Best Forex Broker for 2023 – The Top 3 Platforms to Choose From

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    Even if you are still relatively new to the world of investments, chances are you have come by the term forex, short for foreign exchange, the world’s largest financial market. Many traders find this financial asset appealing, as its beneficial characteristics include high liquidity, volatility, leverage, diversification opportunities, and easy accessibility. The act of trading currencies is done through forex brokers or exchanges. Picking the best forex broker for 2023 that offers practical trading features and services will help you understand technical analysis, financial fundamentals analysis, and the room to practice to execute the most profitable traders.

    Introduction to Forex Trading

    The foreign exchange market, also known as forex, is the world’s largest financial market, with trillions of trading volumes exchanged daily. Forex trading is essentially the act of exchanging one fiat currency for another. With currency exchange being vital for the economy, it is highly influenced by economic downturns or uptrends in countries. Each currency is linked to another, and traders speculate on price movements by betting on forex pairs, the most popular of which is the EUR/USD.

    Advantages of Using a Regulated Forex Broker 

    If investors successfully manage the risk levels of the forex market and limit leverage, they can capture the benefits of forex investing through online brokerages. These benefits include the ability to trade 24 hours a day and capitalize on different market trends, as the forex market can influence other asset classes like stocks and bonds. 

    Overview of the Best 3 Forex Brokers – Our Top Picks for 2023 

    Top forex brokers in the world are the ones that have competitive and transparent fees, tools with valuable advanced features, informative insights, and educational resources. Having all of these perks in one place means you can get the most out of your trades, save as much time as possible and have an overall better forex trading experience. In our top forex brokers list below, you will find trusted platforms that have been industry leaders for many years.

    Swissquote – Overall Best Online Broker for Forex Trading

    In our forex broker review, we have placed the swiss leader in online banking, Swissquote, on top of our list. A full range of investment choices, multi-currency functionality, and asset protection is what you are guaranteed to get from this forex-best broker. This leading forex provider outperforms its competition by offering their customers competitive pricing, world-class support, and account and product choices. Swissquotes’s three types of accounts allow for zero commission trading and spread starting from 1.5 pips for a standard version and 0.8 pips for a prime account.

    Swissquote’s eTrading forex trading platform is described by the brokerage as an intuitive, accurate, and efficient multi-asset platform suitable for all levels of expertise. From our forex broker review, we can confirm that their proprietary trading tool is highly efficient. Its standard version is tailored to the needs of traders, but you will also have space to fully customize the tools and features to serve your strategy and goals. With Swissquote’s forex trading app, you can be sure that you will not miss any market opportunity, with real-time financial information and new functionalities constantly being added.

    If you want to brush up on your forex knowledge, the broker’s education resources about technical and fundamental analysis and risk management are a great place to start. Swissquote believes that practice makes perfect when it comes to forex trading, and that is why they give you a demo account with all the features of their trading platform and trade with virtual money for free.

    With its innovative features, competitive fees, and charges starting from 1.5 pips, our forex broker ranking for Swissquote is 4.5/5. Their educational resources and world-class support contribute to one of the best customer trading experiences you can get from a forex trading platform.


    • Regulated and Established Broker: Swissquote is a well-established and regulated forex broker, authorized by several financial authorities, including the Swiss Financial Market Supervisory Authority (FINMA), the UK Financial Conduct Authority (FCA), and the Dubai Financial Services Authority (DFSA).
    • Competitive Pricing: Swissquote offers competitive pricing for forex trading, with low spreads, commissions, and fees, allowing traders to minimize their trading costs.
    • Advanced Trading Platform: Swissquote’s platform offers advanced trading features, including customizable charts, automated trading, and various order types, providing traders with flexibility and control.
    • Wide Range of Currency Pairs: Swissquote offers a wide range of currency pairs for trading, including major, minor, and exotic pairs, providing traders with diverse trading opportunities.
    • Quality Research and Analysis: Swissquote provides in-depth market analysis, daily news updates, and expert insights, helping traders make informed decisions.
    • Multiple Account Types: Swissquote offers multiple account types, including a demo account, allowing traders to practice their strategies and gain experience before trading with real money.
    • 24/7 Customer Support: Swissquote offers professional and responsive customer support through multiple channels, including phone, email, and live chat, providing traders with support whenever they need it.


