● UPDATED: December 2025 |
● REVIEWED BY: FOREX VITALS TEAM
This page is designed to help you narrow down reputable, well-known forex/CFD brokers
based on where you live, how you trade, and your experience level. Availability, leverage and products
can vary a lot from one country or regulator to the next, so treat this as a starting point for your
own due diligence.
Risk & content disclaimer:
Trading forex and CFDs is high risk and may not be suitable for all investors. The information on this page
is for general information only and does not constitute investment advice, tax advice, or a
recommendation to trade with any particular provider. Broker availability, account features, leverage and any
promotional offers vary by country, regulator and over time. Always check the broker's own website, legal
documents and risk disclosures before you act.
Filter brokers by where you live
Enter your country (for example United States, Germany, South Africa) and
optionally choose your experience level and maximum minimum deposit. We'll hide brokers that are unlikely
to fit your situation. Always confirm on the broker's site whether they currently accept residents of your
specific country.
*“Typical regions” are based on how these brokers commonly position themselves and may not reflect
current restrictions for your specific country. Each broker can change its coverage, leverage and product list at
any time - always verify details directly with the broker.
Detailed broker reviews
OANDA
Long-standing, regulation-first broker with a conservative approach and simple cost structure.
OANDA has been in the FX space for decades and is best known for its strong regulatory footprint
and straightforward pricing. It often appeals to traders who care more about safety, simplicity
and good execution than maximum leverage or aggressive promotions.
Best for: US and Canadian traders, and anyone globally who wants a conservative,
highly regulated broker with reasonable spreads and no gimmicks.
Strengths
Excellent regulatory coverage across multiple top-tier jurisdictions.
Transparent pricing and sensible leverage in most entities.
Solid platforms, especially when combined with TradingView charting.
Long track record and strong brand recognition in FX.
Weaknesses
Leverage is deliberately conservative compared with offshore brokers.
Product range can be narrower than multi-asset giants in some regions.
Not focused on high-leverage or bonus-driven marketing, which some traders still seek.
Promotions & bonuses:
OANDA rarely offers large trading bonuses, especially in strictly regulated regions. Any incentives
tend to be modest and fully aligned with local rules. Always rely on the official OANDA website for
the most current information.
FOREX.com is part of a large, publicly listed group and offers regulated access to FX in
multiple regions, including a dedicated US entity. Outside the US, it typically provides a
broader CFD product set alongside forex.
Best for: Traders who want a big, established brand and especially those in the US
looking for a regulated FX broker.
Strengths
Among the relatively small number of options for US retail FX traders.
Backed by a large financial group with institutional operations.
Choice of proprietary platforms and MetaTrader in many entities.
Weaknesses
US clients trade spot FX only; no CFDs by design.
Spreads can be slightly higher than ultra-low-cost ECN brokers on some pairs.
Platform UI is robust rather than ultra-modern in some regions.
Promotions & bonuses:
FOREX.com places more emphasis on regulation and brand than on large bonuses. Any promotional
offers are time-limited, region-specific and fully detailed on their website.
Large multi-asset broker with strong regulation and proprietary trading platforms.
Score 9/10
Regulation: FCA, BaFin, NFA/CFTC, ASIC, MAS and others
Typical regions: UK, EU, US (FX), APAC
Platforms: IG platform, L2 Dealer, MT4 in some entities
IG is one of the most established names in the CFD/FX industry, with top-tier regulation in
several major markets. It offers a broad range of markets including FX, indices, commodities,
shares and more.
Best for: Traders who want a very well-regulated, multi-asset broker with a strong
research and tools ecosystem.
Strengths
Outstanding regulation and long operational track record.
Deep market range, including non-FX asset classes.
Powerful proprietary platforms plus advanced order types.
Weaknesses
Pure FX scalpers may find lower raw spreads at ECN-style competitors.
Platform and product range can feel complex for brand-new traders.
Some features (for example spread-betting) are region-specific.
Promotions & bonuses:
In most major jurisdictions IG does not rely on trading bonuses, in line with regulatory
expectations. Any incentives are modest and clearly documented on their site.
Social and copy-trading broker that focuses on ease of use over raw spreads.
Score 8/10
Regulation: CySEC, FCA and others (entity-dependent)
Typical regions: EU/UK, parts of LatAm, APAC and MENA
eToro built its brand around copy trading and social features. Instead of focusing on
ultra-tight spreads, it emphasises usability, community and the ability to mirror other traders' or
portfolios' strategies.
Best for: Newer traders drawn to social and copy-trading features, who want a simple,
app-driven interface and are comfortable with CFD-type products.
