Brokers Comparison

Best Forex Broker Comparison 2024

Forex trading is one of the best options to invest your money in the long run, which also needs the best forex broker to start with. Here we will provide you an forex broker comparison among FP Markets, Blackbull Markets, Eigthcap , FxPro, IC Markets and FBS so that you can select the right broker according to your need. Our criteria to compare the brokers are trading platforms, no deposit and withdrawal fees, fast execution, and high-quality customer support lowest spreads. Let’s find out the forex brokers comparison and choose one.

FP MarketsBlackbull MarketsEigthcapFxProIC MarketsFBS

Best Forex Brokers 2024 – Forex Brokers Comparison 2024
Find the best Forex Broker & Start trading instantly!

Welcome to FP Markets
Best Forex & CFD Trading Provider
Minimum Deposit $100
No Deposit Bonus.
5.0 rating
5.0
Location: Australia
Welcome to Blackbull Markets
Best Forex, CFDs & Commodities Provider
Minimum Deposit $0
No Deposit Bonus.
5.0 rating
5.0
Location: Auckland, New Zealand
Welcome to Eightcap
Trade Smarter with Eightcap
Minimum Deposit $100
No Deposit Bonus.
5.0 rating
5.0
Location: Melbourne, Australia
Welcome to FxPro
Trade Like a Pro
Minimum Deposit $100
No Deposit Bonus.
4 games
4.8 rating
4.8
Location: Basinghall, England.
Welcome to IC Markets
True ECN Forex Broker
Minimum Deposit $200
No Deposit Bonus
4 games
4.5 rating
4.5
Location: NSW, Australia.
Welcome to FBS Markets
Reliable Forex Broker
Minimum Deposit $1.00
100% Deposit Bonus
4.5 rating
4.5
Location: Belize, C.A
Welcome to XM
Ultra Low Spreads
Minimum Deposit $50
15% Deposit Bonus.
4 games
4.3 rating
4.3
Location: Belize, C.A.

Regulations and Licenses

Regulations and Licenses

FP Markets

FP Markets: Trade More Than 10,000 Financial Instruments

FP Markets: FP Markets, established in 2005, is a renowned broker globally, providing a wide range of trading opportunities in forex, shares, indices, commodities, and cryptocurrencies through platforms like MetaTrader4&5, cTrader, Iress, Mottai, and TradingView.

FP Markets is distinguished by its competitive pricing, rapid execution, and wide array of trading instruments, positioning it as the top choice for experienced traders. With advanced features such as automated trading and Direct Market Access, coupled with top-notch research materials from Trading Central and Autochartist, FP Markets caters well to the needs of experienced traders.

FP Markets open account

FP Markets Regulations

FP Markets boasts multiple regulations across six entities globally, ensuring compliance and security. The broker offers competitive spreads, advanced trading platforms like MT4/MT5, cTrader, and TradingView, along with robust third-party research tools. With over 10,000 financial instruments available, FP Markets provides ample opportunities for traders.

Who Should Consider FP Markets?

FP Markets primarily caters to experienced traders who require sophisticated tools and platforms. The diverse range of platforms like MT4/MT5, cTrader, and others, along with features like VPS and MAM/PAMM, make it suitable for traders with different strategies. The broker also accommodates scalpers and day traders with tight spreads and low latency trade execution.

It offers comprehensive service, offering competitive fees without compromising on customer support and research materials. The broker’s commitment to transparency and regulatory compliance adds to its credibility.

Brokerage

Brokerage

How Safe is FP Markets?

FP Markets operates under various regulators, ensuring different levels of account protection. While entities regulated by top-tier regulators offer high security, offshore entities may have reduced protection. Traders must consider the regulatory status of the entity they engage with.

With almost two decades of experience, FP Markets demonstrates stability and transparency in its operations. The broker maintains a transparent approach to regulatory compliance and provides clear information regarding spreads and terms.

