BrokerNotes.co is committed to the highest ethical standards and reviews services independently. Learn How We Make Money

Best Forex Brokers Indonesia 2023

Steven Hatzakis

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Joey Shadeck

December 27, 2022

Don’t let the Komodo dragons or the pungency of the corpse lily scare you off; Indonesia’s more than 17,000 islands contain a breathtaking diversity of natural wonders (and resources), bustling metropolises (ten million people in Jakarta alone), and a thriving economy and financial industry.

Here at BrokerNotes, we conducted extensive research and data collection on the top forex brokers, as well as local regulatory agencies, stock exchanges, and Indonesian monetary policy to create this guide to help you pick the best forex broker for trading in Indonesia.

Choosing a forex broker in Indonesia

Whether you are an active trader with deep forex experience, or a beginner who is just getting their start in the forex world, choosing a well-regulated forex broker is crucial if you want to steer clear of forex scams. Not all regulatory licenses carry the same weight, however, and regulatory environments can vary widely from country to country.

Our Trust Score, a proprietary algorithm, ranks regulatory agencies and their respective countries into three groups, with Tier 1 indicating the most stringent (which is good) and Tier 3 the least. We collect comprehensive data on each broker, which results in a ranking from 1 to 99 of the broker’s overall trust (the higher a broker’s Trust Score, the better). Learn more about Trust Score at our sister site, ForexBrokers.com.

The primary Indonesian financial sector regulator is the Otoritas Jasa Keuangan (OJK). Created in 2011, the OJK’s role is to supervise and regulate Indonesian financial markets, banks, and financial services firms, and ultimately to protect the interest of financial consumers.

Bank Indonesia, the Indonesian central bank, regulates and supervises the macroprudential (overall system-wide) health of the financial services sector, and regulates the licensing of banks and payment processors.

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 forex brokers for trading in Indonesia

To help you find the best forex brokers, we curated a list of every broker that accepts new clients from Indonesia. We conducted meticulous research on those brokers, using over 100 data-driven variables (including our proprietary Trust Score), resulting in this list of the overall best brokers in Indonesia:

  • IG
    - 9.9/10 Overall
  • FOREX.com
    - 9.3/10 Overall
  • XTB - 9/10 Overall
  • AvaTrade - 8.6/10 Overall
  • Capital.com - 8.4/10 Overall
  • XM Group - 8.4/10 Overall
  • Admiral Markets - 8.3/10 Overall
  • Tickmill - 7.9/10 Overall
  • BlackBull Markets - 7.9/10 Overall
  • HFM - 7.7/10 Overall
  • HYCM (Henyep) - 7.7/10 Overall
  • Eightcap - 7.6/10 Overall
  • ThinkMarkets - 7.4/10 Overall
  • easyMarkets - 7.3/10 Overall
  • AxiTrader - 7.1/10 Overall
Overall Rating
9.9 / 10
Minimum Initial Deposit
£250.00
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.86 (September 2022)
All-in Cost EUR/USD - Active0.5957 (September 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1974
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses7
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)19537
Forex Pairs (Total)100
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)33
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
9.3 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.0 (July 2022)
All-in Cost EUR/USD - Active1.0 (July 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1999
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses4
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)5500
Forex Pairs (Total)91
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)203
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
9 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.07 (Q3 2022)
All-in Cost EUR/USD - Active1.04 (Q3 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2002
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses1
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)12000
Forex Pairs (Total)49
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)39
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
8.6 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.91 (Aug 2020)
All-in Cost EUR/USD - Active0.61 (Aug 2020)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2006
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses4
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1260
Forex Pairs (Total)55
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)90
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
8.4 / 10
Minimum Initial Deposit
$20
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Average Risk
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.6 (July 2021)
All-in Cost EUR/USD - Active0.6 (July 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2016
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)6000
Forex Pairs (Total)138
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)75
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes
Overall Rating
8.4 / 10
Minimum Initial Deposit
$5
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.6 (Aug 2020)
All-in Cost EUR/USD - Active0.8 (Aug 2021)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2009
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1372
Forex Pairs (Total)57
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
8.3 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.8 (July 2021)
All-in Cost EUR/USD - Active0.7 (July 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2001
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)8425
Forex Pairs (Total)50
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
7.9 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.51 (August 2022)
All-in Cost EUR/USD - Active0.31 (August 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2014
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)295
Forex Pairs (Total)62
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes
Overall Rating
7.9 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Average Risk
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.827 (August 2022)
All-in Cost EUR/USD - Active0.827 (August 2022)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2014
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses0
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)26000
Forex Pairs (Total)72
BitcoinNo
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsNo
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes

