14 Best Regulated Forex Brokers for 2024

FxPro is a household name in the trading industry. The company was founded in 2006 and has obtained licenses from some of the most trusted regulators.

The company capital exceeds a hundred million euros with over 600 million executed orders. FxPro’s average execution speed is less than 13 milliseconds – one of the fastest in the industry. What made a strong impression on me is that FxPro is able to execute up to 7000 orders per second, which is why I consider the broker your best option if you value fast and precise trading. In my estimation, FxPro is ideal for intraday trading and scalping.

FxPro Entities

• FxPro UK Ltd, regulated by FCA UK, Tier-1, License Number – 509956, Max. Leverage – 1:30
• FxPro Financial Services Ltd, regulated by CySEC Cyprus, Tier-1, License number – 078/07, Max. Leverage – 1:30
• FxPro Financial Services Ltd, regulated by FSCA, South Africa, Tier-2, License Number – 45052, Max. Leverage – 1:400
• FxPro Global Markets Ltd, regulated by SCB Bahamas, Tier-3, License Number – SIA-F184, Max. Leverage – 1:200

I assessed the transparency of FxPro’s website to be quite high. I did not find any vague or misleading language in the legal documents. I also appreciated that FxPro adheres to the most rigid safety requirements, such as having a ‘best execution policy’.

I evaluated FxPro’s fees and found them, on average, very competitive. If you are to trade 1 lot of EURUSD on the seamless cTrader platform, it will cost you around $8, which is way below the industry average.

FxPro affords a broad range of trading platforms – MetaTrader 4&5, its proprietary FxPro Edge, and cTrader. I prefer the latter two because scaling price action up and down is much easier, and they afford greater freedom.

Exness is a Cyprus-based CFD broker that was founded in 2008. It is regulated in 8 jurisdictions globally and maintains excellent execution standards. I was impressed by its average execution speed of under 25 milliseconds for 80% of trades. And this quality is available against a very low minimum deposit requirement of $200, making it accessible to most rookies.

Exness Entities

• Exness (UK) Ltd, regulated by FCA UK, Tier-1, License Number – 730729, Max. Leverage – 1:30
• Exness (Cy) Ltd, regulated by CySEC Cyprus, Tier-1, License Number – 178/12, Max. Leverage – 1:30
• Exness ZA (PTY) Ltd, regulated by FSCA South Africa, Tier-2, License Number – 51024, Max. Leverage – 1:400
• Exness (SC) Ltd, regulated by FSA Seychelles, Tier-3, License Number – SD025, Max. Leverage – 1:500
• Exness B.V., regulated by CBC Curacao and Sint Maarten, Tier-3, License Number – 0003LSI, Max. Leverage – 1:500
• Exness (VG) Ltd, regulated by FSC British Virgin Islands, Tier-3, License Number – SIBA/L/20/1133, Max. Leverage – 1:500
• Exness (MU) Ltd, regulated by FSC Mauritius, Tier-3, License Number – 176967, Max. Leverage – 1:500
• Tadenes Limited, regulated by CMA Kenya, Tier-3, License Number – 162, Max. Leverage – 1:500

In my experience, beginner traders need the most reliability, sophisticated services, and enough resources to accommodate their learning curve, and Exness delivers on both. It incorporates the renowned MetaTrader 4&5 platforms, which are quite easy to use. It also has its own Exness Terminal, which I found superior. The proprietary platform supports over a hundred technical indicators and drawing tools and has an extensive range of timeframes and chart types. It thus affords a penetrating overview of price action behavior.

Exness offers commission-free trading and floating spreads from 0.3 pips, which is quite low. And newbies can certainly benefit from such low prices and superior execution technology. Additionally, I assessed Exness’ educational content and found it very detailed, covering diverse topics: from the basics of technical analysis to the intricacies of risk management and trading psychology.

BlackBull Markets is a forex and CFD broker founded in 2014 and based in New Zealand, with offices in the UK and Seychelles. By being licensed and authorized by the Financial Markets Authority (FMA) of New Zealand, I assessed that BlackBull is indeed a very safe and trustworthy broker.

BlackBull Markets Entities

• Black Bull Group Limited, regulated by FMA New Zealand, Tier-1, License Number – FSP403326, Max. Leverage – 1:300
• BBG Limited, regulated by FSA Seychelles, Tier-3, License Number – SD045, Max. Leverage – 1:500

BlackBull stands out for its extensive range of trading platforms and tools. Traders have options like the well-known MetaTrader 4 & 5, cTrader, Zulu Trade, and the user-friendly TradingView, which is my preferred choice for its professional design and in-depth charting. BlackBull also offers unique proprietary platforms for copy and share trading. Additionally, its impressive selection of over 26,000 trading instruments sets it apart from competitors.

