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Best forex brokers

Luke jacobi

Contributor, benzinga

Want to jump straight to the answer? The best forex broker for most people is definitely FOREX.Com

Forex trading is arguably one of the easiest financial markets to begin trading in. To get started, you just need to open and fund an account with a regulated online broker. Choosing the best forex broker to trade forex does require some initial research to find the one most suitable for your trading needs and experience level.

Best forex brokers right now:

Best overall forex broker: FOREX.Com

Best for ultra-low spreads: cedarfx

Best for beginner traders: etoro

Best for non-US traders: HYCM

Best for commodities: avatrade

Best for intermediate traders: pepperstone

Best for advanced forex traders: interactive brokers

Best for mobile traders: plus500

Best forex platform: IG markets

Table of contents [ hide ]

The best forex brokers

Benzinga’s picks for the best forex brokers in 6 key categories appear below along with details about each broker and a screenshot of their trading platforms.

Account minimum

Pairs offered

Minimum trade size

Spread

Commisions

1. Best overall forex broker: FOREX.Com

FOREX.Com is a subsidiary of GAIN capital holdings (NYSE: GCAP) and ranks as the best overall forex broker.

You will only need $50 to open up an account to start trading up to 80 currency pairs on FOREX.Com’s advanced trading platforms, which include metatrader for non-U.S. Residents.

This broker accepts U.S. Clients and is regulated in the U.S. By the commodities futures trading commission (CFTC) and the national futures association (NFA). FOREX.Com also has oversight from regulators in 6 major world jurisdictions through its subsidiaries.

You can check out benzinga’s FOREX.Com review for more information about this excellent broker.

Account minimum

Pairs offered

Commisions

2. Best for ultra-low spreads: cedarfx

Cedarfx believes in combining the finest market conditions with excellent pricing and technology so clients can grow their accounts. A low spread generally indicates that volatility is low and liquidity is high and cedarfx prides itself

Cedarfx offers 2 account types: 0% commission accounts and eco accounts.

You get access to direct access to global financial markets, with over 170+ tradable assets available through metatrader4. Trade forex, crypto pairs, stocks, indices and commodities through a single platform!

You can practice your strategy and get familiar with the MT4 platform before trading using deposited funds through the free demo account.

Account minimum

Pairs offered

Minimum trade size

Spread

Commisions

3. Best for beginner traders: etoro

Etoro specializes in social trading, which is ideal for beginners since you can follow the trades of expert traders with a proven track record. In addition to its world-class social trading network, etoro has excellent educational resources for forex beginners. Etoro’s intuitive multi-asset trading and social trading platforms and apps can be used by anyone immediately. Unfortunately, etoro does not support the metatrader 4 and 5 (MT4 and MT5) trading platforms.

The broker lets you trade over 2,000 different assets and has a minimum deposit of $50. Etoro currently accepts clients from most U.S. States where it is registered with the U.S. Financial crimes enforcement network (fincen) as a money services business, instead of with the NFA and CFTC as an online broker. The company is also regulated in australia, the U.K. And cyprus in the EU.

Account minimum

Pairs offered

Minimum trade size

Spread

Commisions

4. Best for non-US traders: HYCM

Highly regulated HYCM offers stocks, forex, indices, cryptocurrencies, commodities and etfs. The company also offers excellent trading conditions and great liquidity.

HYCM uses metatrader 4 to trade the markets and adds in technical analysis, flexible trading systems and expert advisors (eas).

You’ll also encounter low spreads and low-cost trading, which includes 3 spread levels: fixed spreads, variable spreads and raw spreads:

You can access up to 500:1 leverage through HYCM, depending on where you live and which currency pair you’re trading.

Account minimums with HYCM may vary depending on your base currency and the type of account you open. You should have at least $100 to $200 ready to go before you open an account.

You can customize your account levels with varying fee structures to fit your risk tolerance and trade frequency.

HYCM even offers swap-free accounts that do not accrue interest for each of its fee types to allow islamic investors to trade freely without worrying about being in conflict with religious laws.

You’ll also find a range of education and research tools for endless education opportunities through HYCM.

