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Market Maker: Definition, and the Best Market Makers for Forex Trading in 2024

Steven Hatzakis

Written by Steven Hatzakis
Edited by Jeff Anberg
Fact-checked by Joey Shadeck

April 12, 2024

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.

Understanding the differences between market makers and agency brokers will help you choose the best broker for your specific trading strategy.

I've been using market maker and agency brokers for over 20 years, both as a trader and as a reviewer. This guide will break down what I’ve learned about the underlying execution methods that are most common among the top forex brokers and reveal my picks for the best market makers of 2024.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% 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.


Company Average Spread EUR/USD - Standard Minimum Deposit Overall Rating Visit Site
IG logoIG 0.98 info £250.00 5/5 Stars Visit Site
Saxo logoSaxo 1.1 info $0 5/5 Stars
CMC Markets logoCMC Markets 0.61 info $0 5/5 Stars
FOREX.com logoFOREX.com 1.4 info $100 5/5 Stars Visit Site
City Index logoCity Index 1.4 info £100.00 5/5 Stars
XTB logoXTB 1.00 info $0 info 5/5 Stars
eToro logoeToro 1 info $10-$10,000 4.5/5 Stars

Best Market Makers for Forex Trading

  • IG
    - Best overall, multiple execution methods
  • Saxo - Great for larger orders with up to $25 million automated execution
  • CMC Markets - Excellent pricing for market maker execution
  • FOREX.com
    - Multiple execution methods, commission-based and spread-only options
  • City Index - Several account options and access to a wide range of markets
  • XTB - Well-rounded offering including platforms, tools, research and education
  • eToro - Great multi-asset broker for both manual and copy trading
IG
5/5 Stars 5.0 Overall

Best overall, multiple execution methods

Minimum Deposit£250.00
Trust Score99
Tradeable Symbols (Total)19537

IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets. Read full review

Pros
  • Outstanding platforms and tools
  • Over 19,000 tradeable instruments
  • Competitive pricing
Cons
  • No predefined layouts on the flagship web platform
  • Limited product range on MT4
Visit Site

Join 239,000+ traders worldwide.

(Trading forex carries a high level of risk)

Saxo
5/5 Stars 5.0 Overall

Great for larger orders with up to $25 million automated execution

Minimum Deposit$0
Trust Score99
Tradeable Symbols (Total)70000

Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities. Read full review

Pros
  • Flagship platform is top of the line
  • Over 40,000 tradeable instruments
  • Excellent customer service
Cons
  • High minimum deposit
CMC Markets
5/5 Stars 5.0 Overall

Excellent pricing for market maker execution

Minimum Deposit$0
Trust Score99
Tradeable Symbols (Total)12074

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments. Read full review

Pros
  • Low trading costs
  • Excellent web and mobile platforms
  • Robust research materials
Cons
  • Educational offering could be improved
FOREX.com
5/5 Stars 5.0 Overall

Multiple execution methods, commission-based and spread-only options

Minimum Deposit$100
Trust Score99
Tradeable Symbols (Total)5500

FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader. Read full review

Pros
  • Multiple high-quality platforms
  • Excellent market research
  • Wide range of markets
Cons
  • Only about 600 instruments are available on the MT5 platform, compared to over 4,500 on non-MetaTrader platforms
Visit Site

A Global Market Leader!

(Trading forex carries a high level of risk.)

City Index
5/5 Stars 5.0 Overall

Several account options and access to a wide range of markets

Minimum Deposit£100.00
Trust Score99
Tradeable Symbols (Total)13500

Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets. Read full review

Pros
  • Excellent platforms and mobile app
  • Extensive range of markets
  • High-quality market research
Cons
  • Pricing is average for the industry
  • Limited product range on MT4
XTB
5/5 Stars 5.0 Overall

Well-rounded offering including platforms, tools, research and education

Minimum Deposit$0 info
Trust Score96
Tradeable Symbols (Total)6100

As a trusted multi-asset broker, XTB offers outstanding customer service, a wide variety of forex and CFDs, and an excellent overall trading experience. Its xStation 5 trading platform is well-designed and packed with innovative features, and XTB’s offers comprehensive educational content and market research. Read full review

Pros
  • xStation 5 platform is an industry standout
  • Robust selection of trading tools
  • Excellent customer service
Cons
  • Pricing is just average
eToro
4.5/5 Stars 4.5 Overall

