27 Best Regulated Forex Brokers

27 Best Forex Regulated Brokers

27 Best Forex Regulated Brokers

According to research in South Africa, we are now going to be looking at some of the best forex regulated brokers that could help you start your trading career. No matter where you are in the world, this list should have a broker that will suite your needs, beginners or veteran traders alike.

We will be looking at brokers who are regulated from various countries around the world, their pros and cons as well as their fees and commissions.

Here are the best Regulated Forex Brokers for you to make an informed decision:

So, lets get started.

 

Alpari Review

 

Alpari

One of the largest and most experienced Forex brokers around, Alpari was founded in 1998 in Russia. Alpari offers a variety of services for modern day internet trading with over a million clients from 150 different countries. Alpari’s trading consists of Forex currency pairs, spot metals, CFDs along with cryptocurrency trading and binary options. Alpari also uses automatic ECN technology which connects Alpari’s severs to the ECN which means trader’s orders are at market price.

Pros and Cons

ProsCons
Wide range of trading accountsLimited trader education
Access Forex ECN with 1:1000 leverageNon-existent research tools
Trade on MetaTrader 4 and 5 on mobile and Desktop 
Access the Alpari copy trading programme 

Fees and Commission

Minimum Initial deposit to start trading$5
Average spread EUR/USD – activeFrom 1.7
Average spread EUR/USD – standardFrom 1.2
VIP or active trader discountsFrom 0.4

FXTM Review

FXTM

FXTM otherwise known as Forex Time company was launch back in 2011 and has its headquarters located in Cyprus. It was renowned for being one of the world’s fastest growing and best forex brokers. FXTM is well established, with reliable treading conditions and detailed training and education and has accessible trading around the world, regardless of the trader’s knowledge.

Pros and cons

ProsCons
Excellent customer serviceHigh stock CFD fees
Great educational toolsInactivity and withdrawal fees
Digital and quick account openingLimited product portfolio

Fees and commission

Minimum Initial deposit to start trading$500
Average spread EUR/USD – active0.6 pip spread cost
Average spread EUR/USD – standard0.6 standard pip spread cost
VIP or active trader discountsCharges commission with lower spread cost
FP Markets Review

 

FP Markets

Offering and operating professional trading experiences for a very long time since its establishment in 2005. FP Markets serves over 12,000 clients around the world. It is also connected to the market through electronic bridges and enhanced DMA pricing models. This Australian brokerage company provides access to trade 13,000 products varying from Forex, Indices, Commodities, Metals, Bitcoin and Equity CFDs that offer competitive spreads and very flexible leverage.

Pros and cons

ProsCons
Low forex feesHigh stock CFD fees
Easy and fast account openingLimited product portfolio
Quick deposit and withdrawalOutdated web and desktop platform

 

Fees and commission

Minimum Initial deposit to start trading$100
Average spread EUR/USD – active0.45 pip spread cost
Average spread EUR/USD – standard0.45 standard pip spread cost
VIP or active trader discountsMarkets base rate + 3.0%
XM.com Review

 

XM

XM began its broker journey in 2009 and is currently operating with clients from over 196 countries, customer support staff speak in 30 different languages and it is in the group of one of the most trusted regulated brokers. XM’s headquarters is located in Cyprus, with over 1.5 million traders and investors using XM’s wide range of trading products. XM’s goal is to provide one of the best user experiences in the industry to its clients.

Pros and cons

ProsCons
Low CFD and withdrawal feesOnly CFDs, forex, cryptos for Europeans
Easy and fast account openingAverage forex fees
Great educational toolsInactivity fee

 

Fees and commissions

Minimum Initial deposit to start trading$5
Average spread EUR/USD – activeFees are built into spread, 2.6 average spread cost
Average spread EUR/USD – standardStandard fees are built into spread, 1.7 pips
VIP or active trader discountsXM ultra no commission and the spread is lower

OctaFX Review South Africa

OctaFX

A technology-based company, specialising in brokerage that has been in operation since 2011 and offers industry leading platforms such as the renowned MetaTrader 5 and cTrader platforms, with a huge variety of investment opportunities and fantastic capabilities. With high standards of secure trading environments as one of the regulations it enforces, OCTA FX’s brokerage stands at good reputation among years of operations and regulatory obligations.

