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Best Forex Brokers Ranked And Reviewed

Best FX Trading Brokerages – Overall Rating

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Home » Best FX Trading Brokerages – Overall Rating

Choosing a trusted forex broker is an extremely important step in your currency trading endeavors.  New online currency trading brokerages pop up all the time with various levels of regulatory oversight. This makes it even more difficult to decide which one is the best FX broker for you.

ConnectFX has identified the best overall forex brokers based on a balanced weighting of our 6 ranking criteria.  These ratings are the product of meticulous research into every aspect of a brokers’ services, operations, and history.  This is a good resource for you to familiarize yourself with each broker as well as the strengths and weaknesses of their offerings.

Recommended Currency Trading Companies

Recommended
1
AvaTradeAvaTrade
Open Account
9.5Overall Rating
  • Trusted Forex Broker Regulated in 5 Jurisdictions With Monthly Trading Volume Exceeding $60 Billion
  • Broad, Deep Product Palette Spanning Forex Options, Digital Currencies, Stocks, Commodities, ETFs, Bonds, Indices
  • Many Options For Automated Trading Including Mirror Trader, Zulu Trade, MQL 5, Signal Trader
  • Choice of Fixed or Floating Spreads and Leverage up to 400:1
  • Market Analysis and Educational Resources From Reputable Independent Providers Like Autochartist, FXInsights, Dow Jones, and Hushtrade
AvaTrade Review
Recommended
2
EasyMarketsEasyMarkets
Open Account
9.08Overall Rating
  • A 10+ Year Veteran of the Forex Market with a Strong Presence in Europe and Asia
  • One of the Few Brokers to Provide Guaranteed Stop Losses and Negative Balance Protection
  • Protect your portfolio with Deal Cancellation - undo losing trades for up to 60 minutes
  • Deep Product Coverage with CFDs on 95 Forex Pairs and Vanilla Forex Options on 26 pairs
  • Personal Assistance with Trade Strategy and Order Execution from Dealing Room
EasyMarkets Review
Recommended
3
HotForexHotForex
Open Account
9Overall Rating
  • Offers 7 Account Types to Meet Needs of all Types of Traders
  • STP Broker with Tight Fixed and Variable Spreads and No Miscellaneous Fees
  • One on One Consultations with Chief Market Analyst for VIP Accounts
  • Winner of 16 Prestigious Industry Awards in the Last 3 Years
  • Initial Deposit of only $5 for Micro Accounts
HotForex Review
4
Markets.comMarkets.com
Open Account
8.92Overall Rating
  • 24 Hour Award Winning Customer Service with Support from Personal Account Managers and Trading Specialists
  • Competitive Trading Terms with High Speed Execution, No Commissions or Fees, Choice of Fixed or Floating Spreads
  • Excellent Educational Resources including 1 to 1 training, Demo Accounts, Tutorials, Webinars, eBooks and Charting Aids
  • Exclusive Real Time Market Analysis with 24 Hour News, Commentary and Trading Signals
  • Broad Product Offerings with Over 200 instruments Covering Forex, Stocks, Indices, Commodities and Bonds
Markets.com Review
5
Trade360Trade360
Open Account
8.75Overall Rating
  • An innovative crowd trading platform that allows you understand market direction in real time
  • Generous promotions including a $50 no deposit bonus, $60 demo trading bonus, 40% initial deposit bonus up to $4,000, and cash back bonuses up to $5,000
  • Beginner friendly, intuitive web trading platform and mobile apps
  • Fast and easy signup process with your Facebook or Google account, chat support via What’s App
  • Low fixed spreads and no deposit or withdrawal fees
Trade360 Review
6
XM.comXM.com
Open Account
8.5Overall Rating
  • XM is a Leader in Trade Execution with a No Requotes / Rejection Policy, 99.35% of Trades Executed in Less Than 1 Second
  • One of Few Brokers to Provide Negative Balance Protection and Guaranteed Stop Loss / Limit Orders
  • Offers Low Fixed Spreads and Up To 888:1 Leverage **NOTE: Leverage depends on the client's country of residence and can vary.**
  • $5 Minimum Deposit, 11 Base Currencies, 25 Funding Options
  • Plentiful Educational Resources with Daily Analysis, Live Webinars 5 Days a Week and Over 100 In Person Seminars
XM.com Review
7
Plus500Plus500
Open Account
  • No Frills CFD Provider with Low Transaction Costs
  • Strong Mobile Platform Including iOS, Android, and Windows Apps
  • One of the broadest range of instruments including CFDs on bitcoin, ETFs, and Index Options
  • A Good Choice for Experienced Traders Looking to Keep Transaction Costs Low
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.5% of retail investor accounts lose money when trading CFD's with this provider. You should consider whether you can afford to take the high risk of losing your money.
Plus500 Review
8
TradeoTradeo
Open Account
8.33Overall Rating
  • Recognized as the Best Social Platform of 2016 and featured in TechCrunch, Mashable and Wall Street Journal
  • A unique social trading experience where you can privately chat with other users
  • Social Web Trader and MT4 Integration allowing you to trade the same account
  • Unprecedented level of transparency showing other traders open positions, orders, and past trades
  • Reasonable transaction costs compared with other social trading services
Tradeo Review
9
Forex TimeForex Time
Open Account
8.33Overall Rating
  • A solid, reasonably priced, and full-featured broker suitable for traders of all types
  • Award winning customer service with 90% positive feedback, quick and painless account opening
  • Offers EURUSD spreads as low as 0.1 pips for certain accounts
  • Choose between dealer desk or ECN execution, Metatrader 4 or 5
  • Offers many managed forex account programs including PAMM, Signal and Strategy Providers
Forex Time Review
10
eToroeToro
Open Account
7.83Overall Rating
  • Cutting Edge Social Trading Technology Connects You with 4.5 Million Traders in 170 countries
  • Find Like-Minded Traders, Review Their Portfolio and Performance, Discuss Trades, Strategies and Market Conditions
  • Copy Their Trades in Your Own Account in Real Time without Paying Any Out of Pocket Fees
  • Experienced Traders Can Monetize Trading Expertise by Allowing People to Copy Their Trades
  • Only $50 Minimum Deposit to Open an Account
eToro Review

