Forex Broker Reviews

Searching For The Perfect Forex Broker

Finding the right forex broker can be an arduous task. However, you can dramatically cut the time taken to search for the right forex broker by firstly writing down what you NEED, read our reviews to see which broker best serves those needs, and then sample for yourself the forex broker’s demo platform.

The reviews that we provide are from brokers that we have tested. Please note that we do not receive any benefits of any kind from any forex broker for providing a review of their products and/or service(s). The opinions and ratings that we give are solely our own.

Other brokers that we have not yet reviewed are further below and only contain small snippets of information that we came across while demo trading their platform. If time permits we will fully review them in due time.

Again, please note that we do not have an axe to grind with any broker, nor do we receive any benefits from endorsing one over the other, we are forex traders who are providing our opinion on the top forex brokers available today. As suggested at the top of this page: we recommend everyone test the platforms out for themselves as everybody’s needs are different.

Which Broker Did We Find The Best?

In summary of the reviews conducted, our favorite platform was Oanda although they are by no means perfect.

If you agree with our views on improving Oanda you can help add you vote by going to Oanda’s Feedback Form and requesting that they include:

  • Trailing stops
  • Better news ticker
  • Market depth
  • 100:1 leverage

Our Forex Broker Reviews:

Click the broker’s hyperlink to read a more descriptive review (all marks are out of 10).

IFX Commerce Bank Review: Trade with a bank not a broker
Our rating: 4

FXCM Review: Has one of the largest clientele
Our rating: 1

Capital Market Services Review: Auto trade your own system
Our rating: 4

Oanda Review: 1.5 pip spreads on EUR/USD
Our rating: 7.5

ACM Review: 3 pip spreads on majors
Our rating: 2.5

Gain Capital Review: Trailing stops
Our rating: 4.5

HotSpot FX Review: Market Depth
Our rating: 4

MG Forex: Dynamic News Feed Inside Trading Platform
Our rating: 1

OTHER FOREX BROKERS NOT YET REVIEWED:

SAXOBANK

GFT FOREX

REALTIME FOREX AG Swiss based

REFCO FX Similar to FXCM

Tags: Forex Broker

56 Responses to “Forex Broker Reviews”

  1. Currency Secrets » Blog Archive » How You Can Take Better Advantage Of FXCM’s Restrictions Says:

    [...] is holding you back, and there are far better forex brokers than FXCM, just check out the forex broker page. Firstly let’s start with what FXCM&#821 [...]

  2. Currency Secrets » Blog Archive » The Perfect Forex Broker Says:

    [...] DD

    The Perfect Forex Broker

    While offering reviews on some of the most popular forex brokers on the internet [...]

  3. Paul Says:

    Who is trustworthy that offers a mini account and traids in the USD/PHP pairs???

  4. AL Says:

    OANDA IS THE BEST AROUND SECOND TO NONE ,VERY EASY TO UNDERSTAND THE BEST SPREADS IN THE BUSINEES, I THINK EVERYONE SHOULD TRADE WITH “OANDA”

  5. DovBart Says:

    I personaly think Easy-Forex is the best in terms of that.

    That is why I put them up first on my site:
    http://www.onlinetrading-fx

    Others just have a cumbersome approval process.

  6. Gene Says:

    Hi,

    It will be interesting having reviews about http://www.rjofx.com and http://www.gftforex.com, brokers using not Java but more stable Windows based platforms, and about 3 big brokers – http://www.FOREX.com, http://www.CMSfx.com and http://www.MANdirect.com
    Have a good trading.
    Gene

  7. Guy Says:

    Gene,
    I currently trade with GFT. They have one of the best free charts that I know. It runs in their Dealbook FX2 program that you can download on your computer. It has all the charting tools you dream of including 100 indicators, Heikin Ashi, downloadeble history charts, and reviewing such a period in history “bar after bar” so that you can backtest your “holy grale” in a random period in the past.
    Is that than the dream solution? GFT has a few cons too:
    1) An inactivity fee, of some 75$ I think, is aplicable if you don’t trade. I sometimes stop trading for a wile and this requires “parking” your account every time.
    2) My friend in Belgium has no complanes about stability at all, but I live in Cairo Egypt and the platform relogs in every 10 minutes. Charting modifications requires several relog ins after each other. A real problem! Sometimes trades are not executed due to this port conflict at log in. With the MG financial platforms there was not such a problem, but their charting softwear was to basic.
    3) The history charts are to combersome to open. The normal chart does not go back more than 15 days in a 30 minute chart. (Do I sound to spoiled now?) The back testing and opening of previous periodes in time should be made more user friendly and covering longer periods. Back testing should be improved.

