Best Forex Broker Comparison 2024

Online broker comparison is a great way to find the right broker for your online forex trading. We have spent over 250 hours to compare among the top brokers and pick the best forex broker. However, we have compared all top brokers based on multiple criteria and selects the 6 brokers from the hundreds.

Our forex brokers comparison finds six brokers based on trading platforms, no deposit and withdrawal fees, fast execution, high-quality customer support, and lowest spreads. The brokers are FP Markets, Blackbull Markets, Eigthcap, FxPro, IC Markets and FBS. We will guide you to the online broker comparison through the rest of this article.


Best Forex Brokers 2024 – Forex Brokers Comparison 2024
Find the best Forex Broker & Start trading instantly!

Broker
Rating
Regulated
Bonus
Min. Deposit
Location
1.

ASIC, CySEC, FSP

No Bonus

$100

Australia

2.

FSA, FMA

No Bonus

$0

Auckland, New Zealand

3.

ASIC, FCA, CySEC, SCB

No Bonus

$100

Melbourne, Australia

4.

CySEC, FCA, FSB, DFSA, SCB

No Bonus

$100

New Providence, Bahamas.

5.

ASIC

No Bonus

$200

NSW, Australia

6.

IFSC , CySEC

100% Bonus

$1.00

Belize, C.A

7.

IFSC, CySEC, IFSC, ASIC

50% Bonus

$50

Belize, C.A

Regulations and Licenses

Regulations and Licenses

Brokerage

Brokerage

FP Markets

FP Markets: Low Minimum Deposit with 1:500 Leverage

FP MarketsFounded in 2005, FP Markets has emerged as a prominent global broker, providing an extensive array of trading options spanning across forex, shares, indices, commodities, and cryptocurrencies. Through its user-friendly platforms like MetaTrader4&5, cTrader, Iress, Mottai, and TradingView, FP Markets offers a comprehensive suite of tools tailored to meet the diverse needs of investors worldwide.

Strengths of FP Markets

FP Markets boasts several key strengths that make it a preferred choice among traders. With rock-bottom fees, lightning-fast execution, and an unparalleled range of instruments, FP Markets caters adeptly to the demands of experienced traders. These strengths are complemented by advanced features such as automated trading and Direct Market Access, coupled with award-winning research materials from industry leaders like Trading Central and Autochartist.

FP Markets open account

Highlights of FP Markets in 2024

In 2024, FP Markets continues to shine in the trading landscape with its multiple regulations across six global entities, ensuring adherence to strict standards. Setting itself apart with competitive spreads and cutting-edge trading platforms like MT4/MT5, cTrader, and TradingView, the broker is committed to providing premium third-party research tools. With an extensive array of over 10,000 financial instruments, FP Markets provides traders with ample opportunities to diversify their portfolios and uncover fresh prospects in the market.

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Who Should Consider FP Markets?

FP Markets caters primarily to experienced traders who seek advanced tools and platforms to execute their strategies effectively. The diverse range of platforms, including MT4/MT5, cTrader, and others, coupled with features like VPS and MAM/PAMM, make FP Markets an ideal choice for traders with sophisticated trading strategies. Moreover, the broker’s ability to accommodate scalpers and day traders with tight spreads and rapid trade execution further sets its appeal among experienced investors.

FP Markets open account

Specialty of FP Markets

FP Markets stands out in the crowded brokerage landscape by offering competitive fees without compromising on customer support or research materials. The broker’s firm commitment to transparency and regulatory compliance enhances its credibility and fosters trust among its clients. With a focus on delivering comprehensive trading experience, FP Markets continues to set itself apart as a reliable and trustworthy broker.

FP Markets operates under the supervision of various regulators, providing different levels of account protection depending on the entity. While entities regulated by top-tier authorities offer robust security measures, offshore entities may provide reduced protection. Traders are advised to carefully evaluate the regulatory status of the entity they choose to engage with to ensure a secure trading environment.

Stability and Transparency

With nearly two decades of experience in the industry, FP Markets demonstrates stability and transparency in its operations. The broker maintains a transparent approach to regulatory compliance and provides clear information on spreads and terms, instilling confidence among its clients and ensuring a trustworthy trading environment.

Fees and Trading Costs of FP Markets

FP Markets offers competitive fees designed to benefit traders, including tight spreads, no inactivity fees, and free deposits and withdrawals. The broker’s fee system is geared towards delivering affordable trading solutions while upholding top-notch service for its traders.

