Table of Contents
On this page, we will present the ranking list of Forex brokers. Creating a top list of forex brokers is challenging because most offer the same platforms, instruments, payment methods, and excellent client support. However, some brokers have a comprehensive list of restricted countries; some have problems with payment delays, and some make mistakes in communication with traders. Because of that, we created this list that presents personal opinions.
This rating list will change in the future. Many of these brokers are the largest forex brokers with a strong reputation. We apologize to all brokers who do not have a high grade and deserve it.
Best Forex Brokers Ranking Table
| Forex broker Review | Visit | Min. lot size | Max. leverage | Min. deposit | Grade |
|---|---|---|---|---|---|
HFM | VISIT HFM | 0.01 | 1:1000 | $1 | 99 |
Avatrade | VISIT AVATRADE | 0.01 | 1:400 | $1 | 97 |
FxPro | VISIT FXPRO | 0.01 | 1:500 | $100 | 96 |
ActivTrades | Visit ActivTrades | 0.01 | 1:400 | $100 | 96 |
IC Markets | VISIT IC MARKETS | 0.01 | 1:500 | $200 | 95 |
| VISIT EXNESS | 0.01 | 1:2000 | $10 | 94 | |
Dukascopy | VISIT DUKASCOPY | 0.01 | 1:100 | $500 | 93 |
XM.com | VISIT XM | 0.01 | 1:1000 | $5 | 93 |
Instaforex | VISIT INSTAFOREX | 0.0001 | 1:1000 | $10 | 92 |
Alpari.com | VISIT ALPARI | 0.01 | 1:500 | $10 | 91 |
| Octafx review | VISIT OCTAFX | 0.01 | 1:400 | $50 | 86 |
| Easy Markets | VISIT EASYMARKETS | 0.01 | 1:500 | $25 | 81 |
Roboforex | VISIT ROBOFOREX | 0.01 | 1:500 | $10 | 73 |
Forex Brokers Ranking system
Essential criteria in this broker’s ranking system are deposit and withdrawal, client support, spread, bonus, automated trading offers, and platforms. We made several withdrawal tests (several of which we didn’t test). Each Forex broker was tested for chat/email support. I personally test all these brokers, and I have accounts at each Forex broker company.
What is the best forex broker?
HF Markets is the best forex broker for beginners and advanced traders. This broker offers a 100% bonus for non-EU traders, excellent support, tight spreads, and various competitions. Exness is the best forex broker for crypto trading, while Avatrade is the best broker for Islamic countries.
Let us create short reviews for the top 5 forex brokers.
HFM Broker
HFM has over 100 trading instruments, including major, minor, and exotic currency pairings, commodities, indices, and stocks. HFM, in addition to several forms of trading instruments, provides the most popular trading platform: MetaTrader 4. When you start trading with HFM, you will receive a welcome bonus of $30. Its largest liquid market has a daily trading volume of more than $5 trillion. Currency pairings are exchanged in forex trading because the value of one currency is constantly related to another.
To read the complete HFM Review, visit our page.
If you are a new client, you can see an excellent dashboard from which you can manage funds, apply to competitions, trade various products, monitor accounts, etc.
HFM trading products:
- Forex
- Metals
- Energies
- Indices
- Shares
- Commodities
- Bonds
- Stocks DMA
- ETFs
- Cryptocurrencies
HFM payment methods:
- Wire transfer
- Mastercard
- Visa card
- FasaPay
- Neteller
- Skrill
- PayRedeem
- Webmoney
- Bitpay
So, HFM (HotForex) is a Forex Broker owned by HF Markets that provides the MetaTrader 4, MT4 Mobile, and WebTrader online trading platforms. CySEC regulates HFM in Europe and by the FSC in Mauritius. It is one of Asia’s most popular forex brokers and has steadily grown its client base worldwide since its launch in 2010.
HFM offers many account types to traders, including ECN accounts, Zero-Spread Accounts, and VIP Accounts with high leverage and deposit requirements. The broker also offers Islamic accounts and managed accounts. In addition, HFM provides a variety of trading instruments, including forex pairs, indices, commodities, metals, bonds, energies, and stocks.
