Best Forex Brokers 2025

With the multitude of forex broker out there, it can be a bit confusing, time-consuming, and risky to choose the right broker. Therefore, we have analysed and reviewed hundreds of forex brokers based on key factors including but not limited to regulation, product offering, trading conditions, fees, platform quality, payment processing, and customer support.

Assetmagnate’s top picks for best forex brokers in 2025 include:

  • Saxo – Best forex broker in 2025.
  • Interactive Brokers – Best for professional traders and institutional clients.
  • Pepperstone – Best for low-cost, active, and algorithmic trading.
  • Forex.com – Well-rounded offering.
  • Exness – Best for high forex leverage.
  • XM – Best for low-capital traders.
  • eToro – Best for beginners, social trading, and copy trading.

1. Saxo

Saxo Market logo

Saxo is a leading multi-asset broker known for its advanced infrastructure and premium trading experience. The broker offers a wide range of trading and investment products, with access to over 72,000 global financial instruments, including 190 currency pairs, stocks, ETFs, mutual funds, commodities, bonds, options, futures, and CFDs.

Saxo is distinguished by its advanced trading platforms, SaxoTraderGO and SaxoTraderPRO, as well as its broad market reach, award-winning research, deep liquidity, and competitive spreads. It is suited for professionals, high-volume traders, and institutional clients who require deep market access and tools for professional-level analysis and execution.

Saxo Overview

Estabished1992
HeadquatersCopenhagen, Denmark.
RegulationFSA (Denmark/ EU), FCA (UK), ASIC (Australia), MAS (Singapore), FINMA (Switzerland), SFC (Hong Kong), FSA (Japan), Consob (Italy), National Bank of Belgium & FSMA (Belgium), Bank of Brazil (Brazil), Czech National Bank (Czech), Central Bank of U.A.E (UAE), and Banque de France & AFM (France).
ProductsLeveraged Products – Forex, Options, CFDs (on Forex, Stocks, ETFs, Commodities and Bonds), Stocks, Forex Options, Listed Options, Crypto FX, Futures, Commodities, Turbo, ETFs, Mutual Funds, and Bonds.
Cash Products – Stocks, ETFs, Investment Funds, Bonds, and Crypto ETFs.
Forex OfferingSpot FX, forex options, forex futures, FX swaps, and forex CFDs.
Currency Pairs185+ currency pairs, including major, minor, and exotic pairs.
Maximum LeverageRetail: 1:25
Professional: 1:66
PlatformSaxoInvestor (Web and Mobile), SaxoTraderGO (Web and Mobile), and SaxoTraderPRO (Desktop Only)
Trading ToolsTradingView, OpenAPI for Excel, MultiCharts, and Saxo APIs.
Payment MethodsBank Transfer, Debit Cards, and Portfolio Transfer.
Account Minimum$2,000 (varies by region)
Account Base CurrenciesAED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, INR, ILS, JPY, MXN, NOK, NZD, PLN, SEK, SGD, ZAR, TRY, and USD.
Rating4.8/ 5
Forex FeesLow spreads (From 0.6 pips on EUR/USD), tiered pricing.
Ideal ForBeginners, professionals, algorithmic traders, institutional clients, and high-volume traders.

Pros

  • Strong regulatory framework across top-tier jurisdictions.
  • Over 190 currency pairs, including major, minor, and exotic pairs.
  • Deep liquidity.
  • Low forex trading fees.
  • No inactivity fee.
  • Tiered account structure with lower fees and loyalty benefits for high-volume traders.
  • Supports multiple account types, including individual, joint, tax-efficient, and institutional.
  • Great for portfolio diversification beyond forex.
  • Institutional-grade proprietary trading platforms with integration to third-party platforms.
  • Quality educational resources.
  • Quality research and insights from Saxo’s expert analysts.
  • Multi-lingual and multi-currency support for international clients.
  • Great customer support service.

Cons

  • High minimum deposit for premium accounts.
  • Complex fee structure for beginners.
  • Limited third-party platform support.
  • Withdrawal and deposit options could be more diverse.
  • Customer support service can vary by region.
Read Full Review: Saxo Review

2. Interactive Brokers

Interactive Brokers Logo

Interactive Brokers (IBKR) is a globally recognized brokerage known for its institutional-grade infrastructure and global market reach. The broker provides access to over 125 markets in 31 countries, with an extensive product range that includes currencies, stocks, ETFs, options, futures, forecast contracts, bonds, and funds. It supports trading in over 100 currency pairs, including major, minor, and exotic pairs.