    • Limited Educational Resources: Swissquote’s educational resources may not be as comprehensive as some other forex brokers, making it less suitable for beginner traders.
    • Limited Bonus and Promotions: Swissquote does not offer many bonus and promotional offers, which may be a downside for traders looking for additional incentives.

    In conclusion, Swissquote is a reputable and regulated forex broker that provides traders with a comprehensive and competitive trading experience. With low spreads, commissions, and fees, advanced trading features, diverse currency pairs, quality research and analysis, multiple account types, and responsive customer support, Swissquote is a strong choice for forex traders in 2023. While it may not offer as many educational resources or bonus promotions as some other brokers, its established reputation and regulatory compliance provide traders with peace of mind regarding the security and reliability of its services. Ultimately, traders should conduct their due diligence and consider their individual needs and circumstances before choosing a forex broker.

    Saxo Bank – Award-winning Forex Broker with Useful Tools and Features

    The European company Saxo Bank has been operating for over 30 years and has become one of the top forex brokers in the world that specializes in trading and investment. The company’s constant strive for innovation, success, and growth has brought them numerous awards and made them one of the best picks for 2023. 

    With Saxo Bank, you get access to self-managed investing, managed portfolios, intuitive trading tools, and expert insights, all combined in just one trading platform. Saxo will help you invest well, and with access to over 65 000 financial products, and 190 forex pairs, you will undoubtedly have numerous opportunities to do so.

    By opening a Saxo account, you will immediately gain access to their premium trading platforms, which are created to fit your needs and experience level. The tools you can use from the top forex broker are SaxoTradeGo, SaxoTraderPro, Connectivity and APIs, and Third Party Tools from their partners. The two proprietary platforms Saxo Bank offers are entirely customizable and can be used through desktop, mobile, PC, or MAC, with all essential features and asset classes supported on both. If you want to extend your trading capabilities, Saxo’s partnerships with third-party tools will make the process more convenient and suit your specific trading requirement.

    With the platform having close to 1 million active traders and the Best Forex Broker Award for 2022, we will give Saxo Bank a forex broker ranking of 4.8/5. This best forex broker’s constant strive for innovation and their highest standard for quality of services should be admired, and their trading platform is a safe place for your investments.


    • Regulated Broker: Saxo Bank is a well-regulated forex broker, authorized by multiple financial authorities, including the UK Financial Conduct Authority (FCA), the Danish Financial Supervisory Authority (DFSA), and the Swiss Financial Market Supervisory Authority (FINMA).
    • Advanced Trading Platforms: Saxo Bank provides its clients with advanced trading platforms, including SaxoTraderGO and SaxoTraderPRO, which offer a range of trading tools, intuitive interfaces, and a broad range of tradable instruments.
    • Competitive Pricing: Saxo Bank offers competitive pricing for forex trading, with tight spreads and low commissions, allowing traders to reduce their trading costs and maximize their profits.
    • Wide Range of Tradable Instruments: Saxo Bank offers a wide range of tradable instruments, including forex, commodities, stocks, bonds, and more, providing traders with diversified trading opportunities.
    • Quality Research and Analysis: Saxo Bank provides high-quality research and analysis, including daily market insights, economic news, and technical analysis, helping traders to stay informed and make better trading decisions.
    • Multiple Account Options: Saxo Bank offers a range of account options, including a demo account, allowing traders to practice their strategies and gain experience before trading with real money.
    • Professional Customer Support: Saxo Bank provides professional and responsive customer support through multiple channels, including phone, email, and live chat, helping traders with any questions or issues they may encounter.


