All Share (J203) = 88 342
Rand / Dollar = 18.58
Rand / Pound = 23.35
Rand / Euro = 19.33
Gold (usd/oz) = 2 928.65
Platinum (usd/oz) = 969.20
Brent (usd/barrel) = 76.29
Trade +10,000 CFDs with Tight Raw Spreads. – Trade Now!

10 Biggest and Top 10 Forex Brokers in the World

 

Biggest Forex Brokers in the World - Main Banner

 

The 10 Biggest and Top Forex Brokers in the World revealed. We have listed, rated, and reviewed the 10 Biggest Forex Brokers in the World.

We showcase which notable brokers are at the top in the Forex Markets.

 

This is a complete listing of The 10 Biggest Forex Brokers in the World.  In this in-depth write-up you will learn:

  • Top 10 Forex Brokers in the World.
  • Top Forex Trading Platforms in South Africa.
  • Best Regulated Forex Brokers 
  • The Best Forex Broker for Beginners
  • The Best Forex Broker in South Africa
  • A Top 10 Trusted Forex Brokers List

 

10 Best Forex Brokers in South Africa for 2025

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, CySEC, FCA, DFSA, FSA, CMA

$0

#3

CySEC, MWALI, FSCA

$25

#4

CySEC, FCA, FSA, FSCA

$100

#5

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#6

CySEC, ASIC, FSA, BVI, FSCA

$25

#7

ASIC, CySEC, FSA, SCB

$200

#8

ASIC, CySEC, FSCA, FSA, FSC, CMA

$100

#9

FCA, CySEC, FSCA, SCB

$100

#10

FSCA, FSC, ASIC, CySEC, DFSA

$5

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.7/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.0/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.5/5

User Score

#10

4.9/5

User Score

 

Biggest and Top 10 Forex Brokers in the World in 2025 – A Comparison

🔎 Broker🚀 Open an Account💰 Minimum Deposit📍 Trusted📌 Regulated
AvaTrade👉 Open Account$100 USD / 1846 ZARHighly Trusted✅ Yes
Exness👉 Open Account$10 USD / 184 ZARHighly Trusted☑️ Yes
XM👉 Open Account$5 USD / 92 ZARHighly Trusted✅ Yes
Forex.com👉 Open Account$100 USD / 1846 ZARHighly Trusted☑️ Yes
Pepperstone👉 Open Account$0 USD / 0 ZARHighly Trusted✅ Yes
FP Markets👉 Open Account$100 USD / 1846 ZARHighly Trusted☑️ Yes
CMC Markets👉 Open Account$0 USD / 0 ZARHighly Trusted✅ Yes
IG👉 Open Account$0 USD / 0 ZARHighly Trusted☑️ Yes
Interactive Brokers👉 Open Account$0 USD / 0 ZARHighly Trusted✅ Yes
FXTM👉 Open Account$200 USD / 3693 ZARHighly Trusted☑️ Yes

 

What is a Forex Broker? – Explained

A Forex Broker is a financial services provider that offers traders access to a platform or platforms for buying and selling foreign currencies.  A Forex Broker may also be referred to as a retail forex broker or a currency trading broker.

 

10 Biggest Forex Brokers in the World (2025)

  1. AvaTrade – Overall, Best Broker on the top 10 list in the World
  2. ExnessBest Broker for Professional Traders
  3. XM – Excellent all-round offering
  4. Forex.com – Great Research and Education
  5. PepperstoneLeading Broker in South Africa
  6. FP Markets – Ease of Use
  7. CMC Markets – Best Web-Based Trading Platform
  8. IGBest Broker accepting US Traders
  9. Interactive BrokersBest Broker for Beginners
  10. FXTMBest Broker with Low Costs

 

1. AvaTrade

AvaTrade Review

 

AvaTrade is a market-leading Forex Broker that is regulated in multiple tier-1 jurisdictions which puts it at the top of the Biggest Forex Brokers List.

AvaTrade has strong core values of integrity and innovation with its focus placed on its customers.  AvaTrade is a winner of 100+ financial and technological rewards including:

 

  • Best Mobile Trading Platform UAE 2025
  • Most Innovative CFD Broker UAS 2025
  • Most Trusted Trading Platform Europe 2025

 

Min Deposit

USD 100

Regulators

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

Trading Platform

MT4, MT5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

The range of markets made available by AvaTrade includes Forex, CFD Equities, ETFs, Commodities, Cryptocurrencies, Indices, and FX Options.

