In this article, we will talk about 5 best forex brokers for day trading. All the brokers we are going to talk about here are great, so you won’t go wrong with any of them.
What type of brokers are best for day trading?
The best broker for day traders depends on their trading style and how often they trade. If you trade frequently, a broker with low spreads is ideal. If you only trade occasionally, a commission-based broker might be a better option.
In addition to fees charged, we also considered other factors such as trading platforms provided, regulations, customer service and speed of trade execution when choosing the best brokers for day trading. The following are 5 best forex brokers for day trading. Each of these brokers have specific advantages over the other.
1. BlackBull Markets
Assets Available | 6 Asset Classes – Forex, Commodities, Equities, Indices, Metals and Cryptocurrencies. |
Regulated By | FMA, FSA |
No. Of Trading Platforms | 6 main trading platforms – TradingView, MetaTrader 4, MetaTrader 5, cTrader, BlackBull CopyTrader and BlackBull Invest |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips (depends on account type) |
Commission | From 0% (depends on account type) |
Min Deposit | $0 |
Demo Account | Yes |
Education Provided | Provides basic education including trading tutorials, webinars, etc |
Methods of Payment | Visa, Mastercard, Bank Transfer, Airtm, Crypto, Neteller, Skrill, HexoPay, AMEX, SEPA, Poll, PaymentAsia, Help2Pay, FXPay, FasaPay, China Union pay, Boleto, Beeteller, AstroPay |
Open Account |
BlackBull Markets broker is a great broker for day trading. The BlackBull markets broker was founded in 2014 in Auckland, New Zealand.
The BlackBull markets broker is regulated by 2 financial regulators, including a tier 1 financial regulator. These are, Financial Markets Authority (FMA) in New Zealand and Financial Services Authority (FSA) in Seychelles.
The BlackBull markets broker is also a known for its speed of trade execution. The BlackBull markets broker achieved an average execution speeds of less than 75 milliseconds.
This broker provides traders with 3 main account types. These are ECN standard account, ECN prime account and ECN Institutional account. The ECN standard account is a no commission account with spreads starting from 0.8 pips.
The ECN prime account charges a commission of $6 per lot and the spreads starts from 0.1 pip. For the ECN institutional account, the spreads start from 0.0 pips and the commission charged is $4 per lot.
The BlackBull Markets broker provides a maximum leverage of up to 1:500. If you prefer trading with high leverage, the FBS broker will be more suitable for you.
When it comes to customer support, the BlackBull markets broker provides traders with 24/7 customer support. You can contact this broker through email, phone and live chat.
To get started trading with the BlackBull markets broker, you do not require a minimum deposit. If you are interested in learning more about the BlackBull markets broker, check our full review here or watch the video below.
2. Fusion Markets
Assets Available | 5 Asset Classes – Forex, Crypto, Stocks, Commodities, Indices. |
Regulated By | ASIC, VFSC |
No. Of Trading Platforms | 4 Trading Platforms – TradingView, MT4, MT5, cTrader |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From $0 |
Min Deposit | $0 |
Demo Account | Yes |
Education Provided | Educational Blog |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, PayPal, etc. |
Open Account |
Fusion Markets is another great broker for day trading. This broker is known for offering low fees for traders. The Fusion Markets broker was founded in Melbourne, Australia, back in 2017.
Fusion Markets is a trustworthy broker regulated by top-tier authorities. They’re overseen by the Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
The Fusion Markets broker provides traders with 4 main account types. These are Zero Account, Classic Account, Demo account and Fusion Pro account. For the zero account, the spreads start from 0.0 pips and the commission charged is $2.25 commission per side. For the classic account, the spreads start from 0.9 pips and no commission is charged.
The Fusion Markets broker offers traders with a range of trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and TradingView.
Fusion Markets offers traders 24/7 customer support. You can contact their support team by email, phone, or live chat.
Fusion Markets offers a maximum leverage of up to 1:500. There’s no minimum deposit required to start trading with them.
If you are interested in learning more about the Fusion Markets broker, check our full review here or watch the video below.
3. FBS Broker
Assets Available | 5 Asset Classes – Forex, Metals, Indices, Energies, and Stocks |
Regulated By | CySec, IFSC and ASIC |
No. Of Trading Platforms | 3 main trading platform. MetaTrader 4, MetaTrader 5 and FBS Trader |
Leverage | Up to 1:3000 |
Spreads | Starts from 0.7 pips (Standard Account) |
Commission | Starts from 0% |
Min Deposit | $5 |
Demo Account | Yes |
Education Provided | Guide books and webinars. |
Methods of Payment | Bank Wire Transfers, Credit Card/Debit Cards, Skrill, Neteller, Perfect Money, Sticpay and Cryptocurrencies |
Open Account |
The FBS broker is another great broker for day trading that is best for high leverage trading. This broker offers a maximum leverage of up to 1:3000 depending on the country that you are trading from.