The broker also deserves praise for its array of trading tools. Algo traders, in particular, will find value in BlackBull’s FIX API and VPS services, which significantly improve trading execution speed and accuracy. Moreover, the integration of AutoChartist and Myfxbook enriches the trading experience with top-notch market analysis and sentiment data.

I tested BlackBull’s ECN account type, which features floating spreads from 0.1 pips and a $6 round-turn commission per traded lot. This combination falls slightly below the industry average. The ECN account type has a minimum deposit requirement of $2000.

IG is undoubtedly one of the biggest and safest brokers in the financial derivatives industry. It holds licenses issued by some of the best and most reputable financial regulators globally. Founded in 1974 and headquartered in the United Kingdom, IG stands out with an impressive amount of trading instruments, competitive fees, supporting tools, and a seamless trading platform.

IG Entities

• IG Markets Limited, regulated by FCA UK, Tier-1, License Number – 195355, Max. Leverage – 1:30
• IG Europe GmbH, regulated by BaFin Germany, Tier-1, License Number – 10148759, Max. Leverage – 1:30
• IG Australia Pty Limited, regulated by ASIC Australia, Tier-1, License Number – 3515106 Max. Leverage – 1:30
• IG Australia Pty Limited, also regulated by FMA New Zealand, Tier-1, License Number – FSP684191, Max. Leverage – 1:30
• IG Bank S.A., regulated by FINMA Switzerland, Tier-1, Max. Leverage – 1:200
• IG Asia PTE Ltd, regulated by MAS Singapore, Tier-1, Max. Leverage – 1:20
• IG Securities Ltd, regulated by JFSA Japan, Tier-1, License Number – 9010401051715, Max. Leverage – 1:20
• IG US LLC, regulated by NFA US, Tier-1, Max. Leverage – 1:30
• IG Markets South Africa Ltd, regulated by FSCA South Africa, Tier-2, License number 41393, Max. Leverage – 1:400
• IG Limited, regulated by DFSA Dubai, Tier 2, License Number – F001780, Max. Leverage – 1:30

IG’s web-based platform is extremely versatile and caters to the needs of all kinds of traders, from first-time rookies to seasoned chart artists. It makes analyzing price action behavior extremely easy and precise. I also found the platform highly customizable, making the execution of trading orders very easy. The platform features over 140 technical indicators and drawing tools, as well as a decent amount of trading orders and other chart configurations.

What stood out the most to me is that the platform supports ultra-fast order execution, which is especially suitable for high-frequency traders like scalpers. Its average execution speed reaches 14 milliseconds, making IG one of the best brokers in the world with respect to speed.

I also tested IG’s trading fees. Commission-free trading applies to instruments from most asset classes, except for share CFDs. The broker also charges floating spreads from 0.6 pips. I thus assessed its trading fees, as a whole, to fall below the industry average.

Swissquote holds an impressive 7 licenses from top-tier regulators. Additionally, the bank, which was founded in 1996, is listed on the Swiss stock exchange, underscoring its reliability. I opened a Forex & CFDs account with the investment bank offering over 450 trading and investing products and was impressed by the overall transparency of the website.

Swissquote Entities

• Swissquote Bank Ltd, regulated by FINMA Switzerland, Tier-1, License Number – Not Specified, Max. Leverage – 1:100
• Swissquote Ltd, FCA UK, Tier-1, License Number – 562170, Max. Leverage – 1:30
• Swissquote Asia Ltd, regulated by SFC Hong Kong, Tier-1, License Number – AZV127, Max. Leverage – 1:20
• Swissquote Financial Services (Malta) Ltd, regulated by MFSA Malta, Tier-1, License Number – C57936, Max. Leverage – 1:30
• Swissquote Ptd. Ltd, regulated by MAS Singapore, Tier–1, License Number – Not Specified, Max. Leverage – 1:20
• Swissquote Bank Europe Ltd, regulated by CSSF Luxembourg, Tier-1, License Number – B00000324, Max. Leverage – 1:30
• Swissquote Capital Markets Ltd, regulated by CySEC Cyprus, Tier-1, License Number – 422/22, Max. Leverage – 1:30
• Swissquote MEA Ltd, regulated by DFSA Dubai, Tier-2, License Number – FD001438, Max. Leverage – 1:30

What makes Swissquote the best choice for professional traders and sets it apart from our other picks is its lightning-fast execution speed of 9 milliseconds, coupled with a 98% fill ratio and only 18% of all trades resulting in negative slippage. If you are a scalper or intraday trader looking for precision, I can guarantee Swissquote will deliver the Swiss quality you are looking for.

