Forex and CFD Brokers

By our estimation, there are literally thousands of Forex, CFD, spread betting and binary options brokers across the world. Most of those brokers operate (only) online, taking retail clients’ deposits electronically via credit cards, Skrill, NETELLER, and other means.

However only a handful of those Forex brokers are licensed and overseen by a recognized national regulator, such as the FCA in the UK, ASIC in Australia, or CySEC in Cyprus. A regulator’s job is to set rules for both brokers and traders in their jurisdiction such as maximum use of leverage, slippage, and client bonuses, and to oversee the operations of brokers such as checking minimum capital levels, setting advertising standards, and the segregation of client funds from company funds.

Only a handful of Forex brokers are indeed properly licensed and overseen by a recognized national regulator.

LeapRate’s List of Regulated Forex Brokers includes many of the world’s leading brokers, and includes only brokers which are licensed by a recognized governmental regulatory body. We strongly recommend that if you trade Forex and CFDs, do so only with a broker properly regulated in your jurisdiction.

Broker Regulated HQ Founded Equity Cap ($M) Monthly Vol ($B) Open Account
+ more info CySEC (Cyprus) Larnaca, Cyprus 2010 N/A N/A

Who we are

HotForex is an award winning forex and commodities broker, providing trading services and facilities to both retail and institutional clients. Through its policy of providing the best possible trading conditions to its clients and allowing both scalpers and traders using expert advisors unrestricted access to its liquidity, HotForex has positioned itself as the forex broker of choice for traders worldwide.

What we provide

HotForex offers various accounts types, trading software and tools to facilitate individuals and institutional customers to trade Forex and CFD’s online. All Retail, Affiliates, and White Label clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms. HotForex provides an unparalleled variety of account options that clients can select to enjoy a tailored trading experience that perfectly suits their needs. Coupled with superior trading conditions and lightning fast execution, HotForex provides all the tools and services needed for clients of any level to realize their trading ambitions.

Not just a mission, it’s a promise

Our Mission is To Provide the Best Customer Service to our Clients by maintaining a Superb Client Centric Culture. In this way we will achieve our Vision of maintaining our position as a Market Leader known for our Superior Customer Services.

+ more info FCA (UK), CySEC (Cyprus) Limassol, Cyprus 2008 $84M $218B

Exness Group is an international, award-winning retail forex broker founded by a group of like-minded finance and IT professionals in 2008. The group comprises of Exness Limited (VC), Exness Limited (NZ), Exness (CY) Limited, and Exness LLC (Russian Federation).

With a deep understanding of traders’ needs, the modern forex company provides accessible, stable, and reliable brokerage services with some of the tightest spreads and excellent execution in the market today. As confirmed by Deloitte, Exness Group recorded a trading volume exceeding USD 2.3 trillion in 2015, and a new monthly trading volume record of USD 253.2 billion in July 2016.

Clients of Exness Group also enjoy excellent trading conditions, including spreads as tight as 0.1, leverage up to 1:Unlimited, as well as high level of service such as 24/7 client support, instant withdrawal of profits, and outstanding order execution.

+ more info FCA (UK) London, UK 1996 £16.4M N/A

London Capital Group (LCG) is a leading provider of online trading services. Our success has been driven by its dynamic approach to the industry and by building a business model that operationally has no restrictions on scalability. This model has allowed the business to grow rapidly since the launch of our first online business, the financial spread betting service Capital Spreads, in 2003. Today we offer a wide variety of financial trading products and platforms for retail, professional and institutional investors.

Our parent company London Capital Group Holdings plc is listed on the London Stock Exchange and an established member of the AIM market. Our head office is located at the prestigious location of 1 Knightsbridge; from here we concentrate on promoting our services across the UK and Europe as well as managing our global operations. We are authorised and regulated in the UK by the Financial Conduct Authority (FCA).

