Forex Reviews (CFDs)

With hundreds of online trading providers to choose from, selecting the right one can be both challenging and time consuming. To simplify the process we’ve tested and reviewed dozens of the brokers, and created a list of top brokers. Use our list to make a comfortable and informed decision.

Badge Nr 1
Most Popular

Xtrade

  • Regulation: ASiC, CySEC
  • Accepts US Clients: No
  • Min. Deposit: $100
  • Leverage: Shares Up to 1:200, Forex Up to 1:400, Indices Up to 1:200; Commodities Up to 1:200
  • Platforms: No-download Web trader, iPhone and iPad App, Android App, Windows Phone App
Details

Account Types

XTrade offers 2 types of trading accounts:

  1. Standard
  2. Premium

Customer Service

The client support team is available 24 hours a day, 6 days a week live chat, email or phone.

Funding Methods

Clients may fund their trading account using Credit Cards, PayPal, MoneyGram, Poli, CashU, Skrill and others.

Pros

  • Demo Practice Account
  • High Leverage of 400:1
  • Fixed Spreads, No Commissions

Cons

  • Lengthy withdrawal process

Conclusion

With their low minimum deposit requirement, XTrade has made it extremely affordable to trade the financial markets. In addition, the comprehensive education offered helps to ensure novices are better equipped to make informed trading decisions.

Badge Nr2
Most Popular

Plus500

  • Regulation: FCA
  • Accepts US Clients: No
  • Min. Deposit: £300.00
  • Leverage: Shares Up to 1:200, Forex Up to 1:50, Indices Up to 1:200; Commodities Up to 1:200
  • Platforms: No-download Web trader, iPhone and iPad App, Android App, Windows Phone App
Details

Account Types

Plus500 offers 2 account options:

  1. Demo account
  2. Live account

Customer Support

Plus500 offers e-mail and fax support in multiple languages 24/7.

Funding Methods

Funding methods include: Visa or MasterCard credit card, MoneyBookers or through a wire transfer.

Pros

  • Strong financial backing of $17 billion
  • $5,000 First Time Deposit Bonus
  • Multiple funding methods

Cons

  • Not enough educational tools

Conclusion

New traders can take advantage of the unlimited time to use the demo account, while seasoned traders can take advantage of tight dealing spreads and the generous bonuses offered when initially funding the account.

Badge Nr3
Most Popular

FXCM

  • Regulation: ASiC, BaFin, CFTC, CONSOB, FCA, FCM, NFA, RFED, SFC
  • Accepts US Clients: Yes
  • Min. Deposit: $2000
  • Leverage: 50:1
  • Platforms: Active Trader, MetaTrader 4, Mirror Trader, Trading Station Gateway, Trading Station II
Details

Trading Accounts

FXCM offers 3 types of trading accounts:

  1. Micro
  2. Mini
  3. Standard

Customer Service

There is a live chat feature, phone customer service, email, fax, and a trading desk phone number to call. There are toll-free and international numbers available to traders around the globe.

Funding Methods

Deposits are accepted via credit/debit card, wire transfer, ACH and check. Withdrawals can be made via credit/debit card, wire transfer or check.

Pros

  • Variable spreads. This keeps the spread tight, which is one of your biggest expenses as a trader.
  • The Trading Station II platform is well-known and reliable. It has been being used for years, and is very stable.
  • Accounts can be started with as little as $50.

Cons

  • Limited trading assets
  • Limited promotions

Conclusion

The very fact that this company is not only regulated, but listed on the NYSE shows that it is a serious company. The beauty of trading with this dealer is that there is no dealing desk intervention, and the spreads are great. While perhaps not the best news trading source, (no variable spread broker is) for the typical trader, the cost of execution will be tiny.

Most Popular

iForex

  • Regulation:
  • Accepts US Clients: No
  • Min. Deposit: $100
  • Leverage: 400:1
  • Platforms: iPhone App , MetaTrader 4 , Trade Desk , Web Trading
Details

Trading Accounts

Basically, there are 4 types of trading accounts at iForex.

  1. Interest-Free Account (Islamic Account)
  2. Premium Account
  3. Protected Account
  4. Standard Account

Commission & Spreads

The broker is not transparent with the spreads that they are charging their traders.

Customer Support

Customer support is available 24/5 at iForex through Email, Fax, Live Chat, and Phone.

Pros

  • Different types of platforms provided
  • Negative balance protection
  • Remote technical assistance available

Cons

  • No Demo Account
  • Charge traders $100 to try out the platform

Conclusion

We feel that traders are much better served by brokers which are more transparent and are willing to provide a free demo account.

