In this post, we’ve taken a look at five of the best forex brokers in the UAE at the moment.

For each broker, we’ve assessed them based on their spreads and fees, reputability and trustworthiness, customer service, and more, to see which is best.

If you’re in a rush, make sure to click the links in the description to each of the brokers we’ve reviewed, to learn more about their services, and open an account to test their trading platforms.

CMC Markets

CMC is a large, reputable forex broker, regulated by the Dubai Financial Services Authority in the UAE. They have very tight spreads across most major pairs, and also have low commissions on their raw spread accounts, in case you prefer to get the lowest spreads possible.

The best thing about CMC though is the breadth and depth of their trading options. They have nearly 350 different currency pairs you can choose to trade at the moment, and allow you to trade international equities, if you want to consolidate all of your trading activity into a single location.

The one downside to CMC is they only allow you to trade using MetaTrader 4 at the moment, instead of MT5 or TradingView. However, they also have quite a good in-house trading platform, which is available on Android and iOS apps, if you don’t want to use MT4.

There’s no minimum account deposit required to get started with CMC Markets, and creating an account as a UAE trader is also quite straightforward, which is good.

IG Markets

IG Markets is another large, well-established forex broker, regulated by the DFSA in the United Arab Emirates. As well as having approval from the UAE market regulator, IG is also licensed by the FCA in the UK, BaFin in Germany, ASIC in Australia, the CFTC in America, and MAS in Singapore, further demonstrating their credentials as a reputable forex broker.

There’s no minimum deposit amount for new accounts, just like with CMC, and IG also has more than 100 different currency pairs to trade – more than enough variety for most forex traders.

You can also trade international equities and CFDs, and IG tends to offer very good customer service compared to other similar large forex brokers. Also, as well as MetaTrader 4, you can also trade using TradingView.com, in case you’re looking for a slightly more modern interface to monitor price action and place orders.

There are inactivity fees though with this broker, and their commissions can be a bit high. However, their spreads are low, and as a market maker, IG tends to offer very fast trade execution, which is useful if you’re a scalper.

Pepperstone

There are quite a few similarities between IG and Pepperstone. They are both available to UAE traders, and both offer a similar number of currency pairs to trade. They also both offer share and commodity CFD trading, and have no minimum deposit to get started.

There are a few advantages to Pepperstone over IG though. For example, they have a larger range of trading platforms available to use, including MT4, MT5, TradingView, and cTrader, which is nice.

Also, they have lower commissions while still offering similarly tight spreads on most pairs, and have a larger range of funding methods to choose from when adding Dirhams to your account.

The only real downside to Pepperstone is they don’t have as many regulatory approvals from tier-1 countries as some other brokers, like IG. While they have approval in the UAE, Cyprus, and UK, IG is also licensed in countries like Australia, South Africa, and Singapore, meaning they have undergone more scrutiny from international regulatory bodies.

AvaTrade

AvaTrade is a bit of a smaller broker compared to the other three we’ve looked at so far. However, they’re still regulated by the ADGM in Abu Dhabi, as well as CIRO in Canada, ASIC in Australia, CBI in Ireland, and the Cypriot and South African national market regulators.

There is a $100 minimum deposit requirement to get started, which is a bit high, but nowhere near as high as some other brokers on the market right now. AvaTrade has a good range of trading platforms you can choose from, including MetaTrader 4 and MetaTrader 5, although TradingView isn’t available to use.

The biggest downside to AvaTrade is the number of currency pairs available. There are only about 55 different pairings you can choose to trade at the moment.

FXTM

FXTM is the only broker we’ve looked at that isn’t regulated in the UAE. However, you can still sign up to their Middle East subsidiary, and they do have licensing in the UK, Cyprus, South Africa, Mauritius, and more, making them quite a reputable broker.

The thing that stands out about FXTM is their customer service. Compared to some other bigger brokers, they tend to be more responsive and helpful in case you ever run into any issues with your account.

They have just a $10 minimum deposit to get started, and offer trading on both MT4 and MT5, which is good. However, similar to AvaTrade, the range of currency pairs available on FXTM isn’t amazing compared to the likes of CMC. Also, their spreads and commissions could be a bit lower compared to some other bigger brokers.

Conclusion

Fortunately, you have quite a good range of choices when it comes to picking a forex broker as a resident of Dubai, Abu Dhabi, or elsewhere in the UAE. CMC, IG, and Pepperstone are all worth considering, depending on what’s important to you.

For example, you might prefer CMC for the number of currency pairs they have available. On the other hand, you might like to choose Pepperstone because of the larger range of trading platforms they allow you to use.