Pros and cons

ProsCons
Wide range of trading accounts for beginners and advanced tradersLimited commodity markets, no individual Stock CFDs
Can access Forex ECN with 1:500 leverageLimited deposit and withdrawal options
Trade on MT4, MT5 and cTrader on Destktop and mobile platforms 
Access copy trading, bonus promotions and a variety of research tools 

Fees and commissions

Minimum Initial deposit to start trading100EUR recommended
Average spread EUR/USD – active0.9 spread
Average spread EUR/USD – standard0.5 standard spread
VIP or active trader discountsFloating lowest at 0 pips
GO Markets Review

 

GO Markets

Founded in 2006, GO Markets is a brokerage company which is driven by compliance, competitive spreads and technological developments. Go Market’s head office is located in Australia and also maintain others in the UK and Taiwan. Its trading environment is connected to advanced technologies which allow traders to develop various strategies and improve the outcome of trading. Go Markets offer a tight spread with more than 90 instruments through Forex, Indices and Commodities markets as well as cryptocurrencies.

Pros and cons

ProsCons
Strict regulationsNo US clients
Segregated client fundsNo fixed spread accounts
Trading central, educational centre 
MT4/5 Genesis 

Fees and commissions

Minimum Initial deposit to start trading$200 standard $500 for Plus account
Average spread EUR/USD – active1.0 pip spread
Average spread EUR/USD – standard1.0 pip average spread
VIP or active trader discounts0.0 pip spread for plus account
AvaTrade Review

 

AvaTrade

Another leading, globally renowned broker with over 200,000 trusted clients worldwide. Ava Trade is regulated on 5 continents, is a forex broker that provides its customers with exceptional trading solutions, regardless of knowledge and experience allowing customers to enter the market trade through a variety of numerous, adaptable platforms, tools and options. Ava is a multinational company, with its headquarters located in Ireland, however Ava does operate regional offices in Paris, Dublin, Milan, Madrid and more.

Pros and Cons

ProsCons
Easy and fast account openingOnly CFDs, forex, and cryptos offered
Free and multiple deposit and withdrawal optionsPhone support not available 24/7
Great educational tools 

Fees and commissions

Minimum Initial deposit to start trading$100
Average spread EUR/USD – active1.3 active spread
Average spread EUR/USD – standard1.3 Standard spread
VIP or active trader discounts 
Exness Review

 

Exness

Exness, a global brokerage firm delivers its services from Saint Vincent, Grenadines and is a certified Cyprus broker. The EU company in Cyprus undergoes fully regulated services to the members within EEA and the rest of the world, while the global brand delivers opportunities to the retail and corporate sectors. Exness brokers have won numerous awards as a retail broker and offers stable and reliable brokerage services within a comfortable trading environment. They offer tight spreads and no hidden commissions from 0.1 pips.

Pros and Cons

ProsCons
Segregates client fundsLimited range of instruments
Established in 2008Not FCA regulated
Min. deposit from $1 

Fees and Commissions

Minimum Initial deposit to start tradingFrom $1
Average spread EUR/USD – activeExness 1.1 Avg 0.7 pips
Average spread EUR/USD – standard0.7 standard
VIP or active trader discounts 
FBS Review

 

FBS

FBS is an international broker that provides its services from over 190 countries and has been active since 2009. Awarded with multiple awards for excellence and cutting-edge technologies on the Forex marketplace. FBS has also expanded its European reach and became a Cyprus broker which offers useful tools and fully regulated trading services to beginners and professionals alike.

