Forex Brokers Reviews

Forex brokers are vital for both retail and institutional Forex traders success and it’s also very important to trade using a reliable trading platform. Forex trading is not restricted to professional traders or a few specially chosen people in the market. And top rated FX brokers are able to cater to a wide variety of needs, beginners and amateurs included. All Forex brokers, both good and bad, are free to be used by any trader, regardless of their experience, budget, or type of investment. 

The way to find the best and most reliable Forex brokers is to find good resources for honest opinion and trading experience in order to take good and bad brokerage apart. In this section we collect all online Forex trading companies in one big list with their details rated and discussed. Finding the reliable broker to trade with is not so difficult anywhere because with the right knowledge you can filter out the bad seeds out of the top rated Forex brokers in the fx industry in the matter of seconds. The agenda in this section is to bring awareness about all types of forex brokers in the industry, compare their trading conditions to generally accepted standard of good conduct among such firms and choose best Forex brokers to trade with for both experienced an beginner traders today. Within the following list you can find platforms that are scam, along side with recommended and highly reputable brokerages.

How Do We Decide Which Ones are Best Forex Sites and Which Ones are Fraud

The main agenda for this resource has always been to provide a reliable Forex trading broker guide. There are just too many firms offering their services and without proper guidance it is almost impossible to figure out who is playing by the rules, and which one is scamming their customers. At the first glance, most brokers look reliable and attractive, however in some cases after trying out the platform, checking out the features, researching about each and every broker, receiving feedbacks from real traders, you can filter the top Forex brokers from the bad apples.

We are a team of experienced traders with over 10 years of experience in the industry. We have seen it all, traded with many, got burned by rotten Forex brokers, profited with the secure ones. Our experts of traders have the right set of mind and understanding of the industry in order to identify and rate the available material and present it to the public. 

As we rate all of the listed Forex trading broker, we make sure to research about their reputation among other traders online. We need the real comments and feedback from people who have experience with the platforms in order to create reliable information for those who seek genuine reviews. We collect the general information, verify the facts listed on each brokers' website, follow up with the customers who have traded or are currently using each and every broker.

At the end we have this section of review Forex Brokers from various countries including US, UK, Australia, France, Germany, South Africa, India, Cyprus, Spain and more.  This is an ultimate guide and hand-picked collection of information and rating from our team of experts and other traders like yourself, so make a best use of it!  

If you have experience with any of the listed online brokers below, please leave your own Forex Broker review to grow the awareness and help other traders to make the right choice.

Importance and Purpose Of Forex Broker Reviews And How We Review Forex Trading Companies Listed Here

Forex brokers reviews are created to list down the performance, level of trust, customer satisfaction and overall grade of a broker. In order to make proper assessment of the available information you get from the websites, feedbacks, forums and social media, you have to understand the industry and the market really well. In other words, you have to be an experienced trader with significant amount of trading hours to support your claims and expectations.

At Forex Explore we stand by fairness and unbiased Forex broker rating and opinion. Each review consists of not only the advantages of each broker but reviews negative points and the lack of certain features you would expect a Forex trading broker to have. We make sure to follow Forex review checklist with every broker in question to create quality information for our viewers and reliable resource of brokers yellow pages of a sort.

 

All of the available Forex trading brokers reviews are conducted by expert traders and market reviewers who are strongly involved in currency market for many years. Our overall experience in trading and investment gives us over the top understanding of how brokers should do business and what information is relevant when it comes to choosing the best Forex broker in the industry today for forex or bitcoin crypto trading.

The Best Forex Brokers – How to Select A Top Rated Forex Broker from the Database

the best forex brokersWhether you are searching for reliable Forex broker or your prime agenda is to analyse a complete list of all the top rated trading brokers available today online - the task to too great and time consuming to do it on your own from the very beginning. There are just way too many brokers governing the internet at this point.