Account minimum

Pairs offered

Minimum trade size

Spread

Commisions

5. Best for commodities: avatrade

Avatrade, one of the most secure brokers in the industry, carries 7 regulations across 6 continents (europe, australia, japan, british virgin islands, UAE and south africa). You’ll be pleasantly surprised by its asset availability, leading platforms and generous trading conditions (you can leverage your positions up to 400:1).

Avatrade offers an exceptionally user-oriented perspective, including a 24-hour multilingual support desk for a broad range of instruments, platforms and services for every level of trader. Instruments include:

Forex

Stocks

Commodities

Cryptocurrencies

Indices

You’ll find a range of automated trading platforms, including desktop, tablet, mobile and web-based trading with metatrader 4, metatrader 5, its proprietary webtrader, avaoptions and the award-winning avatradego. Client funds are held in segregated accounts for increased security and fast profits withdrawal.

Avatrade’s innovative technology and cutting-edge trading features also include 1-on-1 training sessions with a dedicated account manager.

Commissions

Account minimum

6. Best for intermediate traders: pepperstone

U.K.-based pepperstone gets our vote for best broker for intermediate traders. It has regulatory oversight in the U.K. And australia, although it does not currently accept U.S. Clients. The broker lets you trade in 61 major, minor and exotic currency pairs and requires a minimum deposit of $200. Pepperstone provides support for the metatrader 4 and 5 and ctrader platforms.

In addition to forex, pepperstone offers trading in cryptocurrencies, energy, metals, commodities and stock index contracts for difference (cfds). Customer balances are maintained in segregated accounts for safety in the australian national bank and barclays U.K.

Pricing

Account minimum

7. Best for advanced forex traders: interactive brokers

Interactive brokers offers some of the lowest costs in the business, including a $0 commission on U.S.-listed stocks and exchange-traded funds (etfs). Because of interactive’s world-class brokerage services in 33 countries that cover 134 markets worldwide, the company has oversight from most of the world’s largest financial regulators, including the U.S. SEC, CFTC and NFA. Interactive also submits to regulatory oversight in the U.K., australia and canada, and it has agencies in japan, hong kong, india and luxembourg.

Interactive brokers offers trading in 23 different currencies and their pairs, and the broker requires a $10,000 minimum margin deposit that is applied to commissions for the first 8 months, followed by a $2,000 minimum starting on the 9th month.

Minimum commissions apply, as well as maintenance fees and charges for inactivity, so interactive brokers would be best for advanced, active and well-funded professional traders. Interactive’s proprietary trading platforms, including its client portal, desktop trader workstation (TWS) and mobile application have been rated as some of the best in the business.

8. Best for mobile traders: plus500

U.K.- based plus500 has oversight from the FCA and is a leading provider of CFD trading on over 1,000 tradable assets including forex currency pairs, stock shares, cryptocurrencies, etfs, options and indices. The company keeps your money in segregated accounts but does not offer services to U.S.-based clients.

Plus500 offers trading in 70 currency pairs featuring competitive spreads on its forex cfds and leverage of up to 300:1. The intuitive interface featured on both the plus500 desktop and mobile trading platforms can be accessed immediately by novices and professionals, which makes plus500 our pick for mobile traders.

Commissions

Account minimum

9. Best forex platform: IG markets

IG markets gives clients access to trade cfds in more than 17,000 different markets including forex, shares, indices, commodities, bonds, etfs, options and short-term interest rate cfds. You can trade up to 80 different currency pairs through IG and the broker requires a $250 minimum deposit.

IG accepts U.S.-based clients due to oversight from the CFTC and NFA. IG holds your money in segregated accounts under trustee arrangements for added security. In addition to its proprietary trading platform, IG offers support for 3rd-party forex platforms such as metatrader 4 and prorealtime. It also allows application programming interface (API) trading.

Forex market explained

In the forex market, traders agree to exchange 1 currency for another to make a transaction in that currency pair at a particular level known as the exchange rate. Like stock prices, this exchange rate fluctuates based on supply and demand factors, as well as on the forex market’s overall expectations of future events.

Forex traders can make money on a currency transaction in 2 ways. First, if they buy or go long a currency and it goes up in value versus the sold currency, then they earn a profit. Second, if they sell or go short a currency and it goes down versus the bought currency, then they also profit.

