Top Online Best Forex Brokers for 2024

If you are looking to find a forex broker for trading, there are numerous forex broker reviews for a specific broker out there. So, it is evident that you might need to select the best broker after comparing multiple forex reviews. However, comparing different forex trading reviews is time-consuming, and ‘’ will come in handy as we recommend the best online forex brokers based on extensive research. As a result, your time on research will be saved, and you can focus on your trading. So, you can pick any of the brokers listed here and start the trading right away. We have an expert team who always hunt for the best brokers. Read on to get an overview of the FX broker review.

FP Markets

Leverage:1: 500

Deposit:Visa, MasterCard, PayPal, Bank/Wire Transfer, Neteller, Skrill



Instruments:13,000+ Products Forex, Indices, Commodities, Metals, Cryptocurrencies, Bonds, ETFs

Platforms:MetaTrader 4 (MT4), MetaTrader 5 (MT5), WebTrader, Iress and cTrader.

Funding Methods:

Blackbull Markets

Leverage:Up to 1:500



Location:Auckland, New Zealand

Instruments:26,000+ including Shares, Forex, CFDs, Commodities, Crypto

Platforms:TradingView, MT4/5, cTrader, Webtrader, BlackBull CopyTrader, BlackBull Invest

Funding Methods:


Leverage:Up to 1:500



Location:Melbourne, Australia

Instruments:Forex, Commodities, Indices, Shares and Cryptos

Platforms:MetaTrader 4, MetaTrader 5 and TradingView

Funding Methods:

FxPro Review

Leverage:up to 1:500 (1:30 for EU clients)

Deposit:from 100 USD


Location:UK, Cyprus, Bahamas

Instruments:Currencies, Crypto, Indices, Metals, Energies, Softs, Stocks

Platforms:Web, MetaTrader 4, MetaTrader 5, cTrader

Funding Methods:

IC Markets Review

Leverage:up to 1:500

Deposit:from 200 USD


Location:Australia, Cyprus, Seychelles

Instruments:Currencies, Crypto, Indices, Metals, Energies, Softs, Stocks, Bonds

Platforms:Web, MetaTrader 4, MetaTrader 5, cTrader, FIX API (protocol)

Funding Methods:

FBS Markets Review

Leverage:up to 1:3000 (1:30 for EU clients)

Deposit:from 1 USD


Location:Cyprus, Belize

Instruments:Currencies, Indices, Metals, Energies

Platforms:Web, MetaTrader 4, MetaTrader 5, Specific

Funding Methods:

XM Review

Leverage:up to 1:888

Deposit:from 5 USD


Location:Australia, UK, Cyprus, UAE, Belize

Instruments:Currencies, Indices, Metals, Energies, Softs, Stocks

Platforms:Web, MetaTrader 4, MetaTrader 5

Funding Methods:

Axi Review

Leverage:up to 1:500

Deposit:from 5 USD


Location:Australia, UK, UAE, Saint Vincent and the Grenadines

Instruments:Currencies, Crypto, Indices, Metals, Energies, Softs

Platforms:Web, MetaTrader 4, FIX API (protocol)

Funding Methods:

HFM Review

Leverage:up to 1:1000 (1:30 for EU clients)

Deposit:from 5 USD


Location:UK, Cyprus, South Africa, UAE, Saint Vincent and the Grenadines, Seychelles

Instruments:Currencies, Crypto, Indices, Metals, Energies, Softs, Bonds

Platforms:Web, MetaTrader 4, MetaTrader 5, FIX API (protocol)

Funding Methods:

Pepperstone Review

Leverage:up to 1:200

Deposit:from $200


Location:Australia, UK, Germany, Cyprus, UAE, Bahamas

Instruments:Currencies, Crypto, Indices, Metals, Energies, Softs

Platforms:Web, MetaTrader 4, MetaTrader 5, cTrader

Funding Methods:

Importance of Forex Brokers Reviews and Comparison

Undoubtedly, the best forex broker is needed for perfect trading. Nevertheless, when it comes to choosing the top forex broker, you will find hundreds of options. As a result, you might stay confused about which one to choose. Hence, forex broker comparison based on multiple forex brokers reviews is necessary. But, for the newbies comparing forex reviews is highly complicated as they require cross-checking the brokers in different criteria. But, comparing forex broker reviews will ultimately help to choose the right broker according to your needs.

So, it can be said that comparing the forex trading reviews is necessary to choose the best broker based on the FX trading review.