Great multi-asset broker for both manual and copy trading

Minimum Deposit$10-$10,000
Trust Score90
Tradeable Symbols (Total)3479

eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies. Read full review

Pros
  • Large number of investors to copy
  • Extensive range of markets to trade
  • User-friendly platforms and app
Cons
  • No automated trading strategies
  • Stops, limits mandatory on trades
  • Research trails competitors

Best overall market maker broker - IG

Company Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Execution: Market Maker Visit Site
IG logoIG 5/5 Stars £250.00 0.98 info Yes Visit Site

IG is my top choice for a market maker broker in 2024 thanks to its ability to effectively execute large orders, with over $5 million in automatic execution across popular major currency pairs. Publicly traded and highly regulated in multiple Tier-1 jurisdictions, IG holds one of our highest Trust Scores and ranks at or near the top of almost every category we cover.

IG provides institutional market making to wholesale clients and other brokerages and has earned a long-standing reputation as a trusted dealer relied upon by large institutions and retail traders alike. IG offers multiple execution methods beyond the market making option available on its standard account. Traders seeking agency execution at IG can opt instead for its commission-based Forex Direct account (similar to an ECN model). To learn more, read my full IG review.

Reliable market maker execution for large orders - Saxo

Company Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Execution: Market Maker Visit Site
Saxo logoSaxo 5/5 Stars $0 1.1 info Yes

Saxo is an excellent choice for market maker execution – particularly for large orders. It offers automated execution for trades up to $20 million on major currency pairs and is a trusted market maker for institutional clients, providing liquidity to other brokers due to its reliable execution methods. With well-rounded pricing, including deeper discounts for Platinum and VIP account holders, Saxo is a great choice for traders wishing to benefit from stellar execution on high-value trades.

One of the most highly trusted and regulated multi-asset brokers we cover, Saxo is part of a major banking conglomerate headquartered in Denmark with over $100 billion in client assets as of its latest annual report, published in 2024. Read my in-depth Saxo review to learn more.

Excellent pricing for a market maker - CMC Markets

Company Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Execution: Market Maker Visit Site
CMC Markets logoCMC Markets 5/5 Stars $0 0.61 info Yes

CMC Markets is a great choice for traders seeking a market maker broker with competitive pricing that ranks above the industry average. CMC Markets is a highly trusted, publicly traded multi-asset broker that holds licenses from multiple top-tier financial centers.

A market maker for both retail and professional clients alike, CMC Markets is relied upon by financial institutions for its ability to deal as a principal across a vast array of asset classes and markets globally. Active retail traders may also enjoy its commission-based pricing structure offering highly competitive spreads. Read my full review of CMC Markets to learn more.

FAQs

What is a market maker?

The phrase “market maker” refers to a dealer (or, broker) that, quite literally, makes markets. A market maker establishes prices and executes orders to buy or sell at those prices in order to capture the spread between them. Market makers profit both from this spread and potentially from any risk they internalize by holding the opposite side of your trade.

There are two sides to every trade: one side is simultaneously buying or selling to the other. A market maker either takes the other side of your trade (internalizes the risk) or sells it to another entity (externalizes the risk). An agency broker only does the latter; by sending the order to another dealer or market maker to execute the trade (externalizing the risk), agency brokers capture a small commission from the spread.

The differences between market maker brokers and agency brokers are often blurred because many brokers may use a combination of these approaches (or may even claim to be one while secretly doing the other). In addition, untrustworthy market maker brokers may employ questionable dealing practices that put traders at a disadvantage.

What are the different types of brokers?

While your broker may match your trade to another client, send your order to another broker to execute, or take the other side of your trade directly as a market maker, they are always the counterparty to your trade. The three types of brokers you might deal with are:

  • Market Maker Brokers: Executes your order internally by taking the risk on the opposite side of your trade (internalizing the risk).
  • Agency Brokers: Sends your order to another market maker broker (known as a liquidity provider) to execute your trade (externalizes or offloads the risk).
  • Hybrid brokers: This broker does both. Be aware: Some hybrid brokers may claim to be agency-only brokers sending all orders to external liquidity providers (LPs), but in reality are sending some orders to their own market maker entity/liquidity provider.

people_altCaution:

Some brokers claiming to be agency brokers send to a single LP in which they have a common interest. I consider this activity to be akin to a pseudo-market making model: these brokers claiming to be agency brokers are market makers in reality but have simply added a level of separation to obfuscate their activity.

Who are the largest market makers?

