DMA Forex Brokers

• SAXO is regulated by various licensing bodies globally, with licenses in six tier-1 jurisdictions.

• Access over 60,000 instruments, including crypto derivatives, micro-futures, and forex options.

• SaxoTraderGo is equipped with all the necessary tools traders might need.

• Corellian Academy content for risk management is a great addition to SAXO's educational offerings.

• Traders can connect their SAXO accounts to third-party platforms to access custom tools without additional charges from SAXO.

• The instrument fee structures can be confusing for some traders.

• Unfortunately, SAXO does not accept U.S. clients at the moment.

• Access to the popular MT4 and MT5 terminals is unavailable, which can be a drawback for some traders.

• There is no live chat facility, which could have been helpful for traders who prefer to get their queries resolved through chat.

- OANDA is among the few international online forex brokers that accept U.S. clients.

- The broker's trading platforms are unique with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.

- Oanda does not require a fixed initial deposit on the standard account.

- OANDA's trading research offerings are excellent and uncommon for a retail trading platform.

- The broker's desktop and web-based platforms feature TradingView, an advanced financial visualization platform

- Oanda's financial offerings have some irregularities that may only suit some traders.

- Trading on Oanda may incur several fees, including a monthly inactivity fee, fees for deposit

• Regulated by FCA: ActivTrades is regulated by the Financial Conduct Authority (FCA) in the UK, which ensures that the broker follows strict financial regulations and offers a high level of investor protection

• Range of assets: ActivTrades offers a wide range of assets for trading, including forex, indices, commodities, shares, and cryptocurrencies.

• Competitive spreads: ActivTrades offers competitive spreads, with the lowest spreads available on the Professional Account.

• Multiple trading platforms: ActivTrades offers a choice of popular trading platforms, including MetaTrader 4, MetaTrader 5, and their own proprietary ActivTrader platform.

• Limited leverage for retail clients: ActivTrades only offers leverage of up to 1:30 for retail clients, which may be a disadvantage for some traders.

• Inactivity fees: ActivTrades charges inactivity fees for accounts that haven't been used for a certain period, which may be a drawback for traders who do not trade frequently.

• No hedging or scalping: ActivTrades does not allow hedging or scalping on their trading platforms, which may be a disadvantage for some traders who use these strategies.

• Limited payment options: ActivTrades only accepts a limited range of payment methods, which may be a disadvantage for traders who prefer to use alternative payment options.

• No copy trading: ActivTrades does not offer copy trading, which may be a disadvantage for traders who prefer to follow the strategies of other successful traders.

• Thorough Regulation and License: markets.com is licensed and regulated by 5 reputable watchdogs. This further strengthens the broker's credibility as a financial service provider.

• Markets.com is not your regular broker, with its blend and IPO offerings. These additional offerings put the broker in a league of its own.

• Sleek Proprietary Trading Platform: Besides its MT4 and MT5 trading platforms, the broker has its own customized trading platforms, which excel in every regard as the more popular trading platforms.

• Educational Resources: The broker offers an extensive, insightful, and accessible library of educational resources, including tutorials, video analysis series, webinars, and articles, to help traders improve their trading knowledge and skills. 

• Excellent Multilingual Customer Support: markets.com offers its clients excellent customer support service through different channels such as email, phone, live chat, and social media. These services are also mostly available in five languages allowing traders to make a preferred selection.

• Inactivity Charges: Traders must pay a fee of $10 per month after 90 days of no trading inactivity on markets.com.

• No Customer Support Service on Weekends: Since trading is 24/7, it's only ideal that the customer support service is also available 24/7 so clients can resolve their complaints quickly.

• Well Regulated: This Interactive Broker review deduced that the broker tops the chart with its license with top-tier regulatory bodies across international regions. The broker has regulatory oversight from 10 financial market watchdogs making it one of the most credible brokers in the industry.

• No Minimum Deposit: This unique feature sets Interactive Brokers on top trading charts; anyone can open a trading account with the broker without any compulsory deposit fee. 