Maximum Leverage Offered

Maximum Leverage Offered

FP Markets open account

Fees and Trading Costs

FP Markets offers competitive fees, including tight spreads, no inactivity fees, and free deposits and withdrawals. The broker has made a fee structure that favors traders, rendering it a financially savvy option.

Platforms and Tools

FP Markets provides a range of advanced trading platforms like MT4/MT5, cTrader, and TradingView, catering to the needs of experienced traders. These platforms offer various features such as one-click trading, advanced charting, and automated trading options.

Tradable Instruments

FP Markets provides traders with access to an expansive selection of over 10,000 CFDs, spanning forex, commodities, indices, shares, bonds, and cryptocurrencies. This comprehensive offering includes both futures and spot market CFDs, offering traders flexibility in their investment choices.

FP Markets join now

Deposits & Withdrawals

FP Markets supports various deposit and withdrawal methods, ensuring convenience for traders. The broker handles transactions efficiently, without charging any fees for deposits or withdrawals. Payment options include credit and debit cards, bank transfers, BPay, PayID, PayPal, Neteller, Skrill, and broker-to-broker transfers.

Account Types and Terms

FP Markets offers multiple account types to ensure different trading preferences. From spread-based to commission-based accounts, traders can choose the option that suits their trading style. The account opening process is digital and straightforward, with demo accounts available for practice.

Research and Education

FP Markets provides comprehensive market analysis and educational resources, including webinars, e-books, and live sessions. The broker offers access to third-party research tools like Trading Central and Autochartist, enhancing traders’ decision-making process.

There is no doubt that, FP Markets emerges as a top-tier broker, offering advanced tools, competitive fees, and a wide range of trading opportunities. With a focus on transparency, security, and customer satisfaction, FP Markets provides a reliable platform for experienced traders to thrive in the financial markets.

FP Markets open account

Trading Platforms + Tools

Trading Platforms + Tools

BlackBull Markets

BlackBull Markets: Supports Numerous Third-Party Platforms for Copy Trading

BlackBull BlackBull Markets is a brokerage firm that allows people to trade various financial assets like currencies, stocks, and cryptocurrencies. FP Markets offers popular trading platforms like MetaTrader 4 and MetaTrader 5, favored by traders. Moreover, it provides social copy trading platforms, enabling users to track and replicate the trades of seasoned investors. BlackBull Markets also has a web app powered by TradingView, which helps traders analyze the market and make informed decisions.

Growing Popularity and Progress of BlackBull Markets

Although BlackBull Markets is relatively new compared to some other brokers, it’s growing quickly. While it may not offer as many educational resources or research materials as some of the bigger brokers, it’s making progress in these areas. This advancement is clear through its growing product lineup and the introduction of new tools and features aimed at improving the trading experience for its users.

BlackBull Markets open account

Pros and Cons of BlackBull Markets

BlackBull Markets has several advantages that make it an attractive option for traders. For example, it is available to residents of New Zealand, unlike many other brokers that lack the necessary license. It offers both MetaTrader 4 and MetaTrader 5 platforms, which are widely used and trusted in the trading community. Additionally, it provides access to third-party trading tools from companies like Autochartist and Acuity, which can help traders make better decisions.

On the downside, BlackBull Markets does not have as many regulatory licenses as some other brokers, which may raise concerns for some traders. Its educational content is also not as extensive as that of some competitors, although it has been improving in this area. Additionally, its fees and commissions are in line with industry averages, meaning traders may find cheaper options elsewhere.

Spreads

Spreads

BlackBull Markets open account

Safety and Regulation

BlackBull Markets is regarded as having a moderate level of risk, with a Trust Score of 77 out of 99. Although it is authorized by the Financial Markets Authority (FMA) in New Zealand, it doesn’t possess as many regulatory licenses as some other brokerage firms. This may affect the level of protection offered to traders, so it’s important for users to be aware of this when choosing a broker.

