Forex Brokers of July 2024 reviewed and rated

At investfox we are committed to bringing you unbiased and honest broker reviews. We analyze over 100 data points across 8 dimensions to deliver the most legitimate broker rankings possible. Learn more about our Forex broker reviews and ratings methodology.

We also understand that there is no one-size-fits-all when it comes to investments and trading. This is why investfox lets you benefit from our powerful filter and sorting tools to weed out the brokers that don't tick your boxes, so you can find the ones that work best for you. Thus you can spend more time reading the reviews of the companies that match your needs while ignoring the ones that don’t.

Showing 147 brokers

How does the investfox team compose forex broker reviews?

In order to provide our readers with the most in-depth reviews out there, the investfox editorial team follows a stringent set of tasks to analyze, rate, and review each brokerage in our database. Our experts start out by collecting all the possible publicly available data about the brokerage - this is typically done through the brokers' website.

Considering the fact that the vast majority of the brokerages operate via more than one legal entity, our experts then use VPNs to access the Forex brokers’ websites from multiple locations around the world. This is done to deliver the most comprehensive information to our readers, as the brokers’ Cyprus (CySEC) entity offer may be significantly different from the conditions offered by its UK (FCA) entity. 

Yet not everything can be seen on the surface, and in case there is data that our experts are unable to extract through publicly available sources, we then turn to the brokers’ client service for help. We often access client support chats or open support tickets with a brokerage to find out the necessary information.

Also, in order to fully and concisely describe the application process for opening an account, our experts go through each step themselves, by opening an account at the brokerage they are reviewing. 

In rare cases, we will also pass the KYC process and all other requirements to fully apply for an account and even fund it, just so we can preview the real market conditions and services offered by a forex broker. 

How do investfox users leave their reviews?

investfox has been built on the idea of transparency, and we do believe that the voice of every trader should be heard. Hence, our main priority is to serve as a platform for true and honest user-generated feedback. This way we are able to deliver a truly unique forex broker rating experience that helps thousands of traders to get matched with only legitimate forex brokers.

We provide our users with an opportunity to review and rate the brokers. After we have identified the user's experience with the broker (live account, demo account, or no account), we let the user rate the brokerage over 8 unique dimensions, and finally, the user has the option to leave a text write up to give substance to their review and to justify their rating. 

Can investfox forex broker ratings be changed?

Yes, most certainly. Our expert team conducts an annual review of the top-rated brokerages to make sure that we provide updated ratings that remain accurate. At our own discretion, we may update a certain review more often, this usually happens when a broker launches a new product of significant import or a major (both positive or negative) event related to the broker occurs. Also, investfox’s editorial team may decide to avoid updating unpopular broker reviews on an annual basis, since this is quite a resourceful process.

When it comes to the forex broker reviews of investfox users, we only consider the ten most recent reviews of our users when displaying the rating score. This is done to reflect only the latest and most relevant experiences of our users rather than considering the overall historic performance of the brokerage.

How do forex broker rankings work at investfox?

When recommending brokers to our readers, we are guided by a number of factors:

  • investfox expert score
  • investfox user score
  • Commercial relationship (read more about this here
  • Launching date
  • Your current geographical location

This means that our rankings are designed to recommend the brokers that are best rated by our experts and our users, available in your country/region, and have a sound commercial partnership with us. Often we tend to display newly established brokers in our rankings as well. 

investfox rankings also utilize labels like “Recommended”, “Top Choice” and more, to show certain financial trading brands above the others. 

investfox forex reviews are never influenced by the commercial relationship we have with a broker. We will never rate a company's services better than they actually are, although we may display certain brokers of a lower rank first, before displaying higher ranked brokers due to our commercial relationship. This, however, is just a default order of displaying the brokers. Should a user want to access the best forex broker reviews regardless of investfox partnership conditions, it is possible to simply sort the brokers from best to worst based on either the investfox score or the user score. 

How to use investfox broker filters to remove irrelevant reviews?

investfox reviews are designed to provide the most relevant overall scores for our broad audience. 

Yet it is clear that finding the perfect broker that matches your requirements exactly is a different task. 

This is why investfox has released its powerful filter system. Using these filters you can now find the forex platform reviews of your choice simply by selecting one or more of the following filtration parameters:

  • Licensing (country of regulation)
  • Platforms (trading software)
  • Instruments (available trading assets)
  • Leverage (available trading on a margin) 

Our review filters are reactive, meaning you will never end up with zero results. For example, when selecting Australia in the “License” filter, you will only see the software offered by the ASIC-regulated brokers in the “Platforms” filter field. This way, you get to build up the forex brokers’ rating that matches every possible requirement you might have.