Platforms and Tools

FP Markets provides a range of advanced trading platforms catering to the needs of experienced traders. From MT4/MT5 to cTrader and TradingView, these platforms offer a plethora of features including one-click trading, advanced charting tools, and automated trading options, empowering traders to execute their strategies with precision and efficiency.

Tradable Instruments

With over 10,000 CFDs available across various asset classes, FP Markets offers traders an extensive range of tradable instruments. Traders can confidently diversify their portfolios and explore new investment opportunities across forex, commodities, indices, shares, bonds, or cryptocurrencies.

Maximum Leverage Offered

Maximum Leverage Offered

Deposits & Withdrawals

FP Markets supports a wide range of deposit and withdrawal methods, ensuring convenience and flexibility for its clients. With fast and efficient processing times and no fees charged for deposits or withdrawals, FP Markets strives to provide a seamless and hassle-free trading experience for its clientele.

Account Types and Terms

FP Markets offers multiple account types to accommodate different trading preferences and styles. Whether it’s spread-based or commission-based accounts, traders can choose the option that aligns with their trading goals and objectives. The digital account opening process is simple, with demo accounts offered for practice, enabling traders to get acquainted with the platform before engaging in live trading.

FP Markets open account

BlackBull Markets

BlackBull Markets: Ideal for Advanced Algorithmic Trading

BlackBull market reviewBlackBull Markets isn’t your average Forex broker. Headquartered in New Zealand, it’s a FinTech company that’s all about speed and precision. They promise traders ECN/NDD execution, deep liquidity, and institution-level pricing through the popular MT4/MT5 trading platforms.

Exploring BlackBull Markets’ Offerings

BlackBull Markets prides itself on offering ECN/NDD execution with institution-level pricing. This means they aim to provide traders with deep liquidity and competitive pricing, especially for retail traders. They utilize cutting-edge technology to ensure high-speed trading, catering to the needs of scalpers and high-frequency traders. While they excel in these areas, I’d love to see them expand their range of tradable assets in the future.

Blackbull Markets open account

Regulation and Security

BlackBull Markets is regulated by two well-respected authorities: the New Zealand Financial Markets Authority (FMA) and the Seychelles Financial Services Authority (FSA). This provides clients with an added layer of protection against fraud and malpractice. Moreover, client funds are kept separate from corporate funds, providing additional assurance for the safety of your investments. However, it’s worth noting that BlackBull Markets does not offer negative balance protection, which can pose risks for highly leveraged trading accounts.

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Fees and Costs

Trading costs at BlackBull Markets are competitive. They offer tight spreads, especially during peak trading hours, which confirms their commitment to institution-level pricing. However, traders should be aware of swap rates on leveraged overnight positions, as these can significantly impact trading costs. Furthermore, although the minimum deposit for the ECN Prime account may be slightly higher compared to some competitors, the trading conditions it offers justify the investment in terms of value.

Spreads

Spreads

Asset Selection

One area where BlackBull Markets shines is its asset selection. With over 60 currency pairs, 23,000+ equity CFDs, and access to global stock exchanges, traders have a wide range of instruments to choose from. Whether you’re an asset manager or a long-term investor, BlackBull Markets offers something for everyone. Plus, with the addition of cryptocurrency CFDs, they continue to expand their offerings to meet the evolving needs of traders.

Blackbull Markets open account

BlackBull Account Types and Trading Platforms

BlackBull Markets provides a range of account types for various trading styles and preferences. From the ECN Standard account with no minimum deposit to the ECN Prime account with enhanced trading conditions, there’s an option for every trader. Plus, with access to the MT4/MT5 trading platforms, as well as TradingView, traders have the tools they need to succeed. While a proprietary trading platform would be a welcome addition, the existing options are robust and user-friendly.

Research and Education

For traders looking to improve their skills, BlackBull Markets offers a range of educational resources. From beginner-friendly videos to in-depth trading guides, there’s something for traders of all levels. Additionally, their research section provides daily news and views, technical analysis, and model equity portfolios, helping traders stay informed about market trends. While some of these resources may come at an additional cost, the value they provide is worth the investment.

Customer Support and Bonuses

Customer support at BlackBull Markets is accessible 24/7 through live chat, email, and phone. Traders can rely on timely and professional assistance whenever they require it. While BlackBull Markets does not offer bonuses in the traditional sense, they do provide incentives for active traders, such as lower commissions or free VPS hosting. This, combined with their excellent trading infrastructure, makes them a top choice for retail traders.

