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8 Best Forex Trading
Platforms of 2023

Are you looking to start trading? Our experts have compiled the best
brokers for beginner traders out of 59+ brokers

Best CFD trading platform for UK traders, Award winning xStation5 trading platform


4.8/5 ratings


Regulated By

Year Established

Trading Instrument














  • EUR/USD : 1.3
  • GBP/USD : 1.8
  • USD/JPY: 1.4
  • USD/CAD : 2.2
  • AUD/USD : 1

Risk Warning: CFDs are leveraged products 73% of traders lose money when trading CFDs with XTB

8 Best Forex Trading Platforms of 2023

Our Featured List

Best CFD Broker for European

Best Metatrader 4

Best Low Spread & Regulated ECN Broker

Best Overall Global

Best CFD Broker for

Best Forex broker for U.S

No.1 UK Spread Betting

Best Innovative FX

Table of Content

BlackBulll Markets

Six Point Rule

This is probably one of the most important choices you will make when you’re starting on your Forex trading journey, which is selecting a trusted, regulated and reputable online broker. And you may ask, what do qualities do I look for before choosing a broker to trade Forex?

We believe there are six main factors to keep an eye on when thinking about which broker to sign up with. Ekzaga was solely created to have information accessible on top forex brokers at your fingertips and to make an online broker selection easier. 

Read more about what we call the “Six Points” when looking for the best forex trading platforms.

Broker Regulation

FCA Compensation Structure

Is important to know by whom the broker is regulated because if it’s not regulated by any licensing authority, it is not a trusted Forex broker under any circumstance. This is one of the most researched terms when choosing a forex broker.

The Majority of Top Tier Forex brokerage firms as we know are regulated, e.g. the FCA (Financial Conduct Authority) which regulates XTB UK brokerage offers compensation to traders that have a deposit amount of up to £50,000 in the case the firm was to go through liquidation. 

A Client’sSafety of deposited funds is a critical factor when choosing the best online brokerage. All FCA regulated brokers guarantee that all their client funds are pooled in segregated accounts to their funds for deposit protection and client peace of mind. 

CySEC and ASIC Regulatory Bodies

Although the Cysec (Cyprus Securities and Exchange Commission) and ASIC (Australian Securities and Investments Commission) regulate brokers that are established in their domain they are highly respected and have the stamp of approval from industry professionals. 

Markets.com broker is regulated by CySEC and Pepperstone Broker is by ASIC. These are amongst a few that are regarded as the best forex brokers for beginners.

xtb-review XTB avatrade-logo-8783-300x300-_2 Avatrade l9.60x0-is XM
Overall Trust Score
Years Established
Regulatory Authority
Why Choose?
5-Star Rating on Trust Pilot
200 plus Instruments to trade
Popular- Over 1,000,000 users
Client funds in segregated accounts
Client funds in segregated accounts
Client funds in segregated accounts
Competitive Fixed & Variable Spreads
Regulated in 5 continents
No Re-quotes and No Rejections

The 'Spread' Alerts

Having information about spreads when analysing any currency trading platform is integral to stay ahead in your trading.

‘Spread’ is the difference in pips between the BID price and the ASK price quote (also called buy/sell) in a currency pair like the EUR/USD.

When trading Forex it is necessary to understand that the ASK price needs to be higher than the bid price all the time, and that difference is banked by the broker, obviously as a profit. That is the main reason why the spread has such a significant impact on your work as a Forex trader. 

Basic Understanding of ‘PIPs’ 

As a trader, you want to bank as much profit as possible and depending on what strategy or style you trade what spread you have to pay out to the broker is very important. For example, If you execute many traders or plan to have many open trading positions then one pip or two pips spread difference could mean saving pounds per trade.

This is incumbent to the size of your trades, one pip spread on a standard lot trade (100k) will mean the difference in ££s to one pip spread on micro-lot trade.

The spread is nothing more than the cost of each of the transactions performed by you as a trader in the market; of course, the price varies from broker to broker.

All spreads quoted below for each broker are fixed spreads.

Check Overnight Trading Fee’s

Analysing and assessing the overnight carry rate and swap rate analysis when choosing a trusted forex broker. For those who are in search of Swap-Free i.e. Overnight Interest-Free Accounts (see Islamic Broker Accounts) where your broker will not charge interest fees for having overnight open trading positions. This applies to Swing Traders and Long-term Position traders that must consider and factor this into their trading.


