Best Depth of Market Forex Brokers
Depth of Market
In forex, depth of market (DOM) shows the levels of a particular currency that are being traded at different prices. This allows traders to understand the supply and demand, and therefore liquidity of the currency at each price point. A good depth of market means that there will be good liquidity. Where the market depth is low, or poor, there is less liquidity, and this means that a large order has the potential to affect the price.
Liquidity is important to traders who want to take advantage of short-term movements, and therefore want to be able to sell at a moment’s notice. Market depth data is therefore valuable for giving the trader an indication of how quickly they will be able to liquidate their position.
Pending orders are also included in the data, which is why it is also known as the order book. As an example of how the order book works; if the current price is $10, the order book will show how many orders are pending at $9, $11, etc. It doesn’t just show the bid and the ask prices, but also the volume of all bids and offers, in real-time, organized by price level.
Market depth is also an efficient way to check the activity of a particular currency, and traders can find out if there is enough depth and volume to complement their trading style at that given time.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Best Depth of Market Forex Brokers
Here are the best depth of market forex brokers.
-
IG
- Saxo Bank - 9.7/10 Overall
- Interactive Brokers - 9.7/10 Overall
- CMC Markets - 9.6/10 Overall
- TD Ameritrade - 9.5/10 Overall
-
FOREX.com
- City Index - 9.2/10 Overall
- XTB - 9/10 Overall
- eToro - 8.8/10 Overall
Average Spread EUR/USD - Standard | 0.86 (September 2022) |
All-in Cost EUR/USD - Active | 0.5957 (September 2022) |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | No |
Visa/Mastercard (Credit/Debit) | Yes |
Year Founded | 1974 |
Publicly Traded (Listed) | Yes |
Bank | Yes |
Tier-1 Licenses | 7 |
Tier-2 Licenses | 2 |
Forex Trading | No |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 19537 |
Forex Pairs (Total) | 100 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | Yes |
MetaTrader 5 (MT5) | No |
Proprietary Platform | Yes |
Social Trading / Copy Trading | Yes |
Charting - Indicators / Studies (Total) | 33 |
Android App | Yes |
Apple iOS App | Yes |
Has Education - Forex or CFDs | Yes |
Daily Market Commentary | Yes |
Forex News (Top-Tier Sources) | Yes |
Economic Calendar | Yes |

Average Spread EUR/USD - Standard | 0.9 (September 2022) |
All-in Cost EUR/USD - Active | 0.7 (September 2022) |
PayPal (Deposit/Withdraw) | No |
Skrill (Deposit/Withdraw) | No |
Visa/Mastercard (Credit/Debit) | Yes |
Year Founded | 1992 |
Publicly Traded (Listed) | No |
Bank | Yes |
Tier-1 Licenses | 6 |
Tier-2 Licenses | 1 |
Forex Trading | No |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 60000 |
Forex Pairs (Total) | 190 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | No |
MetaTrader 5 (MT5) | No |
Proprietary Platform | Yes |
Social Trading / Copy Trading | Yes |
Charting - Indicators / Studies (Total) | 62 |
Android App | Yes |
Apple iOS App | Yes |
Has Education - Forex or CFDs | Yes |
Daily Market Commentary | Yes |
Forex News (Top-Tier Sources) | Yes |
Economic Calendar | Yes |

Average Spread EUR/USD - Standard | 0.6 (Aug 2022) |
All-in Cost EUR/USD - Active | 0.6 (Aug 2022) |
PayPal (Deposit/Withdraw) | No |
Skrill (Deposit/Withdraw) | No |
Visa/Mastercard (Credit/Debit) | No |
Year Founded | 1977 |
Publicly Traded (Listed) | Yes |
Bank | No |
Tier-1 Licenses | 8 |
Tier-2 Licenses | 1 |
Forex Trading | No |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 8500 |
Forex Pairs (Total) | 90 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | No |
MetaTrader 5 (MT5) | No |
Proprietary Platform | Yes |
Social Trading / Copy Trading | No |
Charting - Indicators / Studies (Total) | 128 |
Android App | Yes |
Apple iOS App | Yes |
Has Education - Forex or CFDs | Yes |
Daily Market Commentary | Yes |
Forex News (Top-Tier Sources) | Yes |
Economic Calendar | Yes |