+ more info CySEC (Cyprus), Vanuatu Limassol, Cyprus 2007 N/A N/A

Founded in 2007, UFX is an internationally recognised leader in the online trading industry. As a fully licenced and regulated broker, we adhere to the highest ethical standards, customer protection, and trading security.

We are an STP (Straight-Through-Processing) broker, meaning we do not take opposing trades to yours, and we offer fixed and stable spreads. Our state-of-the-art platform caters to traders of all levels, our customer support center has won numerous awards for excellence, and our reliability is second to none.

We are your global trading partner, arming you with one of the industry’s most innovative and cutting-edge online trading platforms. Our unique team of seasoned financial professionals, IT specialists and hedge fund managers has developed a pioneering gate into the exciting world of the financial markets. Our core values are: devotion, determination and excellence, so rest assured that we will deliver whatever it takes for you to be 100% focused on your goal – making money in the financial markets.

+ more info FCA (UK), CySEC (Cyprus), CONSOB (Italy) Limassol, Cyprus 2010 N/A N/A

STO websiteSTO is an online trading Forex and CFD broker, offering clients a multitude of ways to trade on the financial markets.

STO is a division of AFX Group established in 2009 and started its operations in 2010. STO is the trading name of AFX Capital Markets Ltd and AFX Markets Ltd.

With offices in many of the world’s major financial centres – London, Milan, Limassol, Shanghai and New York, our expert professionals provide unparalleled client support, along with comprehensive education, insightful market news and technical analysis and FX indicators to give our clients multiple advantages such advance trading tools (EAs & Chart Indicators) for a seamless trading experience.

In 2009 our vision was to offer the most competitive trading conditions and an optimal trading experience to our clients. Today, almost a decade later, we are still tirelessly striving to achieve this goal by continually adding to our roster of CFD instruments, increasing the benefits we extend to our clients – including negative balance protection and regulation under two regulatory authorities.

We want to be leaders within the industry and the only way we can do that is by offering our clients a truly unique, unparalleled experience. Trading with STO not only gives you access to the World’s most active markets, but a global network of customer support agents, experienced and knowledgeable account and portfolio managers.

In the second part of 2017 we were extremely proud to collaborate with Quantic, AFX Group’s asset management branch, to offer our clients a portfolio management solution, allowing them access to an otherwise institutional level investment product.

As we grow you will reap the benefits – so stay tuned for our latest innovations, products and services, because STO is truly – Trading. Inspired.

+ more info FCA (UK), Dubai (DMCC), New Zealand (FMA) London, UK 2008 N/A N/A websiteThe Equiti Group includes EGM Futures DMCC – a multi-asset broker regulated and licensed by Emirates Security and Commodities Authority, specialised financial services providers Divisa UK, Divisa US, Divisa AM, and Divisa NZ. We provide our clients individual, corporate and institutional brokerage services. With over 150 global staff, the Group’s reach extends across offices in the Middle East, North America, Europe, and the Asia Pacific regions.

Trust is what you need when trading. We know how important it is to ensure the security and integrity of all your trading activity and your trust is of utmost value to us. We diligently work to meet the stringent standards set by the Financial Conduct Authority (FCA) in order to put our client’s best interests at the centre of our business.

+ more info FCA (UK), Japan (JFSA), Hong Kong (SFC) London, UK 2005 N/A N/A Trade website 320x240 Trade is the service name of Trade UK Limited, and is an affiliated company of GMO CLICK which is has been recognised as the world’s largest retail forex provider by volume for 5 consecutive years since 2012. Trade offers trading services to retail and institutional clients across a range of Forex, Commodities and Indices markets, and executes orders on an STP NDD execution model. Our group processes an average of over $1BN in trading volume each month across our secure and stable trading systems, with over 500,000 clients worldwide choosing us as their preferred trading destination.

A range of opportunities and features are also available via the Trade Partnerships Program. Trade UK Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom (No. 622897), and participates in the Financial Services Compensation Scheme (FSCS). .