AvaTrade has a wide variety of trading platforms on offer including WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, Duplitrade, and ZuluTrade.

AvaTrade offers its services to over 400,000 registered traders across the globe.

 

AvaTrade

Pros and Cons

✅ Pros❌ Cons
Easy Account openingLimited product portfolio
No withdrawal feeAdministration fee
Low trading feesInactivity fee
Negative balance protectionNot listed on stock exchange

 

2. Exness

Review Exness

 

Exness is a forex and CFD broker that offers its clients access to trading in currencies, crypto, stocks, indices, metals, and commodities.

Exness is regulated in tier-1 and tier-2 jurisdictions making it a highly trusted broker choice.

 

Min Deposit

USD 10

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Platform

MT4, MT5, WebTerminal, Exness Terminal

Crypto

Yes

Total Pairs

97

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Exness offers access to a wide range of instruments including Forex, Metals, Cryptocurrencies, Energies, Stocks, and Indices.

Exness offers its services to over 370’000 traders across the globe.

 

Exness

 

Pros and Cons

✅ Pros❌ Cons
Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutionsThere is a limited portfolio of financial instruments offered
Traders can choose between several retail investor accountsExness offers a limited number of payment methods that can be used for deposits and withdrawals

 

3. XM

XM Review

 

XM is one of the largest, most well-established international investment firms in the industry.  Features that make XM one of the biggest brokers in the world include:

 

  • Over 5,000,000 clients
  • Traders from over 190 countries
  • 25+ secure payment methods
  • 10+ full-feature trading platforms
  • 30+ languages supported
  • 24/7 customer support

 

Min Deposit

USD 5

Regulators

FSC, CySEC, ASIC,

Trading Platform

MT4, MT5

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

XM is a multi-award-winning broker that has received hundreds of accolades.

 

XM

 

Pros and Cons

✅ Pros❌ Cons
Fast digital account openingAccount types vary according to jurisdiction

 

4. Forex.com

Forex.com review

 

Forex.com is a trusted global market leader with over 22 years of experience in the industry.

Forex.com is known for offering Quality execution on every trade and Transparent, competitive pricing.

 

Other regulators of our affiliates include:

  • Financial Conduct Authority (FCA) in the UK
  • Financial Services Authority (FSA) in Japan
  • Commodity Futures Trading Commission (CFTC)
  • The National Futures Association (NFA) in the US
  • Investment Industry Regulatory Organization of Canada (IIROC)
  • Australian Services and Investments Commission (ASIC)

 

Min Deposit

USD 100

Regulators

CIMA

Trading Platform

MT4, MT5, Proprietary Platform

Crypto

No

Total Pairs

91

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Forex.com offers trusted support on a wide variety of levels.

Forex.com is Regulated by the Cayman Islands Monetary Authority under the Securities Investment Business Law of the Cayman Islands.

 

Forex com

 

Pros and Cons

✅ Pros ❌ Cons
Low Forex FeesLimited to Forex and CFDs
Variety of Currency PairsHigh Stock CFD fees
Diverse technical toolsNot user friendly

 

5. Pepperstone

Pepperstone Review South Africa

 

Pepperstone is one of the largest forex brokers in the world and combines fast execution speeds with raw spreads and low commissions.

 

Min Deposit

USD 0

Regulators

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

Trading Platform

MT4, MT5, cTrader, TradingView

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Pepperstone is an ASIC, FCA, and CMA-regulated broker which makes it highly trusted.  Pepperstone has won numerous prestigious awards including:

 

  • Best Overall Broker 2025
  • Global Forex Broker of the Year 2025

 

Pepperstone

 

Pros and Cons

✅ Pros ❌ Cons
Fast Account OpeningMostly CFDs Offered
Excellent Customer SupportBasic MetaTrader Platform
Negative Balance ProtectionNo Managed Accounts

 

6. FP Markets

FP Markets Review

 

FP Markets is a highly trusted Forex service provider that offers access to trade 10’000 tradable CFDs across Forex, Shares, Indices, Commodities, and Cryptocurrencies on several trading platforms. FP Markets trading platforms include:

 

 

Min Deposit

USD 100

Regulators

ASIC, CySEC, FSCA, CMA

Trading Platform

MT4, MT5, Iress Trader, cTrader

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

FP Markets is a trusted global CFD and forex broker that is regulated by the Australian Securities and Investments Commission (ASIC) while in Europe, our operations are regulated by the Cyprus Securities and Exchange Commission (CySEC).