The largest market makers are institutional brokers engaged in proprietary trading, such as banks or hedge funds. They are responsible for trading billions or even trillions of dollars worth of assets each day. These companies use their own capital to act as market makers and internalize risk in line with their overall financial strategies.

For example, Flow Traders and Virtu are two large market maker proprietary trading firms (commonly known as prop trading firms). While they don't offer brokerage services to retail clients, there’s a good chance that when you are trading with a broker that sends your order to an exchange, they are the market maker selling to you when you buy (or, buying from you when you sell).

Citadel Securities is another large market maker with a mandate to make markets on the New York Stock Exchange (NYSE) as a designated market maker (DMM). This designation means that for certain securities Citadel has to be willing to be a counterparty to a trade to ensure the market functions properly, and not just to make a profit. In other words, even if everyone else is buying a security and the price is going up, a DMM would have to sell into that buying frenzy as part of its mandate.

Who are the largest crypto market makers?

Some of the larger over-the-counter (OTC) market makers that operate institutional trading desks or offer crypto execution services from their platform to retail and institutional clients in 2024 include the following crypto brokers:

  • Coinbase Pro
  • TradeStation Crypto
  • eToro
  • DRW Cumberland
  • Virtu Financial
  • Citadel Securities
  • Fidelity Crypto (does not disclose LPs)

How do market makers make money?

Market makers make money by capturing the spread (difference between the bid/ask price) on your trade. By exiting their side of the trade and immediately buying back at the asking price, market makers can capture the spread and turn a profit. Alternatively, a market maker broker may hold onto their position on the other side of your trade and internalize the associated risk. This just means that the market maker is willing to weather the risk that comes with holding onto the position to capture potential profits (or losses).

psychology_altDid you know?

Rather than managing each individual trade, a market maker may aggregate the exposure of many trades for a given asset and reduce its positions when a certain risk threshold is reached. Risk may be measured by trade size, average stop-loss order value, or other metrics.

Do market makers trade against you?

Yes; by definition, market makers take a position on the opposite side of your trades – buying when you sell and selling when you buy – but that doesn't mean market makers actively care whether you make or lose money on those trades. It all comes down to how the market maker manages its risk.

In a perfect world where market makers are following the rules and acting ethically, there would be no concern that market makers are actively hoping (or, causing) you to lose money when taking the opposite position in your trade. However, given the potential for a conflict of interest (and the growing number of scam brokers), there have been examples of disingenuous market makers engaging in unfair trade practices over the years, such as stop-loss hunting or asymmetrical slippage.

Every market maker wants to make money, so it's crucial that you only use highly trusted brokers to ensure that your interests are aligned and that they are not trading against you on purpose. The key is to understand their available execution methods and trading costs and to find a broker that can handle your trading needs.

taxi_alertPSA:

Even reputable brokers may have risk management strategies for different client groups and move your account to a different execution method if they cannot manage your needs in a manner that is consistently profitable to them. It's important to understand your broker’s terms and conditions and the scope of options available to you if a dispute arises related to trade execution.

What is an ECN forex broker?

The Electronic Communications Network, or ECN, is a computerized and centralized order book where clients are automatically matched and the size of each order is visible to all parties. While this has worked to a certain degree in other asset classes, like crypto exchanges, for forex markets they have largely failed to attract meaningful volumes except for a few real ECN trading venues (i.e., LMAX, which is regulated as an exchange).

The main concern for traders using an ECN model is that slippage can have a more significant impact on market prices due to limited volumes at the top of book prices (orders occurring at current market prices). As a result, a large market order that cannot be completely filled at the current price will experience partial fills at progressively worse prices.

sync_problemWhat about crypto order books?

These challenges are also observed with a decentralized order book such as an automated market maker (AMM) on a Decentralized Exchange (DEX) like Uniswap. If not enough liquidity is present when a large order hits a DEX, it can cause slippage that is proportional to the trade size despite an attempt to track an underlying benchmark or external price.

What is the difference between market makers and ECN brokers?

Market makers are actively establishing the market prices where they are dealing for traders, while an ECN is a place where traders can place orders in the hope they will be automatically filled by other matching orders or market makers also trading on the platform.

The main difference is that on an ECN, if you don't have enough liquidity and orders available for a proper depth of book, your market order could get filled at a worse price if the full amount isn’t available at the current spot price.

A market maker broker will usually handle this issue by placing limits on the number of orders you can execute in an automated manner, in addition to maximum position limits per asset or a limit on the overall number of orders you can place at any one time.