Remember, click the links in the description to learn more about the five brokers we’ve looked at, and open an account to see what they’re like to begin trading with. And if you have any questions about choosing a forex broker in the United Arab Emirates, leave us a comment, and we’ll get back to you as soon as we can.

Mark

Hi, I’m Mark! I’ve been trading forex for nearly 10 years now, and I started this site to help others navigate the sometimes confusing world of brokers, spreads, and trading platforms. I’ve spent countless hours testing different brokers, comparing fees, and figuring out which companies in this industry actually deliver on their promises.

When I’m not trading, I enjoy hiking, trying out new coffee spots, and tinkering with automated trading strategies (some successful, some… not so much). My goal is to make forex trading less overwhelming and help you find the right broker or platform to fit your trading style.

Brokers that allow you to trade using MT5 are actually quite rare, so in this post, we’ve taken a look at the best forex brokers that you can use with the latest version of MetaTrader.

For each broker, we’ve assessed them based on their spreads and commissions, customer service, reputability, and more, to see which is best.

Before we begin, make sure to click the links in the description to each of the brokers we’ve looked at, to compare their services, and open an account to test their MT5 trading.

Forex.com

In terms of reputability and availability, it’s hard to go past Forex.com. This broker is regulated in the United States, UK, Canada, Australia, Japan, Hong Kong, and more, and you can join them from more than 140 different countries at the moment.

They offer the ability to use MetaTrader 5, and have been around since 2001, making them one of the longest-running dedicated forex brokers on the market right now.

Forex.com also has great customer service – and you should be able to get an account rep assigned to you as a larger trader. They have about 90 different currency pairs you can trade at the moment, more than many other brokers, and a good range of CFDs on offer as well.

There is a $100 minimum deposit requirement to begin trading with Forex.com, but apart from that, there aren’t really any downsides to this forex broker if you want a reputable option to begin trading on MetaTrader 5.

Pepperstone

Pepperstone is another large, extremely reputable forex broker that offers MT5 trading. They’re regulated in Germany, the UK, Australia, Dubai, and more, but aren’t available to join in Canada or the United States at the moment.

They have very tight spreads, and there’s no minimum starting deposit, unlike with Forex.com, which is nice. Pepperstone also has a good number of currency pairs to choose from, and apart from MT5, they also have a huge range of other trading platforms on offer, including MT4, TradingView, and cTrader, in case you want to experiment with different trading software solutions.

Pepperstone also has a much larger range of account funding methods compared to many other forex brokers. In most countries, you can add money to your trading account with credit and debit cards, Neteller, Skrill, Google Pay, Apple Pay, and PayPal, which is good.

IC Markets

IC Markets does have some downsides compared to the other brokers we’ve looked at so far. They have a $200 minimum starting deposit for new accounts, and they only have 61 different currency pairs you can trade, instead of the 80 to 100 or more that some other brokers offer.

However, they support MetaTrader 5, along with MetaTrader 4, cTrader, and TradingView, and offer competitive spreads on most major pairs. IC Markets is quite widely available around the world, especially across Europe and Oceania, and they also tend to offer quality customer service.

Another benefit of this broker is the range of funding methods they have available. You can deposit money using less common methods like PayPal, as well as wire transfer and credit card, which is great. They also offer a good range of CFDs, and have decent social trading options as well.

FP Markets

FP Markets isn’t as well-regulated as the likes of Pepperstone or Forex.com. The most reputable market regulators they have approval from at the moment are ASIC in Australia, the FSCA in South Africa, and CYSEC in Cyprus.

However, they support MetaTrader 5, and make it very easy to set up an account, although there is a small $100 minimum deposit requirement that you have to meet. There are no inactivity fees, unlike with IC Markets, which is great, and this is another forex broker with really strong customer reviews. Their support and service is quite a lot better than some of the other bigger brokers you can choose from at the moment.

The other reason you might like to consider FP Markets is for the low spreads they offer on certain pairs, which are great for day traders and scalpers.

FXTM

FXTM, also known as ForexTime, is similar to FP Markets in some ways. They don’t have as many regulator approvals from tier-1 countries as the likes of Pepperstone, although they are FCA approved in the UK, and also have approvals in South Africa, Kenya, Cyprus, and Mauritius.

The good thing is, they’re very easy to get started with. FXTM has just a $10 minimum deposit, and it’s generally also very easy to set up an account on their website. You can easily place trades with MT4 or MT5 as an FXTM customer, and their spreads are generally very competitive, although their commissions could be a little lower.

The main downside to FXTM is the number of pairs they offer. There are just 58 different currency pairings you can trade at the moment, which might be a problem if you like to trade more obscure pairs.

Conclusion

While not all forex brokers allow their customers to easily use MetaTrader 5, it is possible to find good brokers that support this trading platform. For us, we like to use Forex.com, as they’re a very reputable broker, and they’re also available in a large range of countries.

