In our 2021-2022 Best Forex Brokers Review, we evaluated 180 international forex brokers. Here is a summary of our findings that help you find the best forex trading platform
Best Forex Trading Platform in October, 2021
| Online Brokers | Trading Platform | Open Account | ||
|---|---|---|---|---|
AvaTrade | Trading App, MT4, MT5, Web Trader, AvaOptions | Open Account | ||
| 2006 | 20% Bonus | Trading App, MT4, MT5, Web Trader, AvaOptions | ||
Trade Nation | MetaTrader 4 | Open Account | ||
| 2010 | Spreads from $0 | ASIC | ||
Pepperstone | MT4, MT5, Web Trader | Open Account | ||
| 2010 | Best in UK | MT4, MT5, Web Trader - CYSEC, BAFIN, CMA, SCB, DFSA, ASIC, FCA | ||
FP Markets | Iress, MetaTrader | Open Account | ||
| 2005 | 0.0 Pips | ASIC, CySEC | ||
eToro | Trading App, MT4, MT5, Web Trader, Copy Trader | Open Account | ||
| 2007 | Best for Copy Trading | NFA, CySEC, ASIC, CFTC, MiFID, FCA | ||
FXCM | MT4, MT5, Web Trader | Open Account | ||
| 1999 | $0 Rollover Fees | FCA, ASIC, SFC, CONSOB, BaFin, ACP | ||
What do Forex brokers offer?
Before choosing the broker you must know what your forex broker offer. In fact, there are several factors that differentiate a broker from scam; one of them is their portfolio and what the forex brokers offer.
What are the best forex trading platforms for beginners?
A decent Forex trading platform provides you with the tools and technology to buy, sell, and manage over 500,000 currency pairs or other contracts of varied sizes in major currencies worldwide. The Fx trading platform offers its users a platform that facilitates live trading and automated trading. It is often fast and offers easy access to market information and essential indicators.
Generally speaking, there are three main types of forex trading platforms:
- The high-end platforms – These types of forex brokers offer professional services and are designed for experienced traders.
- The middle-end also known as essential brokers are more broadly accessible and aimed for traders who want less programming-intensive trading softwatr but still provide powerful analytical tools and risk management capabilities.
If you are unsure what forex platform works for you, it’s best to start with a demo account on one of these brokers like Pepperstone, or AvaTrade. You can open your demo account and practice.
How to choose the best broker for forex trading
When our editorial team reviews any forex brokerage company globally, we always look for factors that can make a difference in the forex trading experience of beginners and professional traders. These factors include:
- How much are forex Trading Fees?
- What are the best currency pairs that top brokers offer?
- What are the Best Forex indicators EAs?
- Do all brokers allow EAs?
- Can I use EA Robo Advisors when trading forex?
- What charting tools do they offer?
- How easy is it to add funds and withdraw money from the best forex brokers?
- How much deposit fees do they charge?
- Which broker is the best?
- How long does it take to withdraw money from forex brokers?
- What best brokerage accounts do brokers offer?
- What forex account types can I open with brokers?
- What are the best online trading platforms?
- What is the best forex trading app?
- What is the best brokerage app?
- Is their support team responsive and helpful?
- Is the brokerage company regulated?
- What is the most legit forex broker?
- And many more factors.
Best broker for forex trading in UK: Pepperstone
Pepperstone is an award-winning broker for forex trading chosen by 300,000* traders globally. Trade 1000+ instruments including commodities, cryptocurrencies**, shares, ETFs and more.
Regulated in seven jurisdictions, Pepperstone delivers top-quality pricing, products, speed and service to traders all over the world.
Pepperstone was founded in 2010 by a team of experienced traders who shared a commitment to improving the world of online trading. Since then the broker has grown rapidly and is now one of the largest MetaTrader and cTrader brokers in the world.
Today Pepperstone is a multi-regulated firm with offices in London, Cyprus, Düsseldorf, Melbourne, Dubai and Kenya.
Pepperstone is well regulated by top financial authorities in both markets:
- The Financial Conduct Authority (FCA) in the United Kingdom
- Australian Securities and Investments Commission (ASIC) in Australia.
During liquid times, the spreads that Pepperstone charges might go as low as 0 pips on the major trading currencies such as EURUSD.
Pepperstone’s portfolio of trading instruments is mainly around Forex, Indices, Commodity CFDs, Share CFDs, Cryptocurrencies and Currency Indices.
