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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.
Each year FxScouts along with our sister brands TradeForexSA and Fx-Australia evaluate the best brokers in the world. We have worked with some of these brands for over 10 years, and as 2021 comes to a close, we feel it appropriate to award some of them for their accomplishments this year.
Our review process and editorial policy guide the way we review brokers for our State of the Forex Market report. Our research alone, without bias, is how we create these awards. Congratulations to each of these brands for the hard work and dedication from their staff to be crowned as one of the best of 2021.
With 300,000 traders on its books and one of the best customer support teams in the business, AvaTrade has a reputation as a rock-solid partner for traders across the globe. In a difficult year, AvaTrade consistently delivered for clients by offering low trading costs on a range of platforms (including its slick mobile app - AvaTradeGO). Detailed education for beginners and experienced traders, support for both MetaTrader platforms, and great risk-management tools like AvaProtect also contributed to making AvaTrade our favourite broker in 2021. Read our full AvaTrade review here.
This best of African brokers, Khwezi Trade is once again our leading broker on the continent for 2021. Founded in 2013 and headquartered in Cape Town, this FSCA-regulated broker is known for its exceptional level of customer support. The overall trading experience for beginners and experienced traders alike is outstanding and is only enhanced by Khwezi Trade's fast funding processes and clear interest in the trading success of its clients. Read our full Khwezi Trade review here.
FP Markets has a long history of being at the forefront of Australian brokers. With a wide selection of advanced trading platforms, top-tier liquidity, competitive trading conditions, and exceptional customer service, FP Markets wins our Best FX Broker Australia award for 2021. Read our full FP Markets review here.
Leading the market with over 20,000 CFDs to trade and regulation 10 from national authorities (including ASIC and BaFin), MultiBank is our pick for the best global CFD provider for 2021. MultiBank's huge share CFD range is enhanced by a good selection of Forex pairs, indices, commodities and crypto CFDs. Our team also liked the low-cost Islamic trading account and the low trading costs on MultiBank's ECN trading account. Read our full MultiBank review here.
With some of the lowest trading costs in the industry, 20+ liquidity providers, all three major trading platforms and fast market execution IC Markets is our favourite ECN broker in 2021. Other highlights include 24/7 customer service, various copy-trading services and a VPS service. IC Markets combines leading ECN trading conditions with world-class regulatory oversight. Read our full IC Markets review here.
Dedicated to the security of client funds and with some of the lowest trading costs available on MT4 and MT5, Admirals wins the best STP Forex broker of 2021. As an STP broker regulated by multiple major international organisations including the FCA, CySEC and ASIC, Admirals has built a reputation among traders for achieving a stable, fair, secure and transparent trading environment for both beginners and expert level trader. Read our full Admirals review here.
Marketsx is the flagship trading platform from Markets.com, a well-regulated broker with high-security standards. The Marketx trading platform is packed full of features and trading tools and is optimised for lightning execution. As well as in-depth charting and asset comparison tools, Marketsx also gives traders a wealth of decision-supporting data with sentiment tools, tutorials, and regular live-streamed, expert analysis.
Feature-rich and very easy to use for new traders, Marketsx wins the award for best trading platform for 2021. Read our full Markets.com review here.
Tickmill's Pro Account is the lowest cost trading account in the industry and its dedication to improved trading conditions and fast STP market executed trades in the absence of any dealing desk interference is apparent.
With an average execution speed of around 0.20 seconds, a minimum trade size of 0.01, low commissions, and the recent addition of MT5 support and cryptocurrency trading, Tickmill wins our overall award for the best trading conditions for 2021. Read our full Tickmill review here.
ACY Securities' Bespoke Account wins our award for Best Trading Account 2021, with some of the best trading conditions for high-volume and professional traders. Spreads down to 0 pips, a 5 USD (4 GBP) round-turn commission, and super-fast execution from twin servers in Hong Kong and New York are all standard. Bespoke Account holders also receive personalised customer support and will appreciate the wide range of CFDs at ACY, including 60+ Forex pairs, commodities, indices, share CFDs, ETFs, and cryptocurrencies. Read our full ACY Securities review here.
Islamic accounts can be difficult to open. However, XM Group stands out in this category for its commitment to creating an easily accessible swap-free account that does not expire, with no spread widening, no commissions, and no hidden fees.
