Best OTC Forex Brokers 2023

For this list, we have searched and tested several OTC forex brokers.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. For the purpose of getting the actual picture, we placed real trades in each popular market.

We also reached out to the customer support team to solve the possible issues. 

We handpicked the best OTC forex brokers based on our trading data and experience as a trader.

What is OTC?

OTC forex brokers are considered the most common providers of trading services. The OTC execution model suggests that the deals are performed through the counter. When it comes to bid and ask prices, OTC forex brokers act as market maker brokers. With these brokers, the trading is executed directly between two parties. In OTC trading the price is not always publicly disclosed. 

OTC brokers conduct their trades with financial instruments, commodities, stocks and derivatives.

Which Brokers allow OTC Trading?

Generally, OTC trading is carried out by market-maker brokers. In order to choose a broker for OTC trading, the traders should go through the list of the best forex brokers. To select an OTC forex broker, it is important to pay attention to their availability, trading conditions, suggested instruments and trading platforms. 

With OTC brokers the trading is between two parties, whereas stocks are passed through a dealer network. Some instruments, like stocks, are mostly traded on OTC. 

Who are Best Brokers for OTC Trading?

When choosing OTC brokers, it is advisable to consider only well-regulated and authorized brokers. This way the traders can avoid unreliable brokerage offerings.

Based on our experience and collected data, we have selected the best OTC forex brokers:

• IG Markets
• AvaTrade
• Plus500
• XM
• FXTM
• Interactive Brokers

Best Overall OTC Forex Broker

We have picked AvaTrade as the best overall OTC forex broker.

Founded in 2006, AvaTrade is regulated in a number of jurisdictions, including Ireland, Australia, the UAE, Japan, South Africa, and the British Virgin Islands.

Starting as a retail forex trading platform, today AvaTrade offers trading with forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

AvaTrade fees are built into the spreads; its spreads on forex, stocks, commodities, and cryptocurrency CFDs are rather attractive.

AvaTrade offers a single account type, though it also has Islamic trading accounts for the Islamic traders.

Best Brokers for OTC Stocks

We have picked Interactive Brokers as the best brokers for OTC stocks.

Interactive brokers started back in 1977.  It is well-regulated by international regulatory bodies and holds a number of licenses: US SEC & CFTC, ASIC, FCA.

Interactive Brokers enables trades with multiple markets, as Stocks, Futures, Forex, CFDs, Warrants, Combinations, Bonds, Mutual Funds, Structured Products, Physical Metals, Inter-Commodity Spreads.

The fees are based on the commission charge per trade, also on the product you trade.

Best OTC Broker with MT4 Platform

We have picked Markets.com as the best OTC broker with MT4 platform.

Founded in 2008, Markets.com is a global Forex and CFDs broker. It holds licenses in the United Kingdom, Australia, Cyprus, South Africa, and the British Virgin Islands.

Markets.com offers thousands of instruments in Forex pairs, indices, stocks, commodities and cryptocurrencies. The spreads for popular instruments are generally higher than the average. 

The trading conditions at Markets.com are favorable. The broker allows high-risk strategies, such as hedging and scalping.

The broker offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. It also has two proprietary platforms: Marketsx and Marketsi. 

Best OTC Brokers with Lowest Spread

We have picked Admiral Markets as the best OTC forex broker with lowest spread.

Admiral Markets was founded in 2001. It is a global Forex and CFDs broker licensed in Australia, the United Kingdom, Cyprus, and Estonia. Admiral Markets offers thousands of instruments to traders in Forex pairs, indices, stocks, commodities and cryptocurrencies.

Admiral Markets charges very low fees for its trades. The spreads are also below industry averages.

Admiral Markets offers 5 account types with differing features. As to the trading platforms, the broker offers the popular MT4 and MT5.

OTC Brokers List

Here is a list of OTC forex brokers, which we have tested and reviewed.

Forex Broker	Test Details	Broker Review
FxPro	Deposit Amount: Over €5,000 Total Trade: 15 trades	FxPro Review
Admiral Markets	Deposit Amount: Over €5,000 Total Trade: 12 trades	Admiral Markets Review
AvaTrade	Deposit Amount: Over €4,000 Total Trade: 21 trades	AvaTrade Review
XM	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review
CMC Markets	Deposit Amount: Over €5,000 Total Trade: 12 trades	CMC Markets Review
Plus500	Deposit Amount: Over €6,000 Total Trade: 18 trades	Plus500 Review
Go Markets	Deposit Amount: Over €4,500 Total Trade: 12 trades	Go Markets Review
GKFX	Deposit Amount: Over €5,000 Total Trade: 15 trades	GKFX Review
Fortrade	Deposit Amount: Over €5,000 Total Trade: 12 trades	Fortrade Review
Go Markets	Deposit Amount: Over €4,000 Total Trade: 12 trades	Go Markets Review
XTB	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
AxiTrader	Deposit Amount: Over €6,000 Total Trade: 12 trades	AxiTrader Review

FAQ and More on Brokers that allow OTC Trading

Traders usually have many questions connected to general trading-related queries. We picked and answered some of the most important and common queries related to brokers that allow OTC trading.

What Brokers Trade OTC Stocks?

While choosing a broker, traders should pay close attention to a number of factors such as the available instruments, trading platforms, fees, etc.

For the traders interested in stocks, we have picked the best-regulated brokers that support OTC stocks: 

•  IG
• AvaTrade
• Saxo Markets
• Interactive Brokers

Best OTC Brokers Crypto

If you consider using OTC services for buying and selling cryptocurrencies, be sure to learn more about OTC brokers to avoid unpleasant surprises. When buying a large amount of cryptos, traders can often encounter a number of risks and problems. This is when OTC trading really comes in handy as it is available to only certain individuals and groups.

As the best OTC brokers Crypto we have picked the following brokers:

• FXTM
• IG
• FBS

OTC Energy Brokers

Energy brokers act as intermediaries between energy suppliers and clients. Brokers do not have the authority to sell energy directly. They are simply representing the supplier’s rates.

As the best OTC energy brokers we recommend our following picks that we have tested and analyzed:

• CMC Markets
• XTB
• Pepperstone

OTC Brokers UK

They are a considerable number of OTC brokers UK. Yet, when choosing a broker, it is important to pay attention whether it is strictly regulated or not and other factors that will ensure you that the brokers are trustworthy.

Based on our experience, we have stopped our choice on the following OTC forex brokers UK:

• Plus500
• XM
• Admiral Markets
• FXTM

OTC Brokers Canada

To pick the best brokers for OTC trading in Canada, we tested a number of brokers, examined their offerings, tools and reliability.

Based on our testing, we recommend the following brokers as the best OTC brokers Canada:

• CMC Markets
• Interactive Brokers
• AvaTrade

OTC Europe brokers

There are so many brokers in Europe that offer OTC trading with attractive conditions. Anyway, it is essential to pay attention to the broker’s availability, suggested instruments, trading conditions and platforms. 

Based on our tests we have come up with a list of the best OTC brokers operating in Europe:

• IG Markets
• XM
• FXTM