Forex Brokers by Country

Here you can find forex brokers based on the international location. You can then view and review reputable forex broker that supports residents from your country.

In order to find the broker that suits your needs, choose the country of your residency using the links below. All forex brokers regulated internationally are sorted by their overall score and reputation.

This article will guide you to find the forex broker list by country, criteria to choose them, broker types and many more. Besides, you will find the top forex brokers list from different countries.

There are many international forex regulatory groups. Popular regulatory bodies include the Financial Conduct Authority (FCA) in the United Kingdom (UK), the National Futures Association (NFA) in the United States, the Investment Industry Regulatory Organization of Canada (IIROC) in Canada, the Australian Securities & Investment Commission (ASIC) in Australia, the Securities Commission of Malaysia (SCM) in Malaysia, the Monetary Authority of Singapore (MAS) in Singapore, and dozens of others.

How to Find the Best Forex Brokers in the World 

When you choose to trade forex, you will encounter hundreds of online brokers from all over the world. How can you choose the right forex broker to meet your needs? What is the ultimate way to select the best forex trading platform in the world?

While novice traders seek for simple platforms and low deposit requirements, there are advanced traders who search for certain trading conditions and features. Whether a complete newbie and experienced trader, you can use our section  forex broker reviews to help you find what you need. Let’s go over some of the most searched for features while choosing a broker.

Keep in mind that not all brokerage offer legit services and it is important to distinguish between good and scams when seeking reputable forex broker in your country or offshore.

Regulations and Security

When you start trading forex, you will obviously use real money when you deposit or withdraw from your broker. The top priority here is the safety of your funds. Your broker must provide valid and secure way for your capital.

So in order to ensure your balance safety, first you check the regulations of the broker. There are multiple regulatory bodies available depending on the location. So, you will need to verify according to the best countries for forex trading. 

Another important factor to check is whether your broker offers negative balance protection and segregated accounts for the traders. These to options will ensure the security of your money. Some top forex brokers list may offer more security through insurance such as ICF in the UK and Europe. Nevertheless, you should check the locally regulated broker for maximum safety.

The Best Forex Brokers Provide Security

It may sounds obvious, but the best forex brokers in the world must provide top notch security. You do not want to trade with a broker whose reputation isn’t clean and who just claim to be legit brokerage.

There is a way to check whether broker tells the truth or is fake. In order to check the credibility of the broker, you can go to the regulators’ website and seek the broker in question to verify that the broker is indeed regulated.

Top regulatory bodies in the world are:

  • USA- National Futures Association (NFA) & Commodity Futures Trading Commission (CFTC)

Both NFA and CFTC work as the regulatory body in the USA. It was established in 1982. However, both of these regulations are strict, and that is why you will not get to see many brokers in the USA.

  • Canada-Investment Industry Regulatory Organization of Canada (IIROC)

Although Canadian retail forex is not very popular, they have a regulatory body that was established in 2008. IIROC mainly oversees the trading activities and the investment dealers.

  • United Kingdom- Financial Conduct Authority (FCA)

FCA regulates more than 60,000 financial services and companies in the UK and governs the forex brokers as a part of their service. FCA started its operation in 2013 as an independent regulator to make sure that the customers’ fund remains safe inside the country. Nevertheless, the strict and organized FCA makes the UK one of the best countries for forex trading.

  • Australia- Australian Securities & Investment Commission (ASIC)

ASIC was created with the aim to observe the financial firms as well as the organizations in Australia. Started in 1998, AISC enforced the laws strictly for the financial, market and corporate level and aimed to build a healthy financial system. You will find many top forex brokers list in Australia, which you can use to choose the next broker.

  • New Zealand- Financial Markets Authority (FMA)

FMA is a government organization that forces financial companies to follow the rules and ensure security for the customers.

  • Singapore- Monetary Authority of Singapore (MAS)

MAS works on establishing rules for the financial institution in Singapore. It implements regulations, legislations, directions, notices and more in Singapore.

  • UAE- Dubai Financial Service Authority (DFSA), Financial Services Regulatory Authority (FSRA), Central Bank of the UAE

The DFSA is an independent regulatory organization that was built to make a financial-free zone in Dubai. Due to its easy regulatory body, for Muslims, it is the best country for forex trading.

  • South Africa- Financial Sector Conduct Authority (FSCA)

FSCA oversees the financial services and products in South Africa, including banks, insurance, retirement funds and more. The main goal of FSCA is to create market efficiency.

  • Kenya- Capital Markets Authority (CMA)

It is an independent government authority that is responsible for licensing, supervising and monitoring the financial market activities.

  • Nigeria- Central Bank of Nigeria (CBN)

The Central Bank of Nigeria works as a bank and monetary authority. It was established by the CBN act of 1958.