Strengths
Highly polished, beginner-friendly user experience.
Copy trading and themed portfolios for hands-off users.
Large community and educational materials.
Weaknesses
Pricing is not aimed at ultra-active scalpers.
Not a classic ECN-style broker for algorithmic trading.
Product and feature availability vary strongly by region.
Promotions & bonuses:
eToro generally markets via its social features rather than classic trading bonuses. Any offers or
campaigns you see should be verified on their official website.
Multi-asset investment and trading platform aimed at more serious, well-capitalised clients.
Score 8.5/10
Regulation: Danish FSA, FCA, MAS and others
Typical regions: Europe, UK, APAC, selected global
Platforms: SaxoTraderGO / SaxoTraderPRO
Saxo is closer to a full-service investment house than a narrow FX broker. Clients can access
currencies, CFDs, stocks, ETFs, bonds, options and futures via sophisticated trading
platforms with detailed analytics.
Best for: Advanced traders and investors who value a single, high-end platform for
many asset classes and are comfortable with higher minimum deposits.
Strengths
Very wide product range and strong market access.
Professional-grade platforms and tools.
European banking background and reputation.
Weaknesses
Higher minimum deposits than most retail brokers.
Fee structure can be complex for smaller accounts.
Platform learning curve is steeper than simple CFD apps.
Promotions & bonuses:
Saxo generally does not offer classic trading bonuses. Its edge is access and platform quality
rather than incentives.
User-friendly CFD broker with its own xStation platform and strong European footprint.
Score 8/10
Regulation: KNF (Poland), FCA, CySEC, CNMV and others
Typical regions: EU/UK, selected Latin American countries
Platforms: xStation, MT4 (in some entities)
XTB is widely marketed in Europe and some LatAm countries and focuses on ease of use, education
and its proprietary xStation platform. It offers FX and CFD trading on indices, commodities,
stocks and ETFs.
Best for: Beginner and intermediate CFD traders who want a clean interface, European
regulation and integrated education.
Strengths
Very user-friendly platform with built-in education and tools.
Strong regulatory presence in Europe.
Often low or zero formal minimum deposits (region-dependent).
Weaknesses
Availability outside Europe and selected LatAm markets is limited.
Primarily CFD-focused rather than a full-service investment bank.
Ultra-active FX scalpers may find sharper pricing at ECN-style brokers.
Promotions & bonuses:
XTB's European entities rarely use classic trading bonuses due to regulation. Marketing tends to
focus on education, tools and pricing instead.
AvaTrade is a long-standing broker that emphasises platform choice and social/copy trading,
offering MT4/5 alongside its own mobile and web apps and a range of third-party integrations.
Best for: New to intermediate traders who want to experiment with different platforms
and copy/social features under a reasonably well-regulated umbrella.
Strengths
Wide selection of platforms and copy/social tools.
Multiple regulated entities, including in the EU and key EM regions.
Broad CFD product list, not just FX.
Weaknesses
Does not typically accept US residents.
Spreads are competitive but not always the lowest for very cost-sensitive scalpers.
Leverage and promotions vary substantially by entity.
Promotions & bonuses:
AvaTrade has historically used various welcome or deposit offers in some regions. These are highly
region-specific and subject to detailed terms; always confirm the latest conditions on their website.
Pepperstone started as an Australian ECN-style broker and now runs multiple entities to cover Europe,
the UK, the Middle East and parts of Africa and LatAm. Its focus is tight spreads, fast
execution and strong support for algorithmic trading.
Best for: Active day traders and system traders who value low costs and fast, reliable
fills on mainstream platforms.
Strengths
Very competitive spreads and commissions on major FX pairs.
Supports MT4, MT5, cTrader and TradingView in many regions.
High-leverage options only via certain entities and with higher risk.
Education is solid but less beginner-centric than some rivals.
Promotions & bonuses:
Pepperstone's more strictly regulated entities usually avoid aggressive bonuses. Any time-limited
rebates or offers are region-specific and should always be checked on the official site.
High-volume, low-spread ECN-style broker popular with algorithmic traders.
Score 9/10
Regulation: ASIC, CySEC, FSA (Seychelles)
Typical regions: APAC, Asia, LatAm, Africa (ex-US/CA/EU)
Platforms: MT4/5, cTrader
IC Markets focuses on very tight raw spreads and deep liquidity, making it a common
choice for scalpers, high-frequency traders and those running automated systems.
Best for: Traders who push a lot of volume and care more about execution and depth
than in-house research or education.
