General

The Best Forex Brokers | Review and Ranking

Introduction

This site explains Forex Brokers from the perspective of a trader.
>>See author’s profile

The minimum condition that I mentioned in [How to choose the best broker?] is following.

Point:
  • Regulated by trustworthy authority
  • Provides negative balance protection system
  • Provides bonus programs
  • Provides attractive products

Following this, I picked up some easy-to-use and trustworthy brokers.

Please remember. The best broker will be decided depending on what you want from the broker, what kind of product you want to trade, and so on. Choose the best one that suits your investment style.

Let’s get started!!

What is a Forex Broker?Explaining about Forex brokers from the perspective of a trader who really uses them. Also describing the features, advantages, disadvantages, criteria for choosing, as well as particularly high leverage, luxury bonuses and risks. ...

Forex Brokers and Evaluation

Forex brokers I recommend are followings.

Each has its own characteristics, but I believe there is no problem which of the 10 companies here you choose. Since I set importance to bonus programs as an evaluation standard, the evaluation is relatively low for those who do not have a bonus program, but that does not mean that they are not good brokers.

Spreads and fees depending on the product you are trading. In this table, I evaluated the average spreads in STP accounts of the major currency pairs EUR/USD and USD/JPY. Please check each official website for details.

Let’s take a look at the characteristics of each broker.

Forex Brokers Overview

XM

XM is popular all over the world.

You can get a lot of information on XM website and the explanations are very easy to understand.
There are plenty of learning materials, including webinars and MT4 tutorial videos.

Recommended for such traders!
  • Want to use popular broker
  • Need a lot of information on internet
  • Beginners

Overview of XM

Regulated byASIC (Australia), IFSC (Belize), CySEC (Cyprus)
Max Leverage1:888
ProductsForex:57, CFD:41
Bonuses3 Types (Non-deposit, Deposit, XMP)
Spreads *STP/Avg.1.6pips/EURUSD, 1.6pips/USDJPY
Commission *ECN$7/lot
  • High corporate safety and reliability
  • High quality of support
  • Wide spreads


If you can’t decide a broker, you can start with XM for the time being. If you search on the internet, there is a lot of information, so it may be said that it is for beginners. I’ve been using it for years and nothing strange has happened for now.

Since the spread is wide, it is not suitable for trading that accumulates small profits by scalping.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

XM | Forex Broker ReviewIs XM a good broker? Are they scammer? Review from trader's point of view who really use XM. ...
XM | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

FXGT

Although it is a start-up company that started operations in 2019, it is gaining momentum and increasing the number of accounts.

It is famous for high leverage trading of cryptocurrencies, but the trading conditions of ordinary currency pairs are not bad.

Recommended for such traders!
  • Want lower spread than XM
  • Want to trade cryptocurrency with high leverage

Overview of FXGT

Regulated byFSA (Seychelles)
Max Leverage1:500
ProductsForex:48, CFD:13, Crypto:28, Stocks:53
Bonuses2 Types (Non-deposit, Deposit)
Spreads *STP/Avg.1.4pips/EURUSD, 1.4pips/USDJPY
Commission *ECNN/A
  • Handles cryptocurrencies with high leverage
  • Many deposit and withdrawal methods, no fees
  • New broker, not much information


The biggest feature of FXGT is that it is possible to trade cryptocurrencies in addition to currency pairs.

No other trader can trade Bitcoin with a leverage of 500 times. It will be a powerful broker for those who want to trade cryptocurrencies.

Of course, FXGT also handle ordinary currency pairs.

FXGT is still a new broker, so we cannot find as much information on the internet like XM.
FXGT has been founded by the members who founded XM, and its slogan is “Overthrow XM.”
The spread is narrower than XM, and I’m sure it will grow in the future.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

FXGT | Forex Broker ReviewIs FXGT a good broker? Are they scammer? Review from trader's point of view who really use FXGT. Ultimately you can decide FXGT is suitable for you or not!...
FXGT | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

FBS

FBS is also a sponsor of FC Barcelona and is well known in the world.
Due to its high leverage and low fees, it is extremely popular in the world.


