Top 5 Brokers Ranked by WikiFX

Choosing the right forex broker is another field of knowledge that every forex trader and/or investor should be equipped with. This is to prevent falling into the traps of scammers or fraudsters who disguise themselves as a forex broker. Protecting your capital is not only limited to practical execution but also in entrusting the right brokerage firm.

Let us start from the bottom up.

Number 5:

TMGM is a Sydney-based forex broker that was founded in 2013. It not only offers the trading of forex but also cryptocurrencies.

Number 4:

Located in Melbourne (Australia), GO Markets is a regulated broker founded in 2006, that offers Standard and ECN accounts with low trading fees for CFDs.

Number 3:

IC Markets is a forex broker that has gained popularity for offering little to 0 spreads. It was founded in 2009 and has now grown a large customer base of over 5 million users globally.

Number 2:

XM is an award-winning forex broker that was founded in 2009 that focuses on forex and CFDs trading. The reason why it is one of the most sought after brokers is because of its highly regulated status by top-tier regulators in the world, as well as having held several valid licenses.

Number 1:

Established in 1999, Rakuten Securities is a highly reputable forex broker firm in Australia. It is regulated by the top-tier regulatory body ASIC, paired with its fairly long record of operation, make it one of the most reliable forex brokers in the industry.