Pros and Cons

ProsCons
Access to a demo accountHigh spread on some accounts
A variety of platformsLimited tradable assets
Low minimum depositVery high spreads on Cent accounts
Leverage up to 1:3000Limited trading platforms

Fees and Commissions

Minimum Initial deposit to start tradingFrom $1
Average spread EUR/USD – active1 pip floating spread with cent account up to -1
Average spread EUR/USD – standard0.5 floating spread
VIP or active trader discountsNo trading limits with ECN account
Plus500 Review

 

Plus500

Founded in 2008 in Israel, Plus500 is now one of the largest trading entities and operates around numerous countries such as Cyprus, UK, Australia, Singapore and others. Plus500 is a leader in CFD and Forex brokerage with a fantastic foundation for professional trading environments. The company is also listed as a regulated financial broker and serves over 304 000 active clients around the world.

Pros and Cons

ProsCons
User friendly platformLimited portfolio
Low trading feesMinimal research tools
Listen on the London Stock ExchangeMid-range educational section

Fees and Commissions

Minimum Initial deposit to start trading$100
Average spread EUR/USD – active0.6 active spread cost
Average spread EUR/USD – standardBuilt into spread 0.6 pip average spread cost
VIP or active trader discountsOnly one account type
eToro Review

 

eToro

Founded in 2006, eToro aimed to create a trading platform that was suitable for traders of all levels and offering easy and convenient trading tools. Currently, eToro has become one of the largest and most popular brokers along with its social trading network that has over 6 million users from over 150 different countries. eToro mainly specializes in CFD assets trading and is a fully regulated broker.

Pros and Cons

ProsCons
Free stock and ETF trading in the EUHigh Forex fees
Seamless user-friendly account openingWithdrawing money is expensive and slow
Social trading experienceOnly one account base currency

Fees and Commissions

Minimum Initial deposit to start trading$200
Average spread EUR/USD – activeBuilt into spread 3 pips average
Average spread EUR/USD – standardAverage spread cost 3 pips
VIP or active trader discountsOnly live or demo accounts available
IG Group Review

 

IG Markets

One of the older, pioneers of its kind IG Markets was founded in 1974 and has been an industry leader and in some ways actually built the concept of financial spread betting. Featuring trading solutions in over 13 countries in some of the world’s key financial areas. IG Markets headquarters is located in London and continues its operation in the USA, Australia, Japan, New Zealand and is registered among different European countries.

Pros and Cons

ProsCons
First class web trading platformHigh stock CFD Fees
Exceptional educational toolsLimited product portfolio
Great deposit and withdrawal optionsPoor phone customer support

Fees and Commissions

Minimum Initial deposit to start trading$0
Average spread EUR/USD – activeBuilt into spread 0.7 pips average cost
Average spread EUR/USD – standardStandard built into spread, 0.7 pips average
VIP or active trader discountsCountry of residence determines which account you can open
SMFX Review South Africa

 

SMFX

SMFX is a trading name that the company uses, it operates mainly through its offshore entity Scope Markets Ltd based in Belize and the other, SM Capital Markets Ltd which is an authorized broker located in Cyprus. SMFX has been in the business since 1997 and offers to deliver the necessary requirements for traders. It’s a simple trading environment which is advanced enough for beginner and professional traders alike.

Pros and Cons

ProsCons
Leverage as high as 1:500An offshore license
Variety of currency pairs and CFDsHigh spreads
Meta trader 4 availability 
Various payment methods 

Fees and Commissions

Minimum Initial deposit to start trading$100
Average spread EUR/USD – active1.8 average active spread
Average spread EUR/USD – standard1.8 spread standard
VIP or active trader discounts1.3 spread VIP
BlackBull Markets Review

 

Blackbull Markets

Blackbull Markets was founded in 2014 and operates through New Zealand. With years of experience in Forex trading and multiple resource offerings to retail traders, Blackbull Markets enables multiple trading solutions, performance and competitive pricing. Blackbull supports various currency pairs, Forex, Indices, Metals and commodities.

