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A Comprehensive Review of Forex Brokers and Their Services

FXDailyInfo is a trusted resource for Forex Brokers Review, Forex Broker Ratings and List of Forex Brokers. We provide honest and accurate information so you can make the best choice for your trading career. Our site is frequently updated with the latest news and information about forex brokers, so be sure to visit us often. Are you looking for a new broker? Check out our list of the best forex brokers and find one that meets your needs. Don't forget to check out our ratings and reviews before opening an account.

FXDailyInfo is here to help you make the best Forex broker choice. Our Forex Brokers Review Ratings and List of Forex brokers are up-to-date and reflect the latest changes in the industry. We also offer a variety of resources to help you get started trading, including our New Forex Brokers section which features the latest arrivals to the market. Make sure to check out our site frequently for updates!

FXDailyInfo has compiled a list of the best forex brokers for your convenience. The website provides forex broker reviews, ratings and lists of top 10 Forex brokers, as well as new Forex brokers. You can visit the site to read detailed information about each broker or simply go through the ratings to find the one that suits you best.

What is a Forex broker?

Forex means foreign exchanges, and there are companies available that provide trading services to traders, peoples called them broker. Forex brokers are similar to financial organizations or companies, that's are offering traders various trading services including trading platforms. A trader can't get access to the trading platforms directly, that's why traders need brokers to buy or sell currencies in the live forex market.

The Role of a Broker

The maximum forex trading transactions are between the top 10 currency pairs. The following currencies are the most powerful in the world Euro (EUR), U.S. dollar (USD), Japanese yen (JPY), New Zealand dollar (NZD), the Australian dollar (AUD), British pound sterling (GBP), Canadian dollar (CAD), Swiss franc (CHF). Peoples are also called them G10. The maximum number of brokers allow customers to trade in other currencies, including those G10 currencies. A reputable broker is very important for a long-term trading career. Because a broker can boost your trading by giving you high leverage and margin trading opportunities.

Types of Brokers

Basically, there are two types of brokers available in the trading world, these are 1), Dealing desk brokers, and the other one is No Dealing desk brokers. But investor analysis divided the No dealing desk brokers into 2 parts, STP and ECN+STP.

1)  Dealing desk brokers: Peoples have also known as Market Makers. These types of brokers are providing liquidity to traders and making money through spreads. DD brokers create a market for customers that means they often take the other side of their customer's trades.

2) No Dealing desk brokers: If you look at the name NDD, that means they do not pass customers’ orders through a dealing desk These types of brokers are working as a bridge, they build a structure between a trader and trading platform. NDD's brokers charge a few amounts of commission for trading or they can increase the spread slightly. As we said NDD’s are divided into two parts called STP and ECN+STP. Let’s take a simple idea about STP and ECN+STP brokers.

In order of STP's all of the orders are routed to the broker's liquidity providers and all prices are executing at the bid/ask rate which is provided by liquidity providers. In that case, big banks, hedge funds, and investors are working effectively as counterparties in each of the trades.

We found a few similarities between an STP and an ECN Forex broker, however, the primary difference between is routing. As referenced over, the STP can decide to manage different liquidity suppliers out of their liquidity pool, while the ECN goes about as a sort of center. The center acts as the liquidity source, as it is addressed by banks, mutual funds, and all the significant market players.

Features of a good broker

Before choosing a broker, a trader should know how they can identify the broker as good/bad in the market. Before joining with a broker please take a look at the following features of a broker.


Forex broker's regulations are one of the most important things while we are choosing a broker because if a broker isn't under regulatory supervision, they can easily fraud with customers and there is no way to make cases against them. Regulated brokers must follow all of the business standards to continue business in the market, that's why they can't fraud easily with their clients.


Leverage means to borrow funds from brokers. A trader can open a bigger position of trade than his/her total capital by using leverage. Although it's risky for traders, it is very effective in trading to make better profits.

Trading Platforms

Obviously, it's one of the most important things before you start your trading journey. A liquid trading terminal is the backbone of your trading career. Many brokers are building their own trading software but these are not trustable, you should choose, MT4/MT5, or other popular platforms. Before joining with a broker take a look at their supported software.

Deposit and withdrawal methods

The deposit and withdrawal method are important because you have to deposit and withdraw your monies from the broker house. You should choose the broker where you can deposit your funds and withdraw the funds easily.

Customer supports

Customer supports is required everywhere in our life. There are simple and complex technical problems everywhere, so you should try to check the customer support department of your broker before joining with them.

