Forex Trading Reviews

The Best Forex Trading

We gathered a list of 65 forex trading brokers and reviewed 8 of the best forex brokers based on 86 different forex trading features.

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Choosing the best forex broker for you

What forex trading features matter and why

Account and Portfolio

Account and Portfolio Information refers to the data and display options associated with the financial account and transaction information of a forex account. All of the best forex brokers will update account information in real time, display account balances, and provide history reports and statements. While Account and Portfolio Information is relatively important, it’s safe to assume that most forex brokers offer the most important features. An investor who requires specific portfolio reporting features may want to take a harder look at the features in this category.

Most important account and portfolio features
  • Account History Reports – You can create reports or view statements of your portfolio or account information.
  • Download Statements – You can download your account statements.
  • Export Data – You can export your portfolio or account data.
  • Gain/Loss – You can run gain and loss reports for tax planning.
  • Order Status and Balance – You can quickly view your current trading positions, open orders, and account balance.
  • Real-Time Updates – Your account balances update in real time.

Cross Currency Pairs

Cross Currency Pairs includes secondary currencies traded against each other and not against the U.S. dollar. Examples include EUR/JPY, EUR/GBP, and CAD/JPY. This category represents another set of highly traded currency pairs that most reputable brokers offer. The Cross Currency Pairs category is especially important for a forex trading account denominated in a currency other than the U.S. dollar, or for more advanced traders exploiting discrepancies between other economies.

Most important cross currency pair features
  • AUD/JPY – The broker offers trading in the Australian Dollar vs. Japanese Yen currency pair.
  • CAD/JPY – The broker offers trading in the Canadian Dollar vs. Japanese Yen currency pair.
  • CHF/JPY – The broker offers trading in the Swiss Franc vs. Japanese Yen currency pair.
  • EUR/AUD – The broker offers trading in the Euro vs. Australian Dollar currency pair.
  • EUR/CHF – The broker offers trading in the Euro vs. Swiss Franc currency pair.
  • EUR/GBP – The broker offers trading in the Euro vs. British Pound currency pair.
  • EUR/JPY – The broker offers trading in the Euro vs. Japanese Yen currency pair.
  • GBP/CHF – The broker offers trading in the British Pound vs. Swiss Franc currency pair.

Major Currency Pairs

Major Currency Pairs are the most important, most traded worldwide currency pairs available through a forex broker. These pairs consist of currencies from the world’s most developed economies including Europe, Japan, Canada, and Australia. A major currency pair is created when one of these currencies is traded against the U.S. dollar. Examples include EUR/USD and USD/CAD. Major Currency Pairs is an important category because these pairs represent the most heavily traded and liquid currency markets in forex trading.

Most important major currency pair features
  • AUD/USD – The broker offers trading in the Australian Dollar vs. the US Dollar currency pair.
  • EUR/USD – The broker offers trading in the Euro vs. US Dollar currency pair.
  • GBP/USD – The broker offers trading in the British Pound vs. US Dollar currency pair.
  • NZD/USD – The broker offers trading in the New Zealand Dollar vs. the US Dollar currency pair.
  • USD/CAD – The broker offers trading in the US Dollar vs. Canadian Dollar currency pair.
  • USD/CHF – The broker offers trading in the US Dollar vs. Swiss Franc currency pair.
  • USD/JPY – The broker offers trading in the US Dollar vs. Japanese Yen currency pair.

Trading Technology

Trading Technology encompasses all technology that enables the execution of a trade as well as tools to simplify trading or execute advanced strategies. The Trading Technology category includes a spectrum of features, from alerts and real-time quotes to the more advanced features such as automated trading and conditional orders. Trading Technology is one of the most important categories when considering a forex broker because the ability to execute a chosen strategy is highly important when forex trading.

Most important trading technology features
  • Alerts – You can set up personalized alerts for your portfolio.
  • Automated Trading – You can place trades by setting automated triggers.
  • Conditional Orders – You can place orders that, when executed, immediately triggers or cancels another order.
  • Customizable Interface – Layout and features of the trading platform can be customized and changed.
  • In Chart Trading – You can use the charting tools to actually place trades.
  • Real-time Charts – Real-time updating charting tools are available through the broker.
  • Real-time Quotes – Up-to-date price quotes are available in real time.

Customer Service and Support

Customer Service and Support is the availability of the forex broker’s support channels. The forex brokers with the best support are available during all trading hours through multiple channels including live chat, email, and phone. Some of the top forex brokers also have retail locations where you can speak to someone in person. Support especially matters for online forex trading because forex markets trade around the clock, necessitating access to support at all hours.

Most important customer service and support features
  • Email – You may access customer support by email.
  • Live Chat – You may access customer support by live chat.
  • Phone – You may access customer support by phone.
  • Trading Hours Support – You may access customer support during the majority of trading hours.