Opening an Account and Deposits/Withdrawals

Opening an account at BlackBull Markets is quick and easy, following industry-standard practices. Traders have multiple deposit options available, including bank wires, credit/debit cards, and e-wallets. Withdrawals are swiftly processed within 24 hours, providing timely access to funds. While there is a withdrawal fee, it’s a small price to pay for the convenience and security of trading with BlackBull Markets.

BlackBull Markets offers comprehensive trading experience for traders of all levels. With competitive pricing, an extensive array of assets, and powerful trading platforms, they offer everything necessary for success in the financial markets. While there are some areas for improvement, such as the absence of negative balance protection and the lack of a proprietary trading platform, the overall package is impressive. Whether you’re a seasoned trader or just starting out, BlackBull Markets is worth considering for your trading needs.

Blackbull Markets open account

Eightcap

Eightcap: Highly Regulated Forex Broker

eightcap reviewEightcap is an Australian financial services firm catering to customers worldwide, providing trading solutions across various assets such as currencies (Forex), commodities, indices, cryptocurrencies, and shares. Established in 2009 and based in Melbourne, Australia, Eightcap operates through two entities: Eightcap Pty and Eightcap Global Limited. With customer support available in ten languages and regulated by top authorities like ASIC, FCA, CySEC, and SCB, Eightcap positions itself as a globally trusted broker.

Overview of Eightcap’s Offerings

  • Low Minimum Deposit and High Leverage: You can start trading with as little as $100 and enjoy leverage of up to 1:500.
  • Competitive Cost Structure: With tight spreads and low commissions, Eightcap offers a cost-effective trading environment.
  • Excellent Technology Infrastructure: Backed by robust technology and a seasoned management team, Eightcap ensures a smooth trading experience.
  • Daily Research and Educational Content: Traders benefit from regular research updates and quality educational resources.

However, the broker has a limited leverage in some areas. While leverage is high in Forex trading, it may be limited in other asset classes.

Eightcap open account

Trading Platforms + Tools

Trading Platforms + Tools

Regulation and Security

Eightcap operates under the supervision of multiple regulatory bodies, including ASIC, CySEC, FCA, and SCB. This ensures a secure trading environment for customers, with measures like negative balance protection and segregation of client funds from corporate assets.

Eightcap Asset Selection

With over 800 assets available, including Forex, cryptocurrencies, stocks, indices, and commodities, Eightcap offers a diverse range of trading instruments. Traders can choose between Standard and Raw accounts, each with its own fee structure and benefits.

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Broker Fees

Eightcap’s fee structure varies depending on the account type. The Raw account charges a commission per trade, the Standard account operates on a spread-based model. Swap fees for overnight trades and inactivity fees are not charged by Eightcap.

What Can You Trade with Eightcap?

Eightcap offers a wide range of trading instruments, covering everything from Forex currency pairs to cryptocurrencies, stocks, indices, and commodities. They have recently expanded our offerings to include Zinc, Nickel, and an increased selection of share CFDs.

Leverage Overview

Eightcap offers leverage of up to 1:500 for Forex trading through its Bahamas subsidiary, allowing traders greater flexibility. However, leverage may vary depending on the asset class and regulatory restrictions.

Trading Hours

Trading hours vary depending on the asset class, with Forex and cryptocurrencies operating 24/5, while equity markets have specific trading hours. Traders can refer to specifications available on the trading platform for accurate trading hours.

Account Types

Eightcap offers three account types: Demo, Raw, and Standard. The Demo account allows risk-free trading with virtual funds, while the Raw and Standard accounts cater to different trading preferences, with varying fee structures.

Eightcap open account

Trading Platforms

Traders have the option to select from well-known platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView, accessible on desktop, web, and mobile devices. Each platform presents distinctive features and benefits, tailored to diverse trading styles and preferences.

Unique Features of Eightcap

  • Capitalise.ai: A platform enabling traders to create automated trading strategies using plain language, without coding knowledge.
  • Trade Zone: An educational resource providing market updates, insights, and webinars to enhance traders’ knowledge and skills.
  • Eightcap Labs: A collection of educational materials designed by professional traders to help traders develop and refine their trading strategies.

Research and Education

Eightcap offers a range of educational resources, including MetaTrader guides, fundamentals, and trading strategies. Market analysis updates in video and text formats provide valuable insights for traders of all levels.

Customer Support

With support available via phone, email, and online chat in multiple languages, Eightcap ensures prompt and knowledgeable assistance for customers.

Eightcap Deposits and Withdrawals

Eightcap supports multiple deposit methods, including bank wires, credit/debit cards, e-wallets, and cryptocurrencies, with no deposit or withdrawal fees. Withdrawals are typically processed within 1 to 2 business days, depending on the selected method.

