Forex and CFD broker comparison

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

The information displayed on this page is presented on an indicative basis. It relies on the data published by brokers on their respective websites and there may be a lag in the updating of their data on this broker comparison page.

(information last updated on 29 August 2024)


Social trading comparison  Quebec and Canadian brokers

Forex brokerYear foundedCountryRegulated by**Free demoNegative balance protectionSTP execution*Islamic accounts
2001United Kingdom / AustraliaFCA, ASIC, CySEC30 Dayso
o
o
2006IrelandASIC, CBFSAI, FRSA, BVI FSC, FSCA, JFSA21 Dayso
n
o
2001CyprusCySEC, ASIC, FSA, BVIUnlimitedo
n
o
2009Australia, BahamasASIC, SCBUnlimitedo
o
n
FPMarkets2005Australia, CyprusASIC, CySEC30 Days o
o
2005UK / NevisFCA, FSPR, ASICUnlimited o
L2
o
2010CyprusCySEC, FCA, DFSA, FSCA, FSAUnlimitedo
o
o
2010UK / AustraliaFCA, ASIC, CySEC, BaFin, DFSA, SCB, CMA30 Dayso
o
o
2008IsraelFCA (#509909), ASIC, FSCA, FMA, CySEC, MAS, FSA Seychelles, DFSA, EFSAUnlimitedo
n
n
2009
2015
2017		Cyprus
Australia
Belize		CySEC
ASIC
IFSC		Unlimitedo
n
o
2002Poland / United KingdomFCA, KNF, CySEC, BIFSC, CNMV, DFSA, FSCA30 Dayso
o
o

*An STP (Straight-Through-Processing) broker provides direct access to the interbank market, it does not intervene in the execution of orders (No Dealing Desk).
**ASIC: Australia, BaFin: Germany, BIFSC: Belize, BVI FSC: British Virgin Islands, CBFSAI: Ireland, CNMV: Spain, CMA: Kenya, CySEC: Cyprus, DFSA: Dubaï, FCA: United Kingdom, FRSA: Abu Dhabi, FSA: Seychelles, FSC: Mauritius, FSCA: South Africa, FSPR: New Zealand, IFSC: Belize, JFSA: Japan, KNF: Poland, SCB: Bahamas
Plus500: CFD Service. 82% of retail CFD accounts lose money.

Forex BrokerTrading platformMin. Lot (EUR/USD)Max. Lev.
(individuals)		Max. Lev.
(professionals)		 Scalping HedgingOCOTrailing Stop
  MetaTrader 4 and 5  100030:1500:1o
o
o
o
  MetaTrader 4
  ActTrader		  100030:1400:1n
o
o
o
  MetaTrader 4 and 5
  easyMarkets		  500030:130:1o
o
n
o
  MetaTrader 4 and 5,
  WebTrader, TradingView		  1000500:1500:1o
o
n
o
FPMarkets  MetaTrader 4 and 5,   IRESS, Webtrader  1000300:1500:1o
o
o
o
  MetaTrader 4 and 5  10030:1500:1o
o
n
o
  MetaTrader 4 and 5  100030:11000:1o
o
n
o
  MetaTrader 4 and 5,
  TradingView, cTrader		  100030:1500:1o
o
o
cTrader		o
  Plus500  varies30:1300:1n
o
n
o
  MetaTrader 4 and 5  100030:1500:1o
o
n
o
  xStation 5  1000030:1500:1o
o
n
o

 

NameSocial Trading MQL5 SignalsZuluTradeAutochartistTrading CentralFree VPS
 o
 o
o
 
 o
o
 
 o
  
 
o
o
   o
FPMarkets o
 o
 o
o
o
o
  o
o
o
o
o
 o
o
Duplitrade, Myfxbook		o
 o
 o
      
 o
   o
    
 

 

Note: Although deposit minimums listed below are listed in US dollars or in euros, these brokerage firms usually welcome traders from any country, no matter what your national currency is. Use the Forex-Central.net currency converter to calculate these minimums in your currency.
Forex BrokerMin. Deposit BankBT*CC*PP*Sk*WB*NT*
100€/$/£Barclays UKo
o
 o
 o
100€/$/£ Commerzbank Germanyo
o
o
o
o
o
100€/$/£Barclays UK, Ingenico Germanyo
o
 o
o
o
100€/$/£ o
o
o
o
 o
FPMarkets100 USD/€/AUDCommonwealth Banko
o
o
o
 o
1€/$/£ Baltikums, Latviao
o
 o
o
 
50€/$/£Barclays UKo
o
 o
 o
200€/$/£Local bank transferso
o
o
o
 o
100€/$/£ o
o
o
o
  
5€/$/£Barclays Cypruso
o
 o
o
o
1€/$/£HSBCo
o
o
   

*(BT: Bank Transfer) - (CC: Credit Card) - (PP: Paypal) - (Sk: Skrill/Moneybookers) - (WB: WebMoney) - (NT: Neteller)


Forex BrokerCurrenciesMetalsCommoditiesCrypto-currenciesShare CFDs Index CFDsFunds / ETF Bonds
47 pairs610224,425273852
55 pairs5121471931212
115 pairs261217 15  
40+ pairs22250+350+10  
FPMarkets50 pairs41512,00020  
28 pairs2343 13  
51 pairs23 5312 3
61 pairs11171890025 107 
61 pairs312 1,8102380 
55 pairs28 1,00018  
49 pairs721251,727261513

*Plus500: Availability subject to regulation. Also, cryptocurrency trading is not available to UK retail clients.

