1
Founded200917 yrs
Min. deposit$5USD
Max leverage1:1000up to
4.6/5
XMASIC · CySEC · DFSA
ExnessFCA · CySEC · FSCA
TMGMASIC · FSC-MU · VFSC
PepperstoneASIC · FCA · CySEC
IC MarketsASIC · CySEC · FSA-SC
GO MarketsASIC · CySEC · FSA-SCRisk warning:CFDs and leveraged forex trading are high-risk products that can lose your entire capital very quickly, and are not suitable for every investor. Everything on this site is information only and is not investment advice, an offer or a recommendation. Check the rules that apply where you live and read the broker's full terms and risk disclosure before opening an account. Some links on this site are affiliate links that may earn us a commission; this does not affect our scores or rankings.
Last reviewed: 24 July 2026
Our independent forex broker reviews compare regulation, real spreads, swap rates, withdrawal speed and platform tools — so you can shortlist the best forex broker for your needs before signing up.
Independent scoring · Partnerships never move a ranking
XMEditorial score · re-checked monthlyExnessEditorial score · re-checked monthlyTMGMEditorial score · re-checked monthly
FCAUnited Kingdom
SFC-COColombia
NFAUnited States
FINMASwitzerland
ASICAustralia
SFC-HKHong KongEvery licence number is checked against the regulator's public register, monthly
Five criteria combine into one final score
Broker Ranking
Compare every forex broker on the same fields and review cycle. Select two or three best broker candidates for a side-by-side comparison; the green button opens the broker's official sign-up page.
Minimum deposit and leverage follow the standard account of the entity you sign with; confirm the figures at sign-up.
In-depth Reviews
Every forex broker review states its sources, the live account we used and the date it was last verified — including who the broker is not right for.
A contract-based review of XM’s legal entities, account costs, leverage tiers, execution model, withdrawals and complaint routes.
Brokers coveredXM4.6XMOur score, out of 5.0Broker Promotions
Only offers with published, verifiable terms — annotated with eligible regions, account types and payout method.
·2026-08-09
Three rewards combine a first-week deposit bonus, a monthly trading bonus and an FXCM Hub reward.
·2026-08-09
FOREX.com combines a new-account bonus with referral, broker-transfer and active-trader rewards.
·2026-08-09
New users depositing US$500–30,000 can receive a bonus of up to US$9,000.
Brokers' Updates
Verified reporting on brokers, trading platforms, regulation and market products — without price forecasts or trading signals.
Exinity appointed former OANDA executive Darren Moffett as Chief Marketing Officer for the FXTM brand. Based in London, he will oversee global marketing strategy, proposition development and client acquisition; the report does not announce an immediate product or regulatory change.
Affects: Readers tracking FXTM and Exinity leadership, brand strategy and customer-acquisition directionSource verifiedView detailsPepperstone appointed Andrew Turnbull as Head of Africa, based in Nairobi, to lead the broker's strategy across the continent. The appointment is a leadership and resource-allocation signal; it does not announce a new product or an Africa-wide regulatory permission.
Affects: Readers tracking Pepperstone leadership and country-specific expansion strategy in AfricaSource verifiedView detailsXMTrading's Japanese-facing newsroom announced a MUGEN cashback campaign running from 1 to 30 September 2026. Eligible new and existing participants can move through cashback tiers by trading qualifying lots; the highest tier offers a chance to receive cashback without a stated cap, subject to the campaign terms.
Affects: Eligible users of the Japanese-facing XMTrading service who trade qualifying instruments and volumes during the campaign windowSource verifiedView detailsXMTrading's Japanese-facing newsroom published temporary trading-hour changes for listed instruments around holidays on 1, 7 and 8 September 2026. The source table uses server time (GMT+3) and includes closures, early closes, delayed opens and one contract expiry.
Affects: Users of the Japanese-facing XMTrading service with positions or orders in the instruments listed for 1, 7 and 8 September 2026Source verifiedView detailsXMTrading's Japanese-facing newsroom opened registration for an upcoming demo trading contest and crypto challenges. The notice says participants use virtual funds in a dedicated demo account and that a total prize pool of USD 50,000 will be shared among 100 winners, subject to terms.
Affects: Eligible users of the Japanese-facing XMTrading service considering registration for the advertised demo contest and crypto challengesSource verifiedView detailsFinance Magnates linked Pepperstone's search for a Head of Cross-Asset Strategy to a broader move beyond a CFD-only identity. Management commentary described product innovation as a strategic capability, but the report did not confirm a specific new instrument or launch date.
Affects: Readers tracking Pepperstone corporate, staffing, ownership or partnership developmentsSource verifiedView detailsRob Bowen departed Pepperstone after seven years, leaving his roles as Chief Commercial Officer and UK Chief Executive. The change follows several other senior appointments, but the source did not establish a successor for both responsibilities at publication time.
Affects: Readers tracking Pepperstone corporate, staffing, ownership or partnership developmentsSource verifiedView detailsPepperstone appointed Nigel Fernandes as Chief Technology Officer, effective 1 October 2026. He is expected to oversee global engineering, architecture, security and data as the group develops more technology in-house following its Australian spot-crypto launch.
Affects: Readers tracking Pepperstone corporate, staffing, ownership or partnership developmentsSource verifiedView details
Our Methodology
Primary sources, live-account testing and fixed weights. Partnerships decide whether a sign-up link appears — never the score, the order or the conclusion.
Licence changes, fee revisions, platform releases and new offers in a single read. Unsubscribe any time; we never pass your address on.
FAQ
Pick a topic to narrow the list. If your question isn't here, write to the editorial team directly.
Contact the editorsNo. Rankings come out of fixed weights applied to fields anyone can verify. Some brokers do have an affiliate relationship with us, which only determines whether a sign-up link is shown and whether we earn a commission — it never changes the score or the order. Every affiliate link is labelled.
Start with the regulator and the entity you will actually contract with. The same brand often operates through different entities per region, with different client-money rules, compensation schemes and leverage caps. Only then compare trading cost and funding, and last of all platform features and promotions.
It is decided by your country of residence, and it is named in the client agreement you accept at sign-up. The entity sets your leverage cap, whether negative balance protection applies, whether a compensation scheme covers you and who hears a complaint — so the same brand can mean very different protection depending on where you live.
Four things add up: the spread, any per-lot commission, the overnight swap if you hold past the daily rollover, and currency conversion when your deposit currency differs from the account currency. On a raw-spread account the commission alone is often larger than the spread, so compare the all-in figure rather than the headline number.
It keeps your balance in a separate bank account from the broker's own operating money, so it should not be treated as company assets in an insolvency. It does not protect you from trading losses, and it is only as strong as the auditing behind it — which is why the regulator matters more than the wording on the website.
