Category: Broker Categories

Best Forex Brokers in Cyprus 2025

Post author By George Rossi
Post date July 12, 2021
1 Comment on Best Forex Brokers in Cyprus 2025

To come up with this list, we have tested more than 15 forex brokers Cyprus holding CIF licenses.
We opened a real account and deposited between €4,000 and €6,000 with each broker. 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 had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.
We handpick the best forex brokers based on our trading data and experience as a trader.

Best CySEC Brokers Regulated

Cyprus Securities and Exchange Commission (CySEC) regulates retail forex brokers in Cyprus. It issues the Cyprus Investment Firm (CIF) license to the forex brokers. CySEC-regulated forex brokers can also offer services in the European Economic Area (EEA) by using the passporting rights of their license.

Forex CySEC License Cyprus

CySEC’s official website is www.cysec.gov.cy (available both in English and Greek), and we recommend investors and traders follow the regulator on Twitter, @CySEC_official, for important regulatory updates.

CySEC has a mixed reputation as a forex broker regulator. Despite its entry into regulating retail forex brokers from as early as 2001, the regulator failed to implement strict regulations. Many Cypriot brokers had been flagged by other European regulators for violations of compliances.

Over the past few years, CySEC has turned much more strict and amended many of its regulatory requirements to conform with the EU and MiFID standards. The regulator now started to maintain a warning list and also imposing heavy penalties for compliance violations.

Forex brokers regulated by the CySEC can offer up to 30:1 leverage to retail traders. The regulator also offers a €20,000 compensation scheme and made negative balance protection mandatory.

CySEC-regulated forex brokers cannot offer bonuses to gain traders and push them for more deposits (Check for No Deposit Bonus Forex $200).

Some of the key highlights of trading with CySEC-regulated brokers:

🏦Regulator	Cyprus Securities and Exchange Commission (CySEC)
📊Max. Leverage	30:1
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	Yes
💰Compensation Scheme	Yes (up to €20,000)

Best Forex Brokers in Cyprus

To select the best CySEC-regulated forex brokers, we have tested and reviewed several forex brokers. We opened a live account, deposited real money, and placed real trades with each broker. With our test, we got a picture of the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and customer services.

XM – Best Overall Forex Broker in Cyprus
FBS – Best Forex Broker for Beginners in Cyprus
ICM Capital – Best MT4 Broker in Cyprus
FxPro – Best Forex Trading Platform in Cyprus
Capital.com – Best Forex Broker with Lowest Spread & Trading Fees in Cyprus

Best Overall Forex Broker in Cyprus

We picked XM as the overall best forex broker in Cyprus.

XM is regulated in multiple jurisdictions, including Cyprus. It is a versatile forex broker offering extensive services to retail forex traders. It offers trading with forex and CFDs of stocks, indices, and commodities, with more than 1,300 trading instruments.

Apart from the markets, XM offers impressive indicators and tools for market analysis and provides services on both MT4 and MT5. The broker also has an excellent customer support desk for helping the traders.

Best Forex Broker for Beginners in Cyprus

We picked FBS as the best forex broker for beginners in Cyprus.

FBS is, hands down, one of the best forex brokers for beginners due to the extensive educational material it offers. It provides detailed courses on trading to both beginner and advanced traders and in-depth text and video guides.

FBS conducts webinars to further help traders better understand the industry. Traders can also execute trades on demo accounts without risking real money initially. The broker offers trading with several assets, giving many choices to the traders. Its customer support is also excellent and is available around the clock.

Best MT4 Broker in Cyprus

We picked ICM Capital as the best MT4 broker in Cyprus.

Though most of the Cypriot brokers offer trading services on MT4, ICM Capital is the best MT4 forex broker for many reasons. ICM offers only MT4, meaning all its focus on concentrated on one platform. It provides some excellent indicators and technical analysis tools, all of which are integrated on the MT4 platform.

ICM also offers low-latency bridging on the MT4 platform.

The market offerings of the broker are also good with around 150 instruments of forex and CFDs of indices, stocks, and commodities.

Best Forex Trading Platform in Cyprus

We picked FxPro as the best forex trading platform in Cyprus.

With around 70 currency pairs in the offering, FxPro is the best CySEC-regulated forex trading platform. Our testing of the broker finds that the average spread on the EUR/USD pair is around 1.6, which is in line with the industry average.

FxPro supports trading on MT4, MT5, cTrader, and FxPro EDGE and has no limits on strategies. It also executes the trades with excellent speed.

Lowest Spread & Trading Fee Forex Broker in Cyprus

We picked Capital.com as the best forex broker with the lowest spread and trading fees in Cyprus.

Capital.com is headquartered in London and holds three regulatory licenses, including one in Cyprus. The broker offers extremely attractive spreads on forex pairs. According to our testing, Capital.com offers a 0.8 pips average spread on EUR/USD pair, compared to the industry average of 1.6 pips.

Capital.com does not charge any commission on trades (it only charges spreads) and has no deposit or withdrawal fees as well.

CySEC-Regulated Forex Brokers List & Review

Here is a list of the CySEC-regulated forex brokers which we have tested by opening real accounts, depositing real money, executing trades, and then withdrawing all funds:

Cyprus Forex Broker	CySEC Regulated	About Our Test	Our Review
FBS	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	FBS Review
GO Markets	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	GO Markets Review
Fortrade	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	Fortrade Review
RoboMarkets (RoboForex)	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	RoboMarkets Review
IC Markets	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	IC Markets Review
FXTM	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
Capital.com	Yes	Deposit Amount: Over €3,500 Total Trade: 15 trades	Capital.com Review
FxPro	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	FxPro Review
Pepperstone	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	Pepperstone Review
Amana Capital	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	Amana Capital Review
FxPro	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	FxPro Review
XTB	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
eToro	Yes	Deposit Amount: Over $6,000 Total Trade: 18 trades	eToro Review
Tickmill	Yes	Deposit Amount: Over $8,000 Total Trade: 12 trades	Tickmill Review
Plus500	Yes	Deposit Amount: Over €6,000 Total Trade: 18 trades	Plus500 Review

FAQ & More on Cyprus Brokers

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

How to Verify CySEC-Regulated Brokers?

CySEC maintains an extremely detailed registry of all regulated entities, including forex brokers. It holds information on licensing and any warning or regulatory actions taken against the broker.

To check any regulated forex broker’s information, go to www.cysec.gov.cy and type the broker’s name in the search box. Then the name of the forex broker will appear, and all relevant details about it can be seen by clicking on the name.

The list of all investment firms regulated by Cyprus can be seen here.

IC Markets CySEC (Cyprus Securities and Exchange Commission) License — IC Markets CySEC License

ECN Brokers in Cyprus

ECN brokers offer traders direct market access and do not charge any spreads. They also do not take any position against the traders and make money only from trading fees.

Some ECN forex brokers in Cyprus are:

Pepperstone
IC Markets
FXTM

MT4 Forex Brokers in Cyprus

MT4 is the most popular trading platform for forex trading and most of the Cyprus brokers offer training services on MT4, with or without other trading platforms. MT4 was developed by MeraQuotes Software.

Some of the top CySEC-regulated forex brokers offering trading on MT4 are:

IC Markets
Go Markets
Pepperstone
FxPro
Tickmill

Low Spread Forex Brokers in Cyprus

Spread is the bid and ask difference on the quoted price on any trading instrument. Lower spreads offered by any broker attract more traders as they have to pay less trading fees as spreads.

Some CySEC-regulated low spread forex brokers are:

Go Markets
IC Markets
Capital.com
Pepperstone
XTB

Swap Free Forex Brokers in Cyprus

Swap-free is the option of offering trading services without any fees. These accounts are considered Halal under Islamic Sharia Law as traders are not trading on commission-basis or paying any roll-over charges.

Some of the swap-free forex brokers in Cyprus are:

Go Markets
Fortrade
RoboMarkets (RoboForex)
IC Markets

Tax in Cyprus for Forex Trading

In the country, there is a definite difference between Capital and Income. Capital gains are not seen as just trading profits. There are rather regulated under the Law of Capital Gains, which is 20% in Cyprus. However, capital gains earned from share sales may not be subject to taxation in the country. On the other hand, income tax ranges from 20% to 35%, depending on the amount. The income becomes taxable when it exceeds €19,500 annually.

Traders should always remember that submitting tax forms to the country’s relevant institutions is their responsibility. Thus, they should be very careful if they want to avoid any complications and fines.

Tags forex brokers cyprus

Broker Categories

Best Forex Brokers Canada 2025

Post author By George Rossi
Post date July 6, 2021
No Comments on Best Forex Brokers Canada 2025

To come up with this list, we have tested over 5 forex brokers holding IIROC licenses in Canada.
We opened a real account and deposited around $5,000 with each broker. 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 had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.
We handpick the best forex brokers based on our trading data and experience as a trader.

Canadian IIROC Regulated Forex Brokers

Forex brokers must be registered and authorized with the Investment Industry Regulatory Organization of Canada (IIROC) to operate in Canada. IIROC is a self-regulatory agency and was formed on January 1, 2008, with the merger of the Investment Dealers Association of Canada (IDA) and Market Regulation Services Inc.

IIROC’s official website is www.iiroc.ca, and we recommend investors and traders follow the regulator on Twitter, @IIROCinfo, for important regulatory updates.

IIROC has the authority to fine, suspend or expel members by exercising quasi-judicial powers. Its strict regulatory requirements restrict most brokers from entering the country.

Most of IIROC’s regulations on forex brokers are similar to the neighboring United States’ grip on the industry. IIROC does not offer a compensation scheme or negative balance protection to traders, which can be seen as a downside.

