is committed to the highest ethical standards and reviews services independently. Learn How We Make Money Review

Steven Hatzakis

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer

April 16, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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. is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.

Though it’s not a discount broker unless you trade larger volumes,’s multi-asset offering will appeal to forex traders of all experience levels.
5/5 Stars Overall
  • Minimum Deposit: $100
  • Trust Score: 99
  • Tradeable Symbols (Total): 5500

travel_explore Can I open an account with this broker?

Use our country selector tool to view available brokers in your country. pros & cons

thumb_up_off_alt Pros

  •'s parent company StoneX is publicly traded (NASDAQ: SNEX) and regulated in seven Tier-1 jurisdictions, one Tier-2 jurisdiction, and one Tier-4 jurisdiction.
  •'s Trading Academy won our 2024 Annual Award for #1 Interactive Educational Experience.
  • produces high-quality video content, including its Daily Market Update and Weekly Technical Outlook as well as short educational pieces covering niche topics (i.e., doji candlesticks) and videos covering technical and fundamental analysis.
  • With a wide range of markets available,'s multi-asset offering shines the most on its flagship Advanced Trading (desktop) and Web Trading (browser) platforms.
  • Web Trader features TradingView's advanced charting, which is fully integrated and conveniently accessible through the same username.
  • With’s acquisition of Chasing Returns, performance analytics are now available to live account holders for free.
  • MetaTrader 5 was recently launched and available to traders in the U.S. and Canada.

thumb_down_off_alt Cons

  • Only about 600 instruments are available on's MT4 platform, compared to over 5,500 on its non-MetaTrader platforms.
  • Outside of its RAW account and active trader pricing for high-volume traders,’s average spreads are a bit higher than the best low-cost forex brokers.

Overall summary

Overall Rating info 5/5 Stars
Trust Score info 99
Offering of Investments 5/5 Stars
Commissions & Fees 4.5/5 Stars
Platform & Tools 5/5 Stars
Research 4.5/5 Stars
Mobile Trading 5/5 Stars
Education 5/5 Stars has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.

Is safe?

Trust Score
99 is considered Highly Trusted, with an overall Trust Score of 99 out of 99.'s ultimate parent company, StoneX, is publicly traded, does not operate a bank, and is authorised by seven Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), Canadian Investment Regulatory Organization (CIRO), Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC) , and regulated in the European Union via the MiFID passporting system. Learn more about Trust Score or see where the different entities are regulated.

Year Founded info 1999
Publicly Traded (Listed) info Yes
Bank info No
Tier-1 Licenses info 7
Tier-2 Licenses info 1
Tier-3 Licenses info 0
Tier-4 Licenses info 1

Offering of investments

The products and services available to you at will depend on your location, and on which of its regulated entities holds your account. For example, while CFDs are not available in the U.S. due to regulatory issues, offers an impressive selection of over 4,500 CFDs for traders living outside of the U.S. offers CFDs for commodities and metals, though spot metals (like gold and silver) are unavailable to traders in the U.S. Also, knock-out options are now available at in Japan, Singapore, and Australia.

Cryptocurrency: Cryptocurrency trading is available at through CFDs, but not available through trading the underlying asset (e.g., buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.

The following table summarizes the different investment products available to clients.

Forex Trading (Spot or CFDs) info Yes
Tradeable Symbols (Total) info 5500
Forex Pairs (Total) info 91
U.S. Stock Trading (Non CFD) info No
Int'l Stock Trading (Non CFD) info No
Social Trading / Copy Trading info No
Cryptocurrency (Physical) info No
Cryptocurrency (Derivative) info Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Note: The products and services available to you will depend on your country of residence and the entity that holds your account, as well as any applicable regulatory guidelines. To verify the availability of any products or features within your country of residence, please contact the broker directly.

Commissions and fees offers multiple execution methods and account types ( is one of my top picks for market maker brokers), as well as transparent execution statistics. That said, our research found that is slightly expensive when compared to the industry average, unless you are trading outside of the US, where spreads averaged 0.74 for the EUR/USD in July 2023 (using a time-weighted average), whereas its Raw account spreads are lower but feature a per trade commission.

Standard account:’s Standard account is the only option available for MetaTrader clients – and would not be my ideal choice. Average spreads are high at 1.4 in the U.S. on the EUR/USD, based on typical spread data provided to us by (July 2023). The Standard account will appeal to traders who are willing to pay a premium (in the form of a higher spread) for the benefits of market-maker execution.

Active trading accounts: The DMA account was discontinued globally and has been replaced by the RAW account offering , which features typical spreads on the EUR/USD of 0.13 pips (calculated using data collected in February 2024). RAW accounts are commission-based and are eligible for active trader discounts on’s proprietary Advanced Trading platform suite, with low competitive spreads nearing zero before commission.

  • Very high volume active traders that turn over more than $2 billion per month (Tier Six) would realize effective spreads comparable to what IC Markets or Tickmill offer.

