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Best Forex Brokers Review


Best Forex Brokers by Country in 2026

Your country of residence affects which broker company serves you, the protections available, and your trading conditions. FxPro, Axi, HFM, FP Markets, and IC Markets offer different combinations of platforms, pricing, and local arrangements. Choose an eligible account first, then compare spreads, commissions, overnight charges, and withdrawal terms. Matching your account currency to your funding currency can reduce conversions, but other charges may remain. A local office or group-wide licence does not establish every account permission, and regulation does not prevent trading losses.

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Written by

Sangram Mohanta

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Fact checked by

Rex John Walsh

best forex brokers 2026
Publicly Published

Check Country Eligibility

Trading Costs Verified

Compare Trading Conditions

Review Local Arrangements

Understand Funding & Withdrawals

Introduction

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Depending on your address, a lot of the trading options can change: your account’s company, how much leverage you can use, and what happens if a dispute arises. That’s why country eligibility is the first step when choosing a Forex broker.

FxPro offers several platform choices for UK residents, while Axi offers spread-only and commission-based pricing. Australian traders can compare locally documented accounts from FP Markets, IC Markets, and Axi. If you live in New Zealand or the UAE, you need to take a closer look at Axi’s local documents and the role of its account provider.

We’ll go over these country-specific differences in more detail on this page.

 

Affiliate disclosure: We may earn a commission if you open an account through links on this page. 

Our Forex Broker Reviews

Last updated: 29 October 2026

Research checked on 27 October 2026; EU commissions and cross-border register entries rechecked on 29 October 2026. Unresolved country permissions and account details are identified where relevant.

Best Forex Brokers by Country List

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Welcome to FP Markets
Best Forex & CFD Trading Provider
Minimum Deposit $100
No Deposit Bonus.
5.0 rating
5.0
Location: Australia
Welcome to IC Markets
True ECN Forex Broker
Minimum Deposit $200
No Deposit Bonus
5.0 rating
5.0
Location: NSW, Australia.
Welcome to FxPro
Trade Like a Pro
Minimum Deposit $100
No Deposit Bonus.
4.5 rating
4.5
Location: Basinghall, England.
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 Axi
Trade with a Trusted Broker
Minimum Deposit $10
No Deposit Bonus.
4.5 rating
4.5
Location: Sydney, Australia.
Welcome to HFM
World Leader in Financial Trading
Minimum Deposit $100
100% Deposit Bonus.
4.0 rating
4.0
Location: Beachmont, Kingstown.

Compare Forex Brokers by Country

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Start with your country of residence. This table is for relevant comparison; it doesn’t rank countries or imply that every broker account is available there.
Country Broker Options Verified Regulatory Position
United Kingdom FxPro, Axi, HFM UK entities authorised by the FCA.
Germany IC Markets EU, FP Markets EU CySEC records confirm cross-border services
France IC Markets EU CySEC records confirm cross-border services
Australia FP Markets, IC Markets, Axi ASIC financial services licences
New Zealand Axi FMA-licensed derivatives issuer (FSP518226)
South Africa HFM, FP Markets Local FSPs; HFM uses a Mauritian product supplier
Kenya HFM, FP Markets, IC Markets CMA-licensed non-dealing forex brokers
UAE Axi DFSA-authorised arranger
The supporting company records and account documents appear in each country section. A listed legal entity is not a guarantee that an individual application will be accepted.

Best Forex Brokers for UK Residents

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FxPro is worth considering if you want a choice between different platforms (MT4, MT5, and cTrader). Compare Axi and HFM with it for total trading costs, GBP funding, and withdrawal terms. For applicable UK protections, open the account with the UK entities of the brokers and keep your retail client status.

Broker Availability, UK Entities, and Account Protections

Start with the company named in your client agreement. A brand name like “Axi” or “FxPro” isn’t a legal entity. The specific company that is holding your account under the broker determines your protection.

Broker UK Company FCA Reference
FxPro FxPro UK Limited 509956
Axi Axi Financial Services (UK) Limited 466201
HFM HF Markets (UK) Ltd 801701

We verified these company details using FxPro’s UK document, Axi’s FCA record, and HFM’s UK registration page.

