Do you think that the value of Euro will go up against US dollar? If you do, you may want to trade the Euro/US dollar currency pair. The Forex market is the largest and most liquid in Europe where you can find all world currencies. Take into account that trading is carried out 24 hours a day 5 days a week.

In order to Forex trade, you need an online broker. Trading with a good Forex broker is crucial for achieving success on international currency markets. As a currency trader or investor, you may have special needs related to your platform, instruments, or research demands. If you understand your investment style, you can realize which Forex broker will suit you most of all.

Every year the team of ForexBrokers.com spends five months to test the largest currency companies and develops a guideline for the best Forex brokers for Forex and CFDs trading. These are the 2021 results.

Top 2021 Forex Brokers

• Interactive Brokers - Great for professionals and institutions
• eToro - Best copy trading platform
• Saxo Bank - Best for research
• FOREX.com - Great all-round offering
• IG - Best overall, most trusted
• CMC Markets - Best web platform, most currency pairs
• XTB - Best customer service, great platform
• TD Ameritrade FX - Excellent trading platform, US only
• City Index - Great all-round offering

	Best overall IG regulated and trusted worldwide offers traders a full package of great instruments for trading and research, as well as the best education in the area, competitive prices, and a long list of traded products., This fantastic experience makes IG the best broker in 2021 (75% of retail investors’ accounts lost money).
	Best for research The traders who can afford the minimum deposit in the amount of 10,000 USD can use the offers of Saxo Bank: wonderful trading platforms, great research, competitive prices, reliable services for customers, and more than 40,000 trading instruments (70% of retail investors’ accounts lost money).
	Great for professionals and institutions Forex and CFDs professional traders that are looking for a global broker with several assets will find out that Interactive Brokers offer a comprehensive trading platform of the institutional level and competitive fees (66% of retail investors’ accounts lost money).
	Best web trading platform, most currency pairs CMC Markets is a broker that is trusted in the whole world. It offers wonderful prices, almost 10,000 trading instruments, and the Next Generation platform. The latter includes high quality research, innovational trading instruments and excellent charts (73% of retail investors’ accounts lost money).
	Excellent trading platform, US only The thinkorswim platform from TD Ameritrade offers almost 80 currency pairs for trading, as well as many trading instruments. It guarantees excellent experience for traders on the Forex market in the USA.
	Great all-round offering City Index of GAIN Capital is a reliable brand which traders use for its leading trading platform, an excellent mobile application, various marker research, education, and a large range of markets.
	Best customer service, great platform Being a reliable broker with several assets, XTB offers traders excellent services and great trading experience through the use of the xStation 5 platform (82% of retail investors’ accounts lost money).
	Great universal offer FOREX.com is not a discount broker. However, this is a reliable brand that guarantees great trading experience for Forex and CFDs traders worldwide (79% of retail investors’ accounts lost money).
	Best copy trading platform eToro is a winner because of its simple to use platform for copy trades where traders can copy investors’ trades by using more than 2,300 instruments including the securities, Forex, CFDs, and cryptocurrencies traded on the market (67% of retail investors’ accounts lost money).

Overall Ranking for 2021

This is a general ranking of 27 online brokers that participated in the review.

These are 11 online brokers who participated in our 2021 review that was sorted by the general rating in terms of the following criteria:

Brokers	Research	Commissions & Fees	Mobile Trading	Offering of Investments	Platforms & Tools	Education	Overall Rating	Trust Score	Open Account
IG								99	Visit site
Saxo Bank								99	Visit site
CMC Markets								99
Interactive Brokers								94	Visit site
TD Ameritrade								98
City Index								93
XTB								92	Visit site
FOREX.com								93	Visit site
eToro								93
Swissquote								99
FXCM								93	Visit site
AvaTrade								93	Visit site
XM Group								84	Visit site
FP Markets								81
Plus500								98
Pepperstone								92
IC Markets								85	Visit site
Tickmill								81	Visit site
OANDA								89
FxPro								89	Visit site
Vantage FX								79
Moneta Markets								79
HYCM								84	Visit site
Eightcap								73
VT Markets								79
BlackBull Markets								70
OctaFX								59

2021 Category Winners

According to the 2021 annual review from ForexBrokers.com all online brokers participants were estimated on 108 variables in seven main categories. In total, there were 2,916 data points. This is how they were tested.

