How to Find the Best Forex Broker

Finding the best forex broker depends on each trader’s individual needs. For instance, day traders must carefully consider account minimums, commissions, and spreads as well as any broker regulated by tier-1 financial regulators before selecting their broker.

The best brokers offer efficient and user-friendly trading platforms that provide users with all of the tools necessary to understand trends, as well as educational resources and support services for new traders.


Oanda is a highly-regulated broker with licenses from top regulators, such as the Commodity Futures Trading Commission and National Futures Association. They offer market research tools and an intuitive mobile app, while also offering educational resources including articles and videos for clients to utilize.

Oanda’s platform is engineered for reliability, ensuring that trade executions take place at the prices seen on your chart. In addition, margin trading – whereby taking positions larger than your account balance can generate profits but also presents greater risks – is also supported on their fxTrade platform, with tools for risk management such as hedging, negative balance protection and stop loss options; all supported payment methods like debit/credit cards, wire transfers and PayPal.


eToro is an award-winning trading platform that allows users to invest in stocks, exchange-traded funds (ETFs), commodities and cryptocurrencies. Additionally, this social trading feature called CopyTrader and educational resources are all included within its offerings.

When opening an account with eToro, traders have an array of accounts from which to select. Retail accounts provide easy trading for beginners while professional accounts cater more experienced traders. Furthermore, two-step verification and biometrics help protect traders’ accounts further.

eToro offers an education section, news articles and market analysis articles on its global home page; while individual stock, ETF and cryptocurrency pages feature TipRanks, price targets, institutional investor activity ratings and consensus, analyst ratings and consensus as well as daily market analyses series. In addition, this broker also offers CFD trading on a wide variety of markets including stocks.


FXCM is an ideal broker for beginners as there are no large deposits required to start trading, with helpful customer managers always on-hand to offer guidance and assistance. In addition, this broker boasts cutting-edge educational technologies as well as an impressive selection of tools such as Autotrading and comprehensively supported indicators – ideal for newcomers to the world of trading!

FXCM was established in 1999 as an online Forex and CFD broker, and is regulated by several financial authorities, such as FCA in the UK and ASIC in Australia. Offering multiple trading platforms and supporting an assortment of third-party software applications, the company boasts an outstanding research section which incorporates both proprietary content as well as third party materials – however this section may not be as robust as some competitors’ offerings.


LCG is a UK-based forex broker offering traders with an array of trading products. Regulated by the FCA for over two decades, their fees are competitive while customer service excellence makes LCG an excellent choice for beginners.

LCG provides traders with two powerful platforms – MT4 and its proprietary offering – to access more than 7000 market instruments across 9 asset classes.

LCG provides traders with Negative Balance Protection (NBP), an excellent feature which safeguards them against losses incurred when trading CFDs with them. This should be one of their criteria when selecting an online broker.


Pepperstone is an award-winning forex broker that provides an exceptional trading experience. Their lightning-fast execution systems, multiple account types and competitive spreads make Pepperstone ideal for traders of any experience level, and the company boasts a comprehensive education catalogue and top-tier customer support.

The account opening process is straightforward and hassle-free for new traders. New traders will be asked to verify their identity by uploading photo identification and proof of residency documents in accordance with AML/KYC compliance requirements.

Pepperstone is an esteemed and reliable broker regulated by numerous top-tier regulators such as FCA in the UK and BaFin in Germany. Their excellent client services, outstanding reputation, established client base and membership of AFX Group add up to an exceptional experience for investors wishing to trade using a fully digital trading platform with multiple deposit/withdrawal options.

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