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Best Forex Brokers

The best forex broker for you depends on where you live, how often you trade and which platform you use. We compared the brokers we have reviewed in full on trading costs, regulation, platforms and minimum deposits, using facts checked in October 2026.

Quick picks:

  • Best overall: Pepperstone
  • Best for research and range of markets: IG
  • Best for raw spreads and active trading: IC Markets
  • Best trading platform: XTB
  • Best for beginners and copy trading: eToro

Trading from the US? These brokers cannot accept US clients. See our guide to the best forex brokers in the USA instead.

Risk warning: Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Affiliate disclosure: AlphaInvestors may earn a commission if you open an account through links on this page, at no extra cost to you. Read our affiliate disclosure.

1

 Pepperstone

  • Low costs: Raw spreads from about 0.1 pips on EUR/USD on the Razor account, plus commission.
  • Top tier regulation: Licensed by ASIC, the FCA, CySEC and BaFin, among others.
  • Every major platform: MetaTrader 4 and 5, cTrader, TradingView and its own web and mobile platform.
  • No fixed minimum: You can open an account without a set minimum deposit in most regions.
  • Watch out for: Research and education are lighter than at IG.
Rating
4.6
Rated 4.6 out of 5
Visit Pepperstone »
Read Our Full Review
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
No fixed minimum in most regions
Forex Majors Spread
About 0.1 pips (Razor, plus commission), about 1.1 pips (Standard)
Available Leverage
Up to 1:30 (UK, EU, Australia), up to 1:200 (Bahamas)
Tradeable Assets
Forex, indices, shares, commodities, metals, ETFs, crypto
Regulator
ASIC, FCA, CySEC, BaFin, DFSA, CMA, SCB
Mobile App
Yes
“Pepperstone is our top pick overall: low costs, strong regulation and the widest platform choice of any broker we review.”

1. 

Pepperstone

Rating
4.6
Rated 4.6 out of 5
Visit Pepperstone »
Read Our Full Review
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Low costs: Raw spreads from about 0.1 pips on EUR/USD on the Razor account, plus commission.
  • Top tier regulation: Licensed by ASIC, the FCA, CySEC and BaFin, among others.
  • Every major platform: MetaTrader 4 and 5, cTrader, TradingView and its own web and mobile platform.
  • No fixed minimum: You can open an account without a set minimum deposit in most regions.
  • Watch out for: Research and education are lighter than at IG.
Min Deposit:
No fixed minimum in most regions
Forex Majors Spread:
About 0.1 pips (Razor, plus commission), about 1.1 pips (Standard)
Available Leverage:
Up to 1:30 (UK, EU, Australia), up to 1:200 (Bahamas)
Tradeable Assets:
Forex, indices, shares, commodities, metals, ETFs, crypto
Regulator:
ASIC, FCA, CySEC, BaFin, DFSA, CMA, SCB
Mobile App:
Yes
“Pepperstone is our top pick overall: low costs, strong regulation and the widest platform choice of any broker we review.”

Visit Pepperstone »

2

 IG

IG Index Review
  • Trusted name: Founded in 1974 and listed on the London Stock Exchange, with licenses across the UK, Europe, Asia and Australia.
  • Huge range: Forex plus thousands of shares, indices, commodities and more from one account.
  • Research and education: Some of the best market analysis and learning material of any broker.
  • Platforms: IG web and app, MetaTrader 4 and 5, TradingView, ProRealTime and L2 Dealer.
  • Watch out for: Standard spreads are not the cheapest, and some fees apply to inactive accounts.
Rating
4.6
Rated 4.6 out of 5
Visit IG »
Read Our Full Review
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Min Deposit
Effectively none for retail accounts
Forex Majors Spread
Around 0.9 pips on EUR/USD (standard account)
Available Leverage
Up to 1:30 for retail clients in the UK, EU and Australia
Tradeable Assets
Forex, indices, shares, ETFs, commodities, crypto, bonds, options
Regulator
FCA, ASIC, FSA (Japan), MAS, FINMA, FMA, DFSA
Mobile App
Yes
“IG is the best choice if you want a large, long established broker with excellent research and a huge range of markets.”

2. 

IG

IG Index Review
Rating
4.6
Rated 4.6 out of 5
Visit IG »