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Best MT5 Forex Brokers 2022

For this list, we have searched and tested several forex brokers offering trading on MT5 trading platform.

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 MT5 forex brokers based on our trading data and experience as a trader.

What is MT5 Trading Platform?

MetaTrader 5 or MT5 is an electronic trading platform developed by MetaQuotes Software. The platform was launched in 2010 and is the successor of the widely popular MetaTrader 4 (MT4) platform.

The aesthetics of the MT5 is almost the same as the predecessor, but it comes with a ton of new features. MT5 brings all the features of MT4 and adds a lot more.

MT4 vs MT5

While MT4 only supported forex and CFDs trading, MT5 extended this support to futures and stocks as well. MT5 also adds market depth, providing a better understanding of quotes and transaction volumes.

MT5 supports 6 order types (a couple more than MT4) and has a wide set of analytical tools and indicators. Traders can also download additional indicators from the library.

MT5 uses user-friendly MLQ5 language for the creation of trading scripts and robots. But, the biggest drawback of the MT5 is the lack of compatibility with the Expert Advisors of MT4.

Despite the functional superiority of MT5, the predecessor MT4 still dominates the forex and CFDs trading. MetaQuotes Software has now stopped issuing new MT4 licenses and is pushing for the adoption of MT5.

Key features of MT5 trading platform:

📈Trading InstrumentsForex, CFDs, Futures, Stocks
⏱Timeframes21
🛃Pending Orders6 Types (Buy Stop, Buy Limit, Sell Limit, Sell Stop, Stop Limit, Sell-Stop Limit)
📊HedgingHedging and Netting
🔎Technical Analysis Tool38
📑Market DepthYes
💷Economic CalendarYes
💰Order Execution Type4
📊Graphical Objects44
📈Strategy TesterMulti-Threaded
💰Fund Transfer Between AccountsYes
👨‍💻Programming LanguageMLQ5

Best MT5 Forex Brokers

To select the best MT5 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.

  • FP Markets – Best Overall MT5 Broker
  • Go Markets – Best MT5 Broker for Beginners
  • Swissquote – Best MT5 High Leverage Forex Broker
  • FXTM – Best MT5 Forex Trading Platform
  • ActivTrades – Best MT5 Broker with Low Spread and Fees

Best Overall MT5 Broker

We have picked FP Markets as the best overall MT5 broker.

FP Markets is headquartered in Australia and offers trading services with forex, indices, stocks, commodities, and cryptocurrencies. It offers a total of 9018 trading instruments and provides direct access to the stock exchange.

FP Markets is licensed in Cyprus, Australia, and St Vincent and the Grenadines and is a reputed broker. The broker charges less than average spreads, and other trading and non-trading fees are also on the lower side.

Apart from MT5, the broker also offers MT4 and IRESS trading platforms. It has a good collection of indicators and market research tools as well.

Best MT5 Broker for Beginners

We have picked Go Markets as the best MT5 broker for beginners.

Go Markets is another Australian forex and CFDs broker that is suitable for beginner traders for its wide range of learning resources. Its tutorials range from basic forex market guides to trading platform explainers.

Go Markets offer trading of forex, indices, metals, stocks, and commodities on top trading platforms: MT4 and MT5. It offers a total of 378 trading instruments with spreads lower than the industry average.

Best MT5 High Leverage Forex Broker

We have picked Swissquote as the best MT4 high leverage broker.

Swissquote is a FINMA regulated broker and offers high leverage of up to 100:1 on major currency pairs. Its offerings range from forex to stocks, options, and futures.

Swissquote offers trading on the MT5 platform and also on MT4. It equips traders with several key indicators and useful market analysis tools.

Best MT5 Forex Trading Platform

We have picked FXTM as the best MT5 forex trading platform.

FXTM is regulated in the UK, Cyprus, South Africa, and Mauritius. This broker offers 62 currency pairs with no limitations in trading strategies. Apart from forex, FXTM also offers trading with CFDs of indices, commodities, stocks, and cryptocurrencies.

FXTM offers trading on MT4 and MT5, along with its proprietary FXTM Trader. It is one of the best brokers for traders who want to trade forex and run strategies like scalping and use EA.

Best MT5 Broker with Low Spread and Fees

We have picked ActivTrades as the best MT5 broker with low spread and fees.

ActivTrades is a London-headquartered broker and offers very attractive spreads. According to our tests, the average spreads for EUR/USD pair on the broker is only 0.57 pips, which is less than half when compared with the industry average of 1.6 pips. And the lower than average spreads offering continues for other asset classes as well.

It also has minimum non-trading fees.

ActivTrades offers trading on MT4, MT5, and ActivTrader platforms. It offers one simple account type and traders can choose from any of the three trading platforms.

MT5 Forex Brokers List

Apart from the shortlisted brokers, here is a complete list of forex brokers that are well-regulated and offers trading on the MT5 platform, which we have tested and reviewed.

Forex BrokerMT4 PlatformMT5 PlatformTest DetailsBroker Review
FxProYesYes
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsYesYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsYesYesDeposit Amount: Over €4,000
Total Trade: 12 trades
Visit BlackBull Markets
GO MarketsYesYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMYesYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillYesYesDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Capital.comYesNoDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)YesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneYesYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS 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
FP MarketsYesYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalYesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeYesYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
CMC MarketsYesNoDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
Vantage FXYesYesDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXYesYesDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review

FAQ and More on MT5 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 MT5 forex brokers.

MT5 Forex Broker in the US

All forex brokers should be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA). Unfortunately, none of the regulated forex brokers in the US are offering trading on the MT5 platform.

Though many offshore forex brokers are offering services to US residents on the MT5 platform, we highly recommend traders not open accounts with such brokers.

MT5 Forex Broker in South Africa

Forex brokers in South Africa need to be registered and authorized by the Financial Sector Conduct Authority (FSCA). Some of the regulated South African forex brokers offering trading services on MT5 are:

  • FXPro
  • AvaTrade
  • ThinkMarkets
  • INFINOX
  • Tickmill

MT5 Forex Brokers

MT5 is slowly becoming a popular trading platform to trade forex. Apart from forex the platforms also support trading with CFDs, stocks, and futures. Some of the well-regulated forex brokers offering trading on MT5 are:

  • Pepperstone
  • IC Markets
  • Go Markets
  • FP Markets

MT5 Crypto Brokers

Traders can trade cryptocurrencies on the MT5 trading platform. However, it is to be noted that these are crypto CFDs, and the trader never owns the underlying crypto assets. Some of the crypto brokers offering trading on the MT5 platform are:

  • Dukascopy
  • ThinkMarkets
  • FP Markets

MT5 Forex Brokers with High Leverage

Leverage is a key in trading forex, but only a few good regulators are now allowing brokers to offer the high leverage. Two of these regulators offering high leverage are New Zealand’s FMA and Switzerland’s FINMA. Some of the high-leverage MT4 brokers are:

  • BlackBull Markets
  • Dukascopy
  • Swisquotes
Categories
Uncategorized

Best MT4 Forex Brokers 2022

For this list, we have searched and tested several forex brokers offering trading on MT4 trading platform.

