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  • Easy to use matching engine based on 10+ different criteria
  • Database of 300+ forex trading platforms
  • Aggregated broker's ratings from Trustpilot, Reddit and Quora
Trustpilot Rating
Rational FX

Navigating the complex landscape of forex brokers in 2024 can be a difficult task, even for seasoned traders. However, our team at Rational FX has undertaken an exhaustive research to simplify this process for you.

After dedicating several months evaluating the foremost forex trading brokers globally, we have curated a comprehensive list of the most elite trading platforms.

Forex Brokers Matching Engine

How We Rank Forex Brokers at Rational FX

At RationalFX, we understand the importance of selecting a reliable and trustworthy forex broker. With numerous options available, it can be overwhelming to make an informed decision. To help you navigate the complex world of forex trading, we have developed a comprehensive ranking system that takes into account multiple key factors.

When evaluating and ranking the best forex brokers, we consider the following essential criteria:

  1. Regulation of the Broker:

    We only include brokers that are regulated by top-tier regulatory bodies, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, and the Cyprus Securities and Exchange Commission (CySec) in Cyprus. This ensures that our recommended brokers operate in a transparent and secure environment, adhering to strict regulatory standards.

  2. Trading Platforms Available:

    We look for brokers that offer a range of popular and user-friendly trading platforms, including:
    Metatrader 4 (MT4), Metatrader 5 (MT5), cTrader,TradingView, Copy Trading. These trading platforms provide traders with the tools and flexibility they need to execute trades efficiently and effectively.

  3. Forex Spreads:

    Competitive spreads are crucial for traders, as they directly impact trading costs. We include brokers that offer tight spreads for both major and minor currency pairs, ensuring that our users can trade with confidence and minimize their expenses.

  4. Available Deposit Methods:

    We believe that brokers should provide a variety of convenient and secure deposit methods, including: PayPal, Credit and debit cards (e.g., Visa), Bank transfers, Bitcoin and Crypto, e-wallets. This diversity of payment options allows traders to fund their accounts easily and quickly, without unnecessary hassle or restrictions.

  5. Trading Instruments Available:

    A good forex broker should offer a broad range of trading instruments, including: Stocks, Forex, Cryptocurrencies, Indices and Commodities. This variety enables traders to diversify their portfolios and adapt to changing market conditions, making it easier to achieve their investment goals.

    By carefully evaluating these factors, we provide our users with a comprehensive and unbiased ranking of the best forex brokers. Our goal is to empower traders with the knowledge and tools they need to make informed decisions and succeed in the competitive world of forex trading.

RationalFX Comprehensive Ranking

We’ve conducted an exhaustive evaluation of over 50 forex brokers and top trading platforms, utilizing a rigorous testing methodology that analyzes a multitude of data-driven variables and thousands of data points.