The FBS broker was founded in 2009 in Belize. The FBS broker is a highly regulated by several financial authorities, including the top tier Australian Securities and Investment Commission (ASIC).
The FBS broker offers traders with only one main account type, called the Standard account. For this account type, the spreads start from 0.7 pips and the commissions charged from 0%. In addition to the Standard account, there is a cent account as well for traders with low capital in certain countries.
This broker provides traders with 3 main trading platforms. These are MetaTrader 4, MetaTrader 5 and FBS Trader.
FBS broker provide traders with great customer support 24/7. Traders can contact the FBS broker through phone, email and live chat.
To start trading with the FBS broker, you only require a minimum deposit of $5. If you are interested in learning more about the FBS broker, check our full review here or watch the video below.
4. AvaTrade
Assets Available | 7 Asset Classes – Forex, Crypto, Stocks, Commodities, Indices, ETFs, bonds. |
Regulated By | ASIC, FSCA, FSA, ADGM, FRSA, ISA, CySEC, CBI |
No. Of Trading Platforms | 8 Trading Platforms – TradingView, MT4, MT5, AvaOptions, AvaSocial, DupliTrade and ZuluTrade |
Leverage | Up to 1:400 |
Spreads | Around 0.9 for Majors |
Commission | 0% |
Min Deposit | $100 |
Demo Account | Yes |
Education Provided | Trading courses provided |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, WebMoney, PayPal |
Open Account |
AvaTrade is a highly regulated broker that is also great for day trading. AvaTrade broker was founded in Dublin, Ireland in 2006.
AvaTrade boasts a massive global customer base of 400,000, who generate over two million trades every month.
The AvaTrade broker offers traders with 8 different trading platforms. Including the popular MetaTrader 4 and MetaTrader 5 trading platforms.
AvaTrade also offers a mobile trading platform call the AvaTrade Go for traders who prefer mobile trading.
The AvaTrade broker provides traders with 24/5 customer support. Traders can contact the AvaTrade customer support through email, phone and WhatsApp.
The AvaTrade broker provides traders with 2 main account types. These are the retail trader account and professional trader accounts. They also provide an Islamic account for Islamic traders as well.
For the retail account, the AvaTrade broker does not charge a commission and the spreads are around 0.9 pips for the Major currency pairs.
The maximum leverage provided by the AvaTrade broker is up to 1:400. This is only applicable for international retail clients and professional clients.
To start trading with the AvaTrade broker, you require a minimum deposit of $100. If you are interested in learning more about the AvaTrade broker, check our full review here or watch the video below.
5. IC Markets
Assets Available | 6 Asset Classes – Forex, Commodities, Indices, Shares, ETFs, Cryptocurrency. |
Regulated By | ASIC, FCA, CySEC, DFSA, CMA, SCB, and BaFin |
No. Of Trading Platforms | 5 Trading Platforms – TradingView, MT4, MT5, Pepperstone trading platform, cTrader. |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $0 |
Demo Account | Yes |
Education Provided | Guide for beginners |
Methods of Payment | Visa, Mastercard, Bank transfer, BPay, PayPal, Neteller, Skrill |
Open Account |
The IC markets broker is also a great broker for day traders. IC markets was founded in 2007 in Sydney, Australia.
The IC markets broker is regulated by several financial regulators, including the Cyprus Securities and Exchange commission (CySEC).
IC markets provides a maximum leverage of up to 1:500 depending on the country that you are trading from.
When it comes to customer support, the IC markets broker provides 24/7 customer service. Similar to other brokers in this list, you can contact the IC markers broker through live chat, email and phone.
IC markets provides traders with 3 main account types. These are cTrader & TradingView raw spread account, Metatrader 4 raw spread account and standard account.
For both the raw spread accounts, the spreads start from 0.0 pips. But the commission is a bit different. The commissions charged for the meta trader raw spread account is $3.5 per lot per side, and the commission charge for the cTrader/TradingView raw spread account is $3.0 per lot per side.
To trade with the IC markets broker, a minimum deposit of $200 is required. If you are interested in learning more about the IC Markets broker, check our full review here or watch the video below.
Conclusion
In this article, we talked about 5 great regulated brokers for day trading. All these brokers provide great features for day traders.