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 MT4 forex brokers based on our trading data and experience as a trader.

What is MetaTrader 4 MT4 Trading Platform?

MetaTrader 4 or MT4 is a popular electronic trading platform used for trading forex and contract for differences (CFDs). MetaQuotes Software developed the platform and launched it in 2005.

The MT4 platform gained massive popularity among traders as it allowed them to run trading scripts and robots for trading automation. It also allows both client and server components, meaning the platform has been built for both traders and brokers.

It has become the leading fx trading platform and is offered by almost all brokers (except Japanese brokers).

MT4 clients are available on the web, desktop, and mobile devices.

MetaQuotes have also launched MetaTrader 5, which is the updated version of MT4. Despite many additional features, the new platform failed to get the attention of both traders and brokers.

MetaQuotes licenses MT4 trading platform to brokers, but the company stopped the platform from January 2018 to promote the newer MT5.

Key features of MT4 trading platform:

📈Trading InstrumentsForex and CFDs
🕐Timeframes9
🔜Pending Orders4 Types (Buy Stop, Buy Limit, Sell Limit, Sell Stop)
📊HedgingOnly Hedging
🔎Technical Analysis Tool30
📑Market DepthNo
🗓Economic CalendarNo
💰Order Execution Type3
📊Graphical Objects31
🖥Strategy TesterSingle-Threaded
💳Fund Transfer Between AccountsNo
💻Programming LanguageMLQ4

Best MT4 Forex Brokers

To select the best MT4 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 MT4 Broker

We have picked IC Markets as the best overall MT4 broker.

IC Markets is a Sydney-headquartered broker holding licenses from the regulators in Australia, Cyprus, Seychelles, and the Bahamas. It is a very popular broker around the globe due to its versatile offerings.

IC Markets offers services on three trading platforms – MT4, MT5, and cTrader – MT4 being the most popular among forex and CFDs traders. It provides services with trading instruments of forex and CFDs of indices, stocks, commodities, and cryptocurrencies.

The broker also offers an array of indicators and market research tools on its MetaTrader platform.

Best MT4 Broker for Beginners

We have picked XM as the best MT4 broker for beginners.

XM is another multi-regulated broker offering trading services in many countries. It is licensed in Australia, the United Kingdom, Cyprus, the UAE, and Belize. It offers two trading platforms: MT4 and MT5.

When comes to beginner-friendly broker, XM aces with its vast educational resources. It offers in-depth guides and videos on the forex market and trading techniques. It also conducts regular webinars to educate new traders.

Best MT4 High Leverage Forex Broker

We have picked BlackBull Markets as the best MT4 high leverage broker.

BlackBull Markets was founded in 2014 and is headquartered in New Zealand. It is regulated by New Zealand’s FMA, which is one of the few reputed regulators allowing brokers to offer leverage as high as 500:1.

BlackBull offers trading services on both MT4 and MT5 platforms, two of the industry-leading platforms developed by MetaQuotes Software. It is regulated by FMA in New Zealand and FSA in Seychelles that offer a maximum leverage of 500:1 and 300:1, respectively.

Best Forex MetaTrader 4 Platform

We have picked FxPro as the best MT4 forex trading platform.

FxPro offers excellent services when it comes to forex trading, but also offers CFDs of indices, stocks, commodities, and cryptocurrencies. The broker was established in 2006 and is regulated in the UK, Cyprus, South Africa, and the Bahamas.

FxPro offers forex trading with 70 currency pairs, which is more than many other good forex brokers. Combining the CFDs of other asset classes, the broker offers trading with 234 instruments. FxPro offers multiple trading platforms, but forex trading is usually done on MT4.

Best MT4 Broker with Low Spread and Fees

We have picked Admiral Markets as the best MT4 broker with low spread and fees.

Admiral Markets is regulated in the UK, Cyprus, Australia, and Estonia and offers trading on MT4 and MT5 platforms. When it comes to spreads and trading fees, Admiral Markets is one of the best.

Our testing found that the average spread on the EUR/USD pair is only 0.6 pips, while the industry average is 1.6 pips. Spreads on the popular instruments of other asset classes are also much lower than the industry average. The broker also provides raw spreads with certain account types, but charges commission on those.

MT4 Forex Brokers List

Apart from the shortlisted brokers, here is a complete list of forex brokers that are well-regulated and offers trading on the MT4 platform, which we have tested and reviewed.

Forex BrokerMT4 PlatformTest 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
Capital.comYesDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com 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
CMC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets 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 MT4 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 MT4 forex brokers.

MT4 Forex Broker in India

Financial service providers in India are regulated by the Securities and Exchange Board of India (SEBI). But forex brokers in the country are loosely regulated, allowing many offshore brokers to operate without SEBI’s authorization.

Some of the Indian MT4 forex brokers are:

  • FBS
  • FP Markets
  • IG Markets
  • XM

MT4 Forex Broker in the US

All forex brokers should be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA).

Forex brokers in the US that offer MT4 platform are:

  • IG (US)
  • Forex.com

MT4 ECN Forex Broker

ECN brokers directly connect buyers and sellers to a bridge network, allowing them to send quotes and trade without the involvement of a third party. Though tradings on an ECN broker can get zero spread, these brokers charges commission on the execution of each trade.

Some of the MT4 ECN brokers are:

  • FXTM
  • Vantage FX
  • INFINOX

MT4 Binary Options Brokers

A binary option is a controversial financial instrument that pays a fixed amount for correct prediction on the movement of a currency pair or CFDs instrument. As the name suggests, the broker will pay only if the prediction is correct, else the trader will lose all the capital put for the trade.

Most of the regulated binary options brokers are no longer offering trading services on MT4.

MT4 Forex Brokers with High Leverage

Leverage is a key in trading forex, but only a few good regulators are now allowing brokers to offer the high leverage. Two of these regulators offering high leverage are New Zealand’s FMA and Switzerland’s FINMA.

Some of the high-leverage MT4 forex brokers are:

  • BlackBull Markets
  • Dukascopy
  • CMC Markets
Categories
Uncategorized

Best High Leverage Forex Brokers 2022

For this list, we have searched and tested several forex brokers offering trading with high leverage.