Badge nr5
Most Popular

eToro

  • Regulation: ASiC, CFTC, CySEC, FCA, MiFID, NFA
  • Accepts US Clients: No
  • Min. Deposit: $50
  • Leverage: 400:1
  • Platforms: eToro Mobile Trader, etoro Openbook, eToro webTrader
Details

Trading Accounts

eToro offers 4 main types of trading accounts:

  1. Bronze Trading Account
  2. Silver Trading Account
  3. Gold Trading Account
  4. VIP Trading Account

Customer Service

Customer support is provided through live chat, email or through the phone.

Deposits and Withdrawals

Funding methods include: Credit/Debit cards, Moneybookers, Neteller, Paypal, Web Money, Western Union, and Wire Transfer.

Pros

  • Real Time Trading
  • Low minimum deposit
  • Social Trading

Cons

  • Scalping not allowed

Conclusion

eToro is a highly recommended social trading network, especially for beginner forex traders and investors.

Markets

  • Regulation: CySec, FSB & ASIC
  • Accepts US Clients: No
  • Min. Deposit: $100
  • Leverage: 200:1
  • Platforms: GFC Trader; MetaTrader4
Details

Trading Accounts

There are 3 types of trading accounts at Markets.com

  1. Mini account
  2. Standard account
  3. Premium account

Deposits/Withdrawals

Markets.com accepts a wide variety of payment methods, such as credit/ debit card (Visa, MasterCard or Diners Club), wire transfer, WebMoney and local payment methods.

Customer Support

Markets.com offers an excellent support service with employees responding to calls 24 hours a day during the week in multiple languages. Email is also available as is live chat in over 15 languages.

Pros

  • $2,000 First Time Deposit Bonus
  • Demo account available
  • Education

Cons

  • Lengthy withdrawal process

Conclusion

The firm stands out as a broker regulated by two separate and credible EU authorities. Markets.com is a suitable choice, if your main desire is trading with a highly regulated, visible company.

Avatrade

  • Regulation: ASiC, Central Bank of Ireland, FSA
  • Accepts US Clients: No
  • Min. Deposit: $100
  • Leverage: 400:1
  • Platforms: ACT, Autotrader, AVA mobile trader, MetaTrader 4
Details

Account Types

AvaTrade provides 3 different types of accounts.

  1. Silver Account
  2. Gold Account
  3. Platinum Account

Customer Service

AvaTrade is available by Live Chat, Email, or Telephone. The website supports multiple languages including: Arabic, Chinese, Dutch, English, French, German, Italian, Japanese, Portuguese, Russian, Spanish

Funding Methods

Funding methods include: Credit/Debit cards, Moneybookers, NETELLER, Paypal, Web Money, Western Union, and Wire Transfer.

Pros

  • Attractive Promotion and Bonuses Offered
  • Comprehensive Educational Resources
  • Free Demo Account

Cons

  • No deposit bonus offer

Conclusion

When trading with Ava, you can trade with a peace of mind. The broker is regulated across the globe and are well-funded to cover s big and small trade.

Ufx

  • Regulation: CySEC, NFA
  • Accepts US Clients: No
  • Min. Deposit: $500
  • Leverage: 200:1
  • Platforms: Web based - MT4 , ParagonEX
Details

Account Types

UFXMarkets processes thousands of transactions monthly and is considered a trust worthy dealer in the FX world. Account types include:

  1. Mini Account
  2. Vip Account

Customer Service

There is a dealing desk number to call in the case of trade issues, and the customer service is available during normal FX trading hours.

Commissions and Spreads

UFXMarkets has fixed spreads, but they are tiered depending on the size of your account.

Funding Methods

Funding methods include: Credit Cards, Wire Transfer, Paypal, MoneyBookers, Diners Club, NeTeller, MoneyBookers and WebMoney.

Pros

  • Fixed spreads. This allows traders the upfront knowledge of trading conditions.
  • Commodities are available for trading.
  • The MetaTrader 4 platform is well-known and reliable. It has been being used for years, and is very stable.
  • Accounts can be started with as little as $100.

Cons

  • Americans are not allowed to trade with this dealer.
  • Not enough promotions and bonuses

Conclusion

If you seek the edge in terms of competence, respect to the client and beginner support, UFX Bank may well be the suitable choice for you. The firm is very flexible in responding to client demands and it is a great idea to visit the website.

Easy Forex

  • Regulation: ASiC, CFTC, CySEC
  • Accepts US Clients: No
  • Min. Deposit: $25
  • Leverage: 400:1
  • Platforms: iPhone App, MetaTrader 4, Trade Desk, Web Trading
Details

Account Types

Easy Forex Account types include:

  1. Mini Account
  2. Vip Account
  3. Islamic Account
  4. Managed Accounts

Customer Service

The customer service staff is available via email, and is available 24 hours a day during the Forex sessions.

Commissions and Spreads

Easy-Forex has fixed spreads, which allows traders to know the cost of placing an order ahead of time.

Deposits and Withdrawals

Funding methods include: Credit Cards, Wire Transfer, Paypal, MoneyBookers, Diners Club, NeTeller, MoneyBookers and WebMoney.