Many currency pairs quoted in the forex market show substantial volatility or fluctuations, which can result in gains or losses for traders. The daily candlestick chart below shows changes in the exchange rate of the EUR/USD currency pair, which is the european union’s euro quoted in terms of the U.S. Dollar from november 2018 until april 2020.

Risk and reward in forex trading

Rewards are generated in forex trading when you take a long or short position in a currency pair that subsequently appreciates in value. The risk in doing a forex transaction is when the market doesn’t perform as expected once you have done a forex trade.

Many brokers allow traders to magnify the gains or losses they take on a position via the use of leverage. Leverage is typically expressed as the ratio of the size of a position you can control by placing one unit of base currency on deposit as margin. Hence, a 500:1 leverage ratio would mean that you can control a $500 position with a $1 margin deposit.

Furthermore, most successful traders have a minimum risk/reward ratio for a trade before they will consider taking it, such as 1:2 or 1:3. For example, if you think the chances of a trade making 20 pips is around the same as the chances of it losing 10 pips, then your risk/reward ratio of that trade is 1:2. If that meets your risk/reward ratio criteria, then you might consider that trade worthy of executing.

Choose your broker wisely

Since your forex broker will be your primary trading partner, you want to choose one carefully to make sure they are reputable and will fit your requirements as a trader. Open a demo account with an online broker you’re thinking of using to see whether it is a good fit. Demo account trading can also help prevent potentially costly errors that might arise from you being unfamiliar with the broker’s trading platform.

Methodology

These top brokers were chosen for this review for various reasons depending on the specific category in which we felt they excelled. Baseline requirements included the strength of their regulatory environment, their generally good overall reputation with clients earned over an extended period and a substantial number of currency pairs available for trading.

Forex trading brokers

Capital GMA is a financial services provider, offering a selection of more than 70 financial assets. Capital GMA review

Europe forex invest assists retail and institutional investors in using forex and different contrap. Europe forex invest review

Forex birds claims to be a well-regulated, safe and best forex broker with optimal trading conditio. Forex birds review

Blackstone500 claims to be an international trading online corporation, offering 24-hour access to . Blackstone500 review

CAPOINVEST claims to be one of europe’s leading financial institutions specializing in forex/cfds. Capoinvest review

Forex news & trader inquiries

Forex news

It’s been a roller coaster ride of a year for the financial markets, with crashes, losses, and unprecedented volatility. West texas I. Read more

The innovative FP markets mobile app puts a wealth of information at the fingertips of traders on-the-go. In the fast-paced world of onli. Read more

Internet adoption has more than doubled globally since 2010, however, the majority of countries with lower rates of internet access are i. Read more

It looks like the recent rally in the US yields might be over, which could imply further weakness for the USD and more gains for US stock. Read more

Since last thursday, the USD has been rallying, and the EURUSD pair dropped from 1.2350 to 1.2150 on monday. It looks like a stronger cor. Read more

New trader inquiries

Company nekstra seduced a lot of money from me, sending false documents on a regular basis that a significant amount of EUR needs to be. Comment on retired person

In fxcoinmark company site not anywhere write that you need to upgrade for withdrawal but when I send request for withdrawal the account manager said. Comment on my account balance screen shot

Ich bitte um auskunft zu o.G. Firma comment on anlagebetrug

Hi would you be able to find out about this broker? I have lost a huge amount of money trading with this broker. I want. Comment on I want to know about this broker

I invested US $200.00 ON 7/1/2021 and they supposedly made $5,000. At the end of the trading day but the request that I pay 10%. Comment on IS THIS A SCAM?

Broker types

Trading instruments

Broker by country

Account types

Trading conditions

Brokers by platforms

Brokers by licenses

DISCLAIMER

Forex trading carries a high level of risk and may not be suitable for all investors. Cfds are complex instruments, due to leverage retail accounts lose money. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it.

All information on 55brokers.Com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information.

Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in the use of our website.

Brokers

Regulated forex brokers

When viewing the forex broker or a trading platform, it is the paramount priority to choose from the hundreds the most reliable one and the best forex provider, as it will determine the whole trading experience. Indeed, doing research and compare the vast number of forex brokers with many aspects to consider, maybe not an easy choice, as well time-consuming. So here we are ready to assist your selection and answer the most common questions.