UK retail CFD accounts often have their leverage capped at 30:1 on major currency pairs. Other products also have lower limits. Firms must close one or more positions when account equity falls to 50% of the required margin. Negative balance protection limits your CFD liability to the funds in that trading account. You can still lose the full balance.

 

Client money rules require firms to keep client funds separate from their own money. If a complaint remains unresolved, eligible customers can approach the Financial Ombudsman Service. FSCS protection may cover qualifying investment claims up to £85,000 per eligible person, per firm if the provider fails. It does not reimburse ordinary trading losses.

Which Broker Should UK Traders Choose?

FxPro gives you several platform options. Its UK entity (FxPro UK Limited) lists MT4, MT5, and cTrader platforms. You also get access to mobile versions and GBP accounts. If you already use MetaTrader indicators or prefer cTrader’s order controls, try the relevant demo before funding. Although there is no fixed minimum mentioned, the document recommends starting with $1,000 or equivalent.

Consider Axi if you trade forex frequently and want to reduce commission costs. Its UK support page mentions US$4.50 Pro commission per standard lot round trip. In comparison, FxPro’s cTrader commission is US$35 per US$1 million traded each way. On a one-lot EUR/USD trade, assuming an exchange rate of 1.1000 at both entry and exit, that would be about US$7.70 round trip. Axi’s commission would be US$3.20 lower in this example. Compare actual spreads and overnight charges before choosing, since either could offset that saving.

 

Consider HFM if you need a swap-free account through a UK-regulated company. Its UK cost disclosure includes Islamic account examples and explains the carry charges that may apply instead of swaps. Before choosing HFM over Axi or FxPro, confirm your eligibility, the instruments covered, and when carry charges begin. Swap-free trading can still involve holding costs, so compare those charges over your usual holding period.

 

Before depositing any money, check the payment minimum, withdrawal route, and currency. FxPro offers cards and bank transfers. FxPro and HFM clearly mention that they don’t have deposit or withdrawal fees. However, payment providers may still charge. Axi’s withdrawals go back to the original funding source. Other currency conversions may still apply.

Best Forex Brokers for German/French Residents

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For German residents, FP Markets EU is the stronger starting point if you want lower published commission on MetaTrader Raw accounts. IC Markets EU is worth choosing if you want to place trades directly through TradingView. CySEC’s register lists Germany for both companies, while France appears only in IC Markets EU’s country list.

Secure Finance Globe Illustration

Broker Availability, EU Entities, and Regulatory Requirements

German residents can assess both brokers through their Cyprus-authorised companies. For French residents, the register check supports IC Markets EU. The regulatory basis is EU cross-border services, rather than a domestic BaFin licence.

Cyprus Securities Exchange Commission
Broker EU Company and Licence Regulatory Position
IC Markets IC Markets (EU) Ltd; CySEC 362/18 Germany and France listed for cross-border services
FP Markets First Prudential Markets Ltd; CySEC 371/18 Germany listed for cross-border services; France not listed in the record checked

CySEC’s company records confirm these cross-border entries. Use the corresponding EU website and make sure the same company appears in your account agreement.

 

BaFin’s retail CFD restrictions include leverage limits (30:1 maximum for major currency pairs), margin close-out, and negative balance protection. These safeguards limit certain risks, but you can still lose your trading balance. An overseas account may offer higher leverage, but availability depends on your country’s rules and the broker’s permissions. The protections attached to your account may also change.

regulated_broker

Which Broker Should German Traders Choose?

Choose FP Markets EU if lower MetaTrader Raw commission is your priority. Its EU account page mentions US$3 commission per standard lot per side, which is US$3.50 at IC Markets EU. Both advertise Raw spreads from zero, so FP Markets has the lower published commission. However, actual spreads and overnight charges can still influence the total cost.

Choose IC Markets EU if you want to trade directly from TradingView charts. The EU integration works with a cTrader Raw Spread account and a free TradingView plan. It’s a helpful feature if TradingView already holds your charts, alerts, and analysis. However, the integration doesn’t include every CFD. Check instrument availability before moving.