Swap-Free accounts were originally designed by brokers for traders who were not permitted to trade Interest related products due to religious beliefs e.g. Muslims of the Islamic religion. Traders who Scalp or Day Trade the markets should not be concerned with Swap-free as all their positions are liquidated within the trading day.

The swap rate is nothing more than the rate of the fixed leg of a swap as unwavering by its specific market and the parties involved.

Trading Instruments xtb-review XTB avatrade-logo-8783-300x300-_2 Avatrade plus500 Plus-500
EUR/USD (pips)
GBP/USD (pips)
USD/JPY (pips)
Dow (US30)
Crude Oil

Customer Service and Client Support

Multi-Langauage Support

If a Broker that offers customer service in more than 15 different languages, means that they are to be trusted. That is a sure sign that you’ve found a diversified and globally recognised online trading platform for you. XTB and Markets.com are known for covering customer support in a broad number of languages.

Importance of Query & Complaint Handling

Depending on what type of account you open and the value of funds you deposit the majority of brokers listed above give you a one-to-one personal dedicated account manager. 

Normally, a dedicated manager is always good to have when you have issues with adjusting to the functionality and use of the platform, issues with depositing funds or withdrawing funds, and resolving queries regarding spreads, fees and even commission on trades. 

This is why on many forums, traders outline that one of the major concerns was the delayed withdrawals of profits. We can ensure that the brokers above beat the market standard when it comes to the withdrawal of profits/funds.

Does The Broker have a Dedicated Account Manager?

A dedicated account manager is normally assigned when you sign up for a standard account, or VIP account or deposit a certain amount this varies from broker to broker. 

It’s not integral for having a dedicated account manager as pretty much all brokers listed on ekzaga.com have an informative step-by-step help section on their platforms for their users. 

In terms of client interaction, the majority of brokers can be contacted by standard e-mail, telephone and online live chat.

xtb-review XTB avatrade-logo-8783-300x300-_2 Avatrade plus500 Plus-500
Office Headquarter
London, UK
London, UK
Dublin, Ireland
Account Opening Contact
(Slow Response)
Live Online Chat
Language Offered
Personal Account Manager
Start Trading

Use of Platforms

The Interface/terminal platforms used by every Forex broker to execute trades differ from each other. Some forex brokers have their own designed platforms or even their own accessible MetaTrader 4 or MetaTrader 5 platforms (the most popular forex and commodity trading platforms for beginners).

Most Popular Trading Platforms

Here are some of the most known in the market:

  • MetaTrader 4 is one of the most famous platforms, widely used in foreign exchange. It owns web and Mobile Trading Apps support. The simplicity of using the interface makes it the best place to start for any beginner Forex trader. 
  • The MetaTrader 5 is the successor of MT4 and has the same functions as MT4, but better. 
  • cTrader platform is a well-known trading platform that owns an excellent take profit and stop-loss system, varying chart time frames, and a different and new interface. 
  • Brokers such as XTB and Markets.com have their award-winning platforms xStation5 and eToro web trader. They have unique indicators and some additional unique features than your standard MetaTrader 4 platform. 

XTB Trading Platform has the Best Features

One of the reasons why the XTB broker performed the highest is because its very own XTB xStation 5 platform has been voted amongst the best trading platforms. Here are some unique features:

  • Superior execution speeds – with fast, reliable execution speeds, you can trade safely in the knowledge that you can take advantage of fast market moves without delay. 
  • Easy to use – innovative, intuitive and fully customisable, xStation 5 is a platform that allows you to create a trading screen suited to your style. All your settings, watchlists and workspaces are instantly accessible from your desktop, phone, laptop or tablet. 
  • Trading Calculator – xStation 5’s advanced trading calculator instantly determines how much profit or loss you could make depending on your stop loss, lot size, and limit order, allowing you to make more informed trading decisions in the blink of an eye. 
  • Trader Statistics – Analyse yourself as well as the markets with live performance statistics that inform you which markets you are most successful in, including specific win ratios on your long and short trades. 

When you are using any trading platform it is imperative to know what other compatible mediums are available; this way, you can work not only through your computer but through your phone or tablet. 

For example, if you’re planning to trade the forex market part-time or purely to make a secondary income then your broker must have a mobile trading application i.e. one that has an Apple app and Android app compatibility so you can monitor your trades.