Apart from that, the trading software that Pepperstone offers are MT4, MT5, and their CTrader software (developed by Spotware) which is one of the best forex brokers for beginners
The tools and charting that you’ll find in MT4 platform is comprehensive and easy to customise.
Also, the broker is offering fair educational materials such as webinars, plus a demo account that helps you practice trading before doing the actual job.
Our editorial team have tested their online platform and evaluated their service, and decided to rate Pepperstone as:
- Top CFD brokers in Australia
- Top Trading platform for beginners.
Pepperstone is a no deposit broker which makes it easy to start, especially for beginners. The index fees that they charge for forex and equity are pretty low as well. The bright side is their decent customer support too. Let’s deep dive into other aspects of this broker and help you get started.
Why Trade with Pepperstone?
Account Security
Pepperstone is regulated by ASIC, FCA, CySEC, CMA, DFSA, BaFin and SCB. All money is held in segregated client bank accounts at regulated banks.
Learn more on how Pepperstone keeps client funds safe.
Razor-Sharp Pricing
Pepperstone uses multiple liquidity providers from Tier 1 banks to give clients access to razor sharp pricing and deep liquidity on all instruments. All trades are filled in full, with no partial execution or requotes on market orders. Access spreads as low as 0.0 pips^. Competitive prices include:
- 14 Major FX pairs with spreads from 0
- Spot gold spreads from 0.05
- GER30 spreads from 0.9
- NAS100 spreads from 1
- Crude oil spreads from 2
- Many more instruments with razor sharp spreads
Click here to view all Pepperstone’s spreads.
Broker Reliability
Get 99.9% fill rate1, fast execution, and no dealing desk intervention on all trades.
Seamless Trading Experience
All Pepperstone traders have access to their own personal client area where they are able to fund and withdraw securely and without incurring any fees. There is a full range of funding and withdrawal options available.
At Pepperstone, you can deposit and withdraw money via bank transfer, debit or credit card or from the following electronic wallets: POLi, BPay, PayPal, Neteller, Skrill, Union Pay. Basic withdrawal and depositing with Pepperstone is free of charge. Click here for more information on Funding and Withdrawals.
Exceptional Customer Support
Pepperstone has achieved worldwide trust because of their award-winning customer support. The broker takes pride in its exceptional client service, offering multilingual support 24hr 5 days a week and 18hr on weekends across email, live chat and phone.
Best Spread Betting Broker
Opening an account with Pepperstone is quick and easy. Whatever your trading style or experience level, there is an account type to suit you. Pepperstone offers both standard and razor CFD and Spread Betting accounts.
You also have the option to trial a demo account before opening a live account. This is sometimes a preferred option for those new to trading or looking to practise trading strategies in a risk-free environment.
Step by step guide to opening a Pepperstone account
How to open a live account: at pepperstone
- Create your login: Enter your details and choose a password to create your account.
- Take the appropriateness test: This short questionnaire allows an assessment into which trading derivative products are appropriate for you.
- Confirm your ID: You’ll need two ID documents – a photo ID and a secondary ID.
- Fund and trade: Once your application is approved, you can log in and fund your account.
How to open a demo account at pepperstone:
- Create your demo account: Complete a simple application form
- Download your trading platform: Choose from three powerful platforms, MetaTrader 4, MetaTrader 5 and cTrader, or trade through your web browser with the WebTrader app.
- Start trading: Practise your trading strategies with up to £/€/$50,000 in virtual funds and real market pricing for the next 30 days.
Best Low Spread Brokers
Commissions are only charged on CFD Razor accounts when trading Forex and on CFD Equities.
For MT4/5, these commissions are based on your chosen account currency and the lot size of your trade. For cTrader, commissions are calculated as 7 units of the base currency per lot of the FX pair you’re trading.