 

FP Markets

 

Pros and Cons

✅ Pros❌ Cons
Forex fees are lowStock CFD fees are high
Accounts can be opened fast and easyProduct portfolio are somewhat limited
Deposit and withdrawal processes are quickly executedWeb and desktop platform is somewhat outdated

 

7. CMC Markets

CMC Markets Review

 

CMC Markets is one of the world’s largest Forex Service providers that aims to provide tight spreads regardless of market volatility.

CMC Markets delivers competitive and reliable pricing.

 

Min Deposit

USD 0

Regulators

FCA, IIROC, ASIC, FMA, MAS

Trading Platform

MT4

Crypto

Yes

Total Pairs

158

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

CMC Markets offers access to trade thousands of spread betting and CFD instruments across forex, indices, cryptocurrencies, commodities, shares, ETFs, and treasuries.

CMC Markets is regulated by BaFin and the FCA.

 

CMC Markets

 

Pros and Cons

✅ Pros❌ Cons
Well-regulated by strict entitiesUS clients not accepted
Client funds kept in segregated accountsSpreads are marked-up
FSCS memberFixed spreads not provided
MetaTrader 4 Nextgen supportedNo social trading

 

8. IG

IG Review

 

IG is a world-leading online trading provider that gives traders access to opportunities across thousands of financial markets through our intuitive platforms and apps.

IG is authorized and regulated by the FCA (UK) and the FSCA (SA).

 

Min Deposit

USD 0

Regulators

FCA, BaFin, FINMA, DFSA, MAS, ASIC, FSCA

Trading Platform

MT4

Crypto

Yes

Total Pairs

80

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

IG offers access to International Accounts, Institutional / Retail Corporate accounts, and, Premium Services.

 

IG

 

Pros and Cons

✅ Pros❌ Cons
Great Web PlatformFew Products Offered
Vast Educational ToolsPhone Support is sub-par

 

9. Interactive Brokers

Interactive Brokers Review

 

Interactive Brokers is a financial services provider that offers its services in over 200 countries across the globe, making it one of the biggest brokers in the world. Interactive Brokers has won multiple awards including:

 

  • Best Online Broker 2025
  • Best Stock Broker 2025
  • Best Broker for Day Trading 2025
  • Best Broker for Investing 2025

 

Min Deposit

USD 0

Regulators

CFTC, NFA, IIROC, FCA, CBI, ASIC, SFC, MNB, CSSF

Trading Platform

Proprietary Platforms

Crypto

Yes

Total Pairs

91

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Interactive Brokers allow traders to fund their accounts and trade assets in 26 currencies.

 

Interactive Brokers

 

Pros and Cons

✅ Pros❌ Cons
Wide range of productsExtremely complex desktop trading platform
Many great research toolsComplicated account opening process
Regulated by several authoritiesHigh inactivity fee

 

10. FXTM

ForexTime Review

 

FXTM is a trusted Forex service provider with over 4 million clients in over 150 countries across the globe.

 

Min Deposit

USD 200

Regulators

FCA, FSC, FSCA

Trading Platform

MT4, MT5, FXTM Trader

Crypto

No

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

FXTM offers access to low spreads, popular trading platforms, and a wealth of free educational resources.

FXTM has won multiple awards for education, technology, service, and trust, securing its position as one of the biggest Forex Brokers in the world.

 

FXTM

 

Pros and Cons

✅ Pros❌ Cons
Fast execution speedsBonus programs might be restricted in some regions.
High leverage (up to 1:2000)High leverage can increase risk, especially for beginners.
Tight spreads on ECN accountsLower leverage options for EU/UK clients due to regulations (1:30 for retail traders).
Access to MetaTrader 4 & 5High inactivity fees if the account is dormant.
Good educational resourcesCustomer support can sometimes be slow during peak times.
Regulated by several authorities (FCA, CySEC, FSCA)Limited product offering outside Forex (fewer stocks and indices).

