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Forex Brokers

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What is a Forex Broker?

A Forex Broker is an intermediary between the trader and the market, for that reason is a vital component of this industry. The function of the broker is to place the orders of Buy/Sell of the client and find a buyer / seller that in some cases could be the same broker (Market Maker), depending of the market conditions. The broker can work in one or more financial markets depending of its specialization. Actually, most of the brokers allows the clients to trade with multiple instruments like the followings:

  • Forex: Dozens of currency pairs are available to be trade in the Forex market.
  • Shares (Stock Market): Hundreds of shares of the most important stock markets.
  • Indices: The most important stock indices in the world like the S&P 500 and others.
  • Commodities: There are a lot of instruments that can be classified and traded as a commoditie, for example precious metals, oil, grain, energy, corn and many others.
  • ETF (Exchanged Traded Funds): The most important ETF for investors interested in diversifying their investments with this relatively new and interesting instrument.
  • Futures: Actually, many brokers allows to negotiate Futures contracts based in many instruments like Forex, commodities, indices, shares and others.
  • Contracts Of Difference: There are contracts based in the many instruments as mentioned above.
  • Options: Many types of options can be traded in many brokers, from the most common (like Vanilla Options) to the most exotic (like binary options).
  • Bonds: In some brokers can be negotiated the most important bonds like the US Treasure Bond.
  • Others.

In the past, the Forex Brokers was specialized mostly in Forex Trading but due to competition between the different brokers (currently, there are literally dozens of these companies), now these companies offer an increasing diversity of instruments for trading. This allows traders to diversify their transactions, for example in determined broker an investor could be investing in Forex, stock indices, commodities, shares and other at the same time and through different derivatives such as options or CFD. In the case of the Forex market, the trades are made mainly through the spot market, however the currency pairs can be traded using all types of financial derivatives, many of which are also offered by these brokers.

Types of Forex Brokers

 Basically, we can classify the Forex Brokers in three mayor types depending of its execution, the spreads and the way they function:

  • ECN Brokers:These are companies that offer their customers the best prices to trade in the market since they are in direct contact with many market participants such as banks, Market Makers and other traders that are connected and trading in the same interbank network. In this way, these brokers are able to offer the best bid and ask quotes on their trading platforms based on those prices.
  • Market Makers Brokers: These are agents or companies that regularly provide quotes for buying and selling in the market  and are also willing to buy and sell at the prices stipulated. These brokers often act as the counterpart (if the trader buys the broker sells and if the trader sells the broker buys toi complete the transaction)  in the transactions of its customers. It is the most common type of Forex broker.
  • Non Dealing Desk Brokers :These are companies that employ a system that directly match orders from their liquidity providers (institutional traders) with their regular customers (retail traders).The different suppliers of liquidity  send their best prices to buy / sell (bid / ask) in the market directly to the system, so that in the broker’s trading platform, the customer has at his disposal  the best quotes that can offer the company for open positions of both buying and selling.

List of Forex-Brokers

This is a list of the most important Forex Brokers that offers online trading services around the world. All these retail brokers are classified according to the type of broker to which they belong. This list contain a link to a general review on the most important characteristics of each company. Just click in the name´s broker or in “Summary”.

Broker
Regulation*
Type of broker
Instruments
Minimum Deposit
Spreads for majors (Forex)
Payment
Broker Review
Alfatrade

-No information
Non Dealing Desk/ECN-Forex
-Commodities
-CFD
$5001.7-3-Bank Wire Transfer
-Credit Card
-Skrill
-CashU
-WebMoney
Review
XM

-CySEC
-FCA
Non Dealing Desk-Forex
-Commodities
-CFD
$51-Bank wire transfer
-Credit card
-Paypal
-Skrill
-Neteller
Review
Tradeo

-CySECNon Dealing Desk/STP-Forex
-Commodities
-CFD
-Options
-Futures
$1002-3-Bank wire transfer
-Credit card
-Skrill
-Webmoney
Review
Alpari

-No information
-FRA
Non Dealing Desk/ECN -Forex
-Commodities
-CFD
$2000.5-2-Bank wire transfer
-Credit card
-Paypal
-Skrill
-Webmoney
Review
RoboForex

-CySEC
-
-IFSC
Non Dealing Desk-Forex
-Commodities
-CFD
$100.1-0.9-Bank wire transfer
-Credit cards
-Skrill
-Webmoney
-cashU
-Perfect Money
Review
FXCC

