Top Forex Brokers In The World In 2024
Let’s delve into each of the premier brokers serving millions across the world:
1. Exness
Exness, established in 2008 and based in Limassol, Cyprus, is a reputable forex and CFD broker serving over 400,000 active clients across Asia and Europe.
Regulated in multiple jurisdictions, Exness offers trading in currencies, cryptocurrencies, stocks, indices, and commodities.
Features
- Regulated by FSA Seychelles, FSCA South Africa, BVI FSC, FSC Mauritius, CMA Kenya, FCA UK, and CySEC.
- Available in multiple languages.
- Offers trading in various instruments.
- No minimum deposit is required.
- Provides Market Maker and No Dealing Desk services.
- Trading Platforms: MT5, Proprietary, and MT4 platforms.
- Deposit and withdrawal options include various methods.
Pros
- Deposit and withdrawal options include various methods.
- Competitive forex pair spreads.
- Round-the-clock customer support.
- Variety of account options.
- Complimentary VPS hosting.
- Accessible social trading features.
- Integration with third-party tools.
Cons
- Unavailable for retail clients in Europe and the UK.
- Limited regulatory oversight in certain regions.
Exness provides a comprehensive trading experience, boasting top-tier regulation, a wide range of instruments, competitive costs, and advanced platforms.
You can register on Exness to enjoy round-the-clock support and integrated features, Exness caters to traders of all levels.
Risk Disclaimer: 78.33% of retail investor accounts lose money when trading Online Forex/CFDs with this provider.
2. XTB
XTB, founded in 2002 and headquartered in Poland, offers a wide range of trading instruments spanning forex, shares, indices, commodities, and cryptocurrencies.
Features
- Regulated by FCA UK, CNMV Spain, KNF Poland, FSC Mauritius, and CySEC.
- Available in 15 languages.
- Offers trading in various instruments.
- $0 minimum deposit.
- Provides Market Maker and STP services.
- Trading Platforms: MT4 and xStation 5 platforms.
- Deposit and withdrawal options include various methods.
Pros
- Regulated by multiple prestigious regulatory bodies.
- Competitive pricing.
- Assigned personal account manager.
- Negative balance protection is available in EU/UK regions.
- Advanced and reliable trading platform.
- Extensive research resources.
Cons
- Withdrawals are exclusively processed through bank transfers.
- A limited selection of trading platforms available for clients.
XTB stands out as a compelling choice for traders at every skill level, offering innovative features like the heatmap, scanners, and traders statistics tool within the xStation 5 platform. With low fees and tight spreads, XTB facilitates trading success across the board.
Risk Disclaimer: 81% of retail CFD accounts lose money when trading on this platform
3. Avatrade
Established in 2006 in Ireland, Avatrade is a prominent forex and CFD broker boasting multiple licenses and over 840 CFDs and vanilla options.
Features
- Regulated by FSCA South Africa, CBI Ireland, ASIC Australia, and FSA Japan.
- Available in multiple languages.
- Offers trading in various instruments.
- Maximum Leverage Up to 1:30 for most regions.
- Provides Market Maker and Dealing Desk services.
- Trading Platforms: AvaTradeGo, AvaOptions, AvaSocial, MT5, Proprietary, MT4, WebTrader, and DupliTrade.
- Deposit and withdrawal options include various methods.
Pros
- Various Tier-1 regulatory approvals.
- Risk mitigation tool available.
- Platform selection options.
- Trading in CFDs and Vanilla options.
- Competitive pricing.
Cons
- High inactivity charge.
- Single account option.
As one of the top Forex brokers in the world in 2024 AvaTrade reputably appears to be an ideal choice for technical traders across all experience levels.
Traders can register on Avatrade to utilize its market-making function which caters well to high-frequency trading. This feature stands out even more for day trading and position trading, thanks to its favorable low swaps.
Risk Disclaimer: 76% of retail investor accounts lose money while trading with this provider.
4. Markets.com
Established in 2009, Markets.com is a versatile online CFD broker offering a wide range of assets including forex pairs, commodities, indices, cryptocurrencies, stocks, ETFs, and bonds.
Features
- Regulated by multiple authorities including FSC Mauritius, FSCA South Africa, CySEC Cyprus, ASIC Australia, and FCA UK.
- Supported Languages: English, French, Arabic, Bulgarian, Italian, Spanish, German.
- Products: Currencies, Stocks, ETFs, Crypto, Bonds, Indices, Commodities, Futures.
- Minimum Deposit: $100.
