5 Best Web Based Brokers in 2021

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Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Web-based brokers are those Forex brokers that support Forex trading solely in the Internet browser window without installing any trading software. We have organized a list of Top web-based brokers to help you make the right decision.

1
AvaTrade
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options
2
Plus500
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best platform for new Forex traders
Trailing stop losses
3
BlackBull Markets
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Solid broker for scalping and hedging
Institutional-style trading opportunities for retail traders
4
FXTM
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best all around broker
High floating leverage + fast execution
5
Eightcap
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Globally trusted, award-winning broker offering free education
Lightning fast, reliable execution on over 200 markets

AvaTrade
5.0/5 in this category
In Summary
Highly regulated, choice of fixed or floating spreads

AvaTrade was founded in 2006 in Dublin, Ireland. They are one of the largest and most famous Forex / CFD brokers in the world and became well-known for offering their clients a choice of fixed or floating spread cost of trading models. They enjoy an extremely high and strong level of regulation, making them a favorite for traders who are extremely nervous about the security of their deposit, which in Ireland can be protected by a strong investor deposit protection provision. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava’s maximum leverage offered runs as high as 400 to 1.

Unique Features

Headquarters

Ireland

Year Founded

2006

Type of Broker

ECN/STP

Minimum Deposit

$100

Maximum Leverage

1:400

Type of Platform

MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based

In addition to their longevity and safe reputation, clients know that through AvaTrade they have access to a broad range of asset classes through which diversification can be achieved successfully: AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. Even better, and unusually, 2 bonds and 6 ETFs are also on the menu. The diversity offered here stands out.

Whether you are located within the European Union or not, all branches of AvaTrade will offer you negative balance protection, above and beyond what is mandated by the law. This means that under no circumstances will any client of AvaTrade ever be held liable by the firm for an amount larger than their deposit.

 

AvaTrade Pros & Cons

Pros

Cons

Well-regulated globally, with the Bank of Ireland, the primary regulator

Low leverage for retail traders

 

Low minimum deposit and in-depth educational tools

High quarterly inactivity fee

 

Wide asset choice across seven sectors

Unacceptable cost for AvaProtect

 

Superior mobile trading platform

 

 

Plus500
5.0/5 in this category
In Summary
Wide range of CFDs + trailing stop losses

Plus 500 offers a wide choice of Forex pairs and non-Forex assets as commission-free CFDs. While this broker neither supports automated trading solutions nor social trading, manual traders have a clean user-interface, guaranteed stop-loss orders at an additional cost, alerts on price movements, and a trader sentiment indicator. This FTSE 250 listed broker maintains a safe and secure trading environment and offers a wide range of equity CFDs and an extensive selection of options contracts, allowing more sophisticated trading strategies. Plus 500 takes an opportunistic approach to Bitcoin and cryptocurrencies, offering a choice of 14 crypto pairs for traders.

Unique Features

Headquarters

Israel

Regulation

CySEC, FCA, ASIC, FMA, FSB, MAS

Year Founded

2008

Type of Broker

Market Maker

Minimum Deposit

$100

Maximum Leverage

1:30

Type of Platform

Proprietary platform, Web-based

Traders using smartphones or tablets will feel at home at Plus 500, where a report suggests mobile devices account for over 40% of all executed trades. Plus 500 does not offer in-house research and does not source it from third-parties, while the limited educational content is below average. It does maintain a News and Market Insights section, where it uploads commentary several times per week, but not necessarily daily. Despite its few shortfalls, it remains a highly ranked CFD provider on Google Play and Apple App Store, particularly with millennial traders.

 

Plus500 Pros & Cons

Pros

Cons

Well-regulated globally

Low leverage for retail traders

 

Broad asset selection in equities and options

Sub-standard trading platform without support for automated or social trading

Guaranteed stop-loss order

No research and limited, below-average educational content

 

Lack of trading tools

 

BlackBull Markets
4.5/5 in this category
In Summary
Competitive ECN trading environment with scalping and hedging available

BlackBull Markets is a relative newcomer as a Forex broker, being founded in 2014 in New Zealand, which along with Australia, has become something of a haven for exciting Forex brokerages. Like many antipodean brokerage houses, BlackBull Markets is an ECN broker, offering raw spreads and competitive commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1.

