1Forex.com - Best Overall broker
NameForex.com
Web site
Founded in2001
RegulatedFCA, CySEC, ...
Reviews25
Minimum Deposit100 $
Maximum Leverage1:50
Broker typeECN, MM
FOREX.COM FOREX BROKER DESCRIPTIONABOUT FOREX.COMFOREX.com is an international online forex broker founded in 2001. While only is F.X. trading is offered to US based clients, the platform supports Gol...
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Pros
    • Low forex trading fees with competitive spreads

    • Transparent fees and commission structure

    • The brokers accept US clients

    • Wide variety of forex pairs

    • Diverse educational and analysis tools

    • Beginner friendly navigation

    • Regulated in multiple jurisdictions and by top-tier regulatory bodies, including the CFTC, FCA, and CySEC


Cons
    • Limited trading markets

    • No negative balance protection for U.S. clients

Visit Site Between 69% and 77.% of retail investor accounts lose money when trading CFDs with this providerRead full review
2OANDA Corporation
NameOANDA Corporation
Web site
Founded in1996
RegulatedCFTC, NFA
Reviews17
Minimum Deposit-
Maximum Leverage1:50
Broker type-
OANDA CORPORATION Review SummaryABOUT OANDASupported CountriesDespite OANDA’s global presence, OANDA Corporation exclusively serves clients from the United States.Customer Service RatingOANDA is...
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Pros
    1. Accepts U.S. Clients: OANDA is among the few international online forex brokers that accept U.S. clients. This is noteworthy as many U.S. clients rarely have the opportunity to trade on licensed platforms while in their homeland. 
    2. Unique Platform Design: The broker's forex trading platform are unique, with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.
    3. Unique Trading Features: OANDA's web-based platforms feature TradingView, an advanced financial visualization platform, which is a significant advantage. This helps both novice and experienced traders make informed trading decisions.
    4. Excellent Trading Research Offering: OANDA's trading research offerings are excellent and uncommon for a retail trading platform. This platform includes economic analysis, real-time news feeds, calendars, and advanced data analytics.
    5. Seamless Registration Process: Opening an account on OANDA is straightforward, and the broker does not require a fixed initial deposit on the standard account.
Cons
    1. Service Irregularities: OANDA's financial offerings have some irregularities that may only suit some traders. For instance, negative balance protection is not available for U.S. clients, which means they may owe the broker money if their account balance is negative. Also, guaranteed stop-loss orders (GSLO) are not offered for U.S. or U.K. clients. Moreover, in the U.S., CFDs on individual stocks, ETFs, or industry sectors are unavailable, and customers are limited to CFD currency pairs.
    2. Ancillary Fees: Several ancillary fees are associated with OANDA's services, including a monthly inactivity fee, fees for withdrawals, bank wire transfers, and multiple debit card withdrawals in the same month.
    3. Limited Customer Service Support: OANDA’s customer support is limited since it is only available on weekdays. As a result, if a trading glitch occurs over the weekend, brokers must wait until the beginning of the week to report or seek assistance.
Visit Site OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.Read full review
3IG
NameIG
Web site
Founded in1974
RegulatedASIC, FCA, ...
Reviews8
Minimum Deposit-
Maximum Leverage1:200
Broker typeDMA, MM
Unique Selling PointsMarket Access and Asset Offerings: IG's market access and wide range of asset offerings make it a top choice for traders of all experience levels. The broker offers access to...
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Pros
    • Competitive Spreads: IG offers some of the most competitive spreads in the industry, especially for major forex pairs.

    • Wide Range of Assets: IG offers a wide range of assets, including forex, commodities, indices, and cryptocurrencies, allowing traders to diversify their portfolios.

    • Regulated Broker: IG is regulated by several reputable authorities, including the FCA and ASIC, providing traders with security and trust.

    • Advanced Trading Platforms: IG offers advanced trading platforms, such as MT4 and MT5, which are highly customizable and user-friendly.

    • Educational Resources: IG offers many educational resources, including webinars, trading guides, and video tutorials, to help traders improve their skills and knowledge.

Cons
    • Limited Payment Options: IG offers limited payment options, which may be inconvenient for some traders.