Pros

  • Fixed spreads in all markets traded. This keeps the spread tight, which is one of your biggest expenses as a trader and allows you to news trade effectively.
  • Forex and Commodities available for trading.
  • Accounts can be started with as little as $25.

Cons

  • Not enough promotions and bonuses

Conclusion

Easy-Forex is a well-rounded dealer. The MT4 platform is the best-known and most widely used software in the FX world.

FXCC

  • Regulation: CySec, FSA, MiFid, ICF
  • Accepts US Clients: No
  • Min. Deposit: $100
  • Leverage: 1:300
  • Platforms: Mobile, Web, Download
Details

Account Types

FXCC offers 3 types of accounts: a standard account type, XL account and advanced account.

Customer Service

Customer support is available 24 hours, 5 days a week in a multitude of languages. All inquiries are handled in a timely manner via live chat, email, or phone service.

Funding Methods

Traders can deposit their funds by using bank wire transfer, credit/debit card, Skrill, Neteller and Web Money.

Pros

  • 28 currency pairs
  • Extremely quick execution of trades
  • Free real-time FX news

Cons

  • Does not accept US clients

Conclusion

FXCC has a reputable appearance in market with very low spreads along with exceptionally fast execution makes them the number one choice.

ETX Capital

  • Regulation: FCA
  • Accepts US Clients: No
  • Min. Deposit: $100
  • Leverage: Forex Up to 1:400, others: 100:1
  • Platforms: Mobile, Web
Details

Account Types

There is only one standard account at ETX Capital with a minimum deposit of $100. There is no maximum trade; the payout can go as high as 85%.

Customer Service

The client support team is available 24 hours a day, 5 days a week live chat, email or phone.

Funding Methods

Traders can deposit funds by using Credit Cards, MoneyBookers, Wire Transfer, Neteller, and other popular payment methods.

Pros

  • Multiple Platforms
  • Low fixed spreads
  • Advanced Tools

Cons

  • Only one account available

Conclusion

If you are looking for low spreads, decent bonuses and wide selection of instruments, give EFX Capital a try. You will find a wide range of trading assets such Wall Street, the UK 100, France 40, and others.

OctaFX

  • Regulation: FCA, IFSA
  • Accepts US Clients: No
  • Min. Deposit: $50
  • Leverage: 1:500
  • Platforms: Mobile, Web
Details

Account Types

There are three types of trading accounts provided by OctaFX–the MetaTrader4 Micro, the MetaTrader4 ECN and ctrader ECN accounts.

Customer Service

Customer service is provided 24/5 by chat, email and phone.

Funding Methods

Funds can be deposited into OctaFX accounts via bank transfers, credit cards, Neteller, Skrill, Easypay and other online payment methods.

Pros

  • Islamic account available
  • Low fixed spreads
  • 50% bonus on first deposits

Cons

  • No charts

Conclusion

Those who are searching for a reliable and efficient Forex broker will be satisfied with this provider. There is a choice of different account types, several platforms including the popular MT4 platform and several unique trading tools.

Oanda

  • Regulation: CFTC, FCA, NFA, ASIC, IIROC
  • Accepts US Clients: Yes
  • Min. Deposit: $1
  • Leverage: 1:48
  • Platforms: Mobile, Web
Details

Account Types

OANDA offers a standard account and a demo account for new traders.

Customer Service

Traders can contact support by email, chat during local trading hours and by posting a question online.

Funding Methods

Deposits can be made by check, PayPal, Bank wire or Credit Card.

Pros

  • Accepts US customers
  • Regulated in 6 different countries
  • No minimum deposit

Cons

  • Only 1 type of Account

Conclusion

Those who are looking for a reliable and efficient Forex broker will be satisfied with this provider. This broker offers a full line of products and services and is highly regulated. The website is easily navigated and opening an account is straight forward and can be done quickly.

Hot Forex

  • Regulation: FSC, CySEC
  • Accepts US Clients: No
  • Min. Deposit: $5
  • Leverage: 1000:1, 400:1, and 300:1
  • Platforms: MT4, No-download Web trader, Mobile Trading
Details

Account Types

Hot Forex offers 3 standard accounts:

  1. Micro ($5 – $499, Leverage 1000:1);
  2. Premium ($500 – $39,999, Leverage 400:1);
  3. 3. VIP (Over $40,000, Leverage 300:1);

Customer Service

Support available 24/5 in 12 languages.

Funding Methods

HotForex accepts all major credit and debit cards, bank wire transfers, and additional services like CashU, Skrill (Moneybookers), Neteller, Ukash, and Webmoney.

Pros

  • Tight Spreads from as low as 0.2
  • Flexible leverage up to 1:1000
  • 24/5 dedicated support

Cons

  • Does not accept US clients

Conclusion

New traders can take advantage of the demo account, while seasoned traders can take advantage of tight dealing spreads and the generous bonuses offered when initially funding the account.