THE WORLD’S MOST POWERFUL
FOREX BROKERS
BEST FOREX BROKER REVIEWS
SECURE TRADING ALL OVER THE WORLD
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India. My review
process includes robust fact-checking and thousands of hand-collected data points; here are my picks for the best forex brokers in India for 2025 from around the world.
RANK 1
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
RANK 2
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
RANK 3
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
RANK 4
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
RANK 5
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
RANK 6
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
RANK 7
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
RANK 8
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
RANK 9
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
RANK 10
XM
Finding the right forex broker is crucial for a secure and profitable trading experience. We’ve done the hard work for you by reviewing. To find the best forex brokers in India, I tested all brokers that accept new customers from India.
- Account Minimum : $5
- Active Trader Discounts: Yes
- Forex Pairs: 80
- Accepts U.S. Customers: Yes
4.8/5
Best for Low Costs
WHAT MAKES A FOREX BROKER TOP IN 2026?
Strict Regulation & Licensing
Trusted brokers hold licenses from authorities like FCA, ASIC, or CySEC, ensuring transparency and client protection.
Tight Spreads & Low Fees
Leading brokers offer minimal spreads, zero commissions, and no hidden charges for costeffective trading.
Advanced Trading Platforms
MT4, MT5, and AI-powered platforms deliver fast, reliable, and flexible trading experiences across all devices.
Fast & Secure Trade Execution
Multi Asset Offerings
Strong Security Protocols
Quick & Transparent Withdrawals
Educational Resources
24/7 Customer Support
Reputation & User Trust
Innovation & AI Integration
Flexible Accounts & Leverage
FIND YOUR PERFECT FOREX BROKER
Answer 5 quick questions and we’ll match you with the best brokers for your trading style
Step 1: What type of trader are you?
Step 2: What’s your preferred trading style?
Step 3: Which platform do you prefer?
Step 4: What’s your preferred leverage?
Step 5: What’s your main goal?
DETAILED FOREX BROKER REVIEW BRIEFLY EXPLAINED
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
BONUS
100% Deposit Bonus
$200 Per Referral Friend
XM Trader Club - Join Now and Earn Cash
BROKER DETAILS
| Established Year | 2008 |
| License Information | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Min Deposit | $5 |
| Tradable Instruments | 293 |
| Trading Platform | MT4 and IronFX Web Trader App |
| Trustpilot Rating | 4.6 out of 4000 Reviews |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VPay, DragonPay, AstroPay, Jetonbank, Sticpay, Interac, MiFinity |
| Withdrawal Methods | Visa, Mastercard, Bank Wire, Skrill, Neteller, Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay |
| Account Types | 7 |
| Islamic Account | Yes |
During our live test, I found that IronFX provides access to seven different types of trading accounts. They categorize the accounts by the execution method. A fixed spread account means that the spread (the difference between the buy price and the sell price) is always the same.
There are also some other differences regarding each of the account types, which include different leverage, base currencies, and fees. I have provided a brief summary of some of the accounts below:
Standard Account:- Leverage up to 1:1000
- Commission: Zero
- Spreads: Floating from 1.6 pips / Fixed to 2.0 pips
- Leverage up to 1:500
- Commission: From $13.50 per lot, per side
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: Zero
- Spreads: Fixed to 0 pips
- Leverage up to 1:500
- Commission: From $10 per lot
- Spreads: From 0.0 pips
As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences. Many traders prefer to trade via an STP or ECN execution method, as your trades are sent directly to the market without any broker intervention.
I have found that a good way to identify the best type of trading account is to use a demo trading account and test each one to see which one best suits your trading needs.
| PROS | CONS |
|---|---|
| Multiple account types | 2008 |
| Multiple account types | UK FCA, CySEC, FSCA, FSC BVI, FSA Seychelles, FSC Mauritius, and CMA Kenya |
| Multiple account types | |
| Multiple account types | |
| Multiple account types | |
| Multiple account types |
WHAT FEES SHOULD YOU CONSIDER BEFORE TRADING A FOREX BROKER?
Trading fees
These are fees charged for opening, closing, and holding a trade and include:
- Spread: This is the difference between the buy price and sell price of a financial instrument, and it should be as low as possible. In our broker rating reviews, we conduct a live spread test with each broker. A spread of less than 1.0 pip on EUR/USD is considered to be the industry average. See our guide for the best forex brokers with lowest spreads.
- Commission: This is the cost of opening and closing a trade and should be as low as possible. In our broker rating reviews, we conduct a live fee test with each broker. A commission of $3.50 per lot per side on MT4 and MT5 and $3.00 per lot per side on cTrader is considered to be the industry average.
- Swaps. This is the cost of holding a leveraged or margined position overnight. The swap fee is based on the two different interest rates of the currency pair you are trading on, plus a broker’s markup. Discover Best low swaps forex brokers.