Can I trade forex without a broker?

This may be the first question you would ask, as indeed forex market, FX or currency market is the largest global non-centralized exchange where trading process performed electronically via networks. While main forex participants are international banks and financial institutions operating huge volumes through a need to exchange currencies, presented as currency pairs, and assist international business with the conversion which is known as the interbank market.

Therefore, in order to trade fx you should be authorized dealer to do so, as well as operate a quite sufficient amount so before forex brokers were introduced to retail traders and global community it was not possible for trade markets. For this reason, forex trading brokers are the companies or agent if you like that gives retail forex traders access through its platform to operate forex market and trade various markets including commodity futures, indices, bonds, etc.

Do I need license to trade forex?

So this is another pleasant and great opportunity which is given by forex brokers, as you may access trading without financial or dealer license. Moreover, there are hundreds of opportunities with a relatively small investment which allows you to trade forex, do technical analysis and analyze markets almost instantly.

Are forex brokers regulated?

And now we will check the most crucial question if forex broker can be regulated, since the market is decentralized, and is it safe to trade forex? Obviously, this is the biggest trump you may fall as a retail trader if you choose a non-reliable, mainly non-regulated or offshore firm without a proper license you may easily fall into a scam and lose money.

So due to increasing demand and mainly that traders got no easy access to trading or financial education, the world countries established particular organizations or authorities in order to oversee the market proposals and regulate forex broker firms. So yes, forex brokers are regulated while holding a license from a local authority alike world known FCA in the UK, ASIC in australia, commodity futures trading commission CFTC in the USA, MAS in singapore and more.

What does a regulated broker mean?

The whole concept of regulation is to oversee forex business in a particular country or region, protect clients and ensure safe conditions while trading forex. So in simple words, regulated broker means a safe and legit broker that is compliant to various rules and criteria set by the international authority with the purpose to provide secure trading and good customer service. So its trading environment and provided services like technical analysis, education and tools are also aligned to the best practices.

In addition to its constant check on the service providing, authorities protecting clients throughout compensation schemes and other security checks, however, these conditions may vary from the regulator to another.

How do I know if my forex broker is regulated?

In order to check if broker is regulated or not, you should verify this information through the official brokers’ website first, as regulated companies always provide its licenses. And the next step is to verify a license through the official regulatory website. However, in our forex broker review you will find all the necessary information and license check as well.

It is a fact, unscrupulous brokers may easily fake information and assure you of its license while its not true, so always verify information through the official source. As well, adhere to trade with brokers regulated in serious jurisdictions, not the offshore once, as they luck of strong regulation, requirements and necessary safety measures. Read more by the link why avoid brokers from st vincent & the grenadines.

How to choose best forex broker?

Security of funds is always first in forex trading, for that reason, we recall your attention to open an account with regulated brokers only. Making it simple, regulated broker means that you will trade forex with proper security of funds and investment itself, so first of all good broker is a sharply regulated broker.

Further on, you should also check the necessary conditions and select offer suitable for you and trading strategy you deploy.

For this reason, we assist your selection and provide an assortment of efficient regulated brokers with updated on a weekly basis in-depth forex broker list. A professional detailed analysis with trading fees account overview, platform breakdowns while sorted by regulation, country or trading conditions, along with traders comments so smarter decision is easier now.

10 best forex brokers canada for 2021

The forexbrokers.Com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Trading forex (currencies) in international markets is popular among residents in canada. Before any fx broker in canada can accept forex and CFD traders as clients, they must become authorised by the investment industry regulatory organization of canada (IIROC), which is the financial regulatory body in canada. IIROC's website is iiroc.Ca. We recommend canadian residents follow IIROC on twitter, @iirocinfo and @fintrac_canada.

Best canadian forex brokers for 2021

To find the best forex brokers in canada, we created a list of all IIROC authorised firms, then ranked brokers by their trust score. Here is our list of the top canadian forex brokers.

CMC markets - best web platform, most currency pairs

Interactive brokers - great for professionals and institutions

FOREX.Com - great all-round offering

Avatrade - multiple trading platform options

Best forex brokers canada comparison

Compare canada authorised forex and cfds brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's forexbrokers.Com trust score.

