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Risk·77–82% of retail CFD accounts lose money. Trade only with capital you can afford to lose.
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Brokerlist2026

Tracked byIndependent review teamUpdated MethodologyEditorial top pick: FxPro

Forex Brokers, 2026

Independent ranking of forex brokers — built around actual cost-per-lot on EUR/USD, verified regulator licences and execution realities. We track broker-published spreads and commissions against the FCA, ASIC, CySEC and FSCA registries, list the regulated entity that applies in your jurisdiction across MetaTrader 4, MetaTrader 5 and cTrader platforms, and don't reorder when an affiliate pays more. No live execution tests, no narrative reviews — just what brokers themselves disclose, with a clear note when those disclosures are vague.

Find your broker3 questionsNo email, no signup

I live in , starting with , and I'm .
9brokers tracked this quarter. Pricing copied from broker specification pages; regulators verified weekly.

Broker-published pricing · Regulator checks · Weekly refresh

Trade-cost calculator

EUR/USD · standard lot
1.0standard lots
0.110
20
5100

Total cost per round-turn trade = average spread × $10/pip × lots + round-turn commission. Spreads are broker-published typical figures — your realised execution will vary, especially around news.

At 20 trades a month, you save $160/month ($1920/year) by choosing Libertex over XM Group.

Open account at Libertex →
BrokerSpreadCommissionTotalvs cheapestOpen account
Libertex$5.00—$5.00cheapest→
RoboForex$2.00$4.00$6.00+$1.00→
Deriv$7.00—$7.00+$2.00→
Alpari$2.50$5.00$7.50+$2.50→
Tickmill$2.00$6.00$8.00+$3.00→
AvaTrade$9.00—$9.00+$4.00→
FxPro$3.00$7.00$10.00+$5.00→
XM Group$13.00—$13.00+$8.00→

Ranking · 9 brokers · forex

sorted by editorial score

  1. Editorial top pick

    01FxPro

    FCACySECSCBFSCA
    Open account at FxPro →
    Avg spread
    0.30pip
    midpoint of broker range
    Cost / lot
    $10.00
    incl. $7 commission
    Min deposit
    $100
    Max leverage
    1:500
    EU/UK retail: 1:30 · SCB (Bahamas) entity: 1:500

    Four diversified regulators (FCA, CySEC, FSCA, SCB) with 18+ years operating history · MT4/MT5 Standard accounts are spread-only at ~1.2 typical pips — only use cTrader or Raw if you want commission-based pricing

    Fits ifYou are EU or UK retail and want double tier-1 cover (FCA + CySEC) at one broker
    PlatformsMetaTrader 4, MetaTrader 5, cTrader, FxPro Edge

    Founded in 2006 · Verified Jun 1, 2026

    Full FxPro details →

  2. 02Tickmill

    FCACySECFSAFSCA
    Open account at Tickmill →
    Avg spread
    0.20pip
    editorial estimate
    Cost / lot
    $8.00
    incl. $6 commission
    Min deposit
    $100
    Max leverage
    1:1000
    EU/UK retail: 1:30 · Seychelles entity: 1:1000

    Raw account: 0.0 from-spread + $6 round-turn — ECN-style pricing in a commission-based tier · Broker publishes "from" spreads only — realised typical is not disclosed on the accounts page

    Fits ifYou are EU or UK retail and want FCA + CySEC double cover with ECN-style commission pricing
    PlatformsMetaTrader 4, MetaTrader 5

    Founded in 2014 · Verified Jun 1, 2026

    Full Tickmill details →

  3. 03Deriv

    BVIMFSA
    Open account at Deriv →
    Avg spread
    0.70pip
    editorial estimate
    Cost / lot
    $7.00
    no commission
    Min deposit
    $5
    Max leverage
    1:1000
    EU retail (MFSA Malta): 1:30 · Labuan / Vanuatu / BVI entities: up to 1:1000

    $5 minimum + 25 years of operating history (since 1999 as Binary.com, rebranded Deriv in 2020) · Forex is secondary to synthetic indices (their proprietary product) — CFD instrument breadth is narrower than ECN-focused brokers like Tickmill

    Fits ifYou trade synthetic indices (Volatility, Crash, Boom) — Deriv invented this product category
    PlatformsMetaTrader 5, Deriv X

    Founded in 1999 · Verified Jun 1, 2026

    Full Deriv details →

  4. 04Libertex

    SVG FSA
    Open account at Libertex →
    Avg spread
    0.50pip
    midpoint of broker range
    Cost / lot
    $5.00
    no commission
    Min deposit
    $10
    Max leverage
    1:999
    Libertex International (St. Vincent & the Grenadines). EU/EEA residents are served by the separate CySEC-regulated entity at 1:30.

