Forex Brokers List
We’ve compiled a list of online Forex brokers, this is not an exhaustive list of brokers by any means, but it does contain a good cross section of brokers including some of the biggest players and some smaller specialist brokers.
Some are good some are bad; we’ve rated them for the quality of their trading platforms, training and support services. We’ve also given an indication what kind of traders each broker will suit, so check out the list below and you’ll be sure to find a broker that’s suitable for you.
 EasyForex were created in 2003 to help make Forex trading simple. They developed an easy to use platform that did away with all the complicated language normally associated with Forex trading and replaced it with easy to follow simple instructions.
Whilst this is admirable in reality it’s not backed up with a level of support that’s required for new traders. Customer service is slow to respond at busy times of the day and their trading platform shows noticeable lag during key periods.
Pros
- Easy to use platform
- Friendly employees
Cons
- Wide spreads
- Unreliable platform during busy periods
- Customer service can become overwhelmed at busy times of the day
Recommended For: Beginners
 Zecco are famous for their stock trading where they made a name for themselves by offering zero commission trades.
They are relatively new to the Forex market however and make use of Gain capitals Forex platform. This is a shame because it’s not up to the standard of their stock trading platform.
They still offer one of the best trading communities around however, you’re sure to learn enough to develop your own profitable strategy if you’re a beginner.
Pros
- Excellent training materials
- Superb trading community
Cons
- Not the best customer service
- Platform not up to the standard of their stock trading platform
Recommended For: Beginners
 eToro are one of the newer Forex brokers but they sure know how to make a name for themselves. They have one of the easiest to use platforms around; developed specifically for beginners it’s both intuitive and efficient.
Add to that an excellent Facebook style trading community which enables you to follow along with more experienced traders, and you have an excellent broker for beginners to learn how to trade profitably.
Their trading platform doesn’t have some of the more sophisticated tools an experienced Forex trader would expect. But this is a broker that knows its market and has developed its platform and tools accordingly.
Pros
- Excellent trading platform
- First class training materials
- Facebook style trading community
- Ability to follow other members trades
Cons
- Not enough tools to satisfy experienced traders
Recommended For: Beginners, Intermediate Traders
 InstaForex is a broker based in the British Virgin Islands, which means they aren’t regulated by US authorities. They’ve proved popular in Asia because of the option to open an Islamist swap-free account.
There have been many complaints leveled at this company however; there are reports of money going missing, an unreliable platform, inconsistent spreads and trades being reversed for no reason.
Pros
- $100 deposit to open account
Cons
- Appalling customer service
- Platform has poor execution speed
- Inconsistent spreads
Recommended For: Not Recommended
 AVAFX is a small broker with a big heart, they make use of the excellent MetaTrade 4 platform so you can expect a reliable platform with good charting and execution speed.
They are a small broker however, so their training isn’t quite up to scratch, especially since their target market is beginners. They only have a small customer service team as well, which can very quickly become overwhelmed during busy periods.
Pros
- Excellent MetaTrader 4 platform
- Platform available in multiple languages
Cons
- Inconsistent customer service
- Poor training and education
Recommended For: Beginners
 LiteForex is a small broker based in Cyprus, their trading platform is based on the excellent MetaTrader 4 platform, the MetaTrader 5 platform is available to download if you require it.
As a result you can expect a nice selection of tools and reliable charting. This is not a professional level platform so day traders and scalpers will need to look elsewhere.
There have been issues reported with this broker; claims of slow execution times resulting in re-quotes mean many unsatisfied customers. You have to take some of these complaints with a pinch of salt as many traders like to blame their broker for their losses, but there are so many complaints with LiteForex that we have to take them seriously.
Pros
- MetaTrader 4/5 platform
- No account management or withdrawal fees
- Multilingual platform
Cons
- Large spreads on popular currency pairs
- Poor customer service (email response took more than a week)
- Execution is slow sometimes as high as 30 seconds resulting in many re-quotes
Recommended For: Not Recommended
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