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Stefan de Clerk
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Stefan de Clerk
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Stefan de Clerk
Financial Writer
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Alison Heyerdahl
Head of Content

<p>Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.</p>

Learn more about Alison Heyerdahl

Forex Broker Review Directory

Reading time: 60 min
Brand
Regulated by FSCA
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Broker
4XC
No
Visit Broker
N/A of retail CFD accounts lose money
AAFX Trading
No
Visit Broker
N/A of retail CFD accounts lose money
ActivTrades
No
Visit Broker
0.83 of retail CFD accounts lose money
ACY Securities
Yes
Visit Broker
N/A of retail CFD accounts lose money
Admirals
Yes
Visit Broker
76% of retail CFD accounts lose money
ADSS
No
Visit Broker
74% of retail CFD accounts lose money
AETOS Markets
No
Visit Broker
73.64% of retail CFD accounts lose money
AGEA
No
Visit Broker
N/A of retail CFD accounts lose money
Alpari
No
Visit Broker
of retail CFD accounts lose money
Alpho
No
Visit Broker
N/A of retail CFD accounts lose money
Alvexo
No
Visit Broker
N/A of retail CFD accounts lose money
Amana Capital
No
Visit Broker
72% of retail CFD accounts lose money
AMarkets
No
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N/A of retail CFD accounts lose money
ATC Brokers
No
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N/A of retail CFD accounts lose money
ATFX
No
Visit Broker
74.07% of retail CFD accounts lose money
AvaTrade
Yes
Visit Broker
76% of retail CFD accounts lose money
Axi
No
Visit Broker
68.01% of retail CFD accounts lose money
Axiory
No
Visit Broker
N/A of retail CFD accounts lose money
BDSwiss
No
Visit Broker
N/A of retail CFD accounts lose money
Binarium
No
Visit Broker
N/A of retail CFD accounts lose money
BKFX
Yes
Visit Broker
N/A of retail CFD accounts lose money
BlackBull Markets
No
Visit Broker
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage
Blackwell Global
No
Visit Broker
76.00% of retail CFD accounts lose money
Boston Merchant Financial
No
Visit Broker
of retail CFD accounts lose money
Capital Index
No
Visit Broker
84% of retail CFD accounts lose money
Capital.com
No
Visit Broker
65% of retail CFD accounts lose money
Charterprime
No
Visit Broker
N/A of retail CFD accounts lose money
CityIndex
No
Visit Broker
72% of retail CFD accounts lose money
CMC Markets
No
Visit Broker
68% of retail CFD accounts lose money
Conotoxia
No
Visit Broker
N/A of retail CFD accounts lose money
Darwinex
No
Visit Broker
76% of retail CFD accounts lose money
DBFX
No
Visit Broker
N/A of retail CFD accounts lose money
Dukascopy
No
Visit Broker
68.82% of retail CFD accounts lose money
easyMarkets
No
Visit Broker
74% of retail CFD accounts lose money
Eightcap
No
Visit Broker
71.28% of retail CFD accounts lose money
Elev8
No
Visit Broker
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage
Errante
No
Visit Broker
40.30% of retail CFD accounts lose money
ETFinance
Yes
Visit Broker
N/A of retail CFD accounts lose money
Etiq Market
No
Visit Broker
N/A of retail CFD accounts lose money
eToro
No
Visit Broker
52% of retail CFD accounts lose money
Exness
Yes
Visit Broker
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage
FBS
No
Visit Broker
70.72% of retail CFD accounts lose money
Fibo Group
No
Visit Broker
58% of retail CFD accounts lose money
Fondex
No
Visit Broker
83.57% of retail CFD accounts lose money
Forex 4 You
No
Visit Broker
N/A of retail CFD accounts lose money
Forex Chief
No
Visit Broker
N/A of retail CFD accounts lose money
Forex EE
No
Visit Broker
N/A of retail CFD accounts lose money
Forex Mart
No
Visit Broker
60% of retail CFD accounts lose money
FOREX.com
No
Visit Broker
77% of retail CFD accounts lose money
Fort Financial Services
No
Visit Broker
70.11% of retail CFD accounts lose money
Fortissio
No
Visit Broker
75.04% of retail CFD accounts lose money
Fortrade
No
Visit Broker
67% of retail CFD accounts lose money
FP Markets
Yes
Visit Broker
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage
FPM Trading
No
Visit Broker
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. There is a possibility to lose all your initial capital.
FreshForex
No
Visit Broker