    $10 minimum + Forex Club heritage (founded 1997) — long operating history · Offshore SVG (St. Vincent & the Grenadines) registration only — no tier-1 (FCA/ASIC) or EU (CySEC) oversight

    Fits ifYou have $10 to start — one of the lowest entry minimums in our list
    PlatformsMetaTrader 4, MetaTrader 5, Libertex Platform

    Founded in 1997 · Verified Jun 1, 2026

    Full Libertex details →

  5. 05AvaTrade

    ASICFSCACBIBVI
    Open account at AvaTrade →
    Avg spread
    0.90pip
    broker-published typical
    Cost / lot
    $9.00
    no commission
    Min deposit
    $100
    Max leverage
    1:400
    EU/UK/AU retail: 1:30 · FSCA / BVI entities: up to 1:400

    Regulated in 6 jurisdictions · Spread-only pricing at 0.9 pip = ~$9/lot round-turn — wider than ECN/Raw brokers at similar volume

    Fits ifYou are AU or EU retail and want CBI + ASIC double cover with 20 years of operating history
    PlatformsMetaTrader 4, MetaTrader 5, AvaOptions, DupliTrade

    Founded in 2006 · Verified Jun 1, 2026

    Full AvaTrade details →

  6. 06XM Group

    ASICCySECIFSC
    Open account at XM Group →
    Avg spread
    1.30pip
    midpoint of broker range
    Cost / lot
    $13.00
    no commission
    Min deposit
    $5
    Max leverage
    1:1000
    EU/AU retail: 1:30 · XM Global (offshore entity): up to 1:1000

    $5 minimum makes starting cheap · Standard account EUR/USD spread 1.0–1.6 pip (broker-published range) + $0 commission ≈ $13/lot — one of the highest costs in our list

    Fits ifYou want the lowest-friction entry in our list — $5 minimum deposit
    PlatformsMetaTrader 4, MetaTrader 5, Web Trader

    Founded in 2009 · Verified Jun 1, 2026

    Full XM Group details →

  7. 07Bybit

    VARA1 action
    Open account at Bybit →
    Avg spread
    0.10pip
    broker-published typical
    Cost / lot
    $4.00
    incl. $3 commission
    Min deposit
    None
    Max leverage
    1:500
    Up to 1:500 on FX/CFD via MT5 · 1:100+ on crypto perpetuals · no ESMA cap (offshore crypto-CFD exchange)

    MT5 CFD offering with ~0.1 typical spread + ≈$3 RT equivalent — cost-competitive with ECN tiers despite crypto-first business · FX CFDs are secondary product — Bybit core business is crypto derivatives, FX depth and liquidity differ from dedicated forex brokers

    Fits ifYou already trade crypto at Bybit and want FX CFDs in the same unified-margin account
    PlatformsMetaTrader 5, Bybit

    Founded in 2018 · Verified Jun 1, 2026

    Full Bybit details →

  8. 08RoboForex

    IFSC
    Open account at RoboForex →
    Avg spread
    0.20pip
    broker-published typical
    Cost / lot
    $6.00
    incl. $4 commission
    Min deposit
    $10
    Max leverage
    1:500
    IFSC Belize offshore only — ECN tier; separate Pro account reaches 1:2000

    ECN account: 0.2 typical + $4 round-turn ≈ $6/lot — among cheapest commission tiers in our list · IFSC Belize only — no tier-1 regulator, no FSCS-equivalent protection

    Fits ifYou're in a non-restricted, non-EU-focused jurisdiction and want ECN-style $6/lot pricing at a $10 entry minimum
    PlatformsMetaTrader 4, MetaTrader 5, R Stocks Trader

    Founded in 2009 · Verified Jun 1, 2026

    Full RoboForex details →

  9. 09Alpari

    MISA1 action
    Open account at Alpari →
    Avg spread
    0.25pip
    midpoint of broker range
    Cost / lot
    $7.50
    incl. $5 commission
    Min deposit
    $500
    Max leverage
    1:1000
    Pro ECN tier (Mauritius / St. Vincent offshore); Standard tier reaches 1:3000 at $50 min · not offered to EU/UK/AU retail

