special license for that specific country. So it is too much afford for some companies to get the license and they stop taking clients from these countries. You can clearly see on the homepage which clients they accept. Not many brokers accept clients of the United States of Amerika.

From my experience, the fastest growing countries are in Africa and Asia. Because of the development of mobile internet, more people get connected to the forex market. India, Nigeria, Philippines, Malaysia, and China are at the moment the fastest growing countries.

Is forex trading legal?

Forex Trading is fully legal if there is not any ban from the government. Forex trading is just changing money into another currency. This is not an illegal practice. The brokers on my review got official regulations so they act fully legal.

Review conclusion: Start trading with a reliable Forex Broker

On this page, we have presented you with my current list of the top 20 Forex Brokers in comparison. Now you have a selection of good and reputable companies in front of you. It was particularly important to us that we only present providers here, which we have tested by ourselves with real money. This is not the case with most comparisons.

Profit now from the most favorable fees and the best conditions by my experience of many years. With these providers, you are 100% safe and can take your Forex trading to the next level.

We hope you could learn something in this comparison and act now with better providers through my recommendations. If you can’t make up your mind, please also read the reviews.

Successful Forex Trading requires a good and reliable broker. In this review, we showed you the top 20 Forex Brokers. Now start to get your earning with the best conditions to trade with.

Trusted Broker ReviewsExperienced and professional traders since 2013