Forex brokers regulated by the IIROC can offer a maximum leverage of up to 50:1.

Some of the key highlights of trading with IIROC regulated brokers:

🏦Regulator	Investment Industry Regulatory Organization of Canada (IIROC)
📊Max. Leverage	50:1
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	No
💰Compensation Scheme	None

Best Canada Forex Brokers

To select the best IIROC-regulated forex brokers, we have tested and reviewed several forex brokers. We opened a live account, deposited real money, and placed real trades with each broker. With our test, we got a picture of the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and customer services.

CMC Markets– Best Overall Forex Broker in Canada
Interactive Brokers – Best Forex Broker for Beginners in Canada
Fortrade – Best MT4 Broker in Canada
Forex.com – Best Forex Trading Platform in Canada
OANDA – Best Forex Broker with Lowest Spread & Trading Fees in Canada

Since 2022, Admiral Markets started its operation in Canada as well.

Best Overall Forex Broker in Canada

We picked CMC Markets as the overall best forex broker in Canada.

CMC Markets is headquartered in London and holds several regulatory licenses, including one from the IIROC in Canada. The broker offers all-round services and is suitable for beginners and expert traders.

It offers trading with a wide range of assets, and trading conditions are also excellent with no limit in trading strategies. The spreads on the broker are also lower than the industry average. It maintained a great reputation and the aspect of being a public company also makes CMC a safe forex broker.

Best Forex Broker for Beginners in Canada

We picked Interactive Brokers as the best forex broker for beginners in Canada.

United States-headquartered Interactive Brokers is one of the largest global brokers and is beginner-friendly. It has one of the best forex trading platforms for beginners. Opening a new account with this broker is easy and fast. It also offers a ton of educational resources to the traders who want to learn about trading further before start trading.

Additionally, the choices of the asset class and investment instrument are also vast. Interactive Brokers also offers good customer service that helps new traders with any issues they face.

Best MT4 Broker Forex Canada

We picked Fortrade as the best MT4 broker in Canada.

While most of the forex trading platforms offer trading on the MT4 platform, we think Fortrade’s offer is the best in Canada. The broker offers MT4 clients on desktop, web, and mobile, making it perfect for all types of traders.

Apart from MT4, Fortrade also offers its proprietary trading platform on the web and mobile.

Best Canadian Trading Platform

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

When it comes to only forex trading, Forex.com stands put in to be the best IIROC-regulated platform. It offers a long list of currency pairs to traders and allows them to run all trading strategies with no limits. It also offers competitive spreads that linger around the industry average.

Lowest Spread & Trading Fees in Canada

We picked OANDA as the best forex broker with the lowest spread and trading fees in Canada.

OANDA offers forex and CFDs trading with some lowest fees. The spreads charged by the broker on major currency pairs are much lower than the industry average and are also consistent. It does not charge any additional commission for opening and closing positions.

IIROC-Regulated Forex Brokers List & Review

Here is a complete list of IIROC-regulated Canadian forex brokers we have tested; since 2022, Admiral Markets operates in Canada too.

Canada Forex Broker	IIROC Regulated	Our Review
CMC Markets	Yes	CMC Markets Review
Interactive Brokers	Yes	Visit Interactive Brokers
Fortrade	Yes	Fortrade Review
Forex.com	Yes	Visit Forex.com
OANDA	Yes	Visit OANDA
Admiral Markets	Yes	Admiral Markets Review

FAQ & More on Canadian Brokers

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

How to Verify an iiroc-Regulated Broker?

The registration details of any IIROC-regulated forex broker can be checked by visiting the regulator’s website.

Go to www.iiroc.ca and search for the forex broker with its name on the regular search box. The registry of the regulator will show all the announcements made related to that particular broker, including details of its registration.

OANDA IIROC (the Investment Industry Regulatory Organization of Canada) Registration — OANDA IIROC Registration

Forex Options Brokers in Canada

Similar to any other options products, forex options give buyers the right, but not an obligation, to purchase the currencies at the expiry of the contract.

Some regulated forex options brokers in Canada are:

Admiral Markets
CMC Markets
Interactive Brokers
AvaTrade

Trade CFD Canada

The brokers can trade CFDs in Canada only if they are registered with the Investment Industry Regulatory Organization of Canada (IIROC). CFDs are investments with high risks, thus traders should check that the broker has a registration status with IIROC and a presence in Canada. trade cfd canada

Among the most popular Canadian CFD brokers are:

CMC Brokers
AvaTrade
Admiral Markets
FOREX.com
Interactive Brokers

MT4 Forex Brokers in Canada

MT4 is the leading trading platform used by forex traders across the world. Despite many limitations, this legacy platform is supported by a large number of market developers with third-party plugins.

Some of the best IIROC-regulated MT4 forex brokers are:

CMC Markets
Admiral Markets
Forex.com
AvaTrade

High Leverage Forex Brokers in Canada

IIROC allows Canadian forex brokers to offer a maximum leverage of up to 50:1. Many forex brokers regulated outside Canada, mostly from offshore jurisdictions, offer high leverage like 500:1. But we highly recommend traders trade only with IIROC-regulated forex brokers.

Tax in Canada for Forex Trading

In Canada, it is important to pay taxes when you make a profit or even when lose in Forex trading. The tax rate depends on the amount of income generated by traders annually.

Canadians have two options of taxation to select from – Section 988 and Section 1256. Those traders who expect to make more gains than losses are advised to choose Section 1256, which is based on the 60/40 rule. However, those traders who often lose, are encouraged to choose Section 988, where the tax rate remains stable both for gains and losses.

Taxation issues are totally the trader’s responsibility. It is up to them to submit the forms to the relevant institution and to follow the dates and rules.

Tags forex brokers canada

Broker Categories

Best Forex Brokers in South Africa 2025

Post author By George Rossi
Post date July 6, 2021
No Comments on Best Forex Brokers in South Africa 2025

To come up with this list, we have tested over 8 forex brokers holding FSCA licenses in South Africa.
We opened a real account and deposited between $4,000 and $8,000 with each broker. 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 had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.
We handpick the best forex brokers based on our trading data and experience as a trader.

FSCA Regulated Forex Brokers in South AFrica

Forex brokers must be registered and authorized with the Financial Sector Conduct Authority (FSCA), formerly known as the Financial Services Board (FSB), to operate in South Africa. FSCA’s official website is www.fsca.co.za, and we recommend investors and traders follow FSCA on Twitter, @FSCA_ZA, for important regulatory updates.

FSCA is a regulator with some strict scrutiny measures, and thus brokers regulated by it are considered safe. It is the only South African regulator overseeing the local forex market.

It mandates brokers to separate company funds and client deposits, and also requires regular audits of the brokers. On the downside, FSCA does not offer a compensation scheme to traders or negative balance protection.

Forex brokers regulated by the FSCA can offer a maximum leverage of 500:1 to retail traders.

Forex Trading South Africa SA

Some of the key highlights of Forex trading with FSCA regulated brokers:

🏦Regulator	Financial Sector Conduct Authority (FSCA)
📊Max. Leverage	500:1
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	No
💰Compensation Scheme	None

Best Forex Brokers in South Africa

To select the best forex brokers in South Africa, we have tested and reviewed over 8 forex brokers. We opened a live account, deposited real money, and placed real trades with each broker. With our test, we got a picture of the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and customer services.

Pepperstone – Best Overall Forex Broker in South Africa
AvaTrade – Best Forex Broker for Beginners in South Africa
Tickmill – Best MT4 Broker in South Africa
FXPro – Best Forex Trading Platform in South Africa
Plus500 – Best Forex Broker with Lowest Spread & Trading Fees in South Africa

Best Overall Forex Broker in South Africa

We picked Pepperstone as the overall best forex broker in South Africa.

Headquartered and listed in Melbourne Australia, Pepperstone offers the best all-around service for forex trading in South Africa. It offers over 1,000 trading instruments across several markets, including forex, stocks, commodities, and cryptocurrencies.

Forex trading on the platform is very good, it also allows scalping and hedging. Pepperstone offers a variety of platforms, including industry-standard platforms MT4 and MT5, cTrader, and TradingView platform. It charges lower than average forex spreads with only 1.2 pips on EUR/USD pair, based on our tests.

Moreover, Pepperstone offers many options for fund deposits and withdrawals and has excellent customer support, as well as high-quality educational resources that suit traders of all expertise.

Best Forex Broker for Beginners in South Africa

We picked AvaTrade as the best forex broker for beginners in South Africa.

AvaTrade offers excellent educational resources, which are a must to attract beginner traders. It provides detailed guides and videos on both forex trading techniques and platforms. Additionally, the broker organizes webinars with industry experts to guide beginner traders.

Apart from the educational resources, AvaTrade offers trading on both MT4 and MT5 platforms that are termed as industry-standard. It also simplifies trading with its proprietary mobile trading platform. Its offerings also range from forex to CFDs of indices, commodities, stocks, and cryptocurrencies.

Best MT4 Broker in South Africa

We picked Tickmill as the best MT4 broker in South Africa.

TickMill is a well-known brokerage and holds regulatory licenses in multiple jurisdictions. Despite its vast offerings and reach, it offers trading services only on the MT4 platform.

Tickmill’s focus on only one trading platform makes it the preferred for the traders who want to trade on the MT4 platform. It integrated a ton of indicators and charting tools on the platform which makes trading easier for both beginner and expert traders.

Best Forex Trading Platform in South Africa

We picked FXPro as the best forex trading platform in South Africa.

