9 Best Forex Brokers 2021 You Should Know

    Are you looking for a reliable and trustworthy Forex Broker? If yes, then look no further. We have compiled the best list of brokers that are available in the market today. These brokers offer their services to both retail as well as professional traders.

    A list of 9 Best Forex Brokers 2021


    This is one of the most popular online trading platforms with over $4 billion traded on its platform every day. It offers an easy-to-use interface which makes it suitable for beginners who want to start investing in foreign exchange markets. 

    They also provide free demo accounts so that new investors can test out how things work before they invest any money. Their customer service team is very helpful when dealing with issues or queries.


     Plus500 was founded back in 1999 by two brothers from Israel. This company has been around since the early 2000s and now operates across more than 30 countries worldwide. Its main focus lies within CFD's. Traders will be able to trade currencies such as EUR/USD, GBP/JPY, USD/CHF, AUD/CAD, etc. 

    There are many different types of account plans offered by this brokerage firm including standard, mini, micro, mini pro, micro pro, ultra, super, mega, and hyper. All these account plans come with various features like stop-loss orders, trailing stops, leverage up to 1:1000, margin calls, risk management tools, social trading, educational materials, news feeds, technical analysis software, mobile apps, API access, webinars, live chat support, email alerts, real-time quotes, 24-hour phone support, multi-language websites and much more.

    IG Group 

    IG group provides clients with high-quality financial products at competitive prices. In addition to offering traditional currency pairs, the IG group also allows customers to trade commodities, indices, stocks, ETF's, cryptocurrencies, and bonds among other instruments.


    Clients get access to multiple asset classes through a single account. Trading takes place via telephone, internet, SMS, fax, e-mail, and even paper-based methods.

    IG Group is regulated by CySEC, FCA, and ASIC.


    Etoro is another leading global provider of digital assets. Founded in 2006, etoro currently serves millions of users globally. It focuses mainly on providing binary options but recently launched cryptocurrency trading too.

    Saxo Bank 

    In terms of forex trading, Saxo bank is considered to be one of the largest banks in Europe. Saxo Bank offers a wide range of investment opportunities ranging from futures contracts to stockbroking.


    Trade Station is a US-based forex broker that specializes in ECN. It was established way back in 1986 and ever since then has remained loyal to its original principles of being "the fastest-growing electronic communications network dedicated solely to the business needs of active international traders".

    The company provides both retail and institutional level services allowing their brokers to offer their services to small individual traders all the way up to large hedge funds.


    AvaTrade is a European broker which deals only in Forex. They have gained a reputation over the years for having low spreads and fast execution times, while still maintaining great security standards. Their website is very user-friendly and they provide lots of useful data about each instrument traded.

    ICM Markets 

    ICM markets is a relatively new broker but it already managed to gain popularity amongst traders. We recommend checking out their promotions before opening your first account!


    InteractiveBrokers is a U.S.-based forex broker founded in 1994 whose headquarters are located in St Louis. This broker features advanced tools such as technical analysis indicators, streaming charts and news feeds.

    Some say this broker lacks liquidity compared to others because of its minimal funding requirement; however, most consider IB safe due to tight regulation and solid customer support.

    Characteristics of a Good Forex Broker

    When choosing a good forex broker you should look for some key characteristics. These include:

    Low Spreads - A good broker must keep spread sizes reasonable. Ideally, you would want to find a broker who charges just pennies per pip rather than dollars or euros. Remember that every penny counts when dealing in volatile foreign exchange rates.

    High Leverage Rates - You shouldn't need to use more than 5% of your deposit when using leverage. If you do, there may be something wrong with the broker.

    24/7 Customer Support - Don’t go anywhere else if you can handle live chat sessions throughout the day. Also, make sure that any phone calls made will not result in an automated system where you cannot talk to a human agent.

    Flexible Withdrawal Methods - Look into how easy it is to withdraw money from your accounts. Do they charge fees? Are there minimum requirements? Keep in mind that wire transfers take longer to process than other withdrawal methods. Check on whether the method takes 3-4 days or 2 weeks depending upon what country you reside in.

    Regulation - Find out if the broker is regulated by a major financial regulatory body like CySEC, ASIC, FCA. Ask yourself why you want to trade through a particular broker. Is it because they are cheap or simply because everyone uses them?

    Security - Make sure that your personal information is kept secure at all times. Never share your login details with anyone. Avoid providing too much sensitive information during registration. Always remember to logout after trading so no one can access your account without permission.

    Trading Platforms - There are many different platforms available today. Each platform offers unique benefits and drawbacks. Choose wisely.

    Frequently Asked Questions

    What is Forex Trading?

    Forex is a market where two currencies are bought and sold against each other. It's also called currency pair trading. The main difference between spot FX trades and futures contracts lies in the fact that the former involves immediate delivery of the underlying asset whereas the latter does not involve the physical transfer of ownership until the expiration date. In addition, futures contracts allow investors to speculate on future price movements instead of trying to predict current trends.

    How Does Currency Exchange Work?

    Currency pairs are traded 24 hours a day around the world. When buying or selling a currency pair, traders have the option of either going long or short. Long positions are taken up by borrowing funds from banks while shorting means taking advantage of borrowed assets. Traders borrow cash from their brokers which allows them to buy or sell large amounts of currency quickly.

    Why Should I Trade Forex?

     There are several reasons for people to start trading Forex:

    To earn extra income

    It has been proven that Forex trading generates higher returns compared to traditional investments such as stocks and bonds. According to some studies, the average annual return rate for Forex trading ranges between 10%-20%. This makes it possible for even small traders to generate significant profits over time.

    To diversify risk

    When investing in stock markets, most people tend to put all their eggs in one basket. However, when trading Forex, this is impossible since every single currency pair is independent of each other. Therefore, it becomes very difficult to lose everything overnight.

    To hedge risks

    When using foreign exchange rates to protect themselves against inflation, consumers benefit greatly. For example, let us say that the U.S dollar depreciates significantly against another currency. If an American consumer buys goods priced in dollars but pays for these items in euros, he will be able to offset his losses due to depreciation. On the flip side, if the euro appreciates against the U.S Dollar, then the same person would suffer losses. By hedging against inflation, individuals gain protection against rising prices.

    Where Can I Learn More About Forex?

    The best place to learn more about Forex is online. You can find plenty of resources through forums, blogs, videos, etc. Here are just a few websites you may want to check out:

    Is Forex Legal?

    Yes! As mentioned earlier, Forex is legal provided that you follow certain rules and regulations set forth by various countries' governments. These include things like anti-money laundering laws, Know Your Customer, Anti-Bribery Laws, etc.


    Bottom Line

    If you're looking to make money with Forex, there are many ways to do so. Some methods require minimal capital investment while others demand substantial sums. Regardless of your financial situation, learning how to trade Forex should definitely be at the top of your list. Good luck!


    • December 7, 8.00
      D. jhon shikon milon

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