Broker Reviews Overview

Updated: 12 August 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 (132)

21th

IG

Trader Rating
Strengths
  • Top-tier regulation
  • Inventor of spread betting
  • Award-winning trading platform & apps
  • Negative balance protection at zero extra cost
  • Massive market range (17,000+)
Weaknesses
  • No support for Skrill or Neteller
Note: 76.4% of Forex retail accounts lose money
22th

LegacyFX

Trader Rating
Strengths
  • MT5 trading
  • Good range of tradeable instruments across multiple asset classes
  • Excellent choice of account types
  • Client funds kept in segregated accounts
Weaknesses
  • Limited choice of cryptocurrencies
  • Limited number of indices available
  • No US clients
Note: 76.4% of Forex retail accounts lose money
23th

IQ Option

Trader Rating
Strengths
  • Low CFD fees
  • User-friendly trading platform
  • Easy account opening process
  • Low trading fees
  • Low minimum deposit
Weaknesses
  • Inactivity fee
  • Limited of educational resources
  • No support for MT4/MT5
Note: 76.4% of Forex retail accounts lose money
24th

Swissquote

Trader Rating
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
25th

Evestor

Trader Rating
Strengths
  • A friendly online interface that allows customers to easily interact with the company
  • Minimal investment risk and well-defined distribution of income
  • Diversified business plan and a wide choice of investments
  • Very flexible services
  • Regulated by the Financial Conduct Authority (FCA)
Weaknesses
  • No social media presence
  • The company’s limited presence in only a few countries
  • Censoring of payments and registration
Note: 76.4% of Forex retail accounts lose money
26th

Trade Nation

Trader Rating
Strengths
  • Fully regulated
  • Client funds are segregated
  • Good choice of forex pairs
  • Risk-free demo account
  • Spread trading on margin available
Weaknesses
  • Limited amount of instruments in some asset classes
  • No cryptocurrencies
  • No social trading
Note: 76.4% of Forex retail accounts lose money
27th

Moneta Markets

Trader Rating
Strengths
  • Offers a powerful in-house platform as well as MT4/5
  • Provides good leverage options, including as high as 500:1 in some cases
  • Offers a mobile app that can be downloaded on both iOS and Android
  • Gives customers a range of customer service options
  • Deposit bonus can be redeemed several times over, whether a trader is new or not
Weaknesses
  • Leverage levels vary considerably between asset classes, and are not always favourable to the trader
Note: 76.4% of Forex retail accounts lose money
28th

Skilling

Trader Rating
Strengths
  • The platform is easy to use for every type of traders from amateurs to professionals
  • Over 3,000 financial instruments to trade
  • Leverage above 1:30 available to professional traders
  • Transparent trading fees
  • You can open a live trading account for £100
Weaknesses
  • Available for just three years now so no real track history to support them
  • The cost of spreads is higher than other services in the market
Note: 76.4% of Forex retail accounts lose money
29th

VT Markets

Trader Rating
Strengths
  • Fully regulated
  • Segregated client funds in top-tier banks
  • Variety of tradeable instruments
  • Offers an ECN account
  • Excellent customer service
Weaknesses
  • Does not serve US clients
  • Cryptocurrencies not provided
  • Limited educational resources
Note: 76.4% of Forex retail accounts lose money
30th

CCTrader

Trader Rating
Strengths
  • They are an award-winning trading platform
  • Well-established company
  • Simple deposit and withdrawal methods
  • Has access to customer service via live chat, phone and web form
  • The minimum deposit is $0 unless you ask for a secure key
Weaknesses
  • They do not accept Paypal deposits
  • No demo trading available
Note: 76.4% of Forex retail accounts lose money