Categories
Uncategorized

4 Best Day Trading Platforms 2022

For this list, we have searched and tested several day trading platforms.

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 day trading platform based on our trading data and experience as a trader.

What is Day Trading?

Day trading is the strategy that requires traders to buy and sell financial instruments within a day. Traders do not take delivery of the assets as the trades are closed within a single trading day.

Day trading is popular because of a few things:

  • Leverage trading
  • Short-term trading strategies

Day traders can make large profits with small capitals using trading strategies depending on the small price movements of the markets. Traders can use a small initial margin and receive leverages from brokers to take big positions on the markets.

Traders usually day trade on the foreign exchange (forex) and equities markets, where there is enough liquidity to close the trades quickly. However, short-duration trading is becoming popular in other markets like cryptocurrencies.

Some of the popular strategies used in day trading are:

📈ScalpingOpen and closing of positions at a small time-frame
📉Swing tradingTraders are kept open for one day or more, but not for too long
📊Range tradingTrading with the price movement of assets within a price range
🖥ArbitrageMaking profits from price game of the same asset in different markets
💻High-frequency tradingOpening and closing trades within a fraction of seconds using computer algorithms

Day traders use a ton of other strategies, but the crux is the trades need to be closed before the closing of the market. 

Day traders are usually experts in their field. Though day trade is rewarding, it is risky as the positions can be liquidated on heavily leveraged positions if the market moves in the other direction.

Best Day Trading Platforms

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

  • XTB – Best Day Trading Platform Overall
  • Robinhood – Best Day Trading Platform for Beginners
  • TradeStation – Best Day Trading Platform for Experts
  • Forex.com – Best Forex Day Trading Platform

Best Day Trading Platform Overall

We have picked XTB as the best day trading platform overall.

XTB is a market-leading platform for day trading. Its award-winning xStation 5 proprietary platform offers an excellent trading environment available both on desktop, web, and mobile as well.

When it comes to trading instruments, the platform is a one-stop-shop offering over 4,000 tradable instruments in forex, cryptocurrencies, indices, commodities, stocks and ETFs. It provides a wide range of analytical tools right in your pocket.

XTB’s fees are built into spreads and are mainly aligned with the industry average. XTB also offers MT4 in selected countries which is considered a market standard. Overall, XTB is best for its well-designed platforms packed with many innovative features and eye-catching customer support. The broker’s comprehensive educational materials and research tools enable both novice and experienced traders to hone their skills and improve their trading experience.

Best Day Trading Platform for Beginners

We have picked Robinhood as the best day trading platform for beginners.

Robinhood has tapped into a new bread of traders with its services: amateur traders. The platform is completely mobile-based and has a user-friendly interface.

Robinhood revolutionized the trading space with its zero-commission model, which also garnered a fair share of controversies. The platform offers trading services with US equities, options, gold and cryptocurrencies.

The brokerage platform is very popular among newbie investors but did not receive much attention from experts. No doubt the platform aces with its usability and low fees, but when it lacks good support for market data, which is a must for experts. The quotes on the platform are a bit delayed and it does not offer many market research tools.

Best Day Trading Platform for Experts

We have picked TradeStation as the best day trading platform for experts.

TradeStation is an excellent platform when it comes to experienced and active traders. It provides high-quality market data for research with fast execution speed. Additionally, the platform is known to be very stable with very little downtime.

TradeStation offers trading with a wide range of assets: stocks, ETFs, options, futures, cryptocurrencies, mutual funds and bonds. It provides excellent indicators and charting tools to its clienteles for research, along with advanced order types and algorithms.

However, the platform can be tough to navigate for beginners. There is a steep learning curve with TradeStation and the multiple pricing choices can also confuse amateur traders. Overall, it is a great platform for professionals, but not for beginners.

Best Forex DayTrading Platform

We have picked Forex.com as the best forex day trading platform for experts.

When it comes to trade currency pairs, Forex.com is the best platform. It is a part of GAIN Capital Holdings that is now owned by the StoneX Group.

Forex.com is authorized by the CFTC and NFA in the United States. The platform also holds other overseas regulatory licenses and has operates across the globe.

The platform lists 91 currency pairs and offers excellent indicators and charting tools. In addition to forex, the broker offers trading services with equities, commodities, indices, bonds, ETFs, industry sectors, cryptocurrencies, and commodities. The execution rate on the platform is also fast, and high-volume traders can also earn rebates on their trades.

Best Broker for Day Trading List

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

Forex BrokerTest DetailsBroker Review
FxPro
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Markets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)Deposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
FortradeDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on Day Trading Platforms

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 day trading platforms.

Best Trading Platform for Beginners

Many beginner traders are jumping into day trading lately. Though looks profitable, day trading is risky and traders need to educate themselves about the markets and trading techniques. Some of the best day trading platforms for beginners are:

  • Robinhood
  • TD Ameritrade
  • Interactive Brokers

Stocks Day Trading Platforms

Day trading in the stocks has always remained popular due to the liquidity in the equities markets and the volatility triggered by company activities: let its results, merger and acquisitions, or big management moves. Some of the best stocks day trading platforms are:

  • TD Ameritrade
  • Charles Schwab
  • E*Trade

Options Day Trading Platforms

Trading options are popular among day traders because of their high prospects of profitability. It is one of the preferred financial instruments as traders can hold on to them more than a single trading day. Some of the best options trading platforms are:

  • Fidelity Investments
  • TradeStation
  • E*Trade

Cryptocurrency Day Trading Platforms

Trading cryptocurrencies have become very popular in the past few years mostly due to the volatility in the markets. Demand in the market also generates enough liquidity to find near instant buyers or sellers. Some of the popular regulated trading platforms for day trading with cryptocurrencies are:

  • Coinbase
  • TradeStation
  • Kraken
  • Gemini

Day Trading Platforms with Low Fees

Brokers charged high fees on day trading for years, but the trend has changed. Many disruptive brokers are now offering day trading services without any commissions. Some of the cheapest day trading platforms are:

  • Robinhood
  • Webull
  • Firstrade

Best Day Trading Platforms UK

Day trading is popular around the world, including in the United Kingdom. The Financial Conduct Authority regulates the brokers offering any type of financial services in the country. Some of the best day trading platform for beginners UK are:

  • Interactive Brokers
  • IG Markets
  • Saxo Markets

Day Trading Platforms in India

India is an emerging market, and demand for day trading is aggressively growing in the country. It also hosts one of the top ten stock exchanges in terms of market capitalization. Some of the Indian day trading platforms are:

  • Zerodha
  • Upstox
  • ICICI Securities
Categories
Uncategorized

Best Cent Account Forex Brokers Offering 2022

To come up with this list, we have searched and tested several Cent Account Forex brokers offerings.

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

To solve the issues we have encountered, we also reached out to customer support. At last, we withdrew our funds to check for any possible problems with the withdrawal process.

Based on our trading data and experience as a trader, we handpicked the best forex brokers with cent accounts.

What is a Cent Account in Forex?

A cent forex account calculates and maintains the balance in the lowest fungible form of a currency, like USD cent or GBP penny. These accounts also allow trading with a much smaller lot size of the currency pairs.

