Best B-Book Forex Brokers 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top B-Book Forex brokers based on our analysis:
- 1
AvaTrade - Best B-Book Forex broker - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 2
Libertex - Tight spreads and attractive trading conditions. Wide selection of trading assets. Rich selection of educational materials and analytics. - 3
ActivTrades - Wide range of trading assets. A wide variety of trading platforms. Extensive training materials including webinars, videos, articles and guides. - 4
IFC Markets - A wide range of trading assets. Variety of trading platforms. Educational materials for traders of all experience levels. - 5
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account. - 6
InstaForex - Large selection of trading instruments. PAMM accounts and the ForexCopy automatic trade copying service for passive income. 24/7 efficient customer support. - 7
Fibo Group - A wide selection of trading and investment accounts. Low spreads, which facilitates more profitable trading. A wide range of payment methods. - 8
FOREX.com - Broker with many years of history and a global reputation. A variety of deposit methods. A wide variety of available markets and products. - 9
IG - Licenses from regulators with a high level of credibility. Tight spreads. A variety of markets and products. - 10
These B-Book Forex brokers are selected for their robust regulation, excellent trader reviews, advanced platforms, and competitive trading conditions in the market.
Top B-Book Forex Brokers List
1. AvaTrade
AvaTrade is ideal for traders looking for various trading tools and a high level of investment protection. Beginners will be comfortable with the intuitive interface of the AvaTradeGO mobile platform, while experienced traders will appreciate the depth of MetaTrader's customization and analytical tools. However, traders who need access to STP or ECN accounts should pay attention to other brokerage companies.
Pros and Cons of AvaTrade
Pros
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
2. Libertex
Libertex is an established broker offering various trading instruments and educational resources. With zero commission on deposits and various analytical tools, this broker can appeal to novice and experienced traders.
Pros and Cons of Libertex
Pros
- Tight spreads and attractive trading conditions.
- Wide selection of trading assets.
- Rich selection of educational materials and analytics.
Cons
- High swaps and inactivity fee.
3. ActivTrades
ActivTrades is suitable for beginner traders who value simplicity and intuitive trading platforms, as well as a variety of educational materials to improve their skills. Moreover, this broker can be a suitable option for experienced traders who prefer to trade various instruments and use the powerful features of the MetaTrader 4, MetaTrader 5 and TradingView platforms.
However, for traders with more specific requirements, such as a variety of trading accounts or individual conditions for professional traders, ActivTrades may be less attractive.
Pros and Cons of ActivTrades
Pros
- Wide range of trading assets.
- A wide variety of trading platforms.
- Extensive training materials including webinars, videos, articles and guides.
- Professional Support Team.
Cons
- Lack of diversity in trading accounts.
4. IFC Markets
IFC Markets is a reliable and licensed broker, offering a broad spectrum of trading instruments and platforms for investors of various experience levels. With multilingual support and extensive educational resources, the company aims to provide its clients with a comfortable and efficient trading environment.
IFC Markets could be a suitable choice for investors seeking a variety of trading instruments and platforms.
Pros and Cons of IFC Markets
Pros
- A wide range of trading assets.
- Variety of trading platforms.
- Educational materials for traders of all experience levels.
- Tools for creating synthetic tools are available.
Cons
- High swaps.
5. XM
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
6. InstaForex
InstaForex is a popular broker that offers a wide range of trading instruments and specialized accounts. The unique possibility of accruing interest on the account balance, ForexCopy's automatic transaction copying service, and support for cryptocurrency trading make InstaForex an attractive choice for a variety of traders. Customer support is available round the clock, and account replenishment does not charge any commission, which is a significant plus.
InstaForex is suitable for beginner traders and investors interested in passive income through PAMM accounts, as well as for those looking for innovative features such as cryptocurrency trading and automatic trade copying.
Pros and Cons of InstaForex
Pros
- Large selection of trading instruments.
- PAMM accounts and the ForexCopy automatic trade copying service for passive income.
- 24/7 efficient customer support.
- Wide range of methods for depositing and withdrawing funds.
- Decent analytical section.
Cons
- Trading commissions are above average.
- No trading accounts with market execution of orders (ECN or STP).
- Broker commission on fund withdrawals.
7. FIBO Group
FIBO Group is suitable for various types of traders, including beginners and experienced ones. The broad selection of accounts and trading platforms allows every trader to find an appropriate solution. Additionally, educational materials and analytics will aid in skill development and making informed trading decisions.
The broker offers competitive trading conditions, various instruments, and robust support. However, fees and the absence of certain assets may limit its potential.
Pros and Cons of Fibo Group
Pros
- A wide selection of trading and investment accounts.
- Low spreads, which facilitates more profitable trading.
- A wide range of payment methods.
- Availability of various trading platforms.
- Comprehensive analytics and educational materials.
Cons
- An inactivity fee.
- Withdrawal fees.
- The absence of stocks and ETFs in the range of instruments.
8. FOREX.com
FOREX.com is an excellent broker for trading in the Forex and CFD markets. They offer fast execution speeds, a wide selection of currency pairs, and other assets for trading. Their customer service is outstanding, and multiple financial authorities regulate them.
Pros and Cons of FOREX.com
Pros
- Broker with many years of history and a global reputation.