Offerings and Investments

One of the key strengths of BlackBull Markets is its wide range of investment options. With over 26,000 tradeable symbols available, including currencies, stocks, and cryptocurrencies, traders have plenty of choices when it comes to building their portfolios. The recent launch of BlackBull Shares has further expanded the range of products available, providing even more opportunities for traders to diversify their investments.

BlackBull Markets join now

Commissions and Fees

Trading costs at BlackBull Markets are in line with industry standards, meaning traders can expect to pay similar fees to those charged by other brokers. The Standard account typically features an average spread of 1.25 pips, whereas the ECN Prime account provides narrower spreads but mandates a minimum deposit of $2,000. Overall, the fees and commissions charged by BlackBull Markets are competitive, although traders should be aware of any additional costs that may apply.

BlackBull Markets Platforms and Tools

BlackBull Markets provides various platforms and tools to assist traders in executing their strategies effectively. In addition to MetaTrader 4 and MetaTrader 5, it also provides its own BlackBull Shares platform and integration with TradingView. These platforms offer a variety of features, including charting tools, analysis indicators, and social copy trading capabilities, allowing traders to customize their trading experience to suit their needs.

BlackBull Research and Education

While BlackBull Markets’ educational resources are not as extensive as those offered by some other brokers, they have been expanding in recent years. The Education Hub provides articles and videos on various trading topics, organized by experience level. Additionally, the broker produces daily market analysis reports, which can help traders stay informed about market trends and potential opportunities.

So, BlackBull Markets is a reliable option for traders looking to access a wide range of financial markets. While it may not offer as many educational resources or research materials as some other brokers, it is making progress in these areas. With competitive fees, a variety of trading platforms, and a growing range of investment options, BlackBull Markets is well-positioned to continue its growth and attract new traders in the future.

BlackBull Markets open account

Platform

Platform

Eightcap
Eightcap: Offers More Than 100 Cryptocurrency CFDs

8eightcap Established in 2009, Eightcap is headquartered in Melbourne, Australia, and holds regulatory licenses in multiple jurisdictions, including Australia, the UK, the EU, and the Bahamas. With a focus on providing access to a diverse range of financial markets, Eightcap continues to evolve to meet the needs of traders around the world.

Eightcap isn’t just your average broker. It offers the popular MetaTrader platforms, but it goes beyond that. It provides access to TradingView, an award-winning algorithmic trading platform by Capitalise.ai, and various other third-party resources. Eightcap has solidified its reputation as a dependable choice for traders venturing into the financial markets.

Eightcap open account

Exploring Eightcap’s Offerings

For cryptocurrency trading, Eightcap is seemed to be superior. With over 100 cryptocurrency CFDs available, it’s no wonder it earned the title of #1 Most Cryptos in the several Annual Awards. However, its range of overall markets is somewhat limited, with just over 900 CFD symbols and 56 forex pairs. While it may not offer as many options as some competitors, Eightcap still provides a decent selection of asset classes, including shares, indices, commodities, and cryptocurrencies.

Strengths and Drawbacks of Eightcap

There’s a lot to like about Eightcap. For starters, it’s regulated in three Tier-1 jurisdictions and two Tier-4 jurisdictions, offering traders a sense of security. It also provides written research articles and content from third parties like BK Crypto Crusher, helping traders stay informed about market trends. Additionally, it offers the TradingView platform, which is highly regarded among traders for its powerful charting capabilities.

On the downside, Eightcap’s research content lacks depth and consistency, and its educational resources could be improved. With just a dozen educational videos and limited organization by experience level, there’s room for growth in this area. Furthermore, its range of markets and execution methods may not be as competitive as some other brokers, making it less appealing to certain traders.

Eightcap open account

Risk Management

Risk Management

Safety and Regulation

If you are concern about safety, Eightcap is deemed trustworthy, boasting a Trust Score of 85 out of 99. It holds regulatory licenses in Australia, the UK, the EU, and the Bahamas, offering traders assurance that their funds are safeguarded.