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 high leverage forex brokers based on our trading data and experience as a trader.

What is Leverage in Forex Trading?

Leverage is the borrowed money by a trader for making investments in a trading instrument. The money is usually borrowed from the broker and is in proportion to the available capital with the trader.

Leverage is a key aspect in trading as it allows traders to take a much higher position, increasing the profit potential significantly. However, it also increases the risk of losing all funds if the market moves in the opposite direction.

The aspect of borrowing from the broker is called margin trading, in which the trader can build up a huge amount with some mandatory initial margin.

Margin-Based Leverage = Total Value of Transaction / Margin Required

For example, with an offering of 100:1 leverage, the trader only needs an initial margin of $1,000 to buy one standard lot of a currency pair worth $100,000. It means the trader only needs 1% of the capital required to take a position.

Leverage LevelMargin Required
🏅 50:12%
🥉 100:11%
🥈 200:10.5%
🥇 400:10.25%

Forex Trading Leverage

Forex trading is particularly popular over other markets because of the availability of high leverage for trading.

But, the higher the leverage level, the higher the risk too. If a trader is using 100:1 leverage to take a long position, the entire capital will be lost if the market goes down by only 1%. For 400:1 leverage, an opposite swing of only 0.25% is needed to lose all funds.

Regulators Allowing High Leverage

High leverage levels remain very popular among traders. However, retail traders usually ignore the risks of taking positions with high leverage and often end up losing money in trading.

These losses incurred by the retail trades alerted the regulators, and many reputed regulators have put a limit on the maximum leverage offered by the brokers over the past few years. 

For instance, the Australian Securities and Investments Commission (ASIC), which before allowed up to 500:1 leverage for major currency pairs, has put a limit at 30:1. The European Securities and Markets Authority (ESMA) also updated its regulatory guidelines to limit the leverage at 30:1.

Though it is easy to find offshore brokers with high leverage levels, many reputed regulators still allow brokers to offer high margin leverage to traders.

Some of the reputed regulators allowing high leverage levels are:

  • Swiss Financial Market Supervisory Authority (FINMA) – Switzerland
  • Financial Markets Authority (FMA) – New Zealand
  • Financial Supervision Commission (KNF) – Poland

High Leverage Forex Brokers

To select the best high leverage 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.

  • CMC Markets – Best Overall High Leverage Broker
  • IG Markets – Best High Leverage Broker for Beginners
  • BlackBull Markets – Best MT4 High Leverage Forex Broker
  • Saxo Markets – Best High Leverage Forex Trading Platform
  • Dukascopy – Best High Leverage Broker with Low Spread and Fees

All these brokers are regulated in multiple jurisdictions. To receive high leverage, traders need to open accounts under the relevant entity that is regulated by the regulator allowing high leverage.

Best Overall High Leverage Broker

We have picked CMC Markets as the best overall high leverage broker.

CMC Markets is headquartered in London and is regulated in the UK, Germany, Australia, Singapore, New Zealand, Canada, and the UAE. Traders on-boarded only under the New Zealand-based entity of CMC can receive leverage of up to 500:1.

CMC offers trading in a wide range of markets that include forex, indices, stocks, commodities, and cryptocurrencies. It has some of the lowest trading and non-trading fees and has no limitations in the application of trading strategies.

Under the FMA, the broker offers 500:1 leverage on all currency pairs and also indices. Commodities and stock CFDs receive maximum leverage of up to 200:1 and 20:1, respectively.

Best High Leverage Broker for Beginners

We have picked IG Markets as the best high leverage broker for beginners.

IG has an extensive offering of educational materials relating to both the forex market and trading, making it the best platform for traders to start with. It is highly regulated and offers trading with forex, stocks, commodities, and many more.

IG is regulated by FINMA, which means traders under the broker’s Swiss entity can receive high leverage levels.

Best MT4 High Leverage Forex Broker

We have picked BlackBull Markets as the best MT4 high leverage broker.

BlackBull Markets is a New Zealand-based forex and CFDs broker and was founded in 2014. It made a good reputation in the trading industry in a short period and offers trading services with almost 300 instruments.

BlackBull offers trading services on both MT4 and MT5 platforms, two of the industry-leading platforms developed by MetaQuotes Software. It is regulated by FMA in New Zealand and FSA in Seychelles that offer a maximum leverage of 500:1 and 300:1, respectively.

Best High Leverage Forex Trading Platform

We have picked Saxo Markets as the best high leverage forex trading platform.

When it comes only to forex trading, Saxo Markets is an excellent choice for traders looking for high leverage. It is a Danish broker but holds a license from Switzerland’s FINMA, which allows the broker leverage up to 100:1.

It offers more than 180 currency pairs for trading and lists other popular assets like cryptocurrencies and commodities. 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.

Best High Leverage Broker with Low Spread and Fees

We have picked Dukascopy as the best high leverage broker with low spread and fees.

Dukascopy is an excellent broker when it comes to fees. Our tests found that the broker charges an average spread of around 0.8 pips on the EUR/USD pair, which is much lower than the industry standard average of 1.6 pips. It offers an ECN trading account, along with an MT4 one, and usually charges a commission for trade executions.

Dukascopy is regulated by FINMA that offers leverage of up to 100:1 on major currency pairs.

High Leverage Forex Brokers List

Apart from the shortlisted high leverage brokers, here is a complete list of forex brokers that are well-regulated and offers high leverage levels, which we have tested and reviewed.

Forex BrokerFINMA RegulatedFMA RegulatedVisit Broker
IG MarketsYesYesVisit IG Markets
CMC MarketsNoYesVisit CMC Markets
BlackBull MarketsNoYesVisit BlackBull Markets
DukascopyYesNoVisit Dukascopy
Saxo MarketsYesNoVisit Saxo Markets
SwissquoteYesNoVisit Swissquote

FAQ and More on High Leverage 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 offering high leverage.

US Forex Broker with High Leverage

All forex brokers should be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA). Regulated US brokers can offer leverage up to 50:1.

Though many offshore forex brokers onboard US clients offering high leverage, we strongly recommend US traders not to open an account with such brokers as they are operating illegally.

UK Forex Broker with High Leverage

Forex brokers in UK are regulated by the Financial Conduct Authority (FCA), which is one of the top financial markets regulators. The FCA, however, only allows brokerages to offers leverages up to 30:1.

We highly recommend traders not to open any account with any offshore broker offering high leverage to UK traders.

Forex Brokers with 1:500 Leverage

There are many brokers offering leverage up to 500:1. Though many offshore regulators offer such high leverage, New Zealand’s FMA is one of the few reputed regulators offering 500:1 maximum leverage.