+ more info FINMA (Switzerland), FCA (UK), DFSA (UAE), SFC (Hong Kong), MFSA (Malta) Gland, Switzerland 1996 $280.8 $67B

Swissquote Bank is the Swiss leader in online banking, emphasizing innovative online services and software development since its inception in 1996. Over the years, we have established strong relationships with hundreds of financial institutions around the world, who benefit from Swissquote’s deep liquidity, first-rate banking solutions and leading-edge technology. Swissquote ranks among the top 15 forex providers worldwide, with over 300,000 client accounts in 120 countries, and an annual client FX trading volume of 800 billion USD. Our deep liquidity and advanced technology allow unique hedging and order capabilities.

Our clients and partners also appreciate our safety and reliability, as Swissquote Bank and its subsidiaries are regulated in Switzerland, UK, Hong Kong, UAE and Malta. Moreover, Swissquote Group Holding Ltd is listed on the SIX Swiss Exchange (SIX:SQN), ensuring that Swissquote is held to the highest standards of security, transparency and financial strength.

+ more info CySEC (Cyprus) Limassol, Cyprus 2011 N/A N/A

JFD Group was founded in 2011 by professional traders to address the lack of transparency affecting trading. Fairness is one of our core values, and we believe everybody has the right to a just fair and direct treatment, whether they are an employee, a client or a partner. Based on the belief that transparency and a direct approach is key to a win-win relationship, we operate a pure Agency Model, where we have effectively managed to establish a unique virtuous cycle where your success becomes our success! So far, we have established ourselves as game-changers in the industry, providing a new trader-centric standard. As we enter a new era of trading, JFD will continue to leverage from the latest business and technology transformations globally in order to innovate further and lead by example.


Transparency – It’s time for a new, more sophisticated way of investing. We not only abide by international regulatory standards, but we are the only broker that goes the extra mile, providing its clients upon request with a Post-Trade Execution Report. In fact, we pioneered Post-Trade Transparency, setting a new industry benchmark!

Trust – We build solid relationships with our clients and partners, where they feel secure trading with us, as they know that their success is our success. You can rest assured that we are in this business to protect your interests, and your funds, and that we truly are what we stand for: just fair and direct.

Trader-Centric – We believe that retail traders are as valuable as institutional traders, and they deserve the same benefits. We treat everybody fairly: when you trade with our pure Agency Model, there is no conflict of interest and no discrimination – our trading conditions are the same for all clients, with one account type and one pricing for all.

+ more info FCA (UK), ASIC (Australia) London, UK 2010 N/A N/A

ThinkMarkets (formerly ThinkForex) is a leading global foreign exchange broker headquartered in Melbourne, Australia. ThinkMarkets is dedicated to delivering high-quality Forex services to a continually expanding retail and institutional client base.

ThinkMarkets is well-known for its high level of customer service and 24/6 client support. ThinkMarkets helps clients further develop their trading skills by providing numerous educational resources, including video tutorials, analyst insight, and comprehensive online articles.

ThinkMarkets is regulated by the Australian Securities and Investments Commission (ASIC) with AFSL number 424700.

+ more info EEA (Malta) Valletta, Malta 2002 N/A N/A

Headquartered in Malta, an emerging hub for foreign exchange trading and global finance, FXDD employs a diverse workforce of over 180 Forex specialists fluent in 13 languages.

We offer trading solutions to individual and institutional traders, hedge funds, money managers, white labels, and introducing brokers; all of which are tailored to each specific trader’s needs and strategies.

Our global reach and ability to develop cutting-edge tools at a rate that outpaces other brokerages helped FXDD develop into a global force in Forex. And as we continue to develop, so too will our offerings and technologies; giving traders the opportunity to make the most of the currency market.

+ more info FCA (UK), Dubai (DFSA), Cyprus (CySEC), Lebanon (BDL) London, UK N/A N/A

Amana Capital website

Amana Capital is a leading specialist in online trading providing direct access to the global financial markets to worldwide institutional and retail clients. The company is backed by Manara Capital and is regulated by the FSA, DFSA, BDL, and CySEC.

