17 Best Forex Brokers Execution Speed

Order execution speed refers to the time in between sending an order to a broker and receiving the answer from it.  When a trader presses the buy/sell button, the broker will take their order and try to find a match with it through its liquidity providers.  Under normal circumstances, the process may take milliseconds depending on the quality of the brokers’ software and the strength and number of the liquidity providers available.

Here is an overview, in no particular order, of the 17 Best Forex Brokers according to execution speed.

Tickmill

Tickmill is a Forex and CFD broker with licences from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). Tickmill offers trading on 80+ markets covering Forex, Indices, Commodities and Bonds on the MetaTrader 4 trading platform for Windows, Mac, Web, Android and iOS.

 Three main trading accounts called the Pro Account, Classic Account and VIP Account is on offer, each which offers different minimum balances, maximum leverage, spreads and commissions respectively. Demo trading and Islamic swap-free accounts are also made available.

Multilingual client service is available via Telephone, Email, Online Contact Form and Live Chat.

Alpari

Alpari with its long-standing brand history, numerous offices, range of account types and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms.  Alpari is regulated by the FSC.

Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker.  The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.

Alpari offers traders more than 250 tradable assets to trade across Forex, Stocks, Indices, Metals, Cryptocurrencies and Futures on the MetaTrader suite of trading platforms.

In addition to a demo account, 4 more accounts are on offer. These 4 accounts are divided into standard accounts and enhanced accounts, which are known as ECN types.  The standard account options are available as a basic option and are known as the MT4 MicroAccount and the standard MT4 account. Islamic Accounts are also made available.  The accounts more suited to experienced traders are the standard ECN account and the ECN Pro Account, which offer instant execution.

Customer Service is available via live chat, email and phone service.

FBS

FBS is a Forex and CFD broker offering to trade on Forex, Indices, Stocks, Metals and Energies on the MetaTrader 4, MetaTrader 5 and FBS Trader trading platforms for PC, Mac, Web, Android and iOS with a maximum 1:3000 leverage.  FBS is regulated by CySEC and IFSC.

FBS offers traders a choice of four accounts and all accounts offer market execution and the chance to trade in micro lots in Cent accounts for more precise risk management.

FBS also provides traders with swap-free accounts (also known as Islamic accounts), that do not contradict with the teachings of Islam.  FBS offers customer support 24 hours a day, 7 days a week via a Call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.

IC Markets

IC Markets is a regulated Forex ECN and CFD broker which offers more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks and Futures on the MetaTrader 4, MetaTrader 5 and cTrader platforms for desktop, web and mobile.  IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).

IC Markets offers traders three main types of live trading accounts to choose from, including  Raw Spread (cTrader), Raw Spread (MetaTrader) and the Standard Account (MetaTrader). Islamic swap-free accounts and the use of a free demo trading account is also on offer.

Customer support is available 24/7 via Live Chat, Phone and Email.

Roboforex

Roboforex are an online, global broker which was founded in 2009 and offers traders Forex and CFDs trading.  RoboForex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS.

When starting off with Roboforex traders will need to make a minimum deposit of $1 and there is an option available for a demo account for those who would like to get acquainted with the platform.  Roboforex can accommodate various levels of traders, from experienced to beginner, and they can trade a wide variety of instruments and currency pairs.  Roboforex offers over 100 instruments and over 35 currency pairs in total.

Roboforex offers traders both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.   Roboforex also offer mobile apps for Android and iOS.

Roboforex Trading benefits:

• Allows scalping
• Allows hedging
• Offers STP
• Low min deposit

Roboforex Trading Accounts include – Demo, Micro, Mini, Standard, Zero, ECN, STP and Islamic.

Customer support is available via phone, Webchat, Wechat, Skype, Viber, Telegram, Facebook chat, WhatsApp, email and a call-back request.

Pepperstone

Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA).

Pepperstone offers traders a variety of trading accounts to choose from including Razor, Standard and Swap-Free, and –

Boasts three top forex trading platforms:

• MetaTrader 4: Most Popular for Forex Trading
• MetaTrader 5: Most Popular CFDs Trading Platform
• cTrader: Best Automated Trading Platform

All three FX trading platforms come with a free demo account which will allow traders to test out the forex broker and platform for 30 days.