    • High Minimum Deposit Requirement: Saxo Bank requires a high minimum deposit of $10,000, which may be a barrier for some traders, particularly beginners.
    • Inactivity Fees: Saxo Bank charges inactivity fees if an account is inactive for more than six months, which may be a disadvantage for traders who do not trade frequently.

    In conclusion, choosing the right online broker is a crucial decision for any trader, whether they are interested in forex, ETFs, cryptocurrencies, or CFDs. Each broker has its unique features, advantages, and disadvantages, and it is essential to consider these factors carefully before making a decision. In this era of technology and innovation, the availability of advanced trading platforms, research tools, and educational resources has made it easier for traders to participate in the financial markets. However, it is equally essential to understand the risks involved and manage them appropriately. Regulatory compliance is another vital factor to consider, as it provides a level of protection to traders against fraud and misconduct. Therefore, it is crucial to choose a regulated broker that provides transparent and reliable services.

    London Capital Group (LCG) – Most Trusted Forex Broker

    London Capital Group is a regulated forex broker based in the United Kingdom, offering 20 years of world-class trading, and is best known for providing transparent and secure financial services. Although they take a more classic trading approach, their services have been polished and have become one of the most reliable in the forex trading industry today. Diversify your portfolio with the opportunity to trade 7000+ instruments across nine asset classes. In terms of forex trading, the perks are endless, as with LCG, you get to trade majors, minors, and exotics, with leverage and benefit from low spreads.  

    London Capital Group’s trading platforms are LCG Trader and MT4, with which you can enjoy a superior trading experience on all devices. MetaTrader4 is the most popular trading platform as it offers advanced charting functions, various indicators, and algorithmic trading functionality, which, combined with LCG’s technologies, make a great product. LCG Trader is a proprietary platform built with forex multi-asset support in mind. You can quickly develop profitable strategies with its comprehensive market data and analysis range.

    Become a better trader and learn more about the forex trading world with LCG and its expert knowledge resources. You will find advanced investment opportunities and news about the latest market movements with free access to trading videos, market reports, and webinars. These materials created by experts and their cutting-edge forex trading app are a recipe for success in the forex industry.

    Being a trusted and reputable forex exchange, London Capital Group gets a forex broker ranking of 4.6/5. LCG’s tailored services and educational resources make the broker one of the best forex for beginners.


    • Regulated by the Financial Conduct Authority (FCA) in the UK, providing a high level of investor protection.
    • Offers a wide range of trading platforms, including MetaTrader 4, LCG Trader, and mobile apps, with advanced charting and analytical tools.
    • Provides a comprehensive range of trading instruments, including major and minor currency pairs, commodities, indices, and cryptocurrencies.
    • Provides educational resources and market analysis to help traders stay informed and make informed trading decisions.
    • Offers competitive spreads and low trading commissions.
    • Provides customer support services through various channels, including live chat, email, and phone.
    • Offers various account types to suit different trading needs, including a demo account for practice trading.


    • Limited funding options, with only a few methods available, such as bank transfer, credit/debit cards, and Skrill.
    • High minimum deposit requirements, which can be a barrier for new traders.

    In conclusion, choosing the right broker is a critical decision for any investor or trader. The PROS and CONS of different brokers can vary based on individual needs, preferences, and trading strategies. It is essential to consider factors such as regulatory compliance, trading platforms, range of instruments, fees, customer support, and educational resources. Thorough research and analysis of different brokers can help investors make an informed decision that aligns with their goals and objectives. By understanding the strengths and weaknesses of each broker, investors can optimize their trading experience and achieve their financial goals in a safe and secure environment.

    Key Features to Consider When Choosing the Best Forex Broker:

    A great forex brokers list should comprise companies with values that reflect the quality of their services and various offerings. In the section below, you can find the key features we believe should be present in every trading platform so that traders can get the most out of their fore trading.

    • Account Types 

    Scalability is critical for career advancement in forex trading, and different account types are crucial for better trading conditions. Opting for a higher-level account will give you perks like access to more advanced tools and better leverage levels.

