List of registered forex brokers

Still not sure which forex broker is right for you? Our broker matching tool can help you choose the right broker by assessing your location, trading preferences, skill level and other determining criteria.

Click here to get help choosing a broker. The following is a comprehensive forex brokers list. You can rest assured that the broker reviews listed below were conducted with the utmost level of professionalism and objectivity. It is highly recommended that you read them, open a demo account with several different forex brokers, and only then begin trading the forex market.

Forex brokers list

The following is a comprehensive forex brokers list. You can rest assured that the broker reviews listed below were conducted with the utmost level of professionalism and objectivity. It is highly recommended that you read them, open a demo account with several different forex brokers, and only then begin trading the forex market.

You might also be interested in our top brokers list for 2021.

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Forex trading courses

Want to get in-depth lessons and instructional videos from forex trading experts? Register for free at FX academy, the first online interactive trading academy that offers courses on technical analysis, trading basics, risk management and more prepared exclusively by professional forex traders.

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Risk disclaimer: dailyforex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of dailyforex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

FCA regulated forex brokers

The UK as one of the most reputable financial world centers throughout its stability, strong economic and political positions have always been an attractive destination to conduct financial services firm. Along with that, the UK keeps an excellent level of overall regulatory system and financial regulation itself.

This applies through numerous establishment standards diverted towards the firms’ operating in finance or trading industry. In fact, almost all firms or even individuals offering financial services in the UK have to be authorized by the financial conduct authority (FCA).

FCA is among the most respected authorities within the financial world that aims to protect consumers, enhance market integrity and promote healthy competition that ensured by the range of strictest demands and regulatory protocols to the licensed companies.

The authority is highly active in its supervision tasks, constantly getting involved into each licensed broker operation, checking their performance, follow of guidelines and investigates cases.

Apart from the money protection, FCA directs all brokers to protect the clients in case of insolvency under the FSCS (financial services compensation scheme) with a guarantee of up to £50,000 in compensation.

Furthermore, the FCA developed the comprehensive online portal, which brings all necessary information about brokers, presents freshly updated data and findings that support investors’ choice. Overall, FCA regulated forex brokers providing high protection for any investor or trader, as the obligations towards the regulations are strictly accurate and sharp, which is confirmed by highly respected and regarded status of FCA worldwide itself.

FCA UK (former FSA UK) regulated forex brokers

The list of FCA UK (former FSA UK) registered and regulated brokers:

Update: as of april 1, 2013 the FSA UK has become two separate regulatory authorities:

The financial conduct authority (www.Fca.Org.Uk)	and	the prudential regulation authority (www.Bankofengland.Co.Uk)

FSA UK registry contains authorised and EEA authorised brokers.
As FCA UK takes over, it will now be maintaining the registry, however at this time it simply redirects to FSA UK website: http://www.Fsa.Gov.Uk/register/home.Do

Authorised – is a FSA UK regulated broker. A firm that FSA UK has given permission to carry out regulated activities.

EEA authorised – is a broker that’s been registered with FSA UK, but is regulated in its home country. The EEA authorised status is given to firms that are authorised in another european economic area (EEA) state and been given a “passport” by FSA UK to provide cross border services to UK citizens according to MIFID. These firms are regulated in their home country, and not by FSA UK, although must comply with standards agreed across all EEA countries.

Note from FSA UK site, quote:
“consumers considering or currently doing business with passported EEA firms (‘EEA authorised’), may wish to ask for further information from the firm or its UK branch about its complaints and compensation arrangements. This is because the position may differ compared to a UK authorised firm.” further reference: http://www.Fsa.Gov.Uk/pages/register/use/foreign_firms/index.Shtml

