Best Forex Trading Sites

When we set out to judge the best forex trading sites, we recognize we are all living through a particularly volatile stretch, dealing with the aftershocks of a global disruption that reshaped financial markets and affected every investor. Our mission at Easy Trading has always been to help people make informed decisions about how, when, and where to invest, and how to pick the best trading sites. Given recent market swings and the changes sweeping the online brokerage industry, we remain committed to giving readers unbiased reviews and our analysts’ ranking of the best trading sites for traders at every level, across every type of market. For how it compares with other brokers, see our roundup of the best forex brokers.

Best Forex Trading Sites:

Our picks for the best trading sites come loaded with tools that help you measure and manage risk while you decide which trades to place. They also come with real educational value that helps you grow as a forex trader.

Through extensive research and strict adherence to our methodology, we identified the best trading sites across every category, then built the ranking below.

Our mission has always been to help you make better-informed decisions about how, when, and where to trade and invest, given the swings in the market and the shifts in online forex brokerage.

We are committed to giving readers unbiased reviews and hands-on assessments of the best trading sites for traders of every level and every market type. Below is our ranking of the best trading sites in the forex market:

First – XM

XM is one of the best trading sites, an online broker for currencies and CFDs with more than 3.5 million clients since it was founded in 2009. XM has grown into a large international investment company and a leader in the field, currently employing more than 450 professionals with years of experience in the financial sector, plus customer support in over 30 languages, which makes XM a preferred broker for traders of every level, everywhere.

Because XM is one of the best trading sites, you can deposit and withdraw through more than twenty-five different, secure methods, and XM offers sixteen full-featured trading platforms, along with 24-hour, five-day-a-week personal customer service.

Trading with a trustworthy, well-regarded broker means every client gets the same fair, ethical trading terms regardless of net worth, investment size, or account type. XM delivers a fair, trustworthy trading experience built on a strict no-requote, no-rejection order-execution policy. On top of that, 99.35% of all trade orders are executed in under one second, with no requotes and no rejected orders.

At XM, client funds come first: every client benefits from negative balance protection, so they never risk losing more than their account balance. XM has also visited more than 120 cities worldwide to connect with clients and partners face to face, because the company believes in the value of real human contact. As a result, XM enjoys a high level of client retention.

Trading platforms:

As one of the best trading sites, XM gives every client the choice between the world’s most popular forex and CFD trading platforms. Clients with any account type can choose either MetaTrader 4 or MetaTrader 5. Both systems are well known, intuitive, and easy to understand, and have been around for years, enjoying huge popularity within the retail trading community.

Some traders may want to dig deeper into the platform on offer, but the vast majority of traders who consider becoming XM clients find the available options suitable. XM also offers MT4 and MT5 for both Windows and Mac, giving traders unrestricted access across platforms.

On top of that, MT4 and MT5 mobile apps for both Apple and Android let traders access an account with full functionality from a smartphone or tablet.

It is worth noting that XM, as one of the best forex trading sites, is not a scam – proof of that, beyond what we mentioned above, is that XM holds a relatively strong level of regulation and licensing. It is owned by Trading Point of Financial Instruments UK Ltd, a British company, though XM is officially headquartered in Cyprus and Australia, two well-known jurisdictions recognized as major hubs for running forex and CFD brokerages. Clients residing outside Australia can open accounts based in and regulated from Cyprus, while Australian residents get accounts based in Australia.

XM is registered and licensed by the Cyprus Securities and Exchange Commission (CySEC), registered and licensed by the International Financial Services Commission (IFSC), and also registered and licensed by the Australian Securities and Investments Commission. It is also registered and licensed by the Dubai Financial Services Authority (DFSA).

XM’s Cyprus regulation gives clients a degree of investor protection, which is part of what makes it one of the best trading sites – CySEC maintains an investor compensation fund that can pay depositors who lose their accounts due to a regulated firm’s failure up to €20,000.

Traders interested in trading the major individual forex pairs should give XM serious consideration as a preferred broker and one of the best trading sites.