Pepperstone’s Commission Structure
| Trading account currency | Commission per 0.01 lots (1000 base currency) | Commission per 1 lot (100,000 base currency) |
| USD | USD 0.04 (USD 0.08 round turn) | USD 3.50 (USD 7 round turn) |
| EUR | EUR 0.03 (EUR 0.06 round turn) | EUR 2.61 (EUR 5.23 round turn) |
| GBP | GBP 0.02 (GBP 0.05 round turn) | GBP 2.29 (GBP 4.59 round turn) |
| CHF | CHF 0.03 (CHF 0.06 round turn) | CHF 3.30 (CHF 6.60 round turn) |
| Trading account currency | Commission per 0.01 lots (1000 base currency) | Commission per 1 lot (100,000 base currency) |
| USD | USD 0.04 (USD 0.08 round turn) | USD 3.76 (USD 7.53 round turn) |
| EUR | EUR 0.03 (EUR 0.06 round turn) | EUR 2.61 (EUR 5.23 round turn) |
| GBP | GBP 0.02 (GBP 0.05 round turn) | GBP 2.29 (GBP 4.59 round turn) |
| CHF | CHF 0.03 (CHF 0.06 round turn) | CHF 3.30 (CHF 6.60 round turn) |
Commissions on cTrader Accounts are based on 0.0035% of the base currency that’s being traded. For example, if you’re trading 100,000 of EUR/USD the commission charge will be €3.50 EUR to open the contract and €3.50 EUR to close out the Contract.
Pepperstone doesn’t charge commissions on trades made on CFD Standard accounts, however there is a 1 pip markup on the raw spreads.
Low Spreads Brokerage
Some brokers offer discounts so great that you can save 100% or more. These brokers have figured out how to provide the best deals to their clients throughout the entire financial year. Generally, there are three types of spreads: The first is the traditional spread between the top and bottom of the market. This is what most people will be used to seeing when they sit at the bank and check their balance.
There are numerous factors to take into account when choosing a low spreads broker. The first and most important is reputation. Are they well known and trusted? Have they been around for a long time? If your authority or reputation is relatively new, it may be a little easier to find low spreads brokers.
However, finding lower spreads brokers may become more difficult if you have been around for a while and are well known and trusted. If you find yourself on the trading side of things, you might be wondering how you can improve your trading platform. The first thing you should look at is how much you are willing to put into the markets. Here we will explain how much is too much and how to choose a low spreads broker.
Low Spreads Forex Brokers are designed to help you make the most out of your trades by giving you access to the market at the best possible time and cost.
Are Low Spread Brokers the right choice for you? This guide covers every factor that makes a forex broker great, including spreads, regulatory compliance, and execution speed.
If you are looking for the ttop 8 forex brokers globally that charge no commission, AvaTrade could be a good choice. The broker does not charge a commission, and all fees that you might pay are meager.
To deposit funds to your account or withdraw funds from your profits, you need to choose a payment method that suits your need. AvaTrade offers different payment options. AvaTrade is among forex brokers that accept PayPal for deposit and withdrawal.
We have explained how forex brokers make money, yet when it comes to how AvaTrade makes money, the answer is obvious: Charging spreads.
Other alternative payment methods for this top forex brokers list, especially Ava Trade, are Credit card, Wire transfer (NatWest, Barclays, UniCredit), Neteller, Webmoney, and 20 more payments options are available.
Forex trading Fees
In a nutshell, the fees associated with forex trading are based on the exchange rate used to determine the cost of a stock or commodity contract. This exchange rate is constantly changing, and it’s hard to predict how much it will be all year long. Therefore, you’ll want to keep an eye on how the rates are changing throughout the day so that you aren’t charged exorbitant amounts just because an item was sold at a specific price the previous day.
What are the best low cost forex brokers?
It all comes down to what you’re willing to pay for trading in highly volatile markets. While many people understand that it’s necessary to put money into foreign currency accounts when investing, few realize how much these accounts increase their profits – and how much money they lose.
The most considerable fee associated with forex involves currency exchanges, which occur every day on the global market.
This fee is called a spreads fee. It will vary depending on the kind of currency you’re buying or selling and whether you’re using an automated or manually executed setup.
Top 10 Best Low Commissions Brokers
Having a trading account with zero commissions means you will not pay any retail pricing commissions when using any brokerage company. Zero commissions mean no hidden costs and minimum dollar limits on what you can earn.
Low Commission Fx Brokers
Have you ever wondered which currency brokers offer the best rewards and commissions? Zero commissions mean that the broker receives money from alternative revenue streams without charging you a single penny. Most brokers offer various services, including unit trust, margin trading, stock trading, digital currency exchange, and many others.
Let’s compare the forex fees of three brokers.
| Forex Scenario | AvaTrade | XM | Plus500 |
|---|---|---|---|
| EURUSD | 19.2 | 17.1 | 17.2 |
| GBPUSD | 15.7 | 13.8 | 14 |
| AUDUSD | 12 | 13.9 | 12.6 |
| EURCHF | 8.5 | 9.1 | 9 |
| EURGBP | 14 | 12.2 | 12.6 |
“Illustrative prices”
Inactivity Fees
You’ll be charged $50/m if you are inactive for a quarter.