 

Types of forex accounts

Navigating the vast world of forex trading starts with choosing the right account type. Here’s a brief rundown:

  • Standard accounts: The classic choice, offering flexibility in instruments and leverage, but requiring larger investment amounts.
  • Micro and Mini accounts: Perfect for beginners, these accounts allow trading with smaller lots, minimizing financial exposure while building experience.
  • ECN accounts: For the discerning trader, ECNs provide direct market access for tighter spreads and higher transparency, but often come with higher trading fees.
  • Islamic accounts: Complying with Sharia law, these accounts avoid interest charges by using swap-free mechanisms, ideal for Muslim traders.

 

Risks of forex trading

While forex offers exciting potential, understanding the risks is crucial:

  • Leverage: A double-edged sword, amplifying both profits and losses, demands cautious use and awareness of potential margin calls.
  • Volatility: The market’s dynamic nature can lead to sudden price swings, requiring swift adaptation and risk management strategies.
  • Liquidity: Less popular currency pairs may experience lower liquidity, making buying or selling at desired prices challenging.
  • Counterparty risk: Choosing a reputable broker minimizes this risk, ensuring transparency and secure transactions.

 

Common Forex trading strategies

Mastering various strategies empowers your trading journey:

  • Trend trading: Capitalize on existing market trends by buying in uptrends and selling in downtrends, requiring trend identification skills.
  • Range trading: Profit from price fluctuations within a defined range, utilizing technical analysis to identify entry and exit points.
  • Carry trade: Exploit interest rate differentials between currencies, borrowing with low rates, and investing with high rates, but remember market movements can impact gains.
  • Arbitrage: Identify and capitalize on price discrepancies between markets for the same currency pair, demanding quick execution and market awareness.

 

How to get started with forex trading

Taking the first step requires careful preparation:

  • Open a Forex account: Choose a reputable broker offering features and account types aligned with your goals and risk tolerance.
  • Fund your account: Start with a comfortable investment amount, considering potential losses and learning experiences.
  • Education and research: Equip yourself with knowledge about the market, trading instruments, and risk management strategies before venturing in.
  • Start small and practice: Utilize demo accounts or smaller trades initially to gain confidence and refine your approach before scaling up.

 

Choosing a Forex Broker

Beyond showcasing various brokers, the article neglects crucial guidance on selecting the right one.

Each trader has unique needs, risk tolerance, and budget, demanding individual broker selection criteria.

Understanding factors like spreads, commissions, platform usability, available instruments, and customer support is crucial.

Traders should prioritize regulation and licensing to ensure secure funds and transparent practices.

Furthermore, researching the broker’s reputation, educational resources, and community support can prove invaluable in navigating the complex forex market.

By carefully comparing brokers based on their specific needs and trading approach, individuals can ensure a suitable and reliable partner for their forex journey.

 

Specific Trading Strategies

While offering a general introduction, the article fails to delve into the vast realm of forex trading strategies.

A successful trader requires a defined approach to analyze market movements and capitalize on opportunities.

Popular strategies include fundamental analysis, focusing on economic data and central bank decisions, and technical analysis, utilizing chart patterns and indicators to forecast price movements.

Additionally, risk management strategies like stop-loss orders and position sizing are crucial for mitigating losses.

Each strategy has its strengths and weaknesses, and traders must carefully select and adapt them to their risk tolerance and market understanding.

The article’s omission of this crucial aspect leaves aspiring traders lacking the tools necessary to navigate the complexities of the forex market with confidence.

 

Regulation and Compliance

While mentioning the significance of regulated brokers, the article fails to address the intricate regulatory landscape of forex trading.

Different jurisdictions enforce diverse regulations, impacting everything from licensing requirements to leverage restrictions.

Traders must navigate this complex terrain to ensure they comply with relevant regulations and avoid legal repercussions.

Understanding key regulatory bodies like the FCA in the UK or the CFTC in the US is crucial.

Additionally, traders should be aware of potential compliance issues like anti-money laundering (AML) and know-your-customer (KYC) regulations, ensuring their activities adhere to financial crime prevention protocols.