RAW Spread account:’s recently launched RAW Spread account delivers commission-based pricing (similar to its STP account) and volume-based rebates for active traders. The RAW account (along with MetaTrader 5) is now available to’s clients in Canada and the U.S. Learn more about forex trading in Canada by checking out our Canada forex guide.

  • There are six volume tiers with rebates ranging from $2 per million at the base tier to $9 per million at the highest tier (level five).
  • The base commission for the lowest tier on the Raw account is $7 per Standard lot ($3.5 per side), which adds about 0.7 to the typical spreads of 0.13 pips for the EUR/USD (based on February 2024 spread data).
  • Bottom line: unless you trade more than $50 million per month, the all-in costs for’s Commission account are practically the same as the Standard account for U.S. residents, the only differences being execution method and available platforms.

Note:'s spread-only and RAW accounts are the only available account types for clients in the U.S.

Minimum Deposit info $100
Average Spread EUR/USD - Standard info 1.4 info
All-in Cost EUR/USD - Active info 0.83 info
Active Trader or VIP Discounts info Yes
ACH or SEPA Transfers info Yes
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info No
Visa/Mastercard (Credit/Debit) info Yes
Bank Wire (Deposit/Withdraw) info Yes

Mobile trading apps

Overall,’s mobile offering competes among the best brokers in the industry.

Apps overview: offers its proprietary mobile app alongside the full suite of MetaTrader mobile apps, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Ease of use: Trading and managing positions within’s mobile app is easy and straightforward, thanks to its fluid user interface and minimalist design. Highlights include an economic calendar, an integrated suite of modules from Trading Central, alerts, market updates, and news headlines from Reuters. The app also supports complex order types such as OCOs, trailing-stops, and a "close all" button which allows traders to exit multiple positions quickly for a given instrument.

Charting: The app automatically syncs watchlists, and includes easy-to-use charts powered by TradingView that feature over 80 indicators and a vast array of drawing tools. Your chart settings won’t sync automatically with the web version, but I found the "load chart layout" function can be used to manually load your saved templates.

Android App info Yes
Apple iOS App info Yes
Mobile Alerts - Basic Fields info Yes
Watchlists - Total Fields info 20
Watchlist Syncing info Yes
Charting - Indicators / Studies (Total) info 88
Charting - Drawing Tools (Total) info 239
Mobile Charting - Draw Trendlines info Yes
Mobile Charting - Multiple Time Frames info Yes
Mobile Economic Calendar info Yes

Other trading platforms goes above and beyond to provide forex traders with everything they need to trade effectively.'s platform suite has historically been – and continues to be – robust.

Platforms overview: provides its own flagship Advanced Trading (desktop) and Web Trading platforms, alongside TradingView, the full MetaTrader suite (MT4 and MT5), and NinjaTrader.

Charting:'s flagship desktop platform, Advanced Trading, is best suited for seasoned traders and comes with a robust charting package loaded with a large selection of over 200 technical indicators (this number includes automated strategies that are indicator-based), as well as drawing tools and over a hundred predefined automated strategies.

That said, charts on the desktop platform are not as smooth as its Web Trading web platform counterpart, which features charts powered by TradingView. TradingView is adored by technical analysis enthusiasts for its powerful charting capabilities; learn more by checking out our TradingView guide.

Web trading: Best suited for casual traders,'s Web Trading platform makes browsing through markets, conducting research, and placing trades a breeze. Charts are powered by TradingView, and come loaded with nearly 100 indicators, 14 timeframes, and ten chart types.

The Advanced Trading platform features advanced order types, deep customization, and plenty of subtle-but-useful features – such as the ability to set price tolerance from within the trade ticket. I found the layout well-designed, easy to use, and rich with features. For the sake of comparison, I found the Advanced Trading platform similar to FXCM's own impressive proprietary platform.

Trading Analytics: The PlayMaker module, part of's Trading Analytics suite of tools (formerly known as Chasing Returns) stands out for its innovative approach to helping traders manage their risk, and helped win our award for #1 Risk Management Tool in 2024.

Virtual Trading (Demo) info Yes
Proprietary Platform info Yes
Desktop Platform (Windows) info Yes
Web Platform info Yes
Social Trading / Copy Trading info No
MetaTrader 4 (MT4) info Yes
MetaTrader 5 (MT5) info Yes
DupliTrade info No
ZuluTrade info No
Charting - Indicators / Studies (Total) info 88
Charting - Drawing Tools (Total) info 239
Charting - Trade From Chart info Yes
Watchlists - Total Fields info 20
View More

Market research does a great job of centralizing its research within the Advanced Trading platform and keeping it organized for easy accessibility. The only downside to’s research offering is the low quantity of available video content, although the amount of available content continues to improve each year.

Research overview: Multiple news channels, automated pattern-recognition modules from Trading Central, and blog updates from's global research team are all available within the Web Trading platform. Headlines stream from Reuters and a Trading Central-powered economic calendar is integrated across the site and platforms.

Market news and analysis: produces a variety of good-quality written content each day, covering multiple markets and sector themes. Content includes weekly posts such as its "Week Ahead" series, daily articles produced by’s in-house analysts, as well as integrated resources from third-party providers. For example, research tools powered by Trading Central are directly integrated throughout its suite of platforms, such as its popular Market Buzz, Technical Insight, and Analyst Views modules.

