Note: Do not take this as a recommendation or financial advice. Do your due diligence and decide which broker you will use!

Forex Brokers that We Use

Broker Regulator EURUSD Spread & Commission Pros Cons Rating Open Account
BlackBull Markets Broker Logo FMA, FSA 0.8 pips + $0/Lot commission
  • Not regulated in EU
10/10
Read review
Open Account
Global Prime Logo ASIC, VFSC from 0.9 pips +$3.5/Lot commission
  • Competitive spreads and low commissions
  • Wide range of trading instruments
  • Fast execution speeds from as low as 10ms
  • Does not accept US clients
10/10 Open Account
EightCap Logo SCB, AFSL, FCA, CySEC 0.1 pips + $1/Lot commission
  • Competitive spreads
  • Fast execution
  • Diverse instruments
  • Limited research tools
10/10
Read review
Open Account
Darwinex Logo FCA, CNMV 0.1 pips +$6/Lot commission
  • NО Trading Restrictions (No Max DD, No Monthly Target)
  • Monthly Darwinex Seed Capital Allocation up to 350k
  • NO Limit Investors Capital
  • Profit Split is 15%
10/10
Read review
Open Account

Cryptocurrency Exchanges & Wallets

Broker Regulation Users Traded Country Rating Register
Binance
Binance cryptocurrency exchange
United States Financial Crimes Enforcement Network 100M+ $500B+ Malta 10/10
Read review
Pay 10% fewer commissions
Crypto.com
Crypto.com cryptocurrency exchange
Class 3 VFA License 10M+ $30B+ China 9/10
Read review
Get $25 with staking
Coinbase
Coinbase Cryptocurrency exchange
NY BitLicense 30M+ $150B+ USA 9/10
Read review
Get $10 of BTC
Ledger
Ledger wallet
The safest wallet to store cryptocurrencies Read review Buy from the official website

More Regulated Brokers

Broker Regulator EURUSD Spread & Commission Pros Cons Rating Open Account
FP Markets Logo FSCA, FSA, ASIC, CySEC 0.1 pips + $0/Lot commission
  • Leverage 500:1 in FSA, 1:30 CySEC
  • Customer support 24/7 (multiple languages)
  • MT4, MT5, cTrader, TradingView
  • Copy Trading system
  • Higher CFD fees on some stocks
10/10
Read review
Open Account
Fxview Logo FSCA, CySEC, FSC 0.1 pips + $1/Lot commission
  • Strongly Regulated Broker
  • Wide range of assets
  • Multiple platforms
  • Limited account options
10/10
Read review
Open Account
Tickmill
Tickmill Logo
CySEC, FCA, BaFin, ACPR, CONSOB, CNVM 0.1pips + $2/Lot commission
  • Top-tear Regulators
  • Investors Protection in the UK (£85k) and in the EU(€20k)
  • Fast account opening with free deposit and withdrawal
  • Few account base currencies
10/10
Read review
Open EU Account
Open Global Account
ActiveTrades
ActiveTrades Logo
FCA, CONSOB, CSSF, CMVM, SCB, CVM 0.5 pips + $0/Lot commission
  • No minimum first-time deposit
  • More than 1000 CFDs
  • Leverage 1:200
  • Limited Countries
10/10
Read review
Open Account
HYCM
HYCM Logo
FCA, CySEC, CIMA, DIFC 1.2 pips + $0/Lot commission
  • Around since 1977
  • 100 Financial instruments to trade
  • Low minimum deposit
  • Limited account options
10/10
Read review
Open Account
Oanda
Oanda Logo
NFA, CFTC, FCA, ASIC 0.8 pips + $0/Lot commission
  • Accepts US Citizens
  • No commissions on Forex trades
  • Quick and user-friendly account opening
  • Only for US Traders
10/10
Read review
Open Account
XM
XM Broker Logo
CySEC, ASIC, FSC 0.1 pips + $7/Lot commission
  • Tight spreads starting from 0 pips
  • Bonuses for Real account
  • Differet Account types
  • Fee for inactive accounts
10/10
Read review
Open Account
ForexVox
ForexVox Broker Logo
FCA, FSA <1.0 pips – Low Spreads without commission for our traders (use the Open Account button to qualify)
  • Zero Starting Deposit
  • Chat Rooms for Traders
  • Offers good education
  • Open a live account with ForexVox, fund it, and get any of our courses free. The broker will sponsor the education.
  • It doesn’t allow CFDs on Cryptos
9/10
Read review
Open Account
Pepperstone
Pepperstone Broker Logo
ASIC, FCA, Tier-1 & Tier-2 1.0 pips + $7/Lot commission
  • Strict Regulations
  • Lowest Spreads for Crypto
  • Great support for the traders
  • High trading requirements for Premium Clients
8/10
Read review
Open Account
AAAFx
AAAFx Broker Logo
HCMC, FSCA 0.0 pips + $0.99/lot commission
  • Offers FX, Indices, Commodities, Stocks and Cryptocurrencies
  • Global leverage of up to 500x
  • Negative balance protection
  • Lack of educational videos
8/10
Read review
Open Account
EasyMarkets
FX Choice Broker Logo
ASIC, CySEC, MIFID 0.7 pips + 0 commission
  • Segregates Client’s money
  • Guaranteed Stop Loss
  • Many Platforms: MT4, MT5, TradingView, EasyMarkets Platform
  • Only US Dollar and Euro as base currency
8/10
Read review
Open Account
Dukascopy
Dukascopy Broker Logo
FINMA, FCMC, JFSA <1.0 pips + $3.5 commission
  • Facilitate Automated trading with JForex platform and MT4
  • Wide range of market research tools, advanced charting, and promotions
  • Reliable Historical Data
  • Restricted leverage
7/10
Read review
Open Account
HotForex
Hot Forex Broker Logo
CySEC, DFSA,
FCA, FSA,
FSC, FSCA
1.1 pips + $6/Lot commission
  • Variety of contests and bonuses
  • CFDs for BTC, ETH, LTC, XRP
  • +1000 different assets
  • Only Forex and CFDs
7/10
Read review
Open Account