Cent accounts are popular among novice traders who do not want to risk a lot of money in trading. However, these account types are also preferred by expert traders who just want to test new trading strategies.

Micro Account vs Cent Account

The difference is the nominal amount for Cent Account displayed in Cents instead of Dollars and Trading size caunted in Micro Lots for Micro Account.

Best Cent Account Forex Brokers

To select the best regulated forex brokers with Cent Account, 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.

  • RoboMarkets (RoboForex) – Best Overall Forex Broker
  • XM – Best Forex Broker for Beginners
  • HotForex – Best MT4 Forex Broker
  • FXTM – Best Forex Trading Platform in Switzerland
  • FBS – Best Forex Broker with Lowest Spread

Overall Best Cent Account Forex Brokers

We have picked RoboMarkets (RoboForex) as the best overall cent account forex brokers.

RoboMarkets (also known as RoboForex) is regulated in Cyprus, Belarus, and Belize. It offers trading with forex, indices, stocks, and commodities, and lists around 107 instruments. It offers trading on two industry-leading platforms, MT4 and MT5, and on proprietary R Trader.

RoboMarkets is one of the few brokers that offer a dedicated cent trading account. It has a minimum deposit requirement of $100. Additionally, traders with Islamic beliefs can open swap-free cent accounts with the broker.

Best Cent Account Broker for Beginners

As the best cent account broker for beginners we have picked XM.

When it comes to the best cent accountt forex broker for beginners, we should speak about XM. It stands out for the resources of self-education on both the forex market operations and trading strategies. The broker is well-regulated. It holds licenses in the UK, Cyprus, Australia, UAE, and Belize.

XM offers trading with more than 1,300 instruments, such as currency pairs, stocks, indices, and commodities. The broker also offers negative balance protection on all its account types.

Best Leverage for Cent Account Broker

We have picked HotForex as the best high leverage cent account forex broker.

HotForex is one of the few reputed brokerages that offer a cent account, along with high leverage. The broker offers maximum leverage of 1000:1 on major currency pairs and provides trading with forex and CFDs. It also gives direct market access for stock trading.

Best MT4 Cent Account Brokers

We have picked FXTM as the best MT4 cent account forex broker.

The broker provides MT5 and FXTM Trader.

FXTM offers around 62 currency pairs, along with CFDs of indices, commodities, stocks, and cryptocurrencies. It also takes four fiats (USD, GBP, EUR, and NGN) as base currencies. It offers instant execution, and the maximum trading volume for a position is limited to a single standard lot.

FXTM is regulated in the UK, Cyprus, South Africa, and Mauritius.

Lowest Spread Cent Account Brokers

We have picked FBS as the best lowest spread cent account forex broker.

FBS definitely offers the best cent account when it comes to trading-related fees. Our testing finds that the spreads charged by the broker on EUR/USD pairs are about 1.13 pips, which is less than the industry average. Besides, the broker has minimum non-trading fees.

FBS’s services are also simple with two types of accounts: standard account and cent account. For the cent account, the required minimum deposit is $10. It does not charge any commission, and cent account traders are able to trade a maximum volume of up to 1,000 cent lots.

Cent Account Forex Brokers List

Here is a complete list of forex brokers that offer cent accounts, which we have tested and reviewed.

Forex BrokerAccount TypeVisit BrokerBroker Review
FXTMCent AccountDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
RoboMarkets (RoboForex)Cent AccountDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
FBSCent Account Deposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review

FAQ and More on Brokers Offering Cent Accounts

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

Cent Account Forex Brokers in Australia

Australia Cent Account Forex brokers should be licensed by ASIC to accept traders from Australia. Though most of the brokers do not promote themselves as cent account brokers, they usually offer such services for standard retail clients.

Forex Brokers with Cent Account in Malaysia

Forex brokers need to be licensed by the Financial Services Authority of Labuan (Labuan FSA) to operate in Malaysia, but well-regulated foreign brokers can also take Malaysian traders. Some of the forex brokers offering cent accounts in Malaysia are:

  • RoboMarkets (RoboForex)
  • FXTM
  • HotForex

Cent Account Forex Brokers in India

The Securities and Exchange Board of India (SEBI) controls Indian financial services players, yet forex brokers are comparatively loosely regulated in the country. Here is the list of some of the well-regulated forex brokers offering cent accounts in India:

  • FBS
  • XM
  • HotForex

MT4 Cent Account Forex Brokers

The most popular trading platform for trading forex and CFDs among retail and professional traders is MetaTrader4 or MT4. Some of the forex brokers that offer cent accounts on the MT4 platform are:

  • FBS
  • RoboMarkets (RoboForex)
  • XM
  • HotForex

High Leverage Cent Forex Brokers

Leverage is a crucial aspect in forex trading. Thus, brokers attract more traders when they offer higher leverage levels. Here is the list of cent account forex brokers offering high leverage:

  • FBS
  • XM
  • HotForex
Categories
Uncategorized

Best Lowest Spread Forex Brokers 2022

For this list, we have searched and tested several forex brokers offering lowest spreads across all markets.

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

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

We handpick the best lowest spread forex brokers based on our trading data and experience as a trader.

What is a Spread in Forex Trading?

The difference between the bid and ask price of any financial instrument on a trading platform in Forex Trading is called the spread, or more specifically bid-ask spread. The middleman, usually the broker, will take the bid-ask spread as profit for facilitating trading by creating a marketplace.

The spread in forex trading depends on several factors:

  • Supply or float
  • Demand
  • Trading activity

As the brokerage business is becoming competitive day by day, brokers are trying to undercut each other by offering low spreads. Most of the brokers even offer attractive spreads and do not charge additional commission on trading to attract more clients.

How is Forex Spread Calculated?

The bid-ask spread in forex trading is the difference between the price at which the broker or market maker buys and sells a currency. The bid is the price at which the broker is willing to buy the base currency in exchange for the counter currency, while the ask price is at which the broker is willing to sell the base currency.

For example, a broker displays the bid-ask price of EUR/USD pair as $1.2000/1.2050. It means to initiate a buy trade, the trader has to pay an ask price of $1.2050. If the trader immediately wants to exit the trade, the broker will pay the bid price of $1.2000. The gap of $0.0050 is the spread.

Best Low Spread Forex Brokers

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

Best Overall Low Spread Forex Broker

We have picked CMC Markets as the best overall low spread forex broker.

CMC Markets is a reputed and heavily regulated broker. It is licensed in the UK, Germany, Australia, Singapore, New Zealand, Canada, and the UAE. Its offerings include forex and CFDs of stocks, commodities, indices, and cryptocurrencies. It also offers spread betting in the UK.

When it comes to spreads, CMC Markets aces with flying colors. According to our tests, the average spread on the EUR/USD pair on the broker is only 0.7 pips, much lower than the industry average of 1.6 pips. It remains consistently lower for other markets as well: 2 pips for FTSE 100, 1 pip for Apple CFDs, and 3 pips for gold. All of them are lower than the industry averages.

Best Low Spread Forex Broker for Beginners

We have picked ActivTrades as the best low spread forex broker for beginners.

ActivTrades is a London-headquartered broker and is regulated in the UK, Bahamas, and Luxembourg. It is one of the best choices for beginner traders due to the wide library of educational resources. It has the best trading platform for beginners, as the most unique service is the one-to-one lessons provided to new traders. It also hosts webinars and in-person seminars on trading topics. Beginner traders can even test their trading skills on the demo account.

