Forex Broker Reviews - Forex and CFD brokers reviewed and rated. Updated for 2020

EuropeFX Broker Review

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EuropeFX Review

EuropeFX was founded in 2013 and is based in Cyprus. The broker is a brand of Maxiflex Ltd and is regulated by CySEC as well as multiple other European regulators and the Australian regulator ASIC. Despite being a new broker, EuropeFX has managed to gain the trust of both advanced and beginner traders with its professional and modern approach to trading.

EuropeFX offers a variety of tradeable instruments such as stocks, forex, indices, CFDs, commodities and cryptocurrencies. The broker follows STP execution which means that the broker’s fee is included in the spread. This form of execution guarantees no conflict of interest for the clients of EuropeFX as well as better trading environment.


Ava Trade Review

AvaTrade was founded in Dublin, Ireland in 2006. The broker is fully licensed and regulated by several regulators such as ASIC, MiFID, FSA and FSCA. AvaTrade is committed to providing a safe trading environment and strictly follows the regulations enforced on by its regulators. Due to this, AvaTrade is considered to be a low to average- risk company.

AvaTrade offers its services to 150+ countries and has over 200,000 registered traders. The broker is a market maker and operates through dealing desks.


BDSwiss Review

BDSwiss was established in 2012. The broker prides itself with a large clientele base of over a million users from 150 different countries.  The broker boasts in having a trading volume of €20 billion forex trades per month. BDSwiss was founded in Switzerland which remains to be its headquarters; however, the broker has offices in other countries like Seychelles, Mauritius and Cyprus.

BDSwiss is regulated by CySEC and FSC and is member of the IFCT in effort to protect investors’ funds. The broker’s excellent reputation makes it a popular broker to use for new traders.


easyMarkets Review

EasyMarkets was established in 2001, initially under the name ‘easy-forex’. In 2015, the broker rebranded to ‘easyMarkets’. The broker prides itself in offering simple and honest trading services.

The broker was founded in Majuro, Marshall Islands but is currently headquartered in Cyprus with offices around the world in Sydney, Warsaw and Shanghai. EasyMarkets is licensed and regulated by CySEC as well the Australian regulator ASIC.

eToro Review

eToro Review

eToro was founded in 2007 in Tel Aviv, Israel. The broker is also a fintech company and is currently headquartered in Cyprus with offices in Australia and UK. eToro is most notable for its pioneering social trading tools that allow investors to mirror trades of other users. The brokerage firm emphasizes its focus on socializing among traders – traders can review each other’s profiles and replicate each other’s strategies. eToro is licensed and regulated by CySEC, FCA and AISC.

eToro’s vision is to “remove barriers and make online trading and investing more accessible to the everyday user” and the brokerage walking confidently towards that goal. The brand prides itself in some essential organizational core values such as simplicity, transparency and innovation. Currently, eToro has over 10 million users worldwide and supports over 140 countries.

FXPro Review

FxPro Review

FxPro was founded in 2006 and since then it rapidly grew to become a market leader of its industry. FxPro is best known for its security, stability and professional customer service. FxPro prides itself in being No Dealing Desk (NDD) broker, which a valuable feature for advanced traders. It minimizes risk, gives clients access to deep liquidity and assures clients that there will be no conflict of interest in their trade.

FxPro’s a firm position amongst other industry leaders has been definitely acknowledged: FxPro has received multiple prestigious awards such as ‘Best Fx Broker’, ‘Best FX Service’, ‘Best Trading Platform’, etc.

FxPro Group and its subsidiaries are fully licensed and regulated by various regulators such as the FCA, FSCA, SIA and CySec.


FXTM Review

The award-winning FXTM brand was created in 2009 by Andrey Dashin. His vision was to produce a broker suitable for traders of any level. It is obvious he has been successful. The broker is fully licensed and regulated by several regulators including CySEC and the FCA. Currently, FXTM has over 1 million clients.

Despite the fact that FXTM is a fairly new broker, it already holds a solid position in the industry.  This is definitely due to their experienced management team that understands the needs of their clientele, strongly abides to regulations and focuses of the security of their clients’ investments and funds.


HF Markets Review

HF Markets was founded in 2010 in St. Vincent and the Grenadines and was previously known as HotForex. The broker is headquartered in Cyprus and has offices in Kingston, St. Vincent and the Grenadines

HF Markets is regulated and licensed by multiple regulating bodies such as CySEC, FCA, DFSA, FSCA and FSA. As with all CySEC regulated brokers, HF Markets keeps its clients’ funds in a segregated bank account which means the broker is safe to deposit money with.


IQ Option Review

IQ Option was founded in 2013 and is headquartered in Cyprus. It licensed and regulated by CySec. Similarly, to most large brokers of its size, IQ Option keeps all its clients’ funds in a secure, segregated account. IQ Option offer their clients over 350 tradeable instruments such as binary options, CFDs, cryptocurrency, commodities and forex. The broker does not offer trading on indices. Spreads and other trading costs vary based on the product traded.

Initially, IQ Option operated exclusively in the binary option trading industry, however after noticing the need to diversify, the brokerage introduced forex trading, crypto currencies, and CFDs.  Currently, IQ Option has over 6 million users and offers a range of features suitable for both accomplished, professional traders as well as beginners.


IronFX Review

IronFX was established in 2010 and is based in Cyprus, however the broker has offices in Sydney, Johannesburg and London. IronFX is licensed and regulated by CySEC , FSCA, ASIC and FCA. The broker offers 200+ tradeable assets to its customers such as Forex, futures, indices, shares, etc. IronFX is available to both retail and professional customers in over 180 countries globally.  Currently,

The reputation of IronFX is definitely not the strongest in the industry due to the multiple fines the broker faced over the years. IronFX received faced financial penalties from CySEC for not complying with regulations related to clients’ fund withdrawal. Due to this, traders should consider the brokers history before trading with them.


Plus 500 Review

Plus500 was founded in 2008 and is head quartered in Israel. The broker currently has regional offices in Cyprus, UK, Australia and Singapore. Plus500 is CFD broker and offers more than 2000 trading instruments. Plus500 is listed on the LSE (London Stock Exchange) and is considered to be a safe broker to trade with.

During our review of Plus500 we noticed that the broker is more suitable for simple traders and those not looking for education and research tools.


XM Review

XM was founded in 2009 and since then it has become a well-known and established broker with over 2.5 million traders worldwide. The broker prides itself in the fact that it has executed over 2.4 billion trades with zero rejections or requotes.

XM offers a wide range of tradeable assets for both forex and commodity trading, advanced trading platforms and most importantly, no hidden fees. The broker is both licensed and regulated by ASIC and CySEC.