Regulations

It is essential to use a regulated Forex broker. The most popular regulatory bodies are CFTC & NFA in the USA, FCA or FSA in the UK, CySEC in Cyprus.

Low Costs

Even if you have a profitable strategy, you won’t make money if you pay high costs to the broker. Having low spread, commission, and swap for your trading is vital.

Reviews

Honest and informed reviews are critical when selecting your Forex broker. Reviews are a reflection of how Forex brokers treat their clients.

Why did we select these brokers, exchanges, and wallets?

At Trading Academy, we always select trusted Forex Brokers to make things easier for our students and traders. We were asked many times in the forum to create a page with trusted brokers, and here it is.

By doing this, beginner traders can more confidently select a regulated and trusted broker and stay away from scam brokers. Please share your reviews for the listed Trusted Forex brokers so everyone can benefit.

The trusted Forex brokers are tested by Trading Academy and many of our students and traders. Please share your good or bad experience with the community, and we’ll do the same.

More tips when choosing a Forex broker

Open a Demo account and a Live account. Don’t fund it. Perform a backtest to check if the results are the same. This will prove to you if the broker provides the same quotes on their Demo and Live accounts. If not, testing on the Demo account won’t give you an accurate assessment of live trading results.

When opening a live account, fund it with the smallest amount possible. Perform some trading and withdraw cash to ensure there are no issues with this process.

If you are going to trade with Expert Advisors, it is best to test the Live account with many EAs trading with 0.01 lots. Simultaneously, test the same EAs on a Demo account. Compare your results to ensure they are very similar.

Try not to depend on one broker. It is good to have accounts with a few brokers. This way, you can quickly move from one to another if needed. In addition, you will have access to Historical data from a few servers, and you will be able to compare results.

Always stay highly cautious with the brokers. Even the ones that appear to be acting appropriately and fairly currently. They could change their operating practices quite quickly.

EA Trading Academy may receive a small referral fee if you use any of the brokers listed above. The generated funds will be invested back into the academy to purchase better equipment so we can provide you, our students, with an even better education experience.

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