For a truly 100% Shariah compliant account, made easily accessible to traders of the Islamic faith, and with fair and ethical trading conditions, XM Group wins our award for Best Islamic Forex Account 2021. Read our full XM Group review here.
One of the most respected ECN brokers in the world, Pepperstone wins our award for best Forex trading execution for providing its traders with ultra-fast, low-cost market execution with most orders executed in less than 30 milliseconds. With tight spreads on two simple accounts, deep liquidity, support for all three major third-party trading platforms, and deep discounts for high-volume traders Pepperstone is one of the Forex trading community's favourite brokers for good reason. Read our full Pepperstone review here.
The BDSwiss market research team, led by the world-renowned financial expert Marshall Gittler, produces exceptionally detailed and thoughtful market analysis for traders of all experience levels. Head and shoulders above its peers in the industry, the financial commentary at BDSwiss gives traders a unique insight into how to make better trading decisions. In addition, the BDSwiss Trading Academy offers deep and well-structured beginner, intermediate, and advanced trader courses.
This combination has made BDSwiss the best in class for market research, offering a near-perfect research and education experience for all traders. Read our full BDSwiss review here.
With one of the lowest-cost trading environments in the industry and a huge number of Forex pairs and other CFDs, Capital.com provides the best overall trading experience for both beginners and professional traders. Capital.com makes money management easy too, with no fees on deposits, withdrawals, or inactive accounts and swap fees are only charged on leverage. Finally, the world-class education available for traders of all experience levels makes Capital.com a true partner for Forex traders. Read our full Capital.com review here.
Founded in 2006. FxPro is one of the most respected brokers in the industry. With over 800,000 clients across the world, FxPro is known for its fast no-dealing desk execution, flexible trading conditions, and excellent client support. One of the few brokers with customer service available 24/7, FxPro's support team is knowledgeable and responsive on both technical issues and more mundane problems. This convenient multi-lingual support by phone, live chat and email in a positive, solution-oriented manner wins FxPro the Best Customer Service award for 2021. Read our full review of FxPro here.
Well-regulated and with fast execution speeds, ETX has the best MT4 trading account in the industry. ETX offers low trading costs, free withdrawals, 60+ Forex pairs and an excellent education section for experienced traders and serious beginners. ETX Capital's MT4 trading experience is further enhanced by the free ETX MT4 Remastered plugin which includes a trade terminal, a mini terminal, tick chart trader, and stealth orders. For experienced traders, or beginners looking for the best MT4 trading experience in the industry, ETX Capital is hard to beat. Read our full ETX Capital review here.
FXTM wins our MT5 broker of the year award for its remarkable execution speeds and trading flexibility on the MT5 platform. Already feature-rich, the FXTM MT5 platform has no trading restrictions - ideal for scalping, high-frequency trading and hedging.
The Advantage MT5 account features a fixed commission and tight spreads, providing a low-cost MT5 solution for traders looking to make the move from MT4. These features, combined with unrestricted trade sizes and the FXTM Invest copy-trading platform, makes FXTM the clear choice for MT5 users. Read our full FXTM review here.
OctaFX has developed the leading copy trading platform, simple for beginners to understand but with the depth of detail (risk level, drawdown, etc) that more experienced traders will want to see - all in an intuitive interface. Available on the MT4 trading platform, OctaFX has lowered the threshold to allow beginner traders to profit from the sophisticated trading strategies used by professional traders, using seamless integration in their trading platform. Read our full OctaFX review here.
Few leading brands can truly innovate in the Forex industry, but easyMarkets manages it with surprising frequency. With a collection of unique tools such as easyTrade, dealCancellation and Freeze Rate, easyMarkets continues to offer unique solutions for traders to improve their trading experience and mitigate risk. For their commitment to advancing the industry while maintaining their commitment to traditional clients, easyMarkets are the leading innovator in the Forex market for 2021. Read our full easyMarkets review here.
Cryptocurrency CFDs have rapidly become one of the largest markets in the trading world. While volatility and risk have put some brokers off, Eightcap thoroughly embraced the trend in 2021, launching the largest crypto CFD range in the world. With over 250 crypto pairs to trade, Eightcap has earned its place as the leading broker for trading Bitcoin, Litecoin, and Ethereum and many other lesser-known cryptocurrencies. Eightcap has shown that the best regulated and established brokers can support a wide range of cryptocurrency CFDs with competitive leverage. Read our full Eightcap review here.
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Partner Manager and Financial Writer
Head of Content
Financial Writer
