Forex trading can be very rewarding, if you do it right. How do you do it right? By being disciplined, by sticking to your trading plan, and by using the right broker. Not just any broker but a top forex broker.

After practicing with a demo account and backtesting your strategy, it is now time to get a real account and start making money. You must choose a broker that has your best interests at heart, a broker that is regulated and has a track record of reliability.

Here we will be sharing a list of top forex brokers to help you achieve success in your trading career.

RankBrokerFeaturesFoundRegulatedWebsite
1.

Exness

  • Minimum Deposit: $1
  • Max.Leverage 1:2000
  • Spread from 0.0 Pips
  • Head Office: Cyprus
2008

FCA, FSA, CySECVisit
2.

FBS

  • Minimum Deposit: $1
  • Max.Leverage 1:3000
  • Spread from 0.0 Pips
  • Head Office: Belize
2009

IFSC, CySECVisit
3.

Octafx

  • Minimum Deposit: $100
  • Max.Leverage 1:500
  • Spread from 0.1 Pips
  • Head Office: UK
2011

FCA, FSAVisit
4.

IC

BDSwiss

  • Minimum Deposit: $100

  • Max.Leverage 1:500

  • Spread from 0.2 Pips

  • Head Office: Cyprus

2012

Europe (CySEC)Visit
5.

aafx

AAFX

  • Minimum Deposit: $100

  • Max.Leverage 1:2000

  • Spread from 2 Pips

  • Head Office: St.Vincent

2014

FCA,FSCA, CySECVisit
6.

ICMarkets

  • Minimum Deposit: $200

  • Max.Leverage 1:500

  • Spread from 0.1 Pips

  • Head Office: Australia

2007

ASICVisit
7.

PaxForex

PaxForex

  • Minimum Deposit: $10

  • Max.Leverage 1:500

  • Spread from 0.4 Pips

  • Head Office: St.Vincent

2010

SVGFSAVisit
8.

fxchoice

FxChoice

  • Minimum Deposit: $100
  • Max.Leverage 1:200
  • Spread from 0.5 Pips
  • Head Office: Belize
2010

IFSCVisit
9.

tradersway

TradersWay

  • Minimum Deposit: $100
  • Max.Leverage 1:500
  • Spread from 0.1 Pips
  • Head Office: Dominica
2011

FCA, FSAVisit
10.

Grand Capital Logo

GrandCapital

  • Minimum Deposit: $10
  • Max.Leverage 1:500
  • Spread from 1 Pips
  • Head Office: St.Vincent
2006

FFMSVisit
11.

JustForex

  • Minimum Deposit: $1

  • Max.Leverage 1:3000

  • Spread from 0.1 Pips

  • Head Office: Belize

2012

IFSC Visit

When choosing a broker, there are some key factors you must first consider. Factors like the trading fees, regulating body, reliability, customer service, trading resources available, and so on. We will go over the key factors now.

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Qualities of Top Forex Brokers

Trade Execution

What you want is a broker that fills your orders as quickly as possible. This way your orders get filled at the exact price you want.

Regulation

To put this plainly, stay away from non-regulated brokers. Regulated brokers are secure because if any issues arise, the regulating body will take up the case and get you your money.

Tight Spread

Go for a broker that offers tight spreads and charges little commission. The trading fees make a significant impact on your bottom line especially as a new trader.

Customer Service

You need a broker that is available 24/7 to reply to your queries. Top forex brokers have excellent customer service and are always willing to help their clients iron out any kinks.

Markets offered

As a beginner, you probably won’t be trading so many instruments in various markets. However, as time goes on, you will want to diversify into other markets. Choosing a broker that allows you to trade as many instruments as possible is key.

Types of Top Forex Brokers

In general, forex brokers can be grouped into 2 broad categories; a dealing desk broker, and a non-dealing desk broker. Non-dealing desk brokers can further be divided into straight-through processing (STP) brokers and Electronic Communication Networks (ECN) brokers.

Dealing Desk Brokers (Market Makers)

Market makers are brokers that trade against you. This means that if you place a buy, they place a sell. If you place a sell, they place a buy. If you lose, they win. Despite how this may sound, market makers are not ‘bad guys’. In fact, opening a forex account with a market maker is sometimes beneficial to beginner traders.

Non-Dealing Desk Brokers

Straight Through Processing. This type of broker routes your orders to liquidity providers who are connected to the interbank market. These brokers make money by increasing the spread a little bit.

Electronic Communication Network

This type of broker sends your orders directly to the ECN, where it can be filled by other players in the ECN. ECN brokers make money by charging you are commission.

These 3 types of brokers all have their advantages and disadvantages. We will help you sort out the best from the rest. Check out our top list of forex brokers.

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