Eightcap Commissions and Fees

Trading costs at Eightcap are generally in line with industry standards. It presents two account options – Raw and Standard – with fees differing based on the selected account type. While the Raw account has lower spreads, it also incurs a commission per trade. On the other hand, the Standard account offers spread-only pricing, with a minimum deposit requirement of $100.

Eightcap join now

Eightcap Platforms and Tools

Eightcap provides a diverse range of trading platforms and tools to promote various trading styles. From the MetaTrader suite to TradingView and Capitalise.ai, traders have access to a range of resources to enhance their trading experience. While Eightcap may not have a proprietary mobile app, it still provides mobile access through the MetaTrader app, available on both iOS and Android devices.

Market Research and Education in Eightcap

While Eightcap produces daily written updates and occasional videos, its research offering falls short compared to some competitors. Similarly, its educational resources could be more robust, with a greater emphasis on video content and organization by experience level.

So, it can be said that Eightcap is a solid option for traders looking to access a wide range of financial markets. While it may not offer as many educational resources or research materials as some other brokers, it provides a reliable platform for executing trades and accessing third-party tools. With its commitment to regulation and safety, Eightcap offers traders a trustworthy environment for forex and crypto CFD trading.

Eightcap open account

FxPro FxPro: Multiple Platforms option with Tight Spread and No Commission

FxPro Our research on compare forex brokers finds out that FXPro is a top-level no dealing desk forex broker, which offers Metal, Energies, Forex, Cash Indices, Cash Equities, CFDs, and ETFs. They have been in operation for more than 15 years and are regulated by FSCS (UK), FCA (UK), and CySec (Cyprus).

Features of FxPro

  • Their advanced execution model offers 260+ instruments in 6 different asset classes, including Forex, Futures, Indices, Shares, Metals, and Energies.
  • A vast range of forex trading platforms and tools to provide you a top-notch trading opportunity.
  • Provide deep liquidity and serve the best available ask and bid prices all the time.
  • The execution speed is ultra-fast that can be done under 11.06 milliseconds. They have a record of filling 199,397 in a single day.
  • Provide full transparent and ethical service in online trading.
  • Multiple payment options such as E-wallets, Cards, Wire Transfer.

FxPro Open an Account

Platforms

By making the online broker comparison, we have found that FcPro offers a wider range of platforms than other best forex brokers. The platforms include FXPro Trading Platform, MetaTrader 4, MetaTrader 5, and cTrader.

FxPro Trading Platform

FxPro has its own trading platform, which gets you the opportunity to manage the funds conveniently from the FxPro app without installing other third-party applications. FxPro review shows that they provide competitive spreads at zero commission rate with ultra-fast execution speed.

Research Tools

Research Tools

FxPro MetaTrader 4 & 5

MetaTrader 4 is another revolutionary platform, and online broker comparison shows that almost all the forex brokers. On the other hand, MT5 is just the upgraded version of MT4. You can use either one and can get the most the same benefits. Both of these platforms were created to provide an efficient and smooth trading experience with the feature of

  • Three charting types
  • 50 technical indicators
  • 9-time frames
  • Customizable interface
  • Arability of micro-lots
  • Mobile and web trading

FxPro Join Now

cTrader

It has a mobile and web trading platform that provides full market depth and execution, spreads starting from 0 pips and stops/limit levels without any restriction. Forex broker compare supply the idea that cTrader is not a very common platform like the MT4.

FxPro Spreads and Commission Structure

FxPro offers endless trading opportunities for its brokers without charging any commissions. However, they also offer tight spreads. Additionally, you will also get the spread betting to get the tax advantages if you are British.

Forex brokers comparison also ensures that FxPro spreads are comparable to ECN.

FxPro Open an Account

IC Markets IC Markets: The Best ECN Broker with the Lowest EUR/USD Spreads

IC Markets IC Markets forex broker operates in Australia mainly. However, the online broker comparison indicates that it has several branches. Besides, 3 different authorities regulate them, which include the Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Supervisory Authority (FSA). In terms of safety, these three regulatory bodies indicate IC Markets as the best forex broker. However, if you go through the features, you might get convinced to trade with them.

open an account ic markets

Features of IC Markets

Fast Execution: They use the fastest server like the NY4 (New York Stock Exchange) and LD5 (London Stock Exchange) data center to serve the speedy trading.