of retail CFD accounts lose money
Fusion Markets
No
Visit Broker
89% of retail CFD accounts lose money
FX Choice
No
Visit Broker
N/A of retail CFD accounts lose money
FX Giants
No
Visit Broker
71.03% of retail CFD accounts lose money
FX Glory
No
Visit Broker
N/A of retail CFD accounts lose money
FX Open
No
Visit Broker
60% of retail CFD accounts lose money
FXCC
No
Visit Broker
66% of retail CFD accounts lose money
FXCL
No
Visit Broker
N/A of retail CFD accounts lose money
FXCM
No
Visit Broker
67% of retail CFD accounts lose money
FXDD
No
Visit Broker
69.7% of retail CFD accounts lose money
FXGM
No
Visit Broker
88% of retail CFD accounts lose money
FXGT
Yes
Visit Broker
N/A of retail CFD accounts lose money
FXPIG
No
Visit Broker
N/A of retail CFD accounts lose money
FxPrimus
No
Visit Broker
64.54% of retail CFD accounts lose money
FxPro
Yes
Visit Broker
75% of retail CFD accounts lose money
Global GT
Yes
Visit Broker
N/A of retail CFD accounts lose money
Global Prime
No
Visit Broker
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage
Globex360
Yes
Visit Broker
N/A of retail CFD accounts lose money
Golden Brokers Ltd
No
Visit Broker
N/A of retail CFD accounts lose money
GrandCapital
No
Visit Broker
N/A of retail CFD accounts lose money
GT247
Yes
Visit Broker
N/A of retail CFD accounts lose money
GTCM
No
Visit Broker
N/A of retail CFD accounts lose money
Hantec Markets
No
Visit Broker
66.79% of retail CFD accounts lose money
HF Markets
Yes
Visit Broker
72.83% of retail CFD accounts lose money
HFM
Yes
Visit Broker
72.90% of retail CFD accounts lose money
Hugo’s Way FX
No
Visit Broker
N/A of retail CFD accounts lose money
HYCM
No
Visit Broker
74% of retail CFD accounts lose money
IC Markets
No
Visit Broker
72.31% of retail CFD accounts lose money
ICM Capital
No
Visit Broker
N/A of retail CFD accounts lose money
IFC Markets
No
Visit Broker
of retail CFD accounts lose money
IFX Brokers
Yes
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of retail CFD accounts lose money
IG
Yes
Visit Broker
70% of retail CFD accounts lose money
IKOFX
No
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of retail CFD accounts lose money
Infinox
Yes
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83.14% of retail CFD accounts lose money
Interactive Brokers
No
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N/A of retail CFD accounts lose money
Intertrader
No
Visit Broker
73% of retail CFD accounts lose money
IQ Option
No
Visit Broker
85% of retail CFD accounts lose money
IronFX
Yes
Visit Broker
65.43% of retail CFD accounts lose money
iTrader
No
Visit Broker
N/A of retail CFD accounts lose money
JP Markets
Yes
Visit Broker
N/A of retail CFD accounts lose money
JustMarkets
No
Visit Broker
N/A of retail CFD accounts lose money
Khwezi Trade
Yes
Visit Broker
of retail CFD accounts lose money
Kimura Trading
No
Visit Broker
N/A of retail CFD accounts lose money
LandFX
No
Visit Broker
N/A of retail CFD accounts lose money
LCG
No
Visit Broker
76% of retail CFD accounts lose money
LegacyFX
No
Visit Broker
68% of retail CFD accounts lose money
Libertex
No
Visit Broker
83% of retail CFD accounts lose money
LiteFinance
No
Visit Broker
81% of retail CFD accounts lose money
LMFX
No
Visit Broker
71.11% of retail CFD accounts lose money
LQD FX
No
Visit Broker
N/A of retail CFD accounts lose money
markets.com
Yes
Visit Broker
74% of retail CFD accounts lose money
Merit Forex
No
Visit Broker
N/A of retail CFD accounts lose money
Mt Cook
Yes
Visit Broker
N/A of retail CFD accounts lose money
MultiBank
No
Visit Broker
N/A of retail CFD accounts lose money
NAGA
No
Visit Broker
77.41% of retail CFD accounts lose money
NBH Markets Ltd
No
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of retail CFD accounts lose money
NordFX
No
Visit Broker
66.67% of retail CFD accounts lose money
NPBFX
No
Visit Broker
of retail CFD accounts lose money
NSFX
No
Visit Broker
of retail CFD accounts lose money
number 1 Capital Markets
No
Visit Broker
of retail CFD accounts lose money
Oanda
No
Visit Broker
73.5% of retail CFD accounts lose money
Octa
Yes
Visit Broker
67.65% of retail CFD accounts lose money
OMF
No
Visit Broker
of retail CFD accounts lose money
Orbex
No
Visit Broker
of retail CFD accounts lose money
Pacific Financial Derivatives Ltd
No