When it comes to only forex trading, FXPro stands put in to be the best FSCA-regulated platform. It offers a long list of currency pairs to traders and allows them to run all trading strategies with no limits.

FXPro also offers trading services on MT4, MT5, cTrader, and FxPro EDGE, meaning traders have a lot of options to choose the desired trading platform.

It also offers competitive spreads that linger around the industry average. The average spread for our EUR/USD pair was 1.6 pips. It also supports deposits and withdrawals with several widely used methods and has minimum non-trading fees.

Lowest Spread & Trading Fees in South Africa

We picked Plus500 as the best forex broker with the lowest spread and trading fees in South Africa.

Based on our tests, Plus500 is a regulated forex broker in South Africa that offers lower than average spreads on currency pairs. Our testing of the broker finds that the average spread for EUR/USD pair is 0.8 pips, which is almost half of the industry average of 1.6 pips.

Additionally, Plus500 does not charge any extra trading fees for opening and closing positions.

FSCA-Regulated Forex Brokers List & Review

Besides our best 5 picks above, we also put together a complete list of South Africa forex brokers we have tested along with our reviews.

South Africa Forex Broker	FSCA Regulated	About Our Test	Our Review
FXTM	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
Plus500	Yes	Deposit Amount: Over €6,000 Total Trade: 18 trades	Plus500 Review
FxPro	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	FxPro Review
AvaTrade	Yes	Deposit Amount: Over €4,000 Total Trade: 21 trades	AvaTrade Review
ThinkMarkets	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	ThinkMarkets Review
INFINOX	Yes	Deposit Amount: Over €4,000 Total Trade: 9 trades	INFINOX Review
Tickmill	Yes	Deposit Amount: Over €8,000 Total Trade: 12 trades	Tickmill Review
IG	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	IG Review

FAQ & More on South Africa Brokers

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

How to Verify an FSCA-Regulated Broker?

The registration details of any FSCA-regulated forex broker can be checked on the online registry of the regulator.

Go to www.fsca.co.za/Fais/Search_FSP.htm and search for the forex broker using either the license number or the name. The registry will show all license-related details of the forex broker, even if the license has lapsed.

Tickmill's FSCA (the Financial Sector Conduct Authority) Registration — Tickmill’s FSCA Registration

Best No Deposit Brokers South Africa

No deposit bonuses are offered before traders make their first deposit with the forex broker. These no deposit bonuses are often limited only to new traders and come with a string of terms and conditions.

No deposit bonuses are like free money handed out to the trades but it is a lucrative marketing technique to attract both new and experienced traders to the forex broker platform. We highly recommend traders check the licenses of such brokers offering no deposit bonuses. Read more on forex brokers in Nigeria.

Some FSCA-licensed South African brokers offering no deposit and deposit bonuses are:

Tickmill
AvaTrade
Plus500
FXTM

ECN Forex Brokers in SA

ECN account brokers offer traders direct market access and do not take any positions against the traders. These brokers offer raw market spreads with zero or tight spreads and usually charge a commission as trading fees.

Some of the best ECN forex brokers are:

Pepperstone
FXTM
AxiTrader
Admiral Markets

MT4 Forex Brokers in SA

Some of the best FSCA-regulated MT4 forex brokers are:

Tickmill
FXTM
FXPro
AvaTrade

High Leverage Forex Brokers in SA

South African FSCA-regulated forex brokers are allowed to offer a maximum leverage of 500:1 to traders, which is quite high based on the industry standards.

Some of the high-leverage forex brokers in South Africa are:

FxPro
ThinkMarkets
FXTM

Forex Brokers for Beginners in SA

With an influx of new retail traders, forex brokers are getting focused on making their platforms beginner-friendly. They are offering better educational resources, and also simplifying the trading process has become a norm.

Some of the best forex brokers for beginners in South Africa that have top forex trading platforms are:

IG
Tickmill
AvaTrade

Forex Brokers with ZAR Accounts in SA

Trading with local fiat currency is always a priority for traders and, for South Africa, its ZAR. Some of the South African forex brokers with ZAR accounts are:

Plus500
FxPro

Tax in South Afica for Forex Trading

Forex trading in South Africa is surely taxable. In the country, all the residents are required to pay taxes, irrespective of the source of income. All the traders are required to file tax forms to the respective institution annually.

Traders should remember that it is their responsibility to pay taxes. In case of delay or tax avoidance, South African traders may face dire consequences and be obliged to pay penalties and fines.

Tags forex brokers south africa

Broker Categories

Best Forex Brokers India 2025

Post author By George Rossi
Post date July 2, 2021
1 Comment on Best Forex Brokers India 2025

For this article, we reviewed and tested 5 forex brokers India accepting Indian clients. The Securities and Exchange Board of India (SEBI) is tasked with regulating Forex brokers operating in India.
However, brokers are not mandated to receive a license from the regulator.
We opened a real account with each broker and deposited between $4000-$8000. Then, we placed live trades in the popular instruments to determine the actual spreads.
We also contacted the customer support team of each broker to resolve the issues we encountered. Finally, we withdrew our funds to assess whether the withdrawal process is smooth.
We handpicked the best forex brokers based on the trading data collected and our experience as traders.

SEBI-Licensed Forex Brokers in India

Forex brokers in India are authorized and regulated by the Securities and Exchange Board of India (SEBI). SEBI’s website is www.sebi.gov.in. We suggest investors and traders follow the regulator on Twitter, @SEBI_India, to get the latest news and updates.

SEBI-licensed Forex brokers India are safe to trade with since the Indian regulator is well-respected. However, traders should keep in mind that being licensed by SEBI is recommended but is not mandatory.

SEBI has not maximum leverage cap for brokers, with some brokers offering up to 400:1 leverage of Forex trades. The downside is that there is no deposit compensation scheme if a broker goes bankrupt. Read our article about no deposit bonus forex India.

Some of the key highlights of trading with SEBI-regulated brokers:

🏦India Regulator	Securities and Exchange Board of India (SEBI)
📊Max. Leverage	No Max. Leverage
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	No Negative Balance Protection
💰Compensation Scheme	No Compensation Scheme

Best Forex Trading Brokers in India

We tested and reviewed 5 forex brokers serving Indian Forex traders by opening live accounts, depositing real money, and placing real trades to identify the best forex brokers. We wanted to accurately assess the actual spreads, commissions, trading platforms, deposit and withdrawal conditions, trader education, and customer service provided by each broker.

XM Group – Best Overall Forex Broker in India
AvaTrade – Best Forex Trading Platform India
FP Markets – Best MT4 Broker India
IG – Best Forex Broker for Beginners in India
Interactive Brokers – Most trusted broker in India

Of the five brokers above, only Interactive Brokers is licensed by SEBI.

Best Overall Forex Broker in India

We picked XM Group as the overall best forex broker in India. XM offers a comprehensive trading package with the added benefit of being pretty accessible due to its low minimum deposit requirement. The account opening process is smooth, and the broker offers multiple deposit and withdrawal methods naming the process smooth. XM Spreads are competitive at 1.15 on EUR/USD, and there are no limits on trading strategies. Additionally, the broker provides great education and trading tools, including video tutorials, webinars, Autochartist and more.

Best Forex Broker for Beginners in India

The best Forex broker for beginners is IG due to its in-depth educational materials offered to Forex traders in India in multiple formats. New traders can learn about the markets and trading via educational videos, articles, live webinars, and market analyses.

IG also offers a demo account that traders can test their strategies before deciding to open a live account and risk their hard-earned cash.

MT4 Top Forex Broker India

The best MT4 broker in India is FP Markets, an MT4 broker that offers the popular MetaTrader 4 platform and does not have a proprietary trading platform.

The broker provides both the web version of the MetaTrader 4 and the desktop and mobile applications, which are easily accessible to traders.

Indian Forex Brokers List & Review

Below are the details of the tests we conducted on each broker in our review.

Trusted Forex Broker in india

Forex Broker	SEBI Regulated	About Our Test	Our Review
XM Group	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Group Review
AvaTrade	Yes	Deposit Amount: Over €4,000 Total Trade: 12 trades	AvaTrade Review
FP Markets	Yes	Deposit Amount: Over €6,000 Total Trades: 12	FP Markets Review
IG	Yes	Deposit Amount: Over €4,000 Total Trades: 12	IG Review
Interactive Brokers	Yes	Deposit Amount: Over v Total Trades: 12	Interactive Brokers Review

FAQ & more on Indian brokers

Traders usually have many questions related to trading queries. We tried to pick and answer some of the most important queries related to Forex Brokers India.

Best Forex Trading Platform in India

We picked AvaTrade as the best forex trading platform in India.

It offers trading services on two popular MetaTrader platforms, which are easily accessible for traders. AvaTrade’s own web trading platform and its mobile trading platform are also very clean and easy to use for the traders.

The platforms available to the traders are:

MetaTrader 4
MetaTrader 5
WebTrader (AvaTrade’s proprietary web-based platform)
AvaOptions (for forex vanilla options)
AvaTradeGo (for mobile trading)

Low spread forex broker in India

IG is the lowest spread forex broker available among Forex Brokers India, but traders should watch out for variations in the spreads, especially during periods of heightened market volatility.

Tax in India for Forex Trading

Many Indian forex traders wonder whether their trading profits are subject to taxation. Actually, Forex trading is taxable in India. It is normally regarded as a common income generated from the business. The tax rate is approximately 15%.

Moreover, if for any reason Indian forex traders try to avoid taxes, this will result in dire consequences – from fines and penalties to imprisonment. Thus, traders should be responsible for filing their tax forms to the relevant institution and try to be legal in their activities.