For a complete beginner in the currency trading, this can be a huge turn off. While you still don't have proper knowledge and experience to determine whether the broker is good or scam. Therefore the following section is a deal come true, because here you can find all that broker review pros and cons you have been searching for to help you investigate and choose the right brokerage from the huge bunch.

 

fxprimus review

Located in Cyprus and regulated by Cysec, FX Primus opened its doors to traders back in 1999. All trading styles are welcomed, minimum deposit is $100, leverage up to 1:500. Payment options include Neteller and Skrill among others.

FxPro ReviewFxPro provides trading services, latest currency press releases and online trading tutorials with comprehensive learning guide. The broker brings the variety of trading platforms, 24/5 support in various languages and a set of competitive trading tools. FxPro offers no dealing desk with straight-through-processing of the orders to market without price manipulation.

fxsolutions forex broker disabledFXSolutions stopped its brokerage services as of March 2013.

The existing clients have been transferred to forex.com broker. You can find the review of forex.com broker in our directory for further information. The FXsolutions website is redirecting to CityIndex broker.

closed broker GFTGFT Forex discontinued it's services and transferred all clients to Gain Capital (Forex.com) broker.  

GKFX Review screenshotEstablished in 2010, GKFX forex broker offers forex, equities, indices and commodities trading with tight spreads and fast execution. Located in London, GKFX is regulated by FCA, JFSA in Japan and other local regulatory bodies.

Grandcapital broker review

Established back in 2006, GrandCapital is one of the reputable brokers with professional yet user-friendly trading platform and attractive trading conditions including 500:1 leverage, minimum deposit of just $10, tight spreads starting from 1 pips on majors and wide selection of updated bonus offers.

gtoptions broker reviewGTOptions has shut it's doors to all traders in 2016.

Established in 2011, GTOptions is a leading broker in binary options trading with a cutting-edge trading platform suitable for both new and experienced traders worldwide. The broker accepts clients from all over the world, including US.

harvestmarkets reviewsHavest Markets broker has been established in 2017 and is regulated by FSA. The broker offers ECN processing via Metatrader 4 and Webtrader platforms. Minimum deposit is $10, various payment methods include most favorite among traders Skrill and Neteller.

HDFOREX ReviewGeorgian forex broker HDforex, established in 2015, offers STP ECN trading environment with 50 currency pairs and $500 minimum deposit. Trading platforms include Metatrader 4 and in-house HDFOREX. Binary options are also available. At the moment of the review, the broker offered bonus of up to 100%.

Hotforex Broker ReviewsHeadquartered in Mauritius, Hotforex brings various account types, wide selection of trading software and outstanding features for ultimate trading experience for individuals, fund managers and institutions. With the access to interbank spreads and liquidity, this award-winning broker brings unparalleled, regulated trading experience suitable for any type of trading style including scalping and expert advisors, and challenges other brokers in outstanding performance and innovative features.

House of Borse ReviewHouse of Borse is regulated ECN broker with extremely high minimum deposit requirement of $25,000. MetaTrader 4 platform, spreads from 0.3 and there is commission of $45 per $1 million traded. There are 50 currency pairs.

hymarkets HYCM ReviewEstablished as a division of Henyep Group with over 30 years of experience in financial industry, HYCM (previously known under the name HYMarkets) is located in London, with other representative offices in United Arab Emirates, Cyprus and Hong Kong. The broker is regulated by UK Financial Conduct Authority. Metatrader 4 platform with minimum deposit of $100. The broker is market marker without ECN environment.

Hydra Markets ReviewHydra Markets’s been established in 2016 and is located in Georgia. Maximum leverage of 1:1,000 and minimum deposit requirement of $100, the broker offers forex trading services for 120+ currency pairs. Available payment options include Skrill, Neteller, Visa and Master cards. Minimum spreads on majors such as EUR/USD is just 0.5.

This Forex Broker is marked as scam and is no longer accessible.

