Broker Reviews Overview

Updated: 13 January 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 (124)

21th

Pepperstone

Trader Rating
Open Demo Account Full Review
Strengths
  • Regulated by the FCA and ASIC
  • Offers multiple free deposit methods
  • Excellent customer service
Weaknesses
  • Product offering below average
  • Does not offer own trading platform
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
22th

FXTM

Trader Rating
Open Demo Account Full Review
Strengths
  • FCA and global regulation
  • Strong education
  • Numerous account types
Weaknesses
  • Does not offer own trading platform
  • Disappointing number of markets
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% 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.
23th

Trade360

Trader Rating
Open Demo Account Full Review
Strengths
  • Huge range of CFDs and stocks to trade
  • Innovative CrowdTrading platform
  • Easy to use website/software
  • Dedicated mobile app
  • Customer support available 24/5
Weaknesses
  • Entry-level traders can’t access MT5
  • No crypto trading
  • Not an extensive selection of forex pairs to trade
Note: 76.4% of Forex retail accounts lose money
24th

Wealth Horizon

Trader Rating
Open Demo Account Full Review
Strengths
  • Customised and personal advice
  • Downloadable investment proposal
  • Status updates available anytime
  • Consistently recognised as a top ten robo-advisor
  • Minimal client interaction required
Weaknesses
  • No demo account or low investment option to test service with
  • Unclear deposit methods and withdrawal time
  • No weekend or evening customer support
Note: 76.4% of Forex retail accounts lose money
25th

Binance

Trader Rating
Open Demo Account Full Review
Strengths
  • Availability of all major coins, including ETH, BTC, BNB, LTC, and so on.
  • Incredibly low trading fee – just 0.1%
  • The exchange has the capability of processing up to 1.4 million orders in a second.
  • supports several languages, too, including Chinese, Japanese, English, and Korean.
  • Advanced trading platforms
Weaknesses
  • The platform is a bit buggy.
  • Their customer support is quite slow.
  • Until lately, there was no support for Fiat.
Note: 76.4% of Forex retail accounts lose money
26th

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
27th

IQ Option

Trader Rating
Open Demo Account Full Review
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
28th

Evestor

Trader Rating
Open Demo Account Full Review
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
29th

IC Markets

Trader Rating
Open Demo Account Full Review
Strengths
  • Equinix NY4 order matching engine makes it perfect for automated trading
  • Raw spread accounts with trading from 0.0 pips
  • Free demo account
  • Average EUR/USD spreads from 0.1
  • Quick execution speed with trades completed on average under 40ms
Weaknesses
  • Caters mainly to the Australian market
  • No major awards
  • Limited exotic currency pairs
Note: 76.4% of Forex retail accounts lose money
30th

Fidelity

Trader Rating
Open Demo Account Full Review
Strengths
  • Huge selection of financial instruments to choose from
  • Competitive fee structure
  • Quality proprietary trading platform
  • Very security conscious platform
Weaknesses
  • The proprietary trading platform is not accessible straight away
Note: 76.4% of Forex retail accounts lose money