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Most Trusted Forex Brokers

A most trusted forex broker must be regulated by top authorities (FCA, ASIC), maintain financial stability, and ensure robust security. Transparency in fees, positive client reviews, competitive trading conditions, excellent customer service, and advanced platforms are essential. In this list you will find regulated brokers with high ratings.

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Forex.com
trusted
Available in
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  • Specialized trading accounts
  • 24/7 instant money withdrawal
Pros
  • Top-Tier Regulation

  • Low Forex Fees

  • No Withdrawal Fees

Cons
  • High Stock CFD Fees

  • Limited Product Portfolio

  • User Interface Could Be More Intuitive

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:50
Start trading
76-77% of retail investor accounts lose money when trading CFDs with this provider.
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OANDA
trusted
Available in
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2
OANDA
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  • Exceptional Execution
  • US Clients
  • Scalping
Pros
  • 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.

Cons
  • 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

  • Withdrawal feeN/A
  • Deposit feeN/A
  • Max Leverage1:50
IG
Available in
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3
IG
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Pros
  • Competitive Spreads: IG offers some of the most competitive spreads in the industry, especially for major forex pairs.
  • Wide Range of Assets: IG offers a wide range of assets, including forex, commodities, indices, and cryptocurrencies, allowing traders to diversify their portfolios.
  • Regulated Broker: IG is regulated by several reputable authorities, including the FCA and ASIC, providing traders with security and trust.
Cons
  • Limited Payment Options: IG offers limited payment options, which may be inconvenient for some traders.
  • Inactivity Fee: IG charges an inactivity fee of £12 per month if there is no trading activity for two years or more, which may deter some traders.
  • No Social Trading: IG does not offer social Trading, which may be a disadvantage for traders who prefer to follow and copy the trades of successful traders.
  • Withdrawal feeNo withdrawal fee
  • Deposit feePossible third-party charges up to 2.3% on Credit Cards
  • Max Leverage1:200
Plus500
trusted
Available in
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  • Multiple Tier-1 Regulators
  • No Deposit Fees
  • No Withdrawal Fees
Pros
  • Well-Regulated Broker: Plus500 is regulated by multiple  regulatory bodies across different regions of operation. These regulatory bodies ensure that brokers uphold fair market standards for both individuals and corporations.
  • Extensive Market Offerings: Plus500 is a multi-asset broker that offers trading on three different markets – the Plus500 CFD platform, Plus500 Invest (for share dealing, *availability subject to regulation), and Plus500 Futures (available only to US traders). Plus500 provides CFD trading across a broad range of asset classes, including shares, indices, forex, commodities, ETFs, and cryptocurrencies.
  • Negative Balance Protection: As required by ESMA since 2018 for all European brokers, Plus500 provides negative balance protection to ensure that customers cannot lose more money than they have deposited into their accounts.
Cons
  • 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.
  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:30
Start trading
82% of retail investor accounts lose money when trading CFDs with this provider.
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Exness
trusted
Not available in
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5
Exness
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  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • Free VPS hosting
Pros
  • Competitive Trading Conditions

  • Wide Range of Tradable Instruments

  • Advanced Trading Platforms

Cons
  • Limited Regulatory Oversight for Some Entities

  • Limited Educational Resources for Beginners

  • Mixed User Reviews

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:2000
FxPro
trusted
Not available in
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6
FxPro
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  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • Free VPS hosting
  • High leverage
Pros
  • Regulated by Multiple Tier-1 Authorities

  • Competitive Trading Conditions

  • Wide Range of Trading Platforms

Cons
  • Higher Commissions on Certain Platforms

  • Limited Educational Resources Compared to Other Brokers

  • Not Available Worldwide

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:10000
Libertex (Europe)
trusted
Not available in
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  • Affiliate Program
  • Very Low Commissions
  • Proprietory Trading Platform
  • Real Stock Options
Pros
  • Highly Regulated Broker: Libertex is regulated by CySEC, and has been operating for over a decade making it one of the reputable names in the brokerage space. 

  • Extensive Range of Underlying Assets: Wide range of CFDs (300+ across all major markets) plus real stock investment.