FCA UK regulated brokers (authorised):
HYCM
abshire-smith
activtrades
admiral markets UK
ADS securities london
alpha capital markets
atom8
axitrader UK
CFH clearing
city credit capital
city index
CMC markets UK
CMS forex UK
darwinex
DF markets
ETX capital
FCI markets
FOREX.Com UK
formax prime capital (UK)
FXCM
fxgiants
fxopen UK
fxpro UK
GAIN capital
GKFX
hantec markets
hirose financial UK
house of borse
ICAP
ICM capital
IG markets
IKON markets
interactive brokers (UK) ltd
intertrader
kerford investments (UK)
key to markets
LCG FX
LMAX
london capital group (LCG)
moneycorp markets
nexsus financial markets
OANDA
octafx UK
one financial markets
onetrade
pepperstone
phillipcapital UK
PIPTRADE
plus500 UK
price markets
raphaels bank
RBS – royal bank of scotland
sucden financial
SVSFX
templefx
terafx UK
thinkmarkets
tickmill
tradenext
valbury capital
valutrades
vantage FX
VARIANSE
XTB UK

FCA UK registered brokers (EEA authorised):
ACFX
AFX capital
avatrade
blackwell global (CY)
BMFN
bulbrokers
capital index
citypoint trading
deltastock
finexo
forex time (FXTM)
FOREXYARD
FX global markets (FXGM)
fxnet
FXCC
FXFINPRO capital
IKON group
ironfx
markets.Com
maxfx
MAYZUS
saxo bank
traders trust
trading 212
tradingforex.Com
ufxmarkets
windsor brokers
XGLOBAL markets
XM

Do you know another forex broker who is registered with FSA in UK?
Please suggest by adding a comment below.

About FSA (UK)

The financial services authority (FSA) is an independent body, a single regulator of all providers of financial services in the united kingdom. The FSA regulates most financial services markets, exchanges and firms. It sets the standards that must be met and can take action against firms if they fail to meet the required standards.
The financial services authority regulates financial services in the UK since december 2001.

Requirements for FSA regulated brokers

Forex brokers regulated by the FSA are required to meet a number of industry standards and requirements, in particular:

Ensure about the quality of the bank in which clients funds will be held, and, more over, continue to monitor that quality to be
able to fulfill own regulatory obligations. The bank must be approved by FSA.

Keep client funds separate from company funds, in other words, segregate clients’ deposits, which at no point can be treated
and used as company assets including the situation when the company becomes insolvent.

Submit financial reports to the FSA on the regular basis and undergo detail annual audit etc.

What does this mean for a retail forex trader?

In plain language, this means a higher protection of investments for any individual forex trader.
By being obliged to keep client funds on a segregated account, a FSA regulated broker cannot use clients’ funds to cover own needs, expenses and risks as well as utilise those funds in case of the bankruptcy.
All money received form depositors are treated as “client money” under FSA client money rules.
These rules form one of the most important parts of the UK financial regulatory system related to consumers – they protect consumers in the event of the failure of a FSA regulated company. If a FSA regulated company fails to meet its financial obligations, a liquidator would not be able to use clients’ money to meet claims of general creditors of the failed company. Clients’ funds can only be used to pay out compensation to clients who held deposits with that company.

Investors protection: the compensation scheme

Should the company go out of business and face liquidation, its clients are covered by the financial services compensation scheme (FSCS) – the UK’s statutory fund of last resort for customers of authorized financial services firms. This means that the FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it.

Concerning the forex market, the compensation limits are set as follows:

Clients receive 100% the first £30,000 + 90% of the next £20,000, but no more than £48,000 in total.

You’ll find compensation limits on this of FSCS – investment limits.
Another point, the FSA regulations do not require to open a separate segregated account for each client. It is enough to have one client account for all investors, which will be fenced from the company account. Concerning general clients’ funds protection there is no major difference. Large investors might be able to negotiate a separate segregated account under their name with forex brokers on individual basis.

To check if a broker is registered with FCA UK use FCA register.

Forex brokers list

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Best forex brokers in nigeria for 2021

We compared & then selected the 8 best forex brokers in nigeria that are regulated with FCA (UK), cysec & FSCA.

Forex trading is a popular financial instrument for investing in the markets. However, choosing the right forex broker can be a tricky task.

In a rapidly developing country such as nigeria, there are so many good brokers, but there are also a lot more scam brokers operating in the market. So it is really important to only choose trusted & regulated nigerian forex brokers and avoid the bad ones.

In order to help you find the best forex broker, we have tracked & compared over 10 different brokers that accept nigerian investors.

