Skip to content



Top Rated Forex Brokers List 2023

The forex market is a vast and complex realm. With so many different brokers, trading platforms, and markets to choose from, it can be hard to find the top rated forex brokers for you. However, not all of the brokers are created equal: some offer lower rates than others or have limited customer service hours that may not work for your schedule. Hence, it is necessary to create a forex broker ranking to pick the best rated forex brokers according to your preferences. This article will help you on criteria to find top ranking forex brokers as per the forex brokers rating.

Why do you Need Top Rated Forex Brokers?

Top Rated Forex Brokers ListIf you have an idea about forex trading, you should already know that forex brokers are the intermediaries between a customer and the market. Hence, you must need a broker to initiate any sort of forex trading. Nowadays, there are several types of Forex Brokers available for you: ECN (Electronic Communication Network), STP (Straight Through Processing), or Market Makers. Whatever the type you choose, you should always seek the top rated forex brokers! BUT WHY? Here we provide some useful information about best rated forex brokers!

The main thing that makes a good broker better than others – it's their ability to offer you high-quality service delivered through effective trading platforms and meeting security standards. Also, an important factor is low spreads and fast execution of your order. Top forex brokers will never offer you bad service, so if you are not sure which broker to choose – simply ask them about their customers!

Another useful thing is that top rated Forex Brokers provide their customers with different types of forex bonuses and promotions in the form of cashback or free trading time. For example, making it easier for newbies to start learning the market basics.

Top rated online forex brokers are here to make your work easy, and don't forget that top ranking forex brokers will never cheat you by providing bad service or stealing money from your real accounts.


We only list licensed brokers that comply with the requirements of prominent regulatory agencies.


The minimum amount you need to deposit in order to start trading.


Leverage refers to the ratio of securities you can buy for a given payment. The higher the leverage ratio, the higher your buying power (and the higher the risk). For example, a leverage ratio of 500:1 means you can purchase 500 securities, but only pay the equivalent of 1 security valuation. The leverage ratio offered can vary depending on the experience level of the trader.

No Bonus

Telephone: +44 28 2544 7780

  • Excellent education tools
  • Low forex fees
  • Fast account opening
  • Easy funding methods
  • No bonuses
Platforms & Devices
No Bonus

Telephone: +44 (0) 203 151 5550

  • Excellent customer service
  • Free deposit and withdrawal
  • Negative balance protection
  • Wide range of platform
  • Inactivity fee
  • High Trading Fees for some CFDs
Platforms & Devices
No Bonus

Telephone: +248 467 19 76

  • Low forex fees
  • Fast order execution
  • Analytical training materials
  • 90+ instruments
  • Slow live chat support
  • Non-EU traders don’t get investor protection
Platforms & Devices

Telephone: +35 7251 23212

  • No withdrawal fee
  • Low stock and stock index CFD fees
  • Negative balance protection
  • No inactivity fee
  • Average forex CFD fees
  • No PAMM accounts
Platforms & Devices
Up to $5000

Telephone: +501 223-6696

  • Low withdrawal fees
  • Great educational tools
  • Wide range of leverage
  • Multilingual customer support
  • Non-EU traders don’t get investor protection
  • Lack of weekend customer support
Platforms & Devices
No Bonus


  • 9 base currencies
  • 24/7 technical service
  • Direct market access
  • VPS, FIX API, copy trading
  • Superior trading conditions
  • No negative balance protection
  • Withdrawal fees
Platforms & Devices

Telephone: +44-2030978571

  • Low spread
  • Controlled by several regulators
  • Numerous deposit and withdrawal
  • Favorable trading conditions
  • Few account currencies
  • Only USD or EUR as base currencies
Platforms & Devices
No Bonus

Telephone: +61 2 9965 5830

  • Automatic insurance coverage
  • Low entry threshold
  • Fully digital account opening
  • Low forex fees
  • Limited research tools
  • Only forex and CFD trading
Platforms & Devices
up to $1000

Telephone: 1 212 858 7690

  • Outstanding research tools
  • Excellent trading platforms
  • Accepts U.S. clients
  • Superior research offerings
  • No account protection for U.S. clients
  • Monthly inactivity fee
Platforms & Devices
No Bonus

Telephone: +1786 628 1209

  • Digital account opening process
  • Seamless deposit and withdrawal
  • Attractive trading conditions
  • No inactivity fee
  • No cent account
  • Few analytical materials
Platforms & Devices

How to Choose the Best Rated Forex Brokers?

There are many different Forex Brokers out there. It may be hard to choose the best one for you, but if you take enough time and compare all pros and cons of each broker before making your choice, it definitely will help. Read on to know the criteria to pick the best rated forex brokers.