As for the spreads, ActivTrades spreads are either lower or around the industry average. The average spread on the most common EUR/USD pair is only 0.57 pips, while Apple CFDs and gold are 1.17 and 3.57, respectively.

Best High Leverage Low Spread Forex Broker

We have picked Dukascopy as the best high leverage low spread forex broker.

Many offshore brokers offer high leverages, but Dukascopy is one of the well-regulated ones in this space. With its Swiss FINMA license, Dukascopy offers leverage of up to 100:1 on major currency pairs. The broker is also regulated in Japan and Latvia.

Dukascopy also offers attractive spreads: the average for the EUR/USD stands at 0.8 pips, while for Apple CFDs and gold it is at 1.97 pips and 3.48 pips, respectively. The broker offers trading services with forex and CFDs of other asset classes.

Best MT4 Low Spread Forex Broker

We have picked Admiral Markets as the best MT4 low spread forex broker.

Admiral Markets offers trading services on MetaTrader 4 and MetaTrader 5 platforms, the former being the popular one. It offers a ton of useful indicators and charging tools on the trading platforms, helping the traders to analyze the markets.

The Estonia-headquartered broker offers some of the lowest spreads in the industry across all markets. Our tests found that the average spread on the EUR/USD pair was only 0.6 pips. It was 0.8 pips for both FTSE 100 and Apple CFDs. Gold spread is also below the industry average at 29 pips.

Admiral Markets is regulated in the UK, Cyprus, Australia, and Estonia, offering trading with forex, indices, stocks, commodities, and cryptocurrencies.

Best Low Spread Forex Trading Platform

We have picked Capital.com as the best low spread forex trading platform.

Capital.com is one of the top platforms when it comes to forex trading. It lists a total of 138 currency pairs, along with CFDs of indices, stocks, commodities, and cryptocurrencies. It offers trading services on industry-leading MT4 platforms and has no limitations on strategies, meaning both hedging and scaling are allowed.

Based in London, the broker also offers attractive forex spreads: the EUR/USD pair averaged at 0.8 pips on our tests.

Lowest Average Spread Forex Brokers List

Here is a complete list of forex brokers and the spreads charged by them on various markets, which we have tested and reviewed.

Forex BrokerSpread on EUR/USDSpread on FTSE 100Spread on Apple CFDsSpread on GoldTest DetailsBroker Review
FxPro1.61.70.63.1
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral Markets0.60.80.82.9Deposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull Markets1.231.040.42.37Deposit Amount: Over €4,000
Total Trade: 12 trades
Visit BlackBull Markets
GO Markets1.0242.43Deposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTrades0.572.981.173.57Deposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XM1.61.51.353.5Deposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTM1.95.11.574.5Deposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM Capital1.40.90.623.33Deposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
Tickmill1.6313.8Deposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comYesNoDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTB0.81.48.33.12Deposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)1.680.830.73.12Deposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
Pepperstone1.1510.851.58Deposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBS1.1314.6Deposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFX0.670.833.72Deposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
Darwinex0.320.702.171.33Deposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC Markets11.11.52.2Deposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarkets1.30.733.93Deposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP Markets1.21.32.33.9Deposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana Capital1.431.80.424.35Deposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTrade0.871.172.13.67Deposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC Markets0.7213Deposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FX1.150.881.172.42Deposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOX1.212.2Deposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Axi (AxiTrader)1.21.12.8Deposit Amount: Over €6,000
Total Trade: 12 trades
Axi (AxiTrader) Review
Plus5000.821.94Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
eToro0.971.42.234.5Deposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Trading 2121.372.471.77.47Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
Fortrade1.832.272.64.5Deposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ and More on Low Spread Forex Brokers

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

Low Spread Forex Brokers in the UK

Many UK-based forex brokers are offering low spreads to traders. These are FCA regulated forex brokers. It is one of the most reputed financial market regulators. Some of the UK-based low spread forex brokers are:

  • Capital.com
  • Markets.com
  • Plus500
  • ActivTrades 

Low Spread Forex Brokers in Singapore

The Monetary Authority of Singapore (MAS) regulates all forex brokers operating in the country. Some of the low spread forex brokers operating in Singapore are:

  • Plus500
  • OANDA
  • CMC Markets

Low Spread Forex Brokers in the US

The forex industry is heavily regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Due to very strict guidelines, only a few forex brokers are offering services in the country. Some of the US forex brokers offering low spreads are:

  • OANDA
  • TD Ameritrade
  • Forex.com

Lowest Forex Spread Currency Pairs Brokers for EUR/USD

Spreads have decreased heavily over the past few years among Forex Trading Brokers. Some of top lowest spread forex brokers for trading currency pairs, based on our tests, are:

  • ActivTrades
  • Admiral Markets
  • GKFX

Low Spread Brokers for Indices

The top forex brokers with the lowest spreads for trading indices (based on our real-world tests) are:

  • ThinkMarkets
  • Admiral Markets
  • GKFX
  • RoboMarkets

Low Spread Brokers for Share CFDs

The top three lowest spread brokers for trading share CFDs, which we have tested and reviewed, are:

  • BlackBull Markets
  • Amana Capital
  • FxPro

Low Spread Brokers for Crypto

Crypto CFDs trading has also become popular as digital currency prices remain too volatile. Some of the top brokers offering crypto CFDs and also charging low spreads are:

  • AxiTrader
  • Vantage FX
  • ThinkMarkets

MT4 Low Spread Forex Brokers

MetaTrader4 or MT4 is the most popular trading platform for trading forex and CFDs, both among retail and professional traders. The top MT4 forex brokers with the lowest spreads are:

  • CMC Markets
  • ActivTrades
  • Markets.com

High Leverage Low Spread Forex Brokers

Though many offshore forex brokers are offing high leverage levels, only a few well-regulated ones are offering the same. Some of the best well-regulated high leverage forex brokers that offer the lowest spreads are:

  • Dukascopy
  • BlackBull Markets
  • CMC Markets
Categories
Uncategorized

Best Spread Betting Platform 2022

For this list, we have searched and tested several spread betting platforms that are operating in the United Kingdom.

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

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

We handpick the best spread betting platform based on our trading data and experience as a trader.

What is a Spread Betting?

Spread betting is a derivative product that allows traders to speculate on the price movement of any financial instrument, let it be forex, stocks, indices or commodities.

Similar to any other derivative product, traders do not own the underlying asset of spread betting. They only place bets on whether the price of the underlying asset will go up or down and profit from that.

Financial spread betting was first introduced by the London-based IG Index (a subsidiary of the IG Group) in 1974. In fact, it remains very similar to the original spread betting used in sports.

Spread betting is leveraged trading, meaning traders can take big positions with only a percentage of margin deposits to maximize their profits, but the higher the leverage, the higher the risk.

Spread betting is not legal in most countries, but is very popular in the United Kingdom and is regulated by the Financial Conduct Authority (FCA).

Some of the advantages of spreading are:

  • It is leveraged
  • Availability of a wide variety of markets
  • Gains are not taxed
  • No additional commissions charged
  • Negative balance protection

How does Spread Betting Work?

