Biggest Forex Brokers in the world 2024
Forex, or foreign exchange, is the largest financial market in the world with an average daily trading volume of over $5 trillion. With such a vast and constantly growing market, it’s no surprise that there are countless Forex brokers out there. However, not all brokers are created equal. In this article, we will be taking a closer look at the top 10 biggest Forex brokers in the world, based on a combination of factors including client volume, trading volume, and regulatory reputation.
Top Best Forex Brokers in the world 2024
✅#1 Exness Open An Account or Visit site
✅#2 JustMarkets Open An Account or Visit site
✅#3 XM Open An Account or Visit site
✅#4 Avatrade Open An Account or Visit site
✅#5 XTB Open An Account or Visit site
✅#6 OctaFx Open An Account Here
✅#7 HF Market Open An Account or Visit site
✅#8 PepperStone Visit site here
✅#9 Deriv Visit site here
✅#10 FPMarket Open An Account or Visit site
FXTM (ForexTime)
FXTM, also known as ForexTime, is a global Forex broker offering a comprehensive range of trading products and services. Founded in 2011, FXTM has quickly become one of the leading brokers in the industry, serving clients in over 180 countries. Their user-friendly platform and competitive pricing have made them a popular choice among traders of all levels.
Features:
- Multiple account types to choose from, including Standard, Cent, ECN, and ECN Zero
- Competitive spreads starting from 0.1 pips
- Flexible leverage options up to 1:1000
- Various payment methods available, including bank transfer, credit/debit cards, and e-wallets
- Educational resources and webinars for beginners
- Advanced trading tools for experienced traders, such as Autochartist and Trading Central
Pros:
- User-friendly platform with a variety of features
- Competitive pricing
- Wide range of account types to suit different trading styles
- Excellent customer support available 24/7
- Regulated by top-tier authorities, including CySEC and FCA
Cons:
- Limited number of trading instruments compared to some other brokers
- Withdrawal fees for certain payment methods
- Some countries are not supported for trading, such as the United States and Japan
Our Opinion:
FXTM is a reliable and well-regarded broker in the Forex industry. Their user-friendly platform, competitive pricing, and regulated status make them a top choice for traders of all levels.
Read more: Top 10 Forex Brokers in the World
XM
XM is another popular broker in the Forex market, known for its competitive spreads, multiple account types, and educational resources. With over 3 million clients in 196 countries, XM has established itself as a global leader in the industry since its founding in 2009.
Features:
- Multiple account types, including Micro, Standard, and Zero
- Tight spreads starting from 0 pips
- Leverage options up to 1:888
- Wide range of trading instruments, including Forex, CFDs, and commodities
- Educational resources and webinars for beginners
- Advanced trading tools, such as VPS hosting and Autochartist, for experienced traders
Pros:
- Competitive pricing and tight spreads
- Multiple account types to suit different trading styles
- User-friendly and customizable platform
- Extensive educational resources for beginners
- Regulated by top-tier authorities, including CySEC and FCA
Cons:
- Limited payment methods compared to some other brokers
- Withdrawal fees for certain payment methods
- Inactivity fee for accounts with no trading activity for 90 days or more
Our Opinion:
XM is a well-rounded broker that caters to both beginner and experienced traders. Their competitive pricing and tight spreads make them an attractive option, and their extensive educational resources are a great asset for those looking to improve their trading skills.
Exness
Exness is known for its lightning-fast execution speeds, low fees, and a wide variety of trading instruments. Founded in 2008, they currently serve clients in over 180 countries and have become a popular choice for scalpers and high-frequency traders.
Features:
- Multiple account types, including Standard, Pro, and Raw Spread
- Tight spreads starting from 0 pips
- Leverage up to 1:2000
- Wide range of trading instruments, including Forex, CFDs, and cryptocurrencies
- Fast execution speeds and low fees
- Multi-lingual customer support available 24/7
Pros:
- Lightning-fast execution speeds with low fees
- Competitive pricing and tight spreads
- Multiple account types to suit different trading styles
- Regulated by top-tier authorities, including CySEC and FCA
- Wide range of trading instruments available
Cons:
- Limited educational resources compared to some other brokers
- Not available for US clients
- Inactivity fee for accounts with no trading activity for 12 months or more
Our Opinion:
Exness is a reliable and reputable broker with a strong focus on fast execution speeds and low fees. Their wide range of trading instruments makes them a popular choice among traders looking for diversity in their portfolio.
FBS
FBS is a global Forex broker that offers a wide range of account types, competitive spreads, and a user-friendly trading platform. With over 15 million traders across 190 countries, they have become one of the largest brokers in the industry since their establishment in 2009.
Features:
- Multiple account types, including Cent, Standard, Zero Spread, and ECN
- Tight spreads starting from 0 pips
- Leverage options up to 1:3000
- Various payment methods available, including local bank transfer, e-wallets, and credit/debit cards
- Loyalty programs and bonuses for active traders
- Educational resources and webinars for beginners
Pros:
- User-friendly platform with a variety of features
- Competitive pricing and tight spreads
- Multiple account types to suit different trading styles
- Flexible leverage options
- Regulated by top-tier authorities, including CySEC and IFSC
Cons:
- Limited number of trading instruments compared to some other brokers
- Withdrawal fees for certain payment methods
- Inactivity fee for accounts with no trading activity for 180 days or more
Our Opinion:
FBS is a reputable broker with a wide range of account types and competitive pricing. Their user-friendly platform and educational resources make them a great choice for traders of all levels.