Comprehensive ranking table

Brand Min. Deposit Trading Platforms Spread Regulation Trustpilot
$50
  • MT4
  • L2 Dealer
  • ProRealTime
  • IG proprietary software
  • TradingView
0.85
  • ASIC
  • FCA
  • DFSA
  • CFTC
  • FMA
  • FINMA
  • BaFin
  • MAS
  • JFSA
  • FSCA
  • BMA (Bermuda)
$0
  • IBKR Desktop
  • IBKR Trader Workstation
  • IBKR Mobile
  • IBKR GlobalTrader
0.1
  • CFTC
  • CIRO
  • FCA
  • CBI
  • Central Bank of Hungary
  • ASIC
  • SFC (Hong Kong)
  • SEBI
  • JSDA
  • MAS
$0 Classic
$200,000 + Platinum
$1,000,000 + VIP
  • SaxoTraderGO
  • SaxoTraderPRO
  • TradingView
  • SaxoInvestor
0.9
  • FCA (No. 551422)
  • FSA Denmark (No. 1149)
  • MAS (No. 200601141M)
  • ASIC (No. 32110128286)
  • SFC Hong Kong (No. 1395901)
  • FSA Japan (No. 0104-01-082810)
$0
  • CMC Markets’ Next Generation
  • MetaTrader 4
0.5
  • ASIC
  • MAS
  • FCA
  • BaFin
  • IIROC
$100
  • MetaTrader 4
  • MetaTrader 5
  • TradingView
  • WebTrader
  • NinjaTrader
1
  • ASIC
  • MAS
  • FCA
  • CIRO
  • JFSA
  • CFTC
  • CySEC
  • CIMA
  • SFC
  • CySEC
$0
  • MT4
  • WebTrader
  • Trading App
  • TradingView
1.1
  • FCA (No. 446717)
  • CySEC (No. 400/21)
  • MAS
  • ASIC
$250
  • xStation 5
  • xStation Mobile
0.9
  • FCA (License No. FRN 522157)
  • CySEC (License No.169/12)
  • FSC (FSC License No.: 000302/438)
  • IFSC (License No.: 000302/46.)
  • KNF (N/A)
  • CNMV (N/A)
  • BaFin (registered)
  • FSCA (N/A)
  • FSA Norway (registration ID - FT00118162)
$50 or $100 based on country ($10 for the UK)
  • eToro Investing
  • eToro App
  • TradingView
  • eToro CopyTrader
1.0
  • FCA
  • CySEC
  • ASIC
  • MFSA
  • ADGM
  • FSA
  • FINRA/FinCEN
  • AMF
  • SEC
  • GFSC
$20
  • MetaTrader 4
  • TradingView
0.6
  • ASIC
  • FCA
  • CySEC
  • SCB
  • SCA (UAE)
$1,000
  • CFXD
  • MetaTrader 4
  • MetaTrader5
1.0
  • FCA
  • MFSA
  • FINMA
  • DFSA
  • MAS
  • CySEC
  • FSC
  • FSCA
$100
  • MetaTrader4
  • MetaTrader5
  • WebTrader
  • AvaTadeGO
  • AvaSocial
  • AvaOptions
  • DupliTrade
0.9
  • FFAJ (License No.1574)
  • CySEC (No. 347/17) ISA (No. 514666577)
  • IIROC
  • ADGM / FSRA (No.190018)
  • CBI (No.C53877)
  • BVIFSC (No. SIBA/L/13/1049)
  • FSCA(No.45984)
  • ASIC (No.406684)
  • JFSA (No. 1662)
$0 ($25 for Trustly, Visa, Mastercard)
  • MT4
  • TradingView
  • Oanda Web
1.6
  • FCA
  • CFTC
  • KNF
  • MAS
  • IIROC
  • MASASIC
  • FSA (Japan)
  • FSC (British Virgin Islands)
$100
  • Proprietary desktop and mobile platforms
1.2
  • FSA (No.4.1-1/18)
  • FCA (No. FRN 509909)
  • CySEC (No.250/14)
  • FMA (No.47546)
  • SFSA (No. SD039)
  • MAS (No. CMS100648)
  • DFSA (No. F005651)
  • ASIC (No. 417727)
  • BaFin registration
  • SCB (SIA-F250)
$50
  • MetaTrader 4
  • TradingView Pro
  • Trading Station
  • Capitalise.ai
0.6
  • FCA
  • CySEC
  • ASIC
  • FSCA
  • ISA
  • IIROC
$0
  • TradingView
  • MT5
  • MT4
  • cTrader
1.00 (min)
  • UK FCA (No.684312)
  • CySEC (No. 388/20)
  • ASIC (No. 414530)
  • BaFin (No.151148)
  • DFSA
  • CMA
  • SCB (Bahamas)
$5
  • MetaTrader 4 and 5
  • MetaTrader 4 and 5 on mobile
  • MT4 WebTrader
  • MT5 WebTrader
  • MT4 Multiterminal
0.8
  • (ASIC) (ref. No. 443670)
  • FSC (license no. 000261/397)
  • DFSA (ref. no. F003484)
  • CySEC (license no. 120/10)
  • CFTC; Registrations for EU passporting: - BaFin
  • CNMV
  • MNB
  • CONSOB
  • ACPR
  • FIN-FSA (Finland)
  • KNF
  • AFM
  • FSA (Sweden)
$100 ($1 for Invest MT5 Account)
  • MT4
  • MT5
  • WebTrader
  • MT Supreme Edition
  • StereoTrader
0.1
  • CySEC (No. 201/13)
  • ASIC (No. 410681)
