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.


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, 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.

oanda broker reviews

Oanda is one of the ‘ancient’ brokers that has been roaming the internet for ages. With wide variety of currency pairs to offer, including exotic currencies such Rupee, the broker opens its doors to traders all over the world, including USA traders.

Octafx Forex Broker ReviewOctaFX is a world-wide registered forex broker with customers in over 100 counties. OctaFX acts in full compliance with international legislation and regulation standards and sets the highest service level standards and maintains them as well as constantly develops new services and promotions.

orbix forex broker

Orbex, previously known as AFB FX, has joined our list after brief rebranding. The broker is licensed by CySEC and is located in Cyprus. With minimum deposit requirement of $500, you can take advantage of tight spreads and outstanding customer support around the clock.

paxforex review sreenshotEstablished in 2011, Paxforex offers forex trading services. USA traders are not accepted. Minimum deposit is just $10, many payment options are available including Skrill, Neteller, WebMoney and others. Favorite trading platform - MetaTrader 4. 

Paperstone Review Australia based broker established in 2010 with regulation from ASIC an FCA (UK). No dealing desk trading environment with ECN spreads. The broker received several awarding titles concerting its outstanding customer support. Minimum deposit at the time of this Pepperstone review was $200, maximum leverage options up to 500:1. Overall good reputation among traders, trading communities and current clients.

plus500 reviewPlus500 is reputable forex broker, authorized and regulated by Financial Conduct Authority. Plus500 offers CFD services. With over million traders, Plus500 is one of the largest and fastest growing brokers today. The in-house trading platform offers unique, easy and outstanding interface performance with low spreads and fast executions.

Note: Your Capital is at Risk.

pricemarkets screenshotEstablished in 2013, Price Markets is online forex trading provider with dynamic approach to investing industry. The broker belongs to Velocity Trade International Liimited and is located in London and is regulated by FCA UK.

Priorfx ReviewPriorFX broker offers easy, fast and convenient online forex trading services. With high processing speed and one of the most trusted trading platform MetaTrader 4, PriorFX offers liquidity and competitive spreads.

probusfx reviewProbusFX is a new broker on the block still working out some of its glitches and lack of information. The broker's website doesn't mention available payment options, although it does say that minimum deposit is $200. The broker is located and regulated in Cyprus and claims market execution with tight spreads (still to be seen if it's true). Live chat didn't work at the time of the review. 

questrade review screenshotCanadian broker for Canadian residents only, established in 1999 and regulated by IIROC. Minimum deposit is $1,000, unsual selection of payment methods without familiar credit card and online payment options. 

rallytrade reviewRallytrade, previously known as Forex Rally,  is an online orex broker established in 2015 and offering online trading services with in-house trading platform, educational resources and daily market analysis. The broker is located in Anguilla with a branch office in Nigeria. The broker is not regulated by any international regulatory bodies.

Range Markets ReviewEstablished in 2015, Range Markets offer forex trading services for currencies, metals and oil instruments. Available trading platform is MetaTrader 4 with 100% credit bonus on your first deposit. Minimum deposit ranges between account types and starts at $100. Maximum leverage is up to 1:500.

realtradeReal Trade has been found in 2003 and is registered forex broker in Latvia. The platform is based on widely accepted MetaTrader 4 with outstanding charting and indicator capabilities. The interface is also available in Mobile version suitable for most smart phones and tablets. You can start trading with as little as $20.

rakuten broker review screenshotHong Kong located broker, established in 1999 under former name FXCM Asia Limited, offers no dealing desk execution with 2 account types. Free demo account is available, minimum deposit requirement is $1. Payment methods long for serious revision, since at the moment of the review, your options are only wire transfer and checks. MetaTrader 4 platform is not offered.

roboforex review screenshotAnother Cyprus-based, regulated broker, online since 2009 with wide selection of payment options, minimum deposit requirement of just $1. Leverage of 1:500, fixed spreads 2 pips on majors, scalping, hedging allowed. Various account types, including micro and cents, demo account available for 90 days. MetaTrader 4 platform and cTrader.