    • Inactivity Fee: IG charges an inactivity fee of £12 per month if there is no trading activity for two years or more, which may deter some traders.

    • No Social Trading: IG does not offer social Trading, which may be a disadvantage for traders who prefer to follow and copy the trades of successful traders.

    • No Guaranteed Stop Loss: IG does not offer guaranteed stop loss, which may increase the risk for traders during volatile market conditions.

Visit Site CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.Read full review
4XM Broker Review - XM.COM | TopBrokers.com
NameXM
Web site
Founded in2009
RegulatedASIC, FSC Belize, ...
Reviews68
Minimum Deposit5 $
Maximum Leverage1:1000
Broker typeMM
XM is a trading name for Trading point holdings that has its headquarters in Cyprus with other branches in the United Kingdom and Australia.Trading AccountsXM broker has three account types for its ma...
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Pros
  • 1. XM Global offers 24/5 customer support

    2. 1000+ trading instruments

    3. Low withdrawal fees

    4. Educational content

Cons
  • 1. Limited platform options (only offering MetaTrader)

    2. This XM review discovered that the broker charges Inactivity fees

5AVATrade
NameAVATrade
Web site
Founded in2006
RegulatedASIC, CBI, ...
Reviews16
Minimum Deposit100 $
Maximum Leverage1:400
Broker typeNDD
Unique Selling Points1. Multiple Partnership Programs: AVATrade offers several types of partnerships, so you can choose the one that best suits your needs and goals. You can join as an Introducin...
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Pros
    • Regulated by multiple financial authorities, ensuring the safety of client funds and providing a high level of transparency in their operations.

    • Offers a wide range of assets for trading, including Forex, stocks, indices, commodities, cryptocurrencies, bonds, and ETFs.

    • Provides multiple trading platforms, including the popular MetaTrader 4 and 5 platforms, AVATrader, and their proprietary mobile app, AvaTradeGO.

    • Provides a wide range of payment methods, including bank transfers, credit/debit cards, e-wallets, and other online payment systems.

    • Offers educational resources, including webinars, video tutorials, and trading guides, to help traders improve their skills and knowledge.

Cons
    • Variable spreads may widen during volatile market conditions, leading to higher trading costs for traders.

    • Charges swaps/rollovers for holding positions overnight, which can add to the trading costs.

    • Commission fees may apply for certain instruments, such as stocks and ETFs. Does not accept clients from the USA and Canada.

6Pepperstone
NamePepperstone
Web site
Founded in2010
RegulatedASIC, FCA, ...
Reviews7
Minimum Deposit-
Maximum Leverage1:400
Broker typeNDD, ECN
IntroductionPepperstone is an Australian-based online foreign exchange and contracts for difference (CFD) broker founded in 2010. Pepperstone reviews consider the broker reputable because of its avail...
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Pros
    • Well-regulated: Pepperstone is regulated by top-tier watchdogs, further increasing its credibility. Five regulatory licenses prove that the broker conforms to high standards of financial operations and that its clients' investments and funds are secure.

    • Offers multiple account types: Variety is the spice of trading, and traders need to be able to choose their preferred trading account as this influences their trading journey. Thankfully, Pepperstone offers traders account variety.

    • Advanced charting: Pepperstone provides traders with advanced charting tools to examine markets and make well-informed trading choices. These tools include multiple chart types, technical indicators, and drawing tools.

    • Social trading option: Pepperstone offers its clients social trading through its partnership with the third-party platform, DupliTrade.

    • Transparent pricing: Pepperstone is transparent in its pricing, and there has been no report of hidden charges or fees

    • Multilingual trading apps: Pepperstone fx has a distinct trading app that is particularly unique for its available translation. The Pepperstone mobile trading app is available in 22 languages.

Cons
    • Limited educational resources: Compared to other brokers, Pepperstone's educational resources are insufficient for novice traders looking for extensive trading materials to navigate the financial ecosystem.

    • Limited Demo account access: Pepperstone demo account is only available for 30 days. This implies that traders cannot access it after the expiration period. 

    • Inactivity Fee: It's not uncommon for brokers to charge inactivity fees on accounts that have not been operational for a while with Pepperstone; however, the charges are higher than the industry average. The broker charges an inactivity fee of $15 per month.