The brokers are the entities that offer investors and speculators access to various financial markets worldwide, such as Forex, Futures market or the stock market. Given the number and variety of brokers that exists today, the task of finding a suitable broker that provides ideal conditions for trading and the most appropriate services can be complex for the novice trader, and even for the professional.
For this reason, in Forex Formation we have included several lists of brokers, which have been developed based on the following criteria:
- Trading instrument (Forex, CFD, options, etc.).
- Type of broker (ECN, NDD, STP, Market Maker).
- Trading platform.
- Regulation (companies that are under the regulation of important financial services regulators).
- Initial deposit required to open an account and trade on the market.
Each brokers list is updated regularly and includes the leading companies in their respective sectors.
Brokers directories for trading instruments
In these lists brokers are classified according to the instruments or markets these companies offer to their clients. We include directories of brokers specialized in Forex, CFDs (Contracts For Difference), stocks, futures, options and commodities (such as precious metals and energy commodities for example).
Directories of brokers in this category are:
These are the brokers that offer access to Forex market, either on the spot market (spot currency market) or derivatives based on currencies that are regularly traded on the financial market, such as options. The amount of Forex brokers is very high and continues to grow each year. In this sector we can find large companies with thousands of customers around the world which at the same time offer access to other markets, including CFD and options.
Contracts For Difference
This list includes brokers that offer Contracts For Difference (CFD) to its customers, a type of financial derivative whose popularity is growing daily, due to the many advantages it offers, including indirect access to a variety of markets, including Forex , commodities, stocks and more. Many important Forex brokers also offer CFD to its customers, which has increased its list of services.
Commodities such as precious metals (gold and silver), energy commodities (oil and natural gas) and agricultural products (corn, soy), are regularly traded on markets for different purposes, including speculation. This broker list includes companies that offer their clients access to commodities markets, mainly through derivatives such as CFDs. Many Forex and CFD brokers include various commodities among their financial instruments.
Binary options have become one of the fastest growing markets in recent years. The popularity of these derivatives has allowed the emergence of a number of binary options brokers, many of whom are legitimate, others not. The popularity of these instruments is due to its various advantages, including indirect access to a variety of markets, including Forex, commodities, stocks and other.
Brokers directories by type of broker
This category includes different companies depending on the type of broker to which they belong. The classification is based on the type of execution they offer for the trades of their customers, that is the way the trader access the market and the transactions are executed. The lists consist of ECN, STP, NDD and Market Maker brokers.
ECN Forex and CFD brokers
These are Forex and CFD brokers which are offering ECN trading execution for its customers, with fast orders processing and variable and very low spreads. These companies are interconnected with major ECN (Electronic Communication Network) trading networks which offer access to major liquidity providers, such as finance banks. Usually they offer the best trading conditions.
STP Forex and CFD Brokers
These are Forex and CFD brokers which offer their customers STP (Straight Through Processing) trading execution, where the trader’s orders are passed directly to the liquidity providers. They provide a quick and efficient execution and low and variable spreads. In many cases STP brokers are also ECN brokers (ECN/STP)
-STP Forex brokers list
NDD Forex and CFD brokers
This list includes the brokers that offer Non Dealing Desk (NDD) execution, ie without the intervention of a dealing desk, as in the case of Market Makers brokers. These brokers use a system to match the orders of their liquidity providers (institutional traders) directly with the orders of their regular customers (retail traders). They offer fast execution and low and variable spreads. Many NDD brokers are also offering a STP and/or ECN execution (ECN/STP/NDD).
Market Makers Forex and CFD Brokers
This directory brokers operating on negotiating table (dealing desk), and therefore are responsible for completing the operations of its customers by becoming their counterparts are included. The work of the Market Maker is to become the counterpart of the client in the transaction, ie literally is “creating the market” for the instrument you want to trade the trader, until you find another buyer / seller for this. These brokers offer fixed spreads its customers for most of the time.
Brokers directories by regulation
The broker lists show the companies which are licensed and regulated by important financial services regulators such as the CFTC, FCA and CySEC, so these directories include brokers offering greater certainty with respect to the legality of its practices and services.
Brokers regulated by the FCA
This list shows the brokers that are regulated by the Financial Conduct Authority (FCA), the regulator of financial services in the UK.
Brokers regulated by ASIC
This list shows the brokers that are regulated by the Australian Securities and Investment Commission (ASIC), the regulator of financial services in Australia.
Brokers regulated by CySEC
This list shows the brokers that are regulated by the Cyprus Securities and Exchange Commission (CySEC), the regulator of financial services in Cyprus.
Brokers regulated by the CFTC
This list shows the brokers that are regulated by the Commodity Futures Trading Commission (CFTC), an independent regulator of the futures and options markets in the United States.
Brokers regulated by the NFA
This list shows the brokers that are regulated by the National Futures Association (NFA), an independent regulator of the futures and options markets in the United States.
Brokers directories by trading platform
These directories classify the brokers according to the trading platform they offer their customers to trade in the markets. Depending on the different markets offered and their various services, brokers may use different trading platforms whose characteristics may vary significantly from each other.
Forex and CFD brokers who use Metatrader (4 and 5)
This directory lists the Forex and CFD brokers that offer the Metatrader platform to its customers, either Metatrader 4 and/or Metatrader 5. This application is one of the most complete and famous in the sector. It offers multiple features and tools for market analysis (including dozens of built-in indicators), access to the copytrading network of MetaQuotes and modules for the creation and implementation of automated trading systems.
Forex and CFD brokers using cTrader
This directory includes the Forex and CFD brokers offering the cTrader platform to its customers, including different versions for mobile devices and the web-based version. cTrader is a powerful trading platform, designed especially for brokers that offer ECN execution. It is a platform that provides a quick and efficient execution, and also has many modern tools and features designed for professional traders, including modules for the creation and implementation of algorithmic trading systems.
-List of brokers offering cTrader platform
Brokers that offer web-based platforms
This directory includes brokers that offer web-based platforms, ie applications that allow access to the accounts and trade in the markets from anywhere with Internet access. These platforms provides more flexibility to the trader as their transactions are not limited by location. Thanks to modern technology, these applications allow access to a variety of markets.
Brokers directories by initial deposit
Every broker has different requirements in terms of initial deposit required to open an account and trade on the markets. There are brokers that require an initial deposit of $1000 while in other the minimum deposit is $10 for example. This is because each company has a different approach for its business. Some brokers are focused on beginners and traders with little initial capital to trade in the market while others concentrate on professional traders with more investment capital.
Forex and CFD brokers with low initial capital requirements to open an account and trade
These are Forex and CFD brokers who basically have a relatively low capital requirement to open an account and trade in the market. This list includes brokers with a minimum deposit of up to $10 and a minimum transaction size of 0.01 lots.
Brokers directories by deposit/withdrawal method
Currently, the online brokers use a variety of methods for deposit and withdrawal funds, including bank transfer, credit card, debit card and electronic payment systems such as Skrill, Paypal and Neteller and others. In these directories the brokers are classified according to the payment systems they use.
This list includes brokers who use Skrill to deposit and withdraw funds from their accounts. Skrill is a UK company regulated by FCA which provides almost instantaneous transactions.
This list includes brokers that use Paypal for the deposit and withdrawal of funds from their accounts. Paypal is the most popular company of online payments globally, which is characterized by providing quick and secure services, but currently is not used by many brokers.
This list includes brokers who use Neteller to deposit and withdraw funds from their accounts. Neteller is a UK company regulated by FCA which provides almost instantaneous transactions.