Technology Driven: They have partnered with some of the best trading technology providers to offer the cutting edge too to the user, such as ladder trading, Depth of Market (DoM), customize the ordering template, spread monitoring, and more.

Low Spreads: IC markets always seek the best technology to provide the lowest possible spreads to its traders.

Advanced Trading Platforms: IC Markets offer 3 best trading platforms to its users, which includes cTrader, MetaTrader 4, and MetaTrader 5.

Transparent: They are transparent about their policies and transactions without having any hidden charges.

Customer Support: While we make the forex brokers comparison with other brokers, IC Markets is best about the timing as they offer 24/7 customer support, while others provide 24/5.

IC Market Trading Platform-Join Now

IC Markets ECN Pricing

It offers variable spreads as well as tight spreads throughout the three forex trading platforms. Besides, IC Markets online broker comparison shows that it has a connection with more than 25 various liquidity providers, ensuring that the spreads remain tight during the weekdays. The spreads are as low as 0.0 pips. Additionally, they do not have a dealing desk, and requote price is not needed.

Markets and Instruments

Markets and Instruments

Breakdown of Fees in IC Markets

The minimum deposit is $200, and there is no fess for the deposit. So, you can deposit any amount without paying any fees. Furthermore, they support many ways to deposit, such as Skrill, Bpay, Cards, and wire transfer. However, international transfer fees are applicable, and forex broker comparison indicates that it is more or less common for all brokers.

There are no withdrawal fees either for the local trader, but international withdrawal fees varied per the size of the transaction.

In the case of rollover fees, it is standard like all the CFD brokers. However, there are no inactivity fees; you are not bound to keep on the transaction. Our IC Markets review will definitely enlighten you in detail.

open an account ic markets

FBS FBS: Comes with Quick Withdrawal and Highest Leverage on The Market

FBS FBS is regulated by the Cyprus Securities and Exchange Commission (CySEC), which helped more than 2.3 million traders to trust FBS. The broker offers numerous forex trading tools with plenty of instruments. For example, you can trade crypto, forex, metal, stocks, energies, and forex exotics from a single account. Hence, you don’t need to open separate accounts for each trading instrument.

Further, FBS offers you 28 forex pairs, 11 indices, 9 exotic forex pairs, and more than 100 crypto CFDs. In addition to that, you can also trade silver, gold, natural gas, Brent crude oil, WTI crude oil, and more.

Another great thing about FBS is that you choose your account types from six options. For example, you can open cent, micro, standard, zero spread, ECN, and Crypto accounts. These accounts come with their own benefits. For example, your deposit would be as low as $1, along with a low commission. Also, some accounts will give you up to 1:3000 leverage. You can trade on different lot sizes from 0.01 to 500.

FBS Open an account

Trading Platforms by FBS

FBS offers MetaTrader 4 and MetaTrader 5 as their platform. Also, you have the opportunity to download their very own mobile app named FBS Trader. You can download that on your Android and iOS devices, such as iPhone, iPad, and more. Although the app is made by FBS, you will get all the MT4 or MT5 platforms to feature right from your phone. Furthermore, the FBS app gives you 24/7 customer service.

With the MT4 and MT5 from FBS, you can trade different assets. The platform will give you lightening fast trading execution speed with its high-speed server. Lastly, the FBS trading platform also offers numerous technical indicators to make your trading life easier.

Deposit and Withdrawal

As we are living in the internet era, you don’t need to go to the bank to deposit in your FBS account. You can simply add money from your bank account or credit card through the FBS app. On top of that, you will also have options to choose from multiple banks. After the deposit, you can trade 170+ assets.

FBS Open an account

FBS Trading Instruments

As we have mentioned earlier, FBS offers different trading instruments. Let’s see what you can trade with the FBS broker.

