Best Forex Brokers in 2025

Trading forex involves significant risks and complexities compared to traditional investments, prompting every trader to ask: what are the best forex brokers in the US and the world? In this article, we are going to cover all essential factors you should consider when choosing a broker, providing lists of the top forex brokers globally and their comparisons.

What Is a Forex Broker?

A forex broker acts as an intermediary between retail traders and the global forex market, allowing individuals to trade currency pairs like EUR/USD or GBP/JPY. Forex brokers provide trading platforms, tools, and services to facilitate buying and selling currencies. By offering leverage, they enable traders to control larger positions with smaller capital. The best forex brokers are regulated providing transparency and security for reliable trading.

What Are the Best Brokers for Forex?

Below you will find a list of the top Forex brokers. The brokers were ranked according to their regulatory status, fees, currency pairs offered, demo account availability, platform features, and customer support.

#1. Exness 

Best for trading fees and platform features

Regulation: FCA, CySEC, FSCA, and others.

Fees: Low spreads, no hidden fees.

Currency Pairs: 100+ pairs.

Demo Account: Available.

Features: MT4, MT5, user-friendly interface, and social trading.

Strengths: High leverage and low entry barriers for new traders.

#2. FxPro 

Best Forex broker for execution speed

Regulation: FCA, CySEC, FSCA.

Fees: Tight spreads from 0.1 pips; some commission-based accounts.

Currency Pairs: 70+ pairs.

Demo Account: Available.

Features: MT4, MT5, cTrader; comprehensive analytical tools.

Strengths: Regulated globally, suitable for institutional and retail traders.

#3. Moneta Markets 

Best for trading infrastructure

Regulation: CySEC, FSCA, SVG FSA.

Fees: Competitive spreads starting at 0.1 pips.

Currency Pairs: 45+ pairs.

Demo Account: Yes.

Features: MT4, MT5, proprietary Pro Trader; copy trading options.

Strengths: Robust features for beginner and intermediate traders.

#4. Pocket Option 

Best for beginner and intermediate traders

Regulation: Unregulated.

Fees: Fixed spreads; binary options fees.

Currency Pairs: 30+ pairs.

Demo Account: Yes.

Features: Limited advanced tools; geared toward binary options.

Strengths: Simple for beginners but lacks depth for forex traders.

#5. Tastyfx 

Best Forex broker for U.S. Traders

Regulation: Not widely regulated.

Fees: Minimal publicly available information.

Currency Pairs: Unknown.

Demo Account: Not confirmed.

Features: Limited platform and tools.

Strengths: Niche broker with sparse details.

#6. Pepperstone 

Best for low spreads, fast execution, and support for multiple platforms like MT4, MT5, and cTrader
Regulation: ASIC, FCA, CySEC.

Fees: Tight spreads, from 0.0 pips; low commissions.

Currency Pairs: 60+ pairs.

Demo Account: Unlimited.

Features: MT4, MT5, cTrader; strong execution speed and tools.

Strengths: Perfect for scalpers and ECN trading.

#7. RoboForex 

Best for higher leverage

Regulation: IFSC (Belize).

Fees: Low spreads; offers bonus programs.

Currency Pairs: 40+ pairs.

Demo Account: Available.

Features: Multiple platforms including MT4, MT5, and cTrader.

Strengths: Diverse account options and bonus schemes.

#8. Plus500

Best Forex broker for futures trading platform in the US

Regulation: FCA, CySEC, ASIC.

Fees: Fixed spreads, no commissions.

Currency Pairs: 70+ pairs.

Demo Account: Yes.

Features: Proprietary platform; basic charting tools.

Strengths: Easy-to-use platform for new traders.

#9. Forex.com 

Best for mobile trading

Regulation: CFTC, NFA (U.S.), FCA, CySEC.

Fees: Spreads from 0.2 pips; commission accounts.

Currency Pairs: 80+ pairs.

Demo Account: Available.

Features: Proprietary platform, MT4/MT5, strong educational tools.

Strengths: A trusted U.S.-regulated broker with broad resources.

#10. AMarkets 

Best for emerging market traders

Regulation: Unregulated but a member of The Financial Commission.

Fees: Low spreads (from 0.2 pips); $2.5/lot commission on ECN accounts.

Currency Pairs: 50+ pairs.

Demo Account: Yes.

Features: MT4, MT5, copy trading, high leverage up to 1:1000.

Strengths: Accessible platform and tools, low entry deposit, suitable for beginners.

#11. LiteForex 

Best for higher leverage options

Regulation: Unregulated.

Fees: Moderate spreads; high leverage.

Currency Pairs: 50+ pairs.

Demo Account: Yes.

Features: MT4, MT5; limited extra features.

Strengths: Suitable for beginner traders.

#12. Tickmill 

Best Forex broker for research tools

Regulation: FCA, CySEC, FSA.

