Forex trading is a world of never-ending and evolving nature with many brokers struggling to get the attention of traders. Selection of the right broker is a tough task, as the broker has to select the best possible option that usually depends on your needs and personal preferences. In this complete guide about top Forex brokers in the world, we’ll talk about 7 well-regarded Forex brokers, each having unique features, strengths, and considerations.
Exness, XM, JustMarkets, XTB, Pepperstone, AvaTrade, and Oanda, are the top Forex brokers in the industry, that offer a wide range of trading platforms, instruments, and services to serve the various needs of traders. Whether you’re a novice trader in the Forex market or an expert trader seeking new features, the following top Forex brokers in the world will help you with it.
A List of Best Forex Brokers in 2024
1. Exness
Exness is the most favored and the biggest forex broker in the world which has a reputation for its low commission, speedy execution, and variety of trading instruments. The broker has a robust worldwide presence, with customers from over 150 countries. It is regulated by various authorities like the Financial Services Commission of Mauritius and the Cyprus Securities and Exchange Commission.
Features
- Competitive spreads entry from 0.1 pips.
- Instant order executing feature with an average of 0.03 seconds.
- Variety in selection of trading tools, including Forex, CFDs, and precious metals.
- A multilingual helpline is a continuous process.
- A variety of account types is suitable for different trading styles and risks.
Pros
- Lower trading prices and transparent cost
- Dependable and speedy order execution
- Wide range of trading tools and markets
- User-friendly trading platform with advanced features
Cons
- Limited access to some trading tools and indicators
- Comparatively fewer educational resources compared to some competitors
Our Opinion
Exness makes an amazing choice for traders who have set the priority of low prices, speedy execution, and a wide selection of trading tools. The broker’s robust regulation and worldwide presence also make an impact on its reputation as a relying and trustworthy Forex provider.
2. JustMarkets
JustMarkets is one of the top forex brokers worldwide that has made its reputation for its amazing study resources and various ranges of trading instruments. JustMarkets is controlled by the Financial Services Commission of Mauritius and the Australian Securities and Investments Commission (ASIC).
Features
- Combative spreads entry from 0.0 pips.
- Various choices of trading tools, which Forex, CFDs, and commodities.
- Complete educational resources, which video tutorials, webinars, and market analysis.
- Strong trading platform with arrangeable characteristics and third-party integration.
- Nonstop multilingual helpline.
Pros
- Amazing educational resources for newcomers and middle-level traders
- A variety of trading tools and new platform characteristics
- Competitive costs and tight spreads
- Regulation by some reputable financial authorities
Cons
- Limited access to some niche trading tools
- Comparatively a smaller choice of account types as compared to some competitors
Our Opinion
JustMarkets makes an amazing choice for traders who have set education and access to a variety of trading instruments as their priority. The broker’s complete educational resources and new platform features make it a good choice for those seeking to develop their trading skills and strategies.
3. XM
XM, also known as XM.com, is the best reputable forex broker that provides competitive spreads, a customer-friendly platform, and various types of accounts to both novice and knowledgeable traders. XM is regulated by various financial authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC).
Features
- Spreads of a tight nature starting from 0.0 pips
- Variety of account types, which includes Micro, Standard, and Shared accounts
- Modern trading platforms, including MetaTrader 4 and MetaTrader 5
- Detailed educational references, including webinars, tutorials, and market analysis
- Continuous multilingual customer helpline
Pros
- Cutthroat competition type spreads and low trading prices
- Various account options to be appropriate for different trading styles
- Strong trading platforms with advanced characteristics
- Extensive educational references for novice and intermediate traders
Cons
- Limited access to few trading instruments and indicators
- Taking out and deposit fees for a few payment ways
Our Opinion
XM is an all-rounded forex broker that feeds traders of all expertise levels. Characteristics like competitive spreads, user-friendly platforms, and detailed educational resources make it a robust option for traders seeking to start or grow their Forex trading journey.
4. XTB
XTB, also known as X-Trade Brokers, is a renowned Forex and CFD broker with a robust reputation for being reliable and having a wide selection of trading assets. XTB is regulated by various financial authorities like the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).
Features
- High competition in spreads and commissions
- A varied range of trading tools, including Forex, CFDs, stocks, commodities, and cryptocurrencies
- Natural and customer-friendly trading platforms, that include xStation and MetaTrader 4
- Strong research and analysis instruments, including market news, economic calendar, and trading signals
- The multilingual helpline is available continuously
Pros
- Wide selection of tradable assets and markets
- Good reputation with a reliable and regulated broker
- Customer-friendly trading platforms with modern features
- Complete research and analysis instruments
Cons
- Accessibility of some niche trading tools
- Withdrawal and installment fees for particular payment ways
Our Opinion
XTB is an amazing choice for traders who seek reliability, a variety of trading tools, and a customer-friendly trading experience. The features like the broker’s robust regulatory standing and wide range of product offerings make it a good option for both novice and expert traders.