However, we also think Pepperstone is worth considering if you can join them where you live. Remember, click the links in the description to each of the brokers we’ve compared to learn more about them, and open an account to begin testing them out.

And if you have any questions about choosing an MT5 forex broker, drop us a comment below, and we’ll respond as soon as we can.

Mark

Hi, I’m Mark! I’ve been trading forex for nearly 10 years now, and I started this site to help others navigate the sometimes confusing world of brokers, spreads, and trading platforms. I’ve spent countless hours testing different brokers, comparing fees, and figuring out which companies in this industry actually deliver on their promises.

When I’m not trading, I enjoy hiking, trying out new coffee spots, and tinkering with automated trading strategies (some successful, some… not so much). My goal is to make forex trading less overwhelming and help you find the right broker or platform to fit your trading style.

In this post, we’ve taken a look at five of the best forex brokers that support TradingView right now.

For each broker, we’ve compared their performance based on their spreads and fees, reputability, customer service, and more, to see which is best.

If you’re in a rush, make sure to open the description to find the brokers we’ve discussed, and click the links in the description to learn more about their services, and open an account.

Oanda

Oanda is a really good all-round forex broker that offers the ability to place trades, manage orders, and monitor price action using TradingView.com.

Oanda is reputable and well-regulated, having approval from the CFTC in America, the FCA in the UK, ASIC in Australia, CIRO in Canada, and MAS in Singapore, as well as from other national market regulators.

The best thing about Oanda is their customer service. In general, they’re very responsive, and their team is quite knowledgeable at troubleshooting any issues you might have.

They have competitive spreads, and there’s no minimum deposit required to get started with a new account, which is good. The one downside to Oanda is they only have 68 different currency pairs to trade. If you like to trade more obscure pairs with less liquidity, this might be a problem, but for most traders, it’s not an issue.

IG

IG is another large, very well-regulated forex broker, with approvals in America, the UK, Singapore, South Africa, Australia, New Zealand, Bermuda, and more.

Compared to Oanda, they have a lot more pairs you can trade, totaling more than 100 at the moment, and IG has a much larger range of CFDs to trade, if CFD trading is allowed in your country.

Just like Oanda, IG offers TradingView and MetaTrader 4 access, and also has quite a good mobile app and desktop platform as well. As a market maker, IG offers very fast execution speeds, and their spreads are very competitive as well.

The only real downside to this broker is their customer service isn’t quite as good as Oanda’s. However, their team is still very responsive and quick to help out if you ever need assistance.

Pepperstone

Pepperstone has just about the largest range of trading platforms of any broker on the market right now.

Currently, they give you the choice of trading with TradingView, MT4, MT5, cTrader, and their own platform, which is great. There’s no minimum deposit required to begin trading, and they have a really good range of currency pairs to choose from.

Pepperstone is also a large, trustworthy broker, regulated in Australia, Germany, Dubai, and the UK, although they don’t have American, Canadian, or Singaporean approval at the moment.

Their spreads are very low across most major pairs, and they have a large range of funding methods to choose from in most countries. Also, unlike many other brokers on the market, there are no inactivity fees, and no funding fees when you add money to your brokerage account.

Overall, if Pepperstone is available in your country, they’re definitely worth checking out. The only reason we haven’t ranked them higher is their platform is only available in a few different countries at the moment.

Forex.com

Similar to Pepperstone, Forex.com is a large, long-running broker, which has been in operation since 2001.

Their platform is available in a huge range of countries, including the US, UK, Canada, Japan, South Africa, and most of Europe, and they have a good range of tier-1 regulator approvals as well.

Forex.com has nearly 100 different currency pairs you can trade, more than quite a lot of other brokers. However, there is a $100 minimum deposit requirement. On the plus side though, they support TradingView, as well as MetaTrader 4 and MetaTrader 5, but their spreads are a bit high on some pairs.

Ultimately, the best thing about Forex.com is how reputable they are. It’s also worth mentioning that they offer good customer service. However, some other brokers offer lower spreads and commissions, and make it easier to open an account and get started on their platform.

FP Markets

FP Markets is a bit like Pepperstone when it comes to the range of trading platforms you can choose from.

TradingView, MT4, MT5, and cTrader are all available to use, in most of the countries they service. FP Markets have low commissions on their raw spread accounts and also offer competitive spreads on their regular accounts as well.

There is a $100 minimum starting deposit though, and they only have about 60-70 different pairs to trade, which is a bit of a downside.

However, FP Markets has a really good range of share and crypto CFDs to trade if you’re into that, and they have a good range of funding methods in most geographies as well. It’s just, most of the other brokers on this list offer better customer service, more pairs to trade, and slightly tighter spreads than FP Markets at the moment.