    27 years of operating history (founded 1998) — predates most current retail brokers · Regulated only by offshore entities (Mauritius / St. Vincent) after losing its FCA licence in 2015 — no tier-1 regulator, no FSCS-equivalent protection

    Fits ifYou have $500+ and want commission-based Pro ECN pricing at ~$7.50/lot with 27 years of operating history
    PlatformsMetaTrader 4, MetaTrader 5

    Founded in 1998 · Verified Jun 1, 2026

    Full Alpari details →

Tracking forex broker pricing

Forex spreads are quoted in pips on EUR/USD as the industry reference, but actual cost varies by account tier — raw/ECN accounts charge a smaller spread plus a per-lot commission, while standard accounts bundle costs into a wider spread. We track both and surface the per-lot total so the comparison is consistent across pricing models.

Maximum leverage depends on the regulated entity that serves you: 1:30 retail under FCA and CySEC, 1:30 under ASIC, up to 1:1000 on offshore SCB or FSA entities. Each broker profile lists which entity onboards which jurisdictions, so the leverage you see matches what you'd actually receive.

Regulator placement matters more than license count: a broker with FCA, CySEC and ASIC isn't safer than one with FCA alone if your account is onboarded by an offshore subsidiary. Each broker page lists which entity onboards retail clients in your jurisdiction. Verify directly on the regulator's public register before funding — FCA Financial Services Register, ASIC Connect, CySEC Regulated Entities, FSCA list — and confirm the broker's stated licence number resolves to an active authorisation.

Common cost traps: 'zero spread' or 'raw spread' accounts pair tiny published spreads with $7-$10 round-turn commission per lot, which often costs more than a 'standard' account at 1.0-1.2 pip. 'IB rebate' offers can pay back commission but typically widen spread to fund the rebate. Marketing 'from 0.0 pips' rarely reflects realised cost — the published typical spread used in this ranking is the more reliable baseline. Also check: minimum deposit, deposit/withdrawal fees, and inactivity fees that quietly drain dormant accounts.

How we score

Full methodology →

Editorial rating is a weighted score across four categories. The largest weight goes to actual per-lot trading cost, because it is the one metric every retail trader materially feels.

We verify regulator status against the FCA, ASIC, CySEC and other registries. Spread figures are broker-published — copied from each broker's specification page, not live-tracked. We do not run live execution tests, time withdrawals, or open support tickets.

Affiliate relationships do not move positions in this list. When a broker pays us more per lead, that shows in our paid-placement disclosure — not in the ordering.

Cost of trading
35%
Regulation & fund safety
30%
Operating history
20%
Accessibility
15%

Currently tracking 14 brokers across 55 regulators · 2 regulatory actions on file · pricing verified June 1, 2026.

Regulator registries: FCA · ASIC · CySEC · FSCA · SEC EDGAR

Frequent questions

5
What's the minimum deposit to trade forex?

Most regulated forex brokers accept deposits from $100. Offshore-licensed brokers like Deriv and XM accept $5. The minimum doesn't determine quality — what matters is the regulator and the per-lot cost. Below $100 you'll typically find offshore entities and tighter feature limits.

What leverage can I use for forex trading?

Retail leverage is 1:30 under FCA, CySEC and ASIC for major pairs. Offshore-regulated entities (SCB, FSA) offer 1:500 to 1:1000. Higher leverage means higher liquidation risk — at 1:500, a 0.2% adverse move wipes out a position. Each broker profile lists which entity onboards you and the leverage that applies.

When are forex markets open?

Forex trades 24 hours from Sunday 22:00 UTC to Friday 22:00 UTC, across Sydney, Tokyo, London and New York sessions. Major-pair liquidity peaks during the London-New York overlap (12:00-16:00 UTC). Spreads widen during low-liquidity periods and around news releases.

Which forex pair has the lowest spreads?

EUR/USD is the most-traded pair globally and consistently the cheapest, with typical raw spreads of 0.0-0.3 pips on ECN accounts and 0.6-1.0 pips on standard accounts. USD/JPY and GBP/USD follow. Exotic pairs (USD/TRY, USD/ZAR) carry spreads 10-50× higher.

What's the difference between forex and CFD trading?

Forex is a subset of CFDs — currency CFDs specifically. The same brokers typically offer both, with CFDs covering indices, commodities, equities and crypto in addition to currency pairs. Pricing models match (spread + commission for ECN, spread-only for standard). The same regulator licences govern both.

Other asset categories

Forex brokers by country