Pros and Cons

ProsCons
Commission free accountsNo US Clients
FIX API TradingNo fixed spread accounts
Electronic communication networkLimited educational material
Global equinix serversLimited trading tools

Fees and Commissions

Minimum Initial deposit to start trading$200
Average spread EUR/USD – active0.1 Spreads active with ECN Prime
Average spread EUR/USD – standard0.8 standard account spreads
VIP or active trader discounts0.0 Spreads for ECN Institutional
Scandinavian Capital Markets Review

 

Scandinavian Capital Markets

A pure ECN broker which uses STP model of execution. Scandinavian Capital Markets delivers a reliable trading environment to the Swedish market, its headquarters is located in Stockhom with other operating centres around the world. Operating since 2011 and is essentially a prime broker with custom liquidity feeds, flexible trading processes and tailored pricing. Scandinavia Capital markets also offers access to Forex exchange and over 50 currency pairs.

Pros and Cons

ProsCons
Transparent trading conditions$10 000 minimum deposit
Solid banking partners1:100 max leverage
Multiple trading platformsOnly 45 trading pairs
Thought leadershipLimited deposit methods

 

Fees and Commissions

Minimum Initial deposit to start trading$10 000
Average spread EUR/USD – active1.7 pips
Average spread EUR/USD – standardStandard 1.7 pips
VIP or active trader discountsFrom 0.0 pips premium account
CharterPrime Review

 

CharterPrime

A global financial and forex broker which was founded in 2012. CharterPrime’s philosophy is to provide personalized trading conditions and create a trusted trading environment. CharterPrime’s main global office is constantly maintained and offers trading opportunities through the trading of CFDs, Forex instruments, commodities, precious metals and index CFDs all at a low cost.

Pros and Cons

ProsCons
Used by over 10 000 tradersDoesn’t allow scalping
Experienced, founded in 2012Not FCA regulated
Min deposit from $200 
Regulated broker 

Fees and commissions

Minimum Initial deposit to start trading$200
Average spread EUR/USD – activeVaries depending on account
Average spread EUR/USD – standardStandard is 0.0 pips for ECN account
VIP or active trader discountsVariable rates per account
FXGM Review

 

FXGM

An online trading brokerage firm which serves multiple different entities while being based in Cyprus. Operating since 2011 FXGM has displayed reliability and always strives to improve its offerings and trading technology. The broker supports a wide variety of trading tools and services, which a great array of services to assist both beginners and professional investors alike. Instruments range from Forex and CFD products on shares, commodities and indices.

Pros and Cons

ProsCons
Highly regulatedWeak FAQ section
Award winning brokerScarcity of data on demo account
Choice of many accountsDoes not offer ECN trading

Fees and Commissions

Minimum Initial deposit to start trading$100
Average spread EUR/USD – active3 pips active spread
Average spread EUR/USD – standard3 pips standard spread
VIP or active trader discounts5-10 protection loyalty program
CommSec Review

 

CommSec

An Australian brokerage firm that has been in operation for over 20 years which proves their professionalism. Originally Commsec is an investment firm that offers vast opportunities to either invest through 7 simple options or trade yourself. CommSec is one of the leading online trading providers within Australia and has great educational tools and even supports regional communities through various programs.

Pros and Cons

ProsCons
Minimal entry requirementsNo US clients, Australia only
Chess-sponsored sharesFew account funding options
Access to international securitiesDifficult account opening process
Multiple educational resourcesNo MetaTrader platform

 

Fees and Commissions

Minimum Initial deposit to start trading$50
Average spread EUR/USD – activeVariable active spread
Average spread EUR/USD – standardVariable standard spreads
VIP or active trader discountsNB
Synergy FX Review South Africa

 

Synergy FX

Another Australian broker, SynergyFX provides some powerful trading capabilities and supports access to Forex, commodities, precious metals and indices which are all delivered with tight spread and regulations. Originally founded in 2011, SynergyFX achieved a reasonable record together with millions of clients from all over the world. ACY Capital, a leading Australian forex dealer then acquired the company in 2018 and improved its technology and trading base even further to where it is today.