Forex broker	accepts CA residents	regulated by IIROC	average spread EUR/USD - standard	minimum initial deposit	trust score	overall	visit site
saxo bank	yes	0.800	$10,000.00	99	5 stars	visit site
CMC markets	yes	yes	0.740	$0.00	99	5 stars	N/A
interactive brokers	yes	yes	N/A	$0	94	4.5 stars	visit site
city index	yes	1.100	£50.00	93	4.5 stars	visit site
FOREX.Com	yes	yes	1.400	$100.00	93	4.5 stars	visit site
avatrade	yes	yes	0.910	$100.00	93	4 stars	visit site
FP markets	yes	1.140	$100 AUD	81	4 stars	visit site
tickmill	yes	0.530	$100.00	81	4 stars	visit site
HYCM	yes	2.00	$100	84	3.5 stars	visit site
VT markets	yes	1.30	$200	79	3.5 stars	N/A
blackbull markets	yes	0.76	$200	70	3.5 stars	N/A
octafx	yes	1.100	$5	59	3.5 stars	N/A

How to verify IIROC regulation

To identify if a forex broker is regulated as dealer member by IIROC, the first step is to identify the registered name from the disclosure text at the bottom of the broker's homepage. For example, here's the key disclosure text from OANDA's website:

OANDA (canada) corporation ULC is regulated by the investment industry regulatory organization of canada (IIROC), which includes IIROC's online advisor check database (IIROC advisorreport), and customer accounts are protected by the canadian investor protection fund within specified limits.

Next, look up the firm name on the dealer member section or advisorreport module of the IIROC website. Here is the official page for OANDA and results are also available on the CSA's website website which shows each province that the broker can operate in canada.

About the IIROC

IIROC is a national self-regulatory organization (SRO) that was established as a non-profit corporation on june 1st, 2008 as part of the consolidation of the investment dealers association of canada (IDA) and the maket regulation services inc. (RS). IIROC is recognized by the canadian securities administrators (CSA) which includes all canadian provinces including the following regulatorty bodies in canada:

British columbia securities commission

Alberta securities commission

Saskatchewan financial services commission

Manitoba securities commission

Ontario securities commission

Autorité des marchés financiers

New brunswick securities commission

Nova scotia securities commission

Prince edward island

Newfoundland securities commission

For a historical breakdown, here's a link to IIROC's webpage on wikipedia.

More forex guides

Methodology

For our 2021 forex broker review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex risk disclaimer

"there is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." learn more.

About the author: steven hatzakis steven hatzakis is the global director of research for forexbrokers.Com. Steven previously served as an editor for finance magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading cfds, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how cfds, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The forexbrokers.Com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this website (www.Forexbrokers.Com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with forexbrokers.Com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses forexbrokers.Com or any of its reviews, products, or services. Forexbrokers.Com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

OANDA - cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

RETAIL TRADERS' FIRST CHOICE

Why trade with us

You can rest easy when you trade with IFX brokers. Client funds are kept separate in a segregated account and monitored daily by our 3rd party auditor. Top that with our fidelity and indemnity insurance, zero balance protection and fund protection from your trading activities with our risk management tool - the IFX wallet.

IFX brokersв„ў is a trading name of IFX brokersв„ў holdings (pty) ltd (registration no. 2017/027249/07). Our distribution and market conduct is regulated by the financial sector conduct authority (authorized financial services provider number 48021).

Interactive trading academy

Whether you are a beginner or an experienced trader, IFX academy will provide the tools to accelerate your growth as a successful trader. You will be taught to shrewdly manage risk and optimise your rewards. Itвђ™s simple: our online forex training courses and continued support give you the edge.

Myifxbrokers - your secure online traders room

Jam-packed with all the features you expect from a leading broker, myifxbrokers, is similar to a high-powered exotic car. You are placed firmly in the driverвђ™s seat, controlling all your trades from a user-friendly dashboard. And you have the advantage of foresight, speed and power from our sophisticated forex trading strategies, market scanner and professional trading tools.

Competitive trading conditions

IFX brokers incorporates trade execution, with pricing from multiple banks and liquidity providers and 100% automated execution which completely eliminate broker intervention. Cybersonic trade execution is from as low as 2.5 milliseconds and settled immediately.

