For this list, we have searched and tested several forex trading platforms offering services all jurisdictions.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best forex trading platform in each jurisdiction based on our trading data and experience as a trader.

What is Forex Trading?

Foreign exchange or forex trading is basically the process of buying one currency with another. Though usually the exchange is done for facilitating international trade payments or other economic activities, it also becomes popular among traders who profit from simply trading currencies.

The global forex market has a daily estimated volume of more than $6.6 trillion, more than any other financial market. The transactions in the forex market also happen over-the-counter (OTC) using several computer networks, meaning there is no centralized exchange. 

London, New York, Frankfurt, Singapore, Tokyo, Hong Kong, and Sydney are some of the global forex hubs where most forex clearing happens.

Another crucial feature of the forex trading market is that it remains open five and a half days a week: when markets in New York close, Tokyo assumes its business.

What is Retail Forex Trading?

After the penetration of the internet, retail traders have become active in trading forex pairs for profits on a day-to-day basis. But, in a market dominated by large multinational corporations, hedge funds and high net worth individuals, retail trading only constitutes a small part.

Advantages of trading forex as an asset class:

  • Massive market liquidity
  • Trading market availability all-around weekdays
  • Prominent market volatility 

Retail traders usually trade forex derivatives, meaning they never take delivery of their order and the settlement is done in the base account currency.

Retail forex traders earn profits from currency pair trading in two ways:

  • Take profit from the change of exchange rate
  • Profits (or loss) from the interest rates differentials of two currencies

Best Forex Trading Platforms

To select the best forex trading platform in every region, we tested and reviewed several forex brokers. We opened live accounts and depositing real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • Capital.com – Best Forex Trading Platform in the United Kingdom
  • Forex.com – Best Forex Trading Platform in the United States
  • Saxo Markets – Best Forex Trading Platform in the European Union
  • Pepperstone – Best Forex Trading Platform in Australia
  • CMC Markets – Best Forex Trading Platform in the Singapore

Best Forex Trading Platform in the United Kingdom

We have picked Capital.com as the best forex trading platform in the UK.

Capital.com operates in the United Kingdom with a Financial Conduct Authority (FCA) license. The broker was established in 2016 and has excellent offerings when it comes to forex trading.

Capital.com lists a total of 138 currency pairs, along with instruments of other asset classes, and offers trading services on the industry-standard MT4 platform. It does not have any limitations on trading strategies, allowing traders to run both hedging and scalping.

Additionally, the broker does not charge any commission and has some of the lowest spreads in the industry. According to our testing, Capital.com has an average spread of 0.8 pips on the EUR/USD pair, which is half the industry average.

Best Forex Trading Platform in the United States

We have picked Forex.com as the best forex trading platform in the US.

Though the US is a massive market for retail forex trading, only a few brokers operate in the country because of the strict local regulations. Forex.com, which is operated by StoneX-owned Gain Capital, is one of the best platforms for trading forex in the country.

Forex.com offers trading with 91 currency pairs. It offers its services on both MT4 and MT5 platforms, both developed by MetaQuotes Software. The broker does not have any limitations on trading strategies, but US regulators do not allow hedging. It also offers attractive spreads when it comes to trading fees.

Best Forex Trading Platform in the European Union

We have picked Saxo Markets as the best forex trading platform in the EU.

Saxo Markets, which is licensed by European Union regulators, is one of the best retail forex trading platforms in the region. It is also regulated in the UK, Italy, Czech Republic, the Netherlands, Switzerland, France, Denmark, UAE, Japan, Hong Kong, and Australia.

Saxo Markets offers more than 180 currency pairs for trading. It also offers forex options with 44 forex vanilla options with maturities from one day to 12 months, along with 6 FX touch options to only professional traders.

It offers a total of three account types with very attractive spreads on the higher two tiers.

Best Forex Trading Platform in Australia

We have picked Pepperstone as the best forex trading platform in Australia.