Visit Broker
of retail CFD accounts lose money
PaxForex
No
Visit Broker
of retail CFD accounts lose money
Pepperstone
No
Visit Broker
72.9% of retail CFD accounts lose money
Plus500
No
Visit Broker
79% of retail CFD accounts lose money
Price Markets
No
Visit Broker
64.4% of retail CFD accounts lose money
Purple Trading
No
Visit Broker
66.57% of retail CFD accounts lose money
Quicktrade
Yes
Visit Broker
N/A of retail CFD accounts lose money
Rakuten Securities
No
Visit Broker
of retail CFD accounts lose money
RoboForex
No
Visit Broker
58.42% of retail CFD accounts lose money
roinvesting
No
Visit Broker
of retail CFD accounts lose money
Saxo
No
Visit Broker
59.00% of retail CFD accounts lose money
Scandinavian Capital Markets
No
Visit Broker
N/A of retail CFD accounts lose money
Simple FX
No
Visit Broker
78.00% of retail CFD accounts lose money
Skilling
No
Visit Broker
70% of retail CFD accounts lose money
Spreadex
No
Visit Broker
61.00% of retail CFD accounts lose money
SquaredFinancial
No
Visit Broker
79% of retail CFD accounts lose money
Super Forex
No
Visit Broker
of retail CFD accounts lose money
Swissquote
No
Visit Broker
79% of retail CFD accounts lose money
TD Ameritrade
No
Visit Broker
of retail CFD accounts lose money
TD Markets
Yes
Visit Broker
79% of retail CFD accounts lose money
ThinkMarkets
Yes
Visit Broker
66.66% of retail CFD accounts lose money
Tickmill
Yes
Visit Broker
74% of retail CFD accounts lose money
Tifia
No
Visit Broker
N/A of retail CFD accounts lose money
Trade Nation
Yes
Visit Broker
57.1% of retail CFD accounts lose money
Trade.com
Yes
Visit Broker
71.36% of retail CFD accounts lose money
Trade360
No
Visit Broker
69.7% of retail CFD accounts lose money
TradeATF
No
Visit Broker
79.19% of retail CFD accounts lose money
Tradersway
No
Visit Broker
of retail CFD accounts lose money
TradeView Markets
No
Visit Broker
N/A of retail CFD accounts lose money
Trading 212
No
Visit Broker
76% of retail CFD accounts lose money
TrioMarkets
No
Visit Broker
73.6% of retail CFD accounts lose money
TurboForex
No
Visit Broker
N/A of retail CFD accounts lose money
UFX
No
Visit Broker
79.74% of retail CFD accounts lose money
USGFX
Yes
Visit Broker
N/A of retail CFD accounts lose money
Valutrades
No
Visit Broker
62% of retail CFD accounts lose money
Vantage
Yes
Visit Broker
of retail CFD accounts lose money
Weltrade
No
Visit Broker
of retail CFD accounts lose money
XM
No
Visit Broker
74.3% of retail CFD accounts lose money
XTB
No
Visit Broker
72.00% of retail CFD accounts lose money
xtrade
Yes
Visit Broker
N/A of retail CFD accounts lose money
Zero Markets
No
Visit Broker
N/A of retail CFD accounts lose money
Brand
4XC
Regulated by FSCA
No
Brand
AAFX Trading
Regulated by FSCA
No
Brand
ActivTrades
Regulated by FSCA
No
Brand
ACY Securities
Regulated by FSCA
Yes
Brand
Admirals
Regulated by FSCA
Yes
Brand
ADSS
Regulated by FSCA
No
Brand
AETOS Markets
Regulated by FSCA
No
Brand
AGEA
Regulated by FSCA
No
Brand
Alpari
Regulated by FSCA
No
Brand
Alpho
Regulated by FSCA
No
Brand
Alvexo
Regulated by FSCA
No
Brand
Amana Capital
Regulated by FSCA
No
Brand
AMarkets
Regulated by FSCA
No
Brand
ATC Brokers
Regulated by FSCA
No
Brand
ATFX
Regulated by FSCA
No
Brand
AvaTrade
Regulated by FSCA
Yes
Brand
Axi
Regulated by FSCA
No
Brand
Axiory
Regulated by FSCA
No
Brand
BDSwiss
Regulated by FSCA
No
Brand
Binarium
Regulated by FSCA
No
Brand
BKFX
Regulated by FSCA
Yes
Brand
BlackBull Markets
Regulated by FSCA
No
Brand
Blackwell Global
Regulated by FSCA
No
Brand
Boston Merchant Financial
Regulated by FSCA
No
Brand
Capital Index
Regulated by FSCA
No
Brand
Capital.com
Regulated by FSCA
No
Brand
Charterprime
Regulated by FSCA
No
Brand
CityIndex
Regulated by FSCA
No
Brand
CMC Markets
Regulated by FSCA
No
Brand
Conotoxia
Regulated by FSCA
No
Brand
Darwinex
Regulated by FSCA
No
Brand
DBFX
Regulated by FSCA
No
Brand
Dukascopy
Regulated by FSCA
No
Brand
easyMarkets
Regulated by FSCA
No
Brand
Eightcap
Regulated by FSCA
No
Brand
Elev8
Regulated by FSCA
No
Brand
Errante
Regulated by FSCA
No
Brand
ETFinance
Regulated by FSCA
Yes
Brand
Etiq Market
Regulated by FSCA
No
Brand
eToro
Regulated by FSCA
No
Brand
Exness
Regulated by FSCA
Yes
Brand
FBS
Regulated by FSCA
No
Brand
Fibo Group
Regulated by FSCA
No
Brand
Fondex
Regulated by FSCA
No
Brand
Forex 4 You