Conclusion

Fortunately, there are quite a few good quality forex brokers that offer native connections to TradingView.com at the moment.

So, when choosing a TradingView broker, your choice comes down to other aspects of their service. For customer service, Oanda is a good choice, while IG is a good choice if you want fast execution speeds. On the other hand, Pepperstone offers tight spreads, and are very reputable, as is Forex.com.

Remember, click the links in the description to all of these brokers to learn more about their services and open an account to see what they’re like to trade with. And if you have any questions about choosing a TradingView forex broker, leave us a comment below, and we’ll get back to you.

Mark

Hi, I’m Mark! I’ve been trading forex for nearly 10 years now, and I started this site to help others navigate the sometimes confusing world of brokers, spreads, and trading platforms. I’ve spent countless hours testing different brokers, comparing fees, and figuring out which companies in this industry actually deliver on their promises.

When I’m not trading, I enjoy hiking, trying out new coffee spots, and tinkering with automated trading strategies (some successful, some… not so much). My goal is to make forex trading less overwhelming and help you find the right broker or platform to fit your trading style.

In this post, we’ve taken a look at five of the best low spread forex brokers you can join at the moment.

For each of these brokers, we’ve also explained what you need to do to access their zero spread account, because sometimes, there’s a special process you need to follow.

Before we begin, make sure to click the links in the description to these brokers’ websites, to learn more about their services, and open an account.

Oanda

Oanda currently offers two different types of forex accounts – spread only, and core spread plus commission. With the core plus commission option, you only pay the base spread, also known as the core spread, on all currency pairs. This means you get zero spreads on many major pairs, including AUD/USD, EUR/GBP, and USD/JPY, among others.

The best thing about Oanda is their customer service. They’re a lot more helpful and more responsive than many other brokers on the market, meaning you can normally get any account or other issues resolved really quickly.

Oanda is also a well-regulated, trustworthy broker, approved by market regulators in Australia, the UK, Canada, Singapore, and the United States. There’s no minimum account deposit to get started, and they also have a really good range of pairs to choose from, although some of the smaller ones do have spreads.

The only real downside to Oanda is they don’t support MetaTrader 5 at the moment. However, you can use MT4 or TradingView to make trades, and their proprietary software platform is really good as well.

CMC Markets

CMC Markets is another large, reputable, well-regulated forex broker. They’re regulated in Germany, Canada, Australia, Dubai, and other regions, and offer a special “FX Active” account, which comes with zero spreads on six major pairs, including AUD/USD, EUR/USD, GBP/USD, and more.

CMC is another option with no minimum deposit for new traders, but they have a much larger number of pairs to trade than the likes of Oanda. There are currently more than 300 different currency pairs you can trade with CMC, plus a huge range of share, crypto, and other CFDs.

They also have quite reasonable commissions, at just $2.50 per standard lot round trip. On the FX Active account, you can only trade with MT4 or CMC’s own trading software, which is a bit of a downside. However, given the fees they’re charging, and how reputable they are, CMC Markets is definitely worth considering if you want to trade major pairs with no spreads.

Exness

Exness has a few different special types of trading accounts you can use to achieve zero spreads when trading forex. The first is their Zero account. It offers low or no spreads on their top 30 most popular instruments, including stocks, commodities, crypto, and forex.

However, if you want zero spreads on a wider range of pairs, their Raw Spread account is a better option. It’s very similar to the Zero account, except has zero spreads on more pairs and comes with a $3.50 commission, which is a bit higher than most other Exness account types.

Even though they’re not as much of a household name as a broker like CMC, Exness is still very well-regulated. They have approval in the UK, Cyprus, South Africa, and other regions. Their customer service is good, and they have nearly 100 different currency pairings you can trade. They also allow you to place orders with MetaTrader 5, although TradingView isn’t available to use at the moment.

FP Markets

FP Markets offers a special Raw account type, which comes with zero spreads on a range of pairs at the moment. This broker doesn’t have quite as many regulator approvals as the other companies we’ve looked at so far, but their commissions are quite reasonable, at $3 per standard round trip on their Raw account.

There is a $100 minimum deposit to get started, and there are only about 60 different pairs you can trade with this broker – a decent bit lower than CMC, for example.

However, FP has a really good range of platforms you can choose to trade on, including TradingView, cTrader, MT4, and MT5, which is great. Their customer service is also pretty good, and they also have a large range of funding methods available, including credit and debit cards, Skrill, Neteller, and even PayPal in some locations.

IC Markets

Finally, IC Markets is another broker that offers a raw trading account, with no spreads on certain pairs. Similar to FP Markets, this broker supports MT4, MT5, cTrader, and TradingView, which is nice, and they also have quite a good proprietary trading platform you can use as well.

