Best Forex Brokers

IC Markets, now branded IC, offers forex and CFD trading on MetaTrader 4, MetaTrader 5, cTrader and TradingView with three account types: Raw Spread on MetaTrader with spreads from 0.0 pips and $3.50 per-lot-per-side commission, Raw Spread on cTrader at $3.0 per $100k, and Standard with spreads from 0.8 pips commission-free. All carry a $200 minimum deposit and leverage up to 1:500 per the broker's account table. Global clients, including clients from Asia and Africa, trade with Raw Trading Ltd, which is licensed by the Financial Services Authority of Seychelles (SD018), and it is headquartered in Eden Island, Mahe. The group has historically held ASIC (335692) and CySEC (362/18) licences, though its current regulation page discloses only the Seychelles entity. Founded 2007 in Sydney. Terms last verified against IC Markets' own pages on 5 October 2026.

Pepperstone offers forex and CFD trading on MetaTrader 4 and 5, cTrader, TradingView and its own platform through two account types: Razor with spreads from 0.0 pips and $3.50 per-lot-per-side commission on FX and gold, and Standard with spreads from 0.1 pips commission-free. Neither has a minimum deposit. Leverage reaches 1:500 for professional clients; retail clients are capped at 1:30 under UK, EU and Australian rules. Founded in 2010 in Melbourne, Pepperstone runs six licensed entities: Pepperstone Group Limited (ASIC, AFSL 414530), Pepperstone Limited (FCA UK, 684312), Pepperstone Financial Services (DIFC) Ltd (DFSA Dubai, F004356), Pepperstone Markets Limited (SCB Bahamas, SIA-F217), plus BaFin-licensed German and CySEC EU arms. Terms last verified against Pepperstone's own pages on 5 October 2026.

Exness is a forex and CFD broker that was established in 2008. The company offers five types of trading accounts: Standard from $10 and Standard Cent from $10, which is commission-free with spreads from 0.2-0.3 pips, Pro from $200 with spreads from 0.1 pips and no commission, Raw Spread from $200 with spreads from 0.0 pips and up to $3.50 per side per lot, and Zero from $200 with zero spreads on major pairs from $0.20 per side. Leverage can reach 1:Unlimited on equity below $5,000, also decreasing the ratio to 1:2000, 1:1000 and 1:500 for higher account balances. MT4, MT5 and the Exness Trade app are available as trading platforms. The main website is run by Exness (SC) Ltd, which is licensed by the Seychelles Financial Services Authority (SD025). The UK and Cyprus branches, Exness (UK) Ltd (FCA 730729) and Exness (Cy) Ltd (CySEC 178/12), are not available to retail clients. Other licenses include FSCA South Africa, BVI FSC, and Curaçao CBCS. The information was last checked against the Exness website on 5 October 2026.

Fusion Markets is an Australian forex and CFD broker founded in 2017, built around two account types: Classic with spreads from 0.9 pips commission-free, and Zero with spreads from 0.0 pips at $2.25 per side ($4.50 round turn). Neither has a minimum account size. MetaTrader 4, MetaTrader 5, cTrader and TradingView are supported, with leverage up to 1:500 offshore and a 1:30 retail cap for Australian clients. Australian clients trade under FMGP Trading Group Pty Ltd (ASIC, AFSL 385620). International clients are served by Gleneagle Securities Pty Ltd trading as Fusion Markets (VFSC Vanuatu, company 40256) or Fusion Markets International Ltd (FSA Seychelles, SD096). Terms last verified against Fusion Markets' own pages on 5 October 2026.

FP Markets, established in 2005, is the trading name of the First Prudential Markets group, headquartered in Sydney, Australia. Its Australian entity, First Prudential Markets Pty Ltd, holds an ASIC licence; a Cypriot arm is regulated by CySEC, a South African entity by the FSCA, and its Seychelles operation by the Financial Services Authority. The group is also a registered company in Saint Lucia, which is a company registration rather than a financial licence. Two MetaTrader accounts are offered: Standard with spreads from 1.0 pip commission-free, and Raw with spreads from 0.0 pips and $3 per lot each way, both with a $100 minimum deposit and leverage up to 1:500 on offshore entities; retail clients under ASIC and CySEC are capped at 1:30 on major pairs. Iress accounts for direct share trading start at $1,000. Terms last verified against FP Markets' own pages on 5 October 2026.