Pros and Cons

ProsCons
Used by over 10 000 tradersDoesn’t allow EA’s
Regulated by Australian Securities and InvestmentNot FCA regulated
Commission (ASIC) 
Min. despoit from $100 

 

Fees and Commissions

Minimum Initial deposit to start trading$100
Average spread EUR/USD – active1.0 Active spread
Average spread EUR/USD – standard1.0 standard spread
VIP or active trader discounts0 spread on Zero ECN and Pure ECN accounts
Score Priority/Just2Trade Markets Review

 

Just2Trade

A brokerage firm established in Cyprus, Just2Trade has offered its trading services since 2006 and has gained the trust of over 155,000 clients worldwide. Just2Trade is a fully regulated trading broker and also serves additional trading for EU clients. Just2Trade offers low margins and no hidden fees policy, with a range of 20 markets offeromg over 30,000 instruments.

Pros and Cons

ProsCons
Strict regulationNo US clients
Investor compensation fundRestricted leverage for non-professional clients
Multiple flexible trading platformsNo fixed Spread accounts
Trading central 

Fees and Commissions

Minimum Initial deposit to start trading$100 for standard accounts
Average spread EUR/USD – activeFrom 0.5 pips active standard accounts
Average spread EUR/USD – standardAverage from 0.5 standard accounts
VIP or active trader discountsFrom 0 spread for Forex ECN and MT5 Global accounts
Goldwell Capital Review

 

Goldwell Capital

Another brokerage firm which was established in Cambodia and who is registered and regulated under local law. Goldwell Capital offers trading in Forex, Commodity, Precious Metals and CFD trading through thousands of markets all of which are delivered with low trading costs. Beginning in operation in 2018 the firm gained some trust within the local population and industry. Their main goal was to establish reliable commitment to provide its clients with trustworthy trading conditions. The firm offers excellent customer service and numerous tools which help in the trading process which include market updates, news and an economic calendar as well as other information and educational tools you can use on a daily basis.

Pros and Cons

ProsCons
Regulated in CambodiaLight-touch regulation
Trading on MT4Excessive commission fee
Good solid leverageTrading conditions not fully disclosed
 Bank transfer only

 

Fees and Commission

Minimum Initial deposit to start tradingNB
Average spread EUR/USD – active1.8 pips spread costs
Average spread EUR/USD – standard1.8 pips standard average
VIP or active trader discountsNB
MEX Exchange Review

 

MEX Exchange

An established firm in online financial trading, MEX exchange has been in operation since 2012, through Australian and become on of the most regarded industry institutions. Mex offers trading access through multiple advanced trading platforms on a range of instruments including Forex, Metals, Stocks and CFDs. It’s also a part of a global group a known company called MultiBak with offices located all over the world.

Pros and Cons

ProsCons
Fast and easy account openingHigh stock CFD and inactivity fee
Free and multiple deposit and withdrawal optionsLimited product coverage
Fast and relevant customer serviceBasic research and educational tools

 

Fees and Commissions

Minimum Initial deposit to start trading$50
Average spread EUR/USD – active0.1 active spread cost
Average spread EUR/USD – standard0.1 standard spread cost
VIP or active trader discountsWider spreads on premium account no commission
TriumphFX Review

 

TriumphFX

A brokerage firm located in Cyprus, TriumphFX provides access to quality trading and investment solutions through its fully regulated environment with competitive conditions. Operating since 2010, the firm really displayed their professional approach to their investors, traders and institutions by its NDD and STP model of order processing based on price feeds from the largest providers. At TriumphFX you will find a range of account types suitable for beginners or veteran traders, a reliable and professional platform to execute orders and unparalleled support from broker itself as well as educational materials.

