Brokers

Forex Brokers
Gaining direct access to the Foreign Exchange market..

A Forex broker is a financial company that provides access to the Foreign Exchange market through a trading platform. By openning a simple trading account retail traders can buy and sell Forex currencies

How to Choose Forex Brokers

The most important issue when opening a Forex trading account is to make sure that your funds are protected.

FUNDS SAFETY

  • Reliable brokers maintain headquarters in a safe country (not offshore) and operate for more than 2 years in the market
  • Regulation by a trustable authority such as FCA UK enhances funds' safety
  • The segergation of the client's funds is 100% required
  • The client's compensation scheme in case of insolvency is a very important issue

TRADING FEES

  • Trading spreads on EURUSD should be less than 1.2 pip without trading commissions
  • The overnight rates should be very competitive, especially as concerns position traders
  • There are brokers charging withdrawal fees and some others may charge maintenance (inactive) fees

TRADING OPTIONS

  • Demo accounts and micro-lot accounts are very useful to Forex beginners
  • The more funding methods available the better (credit cards, internet wallets, crypto, etc.)
  • The available platforms should at least include the industry's standard MT4 trading platform
  • A wide Forex asset index also adds value to a trading account

Compare Foreign Exchange Brokers

Table: Brokers for trading Forex currencies


BROKER CORPORATE INFO TRADING TERMS ACCOUNTS INFORMATION

ROBOFOREX

RoboForex Review

□ EXECUTION MODEL: STP/ECN

  • TIGHT SPREADS & FAST EXECUTION
  • FREE VPS FOR AUTO-TRADING
  • MT4, MT5, cTrader, and R StocksTrader

» The RoboForex Website

□ Company Foundation: 2009

□ Licensed: IFSC, license IFSC/60/271/TS

□ Segregated Bank Accounts: Yes

□ US Clients: No

□ Islamic Accounts: Yes

□ Spread EURUSD: 0.9 Pip

□ Commissions: No
 
□ Max Leverage: 30:1 (EU) to 500:1

□ Minimum Account: $10

□ Promotion:

  • Free VPS
  • $30 No-Deposit Bonus
  • Welcome Bonus
  • Good for day-trading
  • MT4, MT5, cTrader, and R StocksTrader platforms
  • Welcome Bonus and free VPS
 
 

FTX EXCHANGE

FTX

□ EXECUTION MODEL: DERIVATIVES EXCHANGE

  • FOREX, STOCKS, FUTURES, OPTIONS, CRYPTO
  • INSTITUTIONAL GRADE OTC DESK

» The FTX Website

□ Company Foundation: 2015

□ Licensed: (N/A)

□ Segregated Bank Accounts: Yes

□ US Clients: No

□ Islamic Accounts: No

  • For futures, fees are always charged in USD.
  • For spot,
    • Maker order fees are taken in the proceeds currency- in the currency that you receive:
    • The taker order fees are in the quote currency, regardless of whether you are buying or selling.

□ Minimum Account: $1

Crypto Deposits, Credit Cards, Bank Wire,  Silvergate

□ Promotion:

  • Discounted trading fees for FTT holders
 
  • Futures & Options
  • Forex, Stocks, and Crypto trading

 

» The FTX Website

» The FTX Review

LQDFX

LQDFX is an ECN STP Forex broker offering a wide Forex asset index, MT4, and automated trading

□ EXECUTION MODEL: STP/ECN

  • PAMM ACCOUNTS
  • WELCOME BONUS

» LQDFX Accounts

□ Company Foundation: 2019

□ Licensed: (N/A)

□ Segregated Bank Accounts: Yes

□ US Clients: No

□ Islamic Accounts: Yes

□ Spread EURUSD: 1.1 Pip

□ Commissions: NO
 
□ Max Leverage: 30:1 (EU) to 500:1

□ Minimum Account: $50

□ Promotion:

  • 100% Welcome Bonus
  • 20% Deposit Bonus
  • Welcome Bonus
  • PAMM Accounts
 

FXOPEN

FxOpen is a multi-featured Forex broker offering automated trading and PAMM accounts.

□ EXECUTION MODEL: STP/ECN

  • PAMM ACCOUNTS
  • PROMOTIONS
  • MT4, MT5

» FxOpen Accounts

□ Company Foundation: 2005

□ Licensed: FCA UK and FSP (NZ)

□ Segregated Bank Accounts: Yes

□ US Clients: No

□ Islamic Accounts: Yes

□ Spread EURUSD: 0.2 Pip

□ Commissions: $5 / full traded lot
 
□ Max Leverage: 30:1

□ Minimum Account: $10

□ Promotion:

  • No Deposit Forex Bonus
  • ForexCup contest
  • ECN PAMM Accounts
  • Good Promotions
 

AXI

AXI RATING USING FORMULA V.4.0

□ EXECUTION MODEL: STP/ECN

  • MT4, AUTOCHARTIST
  • FIX/API

» AXI Review

□ Company Foundation: 2007

□ Licensed: FCA UK and ASIC (Australia)

□ Segregated Bank Accounts: Yes

□ US Clients: No

□ Islamic Accounts: Yes

□ Spread EURUSD: 0.1 Pips

□ Commissions: $7 / full traded lot
 
□ Max Leverage: 30:1

□ Minimum Account: $10

□ Promotion:

  • Free VPS
  • Autochartist
  • PsyQuation
  • Good for intraday trading
  • FIX/API and Free VPS
  • PAMM Accounts