Using Forex Brokers Reviews for Choosing a Broker

Forex reviews can help a trader to find the relevant and correct information in different online forex brokers. Hence, comprehensive knowledge of forex brokers and the forex market will be acquired.

‘’ will be your ultimate place to get forex broker reviews. Therefore, selecting a broker based on numerous forex trading reviews will be a piece of cake and help you to register with the top 100 forex brokers. 

Following is the list of the top reasons to rely on forex brokers reviews from our team in picking up the right trading brokerage.

Forex Reviews from Expert Team

Our team contains a mix of expert personnel who have been trading for years and work as an advisor for many traders. Our highly experienced team with a goal to provide the perfect broker based on forex broker reviews as per trader’s requirements. Further, our team members always remain updated about the market as well as the brokers and comb the right one from numerous forex trading reviews

That being said, the team has already reviewed hundreds of brokers over the years and already found more than 100 forex brokers that are one of a kind. Hence, it is evident that our expert research team is good enough to lead you towards successful forex trading.

Help on Picking Online Forex Brokers

The ultimate forex broker reviews that are given by our teams will eventually work as a guide for you to choose the broker of your desire. Let’s explain it through an example. If you look for forex reviews on a specific broker or even on a different broker, you will get to know the hundreds of options, and as a result, you can fall into confusion. And, the confusion or dilemma may lead you to register with some unexpected scam brokers.

So, our authentic forex trading reviews, which are based on different forex trading companies, will eventually land you with the perfect broker as per your ultimate requirements. On top of that, the top 100 forex brokers list given by our team are well researched, which you can select without any doubt. Therefore, your effort and time will be saved. 

If you see the forex market, you will get the uncountable options, but the top 100 forex brokers list will be your ultimate cheat sheet in picking the correct one.

Multiple Option for Online Forex Brokers

When the well-experienced team recommends the forex broker reviews, they actually invest in a particular broker before providing any feedback about that broker. Nevertheless, the 200+ criteria we check before a recommendation is actually based on ultimate forex trading reviews. Among the 200+ criteria, we double-check some criteria such as fees, forex account types, regulations, withdrawal, bonuses, deposits, platforms are the top criteria while choosing the online forex brokers.

That being said, our recommendation on the top 100 regulated forex brokers don’t only base on a single team; instead, we have multiple dedicated teams of an expert to double-check all the required criteria and end up with the best forex broker reviews. Eventually, this effort may work as a forex bible for many, including the expert as well as the new traders. Hence, as a trader, you can get the best recommendation among the hundreds of forex companies across the world.

Look out the Forex Broker Reviews with no Effort

As the internet is expanding every day, thousands of forex reviews are widely available. And it becomes difficult to know about the perfect broker. So, you might need to check the evidence and trustworthy value to select the final online forex trading platform. 

Moreover, you may need to have firsthand experience to know about the broker, which is eventually time-consuming as well you will have to spend money. But all the forex brokers we have enlisted here on this page will be helpful for any traders as well keenly observe the forex trading reviews.

On top of that, you may also require to search multiple forex reviews for a broker. In some cases, you may face issues while searching the online futures brokers reviews, but you will get the ultimate solution here on our site as we have category-wise information for all the best online forex trading brokers. Hence, you will not face any sort of issues while selecting the best online forex brokers as per your requirements.

Whenever you lookout for the best forex brokers reviews online, you will find thousands of results in front of you, and those results can easily lead you to confusion. Therefore, our listing here will come as a savior and help you to end up with the best broker after comparing different forex trading reviews. As a result, it will save you precious time. 

Get Proper Report on Forex Brokers

As you already know that we offer the ultimate forex reviews, which are based on real-time analysis from the market. Hence, our report is very specific and accurate as the forex market is volatile, and a specific report is necessary to yield profit from the forex. And, eventually, you can get the correct forex brokers reviews. So, we can assure you that the reports you will get on our website are valid.

Notification on Scammers

Our research team not only just searches for the best forex brokers online but also checks out how credible the broker is. So, via the best forex broker reviews, the team also comes across scam brokers too. Hence, the users will be getting credible information about the broker as well the scammers too.

The ultimate goal of our research team is to find a broker that is legit and avoid forex scams brokers. Hence, the eventual forex trading reviews yielded for our brokers.

Furthermore, our website also contains a list of scam brokers. If any broker’s activity is fishy or the traders have a bad experience of losing money, we list them out in the scam broker list. So, you can understand that we always look for the best forex brokers online.

All Forex Brokers Review: Who We Are?