Broker Categories

Best Forex Brokers Nigeria 2025

Post author By George Rossi
Post date July 2, 2021
No Comments on Best Forex Brokers Nigeria 2025

In this article, we reviewed and tested multiple forex brokers serving traders based in Nigeria. The Central Bank of Nigeria (CBN) is the sole authority tasked with regulating online trading but is yet to start issuing licenses to Fores brokers.
Therefore, we compiled a list of reputable brokers licensed by tier 1 and 2 regulators globally that serve Nigerian traders.
We opened a real account and deposited between $4000-$8000 with each broker. Then, we placed live trades of the most popular assets to determine the actual spreads.
We also reached out to every broker’s customer support team to resolve any issues we encountered. Finally, we withdrew our funds to assess whether the withdrawal process was smooth.
We handpicked the best forex brokers based on the trading data collected and our experience as traders.

CBN Regulated Forex Brokers in Nigeria

Forex brokers in Nigeria are authorized by the Central Bank of Nigeria (CBN) to operate in Nigeria. The CBN’s website is www.cbn.gov.ng. We suggest investors and traders follow the CBN on Twitter, @cenbank, to get the latest news and updates.

Since the Central Bank of Nigeria (CBN) is yet to start licensing Forex brokers, we have listed five brokers regulated by top-tier regulators, such as the UK’s FCA, who accept Nigerian traders.

These are reputable brokers who adhere to the stringent rules set by tier 1 and 2 regulators. In addition, many of them offer customer deposit compensation schemes if the broker goes bankrupt.

We shall promptly update this list once the CBN starts issuing licenses to Forex brokers as the Nigerian Forex trading industry matures.

Some of the key highlights of trading with CBN regulated brokers:

🏦Nigeria Regulator	Central Bank of Nigeria (CBN)
📊Max. Leverage	N/A
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	N/A
💰Compensation Scheme	No Compensation Scheme

Best Forex Brokers in Nigeria

We tested and reviewed 5 forex brokers operating in Nigeria by opening live accounts, depositing real money, and placing actual trades to select the best forex brokers.

We wanted to accurately determine the actual spreads and commissions, the trading platform, deposit and withdrawal conditions, trader education, and customer service.

Pepperstone – Best Overall Forex Broker in Nigeria
FXTM – Best Forex Trading Platform Nigeria
IC Markets – Best Forex Broker for Beginners in Nigeria
XM Forex – Best MT4 Broker Nigeria
HotForex – Lowest Spread & Trading Fees in Nigeria

Best Overall Forex Broker in Nigeria

We picked Pepperstone as the best overall forex broker in Nigeria. Pepperstone offers the full package for a good broker. Opening an account is smooth. The broker offers 9 deposit & withdrawal methods. The spread is competitive at 1.15 on EUR/USD along with zero limits on trading strategies.

Furthermore, the broker provides great educational and trading tools, including video tutorials, webinars, Autochartist and more. The broker recently added social trading platforms (Myfxbook and DupliTrade).

Best Forex Broker for Beginners in Nigeria

The best Forex broker for beginners in Nigeria is IC Markets, which has in-depth and well-structured educational content. The broker also holds frequent webinars that educate beginner traders on various aspects of trading.

Traders can learn about fundamental and technical analysis, including how to apply the same to their trading. The broker has invested heavily in its education program to give its clients a headstart when trading the markets.

Traders can learn via various formats, including high quality pre-recorded videos, written texts and live webinars.

Best MT4 Broker Nigeria

The best MT4 broker in Nigeria is XM, which offers the MT4 and MT5 trading platforms. The broker does not have its own proprietary trading platform, but offers the MT4 & MT5 platforms from Meta Quotes.

XM offers both the web version of the MT4 platform and the mobile and desktop version of the popular trading app to Nigerian traders.

Nigerian Forex Brokers List & Review

Here are other important details about the tests we conducted on the five Nigerian Forex brokers discussed above:

Forex Broker	CBN Regulated	About Our Test	Our Review
Pepperstone	No	Deposit Amount: Over €6,000 Total Trade: 12 trades	Pepperstone Review
FXTM	No	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
IC Markets	No	Deposit Amount: Over €5,000 Total Trades: 12	IC Markets Review
XM	No	Deposit Amount: Over €5,000 Total Trades: 12	XM Review
HotForex	No	Deposit Amount: Over Total Trades:	HotForex Review

FAQ & more on Nigerian brokers

Traders usually have numerous questions related to trading, for trading-related queries we pick and answered some of the most important questions related to Nigeria regulated brokers.

No Deposit Bonus Forex Brokers

Forex traders based in Nigeria can start trading Forex without having to deposit any of their money as some brokers offer no deposit bonuses.

Brokers that offer no deposit bonuses include XM, which offers a $30 no deposit bonus. Other brokers, such as FBS, offer a higher no deposit bonus at $100, but XM is our trusted choice given how long the programme has been running.

While the no deposit bonus is an easy way to start trading, you should know that most brokers have many rules regarding such bonuses, and you might have to trade a certain number of lots before you can withdraw your winnings.

Forex Brokers With Offices in Nigeria

Given that many of the brokers reviewed are headquartered and licensed in overseas countries, it was a relief to find that one of them has a local office in Nigeria.

HotForex and FXTM have actual offices in Lagos, Nigeria, that provides local support to Nigerian traders. In our experience, having a local support team typically improves the quality of customer service offered to clients.

The broker’s Nigerian clients are likely to be served by someone who understands the local culture and their needs on a deeper level.

Best Forex Brokers for Beginners

While our recommended broker for beginner traders is IC Markets there are other brokers that offer excellent training resources for beginners.

One such broker is XM, which has a detailed educational offering that equips beginner traders with most of the skills needed to trade the markets.

Pepperstone also has an excellent suite of educational materials for all levels of traders.

Swap-Free Forex Brokers in Nigeria

FXTM and Pepperstone are the two brokers that offer swap-free (Islamic) Forex trading accounts in Nigeria.

Tax in Nigeria for Forex Trading

Many Nigerian forex traders assume that they are not obliged to pay taxes for forex trading in Nigeria. However, this is just a misperception. In reality, forex trading gains are seen as capital gains in Nigeria. The taxation rate for Capital gains is usually 10%. All Nigerian residents should pay taxes for forex trading even if the profits are from an outside source.

Forex traders in Nigeria are responsible for filing tax forms to the Federal Inland Revenue Service. In case, they fail to pay taxes they may face penalties.

Broker Categories

Best Forex Brokers USA 2025

Post author By George Rossi
Post date July 2, 2021
No Comments on Best Forex Brokers USA 2025

To come up with this list, we have tested several forex brokers USA holding registered with the CFTC and the NFA in the United States.
We opened a real account and made deposits with each broker. 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 had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.
We handpick the best forex brokers based on our trading data and experience as a trader.

US Regulated Forex CFTC Brokers

All regulated forex brokers must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA) to legally operate in the United States. The NFA is a self-regulating agency supervising all forex trading activities in the US and is overseen by the CFTC.

CFTC’s official website is www.cftc.gov, and we recommend investors and traders follow FCA on Twitter, @CFTC, for important regulatory updates. For NFA, please visit www.nfa.futures.org and follow @NFA_News.

The CFTC is deemed one of the top financial markets regulators due to its strict requirements. The agency was established in 1975 and oversees a wider commodities and derivatives market in the United States. Its regulatory power over the swaps market was extended in 2010 by the so-called Dodd-Frank Act, which required the agency to impose various new guidelines on the brokerages.

Though the CFTC does not offer any compensation scheme for the traders, the agency requires brokers to maintain a $20 million security deposit, which is significantly higher than any other global regulator. The agency is very vigilant and actively monitors and busts any operator offering illegal services in the country.

Forex brokers in the United States can offer a maximum leverage of the 50:1.

Some of the limitations of CFTC-regulated forex brokers are:

No negative balance protection
Hedging is not allowed
The mandatory FIFO rule that forces traders to liquidate the oldest multiple open positions on a single currency pair while closing the trades

Some of the key highlights of trading with regulated US brokers:

🏦Regulator	Commodity Futures Trading Commission (CFTC), National Futures Association (NFA)
📊Max. Leverage	50:1
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	No
💰Compensation Scheme	None

Best Forex Broker in USA

To select the best United States forex brokers, we have tested and reviewed almost all forex brokers operating in the country. We opened a live account, deposited real money, and placed real trades with each broker. With our test, we got a picture of the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and customer services.

IG (US) – Best Overall Forex Broker in the US
Interactive Brokers – Best Forex Broker for Beginners in the US
OANDA – Best MT4 Broker in the US
Forex.com– Best Forex Trading Platform in the US
TD Ameritrade – Best Forex Broker with Lowest Spread & Trading Fees in the US

Other forex brokers legally operating in the USA are:

NADEX
ATC Brokers
Ally Invest

Best Overall Forex Broker in US

We picked IG as the overall best forex broker in the USA.

IG is a London-headquartered broker and holds multiple regulatory licenses, including in the United States. It is a publicly listed broker that makes its business transparent and very safe.

It is one of the best trading platforms offering trading services with forex, indices, stocks, commodities, and cryptocurrencies. It offers some of the lowest spreads for forex pairs in the industry. The platform is also easy to use and offers a ton of market research and analysis tools.

Best Forex Broker for Beginners in US

We picked Interactive Brokers as the best broker for beginners in the USA.

Interactive Brokers is one of the largest and well-reputed US brokers. Though most of the US brokerages offer good educational material to new traders, Interactive Brokers’ resources stand out. It offers detailed guides on markets and trading techniques. Traders can also learn from well-explained videos.