If you prefer commission-free MetaTrader trading, IC Markets has the lower advertised starting spread. IC Markets EU advertises Standard spreads from 0.8 pips, while FP Markets EU has a starting spread of 1.0 pip.

For EUR/USD on a USD account, a 0.1-pip spread difference costs US$1 per standard lot. That can offset FP Markets’ US$1 round-trip Raw commission advantage. Use the published charges to build your shortlist, then compare the spread, commission, and financing together.

Best Forex Brokers for Australian Residentsnd

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FP Markets and IC Markets are still a strong choice for Australian trading accounts with Standard and Raw pricing. Axi is a suitable local option with separate Australian legal documents. For retail traders, the account’s Australian company and product terms should come before any comparison with higher overseas leverage.

Secure Finance Globe Illustration

Broker Availability, Australian Entities, and Account Protections

Australian sites and legal documents of these brokers identify their companies and licence references.

Australian Securities and Investment Commission
Broker Australian Company AFS License
FP Markets First Prudential Markets Pty Ltd 286354
IC Markets International Capital Markets Pty Ltd 335692
Axi AxiCorp Financial Services Pty Ltd 318232

ASIC’s retail CFD measures limit leverage by asset (including 30:1 for major currency pairs) and require margin close-out and negative balance protection.

Do not assume the same protections apply after moving to a wholesale or overseas account. IC Markets also documents segregated client trust accounts and membership of the Australian Financial Complaints Authority (AFCA).

Cyprus Securities Exchange Commission

Which Broker Should Australian Traders Choose?

Choose FP Markets if you trade frequently on MT4 and keep your account in Australian dollars. Its Australian account page lists A$3.50 per standard lot per side (or A$7 round turn) for Raw forex accounts. IC Markets lists A$9 round turn for the same trade size on an AUD-denominated MT4 Raw account. That gives FP Markets an A$2 commission advantage per standard lot, before spreads and swaps.

Choose IC Markets if you prefer cTrader or TradingView and its pricing works better for the currency pairs you trade. Their trading pricing page mentions a charge of US$3 per US$100,000 traded per side. Opening and closing one standard lot of AUD/USD at 0.6500 would cost US$3.90 round-turn, approximately A$6 if the conversion rate also stayed at 0.6500. Rates move, and spreads still count, so calculate the cost for your actual pair and trade size.

 

Consider Axi if you need a swap-free account. Its Australian website documents an Islamic account with no swaps or interest and spreads matching its Standard account. This gives you a specific account option to assess alongside the Raw accounts above. Before opening it, confirm eligibility, available instruments, and any administration charges or holding restrictions. Compare the full cost over your normal holding period rather than treating “swap-free” as cost-free.

Best Forex Brokers for New Zealand Residents

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Axi is a practical choice for New Zealand residents who want Forex and CFD trading through an FMA-licensed issuer. It provides native NZD account options to reduce funding and withdrawal conversions. Axi’s customer contracts are specifically written for NZ law.

Federal Financial Markets Service

Broker Availability, FMA Licensing, and Account Protections

The shortlist for New Zealand is narrower because overseas regulation alone doesn’t guarantee permission to offer retail Forex derivatives there. Just an FSP registration number is also insufficient.

Broker Licensed Issuer New Zealand Record
Axi AxiCorp Financial Services Pty Ltd Active FMA derivatives issuer; FSP518226

The FMA record confirms the issuer’s active licence. Check that your account agreement names AxiCorp Financial Services Pty Ltd and includes the New Zealand documents.

 

In New Zealand’s PDS, Axi mentions offering retail negative balance protection and fund segregation. It also identifies the Financial Dispute Resolution Service (FDRS) as an external complaint route after the internal process. These arrangements do not protect against ordinary trading losses.

Forex Broker Reviews

Why Choose Axi in New Zealand?

Choose Axi if you want to keep your trading balance in NZD through an FMA-licensed issuer. Its New Zealand PDS makes NZD the default account currency unless you select another one. Matching your account and funding currencies can reduce conversions when transferring money. However, trading results in other currencies may still require conversion.
The next decision is the account type. Standard includes trading charges in the spread, while Pro adds commission in exchange for lower spreads. Compare both using your usual currency pairs, trade sizes, and holding periods. Include overnight financing, since a lower entry cost may matter less when positions stay open for several days.