We are mainly a team of forex traders who try different brokers and provide online forex trading reviews for multiple online forex trading company. Further, our team has the experience to use different best online forex trading platform and provide forex reviews on them. Nevertheless, we have a cumulative experience of more than 13 years.

The team has forex analysts, experts, researchers, writers and more who always aim to provide authentic info on different FX broker review. Besides, the team also targets to supply the best online forex trading account through the forex broker reviews. Therefore, using our resources, you can grow as an expert trader. On top of that, the data provided on this site is well organized, and you can easily find anything you need.

Preseasons Behind our Forex Broker Reviews Offerings

Our list contains hundreds of forex brokers with the list of top 100 forex brokers in the world. Now the question is, why do we offer such information with those efforts? Read on to know your answer.

First of all, once we were a newbie like all the new traders and we knew all the difficulties a new trader needs to go through while looking for the best forex trading company. Every new trader finds it difficult to find out the best brokers from several forex reviews. Nevertheless, this problem is more or less universal for the newbies, and sometimes expert traders also need to go through the problems.

And our team members also faced this when they were new in the industry. To help out newbies, we have created this platform to provide the review forex broker.

All Forex Brokers Review Who We Are

Nevertheless, we aim to provide the best forex brokers reviews through our good grasp experience. So, you will get to know the stuff that you can easily implement for your trading via the online forex brokers. On top of that, our team also offers some methodologies for searching authentic forex trading reviews. Hence, the traders of all levels can easily pick the trusted broker as per the needs.

Best Forex Brokers

The research team at ‘’ has listed the top 100 regulated forex brokers of recent times. But our list is not fixed as it is changed from time to time depending on the situation and brokers’ performances. Nevertheless, the forex market remains live round the clock. Hence, brokers always compete to improve their offerings, and that is why the rankings changes, and so do the best forex brokers online list. Nevertheless, the brokers may alter the ranking, and new forex brokers might emerge too.

So, it is recommended that the traders should keep an eye on our site to get the updated forex broker reviews list.

Forex Brokers by Category

To pick the best online forex brokers, the traders might require to check hundreds of brokers which are from multiple categories. So, having the necessary idea on forex brokers by category is highly essential. If the traders are aware of the category, they can easily find forex reviews based on different categories.

Whenever you check out the forex companies, you can easily identify or categorize them based on trading conditions, platforms, liquidity, bonus deposit option, promotions, minimum deposit, business model, availability of the USA account, awards, regulations, and more. On top of that, the forex trading reviews also signify the differences.

So, if the trader registers with the right forex broker category, traders can easily trade according to the requirements. So, knowing the requirements as well as the category should be one of the top priorities to pick the right broker. It is because if the strategies don’t comply with the requirements, your investment might not get you the expected return in the forex market. Further, it may also put an adverse effect on your transaction as well as the quality of the brokerage service. Also, the trader’s trading capability also relies on the brokerage category and ten types.

Forex Reviews

We have the top 100 forex brokers list based on multiple forex reviews. Nevertheless, there 100 brokers were derived from combining the forex trading reviews as well as the best forex brokers reviews. Hence, you will get to know the detailed forex brokers reviews on some of the top brokers.

Besides, you may also have the opportunity to pick the brokers according to your needs after looking at the different FX broker review. But you may choose any of these brokers we just mentioned to dive into the foreign exchange market.

All the brokers enlisted here are made after analyzing the detailed forex trading reviews. Nevertheless, we have initiated trade with all the broker’s platforms before recommending them to the traders.

Each of the forex reviews is done based on the statistical analysis. Hence, we can assure the reliability of these reviews.

Forex Regulation

The forex market is huge and comes with endless opportunities that also provide some unique challenges. As the forex is the largest financial market in the world, it also has the highest amount of liquidity. Although the forex market contains thousands of brokers, the foreign exchange trading companies don’t need to comply with any central regulations. But the countries that allow forex trading regulates the brokers by themselves through the local policies and agencies. Although the countries have separate regulatory bodies, the rules are more or less similar. But, the rules and regulations help us measure the forex trading reviews.

Each county maintains the forex transparency via multiple independent agencies and governmental organizations, and the organizations also observe the forex market movement. Additionally, all the brokers under a jurisdiction require to follow the regulator’s policies and rules. Further, brokers also need to conduct regular audits and keep on communication when necessary.

Also, the brokers are also required to provide uninterrupted service to all the registered traders. Nevertheless, when making the forex broker reviews, we also see if the broker follows the respective forex regulations rules.

The ultimate goal of the local regulations is to provide the ultimate safety of the fund.