Forex brokers offer traders a variety of different fee structures, all of which should be clearly disclosed to the trader. Nevertheless, different fees will apply depending on where you make your transactions, how many lots per trade you buy or sell, the currency pair(s) traded, and other factors. The first thing to do is make sure you know about all fees the broker charges. Most brokers charge commissions, but some offer free trades (meaning no trading fee). Also, there are ECN-type brokers that only take a small cut of your profits instead of charging a commission per trade. It is up to you what type of fee structure you choose, but it is always wise to make sure the fees are reasonable and not too high for the services provided. Based on different fee structures, you can work on forex broker ranking and identify the rated brokers.

Market Coverage

Forex Brokers differ in terms of market coverage they provide. Some cover stocks and futures too. Others also offered CFD products like indices or commodities etc. So look for what is important for you!

However, best rated forex brokers should offer a wide range of markets and instruments. One thing we suggest looking for when researching which forex broker is going to provide you with the best possible market coverage is a broker that will actually allow you to control your own trading. Choosing a broker with a wide range of instruments will give you easy access to the market.

Operating Model

Every forex broker needs an operating model to run the business. The model is the set of policies, procedures, and standards which govern different areas of operations like compliance, how accounts are handled, etc. These play a vital role in ensuring that everything runs smoothly (that's why these are called 'operating'). However, the operating model should not be an issue if you pick any top rated forex brokers.

Accessibility and Affordability 

One of the most talked-about things in online trading today is accessibility and affordability. Many beginners are put off by the charges levied for these two important factors. Nonetheless, you will find many top rated online forex brokers claiming they are affordable, yet you can be charged with small amounts that may seem trivial but will, over time, cost huge sums of money.

Some begin charging as soon as you place your first trade with them. They continue to charge until you close your account! Other forex brokers offer what seems like free services at first glance but then hit you with unexpected charges, or worse still, they have terms and conditions that are so long it is near impossible to know what you agree to when entering into an account with. Before you open an account with any broker, it is imperative that you check the terms and conditions very carefully.

It is also important to look at how accessible your chosen forex broker is if there should be a problem. Based on all these findings, you can create forex brokers rating.


A forex trading platform is used by traders to buy and sell currencies online. A simple definition of the term "platform" is that it's a type of foundation; in this case, it's the foundation for transacting business in foreign currency. There are several platforms available, but the most popular ones include MT4 (MetaTrader 4), MT5 (MetaTrader 5). There are many more out there which you might prefer or dislike for one reason or another.

Top rated forex brokers platform comes with different features and customizability options so you can choose what works best for your trading needs. For example, MT4 can give you a customization feature while it can also connect you with third-party trading platforms. So, while registering with a forex broker, see what platform they offer and the benefits of using that particular platform. However, our suggestion will be to choose a broker with a flexible platform like MT4.


In any trade, there are strategies to help traders make the best decisions. In forex trading, there are several of these strategies that can be used by all types of traders. Depending on which strategy you use will depend on your success as a trader.

Usually, the top rated forex brokers help you to apply different trading strategies. The first type of forex trading strategy is fundamental analysis. This is where you look into the macroeconomic conditions of a certain country and how it might affect their currency's value in a future time frame. Such examples include inflation rates, interest rate changes, weather patterns, or political events such as elections or wars. If you foresee any of those things affecting the value of the currency in question, then it might be considered a good moment to buy or sell currency at this time using daily, weekly or monthly charts.

Other strategies are similar but are not quite same. A forex trading strategy can also include technical analysis. This decision-making process is based on computer algorithms that make predictions using price charts to determine when certain patterns indicate buying points or selling points in a currency pair. Technical analysts will often use indicators derived from past performance, including moving averages, support and resistance levels, volatility indicators, and trend lines, among others. These tools help them to figure out if their investment will be worth it by helping them predict future moves of the currency's value against another currency or even if the entire world economy is slowing down or speeding up, which would affect all other currencies on earth as well! When finding the top ranking forex brokers, make sure the broker allows you to work on any of these strategies.

The common theme between all these strategies is that they use a computer program to make money for you while you sleep. Because trading with a robot is highly automated and fast compared to how long it would take for a human being to do the same thing. Robots let their investments sit there even if no news comes out right away because they only trade when certain conditions have been met, which makes forex trading strategies even more useful. Still, you need to know what all these strategies are in order to get the best deal and be able to compare their results in a fair manner.

Deposits and Withdrawals

Typically, forex brokers do not charge any fees for depositing funds. This is because they make money by charging spreads and commissions on the trades you conduct with them.