Instant deposits and withdrawals

IFX brokersв„ў enables clients to open accounts and deposit funds in the following base currencies: south african rand (ZAR), united states dollar (USD), british pound sterling (GBP), euro (EUR). With a variety of payment options clients can start trading almost instantly.

Experience trading the way it should be

In a true ECN environment IFX clients benefit from the best possible prices available from tier-1 banks and dark pool liquidity providers.

ECN stands for electronic communications network. The ECN provides an electronic system for buyers and sellers to come together for the purpose of executing trades. It does this by providing access to information regarding orders being entered, and by facilitating the execution of these orders.

Designed to match buy and sell orders currently present in the exchange, it provides prices reflecting the highest bid and lowest ask listed on the open market.

Our liquidity providers

Our accounts

Tight spreads.
No commission

Raw spreads.
Low commission

Fast and easy deposit options with ZERO fees

Flexible payment options to get you trading faster.

IFX make funding your account a simple process and cover the transaction fees on all deposits.

Simply select your preferred
payment option to proceed.

The ultimate IFX forex workshop
presented by real traders

Start your step-by-step journey
to consistent forex profits

Secure sophisticated partnership portal with a very ergonomic and clear user interface, from which partners can easily expand and manage multiple networks.

Placing you firmly
in the driverвђ™s seat

Creating a
community of
profitable traders

Complimentary professional forex
training powered by IFX academy

The trader in you
loves challenges

Trade
R,1000,000
and keep 50% of the profit

Start trading in 3 easy steps

Fund your account

Select your preferred deposit method and deposit money into your IFX account

Start trading

Trade multi assets and multi currencies from one account

Start trading in 3 easy steps

2.Fund your account

Select your preferred deposit method and deposit money into your IFX account

Start trading in 3 easy steps

3.Start trading

Trade multi assets and multi currencies from one account

Risk warning: contracts for difference (cfds) are intricate financial products traded on margin with elevated risk levels. Please be aware that you could lose all of or more than your invested capital. It is important to consider the risks associated with cfds, your objectives and your trading experience, and to determine whether trading in these products is appropriate for your financial situation. Please download our risk disclosure notice and pursue independent advice if required. IFX does not offer financial advice. Download risk disclosure notice

License: IFX brokersв„ў is a trading name of IFX brokersв„ў holdings (pty) ltd (registration no. 2017/027249/07). Our distribution and market conduct is regulated by the financial sector conduct authority (authorized financial services provider number 48021). The issuance of cfdвђ™s is regulated by the financial markets act, 2012.

COUNTRY OF DOMICILE: the use of this website is governed by south african law

Compare brokers in ghana

For our ghana comparison, we found 23 brokers that are suitable and accept traders from ukraine.

We found 23 broker accounts (out of 147) that are suitable for ghana.

Forex.Com

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About forex.Com

Platforms

Funding methods

79% of retail investor accounts lose money when trading cfds with this provider

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About IG

Platforms

Funding methods

76% of retail investor accounts lose money when trading spread bets and cfds with this provider

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About XTB

Platforms

Funding methods

82% of retail investor accounts lose money when trading cfds with this provider.

Avatrade

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About avatrade

Platforms

Funding methods

79% of retail investor accounts lose money when trading cfds with this provider.

Plus500

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About plus500

Platforms

Funding methods

76.4% of retail CFD accounts lose money

Axitrader

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About axitrader

Platforms

Funding methods

68.5% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Etoro

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About etoro

Platforms

Funding methods

71% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

XM group

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About XM group

Platforms

Funding methods

78.04% of retail investors lose money when trading spread bets and cfds with this provider.

City index

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About city index

Platforms

Funding methods

73% of retail investor accounts lose money when trading cfds with this provider

Easymarkets

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About easymarkets

Platforms

Funding methods

83% of retail investor accounts lose money when trading cfds with this provider.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The ultimate guide to

The ghanaian financial market

After almost two decades of planning and hard work, the ghana stock exchange (GSE) finally opened it doors as a a uthorized stock exchange in october 1990. Based in accra and a member of the african securities exchanges association (ASEA) , as of january 2019 the exchange has an approximate market capitalisation of 62,918 million ghanaian cedi (9.9 billion GBP).