Average Spread EUR/USD - Standard | 0.51 (August 2022) |
All-in Cost EUR/USD - Active | 0.51 (August 2022) |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | No |
Visa/Mastercard (Credit/Debit) | Yes |
Year Founded | 1989 |
Publicly Traded (Listed) | Yes |
Bank | No |
Tier-1 Licenses | 5 |
Tier-2 Licenses | 1 |
Forex Trading | No |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 12377 |
Forex Pairs (Total) | 158 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | Yes |
MetaTrader 5 (MT5) | No |
Proprietary Platform | Yes |
Social Trading / Copy Trading | Yes |
Charting - Indicators / Studies (Total) | 84 |
Android App | Yes |
Apple iOS App | Yes |
Has Education - Forex or CFDs | Yes |
Daily Market Commentary | Yes |
Forex News (Top-Tier Sources) | Yes |
Economic Calendar | Yes |

Average Spread EUR/USD - Standard | 1.25 pips (September 2022) |
All-in Cost EUR/USD - Active | 1.25 pips (September 2022) |
PayPal (Deposit/Withdraw) | No |
Skrill (Deposit/Withdraw) | No |
Visa/Mastercard (Credit/Debit) | No |
Year Founded | 1955 |
Publicly Traded (Listed) | Yes |
Bank | Yes |
Tier-1 Licenses | 4 |
Tier-2 Licenses | 0 |
Forex Trading | Yes |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 0 |
Forex Pairs (Total) | 73 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | No |
MetaTrader 5 (MT5) | No |
Proprietary Platform | Yes |
Social Trading / Copy Trading | No |
Charting - Indicators / Studies (Total) | 360 |
Android App | Yes |
Apple iOS App | Yes |
Has Education - Forex or CFDs | Yes |
Daily Market Commentary | Yes |
Forex News (Top-Tier Sources) | Yes |
Economic Calendar | Yes |
Average Spread EUR/USD - Standard | 1.0 (July 2022) |
All-in Cost EUR/USD - Active | 1.0 (July 2022) |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | No |
Visa/Mastercard (Credit/Debit) | Yes |
Year Founded | 1999 |
Publicly Traded (Listed) | Yes |
Bank | No |
Tier-1 Licenses | 4 |
Tier-2 Licenses | 2 |
Forex Trading | No |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 5500 |
Forex Pairs (Total) | 91 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | Yes |
MetaTrader 5 (MT5) | Yes |
Proprietary Platform | Yes |
Social Trading / Copy Trading | No |
Charting - Indicators / Studies (Total) | 203 |
Android App | Yes |
Apple iOS App | Yes |
Has Education - Forex or CFDs | Yes |
Daily Market Commentary | Yes |
Forex News (Top-Tier Sources) | Yes |
Economic Calendar | Yes |

Average Spread EUR/USD - Standard | 1.0 (July 2022) |
All-in Cost EUR/USD - Active | 1.0 (July 2022) |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | No |
Visa/Mastercard (Credit/Debit) | Yes |
Year Founded | 1983 |
Publicly Traded (Listed) | Yes |
Bank | No |
Tier-1 Licenses | 3 |
Tier-2 Licenses | 2 |
Forex Trading | No |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 13500 |
Forex Pairs (Total) | 84 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | Yes |
MetaTrader 5 (MT5) | No |
Proprietary Platform | Yes |
Social Trading / Copy Trading | Yes |
Charting - Indicators / Studies (Total) | 88 |
Android App | Yes |
Apple iOS App | Yes |
Has Education - Forex or CFDs | Yes |
Daily Market Commentary | Yes |
Forex News (Top-Tier Sources) | Yes |
Economic Calendar | Yes |

Average Spread EUR/USD - Standard | 1.07 (Q3 2022) |
All-in Cost EUR/USD - Active | 1.04 (Q3 2022) |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
Year Founded | 2002 |
Publicly Traded (Listed) | Yes |
Bank | No |
Tier-1 Licenses | 1 |
Tier-2 Licenses | 3 |
Forex Trading | No |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 12000 |
Forex Pairs (Total) | 49 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | Yes |
MetaTrader 5 (MT5) | No |
Proprietary Platform | Yes |
Social Trading / Copy Trading | Yes |
Charting - Indicators / Studies (Total) | 39 |
Android App | Yes |
Apple iOS App | Yes |
Has Education - Forex or CFDs | Yes |
Daily Market Commentary | Yes |
Forex News (Top-Tier Sources) | Yes |
Economic Calendar | Yes |

