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The Best Forex Brokers in 2024

An Overview of the Best Forex Brokers in 2024

Here, you can learn more about the features of our top-rated Forex brokers.

BrokerMinimum DepositFX Commission Per LotCurrency PairsCredit/Debit CardTime to Open an Account
Saxo$0 No commission is charged190Yes1 day
Interactive Brokers$0 $2.00 commission per lot per trade100+No 1-3 days
Fusion Markets$0 $2.25 commission per lot per trade90Yes1 day
Pepperstone$0 $3.50 commission per lot per trade90+Yes1 day
IG$0 No commission is charged80+Yes1-3 days
FOREX.com$100 No commission is charged80+Yes1-3 days
CMC Markets$0 No commission is charged300+Yes1-3 days
FP Markets$50 $3.00 commission per lot per trade70Yes1 day
City Index$0 No commission is charged84+YesI day
XM$5 $3.50 commission per lot per trade on XM Zero accounts50+Yes1 day

Comparison of Forex Spreads

The fees associated with a trade, such as spreads, commissions, and other trading costs, are crucial when choosing a broker. To help you make an informed decision, we have compiled a table below showcasing the most important forex spreads.

BrokerEUR/USD SpreadGBP/USD SpreadAUD/USD SpreadEUR/CHF SpreadEUR/GBP Spread
Saxo0.81.20.81.21.0
Interactive Brokers0.20.40.30.50.3
Fusion Markets0.00.00.00.20.0
Pepperstone0.10.20.20.40.3
IG0.60.90.92.00.9
FOREX.com1.21.51.21.91.2
CMC Markets0.70.90.72.51.1
FP Markets0.10.20.20.40.2
City Index1.12.01.12.41.6
XM0.10.80.82.41.9

Non-trading fees at the Best Forex Brokers

Non-trading fees are charges that are not directly tied to individual trades. These typically include account maintenance, deposit/withdrawal fees, and inactivity fees. The table below provides information on the non-trading fees of the top forex brokers, helping you make an informed choice.

BrokerAccount FeeDeposit FeeWithdrawal FeeInactivity Fee
SaxoNo$0 $0 No
Interactive BrokersNo$0 $0 No
Fusion MarketsNo$0 $0 No
PepperstoneNo$0 $0 No
IGNo$0 $0 No
FOREX.comNo$0$0 Yes
CMC MarketsNo$0$0Yes
FP MarketsNo $0 $0 No
City IndexNo$0$0Yes
XMNo$0 $0 Yes

Can I Trust These Forex Brokers?

Can I trust these forex brokers? The answer depends on several factors: the regulatory oversight of the brokers, the protections available to investors, and the brokers’ track records. The information provided below will help you assess their reliability.

BrokerEstablishment YearTop-tier RegulatorsInvestor ProtectionInvolved in the scandal
Saxo1992FSA in Denmark, FCA in the UK, FINMA in Switzerland and ASIC in Australia$100k cash and €20k securities to most EU clients.No
Interactive Brokers1978FCA in the UK, SEC in the US, and ASIC in Australia$500k (up to $250k on cash) to US clients. No
Fusion Markets2010ASIC in Australia, VFSC in the VanuatuNo investor protectionNo
Pepperstone2010ASIC in Australia, FCA in the UK, and BaFin in Germany£85k to the UK and €20k to EU clients, $0 to othersNo
IG1974FCA in the United Kingdom, BaFin in Germany, ASIC in Australia, NFA in the United States, FINMA in Switzerland, MAS in Singapore, DFSA in the United Arab Emirates, FSCA in South Africa, JFSA in Japan£85k to UK, €20k to EU clients, CHF 100k to Swiss, and $0 to other clientsNo
FOREX.com2001FCA in the UK and CFTC, NFA in the US£85k to UK and EU clientsNo
CMC Markets1989FCA in the UK, CIRO in Canada, and ASIC in Australia£85k to UK clients, €20k to EU, CAD 1mn to Canadian, $0 to other clientsNo
FP Markets2005ASIC in Australia, CySEC in the EU€20k to EU clients, $0 to othersNo
City Index1983FCA in the UK and ASIC in Australia£85k to UK clients and $0 to othersNo
XM2009CySEC in EEA countries, ASIC in Australia, DFSA in the Middle East, and IFSC and FCA in the rest of the world€20k to EEA countries clients, $0 to othersNo

