How to read the scores Research scores come from licences, published disclosures, platforms and copy tools (method). A tested score replaces one once we have used an account with that broker.
P
- FCA FRN 684312
- ASIC AFSL 414530
- CySEC 388/20
- Platforms
- MT4, MT5, cTrader, TradingView, Pepperstone web platform and app
- Minimum deposit
- $0
- Copy trading
- CopyTrading by Pepperstone (MT4/MT5), cTrader Copy
9.0/10
Research score 79.6% of retail investor accounts lose money when trading CFDs with this provider Check your entity International clients may be onboarded by Pepperstone Markets Limited (Securities Commission of The Bahamas, SIA-F217), which has weaker client protection than the licences above.
E
- FCA FRN 583263
- CySEC 109/10
- ASIC AFSL 491139
- MAS CMS101824
- Platforms
- eToro proprietary platform (web and app)
- Minimum deposit
- Varies by region, from $10 to $10,000
- Copy trading
- CopyTrader
8.5/10
Research score 51% of retail investor accounts lose money when trading CFDs with this provider. FM
- ASIC AFS License No. 286354
- CySEC 371/18
- FSCA FSP 50926
- Platforms
- MT4, MT5, cTrader, TradingView, WebTrader, Iress, mobile app
- Copy trading
- FP Markets Social Trading (MT4/MT5), Signal Start
Check your entity International clients may be onboarded by First Prudential Markets Limited (Seychelles FSA, SD130), which has weaker client protection than the licences above.
T
- FCA FRN 717270
- CySEC 278/15
- FSCA FSP 49464
- Platforms
- MT4, MT5, TradingView, Tickmill Trader
- Minimum deposit
- $100 (Classic and Raw accounts)
- Copy trading
- Tickmill Social Trading
Check your entity International clients may be onboarded by Tickmill Ltd (Seychelles FSA, SD008), which has weaker client protection than the licences above.
V
- FCA FRN 590299
- ASIC AFSL 428901
- FSCA FSP 51268
- Platforms
- Vantage App, Vantage Web Trading, MT4, MT5, TradingView
- Copy trading
- Vantage Copy Trading
8.0/10
Research score 70.98% of retail investor accounts lose money when trading CFDs and Spread Bets with this provider. Check your entity International clients may be onboarded by VIG Group (FSC Mauritius, GB20026165), which has weaker client protection than the licences above.
O
- FCA No: 542574
- ASIC AFSL 412981
- CFTC/NFA NFA ID 0325821
- Platforms
- OANDA Mobile, TradingView, MT5
- Copy trading
- MT5 copy trading
7.5/10
Research score 76.6% of retail investor accounts lose money when trading CFDs with this provider Check your entity International clients may be onboarded by OANDA Global Markets Ltd (FSC British Virgin Islands, SIBA/L/20/1130), which has weaker client protection than the licences above.
IM
- ASIC License No. 335692
- CySEC 362/18
- Platforms
- MT4, MT5, cTrader, TradingView, WebTrader
- Copy trading
- IC Social, cTrader Copy Trading, ZuluTrade, Signal Start
6.6/10
Research score 72.52% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd Check your entity International clients may be onboarded by Raw Trading Ltd (Seychelles FSA, SD018), which has weaker client protection than the licences above.
A
- Central Bank of Ireland C53877
- ASIC 406684
- FSCA No. 45984
- Japan FSA 1662
- ADGM FSRA 190018
- CySEC 347/17
- Platforms
- WebTrader, AvaTrade App, AvaOptions, MT4, MT5
- Copy trading
- AvaSocial, DupliTrade
Check your entity International clients may be onboarded by Ava Trade Markets Ltd (FSC British Virgin Islands, SIBA/L/13/1049), which has weaker client protection than the licences above.
I
IG Regulated
- FCA FRN 195355
- ASIC AFSL 515106
- Platforms
- IG web platform and apps, MT4, MT5, ProRealTime, L2 Dealer, TradingView
5.6/10
Research score 70% of retail client accounts lose money when trading CFDs, with this investment provider. Check your entity International clients may be onboarded by IG International Limited (Bermuda Monetary Authority), which has weaker client protection than the licences above.
E
- FCA FRN 730729
- CySEC 178/12
- FSCA FSP 51024
- Platforms
- MT4, MT5, Exness Terminal, Exness Trade app
Check your entity International clients may be onboarded by Exness (SC) Ltd (Seychelles FSA, SD025) or Exness (MU) Ltd (FSC Mauritius, GB20025294) or Exness (VG) Ltd (FSC British Virgin Islands, SIBA/L/20/1133) or Exness B.V. (Central Bank of Curacao and Sint Maarten, 0003LSI) or Forexite Ltd. (FSC Belize, 9110312), which has weaker client protection than the licences above.
X
XM Regulated
- Platforms
- MT4, MT5
- Minimum deposit
- $5
- Copy trading
- XM Copy Trading
Check your entity International clients may be onboarded by XM Global Limited (FSC Belize, 8557558), which has weaker client protection than the licences above.
F
FXTM Regulated
- Platforms
- MT4, MT5, FXTM App, FXTM web platform
Check your entity International clients may be onboarded by Exinity Limited (FSC Mauritius, C113012295), which has weaker client protection than the licences above.
Frequently asked questions
Which forex broker is the safest?
We track 12 forex brokers with published affiliate programmes and check each licence against the regulator. 11 of them onboard international clients through an offshore entity, so the licence you actually get depends on where you live. Pepperstone has the highest research score (9.0/10), based on its licences, disclosures and platforms (data checked 2026-09-29).
How do I check a forex broker's licence?
Find the licence number and legal entity in the broker's website footer, then search that number on the regulator's own register (for example the FCA, ASIC or CySEC register). The entity on the register must match the one named in your account agreement.
What does "offshore entity" mean for me?
Many brokers hold strong licences for some countries but open accounts for international clients through a company in a place such as Seychelles, Belize or the Bahamas. Those regulators usually offer weaker client-money protection and no compensation scheme. Your account agreement names the entity you are dealing with.