The Vision of the Group

The vision of the group is to be a first-rate trusted leader in delivering innovative financial services in anticipation of the needs of institutional and individual investors.

+ more info FCA (UK), CySEC (Cyprus) London, UK 2006 N/A N/A

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5.

Traders are provided with superior order execution with no dealing desk intervention*, and access to a deep pool of liquidity via a wide range of platforms. FxPro is known for maintaining a client-centric approach and remains an active proponent of transparency and fair trading practices.

*Subject to FxPro’s Order Execution Policy.

+ more info FCA (UK) London, UK 2010 £10.0M N/A

ICM Capital websiteICM Capital is an international online Forex and CFD trading firm offering 24 hour access to a diverse range of trading products including foreign exchange, commodities, futures and indices. Through ICM Capital and the world renowned MetaTrader 4 trading platform you can take advantage of high liquidity, tight spreads, mobile trading, technical analysis and much more .

ICM Capital offers you the opportunity to trade fast, tight prices on Foreign Exchange (FOREX) and CFD Contracts on Oil (WTI & Brent), Indices, Silver and Gold using one of the most renowned retail trading platforms in the world, MetaTrader 4.

We pride ourselves on being authorised and regulated by the Financial Conduct Authority (FCA registration number 520965) in the UK and the first-class protection we offer for your funds. In addition to this we strive to ensure all our clients are treated fairly and are provided with detailed information about our products, spreads and execution whenever it is needed.

We already offer clients the security of client fund protection under the Financial Services Compensation Scheme (FSCS) covering up to £50,000. To go above and beyond expectations we have enhanced this to offer additional protection up to £1,000,000. Lloyd’s of London is known as the world’s specialist insurance market and works with a global network to enhance the insurance possibilities for organisations as well as individuals. It is backed by substantial global capital and has excellent financial ratings. This new insurance is available to all ICM Capital live account holders at no additional cost and is underwritten by QBE Underwriting Limited and other participating syndicates at Lloyd’s of London.

+ more info CySEC (Cyprus) Larnaca, Cyprus 2012 N/A N/A

CFI Markets Ltd. is a leading financial institution offering superior online FX & CFDs trading for private and institutional clients worldwide.

Based in Larnaca, Cyprus, the company is fully regulated by the Cyprus Securities And Exchange Commission (CySEC) under the license number 179/12.

At CFI Markets, we consciously choose to offer our clientele the greatest combination of elements that are important to help them trade the different markets. We aim to deliver the greatest service and support to our clients and make it simple and fast for them to make day to day business with us.

With fair, efficient and transparent executed services, our objective is to offer our investors attractive conditions, advanced technology and diversified products adapted to their needs.

Finally, and most importantly, we strive to implement all of it securely while following a rigorous business approach nurtured by long-term vision, tradition and discipline.

+ more info FCA (UK), CySEC (Cyprus), ASIC (Australia), FSP (New Zealand), FSP (South Africa) *see details below
*Your capital is at risk
Israel 2008 $89M N/A

Plus500 is a leading provider of Contracts for Difference (CFD’s), delivering trading facilities on shares, forex, commodities, ETFs, options and indices, alongside innovative trading technology.

Plus500 has developed and operates an online trading platform for retail customers to trade CFDs internationally over more than 2,200 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs and foreign exchange.

The Group enables retail customers to trade CFDs in more than 50 countries. The trading platform is accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface), Apple Watch and web browsers).

Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14). Plus500AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. You do not own or have any right to the underlying assets. Please consider our Disclosure documents available on our website.

+ more info EU (Denmark, UK), Japan, Hong Kong, South Africa, Australia Copenhagen, Denmark 1992 $632M $247B

Saxo Bank is one of the leading players in global online trading, providing both private and institutional clients with a cutting-edge platform that delivers effective, multi-asset trading from a single account.