In spread betting, traders bet on the per-point market price movement of the underlying asset. The betting amount depends on the traders.

For example, in the case of HSBC share, which is trading at 400p on the stock exchange, spread bettors can either long or short the stock. They can bet £100 on every point movement of the HSBC stock. If the HSBC stock price goes up to 410p, the trader will profit by £1,000 (£100 gained for each point movement, so £100 X 10 = £1,000).

If the bettor (or trader) shorts the HSBC shares and the stock price dips to 395p, then the profit will be £500 (£100 x 5).

But, in the case of the long or short position, the price of HSBC shares price moves in the opposite direction of the bet, the bettor will lose money. For a long position, if the price goes down to 390p, there will be a loss of £1,000 (£100 X 10).

The bettor has to deposit a margin amount with the broker for spread betting. In case of a loss-making bet, if the loss equals the margin amount, the broker will ask the bettor to deposit additional funds, also called the margin call. Else, the position will be closed.

In reality, the broker quotes an offer price (for buying) and a bid price (for selling) for each spread betting instrument. For HSBC shares, the offer price could be 401p, while the bid price could be 399p. The difference of 2p is the spread, and the broker makes a profit from this gap.

Best Spreading Betting Platforms

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

  • IG Markets – Best Overall Spread Betting Platform
  • Pepperstone – Best Spread Betting Platform for Beginners
  • OANDA – Best MT4 Spread Betting Platform
  • City Index – Best Spread Betting Platform with Low Spread
  • CMC Markets – Best Spread Betting Forex Trading Platform

Best Overall Spread Betting Broker

We have picked IG Markets as the best overall spread betting platform and Broker.

IG Markets is the pioneer of financial spread betting as it invented the product in 1974. The broker offers spread betting under its Financial Conduct Authority (FCA) license in the UK.

IG offers spread betting in more than 17,000 markets that include forex, stocks, indices, and commodities. Traders can get maximum leverage of up to 30:1 on major currency pairs, while for company shares a minimum of 20% margin is required.

The broker also makes its fees transparent: with a minimum spread from 0.6 pips for currency pairs to 0.1 points for indices and stocks. It also has excellent customer service that is available around the clock.

Best Spread Betting Platform for Beginners

We have picked Pepperstone as the best spread betting platform for beginners.

Headquartered in Australia, Pepperstone is relatively a new player in the brokerage space and was founded in 2010. It offers a separate spread betting account under its FCA license.

Pepperstone is perfect for new traders because of its extensive learning material on the financial market and spread betting. The broker provides services on MT4, MT5, and cTrader. It promises no dealing desk execution and also has a very good support team to help the traders.

Best MT4 Spread Betting Platform

We have picked OANDA as the best MT4 spread betting platform.

OANDA, which is regulated by the FCA, offers thousands of spread betting markets that range from forex and stocks to indices and commodities. It offers its services on the MT4 platform with some excellent indicators and advanced market analysis tools. The broker offers the MT4 platform on web, desktop and mobile devices.

The spreads offered by the broker are also on the lower side across markets. OANDA is a global broker and is regulated in many countries, but it offers spread betting only in the UK and Ireland.

Best Financial Spread Betting Accounts with Low Spread

We have picked City Index as the best spread betting account and platform with low spread.

When it comes to spreads of spread betting, City Index offers the best services. It spreads on the major currency pairs starts at 0.5 pips. The number is also on the lower side for share CFDs. The broker also highlights that it profits only from spreads on spread betting and does not charge any commission.

City Index is operated by Gain Capital, which is a subsidiary of StoneX. The broker is regulated by the FCA in the UK and it offers spread betting on more than 8,000 global markets.

Best Spread Betting Forex Trading Platform

We have picked CMC Markets as the best spread betting forex trading platform.

CMC Markets is one of the best platforms for spread betting services with forex instruments. It lists 339 currency pairs on its platforms for spread betting, while the total number of markets exceeds 10,000. It offers currency trading services on MT4, which is preferred by most traders. The broker also has no limitations on trading strategies, meaning it allows both hedging and scalping.

CMC Markets is headquartered in London. The FCA regulated broker is already licensed by several other licenses from global regulators. It is also a public company, so it has to disclose its financials every quarter making it a very safe platform.

Spread Betting Platforms List

Apart from the shortlisted platforms, here is a complete list of brokers that offers spread betting services on various markets, which we have tested and reviewed.

Forex BrokerSpread Betting AccountFCA RegulatedTest DetailsBroker Review
FxProYesYes
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
ActivTradesYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
Capital.comYesYesDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
PepperstoneYesYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
GKFXYesYesDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsYesYesDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
AvaTradeYesYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXYesYesDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review

FAQ and More on Spread Betting 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 spread betting brokers.

Best Spread Betting Platforms in the UK

Spread betting is legal and very popular in the UK and Ireland. These platforms are regulated by the Financial Conduct Authority, the country’s financial markets regulator and provide safe conditions for FX Currency spread betting. Some of the top spread betting platforms in the UK are:

  • IG Markets
  • CMC Markets
  • City Index
  • ETX Capital

Best Spread Betting Account for Beginners

For beginner bettors to enter spread betting they need to understand both the complex financial marketing and trading techniques, and open account with suitable for Beginners Accounts. Some of the best spread betting platforms for beginners are:

  • IG Markets
  • Pepperstone
  • Saxo Bank

Best Forex Spread Betting Platforms

Spread betting is very popular with currency pairs as it is leveraged, and gains are not taxed. Some of the best forex spread betting platforms are:

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

Spread Betting Platforms with Low Spreads

Spread betting platforms only charge spreads on the markets from traders and there are usually no additional commissions. Some of the spread betting platforms with low spreads are:

  • City Index
  • Pepperstone
  • Darwinex

MT4 Spread Betting Platform

MetaTrader4 or MT4 is the most popular trading platform for trading forex and CFDs, both among retail and professional traders. The top MT4 forex brokers with the lowest spreads are:

  • CMC Markets
  • ActivTrades
  • Markets.com
Categories
Uncategorized

Best Forex Trading Platform 2022 ( UK, USA, EU, AU)

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

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

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

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

What is Forex Trading?

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

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

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

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

What is Retail Forex Trading?

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

Advantages of trading forex as an asset class:

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

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

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

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

What is the Best Currency Trading Platform?

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

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

Best Forex Trading Platform in the United Kingdom

We have picked BlackBull Markets as the best forex trading platform in the UK.

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.

BlackBull lists a total of 200 currency pairs, along with instruments of other asset classes, and offers trading services on the industry-standard MT4 and MT5 platforms. It does not have any limitations on trading strategies, allowing traders to run both hedging and scalping.

Additionally, the broker does not charge any commission and has some of the lowest spreads in the industry. According to our testing, BlackBull has an average spread of 0.4 pips on the Apple Stocks, which is considerably lower than the industry average.