As forex is the main trading instrument, they offer 28 FX currency pairs, and you get them at 0.0 spreads. To diversify your trading portfolio, you can even trade metals such as silver and gold.

If you want to pause forex trading for a while, you can try indices trading with FBS. They offer 11 top indices from around the world. You will certainly get access to NASDAQ100, AU200, Dow Jones, DE30, FTSE100, and more. And you can start indices trading starting from 100 lots.

Apart from indices, metal, and forex, energy trading options are also there. You can trade WTI crude oil, natural gas, and Brent crude oil.

Additionally, you will get access to the trading opportunity for 9 exotic forex pairs too. Further, stock and crypto trading options are there too. For the crypto, you can trade from 100+ crypto assets with 1:500 leverage features. Crypto assets include coin-coin, coins-fiat, coin-metals, and coins. So, you won’t lack behind in diversifying your crypto pairs.

However, to get all these features, you must need an active FBS trading account. So, make sure you choose the desired account, as they have multiple account types.

Nevertheless, you can also open a demo account before opening a real account with real money. So, you can check out the FBS platform beforehand. And if you are satisfied with the demo account, you can go for a real account.

FBS Bonus

Best Forex Brokers 2024 – Forex Brokers Comparison 2024
Find the best Forex Broker & Start trading instantly!

Welcome to FP Markets
Best Forex & CFD Trading Provider
Minimum Deposit $100
No Deposit Bonus.
5.0 rating
5.0
Location: Australia
Welcome to Blackbull Markets
Best Forex, CFDs & Commodities Provider
Minimum Deposit $0
No Deposit Bonus.
5.0 rating
5.0
Location: Auckland, New Zealand
Welcome to Eightcap
Trade Smarter with Eightcap
Minimum Deposit $100
No Deposit Bonus.
5.0 rating
5.0
Location: Melbourne, Australia
Welcome to FxPro
Trade Like a Pro
Minimum Deposit $100
No Deposit Bonus.
4 games
4.8 rating
4.8
Location: Basinghall, England.
Welcome to IC Markets
True ECN Forex Broker
Minimum Deposit $200
No Deposit Bonus
4 games
4.5 rating
4.5
Location: NSW, Australia.
Welcome to FBS Markets
Reliable Forex Broker
Minimum Deposit $1.00
100% Deposit Bonus
4.5 rating
4.5
Location: Belize, C.A
Welcome to XM
Ultra Low Spreads
Minimum Deposit $50
15% Deposit Bonus.
4 games
4.3 rating
4.3
Location: Belize, C.A.

Facts We have Checked to Make this Comparison

While making the online broker comparison, we have followed some steps. We compare forex brokers in such a way so that you can take the decision by looking at the table without going through the theoretical description. We researched the best forex brokers, which are always safe. And, we have found the 6 brokers we have mentioned above.

The steps we have followed-

  1. The first thing we checked is their regulation. If regulated, check with the regulatory bodies, verify with the license number. We did not include any unregulated forex broker.
  2. Next, we have verified the regulatory status; we went through the available instruments they offer and how the instruments are beneficial for the traders.
  3. After that, we looked at the offered platforms as platforms are the ultimate tool to get you a cutting-edge trading experience.
  4. Leverage is also important to earn profit from forex trading. So, we made a table to compare forex brokers according to the leverage ranges.
  5. Finally, compared the tools each broker offers to boost the trading experience.

However, we also did a trial and error method to eliminate the less performing ones to keep the best broker. As a result, end up with these six forex brokers comparison. 

Best Forex Brokers Comparison

Top Rated Online Best Forex Brokers 2024

FP Markets Review
5.0 rating
Best Forex & CFD Trading Provider
Location: Australia
Best Forex, CFDs & Commodities Provider
Location: Auckland, New Zealand
Eigthcap Review
5.0 rating
Trade Smarter with Eightcap
Location: Melbourne, Australia
Top Forex Brokers Review
Top Forex Brokers Review