In this article, we will talk about the best forex brokers and the criteria we used to choose the best forex brokers for traders.
The factors for selecting the Best Forex Brokers
There are 100+ factors that we consider when choosing the best forex brokers for traders. Some of these factors are:
- Regulations – This is one of the most important factors. The broker must be regulated by at least 1 tier 1 regulator. Few examples of tier 1 regulators are, Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) and Financial Markets Authority (FMA).
- Trading platforms – The broker should provide trading platforms that support PC, Mac, web, Android and IOS. Also, if the broker supports the TradingView trading platform, it is a plus. Most brokers do not support the TradingView trading platform.
- Customer service – Preferably the broker should provide 24/7 customer service but on minimum 24/5 customer support. The customer service has to be top-notch. The broker should provide multiple contact methods including, phone, email and live chat.
- Commissions – The broker should provide accounts that do not charge any commissions or really low commissions.
- Spreads – The spreads charged by the broker has to be low, but also depends on the type of account they provide.
- Trade execution speeds – The trade executions speed with the broker should be fast as possible.
- Community trust – The broker should have a good standing in the forex trading community.
- Much more – includes other fees, payment methods and more.
Best Forex Brokers List
The following are the list of top forex brokers in 2024. This list will always be kept up to date, as we review brokers frequently to keep the list high quality.
Broker | Review | Min Deposit | Spreads | Regulations | Account |
1. Fusion Markets  | $0 | From 0.0 pips | ASIC, VFSC | ||
2. BlackBull Markets  | $0 | From 0.0 pips | FMA, FSA | ||
3. FBS Broker  | $5 | From 0.7 pips | CySEC, IFSC and ASIC | ||
4. XM Broker  | $5 | 0.6 pips | ASIC, CySEC, IFSC, DFSA | ||
4. Pepperstone  | $0 | From 0.0 pips | FCA, ASIC, DFSA, CySEC, CMA, SCB, BaFin |