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Broker Min. Deposit Max: Leverage Broker Type Min: Spreads Foundation Year Country Others
Ariol Investment $100 1:400* STP/ECN 0.0 Pips 2020 Switzerland
UK Financial Conduct Authority (FCA) has approved it
FXNovus $250 1:400* STP/ECN 0.0 Pips 2011 South Africa
The Cyprus Securities and Exchange Commission under CIF license number 440/23
Ultima Markets $50 1:2000* STP/ECN/NDD 0.0 Pips 2026 Mauritius
FSC (British Virgin Islands), CySEC (Cyprus)
PrimeXBT $100 1:1000* STP/ECN 0.0 Pips 2018 Seychelles
Prime Technology Ltd, a company registered in the Republic of Seychelles, with Registration No. 217308
Spider Forex $10 Up to 1:500* STP/ECN 0.1 Pips 2005 Georgia
Mwali Interbational Services Authority T2023383
JM Financial $100 Up to 1:400* STP/ECN/NDD 0.0 Pips 2023 Kuwait
Licensed and authorized by the Ministry of Commerce in the State of Kuwait (reg. No. 355893),
Phyntex Markets $15 1:5000* STP/ECN 0.0 Pips 2023 Malaysia
Phyntex Group Limited is licensed in Mwali as an International Business Company (HY00823421)
EBC $50 Up to 1:500* STP/ECN 0.0 Pips 2023 United Kingdom
FCA (UK), ASIC (Australia), CIMA (Cayman Islands)
QuoMarkets $100 1:2000* STP/ECN 0.0 Pips 2023 St. Vincent and the Grenadines
Registered by the Financial Service Authority (FSA)
Doo Prime $ Up to 1:1000* STP/ECN/NDD 0.0 Pips 2018 Cayman Islands
ASIC, FCA UK, SEC, VFSC, TCSP Hong Kong, FSC Mauritius, FSA Seychelles
TradeQuo $10 2000:1* STP/ECN/NDD 0.2 2020 Seychelles
Seychelles Financial Services Authority (FSA)
Trive Invest $100 Up to 1:400* STP/ECN 0.0 Pips 2023 Indonesia
Australian Securities and Investment Commission and holding AFS license number 424122 ACN 159166739.
DB Investing $100 Up to 1:3000* STP/ECN 0.0 Pips 2023 UAE
Regulated company by FSA in Seychelles with license SD053.
Nation FX $100 Up to 1:500* STP/ECN 0.0 Pips 2023 Cyprus
Regulated by the Australian Securities & Investments Commission (ASIC), (AFSL no 001304800),
One Trading Markets $100 Up to 1:500* STP/ECN 0.0 Pips 2023 St. Vincent and the Grenadines
MWALI International Services Authority under Brokerage and Clearing House License Number T2023225,
ModMount $250 Up to 1:400* STP/ECN 0.0 Pips 2022 Seychelles
Regulated by the Financial Services Authority (FSA) of Seychelles with licence number: SD119
CRIB MARKETS $1 Up to 1:500* STP/ECN 0.0 Pips 2023 St. Vincent and the Grenadines
CRIB MARKETS LIMITED registered in the St. Vincent & Grenadines (Registration number 26581 BC 2021).
Giv Trade $100 Up to 1:1000* STP/ECN 0.0 Pips 2023 United Arab Emirates
GivTrade Saint Vincent and The Grenadines (SVG) under License Number 25387 BC 2019
BlackBull $$0 Up to 1:500* STP/ECN 0.0 Pips 2021 New Zealand
Regulated by the Financial Services Authority in Seychelles (FSA)
ETOMarkets $100 Up to 1:500* STP/ECN/NDD 0.0 Pips 2023 Seychelles
The Financial Services Authority (FSA), Licence Number SD062

An In-Depth Look at the Top Forex Brokers Reviews (FAQ)

What is the Forex brokers review?
Find out the best and worst forex brokers in our reviews. Compare their spreads, trading platform, bonuses and more. We also have a list of top regulated brokers that are safe to use.
What are the most important features of a Forex broker?
When it comes to forex brokers, there are many factors that you should consider. At the top of the list is a broker's reputation for honesty and integrity. A good broker will not engage in any deceptive practices or unfair business practices. Find out more about reputable brokers at https://en.fxdailyinfo.com/forex-brokers-review
What are the best trading platforms for Forex brokers?
Looking for the best Forex broker? Check out our comprehensive Forex brokers review and compare the most trusted online platforms.
How can I make money with Forex brokers?
Want to make money with forex brokers? Check out our comprehensive review of the best forex brokers in the market today. From commissions and spreads, to leverage and customer service, we've got you covered!
Which broker is good for forex?
The forex brokers list features a comparison chart with information about top rated forex trading firms. Compare, read reviews, and find the right broker for you!
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