Best Institutional Forex Brokers
Institutional Trading Accounts
Institutional trading accounts are used by companies, groups or institutions with large capital sums available to trade with. Insurance companies, banks, hedge funds and pension funds are just some examples of institutions who may be eligible to open institutional trading accounts. The large capital sums attract better terms and trading account features; including access to deep pools of liquidity from the broker’s internal and external markets, powerful technology, advanced platform and reporting tools and a dedicated service that includes specialist support. Furthermore, APIs are available for institutional investors to connect the broker’s real-time data to their own front-end systems, allowing trades to be executed swiftly and smoothly in an in-house environment.
These types of trading accounts have reduced costs per trade, greater access to data analysis and information, and the ability to trade other financial instruments that are not necessarily available to individual traders. Institutions using these types of trading accounts also have the ability to negotiate trading fees while still getting the best price and fastest execution times. The accounts are used by institutions to engage in block trades, buying or selling 10,000 or more shares at a time. With such a high volume of trades, these accounts have the ability to significantly affect the prices of the securities in which they deal.
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 Institutional Forex Trading Accounts
Here are the best institutional forex trading accounts.
-
IG
- Saxo Bank - 9.7/10 Overall
- Interactive Brokers - 9.7/10 Overall
- CMC Markets - 9.6/10 Overall
-
FOREX.com
- City Index - 9.2/10 Overall
- XTB - 9/10 Overall
- eToro - 8.8/10 Overall
- Swissquote - 8.7/10 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 | 1.0 (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 |

Average Spread EUR/USD - Standard | N/A |
All-in Cost EUR/USD - Active | N/A |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
Year Founded | 1996 |
Publicly Traded (Listed) | Yes |
Bank | Yes |
Tier-1 Licenses | 4 |
Tier-2 Licenses | 1 |
Forex Trading | No |
Mobile Trading - Forex or CFDs | Yes |
Tradeable Symbols (Total) | 466 |
Forex Pairs (Total) | 78 |
Bitcoin | Yes |
Virtual Trading (Demo) | Yes |
MetaTrader 4 (MT4) | Yes |
MetaTrader 5 (MT5) | Yes |
Proprietary Platform | Yes |
Social Trading / Copy Trading | Yes |
Charting - Indicators / Studies (Total) | 49 |
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 |
Benefits of Institutional Trading Accounts
Institutional trading account holders often have access to teams of analysts and specific market data. This can give them the opportunity to benefit from an in-depth analysis before trading. The accounts also have exclusive access to specific financial instruments, which allow institutional traders to diversify their funds in a wider range of securities.
Brokers that offer Institutional Trading Accounts
Brokers such as IG and CMC Markets offer institutional trading accounts. Many brokers also offer this service, or an elective professional service to individual professional traders with high funds and significant trading experience. Such traders can contact brokers for a personalized service with all the benefits of an institutional trading account.
Conclusion
There are numerous advantages for clients who qualify for an institutional trading account. This type of account will provide traders with a preferential service and terms from their brokers, the ability to trade in a wider variety of securities, and more in-depth market data, amongst other things.
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.