Choosing a regulated broker is just the first step delving into the applicable regulations and ensuring compliance is essential for responsible and secure forex trading.

 

Taxing Profits

The article’s silence on the tax implications of forex trading leaves aspiring traders in the dark.

Forex profits, like any source of income, are subject to taxation in most jurisdictions.

The specific tax treatment, however, varies significantly depending on location, individual circumstances, and trading volume.

Traders must understand their local tax regime and determine whether forex profits are classified as income, capital gains, or even gambling winnings, each with unique tax implications.

Furthermore, reporting requirements and potential double taxation complexities in cross-border trading present additional challenges.

Consulting a tax advisor familiar with forex trading intricacies is crucial to ensure compliance and avoid future tax headaches.

By demystifying the tax landscape, traders can engage in forex with transparency and financial awareness.

 

Conclusion

Now it is your turn to participate:

 

Which of the Leading Forex Brokers from this list do you intend to test out?

What was the determining factor in your decision to engage with a certain broker?

Was it because of the Multiple Awards Won or the Pros and Cons?

 

Regardless, please share your thoughts in the comments below.

 

You might also like:  AvaTrade Review

You might also like:  Exness Review

You might also like:  XM Review

You might also like:  Forex.com Review

You might also like:  Pepperstone Review

 

Frequently Asked Questions

 

Who are the Biggest Forex Brokers in the World?

The Biggest Forex Brokers in the world include AvaTrade, Exness, and, XM amongst others.

 

What are the benefits of trading with a big forex broker?

Trading with a big forex broker can provide benefits such as access to a wide range of markets and assets, advanced trading platforms and tools, and higher levels of customer support and security. Big forex brokers may also have more resources for research and analysis and may offer better trading conditions such as lower spreads and higher leverage.

 

How do I choose the best big forex broker for my needs?

When choosing a big forex broker, it is important to consider factors such as regulation, fees, trading platform features, customer support, and the broker’s reputation. Comparing the offerings of several big brokers can help you find the one that best fits your specific needs and goals.

 

Are big forex brokers more trustworthy and reliable than smaller ones?

The reliability and trustworthiness of a forex broker are not necessarily tied to its size. It is important to research and compare the regulations, financial stability, and reputation of each broker, regardless of its size, to ensure that your funds and trades are secure.

 

Can I trade with a big forex broker from anywhere in the world?

Many big forex brokers have a global presence and offer online trading services to clients from various countries. However, regulations and restrictions may vary by country, so it is important to check the availability and conditions of trading with a big forex broker in your specific location.

4.5/5 - (22 votes)

Written by:

Louis Schoeman

Edited by:

Skerdian Meta

Fact checked by:

Arslan Butt

Updated:

February 16, 2025

Written by:

Louis Schoeman

Featured SA Shares Writer and Forex Analyst.

I am an expert in brokerage safety, adept at spotting scam brokers in mere seconds. My guidance, rooted in my firsthand experience with brokers and an in-depth understanding of the regulatory framework, has safeguarded hundreds of users from fraudulent brokerage activities.

Edited by:

Skerdian Meta

Leading Analyst

Skerdian Meta FXL’s Heading Analyst is a professional Forex trader and market analyst and has been actively engaged in market analysis for the past 10 years. Before becoming our leading analyst, Skerdian served as a trader and market analyst at Saxo Bank’s local branch, Aksioner, the forex division and traded small investor’s funds for two years.

Fact checked by:

Arslan Butt

Commodities & Indices Analyst

Arslan Butt, a financial expert with an MBA in Behavioral Finance, leads commodities and indices analysis. His experience as a senior analyst and market knowledge (including day trading) fuel his insightful work on cryptocurrency and forex markets, published in respected outlets like ForexCrunch.

Accordion Content

🏆 Top 4 Brokers

Account Minimum

$100

Pairs Offered

55+

Account Minimum

$1

Pairs Offered

240+

Account Minimum

$100

Pairs Offered

70+

Account Minimum

$0

Pairs Offered

50+

AvaTrade-Logo

Account Minimum

$15

Exclusive to SAShares Clients

Account Minimum

$1

Account Minimum

$100

Account Minimum

$0