XM operates through a group of separately licensed companies in Belize, Cyprus, Australia, the UAE, South Africa, Kenya, the British Virgin Islands and Mauritius. A client is regulated only by the entity with which they contract, and the licences listed on this page are the ones that apply to the account you would actually open. XM Global Limited is the entity through which XM provides its international brokerage services, and it is the operator of www.xm.com. It is a limited liability company formed in Belize with its registered office at Suite 101, 63 Eve Street, Belize City, licensed and regulated by the Belize Financial Services Commission as a Securities Service Provider under the Securities Industry Act 2021, licence number 8557558. XM does not accept clients resident in the United States. XM reports more than 20 million clients across over 190 countries, support in more than 30 languages, and over 13.5 billion trades executed with zero requotes or rejections, with 99% of trades executed in less than one second. The instrument range covers more than 1,400 assets across forex, indices, equities, precious metals, energies and commodities. Four retail account formats are offered: Micro, Standard, Ultra Low Micro and Ultra Low Standard. All use market execution, charge no trading commission, and include negative balance protection and an Islamic swap-free option as standard. The minimum deposit is $5. A micro lot equals 1,000 units, with minimum trade volume 0.1 lots and maximum 100 lots; a standard lot equals 100,000 units, with minimum trade volume 0.01 lots and maximum 50 lots. Stop-out is 20% and margin call is 50%. Leverage is equity-based rather than flat. Up to 1:1000 applies between $5 and $40,000 of equity, then 1:500 up to $80,000, 1:200 up to $200,000, and 1:100 above that. The wider XM group holds separate licences for clients in other jurisdictions: Trading Point of Financial Instruments Ltd (CySEC 120/10) for the European Union, Trading Point MENA Limited (DFSA F003484, Dubai) for the UAE, Trading Point of Financial Instruments Pty Ltd (ASIC 443670) for Australia, XM ZA (Pty) Ltd (FSCA 49976) for South Africa, TPXMGLOBAL Kenya Limited (CMA 233) for Kenya, XM (BVI) Limited (FSC BVI SIBA/L/25/1182) and XM International MU Limited (Mauritius FSC GB23202700). None of those other licences applies to an account opened with XM Global Limited. Clients resident in the UAE are served by the DFSA-regulated entity.

AvaTrade is a forex and CFD broker established in 2006 that operates under eight different entities, depending on the jurisdiction of a client opening an account. Specifically, Ava Trade Markets Ltd. is licensed by the BVI Financial Services Commission (BVI SIBA/L/13/1049), and it hosts the main website (avatrade.com). AVA Trade EU Ltd. is regulated by the Central Bank of Ireland (C538777), DT Direct Investment Hub Ltd. has a CySEC license (347/17), Ava Capital Markets Australia Pty Ltd. holds an ASIC license (406684), Ava Capital Markets Pty has FSCA number 45984, Ava Trade Middle East Ltd. is regulated by ADGM’s Financial Services Regulatory Authority (190018), Ava Trade Kenya Limited has a CMA Kenya license (262), and Ava Trade Japan K.K. is licensed by Japan’s Financial Services Agency (1662). The instruments range from forex to indices, commodities, stocks, bonds, ETFs, and cryptocurrencies. The broker does not charge a commission for trades; instead, it profits from the spreads between the bid and ask prices. The trading platforms include MetaTrader 4, MetaTrader 5, AvaOptions (options and FX options trading), and web and mobile applications. The information was last updated on the broker’s website on 5 October 2026.

ThinkMarkets was founded in 2010 and operates under the TF Global Markets group. New accounts are opened with TF Global Markets Int Limited, regulated by the Financial Services Authority of Seychelles (SD060). The group also holds an FCA licence (TF Global Markets (UK) Limited, FRN 629628), a CySEC licence (TF Global Markets (Europe) Ltd, 215/13), an FSCA licence (FSP 49835), a DIFC/DFSA registration (F004173) and a CIMA licence (TF Global Markets (International) Ltd, 1612531). Its Australian entity is a Corporate Authorised Representative rather than a direct ASIC licensee. Leverage is dynamic, starting at 1:5000 on FX majors for smaller positions and reducing as position size grows. Not available to residents of the EU, UK, US, Canada, Bermuda, Russia, India, Japan and St Lucia.