In addition to the main categories, ForexBrokers.com ranks brokers by the most popular categories of investors. More than that, every year ForexBrokers.com honors the brokers who do their best in the areas that are the most important for investors. 2021 winners in the main category of the best Forex brokers

Other Forex Brokers

In addition to the best 2021 online brokers, 18 brokers more were considered. They are IC Markets, Tickmill, Pepperstone, VT Markets Swissquote, FXCM, Octa FX, AvaTrade, XM Group, Plus500, OANDA, FxPro, Vantage FX, Moneta Markets, HYCM, FP Markets, Eightcap, and BlackBull Markets. These are general conclusions about each of them. To learn more, read the reviews below.

	10. Swissquote Those traders who are ready to pay a bonus for their broker account to be opened in a Swiss bank choose Swissquote because it provides a competitive offer with several assets. Nevertheless, the offer of Swissquote in Great Britain provides better prices in spite of the fact that it offers a less range of markets.
	11. FXCM Although the range of the tradable markets is narrow, and the prices are average, the traders who value reliable trading instruments along with high quality market research will find FXCM a winner.
	12. AvaTrade AvaTrade is a worldwide recognized brand. It is famous because it offers traders a wide range of trading platforms. According to testing, AvaTrade is suitable for trades copy, and it is competitive for mobile devices. More than that, it is a winner in educating investors.
	13. XM Group While XM Group tries to counter the area leaders, in terms of the platform options, the range of markets and prices XM Group provides great educational content and marker research.
	14. FP Markets Although FP Markets lacks behind the leaders in terms of research and education, spreads on MetaTrader are quite competitive, which helps FP Markets to be perceived as a cheap broker for Forex and CFDs trading.
	15. Plus500 Plus500 is a worldwide famous brand that is trusted by many investors. It offers online traders an easy-to-use trading platform and a thorough choice of CFD instruments. Although Plus500 lacks behind the leaders of the area in terms of the market research and advanced trading instruments.
	16. Pepperstone Pepperstone offers a small range of products. In spite of this, it provides one of the largest sets of the third-party platforms, including several options for trading copies via social networks.
	17. IC Markets IC Markets is perfect for algorithmic traders by suing their accounts based on commissions. Nevertheless, the range of markets and research materials offered by IC Markets do not much impress.
	18. Tickmil Tickmill is a simple MT4 broker that offers the minimum selection of tradable instruments. At the same time, Tickmill offers competitive commission price4s for professionals through their VIP- and PRO-accounts.
	19. OANDA OANDA is one of the most famous brands. It offers Forex and CFDs a limited choice of currency pairs and CFD. At the same time, it has a perfect reputation and high-quality market research.
	20. FxPro FxPro competes with the leading MetaTrader brokers and offers a full range of MT4 and MT5 platforms with several accounts. The main disadvantage of the balanced offer is a price that is higher than the average in the area.
	21. Vantage FX Vantage FX offers Forex and CFD traders a package of the MetaTrader platform, as well as several platforms of the social trade and their own mobile application. However, it lags behind the leaders in terms of the key areas like education, mobile application, and research.
	22. Moneta Markets Moneta Markets is a new brand operating within Vantage Group. It tries to compete with the average industry ratios in the main categories that are crucially important for Forex and CFD traders.
	23. HYCM (Henyep Markets) Its history is legendary and it impresses. However, when it comes to trading currencies and CFD in Europe and the neighboring countries, it is nor impressive at all.
	24. Eightcap In fact, Eightcap offers a small range of markets and does not carry out outstanding research. It offers traditional education, platforms and accounts. At the same time, it does its best to compete with the best Forex brokers.
	25. VT Markets VT Markets enters the Vantage group of companies, and gets profits from this. It tries to compete with the best Forex brokers because of the limited offer of research, platforms and instruments, as well as the limited range of available markets.
	26. BlackBull Markets BlackBull Markets has only MetaTrader 4 and several trading platforms. It offers the limited range of products and competes with the leading Forex brokers.
	27. Octa FX OctaFX provides traders mainly with traditional platforms like MetaTrader and cTrader. In addition to the European license to Cyprus, OctaFX is not regulated in the main jurisdictions, which is disadvantageous as compared to other Forex brokers.

Which Forex broker charges the lowest commissions?

As for pricing, Tickmill offers the most competitive all-in cost for trading. Tickmill offers three accounts and is suitable for active and VIP traders that have access to the prices that compete with the lowest brokers in the industry. The all-in cost uses typical data about the spread listed by Tickmill for its Pro account that offers 0.13 pips for EUR/USD, and the total cost is 0.53 pips taking into account the RT commission that is equivalent to 0.4 pips.

Methodology: In order to assess the brokers, the experts take into account the amount beginners, average traders, as well as experienced traders will have to pay by investigating the average spreads for standard Forex contracts (100,000 units) and mini (10,000 units) and macro accounts (100 units). After that, the all-in cost is calculated including any round-turn fee added to prevailing spreads.

