Forex Brokers | Forex Broker Reviews & Ratings
One of the most important factors that determine a forex trader's success is the broker(s) he or she chooses to do business with. There are many aspects to consider when choosing between the many forex brokers out there, some of which are difficult to find out until you have traded real money with them, at which point it may be too late. In this section, we give you that information up-front, with no bias. Our forex broker reviews are written after doing extensive testing of the brokers' forex platform and trading conditions, using real-money accounts. You will not find this type of information anywhere else. We hope it helps you make an informed decision on who you can trust with your money, and which forex brokers are best suited to you and your trading style.
To help you narrow down your search, we have also categorized our database of forex brokers, so if you have a pretty good idea about what you are looking for, you can start by opening the broker search box on the right side of this page and checking off all the criteria you are looking for in a forex broker. Otherwise, feel free to browse through our full list of forex brokers below.
HY Markets Review
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Henyep Investment (UK) Limited, the father of HY Markets, has been around since 1977, making it one of the most established players in the game. The company is also regulated by the FSA in the United Kingdom, adding another layer of security to clients who conduct business with HY Markets.
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Oanda Review
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Oanda is a very well respected forex broker among large and small account holders. Oanda is known for being an innovative company that offers traders some unique features such as hourly swap payments and single unit positions sizing - your positions can be as small as 1 unit, which greatly improves traders' ability to apply sound money management rules correctly without having to round down your position sizes. Oanda also offers a great deal of transparency.
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InstaForex Review
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If you are looking for a strong Asian forex broker offering, you are well advised to at least consider InstaForex, as it is one of the most successful brokers to come out of Russia (and that is saying a lot when considering that Alpari and EXNESS are both originally Russian). In fact, InstaForex was named the best broker in all of Asia in 2009 and 2010, beating out some fairly tough competition.
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ForexGen Review
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ForexGen appears to be either an outright scam, or a very very badly run business, with scam being the much more likely scenario. The original deposit was returned to our traders only after a long battle, and the profits, which were significant in relation to the amount of the deposit, were never allowed to be withdrawn. ForexGen first disabled the trading accounts, and later nullified all the trades that had been made in the accounts. In addition, this broker is not regulated, and has already been investigated by Norwegian police, so we must recommend to everyone to stay away from ForexGen. You have been WARNED!
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Easy Forex Review
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Easy Forex is one of the few brokerages that you either love or you hate. There are some things about it that are the best in the business, and some that are very frustrating. Depending on your trading style, you are bound to belong to one of the extreme camps.
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Finexo Review
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Finexo used to be a "white-label" partner of Saxo Bank, a well known and respected investment bank offering among other things, spot forex trading. They have since been bought out by an Israeli outfit with a company in Cyprus. Unfortunately, the result has been less than positive. Finexo is now a full-fledged bucket shop that any serious investor is advised to steer clear of.
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CKfx Review
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More than just a mere offshoot of Forex Yard, CKFX offers up some things it's parent does not. Geared more toward smaller traders, CKFX has tailored some of its promotions to be more lucrative for smaller account holders.
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GFT Forex Review
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GFT Forex offers traders a very high level of service. It is intended for professional traders who demand very high standards. GFT's DealBook 360 platform is very rich in features. It offers traders many different order types which are not available in lesser platforms, such as "one cancels other" (OCO), which allows traders to place several different resting orders, which are canceled when one is executed.
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IKON Royal Review
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IKON Royal offers up the ubiquitous MetaTrader 4 (MT4) platform that is well known for its reliability and ease of use, as well as support for the widely used MQL4 programming language, allowing traders to design their own trading algorithms (Expert Advisors). While the platform certainly has its advantages, it does not offer the functionality that some professional level packages do.
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FXPro Review
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FxPro is a very well-known and well funded Market Maker. In business since 2006, FxPro has gained a large pool traders by buying up some very prominent advertising space. By providing its own liquidity and keeping all trades in house, FxPro is able to give its clients some of the lowest spreads in the industry (0.8 pips target on EUR/USD) as well as lightning fast execution (most of the time). The key here is, unfortunately, that execution is done at their discretion.
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Hantec Markets Review
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Hantec Markets offers professional traders a very solid forex trading package, along with all the advantages and disadvantages that the MT4 and Currenex platforms come with. The great thing is that you get access to a real ECN and can trade to something very similar to the interbank market (although not in the interbank market itself). You can see the liquidity and pending orders, you can use complex order types such as if/then and one-cancels-other (OCO), and make use of many other professional level features available on Currenex.
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Baron Forex Review
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Baron Forex, is an offshore forex broker that is regulated by the IFSC in Belize. Being based offshore can bring with it some advantages to forex traders, but at the same time can be risky due to lax (or non-existant) regulation standards in many offshore jurisdictions, as well as limited legal recourse in case a dispute arises. Baron Forex is no exception to this.
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