Regulated by FSCA
No
Brand
Forex Chief
Regulated by FSCA
No
Brand
Forex EE
Regulated by FSCA
No
Brand
Forex Mart
Regulated by FSCA
No
Brand
FOREX.com
Regulated by FSCA
No
Brand
Fort Financial Services
Regulated by FSCA
No
Brand
Fortissio
Regulated by FSCA
No
Brand
Fortrade
Regulated by FSCA
No
Brand
FP Markets
Regulated by FSCA
Yes
Brand
FPM Trading
Regulated by FSCA
No
Brand
FreshForex
Regulated by FSCA
No
Brand
Fusion Markets
Regulated by FSCA
No
Brand
FX Choice
Regulated by FSCA
No
Brand
FX Giants
Regulated by FSCA
No
Brand
FX Glory
Regulated by FSCA
No
Brand
FX Open
Regulated by FSCA
No
Brand
FXCC
Regulated by FSCA
No
Brand
FXCL
Regulated by FSCA
No
Brand
FXCM
Regulated by FSCA
No
Brand
FXDD
Regulated by FSCA
No
Brand
FXGM
Regulated by FSCA
No
Brand
FXGT
Regulated by FSCA
Yes
Brand
FXPIG
Regulated by FSCA
No
Brand
FxPrimus
Regulated by FSCA
No
Brand
FxPro
Regulated by FSCA
Yes
Brand
Global GT
Regulated by FSCA
Yes
Brand
Global Prime
Regulated by FSCA
No
Brand
Globex360
Regulated by FSCA
Yes
Brand
Golden Brokers Ltd
Regulated by FSCA
No
Brand
GrandCapital
Regulated by FSCA
No
Brand
GT247
Regulated by FSCA
Yes
Brand
GTCM
Regulated by FSCA
No
Brand
Hantec Markets
Regulated by FSCA
No
Brand
HF Markets
Regulated by FSCA
Yes
Brand
HFM
Regulated by FSCA
Yes
Brand
Hugo’s Way FX
Regulated by FSCA
No
Brand
HYCM
Regulated by FSCA
No
Brand
IC Markets
Regulated by FSCA
No
Brand
ICM Capital
Regulated by FSCA
No
Brand
IFC Markets
Regulated by FSCA
No
Brand
IFX Brokers
Regulated by FSCA
Yes
Brand
IG
Regulated by FSCA
Yes
Brand
IKOFX
Regulated by FSCA
No
Brand
Infinox
Regulated by FSCA
Yes
Brand
Interactive Brokers
Regulated by FSCA
No
Brand
Intertrader
Regulated by FSCA
No
Brand
IQ Option
Regulated by FSCA
No
Brand
IronFX
Regulated by FSCA
Yes
Brand
iTrader
Regulated by FSCA
No
Brand
JP Markets
Regulated by FSCA
Yes
Brand
JustMarkets
Regulated by FSCA
No
Brand
Khwezi Trade
Regulated by FSCA
Yes
Brand
Kimura Trading
Regulated by FSCA
No
Brand
LandFX
Regulated by FSCA
No
Brand
LCG
Regulated by FSCA
No
Brand
LegacyFX
Regulated by FSCA
No
Brand
Libertex
Regulated by FSCA
No
Brand
LiteFinance
Regulated by FSCA
No
Brand
LMFX
Regulated by FSCA
No
Brand
LQD FX
Regulated by FSCA
No
Brand
markets.com
Regulated by FSCA
Yes
Brand
Merit Forex
Regulated by FSCA
No
Brand
Mt Cook
Regulated by FSCA
Yes
Brand
MultiBank
Regulated by FSCA
No
Brand
NAGA
Regulated by FSCA
No
Brand
NBH Markets Ltd
Regulated by FSCA
No
Brand
NordFX
Regulated by FSCA
No
Brand
NPBFX
Regulated by FSCA
No
Brand
NSFX
Regulated by FSCA
No
Brand
number 1 Capital Markets
Regulated by FSCA
No
Brand
Oanda
Regulated by FSCA
No
Brand
Octa
Regulated by FSCA
Yes
Brand
OMF
Regulated by FSCA
No
Brand
Orbex
Regulated by FSCA
No
Brand
Pacific Financial Derivatives Ltd
Regulated by FSCA
No
Brand
PaxForex
Regulated by FSCA
No
Brand
Pepperstone
Regulated by FSCA
No
Brand
Plus500
Regulated by FSCA
No
Brand
Price Markets
Regulated by FSCA
No
Brand
Purple Trading
Regulated by FSCA
No
Brand
Quicktrade
Regulated by FSCA
Yes
Brand
Rakuten Securities
Regulated by FSCA
No
Brand
RoboForex
Regulated by FSCA
No
Brand
roinvesting
Regulated by FSCA
No
Brand
Saxo
Regulated by FSCA
No
Brand
Scandinavian Capital Markets
Regulated by FSCA
No
Brand
Simple FX
Regulated by FSCA
No
Brand
Skilling
Regulated by FSCA
No
Brand
Spreadex
Regulated by FSCA
No
Brand
SquaredFinancial
Regulated by FSCA
No
Brand
Super Forex
Regulated by FSCA
No
Brand
Swissquote
Regulated by FSCA
No
Brand
TD Ameritrade
Regulated by FSCA
No
Brand
TD Markets
Regulated by FSCA
Yes
Brand
ThinkMarkets
Regulated by FSCA
Yes
Brand
Tickmill
Regulated by FSCA
Yes
Brand
Tifia
Regulated by FSCA
No
Brand
Trade Nation
Regulated by FSCA
Yes
Brand
Trade.com
Regulated by FSCA
Yes
Brand
Trade360
Regulated by FSCA
No
Brand
TradeATF
Regulated by FSCA
No
Brand
Tradersway
Regulated by FSCA
No
Brand
TradeView Markets
Regulated by FSCA
No
Brand
Trading 212
Regulated by FSCA
No
Brand
TrioMarkets
Regulated by FSCA
No
Brand
TurboForex
Regulated by FSCA
No
Brand
UFX
Regulated by FSCA
No
Brand
USGFX
Regulated by FSCA
Yes
Brand
Valutrades
Regulated by FSCA
No
Brand
Vantage
Regulated by FSCA
Yes
Brand
Weltrade
Regulated by FSCA
No
Brand
XM
Regulated by FSCA
No
Brand
XTB
Regulated by FSCA
No
Brand
xtrade
Regulated by FSCA
Yes
Brand
Zero Markets
Regulated by FSCA
No