Best Forex Trading Platform in the United States

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

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

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

Best Forex Trading Platform in the European Union

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

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

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

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

Best Forex Trading Platform in Australia

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

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

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

Best Forex Trading Platform in Singapore

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

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

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

Forex Trading Platform List

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

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

FAQ and More on Forex Brokers

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

Top Forex Brokers in the UK

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

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

Top Forex Trading Platform in the US

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

  • Forex.com
  • TD Ameritrade
  • OANDA
  • IG (US)

Top FX Trading Platforms in Dubai

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

  • Pepperstone
  • Swissquote
  • Amana Capital
  • IG Markets

MT4 Forex Trading Platforms

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

  • BlackBull
  • Capital.com
  • Markets.com
  • IC Markets
  • ThinkMarkets

High Leverage Forex Trading Platforms

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

Categories
Uncategorized

No Deposit Bonus Forex 2022

For this list, we have searched and tested several forex brokers that offer no deposit bonus.

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 no deposit bonus forex brokers based on our trading data and experience as a trader. Find the best forex no deposit bonus 2022 India brokers.

What is Forex No Deposit Bonus?

No deposit bonus is the initial free credit offered by the forex brokers upon the opening of a new trading account. It is one of the marketing tactics used by the brokers to attract new traders.

Though the brokers run many promotional schemes, traders receive no deposit bonus without making any initial deposits. It is almost like handing out free money to new traders.

Advantages of no deposit bonus:

  • New traders can start trading on the real markets without risking their own money
  • Expert traders can use the no deposit bonus to run and test new strategies

But usually, there are certain conditions with which the brokers deposit the no deposit bonus to the new traders’ accounts

For one, the traders cannot just withdraw the bonus credit to their bank account. They actually need to trade with this money, and only gains from the trades can be withdrawn. Many brokers even do not allow withdrawal without any initial deposit. These conditions, however, vary from broker to broker.

Many regulators, however, heavily restricted promotions using any kind of bonus. Reputed financial market regulators like the FCA, ASIC and other European regulators do not allow brokers to offer bonuses to traders. But there are still some good regulators that allow offering bonuses.

Different Types of Forex Bonuses

Brokers usually run many promotional offers for distributing bonuses. Though different brokers offer different schemes, the most common types of forex bonuses are:

  • No Deposit Bonus: This type of bonus program does not require traders to make their first deposit with the broker. They receive the free credit just after opening the account with the broker. But, only a few well-reputed brokers still offer no deposit bonuses.
  • Deposit Bonus: A deposit bonus is very common in the retail trading industry. Brokers credit a certain percentage of the deposit to the traders’ accounts after deposits are made. Usually, brokers run a tired program under which various sums are credit after a certain deposit amount with a cap on the maximum bonus.

Best No Deposit Bonus Forex Brokers

To select the best no deposit bonus forex brokers, we tested and reviewed several forex brokers. We opened live accounts and depositing real money with each broker.

We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • Tickmill – Best Overall No Deposit Bonus Forex Broker
  • XM – Forex Broker with Both Deposit and No Deposit Bonus
  • FBS – Forex Broker with Highest No Deposit Bonus

Best Forex Bonus Overall No Deposit Broker

We have picked Tickmill as the best overall no deposit bonus forex broker.

Tickmill is one of the very few forex brokers still offering a no deposit bonus. The broker offers a $30 no deposit bonus only to the clients onboarded under its Seychelles-regulated entity. Tickmill is regulated in the UK, Cyprus, South Africa, Seychelles and Malaysia (Check no deposit bonus forex Malaysia). But, most of the jurisdictions do not allow brokers to offer any kind of bonus.

Tickmill offers forex and CFDs trading services on MT4 platforms. It offers a good number of deposit and withdrawal methods. The broker also maintains an excellent support team to help the traders.

Best MT4 No Deposit Bonus Forex Broker

We have picked XM as the best MT4 no deposit bonus forex broker.

XM is one of the few brokers that offer both deposit bonuses and no deposit bonuses. New traders on the platform can receive a $30 no deposit bonus. Additionally, the broker offers a bonus of up to $5,000, which is credited equivalent to 20% of the deposits made to it.

The XM brand is operated by Trading Point Holdings, which is licensed by the regulators in Australia, the United Kingdom, Cyprus, the UAE and Belize. However, most of the regulators do not allow brokers to offer bonuses. It offers bonuses with the Belize license.

XM lists 1,336 financial instruments that include currency pairs and CFDs of indices, stocks, and commodities.

Forex Broker with Highest No Deposit Bonus

We have picked FBS as the forex broker with the highest no deposit bonus.

FBS runs multiple promotions and bonus schemes to attract new traders. It is another broker offering both deposit and no deposit bonuses. It offers the highest $140 no deposit bonus: $70 can be claimed after opening an account, and the other $70 after downloading the broker’s mobile app (FBS Personal Area app).

FBS clients can also receive a 100% deposit bonus that is capped at $10,000. FBS is a multi-regulated broker with services globally, but offers bonuses only to the traders under the Belize entity. Apart from Belize, it is regulated in Cyprus and Australia.

FBS provides trading services with forex, indices, commodities, and stocks, and cryptocurrency CFDs. It also offers spreads below the industry average without any additional commissions on trades.

No Deposit Bonus Forex Brokers List

Apart from the shortlisted platforms, here is a complete list of brokers that offers no deposit bonus and also deposit bonus to traders:

Forex BrokerDeposit BonusDetailsNo Deposit BonusDetails
TickmillNoUS$30Bonus Details
XM100%Bonus DetailsUS$30Bonus Details
FBS100%Bonus DetailsUS$140Bonus Details
EightcapUS$50 – US$1,000Bonus Details
AvaTradeUS$200 – US$10,000Bonus Details
Amana CapitalUS$200 – US$1,000Bonus Details
ADSSUS$100 – US$800Bonus Details
Plus500S$70 – S$13,000Bonus Details
Capital.com$50Bonus Details
FXCM$25Bonus Details
City Index20%Bonus Details
Roboforex120%Bonus Details
Libertex100%Bonus Details
Admiral Markets100%Bonus Details
HotForex100%Bonus Details
GKFX55%Bonus Details
XTB50%Bonus Details
Vantage FX50%Bonus Details
Moneta Markets50%Bonus Details
FXTM30%Bonus Details
BDSwiss30%Bonus Details
Markets.com20%Bonus Details
GO Markets20%Bonus Details
Forex.com20%Bonus Details
Blueberry Markets20%Bonus Details
Dukascopy10%Bonus Details
HYCM10%Bonus Details
Exness10%Bonus Details
ICM Capital10%Bonus Details

FAQ and More on Forex Trading Bonus 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 no deposit bonus forex brokers.

No Deposit Bonus Brokers in South Africa

Though many forex brokers operate in South Africa, Tickmill is the only FSCA-regulated broker still offering a $30 no deposit forex traders. Read our article about legit forex brokers in Nigeria. Other South African brokers offering deposit bonuses are:

  • FXTM
  • AvaTrade
  • Plus500

No Deposit Bonus Brokers in Australia

Australian forex brokers need to be regulated by the local financial markets regulator, the Australian Securities and Investments Commission (ASIC). The ASIC does not allow brokers under its purview to offer bonuses to retail traders anymore. But, some of the Australian forex brokers offering deposit bonuses with their offshore licenses are:

  • Vantage FX
  • Moneta Markets

Forex Brokers with $30 No Deposit Bonus

Only a few forex brokers still offer no deposit bonuses, and most of them only offer up to $30. The two forex brokers, which we verified, offer $30 no deposit bonus are:

  • Tickmill
  • XM

Welcome Bonus Forex $50

Unfortunately, none of the forex brokers, out of dozens we have tested and verified, offer $50 no deposit brokers anymore. But, some of the forex brokers still offering more or less no deposit bonuses are:

  • Tickmill
  • XM
  • FBS

Forex Brokers with $100 No Deposit Bonus

Though not exactly $100, only one broker offers no deposit bonus around that mark. FBS clients can receive up to $140 in no deposit bonus: $70 after verification and another $70 after they download the forex broker app.