Robomarkets broker ReviewCyprus based an regulated forex broker RoboMarkets offers trading of Forex, Stocks, Indices, ETFs, Soft Commodities, EnergiesMetals, Cryptocurrencies including Bitcoin with minimum deposit of $100 and maximum leverage up to 1:1,000. Various account types allow traders to choose the best suitable trading features and conditions. Trading platforms include Metatrader 4 and various other in-house platforms including Social Trading features where you can copy other traders' choices.

Rubixfx Forex BrokersWith physical location in Australia, Rubix FX is ASIC regulated forex broker with ECN trading services. The broker provides liquidity via top international banks and swears by fast execution and server technology. One thing that caught our attention is very slow download time of the website. In other words, Rubix FX website is painfully slow. It is a definite bad sign in our reviews.

disabled forex brokerThe broker is out of business. 

2015: RVD Markets LTD company announces the initialization procedure of bankruptcy.

Saxo Bank ReviewSince 1992, Saxo Bank brings powerful presence in forex industry by offering competitive pricing and award winning trading platforms. Saxo Bank offers individual traders and institutional clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives. Heavily regulated broker with minimum deposit requirement of $10,000.

simplefx reviews screenshotUnregulated NDD broker, online since 2014, minimum deposit $1, tight spreads, maximum leverage up to 1:400, 60 currency pairs to choose from, MetaTrader 4 platform and in-house web-based platform, wide selection of payment options.

SkyFX Review Scam Broker

2016: Skyfx is shut down by the regulators. The broker is disabled.

February 15, 2016:  Cysec has suspended the license of Trademarker, Ltd.

May 2016:  Cysec has withdrawn the license of SkyFx and ordered the company to return all client funds.


squared financial screenshot

Squared Financial Services has been established back in 2005 and offers full services brokerage services. Located in Dublin, the broker is regulated by Central Bank of Ireland (this means that there is only national legislation at this point). Squared Financial offers it trading services on MetaTrader 4 platform for both professional and institutional market. The liquidity pool is obtained from both Bank and non-Bank sources, creating an access to ECN-style trading.

disabled forex broker

2016 – The website is no longer active, the broker ceased to provide services. merges together with, another brand of Lead Capital Markets. 

stoxmarket screenshotStoxMarkets has been established in 2008 and launched its trading services to traders all over the world with support and guidance needed for beginners and advanced trading features for professional traders.

Swissmarkets Forex BrokerSwiss Markets offers regulated STP trading environment with 70 currency pairs, minimum deposit of $100, tight spreads and Metatrader 4 platform.  Lots of payment options, including Neteller and Skrill.

synergyfx Forex BrokerSynergy FX was established in 2011 and is located in Australia. The broker is regulated by ASIC and provides STP trading conditions. Minimum deposit requirement is quite high - $500. Payments include credit cards, wire transfer and skrill.

disabled forex brokerTadawulFX Forex Broker is out of business.

Originally established in Switzerland back in 2006, Tadawul FX spread its services worldwide, offering regulated, secure and professional brokerage performance. In the beginning of 2012, following other major broker brands such as AvaTrade (formerly Avafx) and (formerly TradingPoint), the broker rebranded to “Liquid Markets” and underwent a complete makeover to match and compete the other leading giants in today’s financial market.


Tallinex reviewsEstablished in 2012, Tallinex offers forex trading services with ECN accounts. Minimum deposit is $100, leverage is up to 1:1,000, payment options include Skrill and Neteller. Demo account is unlimited. Spreads are tight starting from 0.5. In addition there is 100% bonus on each new deposit.

TD AmeriTrade Forex Broker ReviewAmerican Forex broker with 70 currency pairs and minimum deposit requirement of $2,000. Maximum leverage is 1:50, payment methods are limited to only wire transfer. There is not enough information about trading conditions, spreads and other crucial details decent broker should list on its website. 

TegasFX Review

TegasFX, established in 2016 and located in Vanuatu. Locally regulated, the broker offers trading services with MetaTrader 4 platform, minimum deposit requirement is $200, with leverage up to 200:1 and spreads starting from 0.2 pips on EUR/USD.

teletrade screenshotTeletrade is online forex broker with the access to wide range of financial amrkets. There are over 200 representative offices around the globe. Traders can trade Forex, CFDs, commodities, stocks and futures on one of the most reliable trading interfaces in the industry.