    For the rest no complanes at all. Good customer suport, 1/10 lots, the normal small spreads of 3 pips at eur/usd, no slipige, free great softwear (if you park your account in case of no trading, to avoid inactivity fee) etc. I should give them (if you live in a country with good internet connection) an 8/10

  8. orabi abdelhamid Says:

    forex is a good investment and also a beautifull art , ithink your rule should be stable low prophits ,if you you mange to reach that you will reach 10 % easliy monthly as profit ,and about the brokers i recomend ubs , oanda , man finincial .

  9. Tim Says:

    How often is this site updated? Why hasn’t anyone review gftforex.com? We are larger than some of the other companies listed.

    Warm regards,

    Tim

  10. Tom Says:

    Hi
    I would like to get also review for http://www.realtimeforextrading.com
    and for http://www.swissnetbroker.com

    Any comments?

  11. Nicolas Says:

    Who tried managed account services
    from http://www.invest2forex.com

  12. Marco Says:

    Again, http://www.forexbastards.com has an EXTENSIVE list of broker reviews and forex education reviews. Great resource for any beginner or expert trader.

  13. Jerry Says:

    I believe that Easy-Forex is one of the best brokers out there.

    I found them at http://www.forexbids.com.

  14. axl Says:

    its not all about what broker we have just for the credibility of the company.
    the most important is the experienced and the trading capacity of the trader..
    email axl_359@yahoo.com

  15. Forex Mentor Says:

    Charting tools and other gimicks are just that. You should not choose a broker because it has “live training” or nice charting tools. I think non-dealing desk brokers are more transparent and the way to go.

    Regards,

    Jo

  16. ForexCycle.com Says:

    I think fxsolutions is good.

  17. J. M. Says:

    Does anybody out there have a rating on EasyForex? Their website is:
    http://www.easy-forex.com

  18. ForexCycle.com Says:

    I think Oanda and FX Solutions are good forex brokers.

  19. krigjsman Says:

    > Does anybody out there have a rating on EasyForex? Their website is:
    http://www.easy-forex.com

    Try http://www.forexadvisor.us. Found it when I tried to search for marketiva. Btw, who knows about marketiva?

  20. teddy Says:

    I think all easy-forex comments above are spam ;(

  21. axl Says:

    For those who think Oanda is good:
    http://www.forexrealm.com/brokers-reviews/
    Most of other brokers are SCAM too!

  22. alpaxy Says:

    I am in Japan. I have opened an account with http://www.fxcm.co.jp that is a fellow corp. of fxcm. It’s true fxcm trading station has restriction on entry order price. I am not exactly clear about what the warning message mean. What I most dislike is the trading station doesn’t have 4 fours chart. and It also can’t provide hedge order. The spread on cross currency is too high. I am still a newbie on forex market. fxcm is my first forex broker. So I can’t give my rates but fact.

  23. Brian Howard Says:

    easy-forex are by no means anywhere near as good as the comments in this site tend to suggest.

    I have traded with easy-forex and still have an account with them, but I trade only VERY small trades with them.

    i have had numerous trades closed without explanation, the spreads change without warning and, apart from the Australian staff, the whole lot of them downright unhelpful.

    The ONLY advantage with easy-forex is that you can depost money and trade quickly without too much trouble – but that is the ONLY advantage of easy-forex.

  24. Mary LeBlance Says:

    Why are there so many wanting to bash easy-forex? My friend started her Forex career with them. When I talked to her about it she told me she’s happy and so far has not needed to try anyone else.