• Offers a Range of Tradable Instruments: Like many other brokers, the broker offers its clientele a wide range of products from Interactive Brokers forex to options, mutual funds, bonds, and cryptocurrencies. Simply put, Interactive has every tradable instrument in the market.

• Over 45 years of trading experience: Interactive Brokers have been active in the financial market for nearly half a century; this is proof that the broker is reliable and has a firm grasp of the intricacies of the financial market.

• Unlimited Demo Account: Anyone can sign up on Interactive Brokers and practice their way to becoming expert traders. The broker offers its clientele an unlimited demo account, implying that novice and experienced traders can “up” their trading game at any time.

• Accepts U.S. Clients: Interactive Brokers is one of the few brokers that offers its services in the U.S. Few brokers can comply with the regulatory and operative requirements in the U.S., and Interactive Brokers is one of the few that meet these standards.

• No MetaTrader trading platform: Traders accustomed to MT4 and MT5 trading platforms will have to learn how to navigate the trading market on totally different platforms if they sign-up on Interactive Brokers.

• No Credit/Debit Card Option: While the broker affords its clientele several deposit and withdrawal methods, the Credit/Debit card option is unavailable. 

• Limited Customer Support: With its international coverage, one would expect that Interactive Broker has a customer support network of the same measure. However, this is not the case. The broker's customer support channels are limited to nine phone lines unavailable around the clock, its website, and a live chat.

• Complex Registration Process: the sign-up process on the Interactive Brokers platform is a lot more complex than most brokers. One will need more than an email address to sign up and has to fulfill specific terms and conditions to begin trading.

• Offers high leverage of up to 1:3000 for experienced traders.

• Provides a user-friendly trading platform with advanced charting tools.

• No commissions are charged on trades.

• Offers a variety of account types to suit different trading needs.

• Offers a demo account for traders to practice and test their strategies.

• Not regulated by reputable financial authorities such as the FCA or ASIC.

• Limited payment options are available.

• Limited educational resources and market analysis tools.

• No negative balance protection is offered.

1. XM Global offers 24/5 customer support

2. 1000+ trading instruments

3. Low withdrawal fees

4. Educational content

1. Limited platform options (only offering MetaTrader)

2. This XM review discovered that the broker charges Inactivity fees

• No obligation demo accounts with US$50,000 of virtual funds to practice with

• 24/5 Customer support available 

• Multilingual support in 14 languages

• Free and extensive educational resources

• Super simple withdrawals

• Limited trading platform options

• Limited trading instruments

• Only forex and CFD trading

• Limited research tools

• FXTM offers a wealth of educational materials and market insights, making it an excellent choice for traders looking to enhance their knowledge and skills.

• The broker provides negative balance protection, ensuring traders do not lose more than their initial Deposit, enhancing risk management.

• FXTM is regulated by esteemed financial authorities such as the FCA (Financial Conduct Authority) and CySEC (Cyprus Securities and Exchange Commission), instilling trust and confidence in its operations.

• FXTM has received recognition through multiple industry awards, further affirming its reputation and commitment to excellence.

• Traders can benefit from the copy trading feature, allowing them to follow and replicate the strategies of experienced traders.

• FXTM offers a variety of deposit methods, providing convenience and flexibility for traders to fund their accounts.

• FXTM falls short in offering ETFs and bonds, limiting the diversity of assets available for trading.

• Also, the selection of stocks is not extensive, potentially restricting opportunities for traders interested in stock trading.

• FXTM offers limited e-wallet payment options, which might be inconvenient for some traders who prefer these methods.

• Traders should be aware of potential inactivity and withdrawal fees, which could impact the cost of trading on the platform.

- 0% commission on deposits and withdrawal

- Fast funds withdrawal

- Copy trading option

- Affordable minimum deposit of just $10

- Wide range of trading options and tradable instruments for traders

- Limited Demo account; only available for 30 days

- No cryptocurrency tools on the R StocksTrader platform

• Unlimited demo account: Both new and experienced traders can access the different HYCM demo accounts across the broker's platform for as long as they like. This will help new players become better skilled and experienced players more familiar with the various trading environments on the platform.