- Maximum Leverage: Varies by regulatory jurisdiction.
- Trading Desk Type: Market Maker, STP.
- Trading Platforms: MT5, Proprietary, MT4.
- Deposit and withdrawal options include Wire Transfer, Skrill, Neteller, and Credit Card.
Pros
- Governed by three Tier-1 regulatory bodies.
- Robust research and educational resources.
- Intuitive proprietary trading platform.
- Special privileges are tailored for seasoned traders with larger deposits.
Cons
- The trading costs exceed the standard industry rates.
To register on Markets.com means trading opportunities in various markets and the platform stands out for its extensive selection of instruments. However, the broker’s overall fees exceed the industry average.
Risk Disclaimer: 74-89% of retail investor accounts lose money when trading CFDs on this platform
5. Vantage
Established in 2009 and headquartered in Australia, Vantage is a forex and CFD broker regulated by ASIC and FSCA in South Africa, offering access to over 940 instruments across various asset classes.
Features
- Regulated by FSCA South Africa, CIMA Cayman Islands, ASIC Australia, and VFSC Vanuatu.
- Supported Languages: English, French, Arabic, Italian, Spanish, Chinese, Greek, Malaysian.
- Products: Currencies, Stocks, ETFs, Crypto, Indices, Commodities, Futures.
- Minimum Deposit: $50.
- Maximum Leverage: Varies by regulatory jurisdiction.
- Trading Desk Type: ECN, No dealing desk.
- Trading Platforms: MT4, MT5, ProTrader.
- Deposit and withdrawal options include a wide range of methods.
Pros
- A variety of platforms are available.
- Comprehensive educational materials.
- Raw spreads are offered across various markets.
- Advanced ProTrader features.
Cons
- Delayed order execution times.
- Slightly higher swap fees.
- Compensation scheme limited to one entity.
To register on Vantage offer traders chances to check out its competitive pricing and a range of lower-risk securities, making it appealing for day traders and position traders. However, its execution speeds may not be suitable for high-frequency strategies like scalping.
Risk Disclaimer: 74-89% of retail investor accounts lose money when trading CFDs on this platform.
6. eToro
Established in 2007 and based in Israel, eToro is a prominent derivatives broker known for offering a wide range of trading instruments, supporting tools, and an innovative proprietary platform.
Features
- Regulated by CySEC, FSA Seychelles, FCA UK, and ASIC.
- Available in multiple languages.
- Offers trading in various instruments including Currencies, Stocks, ETFs, Crypto, Indices, and Commodities.
- Minimum deposit of $50.
- Maximum leverage varies by regulatory jurisdiction.
- Trading Desk Type: Market Maker.
- Trading Platforms: eToro Platform.
- Deposit and withdrawal options include a wide range of methods.
Pros
- Well-regulated by multiple authorities.
- Platform packed with features.
- Abundance of supporting tools available.
- Wide range of social trading options.
- Ideal for hedging strategies.
Cons
- Lack of desktop platform availability.
- Scalping is prohibited.
eToro serves as a market maker, providing access to a diverse range of trading instruments.
With its competitive pricing and abundance of features, it caters to traders of all levels, particularly those interested in copy trading and technical analysis.
Risk Disclaimer: 76% of retail CFD accounts lose money while trading on this platform.
7. CMC Markets
Established in 1989 in the UK, CMC Markets is one of the top forex brokers in the world in 2024 and a leading broker in CFD and Spread Betting services, operating under the oversight of various regulatory bodies worldwide.
Features
-
- Regulated by multiple authorities including BaFin Germany, ASIC Australia, MAS Singapore, IIROC Canada, DFSA UAE, FMA New Zealand, and FCA UK.
- Supported Languages: Multiple languages available.
- Products: Currencies, Stocks, ETFs, Bonds, Indices, Commodities.
- Minimum Deposit: $0.
- Maximum Leverage: Varies by regulatory jurisdiction.
- Trading Desk Type: Dealing Desk, Market Maker.
- Trading Platforms: CMC Mobile App, CMC Web Platform, MT4.
- Deposit and withdrawal options include PayPal, Wire Transfer, and Credit Card.
Pros
- Registrations with several leading regulatory bodies worldwide.
- Competitive spreads and fees.
- An exceptional variety of tradable instruments.
- Robust research resources for clients.
- Excellent customer service support.
- State-of-the-art trading platform.
Cons
- A monthly inactivity fee applies.
- The education section lacks courses.
- Islamic Account option is unavailable.