Strengths
Raw spread accounts with low commissions on major pairs.
Generally strong execution speeds and liquidity.
Popular among algorithmic and copy-trading communities.
Multiple account types and base currencies.
Weaknesses
Not suitable for US or Canadian residents.
Leverage and product scope differ by entity.
Less “hand-holding” for absolute beginners than some education-heavy brands.
Promotions & bonuses:
IC Markets generally emphasises pricing rather than big bonuses. Any rebates or incentives are usually
linked to specific entities or partners.
Cost-focused MT4/5 broker with a straightforward account structure.
Score 8/10
Regulation: FCA, CySEC, FSCA, FSA (Seychelles)
Typical regions: EU/UK, Asia, Africa, LatAm
Tickmill is known for competitive spreads and a minimalistic approach to platforms. It
targets traders who already know what they want and simply need low-cost execution.
Best for: Intermediate traders who prefer low costs and simple account options over
an enormous platform ecosystem.
Strengths
Low spreads and reasonable commissions on pro-style accounts.
Solid regulatory mix for EU/UK and emerging markets.
Good for straightforward MT4/5 trading.
Weaknesses
Very MetaTrader-centric; few alternative platforms.
Product list and leverage differ by entity and region.
Research and education are less extensive than some larger rivals.
Promotions & bonuses:
Tickmill has run rebates and contests via certain entities, particularly offshore. These are usually
not available in stricter regions and always carry terms.
Very tight spreads and flexible leverage via a mix of regulated and offshore entities.
Score 8/10
Regulation: CySEC, FCA, FSCA plus offshore entities
Typical regions: Focus on non-US, non-EU markets
Platforms: MT4/5, proprietary web & mobile
Exness is widely used in many emerging markets and is known for sharp pricing and flexible
trading conditions, especially where offshore entities are used. Regulated entities offer
more conservative leverage in line with local rules.
Best for: Experienced traders who understand the risks of higher leverage and want
low costs across a broad list of instruments.
Strengths
Very competitive spreads on major FX pairs.
Flexible account types, including raw-spread options.
Popular in Asia, Africa and other EM regions.
Weaknesses
Not suited to heavily regulated markets such as the US or most of the EU.
High leverage significantly increases risk if misused.
Conditions differ materially between group entities.
Promotions & bonuses:
Offshore entities may run promotions or trading credits from time to time. These are typically not
available in strict regulatory regimes and always involve specific terms.
Education-heavy broker with multiple entities and frequent marketing in emerging regions.
Score 8/10
Regulation: CySEC, ASIC, DFSA, FSC (Belize)
Typical regions: EU, MENA, APAC, Africa, LatAm
Platforms: MT4/5, in-house mobile/web
XM has a strong presence in many regions thanks to its webinars, seminars and multilingual
education. It operates both highly regulated entities and more flexible offshore entities.
Best for: Newer traders who want lots of educational content along with a standard
MT4/5 experience and micro/standard account choices.
Strengths
Extensive education and localised support.
Low minimum deposits on many account types.
Micro accounts and multiple base currencies.
Weaknesses
Promotions are tied to specific entities and may be unavailable in stricter regions.
Primarily a CFD/FX provider rather than a full-service bank.
Leverage, protections and bonuses differ by region.
Promotions & bonuses:
XM is often associated with welcome and deposit offers via certain offshore entities. These change
frequently and always have detailed conditions, so it's essential to consult the official site.
ECN-style broker with MT4/5 focus and strong presence in APAC and emerging markets.
Score 7.5/10
Regulation: ASIC plus offshore entities
Typical regions: APAC, Africa, LatAm (non-US/EU)
Platforms: MT4/5, copy/social options
Vantage provides raw-spread and standard accounts via MT4/5 and has expanded its
copy-trading and social features. It is widely marketed in APAC and several EM regions.
Best for: Intermediate traders comfortable with MT4/5 who want ECN-style accounts and
are based outside tightly regulated regions.
Strengths
Access to raw-spread accounts with competitive commission structures.
Support for copy/social trading in supported regions.
Variety of account sizes and funding options.
Weaknesses
Entity and regulation mix can be confusing for new traders.
Availability and protections differ significantly by region.
Not usually available to clients in the most tightly regulated markets.
Promotions & bonuses:
Offshore entities have historically offered various promotions, which are not generally available in
stricter regulatory regimes and always carry specific terms.
Broker with strong presence in Africa and Asia, offering flexible account types.