Interactive Brokers delivers one of the most advanced multi-asset platforms with low-cost trading, institutional-grade tools, wide market reach, deep liquidity, advanced trading capabilities, and algorithmic trading support.

Interactive Brokers is best suited for professional traders, high-volume traders, algorithmic traders, and institutional clients who demand institutional-grade trading tools, efficient access to global markets, and advanced trading capabilities.

Interactive Brokers Overview

Estabished1977
HeadquatersGreenwich, Connecticut, United States.
RegulationSEC, FINRA (US), FCA (UK), CBI (Europe/ Ireland), CIRO (Canada), SFC (Hong Kong), ASIC (Australia), MAS (Singapore), FSA (Japan), and SEBI (India).
ProductsSpot Currencies, Stocks, ETFs, Options, Futures/FOPs, Forecast & Event Contracts, US Spot Gold, Bonds, Mutual Funds, Hedge Funds
Forex OfferingSpot Currencies, Forex Options, Forex Futures, and Forex CFDs
Currency Pairs100+ currency pairs, including major, minor, and exotic pairs.
Maximum Leverage1:50 (Retail)
PlatformClient Portal (Web), IBKR Desktop, Trader Workstation (Desktop), IBKR Mobile, IBKR GlobalTrader (Mobile), and TradingView.
Trading ToolsAccumulate/Distribute Algo, Bracket Orders, Exit Strategy, TWS Layout Library, FXTrader, Split Spread, Options Liquidity Tool, Excel and the TWS API, Attach an FX Order to Trades, TradingView, BookTrader, Portfolio Performance Profile, Integrated Stock Window, IBKR Forum, Overnight Trading Hours, Tax Loss Harvesting, and Recurring Investments.
Payment MethodsWire Transfer, Bank Transfer/ SEPA, eDDA, Check (Scan or Mail), ACH, Wise, Bill Pay, and BPAY.
Account Minimum$0
Account Base CurrenciesAED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, TRY, SEK, SGD, ZAR, and USD.
Rating4.7/ 5
Forex FeesTight spreads (from 0.1 pips), Ultra-low commissions, and volume-based tiered pricing.
Ideal ForProfessional traders, algorithmic traders, high-volume traders, and institutional clients.

Pros

  • Strong global regulatory framework.
  • Institutional-grade platforms with algorithmic trading support.
  • Simplified mobile interface via IBKR Mobile.
  • Extensive product range.
  • Extensive global market access with 100+ markets in 30+ countries.
  • Over 100 currency pairs, including major, minor, and exotic pairs.
  • Great for portfolio diversification beyond forex.
  • Deep liquidity.
  • Advanced margin trading capabilities.
  • Low forex trading fees.
  • No inactivity fee.
  • Tiered pricing structure with reduced commission rates as trade volume increases.
  • Significantly lower margin rates compared to competitors.
  • Institutional-level order execution and routing.
  • Multiple account types, including individual, joint, tax-efficient, and institutional accounts.
  • Multi-lingual and multi-currency support for international clients.
  • Free professional-grade research resources and tools.
  • Comprehensive educational hub (IBKR Campus) with free access to structured courses, webinars, and expert market insights.

Cons

  • Platform complexity can overwhelm beginners.
  • Its complex pricing structure may confuse beginners.
  • Its tiered pricing structure is only suitable for high-volume traders.
  • No support for e-wallets.
  • Customer support can be inconsistent during peak hours.
Read Full Review: Interactive Brokers Review

3. Pepperstone

Pepperstone Logo

Pepperstone is a global forex and CFD broker offering over 90 currency pairs as well as CFDs on indices, commodities, and cryptocurrencies. The broker offers an intuitive and user-friendly web and mobile trading platform along with integration to TradingView, MetaTrader 4, MetaTrader 5, and cTrader.

What sets Pepperstone apart is its low-latency execution, low cost, deep liquidity, flexible platform options, and adequate algorithmic trading support. The platform is ideal for active and algorithmic traders who demand low spreads, fast execution, and an automation-friendly infrastructure.