    Anyway, I also found a very positve review of Easy-Forex here:

    http://www.forexbusinessreviews.info/easy-forex-review.html

    i have opened my account and talked with them on the phone. I plan to start trading with them on monday. I will keep you guys posted with my results…

  25. chris Says:

    hi been reading all the reviews and feed backs from this site and others, but now even more confused. come out of army have a £1000 to play with (lose) its got to last about 12 weeks confined to a computer and wheel chair while getting better. iv been using the charts having some fun on demo accounts, although the charts have reacted very strangley just as i exit or jump in sometimes, almost as though being watched. Basically want to trade shares ft commodities and forex from one platform. any ideas or just a good chat site to join/learn would be really usefull. any paras out there trading im bored to tears.

    cheers Chris

  26. AUGUSTINE Says:

    PLS CAN ANYBODY TELL ME AND PROVE TO ME WHY CROWN FOREX SA IS SAID TO BE A FAKE

  27. AUGUSTINE Says:

    PLS CAN ANYBODY TELL ME AND PROVE TO ME WHY CROWN FOREX SA IS SAID TO BE A FAKE, Scam Or NOT PLS SOME HELP ME OUT HERE

  28. Managed Account Says:

    we also had our fill of bad brokers – there is no perfect one out there – you can be glad if you don’t get ripped off too much.
    We work with a perfect scalper who managed to find a broker who allows his style of very successful scalping.
    check http://www.managed-forex-accounts.info

  29. emilights Says:

    Try this link for tons of reviews http://www.forexpeacearmy.com/
    I still haven’t found any that received unanimous reviews.
    Any suggestions ?

  30. Jack Says:

    Another new site for comparing online forex brokers -

    http://www.BestOnlineForexBrokers.com

  31. Mike Says:

    Has anyone tried a managed account? Any advice?

  32. Joshua Berlin Says:

    There is no better review site out there like:

    http://www.ForexJustice.com

    We rate forex brokers, forex signal providers, have a free forex guide. The best part, the site is free with absolutely no product or service offerings. A high tech review site.

  33. La Von Says:

    I created a new forex review site to help balance out the abuse of other forex review sites. the new site is called http://www.forexscamcheck.com

  34. Forex Trading Blog Says:

    If you’re new to forex trading I’d recommend going with someone like Marketiva, Easy Forex or FXClub, but once you’ve got some experience and a bigger trading capital, I’d go with one of the larger well-established brokers like Oanda.

  35. Mihail Says:

    Deltastock provide comprehensive solutions for online trading on the global financial markets to individual and institutional investors. Company`s Internet–based services allow clients to instantly trade spot Forex, Gold and Silver, CFDs on American and European equities and indices, BRENT and WTI Crude Oil through their own Delta Trading platform.

  36. AussieWebmaster Says:

    There is a good forex broker review guide available for free from Traders Choice FX.
    http://www.currencysecrets.com/2005/05/14/forex-broker-reviews/

  37. AussieWebmaster Says:

    There is a good forex broker review guide available for free from Traders Choice FX.

    worth a read:
    http://www.currencysecrets.com/2005/05/14/forex-broker-reviews/

  38. A.ME Says:

    Today is the 4th of July and they closed the trading platform with no advanced warning to their clients, they just closed on client’s opened trades. They also had spreads widen 6 pips today with no economic news. Yes all of the horrid reviews you read about IBFX is true, they are the crooks that you read about. Stay away, even if you are a seasoned trader like me. New traders definitely stay away, or they will skin you alive and rob you blind in plan sight with all kind of platform crashes, especially if you have a trade that is really going in your favor in a big way, then your platform will mysteriously repair in self when your trade is going against you. If you open a trade with them and it is going your way, please for your sakes do a trailing stop to lock in your profits of have a TP level, and if it is a really big trade, they still may not close it once your TP is hit. I have had to close my TP’s manually on quite a few occasions. Also their re-quotes are ungodly. Just watch them

  39. Daniel Says:

    If you are looking for a broker review and rating go to

    http://www.forexexplore.com

    It compares forex brokers, gives detailed reviews. By the way, it also lists the first deposit bonuses for almost every broker.

  40. Danielle Says:

    HY Markets is pretty good too. Got all the necessary tools on their trading platform, userfriendly, great support in English, Chinese, Japanese and Arabic. Support is very important, we all know that by now! Minimum deposit is $50 and spread is as low as 3 pips on major currencies.