Some of the forex brokers with 1:500 leverage are:

  • BlackBull Markets
  • CMC Markets 

MT4 High Leverage Forex Brokers

MetaTrader 4 or MT4 trading platform is the most popular for trading forex and CFDs. The likeness of the platform among traders also prompted most of the brokers to offer trading services on MT4.

Some of the well-regulated MT4 brokers offering high leverage are: 

  • CMC Markets
  • BlackBull Markets
  • Saxo Bank
Categories
Uncategorized

Best Zero Spread Forex Brokers 2022

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

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 brokers offering zero spreads based on our trading data and experience as a trader.

What is a Spread in Forex Trading?

Spread is the difference between the bid and ask price on a brokerage platform. It is one of the primary ways for the brokers to many money.

But, with the rising competition in the brokerage business trading costs went down significantly. Many brokers are offering even zero spreads, meaning there is no difference between the bid and ask price, to win over clients.

Zero spreads decrease the trading costs in one way, but it does not mean the overall trading costs will decrease as well.

What is a Zero Spread Account?

Many forex brokers are offering specific zero spread accounts to traders. Traders signed up for these accounts do not have to pay any fees as spreads, but usually have to pay commission for executing trades.

Low Spread Forex Brokers

While some brokers do not offer zero spread accounts, they still provide very low or zero spreads to traders.

However, traders have to be careful as many brokers falsely market offering zero spreads, but in reality, they charge wide spreads to new brokers.

Advantages of zero spreads accounts:

  • Easy calculation of trading costs
  • Easier to enter and exit trades without worrying about overhead costs
  • Eliminates the chances of sudden widening of spreads on trades

Some of the key highlights of trading with zero spread account:

🏦 SpreadFrom zero
📊 CommissionYes
🛡️ Trading StrategyDepends on the broker

Best 0 pip Spread Forex Brokers

To select the best zero 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.

  • Tickmill – Best Overall Zero Spread Broker
  • XM – Best Zero Spread Broker for Beginners
  • Vantage FX – Best MT4 Zero Spread Forex Broker
  • Libertex – Best Zero Spread Forex Trading Platform
  • FBS – Best High Leverage Zero Spread Forex Broker

Best Overall Zero Spread Broker

We have picked Tickmill as the best overall zero spread broker.

Tickmill is headquartered in London and offers the best trading services when it comes to low and zero spreads. The broker offers three types of accounts – classic, pro, and VIP – and two of them are zero-spread accounts. It also offers transparent pricing and charges commissions on trades executed from pro and VIP accounts, which offer zero spreads.

Tickmill offers trading with forex, indices, commodities, and cryptocurrencies and lists a total of 85 trading instruments. The broker also has minimum non-trading fees and does not charge for deposits and withdrawals.

Best Zero Spread Broker for Beginners

We have picked XM as the best zero spread broker for beginners.

XM is a well-regulated broker holding licenses in the UK, Cyprus, Australia, UAE, and Belize. It is one of the few brokerages offering zero spread accounts and offers trading services with forex and CFDs of indices, stocks, and commodities.

XM is the perfect platform for beginners because of its vast educational resources and offering of two industry-standard trading platforms: MT4 and MT5. It also offers a demo account to beginner traders to execute trades without risking real money.

Best MT4 Zero Spread Forex Broker

We have picked Vantage FX as the best MT4 zero spread broker.

Vantage FX, an Australia-headquartered broker, offers zero spreads under its raw ECN account. It is one of the few brokers offering true ECN account.

Vantage offers trading services with forex and CFDs of indices, stocks, commodities, and cryptocurrencies. It offers two trading platforms: MT4 and MT5. Most of the traders use the MT4 forex trading platform for executing trades, and the broker is also very focused on updating its indicators and market research tools on the legacy platform.

Best Zero Spread Forex Trading Platform

We have picked Libertex as the best zero spread forex trading platform.

Cyprus-headquartered Libertex was established in 1997 and has a solid reputation in the forex trading market. The broker aces as one of the best forex trading platforms with 51 currency pair offerings, along with trading instruments of indices, stocks, commodities, and cryptocurrencies.

Libertex allows traders to run all trading strategies, including hedging and scalping, and the availability of zero spread further sweetens its offerings.

Best High Leverage Zero Spread Forex Broker

We have picked FBS as the best high-leverage zero spread broker.

Leverage levels offered by any brokerage depend on the regulatory restrictions. FBS, which is regulated in Australia, Belize, and Cyprus, is one of the few brokers that offer high leverage on zero spread accounts.

Though both Cypriot and the Australian regulators limit maximum leverage at 30:1, FBS offers leverage up to 888:1 on major currency pairs under its Belize-regulated entity. FBS is also a true ECN broker and offers ECN and zero-spread accounts separately.

Zero-Spread Forex Brokers List

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

Forex BrokerZero Spread AccountZero SpreadCommission Per SideVisit Broker
TickmillYesYes$2Visit Tickmill
XMYesYes$3.5Visit XM
FBSYesYes$10Visit FBS
Admiral MarketsYesNo$1.8-$3.0 per lotVisit Admiral Markets
ThinkMarketsYesNo$3.5Visit ThinkMarkets
GKFXYesNo$10 per lotVisit GKFX
ICM CapitalYesNo$7/Round lot for FX and Metal only – No commission is charged for all other productsVisit ICM Capital
Fusion MarketsYesNoFrom $4.50 per round turnVisit Fusion Markets
HotForexYesNo$3Visit HotForex
Vantage FXNoYes$3Visit Vantage FX
LibertexNoYesFrom 0.03%Visit Libertex
EightcapNoYes$3.5Visit Eightcap
BDSwissNoYes$5Visit BDSwiss

FAQ and More on Zero Spread 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 offering zero spreads.

How to Verify a Zero Spread Broker?

Many forex brokers claim that they are offering zero spread accounts. However, in reality, they charge spread even on the dedicated zero spread accounts, along with the usual commission.

But it is possible to verify if a broker is offering zero spread services or not. Traders need to open multiple small trading positions and check if there is any difference between the bid and ask price. If the zero spread trend continues for the multiple trades and on multiple instruments, then it is likely that the broker is indeed offering zero spreads.

Zero Spread Forex Broker in India

To operate locally as a forex broker in India, brokers need to be registered and authorized with the Securities and Exchange Board of India (SEBI). But the country does not have any strict forex brokerage regulatory framework like the United States or the United Kingdom, thus allowing overseas brokers to offer services to Indians.

Some zero-spread forex brokers in India are:

  • FBS
  • Tickmill
  • XM

Zero Spread Forex Broker in South Africa

To operate in South Africa, forex brokers need to be licensed by the Financial Sector Conduct Authority (FSCA).