Pros and Cons

ProsCons
Regulated brokerNo USA traders
No dealing desk NDD interferenceNot the lowest spreads
Daily market analysisLimited trading instruments
Educational materialsLimited funding options

Fees and Commissions

Minimum Initial deposit to start trading$100
Average spread EUR/USD – activeFixed variable spreads from 1.6 pips
Average spread EUR/USD – standardFixed variable spreads from 1.6 pips
VIP or active trader discounts0.6 pips for premium account
FXFlat Review

 

FXFlat

A German independent online broker who has been in operation since 1997. FXflat offers products specified to Futures, CFDs and Forex trading and provides its clients with innovative technology and exceptional service, while all being regulated by the necessary laws. The company supports developing of the CFD market in Germany by being a member of CFD Verband and has an active role in social commitments as well while supporting various social institutions such as hospitals.

Pros and cons

ProsCons
Regulated in Germany by the BaFinUSA traders are not allowed
Trading on MT4, MT5 and AgenaTraderOnly German & English are supported
Trading tools such a stereo trader, morning call etcRestricted leverage
Award winning customer supportNot the lowest spreads compared to other brokers

Fees and Commissions

Minimum Initial deposit to start trading$200
Average spread EUR/USD – activeVariable from 1.0 pip spreads
Average spread EUR/USD – standardStandard variable spreads from 1.0 pips
VIP or active trader discountsNB
JP Markets Review

 

JP Markets

A South African Forex Broker, JP Markets originally started in 2016 with a base on understanding international financial markets. The main goal of JP Markets is to strive to offer the ability to engage in long-lasting relationships and trading capability, which inspires local traders in the process. Dedicated to online trading courses and a huge amount of educational materials, together with its dynamic trading recognition has made it one of the leading brokers in South Africa.

Pros and Cons

ProsCons
Regulated brokerage firmLack of additional trading tools
No fees on deposits or withdrawalsNot the lowest spreads and commissions
Negative balance protectionNo MetaTrader 5
Range of educational materialsNo daily market analysis

Fees and Commissions

Minimum Initial deposit to start trading$200
Average spread EUR/USD – activeActive average 2 pips for SPT account
Average spread EUR/USD – standardStandard average 2 pips for SPT account
VIP or active trader discountsECN account raw spread and commission charges
NAGA Review

 

Naga

Founded in 2015 as a Fintech company which provided access to world markets through decentralized technology along with necessary support so that global investors would get bigger exposure. Establish under Cyprus law, allowing access to trade financial markets, cryptocurrencies, stocks and virtual goods supporting all major markets. Offering social trading opportunities, the trading of over 500 instruments and ICOs.

Pros and Cons

ProsCons
Strict regulationNo US clients
Segregated client fundsRestricted leverage for nonprofessional clients
Investors compensation fundNo MT4/MT5
Copy and provide trading signalMarket up spreads

Fees and Commissions

Minimum Initial deposit to start trading$30
Average spread EUR/USD – activeVariable spreads 1.2 active standard
Average spread EUR/USD – standardVariable spreads 1.2 standard spreads
VIP or active trader discountsNB
FxNet Review

 

FXNet

Another brokerage firm located and established as a Cyprus broker. FXNet is an STP broker which can trade through a market execution. Providing competitive pricing, with no restrictions on strategies while broker keeping a high level of customer service always available. Exposure to various markets include Currencies, Metals, Shares, Bonds, Commodities and Indices.

Pros and Cons

ProsCons
Segregated client fundsDoesn’t offer VPS
Established in 2012Limited range of instruments
Regulated by financial conduct authorityNo ASIC regulated
Min. Deposit from $50 

Fees and Commissions

Minimum Initial deposit to start trading$50
Average spread EUR/USD – activeActive 2.3 pips standard
Average spread EUR/USD – standardStandard 2.3 pips
VIP or active trader discountsFrom 1.9 pips VIP account – 0 pips platinum account

What are regulated forex brokers?

When a broker is regulated it means they are safe and legit and adhere to various
rules and regulations of a certain international authority.

Can you trade forex without a regulated broker?

Yes.

Who are the best regulated brokers?

See the full list and info of 27 Best regulated forex brokers on our SAShares website.

https://www.sashares.co.za/best-forex-regulated-brokers/

Is Alpari International a regulated broker?

Yes.

Is XM.com a regulated broker?

Yes.


View all FSB regulated forex brokers 

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