• Supports multiple languages: Another HYCM bonus is its earned regulatory approval in 140 countries. This strongly indicates the broker's versatility. Depending on the traders' nationality, anyone can enjoy full access to the trading platform in their preferred language.

• Long-standing reputation: With over 40 years in the financial industry, HYMC stands tall as an industry leader that has stood the test of time. Its financial services have also improved over the years to increase the platform's functionality and create an enjoyable trading experience.

• A unique mobile trading app: HYCM has proved that it is an industry leader with the availability of its trading app. Only a few brokers can boast of an exclusively designed trading platform.

• Customer support is unavailable during weekends: Since the broker offers financial services for some trading instruments that operate 24/7, customer support must be available round the clock. However, HYMC's customer support services across all platforms are only available on weekdays. This means traders have to wait till weekdays to access customer support if the need arises on weekends.

1. Specialized trading accounts for new and experienced traders

2. Free VPS hosting, which any trader can qualify for by trading for at least 14 days with a lifetime deposit of $500 3. 24/7 instant money withdrawal

4. Narrow spreads across trading accounts

5. No hidden commission fees

1. The Exness Training resource section is only available in English, limiting traders who don’t understand English from accessing it.

2. Customer service is unavailable 24/7 in every language.

3. Unavailable to retail clients in the UK and some US territories.

• Regulated by multiple authorities

• Offers a wide range of assets, including cryptocurrencies

• Multiple trading platforms are available, including MetaTrader 4

• Competitive spreads starting from 0 pips

• Allows scalping and hedging strategies

• Limited educational resources for beginners

• Limited research tools

• Limited customer support options compared to some other brokers

• Limited deposit and withdrawal options

• It is well regulated: Plus500 is regulated by several regulatory bodies in its different regions of operation. These regulatory bodies ensure that brokers uphold fair market standards for both individuals and corporations.

• Offers access to a wide range of markets: Plus500 has a long list of CDF offerings to its clientele across 50 countries. These include cryptocurrencies, individual shares, commodities, stock indexes, ETFs, and currency.

• Negative Balance Protection: As authorized by ESMA since 2018, Plus500 provides negative balance protection to ensure that customers cannot lose more money than they have deposited into their accounts.

• Guaranteed stop loss orders: This feature shields Plus500 traders from market gap risk.

• Offers risk management tools: Plus500's trading platform boasts a user-friendly design and risk management features such as watchlists that aid traders in examining charts, placing, and tracking transactions.

• Limited account types: Plus500 does not offer its clientele a variety of trading accounts; hence it limits their trading preference.

• Limited trading features: Direct third-party analytical and automation tools integration with WebTrader is unavailable across Plu500 platforms. There is also no functionality for back-testing.

• Charges inactivity fee: After 3 months of inactivity, Plus500 charges traders $10 a month.

• Limited customer support: The only customer care alternatives offered by Plus500 are email support and WhatsApp chat.

• Limited trading platform: Plus500 affords its clientele only two trading platforms, limiting their trading preference to the available trading options.

• Variable leverage options up to 3000:1 for most account types allow traders to maximize their trading potential.

• Low minimum deposit requirement, with some account types requiring just $1 to start trading.

• Multiple funding options with no deposit fees or commissions charged by FBS.

• A wide range of trading accounts is available to suit different traders’ needs.

• 24/7 multilingual customer support is available via phone, email, and live chat.

• Limited regulatory oversight, with the Belizean regulatory body only providing basic regulatory oversight.

• Withdrawal times can be slow for certain payment methods, with bank wire transfers taking up to 5-7 business days to process.

• FBS Pro account requires a minimum deposit of $1000, which may be too high for some traders.