Most reputable forex brokers will accept multiple deposit options. These include credit cards, debit cards, bank transfers, and various electronic wallets such as Skrill or Neteller. However, Credit Cards are the most popular payment method for depositing money into your trading account. They provide quick access to funds in most cases (Visa/Mastercard is used by every Forex broker), but they are also associated with high processing fees, which often exceed 3%.

Bank Transfers take a few days for funds to become available, which can be discouraging if you want instant access to your winnings. Additionally, for this type of payment method to be used, the trader must have a bank account attached to their trading account. This can be done easily by providing your financial institution's routing number and your account number in the "bank details" field.

Deposit options are also dependent on country restrictions which can vary depending on the location you are making the deposit from. Some brokers will accept US clients while others will not -- keep an eye out for any red flags when selecting a Forex broker. So, these are the common deposit or withdrawal criteria for the best forex broker ranking.


Forex broker's reputation is extremely important to Forex traders. If they are not satisfied with the broker's reputation, most likely, they will stop using them or change for a better one. Top rated forex brokers earn a reputation through following some guidelines such as quality of service, regulations, trading cost, policies, conditions, etc. Overall a good reputation represents a broker's overall condition. So, while you make the best forex broker ranking, reputation will play a vital role.


There are a lot of forex brokers in the market today. One of the main problems that clients face is, they don't have protection under the law since they aren't regulated by any independent financial institution or government agency. Most people think that there is sufficient regulation in the financial world, and most scammers will get caught sooner or later. There's a big misconception about this thought because all the major scams in history had been perpetrated by very well-known companies who were operating legally at their time before being exposed as scams. So, you should check the forex regulations of the broker carefully. Nevertheless, top rated online forex brokers are regulated. But, you have to check what level of the regulatory body provides their license.

Customer Support

As a beginner or amateur Forex trader, you might receive some help from your friend or even from an expert to make the whole process as simple as possible. However, when it comes down to tough times and questions arise with regard to various complex problems regarding the trading system. Every single person who is involved in this business will come across a number of challenges. In case you are unable to meet those challenges by yourself, forex broker's customer support will come in handy. Nevertheless, the top rated online forex brokers have high-quality customer support that can be used for resolving all sorts of issues.

Background and History

Forex trading has become increasingly popular in recent years due to its flexibility, variety, and the almost endless choice of platforms. That is why many new brokerages have entered the Forex marketplace, offering traders a vast array of services. However, many do not seem to be regulated by proper regulatory authority or other regulatory bodies, which can leave you wondering whether or not they are legitimate. When choosing a top rated online forex brokers, it is important to check out who they really are and where they operate from. This can help you decide if their services are legitimate so you know what you are dealing with before jumping in headfirst.

Many people seek out a new broker without even bothering to see what type of company they are really dealing with. If you find a new broker or if you are just researching one, then it is best to check out who they really are. That's how you can create the best forex broker ranking.


A trader will always need to track the market's movements. But this is not the only thing that makes up trading. Individual traders also need to monitor other information, such as business data and news headlines.

And because of this, they actually need more than just a tracker in order to be able to take advantage of every possible opportunity that comes their way. That's why many top rated forex brokers today are including educational features within their platforms. And it also helps explain why forex broker education has become highly important over time.

With the education feature, you get access to training materials so you can learn how the platform works before jumping right into using it. Further, you can get answers to all your questions about the platform, its features, and how to use these properly. You can even learn about other relevant topics that will help you be more successful in forex trading overall.

The education content does not necessarily come for free, but it's actually included within your subscription fee already. And there are some best rated forex brokers out there who have completely removed this charge, so you don't need to worry about having to pay extra just to access this unique feature.

So why is forex broker education important? For one thing, it helps traders manage their time effectively. They no longer have to look for all of the necessary information separately because everything they need can now be found under one roof. That means less confusion and mistakes leading into the future. Check our Free Forex Trading Education Courses.

Use this list as your own personal guide while making decisions about which top rated forex brokers might be right for you. You may find some things missing or added depending upon what suits your needs! This should serve only as an initial place to start looking at different options before narrowing down further with more specific items.

Are Top Rated Forex Brokers Reliable?

Top rated forex brokers are a dime a dozen these days, but how is it that they all seem to have the same edge over their competitors? Are top rated forex brokers reliable? Yes. Are they all as reliable as each other? No. Read on to know what goes on behind the curtain of the world of online trading.

The key point here is research and comparison! A few years ago, before there were so many forex sites on the internet, it was easy to identify those top rated forex brokers based on forex brokers rating who really had an advantage over others with a short amount of time and effort. However, today it's not that simple anymore. It has become a very competitive market with most big players going for volume rather than quality – just look at how many forex sites have been set up in the last few years.

