Register80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Register80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Register80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Register80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
RegisterTrading CFDs carries high risks. You may lose all invested funds
How the Forex brokers directory is compiled
To compile an independent Forex broker list, the website IamForexTrader utilizes a comprehensive system - a methodology for evaluating brokers. Our research considered several factors: the broker's trading platform, customer service, reviews, fees and commissions, spreads, leverage, regulation, account types, and deposit/withdrawal methods.
We start by examining the broker's reliability and reputation. Then, we evaluate the trading platform, customer support service, commissions, spreads, the range of trading instruments, leverage, and the types of accounts the broker offers. Next, we study the rules and methods of depositing/withdrawing funds. We also verify how the broker executes withdrawals.
After considering all these factors, we use our evaluation algorithm to assign an overall score to the broker. The algorithm considers factors such as customer reviews of Forex brokers, reliability and security, the range of services offered, ease of use, and overall reputation. We then combine this rating with the assessments of our users to arrive at the final broker score.
We believe that our full list of Forex brokers provides a fair and accurate representation of all brokers in the market. Primarily, this Forex broker ranking is aimed at helping beginner traders make informed decisions when choosing a broker for their trading needs.
What Are Forex Brokers?
Forex brokers are licensed financial intermediaries that connect retail traders to the interbank currency market. They provide access to a trading platform, real-time quotes, and liquidity, accept and execute your orders, and settle positions on a T+0 basis.
Key Functions of a Forex Broker
Trading platform & quotes — MetaTrader 4/5, cTrader, or proprietary web terminals with live prices.
Order execution — routing orders to the external market (ECN/STP model) or internal dealing (Market Maker).
Leverage — up to 1:30 within the EU and as high as 1:1000 outside the EU, allowing larger positions but increasing risk.
Infrastructure & support — VPS servers, market analysis, economic calendars, calculators, and APIs for algo-trading.
Custodial service — client funds kept in segregated accounts with daily position reporting.
How to Choose a Reliable Forex Broker: Checklist
Copy these criteria or take our online Forex broker checklist — an interactive tool that builds a personal report in two minutes and shows where a broker falls short.
Criterion
What to Check
Why It Matters
Regulation
Licence number and regulator (CySEC, ASIC, FCA, DFSA, etc.)
Maximum available and how it scales with risk profile
Balance between profit potential and loss risk
Platforms & Tools
MT4/MT5, mobile apps, copy-trading, analytics
Convenience and advanced features
Funding & Withdrawal Methods
Cards, bank transfers, e-wallets, cryptocurrencies
Speed and cost of transactions
Customer Support
24/5 or 24/7, languages, local phone/chat
Fast resolution of technical and financial issues
Tip: Open a demo account and make a small deposit first to verify platform stability and withdrawal speed.
FAQ
What is the most reliable Forex broker?
The most reliable Forex broker is one that is regulated by reputable financial authorities such as the FCA (Financial Conduct Authority) in the UK, ASIC (Australian Securities and Investments Commission) in Australia, or CySEC (Cyprus Securities and Exchange Commission) in Cyprus. Examples of such brokers include IC Markets, Oanda, and FXCM. A reliable broker should also have transparent trading conditions, positive client reviews, and a long history of operation in the market.
Where is the best place to trade Forex?
The best place to trade Forex is on platforms provided by regulated brokers that offer favorable trading conditions, a wide range of instruments, and quality customer support. Popular platforms include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. Recommended brokers for trading include Admirals, CMC Markets, and FBS, which offer competitive spreads and high liquidity.
Which broker is the best?
The best broker for you depends on your individual needs and preferences. If you are a beginner, look for a broker with good educational support and simple trading conditions, such as eToro or IG. For experienced traders, brokers with advanced trading platforms and low spreads, such as IC Markets or Pepperstone, are suitable. It is also important to consider the broker’s licenses and regulation, as well as reviews from other traders.
What is the commission on Forex?
The commission on Forex can vary depending on the broker and the type of account. The main types of commissions include spreads (the difference between the buying and selling price), trading fees, and swaps (the fee for carrying a position overnight). For example, STP and ECN brokers may have low spreads but charge commissions for each trade. Before starting to trade, it is recommended to study the commission structure of the specific broker.
What is the difference between an exchange and a broker?
An exchange is a centralized marketplace where buyers and sellers can trade financial instruments such as stocks, futures, and options. Exchanges ensure transparency and regulation of trading operations. A broker is an intermediary that provides access to trading platforms and executes client orders on various markets, including exchanges and the interbank Forex market. Unlike exchanges, Forex brokers can offer over-the-counter (OTC) trading.
Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.
He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.
