10 Best Regulated Forex Brokers (February 2023)

10 Best Regulated Forex Brokers (February 2023)

Do not invest more money than you can afford to lose.

 

To choose the right broker for you might prove quite challenging, as some brokers tend to be more suitable for experienced traders, while others, like FXTM and XM, provide comprehensive educational materials and support, which might prove indispensable for those of you who make their first steps on the forex market.

In the same time there are brokers like HFM, OctaFX, FBS and eToro, which offer outstanding copy trading services, where you can follow the trades of experienced traders and profit whenever they do. That might prove a pretty attractive option as well, especially for those of you who can not spare much time analyzing the markets themselves.

Here we have come with a selection of 10 names, which are fairly popular among the global trading community and which undoubtedly rank among the best brokers ever – FXTM, FP Markets, OctaFX, XM, HFM and FBS to name a few.

And if you ask us why we have omitted some big brands like IG or Oanda, it is because in the case of IG the broker is too big and to be honest they will not support your account unless you are willing to deposit a fairly good amount of money – at least 10 000 USD – no matter what their minimum deposit requirement actually says. And the same applies for Oanda and TD Ameritrade – some of the best known brokers in the U.S.

The brokers selected here on the other hand, will allow you to start trading with a minimum amount and will take care of you as a client no matter where you come form, how much money you are willing to deposit or how experienced you are.

FXTM

Following its exponential growth on the European market and beyond after it was launched back in 2011, it would not be an exaggeration to say that FXTM quickly became one of the best known and most trusted brands in the forex industry. Currently FXTM is a global leader in online trading, offering excellent trading conditions, advanced education for beginner and experienced traders alike, and the best trading tools one can possibly wish for. FXTM services well over 4 million clients in some 150 countries around the world and offers two of the best known platform in the forex industry – MetaTrader4 and MetaTarder5. The broker is licensed and authorized across the European Union, the UK and South Africa and services international clients through its subsidiaries licensed in Mauritius and Kenya, where traders are allowed to use leverage as high as 1:2000.

LicensesEU/ Cyprus (CySEC); UK (FCA); South Africa (FSCA); Mauritius (FSC); Kenya (CMA)
Minimum deposit10 USD
Trading platformsMetaTrader4 and MetaTarder5
Maximum leverage1:2000 for traders outside EU and the UK; otherwise up to 1:30
SpreadsStarting from 0 pips, fixed with a trading commission ranging between 0.4 USD and 2 USD per lot traded, based on the trading volume

HFM

Previously known as HotForex, HFM is by far one of the best known brands in the forex industry as well. The broker offers both MetaTrader4 and MetaTrader5 along with a proprietary copy trading platform called HFcopy plus a comprehensive selection of well over 1000 CFDs. Through its subsidiaries HFM is licensed and authorized in the EU, the UK, the United Arab Emirates, South Africa and Kenya. HFM is founded back in 2010 and holds multiple international awards.

LicensesEU/ Cyprus (CySEC); UK (FCA); South Africa (FSCA); UAE (DFSA); Kenya (CMA)
Minimum deposit100 USD; 5 USD or 70 ZAR in South Africa
Trading platformsMetaTrader4 and MetaTrader5
Maximum leverageUp to 1:1000 for traders outside the EU and the UK; otherwise up to 1:30
SpreadsFrom 1 pip with a standard account

FP Markets

FP Markets is a state- of- the- art broker founded in Australian some 20 years ago, which holds multiple industry awards for its outstanding trading services. The broker offers both MetaTrader4 and MetaTrader5 as well as a proprietary trading platform – Iress. The trading costs at FP Markets are fairly low, which makes the broker an excellent choice for beginner and experienced traders alike. FP Markets is licensed in the European Union,  Australia and South Africa.

LicensesAustralia (ASIC); South Africa (FSCA); EU/ Cyprus (CySEC)
Minimum deposit100 USD
Trading platformsMetaTrader4, MetaTrader5, Irres
Maximum leverageUp to 1:30; 1:500 for clients outside Australia and the EU
SpreadsStarting from 1 pip with a standard account

OctaFX

OctaFX is an acclaimed global broker providing online trading services worldwide since 2011. It offers commission- free access to financial markets as well as swap- free trade. Swaps (fees traders pay for leaving their positions open overnight) are charged every day and tend to accumulate, making trading less profitable. OctaFX on the other hand lifted this financial burned for its clients a couple of months ago. In addition OctaFX offers an outstanding copy trading service and has won more than 50 awards since its foundation, including the 2021 ‘Best ECN Broker’ award from World Finance. The broker is regulated in the European Union.