Pepperstone Overview

Estabished2010
HeadquatersMelbourne, Australia.
RegulationASIC (Australia), FCA (UK), CySEC (Europe), DFSA (UAE), BaFin (Germany), SCB (Bahamas), and CMA (Kenya).
ProductsCFDs on forex, shares, ETFs, indices, commodities, currency indices, dividends for index, dividends for shares, cryptocurrencies, and CFD Forwards.
Forex OfferingForex CFDs
Currency Pairs90+ currency pairs including majors, minors, crosses, exotics, and NDF.
Maximum LeverageRetail – 1:30
Professional – Up to 1:500
PlatformPepperstone Web Platform, Pepperstone Mobile App, TradingView, MetaTrader 4, MetaTrader 5, and cTrader.
Trading ToolsPepperstone API, SmartTrader Tools for MetaTrader, and cTrader Automate, cTrader Copy, Signal Start, and MT4 Signals.
Payment MethodsWire Transfer, Credit and Debit Card (Visa and Mastercard), Apple Pay, Google Pay, Neteller, Skrill, PayPal, Poli Transfer, Flutterwave, MPESA, ZotaPay, PIX Transfer, SPEI Transfer, and Local Payment Methods (varies by country).
Account Minimum$0
Account Base CurrenciesUSD, GBP, EUR, AUD, JPY, CAD, CHF, NZD, SGD, and HKD.
Rating4.6/ 5
Forex FeesUltra-low spreads (from 0.0 pips) and low commission
Ideal ForActive Traders (scalpers, day traders, swing Traders) and algorithmic traders.

Pros

  • Strong global regulatory framework.
  • Fast and digital account opening.
  • Low minimum deposit requirements.
  • Multiple fast and secure payment methods.
  • Over 190+ currency pairs, including majors, minors, crosses, exotics, and NDF.
  • Deep liquidity.
  • Multiple trading platforms, including TradingView, MT4, MT5, and cTrader.
  • Adequate support for algorithmic trading.
  • Low forex trading fees.
  • No inactivity fee.
  • Excellent execution speeds with low-latency infrastructure.
  • No restrictions on trading styles, such as scalping or hedging.
  • Supports copy trading via cTrader Copy, MetaTrader Signals, Signal Start, Myfxbook, and DupliTrade.
  • Multi-lingual and multi-currency support for international clients.
  • Excellent 24/7 customer service.

Cons

  • Limited product range.
  • Limited fundamental research and in-house tools.
  • High leverage options are not available in all jurisdictions.
  • Educational content could be improved for true beginners.

4. Forex.com

Forex.com Logo

Forex.com is a well-established forex and CFD broker, offering over 80 currency pairs along with indices, commodities, and crypto CFDs. The broker provides an advanced and user-friendly web and mobile trading platform, as well as integration with third-party trading platforms, including TradingView, MetaTrader 4, and MetaTrader 5.

Forex.com stands out with its well-rounded brokerage offerings, including flexible platform options, fast execution, comprehensive education, essential in-house trading tools, quality research resources, deep liquidity, and competitive pricing. The platform is ideal for beginners, professionals, and active traders.

Forex.com Overview

Estabished2001
HeadquatersNew Jersey, United States.
RegulationNFA (US), CFTC (US), CIRO (Canada), FCA (UK), ASIC (Australia), SFC (Hong Kong), FSA (Japan), and MAS (Singapore).
ProductsForex and CFDs (on Indices, stocks, cryptocurrencies, and commodities).
Forex OfferingForex CFDs
Currency Pairs80 currency pairs including major, minor, and exotic pairs.
Maximum LeverageRetail – 1:30
Professional – 1:200
US – 1:50
PlatformForex.com mobile app, Forex.com Web Trader, TradingView, MetaTrader 4, and MetaTrader 5.
Trading ToolsCapitalise.ai, NinjaTrader, REST API, MetaTrader Expert Advisor, MetaTrader VPS Hosting, Performance Analytics, Trader Sentiment, Trading Central, Pivot Points, Currency Converter, Margin and Pip Calculator, and Economic Calendar.
Payment MethodsBank Transfer, Credit and Debit Cards, Skrill, and Neteller.
Account Minimum$100
Account Base CurrenciesEUR, USD, GBP, PLN, CHF, and SGD.
EU – EUR, USD, GBP, PLN
Rating4.5/ 5
Forex FeesStandard Account – Low spreads from 1.0 pip
Raw Pricing Account – Ultra Low spreads from 0.0 pip
Ideal UsersBeginners, professionals, and active traders.

