Broker Reviews Overview

Updated: 12 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)

21th

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
22th

Trendsmacro

Trader Rating
Open Demo Account Full Review
Strengths
  • Zero commissions and minimal spreads
  • 50 currency pairs and more than 45 CFDs
  • Customer support 24/5
  • No requotes
  • MT4 trading available
Weaknesses
  • No cryptocurrencies
  • CFDs not available on all instruments
  • High minimum deposit for premium accounts
Note: 76.4% of Forex retail accounts lose money
23th

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
24th

eToro

Trader Rating
Open Demo Account Full Review
Strengths
Weaknesses
  • High Forex spreads - not great for FX traders
  • Only supports one base account currency (USD)
  • $5 withdrawal fee
  • Offer does not apply to US users
67% of retail CFD accounts lose money
25th

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
26th

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
27th

IG

Trader Rating
Open Demo Account Full Review
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
Note: 76.4% of Forex retail accounts lose money
28th

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.
29th

VantageFX

Trader Rating
Open Demo Account Full Review
Strengths
  • Forex ECN and STP trading
  • Great selection of US/UK/EU/AU/HK stock CFDs
  • High levels of account and deposit protection
  • Quick execution speeds
  • Interesting bonuses and promotional offers
Weaknesses
  • Cryptocurrency trading options could be better
  • Only 40 currency pairs on offer
  • Limited support for exotic currency pair trading
Note: 76.4% of Forex retail accounts lose money
30th

Trade Nation

Trader Rating
Open Demo Account Full Review
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