Average Spread EUR/USD - Standard | 1 (August 2021) |
All-in Cost EUR/USD - Active | N/A |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
Year Founded | 2007 |
Publicly Traded (Listed) | No |
Bank | No |
Tier-1 Licenses | 2 |
Tier-2 Licenses | 1 |
Forex Trading | No |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 3458 |
Forex Pairs (Total) | 49 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | No |
MetaTrader 5 (MT5) | No |
Proprietary Platform | Yes |
Social Trading / Copy Trading | Yes |
Charting - Indicators / Studies (Total) | 66 |
Android App | Yes |
Apple iOS App | Yes |
Has Education - Forex or CFDs | Yes |
Daily Market Commentary | Yes |
Forex News (Top-Tier Sources) | No |
Economic Calendar | Yes |
Why it Matters
All the information that DOM provides can be useful for determining whether to place an order. Market depth data allows traders to understand whether the market is weighted toward buy orders or towards sell orders. If more buy orders are open than sell orders, for example, the share price may start to increase because of the increased buying support. However, when there are more sell orders, the price tends to weaken due to the selling pressure.
Knowing these resistance and support levels can help traders to establish their entry and exit points.
Brokers that offer Depth of Market
The MT5 trading platform displays depth of market data, and is available from regulated brokers such as Roboforex, Exness, and Forex4You, amongst others.
Trading with a regulated broker is always preferable to using a broker that is not regulated, and therefore not bound by the high standards set out by regulators.
Conclusion
It is recommended to invest time into learning how depth of market works as this can provide traders with indications about market conditions. However, traders need to bear in mind that not all orders get reflected in an order queue. Some traders (usually who execute large volumes of trades) manage to hide the size so that other traders do not get alerted.
Nonetheless, a study of depth of market can help spot support and resistance levels along with other useful information related to the market.
BrokerNotes.co 2023 Overall Rankings
To recap, here are our top forex brokers for 2023, sorted by Overall ranking.
Company | Overall Rating | Minimum Initial Deposit | Average Spread EUR/USD - Standard | Trust Score | Trust Score | Tradeable Symbols (Total) | Visit Site |
![]() |
9.9 | £250.00 | 0.86 (September 2022) | 99 | Highly Trusted | 19537 |
Visit Site
|
![]() |
9.7 | €2,000 | 0.9 (September 2022) | 99 | Highly Trusted | 60000 | |
![]() |
9.7 | $0 | 0.6 (Aug 2022) | 99 | Highly Trusted | 8500 | |
![]() |
9.6 | $0 | 0.51 (August 2022) | 99 | Highly Trusted | 12377 | |
![]() |
9.5 | $0 | 1.25 pips (September 2022) | 99 | Highly Trusted | 0 | |
![]() |
9.3 | $100 | 1.0 (July 2022) | 99 | Highly Trusted | 5500 |
Visit Site
|
![]() |
9.2 | £100.00 | 1.0 (July 2022) | 99 | Highly Trusted | 13500 | |
![]() |
9 | $0 | 1.07 (Q3 2022) | 95 | Highly Trusted | 12000 | |
![]() |
8.8 | $10-$10,000 | 1 (August 2021) | 93 | Highly Trusted | 3458 | |
![]() |
8.7 | $1000 | N/A | 99 | Highly Trusted | 466 | |
![]() |
8.6 | $100 | 0.91 (Aug 2020) | 93 | Highly Trusted | 1260 | |
![]() |
8.5 | Starts from $50 | 1.38 (Q2 2022) | 96 | Highly Trusted | 441 | |
