Best 15 Forex Brokers For Beginner And High-Leverage Traders in 2021

eToro is one of the best options for forex traders who want a do-it-all platform. The broker offers over 45 currency pairs to trade as CFDs and allows you to trade with leverage up to 30:1 on major forex pairs. Trading is 100% commission-free and eToro has very competitive CFD spreads.

We also like eToro because of the research tools it offers. The platform serves as a social network where you can follow other traders and start discussions or even copy their portfolios. It also has a built-in charting software and news feed. The only drawback to eToro is that the charts aren’t overly advanced, so you won’t be able to develop custom indicators or backtest strategies with this platform.

eToro is regulated by the UK’s Financial Conduct Authority (FCA) and is widely regarded as trustworthy. So, you can feel safe trading CFDs with this broker.

Founded in Israel over a decade ago, Plus500 has earned a spot for itself on the list due to its technological innovations, consistency and global mission which have led to its expansion. Today, the broker is listed on the London Stock Exchange and it is also part of the UK FTSE 250. It boasts of over 300,000 clients from all over the world.

Plus500 is regulated in the following jurisdictions:

• Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority FCA(#509909).
• Plus500CY Ltd is authorized and regulated by CySEC (#250/14).
• Plus500AU Pty Ltd (ACN 153301681), is licensed by: ASIC in Australia, AFSL #417727

The company employs the use of modern security best practices to secure user information and create a safe trading environment. The proprietary Plus500 trading platform is available as a WebTrader, and also as mobile apps on Android, Windows phones and iOS mobile devices. The platform is simple, innovative and loaded with analytical tools. It features real-time SMS and email alerts based on price movement earlier customized by the trader. Although user friendly, It is worth noting that Plus500 platform is suitable for experienced traders only.

Traders here can trade CFDs on underlying financial instruments such as currency pairs, commodities, ETFs, Options, and shares. The EU offering of Plus500 provides maximum leverage is 1:30 for retail traders while professional traders get up to 1:300. The spreads are tight and no commissions are charged on trades.

Forex.com is a broker that promises to earn traders’ loyalty by delivering an extraordinary trading experience with superior execution and low trading costs. Since 2001, the broker has grown in technology, strength, and excellence. Today, Forex.com is one of the leading brokers in the United States and the world at large.

Forex.com is an arm of Gain Capital Holdings Inc; a financial investment firm with headquarters in New Jersey, USA and a global presence that spans across Asia, Europe, and North America. Gain Capital Holdings Inc. is publicly traded in the New York Stock Exchange (NYSE: GAP). Forex.com is a registered Futures Commission Merchant (FCM) and RFED with the CFTC. It is also a member of the NFA.

Over 80 currency pairs, metals and futures options can be traded on the platforms.

The Advanced Trading, web trading, MT4, and the forex.com mobile are the trading platforms provided. The platforms are sophisticated, technological and replete with useful trader tools. Forex.com also has a plugin that improves the features of the MT4 platform by adding more useful tools like a market manager, correlation matrix, alarm manager, etc. The broker also provides market analysis and an organized education center with lessons categorized for beginners, intermediate and advanced traders. Forex.com is indeed one of the leading forex brokers of 2021.

Trade Nation is a global forex broker established in 2014. The broker has a selection of 30 currency pairs, including all of the major and minor pairs. You can also trade CFDs for shares, ETFs, commodities, and more with this platform.

One of the key elements that sets Trade Nation apart from other forex brokers is the suite of risk management tools built into its custom trading platform. With the Trade Nation platform, you can easily add trailing stop losses or open countering trades to hedge your position. The broker also provides negative balance protection, so you can never lose more money than you deposited into your account when trading with leverage.

Trade Nation also stands out for its low fixed spreads. Trading the EUR/USD currency pair costs just 0.6 pips and the GBP/USD pair costs just 0.8 pips. The platform doesn’t have deposit, withdrawal, or inactivity fees, and there’s no minimum deposit required to open an account. With a standard account, you can trade on margin up to 30:1.

Trade Nation is regulated by the FCA in the UK, ASIC in Australia, and the Financial Sector Conduct Authority (FSCA) in South Africa. The broker offers customer support by phone and email if you need help with your account.

Cryptorocket sets itself apart from other CFD brokerages available today because it is blockchain-based. It also presents you with one the highest trading leverages of up to 1:500. The cryptocurrency based exchange also embraces Straight Through Processing (STP), ensuring you trade directly against the market participants.