Austria-based broker, online since 2013, with attractive opportunity for investors worldwide. Over 23 million dollars of client assets, intuitive platform, experienced analytics and attractive profit opportunity. Minimum deposit of $3,000.

scam forex brokerScam Alert: The broker has ceased its operation and is no longer accessible.

disabled forex brokerNote: IBFX has ceased its activity as a forex broker. All existing clients have been transferred to FXCM forex broker.

forex broker out of businessNote: iClickNTrade has discontinued it's trading services. The broker's website is redirecting to Fortress Capital.

iforex reviewFounded in 1996, iForex provides financial brokerage services and is committed to quality and technological innovations. Acting as a dealing room, the broker gains access to market products such as forex, CFDs and commodity via its flexible and user-friendly platforms available in both download and web-based versions.

igofx broker reviewVanuatu based forex broker, online since 2009 with several trading accounts to choose from, minimum deposit requirement of just $1 and small selection of payment methods – wire, credit cards and prefect money. Igofx is currently unregulated broker, since it lost it’s New Zealand license back in 2014 and didn’t reclaim it back.

infinox reviewUK regulated broker, rebranded twice! Started as VantageFX, continued as GoMarkets and since 2016 is officially called Infinox. Lots of currency pairs, STP/ECN accounts, minimum deposit $100, MetaTrader 4 platform.

Instaforex Broker Review

Top Forex Broker

InstaForex is one of the leading and reputable online forex brokers today with many yearly outstanding awards from respected sources such as ShowFX World, International Expos and IAIR. Among many advantages of the broker, you get the whooping leverage of up to 1,000:1, minimum deposit of just $1, ForexCopy system which allows you to follow trades of others in real time, 107 currency pairs to choose from, ECN broker services with competitive spreads for all available trading instruments. There are many payment methods for funding and withdraw, including Instaforex MasterCard. +Open Trading Account  

invast broker reviewsAustralia-based, regulated Invast Global broker targets institutional and professional traders, hence the minimum deposit requirement of $25,000.  That is one of the highest minimum deposit that an online forex broker would request. Unlike the overwhelmingly high minimum deposit, the broker offers rather low maximum leverage of just 1:100.  Another extremely inconvenient feature, or shall we say, lack of – is the payment method which only includes wire transfer as an available deposit and withdrawal solution. ECN execution, competitive spreads.

ironfx screenshotEstablished in 2010, IronFX is one of the fast-expanding online brokers today. The brokerage is connected to widely known brokers such as ACM and FXPro and is one of the first brokers to obtain regulation by major authority bodies such as CySEC, ASIC, MiFID and FCA. Just recently World Finance magazine awarded IronFX with a title of “ Best FX Newcomer”. The broker operates a STP and ECN with many account types and several platform options including MetaTrader 4, mobile version and web-based interface.

forex fraudWARNING: ITCFX has ceased it's financial services due to fraud.

itrader review screenshotCyprus-based regulated broker, established in 2012 with over 50 currency pairs to choose from. USA traders are not accepted. Minimum deposit is $250, demo account is available, broker is not ECN. Islamic accounts are available, leverage up to 500:1. Payment methods – only wire and credit cards.

JCMFX ReviewFounded in 2015, JCMFX is located in London and is a proud forex trading provider to 10,000 Real Accounts. The broker has grown to a large and well established international investment firm and aims to become true leader in the industry.

juno markets screenshotFounded by traders, Juno Markets sets to deliver superior trading environment, transparency and personal service to its customers. Headquartered in New Zealand, Juno Markets roots its name to the Roman goddess Juno Moneta, the protector of funds. The broker is regulated by FSP in New Zealand.

kigeworld broker reviewSituated in Signapure, KGIeworld is wholly-owned subsidiary of KGI Securities Co.Ltd., one of the largest securities company in Taiwan established back in 1988 as a financial service provider in Asia-Pacific region. The broker is regulated by Monetary Authority of Singapore (MAS).