Regulation in Indonesia

The primary regulation for Indonesian financial markets stems from Law No. 8 of 1995 on Capital Markets which pertains to the stock market and securities dealers and does not reference forex brokers. While commodity futures rules are based on the Law No. 10 of 2011 (which amends Law No. 32 of 1997), it too doesn't mention forex or CFD trading. The definition of securities excludes derivatives on forex but not derivatives on securities (like share CFDs, for example).

Article 103 under Chapter 15 of the law states that carrying out activities without a permit in the capital markets in Indonesia can result in up to 5 years in jail and a maximum fine of 5 billion Indonesian rupiahs (INR). That said, given the lack of guidelines for forex, many brokers regulated in other countries (outside of Indonesia) continue to accept clients in Indonesia. However, the OJK continues to put out public broker warnings from time to time urging the public not to invest with brokers that are not licensed by the OJK in Indonesia.

In addition, the Indonesian Commodity Futures Trading Supervisory Agency, or the Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI), operates under Indonesia’s Ministry of Trade. BAPPEBTI regulates and supervises the rules and regulations of the Futures Exchange and any commodity futures-related activity.

Indonesia’s financial markets

Forex traders might be familiar with the Indonesian rupiah (IDR) – Indonesia’s national currency. The rupiah is divided into 100 units known as sen, although no coins or banknotes currently use that smaller denomination.

Indonesia’s principal stock market – originally the Jakarta Stock Exchange (JSX) – dates back to 1912, established by the Dutch East India Company. In 2007, the JSX merged with the Surabaya Stock Exchange (SSX) to become the Indonesia Stock Exchange (IDX), located in Jakarta.

The IDX exchange lists stocks and equity derivatives among its products, in addition to providing a listing service for bonds, mutual funds, and exchange-traded funds (ETFs).

The IDX also offers a host of Islamic stocks and trading products. If you’d like to learn more about Islamic trading accounts – and what makes them different from your typical trading account – take a look at our guide.

FAQs

Is forex registered with OJK?

Only physical forex trading (exchanging) of actual currency (via banks that provide currency conversion services, for example) is regulated under 23/5/PBI/2021 by Bank Indonesia, as of June 2, 2021. Retail spot forex and CFD trading from a margin account are not formally defined by OJK, with the exception of share CFDs (derivatives on securities). It’s worth noting that OJK does put out occasional warnings to the public about brokers that are not regulated in Indonesia.

Which broker is best for MT4?

IC Markets stands out as the best option for traders looking to use MetaTrader 4 (MT4) in 2023. IC Markets’ competitive pricing includes low effective spreads and commissions, and a modest minimum deposit requirement. IC Markets’ range of account choices and variety of execution methods make it an excellent option for automated or algorithmic trading on MT4 and MT5. IC Markets also offers various tools and plugins for MetaTrader, and recently expanded its range of markets to offer 3,500 symbols, making it the number one choice in Indonesia.

What is the best broker for trading in Indonesia?

IG is the best broker for Indonesian traders in 2023. IG is a regulated broker that offers forex and CFD trading, and in 2023 it outclassed the competition in nearly every category. Traders in Indonesia will find that IG offers an award-winning mobile app (along with web and desktop platforms), as well as powerful trading tools, in-depth research and educational content, and a wide range of tradeable markets.

Which Indonesian forex broker has the best mobile app?