Some of the zero spread forex brokers in South Africa are:

  • Tickmill
  • ThinkMarkets

MT4 Zero Spread Brokers

MT4, developed by MetaQuotes Software, is the top trading platform for the forex and CFDs. Some of the zero spread forex brokers offering trading services on MT4 are:

  • ICM Capital
  • BDSwiss
  • HotForex 

No Spread No Commission Forex Brokers

Though zero spreads forex brokers are desirable, they usually charge commission on each trade. But some brokers are now offering low spreads and also not charging any commission on trade executions.

Some of the low spread no commission forex brokers are:

  • ActivTrades
  • Plus500
  • OANDA
  • Admiral Markets
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Best Forex Copy Trading Platform 2022

For this list, we have searched and tested several forex brokers offering copy trading services.

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 copy trading brokers based on our trading data and experience as a trader.

What is Copy Trading?

Copy trading allows one trader to copy the broadcasted positions of another trader, who usually has a proven track record in trading. The copied parameters include opening and closing of positions, assigning Stop Loss and Take Profit orders.

Forex social trading

It evolved from the so-called social trading where expert traders share their trading strategies in chatrooms with fellow traders. Though copy trading can be executed manually, most of the activities are automated.

Copy Trading strategies

The popularity of copy trading skyrocketed over the past few years. This technique of trading usually lures rookie traders to copy the trading strategy and positions of other expert traders to earn from the trading activity.

Traders always have the option to opt out from coping strateies at any time by closing all positions or takkng control over the trading activities.

Copied traders also get benefits as their techniques are copied. Different brokers have different strategies rewarding the copied traders. Mostly, they earn a percentage of the capital assigned by the trader who signed up for copy trading.

What is Copy Trading Account?

A copy trading account is a specialized account offered by forex brokers that enable traders to copy the trading strategies of other traders. Usually, copy trading is just another feature available to the traders when they open an account with the brokerage.

Traders usually have to allocate a minimum capital to participate in copy trading. Though not usual, some brokers also have a maximum limit on the capital that can be allocated for copy trading.

For copied traders, they can participate in the program and can extra money from their trading activities being copied only after trading a certain amount of capital with the brokers and passing some other minimum requirements.

Some of the key highlights of trading with a copy trading account:

🏦 SpreadUsual spreads offered by the broker
📊 CommissionYes, with an extra percentage paid to the copied trader
🛡️ Trading StrategyDepends on the broker
🔒 RejectionNA
💰 Re-QuotesNA
💰 SlippageNA

Best Copy Trading Forex Brokers

To select the best copy trading 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.

  • eToro – Best Overall Copy Trading Broker
  • FXTM – Best Copy Trading Broker with Low Deposit
  • Pepperstone – Best Copy Trading Broker with MT4
  • NAGA – Best Copy Trading Broker for Beginners
  • AvaTrade – Best Copy Trading Broker with Third-Party Integration

Best Overall Copy Trading Broker

We have picked eToro as the best overall copy trading broker.

eToro has made its name in the industry by offering copy trading services. The Israeli broker was founded in 2006 and is regulated in multiple jurisdictions like the UK, the USA, Australia, and Cyprus.

eToro started out as an independent social trading platform and then turned into a full-fledged brokerage. It now offers trading services with forex, indices, commodities, stocks, and cryptocurrencies. It offers a very easy-to-use trading platform and its copy trading services are backed by a vast community.

Best Copy Trading Broker with Low Deposit

We have picked FXTM as the best copy trading broker with low deposit.

Traders need to deposit a minimum amount to start trading with a broker. This minimum allocation of funds is also needed to opt for copy trading.

FXTM helms as the broker with low deposit requirements as the broker only needs traders to deposit $10 to start trading on its platform. For copy trading services traders need to allocate at least $100. It offers copy trading services under the FXTM Invest and has a popular platform.

Best Copy Trading Broker with MT4

We have picked Pepperstone as the best copy trading broker with MT4.

MetaTrader 4, which is one of the popular trading platforms, also has an in-built social trading Broker and allows traders to share trading strategies. Pepperstone offers MT4 trading signals and is one of the best brokers to offer copy trading services on the platform.

Apart from MT4, it also offers account mirroring services with Myfxbook and Duplitrade, two other popular platforms. Traders on Pepperstone can trade forex, indices, stocks, commodities, and cryptocurrencies.

Best Copy Trade Broker for Beginners

We have picked NAGA as the best copy trading broker for beginners.

NAGA is a German broker, known for offering copy trading services. It offers a simple, yet powerful, copy trading platform that is easy to use. New traders can pick expert trades from a leaderboard and can also share analysis on messenger.

It also offers a wide range of educational materials to new traders that covers in-depth articles, ebooks, video tutorials, and webinars.

Best Copy Trading Broker with Third-Party Integration

We have picked AvaTrade as the best copy trading broker with third-party integrations.

AvaTrade is an Ireland-headquartered broker holding operational licenses in Ireland, Australia, the UAE, Japan, South Africa, and the British Virgin Islands. It offers almost 800 trading instruments of forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

When it comes to copy trading, AvaTrade offers services with DupliTrade and ZuluTrade, two popular third-party copy trading platforms with massive networks of traders. AvaTrade also offers MQL5 signals services.

Copy Trading Forex Brokers List

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

Forex BrokerCopy Trading AccountAbout Our TestOur Review
eToroYesDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
AvaTradeYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
AXI (AxiTrader)YesDeposit Amount: Over €6,000
Total Trade: 12 trades
AXI Review
XMYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
Admiral MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
FP MarketsYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
FxProYesDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
PepperstoneYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
CMC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
IC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
Vantage FXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
ThinkMarketsYesDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
GO MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review

FAQ and More on Copy Trading 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 copy trading platforms and apps.

Copy Trading Platform in the US

Any forex trading platform in the United States must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA). Unfortunately, none of the copy trading platforms are operating in the country.

Though some of the overseas copy trading platforms are offering services to US residents, we highly recommend traders not invest through those platforms as they are operating illegally.

Copy Trading Platform in the UK

To operate in the United Kingdom, any investment platform needs to be authorized by the Financial Conduct Authority (FCA), a well-reputed financial markets regulator. Many forex and CFDs copy trading platforms are offering services to UK traders.

Some of the copy trading platforms in the UK are:

  • eToro
  • AvaTrade
  • Pepperstone
  • FXTM 

Copy Trading Platform in Malaysia

Labuan Financial Services Authority (LFSA) is the regulator responsible in Malaysia to regulate forex brokers and copy trading platforms. Some of the regulated copy trading platforms operating in the country are:

Copy trading is legal in most countries around the world, with only a few exceptions. We highly recommend traders check if the broker or platform offering copy trading services is well regulated.

