Best Forex Brokers for 2026
These forex brokers are known for their low and transparent pricing, high-quality trading platforms, and wide selection of currency pairs.
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Forex trading, which involves exchanging one currency for another in the foreign exchange market, involves a level of risk and complexity that you may not find in traditional investing. But with the sharp fluctuations in exchange rates following President Trump's erratic tariff policies, more individual investors are turning to a more advanced asset class.
That's why it's crucial to choose a broker that helps you understand and navigate the potential costs and benefits associated with it.
When choosing the right forex broker for you, you should consider trading platforms and tools, the number of currency pairs offered, customer service, and, of course, trading costs.
But comparing costs in forex trading is complicated. Some brokers charge a commission, while others charge a spread—the profit margin between the asset price they pay and the selling price. The differences are explained in more detail below.
One suggestion: All of these brokers offer free demo accounts so you can test the market with virtual dollars. Try some virtual money before using your own.
For our list, we only considered forex platforms regulated by the National Futures Association and the Commodity Futures Trading Commission.
Best Forex Brokers
1. Interactive Brokers
Commission: 0.20 basis points if trading at or below 1,000,000,000 in value per month. $2 minimum commission per order. Volume discounts available.
Currency pairs: 100+
Account minimum: $0
Inactivity fee: None.
Our View
Interactive Brokers is a comprehensive multi-asset broker known for its robust trading platforms. The company's commissions are competitive, especially for high-volume traders. Forex traders will appreciate the FXTrader platform, which supports over 20 different order types, offers customizable layouts and trading cell displays, and allows you to place orders with a single click. Interactive Brokers' spreads are extremely competitive—the company advertises spreads as low as 1/10 of a point—and investors have access to live prices from 17 sources.
2. Forex.com
Commission: Choice of spread markup or commission account. Commissions are $7 per $100,000 traded per side.
Currency pairs: 80+
Account minimum: $100
Inactivity fee: $15 per month after there is no trading activity for 12 months.
Our View
Despite its name, Forex.com is also a multi-asset broker—in addition to forex trading, the company offers stocks, ETFs, and options trading via its StoneX platform. The company offers an impressive range of trading platforms, including integration with MetaTrader 5. It pays a 4% annual return on margin balances of up to $500,000 (current rate as of July 25, 2025).
3. OANDA
Commission: Spread markup. Elite trader program offers commissions and rebates for those who trade $10,000,000 per month.
Currency pairs: 60+
Account minimum: $0
Inactivity fee: 10 units of the currency your account is denominated in if there are no open trades for a period of at least 12 months.
Our View
OANDA offers forex and cryptocurrency trading (through a partnership with Paxos) and flexible pricing – users can choose between spread-based pricing or the Premium Trader Program, designed for active traders, which offers discounts on high monthly trading volumes. It's also worth noting that inactivity fees do not apply to cryptocurrency accounts.
What is the best forex broker for beginners?
We generally don't recommend beginner investors start with forex trading—if you're new to investing, check out our list of the best brokers for beginners. However, if you're an experienced investor looking to get started with forex trading for the first time, you may benefit from choosing a traditional broker to start with, such as Interactive Brokers. While IBKR's interface is still advanced, it may feel more familiar than other forex trading platforms.
How can I learn to trade forex?
Many forex brokers offer demo trading tools that allow you to test different strategies without risking any money. These virtual trading simulators are a good way to learn how to trade and understand the different strategies you might use.
Which forex broker offers the highest leverage?
Many forex brokers offer leverage of up to 50:1 on major currency pairs. Some brokers will lower this for minor currency pairs, offering up to 20:1 instead.