Fees: Low spreads starting at 0.0 pips; commissions on pro accounts.

Currency Pairs: 80+ pairs.

Demo Account: Yes.

Features: MT4/MT5, minimal slippage.

Strengths: Tailored for scalpers and algorithmic traders.

#13. IC Markets 

Best for low spreads

Regulation: ASIC (Australia), CySEC (EU), FSA.

Fees: Low spreads starting at 0.0 pips; commission-based accounts.

Currency Pairs: 60+ pairs.

Demo Account: Available.

Features: MT4/MT5, cTrader, advanced charting, excellent support.

Strengths: Reliable for high-frequency and professional traders.

#14. FXCM 

Best for active traders, algorithmic traders, and beginners

Regulation: FCA, ASIC, CySEC.

Fees: Moderate spreads; no commissions.

Currency Pairs: 40+ pairs.

Demo Account: Yes.

Features: MT4, Trading Station, robust tools.

Strengths: Well-established and beginner-friendly.

#15. AvaTrade        

Best for beginners or multi-asset traders

Regulation: ASIC, FSCA, FSA, CBI (Ireland).

Fees: Fixed spreads; no commissions.

Currency Pairs: 50+ pairs.

Demo Account: Yes.

Features: MT4, MT5, AvaTradeGO app.

Strengths: User-friendly, with rich resources for education.

How to Choose the Right Forex Broker

Selecting the best Forex broker is critical for successful trading. Here are some essential points to consider:

1. Regulation and Security: Make sure the broker is regulated by reputable authorities like the FCA (UK), NFA (U.S.), ASIC (Australia), or CySEC (Cyprus). Being regulated means that the broker complies with financial laws and protects customer funds.

2. Trading Costs: It is wise to choose brokers with competitive spreads, low commissions, and transparent pricing. Some brokers, for example, Pepperstone, offer spreads as low as 0.0 pips for ECN accounts.

3. Trading Platforms: Platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader are popular for their analytical tools and customizability. You can use a demo account to test the platform to make sure it is suitable for you.

4. Leverage and Margin Requirements: Examine the available options for leverage. While U.S. brokers are limited to 50:1 on major currency pairs, offshore brokers may provide up to 500:1.

5. Customer Support: It is recommended to choose brokers with 24/7 customer support. You can ensure their reliability by checking reviews of the best forex brokers online.

6. Educational Resources: They are especially helpful for beginners. Brokers, like FOREX.com, offer extensive educational materials for improving trading skills.

Key Costs to Consider in Forex Trading

Here are the main types of costs you should consider:

1. Spreads are the difference between the bid and ask price of a currency pair. Tight spreads, often as low as 0.0 pips on ECN accounts, are preferred by traders as they reduce transaction costs. Brokers with variable spreads might see wider spreads during volatile market conditions, so it’s essential to understand how spreads might fluctuate.
2. Commissions: Some brokers charge a commission for each transaction, either as an alternative to or in addition to the difference between the bid and ask prices. ECN brokers often provide tighter spreads but charge commissions, which are typically calculated per lot traded. For example, the typical fee ranges from $3 to $7 per round turn.
3. Overnight Swap Fees: If you maintain a position overnight, you may be subject to swap charges based on the interest rate difference between the two currencies in the pair. These charges can fluctuate and may even be positive, depending on the market conditions and the broker.
4. Deposit and Withdrawal Fees: Some of the best forex brokers charge fees for deposits or withdrawals, particularly when specific payment methods are used. We recommend confirming the cost structure for transferring funds to and from your trading account.
5. Inactivity Fees: If you leave your account unused for an extended period, some brokers will apply inactivity fees. These fees vary, so it’s important to check the broker’s policy on account usage.
6. Platform and Data Fees: Most brokers provide free access to platforms like MetaTrader. However, some might charge for premium features, data subscriptions, or proprietary tools.

By understanding and comparing the costs of the best forex brokers, traders can make informed decisions about their trading strategies to optimize their results while minimizing expenses.

Which Is the Best Site to Compare Forex Brokers?

Many comparison websites analyze forex brokers based on their features, regulations, and user reviews. One of the most popular resources is ForexBrokers.com, which offers detailed reviews, the best forex broker comparisons, and information on regulatory compliance. Another well-known option is Investopedia, a renowned online resource that provides rankings, educational materials, and guides on brokers. 

Additionally, CompareForexBrokers.com offers head-to-head comparisons of brokers, highlighting important metrics such as spreads, platforms, and more. It’s worth noting that review websites like Revieweek.com and Trustpilot allow users to share their experiences with brokers, providing valuable insights into customer satisfaction levels and potential issues even when dealing with some of the best brokers in the industry.

Best Forex Brokers in the World

This comparison highlights a balance between features, costs, and regulations that traders should consider when selecting the best forex brokers. 