Their execution speeds are fast, which is good for scalpers, and they have a great range of funding methods to choose from in most countries they service. However, there are some downsides to IC Markets worth knowing about. They only have 61 currency pairs to trade, which is the fewest of any broker we’ve looked at here.

There’s also a $200 minimum deposit for new accounts, and their commissions are $3.50, instead of the $2.50 or $3 you’d pay with CMC or Exness. IC Markets is a good choice if you’re in one of the countries they service, like Australia or Cyprus. However, there are better, more widely available low spread brokers on the market at the moment.

Conclusion

When choosing a zero spread forex broker, the most important thing to think about is the pairs you want to trade. Zero spreads are most commonly available on major pairs like GBP/USD, but this can vary by broker. So, it’s important to check which pairs a given broker offers on their raw spread account before you join them.

For most people, in most countries, Oanda, CMC, or Exness are a great choice, depending on the pairs you want to trade and the trading platforms you want to use. Click the links in the description to learn more about each of the brokers we’ve looked at, and to open an account and try their zero spread trading. And if you have any questions about choosing a broker, leave us a comment below, and we’ll get back to you.

Mark

Hi, I’m Mark! I’ve been trading forex for nearly 10 years now, and I started this site to help others navigate the sometimes confusing world of brokers, spreads, and trading platforms. I’ve spent countless hours testing different brokers, comparing fees, and figuring out which companies in this industry actually deliver on their promises.

When I’m not trading, I enjoy hiking, trying out new coffee spots, and tinkering with automated trading strategies (some successful, some… not so much). My goal is to make forex trading less overwhelming and help you find the right broker or platform to fit your trading style.

In this post, we’ve reviewed and compared five of the best forex brokers regulated in South Africa at the moment.

We’ve assessed these brokers based on their spreads and fees, trustworthiness, customer service, and more, to see which are worth joining.

If you’re in a rush, make sure to check the description to quickly find the five brokers we’ve mentioned, and click the links to their websites to learn more about their services.

Exness

Exness is a large, extremely well-regulated broker, licensed by the Financial Sector Conduct Authority in South Africa, as well as the British, Cypriot, Kenyan, and a few other national market regulators.

They have tight spreads, low commissions, and 96 different currency pairs you can trade – more than most other South African forex brokers at the moment.

They offer leverage of up to 30 to 1, which is quite good for a regulated broker, and have a large number of different trading platforms to choose from, including MetaTrader 4 and MetaTrader 5, as well as their own proprietary software.

There’s just a 10 dollar minimum deposit to get started, and creating an account is generally a quick and easy process for South African traders.

Plus, Exness also has quite good customer service, with help available in English or Swahili, among other languages. They’re available 24/7, rather than only being open five days a week like most other brokers.

Overall, if you’re looking for a forex broker to join in South Africa, Exness is a great all-round option.

AvaTrade

The best thing about AvaTrade is how beginner-friendly they are. They have a huge amount of resources on their website, including videos, articles, and webinars, to help you learn the ropes more quickly as a new trader.

These tutorials help explain how to do things like monitor price action, place different types of orders, and manage stop losses, helping you get started more quickly as a beginner.

These resources are all integrated into the AvaTrade platform, showing you exactly what you need to do to begin trading smoothly. If you don’t want to use AvaTrade’s software, they also offer the ability to trade using MetaTrader 4 or MetaTrader 5, which is quite helpful.

Most other brokers don’t allow you to use MT5 at the moment. However, it is worth noting that you can’t place orders with TradingView, as an AvaTrade investor, which is a bit of a downside.

On the plus side though, this broker offers tight spreads, and fast execution, which is helpful if you’re a scalper or day trader. The biggest downside to AvaTrade is they have a $100 minimum starting deposit at the moment, which can be quite a lot for some South African traders.

FP Markets

If it’s low fees you’re after, FP Markets is definitely worth looking at. They have very tight spreads, and low commissions across most major currency pairs.

Speaking of pairs, they have 63 available to trade, which is a bit above average across most forex brokers, and they also offer a number of CFDs to trade as well.

FP also have a huge range of account funding options – a lot more than most other brokers – including PayPal, credit and debit cards, Skrill, and bank transfer, among others.

The biggest strength of this broker though is the number of trading platforms they have available. As an FP Markets customer in South Africa, you can trade using MT4, MT5, cTrader, TradingView, and more, which is great.

However, there is a $100 minimum deposit required to get started with this broker. Click the links in the description to learn more about FP Markets, AvaTrade, and Exness, and see if they’re the right forex broker for your needs.