Pros

  • Strong global regulatory framework.
  • Fast and digital account opening.
  • Over 80 currency pairs, including major, minor, and exotic pairs.
  • Deep liquidity.
  • Supports multiple trading platforms, including MetaTrader 4, MetaTrader 5, and TradingView.
  • Low forex trading fees.
  • Quality education and market research resources.
  • Multi-lingual and multi-currency support for international clients.
  • Excellent customer support.

Cons

  • Limited product range.
  • Charges an inactivity fee of $15 (or currency equivalent) after 12 months of account inactivity.

5. Exness

Exness Logo

Exness is a global forex and CFD broker offering over 100 currency pairs and CFDs on stocks, indices, commodities, and cryptocurrencies. The platform provides a user-friendly web and mobile trading interface, along with seamless integration with MetaTrader 4 and 5.

Exness stands out with its high leverage options (up to 1:Unlimited), low minimum deposit, fast execution, tight spreads, and instant withdrawal systems. The platform is ideal for beginners, professionals, active traders, and high-risk traders looking to maximize capital efficiency using high leverage.

Exness Overview

Estabished2008
HeadquatersLimassol, Cyprus.
RegulationFCA (UK), CySEC (EEA), JSC (Middle East), FSCA (South Africa), CMA (Kenya), FSC (Mauritius), FSC (BVI), CBCS (Curacao and Sint Maarten), and FSA (Seychelles).
ProductsCFDs on forex, stocks, indices, commodities, and cryptocurrencies.
Forex OfferingForex CFDs
Currency Pairs72 Currency Pairs, including major, minor, and exotic pairs.
Maximum Leverage1:Unlimited (might vary by region)
PlatformExness Terminal, Exness Trade App, MetaTrader 4 and MetaTrader 5.
Trading ToolsAnalytics Tools, Economic Calendar, Trading Signals, Market News, Trading Calculator, Currency Converter, and VPS Hosting.
Payment MethodsBank transfers, credit and debit cards, e-wallets (Skrill, Neteller etc), cryptocurrencies (BTC, USDT, USDC), and local payment methods (varies by country).
Account Minimum$10
Account Base CurrenciesAED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MBT, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, and ZAR.
Rating4.4/ 5
Forex FeesStandard Account – Low spreads from 0.2 pips
Professional Account – Ultra-low spreads from 0.0 pips
Zero Account – Ultra-low spreads from 0.0 pips + Commission from $0.05 (each side per lot)
Raw Spread Account – Ultra-low spreads from high $3.50 pips + Commission from $0.05 (each side per lot)
Ideal UsersHigh risk traders, Scalpers, day-traders, and algotraders.

Pros

  • Strong regulatory framework.
  • Fast and digital account opening.
  • Low minimum deposit of $10.
  • Multiple fast and secure payment methods.
  • Offers the highest leverage in the forex trading industry.
  • Instant withdrawal processing on most payment methods.
  • Over 72 currency pairs, including major, minor, and exotic pairs.
  • Deep liquidity.
  • User-friendly web and mobile platforms with integration to MT4 and MT5.
  • Low forex trading fees.
  • No inactivity fee.
  • No withdrawal fee.
  • Fast order execution and low-latency infrastructure.
  • Supports social trading via Exness Copy Trading.
  • Multi-lingual and multi-currency support for international clients.
  • Excellent customer support service, available 24/7.

Cons

  • Limited product range.
  • High leverage could be risky for new users.
  • Educational resources are limited.

6. XM

XM Logo

XM is a well-known forex and CFD broker that offers over 55 currency pairs, along with CFDs on indices, stocks, commodities, and cryptocurrencies. It supports both MetaTrader 4 and 5 and has a low minimum deposit of just $5.

XM stands out for its low minimum deposit requirements, micro accounts, fast order execution, and competitive pricing. In addition, it provides generous bonuses, regular webinars, and educational resources tailored for beginners, intermediate, and professional traders.

XM is ideal for new traders and those with limited capital who wish to start small and gradually increase their investment. The platform offers a scalable infrastructure, along with strong customer support and comprehensive educational training resources.