As a fully licensed and regulated Danish bank, we’re subject to stringent EU directives and regulations regarding client handling. Our internal systems undergo the strictest security measures to ensure your personal information is protected and you experience the safest online trading available.

It’s crucial our traders and investors have anytime, anywhere access to not only popular assets, but also geographically diverse assets in hard-to-reach markets. Our extensive, multi-asset advantage gives you the superior edge you need to stay ahead in today’s ever-changing, global market.

+ more info FCA (UK), NFA/CFTC (US), JFSA (Japan), IIROC (Canada), CIMA (Grand Cayman) Bedminster, NJ 1999 N/A $208B is the premier destination for active currency traders seeking to maximize their success in forex and other major global markets.

Established in 2001, has serviced over 200,000 customers globally and support our customers’ success by providing them access to advanced trading platforms, professional charting, third party analysis tools and expert research and analysis.

We are committed to delivering an exceptional trading experience and earn the trust and loyalty of our customers’ through transparent, reliable pricing and superior trade executions.’s parent company, GAIN Capital Holdings, Inc. (NYSE:GCAP), is a global provider of online trading services.

+ more info ASIC (Australia), FCA (UK) Melbourne, Australia 2010 N/A N/A

Pepperstone website 320x240Pepperstone Group is a forex and CFD broker that provides trading solutions sophisticated enough for veteran traders, yet simple enough for the forex novice.

Who Are We?

Pepperstone assists retail and institutional investors in using forex and other instruments as an asset class and part of their investment objectives. We strive to offer the best trading platforms with access to low-cost pricing, reliable trading infrastructure, fast execution and exceptional client support. Pepperstone offers direct access to multiple destinations of liquidity in the forex markets without the usual burdens of a deal desk that had previously been unavailable to the retail investor.

Our Vision

Since 2010, Pepperstone has set out to spearhead the evolution of online forex trading in over 65 countries, helping this asset-class to become more accessible to the individual retail investor. We aimed when we began to revolutionise the industry by offering traders better service, lower spreads and faster execution, something we are still absolutely committed to doing today. Our vision is to become the world’s largest provider of online foreign exchange trading.

+ more info FCA (UK) London, UK 2013 N/A N/A

Formax websiteFormax Prime Capital (UK) Limited is one of the world’s leading providers of Forex trading technologies and services to both private and institutional traders. By utilising our powerful trading platform, traders can gain instant access to our proprietary ‘Straight Through Processing’ (STP) technology, excellent liquidity, dedicated customer services and a broad range of advanced trading tools.

We are a FCA Regulated broker (Reference Number 624225) and the subsidiary of Formax Group Limited, an international financial company with a strong focus on innovation and development of financial technology. At present Formax has several subsidiaries based in the UK, New Zealand, Hong Kong, China, India, Thailand and Australia.

The Formax group’s rapid growth since 2013 has enabled it to attract significant strategic investment and capital. With strong financial backing, advanced trading technologies, global resources and our collective experience in financial markets, the Formax group are quickly becoming established as a leading provider of state of the art, diversified and professional financial services.

+ more info FCA (UK), ASIC (Australia), MAS (Singapore), FINMA (Switzerland), JFSA (Japan) London, UK 1974 £567M N/A

We began in 1974 as IG Index, providing an innovative way for retail investors to speculate on the price of gold. Since then we have continued to change the face of trading, establishing ourselves as a market leader around the world.

With 40 years’ experience we are the No.1 global provider of financial spread betting and CFDs, and hold a market-leading position in many countries, including the UK, Australia, Singapore, and France.

As a large multinational organization, we have strength in resources and stability, with a well-capitalised, debt-free balance sheet and consistently strong growth.

The vast majority of our clients are not City traders, they are often professional men and women who are interested in the financial markets.