IG delivers the best mobile app for forex trading in 2022. When considering every forex broker that accepts Indonesian residents, IG’s smartphone app and overall mobile offering simply outstrips the competition. Indonesian traders that use the IG Trading app gain access to a well-designed platform loaded with sentiment readings, alerts, advanced technical analysis tools, and sophisticated charting capabilities.

Saxo Bank is the best forex broker in the overall mobile trading category in 2022. Saxo’s web and mobile platforms (SaxoTraderGO) provide a potent mix of trading tools, top-notch research, and educational content all wrapped in a remarkably unified cross-platform experience.

Which forex broker is best for beginners in Indonesia?

IG is our top choice for beginners in 2022, making it an excellent choice for traders who are just getting started with forex and CFD trading, or for more experienced traders that want to take their financial markets education to the next level. Beginner traders in Indonesia will find that IG offers comprehensive educational courses, as well as a wide range of informative articles and videos courtesy of their in-house content producer, DailyFx. IG has even developed a mobile app exclusively dedicated to education, called IG Academy.

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company Accepts ID Residents Overall Rating Minimum Initial Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
IG logoIG check 9.9 £250.00 0.86 (September 2022) 99 19537 IG Review Visit Site
Saxo Bank logoSaxo Bank check 9.7 €2,000 0.9 (September 2022) 99 60000 Saxo Bank Review
Interactive Brokers logoInteractive Brokers check 9.7 $0 0.6 (Aug 2022) 99 8500 Interactive Brokers Review
CMC Markets logoCMC Markets check 9.6 $0 0.51 (August 2022) 99 12377 CMC Markets Review
TD Ameritrade logoTD Ameritrade check 9.5 $0 1.25 pips (September 2022) 99 0 TD Ameritrade Review
FOREX.com logoFOREX.com check 9.3 $100 1.0 (July 2022) 99 5500 FOREX.com Review Visit Site
City Index logoCity Index check 9.2 £100.00 1.0 (July 2022) 99 13500 City Index Review
XTB logoXTB check 9 $0 1.07 (Q3 2022) 95 12000 XTB Group Review
eToro logoeToro check 8.8 $10-$10,000 1 (August 2021) 93 3458 eToro Review
Swissquote logoSwissquote check 8.7 $1000 N/A 99 466 Swissquote Review
AvaTrade logoAvaTrade check 8.6 $100 0.91 (Aug 2020) 93 1260 AvaTrade Review
FXCM logoFXCM check 8.5 Starts from $50 1.38 (Q2 2022) 96 441 FXCM Review
Plus500 logoPlus500 check 8.5 €100 0.6 (as of Aug 2018) 98 2800 Plus500 Review
Capital.com logoCapital.com check 8.4 $20 0.6 (July 2021) 77 6000 Capital.com Review
XM Group logoXM Group check 8.4 $5 1.6 (Aug 2020) 90 1372 XM Group Review
Pepperstone logoPepperstone check 8.4 $200 0.77 (September 2022) 93 1200 Pepperstone Review
OANDA logoOANDA check 8.4 $0 1.26 (5/22-5/27/22) 92 124 OANDA Review
Admiral Markets logoAdmiral Markets check 8.3 $100 0.8 (July 2021) 87 8425 Admiral Markets Review
FP Markets logoFP Markets check 8.3 $100 AUD 1.2 (August 2022) 86 10000 FP Markets Review
IC Markets logoIC Markets check 8.2 $200 0.62 (August 2022) 86 3583 IC Markets Review
Markets.com logoMarkets.com check 8.2 $100 1.9 (as of Oct 2019) 98 2179 Markets.com Review
FxPro logoFxPro check 8.1 $100 1.51 (August 2020) 90 2249 FxPro Review