Forex Regulation

Crypto is a recent trend in the trading industry. Although it doesn’t have any physical validity, still the value of crypto has skyrocketed. Nevertheless, it is a digital currency that is mainly used to buy anything online. The value of crypto is rising because it has immense value against fiat currencies.

Crypto normally works via an online ledger which ensures the security of online trading. Despite many benefits, the only downside of crypto is that it is unregulated. But, some currencies have already made their trust in the market.

It runs via computer networks. This can be stored in digital wallets, also traded through the exchange. Nevertheless, crypto maintains a record of digital ownership, which is stored in the blockchain. So, the exchange or sending or receiving can be done thigh the digital wallets directly. But the transaction process is easier and secure, which is done through a procedure called mining.

So, we will provide you with a detailed idea about cryptocurrency while you are seeking forex reviews.

Compare the Forex Brokers

Our comparison on different brokers is usually done through comparing the forex trading reviews and best forex broker reviews, and these will eventually help the traders to understand different brokers. This also provides the opportunity for the traders to choose the broker on their own. 

On top of that, you can also choose the best forex trading companies based on the comparisons. Hence, the forex broker comparison will allow you to pick a broker according to your needs.

Forex Brokers by Country

As the forex markets vary from country to country, so do the brokers. Therefore, having an idea of FX brokers based on different countries is necessary. But it is always recommended to trade via the local brokers as the local regulations can support you in the case of any discrepancies. 

Nevertheless, we have a considerable number of lists in the forex brokers by country category, which provide all the information of the broker regarding the location, origin, as well as the countries they provide the service. We have collected all this info through the FX broker review

So, the prospective traders can narrow down the list and choose the broker. If any trader filters down the forex reviews based on the countries, they will have a few options and eventually can easily pick the desired broker. We have maintained the list of the best forex broker reviews from top forex demanded countries. So, you just need to find the best broker according to your location or the country.

Forex Account Types

When it comes to expertise, all the traders are not at the same level. That is why the brokers offer different types of accounts for different levels of traders. However, the forex accounts types are mainly based on entry-level and experienced traders. 

Nevertheless, the entry-level traders should not go for the experienced account types and vice versa. With that note, it can be said that before opening an online forex trading account, the traders should have an idea about their level by understanding the individual forex trading reviews and forex reviews.

Therefore, if you are confused about which account you should go for, you can check out the account types we have mentioned based on multiple forex broker reviews, which will give you a clear idea about your expertise level and the brokers you need to sign up.

Best Trading Platform Review

Platforms are an essential element for the online forex trading account as you cannot conduct any trading without using the platform. Further, a forex trading company is also another important element for your forex trading as they provide the platform for the traders. Normally, traders cannot access a platform without signing up with the broker.

If you check different forex brokers reviews for different brokers, you may see numerous best trading platforms for forex. However, not all the platforms are the best of the best; only a few platforms are considered to be great. But if you are a newbie and have no idea about the platforms, you may need to find the platform through the forex reviews. But as a new trader, you can never judge and find out the best trading platforms for forex, and you will need to use them.

Hence, you will need to do deep research on platforms via forex trading reviews. So, you can check out the forex trading platforms review page to get a detailed idea about the different platforms that are available in the foreign exchange market

Nevertheless, the forex trading platform is a top element to check while choosing a broker. Therefore, the best forex broker reviews can be the savior for confused traders to get the best forex trading platform review. 

Forex Brokers Bonus

Although some traders don’t give much importance to the forex bonus, it can boost the profit. So, if you can look at the FX broker review for the forex bonuses, you can easily understand the ins and out of the forex bonuses. Nevertheless, this can lead you to understand your estimated profit or even the losses from your trading activity. The bonus offerings depend on individual online forex brokers as different brokers may offer different bonuses. 

However, some brokers may not focus on bonuses. But, it is recommended to have a basic idea of forex bonuses regardless of your interest. So, you can do the self-learning on bonuses via the multiple forex trading reviews.

That being said, you will find all the relevant info on bonuses on our website, which will give you the basic to advance bonus idea. Eventually, you may consider signing up with a broker. 

Forex Signals

The main goal of forex trading is to generate profit from the investments. And to do this, nowadays, there are many techs and automation available to assist. Forex signals are such assistance that helps to increase profits.

To get the proper knowledge of forex signals, we offer a detailed guideline via the FX broker review. So, if you look out at the forex signals from our page, you can use them in your forex trading. The signal you will get to know from our site is based on forex reviews. Hence you can rely upon them.