When you open an account with FBS, you will receive one lesson email per day (6 in total). The first theme is “What is Forex?”, and you can see amazing attitude towards beginners.

Recommended for such traders!
  • Trade major currency pairs such as EURUSD
  • Take advantage of high leverage up to 3000 times

Overview of FBS

Regulated byIFSC (Belize), NAFD (Russia)
Max Leverage1:3000
ProductsForex:37, CFD:10, Crypto:5, Stocks:66
Bonuses3 Types (Non-deposit, Deposit, Cashback)
Spreads *STP/Avg.1.1pips/EURUSD, 2.0pips/USDJPY
Commission *ECN$6/lot
  • Narrow spreads on major currency pairs
  • World-famous and trustworthy
  • Wide spreads on minor currency pairs

Spreads for minor currency pairs such as USDJPY are quite wide, but major currency pairs such as EURUSD and GBPUSD are very narrow. Recommended for those who mainly trade major currency pairs.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

FBS | Forex Broker ReviewIs FBS a good broker? Are they scammer? Review from trader's point of view who really use FBS. Ultimately you can decide FBS is suitable for you or not!...
FBS | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes! ...

GEMFOREX

Manny Pacquiao, Philippine hero is Gemforex ambassador.
Gemforex often do gorgeous promotions such as limited-time bonuses.

Gemforex has been founded by Japanese person in 2010. So they are very famous in Japan.

Recommended for such traders!
  • The bonus should be gorgeous
  • Fees should be cheaper
  • EA (Automated trading tool) can be used for free

Overview of GEMFOREX

Regulated byNew Zealand
Max Leverage1:1000
ProductsForex:31, CFD:14
BonusesNone
Spreads *STP/Avg.1.3pips/EURUSD, 1.3pips/USDJPY
Commission *ECNN/A
  • Fixed and narrow spreads
  • Provides EA for free
  • Not much products
  • No bonus programs (Only for Japan market)

GEMFOREX is a company founded by Japanese people. It is not so well known overseas, but it is fairly famous in Japan.
The spread is fixed and narrow, so I think it is good for those who emphasize costs.

GEMFOREX didn’t have a financial license until 2019, but with the approval of the New Zealand financial authorities, their credibility has increased.

Also, GEMFOREX provides EA tools for free. It’s very unique that Forex brokers themselves offer it for free. GEMFOREX should be a candidate for traders who want to use EA.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

GEMFOREX | Forex Broker ReviewIs GEMFOREX a good broker? Are they scam or safe? Review from trader's point of view who really use GEMFOREX. Ultimately you can decide GEMFOREX is suitable for you or not!...
GEMFOREX | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

HotForex

HotForex is very famous and has a high reputation.
HotForex is licensed by the financial authorities of many countries and can be said to be a reliable broker.

Recommended for such traders!
  • Want to use the world’s leading and popular broker
  • Want to use a gorgeous bonus programs

Overview of HotForex

Regulated byCyprus, RSA
Max Leverage1:1000
ProductsForex:53, CFD:38, Crypto:12, Stocks:56, Bond:3
Bonuses2 Types (Non-deposit, Deposit)
Spreads *STP/Avg.1.2pips/EURUSD, 1.7pips/USDJPY
Commission *ECN$5~$8
  • Many financial licenses
  • Highly evaluated
  • Gorgeous bonus
  • Many products (Especially CFD)
  • Nothing special

HotForex is one of the largest brokers in the world, with FPA (the world’s largest Forex community) rating of 3.744 points, far exceeding XM. (XM is 2.982, as of September 2020)

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

HotForex | Forex Broker ReviewIs FotForex a good broker? Are they scammer? Review from trader's point of view who really use HotForex. Ultimately you can decide HotForex is suitable for you or not!...
HotForex | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

TitanFX

TitanFX has been founded in 2014. The biggest feature is the low fees.
On the contrary, there is no bonus at all, but I think it is still worth trying.