Fineco Bank logoFineco Bank check 7.9 $0 N/A 92 126 Fineco Bank Review
Tickmill logoTickmill check 7.9 $100 0.51 (August 2022) 82 295 Tickmill Review
BlackBull Markets logoBlackBull Markets check 7.9 $0 0.827 (August 2022) 74 26000 BlackBull Markets Review
DooPrime logoDooPrime check 7.8 $100 -1 84 10000 DooPrime Review
BDSwiss logoBDSwiss check 7.8 $100-$5000 (depending on account type) 1.6 (08/10/22) 83 1081 BDSwiss Review
TMGM logoTMGM check 7.8 $100 0.96 (July 2021) 79 12000 TMGM Review
HFM logoHFM check 7.7 $5 1.2 (August 2021) 85 3500 HFM Review
FlowBank logoFlowBank check 7.7 $0.00 N/A 77 408600 FlowBank Review
HYCM (Henyep) logoHYCM (Henyep) check 7.7 $100 0.6 (Sept 2021) 86 245 HYCM Review
Vantage logoVantage check 7.7 $50 1.22 (August 2021) 83 1000 Vantage Review
Trading 212 logoTrading 212 check 7.6 EUR 10 N/A 77 1785 Trading 212 Review
Eightcap logoEightcap check 7.6 $100 1.0 (Aug 2022) 87 326 Eightcap Review
Trade Nation logoTrade Nation check 7.5 $0 0.6 83 601 Trade Nation Review
Moneta Markets logoMoneta Markets check 7.5 $50 1.27 (September 2022) 71 965 Moneta Markets Review
ThinkMarkets logoThinkMarkets check 7.4 $250.00 N/A 86 1674 ThinkMarkets Review
VT Markets logoVT Markets check 7.4 $200 1.2 (September 2021) 71 168 VT Markets Review
ACY Securities logoACY Securities check 7.4 $50 1.2 (Sept 2021) 75 1600 ACY Securities Review
easyMarkets logoeasyMarkets check 7.3 $100 0.9 (as of Mar 2020) 84 199 a href="/reviews/easymarkets">easyMarkets Review
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) check 7.3 $100 1.4 (Jan 2022) 69 12000 Roboforex (RoboMarkets) Review
IronFX logoIronFX check 7.2 $50 1.2 84 340 IronFX Review
Exness logoExness check 7.2 $1 0.9 (as of May 19) 74 112 Exness Review
Spreadex logoSpreadex check 7.2 $0 -1 70 2000 Spreadex Review
Trade360 logoTrade360 check 7.1 $250 N/A 75 1062 Trade360 Review
AxiTrader logoAxiTrader check 7.1 0 N/A 83 175 Axitrader Review
GKFX logoGKFX check 7.1 $0 N/A 66 354 GKFX Review
Vestle logoVestle check 7.1 -1 -1 79 750 Vestle Review
OctaFX logoOctaFX check 7 $25 0.6 (August 2021) 67 80 OctaFX Review
FXOpen logoFXOpen check 7 $100 N/A 80 87 FXOpen Review
TeleTrade logoTeleTrade check 7 $100 -1 67 500 Teletrade Review
FXPrimus logoFXPrimus check 6.9 $100 N/A 69 140 FXPrimus Review
Forex4you logoForex4you check 6.9 $0 -1 62 150 Forex4you Review
LegacyFX logoLegacyFX check 6.9 $500 0 75 425 LegacyFX Review
GBE brokers logoGBE brokers check 6.8 $500 -1 69 500 GBE Brokers Review
Alpari logoAlpari check 6.8 $20 N/A 67 105 Alpari Review
TopFX logoTopFX check 6.7 Depends on payment method N/A 67 655 TopFX Review
Libertex (Forex Club) logoLibertex (Forex Club) check 6.7 $10 -1 72 300 Libertex Review
ATFX logoATFX check 6.6 $500 -1 70 150 ATFX Review
UFX logoUFX check 6.6 $100 3 (Jan 2021) 67 619 UFX Review
Xtrade logoXtrade check 6.5 $250 -1 80 142 Xtrade Review
Tradeo logoTradeo check 6.4 $200 -1 67 256 Tradeo Review

More Forex Guides

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.

About the Editorial Team

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).


John Bringans
John Bringans

John Bringans is the Senior Editor of BrokerNotes.co and ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.


Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.


Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.

close