TradersAsset’s Top 20 Forex Brokers for 2019

There is no centralised governing body for the Forex market and a virtual broker does not need a license to operate. The rise in popularity of online brokers has meant that a number of localised regulatory bodies have formed in recent years. These organizations insist that their licensed brokers undergo some level of compliance to safeguard customer funds. They also offer traders with a watchdog in the rare case of misdemeanours or unjust operations by an unscrupulous broker.

These safeguards make regulated brokers a highly attractive proposition, however, there are many unregulated brokers who also provide a fantastic service, and are truly worth considering. We recommend that you research a broker before signing up with them. We test and review each of our recommended brokers thoroughly before presenting them to you, regardless of their regulatory status. Once they have been tested and approved, they are added to our lists of approved brokers. Each broker that is presented to you at TradersAsset is committed to providing a safe trading environment and a fantastic, seamless trading experience.

Top 20 Forex Brokers

No. Broker Deposit Bonus Leverage Review
1. US $50 100% 1000:1


2. $100 $10,000 400:1


3. $5 50% 888:1


4. $200 Various 400:1


5. $100 25% 500:1


6. $100 None 200:1


7. $100 20% 200:1


8. $250 50% 400:1


This is a brief guide for trading Forex by territory. Simply look up the country or continent you live in from those listed below, then follow the links to be presented with a range of Forex Brokers that we have verified and selected especially for you.

UK Regulated Forex Brokers

UKCurrency Traders from the United Kingdom have no restrictions placed upon where they may trade currencies online. The regulatory body for the UK is the Financial Conduct Authority (FCA).

Brokers that are licensed and regulated by the FCA are ideal for UK based customers, and offer additional reassurance of a painless trading experience. The UK is one of the main hubs for financial trading, therefore many brokers recognise the benefits of offering trading accounts in GBP. The brokers presented here offer GBP trading accounts, and a range of attractive banking options suitable for UK traders.

US Regulated Forex Brokers

USNot all Brokers will be able to accept you as a new customer. American traders will only be allowed to trade with brokers that have gained approval from the two main industry regulators in the US.

These are the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC). These regulators oversee and ensure that retail Forex Brokers accepting US traders are operating to the highest standards, and they only license a handful of companies. If you are an American trader looking for US Regulated Forex Brokers, please have a look at our recommended brokers.

Australian Regulated Forex Brokers

AustraliaAustralian traders have no restrictions on which brokers they may use and all Brokers recommended here have been approved for traders from Australia. Some are licensed and are regulated by the Australian Securities and Investments Commission (ASIC).

Trading with these regulated brokers will offer an additional level of safety and peace of mind but all our recommendations are suitable for you. The brokers presented here provide Australian traders with a number of banking options and facilitate hassle-free withdrawals upon request.

Canadian Regulated Forex Brokers

CanadaOnline trading is allowed and there are no strict restrictions enforced on the Forex markets by Canada.

However, their regulatory body, the Investment Industry Regulatory Organisation of Canada (IIROC), does have the power to oversees and enforce laws against brokers on behalf of Canadian traders.

Some brokers have IIROC approval to trade within the borders of Canada. These, and all other brokers recommended for Canadian traders can be found in our list of Canadian brokers.

European Regulated Forex Brokers

EUEuropean traders have the unique position of being in a market with hardly any restrictions to online Forex trading, and being one of the most regulated. Almost all brokers will allow EU traders and offer trading accounts in both EUR and GBP. Some larger brokers also offer the options to deposit in multiple EU currencies, and then trade in EUR, GBP or USD.

There is no single European regulatory body, however there are many local regulatory commissions and authorities that oversee Forex Brokers based in Europe.

These include CySEC (Cyprus) incorporating the MiFID initiative (EU), CONSOB (Italy), FCA (UK), BaFin (Germany), CNMV (Spain), AFM (Netherlands), FI (Sweden), ACP (France), FIN (Finland), PSZÁF (Hungary), the Central Bank of Ireland and KNF (Poland). You can find a selection of brokers recommended for European traders here.

Broker Checklist For Forex Traders

We recommend trading with brokers reviewed and approved by TradersAsset. We review and test all brokers we present to you and we are confident they will offer a fantastic trading experience. No matter which brokers you choose to trade with, here are some features to check before signing up.

  • Demo Account – Are new traders provided with a demo account to test the tools, platform and services of a broker? These accounts are usually credited with $50,000 to $100,000 in virtual money and provide new traders with the best opportunity to test and learn if a broker is suitable for them.
  • Bonuses and Incentives – What are the bonuses and signup incentives offered by brokers? Don’t forget to contact the support team for more information on their current promotions and signup incentives. All bonuses come with terms and conditions, and whilst offering additional trading capital, they do have trading volume requirements prior to withdrawal. Ensure you understand these to get the most from your trading experience.
  • Deposit Methods – Make sure that you are able to deposit using a free or low cost banking option. Check also that the broker will allow you to setup your trading account in your local currency. This will save you having to pay fees and commissions when exchanging currencies during deposits and withdrawals. Having many banking options is usually an indicator of a dependable broker.
  • Withdrawals – Check what a brokers’ withdrawal process, costs and durations are. Some brokers may only allow withdrawals via bank transfer, and these can take up to five days (an industry standard). Some will send your withdrawal back to the previously used deposit method and some online wallets can receive funds within 24hrs.
  • Support – Great customer support and online trading go hand-in-hand. A great broker usually has a great support team that provides an excellent service. This can be a highly beneficial feature for rookie traders who can use support services to help improve their understanding on trading. Experienced traders can benefit from a highly responsive support team to help make their trading experience hassle-free. Ensure that your broker is accessible through LiveChat, email and telephone to ensure a quick response when/if required.