Best Market Maker Forex Brokers in 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top Forex market maker brokers based on our analysis:
- 1
AvaTrade - Best Market Maker Forex Broker - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 2
CMC Markets - Low trading fees. Wide range of markets and products. Access to the popular MetaTrader 4 and CMC Markets platforms. - 3
IFC Markets - A wide range of trading assets. Variety of trading platforms. Educational materials for traders of all experience levels. - 4
Libertex - Tight spreads and attractive trading conditions. Wide selection of trading assets. Rich selection of educational materials and analytics. - 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 market-maker brokers have been meticulously selected for their solid regulatory status, excellent user reviews, advanced trading platforms, and competitive trading conditions.
Top Market Makers 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. CMC Markets
CMC Markets has been a reliable CFD and Forex broker in the business for a long time. Top-tier financial authorities regulate the company, offers an excellent trading platform, and has low commission fees.
We believe it is an excellent choice for beginners and experienced traders. CMC Markets is a good option if you are seeking a trustworthy broker with extensive experience.
Pros and Cons of CMC Markets
Pros
- Low trading fees.
- Wide range of markets and products.
- Access to the popular MetaTrader 4 and CMC Markets platforms.
- Extensive analytical materials.
- Comprehensive educational materials.
Cons
- Limited account options.
- Inactivity fee.
- No online chat.
3. 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.
4. 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.
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 Market Maker Forex Brokers is Compiled
The selection of the best Forex market makers is based on a thorough and objective set of criteria:
The broker's position on the list is determined by its ranking in our overall Forex brokers directory. We conduct a meticulous analysis of various factors, including the broker's performance, financial stability, service quality, and customer satisfaction.
Our broker ratings are derived from a rigorous methodology that evaluates regulatory licenses, spreads, commissions, trading platforms, and the quality of customer support.
The list exclusively features the Forex market makers. This ensures that traders can benefit from the liquidity, stability, and favorable trading terms that market makers provide, enhancing their overall trading experience.
These standards ensure that the brokers included in our list not only operate as market makers but also meet high standards of reliability and service quality, making them ideal choices for effective and secure Forex and CFD trading.
FAQ
What is a market maker Forex broker?
A market maker Forex broker, often referred to as a dealing desk broker, is a type of broker that sets bid and ask prices in the market and acts as the counterparty to the trades of its clients. Instead of matching trades between buyers and sellers, the market maker takes the opposite side of the client’s trade, using its dealing desk to manage positions.
How do market makers make money?
Market makers earn money primarily through the spread, which is the difference between the bid and ask prices. They may also profit from holding positions against traders, though this is balanced with managing overall risk exposure.
What are the differences between market makers and ECN brokers?
Market makers create a market for clients by setting bid/ask prices, while ECN (Electronic Communication Network) brokers provide direct market access by connecting traders directly to the interbank market, allowing them to trade with other participants. ECN brokers typically offer tighter spreads but charge a commission, while market makers often incorporate the cost into the spread.
Are market makers the same as brokers?
No, not all brokers are market makers. Brokers can operate under different models. Market makers, also known as B-Book Forex brokers, take the opposite side of trades, meaning they internalize client orders and can potentially profit from clients' losses. On the other hand, A-Book Forex brokers, which include ECN (Electronic Communication Network) and STP (Straight Through Processing) brokers, connect traders directly to external liquidity providers without taking a position against them.
Which Forex broker is a market maker?
Several well-known Forex and CFD brokers operate as market makers, including brokers like IG and Forex.com. However, the status of a broker as a market maker can depend on the account type or trading conditions offered.
What are the pros and cons of market maker brokers?
Pros: Market makers typically offer fixed spreads and guaranteed liquidity. They can also offer lower minimum deposits and faster execution times.
Cons: There is a potential conflict of interest, as the broker might trade against you. Additionally, spreads may be wider compared to ECN brokers during volatile market conditions.
Do market makers trade against you?
Market makers may take the opposite position of your trade, meaning if you buy, they sell, and vice versa. While this can create a conflict of interest, regulated brokers are required to operate fairly and transparently.
Who are the biggest market makers in Forex?
Some of the largest market makers in Forex, who also serve as key liquidity providers, include major banks like JPMorgan, Citi, and UBS, as well as prominent brokers such as IG and Forex.com. These institutions ensure market liquidity by consistently offering buy and sell prices, facilitating smooth trading conditions.
Why are market makers important in Forex trading?
Market makers are crucial because they provide liquidity to the market, ensuring that traders can enter and exit positions at almost any time. They help stabilize the market by continually offering buy and sell prices, which is essential for a smooth trading experience.