When it comes to Australian forex brokers, the name Pepperstone tops the list. Pepperstone is headquartered in Melbourne and is licensed by regulators in Australia, UK, Cyprus, Bahamas, UAE, and Kenya. it is offering forex trading since 2010.

Pepperstone is known for offering the best environment for forex trading by listing 61 currency pairs. It does not limit trading strategies, but traders cannot change the leverage levels (ASIC allows up to 30:1 leverage on major currency pairs). Traders can make deposits and withdrawals in several popular methods, and the broker also has lower than average spreads on forex pairs.

Best Forex Trading Platform in the Singapore

We have picked Saxo Markets as the best forex trading platform in Singapore.

CMC Markets is regulated by the Monetary Authority of Singapore (along with its licenses from several other top global regulators). The broker offers trading services on MT4 and its proprietary Next Generation Platform. It offers some excellent indicators and charting tools to set up trading strategies.

CMC Markets offers forex trading with 339 currency pairs. It offers trading with forex options and lists several forex indices as well. According to our tests, the average spread on the EUR/USD pair on the broker is only 0.7 pips.

Forex Trading Platform List

Apart from the shortlisted brokers, here is a complete list of forex trading platforms, which we have tested and reviewed.

Forex BrokerRegulated in the UKRegulated in the USRegulated in EURegulated in AustraliaRegulated in SingaporeTest DetailsBroker Review
FxProYesNoYesNoNo
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsYesNoYesYesNoDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsNoNoNoNoNoDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
GO MarketsNoNoYesYesNoDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesYesNoNoNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMYesNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMYesNoYesNoNoDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalYesNoYesNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillYesNoYesNoNoDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comYesNoYesNoNoDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBYesNoYesNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)YesNoYesNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneYesNoYesYesNoDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSNoNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXYesNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexYesNoNoNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsNoNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsYesNoNoYesNoDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsNoNoYesYesNoDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalYesNoYesNoNoDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeNoNoYesYesNoDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsYesNoYesYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXYesNoNoYesNoDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXYesNoNoNoNoDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)YesNoNoYesNoDeposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
Plus500YesNoYesYesYesDeposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToroYesYes (FinCENYesYesNoDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 212YesNoYesNoNoDeposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
FortradeYesNoYesYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on Forex Brokers

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to forex trading platforms.

Top Forex Brokers in the UK

Retail forex trading is very popular in the United Kingdom, and the sector is regulated by the Financial Conduct Authority (FCA). Some of the best forex trading platforms in the UK are:

  • CMC Markets
  • FxPro
  • Capital.com
  • Markets.com 

Top Forex Trading Platform in the US

Forex brokers in the USA must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA). Due to strict regulations and high capital requirements, only a few regulated brokers are operating in the country. Some of the US-regulated forex trading platforms are:

Forex.com
TD Ameritrade
OANDA
IG (US)

Top Forex Trading Platform in Dubai

With the launch of the Dubai Financial Services Authority (DFSA) license, foreign forex brokers can open their operations in the Middle Eastern country. DFSA-licensed brokers can provide services across the GCC region. Some of the best forex trading platforms in Dubai, holding the DFSA license are:

  • Pepperstone
  • Swissquote
  • Amana Capital
  • IG Markets

MT4 Forex Trading Platforms

Launched in 2005, MT4 is the most popular platform to trade currency pairs. It has a vast community of traders and tons of expert advisory (EA) are available to run on the platform. Some of the best MT4 forex trading platforms are:

  • Capital.com
  • Markets.com
  • IC Markets
  • Thinkmarkets

High Leverage Forex Trading Platforms

One of the reasons forex trading is popular is due to the availability of high leverages. Due to high risks, many regulators have significantly brought down the maximum leverage cap, but some reputed regulators (FINMA and FMA) still allows high leverage. Some of the well-regulated high leverage forex trading platforms are:

  • Saxo Markets
  • BlackBull Markets
  • Dukascopy
  • Swissquote

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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