Compare the best forex brokers with our leading comparison tool at WR Trading to help you evaluate multiple forex brokers quickly and confidently using reliable, up-to-date information.
Now, all in one place, you can filter and find each Forex broker’s platform, key features, support, regulation, current offers, available asset classes, execution types, trading accounts, fees and spreads, trading software, and payment methods (for both deposits and withdrawals), as well as our very own independent ratings, trust scores, and links to our extensive reviews for each broker.
How to Use Our Forex Broker Comparison Tool
Our forex broker comparison tool lets you compare forex brokers across different countries and regions and review key aspects, including their regulatory status, current offers, account types, available leverage, fees, trading platforms, deposit and withdrawal payment methods, customer service and support, and many more to find out the best broker for your own unique use case and conditions.
Here’s a step-by-step process on how to effectively use our forex broker comparison tool:
Step 1: Open WR Trading Forex Broker Comparison Tool
Open our proprietary Forex Broker Comparison Tool page by going to https://wrtrading.com/broker/compare/ in your preferred browser on any device (whether Windows, macOS, Android, or iOS).
Step 2: Choose the Brokers You Want to Compare
Select the brokers you want to compare. You can choose 1 broker and see all its specifications, or up to 5 brokers for a detailed side-by-side comparison. Currently, our tool covers 80+ forex brokers available for you to compare.
Step 3: Review the Overall Rating
Third, after selecting the brokers you want to compare, the first section you will see is the “Overall Rating” tab. Here, you can see our independent rating from 1 (lowest) to 5 (highest). For this section, we look at nine criteria: Trade Execution, Commissions & Fees, Offering of Investments, Platform & Tools, Mobile Trading, Education, Support, Deposit, and Withdrawal. We rate these nine aspects from 1 to 5, then average them to produce our overall rating.
If you’re curious or want to dig deeper into why we gave each of these ratings, you can select the “Read the Review” link in the final tab under this section (i.e., Detailed Review), where we comprehensively reviewed the broker and explained in detail the reasons behind each of the scores we gave.
Step 4: Review the Breakdown (all available factors)
Fourth, when you scroll down, you will then see a much more detailed breakdown of all the different aspects for you to evaluate. This is extremely useful if you are looking for a specific feature or factor. These sections are: Broker Pictures, Regulation, Trading Offers, Trade Execution, Trading Account, Fees, Trading Software, and Deposit & Withdrawal.
For the “Broker Pictures” section, you will see a quick visual tour of each broker’s trading platform, research, mobile trading, and education galleries. This will allow you to evaluate each broker’s User Interface (UI) and see if you prefer the look of one broker compared to another.
The “Regulation” section provides a quick overview of the regulatory status of each broker. Under this section, you will see if the broker is regulated under the European Union Authorised (MiFID), and any Tier-1, Tier-2, and Tier-3 Licenses it has.
In addition, you will also be able to see all the countries the broker does not support. Hence, if you see your country listed here, then that means you are unfortunately cannot open an account with that particular broker. The good news is that this saves you time by filtering out ineligible options so you can focus on brokers that accept clients from your country.
Next, the “Trading Offers” section gives a quick glance at all the available assets you can trade with that broker. This section allows you to filter and ensure the asset class you are looking to trade is available. Under this section, you will also see the maximum amount of leverage available and whether the broker offers a copy trading function.
Under that, you will see the “Trade Execution” section. Here, you will see the usual execution time of your trades and the availability of different types of trade execution, including ECN, DMA, STP, and NDD. This is particularly useful for experienced and advanced traders who want access to these order types.
The “Trading Account” section tells you all the broker’s available account types, currencies, current bonuses, demo functionality, and even support for an Islamic account. Here, you will be able to compare and contrast the how many account types being offered by each broker and see which broker has the most attractive accounts for your specific use case.
Following that is the “Fees” section, where you will see the brokers’ different fee structures, including spreads with and without commissions, their overnight fees, account maintenance fees, inactivity fees, platform fees, and even market data fees. Hence, this section lets you compare and pick the broker with the lowest overall costs (fees and spreads).
Scrolling further, you will then see the “Trading Software” section, where it enumerates various trading software, including if the broker has a mobile app and supports MetaTrader 4 & 5, TradingView, and cTrader. This will help you see if the broker has your preferred trading software at a mere glance.
Lastly, the last section (just before our summary table) is the “Deposit and Withdrawal” where you will be able to see the brokers’ deposit and withdrawal requirements, fees, duration, and all the accepted payment methods. This will allow you to quickly evaluate which brokers have the lowest fees, fastest withdrawal duration, as well as the available payment methods, particularly for your specific country or region.