LicensesEU/ Cyprus (CySEC)
Minimum deposit100 USD
Trading platformsMetaTrader4 and MetaTrader5
Maximum leverageUp to 1:30 for clients in the EU; Up to 1:500 for international clients
SpreadsStarting from 0.4 pips with a standard account

XM

XM hardly needs introduction, being probably the best known brand in the forex industry. Launched back in 2009 XM services millions of traders in some 190 countries around the world and has been awarded with multiple industry accolades, including the Ultimate Fintech Best Trading Experience recognition. XM is regulated in the European Union, Australia, the UK, Belize and Dubai, allows leverage as high as 1:1000 for its international clients, and offers both MetaTrader4 and MetaTrader5. In addition XM also offers an outstanding selection of high quality educational content and market research.

LicensesEU/ Cyprus (CySEC); Australia (ASIC); UK (FCA); Belize (FSC) and Dubai (DFSA)
Minimum deposit5 USD
Trading platformsMetaTrader4, MetaTrader5
Maximum leverage1:1000 for traders outside the EU, the UK and Australia; otherwise up to 1:30
SpreadsStarting from 1 pip with a standard account

FBS

FBS is an acclaimed international broker, awarded as the ‘Best Customer Service Broker Global’ for 2022 by the World Business Outlook magazine in Singapore for its high standards and professionalism in providing clients with the best products and services possible. And that is just the latest of well over 70 international awards which FBS has been bestowed with since 2009 – the year when it was founded. FBS is servicing well over 23 million clients all over the world and is authorized and regulated in the European Union through its Cyprus Securities and Exchange Commission (CySEC) license as well as in Australia, where it holds a license by the Australian Securities and Investments Commission (ASIC). Through its subsidiaries the broker is licensed in South Africa and Belize as well. FBS offers the industry standard MetaTrader4 and MetaTrader5 platforms as well as the proprietary FBS Trader – a state- of- the- art trading app. FBS is the official trading partner of FC Barcelona and the official Principal Partner of Leicester City Football Club.

LicensesEU/ Cyprus (CySEC); Australia (ASIC); South Africa (FSCA) and Belize (IFSC)
Minimum deposit1 USD
Trading platformsMetaTrader4, MetaTrader5 and FBS Trader
Maximum leverageUp to 1:3000 for brokers outside the EU and Australia; otherwise up to 1:30
SpreadsFrom 0,5 pips with a standard account

Trading 212

Trading 212 is a trusted broker, headquartered in London and licensed both in the UK and the European Union. Back in 2018 Trading 212 introduced the first zero commission share trading platform in the U.K., where one can purchase stocks and ETFs, listed on the world’s leading exchanges in the U.S., the UK and Germany. For the time being 212 offers access to well over 1500 shares. Trading 212 also supports a proprietary, user- friendly web based trading platform and offers optimal trading conditions.

LicensesUK (FCA), EU/ Bulgaria (FSC)
Minimum deposit10 USD
Trading platformsTrading 212 web based platform
Maximum leverageUp to 1:30; up to 1:300 for professional clients
SpreadsStarting from 0.9 pips pips with a standard account

eToro

eToro supports probably the best known copy trading service in the forex industry, where you can follow the trades of experienced traders and profit whenever they do in exchange of a small commission. And just like most brokers in this list eToro is authorized to service clients in the European Union, the UK and Australia. eToro’s proprietary, web based platform however, does not allow traders to run automatic trading sessions – something which is quite easily done with a MetaTrader4 or a MetaTrader5.

LicensesUK (FCA), Australia (ASIC), EU/ Cyprus (CySEC)
Minimum deposit10 USD
Trading platformseToro web trader
Maximum leverageUp to 1:30
SpreadsStarting from 1 pip with a standard account

FxPro

FxPro supports the three most popular platforms in the forex industry – MetaTrader4, MetaTrader5 and cTrader, along with its own proprietary FxPro Edge app. The broker is regulated both by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) – a license which gives it the right to service the broader EU market as a whole. FxPro is licensed in South Africa and the Bahamas as well and services well over 1.8 million clients in some 173 countries around the world.

LicensesUK (FCA); EU/ Cyprus (CySec); South Africa (FSCA); Bahamas (SCB)
Minimum deposit10 USD
Trading platformsMetaTrader4, MetaTrader5, cTrader, FxPro Edge
Maximum leverageUp to 1:30; up to 1:200 for clients in South Africa
SpreadsStarting from 1,5 pips with a standard account

Tickmill

Tickmill is a London based broker licensed both by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), as well as the Financial Services Authority (FSA) in the Seychelles. The broker supports the industry standard MetaTrader4 and offers highly competitive spreads especially with its Pro and VIP accounts.

LicensesUK (FCA), EU/ Cyprus (CySEC), Seychelles (FSA)
Minimum deposit100 USD
Trading platformsMetaTrader4
Maximum leverageUp to 1:30: up to 1:500 for all traders outside the UK and the EU
SpreadsStarting from 0,5 pip with a standard account

Top Forex Brokers

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