I tested Swissquote’s Advanced Trader platform and found it to combine the efficiency of a professional-grade platform with the easy-to-navigate layout of more conventional platforms. However, I ascertained that Swissquote’s fees exceed the industry average. With floating spreads starting from 1.1 pips on its Prime account, and a minimum deposit requirement of $50,000, Swissquote’s superior services are better suited for traders with bigger account balances.

Errante is a CFD broker that was founded in 2019. A relative newcomer, Errante is quickly establishing itself as a reliable partner to beginners interested in MetaTrader. The broker maintains good execution standards, publishes periodic execution quality statements, and has a ‘best execution policy’. but does not state its average execution speed.

Errante Entities

• Notely Trading Ltd, regulated by CySEC Cyprus, Tier-1, License Number – 383/20, Max. Leverage – 1:30
• Errante Securities (Seychelles) Ltd, regulated by FSA Seychelles, Tier-3, License Number – SD038, Max. Leverage – 1:500

I opened a Standard account with the broker and estimated its fees to be, generally, above average. However, the values of a hypothetical 1 lot EUR/USD trade on its Premium and VIP accounts – at $10 and $8, respectively – are very competitive.

Errante gives access to 50+ technical indicators and drawing tools on MetaTrader 4. From my experience, most beginners like to learn technical analysis on MT4 because of its simplistic, albeit rugged, design and easy learning curve. On the other hand, I find it difficult to examine price action behavior on MetaTrader because scaling it up and down is not particularly easy.

Founded in 2011, FXTM is a Cyprus-based derivatives broker with headquarters in Limassol. It offers over 1200 tradable instruments at affordable prices. Even novice traders can take advantage of this diverse offering via FXTM’s enhanced copy trading offering.

The broker possesses one Tier 1 license and ensures segregated client funds and negative balance protection.

FXTM Entities

• Exinity UK Ltd, regulated by FCA UK, Tier-1, License Number – 777911, Max. Leverage – 1:30
• ForexTime Ltd, regulated by FSCA, South Africa, Tier-2, License Number – 46614, Max. Leverage – 1:400
• Exinity Ltd, regulated by FSC Mauritius, Tier-3, License Number – C113012295, Max. Leverage – 1:2000

I found the broker’s copy trading offering very accessible since beginners can copy the strategies of other traders with as little as $100 in their account balance. FXTM’s copy trading feature offers signal providers and signal followers a chance to interact with each other and generate revenue/profits from each other.

I assessed the broker’s prices by opening an Advantage account. It features raw spreads from 0.0 pips and a $5 round-turn commission per traded lot (100,000 units). This combination surpasses the industry average and offers day traders a competitive edge. The Advantage account is available against a minimum deposit of $500.

FXTM incorporates MetaTrader 4 and MetaTrader 5 – two of the most popular retail platforms in the industry. They accommodate easy order execution and automated trading via their Expert Advisors (EAs) feature. MetaTrader is also a great choice for copy trading since it is used comprehensively by traders worldwide.

IronFX was founded in 2010 and provides a range of trading solutions to high-frequency crypto traders. It has a couple of top-tier licenses underpinning its trustworthiness. I also assessed its execution standards to be acceptable. The broker complies with best execution guidelines and publishes regular execution performance reports.

IronFX Entities

• Notesco Financial Services Ltd, regulated by CySEC Cyprus, Tier-1, License Number – 125/10, Max. Leverage – 1:30
• Notesco UK Limited, regulated by FCA UK, Tier-1, License Number – 585561, Max. Leverage – 1:30
• Notesco (SA) Pty Ltd, regulated by FSCA South Africa, Tier-2, License Number – 45276, Max. Leverage – 1:400
• Notesco Limited, unregulated, registered in Bermuda, Max. Leverage – 1:1000

IronFX offers more than 300 instruments, 32 of which are cryptocurrencies, that can be traded on the broker’s WebTrader platform as well as on the renowned MetaTrader with over 50 technical indicators and drawing tools and supports automatic trading via its Expert Advisors (EAs) feature.

With regards to IronFX’s trading fees, I checked the parameters of its Standard account and discovered that it supports commission-free trading and floating spreads from 1.8 pips. This combination is slightly above the industry average.

Pepperstone, established in 2010 and headquartered in Australia, is regulated across seven jurisdictions, including four Tier-1 regulatory bodies, enabling it to cater to traders worldwide.

The broker complies with critical safety standards, operates with a commitment to ‘best execution’ practices, and maintains a stringent client categorization policy. Upon reviewing its legal documents, I found them to be transparent and free from significant discrepancies.