List of 8 best regulated forex brokers in nigeria for 2021

There are various aspects that we looked into in order to assess each broker, these include the broker’s compliance with multiple top-tier regulations, broker reviews, the amount of fee charged (even the hidden charges), leverage offered, minimum deposit, funding & withdrawal methods and time taken etc.

Our below vetted list is created especially for nigerian traders; it will quickly allow you to compare the key features that you need to look for in any reputed forex broker.

Best forex brokers in nigeria

Here’s our updated list of the 8 best performing forex brokers in nigeria in terms of trading & non-trading fees, promptness of deposits & withdrawals, trade execution, support & deposit bonus (last 6 months):

1. FXTM – best forex broker in nigeria (instant order execution, low deposit & easy withdrawals)

Overall rating 9/10

Fees: 1.9 pips average spread for EUR/USD with standard account. And 0.3 pips (plus $0.4 per mini lot) with ECN MT5 account.

Account minimum: ₦2000 or $10 (cent account)

Leverage: 1:1000

Promotion: no deposit bonus available currently

Ranks #1 forex broker in nigeria

Forextime or FXTM is the best forex broker in nigeria, and they are one of the few forex brokers that has local office & phone number in nigeria. They are safe for nigerian traders as they are regulated under various trusted jurisdictions such as the FCA in UK, cysec in cyprus, FSCA and FSC of mauritius. FXTM is our recommended forex broker for nigerian traders.

FXTM’s was founded in 2011 & they are a FCA regulated forex broker, which is a top tier regulation, so we consider them to be a safe broker. They offer various account types, all of them can be funded in USD or naira & have very low minimum deposit requirements starting from just ₦2000 with the cent account. This makes FXTM a very good choice for nigerian traders.

Apart from forex trading, FXTM also offer other instruments such as cfds on commodity futures and cfds on spot metals making them a very attractive choice for traders looking to diversify their portfolio. They have also recently upgraded its range of currencies & now offer 57 major & minor currency pairs.

Another important factor that we look for in a broker is their promptness of support & withdrawals, and FXTM beats other brokers hands down in this area.

FXTM broker offers local customer support in english & has 19 deposit & withdrawal options which includes many methods for nigerian traders including bank deposit & card payment. Even allows users to create a demo account in order to build their confidence and learn the art of trading. FXTM also offers a wide range of educational material to its clients, including trading webinars.

FXTM is a highly regulated forex broker, so trading with them is safe. They are regulated globally with 3 top tier regulators i.E. FCA(UK), FSCA & cysec.

You can start trading with ₦2000 deposit, making them a good option for new traders.

Low spreads for most major & minor currency pairs including EUR/USD with ECN MT5 account.

Fast withdrawals in nigeria.

Live chat support is available 24/5 & for few hours during weekends. Their support overall is quite good.

FXTM has bit higher spread with their standard accounts compared to other brokers. For ex. Their typical EUR/USD spread with standard account is around 1.9 pips on average, but its still competitive.

2. Hotforex – best regulated forex broker with low spread & 100% deposit bonus

Overall rating 9.0/10

Typical fees: 1.2 pips spread for EUR/USD with micro account & 0.3 pips with zero account. This would be variable depending in the market conditions.

Account minimum: $5 (₦2000)

Leverage: 1:1000

Promotion: get 100% bonus on new deposits with at-least ₦30,000 deposit required.

Ranks #2 forex broker in nigeria

Hotforex is our recommended low cost broker for nigeria. They have a local office & phone support in nigeria & are a highly regulated broker (FCA, FSCA & cysec). They are a 100% STP broker which ensures very fair dealing. Plus they offer very good order execution on all trades, have really low spreads for EUR/USD & other majors, and very good customer support as well. We highly recommend hotforex for beginner traders looking for a well regulated low cost broker in nigeria.

Hotforex was established in the year 2010. They are regulated with FCA (UK), cysec & even financial sector conduct authority (south africa), so we find them to be a trusted broker for nigerians.