larsonholz reviewLarson&Holz forex trading broker is online since 2004 with various jaw-dropping awards from prestigious financial organizations. Minimum deposit of $250, payment options include wire, credit cards and neteller, most beloved trading platform MetaTrader 4 in desktop, web and mobile version with binary trading feature.

lcg ReviewUK-based, FCA regulated broker, established back in 2005 as a spread betting provider. Currently, the broker offers more than 60 currency pairs, and various other trading instruments. There is Metatrader 4 platform and in-house LCG Trader web-based platform available only for ECN accounts. Minimum deposit requirement is $1 and leverage is up to 1:500.

legaxyfx ReviewBroker with several account types, relatively high spreads and average leverage options. During the review, we were unable to locate the commission structure for ECN account anywhere on the site. The company the broker belongs to is registered in Cyprus, however there is no mentioning of the regulation by CySEC. Although LegacyFX claims to be regulated, at the time of this review, the broker was not found with main regulation authorities.

Liteforex Broker Review

Liteforex has been a reputable, safe and well-known forex broker around the world since 2005. The main purpose of the broker is to make currency trading available for any trader. There is an option of cent accounts for an initial deposit of just $10.

It is easy to start with Liteforex – the registration process takes only couple of minutes. There are plenty of payment methods to choose from, allowing you the full range of flexibility when it comes to deposits and withdrawals. Both new and existing traders receive special treatment with wide variety of unique bonuses and promotions. Open Trading Account

LMFX screenshot LMFX has joined the forex arena in 2015 as an online foreign exchange broker with retail trading conditions, security and MetaTrader 4 platform available both in desktop and web versions.

forex broker disabledNote: Londonfx has ceased to provide trading services. The broker is out of business.

 

LQDFX ReviewLQDFX broker is situated in Marshal Islands and was established in 2015. This STP broker is not regulated at the moment. Clents funds are kept in segregated accounts. Minimum deposit requirement is $20, maximum leverage 1:200. Lots of account types including Islamic accounts and lots of payment options including Skrill, Paypal and Neteller.

mahifx ReviewEstablished in early February 2012, MahiFX is a market maker brokerage, which brings ASIC (Australia) regulated forex trading environment in 30 languages with tight spreads and cutting-edge interface on one of the most wanted trading platforms MetaTrader 4.

Markets Yes ReviewUnregulated offshore broker located in Vanuatu with minimum deposit requirement of $250, 20:1 leverage, unclear spreads for basic and standard accounts, no obvious link to demo account and scarce payment options.

Markets.com Review

Established in 2009, Markets.com has earned its trustworthy reputation with the outstanding performance, competitive trading conditions and transparency. The minimum deposit requirement for the mini account is $100. There are several other account types to choose from are Standard and VIP. The broker is regulated and EU licensed, offering high safety standards to both beginners and advanced traders.

Scam Forex Broker

SCAM ALERT: MasterForex discontinued its services. The broker's website is offline.

MBATrade ReviewMBATrade is an UK, unregulated forex broker, established in 2016. Trading services are offered with minimum deposit requirement of $10, maximum leverage of 1:500 and wide range of trading instruments with either fixed or variable spreads. Demo account is available for practice. Trading platform is MetaTrader 4, both desktop and mobile version. 

megatraderfx review

Note: Megatrader fx broker was offline for large portion of 2017, redirecting to XM.com broker. At the moment the broker is back online.

 

MEX Exchange Review

Regulated Australian forex broker MEX Exchange offers forex, metals, stocks and CFDs trading services. Minimum deposit requirement $25, leverage up to 1:500, minimum trade size 0.01 lot, MetaTrader 4 platform. 

MFX Capital Forex BrokerScam alert: The broker is linked to MFX Broker with very problematic reputation.

Located in Russia, MFX Capital has been operating since 2006 y Master Services. The broker has been rebranded from MFX Broker, scam and fraud activity was present at the time of its activity. At the moment, the broker's website lacks all kind of necessary information. There is no physical address, no phone number, no online chat available. There are no details apart from minimum deposit which is $250 and MAM accounts - the only account types available with the broker now. We advise not to deposit with this broker.

migbank reviewNote: The broker is disabled and the website redirects to Swissquote.