The broker does not charge fees for deposits or withdrawals but fees for inactive accounts after six months of no activity. There are also charges for holding a position overnight in some account types. Furthermore, there is a fee for withdrawing more than three times within one month and withdrawal charges incurred from intermediary banks.
HFM offers its clients five account types: Micro Account, Premium Account, VIP Account, Auto Account, and Zero Spread Account. The minimum deposit for a Micro Account is $5; for a Premium Account, $500; for a VIP Account, $20 000; for Auto, $25 000; and for Zero Spread, $200. The minimum trade size is 0.01 lots, and the maximum leverage is 1:1000.
Forex and CFDs are leveraged products that can result in losses greater than your initial deposit. Therefore, it’s inevitable and sad to say that the well-known Forex and CFDs may not be as suitable as they may sound for all investors. Always remember to only invest with money that you are willing to lose. So please be sure you have entirely comprehended the hazards involved, as there is no going back once you’re in. If required, seek independent guidance.
HFM broker advantages:
- Ten types of trading products
- 100% bonus for non-EU and non-US clients
- Various deposit and withdrawal options
- Zero spreads offer
- Islamic accounts
- Excellent support
As a loyal customer, I believe the HFM broker has some advantages I discovered during the last 10 years. First, all numerous deposit and withdrawal payment methods are free of charge except wire transfers. Then, I had no problem with customer support, payments, withdrawals, or trading platforms. Finally, zero spread and low commission accounts decrease my trading cost enormously. You can try this broker for sure.
Avatrade Broker
Avatrade is a safe and reliable broker with years of experience helping people take their first steps in investing. They offer many options, including currency pairs and cryptocurrency, to decide where your money goes and how it grows. And they’re available to help you with questions or concerns, so you always have an expert there to guide you through the process.
To read the complete Avatrade Review, visit our page.
AvaTrade is a broker that allows you to trade the financial markets on a CFD and Spread-betting basis. You can trade across asset classes from Forex, Spot Indices, Commodities, Spot Metals, and Share CFDs.
With AvaTrade, you can trade over 250 financial instruments, including stocks, indices, commodities, forex pairs, Bitcoin, Ethereum, and Ripple. You can open a trading account in the Euro, US Dollar, Japanese Yen, or Australian Dollars.
You can choose from three account types:
- Micro Silver: Minimum deposit of $100; 24/5 customer support; free trading alerts; dedicated account manager; access to Daily Market Analysis.
- Standard Gold: Minimum deposit of $1000; 24/5 customer support; free trading alerts; dedicated account manager; access to Daily Market Analysis and Trading Central Analysis Tools.
- Platinum VIP: Minimum deposit of $10000; 24/5 customer support; free trading alerts; dedicated account manager and personal analyst; access to Daily Market Analysis and Trading Central Analysis Tools.
The minimum deposit depends on your account type (between $100 and $1,000). Each account type has access to different trading tools, resources, and varying levels of support.
To open an account, visit their website and select the ‘Open Account’ button. You will then be prompted to fill out the form with your details. Once you have completed this step and accepted the terms & conditions, you must verify your email address by clicking on the link sent to you by AvaTrade. Upon completing these steps, your account will be created, and your funds can be deposited.
Avatrade has other nifty features, like an educational center with videos and books, real-time charts, and live market news. They also don’t charge fees or commissions, so I can make more money on my investments.
Below is presented my Avatrade dashboard:
Avatrade has an advanced platform that’s easy to use, making it simple to diversify portfolios and take advantage of every opportunity one can come across. If you’re looking for an online broker and haven’t tried AvaTrade yet, you should try them.
FxPro Forex Broker
FxPro is a forex broker founded in 2006. It has over 200,000 customers and is registered in the U.K. FxPro offers trading services on over 250 financial instruments, including currencies, indices, commodities, shares, and futures.
To read the complete FxPro Review, visit our page.
With FxPro, you can trade on up to 10,000 CFD instruments, including:
- Forex – Major, minor, and even the most exotic currency pairs one could ever think of
- Shares – 1,200 shares across eight international exchanges
- Indices – Over 15 significant indices worldwide
- Metals – Gold, Silver, Platinum, and Palladium
- Energies – Brent Crude Oil and WTI Crude Oil
Trading with FxPro is easy. You can use the MetaTrader 4 or MetaTrader 5 platforms for desktop, browser, or mobile. Or, if you prefer cTrader, you can use it on the web or mobile.