It conducts webinars for forex traders. The broker also offers in-depth market commentary and analysis by dozens of professionals. Apart from the beginner-oriented educational resources, Interactive Brokers offers trading services with a wide range of products.

Best MT4 Broker in US

We picked OANDA as the best MT4 broker in the USA.

MT4 is the leading trading platform used for forex trading. Though many brokers offer trading with MT4, we have found OANDA’s offering to be the best. OANDA offers trading services on MT4 clients on desktop, web, and mobile.

As MT4 is the only trading platform offered by OANDA, the broker offers several trading tools on it. Traders can even upgrade their platform to MT4 premium to access additional tools and widgets.

Best Forex Trading Platform in US

We picked Forex.com as the best currency trading platform in the USA.

Forex.com, a brand operated by StoneX-owned Gain Capital, offers excellent trading services when it comes only to forex. It offers trading with 91 forex pairs and has operations globally.

It also provides traders with a range of trading platform choices, including MT4, MT5, and its proprietary platform. It has some excellent indicators and charting tools and offers a social sentiment on currency pairs, which is a unique signal for forex trading. Additionally, forex spreads charged by the broker are also on the lower side of the industry average.

Lowest Spread & Trading Fees Forex Broker in US

We picked TD Ameritrade as the best forex broker with the lowest spread and trading fees in the USA.

TD Ameritrade was established in 1955 and is one of the United States’ oldest brokerages. It offers forex trading via its platform thinkorswim. It lists 73 forex pairs, and average EUR/USD spreads range from 1.065 pips: the average industry spread for the pair is around 1.6 pips. Apart from spreads, the platform does not charge any commission.

US Forex Brokers List & Review

Here is a list of all the US brokerages offering forex trading services.

Best Regulated Forex Brokers for US Clients

US Forex Broker	CFTC Regulated	Visit platform
IG (US)	Yes	Visit IG (US)
Interactive Brokers	Yes	Visit Interactive Brokers
OANDA	Yes	Visit OANDA
Forex.com	Yes	Visit Forex.com
TD Ameritrade	Yes	Visit TD Ameritrade
NADEX	Yes	Visit NADEX
ATC Brokers	Yes	Visit ATC Brokers
Ally Invest	Yes	Visit Ally Invest

FAQ & More on the US Brokers

Traders usually have many questions related to trading queries. We tried to pick and answer some of the most important queries related to CFTC regulated Forex Brokers USA.

How to Verify a Regulated US Broker?

There are several databases about the financial market players managed by agencies in the United States. Two of the popular such databases (which are not managed by CFTC) are:

MSB Registration Search (for federal listing)
Nationwide Multi-state Licensing System (for state listing)

CFTC manages the RED List database, which is mostly compiled by consumer tips.

But the most useful database remains NFA’s BASIC database, which is the acronym for Background Status Affiliation Information Center. You can check if an entity or individual has been screened and holds the membership of the association.

ECN Forex Brokers in US

ECN brokers offer traders direct market access and do not take any positions against the traders. These brokers offer raw market spreads with zero or tight spreads and usually charge a commission as trading fees.

Some of the real ECN forex brokers in the United States are:

Forex.com
Interactive Brokers
ATC Brokers

MT4 Forex Brokers in US

MT4 has become an industry-standard trading platform and most of the US brokers offer trading services on MT4.

Some of the best forex brokers with MT4 platform in the US are:

IG (US)
Forex.com
OANDA
ATC Brokers

US PayPal Forex Brokers

As traders want fast and easy deposit methods, brokers are in a rush to integrate popular payment modes. PayPal is one of the most sought payment methods sought by traders as deposits can be made almost instantly.

Some of the US forex brokers taking deposits via PayPal are:

IG (US)
OANDA

Best US Forex Brokers for Beginners

Recently forex brokers are seeing an influx of new retail traders which pushed them to make their platform beginner-friendly. Brookers are adding more educational resources and making the trading platforms easy to understand to lure beginner traders.

Some of the best forex brokers in the US for beginners are:

IG (US)
Interactive Brokers
TD Ameritrade

US Friendly Forex Brokers

In spite of the strict regulatory conditions, there are still US friendly forex brokers that accept US clients to operate their trades. Here is the list of the brokers that offer the best conditions to the US residents:

IG
Forex.com
TD Ameritrade
OANDA
ATC Brokers

Thus, traders can choose between US friendly forex brokers according to their trading expectations.

Offshore Forex Brokers Accepting US Clients

Several forex brokers holding licenses from off-shore jurisdictions are offering services to United States clients. We highly recommend traders not to open accounts with such brokers as they are operating illegally in the US and might face regulatory actions anytime.

Tax in the USA for Forex Trading

Forex trading in the USA is taxable. Traders in the United States have two options for how they want their trading earnings taxed. They can either file them under Section 988, under an individual’s tax bracket, ranging from 0% to 37%. Section 1258, on the other hand, offers an interesting option for taxation. In this case, 60% of the income will be taxed at a 15% rate. The remaining income will be taxed as ordinary earnings.

US traders should be careful and responsible for submitting tax forms to the relevant institution of the country. In case of tax avoidance or carelessness, traders will be faced with complications and possible fines for tax avoidance.

Tags forex brokers us

Broker Categories

Best Forex Brokers in UK 2025

Post author By George Rossi
Post date June 24, 2021
No Comments on Best Forex Brokers in UK 2025

To come up with this list, we have tested over 19 forex brokers holding FCA licenses in the United Kingdom.
We opened a real account and deposited between $4,000 and $6,000 with each broker. 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 had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.
We handpick the best forex brokers based on our trading data and experience as a trader.

United Kingdom’s FCA Regulated Forex Brokers

Forex brokers must be registered and authorized by the Financial Conduct Authority (FCA) to operate in the United Kingdom. FCA’s official website is www.fca.org.uk, and we recommend investors and traders follow FCA on Twitter, @TheFCA, for important regulatory updates.

FCA is a reputed regulator with strict scrutiny measures, and thus brokers regulated by it are considered safe. It is very vigilant in the industry and actively warns non-compliant traders, and even fines and suspends the licenses for many violators.

FCA also offers a compensation scheme of £85,000 that protects investors’ deposits in case the broker goes bankrupt. FCA offers maximum leverage of 30:1 to retail traders, and also negative balance protection is mandatory.

Some of the key highlights of trading with FCA regulated brokers:

🏦Regulator	Financial Conduct Authority (FCA)
📊Max. Leverage	30:1
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	Yes
💰Compensation Scheme	£85,000

Best Forex Brokers in UK

To select the best FCA-regulated forex brokers, we have tested and reviewed over 20 forex brokers. We opened a live account, deposited real money, and placed real trades with each broker. With our test, we got a picture of the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and customer services.

ActivTrades – Best Overall Forex Broker in the UK
XM – Best Forex Broker for Beginners in the UK
Capital.com – Best MT4 Broker in the UK
FXPro – Best Forex Trading Platform in the UK
CMC Markets – Best Forex Broker with Lowest Spread & Trading Fees in the UK

Overall Top Forex Broker UK

We picked ActivTrades as the overall best forex broker in the UK.

Founded in 2001, ActivTrades is a global forex and CFD broker regulated by FCA. It offers trading with a wide array of assets like forex, commodities, shares, cryptocurrencies, indices, and financials; the broker also provides unlimited trading strategies to its clients.

From our test, ActivTrades’s average EUR/USD spreads are 0.57 pips which is much lower than the average industry benchmark (1.16 pips). The average spread on Apple CFDs was 1.17 pips, compared to the industry average of 1.5 pips.

Additionally, ActivTrades has the benefit of platform choice by giving access to its services through MT4, MT5, and its proprietary platform. It also has comprehensive educational resources making it suitable for both beginners and experts.

Best Forex Broker for Beginners in the UK

We picked XM as the best forex broker for beginners in the UK.

XM is an FCA-regulated broker with a well-maintained reputation. The broker offers excellent educational resources, from forex guides to platform tutorials. It also offers forex webinars and seminars, which are very helpful for beginner traders.

The broker offers a good analysis of the markets as well and also provides in-house research, trading ideas, technical summaries, and much more.

Coming to trading, XM offers to trade on MT4 and MT5, two industry-standard trading platforms. It has a good range of products with no limits in trading conditions.

XM also has an excellent customer support team and they are helpful in answering queries of beginner traders.

Best MT4 Broker in the UK

We picked Capital.com as the best MT4 broker in the UK.

MT4 is the leading trading platform used for forex and CFDs trading. Though many brokers offer to trade with MT4, we have found Capital.com offering to be the best. Capital.com offers MT4 clients on desktop, web, and mobile.

Apart from MT4, Capital.com also offers trading with its proprietary trading platform, which is only available for web and mobile. As MT4 is one of the primary platforms of the broker, it will push most of the support and updates for this platform.

Capital.com offers trading services with a wide range of assets and also allows traders to run all types of strategies. With all the features and trading support, Capital.com is the no-doubt the best MT4 broker in the United Kingdom.

What is the Best Forex Trading Platform UK

We picked FXPro as the best forex trading platform in the UK.

When it comes to only forex trading, FXPro stands out in to be the best FCA-regulated platform. It offers a long list of currency pairs to traders and allows them to run all trading strategies with no limits.

FXPro also offers trading services on MT4, MT5, cTrader, and FxPro EDGE, meaning traders have a lot of options to choose the desired trading platform.

Lowest Spread & Trading Fee Forex Broker in the UK

We picked CMC Markets as the best forex broker with the lowest spread and trading fees in the UK.