Is Copy Safe?

Retail trading is risky, and all those risks apply to copy trading as well. Though copy trading usually involves expert traders, we highly recommend rookie traders not to be influenced by the advertised high returns and understand the risks before investing.

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Best Forex Brokers in New Zealand 2022

To come up with this list, we have tested several forex brokers holding FMA licenses in New Zealand.

We opened a real account and deposited between $4,000 and $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.

New Zealand FMA Regulations for Forex Brokers

Forex brokers must be registered and authorized by the Financial Markets Authority (FMA) to operate in New Zealand. FMA was formed in May 2011 after New Zealand Parliament passed the Financial Markets Bill to streamline regulations on the financial services industry.

FMA’s official website is www.fma.govt.nz, and we recommend investors and traders follow the regulator on Twitter, @FMAmedia, for important regulatory updates.

FMA was set up after several financial scams in New Zealand. The agency inherited its roles from the country’s Securities Commission and is tasked to have a better regulatory oversight on the financial market players, including forex brokers. FMA can issue or revoke licenses, supervise operations, and also regulate business conduct for fair practices.

FMA is one of the few reputed regulators allowing leverage as high as 500:1 and offers negative balance protection to traders. It also offers a compensation scheme of NZ$200,000 to protect clients’ funds if the broker goes bankrupt.

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

🏦RegulatorFinancial Markets Authority (FMA)
📊Max. Leverage500:1
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeNZ$200,000

Best Forex Brokers in New Zealand

To select the best FMA-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.

  • BlackBull Markets – Best Overall Forex Broker in New Zealand
  • IG Markets – Best Forex Broker for Beginners in New Zealand
  • Hantec Markets – Best MT4 Broker in New Zealand
  • CMC Markets – Best Forex Trading Platform in New Zealand
  • Plus500 – Best Forex Broker with Lowest Spread & Trading Fees in New Zealand

Best Overall Forex Broker in New Zealand

We picked BlackBull Markets as the overall best forex broker in New Zealand. 

Headquartered in Auckland, New Zealand, BlackBull Markets offers the overall best trading services to Kiwi traders. The broker is regulated in New Zealand and Seychelles and has operations in globally many countries.

Blackbull’s offerings include trading with forex and CFDs of indices, stocks, and commodities with almost 300 instruments. The spreads offered by the broker are also on the lower side, along with options of two industry-standard trading platforms: MT4 and MT5.

Best Forex Broker for Beginners in New Zealand

We picked IG Markets as the best forex broker for beginners in New Zealand. 

For beginner traders good educational resources are important, and IG Markets excels in offering this. Regulated in many jurisdictions, including New Zealand, IG Markets also provides a user-friendly trading environment, which is very suitable for beginners.

The broker offers trading in several markets giving new traders many options to chose from. Further, it has many trading tools and market research tools that can be mastered by the new traders.

Best MT4 Broker in New Zealand

We picked Hantec Markets as the best MT4 broker in New Zealand. 

Established in 1990, Hantec Markets is one of the big names in the Asia-Pacific region. It holds operating licenses from several regulators and offers excellent forex and CFD trading services.

Hantec Markets is also known for offering trading services solely on the MetaTrader 4 platform to both retail and professional traders. It offers an excellent set of indicators and analysis tools, and, MT4 being the only platform, all are integrated on it.

Hantec Markets offers MT4 clients on both desktop and mobile devices.

Best Forex Trading Platform NZ

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

When it comes to forex trading, CMC Markets tops the list simply because of the number of currency pairs it is offering. The broker offers a total of 339 currency pairs for trading.

CMC Markets offers trading on the industry-standard MT4 platform, as well as its proprietary Next Generation Platform. It also has some of the lowest spreads.

Lowest Spread & Trading Fees in New Zealand

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

Plus500 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.

FMA-Regulated Forex Brokers List & Review

Here is a list of some of the major FMA-regulated New Zealand forex brokers:

New Zealand Forex BrokerFMA RegulatedVisit Broker
BlackBull MarketsYesVisit BlackBull Markets
IG MarketsYesVisit IG Markets
Hantec MarketsYesVisit Hantec Markets
CMC MarketsYesVisit CMC Markets
Plus500YesVisit Plus500
Jarden SecuritiesYesVisit Jarden Securities
Rockfort MarketsYesVisit Rockfort Markets
CLSA PremiumYesVisit CLSA Premium

FAQ & More on New Zealand 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 FMA-regulated brokers.

How to Verify FMA-Regulated Brokers?

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

Go to www.fma.govt.nz and select ‘licensed and reporting entities’ under the ‘compliance’ section. The regulator maintains a list of all regulated entities and names all forex brokers can be found under ‘derivatives issuers’.

BlackBull Markets FMA (Financial Markets Authority) Registration
BlackBull Markets FMA Registration

Forex Options Brokers in New Zealand

Forex options give buyers the right, but not an obligation, to purchase the currencies at the expiry of the contract. They are similar to options contracts of any other asset class instruments.

Some regulated forex options brokers in New Zealand are:

  • CMC Markets
  • BlackBull Markets
  • Plus500
  • Hantec Markets

MT4 Forex Brokers in New Zealand

MT4 is the leading forex and CFD trading platform. Some of the FMA-regulated best MT4 brokers are:

  • Hantec Markets
  • BlackBull Markets
  • CMC Markets
  • IG Markets
  • Rockfort Markets

High Leverage Forex Brokers in New Zealand

New Zealand’s FMA allows forex brokers to offer leverage up to 500:1 on top currency pairs. This means any FMA-regulated forex broker can legally offer such a high margin level. 

Some of the high-leverage brokers in New Zealand are:

  • BlackBull Markets
  • Hantec Markets
  • Rockfort Markets

ECN Forex Brokers in New Zealand

ECN brokers offer direct market access and raw spreads to the traders. These brokers do not take positions against the traders and usually make money from charging commissions.

 Some of the ECN forex brokers in New Zealand are:

  • BlackBull Markets
  • IG Markets
  • Hantec Markets
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Best Forex Brokers in Singapore 2022

To come up with this list, we have tested several forex brokers Singapore holding MAS licenses.

We opened a real account and deposited between €5,000 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.

Singapore MAS Regulations for Forex Brokers

Forex brokers must be registered and authorized by the Monetary Authority of Singapore (MAS) to operate legally in Singapore. Established in 1971, MAS is Singapore’s central bank and also regulated the financial market, including retail forex brokers.