• FXpro offers a superb account opening process that is easy to follow
• Great customer service
• The broker offers free deposit and withdrawal
• Clients get negative balance protection on their accounts to protect their funds during unfavorable market conditions
• The broker has a team of tested advisors
• Provision of a VPS server
• Fxpro offers guaranteed stop loss on every trade

• The broker only offers CFDs and forex trading options

• This Fxpro review discovered that the broker charges high trading fees for some stock CFDs

• Traders also have to pay inactivity fee when they don't trade for sometime
  
  

• Regulated and licensed by multiple financial authorities

• Offers a wide range of assets for trading

• Provides advanced trading tools and platforms

• Offers high-quality education and research resources

• Has excellent customer support

• Does not accept clients from some countries, including the United States

• Has high minimum deposit requirements

• Has limited leverage compared to some other brokers

• Has higher spreads on some assets

• Charges commission fees on some CFD trades

• A wide range of assets is offered, including forex, commodities, stocks, and cryptocurrencies

• Competitive spreads and commissions on different account types

• High leverage of up to 1:500 available

• Multiple platforms available, including MetaTrader 4 and 5, cTrader

• Responsive customer support available through email, phone, and live chat

• Trading restrictions for clients from certain countries, including the United States,  Japan,  Canada, and Iran.

• Limited educational resources compared to some other brokers.

• Inactivity fee charged after 6 months of inactivity on the account.

• Limited deposit and withdrawal options compared to some other brokers.

• Regulated by multiple financial authorities, ensuring the safety of client funds and providing a high level of transparency in their operations.

• Offers a wide range of assets for trading, including Forex, stocks, indices, commodities, cryptocurrencies, bonds, and ETFs.

• Provides multiple trading platforms, including the popular MetaTrader 4 and 5 platforms, AVATrader, and their proprietary mobile app, AvaTradeGO.

• Provides a wide range of payment methods, including bank transfers, credit/debit cards, e-wallets, and other online payment systems.

• Offers educational resources, including webinars, video tutorials, and trading guides, to help traders improve their skills and knowledge.

• Variable spreads may widen during volatile market conditions, leading to higher trading costs for traders.

• Charges swaps/rollovers for holding positions overnight, which can add to the trading costs.

• Commission fees may apply for certain instruments, such as stocks and ETFs. Does not accept clients from the USA and Canada.

• IQ Option has a sleek and user-friendly trading platform, which makes it easy for traders of all skill levels to navigate and execute trades.

• IQ Option offers 24/7 customer support through email, phone, and live chat, providing prompt and effective assistance to traders whenever they need it.

• The trading platform offered by IQ Option is very intuitive and helpful. It features some top-notch tools to assist with trading.

• IQ Options has a very low minimum deposit of $10 when compared with other Brokers in the market.

• There is controversy surrounding IQ Option’s regulatory oversight, as there is no record of its licenses by most major financial regulatory authorities, such as the FCA and ASIC.

• While IQ Option claims to process withdrawals within three business days, some traders report experiencing delays in receiving their funds.

• Due to local restrictions, traders in certain countries may have limited access to the IQ Option mobile app. Traders in the EU region have access to limited functionalities.

• IQ Option does not offer the option of adding more indicators or algorithmic trading on their platform.

• Strong Regulation: FXGiants is distinguished by its strong regulation under the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) in Australia. This regulatory oversight ensures that FXGiants adheres to strict financial standards and provides clients with high security and trust.

• Diverse Range of Instruments: With FXGiants, traders gain access to a diverse range of instruments, including forex currency pairs, indices, stocks, energies, metals, bonds, commodities, cryptocurrencies, and shares. 

• Competitive Spreads: FXGiants offers competitive spreads, providing traders with favorable pricing conditions. These lower spreads can reduce trading costs, maximizing potential client profitability.

• Minimum Deposit from $50: FXGiants sets itself apart by offering a low minimum deposit requirement of just $50. This affordability makes it accessible to traders with different budgets, enabling them to enter the market and trade with a smaller initial investment.

• Deposit Bonus: FXGiants rewards its clients with a deposit bonus of 20% on their initial deposits. This bonus provides additional trading capital, allowing traders to have more funds for their trading activities. The deposit bonus can be a valuable incentive for new clients joining FXGiants.