Forex Brokers with $200 No Deposit Bonus

None of the forex brokers offer a no deposit bonus as high as $200 anymore. FBS is the only broker that still offers a no deposit bonus of up to $170.

MT4 No Deposit Bonus Forex Broker

MT4 is the most popular electronic platform for trading forex and CFDs. Out of the three forex brokers offering no deposit bonus, which we have tested and verified, all offer trading services on MT4. These brokers are:

  • Tickmill
  • XM
  • FBS

None of the forex brokers offer a no deposit bonus as high as $200 anymore. FBS is the only broker that still offers a no deposit bonus of up to $170.

No Deposit Forex Bonus USA

No Deposit Bonus Forex in USA is not available due to regulations. Brokers in US should be authorized by CFTC or NFA which restrict use of Bonuses as a marketing tool. However, traders can find Active Trader programs as we found in Forex.com offering, also popular broker IG from time to time may offer bonuses to new participants. Besides, the new company Trading.com proposes some conditions for newly signed traders.

Categories
Uncategorized

Best Forex Brokers Malaysia 2022

For this article, we reviewed and tested 5 forex brokers Malaysia accepting Malaysian clients. The Securities Commission of Malaysia (SCM) is the organisation tasked with regulating Forex brokers operating in Malaysia.

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 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 finally chose the best forex brokers based on the trading data collected and our experience as traders.

SCM-Licensed Forex Brokers in Malaysia

Forex brokers in Malaysia are authorised and regulated by the Securities Commission of Malaysia (SCM). SCM’s website is www.sc.com.my. We suggest that investors and traders follow the regulator on Twitter, @SecComMY, to get the latest news and updates.

In April 2018, SCM issued guidelines for Contracts for Difference (CFD) providers, including brokers offering derivatives, which came into effect on July 1, 2018. Therefore, more brokers are likely to seek a Capital Markets Services License (CMSL) from the SCM in future.

However, traders should keep in mind that being licensed by SCM is recommended but is not mandatory. In addition, the SCM allows brokers licensed in other respected jurisdictions to serve Malaysian residents.

SCM has no 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 SCM-regulated brokers:

🏦Malaysia RegulatorSecurities Commission of Malaysia (SCM)
📊Max. LeverageNo Max. Leverage
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo Negative Balance Protection
💰Compensation SchemeNo Compensation Scheme

Best Forex Brokers in Malaysia

We tested and reviewed 5 forex brokers serving Malaysian 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 Malaysia
  • AvaTrade – Best Forex Trading Platform Malaysia
  • FP Markets – Best MT4 Broker in Malaysia
  • IG – Best Forex Broker for Beginners in Malaysia
  • Interactive Brokers – Most trusted broker in Malaysia

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

Best Overall Forex Broker in Malaysia

We picked XM Group as the overall best forex broker in Malaysia. 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 Malaysia

The best Forex broker for beginners is IG due to its in-depth educational materials offered to traders 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.

Best Forex trading Platform Malaysia MT4 Broker

The best MT4 broker in Malaysia 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.

Malaysian Forex Brokers List & Review

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

Forex BrokerSCM RegulatedAbout Our TestOur Review
XM GroupN/ADeposit Amount: Over €5,000
Total Trade: 12 trades
XM Group Review
AvaTradeN/ADeposit Amount: Over €4,000
Total Trade: 12 trades
AvaTrade Review
FP Markets N/ADeposit Amount: Over €6,000
Total Trades: 12
FP Markets Review
IGN/ADeposit Amount: Over €4,000
Total Trades: 12
IG Review
Interactive BrokersYesDeposit Amount:
Over
Total Trades: 12
Interactive Brokers Review

FAQ & more on Malaysian brokers

Traders often raise questions on trading-related topics. Here we tanswer some of the most important queries associated with Malaysia Forex brokers offering trading solutions.

Best Forex Brokers for Beginners in Malaysia

IG is the best broker for beginners in Malaysia due to the detailed and well-structured educational content offered to IG clients. The broker offers easy-to-follow trading courses that are delivered using video, audio and text catering to all types of learners.

No deposit bonus forex brokers in Malaysia

XM Group is the best no deposit bonus forex broker in Malaysia, given its long-running $30 account opening bonus. Traders qualify for the bonus just by opening their accounts and not depositing funds into their accounts.

Tax in Malaysia for Forex Trading

Traders in Malaysia wonder whether Forex Trading is taxable in the country or not. Generally, forex gains are seen as general income in the country and are subject to income tax. However. there are no capital gains taxes. This means that if traders use Swap-free accounts, they are free from taxes.

Traders should be responsible for filing tax forms to the Malaysian Revenue Agency. All kinds of delays and avoidance can lead to fines and penalties.

Categories
Uncategorized

Best Forex Brokers Philippines 2022

In this article, we reviewed and tested multiple forex brokers serving traders based in the Philippines. The Securities and Exchange Commission (SEC) of the Philippines is the government authority tasked with regulating online trading, but brokers are not mandated to register with the authority.

Therefore, we compiled a list of trusted brokers licensed by tier 1 and 2 regulators globally that serve Filipino traders.

We opened a real account with each broker and deposited between $4000-$8000. Then, we placed live trades of the most popular instruments to identify the actual spreads.

We also reached out to each broker’s customer support team to resolve any issues we encountered. Lastly, we withdrew our funds to determine if the withdrawal process was smooth.

We chose the best forex brokers based on the trading data collected and our experience as traders.

SEC-Licensed Forex Brokers in the Phillipines

Forex brokers in the Philippines are authorized by the Securities and Exchange Commission (SEC) of the Philippines to operate in the country. The SEC’s website is www.sec.gov.ph. We suggest that investors and traders follow the Philippines’ SEC on Twitter, @SEC_Philipines, to get the latest news and updates.

Since it not mandatory for Forex brokers to be licensed by the Philippines SEC, we have chosen five brokers regulated by top-tier regulators, such as the UK’s FCA, who accept traders from the Philippines.

These are reputable brokers who adhere to the stringent rules set by the tier 1 and 2 regulators that license them. Furthermore, many of them offer customer deposit compensation schemes if the broker becomes insolvent.

We shall promptly update this list if the Philippines SEC makes it mandatory for Forex brokers operating in the Philippines to be locally licensed.

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

🏦The Philippines RegulatorSecurities and Exchange Commission (SEC) of the Philippines
📊Max. LeverageNo Leverage Cap
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo Negative Balance Protection
💰Compensation SchemeNo Compensation Scheme

Best Forex Brokers in the Philipines

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

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

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

Best Overall Forex Broker in the Philipines

We picked FXTM as the best overall forex broker in the Phillppines. FXTM offers the full package for a good broker and is licensed by four global regulators. The account opening is pretty straightforward, and the broker offers multiple deposit & withdrawal methods.