Tickmill
Tickmill is known for its exceptional customer support and competitive spreads. Established in 2014, they have quickly gained a reputation as one of the fastest-growing brokers in the industry, serving clients in over 215 countries.
Features:
- Multiple account types, including Classic, Pro, and VIP
- Tight spreads starting from 0 pips
- Leverage options up to 1:500
- Fast execution speeds with low latency
- Various payment methods available, including bank transfer, credit/debit cards, and e-wallets
- Educational resources and webinars for beginners
Pros:
- Excellent customer support available 24/7
- Competitive pricing and tight spreads
- Multiple account types to suit different trading styles
- Regulated by top-tier authorities, including FCA and CySEC
- Advanced trading tools, such as Autochartist and Myfxbook Autotrade, for experienced traders
Cons:
- Limited trading instruments compared to some other brokers
- Higher minimum deposit requirements for certain account types
- Inactivity fee for accounts with no trading activity for 6 months or more
Our Opinion:
Tickmill is a reliable and trustworthy broker that offers excellent customer support and competitive pricing. Their advanced trading tools are a great asset for experienced traders, while their educational resources cater to beginners as well.
IC Markets
IC Markets is an Australian-based broker that offers a raw spread account for those seeking the best possible pricing. Founded in 2007, they are known for their deep liquidity and advanced trading platforms.
Features:
- Multiple account types, including Raw Spread, Standard, and cTrader
- Tight spreads starting from 0 pips
- Leverage options up to 1:500
- Low commissions on Raw Spread accounts
- Advanced trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader
- Fast execution speeds with low latency
Pros:
- Deep liquidity with competitive pricing
- Low commissions on Raw Spread accounts
- Multiple account types to suit different trading styles
- Advanced trading platforms for experienced traders
- Regulated by top-tier authorities, including ASIC and CySEC
Cons:
- Limited educational resources compared to some other brokers
- Higher minimum deposit requirements for certain account types
- Inactivity fee for accounts with no trading activity for 12 months or more
Our Opinion:
IC Markets is a reputable and well-regulated broker that offers competitive pricing and advanced trading platforms. Their Raw Spread account is a great option for those looking for the best possible pricing.
Pepperstone
Pepperstone is a popular choice for experienced traders, offering access to institutional-grade liquidity, advanced trading platforms, and competitive pricing. Founded in 2010, they have become one of the largest Forex brokers in the world, serving clients in over 65 countries.
Features:
- Multiple account types, including Razor, Standard, and Swap-Free
- Tight spreads starting from 0 pips
- Leverage options up to 1:500
- Advanced trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader
- Access to institutional-grade liquidity
- Educational resources and webinars for beginners
Pros:
- Competitive pricing and tight spreads
- Multiple account types to suit different trading styles
- Advanced trading platforms for experienced traders
- Regulated by top-tier authorities, including FCA and ASIC
- Wide range of trading instruments available
Cons:
- Limited payment methods compared to some other brokers
- Higher minimum deposit requirements for certain account types
- Inactivity fee for accounts with no trading activity for 12 months or more
Our Opinion:
Pepperstone is a reputable and well-established broker that caters to experienced traders. Their access to institutional-grade liquidity and advanced trading platforms make them a popular choice among those looking for high-quality trading conditions.
AvaTrade
AvaTrade offers a wide range of trading instruments, including Forex, CFDs, and cryptocurrencies. Founded in 2006, they currently serve clients in over 150 countries and have won numerous awards for their services.
Features:
- Multiple account types, including Standard, Options, and Spread Betting
- Competitive spreads starting from 0.9 pips
- Leverage options up to 1:400
- Wide range of trading instruments, including Forex, CFDs, and cryptocurrencies
- Advanced trading platforms, including MetaTrader 4, MetaTrader 5, and AvaTradeGO
- Educational resources and webinars for beginners
Pros:
- Wide range of trading instruments available
- User-friendly and customizable trading platform
- Multiple account types to suit different trading styles
- Regulated by top-tier authorities, including Central Bank of Ireland and FSCA
- Excellent customer support available 24/7
Cons:
- Inactivity fee for accounts with no trading activity for 3 months or more
- Limited educational resources compared to some other brokers
- Withdrawal fees for certain payment methods
Our Opinion:
AvaTrade is a well-regarded broker that offers a diverse range of trading instruments and competitive pricing. Their user-friendly platform and excellent customer support make them a top choice for traders of all levels.
FAQs
1. What is a Forex broker?
A Forex broker is a financial institution or individual that acts as an intermediary between buyers and sellers in the foreign exchange market. They allow traders to access the market and facilitate the buying and selling of currencies.
2. How do I choose the right Forex broker?
Choosing the right Forex broker depends on your trading style, level of experience, and personal preferences. It’s important to consider factors such as regulation, trading conditions, customer support, and fees when making your decision.
3. Are all the brokers mentioned above regulated?
Yes, all of the brokers mentioned above are regulated by top-tier authorities, such as CySEC, FCA, and ASIC.
4. Can I trade with any of these brokers if I am based in the United States?
No, some of these brokers may not be available for clients based in the United States due to regulatory restrictions.
5. Do I need to have a large amount of money to start trading with these brokers?
No, most of these brokers offer different account types with varying minimum deposit requirements. You can start trading with as little as $10 with some brokers.
Conclusion
The Forex market is constantly evolving, and choosing the right broker is crucial for your trading success. The top 10 biggest Forex brokers mentioned in this article are reputable and well-regulated, offering competitive pricing, advanced trading platforms, and a wide range of trading instruments. Consider your trading needs and preferences when selecting a broker, and remember to always prioritize regulation and security. Happy trading!