Minimum Deposit
Minimum Deposit for AvaTrade is $100
Base Currencies
You are able to choose your base currencies from: “USD, EUR, CHF, AUD*, GBP**”
• AUD is only for Australian Clients*
• GBP is only for clients from the UK.**
Cheapest Forex Brokers
When looking for the cheapest forex brokers, you want to ensure you are getting the best deal. When comparing brokers, always look at their overall price and ask yourself if these rates are competitive. Make sure you review their hidden fees too.
If you want to trade different currencies against each other and speculate USD position against other currencies such as GBPAUD, JPY or GBP, Euro, etc., you need to choose a regulated for your forex trading journey or spread betting strategy.
Unlike trading stock in exchange markets limited to market opening time, forex trading forex is open 24 hours a day, except on the weekends. AvaTrade is one of the cheapest brokers in the forex market.
AvaTrade’s portfolio is limited to CFD & Forex CFDs, which means no real assets or shares are available yet. One big advantage for crypto traders is that AvaTrade offers a crypto trading platform versus fiat currencies.
The bad news for professionals is that you won’t be able to change the leverage level. We thought lack of transparency about highest leverage forex broker is a negative point.
AvaTrade App is one of the best commission-free brokers platforms. You can also use it to trade CFDs such as commodities, ETF, Stock index CFDs, and more. If you are interested in stocks and CFD trading, you should see our comprehensive list and see the best CFD broker list.
AvaTrade Accounts: You can open your demo account and live account in a few minutes. If you planned to go for options trading, you might want to open an options trading account to see their competitive price list.
As a Forex trader, you can open a demo account on AvaTrade, which is great for beginners to practice and learn how to trade forex.
If you are a professional trader, you can switch to AvaTrade, open a live trading account, and deposit $100 to get on board with the best trading platform.
You have just read How to Open a Forex Demo Account in 5 minutes on your mobile. If you wonder where and how to open a demo account, check the full review on each fx broker.
Like eToro, AvaTrade also allows social trading. That means you can follow an experienced trader’s history and follow their portfolio. To make this happen, Avatrade is using DupliTrade and ZuluTrade.
Best Forex Trading App
Forex trading apps have gained popularity in recent years because of their ability to accurately and efficiently trade. You can use these trading apps to safely and quickly purchase stocks or derivatives with a click of a button. Several regulated brokers offer trading apps.
What is the Best Forex trading software
AvaTrade offers one of the best forex trading platforms and forex trading apps. AvaTrade’s trading platforms provide enough features to beginners and professional traders.
Like other MetaTrader 4 brokers, AvaTrade is also using MT4 as a default platform for currency trading. Since it is known to all traders, you can easily get on board.
You can trade on all three forex trading platforms:
AvaTrade also uses a web trading platform is powered by “Web Trader,” which is good for those who don’t want to install anything on their system.
The desktop trading is available for windows and Mac users too.
“AvaTradeGO” is the broker’s mobile trading App for smartphones: Android and IOS. The platform is user-friendly and easy to use. Let’s have a look:
“Market Trends” is one of the features in AvaOptions that helps you monitor the market in real-time.
Best Forex Brokers UK
The UK is one of the largest countries in the world, and therefore home to some of the biggest and best Forex companies in the world. If you want to learn how to trade on the UK’s leading forex platforms, this section should be sufficient. We look at some of the most reputable UK Forex brokers and offer an in-depth analysis of how they operate.
What is the top forex broker in UK?
One of the other reasons AvaTrade made it to the list of best forex brokers is their genuine forex bonus. AvaTrade, as trusted forex platforma, offers up to a 20% welcome bonus to new traders.
As for regulation & licensing, the trading platform is regulated in the following jurisdictions:
- As one of the best Forex brokers in Australia. In Australia, it is regulated by the Australian Securities and Investments Commission (ASIC)
- As one of the best Forex brokers in South Africa, (FSCA), known as the Financial Sector Conduct Authority, oversees their activities.
- In Japan, they are governed by both (FSA), the financial service agency, and (FFAJ) Financial Futures Association of Japan.
- As one of the best forex trading platform UK and Ireland, The Central bank of Ireland is in charge of its financial activities.
- B.V.I from the British Virgin Islands
As one of the best Forex brokers in the UK, AvaTrade offers investor protection. If you are an EU Citizen, then their policy of protection up to €20,000 can apply to you.