The average EUR/USD spread on CMC Markets is only 0.7 pips, which is very competitive in the industry. The broker also allows deposits and withdrawals with all major channels and does not charge any commission-based fees for these services.

Headquartered in London, CMC Markets is a publicly-listed broker, making it a very safe brokerage platform. It offers trading with a wide range of assets, and trading conditions are also excellent with no limit on trading strategies.

Additionally, CMC Markets is a Top UK Forex Broker with good quality educational resources, with many impressive market research tools. It also has an excellent customer support team, making it the best overall FCA-regulated forex broker in the United Kingdom.

FCA-Regulated Forex Brokers List & Review

Besides our best 5 picks above, we also put together a complete list of 20 UK forex brokers along with our review.

UK Forex Broker	FCA Regulated	About Our Test	Our Review
eToro	Yes	Deposit Amount: Over $6,000 Total Trade: 18 trades	eToro Review
Plus500	Yes	Deposit Amount: Over €6,000 Total Trade: 18 trades	Plus500 Review
AXI (AxiTrader)	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	AXI Review
XM	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review
Admiral Markets	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
Pepperstone	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	Pepperstone Review
Markets.com	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	Markets.com Review
Vantage FX	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
ThinkMarkets	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	ThinkMarkets Review
GO Markets	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	GO Markets Review
Fortrade	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	Fortrade Review
ICM Capital	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	ICM Capital Review
INFINOX	Yes	Deposit Amount: Over €4,000 Total Trade: 9 trades	INFINOX Review
Capital.com	Yes	Deposit Amount: Over €3,500 Total Trade: 15 trades	Capital.com Review
Darwinex	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	Darwinex Review
Amana Capital	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	Amana Capital Review
XTB	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
FXTM	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
Tickmill	Yes	Deposit Amount: Over €8,000 Total Trade: 12 trades	Tickmill Review
Trading 212	Yes	Deposit Amount: Over €5,500 Total Trade: 15 trades	Trading 212 Review

FAQ & More on the UK Brokers

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

How to Verify an FCA-Regulated Broker?

The registration details of any FCA-regulated can be checked on the online registry of the regulator.

Go to https://register.fca.org.uk/s/ and type the name or reference number of the broker on the search box and the register will show the licensing details of the broker. If the broker is not licensed by the FCA, you will not see any broker listed by that name.

FCA (Financial Conduct Authority) Register — FCA Register

Compare UK Forex Brokers

All UK forex brokers can be compared using the standard trading metrics like regulatory license, products offered, spreads and fees, deposit and withdrawal options, and a few other parameters.

We have tested several FCA-regulated brokers based on these parameters and concluded that CMC Markets is the best overall forex broker in the United Kingdom.

ECN Forex Brokers in UK

Pepperstone is one of the FCA-regulated brokers that offer ECN accounts to traders.

Some of the best FCA-regulated ECN forex brokers are:

Pepperstone
FXTM
AxiTrader
Admiral Markets

MT4 Forex Brokers in UK

MT4 has become an industry-standard trading platform and most of the FCA-regulated brokers, including the five best brokers on our list, offer trading services on MT4.

Some of the best FCA-regulated MT4 forex brokers are:

ActivTrades
Tickmill
FXTM
XM
FXPro

High Leverage Forex Brokers in UK

The FCA follows the ESMA’s guidelines and limits the maximum leverage offered to retail traders to 30:1. However, only qualified professional traders can receive maximum leverage of up to 500:1.

Lowest Spread Forex Broker in UK

As there are many brokers operating in the market, offering competitive spreads has become a norm. Many market makers now offer tight spreads and do not even charge additional commissions.

All the top brokers shortlisted by us offer low spreads, but brokers like ActivTrades, Capital.com, and CMC Markets stand out by offering some lowest forex spreads in the industry.

Some of the lowest spread FCA-regulated forex brokers are:

ActivTrades
Capital.com
Darwinex
CMC Markets
Markets.com

Forex Brokers with Micro/Cent Accounts in UK

Micro/Cent account generally means the brokers calculate the trading account balance instead of dollars. These type of accounts enables traders to trade in small lots without needing massive capital investments.

Though most of the brokers do not promote themselves as micro/cent account brokers, they usually offer such services for standard retail clients. However, some brokers specifically offer micro/cent trading accounts.

Swap Free Forex Brokers in UK

Many forex brokers are offering such swap-free accounts to attract Muslim traders who hesitate to trade with the standard accounts offered by the brokers.

Some of the FCA-regulated brokers offering swap-free accounts are:

ActivTrades
ICM Capital
INFINOX
Fortrade
Amana Capital
ThinkMarkets

Tax in the Uk for Forex Trading

In the UK annual gains of up to £12,300 for forex trading are considered tax-free. However, when the gains are over the mentioned amount, a tax of 10% to 20% applies to them. The good news about the UK taxes is that the income from spread betting platforms is free of taxes. This is due to the fact that in the country’s tax code spread betting is equalled to sports, horse racing, and betting.

When it comes to taxes, traders should be very careful and bear in mind that they are responsible for submitting a tax form to the relevant institution in the country.

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Broker Categories

Best Forex Brokers Kenya 2025

Post author By George Rossi
Post date June 17, 2021
No Comments on Best Forex Brokers Kenya 2025

In this article, we reviewed and tested 4 forex brokers Kenya licensed by Capital Markets Authority (CMA).
We opened a real account and deposited between $4000-$8000 with each broker. We placed live trades in the popular markets to determine the actual spreads.
We also reached out to each broker’s customer support team to resolve the issues we encountered. Finally, we withdrew our funds to assess whether the withdrawal process is smooth.
We handpicked the best forex brokers based on the trading data collected and our experience as traders.

CMA-Licensed Forex Brokers in Kenya

Forex brokers in Kenya are authorised by the Capital Markets Authority (CMA) to operate in Kenya. The CMA’s website is www.cma.or.ke. We suggest investors and traders follow the CMA on Twitter, @CMAKenya, to get the latest news and updates.

CMA-licensed brokers are safe to trade with as the CMA is a respected regulator with strict rules to protect investors and traders. The regulator is highly regarded across Africa given that Kenya’s capital markets are the third-largest on the continent. The CMA has presided over the introduction of sophisticated investment products such as derivatives on the Nairobi Stock Exchange (NSE).

The CMA has not maximum leverage cap for brokers, with some brokers offering up to 400:1 leverage of Forex trades. The downside is that there is no deposit compensation scheme if a broker goes bankrupt.

Some of the key highlights of trading with CMA regulated brokers:

🏦Kenya Regulator	Capital Markets Authority (CMA)
📊Max. Leverage	N/A
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	Yes
💰Compensation Scheme	No Compensation Scheme

Best Forex Brokers in Kenya

We tested and reviewed 4 CMA-licensed forex brokers by opening live accounts, depositing real money, and placing real trades to select the best forex brokers. We wanted to accurately assess the actual spreads and commissions, the trading platform, deposit and withdrawals condition, trader education, and customer service.

Pepperstone – Best Overall Forex Broker in Kenya
FXTM – Best Forex Trading Platform Kenya
FXPesa – Best Forex Broker for Beginners in Kenya
Scope Markets – Best MT4 Broker Kenya

Best Overall Forex Broker in Kenya

We picked Pepperstone as the overall best forex broker in Kenya. Pepperstone offers a full package of a good broker. Opening an account is smooth. It offers 9 deposit & withdrawal methods. Spread is competitive at 1.15 on EUR/USD and along with no limit in trading strategy. Furthermore, it provides great education and trading tools including video tutorials, webinars, Autochartist and more. Lately, it also added social trading platforms (Myfxbook and DupliTrade).

Best Forex Broker for Beginners in Kenya

The best Forex broker for beginners is FXPesa due to its in-depth and sell-structured educational materials. New traders can learn via a variety of formats since the broker providers educational videos and articles.

Best MT4 Broker Kenya

The best MT4 broker in Kenya is Scope Markets, which offers the MT4 and MT5 trading platforms.

Kenyan Forex Brokers List & Review

besides our best picks above, we also put together a complete list of 16 Australian forex brokers along with our review.

Forex Broker	CMA Regulated	About Our Test	Our Review
Pepperstone	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	Pepperstone Review
FXTM	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	FXTM Review
FXPesa	Yes	Deposit Amount: Over Total Trades:	FXPesa Review
Scope Markets	Yes	Deposit Amount: Over Total Trades:	Scope Markets Review

FAQ & more on Kenyan brokers

How to verify a CMA Regulated Broker?

The CMA provides a list of all the licensed brokers in Kenya on its website under the Licensing & Approvals tab. The list is freely available for download. You can find the licensed Forex broker in the “Non-dealing Online Foreign Exchange Broker” section. You can also contact the CMA directly via the contact details on the website or via Twitter.

Best Forex Brokers in Kenya with mpesa

The CMA-licensed Forex brokers that accept M-Pesa include Scope Markets, FXPesa, FXTM, and Pepperstone. Kenyan-based traders can deposit and withdraw their funds using the popular M-Pesa mobile money service.

ECN Forex Trading Brokers in Kenya

The four brokers licensed by Kenya’s Capital Markets Authority (CMA) are all non-dealing desk brokers. Such brokers are also referred to as ECN (electronic communications network) brokers or STP (straight through processing) brokers.

While there are slight differences between ECN and STP brokers, they are both categorised as non-dealing desk brokers because they do not take the opposite side of their client’s trades.

Best Forex Trading Platform Kenya

Trading Platforms in Kenya are widely offered. Three of the brokers licensed by the CMA offer the MetaTrader 4 (MT4) platform to their clients. However, Scope Markets is the only broker that offers the MT4 and Mt5 platforms as the exclusive trading platform.