What Forex broker has the best platform?

The Next Generation platform from CMC Market offers a trader to choose one or several instruments. In total, on the platform there are 10,000 ones. It provides a striking user interface, extended instruments, and the comprehensive market research. Besides, there is a wonderful mobile application. The Next Generation platform is undoubtedly the market leader that is sure to impress the most demanding traders.

What Forex broker offers the most CFDs?

The most tradable CFDs in the industry are offered by IG. These are 19,537. CFDs (also known as “contracts for difference”) let traders speculate on if the price of a Forex pair, a stock, commodity, or market index will decrease or increase without owning the basic asset.

What Forex broker offers the greatest number of currency pairs?

Saxo Bank offers more than 9,000 CFDs. Besides, here you can deal with the most tradable currency pairs. In total, this number is 170. The only remark in relation to Saxo Bank is high demands to the broker’s minimum deposit for non-residents of Great Britain.

What Forex broker offers the best customer service?

XTB placed 300 phone calls to assess the customer service in all parts of Great Britain. Based on the results, it offered the best phone service. The connection time has never been longer than one minute. According to 13 total calls, XTB obtained the average Net Promoter Score of 9.0 out of 10.

Methodology: For assessing the customer service ForexBrokers.com and Customerwise, the group of researching the customer experience, made phone tests from various places in Great Britain. In order to make the 2021 review, 300 tests of servicing customers during eight weeks were carried out. Ten unique samples were used. Each call included three questions, in average.

What Forex broker is the most suitable for a professional?

Active traders are offered liquidity rebates by CMC Markets. They start from 5 USD per million when at least 25 million USD are surpassed in notional trading volumes per month up to 10 USD for those who trade more than 300 million USD per month. This program is available only for professional customers. If for August 2020 the average spread data is 0.74 pips on the EUR/USD, the all-in cost on the highest tier will be 0.64 pips. It can be compared to similar programs offered by Saxo Bank (0.6 pips) and IG (0.59 pips).

Status of a professional customer: Today the Forex world is strictly regulated, and the Forex traders who want to maximize their margin leverage should submit an application and obtain the status of a professional ESMA customer. This status is provided by a broker. The traders marked as professionals in the EU do not get the negative balance protection and other mechanisms for the customer safety (for example, the right for compensation schemes if the broker is insolvent).

Methodology: The active trading program of each Forex broker was broken down to assess brokers for the professional trade by comparing the available discounts, general costs, and levels. In addition to pricing, the trading platform of each broker was tested subject to advanced trading instruments most often used by professionals.

How to choose a Forex broker?

These are three most crucial factors to take into account when selecting an online broker for Forex trading. Firstly, make sure that your broker’s activity is duly regulated. Your deposit safety is your priority. Secondly, compare trading platforms, investment research, and instruments. Thirdly, read Forex brokers’ reviews to compare prices and offers of products (for example, the number of currency pairs and CFDs that are available for trading).

How can I find out whether my Forex broker is regulated?

It is extremely important to use services of a well-known and duly regulated broker to avoid Forex frauds. If you want to check whether your broker is regulated, firstly, define the registration number in the text of disclosure found in the bottom of your broker’s home page. If the broker is not regulated in your country, make additional research. In order to help traders, our service assesses and ranks Forex brokers in more than 20 international regulating bodies.

What is the difference between a dealing center and agency broker?

If a Forex broker works as a dealer (also known as a dealing-desk), he will always be opposite to his client’s trades. If a Forex trader is not on the other side of his client’s trades, he will act as an agent (an agent broker) redirecting the trade to another dealer.

Besides, there are hybrid-desks that can operate as dealing-desks and agencies. Finally, matched-principals are the dealers that who hedge their trades to avoid any potential conflict of interests.

How to calculate trading costs?

For CFDs and Forex trading, the all-in cost of every trade consists of the spread and any turnover commissions. Besides, there can be expenses for financing overnight known as carrying costs. The latter can be either a net credit (refund) or a net debit (loss). In order to maintain trading cost low, a trader should focus on trading the basic currency pairs (for example, EUR/USD) that offer the most liquidity, and, consequently, the tightest spreads (the lowest costs).

Methodology

For the 2021 Forex Broker Review, 27 international Forex brokers were assessed and ranked. Every broker was assessed according to 108 various parameters. In total, more than 50,000 research words were produced.

Although the broker’s participation was appraised, it was not obligatory. Every broker was offered to fill in a detailed data profile and devote the working time (in-person or online) for the annual update meeting.

All brokers’ data were hand-checked subject to accuracy. As a result, the error rate is lower than 0.1% per year. Thus, website visitors are offered high quality data to be trusted.