To get top rated forex brokers, you need to understand that just because a website has a flashy design or big-name sponsorships doesn't necessarily mean it's the best. Yes, this is true for almost any type of business dealing though, there are some reputable sites with affiliate programs that don't maintain the highest standards when it comes to customer service and effective communication.

Mainstream media can be misleading regarding the forex brokers rating – there are plenty of ads out there making unverifiable claims about super-high returns on investment if you sign up for this trading system. Sure, "there's no such thing as free lunch," so these kinds of offers come with strings attached. In this case, the difference is that the strings attached to top rated forex brokers are not visible and will do everything they can to keep it hidden from you (for example: inadequately disclosing the risks associated with trading).

Hence, we can conclude that not all the top rated forex brokers are reliable. You will need to research them properly based on the criteria we have mentioned in this article.

Top Rated Online Forex Brokers: Types

The forex market is enormous, with an average daily trade volume of more than 4 trillion dollars. Every major bank and financial institution in the world is trading currencies on a 24-hour basis without any break. This gives traders an excellent opportunity to show their skills at reading the charts and predicting future trends by taking advantage of price gaps, the inner workings of which are nevertheless hidden from them. So what are the broker types you should consider while looking for top ranking forex brokers? Let's find them out.

No Dealing Desk

No-dealing-desk (NDD) execution means that your order submitted into the interbank network will be matched against any other buy or sell orders within that same queue without prior knowledge of your interest. The bank will trade with you only if the price is at or better than what you requested, so NDD allows a trader to get a worse price for a given quantity and time frame.

No dealing desk brokers are an increasingly popular choice for forex traders looking to maximize their liquidity provider access. That's because they have direct access to the interbank network without having to go through multiple levels of market makers that can add delay and opacity into execution pricing.

The best rated forex brokers know the real exchange rate used by banks but have no influence over that rate. Those who want their trades to be matched closely with market conditions may not opt for NDD execution, while those seeking deeper liquidity pools, lower transaction costs, and fewer delays may prefer it.

The biggest advantage of NDD execution is that it significantly reduces transaction costs. There is only one price, whereas dealing desk brokers use different trading venues, which usually leads to three or more prices.

However, the major drawback of the No Dealing Desk Approach is that if there aren't enough orders at your chosen level, then you will pay another price. This isn't necessarily a disadvantage as long as you are aware that this may happen and can trade accordingly.

ECN Brokers

ECN stands for "electronic communications network," and it is a way of transferring information between two parties who do not know each other.

The forex market uses Electronic Communications Networks (ECNs), which offer direct access to other traders without relying on the traditional intermediaries such as banks and brokers. ECNs eliminate the role of middlemen by creating partnership-like relationships between individual trading desks or firms and their clients. The main idea behind this structure is that every participant directly interacts with every other participant in the ECN, thus increasing efficiency and reducing costs.

An ECN forex broker implements an anonymous order book within its electronic trading platform, which consists of orders placed by clients. The ECN part of the platform matches, buys and sells orders from all users in real-time. Thus, in fact, not only does ECN broker save money on commissions charged to its traders, but it enhances transparency too.

Nowadays, ECN forex brokers are rising in popularity because they do not charge any transaction fees, their prices are much more competitive than direct market access businesses (which is great for retail traders), they are trustworthy enough when it comes to handling client security deposits, and their trading conditions are extremely advanced.

Dealing Desk or Market Maker

A dealing desk forex broker is a type of forex broker that acts as a counterparty to transactions, unlike a no dealing desk forex broker.

A dealing desk forex brokers engage in the trading activity on their own account or for one or more customers for whom they hold segregated funds from other clients. These accounts are typically used by institutional investors and authorized individuals. It is not uncommon for retail brokers to provide direct market access through both a proprietary electronic platform as well as through an agency execution system.

Final Words

Finding the top rated forex brokers might seem like a difficult process, but once you know what factors are most important for your needs, then narrowing down which one works best for you becomes much easier. It is always best to start off by searching online first in order to determine which FX Brokerages have received the highest ratings from other traders as well as which ones offer certain perks such as low spreads, no commission fees, or even free access. Once you have chosen one of these brokerages, be sure to compare their rates against each other so that you may find the fairest deal possible!

However, if you don't want to go through all these hassles, you can pick any of the brokers from the list we have mentioned in this article.

Top Rated Premium Forex Signals Services

Top Rated Premium Forex Signals Services

forex brokers review

Top Rated Online Best Forex Brokers 2023

Best Forex VIP Signals Provider
FBS Broker Offer
Scroll To Top