[AFF-CTA: pending]

Second – Equiti Group

Equiti Group Ltd is the parent company of some of the most advanced brands in forex and CFDs and one of the industry’s leading brokerage providers. It has more than 150 employees globally and offers 24-hour, six-day-a-week customer service. Equiti gives clients access to retail, corporate, and institutional brokerage services through various affiliated entities.

Equiti, one of the best trading sites, is a global brand used by a group of companies offering corporate and institutional services worldwide through decentralized international offices. The company also has offices in Jordan operating under the Equiti Jordan brand, plus offices in Dubai, Nairobi, London, Auckland, Miami, and Yerevan.

The company aims to deliver an easy, secure, and profitable trading experience through innovative technology, including integrated NDD and ECN execution technology, professional trainers, transparency, and excellent service.

Advantages as one of the best trading sites:

• Global reach with a strong focus on the Middle East and North Africa
• Swap-free and Islamic accounts
• A good set of trading tools, though no round-the-clock support
• An offering designed for both beginners and professionals
• Low commission trading fees

Equiti Group licensing:

Regulation and licensing are the first things to check when choosing among the best trading sites – it means the broker is supervised and complies with the rules that make trading and investing safe in a given jurisdiction.

Equiti is licensed and regulated across various regions, with the regulatory commitment varying by country. The company holds licenses from Dubai and Jordan for the MENA region and is overseen by CySEC and ESMA, and it offers negative balance protection.

Generally, different regulators and authorities require a set of rules that create a trustworthy environment for investors and traders. At this company, all individual client funds are fully segregated under client-money rules, which protect your funds and keep them safe, alongside participation in compensation schemes in the event of insolvency.

Equiti, as one of the best trading sites, offers leverage of up to 1:500, which opens the door to trading larger volumes relative to your starting balance and maximizing your capacity. That said, the maximum leverage available also depends on which Equiti entity you trade with.

This means that if your trading account is opened under the UK’s FCA regulation, the maximum leverage allowed is 1:30 for forex instruments, while regulations in the MENA region still allow higher floating leverage levels.

Payment options at the company:

The payment options for funding your account include a range of convenient methods, such as card payments, bank transfers, or e-payments through Neteller or Skrill.

The minimum deposit is $500 to start funding a new account, meaning an account can be opened with any amount that fits your budget, but this minimum must be deposited first. Professional accounts require more than $20,000, which is a very large amount compared to other CFD brokers.

There is also a minimum for e-payment providers like Neteller and Skrill, which require at least $50 per transfer.

Finally, the company supports MetaTrader4, the most widely used option among traders, alongside the WebTrader – EQTrader web version, which gives instant online access to trading. The company also provides solid support on the MT4 and WebTrade platforms, a platform built for forex and technical-indicator trading, with no restrictions on strategies, and support for multiple languages.

[AFF-CTA: pending]

Third – Tickmill

Tickmill, one of the best trading sites, is a straightforward MT4 broker offering a limited range of tradable securities. That said, Tickmill offers highly competitive, commission-based pricing for professionals through its VIP and PRO accounts.

Tickmill was founded in 2014 and is licensed in several countries and jurisdictions, which makes it a safe (medium-risk) broker for forex and CFD trading. With only MT4 on offer, Tickmill does not compete as broadly against the best trading sites, as it isn’t the strongest fit for beginners.

Tickmill’s pricing is highly competitive, which helps the broker close positions and trades after deducting commissions and fees. Tickmill also competes well on the professional trading side, having earned a top-seven industry ranking in 2021.

Tickmill is also competitive in the market research it offers, and keeps improving its research year after year. Even so, Tickmill still trails industry leaders IG and Saxo Bank in depth, customization, and overall quality.

Among the most important trading tools Tickmill provides is the Autochartist tool for automated technical analysis, while Myfxbook powers the broker’s economic calendar, with forex news headlines streaming from the site as well.

As one of the best trading sites, Tickmill also offers copy trading – alongside the native MQL5 signal marketplace available on MT4, Tickmill also offers the AutoTrade feature on Myfxbook for social trading.

