Forex broker comparison reviews – Choose the best broker for you

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There are over 3500 authorized and regulated Forex brokers in the world that serve almost 10 million international traders on a daily basis. How do you find the best Forex broker among them? There are several criteria according to which you can choose the most suitable brokerage company for you. However, you will always be left with several options of brokers and you will need to decide which one is more appropriate for your trading goals, strategies, trading capital, and risk tolerance.

We will be providing extensive reviews on top Forex brokers comparisons to reveal which of them have better trading conditions, more advanced trading platforms, higher trader benefits or bonuses, lower trading costs, more diverse financial instruments portfolios and etc. With the help of these broker comparison reviews, you will be able to choose the most suitable option from the list of the top Forex brokers worldwide.

The top Forex brokers comparison

Not many traders have tens of thousands of US dollars in their pockets freely available to invest in Forex trading. On the contrary, the majority of them will have limited financial resources to start trading with currency pairs. Therefore, we have picked the best Forex brokers that support low-cost trading but at the same time do not compromise the quality. We identify the cheapest Forex brokers with the best trading conditions according to several criteria:

  • Minimum deposit requirement (less or equal 50 USD)
  • Availability of Micro account types (or Cent account)
  • Tight spreads (below market average)
  • Commission-free accounts (at least one with min. deposit of less than 50 USD)
  • No deposit or withdrawal fees (0% commission on payments)
  • Supporting several payment methods (bank transfers, credit/debit cards, e-payments)
  • Advanced trading platforms (MT4, MT4, cTrader, etc)
  • Diversity of trading assets (at least 3 different asset classes supported)

Lowest minimum deposit brokers

brokers comparisonThe lowest deposit requirement comes with an FBS broker – traders should deposit at least 1 US dollar to activate their trading accounts. However, FBS is not as popular as XM or HotForex brokers that are also the low deposit Forex brokers offering starting capital requirement of 5 US dollars only. If you would like to compare these three brokers follow our comparison reviews on FBS vs XM and HotForex vs XM.

 Trade with just 5 USD at XM

Best Micro account brokers

broker comparisonsMost of the Forex brokers will offer different live trading account types that come with different minimum trading capital requirements and trader benefits. The best Micro account types will also offer trading in micro-lots instead of the standard lot sizes. HotForex, Exness, XM and FXTM brokers offer the most convenient Micro accounts which you can explore in XM vs FXTM and HotForex vs Exness comparison reviews.

Forex brokers with best spreads

forex broker comparisonsSpread is one of the main sources of Forex brokers. However, due to high competition, the brokers have to offer better spreads than available on the market. We consider the best spreads to vary between 0.4 pips to 0.9 pips on most popular Forex currency pairs like EUR/USD. The brokers with the tightest spreads are XM, AvaTrade, Plus500, and Trading 212. The comparison reviews are available for XM vs AvaTrade, AvaTrade vs Plus500, and Plus500 vs Trading 212.

Forex brokers with no commission

forex brokers comparisonCommission-free trading is one of the cheapest ways of trading Forex. However, it is not available with all the brokerage companies but with the best ones only. We consider the best no-commission brokers that offer commission-free trading on all financial instruments at least on a single account type with low deposit requirements. The best commission-free broker reviews are XM vs Pepperstone and AvaTrade vs Pepperstone.

Brokers with commissionless payments

broker comparison reviewsIt is extremely crucial to have an opportunity of depositing and withdrawing funds with the brokers without any additional costs. Many Forex brokers will offer non-commissionable withdrawals and deposits and some of them might even reimburse any costs related to the deposits charged by payment service providers. An example of such a broker is XM. Read the comparison reviews of the brokers with commissionless payments: XM vs OctaFX, and AvaTrade vs IG.

 Deposit with 0 commissions at HotForex

Forex brokers with multiple payment options

broker comparison reviewIn international Forex trading, it is very important to have access to numerous payment methods since bank transactions can be very costly and time-consuming, whereas local card issuers might not support international transactions. There are several brokers that support Skrill, PayPal, AstroPay, M-Pesa, or similar e-payment platforms along with traditional methods. Three best brokers with diverse payment solutions can be found in the following comparison reviews: AvaTrade vs FXTM and AvaTrade vs XTB.

Best Forex trading platforms

forex broker comparison reviewThe best Forex brokers should ideally support traditional trading platforms like MetaTrader 4, MetaTrader 5, Copy traders and Social trading platforms. One of the best social trading brokers is eToro, which is frequently compared with AvaTrade (supporting six different platforms) and Plus500 (proprietary CFDs platforms). Read the AvaTrade vs eToro and Plus500 vs eToro comparison reviews to decide which platform suits your needs better.

Most diverse asset portfolio

forex brokers comparison reviewOffering only a single asset class would harm the traders since the very first recommendation is to diversity one’s trading portfolio. Therefore, when looking for the best Forex brokers we always look at the availability of a variety of financial instruments. All three brokers AvaTrade, XM, and IC Markets offer access to more than 1250 financial instruments with competitive conditions. Follow the reviews on AvaTrade vs IC Markets and XM vs IC Markets to choose the best broker among them.

FAQs on Forex broker comparison reviews

Which Forex brokers are the best?

HotForex and XM are two of the best Forex brokers worldwide. These two brokers have the lowest minimum deposit requirement starting at 5 US dollars. They offer at least four different account types with tight spreads below 1 pip on the most popular currency pairs. They also support commission-free trading and provide advanced trading platforms, such as MetaTrader 4 and MetaTrader 5. Furthermore, XM and HotForex run extensive promotional campaigns for new registering users including both no deposit and deposit bonuses.

Which is the best Forex broker for beginners?

AvaTrade is considered to be the best Forex broker for beginners. Firstly, because the broker offers user-centric trading platforms with free tutorials on how to use them. Secondly, AvaTrade has one of the best free educational packs for beginner Forex traders which include eBooks, guides, glossaries, video lessons, consultations and so much more. Finally, the broker introduces AvaProtect which is a new risk management tool protecting the clients’ funds up to 1,000,000 USD against loss-making.