Before funding, test order entry, margin information, and stop controls on a demo. Confirm the current New Zealand fee schedule and the withdrawal conditions for your chosen payment method.

Best Forex Brokers for South African Residents

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HFM and FP Markets have documented South African financial service companies. The important distinction is the company arranging the account versus the company issuing the trade. A local FSP number alone doesn’t establish that every part of the trading relationship is supervised in South Africa.

regulated_broker

Broker Availability, South African Entities, and Regulatory Permissions

An FSCA financial services provider licence and permission to issue over-the-counter derivatives cover different activities. HFM explicitly identifies its local company as an intermediary.

Broker South African Company Overseas Provider Disclosed
HFM HF Markets SA (Pty) Ltd; FSP46632 HF Markets Ltd, Mauritius
FP Markets FP Markets (Pty) Ltd; FSP50926 First Prudential Markets Limited, Seychelles
HFM’s South African registration page names HF Markets Ltd in Mauritius as the product supplier. FP Markets publishes its South African company and FSP reference. Its Seychelles client agreement also names that company as the contracting provider.

Which Broker Should South African Traders Choose?

Choose HFM if you want to move from demo trading to smaller live positions. HFM defines one Cent lot as 1,000 currency units (compared with 100,000 units for a standard Forex lot). That smaller contract size gives you more room to control exposure when practising with real money. However, high leverage can still cause rapid losses.

Choose FP Markets if your trading routine depends on cTrader or TradingView. HFM has MetaTrader and its own trading interfaces as its platform. FP Markets’ account comparison lists MT4, MT5, and cTrader, with TradingView available through Raw accounts. Its published USD Raw forex commission is US$3 per standard lot per side (US$6 round turn) plus the spread.

 

If you are trading frequently, include spreads and overnight financing with commission. Contract size matters more than a low advertised starting spread for smaller live trades.

Best Forex Brokers for Kenyan Residents

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IC Markets offers documented Kenyan accounts with Standard and Raw pricing. HFM and FP Markets also have Kenyan companies on the CMA register.

Regulation and Legal Entity

Broker Availability, Kenyan Entities, and CMA Licensing

Use the Kenyan company and its licence when checking the application. A licence held elsewhere does not replace the Kenyan record.

Broker Kenyan Company CMA License
HFM HFM Investments Limited 155
FP Markets FP Markets Limited 193
IC Markets IC Markets (KE) Limited 199

The CMA lists these companies under its non-dealing online foreign exchange broker category.

Which Broker Should Kenyan Traders Choose?

Choose FP Markets if you trade frequently on MT5 and want to reduce commission costs. Its Kenyan account page mentions US$3 per standard lot per side (US$6 round turn) against US$7 round turn for IC Markets’ USD-denominated MetaTrader Raw account. Both advertise spreads from zero. Across 20 standard lots opened and closed, FP Markets’ published commission is US$20 lower, before spreads and overnight charges. Its Kenyan Raw offering also lists TradingView, making it a suitable option if you already use that platform for analysis and order entry.

Choose IC Markets if you already run MT4 indicators or Expert Advisors and want to keep that setup. Its Kenyan website lists MT4 alongside MT5 and cTrader, while FP Markets’ Kenyan account comparison lists MT5, cTrader, and TradingView. That makes IC Markets a practical choice when switching platforms would mean replacing or rewriting your tools. Its MetaTrader Standard account also advertises commission-free spreads from 0.8 pips, compared with FP Markets’ 1.0 pip starting spread. These are advertised minimums, so they do not establish which broker delivers lower costs throughout the trading day.

 

Consider HFM if you withdraw regularly and want to avoid broker-imposed transfer fees. HFM Investments Ltd’s Kenyan withdrawal policy states that it charges no deposit or withdrawal fees and processes withdrawal requests within 24 hours on business days. Bank and payment-provider charges can still apply, and processing does not mean the money reaches you within 24 hours. Withdrawals normally return through the original funding method. These terms make HFM worth comparing on cash-management costs alongside FP Markets’ Raw commission and IC Markets’ MT4 offering.