Tickmill has a team of analysts producing daily technical and fundamental analysis on the company blog. In our reviews of the best trading sites, we found this broker does a solid job covering the markets with a variety of research content for traders. Tickmill also offers archived webinars and videos on technical and fundamental analysis, along with news updates, on its YouTube page.

Trust and safety:

Tickmill is considered medium-risk with a medium trust score as well. Tickmill isn’t publicly traded and isn’t run by a bank. Rather, Tickmill is licensed by official, international authorities in the field of international trade, most notably the FCA.

Tickmill also offers a total of 85 tradable symbols, mostly currency pairs, along with dozens of CFDs on indices, metals, and bonds.

The company is also an MT4-only broker, with no notable extras to set it apart among the best trading sites, aside from Autochartist, which helps Tickmill stand out among the top MetaTrader brokers.

Finally, it’s worth noting that this company offers active-trader rebates – Tickmill offers three tiers for active traders, with rebates starting at $0.25 per standard lot for up to 1,000 standard lots per month, up to $0.75 in tier three for those trading more than 3,001 standard lots per month.

[AFF-CTA: pending]

Fourth – Exness

Exness was founded in 2008 and operated under FCA and CySEC licenses starting October 28, 2019, which is one reason it counts among the best trading sites. The company also announced the closure of its regulated retail operations in the UK and Cyprus. Exness now operates out of Seychelles under its Nymstar branch and continues to expand – as of December 2019, it had 72,721 active traders worldwide, with monthly trading volume of $325.8 billion.

Exness works hard toward full transparency and publishes its financial reports, audited by Big Four firm Deloitte, on its website. That comes alongside a minimum deposit of just $1, maximum leverage of 1:2000, and a competitive cost structure. Exness also serves a broad range of traders and offers numerous strategies on the MT4/MT5 trading platforms.

Exness is listed with the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC) as international trade regulators. It’s worth noting that this regulatory oversight applies only to Exness’s B2B business division. All international retail clients trade with the affiliated Nymstar entity, which operates out of Seychelles and is licensed by the Seychelles Financial Services Authority (FSA).

The client agreement also discloses that Exness may use client deposits at its discretion – for example, it may place deposits in interest-bearing accounts and keep any earnings from them. The trading environment on this site can’t be ruled out as one where Exness benefits from client losses as it grows its internal balance sheet, so every trader needs to weigh whether the trading terms on offer are acceptable to them.

Nymstar Limited is Exness’s sole subsidiary serving retail traders and is licensed by the Seychelles Financial Services Authority (FSA).

Fees at the company:

Exness publishes a fairly complex fee and commission structure based on the five account types it offers clients, and most traders will find the terms on the Pro account most favorable, with EUR/USD spreads starting at 0.6 pips with no commission. There are also swap rates on overnight positions and third-party deposit/withdrawal fees. MT4 or MT5 traders can also easily check swap rates from their platform on the company’s site.

As one of the best trading sites, this company offers 107 currency pairs, giving Exness one of the most comprehensive forex market coverages available today. Forex traders will find this selection excellent, rounded out further by seven cryptocurrencies and twelve commodities.

Diversifying across assets through 40 stock and index CFD contracts is one of the most important traits of the best trading sites as a forex broker. Exness gives its traders a market-leading set of options, though stock traders may be disappointed by the relatively limited number of choices.

[AFF-CTA: pending]

Fifth – FBS

FBS was founded as an international broker, one of the best trading sites, serving clients from more than 190 countries since 2009, a track record reflected in numerous prestigious awards and advanced technology in the forex market. The broker was originally established in Belize only, and FBS has since also become a Cyprus-based broker, which certainly helps expand its service to European residents, for both beginner and professional traders.

It’s also subject to international regulation and licensing – European legislation has brought it fully into a legal framework, giving it greater capacity with useful tools and a fully licensed trading service, which has pushed FBS to develop further. In our review of the best trading sites, this company proved highly competitive in the forex market.