Unlike most other brokerages that have several types of trading accounts, however, Cryptorocket maintains one trader account.

The account creation process if relatively fast. And you get to trade a huge variety of CFDs that include over 30 Cryptocurrency and token pairs and dozens of forex CFDs.

What we like most about opening an account with the broker is the fact there is no minimum initial deposit required to open a cryptorocket account. As you open an account with the broker keep in mind that the account has its base currency expressed in BTC. In addition, you get to trade within their proprietary trading platform or the advanced MT4 trading platform.

AvaTrade is multiple award-winning brokers with a presence across the globe. Regulated across six jurisdictions, AvaTrade has proved itself to be a reliable and reputable broker, hence qualifying as one of our top brokers for 2021. The broker was established in 2006 and the headquarters is in Dublin, Ireland. The tradable instruments available are currency pairs, cryptocurrencies, ETFs, commodities, indices, stock, and bonds.

AvaTradeGO is the broker’s proprietary mobile app that is simple yet sophisticated enough to handle all the essential needs of a trader. The MT4 platform is also available. The Guardian Angel is a customizable trade assistant designed for a beginner or advanced traders. It is an MT4 plugin that alerts the trader on predetermined conditions such as excessive risk, setting a stop-loss, trading volatility, market conditions, etc. The Autochartist tool is also provided for the MT4 platform.

ZuluTrade, the renowned social trading platform is available through this broker. Clients can copy the trades of expert traders and make profits. Duplitrade; another social trading platform is also available. The broker also provides trader education via ‘SharpTrader’ which provides training videos and articles for registered clients. AvaTrade boast of 200,000 traders with over 2million monthly trades.

24Option was launched in Cyprus in the year 2010 as a binary options brokerage. It had to shut down binary options operations as an EU-wide ban loomed, choosing instead to focus solely on forex/CFD brokerage. The international arm operates from Belize while the European arm operates from Cyprus. They are regulated by the IFSC and CySEC respectively.

The web-based 24Option proprietary platform is intuitive, powerful and packed with trading aids and tools. The popular MT4 platform is also provided. The 24Option mobile app is developed for Android and iPhones and can be downloaded from their respective stores. There are over 120 tradable assets which include forex, commodities, indices, cryptocurrencies and stock shares. 24option has partnered with “Trading Central”, to bring its customers quality market analysis reports, news about the best Forex signals, etc. Trading Central is a financial market research firm that specializes in analysis, strategies, information, and advice on financial assets and investments.

The broker provides training resources and frequently organizes seminars to equip traders with the knowledge to make them more successful. By offering quality services, intuitive platforms and cutting edge technologies, 24option made its way into the list of top brokers in 2021.

IG is a well known brand in the industry. Established in the UK in 1974, IG provides its services to over 195,000 clients from all over the world. IG is the trading name of IG US LLC which is registered in Delaware with registration number 6570306. IG is a registered Retail Foreign Exchange Dealer (RFED) and Introducing Broker (IB) with the Commodities Futures Trading Commission (CFTC) and member of the National Futures Association (NFA) with the ID 0509630.

The IG Forex broker provides over 80 currency pairs tradable on the MT4 platform, WebTrader and on various mobile devices. IG provides educational courses and a demo account in order to help beginner traders jumpstart their trading career. The provided MT4 platform comes with add-ons such as the Autochartist tool which scans the market and alerts the trader when it finds trading opportunities. A plugin that extends the features of the MT4 is also provided at no extra cost. The plugin adds over 12 extra tools to the MT4 platform.

Daily analysis, market news, and other trader tools are equally provided through DailyFX, which is owned by IG. With the myriad of technological tools, experience, and integrity, IG is one of the top brokers in the United States and the world in general.

PaxForex stands out with their non-discriminative and high leverage of 1:500. This is now available to all types of trading accounts availed by the acclaimed broker. In addition to the high leverage, there are several other reasons PaxForex tops our list of high leverage brokers. And we are especially drawn in by the fact that they maintain over five types of trading accounts. They also expose you to more than 20 trading pairs and maintains a highly affordable minimum deposit of $10.

It also is compatible with the all-popular desktop and Mobile versions of the MetaTrader (MT4) platforms. Note that this attractive leverage is, however, capped at the CFTC recommended 1:50 ratio for their U.S. clients.