-FCA
-CySEC
Non Dealing Desk -Forex
-Commodities
$1000.7-2-Bank wire transfer.
-Credit Card.
-Webmoney
-Skrill
-Neteller
Review
Hotforex

-FSCECN/STP-Forex$250-1-Bank Wire Transfer
-Credit Card
-Skrill
-Webmoney
-Neteller
-Payza
Review
Atlas Capital FX

Broker ACFX

-FCA
-CySEC
Market Maker -Forex
-Commodities
-CFD
$102-3-Bank wire transfer
-Credit card
-Webmoney
-Skrill
Review
Deltastock

-FCA
-BaFIN
-Others
Non Dealing Desk/ECN -Forex
-Commodities
-Stock Market
-CFD
-Futures
$1000.1-2-Bank wire transfer
-Credit card
-Skrill
Review
EXNess

-CySECECN-Forex
-Commodities
-CFD
-Futures
-Options
$100.1-2-Bank wire transfer.
-Credit Card.
Review
Trade360

-CySECNDD/STP-Forex
-Commodities
-CFD
$251.8-Bank wire transfer
-Credit card
-Skrill
-Neteller
Review
ETX Capital

-FCAMarket Maker-Forex
-Commodities
-CFD
-Spread betting
-CFD
$1000.9-3-Bank wire transfer
-Credit card
Review
EasyMarkets

-ASIC
-CySEC
Market Maker -Forex
-Commodities
$252-Bank wire transfer
-Credit card
-Skrill
-Neteller
Review
AvaTrade

-BVI
-ASIC
Market Maker -Forex
-Commodities
-CFD
$1002-3-Bank wire transfer
-Credit card
-Paypal
-Skrill
-Neteller
-Webmoney
Review
eToro

-CySEC
-FCA
Market Maker -Forex
-Commodities
$502-Bank wire transfer
-Credit card
-Paypal
-Skrill
-Neteller
Review
IronFX

-CySEC
-ASIC
-FCA
ECN/STP-Forex
-Commodities
-CFD
$5000-3-Bank wire transfer
-Credit card
-Skrill
-Neteller
-Webmoney
Review
eToroUSA

-CFTC
-NFA
Market Maker-Forex
-Commodities
-CFD
-Stocks Indices
$2502-Bank wire transfer
-Credit card
-Paypal
-Skrill
-Neteller
-Western Union
Review
Questrade

-IIROC
-CIPF
ECN-Forex
-Stocks
-Stock Options
-Gold
$10001-2-Bank wire transfer
-Certified Cheque
-Uncertified Cheque
-Online bancking
-Stocks certificates
Review
Z.Com Trade

-FCANDD/STP-Forex
-Commodities
-CFD
$102-Bank wire transfer
-Credit card
-Skrill
-Union Pay
Review
XTrade

-CySEC
-ASIC
Market Maker -Forex
-Commodities
-CFD
-Stock Indices
-Futures
$1003-Bank wire transfer
-Credit card
-Paypal
-Skrill
-Neteller
-WebMoney
Review
FxPro
Forex broker FxPro
-FCA
-CySEC
ECN/STP-Forex
-Commodities
-CFD
$5000.0-2-Bank wire transfer
-Credit card
-Paypal
-Skrill
-Webmoney
Review
ICMarkets
Forex broker ICMarkets
-ASICECN/STP-Forex
-Commodities
-CFD
$2000.1-1-Bank wire transfer
-Credit card
-Skrill
-Neteller
-Webmoney
Review
Capital Index

-FCA
-CySEC
NDD/STP-Forex
-Commodities
-CFD
-Spread betting
$1000.9-2-Bank wire transfer
-Credit card
Review
Pepperstone
Forex broker FxPro
-ASICECN/STP-Forex
-Commodities
$2000.1-1-Bank wire transfer
-Credit card
-Skrill
-Webmoney
Review
ThinkForex
Forex broker ThinkForex
-ASICECN/STP-Forex
-Commodities
-CFD
$2500.1-1-Bank wire transfer
-Credit card
-Skrill
-Neteller
Review
Forex Club

-KROUFRNon Dealing Desk-Forex
-CFD
$2000-0.6-Bank wire transfer
-Credit card
-Skrill
Review
Neto Trade
Forex broker Neto Trade
-No informationNon Dealing Desk-Forex
-Commodities
-CFD
$1000.3-3-Bank wire transfer
-Credit card
Review
Plus500


