The following is a comprehensive Forex brokers list. You can rest assured that the broker reviews listed below were conducted with the utmost level of professionalism and objectivity. It is highly recommended that you read them, open a demo account with several different Forex brokers, and only then begin trading the Forex market.
You might also be interested in our Top Brokers List for 2023.
How do I know if my Forex broker is regulated?
Regulated Forex brokers list their regulators and license numbers on their websites. Forex traders should go to the regulator's website and cross-check their database to ensure their Forex brokers have regulatory oversight.
Can I trade Forex without a broker?
Forex trading without a broker is theoretically possible but so expensive and inefficient as to be a complete waste of time. Such options include banks, exchange offices, and peer-to-peer exchanges. Yet to trade Forex profitably, a broker must be used.
What does a Forex broker do?
A Forex broker connects traders to the Forex market and enables trading. Traders get trading platforms, assets, quotes, and other trading tools from a Forex broker, which is also responsible for deposits and withdrawals, held in separate accounts with custodian banks. Forex brokers either fill orders internally or pass them on. They connect with liquidity providers in an automated process which includes human oversight.
Can a Forex broker steal your money?
While a Forex broker can theoretically steal your money, it is unlikely to happen, especially with well-regulated brokers. Some market maker brokers may engage in stop-loss hunting, an indirect method to drain money from trading accounts. Overall, the risk remains low at well-regulated brokers.
Which broker has the most users?
IQ Option claims almost 50 million traders, making it the broker with the most users, followed by eToro with nearly 25 million, but no independently verified data is available. Traders should not focus on the size of the broker but focus on the quality of the trading environment.
How many Forex brokers are there in the world?
No precise figure is available, but with 1,231 MT Forex brokers, the total number should exceed at least 1,500.
Who is the biggest Forex broker?
It depends on the metrics, and official data is unavailable. IC Markets ranks among the biggest per daily trading volumes. Forex.com, XM, Saxo Bank, and HotForex also clearly rank in the top five. IQ Option has the most claimed users, while Charles Schwab leads the assets under management (AUM) category.