They have very low minimum deposit, as low as $5. Also, they offer extremely competitive spread of 0.3 pips for EUR/USD with zero account (1.2 pips with premium, micro accounts), 0.8 for USD/JPY, 0.6 for GBP/USD (this may vary depending on the market fluctuations).

Further, hotforex offers trading on various platforms that can be accessed from android, iphone and desktop. You can trade on the metatrader 4 or metatrader 5 platforms, both of which are the most widely used trading platforms in the world.

Hotforex also offers local bank withdraw and deposit methods for nigerian traders, and there are many wallet options as well. Plus, hotforex have ongoing deposit bonus promotion available for traders in nigeria.

Hotforex is a highly regulated broker, as they are regulated by 3 top-tier regulatory authorities FCA, FSCA & CYSEC. This ensures very fair dealing.

Low minimum deposit requirements of $5.

Hotforex has one of the lowest spread of all the brokers that we have compared. Around 0.3 pips typical spread for EUR/USD with their zero account.

Very attractive 100% sign up bonus for new customers & good loyalty program for existing customers.

Hotforex offers local deposit options like bank transfers for nigerian customers. You would need to talk to their live chat for the local bank funding options.

Very good support available via live chat, phone & emails.

100% depoit bonus available for every deposit of $250 or higher.

Their commission per lot of $6 (roundturn) with zero account is higher than other brokers like IC markets, FXTM that offer similar low spread ECN type accounts.

3. Octafx – low spread broker, commission free local deposits, withdrawals & 50% deposit bonus

Overall rating 8.9/10

Fees: 1.1 pips typical spread for EUR/USD with MT4 micro accounts. And 0.7 pips (plus $0.3 per mini lot) with ECN ctrader account.

Account minimum: $50 (₦18,000)

Leverage: 1:500

Promotion: 50% deposit bonus on all deposits

Ranked #3 forex broker in nigeria

Octafx is a cysec regulated forex broker that also accepts nigerian clients. They offer good trading conditions including competitive spread, fixed as well as variable spread MT4 accounts, local nigerian bank deposit & withdrawal methods, and multiple trading platforms i.E. MT4, MT5 & ctrader for mobile, web, and desktop.

Octafx is a forex & CFD broker that was established in 2011. They have 3 account types i.E: MT4 micro account for new traders with spread starting from 0.4 pips, the MT5 account for expert traders with 0.2 pips spread & ctrader ECN account for professional traders with the lowest raw spread & direct market execution. All their accounts have good trading conditions with support for scalping & hedging.

Their trading instruments on offer are limited though, as octafx offers forex trading on 28 currency pairs, and CFD trading on metals, energies, indices & cryptocurrencies. But they have competitive spread on their available trading assets, especially for traders who are looking to trade major currency pairs, and 3 main cryptos (bitcoin, ethereum and litecoin).

Their support is also very responsive in handing issues. Their live chat support is available for 5 week days, and email support is available 24/7. They also have whatsapp text support available. But they don’t have a nigerian phone number currently.

The funding & withdrawal options at octafx are very wide for nigerian traders. They offer instant funding via skrill, neteller, and quick zero fees funding via bank transfer, or cash, or ATM in their gtbank account. Also they offer BTC funding & withdrawal.

Octafx is a cysec regulated forex broker, so it is considered safe for nigerian traders to trade with them.

Their spreads for major currency pairs is quite competitive. For ex. Their spread for EUR/USD starts from 0.4 pips even with their beginner MT4 micro account.

Local deposit & withdrawals options available in nigeria, and they don’t charge any fees with this method. Also instant wallet funding and withdrawals options are available.

Their support overall is good, as their live chat support is available 24/5, and their email support is available 24/7.

They have a 50% deposit bonus available for all deposits.

Octafx has lesser trading assets available as compared to other forex brokers. They have 28 currency pairs, cfds on 4 metals, 10 indices & 3 cryptos (bitcoin, litecoin, ethereum).