Best Forex Brokers for UAE Residents

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Axi is a practical choice for UAE residents who want a Dubai-based arranging service through an identified Australian provider. Its DIFC branch has DFSA permission to arrange deals for retail clients. The branch doesn’t hold client money, so traders should distinguish its local role from the company providing the trading products.

Risk Disclosure

Broker Availability, Contracting Entities, and UAE Regulatory Permissions

Axi’s UAE offering connects its DFSA-regulated DIFC branch with AxiCorp Financial Services Pty Ltd, which holds Australian financial services licence 318232. Its UAE legal disclosures identify AxiCorp as the issuer of the financial products.

Broker Company and Regulatory Reference Role
Axi AxiCorp Financial Services Pty Ltd, DIFC branch; DFSA F003742 Arranges deals for retail clients
Axi AxiCorp Financial Services Pty Ltd; ASIC 318232 Issues the trading products
Axi’s UAE disclosures provide negative balance protection for retail clients of AxiCorp. It doesn’t prevent the loss of the full account balance.
How We Handle Missing Information

Why Choose Axi in the UAE?

Besides the local arrangement, you can keep your MT4 and MT5 setup with Axi. The UAE account page mentions both platforms, which is suitable for traders who already use MetaTrader indicators or automated strategies.
For occasional forex trading, Standard is the simpler starting point because it has no separate trading commission. Its UAE site advertises EUR/USD spreads from 0.68 pips. The commission-based account advertises spreads from zero. Both list US$100 as recommended funding, rather than a mandatory account minimum. These are starting conditions, not measured average costs.

For frequent trading, compare the commission-based account against Standard using the spread plus commission on each completed trade. For positions held overnight, include financing charges. Axi’s published account-currency list does not include AED, so funding from an AED bank account may involve conversion.

Should Your Forex Account Be in USD or Your Home Currency?

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The better option depends on where conversions happen and what they cost. Your home currency is often the simpler choice, especially if you deposit and withdraw through a local bank account. If you already hold dollars or receive funds in USD, a USD account may make more sense.

You generally use your account currency to record your trading balance. It doesn’t limit you to trading currency pairs that contain the currency.

Global Currency Orbital Finance

When Your Home Currency Makes Sense

A home-currency account can reduce conversions when funding and withdrawing. For example, transferring GBP from a GBP bank account into a GBP trading account avoids converting that deposit into USD first. Trading profits, losses, or charges calculated in another currency may still need conversion. Some brokers also separate the funding wallet from the trading account. For example, FxPro recommends matching the wallet currency to deposit and withdrawal currencies. Transfers between a wallet and a trading account in different currencies involve conversion.

HFM’s South African registration page names HF Markets Ltd in Mauritius as the product supplier. FP Markets publishes its South African company and FSP reference. Its Seychelles client agreement also names that company as the contracting provider.
Available Markets

When a USD Account Makes Sense

A USD account can be convenient for you if you already fund your money in dollars. Moreover, it makes USD-denominated commissions and USD-quoted trade results easier to follow.
However, trading EUR/USD does not automatically make USD the cheapest account currency. If your money starts and ends in euros, pounds, or rand, converting deposits and withdrawals may outweigh any convenience during trading.

Holding a USD balance also creates exchange-rate exposure against your home currency. Your balance can gain or lose value in home-currency terms even while you have no trades open.

Compare the Full Currency Conversion Cost
Compare the journey from your bank account to the broker and back. Include:

 

  • – Bank’s exchange rate
  • – Payment-provider charges
  • – Wallet conversions
  • – Any conversion of trading results


A broker accepting deposits in your currency does not necessarily offer a trading account in that currency. Likewise, “no deposit fee” does not mean conversion is free. Choose the account currency that suits your funding and withdrawal routine, rather than selecting USD simply because it is widely used.

How We Compared Forex Brokers by Country

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We started with whether a broker serves residents of the country and which company provides the account. We used official broker pages for account details and regulator records for licensing information. Where a local branch introduces clients to another company, we explained their different roles. We then compared features that could help readers choose: trading costs, account currencies, funding and withdrawal terms, platforms, and order tools. We treated advertised spreads “from zero” as starting prices, not typical spreads or results from our own testing.

