Broker Rankings
fxreviewlab ranks 6 forex brokers on one weighted score: regulation 35%, trading costs 25%, execution 20%, support 20%. IC Markets leads at 8.9 / 10, holding CySEC licences. The average score across all 6 is 8.5. Ratings are editorial and are not influenced by affiliate commissions.
Last updated · How we score brokers
Best overall
IC MarketsHighest weighted score at 8.9 / 10. $200 minimum deposit, spreads from 0.0 pips, leverage to 1:1000.
Most regulated
Pepperstone4 Tier-1 licences. No minimum minimum deposit, spreads from 0.0 pips, leverage to 1:500.
Lowest spreads
ExnessSpreads from 0.0 pips. $10 minimum deposit, spreads from 0.0 pips, leverage to Unlimited.
Best for beginners
PepperstoneNo minimum to open, demo account included. No minimum minimum deposit, spreads from 0.0 pips, leverage to 1:500.
Best for scalping
IC MarketsExecution and platform score 9.9 / 10. $200 minimum deposit, spreads from 0.0 pips, leverage to 1:1000.
Full ranking table
Every broker below is scored on the same four inputs and the same weights. Read the full methodology for how each input is measured, or open a broker to see the licence numbers behind its regulation score.
| Rank | Broker | Score | Spread | Min Deposit | Leverage | Platforms | Reviews | Status |
|---|---|---|---|---|---|---|---|---|
| #1 | 8.9 | 0.00 | 200.00 | 1:1000 | 0 | Regulated | ||
| #2 | 8.5 | 0.00 | 10.00 | Unlimited | 1 | Regulated | ||
| #3 | 8.5 | 0.60 | 5.00 | 1:1000 | 0 | Regulated | ||
| #2 | 8.5 | 0.00 | 50.00 | 1:2000 | 0 | Regulated | ||
| #5 | 8.5 | 0.00 | 0.00 | 1:500 | 0 | Regulated | ||
| #3 | 7.8 | 1.20 | 0.01 | 1:2000 | 0 | Regulated |
Forex broker rankings: frequently asked questions
How does fxreviewlab rank forex brokers?
Each broker gets one weighted score out of 10 built from four inputs: regulation and safety (35%), trading costs (25%), execution and platforms (20%), and funding and support (20%). 6 brokers are ranked here and the average score is 8.5 out of 10. The weights are fixed and published, so two brokers with the same underlying data always receive the same score.
Which forex broker ranks first right now?
IC Markets holds the top position with a weighted score of 8.9 out of 10. That ranks the four scored inputs, not your situation: the right broker still depends on where you live, which regulator covers your account, and how you can fund it.
Which broker holds the most Tier-1 licences?
Pepperstone carries the most Tier-1 authorisations of any broker we rank (4), currently ASIC, BaFin, CySEC, FCA. Tier-1 means a regulator with enforceable client-money rules and a public register you can check yourself.
Which broker has the lowest spreads?
Exness advertises the lowest floor at 0.0 pips on EUR/USD. Read that number together with the commission attached to it: a 0.0 pip spread carrying a round-turn commission is not automatically cheaper than a 0.6 pip spread with none, which is why the ranking tie-breaks on commission per lot.
Which broker is best for a beginner?
Pepperstone has the lowest barrier to entry among ranked brokers: no minimum to open, with a demo account available. 6 of 6 ranked brokers offer a demo account.
What is the lowest minimum deposit among ranked brokers?
The lowest minimum deposit in the table is no minimum. A low minimum lets you open an account, but it does not make the account viable: position sizing, not the deposit floor, decides how long a balance survives.
Are all the brokers on this list regulated?
6 of the 6 ranked brokers currently carry a regulated status in our data. Regulation is not a single yes or no. What matters is which legal entity opens your account and which regulator covers that entity, because a broker can be authorised in one country and offshore in yours.
Do brokers pay to rank higher on fxreviewlab?
No. Ranking positions cannot be bought. We may earn a commission when you open an account through our links, but a commission never changes a score, a position or a verdict, and several ranked brokers pay us nothing.
How often are these rankings updated?
Scores are recalculated whenever the underlying broker data changes: a new licence, a fee schedule change, a platform added or withdrawn. This page was last updated 15 August 2026, and every broker review carries its own last-checked date.
How do I verify a broker licence myself?
Take the licence number from the broker review, open the regulator own public register (the FCA, ASIC, CySEC and FSCA all publish one), and confirm that the legal entity named on the register is the same entity named in your account agreement. If the two differ, the licence does not cover your account.
Is a higher score always the better choice for me?
No. The score measures the broker, not the fit. A broker that scores well on regulation can still be the wrong choice if it will not accept residents of your country, does not support your local payment method, or holds your account through an offshore entity. Check the country section of the review before you open an account.