2024 Annual Award Winners – Overall
Results for the ForexBrokers.com 2024 Annual Awards are unbiased and determined by our own independent research; Broker Awards are bestowed based on demonstrated excellence in categories considered important to investors, forex traders, and consumers.
After gathering and validating thousands of data points across 100+ important variables, poring over our collected quantitative data, and factoring in the qualitative observations and qualified opinions of our expert researchers, we are proud to announce the top three forex brokers of 2024:
Winner: IG
Regulated and trusted across the globe, IG offers traders the ultimate package of excellent forex trading platforms, research tools, industry-leading education, comprehensive market research, and an extensive list of tradeable products. This fantastic all-round experience makes IG the best overall broker in 2024.
- Trust: Founded in 1974, IG is publicly traded (LON: IGG) and regulated in eight Tier-1 jurisdictions, making it a Highly Trusted broker for forex and CFDs trading. All jurisdictions considered, we ranked IG as the most trusted forex and CFDs broker for our 2024 Annual Awards.
- Commissions: IG uses its size to provide consistent pricing for forex trades across the board — regardless of the product you trade — and shines for its active trader pricing available through its Forex Direct accounts.
- Forex trading platforms: While IG also offers MetaTrader and premium MT4 add-ons from FX Blue, only 76 tradeable instruments are available. There’s no question; IG’s flagship platform is the better choice between the two, and offers an extensive range of tradeable markets.
Runner-Up: Interactive Brokers
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
- Trust: Founded in 1977, Interactive Brokers is publicly traded (NASDAQ: IBKR) and regulated in nine Tier-1 jurisdictions. Interactive Brokers is well-capitalized with USD 373.8 billion of ending client equity and USD 10.01 billion of equity capital.
- Commissions: Interactive Brokers offers competitive pricing, aggregating prices from 17 of the world’s largest interbank forex dealers. Instead of marking up spreads, Interactive Brokers charges a commission for all forex trades, which ranges from $16 to $40 per million round turn ($8 to $20 per side).
- Forex trading platforms: Interactive Brokers stands out for its trading platforms, which include its flagship desktop software – Trader Workstation (TWS) – and mobile trading app – IBKR Mobile – both of which provide access to advanced trading tools and global financial markets (including forex and CFDs).
Podium Finisher: Saxo
Saxo has recently lowered the minimum deposit requirement for its entry-level Classic account to $0, making it easier for a wider range of traders to access its excellent forex trading platforms, phenomenal research, and 70,000+ tradeable instruments.
- Trust: Founded in 1992, Saxo operates multiple regulated banks and is licensed in seven Tier-1 jurisdictions, making it a safe broker (low-risk) for CFDs and forex trades.
- Commissions: Saxo provides traders with excellent all-around pricing. For active traders (and those with large forex account balances), Saxo offers competitive pricing in its Platinum and VIP accounts, which require a $200,000 and $1 million balance, respectively.
- Forex trading platforms: The entire Saxo client experience is absolutely brilliant. Alongside access to 70,000 tradeable instruments, Saxo’s flagship SaxoTraderGo platform is terrific and includes everything traders require to navigate the market. Saxo also offers third-party trading platforms such as TradingView, the globally popular platform with advanced forex charting capabilities. Learn more by checking out our TradingView guide.
Best Forex Trading Platforms
We’ve conducted thorough testing of the best trading platforms offered by dozens of the top forex brokers in the industry. Of the 60+ brokers that we’ve evaluated, we’ve selected our top picks for brokers that provide the best trading platform experience and listed them below (click on the broker’s name if you want to read our full-length broker review):
- Saxo Review – Best VIP client experience
- IG – Most trusted, great for beginners
- CMC Markets – Best platform technology
- Interactive Brokers – Best for professionals
- TD Ameritrade FX – Best desktop platform (U.S. only)
- FXCM – Great for algorithmic traders
- FOREX.com – Award-winning performance analytics tools
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ForexBrokers.com 2024 Overall Rankings
Now that you’ve seen our picks for the best forex brokers, check out the ForexBrokers.com Overall Rankings. We’ve evaluated over 60 forex brokers and the top trading platforms using a testing methodology that’s based on 100+ data-driven variables and thousands of data points. Check out our full-length, in-depth forex broker reviews.
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Methodology
At ForexBrokers.com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies (click here to learn about how we calculate Trust Score).
Our research team, led by Steven Hatzakis, conducts thorough testing on a range of features, including each broker’s individual products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and an exhaustive list of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS 12.5 to test trading on the go.
We also test on mobile devices; for Apple, we test using the iPhone XS running iOS 16, and for Android we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 13.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. For a full explanation and accounting of our research and testing process, please click here to learn more about how we test.
