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Top 10 Forex Trading Brokers in the World

Published on 6 February 2021

The Forex or Foreign Exchange Market is the biggest, decentralized and most active market to traded currency worldwide.

By far, when a trader looks for the top broker, both experienced and beginners look for several keys, advantages, benefits, features and cons. Among all, regulation, languages, offices, account, platforms, fees, spread, leverages, bonuses, client support etc.

So, to look for all these things you need a day or a few days or a couple of weeks that annoying. We (our experts) researched more than 35 hours, and from our over 8 years’ experience, we made a list.

Top 10 Forex Trading Brokers

  1. HotForex

  2. FortFs

  3. RoboForex

  4. InstaForex

  5. Axiory

  6. InvestLite

  7. GrandCapital

  8. TickMill

  9. M4Makets

  10. CedarFX

HotForex Broker

 

Best For:  multi-asset brokers in overall platform & PAMM account.

Regulation: CySEC, FCA, DFSA, FSCA

Minimum Deposit: $5

HotForex is a multi-asset and a regulated broker. The company was founded in 2010. They offer Meta Trader trading platform and over 600 trading instruments and currencies.

Pros

6 type of accounts

Micro and Islamic account

$0 fees and 100% bonus offerings

Cons

No proprietary platform

No underlying asset like buying bitcoin

Three entities based in offshore zones

 

FortFs Broker

 

Best For: Beginner and Expert traders

Regulation: IFSC

Minimum Deposit: $5

FortFS or Fort Financial Services Ltd was founded in 2010. It is an award-winning broker. Their main focus in Asia, with the worldwide client. They offer bot MT4 & MT5 platform, and Ninja trader platform. FortFS offers bonuses and contests regularly.

Pros

Offers Managed account

MT4, MT5, CQG or NinjaTrader platforms

Social and Copy trading service

Good market analysis and research

Cons

Clients from the USA are not accepted.

 

RoboForex Broker

 

Best For: overall good brokers

Regulation: CySEC, IFSC

Minimum Deposit: $10

RoboForex is a well-regulated and Multi-award-winning broker. They are providing services for 12 years. The broker was founded in 2009, currently more than 1 0,000 users and traders using RoboForex. You can choose MT4, MT5, cTrader, WebTrader, Mobile Trader, R Trader platform for trading.

Pros

Amazing trading platforms

Welcome deposit bonus $30

Well-regulated and award-winning broker

Variety of trading instruments and payment methods

Cons

Doesn’t accept US and Japan Clients

No cryptocurrency for trading

 

InstaForex Broker

 

Best For: bonuses and beginners

Regulation: CySEC

Minimum Deposit: $1

Instaforex was established in 2007. The ECN based broker offers over 200 different assets in 5 asset class. The headquarter is located in Russia. The broker offers Advanced Financial Chart comparison tools and 15 different languages support.

Pros

Financial Ombudsman Service

A lot of bonuses and contests

Negative Balance Protection

Cons

Not listed on Stock Exchange

Cent account fees are high.

 

Axiory Broker

 

Best For: technology

Regulation: IFSC

Minimum Deposit: $50

Axiory was established in 2012., this broker claims the best technology ever. They offer 3 account types with flexible trading conditions. You can trade 60 forex pairs, CFDs, gold, oil, stock indices, silver and other precious metals at MT4 and cTrader platforms.

Pros

The maximum leverage is 1:777

Modern & user-friendly technology

Axiory Trading Academy & strike indicator

Cons

No multi-currency accounts

Doesn’t support US clients

Not listed on Stock Exchange

 

InvestLite Broker

 

Best For: client support

Regulation: IFSC

Minimum deposit: $250

InvestLite is a brand new CFDs and forex broker. They offer 3 types of account and MT4 trading platform. They offer good client support and a wide range of payment method for users.

Pros

Amazing client support

A wide range of payment method

More than 30 cryptocurrencies

Cons

Free VPS available only for platinum clients

 

GrandCapital Broker

 

Best For: service, instruments, funding

Regulation: FinaCom

Minimum Deposit: $10

Grand Capital is an innovative forex broker that was founded in 2006. The headquarter is located in Russia. They offer tight spread, fast order execution, fast withdrawal with various payment methods and a wide range of trading instruments.

Pros

A variety of trading instruments

15+ Different languages

LAMM and RAMM Service

Cons

Not well-regulated broker

Doesn’t support US clients

 

TickMill Broker

 

Best For: trading service

Regulation: CySEC, FCA, FSA

Minimum Deposit: $100

TickMill is global online brokerage offer Forex and CFD’s trading service. They are operating since 2014 and regulated by the Financial Conduct Authority, top tier authority.

Pros

Fee free deposit and withdrawal

Competitive Spreads (low end)

Scalping & Hedging

Cons

Few account base currencies

No Choice of Platforms

No Individual Stocks

 

M4Markets Broker

 

Best For: features

Regulation: FSA

Minimum Deposit: $50

M4Markets is owned and operated by the Trinota Markets Limited. The broker was founded in 2019. They offer all types of trading assets via MT4 and MT5 platform.

Pros

Lots of trading assets

Both MT4 & MT5 platform

Commission-free trading available

Access to raw, interbank spreads

Cons

Limited trader education

 

CedarFX Broker

 

Best For: Eco Friendly Broker

Regulation: CySEC

Minimum Deposit: $10

CedarFX is owned and operated by the Cedar LLC. It is brand new and world’s first Eco-Friendly broker. They offer 55+ FX pairs, 35+ Crypto pairs and 170+ trading assets.

Pros

Zero Commission Account

Ecological Awareness Account

Good Customer Support

Cons

No social or copy trading

No PAMM and Swap free account.

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