5. AvaTrade
AvaTrade with characteristics like social trading and complete study resources, is a top forex broker, which makes it the right option for both novice and expert traders. AvaTrade is modulated by various authorities including the Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC).
Features
- Cutthroat spreads and lower trading prices
- Varied trading tools, with Forex, CFDs, cryptocurrencies, and commodities
- Social trading characteristics, with mirror trading and trading signals.
- Extensive educational resources, which include video tutorials, webinars, and trading guides
- A multilingual helpline is available continuously
Pros
- Amazing social trading quality and copy trading abilities
- Strong educational resources for traders of all expert levels
- Regulation by some of the reputable financial authorities
- Diverse in choosing tradable tools
Cons
- Accessibility of some new trading tools and indicators
- Withdrawal and installment fees for certain payment ways
Our Opinion
AvaTrade is an all-rounder one of the biggest forex brokers that is suitable for both novice and expert traders. Its social trading characteristics and comprehensive educational resources make it an engaging selection for traders seeking to learn, grow, and potentially become the experts of other successful traders.
6. Pepperstone
Pepperstone is a reputable forex and CFD broker that has advanced trading instruments and a professional executing system, which makes it a more popular choice among skillful traders. Pepperstone is regulated by a few financial authorities. Authorities include the Australian Securities and Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA).
Features
- Tighter spreads and low trading prices.
- Strong and arrangeable trading platforms, that includes MetaTrader 4, MetaTrader 5, and cTrader.
- New trading instruments, like automatic trading methods and mirror trading.
- Complete research and analysis resources, which include market news, economic calendar, and trading signals.
- Nonstop multilingual customer support
Pros
- Executing quality and speedy order evaluation.
- Extensive modern trading instruments and characteristics
- Regulation by reputable financial authorities.
- Good customer support and study references.
Cons
- Accessibility of some niche trading tools
- Not an appropriate option for beginner traders
Our Opinion
Pepperstone is a good choice for expert traders who put professional-grade execution, new trading instruments, and a strong trading ecosystem as their priority. The strong regulatory standing of the broker and its reliability make it a trustworthy choice for traders who are looking for advanced forex trading experience.
7. Oanda
Oanda is known as one of the best forex brokers which gives a competitive cost, a customer-supportive platform, and imposes a high focus on education. This makes it a better choice for novice and experienced traders. These brokers are regulated by some financial authorities. These authorities include the US Commodity Futures Trading Commission (CFTC) and the UK’s Financial Conduct Authority (FCA).
Features
- Cut-throat competition spreads and commission-free trading.
- Instinctive and arrangeable trading platforms, include its proprietary platform and MetaTrader 4.
- Detailed study resources, which include various webinars, tutorials, and market analysis
- Automated trading instruments, like algorithmic strategies and mirror trading.
- Nonstop multilingual customer helpline.
Pros
- Cutthroat competition cost and commission-free trading.
- Customer-supportive trading platforms with enhanced characteristics.
- Amazing study references for traders of all levels.
- Regulation by some of the reputable financial authorities.
Cons
- Restricted accessibility of some niche trading tools.
- Removal and deposit fees for particular payment ways.
Our Opinion
Oanda is a suitable forex broker for both newcomers and experienced in trading. It primarily focuses on study, customer-supportive platforms, and competitive cost making it a good choice for traders who are looking to develop their trading skills and strategies. This will also keep them entertained with a reliable Forex trading experience.
Factors to examine when selecting a Forex Broker
It is important to consider factors like regulation, executing speed, trading costs, platform characteristics, study resources, and company-customer support while selecting the best Forex broker for you. Evaluation of these features helps in finding a good broker that adjusts according to your style of trading and personal preferences.
Conclusion
In conclusion, the selection of the appropriate and safe forex broker is an important decision for any trader. This decision impacts your experience in trading and monetary outcomes. The brokers we have mentioned in this article- Exness, XM, JustMarkets, XTB, Pepperstone, AvaTrade, and Oanda speak for a mixed range of options that come along with their unique characteristics, strengths, and deliberation.
Choosing the best forex broker in the world highly depends on your trading needs, risk profile, and your particular preferences. It is always beneficial to compare and research various Forex brokers of your interest with one another. This will help you to find the one such Broker that would adjust with your Forex trading goals and plans.