Forex brokers to avoid

If you trade forex, you need to make sure that your brokers are legitimate and above board – and that you can trust them to help you out. While most forex brokers are decent and honest, not all are. It pays to be able to defend yourself against less scrupulous brokers. Avoiding broker fraud ought to be a priority for people who trade foreign exchange pairs, then – and that’s where we can help. Below is a list of brokers who we have deemed to not be trustworthy for a variety of reasons. And if you are concerned about a particular broker, contact us with details to alert us with the potential broker fraud going on. From there, we can go ahead and research and review the broker in question and help prevent other users from falling victim to any dodgy practices. And we’ll use this information to keep the list as updated as possible – so check back here for all the latest updates when you can.

Investigated brokers

The sad reality of the foreign exchange trading world is that there are people who are out to make a fraudulent buck from innocent traders trying to build their portfolios. Whether it’s insider trading or some other manipulation of the international markets, trading fraud can take many guises – and it can even have links to the wider stock markets as well. As a result, it’s wise to keep yourself fully informed about what the brokers you are considering are up to – and make decisions to avoid those who don’t offer the level of safety and security you require.

Below is an up to date list of the brokers which we strongly advise traders to choose to avoid. There are plenty of other brokers out there who are trustworthy – and with these traders below exhibiting behaviours like copying websites of others, receiving warnings from regulators and more, it’s well worth avoiding them as you choose your own preferred provider.

Various global institutions have criticised the range of brokers included on this list. Whether it’s the australian securities and investments commission or the regulators of nations such as cyprus, there are organisations on here which have faced the wrath of some of the world’s leading oversight bodies. But, we’ve gone even further and responded to intelligence from our users in order to bring you an up to date list of brokers which, in our opinion, ought to be avoided. (see the full list at the bottom of this page).

Latest added forex brokers to avoid

OT capital. They have gotten a warning from ASIC.

EU capital. They ask you to deposit over and over again. They even try to get you to log in to your bank account over a shared screen.

Multiplymarket is a clone of trading technologies.

Bluetrading has an FCA warning for claiming to be FCA regulated when they, in fact, are not.

Facebook group investment/profits, FBO trading signals & bitcoin investments – they don’t allow withdrawals and block you as soon as you ask for a withdrawal.

ECN capital. They claim to be cysec regulated but are not.

GBCFX – unregulated broker having issues handling withdrawals.

Forex365options – they make you pay fees that aren’t even in any terms and conditions. Website hardly works either.

Toptrades.Co – not regulated so should be avoided.

Fx-premium. They are copying the website of JFD brokers so should be avoided!

Most trusted forex brokers

But despite the fact that there are clearly some untrustworthy web brokers out there in the forex world, it’s also the case that some brokers are more worthy of your trust. Many legitimate forex brokers have taken steps to gain the trust of their users, whether that’s by implementing rules against money laundering or simply by segregating client funds away from the operational funds of the broker’s business.

It’s not always possible to identify the legitimate foreign exchange brokers from first glance – but that’s where we can help. The list below is based on reviews which assess everything from the apps offered by particular forex brokers to the reputations they have among users for fairness.

To see a full list of our trusted foreign exchange brokers, why not check out this table?

4.9

4.8

Most trusted crypto brokers

And the same goes for cryptocurrency trading, too. To some, the decentralised and entirely electronic world crypto trading is seen as something of a “wild west” – with many fraudulent bitcoin brokers exploiting innocent victims in the name of financial gain. But the reality is that there are plenty of ways to trade bitcoin on a legitimate basis without running the risk of being scammed. This section will offer some tips on some key bitcoin brokers who are, in our opinion, above board and worthy of consideration if you’re looking for a scam-free bitcoin or other crypto trading experience. See our list of trusted crypto brokers below.

-easy to use for all types of users

-traditional and instant exchanges available

-secure and simple buying process

– social trading platform
– FCA & cysec regulated
– minimum deposit $200
– demo account
– copy trading
– 2000+ instruments

Regulating trade authorities

When it comes to determining whether or not a foreign exchange or cryptocurrency broker is trustworthy, the role of the authorities is worth considering. We share the determination of regulators across the globe when it comes to weeding out fraudulent brokers. That’s why we’re happy to recommend the websites of the NFA (national futures association) and also the CFTC (commodity futures trading commission) if you’re interested in learning more about potential scams in this sector.