Score 8/10
Regulation: CySEC, FCA, FSCA and others
Typical regions: Africa, Asia, parts of the EU
Platforms: MT4/5, mobile/web portals
FXTM has built a strong following in parts of Africa and Asia, often working with localised
education and funding options. It offers cent, standard and ECN-style accounts.
Best for: Traders in its core regions who want a mix of small-ticket and advanced
account types under a relatively well-known brand.
Strengths
Flexible account types from cent to ECN-style.
Strong marketing and education in key EM regions.
Local deposit options in many countries.
Weaknesses
Some entities are less tightly regulated than EU/UK units.
Leverage and protections vary by region.
Not generally available in the US and some stricter markets.
Promotions & bonuses:
FXTM has used promotions in certain entities in the past. These are region-specific and highly
conditional; always check the official terms.
Multi-entity broker with a wide account range and strong marketing in emerging regions.
Score 8/10
Regulation: FCA, CySEC, DFSA, FSCA plus offshore entities
Typical regions: MENA, Africa, Asia, LatAm
Platforms: MT4/5, mobile & web apps
HFM (formerly HotForex) combines regulated entities with offshore units and offers
micro, standard and raw-spread accounts, often with localised support and education.
Best for: Traders in emerging regions who want flexibility in account size and
leverage and are comfortable navigating entity differences.
Strengths
Wide choice of account types, including micro and raw-spread variants.
Strong marketing and education in MENA, Africa and some Asian/LatAm markets.
Combination of regulated and offshore structures for different profiles.
Weaknesses
Complexity around which entity you open with and what protections apply.
High leverage (where offered) increases risk for inexperienced traders.
Some users may prefer more conservative single-entity brokers.
Promotions & bonuses:
HFM is known for region-specific promotions via offshore entities. These are typically not available
in tightly regulated jurisdictions and always come with terms.
RoboForex is aimed at international traders in less-restricted jurisdictions. It offers multiple
platforms and a broad CFD product set, including stocks and indices.
Best for: Intermediate traders who specifically seek offshore conditions and are
comfortable with that risk profile.
Strengths
Choice of platforms including cTrader and proprietary R Trader.
Broad market list covering FX, indices, commodities, stocks and more.
Various account types for different strategies.
Weaknesses
Primarily offshore regulation; not suitable for traders who insist on top-tier oversight.
Higher leverage can magnify losses.
May not be available in many stricter jurisdictions.
Promotions & bonuses:
RoboForex has offered various bonuses and rebate schemes historically. These are strictly conditional
and vary by time and region.
New Zealand-origin ECN-style broker targeting higher-leverage traders outside strict regions.
Score 7.5/10
Regulation: NZ FSPR plus offshore entities
Typical regions: APAC, LatAm, parts of Africa
Platforms: MT4/5, TradingView (via integration)
BlackBull positions itself as an ECN-style broker with raw spreads and supports MT4/5
plus integration with TradingView. It is often chosen by traders looking for higher leverage and
offshore conditions.
Best for: More experienced traders comfortable with higher risk and offshore
regulation in exchange for raw pricing and flexible leverage.
Strengths
Raw-spread ECN-style accounts.
Good platform choices for technical traders.
Appealing to those wanting higher leverage (where allowed).
Weaknesses
Heavy reliance on offshore structures vs. top-tier major-market regulation.
Not appropriate for traders who prioritise maximum regulatory protection.
Availability restricted in many stricter countries.
Promotions & bonuses:
BlackBull may run campaigns or rebates in certain regions, typically via offshore entities. Always
verify details on the official site.
No brokers match the filters you've selected. Try clearing a few filters or just searching by region.
Important notes & FAQ
Is this page investment advice?
No. This page is not investment, tax or legal advice. It is an educational comparison based
on public information and typical positioning. You should always do your own research, consider your personal
circumstances and, if needed, speak with a qualified professional before making decisions.
How often does broker coverage change?
Broker coverage, leverage limits, product availability and even brand names can change over time. Regulators
may also impose new rules that affect bonuses, marketing and what retail traders can access. Always confirm
details directly with the broker before opening an account or funding it.
What about bonuses and promotions?
Bonuses and promotions can be heavily restricted or banned in many regulated markets and
frequently change in offshore regions. They nearly always come with terms on trading volume, withdrawal rules
or expiry. We recommend choosing a broker first on regulation, trading conditions and platform quality, and
treating any bonus as a secondary extra.
How should I use this page?
Use the filters to create a shortlist, then click through to each broker's official website to confirm:
whether they accept residents of your country, which legal entity you would contract with, what leverage and
products you can use, and what fees, swaps and protections apply. Combine that with your own strategy and
risk plan before deciding whether to trade at all.