Unique Features

Headquarters

New Zealand

Regulation

FSPR, FMA

Year Founded

2014

Type of Broker

ECN/STP

Minimum Deposit

$200

Maximum Leverage

1:500

Type of Platform

MetaTrader 4, MetaTrader 5, Web-based

In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia

BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should not worry the average trader who is more concerned to have a normal range of markets to trade without being overly worried about diversification.

BlackBull Markets impresses through a kind of quiet confidence – they do not make extravagant claims, they simply focus on providing the basics required for ECN trading well and at a reasonable cost.

BlackBull Markets requires a minimum deposit of $200 which may put it out of the range of traders intending to make smaller deposits, at least initially.

 

BlackBull Markets Pros & Cons

Pros

Cons

High leverage of up to 1:500

Limited asset selection

ECN/NDD execution model from a minimum deposit of $2,000

No MT4 upgrades despite labeling itself as a FinTech company

Competitive ECN pricing environment and volume-based rebate program

 

VPS hosting and social trading support via market-leading providers

 

FXTM
4.5/5 in this category
In Summary
Best all-around: high floating leverage + fast execution

We have made FXTM our top-rated broker because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.

Unique Features

Headquarters

Cyprus

Regulation

CySEC, FCA, FSC, CMA

Year Founded

2011

Type of Broker

Instant/Market Execution

Minimum Deposit

$10

Maximum Leverage

Flexible

Type of Platform

MetaTrader 4, MetaTrader 5

FXTM, or “ForexTime”, has been around for a long time: they were founded in 2011. Recent years have seen them continue to steadily expand their business, and they are well- regulated by the U.K., Cyprus, Mauritius, and South Africa. The brand is owned by private companies incorporated in the U.K., Cyprus, and Mauritius. Customers of FXTM have access to more than 57 Forex currency pairs and crosses, precious metals, the major energies, equity indices, big cryptocurrencies, and a few individual American stocks. Talking of stocks, FXTM are quite unique in the area of trading stocks, as they enable direct trading through real legal ownership, not just wrapped as CFDs like almost every other similar brokerage offers.

FXTM offers traders a choice between two of the most popular execution models: customers may open either an ECN-type account, or one that trades by “straight-through processing”. Clients have a straight choice between two trading platforms, with both MetaTrader 4 and MetaTrader 5 on offer.

Through their Mauritius regulator, FXTM offer leverage as high as 1000 to 1. In the U.K. and Cyprus, they are limited by law from offering more than 30 to 1.

If you are looking for a broker with a good copy trading program, it is worth taking a serious look at FXTM’s “FXTM Invest” copy trading program.

FXTM Pros & Cons

Pros

Cons

Excellent client deposit protection

No cryptocurrencies or exotic currencies

 

Low minimum deposit

Low leverage for retail traders

 

Free MT4 add-ons and VPS hosting

Internal withdrawal fees and an inactivity fee

Good educational tools

 

 

Eightcap
4.5/5 in this category
In Summary
Competitive pricing + excellent daily videos

Unique Features

Headquarters

Australia

Year Founded

2009

Type of Broker

None

Minimum Deposit

$100

Maximum Leverage

Maximum Leverage 1:30 (or 1:500 for non-Australia clients)

Type of Platform

MetaTrader 4, MetaTrader 5

Eightcap Pros & Cons

Pros

Cons

Low minimum deposit and high leverage of up to 1:500

Limited asset selection

Competitive ECN cost structure

 

Excellent technology infrastructure and seasoned management team  
Daily research and quality educational content

 

Web-Based Trading

Recent studies show that 89% of computer users stay with one of the various versions of Windows and very few use Linux or Mac. To deal with the problem, the Forex industry has come up with a good solution: web-based trading platforms, accessible from pretty much any browser. Since web-based platforms require no installation, they are welcomed not only by traders who use operating systems other than Windows, but also by users who trade from different locations around the world and prefer not to have the need to install the same application on a number of computers.

Before deciding if web-based trading is for you, review the list of Top web-based brokers below. The fact that a broker is web-based should not be the only consideration you are looking at. Forex brokers must meet your needs in many other ways. We have organized this list to help you make the right decision.

Huzefa Hamid

Huzefa Hamid is a retail Forex trader with substantial financial market knowledge and derivative products' expertise. He trades currencies, equities, futures, commodities, treasuries and options. Huzefa wrote the Fibonacci retracement levels course for FX Academy, as well as other courses, and is the author of dozens of articles about Forex trading and the online finance industry. Huzefa is an industry researcher and uses technical analysis for trading as he believes that technical indicators offer the cleanest way to predict the future direction of price movements.