![]() |
8.5 | €100 | 0.6 (as of Aug 2018) | 98 | Highly Trusted | 2800 | |
![]() |
8.4 | $20 | 0.6 (July 2021) | 77 | Average Risk | 6000 | |
![]() |
8.4 | $5 | 1.6 (Aug 2020) | 90 | Trusted | 1372 | |
![]() |
8.4 | $200 | 0.77 (September 2022) | 93 | Highly Trusted | 1200 | |
![]() |
8.4 | $0 | 1.26 (5/22-5/27/22) | 92 | Highly Trusted | 124 | |
![]() |
8.3 | $100 | 0.8 (July 2021) | 87 | Trusted | 8425 | |
![]() |
8.3 | $100 AUD | 1.2 (August 2022) | 86 | Trusted | 10000 | |
![]() |
8.2 | $200 | 0.62 (August 2022) | 86 | Trusted | 3583 | |
![]() |
8.2 | $100 | 1.9 (as of Oct 2019) | 98 | Highly Trusted | 2179 | |
![]() |
8.1 | $100 | 1.51 (August 2020) | 90 | Highly Trusted | 2249 | |
![]() |
7.9 | $0 | N/A | 92 | Highly Trusted | 126 | |
![]() |
7.9 | $100 | 0.51 (August 2022) | 82 | Trusted | 295 | |
![]() |
7.9 | $0 | 0.827 (August 2022) | 74 | Average Risk | 26000 | |
|
7.8 | $100 | -1 | 84 | Trusted | 10000 | |
![]() |
7.8 | $100-$5000 (depending on account type) | 1.6 (08/10/22) | 83 | Trusted | 1081 | |
![]() |
7.8 | $100 | 0.96 (July 2021) | 79 | Average Risk | 12000 | |
![]() |
7.7 | $5 | 1.2 (August 2021) | 85 | Trusted | 3500 | |
![]() |
7.7 | $0.00 | N/A | 77 | Average Risk | 408600 | |
![]() |
7.7 | $100 | 0.6 (Sept 2021) | 86 | Trusted | 245 | |
![]() |
7.7 | $50 | 1.22 (August 2021) | 83 | Trusted | 1000 | |
![]() |
7.6 | EUR 10 | N/A | 77 | Average Risk | 1785 | |
![]() |
7.6 | $100 | 1.0 (Aug 2022) | 87 | Trusted | 326 | |
![]() |
7.5 | $0 | 0.6 | 83 | Trusted | 601 | |
![]() |
7.5 | $50 | 1.27 (September 2022) | 71 | Average Risk | 965 | |
![]() |
7.4 | $250.00 | N/A | 86 | Trusted | 1674 | |
![]() |
7.4 | $200 | 1.2 (September 2021) | 71 | Average Risk | 168 | |
![]() |
7.4 | $50 | 1.2 (Sept 2021) | 75 | Average Risk | 1600 | |
![]() |
7.3 | $100 | 0.9 (as of Mar 2020) | 84 | Trusted | 199 | |
![]() |
7.3 | $100 | 1.4 (Jan 2022) | 69 | High Risk | 12000 | |
![]() |
7.2 | $50 | 1.2 | 84 | Trusted | 340 | |
![]() |
7.2 | $1 | 0.9 (as of May 19) | 74 | Average Risk | 112 | |
![]() |
7.2 | $0 | -1 | 70 | Average Risk | 2000 | |
![]() |
7.1 | $250 | N/A | 75 | Average Risk | 1062 | |
![]() |
7.1 | 0 | N/A | 83 | Trusted | 175 |
Visit Site
|
![]() |
7.1 | $0 | N/A | 66 | High Risk | 354 | |
![]() |
7.1 | -1 | -1 | 79 | Average Risk | 750 | |
![]() |
7 | $25 | 0.6 (August 2021) | 67 | High Risk | 80 | |
![]() |
7 | $100 | N/A | 80 | Trusted | 87 | |
![]() |
7 | $100 | -1 | 67 | High Risk | 500 | |
![]() |
6.9 | $100 | N/A | 69 | High Risk | 140 |
Visit Site
|
![]() |
6.9 | $0 | -1 | 62 | High Risk | 150 | |
![]() |
6.9 | $500 | 0 | 75 | Average Risk | 425 | |
![]() |
6.8 | $500 | -1 | 69 | High Risk | 500 | |
![]() |
6.8 | $20 | N/A | 67 | High Risk | 105 | |
![]() |
6.7 | Depends on payment method | N/A | 67 | High Risk | 655 | |
![]() |
6.7 | $10 | -1 | 72 | Average Risk | 300 | |
|
6.6 | $500 | -1 | 70 | Average Risk | 150 | |
![]() |
6.6 | $100 | 3 (Jan 2021) | 67 | High Risk | 619 | |
![]() |
6.5 | $250 | -1 | 80 | Trusted | 142 | |
![]() |
6.4 | $200 | -1 | 67 | High Risk | 256 |
More Forex Guides
- Best Forex Brokers
- Best CFD Brokers
- Best Zero Spread Brokers
- Best MetaTrader Brokers
- Best Brokers for Mac
- Compare Forex Brokers
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.