Step 5: View Our Summary Table
Finally, when you scroll to the bottom, you will see our Summary Table with the key details to take away. It includes our overall rating (a recap of the first section), our proprietary Trust Score from 1 to 99 based on our findings (higher is better), a link to the broker’s website, and a link to our independent broker review. Overall, this table captures the essential information we want you to remember and use to compare across brokers.
Key Specifications Table Of The WR Trading Forex Broker Compare Tool:
| Key Specifications: | Details: |
|---|---|
| 1. Maximum number of brokers you can compare | You can compare a maximum of 5 brokers at any given time |
| 2. Minimum number of brokers you can compare | You can choose even 1 broker to see all of its available specifications. Regardless, for you to have a side-by-side comparison, you need to select at least 2 brokers. |
| 3. Regulated Brokers | These are brokers with at least one active regulation (from European Union Authorized, or a Tier 1, 2, or 3 license) |
| 4. Unregulated Brokers | These are brokers with no active regulation from any regulatory body |
| 5. Brokers That Accept US Clients | You will find this by going to the “Regulation” section and looking at the “Not-accepted countries.” If the USA is not listed, then that means the broker can accept US clients. |
| 6. High Leverage Brokers | You will find this under the “Trading Offers” section. In general, a broker offering at least 1:100 leverage is considered “high.” Note that the availability of high leverage still depends on your region. |
| 7. Broker User Interface | You will be able to compare different broker UIs by going to the “Broker Pictures” tab and checking their trading platform and mobile trading galleries. |
| 8. Educational Resources | You will see the available educational materials under the “Broker Pictures” section’s Education Gallery. |
| 9. Copy Trading Support | You will be able to see whether the broker supports copy trading by going to the “Trading Offers” section and scrolling all the way down. A green check indicates that the broker supports it, and a red cross indicates that it does not. |
| 10. Support for Different Execution Types | You can find all the supported execution types by going to the “Trade Execution” section. Here, you will see if the broker supports (or not) ECN, DMA, STP, and NDD. |
| 11. Demo Account Availability | You can see whether the broker has a demo account or not by scrolling to the “Trading Account” section, where you will find “Demo account.” |
| 12. Available Account Currencies | Scroll down to the bottom of the “Trading Account” section and check all the listed currencies. You will then see all the currencies you can have when you open an account with that broker. |
| 13. Fees and Spreads Information | Scroll down to the “Fees” section. Under this section, you will see all the fees and spreads the broker imposes, and how much |
| 14. MetaTrader 4 & 5 Platform Support | Scroll down to the “Trading Software” section and look for the “MetaTrader 4” and “MetaTrader 5.” A green check indicates that the broker supports it, and a red cross indicates that it does not. |
| 15. cTrader Platform Support | Scroll down to the “Trading Software” section. At the bottom of the section, you will see “cTrader.” A green check indicates that the broker supports it, and a red cross indicates that it does not. |
| 16. Mobile App Availability | Scroll down the the “Trading Software” section. From here, look for the “Mobile App.” A green check indicates that the broker supports it, and a red cross indicates that it does not. |
| 17. Deposit Requirements | Scroll down to the “Deposit and Withdrawal” section. Here, you will find the minimum and maximum deposits you can make, as well as the deposit fee (if there is) |
| 18. Withdrawal Requirements | Scroll down to the “Deposit and Withdrawal” section. You will find the minimum and maximum withdrawal requirements, any withdrawal fee, and how long it typically lasts before it goes to your chosen payment method |
| 19. Supported Payment Methods | Under the “Deposit and Withdrawal” section, you can view all payment methods the broker supports. |
| 20. Our Independent Broker Review | Scroll down to the very bottom, here you will find the “Summary” section. The last line item is the link to our independent broker review, where we extensively reviewed the broker and explained in detail the reasons behind each of the scores we gave. |
How We Rated Different Forex Brokers:
We compared and tested different forex brokers using our independent review methodology, which comprehensively covers important quantitative and qualitative aspects to ensure our review process is balanced and transparent. These aspects are: security (the brokers’ regulation and deposit protection), different offers and conditions, trading platforms (including their mobile apps), various account types (and their opening process), payment methods and fees, deposit and withdrawal requirements, suitability for beginners (their educational resources and demo trading), and, of course, their customer service and support.