-FCAMarket Maker -Forex
-Commodities
-CFD
$1002-Bank wire transfer.
-Credit Card.
-Skrill
Review
FXOpen

-FSCECN/STP-Forex
-Commodities
$10.5-2-Bank Wire Transfer
-Credit Card
-Skrill
-Webmoney
-Payza
Review
FXOpen Aus

-ASICECN/STP-Forex
-Commodities
$2000.5-2-Bank Wire Transfer
-Credit Card
-Skrill
Review
Axitrader
Forex broker Axitrader
-ASICECN/STP-Forex
-Commodities
$2000.1-1-Bank wire transfer
-Credit card
-Skrill
-Webmoney
Review
Real Forex
broker Forex Real Forex
No information about itNon Dealing Desk/ECN -Forex
-Commodities
$5001.0-1.8-Bank wire transfer
-Credit cards
-Skrill
-Paypal
Review
Forex4you

-No informationMarket Maker -Forex
-Commodities
-CFD
$12-Bank wire transfer
-Credit card
-Skrill
-Webmoney
Review
Youtradefx

-No informationECN-Forex
-Commodities
-CFD
$101-3-Bank wire transfer
-Credit card
-Skrill
-CashU
Review
UFX

-CySECMarket Maker -Forex
-Commodities
-CFD
$5002-4-Bank Wire Transfer
-Credit Card
-Paypal
-Webmoney
-Neteller
-Skrill
-Western Union
Review
Forexyard

-No informationMarket Maker -Forex
-Commodities
-CFD
$1003-Bank Wire Transfer
-Credit Card
-Skrill
-Western Union
Review
Hy Markets

-FCAMarket Maker -Forex
-Commodities
-CFD
-Futures
$502-3-Bank Wire Transfer
-Credit Card
-Paypal
-CashU
Review
Piptrade
broker Piptrade
-FCAMarket Maker -Forex
-Commodities
-CFD
-Futures
$502-3-Bank Wire Transfer
-Credit Card
-Paypal
-CashU
Review
BMFN

Broker BMFN
-ASIC
-FCA
-FCS
Non Dealing Desk-Forex
-Commodities
-CFD
$1001-2-Bank Wire Transfer
-Credit Card
-Skrill
-Webmoney
Review
Orbex

-CySECECN-Forex
-Commodities
-CFD
$5000.6-1.9-Bank Wire Transfer
-Credit Card
-Webmoney
-Skrill
-Neteller
Review
BelforFX
Forex broker BelforFX
-No informationMarket Maker -Forex
-Commodities
-CFD
$1000.2-2-Bank Wire Transfer
-Credit Card
-Webmoney
-Skrill
-Egopay
-CashU
-Ukash
Review
FXPrimus

-FSCNon Dealing Desk/STP-Forex
-Commodities
-CFD
$2500.1-1-Bank wire transfer
-Credit card
Review
FX Global

-NFA
-CFTC
Non Dealing Desk-Forex$2000-0.6-Bank wire transfer
-Credit card
-Skrill
-Payza
Review
Markets.com

-CySEC
-FCA
-BaFIN
-AFM
Market Maker -Forex
-Commodities
-CFD
$502-Bank Wire Transfer
-Credit Card
-Webmoney
Review
AmigaFX

-CySECMarket Maker -Forex
-Commodities
-Indices
$503-Bank Wire Transfer
-Credit Card
-Neteller
-Paypal
-Skrill
Review
Trade.com

-CySECMarket Maker-Forex
-Commodities
-CFD
$2502-3-Bank wire transfer
-Credit card
-Skrill
-Neteller
Review
IFC Markets

-FSCNon Dealing Desk-Forex
-Commodities
-CFD
$12-Bank wire transfer
-Credit card
-Webmoney
Review
TurboForex

-No informationECN/STP/NDD-Forex
-Commodities
-CFD
$2500.0-3-Bank wire transfer
-Credit card
-Skrill
-Neteller
-WebMoney
Review
3TG Brokers

-Registered as a brokerage firm in New ZealandECN-Forex
-Commodities
-CFD
$3000.9-2-Bank wire transfer
-Credit card
-Skrill
Review
ForexCT
Forex broker Forex CT
-ASICMarket Maker-Forex
-Commodities
-Stock Indices
-CFD
$5002-4-Bank Wire Transfer
-Skrill
-Credit Card
Review
FXCM

-CFTC
-NFA
-FCA
Non Dealing Desk -Forex
-Commodities
$251-2-Bank Wire Transfer
-Credit Card
-Checks
Review
Instaforex