CMC Markets boasts robust education and research resources, with reliable customer service, albeit not always the quickest.
These qualities position it as a top choice suitable for traders of all levels, from beginners to advanced.
Risk Disclaimer: 67% of retail CFD accounts lose money while trading on this platform.
8. Plus500
Founded in 2008 in Israel, Plus500 as one of the top forex brokers in the world in 2024 has risen to prominence in the CFD industry, offering a cutting-edge proprietary trading platform and serving clients across over 50 countries.
Features
- Regulated by CySEC Cyprus.
- Supported Languages: Multiple languages available.
- Products: Options, Currencies, Stocks, ETFs, Crypto, Indices, Commodities.
- Minimum Deposit: $100.
- Maximum Leverage: 1:30.
- Trading Desk Type: Dealing Desk, Market Maker.
- Trading Platforms: Plus500 Web Platform, Mobile Platform.
- Deposit and withdrawal options include PayPal, Wire Transfer, Moneybookers, Skrill, Credit Card.
Pros
- Regulated across various jurisdictions globally.
- Offers a wide range of CFDs.
- User-friendly trading platform.
- Fast-response 24/7 chat support.
- Includes innovative +Insights tool.
Cons
- Lack of telephone support.
- Absence of alternative trading platforms.
- Elevated swap fees.
- Absence of a desktop platform.
Plus500 attracts novice traders with its user-friendly interface and comprehensive toolset. While it may not meet the needs of algorithmic traders and scalpers, it stands out for its advanced technology and distinctive features, including the Insights section.
Risk Disclaimer: 82% of retail CFD accounts lose money while trading on this brokerage.
9. XM
Established in 2009, XM Group, commonly referred to as “XM,” specializes in forex and CFD trading across various asset classes, operating through four entities globally.
Features
- Regulated by FSC Belize, ASIC Australia, DFSA UAE, and CySEC Cyprus.
- Supported Languages: Multiple languages available.
- Products: Currencies, Stocks, Indices, Commodities.
- Minimum Deposit: $5.
- Maximum Leverage: Varies by regulatory jurisdiction.
- Trading Desk Type: No dealing desk.
- Trading Platforms: MT4, MT5.
- Deposit and withdrawal options include various methods.
Pros
- Low minimum required deposit.
- No fees for deposits and withdrawals.
- Customer support is available in over 28 languages.
- Robust educational and research resources.
- Access to both MT4 and MT5 platforms.
Cons
- Investors outside the EU lack access to investor compensation schemes.
XM offers low spreads on various instruments and provides robust educational assistance, particularly valuable for novice traders. When traders register on XM, they get to enjoy its minimal deposit requirement and diverse range of assets, it equally presents an attractive option for traders of all levels.
Risk Disclaimer: 72,82% of retail investor accounts lose money while trading on this platform.
10. HotForex (HFM)
HotForex, one of the top forex brokers in the world in 2024 and part of the HF Markets Group, offers an extensive range of account types and trading assets, supported by top-tier software and favorable trading conditions.
Features
- Regulated by FCA UK, FSCA South Africa, DFSA Dubai, FSA Seychelles, and CMA Kenya.
- Supported Languages: 24 languages supported.
- Products: Crypto, Forex, Metals, Indices, Shares, Commodities, Bonds.
- Minimum Deposit: $5.
- Maximum Leverage: 1:30, 1:1000.
- Trading Desk Type: Dealing Desk, No dealing desk.
- Trading Platforms: Various platforms are available.
- Deposit and withdrawal options include Wire Transfer, Union Pay, Credit Card, Neteller, Skrill, Bitcoin, and more.
Pros
- Bank transfers or deposits incur no commissions.
- Minimal spreads, starting at zero pips.
- Regulated by multiple authorities, including a top-tier regulator.
- In-house market analysis and research aid traders.
- Favorable trading conditions are suitable for both beginners and experienced traders.
Cons
- Limited account currency choices.
HotForex is a reputable broker known for its zero-spread account and excellent customer service. With a global presence and a wide range of offerings, it caters to both novice and experienced traders, ensuring accessibility to the forex market for all.
Risk Disclaimer: Over 75% of the traders trading CFDs lose money while trading with this provider.
This review done by Brokercheck covers the top forex brokers in the world in 2024. Each broker offers unique features and benefits, catering to a diverse range of traders with varying needs and preferences.
It’s essential to carefully consider these factors written about the top forex brokers in the world in 2024 before choosing one that aligns with your trading goals and requirements.