FXCM

FXCM is another large, well-regulated broker. They’re licensed in South Africa, as well as Australia, the UK, Cyprus, Canada, and other countries as well, meaning their operations have undergone quite a lot of scrutiny by the regulators.

Their minimum deposit is fairly low, at just $50, and they have a good range of funding options to choose from. Plus, their spreads are quite competitive across most major pairs.

The best thing about FXCM though is their customer service. Their support team is one of the best out there – they’re generally very responsive, and also quite knowledgeable if you ever raise any issues.

There are some downsides to FXCM though, which is why they’re only fourth on this list. The first is the lack of trading platforms they’re compatible with. You can trade with MT4 or TradingView as an FXCM customer, but you can’t use cTrader or MT5 at the moment.

Also, compared to some other brokers, FXCM doesn’t have a huge number of different currency pairs to trade – only 42 are available to choose from at the moment.

FXTM

Although the two companies have similar names, and are both regulated in South Africa, there are quite a few differences between FXCM and FXTM, also known as ForexTime.

This forex broker has a lot more currency pairs to choose from than FXCM, and also more funding methods for your account, although PayPal isn’t available at the moment.

FXTM’s customer service isn’t quite as good as FXCM’s, but they have a lower minimum deposit to get started, at just $10, which is good. The FXTM platform is fairly basic, but similar to AvaTrade, trader education is their biggest strength.

They have a huge range of guides and resources available, including an e-learning trading academy, which is very useful if you’re learning the ropes.

Conclusion

So, which broker should you choose as a South African forex trader? It depends on what you’re looking for in a broker.

In general, Exness is a great all-round option. They’re well-regulated, have great customer service, and a large number of currency pairs and trading platforms to choose from. AvaTrade and FXTM are worth looking at for new traders searching for help on their trading journey, and FP Markets has very low fees, as well as MT5 compatibility, which might be important for some traders.

Remember, click the links in the description to these five brokers to learn more about them, and open an account to see what they’re like to trade with. And if you have any questions about choosing a South African forex broker, drop us a comment, and we’ll get back to you ASAP.

Mark

Hi, I’m Mark! I’ve been trading forex for nearly 10 years now, and I started this site to help others navigate the sometimes confusing world of brokers, spreads, and trading platforms. I’ve spent countless hours testing different brokers, comparing fees, and figuring out which companies in this industry actually deliver on their promises.

When I’m not trading, I enjoy hiking, trying out new coffee spots, and tinkering with automated trading strategies (some successful, some… not so much). My goal is to make forex trading less overwhelming and help you find the right broker or platform to fit your trading style.

In this post, we’ve looked at the top five best forex brokers regulated in the UK at the moment.

For each broker, we’ve assessed them based on their reliability and trustworthiness, spreads and fees, software platforms, customer service, and more, to see which is best.

If you’re in a rush, make sure to open the description to quickly find the brokers we’ve reviewed, and click the links to their websites to start an account and test them out.

Oanda

There’s a lot of things we like about Oanda as a forex broker.

The first is their customer service. They have one of the most helpful, most responsive customer support teams of any major broker on the market right now.

Oanda is a large, well-established broker, regulated by the Financial Conduct Authority in the UK. They’re large enough to act as a market maker for their forex clients. As a result, they perform well during periods of high market volatility, offering good liquidity, even when prices are moving quickly.

Their execution speeds are also very fast, which is great for scalpers, and they also have no minimum deposit requirements for new customers, which is a nice touch.

They support MetaTrader 4, and TradingView, but unfortunately don’t support MT5 or cTrader at the moment. On the plus side though, Oanda has a particularly good proprietary trading platform, and their iOS and Android apps are also very intuitive to use, making them a good choice for day traders who need to place orders on the go.

Pepperstone

Pepperstone are a really great choice for many different types of British forex traders.

They generally have some of the tightest spreads and lowest fees of any broker on the market, depending on the pair you’re trading. Speaking of currency pairs, they have 83 to choose from – quite a lot more than some other brokers – and no account funding fees.

Since they’re quite a large broker, offering many different types of instruments, they also have a large range of share trading and CFD markets available as well, which can be helpful if you want to consolidate your trading and investments into a single platform.

Another really good thing about Pepperstone is the number of funding methods they have available. They accept debit and credit cards, bank transfers, as well as less common funding methods like PayPal, which is nice.

Not to mention, they support a huge number of different trading platforms, including MetaTrader 5, which most other brokers don’t allow you to trade on at the moment.

IG Markets

IG Markets are another large, extremely well-regulated forex broker you can join as a UK resident.

As well as having approval from the FCA in the UK, IG is also licensed by FINMA in Switzerland, ASIC in Australia, MAS in Singapore, the CFTC in America, and DFSA in Dubai, among other regulators.