Forex brokers in Singapore need to obtain a Capital Markets Service Licence from the regulator for their operations.

MAS’s official website is www.mas.gov.sg, and we recommend investors and traders follow the regulator on Twitter, @MAS_sg, for important regulatory updates. 

MAS is considered among one of the most reputed financial markets regulators due to its strict frameworks. It requires forex brokers need to keep business and client funds separate, along with several other safety measures to protect traders’ interests. It can also take disciplinary actions for compliance violations and even suspends or cancels licenses in the extreme case.

Retail forex brokers regulated by MAS can offer a maximum leverage of up to 20:1. Qualified professional investors can receive leverage up to 50:1.

However, retail forex brokerage regulations of MAS also has a few shortcomings:

  1. Hedging is not allowed.
  2. Automated forex trading is not allowed.
  3. MAS does not offer any compensation scheme.

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

🏦RegulatorMonetary Authority of Singapore (MAS)
📊Max. Leverage20:1
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo
💰Compensation SchemeNo

Best Forex Brokers in Singapore

To select the best MAS-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 Singapore
  • Swissquote – Best Forex Broker for Beginners in Singapore
  • OANDA – Best MT4 Broker in Singapore
  • Saxo Markets – Best Forex Trading Platform in Singapore
  • Plus500 – Best Forex Broker with Lowest Spread & Trading Fees in Singapore

Best Overall Forex Broker in Singapore

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

CMC Markets is regulated in several jurisdictions around the globe, including Singapore, and it offers extensive forex brokerage services. Apart from forex, its offerings also include CFDs of indices, stocks, ETFs, commodities, and cryptocurrencies.

It offers some of the lowest spreads on currency pair trading and provides trading on industry-standard MT4, along with CMC’s proprietary platform. It provides some excellent trading tools for analysis and market research.

Top Forex Broker for Beginners in Singapore

We picked Swissquote as the best forex broker for beginners in Singapore. 

Swissquote is a major European forex broker holding a regulatory license in Singapore as well. It is one of the top forex brokers for beginners due to its well-sourced educational resources.

Swissquote offers detailed courses on trading to both beginner and advanced traders, along with in-depth guides and webinars. The broker also provides a demo account to new traders for hands-on practice using real money.

Best MT4 Forex Trading Account Singapore

We picked OANDA as the best MT4 broker in Singapore. 

OANDA is by far the best MT4 forex broker. The broker only offers trading services on MT4, meaning all services and tools are only integrated into this single platform.

Traders can also upgrade to MT4 premium services on OANDA to get access to 28 additional trading tools and indicators

Best Forex Trading Platform in Singapore

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

For only forex trading, Saxo Markets is an excellent trading platform. It offers more than 180 currency pairs for trading and lists other popular assets like cryptocurrencies and commodities. 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

Saxo offers three tiers of accounts with attractive spreads on the higher two tiers.

Lowest Spread & Trading Fees in Singapore

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

Plus500 offers attractive spreads on the currency pairs. Its spreads usually remain much lower than the industry average with only 0.8 pips on average for EUR/USD pair, according to our tests. Plus500 does not charge any extra trading fees for opening and closing positions.

MAS Regulated Forex Brokers In Singapore List & Review

Here is a list of some of the major MAS-regulated Singapore forex brokers:

Singapore Forex BrokerMAS RegulatedVisit Broker
SwissquoteYesVisit Swissquote
IG MarketsYesVisit IG Markets
CMC MarketsYesVisit CMC Markets
Plus500YesVisit Plus500
Saxo MarketsYesVisit Saxo Markets
OANDAYesVisit OANDA
City Index (StoneX)YesVisit City Index
Interactive BrokersYesVisit Interactive Brokers

FAQ & More on Singapore 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 MAS-regulated brokers.

How to Verify MAS-Regulated Brokers?

MAS maintains an excellent directory of all the regulated entities under it.

Go to eservices.mas.gov.sg/fid and simply search the intended forex broker’s name in the search bar. If the broker is regulated under MAS, its name will appear and details about it can be accessed by clicking on it.

A list of all companies holding Capital Markets Services License can also be seen as a list on the directory.

PLUS500SG MAS ( the Monetary Authority of Singapore) License
PLUS500SG MAS License

Best Options Trading Platform Singapore

Forex options give buyers the right, but not an obligation, to purchase the currencies at the expiry of the contract. Forex options are available as vanilla contracts, touch options, and others.

Some regulated forex options brokers in Singapore are:

  • Saxo Markets
  • Swissquote
  • CMC Markets
  • IG Markets

MT4 Forex Trading Singapore

Developed by MetaQuotes Software, MT4 is the leading forex and CFDs trading platform. The platform allows a ton of services including automated trading and customized indicators.

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

  • OANDA
  • Swissquote
  • CMC Markets

Low Spread Forex Brokers Singapore

Forex brokers Singapore usually make money from charging spreads on buy and sell positions. But with rising competition in the market, brokers started to charge very competitive low spreads on currency pairs to attract more traders. 

Some MAS-regulated forex brokers offering low spreads are:

  • Plus500
  • CMC Markets
  • Swissquote
  • Saxo Markets

True ECN Forex Brokers in Singapore

True ECN brokers offer direct market access to traders, thus charging zero spreads. However, these brokers charge commissions for opening and closing positions.

 Some of the true ECN forex brokers in Singapore are:

  • Saxo Markets
  • IG Markets

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Uncategorized

Best Forex Brokers in Dubai, UAE 2022

To come up with this list, we have tested several Forex brokers Dubai holding DFSA licenses in the United Arab Emirates (UAE).

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.

UAE DFSA Regulations for Forex Brokers

The Dubai Financial Services Authority (DFSA) license is the most desired operating license for operating forex brokerage businesses based in Dubai, UAE. The DFSA license was launched by the similarly named regulator in 2004 and was targeted to the foreign companies willing to establish companies in Dubai. It is awarded to the financial firms, including forex brokers, based in the Dubai International Financial Center (DIFC).

DFSA’s official website is www.dfsa.ae. Though DFSA does not have a Twitter handle, we recommend investors and traders follow DIFC on Twitter, @DIFC, for important updates.

There are multiple regulated forex broker regulators in the UAE (in both Dubai and Abu Dhabi). Apart from the DFSA, all the UAE regulators need the brokerages to have a UAE citizen as the majority shareholder. The DFSA was created to open up Dubai to global financial companies.

DFSA is a reputed financial market regulator and imposes strict regulations on the companies overseen by it. It actively supervises the regulated companies and needs them to regularly report on the business activities.