Forex brokers to avoid

Investigated brokers

Latest added forex brokers to avoid

OT capital. They have gotten a warning from ASIC.

EU capital. They ask you to deposit over and over again. They even try to get you to log in to your bank account over a shared screen.

Multiplymarket is a clone of trading technologies.

Bluetrading has an FCA warning for claiming to be FCA regulated when they, in fact, are not.

Facebook group investment/profits, FBO trading signals & bitcoin investments – they don’t allow withdrawals and block you as soon as you ask for a withdrawal.

ECN capital. They claim to be cysec regulated but are not.

GBCFX – unregulated broker having issues handling withdrawals.

Forex365options – they make you pay fees that aren’t even in any terms and conditions. Website hardly works either.

Toptrades.Co – not regulated so should be avoided.

Fx-premium. They are copying the website of JFD brokers so should be avoided!

Most trusted forex brokers

To see a full list of our trusted foreign exchange brokers, why not check out this table?

4.9

4.8

Most trusted crypto brokers

-easy to use for all types of users

-traditional and instant exchanges available

-secure and simple buying process

– social trading platform
– FCA & cysec regulated
– minimum deposit $200
– demo account
– copy trading
– 2000+ instruments

Regulating trade authorities

Top 7 of best US forex brokers for 2021

Top rated:

Are you searching for the best US forex brokers?

Luckily, our team of professional forex broker reviewers can take care of your every need.

Let alone the best forex broker in USA, our team realizes it is tough to find any broker which offers a trustworthy, and still value for money proposition when you want to trade forex in the USA. Forex brokers accepting US clients may be few and far between, but we have combined years of experience to narrow your selection down to the top five brokers.

These five are among the best forex brokers USA has to offer.

In fact, they are some of the best forex brokers for residents of any country. These brokers will ensure you feel safe, secure, and still have the ability to prosper in your trading career. They have been selected as the best US forex brokers for a variety of reasons.

Among these reasons are the amount of trading support they offer you, they wide range of markets and instruments that are available for trading, and the very competitive pricing and fee structure offered by these top forex brokers.

Is forex trading legal in the USA?

As a forex trader in the US, one of the most important questions you may be asking yourself from the outset surrounds the legality of forex trading in the US. Well, we are pleased to tell you that yes, forex trading is legal in the US. In fact, the US has several top financial regulators providing the best protection to you as a trader. These bodies are FINRA, the SEC, CFTC, and NFA with the latter two being the main regulators when it comes to forex trading and trading in derivatives such as futures. Remember also that cfds trading in the US is not permitted.

How to trade forex in the USA

The process of getting started with a forex broker in the US is typically similar to that of any other country. With any top broker you will usually be asked for the following information:

Proof of identity. A passport is typically best for this purpose.

Proof of residence, usually in the form of a bank statement at your current address.

Once these documents are uploaded and verified, a process that takes most forex brokers just a few minutes, you will be free to get started trading forex.

Top 7 forex brokers in the USA listing for 2021

Here’s our list of the best US forex brokers:

1. Forex.Com

When it comes to US forex brokers, forex.Com has to be an immediate consideration for opening your forex trading account in the USA. They are CFTC licensed and NFA regulated (#0339826) and provide a selection of flexible and accessible account types with low spreads starting from 0.2 pips, including their direct market access account. This offers some of the most unbeatable spreads among any of the forex trading brokers USA. They also provide extensive trading options in all of the top forex currency pairs, metals including gold and silver, as well as futures trading. When it comes to forex brokers accepting US clients, forex.Com certainly offers among the most comprehensive range of services to their US-based traders.

The forex.Com minimum deposits starting form $1000 on standard, and commission accounts, and $25,000 on DMA accounts with demo accounts available. There are also a range of other great benefits such as cash rebates and reduced or no fees for active traders.

2. IG markets

With over 40-years in the industry, IG markets is a true pioneer of the industry, and among the most long standing forex brokers accepting US clients. The broker has evolved continually, keeping the requirements of US-based traders as a top priority. These can be traded on MT4, the mainstay trading platform for top US forex brokers and traders from all around the world as well as being both CFTC licensed, and NFA regulated (#0509630). IG markets offers one type of account to all traders and this has a minimum deposit requirement of $250.