User Experience

Backed by over a decade of experience and a strong regulatory track record, Eightcap offers a seamless user experience. Positive reviews from traders and industry experts confirm its reputation as a trustworthy and innovative broker.

Eightcap emerges as a reliable and competitive choice for traders seeking a secure and diverse trading environment. With a wide range of assets, competitive fees, advanced trading platforms, and robust regulatory oversight, Eightcap continues to deliver on its promise of being a globally trusted broker. Whether you are new to trading or an experienced trader, Eightcap offers the tools and resources to effectively support your trading journey.

Eightcap open account

Risk Management

Risk Management

FxPro

FxPro: One of the Best Brokers for CFD Trading and Forex

FxProMaking forex brokers comparison in terms of clients’ number, FoPro would be in the top 5s with their 1,300,000 in over 173 countries all over the world. However, they don’t come to this place overnight; it took them 14 years to reach here since their inauguration in 2006.

Is FxPro Trustworthy?

We have found from multiple online broker comparison that, from the beginning, FxPro has been providing unambiguous service to the trader. Over the years, they have earned 4 industry regulations, which include FCA, CySEC, SCB, and FSCA.

FxPro has some unique features, and the algorithmic trading feature is one of them which works with cTrader. Through algo trading, you can easily make your moves as per your created trading strategy. Besides, the support with the VPS lets you trade 24/7 with effortless high-speed operation.

fxpro

Markets and Instruments

Markets and Instruments

FxPro Tools, Education, and News

FxPro is the best forex broker for providing different trading tools, news, analysis, and education to make the trading comfortable for all.

From the FxPro Review, found that the education tools offer two levels in interactive cards, which provide the learning opportunity via video tutorials, webinars, events, fundamental analysis, technical analysis, etc.

fxpro

Eventually, the forex broker compare, finds out that FxPro News & Analysis tool is really helpful for both new trader and expert trader. This powerful, informative support includes economic calendar, market holidays, earning calendar, and technical analysis from trading central.

Furthermore, the dedicated trading tools also give the competitive edge, such as trader’s dashboard, FxPro calculators, direct app, VPS, etc., tools are effective for successful trading.

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IC Markets

IC Markets: Leading Forex CFD Provider and Best ECN Broker

IC MarketsWhile we did the complete forex broker compare, it came to our eyes that IC Markets is the best forex broker for its raw spread account. This makes them known as true ECN brokers.

IC Markets offer the initial spreads from 0.0 pips, no fees for deposits, withdrawals, and inactivity. Instead, they charge a $3.50 commission per lot.

Platform

Platform

IC Markets open an account

IC Markets Online Platform

IC Markets totally operates online via a browser and mobile app. IC Markets review gave a list of the platforms they use for trading activity. However, they prioritize the IC Markets web trader, allowing trading from any browser via PC or Phone. Apart from this, they also provide apps for mobile for iPhones and Androids, including iPad and tablets.

All these opportunities are offered through the IC Markets MT4 platforms, while they also provide MT5. However, if you compare forex brokers, you will get that IC Markets offer traders too, and few more top online brokers offer this.

The benefits you will get from IC Markets are minimal trading cost, low commissions, and ECN brokers spread.

IC Markets open an account

IC Markets Fees

Unlike other forex brokers, IC Markets is not loaded with fees. Instead, they are grabbing clients by offering the lowest possible fees for all. Let’s make the IC Markets online broker comparison in terms of fees.

  • Deposit Fees

IC Markets do not impose any fees for deposits. However, there are fees for international transfer, and it is not charged by the IC Markets. The deposit methods you may use are Cards, Neteller, PayPal, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, Internet Banking, and more.

The minimum deposit is $200 to start the trading.

  • Withdrawals Fees

IC Markets forex brokers comparison with deposit fees shows that there are no withdrawal fees either. Like international deposits, international withdrawals also charge fees.

  • Inactivity Fees

A lot of the brokers charge inactivity fees. On the other hand, there are no inactivity fees for the IC Markets.

  • Rollover Fees

It is common by all brokers, which incurs when a trader keeps the position open for the following trading day. However, the rollover costs are not fixed and change regularly.

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FBS

FBS: Highest Leverage Forex Broker with Quick Withdrawal Feature

FBSFBS is one of the trustworthy brokers as they have a regulatory license from CySEC. As a result, more than 2.3 million forex traders trusted and opened an account with them. It comes with several convenient forex trading tools along with multiple tradable assets.