Fx Broker	Platforms	Demo Account	Leverage	Min Deposit	Regulation
IC Markets	MT4, MT5, cTrader	Yes	Up to 1:500	$200	ASIC (Australia), CySEC (Cyprus), SCB (Bahamas)
Pepperstone	MT4, MT5, cTrader	Yes	Up to 1:400	$200	ASIC (Australia), FCA (UK), CySEC (Cyprus)
FxPro	MT4, MT5, cTrader, Proprietary	Yes	Up to 1:500	$100	FCA (UK), CySEC (Cyprus), FSCA (South Africa)
Exness	MT4, MT5, Exness Terminal	Yes	Up to 1:2000	$1	FCA (UK), FSCA (South Africa), CySEC (Cyprus)
Forex.com	MT4, Proprietary	Yes	Up to 1:50 (US)	$100	CFTC, NFA (US)
Tickmill	MT4, MT5	Yes	Up to 1:500	$100	FCA (UK), CySEC (Cyprus), FSCA (South Africa)
Moneta Markets	MT4, MT5, Proprietary	Yes	Up to 1:500	$50	ASIC (Australia), FCA (UK)
AvaTrade	MT4, MT5, AvaOptions	Yes	Up to 1:400	$100	Central Bank of Ireland (Ireland), ASIC (Australia), FSCA (South Africa)
RoboForex	MT4, MT5, cTrader, Proprietary	Yes	Up to 1:2000	$10	IFSC (Belize)
LiteForex	MT4, MT5	Yes	Up to 1:500	$50	CySEC (Cyprus)

Best Forex Brokers in the U.S.

Due to strict regulations, there are only a few brokers that U.S. traders can use. Here’s the cream of the crop:

1. Forex.com

• Platforms: MT4, MT5, and a proprietary platform
• Regulation: CFTC, NFA
• Known for its robust trading environment with advanced analytical tools and a wide selection of over 80 currency pairs.

2. OANDA

• Platforms: MT4, TradingView, and fxTrade
• Regulation: CFTC, NFA
• Offers competitive spreads starting from 0.5 pips, strong customer support, and excellent API tools for advanced traders.

3. IG Markets (Tastyfx)

• Platforms: MT4, IG’s proprietary platform
• Regulation: CFTC, NFA
• Provides tight spreads, advanced tools, and extensive educational resources for US traders.

4. FXCM

• Platforms: MT4, Trading Station
• Regulation: CFTC, NFA
• Offers a user-friendly experience, competitive spreads, and a strong emphasis on algorithmic trading.

5. Plus500

• Platforms: Plus500 proprietary platform
• Regulation: CFTC, NFA
• Known for straightforward usability and fixed spreads, catering to beginner and intermediate traders.

CFTC: Commodity Futures Trading Commission

The CFTC is an independent U.S. federal agency established in 1974. Its primary function is to oversee the U.S. derivatives market, encompassing futures, options, and swaps. In foreign exchange trading, the CFTC enforces regulations to safeguard traders, maintain market stability, and mitigate systemic risks within the financial system.

NFA: National Futures Association

The NFA is a self-regulatory organization for the U.S. derivatives industry. It is responsible for ensuring the integrity of forex, futures, and swap markets by licensing brokers and enforcing compliance with rules. The NFA also offers arbitration to help resolve disputes. It operates under the authority of the CFTC.

FAQ

Is there a broker with 0 spreads?

Some of the best forex brokers offer a zero-pip spread for certain currency pairs. However, they typically charge a fixed fee for each trade. It is important to choose a reputable broker that is regulated. The risk of encountering a fraudulent broker is higher among unregulated brokers that offer 0-pip spreads.

Is Forex safe for beginners?

It is recommended for newcomers in forex trading to invest time in learning about the forex market and researching which broker is the best fit for their needs. Look for a forex broker that is regulated in the United States or the United Kingdom because U.S. and U.K. brokers are subject to more stringent oversight. Some forex brokers are registered in countries with less stringent regulatory oversight, which could be problematic for retail investors who are not well-versed in the forex market. It is also advisable to inquire about the available account protections.

What is the cheapest Forex broker?

The cheapest forex brokers offer ultra-low spreads and minimal or no commission fees, catering to cost-conscious traders. IC Markets, for example, offers spreads starting at 0.0 pips with minimal commissions, ideal for scalpers and high-frequency traders using platforms like MetaTrader and cTrader. Similarly, Pepperstone and Forex.com deliver competitive spreads, flexible accounts, and advanced tools for traders of all levels.

These are the best forex brokers that provide transparency and features like fast execution, advanced charting, and algorithmic trading support. Forex.com stands out in the U.S. with its RAW Pricing Account, while FP Markets appeals globally with its low costs and diverse instruments.