FXPesa (EGM Securities) and Pepperstone offer other platforms as alternative options to traders who do not want to use the popular MetaTrader 4 and 5 platforms.

High Leverage Forex Brokers Kenya

The CMA does not have a set limit on the leverage offers to Kenyan traders. Therefore, most of the licensed brokers offer high leverage levels to their clients in Kenya.

Scope Markets offers leverage of up to 400:1, with FXPesa offering maximum leverage of 400:1. FXTM leads the pack by providing up to 1000:1 leverage. Pepperstone offers up to 500:1 leverage.

Lowest spread forex broker in Kenya

EGM Securities (FXPesa) is the lowest-spread Forex broker in Kenya based on our extensive testing of all four licensed brokers.

Kenyan Forex Brokers offer Micro/Cent Account

All the brokers licensed in Kenya offer accounts that allow traders to trade micro-lots. However, the brokers have not named these accounts as micro/cent accounts although they qualify as such.

Top Forex Brokers Swap-Free in Kenya

FXTM and Pepperstone are the two brokers that offer swap-free (Islamic) accounts in Kenya.

Tax in Kenya for Forex Trading

Kenya residents that are engaged in forex trading are not always sure, whether their income is taxable or not. More often they just assume that taxes do not apply to foreign income. However, they are mistaken. The residents of Kenya need to pay taxes for forex trading, as it is considered a normal income. Thus, in Kenya, it is more important where the traders reside, rather than where the income generates from.

It is important for traders to remember that they have certain tax obligations toward the Kenyan Revenue Authority. Traders should also bear in mind that they are responsible for filing tax forms, and any delays or avoidance can lead to undesirable fines and complications.

Broker Categories

Best ECN Forex Brokers 2025

Post author By George Rossi
Post date June 11, 2021
1 Comment on Best ECN Forex Brokers 2025

For this list, we have searched and tested several ECN forex brokers offering ECN account.
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 had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.
We handpick the best ECN forex brokers based on our trading data and experience as a trader.

What is ECN Trading?

Electronic Communication Network or ECN is an automated bridging system that directly connects buyers and sellers in a trade settlement. ECN eliminates the need for a third party for matching the orders and maintaining an order book.

ECN is that it connects brokerages and traders in different geographies and broadens the liquidity of trades. It displays the best bid/ask price to the traders available over the network and automatically matches and executes trades.

Some of the advantages of ECN are:

It eliminates the role of any third party in connecting buyers and sellers.
It offers privacy to the traders.
It allows trading outside the usual trading hours and is available around the clock.
It eliminates the possibility of price manipulation.

What is an ECN Trading Account?

ECN trading account usually means the brokerage accounts providing traders direct access to the automated network.

These brokers provide ECN directly that connects buyers and sellers, meaning they pass the orders to the liquidity providers. They are non-dealing brokers and do not take any position against their clients’ trades, eliminating any conflict of interest.

ECN brokers usually make money by charging a commission on each transaction.

Some advantages of the ECN account:

All brokers in the network get access to the same price feed.
Brokers can offer tighter spreads.
It can provide anonymity to traders.
A massive liquidity pool is available.

However, the overall trading price paid by the traders with ECN accounts might get higher when compared with non-ECN brokers. This pricing that directly affects the profitability depends on the commissions charged by the ECN broker.

Some of the key highlights of trading with an ECN account:

🏦 Spread	Low spread starting at 0
📊 Commission	Mostly yes
🛡️ Trading Strategy	No Limit
🔒 Rejection	No
💰 Re-Quotes	No
💰 Slippage	Little to no slippage

Best ECN Forex Trading Brokers

To select the best ECN brokers, we tested and reviewed several forex brokers with ECN accounts. We opened live accounts and deposited real money with each broker. We 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. Here is our list of the top ECN Forex brokers.

BlackBull Markets – Best Overall ECN Broker
Dukascopy – Best ECN Broker for Beginners
GO Markets – Best ECN Forex Broker
INFINOX – Best ECN Broker with MT4
Moneta Markets – Best High Leverage ECN Broker

Best Overall Real ECN Broker

We have picked BlackBull as the best overall ECN broker with a True ECN environment.

BlackBull is based in Auckland, New Zealand, and is also regulated in multiple jurisdictions, including New Zealand and Seychelles. It offers a wide range of trading products that include forex, indices, stocks, commodities, and cryptocurrencies.

It offers trading with over 200 instruments and has no limitations on implementing trading strategies. It has three account types for retail traders covering both ECN and STP services. It offers MT4 and MT5 trading platforms and has an abundance of indicators and tools for market research and analysis.

Best ECN Broker for Beginners

We have picked Dukascopy as the best ECN broker for beginners.

Dukascopy is a Swiss broker offering trading services around the world. It is a suitable broker for beginners due to the vast educational resource it offers which includes detailed text and video guides, and regular newsletters with critical market information. It also arranges webinars.

Dukascopy also offers trading on various markets, including forex, stocks, commodities, and cryptocurrencies.

Best ECN Forex Broker

We have picked GO Markets as the best ECN forex broker.

GO Markets, an Australia-headquartered broker, offers some of the best services when it comes to forex trading. This broker offers 52 currency pairs and has no limits on trading strategies, meaning both hedging and scalping are allowed.

It offers to trade on MT4 and MT5. Both MetaTrader platforms are industry-standard with a massive community. Traders can easily import and run any special trading robots called Expert Advisors (EAs) or even create their own.

Best ECN Broker with MT4

We have picked GKFX as the best ECN broker with MT4.

GKFX is a popular brokerage brand that offers trading services across many countries. It holds licenses from the regulators in the UK, Malta, British Virgin Islands, Cambodia, and Australia.

The broker offers to trade on both MT4 and MT5, two of the widely used trading platforms for forex and CFDs. MT4 is the broker’s primary trading platform, and so most of its additional tools and features are integrated on this platform. It offers MT4 clients on both desktop and mobile platforms.

GKFX offers both MT4 and MT5 platforms on web, desktop, and mobile devices.

Best High Leverage ECN Broker

We have picked Moneta Markets as the best ECN broker with high leverage.

Moneta Markets is another brokerage brand under the Vantage Group. It is a comparatively new brokerage brand but gained a reputation quickly because of its operator.

It is a regulated broker in the United Kingdom, Vanuatu, and the Cayman Islands. It offers more than 300 forex and CFDs trading instruments with a maximum leverage of 500:1 on popular pairs.

Top ECN Forex Brokers List & Reviews

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

Forex Broker	ECN account	About Our Test	Our Review
GO Markets	Yes	Deposit Amount: Over €4,000 Total Trade: 12 trades	GO Markets Review
Vantage FX	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
FXTM	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
GKFX	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	GKFX Review
FBS	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	FBS Review
RoboMarkets (RoboForex)	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	RoboMarkets Review
INFINOX	Yes	Deposit Amount: Over €4,000 Total Trade: 9 trades	INFINOX Review
Dukascopy	Yes	Deposit Amount: Over €4,000 Total Trade: 15 trades	Dukascopy Review

FAQ and More on ECN 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 ECN brokers.

How to Verify a True ECN broker?

There are no exact rules or databases to check if a forex broker is offering true ECN services. But traders check brokerage’s services in certain ways to determine if it’s offering ECN services or not.

Some of the ways to verify a true ECN broker are:

The broker will declare in its client agreement if it is a true ECN or an ECN by association.
Trades can check the spreads by opening small positions. If the spreads are variable then the broker is likely to be an ECN, but if the spreads are fixed then it’s not an ECN broker.
Monitor the slippage. If there is only negative slippage, then it is likely that the broker is not an ECN broker.
True ECN brokers do not put any restrictions on trading strategies.

True ECN Forex Brokers List

True ECN brokers are the one that offers raw bid/ask market spreads to traders. They do not inflate the spreads and charges commission on the transactions of every lot.

Some of the true ECN brokers are:

BlackBull Markets
Dukascopy
Vantage FX
FXTM
RoboMarkets (RoboForex)

ECN vs Standard Account

Standard Account and ECN account execution models and fee structures are typically different. Standard Accounts is no commission account with a fixed or variable spread basis usually preferred by beginning traders, and ECN Account maintains a commission fee model with the interbank spread from 0 pip and fixed commission charged per lot.

ECN Broker No Commission

All ECN brokers charge a commission per lot traded, representing the trading fees.

Fixed Spread ECN Forex Broker

There are no ECN Forex Brokers offering Fixed Spread, ECN Broker Fees are based on Commission. Fixed Spread is offered only by Brokers maintaining Market Marking executions, check FxPro or GKFX for fixed spread proposal.

Best ECN Broker for Scalping

Best Broker for Scalping is a broker with a Spread Fee basis, since ECN Brokers’ costs are built into the commission charge we would advise picking those with a lower commission.

Check Some Scalping ECN Forex brokers:

BlackBull
FXTM
GO Markets
Vantage FX
LCG

Is Forex com ECN Broker

No, Forex com is a Market Making Broker, also offering STP accounts with NDD execution.

ECN Forex Brokers Australia

ECN brokers in Australia with direct market access are often preferred by expert traders for zero or tight spreads and fast execution.

Some of the best Australian ECN Brokers are:

Pepperstone
IG
IC Markets
GO Markets
FP Markets

ECN Brokers in South Africa

To legally offer services in South Africa, forex brokers need to be regulated by the Financial Sector Conduct Authority (FSCA), which oversees the entire financial market in the country.

Some of the ECN forex brokers in South Africa are:

INFINOX
FXTM

ECN Brokers in the USA

In the United States, forex brokers must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA).