• Affiliate Program: FXGiants features an affiliate program that allows clients to earn extra income. By referring new traders to the platform, clients can generate revenue through the affiliate program. This creates an additional avenue for earning alongside their trading activities.

• Doesn't Allow Hedging: Traders are not permitted to open opposing positions on the same instrument. While this restriction may not align with specific trading strategies that rely on hedging for risk management, alternative risk management approaches can be explored.

• Limited Regional Availability: This restricted regional availability could be a drawback for traders who reside in those areas but wish to trade with FXGiants. Traders should ensure that their country of residence is eligible for opening an account with FXGiants before considering them as their preferred broker.

• Inactivity Fees: FXGiants impose inactivity fees on dormant accounts. Traders who do not actively engage in trading may incur these fees, which could be a disadvantage for those who prefer a more passive trading approach. Traders need to be mindful of these fees and actively manage their accounts to avoid inactivity charges.

• Easy and fast account opening

• Supports multiple trading platforms

• Low trading fees

• 50% welcome bonus

• Regulated in multiple jurisdictions

• Not competitive for traders with low investment

• Limited offering of tradable instruments 

• Restrictive leverage caps kick in at $5,000

• Unavailable to US residents

• Wide range of trading instruments, including over 100 currency pairs, cryptocurrencies, and metals.

• Competitive spreads and high-leverage options are available for traders.

• Multiple trading platforms to choose from, including MetaTrader 4 and 5.

• Flexible deposit and withdrawal options, including various e-wallets and cryptocurrencies.

• Comprehensive educational resources and analytical tools are available to support traders. 

• High withdrawal fees for specific payment methods.

• Limited options for social trading or copy trading.

• No support for traders in the United States due to regulatory restrictions.

• Offers low trading fees with spreads starting from 0.0 pips.
• Regulated by ASIC in Australia, providing clients with a level of assurance regarding regulatory compliance.
• Provides multiple channels for contacting support, ensuring prompt assistance when needed.
• Permits short-term trading strategies, including scalping and automated trading using Expert Advisors (EAs).
• Competitive spreads are available on a decent range of tradable instruments.
• No inactivity fee, offering flexibility for traders who may not actively trade.
• Offers multiple deposit and withdrawal options, enhancing convenience for clients.

• Lacks the track record of top brokers due to its relatively new presence in the market.
• The absence of educational and research tools may limit the appeal to beginners seeking guidance.
• Does not offer a proprietary trading app, potentially impacting accessibility for mobile traders.
• The list of tradable assets is not as extensive as some competitors, limiting trading options for clients.
• Limited information is provided on the broker's website, which may pose challenges for clients seeking detailed insights into the platform and its offerings.

• NeoMarkets is praised for its user-friendly approach, making it accessible and straightforward for novice and experienced traders to navigate the platform.

• NeoMarkets allows trading cryptocurrencies through CFDs at competitive costs, providing traders with exposure to this popular asset class.

• NeoMarkets is regulated by the Financial Services Commission (FSC) in Mauritius, adding an element of oversight and security for its clients.

• The broker provides the option for traders to employ higher leverage, potentially amplifying their trading opportunities.

• NeoMarkets offers diverse tradable instruments, allowing clients to explore different markets and diversify their portfolios.

• NeoMarkets supports hedging, a trading strategy that can be useful for risk management and portfolio diversification.

• NeoMarkets has a limited selection of deposit and withdrawal methods, potentially inconveniencing clients who prefer a broader range of options.

• To access the demo account, users must first complete the registration process, which might deter those who prefer exploring the platform before committing.

• NeoMarkets' website lacks readily available information about its various account types, potentially making it challenging for traders to select the most suitable option.

• The broker imposes an inactivity fee on dormant accounts, which may discourage long-term or occasional traders.

• NeoMarkets falls short in providing an extensive range of educational resources, which could pose a challenge for new traders seeking learning materials and support.