It’s recognized globally with many industry awards, and precautionary measures and trading terms vary by relevant country. The company also runs active social campaigns and offers both MT4 and MT5 platforms alongside copy-trading capability.

Safety at the site:

FBS is a brand name used by Tradestone Limited, a Cyprus company registered under the EU’s MiFID framework and registered with CySEC. That makes it one of the best options among the best trading sites we feature on Easy Trading.

FBS also has additional branches in the Marshall Islands and Belize, offshore jurisdictions that don’t really establish credibility on their own. The International Financial Services Commission, a local Belize regulator, only registers companies rather than actually regulating them.

But its compliance with European CySEC regulation makes FBS a broker that meets regulatory requirements and international safety and licensing standards, giving it reliable trading conditions as one of the best trading sites.

Trading with a regulated broker that adheres to strict standards is an important first step before signing up with any trading firm. On this front, with the license FBS holds and its compliance with the MiFID directive, there are strict rules on protecting funds – FBS keeps traders’ funds in segregated accounts, making them inaccessible to any other company, on top of enhanced capacity and negative-balance protection. As a Cyprus investment firm, FBS falls under a compensation scheme that protects client investments if the broker becomes insolvent.

Leverage and trading conditions:

Leverage levels clearly increase your trading size by letting you multiply your starting balance, providing major opportunities for higher gains. As usual, leverage is offered based on several factors, including your experience level, place of residence, the instrument you’re trading, and the degree of regulatory restriction you fall under.

When trading with a European entity, you can use leverage of 1:30 on major currency pairs, while FBS International may offer leverage ratios as high as 1:1000 or even 1:3000 at times. That said, always make sure you learn to use leverage wisely, not just to boost profit but to reduce the risk of losing money quickly. In practice, higher leverage carries higher risk of loss alongside the chance of higher profit, which may not be the best option for beginners either.

FBS account types include both demo and live trading accounts that offer exactly what you might be looking for, regardless of experience level. We strongly recommend the demo account for beginners who want to test FBS’s forex trading environment.

There’s also a strong factor that may make it one of the best trading sites out there and support your choice of this broker: its fee structure. You’ll typically pay the spread on every order you place, plus overnight fees, inactivity fees, and withdrawal fees where applicable.

You should also always check FBS’s overnight or swap fees if you run a swing strategy and hold positions for more than a day. Each instrument has its own rate, which you can see as an example on the site or check directly on the platform.

Trading tools at FBS:

For the trading service itself, FBS offers transparent trading terms using popular instruments including forex and metals, all linked to sub-second execution through an STP model. FBS also invests in technology, making the trading process smoother and more convenient, backed by the strong execution it provides.

That said, we don’t want the range of instruments to feel too limited – there are around 40 currency pairs on offer, including exotic pairs, plus 6 CFD indices, alongside metals and energies, another reason to describe the site as one of the best trading sites. If you prefer trading stocks, futures, or a wider range of assets, it’s better to also consider other brokers.

FBS also supports high-volume trading and offers a solid order-execution platform through the market-leading MetaTrader4, also available with the newer MetaTrader5 and FBS Trader.

Finally, web trading is very convenient since you don’t need to download or install any software – you simply log in online through a browser and can trade instantly. That said, Web Trader typically comes with fewer tools or parameter customization and is a somewhat simplified version of the platform.

[AFF-CTA: pending]

Sixth – Pepperstone

Since opening its doors in 2010, Pepperstone Group has stood out as one of the top-tier best trading sites in the online brokerage landscape. It built a highly competitive, full-featured trading gateway focused on forex, stocks, indices, metals, commodities, and even cryptocurrencies.

An opening minimum deposit of 200 units of the base currency helps new traders enter the market, backed by leverage levels of up to 1:500. The company is also regulated in the UK, registered with the Financial Conduct Authority (FCA) as well as the Australian Securities and Investments Commission (ASIC), like many of the best trading sites and forex brokers, and Pepperstone does not accept US-based traders.