Recommended for such traders!
  • Fees should be cheap anyway
  • Support should be generous

Overview of TitanFX

Regulated byVanuatu
Max Leverage1:500
ProductsForex:60, CFD:36, Stocks:65
BonusesNone
Spreads *STP/Avg.1.2pips/EURUSD, 1.33pips/USDJPY
Commission *ECN$7/lot
  • Quite narrow spreads
  • 24 hours support
  • No bonus programs

Due to the low fees, a lot of traders choose TitanFX. TitanFX is a broker suitable for short-term trading such as scalping. There are no campaigns or bonuses, but considering the long-term use, it can be said that the low commissions will pay off.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

TitanFX | Forex Broker ReviewIs TitanFX a good broker? Are they scam or safe? Review from trader's point of view who really use TitanFX. Ultimately you can decide TitanFX is suitable for you or not!...

LAND-FX

LAND-FX has been founded in 2013, it is popular due to its low fees and is steadily increasing the number of accounts.

Recommended for such traders!
  • Fees should be cheap anyway

Overview of LAND-FX

Regulated byEngland, New Zealand
Max Leverage1:500
ProductsForex:67, CFD:22
Bonuses2 Types (Deposit *2 types)
Spreads *STP/Avg.0.8pips/EURUSD, 0.8pips/USDJPY
Commission *ECN$7/lot
  • Quite narrow spreads
  • Many minor currencies are handled
  • Withdrawal fee is needed

LAND-FX is a popular trader because of its overwhelmingly low commissions, which keeps other companies away. Not only that, but due to the speed of contracts and the large number of minor currencies handled, the number of users has increased rapidly as an advantageous trader for scalping.

Please note that the deposit fee is free, but the withdrawal is charged. For overseas bank transfers, you will be charged $ 45.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

LAND-FX | Forex Broker ReviewIs LAND-FX a good broker? Are they scam or safe? Review from trader's point of view who really use LAND-FX. Ultimately you can decide LAND-FX is suitable for you or not!...
LAND-FX | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

Axiory

It is very popular due to its low transaction fees and good support.

The website based on the corporate color purple is beautiful.
There is a lot of information on the site. Negative balance protection system, difference in fees depending on the transaction method and products and so on. You can see the attitude of valuing Forex beginners.

Recommended for such traders!
  • Fees should be cheap anyway
  • Support should be generous

Overview of Axiory

Regulated byBelize
Max Leverage1:400
ProductsForex:61, CFD:19, Stocks CFD:78
BonusesNone
Spreads *STP/Avg.1.2pips/EURUSD, 1.3pips/USDJPY
Commission *ECN$6/lot
  • Narrow spreads
  • Full support system
  • No bonus programs

Spreads are quite narrow.
Axiory has been founded in 2007 and is a popular broker among traders all over the world, I’ve never heard any bad rumors such as refusal to withdraw. The support is also generous, I think this is also the reason for its popularity.

There are no bonus programs, but what’s still popular is evidence that many traders consider the benefits above to be greater.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

Axiory | Forex Broker ReviewIs Axiory a good broker? Are they scam or safe? Review from trader's point of view who really use Axiory. Ultimately you can decide Axiory is suitable for you or not!...
Axiory | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

Tradeview

Founded in 2004, it is in the long-established category.
It is a highly regarded broker all over the world.


There are not much information on website, and there are four types of trading platforms that are used, so it is difficult for beginners to understand. But due to the low fees, it is a broker that deserves long-term use.

Recommended for such traders!
  • Want to use a highly rated broker in the world
  • Want to trade with a low commission
  • Want to trade Cryptocurrency

Overview of Tradeview

Regulated byCayman
Max Leverage1:400
ProductsForex:61, CFD:16, Crypto:5
BonusesNone
Spreads *STP/Avg.1.7pips/EURUSD, 1.7pips/USDJPY
Commission *ECN$5-$6/lot
  • ECN account spreads are quite narrow
  • Fees are also low
  • Cryptos are available
  • No bonus programs

Tradeview has received a high rating of 4.091 points on FPA (the world’s largest FX community site) (as of September 2020). This is a fairly high rating. I haven’t seen more than 4 points.