Forex Scam Brokers List

There are many forex scammers out there to make some fortune from the $6.6 trillion forex market. The scammers usually target the new traders, while the expert traders are also at risk. So, whether you are really a new trader or even an expert trader, it is necessary to have some knowledge of the scam brokers. With the proper idea about the scam brokers, you can keep your investment in the safe hand.

So, make sure you check out the forex reviews on the forex scam brokers list before jumping for a broker based on their lucrative offerings. Nevertheless, our list remains updated after looking at the forex market. Therefore, if a new scammer comes to our knowledge, we add them to the forex scam list, which allows the traders to avoid the fake online forex brokers. As a result, you will get to know the best forex companies by omitting the scammers.

Ways to Choose the Best Forex Brokers

When you make your mind about forex trading, choosing the right broker becomes a hassle for many traders. That is why choosing the best forex broker has no alternative. So, we have kept that in mind and listed the top fore brokers via forex broker reviews. So, many traders may want to know how we choose our broker or what the criteria are. Nevertheless, we do follow some standards to set up the forex brokers reviews. 

Keep reading to check all those criteria we check while selecting forex trading companies.

The Methodology We Use

Our methodology for the forex broker reviews is very specific, which we work on improving step by step. And we always aim to improve with the new update. We keenly check out every criterion in detail while compiling the forex brokers reviews. In other words, you can think that we deeply analyze every related thing of a broker. 

Nevertheless, we have a dedicated team who always remain active and update all forex brokers lists. Besides, we also take input from our traders to make a list accurate and up to date. Traders usually recommend the best online forex brokers.

Additionally, we also remain updated according to the updated forex reviews and forex trading reviews. Our primary method to comply with the forex broker reviews is to talk with the expert traders or the traders using a specific broker and enlighten our users on the brokerage for forex trading.

Nevertheless, our expert researchers and traders have more than 14 years of experience, who successfully recommend the best online forex trading platform with the help of a forex broker rating.

If you visit different pages, you can easily get our findings which eventually helps the users to compare different forex reviews.


When selecting the forex broker, regulation is the ultimate priority for review forex brokers based on multiple forex companies. Each legit broker is regulated through the local regulatory body where the broker operates. 

There are also some brokers who operate without having a regulatory status, and these types of forex companies are risky; specifically, they are scam brokers. By checking the regulatory condition of a broker, we can measure the broker’s validity.

For each online forex brokers reviews, we look for the regulatory condition first, and we proceed to review forex broker that is regulated. So, if we find any forex companies that are not regulated, we list them as scam brokers. We look for the license number of a broker to check the regulatory status of a broker.

Understand the Trader’s Requirement

Our experts closely monitor the traders’ needs and try to fulfill their requirements. To do so, we communicate with the traders and understand their needs. However, each trader has unique requirements, and they need different types of brokers. That is the main reason we categorize the broker via forex trading reviews is that traders can easily select the broker according to their requirements. Hence, traders can compare several forex brokers reviews choose the one that matches the requirements.

Specify the Broker as Per Investment Goal

Now that we know the traders’ requirements, we shorten the best forex broker reviews and divide them according to the specific requirements. Aside from this, different forex companies also observe the traders and eventually offer forex reviews. As a result, we work on analyzing the FX broker review to bring out the best forex broker.


Depending on fees, traders might make the trading decision, but our online forex brokers review suggests that the fees actively affect the profitability of a trader; hence, if the fees are announced before the trading, traders can divide their investments online forex trading. 

To increase the trader’s profit and make the calculation effortless, we pick the best online forex trading account which offers the lowest forex-trading fees. So, the prospective traders can use the forex companies that are recommended by us.

Test the Platform

Usually, the forex companies offer the platform details to the trader before they sign up. As a result, traders will understand what they are going to experience. But traders eventually need to test the platform to measure the accessibility. However, traders cannot check all the available platforms one by one. Moreover, it will be time-consuming too. That is why we tested all the available platforms based on the best forex broker reviews. Although there are many platforms, MetaTrader 4 and MetaTrader 5 are mostly used by the brokers as well as the traders. 

Testing Devices

To compile the forex broker reviews, we have tasted all types of platforms available in the market. We have tested those platforms in different devices via the high-speed internet to get the correct data on devices for the forex reviews. Usually, wireless WIFI uses an 802.11n network. Further, we also tested on the 4G network too. Moreover, we have also tested on web platforms through the latest browser on mobile and computer devices.

Nowadays all the online forex trading company have their mobile app for the different operating systems. Our expert also looked at the accessibility of the devices.