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Meet the Experts Behind Our Unbiased Reviews

Chris Cammack

Partner Manager and Financial Writer

Chris Cammack

Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education.


With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users.


He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.


Alison Heyerdahl

Head of Content

Alison Heyerdahl
Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader and financial writer with extensive hands-on experience in the Forex trading industry. She specialises in Forex trading, broker analysis, and market research, with a focus on helping traders navigate the complex world of online trading safely and confidently. Alison has tested and reviewed more than 100 Forex brokers, assessing everything from regulatory status and trading conditions to platform features and customer support. Her goal is to provide honest, detailed, and practical insights that traders can rely on when choosing a broker. She’s also produced more than 300 educational videos for the FxScouts YouTube channel, where she explains trading concepts in a clear, accessible way. As the co-host of the “Let’s Talk Forex” podcast, Alison shares expert commentary on broker reliability, trading strategies, and market developments—always with a focus on transparency and trader protection.

Stefan de Clerk

Financial Writer

Stefan de Clerk
The newest member of our team, Stefan has a degree in Marketing and more than a decade of experience writing quality content in both finance and tech. Stefan's deep fascination with how factors like geopolitical events, big data and market sentiment influence the financial markets drives his passion for Forex trading. He believes that if you want to feel the pulse of the world economy, trade Forex, and if you want to trade Forex, you need well-researched, unbiased and objective information.