+ more info FCA (UK) London, UK 2010 £35M N/A

GKFX websiteGKFX is a global market maker, head quartered in London and regulated by the key global regulators including the United Kingdom’s FCA and many other local regulatory authorities.

In addition to our London headquarters we have locations across the globe in 11 cities in 8 countries.

The Global workforce of 400 employees is made up of local professionals across all capital markets disciplines located in London, Beijing, Bratislava, Brno, Cairo, Dubai, Frankfurt, Johannesburg, Madrid, Milan, Prague, Shanghai and Warsaw, with more offices to come. This coverage gives our clients local knowledge with the global coverage they would expect from their trading partner.

Although a young company established in 2010 GKFX has grown rapidly, expanding its offering to over 600 products including FX, CFDs, Commodities, Equities and Indices, providing a first class reliable user experience across a wide range of platforms. The group remains focused on the client.

The GKFX mission is to put the client first, delivering consistent quality of service, quality products to assist in the investment process in a flexible manner for the busy investors of today along with a transparent competitive dealing service in a wide variety of investment products, with innovative platforms that are at the technological forefront of what is available today.

Our aim is to become one of the largest global brokers and we believe that with integrity and quality of service we will reach our goals with our customers.

+ more info FCA (UK) London, UK 1990 £2.61M N/A

Hantec Markets has been a market leader in Forex trading services for two decades. If you’re looking for a broker that genuinely puts your capital growth first, our model is geared up to do exactly that. A massive 70% of our new custom comes from referrals from happy clients.

No dealing desk means no conflict of interests, no price manipulation, and stable trading parameters. The level of risk is up to you however you trade, you can do so with the confidence that your capital growth is our priority.

We’re your gateway to 16 of the largest worldwide banks, all competing for your trade. That results in extremely competitive spreads on 50 currencies, the most popular CFDs plus gold and silver.

Hantec Markets Limited is regulated by the Financial Conduct Authority (FCA) Registration No. 502635, with the additional protection of the Financial Services Compensation Scheme (FSCS) on losses of up to £50,000.

+ more info FCA (UK), CySEC (Cyprus), SFC (Hong Kong) Abu Dhabi, London 2011 N/A N/A

ADS Securities is an Abu Dhabi based and owned international financial services company, dedicated to providing the highest quality investment opportunities for institutional, private and retail clients.

With offices in London and Hong Kong it offers unique wealth management, asset management, capital market and trading services delivered by market experts. It has made a significant investment into proprietary multi-asset trading technology which is central to its ability to access liquidity and instruments, as well as delivering the highest quality products and services. Investment has also been made into people with the development of experienced, highly qualified teams with diverse backgrounds committed to a vision of becoming a leader in global business. Through organic growth, acquisition and strategic partnerships, ADS Securities has created a financial services firm which offers international knowledge, expertise and standards, but with the regional sensitivity and cultural identity of Abu Dhabi. ADS Securities is regulated by the Central Bank of the UAE, the Financial Conduct Authority (FCA) in the UK and the Securities & Futures Commission (SFC) in Hong Kong.

ADS Securities started as an institutional brokerage offering a high quality, full service, multi-asset institutional Forex solution. Our market-leading proprietary technology accesses primary and secondary market liquidity, delivering exceptional price and execution. We have applied our unique approach to customer care to develop the exclusive trading solution ADS Prime, for private clients. Prime extends institutional standards of execution with tailored support for individual investors across a range of trading options.

Our mandate has always been to build a global financial services firm that offers the highest quality products and services. ADS Securities is independent, proud of our heritage, innovative, adaptable, and competitive; we are the financial services firm of the future.

DISCLAIMER: Please note that LeapRate's opinions and analyses do not address the suitability of any security or trading strategy, nor do they address the likelihood of profit or loss via any one particular trading firm. You should not rely on our analysis alone before deciding to trade with any one of these (or other) firms, and our reports and analysis are not meant to be a replacement for your own diligence and review. See our disclosures page.


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