What are the Top Forex Brokers?

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Arran Brough

Arran has been a professional trader for over 4 years. He manages a portfolio of over $6 million and he focuses on achieving small consistent gains over time. Throughout this time he has built a community of like minded traders where he helps them to make it in trading. He Loves surfing and travelling and this is what made him learn trading so that he could travel the world and earn money anywhere.

I’d say that IG markets are a very reliable forex broker option, they offer low fees on forex and Index currencies and $0 minimum deposit and 0$ withdrawal fee, although their stock fee is relatively high.

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top forex brokers

When finding a forex broker, it is important to find a platform which suits you, whether this be your trading style or just general service. With so many brokers offering such great services you are spoilt for choice. 

What are forex brokers? 

A forex broker is afinancial services company that provides traders access to a platform for buying and selling foreign currencies. This is usually through CFDs and is the brokers own version of the financial markets, this is through analysing data to keep in tune with the live markets. 

What can you trade through brokers?

 Within a broker you will usually trade A CFD (Contract for Difference) is a derivative trading instrument. With CFDs, you simply speculate on the price movements of financial assets and have a profit/loss accordingly, meaning there are no physical good transferred. There are multiple markets to trade including indices, equities, currency pairs, commodities, and bonds. These speculations on price may differ with each broker. That is why it is important to pick one with good data and research as well as good spreads so that you are getting the most accurate market data and execution.  

Spreads and commissions

Each broker will have different spreads and commission, with many of the top brokers having free withdrawals it mainly comes down to the spreads. Brokers spreads will depend on what asset class you are trading, with some catering to forex pairs and some for indices, that’s why it’s important to take a compare. In addition to this you need to find a broker your comfortable using, you will be trading with real money and need to be sure your happy with how your doing so. That’s why I recommend finding a broker with good customer support and relatively quick withdrawals. (preferably with no fees)

Top Forex Brokers

IG Markets 

Having been around since 1974 IG markets has had plenty of time to build up its great reputation. Whether that being through winning countless awards or pleasing their many clients. It is easy to say that IG markets is one of the leading brokers in the world right now, however it is important to know why and whether it is best suited to you.  

I’d say that IG markets are a very reliable option, on top of that they also offer low fees on forex and Index currencies and $0 minimum deposit and 0$ withdrawal fee, although their stock fee is relatively high. Another great attribute to IG markets is their world class web trading platform with many educational tools and a user friendly experience.   

 Key features 

  • IG holds the highest trust score in forexbrokers.coms independent database and ranked as the most trusted broker for forex and CFDs in 2024. 
  • IG holds more than double the required regulatory capital as of its 2023 annual report, with a $498 million capital headroom buffer as of May 31 2023. 
  • They are one of the few publicly traded brokerages.  

2. Saxo

With many brokers competing for the lowest commission etc it is refreshing to see Saxo also focus on the customer experience. They offer perhaps the highest quality trading platform in the industry with there being many instruments to aid your trading. However this sophisticated trading platform means that amateur traders may be overwhelmed and want to try a simpler platform.  

I believe that Saxo markets is suited to a more intermediate trader who’s has experience in trading/brokerages before. This is because it has relatively high spreads/commissions in exchange for a high-tech trading platform and data which beginner traders may not be able to utilise. Although if you are experienced in trading or want to be in the deep end then saxo is rated as one of the leading brokerages specifically if you will utilise there expert trading platform.  

Key features 

  • Rated as a number 1 broker for advanced traders.
  • Saxo Markets offers traders a wide range of offerings, advanced user interfaces, and superior research amenities.
  • Relatively high account minimums, limited support options, and higher-than-average bottom-line trading costs make Saxo less than ideal for the smaller, lower-skilled trader.
  • Award-winning platform Benefit from integrated Trade Signals, news feeds and innovative risk-management features. As well as trading app. 

3. Etoro

When choosing a broker it important to pick one who specialises in the asset which you are trading. If you are looking to trade crypto Etoro may be the broker for you. In addition to being one of the only brokers to facilitate crypto they also offer a range of other ETFs, Stocks, which can be traded with 0 fees. However there is a ($5) withdrawal fee as well as a 12-month inactivity fee. 

The platforms active community and social features make it great for traders who like to converse with others or who are simply beginning trading and want to ask questions. However Etoro’s high crypto fee at 1% may be a little steep for some.   

Key features 

  • Smart portfolio and education 
  • $5 withdrawal fee 
  • No fees on stocks and etfs  
  • Crypto fees 

4. Oanda

Oanda has always advertised that they are all things currency, established in 1996 they offer anything from brokerage services, market data to currency conversion etc. They typically offer two account types, standard or advanced trader. With certain regions allowing spread betting which can be very useful for the main reason it being tax free trading in jurisdictions such as the UK. Most accounts will have industry standard spreads and commissions and they actually post this data here. 

 Having personally used oanda I can say that they are great to work with, their customer service has been some of the best I’ve had, and the desktop is great. However, some cons which are key to note are that there is a monthly inactivity fee in addition to deposit/withdrawal fees which many brokers do not have.  

Key features 

  • Social Trading available 
  • Copy Trading available. 
  • Trailing Stops 
  • Take Profit Orders 
  • World class data

5. Pepperstone

Pepperstone are a Australian brokerage founded in 2010 they offer a very high amount of forex pairs as well as indices and commodities, they also allow crypto trading (subject to country regulations). They are one of the most highly trusted brokerages at the moment with one the widest ranges of features. From low commission to multiple trading platforms to use, they seem to have it covered. However, it is key to note that they do not offer accounts to us clients at this moment.  

Fees and charges  

Pepperstone offers an account for almost every type of trader. With spreads from 0.0 pips and no inactivity fees it is easy to see why so many people enjoy their services. As well as no withdrawal fee meaning to can deposit and withdraw money whenever you with at no cost.  

Key features 

  • Great spreads, execution (averaging 30ms) and charting platform  
  • Award winning 24/7 customer support.  
  • Does not allow c-trader copy.  
  • Crypto trading is limited.  


After taking an in depth look at many brokers, I have come to realise that there are many excellent choices and it in fact up to personal choice alongside what best suits your trading. Whether you are looking solely for tight spreads or looking for the most well-rounded user experience there is definitely a broker for you. Just be careful when setting up the account that is the correct type that you want as brokers usually offer multiple.

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