For a fair cost comparison, the instrument, platform, account currency, trade size, and holding period need to match. For example, one pip on a standard lot of EUR/USD is worth US$10 in a USD account. Therefore, a 0.7-pip spread costs US$7 before commission, overnight financing, or slippage. This is an illustration, not a broker quote.

This article is based on published research. We did not place live trades, make deposits or withdrawals, or obtain direct confirmation from support. We kept recommendations within what the sources supported and did not apply one company’s account terms or protections to another.

Labels such as ECN, STP, or market maker did not decide our recommendations. We focused on the account provider, order handling, costs, and written terms. Recommendations reflect specific trader needs rather than an overall numerical ranking.

What to Check If Your Country Is Not Listed

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Begin with your local regulator’s rules for leveraged forex and CFDs. Currency exchange, bank transfers, and speculative forex derivatives can fall under different requirements.

Before opening an account:

An offshore licence or an accessible registration form does not complete these checks. If you cannot establish the company, permissions, or account terms, do not treat the account as an eligible recommendation.

Frequently Asked Questions

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No. Some countries don’t allow Forex trading altogether; some have specific restrictions. Ordinary currency conversion differs from trading leveraged Forex CFDs. Check the local rules for the instrument, provider, and funding arrangement in your country before opening an account.
An overseas licence grants permissions in its own jurisdiction. Serving residents elsewhere may require additional authorisation, notification, or another legal basis. Match the contracting company to the requirements that apply where you live.
A global broker may serve clients through different legal entities or cross-border arrangements. Your trading conditions depend on the company named in your account agreement and the rules that apply to your account.
Ask the broker before moving. A new residence may require updated identity and address documents, different terms, an entity transfer, or account closure. Confirm what happens to open positions, balances, and withdrawal access before the change.
You need enough to meet the account’s funding requirement and trade its minimum position size without taking excessive risk. Those are different amounts.
The best platform is the one that supports how you trade. MetaTrader can be suitable for traders with existing indicators or automated strategies. TradingView can be better for traders who want analysis and order entry on the same charts.
FP Markets advertises the broadest CFD range (10,000+ instruments) from the brokers we have discussed. However, the largest advertised total isn’t necessarily available through every account. It can also vary by platform, country, and product range.
For experienced traders, the strongest choice depends on the strategy. Frequent traders may prioritise spread-plus-commission costs, while automated traders may need compatible software, hosting, and suitable order rules. Being experienced is also different from holding formal professional-client status. Choose the account for its trading conditions and legal terms, rather than assuming a “professional” label makes it better.
A beginner-friendly broker combines appropriate regulation, manageable minimum trade sizes, clear charges, and a platform that is easy to use. Useful education and a demo account also help.
Find the legal company named in the account agreement, then search for it in the relevant regulator’s official register. Match the licence number, current status, permitted activities, and website.
Start with the total cost of your usual trades: spread, round-turn commission, overnight financing, and currency conversion. Then compare minimum trade size, margin requirements, stop-out rules, and order restrictions. For short-term trading, spreads, commissions, and execution can matter most. For longer holding periods, financing deserves more attention.
You may be able to, depending on your country’s rules and the broker’s permissions. However, “international” describes a business’s reach, not the protections attached to your account.

Best Forex Broker Ratings & Comparison

Compare ratings, platform quality, and key features to find the best broker for your trading needs.

IG

☆ Overall Rating 5.0/5
▣ Mobile Trading ★★★★★
◇ Trading Fees ★★★★★
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SpotlightNo promotion is available at this time.
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FP Markets

☆ Overall Rating 5.0/5
▣ Mobile Trading ★★★★★
◇ Trading Fees ★★★★★
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SpotlightRaw spreads, strong platform choice.
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IC Markets

☆ Overall Rating 4.9/5
▣ Mobile Trading ★★★★★
◇ Trading Fees ★★★★☆
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SpotlightTight spreads and fast execution.
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FxPro

☆ Overall Rating 4.5/5
▣ Mobile Trading ★★★★☆
◇ Trading Fees ★★★★☆
♧
SpotlightMulti-platform access and established brand.
View Broker →
♢ Trading CFDs involves risk. Retail investor accounts may lose money.

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