Forex Brokers Reviews: Category

Usually, we provide forex reviews on several variables. We provide the priorities for forex companies depending on the points they earn. For example, we look at the commission and fees first, and it weighs 21%. After that, we check out the research capabilities offered by a broker, so it weighs 17%. Later the trading instruments are weighed around 17%. Like these, we check more than 200+ cratered when we do the forex brokers reviews.

Forex Brokers Reviews Education Feature

Education is another important element of a broker. So, for the forex trading reviews, we value the education feature too. So, the advanced education feature is what we look at in the education feature. Normally, the education tool allows the traders to acquire knowledge on forex and apply them in the trading activities by observing the recent trends. So, the education tool is considered one of the top essential tools for a broker. So, the score of online forex brokers reviews also depends on the offered education features too.

Deposit and Withdrawals

Deposit and withdrawal are a part of forex trading as without deposit, no one can start a trade, and without the easy accessibility of withdrawal, the profit cannot be withdrawn. So, the best forex broker reviews weigh the translation methods too. The easy transaction methods may include the debit or credit card, bank transfer, digital payment system, bitcoin, and more.

Customer Service

Having a problem accessing the forex market is inevitable. So, in that case, the customer support system can be the savior. Whether the problem is technical or non-technical, good customer support can get you the desired solution in no time. So, our forex reviews, as well as FX broker reviews emphasize the quality of the customer support of a broker. However, you may not face any problem while using the broker, and it will not harm you to trade with a broker that has excellent customer service.

The usual method of customer support commutation is a phone call, email, text, live chat, etc. Hence, the proper communication methods of the forex companies also get points from us. 

So, as per the forex broker reviews, forex trading companies with excellent customer service get priority on the list. Nevertheless, the offered service time varies on the forex trading companies. Some brokers may offer 24/7 service while maximum brokers offer 24/5 service. Hence, our forex trading reviews consider all types of services and provide final reviews. 

Feedback from Clients

The practical users of a brokerage firm can tell you the factual review of that brokerage. Only the real user can indicate if the broker is good or bad. So, we value the forex broker reviews from the real traders or the first-hand user of that broker. As a result, we check the publicly available forex reviews along with the real feedback. 

Apart from these, our expert traders open real or demo online forex trading account with a broker to get the experience and verify them with the users’ feedback. This is the way we made the ultimate forex broker reviews for the online forex.

Qualities of a Good Forex Broker

All the online forex brokers marketize themselves as the best broker. But a few of the brokers may have good quality, actually. Our forex reviews suggest that a broker can maintain a few qualities to stand out from other brokers. Nevertheless, we check 200+ criteria while creating the reviews, but all the 200 are not important equally. 

According to the best forex broker reviews, maintaining the above-mentioned criteria is good enough for a broker to be called a good broker. So, if any broker cannot maintain the above-mentioned criteria, we don’t keep them under the top 100 forex brokers in the world. 

To keep any broker in the top list in the FX broker review, we definitely look at the top criteria we just mentioned above, and if any broker can maintain those, we list them in the top 100 regulated forex brokers.

What Is Forex Trading?

Normally forex trading is defined as buying or selling the currency. If you don’t understand forex trading, you can compare it to regular stocks. In usual stock trading, the traders buy and sell stocks with the aim to make some profit. Similarly, in forex trading, a trader buys a currency as a pair and holds them for the time being, and sells them if the price increases. 

According to different forex reviews price of a currency may fall too, and the traders may face a loss. However, traders can minimize the loss too.

Another name of forex trading is foreign exchange trading, also FX trading. It is basically the conversion of one currency to another currency. The forex market is the most active financial market with more day $5 trillion daily transactions.

Forex trading is widely known as foreign exchange trading and FX Trading, which is mainly the conversion of different currencies. Nevertheless, the forex market is considered the most active money market that has a daily $5 trillion trading volume.

Forex trading explained as the buyer and sellers who usually buy or even sell the currencies when required. Normally, forex brokers, individuals, or banks remain involved in forex trading. Usually, forex trading can be done in two ways. People can either buy or sell currencies physically in any money exchange firm. Another way of forex trading is to buy or sell forex online. In contrast, the physical currency exchange may be done for emergency purposes and might not have any intention to make a profit. On the other hand, online traders intentionally trade forex to gain some profit out of the trading.

Currencies in forex may fluctuate all the time. Hence, the proper understating of online forex trading brokers reviews along with the forex reviews is essential.

So, you can understand or get the forex knowledge from our detailed forex broker reviews as well as observing the forex trading explained here. 