While the exchange remains fairly small overall with respect to assets traded and participants, the ghana stock exchange acts as the primary secondary market for the stock of ghanaian companies and has shown undulating real returns since the early 1990’s. The ghana stock exchange composite or GSE-CI is as the primary stock market index in ghana and tracks the performance of all companies traded on the GSE.

In general, ghanaian financial markets and the ghanaian cedi benefit from ghana’s economic strength, although they can come under pressure when geopolitical events create an uncertain investment or trade environment. Furthermore, ghana remains a net importer when it comes to goods and services, with imports making up 25 percent of GDP as of 2005.

Other factors that influence the ghanaian cedi and ghanaian financial markets include the price of key strategic commodities like oil, of which ghana is a net importer, as well as that of ghana’s major exports like gold, timber, cocoa, tuna, bauxite, aluminium, diamonds, manganese ore and horticultural produce.

The financial markets in the republic of ghana include relatively small bond, equity, forex and derivative markets. Money markets can therefore tend to dominate as a result of their relative stability compared to the high volatility seen in the country’s capital markets.

Trading in ghana

The bank of ghana acts as the primary financial regulator in ghana responsible for overseeing forex and contract for difference (CFD) trading activities and financial institutions. When it comes to regulation, the central bank has the mandate to make sure that depositors’ funds are safe, banks’ solvency, assets, liquidity and profitability are maintained, enforce adherence to statutory and regulatory requirements, promote fair competition among banks, and maintain an efficient payment system.

With respect to stocks, traders will want to open an account with a licensed dealer or stockbroker that operates on the ghana stock exchange. While no minimum deposit is usually required, an account needs to be funded to execute a transaction. Furthermore, fees and commissions will cost around 2.5 percent of the transaction value. A central securities depository account also needs to be set up for a trader to keep a record of their ghanaian stock holdings.

Those looking to trade speculatively on the ghanaian financial market have a number options available through online brokers that let clients operate using their trading platforms. In general, traders will want to choose well-regulated brokers that have a good reputation with customers and that seem trustworthy enough to place a margin deposit with.

Forex trading: exchanging one currency for another forms the basis of forex trading. Exchange rates fluctuate as one currency rises or falls relative to another in particular currency pair. The popularity of forex trading has expanded greatly once online trading became possible. The forex market is the most liquid and largest financial market globally and had a daily turnover of $5.1 trillion/day in april 2016 , according to data compiled by the bank for international settlements (BIS).

CFD trading: making transactions in derivative financial instruments known as contracts for difference (cfds) allows traders to speculate on the future of their underlying assets. Such assets can consist of a currency pair, commodity, stock, stock index or other financial instruments.

Demo accounts: funded with virtual money, these accounts can be used to practice trading, test a strategy or check out a broker’s services and platform. Find out more on opening demo accounts here .

Islamic accounts: these are suitable for traders who wish to trade in an account that conforms to sharia law. Find out more on trading with an islamic account .

Opportunities of trading in ghana

In ghana, the banking act of 2007 helped lay a solid foundation for favourable change in the country’s financial services industry. Also, the ghanaian oil and gas sector has been growing strongly and telecom companies have expanded infrastructure construction projects to improve phone communication quality and service across the country. An expansion of road construction projects throughout the country was also notably funded in the ghanaian government budget for 2019.

Challenges of trading in ghana

Ghana was only ranked 114th for the ease of doing business by the world bank . Furthermore, the country came in 108 th for starting a business, 73 rd for getting credit and 99 th for protecting minority investors, so this indicates a rather challenging environment for traders.

Interest and exchange rate fluctuations and high inflation rates have made it challenging for traders to predict the direction of financial markets in ghana, thereby also making it difficult to participate or borrow money in this unstable environment. In addition, a lack of stringent regulation means higher investment and inflation risks. While off its peak slightly, ghana’s government debt also remains very high at 70.5 percent of GDP in 2017.

Summary

While ghana does not rank high among safe places to do business, some opportunities still exist. Traders also have some comfort in knowing that ghana’s financial institutions and stockbrokers are regulated by its central bank, although high market volatility, inflation and interest rates remain concerns for traders and businesses alike.