In addition, we test the top forex brokers on various operating systems (OS), including Windows and macOS for desktop, and Android and iOS for mobile. For scoring, we built a proprietary system called Trust Score. It draws on extensive data and our research into brokers and regulators. We then give each broker a Trust Score from 1 to 99, with higher scores indicating greater trustworthiness based on our overall assessment.
Here’s the full list of quantitative and qualitative attributes (factors) we considered to determine our broker ratings and scores:
| Factors: | Evaluation Scope: |
|---|---|
| 1. Forex Broker Security | All of the broker’s current regulations (from various regulatory bodies around the world) as well as the deposit protection measures it has in place to ensure your fund’s safety. |
| 2. Different Offers and Conditions | All the perks and bonuses each of the broker has, as well as the corresponding conditions attached. |
| 3. Trading Platforms | The broker’s available trading platforms for both desktop and mobile (apps). |
| 4. Account Types and Process | The various account types each of the broker offers and how easy or difficult their account opening process is. |
| 5. Payment Methods and Fees | All the available payment methods, including their respective fees (so we can benchmark the costs relative to other brokers) |
| 6. Suitability for Beginners | All the available educational resources that each broker provides, as well as how beginner-friendly their demo trading functionality. |
| 7. Customer Service and Support | How responsive and reliable each of the broker’s customer support. We also looked at other traders’ experiences when they encountered problems or issues. |
| 8. Operating System (OS) Compatibility | We looked at OS compatibility, including Windows and macOS (desktop), and Android and iOS (mobile). |
| 9. Minimum Deposit and Withdrawal | We benchmarked how each of the broker compares when it comes to their minimum deposit and withdrawal requirements. |
| 10. Available Trading Platforms | We looked at the number of available trading software each of the brokers supports, including MetaTrader 4 & 5, TradingView, and cTrader. |
Why You Can Trust Us
Our forex brokers comparison at WR Trading uses an evidence-based and transparent review methodology that combines both qualitative and quantitative factors. In addition, we did hands-on testing using our own money to open trading accounts with each broker and ensured that we evaluated all of them using the same “measuring stick,” so our final ratings and scores are based on standardized criteria and consistent weights. By doing so, this also prevents our ratings and scores from depending on purely subjective assessment (or “how we feel”) about each broker.
How to Find the Best Forex Broker For You:
While our broker comparison tool is indeed comprehensive, it can also be overwhelming, particularly for beginners, as there seems to be a wide range of features and aspects (and corresponding information) listed. Hence, on our forex trading platform comparison table, we recommend first identifying what features and aspects are the most important for your own use case in order to find the best broker that suits your trading style the best.
Here are our overall recommendations, based on your general profile and location:
1. US and EU Traders
If you live in a country where forex trading is highly regulated (e.g., USA, EU, etc.) then your most important criterion is the broker’s regulation, particularly the “Not accepted countries” tab.
2. Beginner Traders
If you’re a total beginner and do not know where to start, we recommend focusing on our “Overall Rating” and “Trust Score” and finding the brokers that have the highest rating and score. We then recommend looking at the broker’s available educational resources, demo account, and deposit requirements (if you want to start small) to find the best forex broker for beginners.
3. Experienced Traders
If you’re an experienced trader, the important aspects you need to consider are the available asset classes, leverage size, trade execution types, fees and spreads, and support for your preferred trading platform.
4. Algorithmic, Automated, and High-Frequency Traders
If this is you, then the most important aspects you need to consider are the execution time (how fast or slow different brokers execute your orders) as well as all the available execution types that each of the broker supports. In our comparison tool, you can quickly see these under the “Trade Execution” section, where we personally test how fast (on average) each of the brokers executes orders. You’ll also see all the different execution types available and if the broker allows HFT Algo Trading.
5. Traders with Small Accounts
If you’re a trader with limited funds or simply want to start small, then the most important aspect you need to consider is the minimum deposit requirement of each broker. Also, you need to consider the cost of your preferred payment method when you are depositing when finding the best forex broker for micro accounts.
In addition, some brokers excel at a specific aspect or feature. Notably, these brokers are:
- Vantage Markets – It has one of the most comprehensive bonus packages as well as consistent and frequent promotions.
- Capital.com – Known for its strong education resources, with its own learning app and an award-winning proprietary platform, making it a great choice for beginners.
- Etoro – Best for social copy trading via its own CopyTrader feature as well as a large community of traders (particularly on Social Media).
- Trading.com – Highly regarded as one of the best brokers for US residents. In fact, it regularly wins recognition and awards in the US.
- Charles Schwab – A highly reputable household name that is known across the global financial industry. It actively offers one of the widest asset classes range outside of forex.