Accessibility with IG is also excellent, you can engage with a number of top professional charting packages using your desktop, phone, or other smart device. Beyond the USA, IG markets also featured in our top 10 largest forex brokers australia. This showcases their global appeal to traders. This appeal is further enhanced by a great cost of trading on more than 90 forex pairs with spreads starting at 0.8 pips.

3. Interactive brokers

You will very often find interactive brokers among our lists of top forex brokers. This is also true when it comes to our choice of top US forex brokers. This is thanks to a number of positive aspects which the longstanding broker uses to attract clients around the world. These include an excellent proprietary trading platform which offers some of the most advanced trading tools available on any market, and a widespread list of products which are available at highly competitive rates. These products include currencies, options, metals, and indices within a list which is ever increasing. IB are a FINRA member and regulated by both the CFTC and NFA (#0392970), as well as the SEC (#8-47257).

They have two account types, you can choose the IBKR lite, or IBKR pro both at no minimum deposit though the pro account has a $10 maintenance fee. As mentioned the product range is excellent as is the trading cost with spreads from 0.1 pips on 105 forex pairs. All of these features make IB a top choice particularly for experienced traders.

4. Oanda

Oanda is also making progress toward becoming the best forex broker in the USA. The industry leader is making progressive inroads in the US market, and now offers trading in more than 70 diverse forex currency pairs. This is more than enough for you to trade successfully. Added to this, you can also benefit from the powerful educational and research infrastructure oanda provides. This includes marketpulse, a selection of news, technical analysis, and research resources which are provided by the in-house oanda team. This can combine perfectly with our own online investment guides and educational content. Oanda are also well-regulated by both the CFTC, and NFA (#325821) offering traders two account types.

The standard account type is attractive thanks to the fact it has no minimum deposit, while the premium account requires a $2,000 minimum deposit but has benefits like lower spreads and other costs. An unlimited oanda demo account is also available. The broker also use the much respected MT4 trading platform for trading in all 70 forex pairs and more at a very competitive spread starting from 0 pips. All traders but particularly newer ones, seem to fit well within oanda.

Top 10 forex brokers in the UK (FXCM, GCAP)

With a trading volume of over $5 trillion per day, the foreign exchange market, also called forex or FX, is the world's largest market. The size and deep liquidity of the forex market, along with 24-hour trading, five days a week, make it an appealing choice for traders.

Top 10 brokers

The following 10 financial conduct authority (FCA)-regulated forex brokers, listed in no particular order, are chosen based on factors including financial stability, execution quality, and trading platforms available. When choosing among them, one might consider preferences such as markets available, execution software, and the competitiveness of spreads.

OANDA: the canadian-based foreign exchange company offers competitive spreads, as low as 1.2 pips in EUR/USD. Along with their own fxtrade platform launched in 2001, oanda offers metatrader 4.

Interactive brokers: greenwich, conn.-based interactive brokers offer direct access to interbank forex quotes and operate using an electronic communication network (ECN) market structure.

City index: established in the UK in 1983, city index offers forex trading, along with CFD's and spread betting. The metatrader 4 platform is available with added tools and features.

FOREX.Com: owned by parent company GAIN capital (NYSE: GCAP). Operating since 2001, FOREX.Com was a first mover in bringing currency markets to the retail trader.

FXCM: exchange-listed FXCM (NYSE: FXCM) offers a no dealing desk model along with competitive spreads. The firm offers trading in a wide variety of currencies including the chinese yuan.

The most popular and highly rated brokerages licensed in the UK are not physically based there.

Fxpro: founded in 2006, london-based fxpro is an online broker offering forex trading along with CFD's. Metatrader 4 and ctrader trading platforms are available.

IG markets: founded in 1974 as a spread betting business under the name IG index. The firm offers trading in pairs including EUR/USD, AUD/USD, and USD/JPY with spreads as low as 0.8 pips.