- A variety of deposit methods.
- A wide variety of available markets and products.
- Advanced analytical tools and daily updates from the company's professionals.
- Comprehensive educational materials for all levels of traders.
Cons
- Lack of specialized accounts.
- High transaction fee on DMA Account.
9. IG
IG is a highly regulated broker with licenses from reliable financial authorities, providing clients with high funds protection. Thanks to narrow spreads, traders can effectively manage their costs and increase the profitability of their operations. Quality trading platforms and advanced analytical tools support informed trading decisions, while extensive educational resources make IG attractive to traders of all experience levels.
Pros and Cons of IG
Pros
- Licenses from regulators with a high level of credibility.
- Tight spreads.
- A variety of markets and products.
- Extensive set of analytical tools and content.
- Quality educational resources for different levels of traders.
Cons
- Limited choice of trading accounts.
- High trading fee on DMA account.
- Inactivity fee.
- Limited choice of payment methods.
10. Plus500
Plus500 is ideal for traders seeking a convenient and intuitive platform with a broad spectrum of trading instruments. It's particularly well-suited for those who value a diverse range of CFDs on stocks, indices, currencies, commodities, and ETFs. The built-in Insight+ analytics tool is a significant advantage for those keen on analyzing trends and activities based on real-time data.
Pros and Cons of Plus500
Pros
- Diversity of trading assets.
- Intuitive trading platform.
- 24/7 support.
- Built-in analytics.
Cons
- Limited educational resources.
- Limited channels for communication with technical support.
- Limited choice of trading accounts.
How the List of the Best B-Book Forex Brokers is Compiled
The selection of the best B-Book Forex trading brokers is based on a thorough and impartial evaluation of several key criteria:
Each broker’s position on our list is determined by its overall ranking within our comprehensive Forex brokers list. We conduct an in-depth analysis of various factors, including the broker’s performance, financial stability, service quality, and client satisfaction.
Our broker ratings are created using a meticulous methodology that assesses regulatory compliance, spreads, commissions, trading platforms, and customer support quality.
This list is dedicated to the B-Book brokers, ensuring traders can take advantage of efficient trade execution, competitive trading conditions, and reliable platforms that enhance their trading experience.
These rigorous standards ensure that the brokers featured on our list not only operate under the B-Book model but also meet high benchmarks for reliability and service excellence, making them ideal partners for effective and secure Forex and CFD trading.
FAQ
What is a B-Book broker?
A B-Book broker is a type of Forex broker that acts as a market maker by taking the opposite side of a client's trade. Instead of passing the trade to the open market, the broker keeps the trade in-house, assuming market risk and profiting from the trader's losses.
How do B-Book brokers make money?
B-Book brokers make money primarily from the losses incurred by their clients. Since they take the opposite side of trades, any loss a trader experiences is a gain for the broker. Additionally, they may also earn through spreads, commissions, and other fees. Some B-Book brokers may hedge their exposure to reduce market risk, further managing their potential profits and losses.
What is the difference between A-Book and B-Book brokers?
The main difference lies in how they handle client trades. A-Book brokers, often operating as STP (Straight Through Processing) or ECN (Electronic Communication Network) brokers, pass trades directly to the market without a dealing desk, earning a commission or spread. This execution model typically involves no conflict of interest with clients. In contrast, B-Book brokers use a dealing desk to keep trades internally, profiting from client losses. The downside of the B-Book execution model is the potential conflict of interest, as the broker benefits when the client loses.
Which is better: A-Book or B-Book broker?
The choice between A-Book and B-Book brokers depends on your trading preferences. A-Book brokers are often favored by traders seeking transparency and direct market access, as they route trades through a liquidity provider. B-Book brokers may offer lower costs and higher leverage, but they can have a conflict of interest since they profit from client losses.
How do I know if my broker is A-Book or B-Book?
It can be challenging to determine whether your broker is A-Book or B-Book. Some brokers operate both models (hybrid model). Reviewing the broker’s regulatory disclosures, and terms of service, or asking them directly may provide some insight.
Is B-Booking profitable for brokers?
Yes, B-Booking can be highly profitable for brokers, especially if the majority of their clients are not consistently profitable. By taking the opposite side of trades, brokers can capitalize on the losses of their clients.
Why do brokers choose the B-Book model?
Brokers choose the B-Book model because it allows them to potentially earn more profit by keeping trades in-house. It also provides them with greater control over their risk management strategies.
What risks are involved with B Book brokers?
The primary risk with B-Book brokers is the potential conflict of interest. Since the broker takes the opposite side of your trades and acts as the counterparty, profiting from client losses, there might be concerns about fair treatment or order manipulation. However, well-regulated B-Book brokers are expected to follow strict guidelines to mitigate these risks and ensure fair trading practices.
How do B-Book brokers process trades?
B-Book brokers process trades internally, meaning they don’t send client orders to the open market. Instead, they match orders against other clients' orders or take the opposite side themselves, keeping the trades within their own system.
Are B-Book brokers regulated?
Yes, many B-Book brokers are regulated by reputable financial authorities. Regulation ensures that they operate within certain guidelines, helping to protect clients and ensure fair trading practices, despite the inherent conflict of interest in the B-Book model.
