Advertiser disclosure: some links on this page may be affiliate links, meaning BrokerCatalogue may earn a commission if you open an account. The order below comes from our published trust rank and the filters stated on this page. No broker can pay to move up. How we make money.
Risk warning: CFDs and forex are leveraged products. Most retail investor accounts lose money when trading CFDs. You could lose more than you deposit with brokers that do not offer negative balance protection. Nothing here is financial advice.
A first broker has one job. It must keep your money safe while you learn. So this list starts with the licence. Every broker here holds at least one licence from a major regulator and charges low or medium fees on our scale. Each one has a platform a new trader can pick up fast.
The order is our trust rank. It weighs regulation, client fund protection, costs, platforms and track record, and no broker can pay to change it. Read each review before you open an account, and start with a demo account if the broker offers one.
FOREX.com is a well-regarded forex broker offering broad access to forex markets through web, desktop, and mobile platforms, with research, education, and risk management tools. It operates under applicable regulatory oversight in many regions.
Interactive Brokers is a well-regarded forex broker providing broad access to currency pairs, advanced trading platforms, and research and risk management tools. It supports multi-asset trading and a wide range of order types for active FX participants.
Plus500 is a regulated forex and CFD broker offering broad access to currency pairs and other markets on a proprietary web and mobile platform. It provides built-in charting, order types, and risk management tools to support straightforward trade execution.
Saxo Bank is a well-regarded forex broker with a proprietary multi-asset trading platform, broad access to currency pairs, advanced charting, and research-driven tools. It emphasizes robust technology, risk management features, and a professional user experience.
Swissquote provides forex and multi-asset trading through proprietary and third-party platforms, with research, education, and customer support. It is well-regarded for a broad product range, clear pricing, and tools suitable for different experience levels.
Tastyfx is a Commodity Futures Trading Commission ("CFTC") registered Retail Foreign Exchange Dealer (RFED) and Introducing Broker (IB) and Forex Dealer Member (FDM) of the National Futures Association ("NFA"). Review its fees, platform features, and regulatory information on the official…
XTB is a forex and CFD broker offering a proprietary platform, broad instrument coverage, and integrated research and education. It is regulated in multiple jurisdictions.
eToro is a well‐regarded forex broker and multi‐asset platform offering broad access to currency markets via web and mobile trading. It provides social trading features, research, and education within an integrated interface and straightforward account management.
FXCM is a well-regarded forex broker that provides access to currency pairs on proprietary and third-party trading platforms, with market research, education, and risk management tools. It operates through regulated entities.
Pepperstone is a well-regarded forex broker offering access to forex and CFD markets through multiple trading platforms, with tools for analysis and risk management.
AvaTrade is a well-regarded forex and CFD broker offering multiple trading platforms, broad market access, and educational resources. It provides market research and risk management tools with an emphasis on platform reliability and compliance.
Admirals is a well-regarded forex and CFD broker offering broad market access, user-friendly platforms, and integrated research and education. It provides a range of account options and risk management tools under established regulatory frameworks, emphasizing platform reliability and client support.
Start with the regulator. Look the broker up on the register of the regulator it names, not on the broker's own site. Then check where the broker will open your account. A broker with an FCA licence may still put you with its offshore company if you live outside the UK, and the rules and protections change with the company.
Next, look at the account. A demo account with live prices lets you learn without risk. A low minimum deposit lets you start small. Negative balance protection means you cannot owe the broker more than you put in. Regulators in the EU, the UK and Australia require it for retail clients. Many offshore brokers do not offer it.
Costs matter less than safety at the start, but they add up. A spread of 1 pip on EUR/USD costs about $10 per standard lot each time you trade. Our fee level score compares brokers on typical spreads and commissions.
Leverage lets you control a large position with a small deposit. It also turns a small move against you into a large loss. In the EU, the UK and Australia the cap for retail traders is 30:1 on major pairs. In the US it is 50:1. Offshore brokers offer 500:1 or more. Lower is safer while you learn. Our leverage guide shows the maths with real numbers, and the leverage calculator lets you test a position before you place it.
The safest choice is a broker licensed by a major regulator in your own country or region, because that is the licence that protects you. Our trust rank puts regulation first, so the brokers at the top of this page are the ones with the strongest licences and track record.
Many brokers open accounts from $10 to $200. Start with money you can afford to lose while you learn, and use a demo account first. The minimum deposit is on each broker review.
A demo uses real prices, but there is no fear of loss and orders always fill. Treat it as a way to learn the platform and your own rules, not as proof that a strategy works.
Not with brokers regulated in the EU, the UK or Australia. They must give retail clients negative balance protection. With many offshore brokers you can, so check the terms before you deposit.
Brokers with at least one licence from a major regulator and a low or medium fee level, ordered by our trust rank. Data comes from the catalogue and each broker's own pages. Rank and licence data checked 25 September 2026.
Sources: FCA PS19/18 on CFD leverage limits (2019) · ASIC CFD product intervention order, extended to May 2027 (2022)