Pepperstone Entities

• Pepperstone Limited, regulated by FCA UK, Tier-1, License Number – 684312, Max. Leverage – 1:30
• Pepperstone GmbH, regulated by BaFin Germany, Tier-1, License Number – 151148, Max. Leverage – 1:30
• Pepperstone EU Limited, regulated by CySEC Cyprus, Tier-1, License Number – 388/20, Max. Leverage – 1:30.
• Pepperstone Group Limited, regulated by ASIC Australia, Tier-1, License Number – 414530, Max. Leverage – 1:30
• Pepperstone Financial Services (DIFC) Limited, regulated by DFSA Dubai, Tier 2, License Number – F004356, Max. Leverage – 1:30
• Pepperstone Markets Kenya Limited, regulated by CMA Kenya, Tier-3, Lecense Number – 128, Max. Leverage – 1:400
• Pepperstone Markets Limited, regulated by SCB Bahamas, Tier-3, License Number – SIA-F217, Max. Leverage – 1:200

I was most impressed by the wide variety of platforms incorporated by Pepperstone. The broker offers widely popular MetaTrader 4 and 5 that afford easy order execution and automated trading via their Expert Advisors (EAs) feature.

The broker also incorporates the seamless TradingView and cTrader platforms featuring user-friendly designs and more advanced charting capabilities. Traders can use these platforms to gain more penetrating insights into price action behavior and conduct more probing technical analyses.

I tested Pepperstone’s fees by opening a ‘Razor’ account, which features a $3.5 single-turn commission (only for FX pairs) per traded lot (100,000 units) and raw spreads from 0.0 pips. I assessed that this combination falls marginally lower the industry average and is geared towards high-frequency trading.

FP Markets was founded in 2005 and is headquartered in Australia. It has a couple of top-tier licenses and maintains excellent execution standards. The broker has a ‘best execution policy’, publishes regular execution quality statements, and achieves an average execution speed of under 40 milliseconds.

FP Markets Entities

• First Prudential Markets Ltd, regulated by CySEC Cyprus, Tier-1, License Number – 371/18, Max. Leverage – 1:30
• First Prudential Markets PTY Ltd, regulated by ASIC, Australia, Tier-1, License Number – 286354, Max. Leverage – 1:30
• FP Markets LLC, unregulated, registered in St. Vincent & the Grenadines, Max. Leverage – 1:500

FP Markets offers more than 800 CFDs on instruments from different classes, both high-yield/high-risk assets, and lower-risk securities. We deem FP Markets best for instruments due to its access to deep liquidity, very low minimum deposit requirement, and incorporation of the iRESS platform.

I tested the platform, which offers access to over 10,000 global shares and has over 100 technical indicators and drawing tools, and found it ideal for stock traders. They can also benefit from FP Markets’ competitive pricing. The broker charges a $6 round-turn commission per lot on its Raw account and affords spreads starting from 0.0 pips. With an estimated value of trade (1 lot EURUSD) at $7, FP Markets’ trading costs are below the industry average.

IC Markets was founded in 2007, holds a couple of top-tier licenses, and offers a broad range of tradable instruments from different markets including FX pairs, commodities, CFD shares, indices, and more.

IC Markets Entities

• IC Markets (EU) Ltd, regulated by CySEC Cyprus, Tier-1, License Number – 362/18, Max. Leverage – 1:30
• International Capital Markets Pty Ltd, regulated by ASIC Australia, Tier-1, License Number – 335692, Max. Leverage – 1:30
• Raw Trading Ltd, regulated by FSA Seychelles, Tier-3, License Number – SD018, Max. Leverage – 1:500

IC Markets offers commission-free trading and floating spreads from 0.6 pips on its Standard account and raw spreads from 0.0 pips plus a $6 round-turn commission per lot on its Raw account type. I also assessed that a typical value of trade on both account types – $7 and $7.5, respectively – stands below the industry average. Hence, I concluded that IC Markets has one of the most competitive pricing models in the industry.

I clocked IC Markets’ execution speed in under 66 milliseconds, which is better than the industry average. The broker also publishes regular execution quality statements and has a ‘best execution policy’. I thus determined IC Markets’ execution standards to be suitable for both high-frequency and high-volume trading.

Traders can choose between the popular MetaTrader 4&5 and cTrader platforms. The latter has lower commissions, a more intuitive design, and is generally more feature-rich. What I also like more about cTrader is that it gives me greater flexibility to scale price action up and down.