Video content: Market-based research in video format continues to improve at For example, features daily market updates as well as a weekly video on the broker's YouTube channel. I'd love to see expand this coverage with additional video series.

Daily Market Commentary info Yes
Forex News (Top-Tier Sources) info Yes
Autochartist info No
Trading Central (Recognia) info Yes
Social Sentiment - Currency Pairs info Yes

Education offers nearly a hundred written articles that are conveniently organized by experience level, with content for beginner, intermediate, and advanced users. Overall, I found these articles to be high-quality.

Learning center: In addition to the dozens of platform tutorials available on its YouTube channel, also made significant progress in the education category with the launch of its Trading Academy, which won our 2024 Annual Award for #1 Interactive Educational Experience. I found the graphics and accompanying information within's interactive courses to be incredibly detailed and highly informative. The Trading Academy courses include progress tracking, quizzes, and other interactive features that make the learning experience fun.

Video production has also improved year over year with the addition of new educational videos, including dedicated playlists for Technical Analysis, Mindset, and general Education, on's YouTube channel.

Education (Forex or CFDs) info Yes
Client Webinars info Yes
Client Webinars (Archived) info Yes
Videos - Beginner Trading Videos info Yes
Videos - Advanced Trading Videos info No
Investor Dictionary (Glossary) info Yes

Final thoughts is a trusted forex broker that shines thanks to its extensive product offering, excellent platform options and trading tools, and its selection of in-house and third-party market research.

That being said, pricing is not its strongest feature, and there is an opportunity for more video content across research and education categories. Still, still delivers a great experience to forex traders of all experience levels.

What is the minimum deposit for

For the Standard and Commission accounts, the minimum deposit at is generally $100 (or the equivalent in your local base currency) when funding with Neteller, Skrill or a credit or debit card, while the DMA account requires $25,000. There is no minimum per transaction when funding via wire, though recommends at least $1,000 for all accounts besides the DMA account.

Does charge a fee?

Like every forex broker, charges a fee when you trade – either in the form of a commission fee or spread fee. offers commission-based accounts and a spread-only Standard account. There may also be fees when you deposit or withdraw funds – depending on your payment method. doesn’t charge any fees for incoming deposits – though your bank may charge you depending on the method used (i.e., when sending a wire).

Is a good broker for beginners? is a well-rounded broker that scores highly in nearly all categories, and is a good broker for beginners thanks to its wide range of educational content, quality market research, and the ease-of-use factor across all of its platforms. For example, its straightforward web platform delivers a good variety of both basic and advanced features, including risk-management tools and robust charts, making it a good choice if you are a less-experienced trader looking to develop your trading skills.


Founded in 1999, is a GAIN Capital brand under the parent company of StoneX Group (NASDAQ: SNEX), a Fortune 100 company and a member of the National Futures Association (NFA) in the U.S. StoneX holds $7.8 billion in assets as of its latest annual report for 2023, employing over 4,000 staff and servicing more than 400,000 retail clients across 180 countries. Through its trading names and subsidiaries, including the City Index brand, Gain Capital operates in multiple countries and with licenses in several major regulatory hubs, including the U.S., U.K., Canada, Japan, and Australia.

With over $7.8 billion in client assets and over 4,000 staff, StoneX group entities traded over $4.4 trillion in volume in 2023, as of its latest annual report for that year. As an early pioneer in offering online forex trading in the U.S., remains one of the largest retail FX brokers globally. Read more on Wikipedia. 2024 Annual Awards

For the 2024 Annual Awards, brokers were evaluated against’s 8 Primary Categories: Commissions & Fees, Offering of Investments, Platforms & Tools, Mobile Trading Apps, Research, Education, Trust Score, and Overall.

Best in Class honors were awarded to the Top 7 forex brokers in each of the following areas: Beginners, Social Copy Trading, Ease of Use, MetaTrader, Algo Trading, Crypto Trading, and Professional Trading. also recognized brokers that demonstrated excellence and innovation with our exclusive Industry Awards.

Category awards Overall [Dynamic] Platforms & Tools Mobile Trading Apps Education MetaTrader Professional Trading Trust Score
Rank #1
Streak #1
Best in Class check check check check check check check
Best in Class Streak 3 2 4 1 1 2 3

Industry awards #1 Risk Management Tool #1 Interactive Educational Experience
Rank #1 check check
Streak 1 1

2024 Review Methodology

At, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.

Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.

All content on is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more.

Read our full explanation and accounting of our research and testing process to 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. Read more on forex trading risks.

Article Resources Regulation YouTube channel

Popular Forex Guides

More Forex Guides

Popular Forex Broker Reviews

Compare Competitors

Select one or more of these brokers to compare against

Compare Brokers
Show all unfold_more

About the Editorial Team

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

John Bringans
John Bringans

John Bringans is the Senior Editor of An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

Blain Reinkensmeyer
Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.