TempleFX ReviewTempleFX is regulated UK broker with ECN/STP performance. Minimum deposit requirement is $50, maximum leverage of 1:400, two platforms – MetaTrader 4 and TempleFX Trader.

tenkofx screenshotTenkoFX is online forex broker offering trading services in biggest financial markets with tools and trading conditions necessary to help you make money. At TenkoFX the primary goal is to bring you the stable and successful trading experience on a daily basis. TenkoFX provides technology and services to enable you to access the Forex and CFD commodity markets.

TeraFX ReviewTeraFX is a No Dealing Desk regulated broker offering trading services in more than 60 currency pairs, Index CFDs, and metals. Minimum deposit requirement is $100, payment methods include Skrill, Neteller and UnionPay.

tfifx screenshot

Established in 1999, TFiFX broker is one of the reliable and reputable brokers, regulated by MiFID, CySEC and CBC. TfiFX offers trading services with forex, indices, stocks and commodities for beginners and experienced traders. With minimum deposit requirement of $50, you have access to unlimited demo account and professional life accounts with advanced features in English, Russian, Japanese, Italian and Greek languages.

 disabled forex brokerThreeTrades has been disabled and the website redirects to 200forexcashback.


tickmill screenshotLocated in the Republic of Seychelles, Tickmill is regulated forex broker focusing its services on forex, stocks, indices, commodities, CFDs and precious metals. With clients all over the world, the broker strives to provide transparency, security and competitive trading conditions.

Tifia screenshotTifia forex broker has been established in 2014 and offers trading services with minimum deposit of just $10. The broker is regulated by Nanuatu Financial Services Commission VFSC.

tigerwit forex broker reviewsChina-based forex broker, regulated by Securities Commissions of the Bahamas, Tigerwit enters the forex trading arena with web-based and App social trading platform. With minimum deposit of just $50 you can access to 60+ currency pairs and social trading capabilities. Traders can choose a so-called Master, based on that person’s recent performance, yielding stats, risks and trading style. The broker still lacks online support and various payment methods. The only payment options available at the time of the review is Unionpay and wire transfer.

TIX FX ReviewTIXfx minimum deposit is $500, maximum leverage 300:1, Metatrader 4 platform. Broker has been established in 2014 and is currently not regulated. US traders are not accepted. 

TMS review

Established in 1997, TMS Europe broker offers trading services with over 40 currency pairs, fixed spreads starting from 1.2 pips. The broker is regulated but doesn't provide ECN execution and might be following market maker model. Minimum deposit is just $1, maximum leverage 1:200. Swap free Islamic account are not allowed. Skrill is one of the available payment methods. 

topprofx review screenshot2018 - This broker is out of business.

Unregulated forex broker, located in Dominica and online since 2014, Top Pro Market offers several trading accounts and starting deposit requirement of just $10. Maximum leverage of 1:1000 and MetaTrader 4 platform.

trade360 screenshotRegulated by CySEC, Trade360, also referred to as Crowd Trade, a unique feature to see movement made by majority of traders via special in-house algorithm. Minimum deposit with this broker is $100, and you have Skrill and Neteller as one of the payment methods. 

tradeo broker reviewsCyprus-based broker, online since 2011 and regulated by CySEC. No dealing desk broker with forex stocks, commodities and indices at the click of the finger. MetaTrader 4 and in-house Tradeo web-based platform offers social trading experience with follow-copy features. Minimum deposit $250, maximum leverage 1:200. Payment options include Skrill, Neteller, wire transfer and credit cards.

Trader.Online Check - Should you trade with Trader.Online?

General features and Location 

Trader.Online Forex broker is a newly established broker which has gained popularity in a short span of time, thanks to its innovative platform. The broker is set to become one of the leading forex brokers in the industry if it continues to maintain a fast and rewarding trading experience for traders around the globe. It also aims at providing an array of financial instruments on its user-friendly trading platform. 