  • Major and Proprietary Trading Platforms: You can access popular trading platforms like MT4 and MT5. In addition, you can also trade with the company’s proprietary trading platform. 

Cons
  • Leverage Capped at up to 1:30 for Retail Clients: Retail leverage is capped at 1:30 because of CySEC regulation.

  • No Islamic (Swap-Free) Account: The broker does not offer Swap-Free/Islamic accounts. You can explore other brokers who offer swap-free trading on TopBrokers.

  • Limited Availability: Only clients from EEA Area and Switzerland are accepted.

  • Withdrawal feeLow (depends on platform)
  • Deposit fee€0
  • Max Leverage1:30
XM
Not available in
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8
XM
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  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
Pros
  • Regulated by Top-tier Authorities

  • Low Spreads and Commissions

  • Popular Trading Platforms

Cons
  • Limited Asset Coverage

  • Platform Selection Limited

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:888
IC Markets
Not available in
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  • Specialized trading accounts
  • Tight Spreads
  • Low commissions
Pros
  • Provides trading aids and resources such as risk depth, spread monitoring, and risk calculator.

  • Offers low average spreads and competitive pricing for all account types.

  • Provides plugins for third-party research and trading tools.

Cons
  • Limited product offerings.

  • No investor protection for traders outside the European Union.

  • No weekend trading, extra bonuses or promos.

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:500
PU Prime
Not available in
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  • 24/7 Multilingual Customer Service
  • Proprietary Copy Trading App
Pros
  • Wide Range of Account Types: PU Prime provides a variety of account types designed to suit different trading styles and experience levels, from beginners to advanced traders.

  • Great Leverage: Control larger positions using minimal capital, thanks to leverage of up to 1:1000. This allows you to maximize opportunities in the market but remember, while higher leverage can enhance potential gains, it also increases risk. 

  • 24/7 Multi Channel Support: Round-the-clock assistance is provided by PU Prime through multiple channels, including live chat, email, and phone support. Services are offered in 18 languages, ensuring accessibility for a diverse range of traders.

Cons
  • Slightly Higher Spreads: For no-commission accounts, spreads starting at 1.3 pips are slightly higher than the industry average.

  • High Minimum Deposit: High minimum deposit for the low-spread and commission-based accounts

  • No EU Regulations: Despite being regulated by 4 authorities, including top-tier ASIC, the broker does not offer dedicated EU regulation for European clients.

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:1000

Criteria for a Trusted Forex Broker Like XM

TopBrokers and other reputable platforms recommend trading with XM due to its status as a highly trusted broker. Here are the primary reasons:

Strong Regulatory Compliance

XM is regulated by multiple top-tier financial authorities, including the FCA (UK), ASIC (Australia), and CySEC (Cyprus). This multi-jurisdictional regulation ensures that XM adheres to strict standards for client fund security, transparency, and ethical business practices.

Competitive Trading Conditions

XM offers highly competitive spreads and low commissions, especially on its Ultra Low account which features spreads starting as low as 0.8 pips for major currency pairs like EUR/USD. This makes it an attractive option for both new and experienced traders looking to minimize trading costs.

Diverse Range of Trading Instruments

XM provides access to over 1000 trading instruments, including forex pairs, stocks, commodities, indices, and cryptocurrencies. This extensive range allows traders to diversify their portfolios and explore multiple markets from a single platform.

Advanced Trading Platforms

XM supports MetaTrader 4 and MetaTrader 5, two of the most trusted and widely used trading platforms in the forex industry. These platforms offer advanced charting tools, automated trading capabilities, and are accessible across various devices, ensuring flexibility and convenience for traders.

Excellent Customer Support and Education

XM is known for its exceptional customer service, available 24/7 through multiple channels, including live chat, phone, and email. Additionally, XM provides comprehensive educational resources, including webinars, tutorials, and articles, which are valuable for both beginner and advanced traders.These attributes make XM a highly recommended broker among top forex broker review platforms, ensuring traders can trade with confidence knowing they are with a reliable and trustworthy broker .