One of the most important factors that determine a forex traders success is the broker(s) he or she chooses to do business with. There are many aspects to consider when choosing between the many forex brokers out there, some of which are difficult to find out until you have traded real money with them, at which point it may be too late. In this section, we give you that information up-front, with no bias. Our forex broker reviews are written after doing extensive testing of the brokers forex platform and trading conditions, using real-money accounts. You will not find this type of informationelse. We hope it helps you make an informed decision on who you can trust with your money, and which forex brokers are best suited to you and your trading style.

To help you narrow down your search, we have also categorized our database of forex brokers, so if you have a pretty good idea about what you are looking for, you can start by opening the broker search box on the right side of this page and checking off all the criteria you are looking for in a forex broker. Otherwise, feel free to browse through our full list of forex brokers below.

Alpari NZ (not the same company as Alpari UK or US), enjoys one of the best reputations for honesty among all retail forex brokers. There are numerous reports on the internet about Alpari spontaneously returning customers money on orders that didnt get filled properly as a result of some error on Alparis part. This is almost unheard of in the retail forex world, as most traders have to fight tooth-and-nail with their brokers for every pip. If this is the sort of service you value, and you should, then look no further than Alpari.

$10 per standard lot (100,000) round turn trade. Trade can be held for unlimited time period.

0.5 pips (0.00005) – widens overnight Moscow time

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If you are looking for a strong Asian forex broker offering, you are well advised to at least consider InstaForex, as it is one of the most successful brokers to come out of Russia (and that is saying a lot when considering that Alpari and EXNESS are both originally Russian). In fact, InstaForex was named the best broker in all of Asia in 2009 and 2010, beating out some fairly tough competition.

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EXNESS is a fairly new entrant into the forex arena, and it offers some very interesting trading conditions. Though there is no actual relationship between the two (as far as we are aware), EXNESS and Alpari which is also of Russian origin, thrive in a jurisdiction where the rule of law is not always respected. While EXNESS is regulated by Russian law, this in itself is not a great comfort for foreign traders. No doubt EXNESS management, much like Alpari, is aware of this and therefore goes well above the call of duty to ensure that clients are treated fairly.

No, all orders are executed at best available price

Yes – no extra charges and available to everyone, not just Islamic traders

0.1 pips (0.00001) on Expert Accounts, 0.4 pips (0.00004) on Classic Accounts, 0.7 pips (0.00007) on Mini Accounts

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UFX Bank provides a decent level of service to their customers, from the customer support, to trading support and easy access to the dealing desk. Withdrawal of funds appears to be a bit disorganized but it does get done eventually, whether you are withdrawing profits or not. UFX Banks trading conditions are such that the benefits of a UFX account are most pronounced for well capitalized traders, which makes it more worthwhile for larger investors than for small traders. This is a known predatory practice.

Yes, all stop-loss and take-profit orders are guaranteed by UFX Bank against slippage.

– swap-free accounts are charged slightly higher spreads

2 pips (0.0002) for Platinum Accounts, 3 pips (0.0003) for Gold Accounts, 4 pips (0.0004) for Standard Accounts, 5 pips (0.0005) for Mini Accounts

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The main advantage eToro has over other trading platforms is that it is very easy to use. It may not have all the functionality of some professional platforms, such as conditional order types, automated trading etc. or access to exotic currencies and other instruments, but it is a solid entry-level forex platform. Over and above currencies, eToro also allows traders to take part in the commodity market by trading Gold (XAU/USD) and Silver (XAG/USD), not to mention the exciting new Bitcoin market (BTC/USD). It should also be noted that eToro is a swap-free broker.

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FXCM is one of the largest (over $100 million in firm capital) and best known forex brokers in the business. Featuring straight-through processing, multiple trading platforms including the popular MetaTrader 4 (MT4), FXCMs own downloadable FXCM Trading Station or Active Trader, as well as a Java platform that is compatible with Macs. Each platform has its own advantages, depending on your trading style.

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Trading Point Forex is a relatively new MT4 forex broker that is becoming well established as a result of the solid trading conditions and support services on offer, as well as being regulated by some of the worlds most stringent regulatory agencies such as the FSA. Trading Point also ensures client funds safety, by keeping it segregated from company operating capital.

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ICM Trading (iTrade Capital Markets) is an offshore broker (BVI) that deals primarily in spot forex, but also offers some common CFDs as well asforex options, which is a very nice feature. The number of tradable instruments is not staggering, since the spot forex pairs are limited to 19 pairs, with nothing exotic on offer. These are the most liquid pairs and are the staples of most professional traders, since the low liquidity, high spreads and less reliable research make exotics all but untradable for many traders. Please be sure to also read the WARNING at the bottom of this review.

