Best Forex Brokers by Country 2022

Up to March 2022, we have tested 33 Forex brokers by country opening 33 live accounts, depositing over US$150,000, placing 400+ trades and making over 120 deposits and withdrawals from 14 countries.

To create in-depth and unbiased Forex broker by country reviews, we

  1. Checked the broker licenses and status in each country
  2. Opened a real account with the brokers
  3. Made real money deposit between $4000-$8000
  4. Placed 3 trades in the popular instrument of each market to determine the average spread
  5. Reached out to the broker’s customer support team to resolve the issues we encountered
  6. Withdrew all our funds to see the withdrawal time and if there are any delays or issues with withdrawals
  7. Compared trading data and experience to pick the best brokers

Please see the brokers by country list below:

CountryRegulatorOur Review
InternationalTop tier regulators FCA, CFTC, FMABest International Brokers
USACommodity Futures Trading Commission (CFTC)
National Futures Association (NFA)
Best Forex Brokers in USA
UKFinancial Conduct Authority (FCA)Best Forex Brokers in UK
AustraliaAustralian Securities & Investment Commission (ASIC)Best Forex Brokers in Australia
New ZealandFinancial Markets Authority (FMA)Best Forex Brokers in New Zealand
CanadaInvestment Industry Regulatory Organization of Canada (IIROC)Best Forex Brokers in Canada
CyprusCyprus Securities and Exchange Commission (CySEC)Best Forex Brokers in Cyprus
UAEDubai Financial Services Authority (DFSA)Best Forex Brokers in UAE
SingaporeMonetary Authority of Singapore (MAS)Best Forex Brokers in Singapore
KenyaCapital Markets Authority (CMA)Best Forex Brokers in Kenya
IndiaSecurities and Exchange Board of India (SEBI)Best Forex Brokers in India
NigeriaCentral Bank of Nigeria (CBN)Best Forex Brokers in Nigeria
South AfricaFinancial Sector Conduct Authority (FSCA)Best Forex Brokers in South Africa
PhilippinesSecurities and Exchange Commission (SEC)Best Forex Brokers in Philippines
MalaysiaSecurities Commission of Malaysia (SCM)Best Forex Brokers in Malaysia
JordanJordan Securities Commission (JSC)Best Forex Brokers in Jordan
IndonesiaBadan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI)Best Forex Brokers in Indonesia
ItalyCommissione Nazionale per le Società e la Borsa (CONSOB)Best Forex Brokers in Italy
FranceAutorite des Marches Financiers (AMF)Best Forex Brokers in France
AustriaFinancial Market Authority (FMA)Best Forex Brokers in Austria
GermanyBundesanstalt für Finanzdienstleistungsaufsicht (BaFin)Best Forex Brokers in Germany
PolandKomisja Nadzoru Finansowego (KNF)Best Forex Brokers in Poland 
PortugalComissão do Mercado de Valores Mobiliários (CMVM)Best Forex Brokers in Portugal
SpainComisión Nacional del Mercado de Valores (CNMV)Best Forex Brokers in Spain
SwitzerlandSwiss Financial Market Supervisory Authority (FINMA)Best Forex Brokers in Switzerland
IranCentral Bank of Iran (CBI)Broker in Iran
CameroonThe Bank of Central State (BEAC)Brokers in Cameroon
CambodiaSecurities and Exchange Commission of Cambodia (SECC) Best Forex Broker in Cambodia
ZambiaZambia Securities and Exchange Commission (SEC)Forex Brokers Zambia
LuxemburgCommission de Surveillance du Secteur Financier (CSSF)Best Brokers Luxemburg
BelgiumFinancial Services and Markets Authority (FSMA)Brokers in Belgium
GreeceHellenic Capital Market Commission (HCMC)Forex Brokers in Greece
MoldovaThe National Bank of MoldovaForex Brokers Moldova
Romania National Bank of RomaniaForex Brokers in Romania
Afghanistan Da Afghanistan BankForex Brokers Afghanistan
Kuwait The Central Bank of KuwaitBest Forex Brokers Kuwait
MauritiusThe Financial Services Commission (FSC)Forex Brokers Mauritius
MoroccoThe Autorité Marocaine du Marché des CapitauxBrokers in Morocco
SyriaThe Central Bank of Syria (CBS)Forex Brokers in Syria
Qatar The Qatar Central Bank Brokers in Qatar
YemenThe Central Bank of YemenYemen Best Brokers
NorwayThe Financial Supervisory Authority of NorwayBest Brokers Norway
Czech RepublicThe Czech National BankBest Brokers in the Czech Republic
Hungary The National Bank of Hungary Best Brokers in Hungary
EstoniaThe Ministry of Economic Affairs and CommunicationsBest Brokers in Estonia
EgyptThe Financial Regulatory AuthorityBest Brokers Egypt
Ghana The Bank of Ghana Best Brokers in Ghana
Namibia The Bank of Namibia Best Brokers in Namibia
Sri LankaThe Bank of Sri LankaBest Brokers Sri Lanka
NepalThe Securities Board of Nepal Best Brokers Nepal
TanzaniaNot RegulatedBest Brokers Tanzania
South KoreaThe Bank of South KoreaBest Brokers South Korea
TurkeyThe Capital Markets Board of Turkey Best Brokers Turkey
SwedenThe Financial Supervisory Authority of SwedenBest Brokers Sweden
IraqNot RegulatedBest Brokers Iraq
RussiaThe Central Bank of RussiaBest Brokers Russia
BrazilThe Securities and Exchange Commission of BrazilBest Brokers Brazil
BotswanaThe Bank of BotswanaBest Brokers Botswana
IsraelThe Israel Securities AuthorityBest Brokers Israel

Author of this review

By George Rossi

Author of this review

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

Now I am passionate about reviewing and comparing forex brokers.

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

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