  • FCA (No. 595450)
  • JSC (No. 57026)
  • FSCA (No. FSP51311)
  • EFSA (No. 4.1-1/46)
  • CMA (No. 178)
  • CIRO
  • FSA (No.SD073)
$50 (AU$100)
  • MetaTrader4
  • MetaTrader5
  • WebTrader
  • IRESS
  • cTrader
  • TradingView
1.1
  • ASIC
  • CySEC
  • FSA (Seychelles)
  • FSCA
  • FSA (St. Vincent and the Grenadines)
$100
  • MT4
  • MT5
  • WebTrader
  • ZuluTrade
0.1
  • CySEC (No. 278/15)
  • FCA (733772)
  • CONSOB (No.4310)
  • BaFin (No.146511)
  • ACPR (No.75473)
  • CNVM (No.4082)
  • FSA Seychelles (SD 008)
  • FSCA (FSP 49464)
  • DFSA (F007663)
$200
  • MetaTrader4
  • MetaTrader5
  • cTrader
  • ZuluTrade
0.8
  • FSA (Seychelles)
  • CySEC
  • ASIC
$100
  • MT4
  • MT5
  • cTrader
  • FxPro Edge (proprietary)
0.25
  • FCA (No. 45052)
  • CySEC (No. 078/07)
  • SCB (No. SIA-F184)
  • FSCA (No.45052)
$100
  • MetaTrader 4
  • MetaTrader 5
  • WebTrader
  • Mobile App
  • TradingView
0.6
  • ASIC (license no. 424008)
  • FCA (license no. 481853)
  • CySEC (license no. 092/08)
  • FSCA (license no. 46860)
  • FSC (license no. SIBA/L/14/1067)
  • FSA (license no. 27030 BC 2023)
$0 (Standard)
$2,000 (Prime)
$20,000 (Institutional)
  • MT4
  • MT5
  • TradingView
  • cTrader
  • MT WebTrader
  • BlackBull Shares
  • BlackBull CopyTrader
  • BlackBull Trade
  • BlackBull Invest
  • ZuluTrade
0.1
  • SFSA (No. SD045)
  • FMA (No. FSP403326)
  • FSA
$50
  • MetaTrader 4
  • MetaTrader 5
  • ProTrader
  • TradingView
  • Copy Trading
0.2
  • FCA (license no. FRN: 590299)
  • VFSC (reg. No. 700271)
  • ASIC (license no. no. 428901)
  • FSCA (license no. 51268)
  • CIMA (no. 1383491)
$250
  • MT4
  • MT5
  • TradingView
  • ThinkTrader
2.61
  • CySEC
  • ASIC
$20
  • MT4
  • MT5
  • Hycm trader
1.5
  • FCA
  • DFSA
$0 (Zero, Premium), $5,000 (Premium Pro)
  • MT4
  • MT5
  • Proprietary
0.73
  • CySEC
  • FCA
  • DFSA
  • FSCA
  • CMA
  • FSA (St. Vincent and the Grenadines)
  • FSA (Seychelles)
$10
  • Activtrader
  • TradingView
  • MT4
  • MT5
1
  • CySEC
  • FCA
  • FSC
$0
  • TN Trader
  • MetaTrader 4
  • TradeCopier
  • TradingView
0.6
  • FCA (ref.no 525164)
  • SCB (SIA-F216)
  • ASIC (AFSL No. 422661)
  • FSA (license no. SD150)
  • FSCA
$100
  • MT4
  • MT5
  • WebTrader
  • TradingView
  • Capitalise.ai
  • FlashTrader
1.00 (min)
  • SCB (No. SIA-F220)
  • ASIC (No.391441)
  • CySEC (No. 246/14)
  • FCA (No. 921296)
$50
  • MT4
  • MT5 AppTrader
1.2
  • (FSCA)
$50
  • MT4
  • MT5
  • Multibank +
1
  • ASIC
  • CySec
  • BaFin
  • FMA
  • VFSC
Varies based on method
  • MT4
  • MT5
  • Exness Terminal (Proprietary)
0.6
  • CySEC
  • FCA
  • FSC (Mauritius)
  • FSA (Seychelles)
  • CBCS (Curacao)
  • FSC (BVI)
$100
  • easyMarkets
  • MetaTrader 4
  • MetaTrader 5
  • TradingView
0.7
  • CySEC (license no. 079/07)
  • ASIC (license no. 246566)
  • FSA (license no. SD056)
  • and FSC (license no. SIBA/L/20/1135).
$10
  • MT4
  • MT5
  • Proprietary
1.56
  • (FSC) Belize
$25
  • MT4
  • MT5
  • OctaTrader
  • CySEC
  • MISA (Comoros)
$100
  • MetaTrader 4
  • WebTrader
  • VPS
  • PMAM
  • TradeCopier
  • Mobile App
0.7
  • FCA (licensing no. 585561)
  • FSCA (licensing no. 45276)
$0
  • MT4 Desktop
  • MT4 WebTrader
  • Axi Mobile
1.2
  • ASIC
  • FCA
  • CySEC
  • DFSA
  • FSA (Saint Vincent and the Grenadines)
$100
  • MT4
  • MT5
2
  • SVG FIU
$100
  • Fxnet
  • iForex app
1
  • CySEC
$1000
  • MT4
  • MT5
0.8
  • CySEC
$20
  • MT4
  • MT5
0.9
  • FSC
$10
  • Libretex Trading Platform
  • MT4
  • MT5
0.1
  • CySEC (CIF Licence number 164/12)
  • BaFin (BaFin ID: 10161686 / Bak No.: 161686)