So, it can be said that, no matter what, you will need to know the forex properly to choose the best broker or initiate forex trading. The FX broker review will be helpful in this case. 

What is a Forex Market?

The forex market is defined as a place to trade foreign currencies. According to numerous forex broker reviews, the forex market can work without having any physical location for trading. It works perfectly virtually, and that’s why the forex market doesn’t sleep. So, traders are allowed to buy or even sell currencies any time they want. 

Although the forex market is massive, there is no central regulation for it. Instead, the countries maintain their own regulation.

Types of Forex Brokers

There are many online forex brokers types, but we recommend trading with a broker that has a clean interface with easily understandable features. However, having knowledge of all types of forex brokers is necessary. You can get an idea of the types of forex brokers based on different FX broker review. 

Different forex reviews suggest that the forex market consists of numerous types of brokers based on the investment size. 

Online forex brokers are the only way to conduct forex trading online. 

The forex market has three types of brokers, and choosing the right broker depends on the investor’s requirements. However, you must need forex broker reviews to choose the perfect broker that meets your needs.

Usually, the forex brokers are market makers, no dealing desk, and ECN brokers. Nevertheless, each of these brokers is unique in terms of their methods of initiating forex trading. So, the traders should have knowledge about each broker type before starting trading. 

As per the forex broker reviews, the following are the details of each broker type.

Non-Dealing Desk

It is known as NDD, which allows direct access to the forex market via several interbank. Nevertheless, NDD doesn’t need any kind of dealing desk operator. Normally, the NDD brokers are used for trading hedge funds, mutual funds, etc. 

The NDD brokers usually find out the best offer for the traders and eventually recommend it. Moreover, NDD also works with the spreads and finds the best possible offering. 

Since NDD doesn’t use any dealing desk operator, you will stay on your side, and NDD will work as a middleman to complete your transaction.

Market Makers

Market makers don’t allow access to any kind of interbank network. The research on forex broker reviews shows us that market makers are popularly known as dealing desk brokers as they work with the traders directly. This type of broker provides a rate to the traders, and the traders will have the option to deny or accept the rate.

In market makers, if the trading volume is large and the broker thinks of overturning the current rate, they may start the trade quickly. 

Different forex reviews come to a conclusion that market makers can offer a two-sided market via a special broker who is also known as the in-house broker. Therefore, if two parties agree to trade on a price, the market maker will conduct the trade for both parties. The trader will buy the bid or sell the offer. The market makers intend to cover the spreads.

For the large trading size, the market maker allows trading promptly if there is any forecast to reverse the market.

ECN Brokers

ECN brokers mainly interconnect the traders; hence sometimes, they are the NDD broker. ECN works via an electronic communication network. On top of that, it also lets the traders communicate with each other. Therefore, the traders can initiate the trading through the banks, multiple retail traders, or even through the hedge funds. 

Nonetheless, ECN forex brokers don’t include the spreads, but they charge commissions from the traders they are involved with.

In ECN, the trader’s identity can hide. Therefore, if any traders want to conduct trading anonymously, ECN will be the best choice. However, this process can be complicated for few traders, especially the newbies, but once they start trading, they will get to know it. But, understanding the ECN broker’s activity is necessary, and you can take help from forex broker reviews.

Sign Up Process with a Forex Broker

The signup process is more or less similar to opening a bank account. So, if you choose a reputed brokerage for forex trading with the help of multiple forex broker reviews, you will be able to open the account with no effort. However, to open a forex account, you will need to go through some steps, which we are going to mention in the following, and at the end of the steps, you will feel how easy it is to open a foreign exchange trading account.

  • In the very first step, the traders will need to select the broker and then visit the website of that intended broker. 
  • Next, you will need to proceed through the signup process, and you will find a signup button on the webpage. 
  • Once you find the button, click on it, and you should be able to see a form asking for various information. You will be required to fill that detailed form out. The required info you may need to provide is name, contact detail, ID number, email, phone number, employer info, date of birth, SSN or tax ID, etc. 
  • Further, some additional info might also be needed to complete the registration, which includes the net worth, annual earning, financial goals, strategy for trading, and more.
  • Later the broker may take a few days for verification. If everything is accurate, your account will be approved, and you will be ready to deposit and start the trading.

Sometimes, filling out the signup form will not finish the registration process of the online forex trading account as some brokers may take a longer time to verify all the provided info. So, the application will need to keep patience until getting any reply from the trader. 

Sign Up Process with a Forex Broker

But, it is also possible that your application is denied by the forex trading company for many reasons. If anything happens like that, you may need to reapply and provide all the info again.