With FxPro, you get:
- Access to various CFD instruments from one account
- Access to global exchanges
- Negative Balance Protection (NBP)
In addition to their trading platform, Fxpro offers a demo account, market analysis, and an education center to help traders learn about forex markets and gain trading knowledge.
Below is presented my user FxPro dashboard:
The MT4 and MT5 platforms offered by Fxpro offer traders the option to trade with the ECN (electronic communication network) or STP (straight-through processing). Trading through the ECN allows clients to trade directly with other market participants, while STP will enable clients to trade in a bank account.
The Fxpro website also features tutorials on using the trading platforms and information on setting up a demo account.
This is an award-winning broker that has won several awards. In 2016, they won Best Broker in Western Europe at the World Finance Awards, their second consecutive win. They received the Best FX Broker award from Shares Magazine for three straight years, from 2014 to 2016. In 2015 and 2016, they won Best Forex Provider at the UK Forex Awards.
In addition to their awards, Fxpro has been recognized by Investors in People with a Gold Award for investing in their people, which is one of only 2% of businesses. They are also CIPD-accredited members of the British Chamber of Commerce and Pro Elite (Professional Elite).
With over ten years of experience, FxPro has been in the forex industry for a while now. They offer MetaTrader 4 and 5 and cTrader, which are perfect trading platforms. Their minimum deposit is $100, and they have excellent customer service. It differentiates them from other brokers because they offer fixed and variable spreads. Fxpro offers different account types; for instance, micro accounts are for those who want to try out the broker without investing too much money, and standard and professional accounts are for experienced traders who wish to access more features.
ActivTrades Review
ActivTrades is stringently regulated by several international financial authorities, ensuring high security and transparency. Its entities are overseen by regulatory bodies such as the FCA in the UK, the SCB, CSSF, CMVM, BACEN, and CVM. This diverse regulatory framework underscores ActivTrades’ commitment to providing a trustworthy and compliant trading environment.
I like that at ActivTrades, forex spreads start as low as 0.5 pips, offering traders competitive pricing for their currency trades. This tight spread structure reduces trading costs and potentially improves profit margins for traders.
Spreads Advantages:
- Competitive Pricing: ActivTrades boasts tight spreads, which can significantly reduce trading costs, potentially leading to better profit margins for traders.
- Transparency: With a transparent fee structure and a focus on offering cost-effective solutions, traders can be confident that there are no hidden charges.
Platforms Advantages:
- Diverse Choices: By offering multiple platforms, such as TradingView, MT4, MT5, and its proprietary ActivTrader, ActivTrades caters to various trader preferences and strategies.
- Versatility for All Levels: The range of platforms ensures that traders of all skill levels find a suitable environment to execute their strategies, from beginners to seasoned professionals.
Advantages of ActivTrader Platform by ActivTrades:
- Customization: As ActivTrades’ proprietary platform, ActivTrader is tailored to offer a unique trading experience, harmonizing with the broker’s core services and client needs.
- Cutting-edge Interface: The platform showcases a contemporary design, skillfully blending aesthetics and user-friendly features for optimal trading.
- Advanced Charting Tools: ActivTrader has sophisticated charting capabilities, enabling traders to delve deep into market analysis and even initiate trades straight from the charts.
- Instant Price Alerts: Users can set timely alerts for crucial price shifts, ensuring they’re always in the loop and can make informed decisions promptly.
- Seamless Mobile Access: The platform offers a smooth mobile experience, allowing traders to engage with the market anytime.
- Holistic Integration: As an in-house development, ActivTrader is inherently well-integrated with ActivTrades’ range of services, from customer support to account management.
IC Markets Broker
IC Markets was established in Sydney, Australia, as an International Capital Markets company in 2007. Since then, it has become one of the largest and most respected CFD and Forex brokers globally. Our success is driven by our people, who are dedicated to providing clients with the best service, products, and support on their trading journey. They focus on understanding their client’s needs so that they can deliver a genuinely bespoke service.
In 2016, IC Markets launched its True ECN account, which offered spreads from 0 pips with no restrictions on stopping and limiting orders. This revolutionary technology meant traders could trade directly with liquidity providers such as Deutsche Bank and HSBC, resulting in spreads from 0 pips and commissions starting from $3 per lot.
