Broker Reviews Overview

Updated: 14 April 2021

Choosing the perfect broker for you is an important first step on your trading journey. Like a good pair of gloves, your broker of choice should be a suitable fit for you. But with so many brokers out there today, where do you start? Here at AskTraders, our expert team of trading professionals has taken care of all the hard work for you. We’ve reviewed and ranked our trusted broker partners to save you hours of research. Along the way, we’ve looked at everything from account types and features, to trading fees and FCA regulation and condensed all of this information into a handy snapshot overview.


AskTraders broker reviews Ranking (129)

11th

ForexTB

Trader Rating
Open Demo Account Full Review
Strengths
  • 0% trading commissions
  • No fees on deposits
  • 24/5 support
  • Dedicated account manager
  • Free signals from Trading Central
Weaknesses
  • Limited amount of asset classes
  • High minimum deposit on premium accounts
  • No bonus offered
Note: 76.4% of Forex retail accounts lose money
12th

Wealthify

Trader Rating
Open Demo Account Full Review
Strengths
  • Fully automated investment service
  • Five plans available to suit all investors, including ethical investing
  • Customer service options include phone, email and live chat
  • Minimum deposit of £1 to open an account
  • Backing from major financial organisations
Weaknesses
  • Fees are not the lowest available for large investors
  • No pension product
  • No customer support on Saturday afternoon and Sunday
Note: 76.4% of Forex retail accounts lose money
13th

CEX.IO

Trader Rating
Open Demo Account Full Review
Strengths
  • Their transparent pricing structure for all products
  • They have fast approval times for account opening and identity verification
  • They provide quick access to digital coins
Weaknesses
  • High fees for deposits with credit card
Note: 76.4% of Forex retail accounts lose money
14th

Swissquote

Trader Rating
Open Demo Account Full Review
Strengths
  • Excellent robo advisory service on offer
  • Well-regulated broker with stringent customer trust and safety practices
  • No inactivity fees on accounts
  • Excellent brand reputation
Weaknesses
  • Not the most competitive spreads out there
  • Social trading features could be better
  • Limited withdrawal and deposit options
Note: 76.4% of Forex retail accounts lose money
15th

InstaForex.eu

Trader Rating
Open Demo Account Full Review
Strengths
  • Lots of different types of account and fee structures to choose from
  • Reliable customer support service options with lots of choices
  • Range of asset classes including over 100 forex pairs and a selection of commodities and crypto assets
  • No deposit fees are charged
Weaknesses
  • Not many offers available for traders to pick from
  • Lots are defined differently from the industry standard
  • No offer of MetaTrader 5 for platforms
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.24% of retail investor accounts lose money when trading CFDs with this provider.
16th

Core Spreads

Trader Rating
Open Demo Account Full Review
Strengths
  • Competitive fees
  • They are regulated by the FCA; hence, investments of their traders are secured
  • Excellent choice of trading platforms
  • Wide range of assets
Weaknesses
  • Only two types of accounts available for their traders
  • They do not provide any education
Note: 76.4% of Forex retail accounts lose money
17th

StormGain

Trader Rating
Open Demo Account Full Review
Strengths
  • Multilingual website
  • Loyalty program and bonuses
  • Security
  • Ability to buy cryptocurrency using bank cards
  • 24/7 customer support
Weaknesses
  • Replenishment of accounts only possible with cryptocurrencies
  • StormGain is currently not regulated. However, the StormGain legal team provides adequate control
  • Only cryptocurrencies can be withdrawn from the platform
Note: 76.4% of Forex retail accounts lose money
18th

LonghornFX

Trader Rating
Open Demo Account Full Review
Strengths
  • Uses an electronic communication network (ECN) to place trades
  • Offers round-the-clock customer support, seven days a week
  • Provides a demo account for traders to use for practice before trading for real
Weaknesses
  • Does not provide the latest version of MetaTrader, MetaTrader 5 — only version 4
  • Some commissions are charged — though they are low
Note: 76.4% of Forex retail accounts lose money
19th

Smarkets

Trader Rating
Open Demo Account Full Review
Strengths
  • Strong app and clean, concise website functionalities
  • UKGC and MGA licensed and regulated
  • Different payment methods, including Neteller and Skrill
Weaknesses
Note: 76.4% of Forex retail accounts lose money
20th

Admiral Markets Review

Trader Rating
Open Demo Account Full Review
Strengths
  • Impressive education and solid research
  • Impressive range of assets to trade
  • MT4/ MT5 platforms do have add ins
Weaknesses
  • No bespoke platform, MT4/ MT5 only
  • Demo account expires after 30 days
  • Trading commissions on some accounts
Note: 76.4% of Forex retail accounts lose money