Yes, all stop and limit orders are guaranteed against slippage.

All accounts are Shariah compliant, but a charge of $1/mini-lot/day is applicable to all overnight positions

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FXcast is an offshore forex broker, based in the small island country of Mauritius. Using a highly automated dealing system, FXcast is able to use advanced risk algorithms to decide whether or not to trade against its clients or to pass client trades on to a higher tier. This ensures that the back-end runs quickly and efficiently, eliminating a lot of unnecessary costs and lags. It is a double-edged sword however, because not all traders are treated equally – when the algorithm decides that a trader is unprofitable, the system trades against that trader, creating a conflict of interest (the company profits if the trader loses). The result is a mixed bag of fairly low fixed spreads AND guaranteed limit order execution with NO slippage, but a noticeable amount of price manipulation.

Yes – all limit orders experience NO slippage

Swap-free accounts incur a $0.05 fee per 1,000 unit round-turn trade.

Market Maker or Straight-Through Processing based on lots traded and risk profile as determined by FXcast risk server

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DeltaStock offers some of the best trading conditions available, even among other premier forex brokers. In fact, we were so impressed with DeltaStock, that it is actually difficult to find anything negative to say about them. The only borderline negatives are that the Delta Trading platform is a bit complicated and difficult to manage with all those separate windows flying around, but really, for a platforms with so much functionality, it is a very minor complaint. Any trader that considers himself/herself a professional, cannot at the same time say that they are put off by slightly steeper learning curve in exchange for a wealth of functionality. Despite this however, MT4 is on offer if you prefer simplicity (or auto trading).

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AvaTrade is based in Israel with a presence in the British Virgin Islands and a major office in Ireland. Established in 2006, the organization appears to be making headway towards becoming an attractive forex dealer. AvaTrade hasnt always had a stellar reputation, but has recently made serious strides in improving their trading conditions, as well as payment processing and customer support.

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Marketiva is a good, easy to use forex trading platform for smaller account holders. Its main focus is on newer traders, who have somewhat different needs from experienced traders. It is also an excellent choice for Islamic traders because Marketiva is aswap-free forex broker

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MIG fx is one of the top Swiss forex brokers, regulated by ARIF, offering one of the most highly regulated and secure environments in which to trade spot forex, silver and gold, without any restrictions based on traders place of residence – traders from any country in the world are welcome to have real accounts.

Stop orders executed at best available price.

2 pips (0.0002) on Standard and Professional Accounts. 1 pip (0.0001) on Institutional Accounts.

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Saxo Bank is an international investment bank that focuses on providing its clients access to online trading across a variety of financial markets in a variety of countries. Included, of course, is the mother of all markets – spot forex. Saxo Bank is a fully regulated European Bank, based in Copenhagen, Denmark, and as such, provides a level of service that few other forex dealers can claim, as well as one of the best online trading platforms in the world.

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If you are looking for a quality European forex dealer, you may be delighted by what AskOBid has to offer. The variety of tradable instruments is substantial, and includes several rare exotics as well as XAU and XAG (Gold and Silver). You can see the full list of tradable instruments below. With account sizes starting at $100, fixed spreads, and decent order execution even at times of low market liquidity and strong (but not stifling) regulation, its easy to see why AskOBid is becoming the dealer of choice for many smaller investors.

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Sigma Forex is a relatively new MT4 broker offering very low 1 pip spreads on 12 different pairs. Please be WARNED however, that its reputation among traders is fairly poor, with some calling Sigma Forex an outright scam. There are several reports cirulating around the internet about traders not being able to withdraw their profits, and even being denied withdrawals of their original deposits.

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IBFX is widely regarded as one of the premier brokers in the retail forex market, and there is a reason for this reputation. Guaranteed fills on stop and limit orders, combined with very low spreads, straight-through order processing (no dealing desk) to multiple liquidity providers, industry-standard MetaTrader 4 (MT4) trading platform

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Henyep Investment (UK) Limited, the father of HY Markets, has been around since 1977, making it one of the most established players in the game. The company is also regulated by the FSA in the United Kingdom, adding another layer of security to clients who conduct business with HY Markets.

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Oanda is a very well respected forex broker among large and small account holders. Oanda is known for being an innovative company that offers traders some unique features such as hourly swap payments and single unit positions sizing – your positions can be as small as 1 unit, which greatly improves traders ability to apply sound money management rules correctly without having to round down your position sizes. Oanda also offers a great deal of transparency.

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Forex Yard offers a very nice trading package for intermediate level traders: good charting, combined with great execution – guaranteed stop orders, no slippage, no requotes – as well as the ability to trade oil, gold and silver.

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