Trading Instruments xtb-review XTB UK avatrade-logo-8783-300x300-_2 Avatrade plus500 Plus-500
Guaranteed Stop Order
Negative Balance Protection
Additional Education
Trailing Stops
One-Click Trading

Additional Trading Features

The thing that makes or breaks the trader’s choice of a particular broker is the additional features they offer to traders.

One of the main attraction for traders is the wide range of accounts available, like the ECN account, the Standard account or even a Micro account for those starting on their trading journey. 

Micro accounts are a great place to start for beginner traders as you can open small trading positions e.g. 0.1 Lot which is on average 10 pence or 10 cents per pip (percentage points).

Scalp Trading Broker Comparison

Scalping is one of the most active forms of trading which involves a frequent process of selling and buying throughout the entire trading session or in parts of the day. 

The traders would target the smallest price movements in the day and they will rely on these small movements to gain profits. The targets and the stops on the profits are used to manage the positions which help for minutes and seconds. 

What is Forex Scalp Trading?

The profits are pretty small and the traders will be able to place many trades in a particular session. However, the process tends to be a bit risky because it entirely relies on the higher percentage of winning trades.

Average No. of trades placed per day – 80-150 trades

We have compared three Brokers which we believe are the best for those who are looking for low-spread ECN Brokers

fxtm.70x0-is FXTM pepperstone_fx Pepperstone icmarkets IC Markets
Account Name
ECN Account
Razor Account
True ECN Account
Office Headquarter
London, UK
London, UK
Dublin, Ireland
Account Opening Contact
(Slow Response)
Live Online Chat
Language Offered
Personal Account Manager
Start Trading

Also, you can find some features like “one-click trading” which allows you to execute trades instantaneously in the event you want to take advantage of any volatility in currency prices.

Feature like Guaranteed Stop-Loss Might Be Useful 

A guaranteed stop-loss feature is another unique feature that was created to comply with risk management orders. Sometimes brokers close out trades beyond one’s desired stop-loss levels. 

This is not ideal because it can violate your risk management profile e.g. if you place a stop-loss risk management to 1% of the overall capital account size for a particular trade, then a Guaranteed stop-loss feature ensures you only get stopped out 1% and nothing more. 

At times of high volatility in the market, this would be an essential feature to have.

This feature protects a trader from entering into a negative trading balance. Every broker sets a margin call which means you are restricted to the maximum lots size you can trade. 

Forex trading is highly leveraged trading and the market is very volatile therefore sometimes a losing trade can exceed risk or stop levels meaning you lose beyond deposit levels. 

Negative Balance Protection for Your Trading Capital

Negative balance protection is useful when a trader leverages more on their trades relative to their account size. Brokers that offer webinars, seminars, video tutorials and additional trading education support are more valuable to beginner traders

A lot of top regulated brokers offer extra support on how to draw Trendlines or use Fibonacci Retracement, pivot lines, moving averages etc. AvaTrade broker educational platform the “Sharp Trader” offers a lot of content for their traders. 

According to AvaTrade broker, Sharp Trader offers “offers a comprehensive range of videos, articles, daily news and trading tools, taking you from trading fundamentals to the advanced strategies of leading professional traders.”

Opening an Account

This is the main aspect that you need to clarify. The fewer steps to start, the more time you’ll have to start trading. 

Document verification is the standard protocol by all brokers because they all have to comply with AML (Anti-Money Laundering) and (Know Your Client) regulations. for those who want to get started, we have given a short guide to opening trading with XTB.

Opening XTB Live Account

Please follow the steps outlined below:-

1)Please follow the link below and follow the instructions to open a demo account or live trading account. Read ourXTB in-depth review guide formore informationabout trading fees, leverage and types of platforms offered.

2) Once you are on the homepage,click ‘Try a Demo’ for demo trading or ‘Create Account’ for a live account. The whole process takes max 7- 10minutes. For simplification, we will how to set up the demo account.

3)Then enter your e-mail & all your details shown on the screen above. As you are beginning your trading journey we advised users to start trading with theMetaTrader

platform. To find out more about more on the MetaTrader 4 platform please read ourguide.

4)Then enter your e-mail & all your details on the screen shown above. As you are beginning your trading journey we advised users to start trading with the

MetaTrader 4tradingplatform. To find out more about more on the MetaTrader 4 platform please read our guide.

Top Three Featured Brokers

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