The 3 Golden Rules of Forex Trading
Successful forex traders aren’t born or made overnight. Here are the 3 golden rules that every trader should always keep in mind.
Best Forex Brokers
| Rank | Broker Name | Trust Score | Reviews |
|---|---|---|---|
| 1 | AvaTrade | 100 / 100 | AvaTrade Reviews |
| 2 | XM | 99 / 100 | XM Reviews |
| 4 | Plus500 | 89 / 100 | Plus500 Reviews |
Top forex brokers reviewed & rated
The table above represents our top 5 rated forex brokers for overall performance. We review and rate each forex broker through a manual process and also allow our users to submit their own reviews. We only list regulated forex brokers on our website.
New to forex trading? Your journey starts here
Start your forex trading career on the right foot. Avoid confusion and don't dive in! Forex trading is very challenging and definitely not a get rich quick scheme.
It's also extremely rewarding and you will experience a great sense of satisfaction when you are able to profit from the forex market.
We recommend new traders at the very least read our forex trading survival guide which sums up in a nutshell what you are in for.
We've spent our time to put together a list of the best forex brokers for many different categories which mean you can find the best forex broker for your particular needs.
Latest Articles Read all articles
The importance of trading with a regulated forex broker
When dealing with any financial product or service, it’s important to understand the background of the provider. In the forex trading market where many of the transactions take place online, many opportunities arise for rogue operators to start their own forex brokerage service. These operations typically try and lure customers by offering sign up bonuses […]
Mentality of a Forex Trader
Do you have the mental toughness to stay strong when you’re down? I find that us human beings for the most part are extremely predictable. We have a mob mentality and often follow, which actually makes life easier because only the minority become leaders. Imagine if most people wanted to lead, there would be chaos […]
What is Leverage in Forex?
Leverage refers to the facility provided by forex brokers to allow you to trade with more money than what’s actually in your account. It’s like a loan, and you are required to put up a deposit of your own funds to secure it. It is commonly known as the “double edged sword” in forex trading. […]
Identifying Flaws In Profitable Forex Systems
Disclaimer: BestForexBrokers.com and this report are not associated with myfxbook.com in any capacity. We have used publically available information from myfxbook.com to prepare this report and the views in this report are the opinions of BestForexBrokers.com only and do not in any way represent the views of any entities mentioned in this report. Report objective With […]
What are the best currency pairs for scalping?
The best currency pairs for scalping are EUR/USD, GBP/USD and USD/CHF due to their stability and liquidity. Forex scalpers trade very tight and can’t afford volatile market conditions. Therefore, our recommended currency pairs are the 3 majors which are known to be very stable in their price movements. Additionally, market liquidity is another very important factor as […]
Unbiased reviews you can trust
Looking for the best forex broker? Look no further. We aim to help you make the right decision by providing you with up to date information on our database of forex brokers. Our reviews are written by forex traders just like you and every claim is verified. After all, the Internet can be a place with a lot of false information. Our rules are simple and make it fair for both traders and the forex brokers.
Our simple rules
- Every forex broker on this website must be regulated / hold a license
- Every complaint by a user must be verified (must provide a user ID)
- Forex brokers have the right to respond
- Any deliberate attempt to manipulate or deceive users will result in immediate blacklisting
A lot of forex broker comparison websites tend to recommend the ones that are paying them the most money. We earn advertising and affiliate revenue, but that doesn't stop us from delivering unbiased opinions on our website.
Best Forex Brokers by Country
| Country | Regulatory Bodies |
|---|---|
| Australia | ASIC |
| New Zealand | FMA, FSPR, FSCL |
| South Africa | FSB |
| United Kingdom | FCA UK |
Quick tips on finding the best forex broker
Although every trader has different ideas on what defines a top forex broker, we are certain that the majority would agree that the safety of their funds is the most important. There have been too many cases where traders have either lost their money or found it extremely difficult to withdraw their own funds. A lot of these issues occur with forex brokers who are unregulated. This means, they are not licensed by a reputable financial regulator. We strongly advise against opening an account with any unregulated forex broker, no matter how good they may sound or sell themselves to be. A lot of them offer very enticing sign up bonuses which they can afford to do because they never intend on letting you withdraw your money!
The top forex brokers in the world are often regulated in multiple countries, most commonly Australia and The United Kingdom. Cyprus is another popular country for regulation.
If we were only allowed to provide 1 piece of advise on choosing a forex broker, we would say go with a broker who is regulated in either the UK, Australia or both would be ideal. These are reputable countries where English is the primary language and thus it would be easy to communicate with them.
Forex Broker Rankings by Category
| Category | Broker Name | Trust Score | Reviews |
|---|---|---|---|
| Best Overall Broker | XM | 99 / 100 | XM Reviews |
| Best No Deposit Accounts | InstaForex | 80 / 100 | InstaForex Reviews |
| Best Broker For Beginners | XM | 99 / 100 | XM Reviews |
| Best VIP Service | XM | 99 / 100 | XM Reviews |
| Lowest Spreads | FXGlobe | 88 / 100 | FXGlobe Reviews |
| Fixed Spreads | HotForex | 94 / 100 | HotForex Reviews |
| Best PAMM Accounts | XM | 99 / 100 | XM Reviews |
| Best Demo Accounts | London Capital Group | 99 / 100 | London Capital Group Reviews |
| Best Micro Accounts | XM | 99 / 100 | XM Reviews |
| Best Mini Accounts | HYCM | 74 / 100 | HYCM Reviews |
| Best Scalping Accounts | XM | 99 / 100 | XM Reviews |
| Best Islamic Accounts | XM | 99 / 100 | XM Reviews |
The above table contains the top ranked forex brokers in our database for each category. You can click a category to view more rankings for that category.
How are the ranks determined?
We provide an internal review and scorecard for every forex broker listed on our website, which can be viewed by clicking the broker’s name.
Our Trust Score system provides a fair way to compare every broker as they are all scored on the same criteria.
Our users also submit reviews which can also be viewed by going to the broker’s page. User scores are averaged and displayed where available.
Compare Forex Brokers
When it comes to comparing forex brokers, there are quite a lot of factors that you could compare. We'll list the most common comparison points below:
- Regulatory information
- Spreads
- Support methods and languages
- Banking methods
- Sign up and ongoing bonuses
- Trading platforms
- Types of accounts
With the major comparisons above and many more, it quickly becomes a difficult task to really put brokers side by side and make a decision. Our rankings system should help you narrow down your selections. We have a rankinkg list for different categories, as well as our own scoring system whereby we start each broker at 100 points and subtract points based on features that they don't have that we would expect a top forex broker to have.
Forex brokers who are listed on our website must be regulated with at least one regulatory body.