    • Supported Assets and Investment Options 

    Different forex trading apps support foreign assets and thus provide advanced opportunities for global market access. If you want to diversify your portfolio outside forex trading, then a forex exchange with multiple asset types supported will help you quickly achieve your goal.

    • Tools Offered

    Knowledge about technical and financial fundamentals analysis and experience is needed to be a successful trader. Top forex trading platforms give analysis tools at your disposal, which will help speed up the learning process, and you will get better results promptly.

    • Trading Interface

    A good trading interface needs to include all the services and features in its trading platform in one place. That way, traders will be more time efficient and proficient with their trading. 

    • Fees & Charges 

    Forex brokers who have competitive fees mean that they have a robust pricing system. You will get to trade FX with excellent spreads with low pips and high leverage levels.

    • Mobile Trading

    Besides the numerous advantages that mobile forex trading apps offer customers, you will also get access to real-time news and analysis. With an option to customize your notifications, you may come across valuable resources that may lead to profitable deals.

    • Customer Support

    Access to customer support means you will get help with account-related queries anytime through various communication channels. This means you will not have to worry about things such as deposits and withdrawals, account management, etc.

    Comparison Between the Best Forex Brokers for 2023:

    Working with reputable forex brokers can provide traders with access to a variety of trading pairs, useful trading tools and educational materials. When comparing the best forex broker, you need to weigh the strengths and weaknesses of each platform. Our pros & cons table below will help you make an informed choice about the trading platform that perfectly lines up with your trading style and goals

    SwissquoteExtensive Offers of Currencies WorldwideSafety and Security with the Highest Regulatory Standards Trade with Leverage up to 30:1First-Class Customer Support Available 24/7Minimum Deposit of $1000 to Get StartedThe Account Verification Process may Take up to 24 Hours
    Saxo BankConvenient Trading ToolsRecognizable and Transparent Forex BrokerCompetitive FX Spreads Starting From 0.6 PipsManaged Portfolios for Flexible Risk LevelsHigh Minimum Deposit of $2000High Inactivity Fee
    London Capital Group (LCG)Wide Range of Instruments and Asset ClassesWord-Class Trading PlatformsTrusted and Regulated UK BrokerExpert Knowledge of MaterialsInactivity and Deposit Fees may ApplyOutdated Trading Interface


    Choosing the right broker will significantly impact your success and growth as a forex trader. The top forex brokers in the world combine the essential features, including support over various assets, trading tools, and educational resources, into one complete package of services. Whether you are a novice or an experienced trader, every company in our forex brokers list will help you advance your forex trading career. Conduct research on your own and pick a trading platform that is best for you; however, remember to invest with caution, considering the risks involved in forex trading.  


    Which type of forex broker is best? 

    The best forex exchange meets your trading needs and goals and assists you in executing successful trades with the help of advanced tools and features. Consider other brokerage characteristics tailored to your strategy. For example, transparent and competitive prices are what you are looking for; pick a broker that offers direct access to the interbank market.

    Which forex broker is best for beginners?

    Choosing top forex for beginners brokers means that you should be looking for ones that offer a beginner-friendly trading interface, learning materials, and a customer service department. From our top forex brokers list, London Capital Group is the one that provides the best services for beginners.

    Which is the richest forex broker in the world? 

    The largest and most popular forex trading platforms include CMC Markets, Saxo Bank, and London Capital Group (LCG), each of which has its strengths and weaknesses. Emerging companies like Swissqute are also excellent picks because of their advanced features and fresh trading interface.

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    Nikolay's fascination with the world of cryptocurrencies was sparked when he joined the team at, one of the biggest crypto trading exchanges. He was able to delve into the available educational resources and recognized the many benefits of this industry, leading him to focus his expertise on crypto and promote its widespread adoption. Nikolay has worked as a copywriter for large companies in the financial sphere. Outside of the crypto niche, Nikolay has experience writing content about personal finance, financial culture, and investment portfolio building, which are some of his favorite topics. He enjoys communicating with new clients and learning skills to help him improve as an author.