  • India- Securities and Exchange Board of India (SEBI)

SEBI mainly regulates and controls the Indian security market. It protects the investors and promotes regulated securities and exchange.

  • Philippines- Securities and Exchange Commission (SEC)

SEC is a government agency in the Philippines that regulates the securities industry. Additionally, also responsible for maintaining the country’s company register.

  • Cyprus- Cyprus Securities and Exchange Commission (CySEC)

It is one of the top regulatory bodies in the world that regulates the top forex brokers in the world. It is an EU member state, so CySEC complies with the European MiFID.

  • Ireland- Central Bank of Ireland

First of all, it is Ireland’s central bank, but it is also responsible for regulating the country’s financial farms as well as the forex market.

  • Malaysia- Securities Commission of Malaysia

This organization directly works on making the rules and enforcing them for the betterment of the investors as well as the forex brokers.

  • Germany- Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)

BaFin is an independent federal organization in Germany that supervises the ministry of Finance all over the country.

  • France- Autorite Des Marches Fianciers (AMF)

AMF is mainly the stock market regulator in France that works keenly in safeguarding the traders as well as maintaining the financial market.

  • Austria- Financial Market Authority (FMA)

Established in 2002, FMA is the sole organization and autonomous supervising authority that checks the country’s financial activities.

All of this regulatory body will help you with the forex broker list in the world.

Account Types

When you head to sign up with one of the top forex brokers in the world, you will certainly find forex brokers account types. However, all the accounts will not be the same, and you will need to know the details of the account types.

Mainly, the accounts are divided into two types: demo account and real account. As a newbie, you might want to consider starting with virtual account to master the platform and practice your skills.

The real account comes in different types, such as, cent, micro and standard. Beginners can start with the cent or the micro accounts with the best forex broker in the world. After getting some experience, they can move to the standard account. While the mini or micro accounts may get you a low profit, the profitability in the standard account is higher.

Furthermore, the Islamic traders will also have the option to have a different type of account that complies with the religion. Usually, Muslims don’t trade with an account that has interests in it. So, they can now trade with the Islamic forex trading accounts.

Transaction Costs and Spreads By The Best Forex Brokers

Every single one of the best forex brokers in the world has transparency for transaction fees. Every trader working with the top forex brokers in any country will have to pay these fees. However, you need not pay more than you should.

As any of the companies on the top forex brokers list will tell you, the transaction fees are payable in two ways:

  • The Spread
  • A commission

The second thing to do when looking for the best forex brokers in your country, is to check their transaction rates. Always look for the cheapest one. However, do not sacrifice finding the top forex broker suitable for you in search of low transaction rates.

Check to see if you will need tight spreads for the trading you will engage in and review the options provided. Find the balance between security and low transaction costs when looking for the best brokers in the world to use

Trading Features

When you are trading with the best forex trading platform in the world, you will surely have a range of trading features to boost your trading as well as the profit. Following are some of the top features you may come across

Execution Model

The execution model can be confusing for most newbies, even the experienced traders. It is because the model may vary among the forex brokers by country. But the first thing you have to keep in mind is that there are numerous execution methods.

Each of the methods is different. However, nowadays, most of the best forex broker in the world offer a hybrid method instead of relying on a single method of execution. It depends on the number of factors, terms and conditions.

When trade, you should understand that the dealing desk broker or the market makers contain their own internal market. On the other hand, the direct market access brokers can get you access to the international markets.

Other terms you may come across are ECN, which actively connects all parties related to the ordering. ECN network does this through the electronic network with lightning-fast execution speed.

Another term you will face is STP. These brokers are similar to the DMA brokers, and those have ‘no dealing desk.’

Trades Execution Are Fast

The best forex broker in the world build a reputation for telling the traders the best price for their orders. When the market conditions are normal, there is no reason for your broker not to offer this information to you, when you click the ‘Buy’ or ‘Sell’ button.

A few pips make the difference between a loss and profit. The companies on the top forex brokers list fill you in at or very close to the market price.

Trading Tools and Platforms 

Top forex brokers in the world will certainly offer you the best forex trading platform, such as MetaTrader 4, MetaTrader 5 and cTrader. However, some of the traders may also offer their own platform. But you will commonly find the MT4 or the MT5 in most of the best forex broker in the world. All these platforms offer desktop, web and mobile trading opportunities.

Then we have technical indicators, which are helpful to do the technical analysis and boost on different order types.

Best forex trading platform in the world will also offer numerous trading tools as well as technical indicators, which can ultimately aid for the technical analysis and order. Nevertheless, you will also get advanced charting tools for top-level analysis and eventually take the trading decision.

