Best Forex Brokers – Recommended by HowToTrade

Confused about which broker to trade with? And what features should you even be looking at when deciding… ? 

The fees? Spread? Charting? Analysis option? Minimum deposit? Do they offer demo accounts? 

It’s easy to get overwhelmed with the amount of information you’re supposed to be looking at. Especially if you’re not even sure what to look for.

But worry not, that’s what I am here for; to make your life easier and help you decide.

Every year, the team at HowToTrade and I, spend a great amount of time testing the biggest names in the online brokerage game and assemble a guide highlighting the best and most trusted forex brokers around.

Below, are some of the most important features we are and you should be looking at when choosing a broker.

  •  Are they regulated?
  •  What fees are involved?
  •  How much do you need to deposit?
  •  Do they have 24/7 reliable support?
  •  How fast can they execute your trades?

The only brokers we trust!

Our recommended brokers below have been verified by our professional mentors and our expert team.

We’d never suggest a broker we didn’t believe in.

medal Most popular choice
1
blueberrymarkets logo
Blueberry Markets

Outstanding 9.8

$100

Minimum deposite

Outstanding 9.8

HowToTrade editor's
choice.
ASIC Regulated Australia's best rated broker 24/7 Live Chat Zero commission on standard account
Doesn't accept US clients No cryptocurrencies trading
2
axitrader logo
AxiTrader

Outstanding 9.8

$0

Minimum deposite

Outstanding 9.8

Lowest minimum deposit of all brokers.
Tools for advanced traders available.
Deposit starting from $0 ASIC and FCA Regulated Free PsyQuation for all clients Possibility of a free VPS
Doesn't accept US clients No PayPal funding option
3
lmfx logo
LMFX

Outstanding 9.8

$50

Minimum deposite

Outstanding 9.8

Best choice for US clients. High leverage
and 100% deposit bonus available.
Leverage up to 1:1000 100% credit bonus No fees on deposits Useful trading calculators
No EU or Australian regulation Higher commission on Zero Account
4
icmarkets logo
IC Markets

Outstanding 9.8

$200

Minimum deposite

Outstanding 9.8

One of the most reputable brokers.
One of the largest brokerages ASIC Regulated Possibility of a free VPS Raw Spread account with 0.0 spreads
Doesn't accept US clients
5
mtcook logo
MT.COOK

Outstanding 9.8

$200

Minimum deposite

Outstanding 9.8

A high-level professional broker for those
that desire exceptional services.
Professional broker ECN/DMA streams 24/7 Live Chat support
Minimum deposit $1,000 No MetaTrader 5 support
6
Pepperstone logo
Pepperstone

Outstanding 9.8

$150

Minimum deposite

Outstanding 9.8

Very secure and trustworthy, with multiple
regulations and competitive spreads.
ASIC, FCA, DSFA and SCB-regulated Wide range of $0-cost funding options Razor account spreads from 0.0 Australia's best rated broker
No live chat support
7
Global Prime logo
Global Prime

Outstanding 9.8

$200

Minimum deposite

Outstanding 9.8

High-quality and trustworthy broker with
your best interest at their heart.
ASIC Regulated No B-book model Fully automated trading, No Deal Desk (NDD)
No MetaTrader 5 support No stocks CFD trading

The most important features to look for in a forex broker…

Security

The first and most important characteristic that a good broker must offer is a high level of security for your funds. After all, you’re not just going to hand over hundreds of dollars to a person who simply claims they’re legit, right? In this case we’re looking at their regulatory bodies, liquidity providers and backing banks, among other things.

Transaction Costs

Every single time you enter a trade, you will have to pay for either the spread or a commission so it is only natural to look for the most affordable rates.

Sometimes you may need to sacrifice low transactions for a more reliable broker. But trust us, it’s always worth it in the long run!

Deposit and Withdrawal

Good forex brokers will allow you to deposit funds and withdraw your earnings hassle-free. You should make sure that your broker’s withdrawal process is smooth and speedy.

Some brokers also offer more methods of funding than others, it’s important for a good broker to offer a wide range of deposit and withdrawal methods.

Execution

It is critical that your broker fills you at the best possible price for your orders.

For example, assuming you have a stable internet connection, if you buy GBP/USD for 1.3100, you should get filled at that price or within micro-pips of it. The speed at which your orders get filled is super important.

Customer Service

Surprise, surprise, brokers ain’t perfect. So it’s important you pick a broker that you could easily contact when problems arise. The competence of brokers when dealing with support issues is just as important as their performance on executing trades.

If you’re still not sure what broker to choose and would like some more guidance, let me know in the comments below or message me directly through the Contact Us section.