Alpari:alpari has over a million customers and is one of the largest forex brokers in the world. Traders can choose from eight different methods to fund their accounts, so getting started is easy. Mobile and web platforms (metatrader 4 & 5), provide traders with the ability to trade on the go.

Activtrades: established in 2001, activetrades offers forex trading in mini and micro lots, a diverse product offering, and competitive spreads.

HY markets: in business for 30 years, HY markets provides multiple trading platforms and a wide variety of trading instruments. HY markets a division of the henyep group, a global conglomerate with a presence in 20 countries.

HYCM:HYCM (henyep group) is well known as one of the top forex brokers in the world. With over 40 years of experience in the business, this broker processes over 25,000 orders every day and has over 20 years of FCA oversight in the U.K.

The bottom line

Among the leading FCA-regulated forex brokers in the UK, the majority are actually based abroad. In many cases, this means that they are also regulated by other bodies, such as the national futures association (NFA) in the united states. While the retail forex industry continues to develop and improve, traders must remain vigilant in scrutinizing where they place their funds for investment.

Australian securities and investment commission ASIC

The forex broker companies that are under the supervision of ASIC are among the best-regulated companies. The ASIC is in charge of the securities and investment market in australia.

What they do

The protectors of the australian financial market ensure a fair and transparent conduct of business with the support of experienced consumers and investors. They are also an independent government organisation that mostly operates under the corporations act passed in 2001.
Their main duties include:

Maintenance and improvement of the financial system and entities that are part of that system

Promotion of participation in the market by informing and encouraging investors and customers

Effective law enforcement with minimal procedural requirements

Law implementation

Information storage and processing

Publish information on companies and other bodies for the public

Who is under the regulation of ASIC

ASIC is monitoring australian companies, financial markets, investment dealers and advisers, financial services agencies, insurance companies and credits.
Regarding consumer credit, they issue licences to people and business organizations, i.E. Banks, brokers, credit unions, mortgage brokers, finance companies, etc.). They assure that the licenced fulfil the criteria and abide by the law.
The ASIC takes on two roles as the markets regulator and the financial services regulator.
They monitor and evaluate if the financial markets comply with the law (e.G. Transparency, fairness, etc.) and give proposals to the minister to authorize new markets.
As the authority on financial services, they ensure a fair, transparent and efficient business operation protecting consumers and customers. These companies mostly deal in superannuation (australian pension fund programs), shares, securities, derivatives, insurance, etc.
Form 2010 ASIC’s responsibilities were widened including supervision of futures market, derivatives and domestic licenced equity.
On a legal basis, they have free hands to:

Licence companies, as well as investment schemes

Grant domestic credit licenses

Keep registers available to the public about companies, financial services and credit licensed persons

Keep market integrity

Investigate in case or suspicion of illegal actions requiring companies to provide records and information

Suspend persons from credit and financial services dealings

Ask courts to issue penalties

Prosecute regarding specific aspects

The ASIC is a strong organization with a lot of power over financial issues and the capital market. They grant security and safety to consumers and clients.

Consumer protection

The ASIC provides educational resources and materials to clients giving advice on smart investment, money borrowing, risk, scams, etc.
They also have a list of unlicensed companies and warn people publicly to stay away from them. They emphasize that a company needs to be ASIC licensed. They also call and encourage people to report any loan and credit scamming they know about. They especially warn about overseas companies which are unfortunately out of their jurisdiction and cannot be taken action against, if australians engage in business with them.

ASIC registered brokers

ASIC requires brokers to have the AFS licence (australian financial securities licence) in order to be able to do legal business in australia.
The application for the license can be submitted online via the elicensing system created for that purpose. After filing an application, ASIC assesses your capability to deal with financial services, your capital and financial assets, and capability to fulfil the requirements of the AFS license (dispute resolution, legal compliance, training and more).
The AFC requirements include sufficient cash, responsible and adequately qualified managers and key staff, training and supervision of representatives, risk management, adequate and sufficient human and technological resources, conflicts of interest management, compensation arrangements and dispute resolution. All of these criteria must be met prior and after getting ASIC and AFC approved.

So, let's see, what we have: A forex brokers list comprised of many brokers to meet the needs of all forex traders. At list of registered forex brokers