XM Overview

Estabished2009
HeadquatersBelize City, Belize.
RegulationCySEC (EEA), FSCA (South Africa), FSA (Seychelles), FSC (Belize), and FSC (Mauritius).
ProductsCFDs on forex, stocks, indices, commodities, and cryptocurrencies.
Forex OfferingForex CFDs
Currency Pairs55 Currency pairs, including major, minor and exotic pairs.
Maximum Leverage1:1000
PlatformXM App, MetaTrader 4, and MetaTrader 5.
Trading ToolsForex Calculators, Reuters News, Daily Market Analysis, Technical Insight, Economic Insight, Crowd Insight, Technical Views, Strategy Builder, TC Newsdesk, XM Podcast, XM TV, TC Market Buzz, Fundamental Buzz, and Featured Ideas.
Payment MethodsBank transfers, credit and debit cards, e-wallets, and local payment methods (vary by country).
Account Minimum$5
Account Base CurrenciesUSD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, and SGD.
Rating4.3/ 5
Forex FeesStandard Account – Average spreads from 1.6 pips
Ultra Low account – Low spreads from 0.8 pips
Zero Account – Ultra-low spreads from 0.0 pips
Ideal UsersBeginners, professionals, and low-capital traders.

Pros

  • Strong regulatory framework.
  • Fast and digital account opening.
  • Low minimum deposit of $5.
  • Multiple fast and secure payment methods.
  • Supports MT4 and MT5 trading platforms.
  • User-friendly mobile interface through the XM App.
  • Low forex trading fees.
  • Fast order execution.
  • Offers bonuses, promotions, and loyalty rewards.
  • Wide asset offering including stocks and commodities.
  • Comprehensive educational content and webinars.
  • Islamic account options are available.
  • Excellent multilingual customer support.

Cons

  • Limited product range.
  • No proprietary platform with advanced features.
  • High leverage could be risky for new users.
  • Bonuses are not available in all regions.
  • Charges an inactivity fee of $5 (or currency equivalent) after 12 months of account inactivity.

7. eToro

Etoro Logo

eToro is a globally recognised online broker that combines traditional investing with CFD trading. The platform offers CFDs ( on currencies, stocks, ETFs, indices, cryptocurrency, and commodities), stocks, and cryptocurrencies. It supports trading in over 55 currency pairs.

eToro’s biggest strength is its social and copy trading features, allowing users to replicate the trades of successful investors within a community of over 30 million active users. The broker is ideal for beginners and passive investors, and those who want to trade socially or passively by copying top-performing traders without deep technical knowledge.

eToro Overview

Estabished2007
HeadquatersTel Aviv, Israel
RegulationFINRA(US), SEC (US), FCA (UK), CySEC (Europe), ASIC (Australia), SFSA (Seychelles), and FSRA (UAE)
ProductsStocks, crypto, CFDs ( on currencies, stocks, ETFs, indices, cryptocurrency, and commodities)
Forex OfferingForex CFDs
Currency Pairs56 Currency pairs, including major, minor, and exotic pairs.
Maximum LeverageRetail – 1:30
Professional/ Offshore – 1:400
PlatformeToro Web Trading Platform and eToro Mobile App.
Trading ToolsCopy Trader and Economic Calendar.
Payment MethodseToro Money, Credit/Debit Card (Visa, Mastercard, Maestro), Bank Transfer, PayPal, NETELLER, Skrill, Online Banking (Trustly), iDEAL, and Przelewy24.
Account Minimum$50
Account Base CurrenciesUSD, GBP, and EUR.
Rating4.2/ 5
Forex FeesAverage spreads from 1 pip.
Ideal UsersBeginners and Passive Investors.

Pros

  • Strong regulatory framework.
  • Fast and digital account opening.
  • Intuitive and beginner-friendly web and mobile trading platforms.
  • Multiple fast and secure payment methods.
  • Social and copy trading functionality.
  • A large and active social community with over 30 million users and an integrated social feed.
  • Transparent trader statistics for copy trading.
  • Demo account with $100,000 in virtual funds for paper trading.

Cons

  • Limited tools for advanced technical traders.
  • No support for third-party trading platforms.
  • Average spreads on forex pairs.
  • $5 withdrawal fee.
  • High currency conversion fee.
  • A $10 inactivity fee applies to accounts with no logins in the previous 12 months.
  • No phone support for customer service.
Read Full Review: eToro Review

Conclusion

Choosing the right broker depends on your trading needs, including your trading style, budget, and level of experience. Use this guide to match a broker’s strengths to your trading needs. By aligning your trading needs with a broker’s strengths, you position yourself for a sustainable trading journey.