To read the complete IC Markets Review, visit our page.
As if all that wasn’t enough, IC Markets also has one of the lowest minimum deposits for new traders on its cTrader platform: just USD 200! This means you can get started with less risk than other platforms require (without worrying about hidden fees).
IC Markets offers a variety of tools and features to help traders. These include dedicated social and copy trading accounts, which are becoming increasingly common brokers’ offerings. In addition to offering access to many of the most popular cryptocurrencies, this company also has shares, metals, indices, and energies.
IC Markets offers two main types of accounts: the standard version and the cTrader account. The standard account allows traders to choose between commission-free trading with spreads starting at 0 or commission-based trading with raw spreads starting at 0 pips. The cTrader account allows traders to trade through introductory pricing on one of today’s most popular ECN platforms.
Exness Broker
The company, Exness, has been operating for over 10 years. During this period, the exchange was awarded and recognized many times, including customer satisfaction rankings, its success in overall trading technology, and sponsoring multiple national and international organizations, bringing us closer to our goals by being active partners with them today!
Exness Trading Company provides traders with low commissions, instant execution of orders, and withdrawal capabilities. Exness is a global brokerage firm with two main offices in Seychelles and Cyprus. It is regulated by CySEC (Cyprus Securities Commission), FCA(Office Of Financial Regulation And Supervision Great Britain), FSA, and the FSCA.
Exness offers excellent Trading Central analysis for free for all registered users:
With over 80 currency options, Exness offers traders the perfect account for their needs. They feature instant payment methods and provide Standard Cent Accounts, which are great if you’re a smaller trader or just starting in this exciting world of forex trading!
See below the Exness payment methods from my personal Exness dashboard:
You will find many payment methods in the deposit options at Exness. These include bank wire transfers, major credit cards, and e-systems, such as Neteller or Skrill, for those who want an even lower transaction fee alternative with fewer security risks involved in online transactions! The minimum initial deposit for trading is only 1$.
Withdrawals are free of charge at Exness. Exness offers different withdrawal options, including bank wires and cards, Neteller, Skrill, Crypto, Perfect Money, etc.
Please you can register below:
XM Broker
XM is a global CFD and FX broker founded in 2009. Its vision has always been to give all traders access to great trading conditions no matter where they are located. XM makes this available globally through its regulated entities, including CySEC, ASIC, and FSC.
XM offers The Standard, Micro, and Ultra Low accounts with low commission and leverage up to 1:1000. Please see screenshot:
XM broker guarantees 100% execution of orders, 99.35% delivered nearly instantly; no requotes guaranteed.
XM Broker offers more than 1000 trading instruments, including CFDs on cross rates and metals (including palladium), commodities like gold, silver, cocoa, or cotton, which can be bought through brokers at competitive margins.
XM deposit and withdrawal methods are:
- VISA
- VISA Electron
- Mastercard
- Maestro
- Diners Club International
- UnionPay
- XM Card
- Skrill
- Neteller
- Web Money
- Bank Wire
- Sticpay
XM.com offers a massive $5000 deposit bonus:
You can register below:
Some traders like to get forex bonuses. My article about a free-funded Forex account without a deposit explains this.
InstaForex Best Asian Broker
InstaForex is a well-established company that provides excellent services to clients worldwide. It has operated since 2007 and serves more than 7 million traders worldwide. This shows how much people trust its platform with its advantages, including great technical solutions and educational support from brokers who are there whenever you need them!
InstaForex offers many different trading accounts (Insta. Standard, Insta. Eurica, Cent. Standard, and Cent.Eurica.) for traders who want to take advantage of their markets. InstaForex leverage is up to 1:1000. InstaForex users have no deposit or withdrawal fees.
Instaforex advantages
The most significant Instaforex advantage is excellent forex competitions where traders can win cards up to $ 50,000 cash. You can win the competition and get the Ferrari F8 Tribute!
See below the InstaForex competition rewards:
To learn more and check competitions and current promotions, visit the Instaforex website:
Privacy: Our broker’s reviews include products traded on margin and carry a risk of losses above your forex and stocks selling deposited funds. Trading may not be suitable for all stocks and forex investors. Please ensure that you fully understand the risks involved.