ECN accounts have low fees, so I think they are suitable for scalping and high-frequency trading on EA. It seems that these things have led to high praise in the world.

You can also trade cryptocurrencies (bitcoin, etc.).
Leverage is not as high as FXGT, but it can be traded with 10 times leverage.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

Tradeview | Forex Broker ReviewIs Tradeview a good broker? Are they scam or safe? Review from trader's point of view who really use Tradeview. Ultimately you can decide Tradeview is suitable for you or not!...
Tradeview | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

iFOREX

Founded in 1996, iForex is a pioneer of overseas Forex.

Not only does it have a long history, but its popularity does not decline due to the large number of stocks it handles and the ease of high-level trading.

Recommended for such traders!
  • Want to trade with high leverage with small capital
  • Want to trade not only forex but also individual stocks

Overview of iFOREX

Regulated byVirgin Island
Max Leverage1:400
ProductsForex:83, CFD:53, Crypto:17, Stocks:845, ETF:47
BonusesNone
Spreads *STP/Avg.0.7pips/EURUSD, 1.0pips/USDJPY
Commission *ECNN/A
  • A lot of products. Also stocks and cryptocurrencies
  • 0% stop out level
  • MT4 and MT5 are not allowed
  • No bonus programs

The most characteristic feature is the large number of products handled. There are more than 150 types of individual stocks and 17 types of cryptocurrencies (stocks are reviewed regularly).

Among them, individual stocks are unique. iFOREX handles not only US stocks such as Apple but also many Japanese stocks.

There are so many different types of coins that are available for cryptocurrencies.
iFOREX also offers Dogecoin, which became famous when Elon Musk invested in it.

Spreads, which were previously fixed, have changed from 2018 to volatility and are much cheaper. Some sites mention wide spreads, but it’s out of date.

Please note that the only trading platform is the web tools provided by iFOREX.
This is easy to use, but MT4 and MT5 cannot be used, so EA tool is not allowed.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

iFOREX | Forex Broker ReviewIs iFOREX a good broker? Are they scam or safe? Review from trader's point of view who really use iFOREX. Ultimately you can decide iFOREX is suitable for you or not!...
iFOREX | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

TMGM (TradeMax)

TMGM(TradeMax) has been founded in 2013, it is a relatively new broker.

It has been developed under the brand TradeMax, but recently it has changed its name to the TMGM (TradeMax Global Markets) brand and has begun to expand worldwide.

Actually TradeMax is a new broker, but the information on website is not much.
But as far as I’ve actually used it, it can be said TMGM is a good broker.

Recommended for such traders!
  • Want to trade with high leverage with small capital
  • Want to use a broker that has a momentum
  • Have a enough capital

Overview of TMGM(TradeMax)

Regulated byASIC (Australia), VFSC (Vanuatu)
Max Leverage1:500
ProductsForex:60, CFD:29, Crypto:5
Bonuses2 Types (Deposit Bonus, Gift Program)
Spreads *STP/Avg.0.7-1.6pips/EURUSD、0.8-1.8pips/USDJPY
Commission *ECN$7/lot
  • Good support
  • Bonus programs
  • Narrow spread
  • Crypto is available
  • Not much information on official website

Although it is not mentioned on the official website, there are bonus programs.
Deposit bonus and gift exchange promotion.

Regarding account types, only Classic (STP) and Edge (ECN) are listed on the website, but there are 4 more accounts that can be selected on an application basis.

Also, when you open an account, a dedicated account manager will be assigned for you. And TMGM offers 24/5 support. It can be said good support programs and good for novice traders.

\Just 3 minutes!!/
Open an Account

Please refer to another post for more detailed information.

TMGM(TradeMax) | Forex Broker ReviewIs TMGM (TradeMax) a good broker? Are they scam or safe? Review from trader's point of view who really use TMGM (TradeMax). Ultimately you can decide TMGM (TradeMax) is suitable for you or not!...
TMGM(TradeMax) | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...