The best way to test the fees for yourself is to use a demo trading account or open a live account with the minimum deposit first. Alternatively, you can read the review of a broker from the FXEmpire website, in which our team of analysts has tested the spreads for you.
Non-trading fees
Non-trading fees can include charges for account maintenance, account inactivity, deposits, and withdrawals. It is wise to review the deposit and withdrawal methods and their respective fees so you are not surprised by any high charges.
Many brokers advertise fee-free deposits but may charge fees for withdrawals. This information is typically available on the broker’s website, but you can also confirm it with customer support.
Guide to Broker Fees in the Forex and CFD Industry
HOW AND WHEN THE BROKER CHARGE SWAP FEES?
Swap fees in forex trading are charged by brokers when a trader holds a position open overnight. The specifics of how and when these fees are applied can vary slightly depending on the broker, but the general process is as follows:
- Time of Charge: Brokers charge swap fees at a specific time, typically at 5 p.m. EST, coinciding with the end of the forex trading day. If a position is open at this time, the swap fee applies
- Interest Rate Differential: The fee is based on the difference between the interest rates of the two currencies traded. If the bought currency has a higher rate than the sold one, you might earn interest (positive swap); otherwise, you’ll pay interest (negative swap).
- Broker’s Mark-Up: Brokers may add a mark-up to the swap fee, varying from one broker to another
- Daily Charges: Swap fees accumulate daily for positions held open for more than one day.
- Weekend and Holiday Charges: Holding a position over the weekend or a holiday can incur higher swap fees to cover the non-trading days, often charged as a three-day fee on Wednesdays or the day before a holiday.
HOW TO CHOOSE A CFD TRADING PLATFORM
An intuitive, easy-to-navigate platform will allow you to launch into the trading world with minimal hitches. The most user-friendly platforms are typically browser-based platforms created by the broker. Look for easy-toimplement features such as watchlists, trading from the chart, search, news, and a customizable interface. MetaTrader and cTrader platforms have advanced features like backtesting, automated trading, and a wide range of order types, though are less user-friendly.
There are a variety of trading platforms available to forex traders. Here are a few that you may want to consider for gaining great trading results.
- MetaTrader 4 and MetaTrader 5 are two of the most popular and widely used forex and CFD trading platforms, offering a good range of features and tools, such as advanced charting tools, automated trading through expert advisors, custom indicators and expert advisors, one-click trading and portfolio management. Check out our dedicated guides on best MT4 brokers and best MT5 brokers
- TradingView is another growing and popular charting platform that makes it possible to track almost all markets, and describes itself as a supercharged super-charting platform and social network for traders and investors. TradingView has over 50 million users. Check out our list of the best forex brokers offering TradingView
- cTrader, developed by Spotware Systems, is a strong platform for high-frequency day traders of the forex market. It specializes in providing an algorithmic social trading community for the financial market. Read more about best cTrader brokers
- ZuluTrade is a social forex and CFD trading platform that allows you to easily follow and copy other traders. As Zulutrade has a more social approach, tools for charting and technical analysis are limited
You can also check out our dedicated guide on best forex trading platforms.
WHAT ACCOUNT TYPES ARE AVAILABLE?
A broad range of account types helps a broker cater to different trader profiles. For example, a simple STP account may be the best for beginners in the markets, while an ECN/Raw Spread account can help sophisticated, active traders keep their costs to a minimum.
Here are some of the most common account types offered by CFD brokers:
- Standard Accounts: These are the most common types of accounts that CFD brokers offer. They usually provide access to a wide range of financial instruments, including indices, commodities, shares, and more. The minimum deposit requirement for standard accounts can vary greatly between brokers.
- Mini or Micro Accounts: These accounts are designed for beginners or traders with smaller account balances. They often allow trading with smaller contract sizes, which can be a way to manage risk, especially for new traders learning the ropes.
- VIP or Premium Accounts: These accounts are designed for high-volume or professional traders. They often come with lower spreads or commissions, a dedicated account manager, and other perks like free access to premium research or advanced trading tools. However, they usually require a higher minimum deposi
- Demo Accounts: Almost all CFD brokers offer demo accounts where traders can practice their strategies with virtual money before risking real money. This is a great way to get to know the broker’s platform and test your trading skills. Read more about best forex demo accounts
- Islamic Accounts: These are swap-free accounts that comply with Islamic law, which prohibits earning or paying interest. They are designed for traders of the Islamic faith. Read more about best Islamic forex accounts
Explore Best micro forex accounts and Best big forex accounts.
WHAT IS THE AVAILABLE LEVERAGE?