Mobile Trading

Mobile Trading is the ability to access a trading account using a mobile device. Mobile Trading encompasses the availability of dedicated apps for a variety of devices, the functionality of the features within the mobile app, and how users have rated the application. Mobile trading continues to grow in importance as the quality of applications improves to meet the demand for high-performance, on-the-go trading tools.

Most important mobile trading features
  • Android – The broker provides an app for Android devices.
  • BlackBerry – The broker provides an app for BlackBerry devices.
  • Create Alerts – You can create alerts with one or more of the mobile trading applications.
  • Favorable App Store Reviews – Three or more stars have been awarded to the broker’s iPhone app from users in the Apple App Store or Google Play.
  • iPad – The broker provides an app for the iPad.
  • iPhone – The broker provides an app for the iPhone.
  • Mobile Research – Research features are available using one of the mobile applications.
  • Mobile Website – The broker offers a separate mobile website for accessing your account from a mobile web browser.
  • Place Trades – You can place trades using your mobile device.
  • Portfolio Tracking – You can track your portfolio using a mobile device.
  • Streaming Quotes – Streaming quotes on mobile devices are available.


Research is the resources that a forex broker provides to their clients to help them make decisions and understand market activity. The research provided by the best forex brokers include advanced charting capabilities, third-party research, research reports, and market commentary. Forex trading can be highly computer driven, and some forex brokers offer traders access to historical data so they can back-test strategies before allocating real money. Research is an important category for traders who are looking for assistance in making decisions as well as independent traders who are seeking confirmation on a trade or a second opinion. Some of the more self-directed brokers offer less research amenities because they cater to more advanced traders who pay for third-party research.

Most important research features
  • Charts – You have access to charts so you can conduct research on investment products.
  • Historical Data – The broker gives you acess to historical exchange rate data.
  • Market Commentary – You have access to market commentary from outside experts.
  • News – You have access to daily market news and updates from third party services.
  • Research Reports – The broker provides you with various research reports.

Trading Platforms

Trading Platforms covers the different software platforms available for forex trading provided by the broker. Trading Platforms can differ based on a trader’s needs and are often categorized as a standard or professional platform. Additional platforms include mobile platforms to execute trades on the go and virtual platforms to test strategies without risking money. Trading Platforms is an important category if a trader is looking for a forex broker that can meet the trader’s needs as they change.

Most important trading platform features
  • Mobile – The broker offers a platform to execute trades on a mobile device.
  • Professional – The broker offers multiple platform levels including a professional platform.
  • Standard – The broker offers multiple platform levels including a standard platform.
  • Virtual Trading – The broker offers a virtual account for customers to practice trading without risking any actual money.

Introductory Offers

Forex brokers often offer promotions to attract a prospective customer. Examples of incentives include introductory offers for opening an account and customer referral programs. Others offer free trading demos so traders can practice forex trading before committing to the broker. Incentives aren’t considered very important because they’re generally not related to the actual services of the broker, but it can be nice for some customers to be aware of the potential bonuses as they make a decision between two forex brokers.

Most important introductory offer features
  • Free Demo – You can access a free trading demo so you can try one of the trading platforms.
  • Referral Program – You can be rewarded for referring a friend to the broker.
  • Special Offer – Special offers for new traders who open an account are available.

Other Investment Products

Other Investment Products consists of other investment products a forex broker makes available for someone to trade. Other Investment Products include stocks, futures, options, and CFDs. This is a less important category because most forex traders are highly specialized, but it can be a more important category for professional traders with expertise across multiple products.

Most common investment products
  • CFDs – The broker provides other instruments settled as Contract for Difference
  • Futures – The broker provides trading of some futures products.
  • Options – The broker provides trading of some options products.
  • Stocks – The broker provides trading of some stocks.

Trading Education

Education is all of the resources an online forex broker provides to help their clients learn about forex trading and navigating the platform. A forex broker that excels in the Training Education category regularly offers webinars and videos so traders can advance quickly, learn new concepts in forex trading, and easily get accustomed to the broker’s platform. Additionally, the best forex brokers provide a superb trading community to facilitate the exchange of trading ideas. Education is less important to an advanced investor, but a beginner benefits greatly from the courses and webinars offered by most forex brokers.

Most important trading education features
  • Courses – You can access educational trading or investment courses from the broker.
  • Glossary – A glossary of important investment terms is provided by the broker.
  • Live Seminars – You can attend live in-person seminars around the country from the broker.
  • Trader Community – You have access to an online community to have discussions and share advice with other traders.
  • Videos – You can view training videos on the broker’s platform.
  • Webinars – Webinars are available to help you learn about investment products.

All Forex Trading Reviews