AvaTrade is a multi-regulated broker with top-tier licensing and a diverse offering of instruments from different asset classes. The broker offers CFDs, futures, and options, allowing you to hedge against adverse volatility and exploit different trading opportunities.

AvaTrade maintains good execution standards – the broker has all the necessary documentation but does not state its average execution speed. All of these factors make AvaTrade suitable for traders wanting to practice tight risk management.

AvaTrade Entities

• Ava Capital Markets Australia Pty Ltd, regulated by ASIC Australia, Tier-1, License Number – 406684, Max. Leverage – 1:30
• DT Direct Investment Hub Ltd, regulated by CySEC Cyprus, Tier-1, License Number – 347/17, Max. Leverage – 1:30
• Ava Trade Japan K.K., regulated by FSA Japan, Tier-1, License Number – 1574, Max. Leverage – 1:25
• Ava Trade EU Ltd, regulated by CBI Ireland, Tier-1, License Number – C53877, Max. Leverage – 1:30
• Ava Capital Markets Pty Ltd, regulated by FSCA South Africa, Tier-2, License Number – 45984, Max. Leverage – 1:400
• Ava Trade Middle East Ltd, regulated by FSRA, Abu Dhabi, Tier-2, License Number – 190018, Max. Leverage – 1:400
• ATrade Ltd, regulated by ISA Israel, Tier-2, License Number – 514666577, Max. Leverage – 1:100
• Ava Trade Markets Ltd, regulated by FSC British Virgin Islands, Tier-3, License Number – SIBAL/13/1049, Max. Leverage – 1:400

AvaTrade’s multiple trading apps allow you to stay on top of your trading on the go. I downloaded AvaOptions and checked its usability. I found it quite easy to navigate and to learn.

I also checked how much it will cost you to execute a 1 lot trade on the EUR/USD and measured the value of such a hypothetical trade at $9. This is below the industry average. AvaTrade’s competitive pricing and the ability to implement tight risk management on the go make it an excellent choice for risk-averse traders.

tastyfx is new brand name of IG US that was launched in 2019 to bring margin-based foreign exchange trading to US citizens.

tastyfx Entities

• tastyfx LLC is a registered RFED with the Commodity Futures Trading Commission (Tier-1 regulator) and a member of the National Futures Association, License Number – NFA ID 0509630, Max. Leverage – 1:50.

In 2019, the industry leader expanded its operations in the US. The tastyfx LLC entity is licensed and regulated by top-tier authorities in the country (CFTC and NFA). I checked its legal documents and assessed that it adheres to the highest standards of transparency. tastyfx may cover any negative balance incurred by you, and it ensures ‘best execution.’

I also discovered that all trading fees, except for the rollover, are built into the spread. tastyfx’s floating spread starts from 0.8 pips and varies across instruments from different asset classes. Generally, I evaluated its fees to be below the industry average.

Additionally, I was impressed by tastyfx’s average execution speed of 15 milliseconds. This performance results from the broker’s DMA (Direct Market Access) execution model and access to deep liquidity.

tastyfx’s proprietary platform is highly customizable and suitable for high-frequency trading. It features multiple analytical tools and charting solutions. It was quite easy to scale up and down price action.

A giant of the CFD industry, Plus500 has recently expanded into the United States to offer futures trading via its state-of-the-art proprietary web platform and mobile app. Since launching in 2008, Plus500 is now available in over 50 countries and has 400,000 active clients. US clients can access futures contracts on forex, indices, commodities, bonds, and cryptocurrencies.

Plus500 (US) Entities

• Cunningham Commodities, LLC d/b/a Plus500, is a Futures Commission Merchant registered with the US Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA ID number 0001398).

Authorized by two top-tier regulators and as a large publicly traded company with high transparency, Plus500 US earned a strong trust ranking from FXEmpire. I confirmed that client funds are held in an account segregated from the operating funds of the broker.

Plus500 US offers 13 forex futures contracts ranging from major currencies like the British Pound and Japanese Yen, to the Mexican Peso, an emerging market currency. I noted that mini and micro forex futures contracts are available in addition to standard-sized contracts. This gives traders greater flexibility and allows beginners with relatively small account balances to trade.

My hands-on tests showed that Plus500 US offers highly competitive trading commissions and minimal account-related fees. I experienced spreads as low as 0.5 pips in the Euro FX futures contract. The EuroFX commission per contract is $‪2.51 (including exchange and NFA fees)‬‬.

Plus500 US makes it simple for new traders to get started in forex futures trading with a low minimum deposit, a beginner-friendly platform, and helpful educational resources. During my assessment, the live chat support was among the best I have encountered. If you are a US trader looking to test out forex futures trading, Plus500 US might be a good fit.