The spread is competitive on most popular assets and the broker has no limits on trading strategies. Furthermore, FXTM provides great educational and trading tools, including video tutorials, webinars, Autochartist and more. The broker recently added social trading apps (Myfxbook and DupliTrade).

Best Forex Broker for Beginners in the Philippines

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

Traders can learn about fundamental and technical analysis, and how to apply the same tactics in 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 Broker MT4 Forex Trading Platform in Philippines

The best MT4 forex broker in the Philippines is XM, which offers the MT4 and MT5 trading platforms. The broker does not have its own proprietary trading platform but offers the MT4 & 5 platforms from Meta Quotes.

XM offers the web version, the mobile and desktop version of the MT4 platform to Nigerian traders, one of the best forex trading apps.

Filipino Forex Brokers List & Review

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

Forex BrokerCBN RegulatedAbout Our TestOur Review
FXTMNoDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
PepperstoneNoDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
IC MarketsNoDeposit Amount: Over €5,000
Total Trades: 12
IC Markets Review
XMNoDeposit Amount: Over €5,000
Total Trades: 12
XM Review
HotForex NoDeposit Amount:
Over
Total Trades:
HotForex Review

FAQ & more on Filipino brokers

Manila Forex Brokers

At the time of writing, we could not confirm if any of our chosen brokers have offices in Manila. However, we’ll keep you posted if we get any information confirming that our top five brokers serve traders based in the Philippines.

Tax in Philippines for Forex Trading

Traders often wonder whether forex trading is subject to taxation in the Philippines. The answer is positive. The income generated from outside sources is also taxable in the country. It is usually taxed the same way as Capital gains.

It is important to remember that it is the trader’s responsibility to file tax forms to the relevant institutions of the Philippines. If traders fail to do so, they may face some fines and penalties as a result.

Categories
Uncategorized

Best Swap-Free Forex Brokers 2022

To complete this list, we have searched for forex brokers, offering swap free accounts, and tested them.

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

To find solutions to the problems we had encountered, we contacted the customer support team. Finally, to find out whether any withdrawal issues might occur, we withdrew our funds.

Based on our trading experience and data, we handpicked the best forex brokers with swap-free accounts.

What is Swap or Rollover Interest?

Rollover is the forex trading strategy under which traders hold their open positions overnight. Swap or rollover rate is the interest they have to pay or earn for carrying forward their open positions overnight.

The swap rate is basically the difference of the interest rates set by the central bank of the two currencies in the trading pair. The type of open position, long or short, will determine which currency interest rate should be substracted from which one. 

Swap benefit or swap charges completely depend on interest rate differentials.

For example, in the case of a long position on the EUR/USD pair, the swap rate can be calculated by subtracting the US dollar interest rate from the euro interest rate.

Most of the forex trading platforms will display the rollover rate of all currency pairs. Else, traders can use third-party platforms to check the rollover rates.

What is Swap Free Forex Trading Account?

Swap free accounts enable forex traders to take overnight positions on currency pairs without any possibility of earning or paying interest. 

Traders pay the brokers a specific commission to hold positions overnight. This is swap, which can be positive or negative, depending on the ongoing price of the traded asset. 

Forex Swap Free Accounts are available to traders in the case the broker offers accounts free of swaps and any kind of adjustments.

No Swap Forex Account Brokers

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

Best Overall Swap-Free Forex Broker

We have picked Pepperstone as the best overall swap-free forex broker.

Pepperstone is a versatile broker with excellent services. It offers a total of 158 trading instruments in markets across forex, indices, stocks, commodities, and cryptocurrencies. The trading platforms offered by the broker are MT4, MT5, and cTrader.

It primarily offers two account types (excluding the swap-free account) to retail traders and supports an array of base currencies. Additionally, it offers raw market spreads with minimum trading and non-trading fees.

Best Swap-Free Broker for Beginners

We have picked AvaTrade as the best swap-free broker for beginners.

AvaTrade is an excellent forex broker when it comes to beginner-friendly services. It offers good educational resources to train new brokers about the forex market and trading techniques. It even offers a demo account to the traders that allow them to execute trades and learn without risking their real money.

AvaTrade has no limits in trading strategies and also offers copy trading services, which allows novice traders to copy the exact strategy and positions of experts to potentially earn profits when learning about trading.

Best Swap-Free High Leverage Forex Broker

We have picked Dukascopy as the best swap-free high leverage broker.

When it comes to offering high leverage, there are only a few well-regulated brokers: Dukascopy is one of them. The broker is regulated by FINMA that offers leverage of up to 100:1 on major currency pairs.

Dukascopy offers trading with forex, stocks, indices, commodities, and cryptocurrencies, and lists a total of 750 instruments. It offers services on two platforms: MT4 and JForex. It also has some of the lowest spreads in the industry as our tests found that the average spread on the EUR/USD pair is only 0.8 pips.

Best MT4 Swap-Free Forex Broker

We have picked Amana Capital as the best MT4 swap-free forex broker.

Amana Capital holds multiple regulatory licenses and operates globally. It is considered an excellent broker for those Muslim traders who want to trade on MT4 with a swap-free account. Like many other brokers, it offers trading services on MT4. Yet, it also offers the latest MT5 platform.

The primary trading platform of the trader is MT4, thus most of its additional tools and features are included on this platform. MT4 is available to the clients on web, desktop and mobile devices.

Amana Capital is regulated in the UK, Cyprus, UAE, Lebanon, Malaysia, and Mauritius. It offers services with forex, and CFDs of indices, stocks, commodities, and cryptocurrencies.

Best Swap-Free Forex Broker with Low Spread and Fees

We have picked Go Markets as the best swap-free forex broker with low spread and fees.

Go Markets stands out when it comes to the top forex and CFDs brokers. It offers over 378 trading instruments. Among them are forex pairs and CFDs of indices, metals, commodities, and shares.

GO Markets is one of the best zero spread brokers. Traders can choose from three main account types: Standard, GO Plus+, and Pro. For Standard accounts spread is from 1 pip, yet it does not have any commission. On the contrary, GO Plus+ and Pro accounts have spread from zero with an added commission for each transaction.

Swap-Free Forex Brokers List

Apart from the shortlisted brokers, here is a complete list of forex brokers that offer swap-free accounts, which we have tested and reviewed.

Forex BrokerSwap-Free AccountTest DetailsBroker Review
FxProYes
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsYesDeposit Amount: Over €4,000
Total Trade: 12 trades
Visit BlackBull Markets
GO MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillYesDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
XTBYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)YesDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSYesDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsYesDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
Vantage FXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXYesDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review

FAQ and More on Swap-Free Brokers

When it comes to generic trading-related queries, traders often seem to have many questions. We chose some of the most important queries related to swap-free forex brokers and tried to give accurate answers to them.