Like with Oanda and Pepperstone, there’s no minimum deposit to get started, and IG has a huge number of currency pairs you can choose to trade. They also have good customer service, and offer a larger range of CFDs to trade than Oanda, if you’re into trading contracts for difference.

IG is also one of the few other brokers to act as a market maker, due to their size, and as a result, they offer similar spreads to Oanda – typically, they’re very low.

We rank Oanda a bit higher than IG just because we think their customer service is a bit better. But apart from that, both brokers are very similar, and we think they’re both worth looking at. Make sure to click the links in the description to learn more about IG, Pepperstone, and Oanda’s forex brokerage services.

Forex.com

While forex.com isn’t the largest on this list, they are very reputable – being FCA regulated – and have been in operation since 2001.

They offer competitive spreads, and a really good range of trading platforms, including TradingView, and MetaTrader 5. The other main strength of forex.com is the number of currency pairs they offer – currently, they have 91 different pairs you can choose to trade.

In the UK, they’re limited to 30 to 1 leverage, which is relatively low, but is quite typical among other FCA-regulated brokers. This is a pretty similar number to the other companies we’ve looked at so far.

On the whole, if you’re looking for a MT5 broker, or one with a really good number of pairs to trade, forex.com is definitely worth considering.

eToro

Last on this list, we’ve looked at eToro.

eToro isn’t regulated in as many countries as the likes of IG or Pepperstone, although they are FCA licensed in the UK. Also, unlike the other brokers we’ve looked at so far, they do have a minimum deposit, although it’s just 10 US dollars for British forex traders.

The benefit of eToro is the number of instruments they offer to trade. They have a large number of currency pairs available, and also a huge number of CFDs and share trading options, which is nice. There are no commissions when forex trading on eToro, and their spreads are very competitive on most major pairs.

You may have heard about withdrawal fees with eToro, but these don’t apply to pound or Euro accounts, so these shouldn’t affect you as a British forex trader. The biggest downside to eToro is you generally have to use their trading software. They don’t support most common charting and order execution software like MetaTrader or TradingView at the moment.

Conclusion

So, which UK forex broker should you choose? In the UK, the large, well-regulated brokers like Oanda, IG, and Pepperstone tend to perform the best. They have the most pairs to trade, and normally offer a good range of trading platforms to choose from, although this can vary by broker.

Oanda is a really good allrounder, while Pepperstone is worth considering if you want to use PayPal to fund your account. IG is also a good option if you’re looking for a really trustworthy broker, with good customer service.

Remember, make sure to click the links in the description to these brokers to learn more about them, and open a forex account. And if you have any questions about choosing a forex broker in the UK, leave us a comment below, and we’ll get right back to you.

Mark

Hi, I’m Mark! I’ve been trading forex for nearly 10 years now, and I started this site to help others navigate the sometimes confusing world of brokers, spreads, and trading platforms. I’ve spent countless hours testing different brokers, comparing fees, and figuring out which companies in this industry actually deliver on their promises.

When I’m not trading, I enjoy hiking, trying out new coffee spots, and tinkering with automated trading strategies (some successful, some… not so much). My goal is to make forex trading less overwhelming and help you find the right broker or platform to fit your trading style.

In this post, we’ve taken a look at five of the best forex brokers regulated in Canada right now.

We’ve assessed each of these CIRO-regulated brokers based on their trustworthiness, spreads and fees, trading platforms, customer service, and more, to help you find the right broker for your trading style.

If you’re in a rush, open the description below to view the brokers we’ve assessed in this post. Click the links to their websites below to learn more about their platforms and begin trading with them.

Let’s get started.

1. Oanda

Oanda is definitely worth looking at if you’re searching for a Canadian forex broker.

They’re regulated by the Canadian Investment Regulatory Organization, formally known as the IIROC, meaning they’re fully licensed to operate in all 13 provinces and territories.

Oanda is a large, well-established broker that also acts as a market maker. This means they have no commissions on trades, and their spreads tend to be very small, which is good for day traders and scalpers.

They have a huge number of currency pairs to trade on, and there’s no minimum deposit required to get started. Some other brokers make you deposit a minimum amount, normally a hundred US dollars, before you can begin trading.

Speaking of getting started, signing up for Oanda is a quick and easy process, and we’ve found their customer service is normally very helpful. Their live chat is responsive, and their team is quite knowledgeable if you ever run into any issues with your account.

While Oanda supports Metatrader 4 and TradingView, they also have quite a good proprietary platform, as well as intuitive Android and iOS apps. Their software and user interfaces are a lot better than what most other brokers offer. However, Oanda doesn’t support Metatrader 5 at the moment, which might be important to some traders.

