A trusted Forex broker is the one that offers fair trading conditions!
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.
Even if you have a profitable strategy, you won’t make money if you pay high costs to the broker. It is vital to have low spread, commission, and swap for your trading.
Honest and informed reviews are critical when selecting your Forex broker. Reviews are a reflection of how Forex brokers treat their clients.
Below you will find a list of Forex brokers that we, as well as thousands of our students, have tested. These are just a few we have tested. There are many more, and the choice of Forex broker is yours, but be sure to test your broker with a demo account before you trade in a live environment.
|Broker||Regulator||EURUSD Spread||Pros||Cons||Rating||Open Account|
|HotForex||CySEC, DFSA, FCA, FSA,FSC, FSCA||1.0 pips|
(0.0 pips in Zero Spread Account)
|Pepperstone||ASIC, FCA, Tier-1 & Tier-2||1.0 pips||4.7|
|XM||CySEC, ASIC, IFSC||1.0 pips|
(0.0 pips in XM Zero account)
|Coinbase ||NY BitLicense||30M+||$150B+||USA||4.5|
Why did we select these Brokers?
At EA Forex Academy, we always select trusted Forex Broker to make things easier for our students and traders. We were asked many times to create a page on our forum with trusted brokers, and we listened. You can now find the list on our forum.
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 Forex 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 account and the Live account. 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 some cash to make sure 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.
If you select to use any of the brokers listed in the forum, Forex Academy may receive a small referral fee. The generated funds will be invested back into the academy to purchase better equipment so we can provide you, our students, with an even a better education experience.