AvaTrade has an established presence in over 150 countries around the world. It is thus operated under the strict guidance of all major financial regulatory agencies in Europe, Canada, Japan, and Australia. This, plus the fact that it offers highly attractive leverages of up to 1:400 makes it a preferred broker for most international traders. Apart from the leverage, you will also be interested to note that the broker runs one of the most advanced and user-friendly trading platforms.

Some key features availed by the broker include a professional in-house trading software, Forex APIs, and lucrative trading strategies – all of which are available freely on the site. Plus the broker is also one of the few that provides you with adjustable trading algorithms and Forex trading APIs that let you automate your trades from scratch.

CryptoRocket stands out from the competition in the industry because of its attractive leverage of up to 1:500. But we also like it because of its zero-fee policy on deposits. But these aren't the only reasons the broker makes it here.

Other unique features that drew us to the Forex CFD trader include the fact that it exposes you to over 55 Forex trading pairs. Plus their ultra-tight spreads and the highly advanced trading platform are available in both the web trader, P.C., and mobile apps.

Eagle F.X. appeals most to experienced traders looking for an advanced platform that gives them access to huge investment opportunities and attractive leverage. The broker exposes you to over 53 forex trading pairs (including all the major currencies). And these can be executed with leverage of 1:500.

Beginner traders looking to gain a deeper understanding of the Forex market can do so within the Eagle Fx demo account. It is free and has no limit to the amount of time or virtual currency you can spend there. Others factors that make it stand out from the competition, despite being a few months old, include its zero-fee approach to deposits and withdrawals. Plus the fact that you only need $10 to open a real trading account.

X.M. Global ranks highly on the list of the most reputable online trading brokerages. Here, traders are treated to highly attractive leverages of 1:888. Not to mention that they also offer one the broadest list of trading pairs and other financial investment products. And these can be executed within one of their several retail client trading accounts that cater to both the beginner and expert traders.

Note, however, that the 1:888 leverage is only available to international traders operating outside the U.S. and Europe. X.M. isn't available in the United States but operates through a Proxy - XM-UK in Europe. And in this FCA controlled financial district, leverage is capped at 1:30. In addition, traders are treated to ultra-tight spreads of as low as 0.6 pips for all the major trading pairs. You might also be interested to note that all X.M. trading platforms are expert advisory friendly. You will also be treated to 50%+20% bonus on your initial deposit upon verifying your trading account.

InstaForex is headquartered in Russia, making it one of the few most successful brokerages in Eastern Europe. It stands out because of its support for huge leverage that currently stands at 1:1000, and an equally large number of currency trading pairs – including all the major currencies.

Others factors ensuring InstaForex makes it to the list of the reputable high leverage brokerages include its near-instant customer support services. Plus a wide range of technical analysis tools on an elaborate trading platform. Here, a client is also free to maintain up to three different trading accounts.

FBS maintains the highest leverage in the global forex trading industry – currently set at 1:3000. It also is one of the most versatile brokers we have come across with a unique approach to the industry. It also has a long list of trading account types, and each is specially designed to suit a particular class of traders. The most popular account type is the micro-lot trading (CENT) account for beginners, and the high-volume (ECN) account for scalpers.

The broker further takes pride in hosting a huge collection of trading tools as well as highly effective automated trading systems. More importantly, forex transactions are commission-free while spreads range from 0.0 pips for the Zero-Spread trading account to 3.0 pips for least popular forex pairs.

On paper, OctaFX has its leverage set at 1:500 for MT4 platform traders and 1:200 for the MT5 traders. And in a world where major Forex hubs are constantly coming up with regulations that seek to shrink leverages further, we consider this high and attractive. However, OctaFX is regularly holding promotions that allow traders from different parts of the world to adjust this leverage upwards manually.

In most cases, MT4 traders leverage moves from the standard 1:500 to 1:1000 while leverage for MT5 trades moves from 1:200 to 1:500. In addition to this, we liked the superior social trading feature on their website that supports copy trading for beginners. Plus the fact that the broker also operates the one-click trading feature that guarantees fast trade execution speeds.

NordFX also features on our list of high leverage brokers majorly because of its high leverage of 1:1000. But we are also impressed by the level of technology the broker has integrated into their trading platform.

This is evidenced by the fact that Nord FX runs one of the most advanced trading platforms with sophisticated analysis tools, indicators, and trading strategies. It also takes pride in having one of the fastest payment processing systems that have resulted in minimal complaints.