Client accounts are kept separate from company funds, adding an extra layer of security during turbulent periods. Support options here are plentiful, highlighted by round-the-clock chat and phone support, plus a functional FAQ section covering clearly defined policies on deposits, withdrawals, and trading disputes.

It also supports numerous desktop, mobile, and web-based platforms, an industry-standard product catalog, above-average educational resources, tight spreads, and multiple account types, delivering a trading experience that appeals to beginner and professional traders alike. Weighing all of the above, we at Easy Trading named Pepperstone one of the best trading sites and a top forex broker for the trading experience it delivers.

Reasons it ranks among the best trading sites:

Pepperstone advertises minimum spreads starting from one pip with no commission on the Standard account, or zero spread with a commission on the Razor account, which is highly competitive in retail forex brokerage.

Pepperstone is regulated and licensed by the Financial Conduct Authority (FCA), one of the leading regulatory agencies in the UK, highly regarded worldwide for its strictness in keeping market practices fair for both individuals and firms.

Simply put, being regulated by a reputable, government-backed agency goes a long way toward establishing a company’s credibility. Traders accept the risks inherent to the markets, but they want peace of mind knowing their money isn’t exposed to risks beyond the ones they’re taking on, such as counterparty risk. On top of that, all client funds are held at top-tier banks.

Pepperstone also offers negative balance protection, though only for its UK clients. This has become a fairly important feature offered by most online brokers these days, likely spurred on by the Swiss National Bank event of January 15, 2015, which rattled markets, especially the highly leveraged forex market.

Pepperstone gives clients a choice between MetaTrader 4/5 and cTrader, an advanced system with direct liquidity-provider pricing and sophisticated technical features including detachable charts, backtesting, and algorithmic strategy support.

Fees at the site:

Pepperstone’s costs are highly competitive in the online brokerage industry, another reason it counts among the best trading sites. New clients can choose between the Standard account, with minimum spreads starting at one pip with no commission, or the “Razor” account, with minimum spreads starting from zero pips but with an added commission – all other instruments Pepperstone offers carry either fixed spreads or a mix of spread plus commission.

That comes from the site’s attempt at transparency around spreads – assuming in good faith that any highlighted discrepancies are errors from a lack of oversight, and that there’s no difference between MT4 and MT5 in terms of forex spreads, Pepperstone’s spread costs rank among the lowest available in the online forex space.

The minimum to open an account is 200 units of the account’s base currency, and funding options are extensive, including Visa, MasterCard, POLi, bank transfer, BPay, PayPal, Skrill, and Union Pay, with the broker stating that “funding options are fee-free for traders in most countries.” We found no idle or inactivity fees when reviewing the site’s disclosures and FAQ. Pepperstone appears not to charge an inactivity fee, which is rare in this market, though there are fees for international bank withdrawals as an exception.

Required margin varies by the instrument being traded, but can only be found in the “New to Trading” FAQ section on their website. That said, prospective clients can access margin requirements for all available products by logging into the secure client area, using the trading tools, and the margin calculator.

Finally, Pepperstone gives clients a complete trading experience within the online forex brokerage community. As one of the best trading sites, it stands out with the broker’s fast execution systems, multiple account types, competitive pricing, and multiple platforms – MT4, MT5, and cTrader – ahead of the vast majority of forex brokers worldwide.

Being regulated here by the Financial Conduct Authority (FCA) lends the company credibility, though the inconsistency of offering negative balance protection without a guaranteed stop-loss is somewhat concerning. Overall, Pepperstone delivers an exceptional trading experience for every type of trader, whether tight spreads for the cost-conscious trader or a feature-rich interface for the more tech-savvy one.

[AFF-CTA: pending]

Seventh – IC Markets

IC Markets is an Australian CFD broker that has been operating since 2007, one of the top choices for high-frequency and high-volume traders, as well as those who prefer automated trading solutions, and IC Markets also offers an Islamic account.

IC Markets’s Raw Spread connectivity bridge gives forex traders access to institutional pricing and liquidity, which is part of what makes it one of the top best trading sites. More than 500,000 trades are executed daily, 60% of them through automated trading solutions, with an average execution time of 40 milliseconds, maximum leverage of 1:500 for all clients, and tight spreads down to 0.0 pips – IC Markets has earned a prominent place in today’s highly competitive brokerage industry through our reviews.