From their website, it can be learnt that financial services of this broker are provided by Zolarex Ltd Company. Trader.Online Forex broker is operated by Zola Ltd and its registered office is in Sofia District. The website is not regulated yet but they ensure security on their platform as they have security badges and they also provide with tips on how to secure your account online. 

With over 27,000 active traders online, the broker is definitely going to impress users with their user-friendly nature, and variety of assets. As soon as you hop on their website, you will be acquainted with the different services they offer and things they have in store - by providing an idea of their different subsections on the homepage itself. 

The different Account Types offered by the broker




$250 - $2,499

$2,500 - $9,999

$10,000 - $49,000

Up to 25% Welcome Bonus

Up to 50% Welcome Bonus

Up to 75% Welcome Bonus

24/7 Customer Support

24/7 Customer Support

24/7 Customer Support

Regular promotional emails

Regular promotional emails

Regular promotional emails

Weekly market update

Weekly market update

Entitlement to regular webinars

Entitlement to regular webinars

Entitlement to regular webinars

Personal Customer Success Manager

Personal Customer Success Manager

Personal Customer Success Manager

Advanced charting tools


Charting tools

Daily market updates



Regular eBook and guides on Forex


This broker offers 3 types of account types to its traders consisting of everything that can help them gain a pleasurable experience on the platform. To get started, a minimum of $250 is required - whether you are a newbie or an experienced trader. 

The trading platform 

Trader.Online Platform Review

The platform used by Trader.Online Forex broker is very modern and simple at the same time - they use latest technologies; they have the latest version of Tradologic. Tradologic is the world’s leading FINTECH software provider, and it runs in accordance with market regulations. Hence, traders can benefit from: a user-friendly platform, fit for both beginners as well as experts; enjoy two trading tools - Forex & Simplex; and live trading charts of assets. Furthermore, Tradologic is the newest addition to advanced Forex & CFD trading platform, designed for traders of any skill level. 

The image above is the Forex platform and as you can see, the platform already has a live chart integrated. You can make use of the chart to learn about the trend of a particular asset or you even place indicators if you are familiar with the RSI, Bollinger Bands, Ichimoku Cloud and much more which are available on the platform.  In the left-hand corner of the platform, you can choose any type of asset - forex pairs, commodities, indices, stocks, cryptocurrencies and futures. If you choose the Simplex platform, you can still benefit from the above advantages. 

The broker promises to offer over 200 trading instruments and leverage over all their assets, ranging from 1:25 to 1:200. Various trades can be placed and monitored on the Open Positions section found on the platform. While using the Simplex tool, you can also set the level of risk while you are placing transactions. You can trade at your convenience with your laptop or by phone as there is a mobile platform for both iOS and Android at the same time.  However, I would highly recommend the desktop platform as you can analyse the trend of an asset better, make full use of the market updates provided on the right-hand side of the platform and trade wisely for profitable transactions. 

Learning Academy 

Trader.Online Learning Academy

I believe you will also agree with the fact that trading Forex/CFD is simple but it does require some levels of understanding to get an idea of the global market and take wise decisions. Hence, Trader.Online Forex broker gives you the opportunity to learn more about the very basics of the Forex industry with its short and straightforward articles, found in their Trader.Online Learning Academy .It also provides a financial news section to update traders about the most trending news and how they impact the markets. If you have only limited time and you wish to have a quick look at the market, you can view the short videos on the Trader Insight section, its a simple and quick way to stay updated. 

Once you register for an account with the broker, you shall have the chance to attend its weekly webinars based on different topics and this might help you in planning your strategy as a trader. Additionally, Trader.Online also provides a weekly Economic Calendar which can help many who are looking for major events that can impact major pairs. 

Customer Support at Trader.Online 

Since Trader.Online has clients all over the world, it is important for the broker to provide a good customer support service 24/7, which they definitely do. Before registering an account, I had few queries about the broker and hence I tested their live chat service, I can say that they deliver a good service. You can also call them or send them an email anytime you wish if ever you are having any issues with their website. 

Final words about the broker

Trader.Online is considered to be a reliable broker and provides many features to enhance the trading experience of their clients. You can easily register an account and test their services. The broker is suitable for newbies who want to learn about this industry and trade at the same time. If you're going to start today, you can quickly register an account here.