Platform enhancements available for Pepperstone include:

• MetaTrader 4 smart trader tools
• cTrader Automate
• Autochartist and
• API trading

A range of options for depositing funds are available, including: Bank wire transfer, MasterCard, Visa credit card, PayPal, Neteller, Skrill and QIWI.

Pepperstone offers 24/5 multiple language support via email, phone and live chat.

Forex Time (FXTM)

FXTM or ForexTime was founded in 2011 and  is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary.  Three accounts are offered under the Standard category.  FXTM  also offers swap free and Islamic certified accounts.  Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

FXTM offers traders the opportunity to trade in the following markets:

• Forex
• Cryptocurrencies (Bitcoin, Ethereum, Litecoin etc) Please take Note: FXTM offers crypto trading via Exinity Limited and Instruments on offer are based on a traders country of residence.
• CFDs for Indices and Commodities (FTSE, DAX, Nasdaq etc)
• Spot metals (Gold, Silver)
• Shares CFDs (Apple, BP, Google etc)

FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.

Customer Service is available phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.

HotForex

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.  With HotForex, there is no “Islamic Account Type” available to choose from, but traders can have an Islamic swap free condition with either Micro, Premium, Currenex, VIP or Fix account.

The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

Hotforex’s Metatrader offers a fast order execution, news feed, multiple order types, support for EAs.

Key features include:

• Supports:  MT4, MT5 for desktop, web & mobile
• Minimum deposit:  $5
• Leverage:  1:1000
• Trading Instruments:  Forex, Cryptocurrencies, CFDs on Stock Indices, Commodities, metals

Customer support is available via phone and email.

FP Markets

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

FP Markets Trading benefits include:

• Allows scalping
• Allows hedging
• Offers STP
• Low min deposit
• Offers Negative Balance Protection

FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.  FP Markets does offer traders Islamic accounts but Swap-free Islamic accounts are available on request and only after setting up one of the regular MT4 or MT5 Forex accounts. Once the request is approved, they will convert a traders regular account to an Islamic account.

Customer Service is available via email, phone and live chat.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.31% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXCM South Africa (FXCM ZA)

Forex Capital Markets Limited or FXCM is a CFD and Forex trading broker, authorised and regulated by the Financial Sector Conduct Authority in South Africa under the FXCM South Africa (PTY) LTD and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinaTrader and ZuluTrade.

FXCM ZA offers traders 4 main types of trading accounts to choose from, including FX , CFD Trading and Active Trader. A Free Demo account is also made available.

FXCM ZA offers traders 3 main types of trading accounts to choose from namely a Demo account, a FX/CD account and an Active Trader account.

Customer Support is available via Live Chat, Phone, Email and SMS.

FXCM’s service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.

Rakuten Securities

Rakuten Securities is an Australia-based forex and CFD broker regulated by the Australian Securities and Investments Commission (ASIC).

Account Types on offer:

• Standard Individual
• Islamic / Swap Free
• Corporate

MetaTrader4 is available as either a mobile or desktop trading platform.  Traders should note, a web trading platform is not made available.

Markets and Products available to trade include:

• Over 40 Currency Pairs
• 10 Stock Index CFDs
• Commodity CFDs

Customer Support is made available via live chat, phone and email respectively.

Intertrader

Regulation: GFSC

Intertrader is a Gibraltar regulated, UK-based brokerage which gives traders access to stock indices, currencies, individual shares, commodities, interest rates and more.

Intertrader Trading Platforms include the companies own proprietary trading platform and MetaTrader4.

Type of Broker:                                 No Dealing Desk

Maximum Leverage:                      1:400

• No Islamic account on offer
• EFTs / Binary Options not on offer

Customer Support is made available 24/5 via phone, call-back and email.

Just2Trade

Regulated:          CySEC

Type:                     ECN, STP

Min Deposit:     $100

Account types on offer include:

• Individual
• Joint with Rights of Survivorship
• Joint with Tenants in Common
• Custodial
• Traditional IRA
• Roth IRA
• Rollover
• SEP IRA
• Corporate
• Limited Liability
• Partnership
• Sole Proprietorship
• Trust

Paired with access to multiple third-party futures trading platforms including Sterling Trader Pro, CQG Trader, OEC Trader, and the iBroker mobile app, with access to demo versions.