Retail forex brokers holding the DFSA license can oper maximum leverage of 50:1. These brokers should offer swap-free accounts to Islamic traders and have to show a standard risk disclosure statement to their traders.

On the negative side, DFSA does not offer any compensation scheme and negative balance protection.

DFSA imported most of its regulations from the United Kingdom’s financial market regulator, the Financial Conduct Authority, which is deemed as one of the top regulators.

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

🏦RegulatorDubai Financial Services Authority (DFSA)
📊Max. Leverage50:1
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo
💰Compensation SchemeNo

Best Forex Trading Brokers in UAE

To select the best DFSA-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.

  • Pepperstone – Best Overall Forex Broker in UAE
  • XM – Best Forex Broker for Beginners in UAE
  • AxiTrader – Best MT4 Broker in UAE
  • CMC Markets – Best Forex Trading Platform in UAE
  • AvaTrade – Best Forex Broker with Lowest Spread & Trading Fees in UAE

Best Overall Forex Broker in UAE

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

Pepperstone is the overall best forex broker operating in Dubai with its extended and versatile services. It is headquartered in Australia but holds multiple global regulatory licenses, including DFSA.

Pepperstone offers trading services with forex and CFDs of indices, stocks, commodities, and cryptocurrencies. It also provides trading on several industry-standard platforms: MT4, MT5, and cTrader. It 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.

Best Forex Broker for Beginners in UAE

We picked AxiTrader as the best forex broker for beginners in UAE

XM offers some of the best educational resources on forex trading, which is very essential for beginner traders. It offers forex guides to platform tutorials and also conducts webinars and seminars.

XM offers a vast arsenal of indicators and tools for market research and analysis. Beginner traders can also execute trades on a demo account without risking it with real money. It also has an excellent customer support desk.

Best MT4 Broker in UAE

We picked AxiTrader as the best MT4 broker in UAE. 

AxiTrader (formerly Axi) aces as the best MT4 forex trading platform. It offers trading services only on the industry-standard MT4, which was developed by MetaQuotes Software. Its market search tools are inbuilt into the MT4 platform.

AxiTrader offers MT4 clients on all platforms: web, desktop, and mobile.

Best Forex Trading Platform in UAE

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

CMC Markets remains the best forex trading platform for many reasons. It offers 339 currency pairs for trading, which is one of the highest in the industry. It also offers trading services with forex options products.

The broker also aces when it comes to trading fees as it charges some of the lowest industry spreads. It offers trading on MT4 and its proprietary platform and offers trading with a wide range of instruments.

Lowest Spread & Trading Fee Forex Broker in UAE

We picked AvaTrade as the best forex broker with the lowest spread and trading fees in UAE.

AvaTrade offers very competitive spreads on currency pairs. Based on our testing, the broker offers an average spread of 0.87 pips on the EUR/USD pair, which is much lower than the industry average of 1.6 pips. Its spreads are also attractive for CFD trading instruments, other than forex.

AvaTrade does not charge any commission on trades and does not have any deposit and withdrawal fees.

DFSA-Regulated Forex Brokers List & Review

Here is a list of some of the major DFSA-regulated forex brokers:

UAE Forex BrokerDFSA RegulatedVisit Broker
PepperstoneYesVisit Pepperstone
IG MarketsYesVisit IG Markets
CMC MarketsYesVisit CMC Markets
AvaTrade YesVisit AvaTrade
XM YesVisit XM
AxiTrader YesVisit AxiTrader
Amana CapitalYesVisit Amana Capital
HenYap MarketsYesVisit HenYap Markets
SwissquoteYesVisit Swissquote

FAQ & More on UAE 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 DFSA-regulated brokers.

How to Verify DFSA-Regulated Brokers?

All DFSA-regulated forex brokers are listed on the public registry maintained by the regulator, which is the most reliable and legitimate source to check license details.

Go to www.dfsa.ae/public-register/firms and search for the forex broker’s name on the search box. The incorporated name of the broker will then appear and licensing details of it can be seen just by clicking on the name.

CMC DFSA (The Dubai Financial Services Authority) License
CMC DFSA License

Forex Trading Brokers in Dubai

Foreign retail forex brokers are mostly based in Dubai, within the economic zone of Dubai International Financial Center (DIFC). Many reputed forex brokers have started operating from Dubai due to the potential in the region.

Some of the forex brokers in Dubai are:

  • Pepperstone
  • Amana Capital
  • CMC Markets
  • XM

MT4 Forex Company Dubai

Many forex brokers still prefer to provide trading services on MT4 trading platform due to its popularity.

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

  • Amana Capital
  • Swissquote
  • Pepperstone

Low Spread Forex Brokers in Dubai

Spreads charged on currency pairs can make or break the business of a forex broker. It is one of the primary sources of earning for the brokers, but higher spreads will push traders away.

Some DFSA-regulated low spread forex brokers are:

  • CMC Markets
  • Swissquote
  • AvaTrade

CFD Trading Dubai UAE

Contract for Difference or CFDs are agreements between buyers and sellers of financial derivatives, settled in cash upon closing. These are complex financial instruments.
The advantages of CFD trading Dubai UAE are that CFDs are leveraged products, thus traders are able to take big positions with small margins. There is also an opportunity to hedge instruments.

Some of the CFD brokers in Dubai UAE are:

  • Pepperstone
  • AvaTrade
  • IG
  • XM
Categories
Uncategorized

Best Forex Brokers in Cyprus 2022

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:

🏦RegulatorCyprus Securities and Exchange Commission (CySEC)
📊Max. Leverage30:1
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeYes (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 BrokerCySEC RegulatedAbout Our TestOur Review
FBSYesDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GO MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review
Fortrade YesDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review
RoboMarkets (RoboForex)YesDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets Review
IC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
FXTM YesDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
Capital.comYesDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
FxProYesDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
PepperstoneYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
Amana CapitalYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
FxPro YesDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
XTB YesDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
eToroYesDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
TickmillYesDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
Plus500YesDeposit 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
Categories
Uncategorized

Best Forex Brokers Canada 2022

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 downsides.

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:

🏦RegulatorInvestment Industry Regulatory Organization of Canada (IIROC)
📊Max. Leverage50:1
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo
💰Compensation SchemeNone

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

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.

Canada Forex BrokerIIROC RegulatedOur Review
CMC MarketsYesVisit CMC Markets
Interactive BrokersYesVisit Interactive Brokers
FortradeYesVisit Fortrade
Forex.comYesVisit Forex.com
OANDAYesVisit OANDA

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:

  • 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
  • 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
  • Forex.com
  • AvaTrade

High Leverage Forex Brokers in Canada

IIROC only offers 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 to trade only with IIROC-regulated forex brokers.