When a trader needs an online broker to trade through, they should make sure a firm has a decent range of asset classes to trade, a fast and easy to use trading platform, is overseen by a reputable financial regulator, and will be secure enough for them to give a margin deposit to.

Why choose forex.Com
for ghana?

Forex.Com scored best in our review of the top brokers for ghana, which takes into account 120+ factors across eight categories. Here are some areas where forex.Com scored highly in:

19+ years in business

Offers 300+ instruments

A range of platform inc. MT4, web trader, ninjatrader, tablet & mobile apps

Forex.Com offers one way to tradeforex. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

Forex brokers for scalping

If you prefer using scalping as your primary trading strategy, you will need to find a broker that does not mind when hundreds of positions are closed with near-zero profit or loss. Best scalping forex brokers offer an opportunity to hold positions for mere seconds and use tight stop-loss orders on them. Some of the listed brokers, while allowing scalping in general, impose some restrictions on scalpers in form of additional commission, spreads or trade number limits. You will find 182 brokers listed in the table below.

Metatrader 4

Metatrader 5

Mobile trading platform

Web trading

Metatrader 4

Metatrader 5

Ctrader

Webtrader

R trader

Metatrader 4

Metatrader 5

Web trading

Webtrader

Metatrader 4 web (VPS)

There are following reasons to select one of the brokers that allow scalping:

You plan to trade very frequently, not necessarily to scalp for few seconds' profit. Perhaps, you just need to open many positions across multiple currency pairs.

You want to be able to open and close positions fast and with minimum slippage.

Some of these forex brokers offer trading from tick charts, which can be useful for any strategy.

The expert advisor you are using may try opening several positions during a short period of time. It will have a higher chance for success with a scalping-friendly broker.

Forex trading bears intrinsic risks of loss. You must understand that forex trading, while potentially profitable, can make you lose your money. Never trade with the money that you cannot afford to lose! Trading with leverage can wipe your account even faster.

Cfds are leveraged products and as such loses may be more than the initial invested capital. Trading in cfds carry a high level of risk thus may not be appropriate for all investors.

Discover a world of trading opportunities

FOREX

Trade 45+ currency pairs with ultra-low spreads

INDICES

Trade leading global indices like the S&P 500 & NASDAQ

COMMODITIES

Trade commodity cfds like coffee & soybeans

Trade share cfds of the largest global corporations

ENERGIES

Trade energy cfds like crude oil & natural gas

TREASURIES

Diversify your portfolio with bond cfds

Take charge of your trading with a trusted broker

History

Established in 1988, we are one of the region’s longest serving brokers.

Security

Fully regulated and licensed broker

Reliability

Transparency, ethical practices and human support are core to what we do.

Insurance

Brand new insurance for up to €5,000,000

Loyalty

Dedicated loyalty programme
earn rewards when you trade

Trade the world’s financial markets your way

Explore our powerful suite of trading platforms

Let’s get started

Reach new heights

Windsor brokers is offering investment services and activities to its clients since 1988.

Windsor brokers (BZ) ltd is regulated by international financial services commission in belize, offering its services within the rest of the world except USA, EU and belize.

Seldon investments limited/jordan, registered under company national number 200168191, is licensed and regulated by jordan securities commission (JSC), offering its services mainly to jordan and arabic region.
Windsor brokers is offering forex and CFD trading on gold, oil, soft commodities, shares, indices and more.
Windsor brokers is committed to maintain the highest standards of ethical behavior, professionalism, integrity, as well as a high level of trust and confidence.
Services and products offered by windsorbrokers.Com are not intended to be used by residents of the united states of america, belize and the member states of the european union. WB global ltd is the EU registered company situated at spyrou kyprianou 53, 4003 limassol, cyprus facilitating payment services to windsorbrokers.Com

Windsor brokers ltd is a cypriot investment firm, licensed and regulated by cyprus securities and exchange commission (cysec), under the license no. 030/04, offering its services mainly within the european region under windsorbrokers.Eu

Risk warning: contracts for difference (CFD) are complex financial instruments carrying a substantial level of risk, and may not be suitable for all investors, as may result in a loss of all invested capital rapidly due to leverage. You should consider whether you understand how cfds work, your investment objectives, level of experience, risk appetite and, if necessary, seek advice from an independent financial advisor. Please read the full risk statement

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