The Best Forex Brokers Snapshot

SAXO Bank
SAXO Bank
Mobile App Score5.0
Minimum Deposit$0
Currency Pairs190
Deposit MethodsBank transfer, Credit/debit cards
Withdrawal MethodsBank transfer
Time to Open an Account1 day
Demo AccountYes
Customer ServicesAvailable 24/5 via live chat, phone, and email
Interactive Brokers
Interactive Brokers
Mobile App Score5.0
Minimum Deposit$0
Currency Pairs100+
Deposit MethodsBank transfer
Withdrawal MethodsBank transfer
Time to Open an Account1-3 days
Demo AccountYes
Customer ServicesAvailable 24/5 via live chat, phone, and email
Fusion Markets
Fusion Markets
Mobile App Score4.8
Minimum Deposit$0
Currency Pairs90
Deposit MethodsVisa, MasterCard (credit & debit), PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Cryptos or bank wire
Withdrawal MethodsBank Wire, Credit or Debit Card, Skrill and Neteller
Time to Open an Account1 day
Demo AccountYes
Customer ServicesAvailable 24/5 via live chat, phone, and email
Pepperstone
Pepperstone
Mobile App Score4.7
Minimum Deposit$0
Currency Pairs90+
Deposit MethodsCredit/debit card, PayPal, Neteller, Skrill, Poli, wire transfer
Withdrawal MethodsCredit/debit card, PayPal, Neteller, Skrill, Poli, wire transfer
Time to Open an Account1 day
Demo AccountYes
Customer ServicesAvailable 24/5 via live chat, phone, and email
Mobile App Score5.0
Minimum Deposit$0
Currency Pairs80+
Deposit MethodsWire Transfer, Debit Card, Credit Card, PayPal, Visa, Mastercard
Withdrawal MethodsWire Transfer, Debit Card, Credit Card, PayPal, Visa, Mastercard
Time to Open an Account1-3 days
Demo AccountYes
Customer ServicesAvailable 24/5 via live chat, phone, WhatsApp, and email
FOREX.com
FOREX.com
Mobile App Score5.0
Minimum Deposit$0
Currency Pairs80+
Deposit MethodsCredit/debit card, wire transfer, PayPal
Withdrawal MethodsCredit/debit card, wire transfer, PayPal
Time to Open an Account1-3 days
Demo AccountYes
Customer ServicesAvailable 24/5 via live chat, phone, email, and fax
CMC Markets
CMC Markets
Mobile App Score4.9
Minimum Deposit$0
Currency Pairs300+
Deposit MethodsCredit/debit card, PayPal, Bank transfer
Withdrawal MethodsCredit/debit card, PayPal, Bank transfer
Time to Open an Account1-3 days
Demo AccountYes
Customer ServicesAvailable 24/5 via live chat, phone, and email
FP Markets
FP Markets
Mobile App Score4.9
Minimum Deposit$50
Currency Pairs84+
Deposit MethodsCredit/debit cards, bank wire transfers, and e-wallets
Withdrawal MethodsCredit/debit cards, bank wire transfers, and e-wallets
Time to Open an AccountI day
Demo AccountYes
Customer ServicesAvailable 24/7 via live chat, phone, and email
CITY INDEX
CITY INDEX
Mobile App Score4.7
Minimum Deposit$0
Currency Pairs84+
Deposit MethodsBank Transfer, Debit/Credit Cards, E-Wallets
Withdrawal MethodsBank Transfer, Debit/Credit Cards, E-Wallets
Time to Open an AccountI day
Demo AccountYes
Customer ServicesAvailable 24/5 via live chat, phone, and email
Mobile App Score4.7
Minimum Deposit$0
Currency Pairs50+
Deposit MethodsCredit and debit cards, bank transfers, e-wallets, and many more.
Withdrawal MethodsCredit and debit cards, bank transfers, e-wallets, and many more.
Time to Open an Account1 day
Demo AccountYes
Customer ServicesAvailable 24/7 via live chat, phone, and email

Methodology

To choose the best Forex broker, we thoroughly check, verify, and compare the elements that we consider to be the most important to consider when choosing an excellent broker. This includes the benefits, drawbacks, and overall grades determined by our research. Our goal is to help you find the ideal broker for your investor needs. You can read more about our methodology by visiting this page.

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