    Here is their full review: http://www.forexexplore.com/broker-of-the-month/36-brokers-reviews/154-forex-broker-review-hy-markets-broker-review-forexexplorecom.html

  41. danny Lunes Says:

    If your looking for a better broker then you should check out non-moderated review sites that are not edited and filtered and manipulated a good site to find a forex broker on is: http://www.forexscamcheck.com/forex-brokers-f93.html

  42. Ashley Says:

    Do HY Markets, i have found they are really good and easy to use they are regulated by the FSA and something else i cant remember but anyways i use them and they are very helpful, also i can trade more that just forex i trade stocks, oil, indices etc using 2 of the trading platforums they have availiable.
    anyways my account i opened with $50 to test out the site and anyways it works very good.

  43. Alex Findlay Says:

    It is funny but I have never taken the time to review brokers. I have had issues with some and decided to Google all the brokers. I reached the conclusion that on average everyone had a comment good and bad. I questioned why Kathy and Boris would leave xxx for xxx. I respect them greatly but I objected to a Bloomberg article that was surrounded with xxx ads. Interestingly Bloomberg agreed and made changes.

    Of all the sites this one appears to be free from the influence of Broker influence support.

    I do not wish to either promote or degrade brokers. I resorted to using Alexa.com

    Alexa measures visits and can be influenced by the level of Broker visits.
    I noticed that xxxx Micro had the largest increase. What troubled me was no advice or suppot. Open an account for $25.00 and no limit on the number of times that you could add funds an unlimited number of times each day. That spells to me they know $25.00 is suicide. I am not endorsing the program and my favorite Broker is hard to find. If this site wishes to name them that is OK with me. Here is a hint they are not prominent in the US, operate from Switzerland, the majority of their clientele is from Japan, only offer accounts of 50k plus. Both brokers have advantages and cater to segmemted markets.

    I do not know if it is prejudicial or not.

    Incidentally trading has just been halted in Russian markets 09/007/2008 as I write Turkish rebels are causing problems, the VIX is over 50 and the UK has just injected over 40 billion pounds and the ECB has done the same in Euros.

    Any ideas and comments are appreciated

    Alex Findlay

  44. Jessica Says:

    Hi
    Your forex broker reviews can play a very important role in finding the right forex broker.
    Thanks
    http://www.dailyforex.com/

  45. Sean Says:

    Thanks for the info about forex brokers. [IMG]http://www.fxgator.info/img1.jpg[/IMG]

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  47. Best FX Broker Says:

    Nice looking blog with some great reviews of the different forex brokers. It seems like there are many scams out there and people really need good review sites.

    Cheers

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  50. Mark Says:

    I believe it’s important to review trading brokers so, that people get a clear idea of different trading brokers.

    I currently trade with WSD. They are based in New Zealand. I’ve been trading with them for a couple of months now. They offer both micro and mini lots trading with spreads as low as 0.5 on EURUSD. I first opened a DEMO account with them and eventually signed up for the Live account. They offer a wide range of options services and have a professional staff for any queries.

  51. Mark Says:

    This is a free website with free signals. Very interested
    why their signals are free since it worked amazing for me for the
    last three months. Thank you.

  52. Aron Says:

    fapturbo, you might wanna try leaderforex for trading robots and scalping…also I can say that many firms have slippage on market, limit and stop orders but this forex firm hasn’t caused any problems to me over the past few months. (http://leaderforex.com)

    Thanx for the forex company reviews above.

  53. Roberto Says:

    Try this company
    Is a Swedish serius trading house and forex asset manager.
    http://www.gedamoforex.com

  54. Abena Smith Says:

    I think it’s not so easy to find a perfect Forex Broker, but it’s also not so deficult to became a perfect Forex Broker, actually Forex Trading is really useful for peoples who want to earn money in short time period. to know about Forex platform, Forex brokers, Forex trading you must visit:
    http://www.onlineforexfuturestrading.com/

  55. Michael Inovatrade Says:

    FX Brokerage

    InovaTrade® has quickly become a leader in the Forex marketplace because of our philosophy is: “Provide the most advanced, easy-to-use currency Trading Technology with fast, reliable execution and world-class Customer Support.” This belief has led to a loyal customer base that continues to grow. Based in Panama, land of confidentiality, InovaTrade® places great importance on individual’s rights and therefore applies strict professional ethics.

  56. Nick Says:

    Hey Aron, thanx for the suggestion. Leaderforex seems like a nice broker, found some great reviews about them. Good thing is that they are regulated and licensed. (http://www.leaderforex.com/about-us/regulation/)
    Opened a supermini account today just to try. If everything goes ok, i’ll let you all know soon.

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