Foreign Exchange Brokers Ranking Summary

Here’s a table summarizing our ratings for the Best Overall Forex Brokers of 2023.

BrokerRatingBonusEstablishedTypeRegulationAddressTelephone
AvaTrade9.50$400 referral bonus2006Market MakerIreland, Japan, Australia, British Virgin Islands, South AfricaFive Lamps Place, Amiens Street, Dublin, Ireland+1 212 9419609
EasyMarkets9.0850% deposit bonus2001Market MakerAustralia, CyprusAjeltake Road, Trust Company Complex, MH 96960, Ajeltake Island, Majuro, Marshall Islands+357 25828899
HotForex9.00100% deposit bonus, 30% rescue bonus, 100% credit bonus2010ECN, STP, DMASt. Vincent, Mauritius, Cyprus, South AfricaSuite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines+44 2033185978
Markets.com8.92$25 no deposit bonus2006Market MakerCyprus, South Africa148 Strovolos Avenue, 2048 Strovolos, Nicosia, Cyprus+44 2031500380
Trade3608.75$50 no deposit bonus, 40% deposit bonus, cashback rewards2013STP ECNCyprus116 Gladstonos Str., Michael Kyprianou House, 3rd and 4 floor, 3032, Limassol, Cyprus+44 2036958525
XM8.50$30 no deposit bonus, 20% deposit bonus2009Market MakerCyprus, United Kingdom, Australia12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus+357 25029933
Plus5008.33-2008Market MakerAustralia, Cyprus, United KingdomN/AN/A
Tradeo8.33$100 referral bonus2012STP ECNCyprus333, 28th October street, Ariadne House, 3106, Limassol, Cyprus+44 2036089905
Forex Time8.33up to $5 per lot cashback bonus, $25 referral bonus2011Market Maker STP ECNCyprus, South Africa, Belize35, Lamprou Konstantara Street, FXTM Tower, Kato Polemidia, 4156 Limassol, Cyprus+44 2037341025
Etoro7.83$100 referral bonus2007STP ECNCyprus, United Kingdom, Australia7 Omirou Street, Limassol, Cyprus 3095+357 25030234
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