Some of the regulated ECN brokers operating in the United States are:

Forex.com
IG (US)
ATC Brokers

ECN FX Brokers in Malaysia

Labuan Financial Services Authority (LFSA) is the Malaysian financial markets regulator that regulates forex brokers in the country.

Some of the popular ECN brokers offering services in Malaysia include:

RoboMarkets (RoboForex)
Vantage FX
FXTM

Broker Categories

Best Forex Brokers Australia 2025

Post author By George Rossi
Post date August 10, 2020
No Comments on Best Forex Brokers Australia 2025

For this list, we tested over 15 forex brokers with ASIC licenses operating in Australia.
We opened a real account and deposited between $4,000 and $8,000 with each broker. 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 encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.
We handpick the best forex brokers based on our trading data and experience as a trader.

Australian ASIC Regulated Forex Brokers

Forex brokers must be authorized and licensed by the Australian Securities & Investment Commission (ASIC) to operate in Australia. ASIC’s website is asic.gov.au and we suggest investors and traders follow ASIC on Twitter, @ASIC_Connect to get the latest news.

ASIC-regulated brokers are safe to trade as ASIC is a good regulator with a strict measure to protect investors and traders. It has imposed millions of dollars of fines to brokers for not complying with its operational guidelines. In some cases, ASIC even withdrew brokers license and banned directors from working in the industry.

ASIC allows Australian brokers to offer a maximum leverage of 30:1, and all brokers must provide negative balance protection. But the downside is that ASIC does not have any compensation scheme to protect traders if a broker goes bankrupt.

Some of the key highlights of trading with ASIC regulated brokers are:

🏦Regulator	Australian Securities and Investments Commission (ASIC)
📊Max. Leverage	30:1
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	Yes
💰Compensation Scheme	No Compensation Scheme

Best Forex Brokers Australia

To select the best forex brokers, we have tested and reviewed over 15 forex brokers operating in Australia. We opened live accounts and deposited real money. We placed real trades to get the exact picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

Pepperstone – Best Overall Forex Broker in Australia
IG – Best Forex Broker for Beginners in Australia
GO Markets – Best MT4 Broker Australia
CMC Markets – Best Forex Trading Platform Australia
Admiral Markets – Lowest Spread & Trading Fees in Australia

Best Overall Australian Forex Trading Brokers

We picked Pepperstone as the overall best forex broker in Australia.

Pepperstone is an excellent broker with a full package of services. The experience of opening a new account is smooth, and it offers 9 deposit and withdrawal methods.

Pepperstone also offers competitive spreads with only 1.15 pips on EUR/USD pair. Trading conditions with the broker are also excellent with no limit in trading strategies. Furthermore, it provides great education and trading tools, including video tutorials, webinars, Autochartist, and many more. The broker also added social trading services recently through Myfxbook and DupliTrade.

Best Forex Broker for Beginners in Australia

We picked IG as the best forex brokers for beginners in Australia.

IG is one of the top global forex brokers operating in Australia with an ASIC license. It is an excellent platform to start with as it provides a ton of educational resources to guide new traders.

IG’s educational guides include detailed articles, infographics, and video explainers. The broker also offers online trading courses and has end-of-course quizzes. For hands-on practice, it offers a demo account to new traders too.

The broker offers trading services with a wide range of asset classes and good trading platforms. It provides an arsenal of market research and analytics tools.

Best MT4 Broker Australia

We picked GO Markets as the best MT4 forex brokers in Australia.

GO Markets is an Australia-headquartered broker with operations around the world. It offers trading on both MT4 and MT5 platforms, which are developed by the MetaQuotes Software.

The broker also offers three account tiers, all on both MT4 and MT5. It offers these industry-standard trading platforms on both desktop and mobile devices.

GO Markets also offers trading with several asset classes, and spreads are also attractive for forex. All in all, it is the best MT4 forex broker in Australia.

Best Online Forex Trading Platform Australia

We picked CMC Markets as the best forex trading platform in Australia.

CMC Markets offers trading with forex, stocks, indices, and other asset classes. But the platform shines even only as a forex trading platform. It offers 339 currency pairs, which is higher than most of the top forex-only platforms.

CMC Markets also offers very attractive spreads. Out testing finds that the average spread on EUR/USD pair on the broker is only 0.7 pips, which the industry average stands at 1.6 pips. It also offers fast execution.

Forex Broker with Lowest Spread and Trading Fees in Australia

We picked Admiral Markets as the Australian forex broker with the lowest spreads and fees.

When it comes to forex spreads, Admiral Markets offers some lowest in the industry. Our testing of the broker finds that the average spread on EUR/USD spread remains 0.6, which is among the lowest in the industry. Spreads on CFDs of indices, stocks, and commodities are also much lower than the industry average.

Admiral Markets charges a trading commission on most accounts, but there is no trading fee on two basic account types. Overall, Admiral Markets is the best lowest spreads and fees broker in Australia.

Australian Forex Brokers List & Review

Besides our best picks above, we also put together a complete list of 16 Australian forex brokers along with our reviews.

Forex Broker	ASIC Regulated	About Our Test	Our Review
eToro	Yes	Deposit Amount: Over $6,000 Total Trade: 18 trades	eToro Review
AvaTrade	Yes	Deposit Amount: Over €4,000 Total Trade: 21 trades	AvaTrade Review
Plus500	Yes	Deposit Amount: Over €6,000 Total Trade: 18 trades	Plus500 Review
AXI (AxiTrader)	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	AXI Review
XM	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review
Admiral Markets	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
FP Markets	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	FP Markets Review
FxPro	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	FxPro Review
Pepperstone	Yes	Deposit Amount: Over €6,000 Total Trade: 12 trades	Pepperstone Review
CMC Markets	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	CMC Markets Review
IC Markets	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	IC Markets Review
Markets.com	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	Markets.com Review
Vantage FX	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
ThinkMarkets	Yes	Deposit Amount: Over €5,000 Total Trade: 15 trades	ThinkMarkets Review
GO Markets	Yes	Deposit Amount: Over €4,500 Total Trade: 12 trades	GO Markets Review
Fortrade	Yes	Deposit Amount: Over €5,000 Total Trade: 12 trades	Fortrade Review

FAQ & More on Australian Brokers

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

How to Verify an ASIC-Regulated Broker?

The registration details of any ASIC-regulated can be checked on the online registry of the regulator.

Go to https://connectonline.asic.gov.au/ and select the search type from the dropdown menu and type the name of the broker. A list of all the name matches will appear with the relevant licensing details.

ASIC (Australian Securities and Investments Commission) Register — ASIC Register

How to Compare Australian Forex Brokers?

All Australian forex brokers can be compared using the standard trading metrics like regulatory license, products offered, spreads and fees, deposit and withdrawal options, and a few other parameters.

We have tested several ASIC-regulated brokers based on these parameters and concluded that Pepperstone is the best overall forex broker in Australia.

ECN Forex Brokers in Australia

ECN brokers offer traders direct market access and do not take any positions against the traders. These brokers are often preferred by expert traders for zero or tight spreads and fast execution.

Some of the best Australian ECN traders are:

Pepperstone
IG
IC Markets
GO Markets
FP Markets

MT4 Forex Brokers in Australia

MT4 is the industry standard forex and CFD trading platform. It is preferred by both brokers and traders and dominates the trading industry, in terms of trade volume execution.

Though many brokers started to offer an alternate trading platform, MT4 remains the primary one for most of them.

Some of the MT4 Top Australian Forex Brokers are:

GO Markets
XM
Markets.com
ThinkMarkets
IC Markets

High Leverage Forex Brokers in Australia

From March 2021, ASIC set maximum leverage of 30:1 on CFDs for all regulated brokers. To access trading high leverage trading like 400:1 or 500:1, Australian traders need to be eligible to apply as professional traders or trade with a broker from New Zealand, like BlackBull Markets.

Lowest Spread Forex Broker in Australia

Spreads charged by the brokers remain the making or breaking factor to get clients. If the brokers charge too high spreads, traders will go to other platforms, and if the spreads are too low, along with no commission, then it would be hard to sustain the business.

Some of the Australian brokers with the lowest spreads are:

Admiral Markets
CMC Markets
AvaTrade
Plus500
Markets.com

Australian Forex Brokers Offer Micro/Cent Account

Micro/Cent account generally means the brokers calculate the trading account balance instead of dollars. Though most of the brokers do not promote themselves as micro/cent account brokers, they usually offer such services for standard retail clients.

Swap Free Forex Brokers in Australia

Some of the ASIC-regulated brokers offering swap-free accounts are:

IC Markets
ThinkMarkets
VantageFX
Pepperstone
AXI (AxiTrader)

Australian Regulated CFD Brokers

CFDs are described as agreements between buyers and sellers of financial derivatives settled in cash upon closing. CFDs traders only bet on the price movements; they never own assets.

Australian financial markets require CFD brokers to be properly regulated and licensed. Actually, the market is on the rise and at the moment it has over 710,000 active traders. Due to ASIC, CFD traders are mostly protected from losses by stringent regulations.

The most popular Australian regulated CFD brokers are:

IC Markets
Plus500

Tax in Australia for Forex Trading

In Australia, forex trading is a legitimate income source. Consequently, profits gained from forex trading are subject to taxation. The tax amount in Australia generally depends on how much was the overall gain of the year. Taxes usually comprise 23% of the gains. However, the taxes are applied if the trader proved to be profitable within the tax year.

Traders should remember, that it is their responsibility to pay taxes. Any avoidance or delay in paying can lead to fines. So, forex traders are recommended to follow all the rules and regulations on taxation.

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