2. CMC Markets

CMC Markets is another broker that unfortunately doesn’t support MT5, and they also don’t allow you to trade with TradingView either.

However, if you don’t mind using MT4, or CMC’s proprietary software, there are a lot of things to like about CMC Markets.

CMC is CIRO-regulated, and is one of the biggest forex brokers in the world at the moment. They’re regulated in Australia, the UK, Germany, Singapore, New Zealand, and many other countries as well.

They have no minimum deposit, and no inactivity fees on forex accounts. Their spreads are very competitive, and they offer more than 300 different currency pairs to trade on – more than any other forex broker in Canada at the moment.

Not to mention, they also have a huge range of stocks and CFDs you can trade, in case you prefer to keep all your trading activity in one place for simplicity’s sake.

Overall, as long as you like the software options they have available, CMC Markets is definitely worth checking out. Click the link in the description to go to the CMC or Oanda websites to learn more about these two brokers and sign up for an account.

3. AvaTrade

AvaTrade is the one broker in this post you might not have seen mentioned before.

They’re a bit lesser-known than the likes of CMC or Oanda. However, they have been around for a long time – they were founded in 2006 and are CIRO-regulated in Canada. They also have regulator approval in Australia, South Africa, Ireland, Cyprus, and Japan, among other countries.

The best thing about AvaTrade is how beginner-friendly they are. In comparison to a lot of other Canadian forex brokers, their platform is very intuitive. They also provide a lot of resources for new traders, including videos and written guides to help you learn the ropes more quickly.

These resources are integrated into the AvaTrade platform, helping you learn how to do things like execute orders, set stop losses, and manage your open positions, as well as more advanced trading techniques.

The other reason you might like to choose AvaTrade is it’s very easy to set up an account. Continuing with the theme of being beginner-friendly, it’s a fast process to get started, and you can normally begin trading more quickly than you can with some of the bigger brokers.

Unfortunately, you can’t use TradingView with this broker at the moment. Also, there is a significant downside to AvaTrade for more advanced traders – the number of currency pairs they have available to trade at the moment. Currently, they only have around 60 pairs to trade from, compared to the 80 to 90 most other brokers have. In saying that though, all of the important pairs such as EUR/USD, USD/CAD, and GBP/USD are available to trade.

4. Forex.com

Forex.com is a bit similar to Oanda.

They’re another large, well-established broker, regulated in Canada, with a large number of currency pairs you can trade. Both companies also offer good customer service and should assign you an account manager if you have a large account.

The difference is, forex.com is not a market maker, unlike Oanda. Their spreads can be a bit higher sometimes, but they offer commission accounts, which you might find useful depending on your trading style.

There are some other downsides to forex.com though. They have a $100 minimum deposit and only offer a maximum leverage of 30 to 1, which is a bit lower than some of the other brokers in this post.

5. FXCM

The last broker we’ve looked at on this list is FXCM.

The biggest strength of FXCM is their customer service. They’re sort of similar to Oanda, in that their customer support is a bit more knowledgeable and helpful compared to some other brokers on the market.

Apart from that, FXCM is a well-regulated, large forex broker, licensed by CIRO, as well as the Australian, British, and South African market regulators. They have a large number of funding methods available, except for PayPal unfortunately, but only have a $50 minimum deposit, instead of the $100 most other brokers set.

The downside to FXCM is they only have 42 different currency pairs available to trade at the moment. Also, they don’t support cTrader or MetaTrader 5, although you can use MT4 or TradingView to make trades with this broker.

Conclusion

So, which Canadian-regulated forex broker is the best choice for you? It depends a bit on what you’re looking for and the type of trading you do.

For some people, Oanda might be a really good all-around choice. They offer low spreads, good customer service, and fast execution speeds. Plus, it’s really easy to get started with them.

AvaTrade can be a good choice for beginners, thanks to the range of different tools and resources they provide for new traders. And CMC Markets is also worth looking at, thanks to the number of currency pairs they have available, especially if you want to consolidate all of your trading activity into a single brokerage.

Remember, click the links in the description to each of these five brokers to open an account and see what they’re like to use. If you have any questions about choosing a forex broker as a Canadian resident, leave us a comment below, and we’ll respond as soon as possible.

Mark

Hi, I’m Mark! I’ve been trading forex for nearly 10 years now, and I started this site to help others navigate the sometimes confusing world of brokers, spreads, and trading platforms. I’ve spent countless hours testing different brokers, comparing fees, and figuring out which companies in this industry actually deliver on their promises.

When I’m not trading, I enjoy hiking, trying out new coffee spots, and tinkering with automated trading strategies (some successful, some… not so much). My goal is to make forex trading less overwhelming and help you find the right broker or platform to fit your trading style.