Crypto, forex, metal, stocks, energies, and forex exotics are the tradable assets offered by FBS. The good thing is that you can trade these from a single account. So, you don’t need to take any hassle to open multiple accounts for different assets.

With a single account, you can trade 28 forex currency pairs, 9 exotic pairs, 11 indices, and more than 100 crypto CFDs. Additionally, you have the opportunity to trade silver, gold, natural gas, Brent crude oil, WTI crude oil, and more with a single FBS account.

When it comes to account type, FBS offers you six different options. The FBS account types include cent, micro, standard, zero spread, ECN, and Crypto. All these accounts have some similar features and some unique features. For instance, you can deposit as low as $1 while you will also get the benefits of low commission. For the leverage benefit, you can apply up to 1:3000 leverage based on the account and trading type. Lot sizes are also different depending on the account. The lot size starts from 0.01 and goes up to 500.

FBS

FBS Platforms

With an FBS account, you can access both MetaTrader 4 and MetaTrader 5 platforms. In addition to that, you may also download the FBS Trader app on your phone to use it on the go. You can download the app for your iOS or Android phones or tablets. You can access MT4 and MT5 right from the FBS Trader app. And you can access 24/7 customer service from the app too.

You can access all the offered assets through the FBS app with inclusive access to MT4 and MT5. Nevertheless, you will get high-speed trade execution service through the FBS app. When it comes to technical indicators, the FBS platform offers plenty of them for your convenience.

FBS

Research Tools

Research Tools

Trading Assets Offered by FBS

Forex is the main trading asset for FBS. Therefore, they emphasize it and offer 28 forex currency pair for trading. The best thing is that you can trade them at 0.0 spreads. Besides FX, you can also trade silver and goods to expand your investment portfolio with FBS.

Further, you can take advantage of index trading too. FBS provide 11 indices including NASDAQ100, AU200, Dow Jones, DE30, FTSE100, and more. With these indices, you can start trading as low as 100 lots.

In addition to indices, metals, and forex, there are also energy trading options available. You have the opportunity to trade WTI crude oil, natural gas, and Brent crude oil.

FBS also offer 9 exotic forex pair for their traders, along with crypto and stock trading. When it comes to cryptocurrencies, you have the option to trade over 100 crypto assets with leverage features of up to 1:500. These crypto assets encompass a variety of pairings, including crypto-to-crypto, crypto-to-fiat, crypto-to-metals, and individual cryptocurrencies. This allows you to effectively diversify your crypto pairs and explore various trading opportunities.

But you need to open an account first to trade all these. So, ensure that you pick the right account type for your trading.

Moreover, you have the option to open a demo account prior to opening a real account with actual funds. This allows you to familiarize yourself with the FBS platform beforehand. If you are content with the demo account and its features, you can proceed to open a real account and begin trading.

FBS

Deposit and Withdrawal

In this digital age, there is no need to physically visit a bank to deposit funds into your FBS account. With the FBS app, you can effortlessly add money from your bank account or credit card. Furthermore, you have the convenience of choosing from multiple banks for your transactions. Once the deposit is made, you gain access to trade over 170 different assets.

Best Forex Brokers 2024 – Forex Brokers Comparison 2024
Find the best Forex Broker & Start trading instantly!

Broker
Rating
Regulated
Bonus
Min. Deposit
Location
1.

ASIC, CySEC, FSP

No Bonus

$100

Australia

2.

FSA, FMA

No Bonus

$0

Auckland, New Zealand

3.

ASIC, FCA, CySEC, SCB

No Bonus

$100

Melbourne, Australia

4.

CySEC, FCA, FSB, DFSA, SCB

No Bonus

$100

New Providence, Bahamas.

5.

ASIC

No Bonus

$200

NSW, Australia

6.

IFSC , CySEC

100% Bonus

$1.00

Belize, C.A

7.

IFSC, CySEC, IFSC, ASIC

50% Bonus

$50

Belize, C.A

How We Made this Online Broker Comparison?

To make this online broker comparison, we looked for different aspects of a broker. Before all started, we listed the best forex brokers. Then, we verified the regulatory status of our selected brokers. Whenever we found positive status about regulations, we moved farther. Otherwise, we removed them from the forex brokers comparison list.

So, we have selected only regulated brokers as they are risk-free and safe. Besides, they are accountable to the regulatory bodies, which ensures the safety of your funds. After we look at the stuff that will benefit the trader, such as leverage, spreads, instruments, transaction methods, customer care service, minimum deposits, etc., based on these factors, we compared forex brokers and selected the above mentioned 6 forex brokers.

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