Mocaz Financial Markets ReviewMocaz Financial Markets has been established in 2011. This is STP and ECN, unregulated forex broker with spreads as low as 2 pips. Maximum leverage is up to 300:1 and minimum deposit is $10. 

mtnfx screenshotAs an introducing broker for PriorFX, MTNFX has been established in early 2015 and offers online trading services with competitive spreads and multilingual support by skilled representatives. The broker works on STP/ECN model with no Dealing Desk intervention.

mxtrade ReviewLocated in Malta, MXTrade is online forex broker owned by Grizzly Limited, serving clients from over 140 countries around the globe. The broker was established in 2015 and doesn't possess any regulation at the moment. Minimum deposit is $250.

Neferma ReviewNeferma is Denmark located, unregulated ECN forex broker with Cent, Classic, Demo and Islamic accounts, fixed spreads starting from 2 pips and maximum leverage  up to 1:500. Broker offers plenty payment options including Neteller, Skrill and Webmoney.

Forex Regulation in New Zealand

In New Zealand, you have a selection of 3 regulatory bodies - FSPR, FSCL and FMA. Despite the abundance, none of the authorities are in charge of New Zealand Forex brokers. Interestingly enough, brokers are demanded to complete pretty simple registration process in order to be involved in financial world and provide services. With that in mind, we can openly mention that Forex trading in New Zealand is not strictly supervised by any of the available regulatory bodies for better or for worse of it.

So who receives the registrations of the business entities that wish to provide financial services? It is called Financial Service Providers Register FSPR and all NZ Best Forex brokers are registered with it.

New Zealand Forex brokers list:

   

New Zealand BrokerRatingDemoLeverageBonusPlatformsMin DepositPayments
Tifia1yes1:1,000Metatrader 4, webtrader10wire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay
FXOpen1yes1:500$100MetaTrader 41Wire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney
Mahi FX1yes1:100Metatrader 4, MahiFX1wire transfer, credit cards
XCFD1yes1:10050% welcome bonus in-house XCFD10credit cards, skrill, webmoney, giropay, unionpay, sofort, neteller, bitcoin, wire transfer

Whether you live in the country or you are a Forex trader who is searching for safe place for your financial trading activities and profit opportunities, New Zealand possess the face of straight forward, strong and reliable country where financial trading might be just the right decision. What else do we know about Forex in New Zealand and how can this help you make the decision when choosing the brokerage to trade at? So new forex traders from New Zealand or abroad, listen up for the information to come.  useful, too!

Forex Trading In New Zealand – Basic information for beginners

New Zealand Forex Brokers

Forex trading in New Zealand is not any different from other countries like Cyprus, UK, and Australia. So if you are into currency trading, the rules and ideas in New Zealand are pretty much the same as anywhere in the world.

You can make a deposit or trade with your demo account for a while, find suitable Forex strategy and apply it in day to day trading and local New Zealand conditions are not going to stop you from it! It is, however, always wise to keep updated regarding New Zealand rules and regulations about Forex trading before you start your profitable adventures. Find out all the details your broker has written in small letters, do your homework in advance, beware of limitations if any and where to turn in case of fraud.

You have various choices when it comes to trading Forex based in New Zealand. Choose the methods and strategies that work for you the best and select the brokerage firm that allows you to do exactly that. The right kind of broker is your gate way to increased daily and monthly profits and easy withdrawals.

nsfx screenshotEstablished in early 2012, NSFX.com is a regulated broker with vast understanding in finance, technology and innovation. Relatively new in the forex industry, NSFX stands strong among the competition as a reputable forex and ECN broker. Throughout easy-to-navigate and informative website, NSFX reviews its features and services in a comprehensive manner.