All these trading tools aim to fulfill a variety of trading needs as well as improve trading success.

The Trading Platform Is User-Friendly

Traders who do forex online have to use a trading platform like MetaTrader. Most of the top forex brokers use their own trading platform. They provide it to you so you can watch what is happening in the market.

The best forex brokers in your country should have a platform that is user friendly and stable for accuracy. Always use the demo accounts the top forex brokers offer to get familiar with the trading platform used so there are no surprises later when you sign up.

Leverage

The goal of leverage is to trade the higher volume without depositing a hefty amount of money. That being said, the top forex brokers in the world will work on setting the maximum leverage required by the regulators.

However, the leverage amount depends on the dependence on the regulatory bodies. For instance, ASIC, EU and UK regulatory bodies allow a maximum 30:1 leverage for the retail traders while it is 400:1 for the professional traders. But suppose you live or stay outside of these areas you can avail the maximum leverage of 400:1, which can stretch up to 3000:1. If you get such an offer from any broker, you should check the regulation status of the broker via the proper regulatory authority.

Available Markets

Usually, the FX brokers are multi-asset brokers. They aim to cater to different currencies, such as “major, minor and exotic” currency pairs. Apart from the FX pairs, they also tend to offer CFD stocks. Moreover, some brokers may also offer real stocks other than the CFDs. Currently, most of the brokers offer indices, commodities, cryptos, bonds and more.

Easy Deposits and Withdrawals

When you are working the best forex brokers in your country, deposits and withdrawals should be easy to perform. The best forex brokers in the world make it easy for traders to withdraw profits made immediately after a request.

The only reason a broker holds your money is to make trade easier. With a broker, there is no reason why you should have a hard time getting the profits you have earned. Companies on the top forex brokers list, make sure that everyone gets their money quickly.

Customer Service Is Reliable

Always make sure that the broker you hire is easy to reach. Contact is very important because sometimes, they are not perfect. You should have an easy way to reach the broker any time you need anythin you know they should be in charge of.

The brokers you meet might be friendly and helpful when you are joining the market, but they usually become terrible at support. After they make the sale, even some of the best forex brokers become kind of hard to reach.

Now, you have the vital information about what you will need to do to find the best ones.

How do Different Types of Forex Brokers Work?

Just like the different types of forex brokers by country, different types of top forex brokers list are also available, and their working procedure is also different. Let’s get to know the forex broker types and their working procedure.

Market Maker

Also known as the dealing desk works via offering fixed spreads. Besides, they also work through choosing quotes above or below the current market price at a specific time. For beginners, working with a market maker or the dealing desk broker will be the perfect choice as the traders will not need to trade with the liquidity providers directly. However, dealing desk brokers usually make money from the spreads.

No Dealing Desk Broker (NDD)

Unlike the dealing desk broker, the NDD forex broker allows the traders to access the various interbank markets directly. A self-sufficient no-dealing desk broker does not need to have support through requoting the price. Therefore, while trading with the NDD best forex broker in the world, traders can trade even after any critical economic announcement without any kind of restriction. Further, this type of broker uses low spreads, which is also not fixed at all.

Spreads are not fixed, so their value can increase sharply if there is any surge in the volatility because of any kind of economic announcement. NDD brokers mainly earn money from increasing the spread or even charge commission per trading.

STP

The good thing about STP brokers is that they can direct the trading orders to the liquidity providers. Moreover, they don’t interrupt during the transaction while executing an order. Sometimes STP brokers work with numerous liquidity providers, which helps the trader to increase the success rate. However, traders should choose a broker that ensures the required services they want without any fraudulent activities. You can choose the best STP broker via our top forex brokers list.

ECN

ECN brokers offer all the available information to the users to ensure market transparency. This type of broker charges a commission for every trading a user initiate. Moreover, ECN broker allows the traders to complete all the transactions in the interbank market.

High Leverage Forex Broker 

Usually, you will not find plenty of the best forex broker in the world that offer high leverage for FX trading. As per Europe and Australian regulators, brokers can offer 1:30 leverage. But professional or institutional traders can get higher leverage than that. So, retail traders in Australia and Europe will get the benefits of high leverage.

How Does the Cent Account Broker Work?

The cent account holder can initiate trading in a small amount. Hence, the traders will not get much profit from this type of accounts as the trader’s leverage will be lower. Besides, the small amount of trading cannot increase profitability.

Zero Spread Broker

Usually, the ECN and NDD brokers offer zero spreads. Thus, you are able to access the market in raw spreads. However, the spread might vary according to the broker, and it can be as low as 0.0 pip spread. A zero spread broker is best for scalp traders as well as high-volume traders.

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