The leverage options at CFD brokers offer a substantial advantage when trading CFDs. The extent of leverage you can access depends on where your broker (or broker’s entity) is located. For instance, if you’re trading through a UK-based, FCA-regulated broker, you’ll find the maximum leverage capped at 1:30. In contrast, offshore brokers frequently provide much higher leverage, sometimes reaching up to 1:500 or beyond.
The level of available leverage depends on what type of asset you are trading. For example, here is the complete breakdown across each asset category via a CySEC-regulated broker:
- Forex Majors: 1:30
- Forex Minors: 1:20
- Forex Exotics: 1:20
- Indices Majors: 1:20
- Indices Minors: 1:10
- Commodities: 1:10
- Gold: 1:20
- Metals: 1:10
- Energies: 1:10
- Cryptos: 1:2
- Futures: 1:10
- Bonds: 1:5
- Shares: 1:5
Beware of using excessive leverage, even if it is tempting. It’s an enthralling feeling to control a large position in the market. But when markets are moving fast, and you are holding a highly leveraged position, there is a very high risk of losing money. Accounts can get wiped out in seconds.
However, if you’re set on pursuing higher leverage, FX Empire offers a list of the best forex brokers with high leverage, carefully selected to suit specialized trading needs.
WHAT TO AVOID WHEN CHOOSING A FOREX BROKER?
Opening an account with an unregulated offshore broker entails substantial risk. In some instances, brokers with offshore entities purchase private insurance from Lloyds of London to mitigate the risk for clients. Be sure to
check what kind of account insurance is available to safeguard your account whether a compensation fund is provided in association with a regulator or private insurance.
Another important area to check is trading costs and fees. Some brokers may have very wide spreads, making it expensive to get in and out of trades. In some cases, for example, when trading CFDs on shares, commissions
may also be added. Among account-related fees, find out if there is an inactivity fee many brokers charge a sum each month after your account has been dormant for a set period. If you take a break from the market and
are unaware of this, you could be surprised to find your account balance lower when you return to trading.
HOW TO AVOID FOREX AND CFD SCAMS?
- High- Return Guarantees. A common scam in the forex and CFD industry involves vendors offering a trading strategy that guarantees an outlandishly high return in little time. These may involve automated trading using bots or a signal service where trades are shared via chat or social media. Nobody can guarantee returns with certainty, and it is more likely that such strategies will lose money. When assessing strategy or signal providers, you should look for a live track record audited by a third party and be conscious that past performance does not guarantee future results
- Lack of Protection. Traders should also be cautious about opening an account with an unregulated offshore broker. Such brokers may offer a straightforward account opening process, bonuses, and high levels of leverage, but client funds are typically not protected. Meanwhile, brokers regulated by top-tier authorities must undergo regular audits and are held accountable for misconduct. Traders can also benefit from having their funds held in segregated accounts, negative balance protection, and a compensation fund in the event of broker insolvency.
And if you are still uncertain, you can always check out our database of reviews to find the most reliable brokers.
OUR METHODOLOGY
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in-depth analysis with over 250 data points per broker.
We evaluate brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education. Our reviews cover key areas like
regulatory status, ensuring clarity on fund safety and benefits
The review process includes live testing, research, questionnaires, broker demonstrations, assessing spreads, swap fees, and other costs. This helps determine a broker’s competitiveness and platform usability.
Our editorial integrity ensures unbiased, objective reviews based on measurable data. We prioritize well-regulated companies for their trustworthiness and financial stability, focusing on low spreads and swap fees. We also
consider the richness of trading platforms, range of tradable instruments, account diversity, customer support efficiency, deposit/withdrawal ease, leverage options, and educational resources. Our goal is to empower
traders with comprehensive market knowledge, effective strategies, and informed decision-making capabilities
We abide by our strict guidelines for editorial integrity based on the objective standards we have set for our reviews. You can read more about our review process here
WHY TRUST DAILYSPOK?
- Best Forex Brokers
- Best CFD Brokers
- Best Gold Trading Brokers
- Best Crypto Trading Brokers
- Best Forex Brokers for Beginners
- Best Forex Brokers for Scalping
FREQUENTLY ASKED QUESTIONS
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in depth analysis with over 250 data points per broker. We evaluate
brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education.
MEET OUR AUTHORS
FRANCIS DANIEL
FOREX ANALYST
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3
licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well equipped to recommend the best forex brokers due to his extensive
experience and understanding of the brokerage industry.
FRANCIS DANIEL
FOREX ANALYST
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3
licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well equipped to recommend the best forex brokers due to his extensive
experience and understanding of the brokerage industry.
FRANCIS DANIEL
FOREX ANALYST
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3
licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well equipped to recommend the best forex brokers due to his extensive
experience and understanding of the brokerage industry.
WHY TRUST DAILYSPOK?
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. Read More