Safety at the site:

The Australian Securities and Investments Commission (ASIC) and the Seychelles Financial Services Authority (FSA) provide an excellent regulatory framework for IC Markets clients. IC Markets also runs an affiliated entity under a CySEC license, though trading conditions there are noticeably less favorable, as is common with EU regulatory requirements.

Professional indemnity insurance is provided through Lloyd’s of London and H Savy Insurance in Seychelles. Client deposits are also segregated and held at National Australia Bank and Westpac. IC Markets is a member of the Australian Financial Complaints Authority (AFCA), engages independent auditors, and applies policies under Australia’s 2006 Anti-Money Laundering and Counter-Terrorism Financing Act.

Fees:

IC Markets traders get access to a fair, satisfying pricing environment, with an average EUR/USD spread of just 0.1 pips against a $7 round-turn commission on the Raw Spread account, and an Islamic, commission-free IC Markets account is also available, where the lowest recorded spread is 1.0 pip and the average EUR/USD spread is 1.1 pips.

Short sellers aren’t charged stock-borrowing fees unless the counterparty hedges and passes a charge on to IC Markets. Swap fees also apply to leveraged positions held overnight, while corporate actions affect equity positions. Bank transfer fees or additional third-party payment-processor fees may apply, and overall the broker’s pricing structure stays competitive enough.

IC Markets focuses on the most liquid assets across seven asset classes, in line with its appeal to scalpers and automated trading solutions. The result is excellent and suitable for most traders given the exceptionally comprehensive trading environment, and any future improvements would simply add to this broker’s value. Deep liquidity strengthens this broker’s appeal and standing as one of the best trading sites, making it a strong choice for asset-management firms and high-frequency traders. Forex traders will find the availability of 60 currency pairs with maximum leverage of 1:500 an excellent offering.

IC Markets’s Islamic account:

IC Markets offers clients Islamic accounts, also known as swap-free accounts, which comply with beliefs that don’t permit financial dealings involving interest. The interest-free Islamic account option is available on both the Raw Spread and Standard accounts, and can be traded on MetaTrader4, MetaTrader5, and the cTrader platform.

IC Markets is committed to giving its clients the best possible trading terms, and its Islamic accounts run on advanced trading infrastructure and fast execution speeds that let its traders gain a competitive edge as one of the best trading sites. The interest-free accounts apply to all currency, metal, and index trades, except for exotic currency pairs, Brent crude, natural gas, and WTI, where a small financing fee applies to positions held open overnight for more than a day – meaning trades left open for more than one day in those pairs get charged a fixed financing rate. The rate and holding period can change with market conditions as needed, and the company’s own commissions and spreads apply on both Raw Spread and Standard accounts.

Finally, traders can access multilingual support around the clock. Live chat is the most convenient way to reach the team. Additional options include email and toll-free numbers, and the help center tries to answer the most frequently asked questions to cover every client inquiry.

[AFF-CTA: pending]

Frequently Asked Questions

Are forex trading companies scams?

Not every trading company is a scam, but investors should watch for shell companies that lack official trading licenses and are run by untrustworthy individuals. It’s always recommended to check a company’s licenses, business registration, and reviews from past investors before putting money into it.

What is the best forex trading company?

There’s no single trading company that suits every investor – it depends on the investor’s needs, experience level, and investment goals. Among the well-known names worth considering for forex trading are FXTM and XM.

What are the best forex trading platforms?

Many forex trading platforms are available, and they vary in features and tools. Popular ones worth considering include MetaTrader 4, MetaTrader 5, cTrader, and NinjaTrader.

What is the best broker for trading?

You can’t name the single best trading broker without knowing an investor’s needs, requirements, and experience. Factors to weigh when choosing a broker include licensing and regulation, available tools and features, ease of use, trading costs, and customer support. Reviews and feedback from other traders can also help.

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