What are the advantages of trading with a market maker?

The biggest advantage to trading with a market maker is that you will likely have less slippage and fewer rejected orders, compared to agency execution. A market maker broker establishes the market prices and executes your orders directly rather than relying on a third party.

The market maker is also ultimately responsible for itself when it comes to trade execution. By contrast, any issues that arise with an agency broker could be out of their control as they may blame the external market makers they are using (i.e., the liquidity provider or execution venue they passed your trade to for fulfillment).

What are the disadvantages of trading with a market maker?

The biggest disadvantage of trading with a market maker is that if you're consistently making money, there is a chance that your execution quality could suffer if the broker decides to move you to a different client group. Not all market maker brokers will do this, and the decision to move you will depend on the terms and conditions for your account, the size of your profits and overall trading balance, and (perhaps most importantly) how the broker manages its risk.

This same disadvantage may exist when you are dealing with an agency broker. When your trade is sent to a third-party market maker for execution, the agency broker can also run into the same issues that might cause the market maker to alter the execution quality.

ForexBrokers.com 2024 Overall Rankings

Now that you've seen our picks for the best market maker forex brokers, check out the ForexBrokers.com Overall Rankings. We've evaluated over 60 forex brokers, using a testing methodology that's based on 100+ data-driven variables and thousands of data points. Check out our full-length, in-depth forex broker reviews.