Spread in pips *EUR/USDEUR/GBPGBP/USDEUR/CHFUSD/CADUSD/CHFUSD/JPYGBP/JPYEUR/JPYAUD/USDGold
~ 0.6~ 1~ 1~ 3.8~ 1.6~ 2.9~ 0.9~ 2.5~ 1.6~ 120
~ 0.9~ 1.5~ 1.6~ 2~ 2~ 1.6~ 1.1~ 2.5~ 1.8~ 1.1~ 34
1.8**3**3**4**3.5**2.8**2.6**6**3**2.6**50**
1***1***1***1***1***1***1***1***1***1*** ~ 12
FPMarkets~ 1.45~ 1.67~ 1.85~ 2.31~ 2.07~ 2.22~ 1.5~ 2.47~ 1.89~ 1.66~ 72
~ 1.1~ 2.3~ 1.6~ 3.9~ 2.1~ 1.9~ 1.1~ 2.2~ 2~ 2.5~ 34
~ 1.2~ 1.8~ 1.8~ 1.9~ 2.1 ~ 1.9~ 1.7~ 3~ 1.7~ 1.5~ 19
~ 0.69~ 1.36~ 0.88~ 1.69~ 0.95~ 0.92~ 0.25~ 2.23~ 1.41~ 0.17~ 13
variablevariablevariablevariablevariablevariablevariablevariablevariablevariablevariable
~ 1.7~ 1.8~ 2.5~ 2.7~ 2.4~ 2.4~ 1.8~ 4.1~ 2.7~ 1.8~ 35
~ 0.9~ 2.1~ 2.5~ 2.3~ 2.2~ 1.9~ 1.8~ 5.5~ 2.3~ 1.9~ 35

* With most brokers, spreads are variable. They depend on current market conditions and can change at any time.
** easyMarkets offers variable spreads on MT5 - click on the easyMarkets logo to view their spreads on their website.
*** these are minimum spreads - no average spread is given for the Standard account..

DMA/STP brokersSpread + Commission for 1 standard lot (100k)Min. Deposit
interbank spreads + $3.60 to $6.00 USD$100 (or equiv.)
interbank spreads + $3.50/lot or 2.25£/lot or 2.75€/lot$100 (or equiv.)
FPMarketsinterbank spreads + $3.50 AUD per lot$100 AUD (or equiv.)
interbank spreads + $3 to $10$1,000 (or equiv.)
interbank spreads + $7.00€1 (or equiv.)

How do I compare brokers and how do I choose a broker?

Is the broker reputable and regulated?

The most important thing to consider when choosing a broker is the company's reputation and regulation. Reputable brokers are supervised by one or more financial regulatory bodies, such as the FCA (Financial Conduct Authority) in the UK or the AMF (Autorité des Marchés Financiers) in France. This type of body aims to ensure the honesty of the broker and to protect its clients by ensuring that the company complies with the financial laws of its jurisdiction designed to protect retail traders. Regulators can also review the broker's internal procedures, handle trader complaints, and make sure that the broker keeps client funds separate from their own funds.

Depending on their jurisdiction, clients of certain brokers may also have their funds protected by compensation schemes. In the UK, for example, forex brokers must insure clients' deposits against insolvency up to £85,000 under the Financial Services Compensation Scheme. In Europe, retail traders are generally covered up to €20,000, although some countries offer more. Some brokers also offer additional insurance free of charge to cover clients if the statutory deposit insurance is deemed insufficient.

All brokers listed on this site are duly regulated by a financial regulatory agency. You can also check a broker's website to double-check the name of their regulatory authority. Their regulatory registration number should also be listed, so you can check the status of their approval to conduct business.

What are the broker's trading instruments?

Each broker offers access to markets such as currencies, stocks, indices, commodities and bonds. You can trade or invest in these stock markets via different contracts:

If you prefer to use your trading strategy within a specific set of markets, it makes sense to ensure that the broker offers a competitive trading service for these markets.

What are the brokerage fees?

Typically, brokers charge three different types of fees: spreads (the difference between the buy/sell price), volume commissions and swaps to hold positions overnight.

Most brokers don't charge all of these fees, and Islamic accounts typically don't come with swap rates. Still, it's a good idea to check out what the broker's fees are and make sure that they are in line with your trading style.

Does the broker offer the right type of trading platform and chart tools?

Although trading platforms enable traders to trade stocks and/or currencies, they can vary widely in terms of their features, their look and their target audience.

Trading platforms such as MetaTrader 4 and MetaTrader 5 are very popular. They offer advanced features such as automated trading and the back-testing of trading strategies using historical data.

Many platforms also offer a powerful set of charting tools, as well as the ability to add technical indicators to charts. Some platforms even allow you to create your own custom indicators if you know how to program or if you can find a third party to do it for you.

Choosing the best trading platform for your needs will largely depend on how much trading experience you have, the type of trading plan you use, and the assets you wish to trade.

For example, traders who primarily use technical analysis may want a platform with great charting capabilities and real-time data, while fundamental or news traders may prefer a platform with a high-quality financial news feed.

In general, a good way to compare trading platforms is to open several demo accounts (which use virtual money). You can then test them to determine which platform best suits your style of trading and market analysis.

Broker trade execution models

Another key consideration when comparing brokers is how well they execute traders' orders and the transparency of their execution.

For some traders, another important factor when choosing a broker is whether or not they take the other side of a trade and therefore have a conflict of interest when dealing with their clients.

Most brokers operate under one of the following four models, although some use a hybrid structure incorporating aspects of two or more models. It is useful to know how these models work so that you can choose the best broker with the execution method you prefer to use in your trading activity.

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