Assets and Markets on offer includes: stocks (both US and international), ADRs, ETFs, futures, futures options, mutual funds, and bonds.

Customer Support is available via telephone, fax, email, and live chat.

ATFX

ATFX is an online Forex trading, CFDs and spread betting broker regulated by the Financial Conduct Authority (FCA).  Account Types on offer includes:  Standard, Edge and Premium, paired with the ever popular MetaTrader4 trading platform.

Users can trade across:

• 43 different Forex trading pairsincluding exotics, minors, and majors.
• Precious Metals – specifically London Silver or London Gold.
• Crude oil
• Commodity-based oil ETFs.
• 15 variations of share indices available from the US, Europe, and Asia.
• Several forms of cryptocurrency CFDs.
• Other categories include metals, indices, cryptos, shares, and oil.

Customer Support is available via phone and email respectively.

FXOpen

FXOpen is an ECN forex broker, authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom.

Account Types on offer include:

• STP
• ECN
• Crypto

Partnered with the MetaTrader4, MetaTrader5 and TickTrader trading platforms.  TickTrader is on offer specifically for non-UK customers.  FXOpen offers four key markets:

• Currencies:                        Over 50 major, minor, and exotic currency pairs.
• Indices:                               Nine global indices including the FTSE 100 and S&P 500.
• Commodities:                  Energy and metals such as gold, silver, and crude oil.
• Cryptocurrencies:           Over 40 crypto CFDs including Bitcoin, Ethereum, and Ripple.

Customer Support is made available via Email, Help Centre, Customer Support Phone Number, Trading Desk and Live Chat.

GO Markets

GO Markets is a forex broker and CFD provider, regulated and licensed by the Australian Securities and Investments Commission (ASIC).

GO Markets offer two account types: Standard and GO Plus+ partnered with the following trading platforms.

• MetaTrader4
• MetaTrader5
• WebTrader
• Myfxbook

350 Products are available for trade across 6 main Markets:

• Currencies:                 50+ major, minor and exotic currency pairs, including AUD/USD, EUR/GBP and USD/CNH

• Share CFDs:                       Long and short with over 200+ ASX shares and 80+ NYSE and NASDAQ shares

• Index CFDs:                       Long and short with 13 Cash CFDs and 2 Futures CFDs, including FTSE 100, CAC 40, US 500 and ASX 200

• Precious metals:             Gold and silver CFDs with long or short positions
• Commodities:                  Including precious metals as well as crude oil.
• Cryptocurrencies:           Bitcoin, Bitcoin Cash, Ethereum, Ripple & Litecoin.

Binary options are also on offer.

Customer Support is made available via Email, Live Chat and Phone.

Axi

Axi is an Australian based Forex, CFDs and Indices broker, authorised and regulated by the Financial Conduct Authority.  Axi offers over 102 different instruments to trade, including over 80 currency pairs across 7 account types, paired with the ever popular MetaTrader4 Trading Platform.

Account Types include:

• Demo account
• Micro account
• Mini account
• Standard account
• Zero spread account
• ECN account
• Islamic account

Axi support a wide range of languages including English, Chinese, Spanish, Thai, Italian, Polish, German, Vietnamese, Japanese, Russian, Romanian, and Arabic.

How to Test the Order Execution Speed of Forex Brokers

There are two types of orders:

Limit:                                    Which includes buy limit, sell limit, buy stop, and sell stops.

Market orders:                 Which happens when a trader wants to open a position at the market price

or instantly.

Testing Limit Orders

For limit orders, traders can make use of an EA called Ex Test For Expat which places several limit orders, buy and sell,  calculating the time between the sending of  orders and receiving an answer or executing the orders. This is a helpful examination for traders who run EAs which place several limit orders in a very short time period, so speed is crucial,  especially in highly volatile situations.

Testing Market Orders

 Having a fast market order execution is not only important for the traders who run EAs but it can also be of value for scalpers who are trying to get a few pips out of the market and milliseconds matter in some trades.  The fewer pips a trader tries to get in trades the more important execution speed becomes, especially in volatile situations.  For testing market order execution speed, traders can use an EA called Broker Latency Tester. It will open 25 positions at the market price and shows the average speed of the last 20 orders.

In Conclusion

After testing each broker several times over a one-month period, traders will be able to follow the numbers and make an informed choice.