Company Overall Rating Offering of Investments Commissions & Fees Platform & Tools Research Education Mobile Trading Trust Score Visit Site
IG logoIG 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 99 Visit Site
Interactive Brokers logoInteractive Brokers 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 99 Visit Site
Saxo logoSaxo 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 4/5 Stars 5/5 Stars 99
CMC Markets logoCMC Markets 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 5/5 Stars 4.5/5 Stars 5/5 Stars 99
FOREX.com logoFOREX.com 5/5 Stars 5/5 Stars 4.5/5 Stars 5/5 Stars 4.5/5 Stars 5/5 Stars 5/5 Stars 99 Visit Site
TD Ameritrade logoTD Ameritrade 5/5 Stars 5/5 Stars 4/5 Stars 5/5 Stars 4.5/5 Stars 4.5/5 Stars 5/5 Stars 99
City Index logoCity Index 5/5 Stars 5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 5/5 Stars 99
XTB logoXTB 5/5 Stars 5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 96
eToro logoeToro 4.5/5 Stars 5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 90
Swissquote logoSwissquote 4.5/5 Stars 5/5 Stars 3.5/5 Stars 4.5/5 Stars 4.5/5 Stars 4/5 Stars 4.5/5 Stars 99
Capital.com logoCapital.com 4.5/5 Stars 4.5/5 Stars 5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 87
AvaTrade logoAvaTrade 4.5/5 Stars 4/5 Stars 4.5/5 Stars 4.5/5 Stars 4/5 Stars 5/5 Stars 4.5/5 Stars 94
Plus500 logoPlus500 4.5/5 Stars 4/5 Stars 4.5/5 Stars 4.5/5 Stars 4/5 Stars 3.5/5 Stars 4.5/5 Stars 99
OANDA logoOANDA 4.5/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 5/5 Stars 4/5 Stars 4.5/5 Stars 93
FXCM logoFXCM 4.5/5 Stars 3.5/5 Stars 4/5 Stars 5/5 Stars 4.5/5 Stars 4/5 Stars 4.5/5 Stars 95
Admirals logoAdmirals 4.5/5 Stars 4.5/5 Stars 4.5/5 Stars 4/5 Stars 4/5 Stars 4.5/5 Stars 4/5 Stars 93
Pepperstone logoPepperstone 4.5/5 Stars 4/5 Stars 4.5/5 Stars 4/5 Stars 4.5/5 Stars 4/5 Stars 4/5 Stars 95
XM Group logoXM Group 4.5/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 5/5 Stars 4.5/5 Stars 4/5 Stars 88
FP Markets logoFP Markets 4.5/5 Stars 4.5/5 Stars 5/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 87
FxPro logoFxPro 4.5/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4.5/5 Stars 90
IC Markets logoIC Markets 4.5/5 Stars 4.5/5 Stars 5/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 84
Markets.com logoMarkets.com 4.5/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 96
Tickmill logoTickmill 4.5/5 Stars 3.5/5 Stars 5/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 86
Fineco Bank logoFineco Bank 4.5/5 Stars 4.5/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 94
BlackBull Markets logoBlackBull Markets 4/5 Stars 5/5 Stars 4.5/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 78
Vantage logoVantage 4/5 Stars 3.5/5 Stars 4.5/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 90
HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets) 4/5 Stars 4/5 Stars 4.5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 88
HFM logoHFM 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 86
ThinkMarkets logoThinkMarkets 4/5 Stars 4.5/5 Stars 3.5/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 92
FlowBank logoFlowBank 4/5 Stars 5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 80
DooPrime logoDooPrime 4/5 Stars 5/5 Stars 3/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 83
Trading 212 logoTrading 212 4/5 Stars 5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 79
BDSwiss logoBDSwiss 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 76
Trade Nation logoTrade Nation 4/5 Stars 3.5/5 Stars 4.5/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 85
TMGM logoTMGM 4/5 Stars 4.5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 83
Moneta Markets logoMoneta Markets 4/5 Stars 4/5 Stars 4.5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 72
Eightcap logoEightcap 4/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 85
MultiBank logoMultiBank 4/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 84
ACY Securities logoACY Securities 4/5 Stars 4/5 Stars 4.5/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 75
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) 4/5 Stars 5/5 Stars 3.5/5 Stars 4/5 Stars 3.5/5 Stars 3/5 Stars 4/5 Stars 71
VT Markets logoVT Markets 4/5 Stars 3.5/5 Stars 4.5/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 70
easyMarkets logoeasyMarkets 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 80
IronFX logoIronFX 4/5 Stars 3.5/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 83
Spreadex logoSpreadex 4/5 Stars 5/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 71
IFC Markets logoIFC Markets 4/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 67
Trade360 logoTrade360 4/5 Stars 4/5 Stars 3/5 Stars 4/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 76
Octa logoOcta 4/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 70
Axi logoAxi 4/5 Stars 3.5/5 Stars 4/5 Stars 3.5/5 Stars 3/5 Stars 4/5 Stars 3.5/5 Stars 81
TeleTrade logoTeleTrade 4/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 3/5 Stars 4/5 Stars 71
GKFX logoGKFX 4/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 65
Vestle logoVestle 4/5 Stars 3.5/5 Stars 3/5 Stars 4/5 Stars 3.5/5 Stars 3/5 Stars 4/5 Stars 78
FXOpen logoFXOpen 3.5/5 Stars 3/5 Stars 4/5 Stars 4/5 Stars 3/5 Stars 3/5 Stars 4/5 Stars 80
FXPrimus logoFXPrimus 3.5/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 3/5 Stars 3.5/5 Stars 4/5 Stars 71
Forex4you logoForex4you 3.5/5 Stars 3.5/5 Stars 3.5/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 61
GBE brokers logoGBE brokers 3.5/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 3/5 Stars 3/5 Stars 4/5 Stars 71
Alpari logoAlpari 3.5/5 Stars 3/5 Stars 4/5 Stars 4/5 Stars 3/5 Stars 3.5/5 Stars 4/5 Stars 68
TopFX logoTopFX 3.5/5 Stars 3.5/5 Stars 4/5 Stars 4/5 Stars 3/5 Stars 3/5 Stars 4/5 Stars 67
Libertex (Forex Club) logoLibertex (Forex Club) 3.5/5 Stars 3.5/5 Stars 3/5 Stars 4/5 Stars 3/5 Stars 3/5 Stars 4/5 Stars 73
LegacyFX logoLegacyFX 3.5/5 Stars 3.5/5 Stars 3.5/5 Stars 3.5/5 Stars 3.5/5 Stars 3.5/5 Stars 3.5/5 Stars 67
FXGT.com logoFXGT.com 3.5/5 Stars 3/5 Stars 3.5/5 Stars 3.5/5 Stars 3/5 Stars 3/5 Stars 3.5/5 Stars 69
ATFX logoATFX 3.5/5 Stars 3.5/5 Stars 3/5 Stars 3.5/5 Stars 3/5 Stars 4/5 Stars 3.5/5 Stars 73
Xtrade logoXtrade 3.5/5 Stars 3.5/5 Stars 2.5/5 Stars 3/5 Stars 3/5 Stars 3.5/5 Stars 3/5 Stars 80

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About the Editorial Team

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for 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).

Jeff Anberg
Jeff Anberg

Jeff Anberg is a Staff Editor at ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.

Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for 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.

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