-FFMSECN-Forex
-Commodities
$100.1-2-Bank Wire Transfer
-Credit Card
-Webmoney
-Skrill
-Payza
Review
Agea

-SCMNMarket Maker -Forex
-Commodities
-Funds
-Indices
$12-Bank Wire Transfer
-Credit Card
-Webmoney
-E-dinar
Review
Tallinex
Tallinex Forex broker
-No information ECN/NDD/STP-Forex
-Commodities
$1000.0-2-Bank wire transfer
-Credit card
Review
OctaFX

-No information ECN/STP/NDD-Forex
-Commodities
$50.2-Bank wire transfer
-Credit card
-Skrill
-Neteller
-Fasapay
Review
Mercaforex


-No informationNon Dealing Desk-Forex
-Commodities
-Indices
-CFD
$1001-2-Bank Wire Transfer
-Credit Card
Review
FxFlat

-BaFINMarket Maker -Forex
-CFD
$5002-Bank Wire Transfer
-Credit Card
Review
MFX Broker

-CRRMFMECN-Forex
-Commodities
-CFD
$12-Bank Wire Transfer
-Credit Card
-Webmoney
Review
LiteForex

No informationMarket Maker-Forex
-Commodities
-CFD
$100.9-3-Bank wire transfer
-Credit card
-Skrill
-CashU
-Webmoney
-OKPay
-Egopay
-Perfect Money
Review
FXNet
Broker FXNet
-CySECNon Dealing Desk-Forex
-Commodities
-CFD
$51-Bank Wire Transfer
-Credit Card
-Skrill
-Neteller
-Webmoney
-Western Union
-Ukash
Review
FBS

-FSCECN-Forex
-Commodities
-CFD
$51-2-Bank Wire Transfer

-Credit Card
-Webmoney
-Skrill
Review
XForex

-CySECMarket Maker -Forex
-Commodities
$1002-3-Bank wire transfer
-Credit card
-Western Union
Review
Forex-Metal

Market Maker-Forex
-Commodities
-CFD
$500.9-3-Bank wire transfer
-Credit card
-Skrill
-Bitcoin
-Webmoney
-Perfect Money
Review
Admiral Markets

-FSA from EstoniaNon Dealing Desk-Forex
-Commodities
-CFD
$501-2-Bank wire transfer
-Credit card
-Skrill
Review
HFX

-No informationNon Dealing Desk-Forex
-Commodities
-CFD
$3000.3-3 -Bank wire transfer.
-Credit Card.
-Western Union.
Review
Gainsy

-No informationECN/STP-Forex
-Commodities
$100.2-2-Bank wire transfer
-Credit card
-Skrill
Review
IkonFX

-FCA
-ASIC
ECN/NDD-Forex
-Commodities
-CFD
-Futures
-Options
$1500.3-3-Bank wire transfer
-Credit card
-Skrill
Review
GCI Financial

-FSCNon Dealing Desk-Forex
-Futures
-Commodities
-Stock Indices
-Options
-CFD
$20001-2-Bank wire transfer
-Credit card
-Webmoney
-CashU
Review
Trade-24

-No information Market Maker-Forex
-Commodities
-CFD
$1000.7-3-Bank wire transfer
-Credit card
-Paypal
-Skrill
-Western Union
-CashU
Review
*More information about Forex brokers regulation can be found in the following link: Forex brokers regulation

Forex Brokers Affiliate Programs

Due to the high level of competence in the field of Forex Brokers, these companies have been forced to seek new ways to attract new customers. One of the most effective methods for acquiring new customers are the Affiliate Programs. These programs developed by some Forex Brokers, allow their affiliates to earn large sums of money promoting the services of these companies.

In other words, the affiliate programs of Forex Brokers pay their members to get new customers (traders) that open a trading account and fund it to trade in the financial markets such as Forex. Thanks to the marketing tools and the payment plans available to the affiliates, these affiliate programs are an excellent option to monetize web sites and blogs with subjects related to Forex and the market in general, for example. Also an affiliate without a website can earn money with an Affiliate Program of this type.

If you want more detailed information on the subject please use use the following link:

-List of Forex Brokers Affiliate Program

Trading contests offered by Forex brokers

Also, many Forex broker organize trading contest for demo accounts and real accounts which offer quite attractive cash prizes that can be used to trade in the market as additional capital or can be withdrawn from the account.

If you want more detailed information on the subject please use use the following link:

-List of the main trading contests offered by Forex brokers