Swap-Free Forex Broker in Australia

Many Australian forex brokers, which are regulated by the Australian Securities and Investments Commission (ASIC), offer swap-free Islamic forex trading accounts. Some of the leading Aussie brokers offering swap-free accounts are:

  • IC Markets
  • ThinkMarkets
  • vantage FX

MT4 Swap-Free Forex Brokers

MT4 platform dominates the forex and CFDs trading and most of the brokers offer trading services on this platform. Some of the reputed MT4 forex brokers offering swap-free accounts are:

  • AxiTrader
  • XM
  • Amana Capital

Swap-Free Forex Brokers with High Leverage

There are only a few well-regulated forex brokers offering high leverage on currency pairs. Some of the FINMA or FMA regulated forex brokers offering swap-free accounts are:

  • BlackBull Markets
  • Dukascopy
  • Swissquote
  • Saxo Markets

Swap-Free Forex Broker USA

OANDA is one of the best swap-free forex brokers in the USA. Their swap-free accounts allow the traders to take a position on over 26 instruments. Maximum trade size is 10 million. Moreover, the broker does not charge commission fees. OANDA allows hedging, scalping and EAs.

Categories
Uncategorized

Best Forex Brokers with ZAR Account 2022

For this list, we have searched and tested several forex brokers offering ZAR accounts.

We opened real accounts and deposited real money each of the brokers. We placed real trades in each popular market to get the real spreads.

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

We handpick the best forex brokers offering accounts based on our trading data and experience as a trader.

What is a ZAR Account?

ZAR account enables forex traders to trade with the South African local currency, rand, as the base currency.

South African rand, with ISO code ZAR, is the national currency of South Africa. Rand was adopted as the country’s currency in 1961 after the replacement of the South African pound. ZAR is also recognized as a legal tender in Namibia, Swaziland, and Zimbabwe.

Forex brokers operating in South Africa need to provide forex traders trading account with ZAR as the base currency.

The use of a local currency, instead of a USD or EUR account, protects the traders’ profits from the risk of currency fluctuation when they are converted into local fiat. Additionally, traders can avoid unnecessary forex conversion fees.

Benefits of using local fiat as the base currency:

  • No forex conversion charges
  • Faster deposits and withdrawals
  • Traders can avoid slippage
  • Calculation of net profit is easy

South African forex brokers are regulated by the Financial Sector Conduct Authority (FSCA), formerly known as the Financial Services Board (FSB). All forex brokers offering services with an FSCA license need to provide ZAR trading accounts. However, many well-reputed foreign brokers also offer ZAR accounts.

The FSCA-regulated brokers can offer leverage up to 500:1. However, the regulator does not offer any negative balance protection or any compensation scheme.

ZAR Account Forex Brokers

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

  • ThinkMarkets – Best Overall Broker Offering ZAR Account
  • XM – Best Forex Broker Offering ZAR Account for Beginners
  • Markets.com – Best Forex Trading Platform Offering ZAR Account
  •  ETX Capital – Best MT4 Forex Broker Offering ZAR Account
  • HotForex – Best High Leverage Forex Broker Offering ZAR Account

Best Overall Broker Offering ZAR Account

We have picked ThinkMarkets as the best overall broker offering ZAR account.

ThinkMarkets is an Australian broker operating in South Africa with an FSCA license. The broker also holds licenses from the regulators of Australia, the United Kingdom, and Seychelles.

ThinkMarkets offers trading services with forex, indices, stocks, commodities, and cryptocurrencies. It lists over 1,600 trading instruments on MT4, MT5, and ThinkTrader trading platforms. The broker also offers very attractive spreads for all asset classes (based on our tests) and has some of the lowest non-trading fees.

Best Forex Broker Offering ZAR Account for Beginners

We have picked XM as the best forex broker offering ZAR account for beginners.

XM is not regulated in South Africa but offers a ZAR account. It is regulated in the UK, Cyprus, Australia, UAE, and Belize. For beginner traders, XM is the perfect broker because of its wide range of educational resources. Traders on XM can learn about the forex market and trading strategies and then trade using the ZAR demo account without risking real money.

XM offers a total of 1,336 trading instruments that include currency pairs and CFDs. It also offers real stock trading services under the Belize-regulated entity.

Best Forex Trading Platform Offering ZAR Account

We have picked Markets.com as the best forex trading platform offering ZAR account.

Markets.com operates in South Africa using a license obtained from the FSCA. It is an excellent option for trading forex. It offers 120 currency pairs, along with several CFDs instruments of commodities, indices, and stocks.

The broker offers trading services on MT4 and MT5 platforms without any limitations on trading strategies. Traders hedge their positions and run scalping as well. It is a good broker if traders want to run EAs.

Best MT4 Forex Broker Offering ZAR Account

We have picked Markets.com as the best MT4 forex broker offering ZAR account.

ETX Capital, which is headquartered in London, offers trading services using MT4 and its proprietary platform, ETX TraderPro. MT4, being an extremely popular platform, is widely used and preferred by traders. It offers some excellent indicators and market analysis tools on the MT4 platform.

Though ETX offered a ZAR account for a while now, it recently gained an FSCA license for smooth operations in South Africa.

Best High Leverage Forex Broker Offering ZAR Account

We have picked HotForex as the best high leverage forex broker offering ZAR account.

FSCA allows forex brokers to offer leverage up to 500:1, HotForex offers even higher leverage levels. The broker, under its Seychelles branch, offers leverage of up to 1000:1 on major currency pairs. It also offers a ZAR account, which is perfect for South African traders.

The broker offers trading with currency pairs and CFDs. It recently added direct market access for stocks and offers trading on MT4 and MT5 platforms.

Account Forex Brokers with ZAR Base Currency List

Apart from the shortlisted brokers, here is a complete list of forex brokers that offers ZAR accounts and ZAR as a base currency:

Forex BrokerZAR AccountBroker Review
Plus500YesVisit Plus500
XMYesVisit XM
PepperstoneYesVisit Pepperstone
FxProYesVisit FxPro
Markets.comYesVisit Markets.com
Amana CapitalYesVisit Amana Capital
ThinkMarketsYesVisit ThinkMarkets
BlackBull MarketsYesVisit BlackBull Markets
DukascopyYesVisit Dukascopy
ETX CapitalYesVisit ETX Capital
Saxo BankYesVisit Saxo Markets
Fineco BankYesVisit Fineco Bank
Trade NationYesVisit Trade Nation
IG MarketsYesVisit IG Markets
HotForexYesVisit HotForex
ExnessYesVisit Exness

FAQ and More on Brokers offering ZAR Account

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

FSCA-Regulated Forex Brokers offering ZAR Account

FSCA regulates the forex brokers operating in South Africa. Some of the FSCA-regulated forex brokers offering ZAR accounts are:

  • Plus500
  • IG Markets
  • Markets.com
  • FxPro

MT4 Forex Brokers offering ZAR Account

MetaQuotes Software-developed MT4 is a very popular platform for trading forex and CFDs. It has a vast community of traders offering EAs and supports the creation of trading scripts and robots using MLQ4 language.

Some of the best MT4 forex trading platforms offering ZAR account are:

  • ThinkMarkets
  • Dukascopy
  • BlackBull Markets

Low Spread Forex Brokers offering ZAR Accounts

Spread is a business-making or breaking factor for forex brokers. With the rising competition, many forex brokers started offering very low spreads to attract traders on their platforms. Some of the low spread forex brokers offering ZAR account are:

  • Pepperstone
  • IG Markets
  • Plus500