Nevertheless, the common info you will need to supply are-

  • Trader’s Name as well as the address
  • Date of birth of the investor
  • Citizenship of the trader
  • Valid email
  • Phone number
  • The currency the traders want to use
  • A password for the online forex trading account
  • SSN or ID number
  • Trader’s employment status

These are the most needed info you will need to provide. However, some brokers may also ask for some additional info such as-

  • The trader’s annual income
  • Net worth
  • The vision of the trader
  • Previous experience
Compliance with the Financial Industry

It is evident that the present forex industry follows a new trend than the forex market used to be in around 2008. Due to some scam activities, all the forex trading allowed countries became strict after 2008. Hence, the forex trading companies are required to follow the rules imposed by the respective regulatory body. Eventually, the brokers started complying with the rules and regulations; that is what we have found from multiple forex reviews.

So, if you are signing up with a broker, they will ask for all the info we have mentioned above. This information is required by the regulators. So, different online forex brokers reviews suggest that if any broker doesn’t ask you that info, you should check the broker’s validity with the proper regulatory body and make sure they are not in the scam brokers’ list and double-check with the forex broker reviews.

How the Deposit and Withdrawal Work?

A broker’s deposit and withdrawal method depend on that broker’s policy. Despite the different policies and regulatory bodies ‘ membership, almost all the forex trading companies have a similar process for both deposit and withdrawal. 

Usually, all the forex trading company use debit/ credit cards, bank transfers, or digital payment as the deposit and withdrawal method. Besides, some forex trading companies also offer local transaction methods as some countries don’t allow international transaction methods.

Nevertheless, the deposit and withdrawal process is not rocket science, and it works like a normal bank transaction. In the case of a deposit, credit card or debit card transaction can be done right away, but the bank transfer may take time as it requires approval from the bank. For withdrawal, the usual time is 3-5 business days, but some online forex trading company may take more than 5 business days.  

Is Forex Broker Safe?

All the forex brokers we have mentioned on our website are safe as we have double-checked all of them. But the brokers we have not mentioned on our website may not be safe. Still, it depends. It is needless to say, all the brokers we have mentioned on our website passed all the 200 criteria required for the forex broker reviews. On top of that, you should not forget to check the following facts to identify the safe broker. 

  • When you select a broker depending on the forex reviews, you should compile all facts first and generate all the info. But you should not compile the list if you are in a hurry, as some forex broker reviews may get you wrong info.
  • New forex trading companies start their business so often, and sometimes their credibility is questionable. So, it is recommended to avoid them, but still, you can choose the new brokerage for trading. In that case, make sure you cross-check the validity of the broker through different forex reviews.
  • Research on forex brokers is an important element. Don’t just rely on the lucrative advertisement and check the broker reliability through the forex broker reviews.
Avoiding the Scam Brokers

As you already know that there are hundreds of scam forex brokers out there. But, it is not possible to identify the scammers quickly. That is why you should check the online forex brokers reviews from different sources if you have any doubt about a broker. 

You should also keep in mind that some forex trading companies introduced themselves as legit brokers but later turned out as scammers. So, double-checking the broker with the regulatory body is necessary to avoid any potential scammer.

The best way to avoid the scam broker is to choose the broker from the top 100 regulated forex brokers lists from our website. Additionally, you may also look at the all forex brokers list via our “Forex Scam Brokers List” page and don’t choose any of the online forex brokers on this page.

Demo Trading Benefits

The forex demo account is usually a good way to measure the credibility of a forex broker. Besides, it lets the trader trade in real-time through virtual money. Additionally, experienced traders can check their trading strategy via demo trading. So, we also tried demo trading to choose the brokers. Therefore, you may check out the broker recommended by us, and you may check your forex strategy via the best demo trading platform.

How We Made the Top Online Forex Brokers List?

We made a list through extensive research and eventually made the list of top 100 forex brokers in the world. Next, we have picked the regulated brokers only based on numerous forex trading reviews and sorted them in the top 100 regulated forex brokers list. Next, we checked if these brokers complied with our benchmark. After the filter, we go through each forex broker rating from multiple verified sources. Through these steps, we made the top forex brokers reviews list.

Final Words

If you are determined to pick the best forex brokers, there is no alternative to checking through the best forex broker reviews. In this case, you may follow our forex reviews as these are done through several processes with the official verification. 

Furthermore, our list always remains up to date, and you can choose from the updated forex trading companies. 

So, will be your ultimate place to keep yourself updated with the top forex brokers. 

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