Best Forex Broker 2015 | Top 5 Forex Trading Platforms – Ranking, Reviews

By MarketConsensus Staff . Updated | March 2, 2015 2:04 pm


Currency Trader

Best Forex Brokers 2015 | Top 5 Forex Trading Platforms - Ranking, Reviews

Instead of playing catch-up to information, technological advancement now allows the currency market to anticipate future events.

Global banks like Goldman Sachs that used to dominate the foreign exchange market (forex or FX) now find themselves contending with individual FX traders (new, average and highly experienced investors).

Presented below is this year's list of the top ten best forex brokers and online trading platforms, followed by a comparison ranking table, and then a brief review of the top five FX brokers.

MarketConsensus News started out with a larger list of over 55 forex trading platforms.

After applying various criteria (spreads, ease of use, fast execution, brokerage details, etc.), we narrowed the list down to the below ten best forex brokers.

List of Top 5 Best Forex Brokers

  2. MB Trading
  3. Alpari
  4. TradeKing
  5. OANDA

Key Selection Criteria

What do forext traders generally consider? 

When researching the various online brokerages to select the best forex broker that best meets their needs, experienced FX traders normally consider the below key variables.


Key Factors



Spread and Trades

The spread is the difference between what the market maker buys a currency for (called the bid), and the price at which they sell a currency to you (called the ask).


The bid is always lower than the ask, so the smaller the spread the better off you are.


When you do business with a broker that uses the Electronic Communications Network (ECN), you are effectively trading directly on the network - which gives you maximum security and control.



When trading forex, fractions of a second can mean money. You want reliability in a high execution rate and the trust that your stop losses will be honored. In such a fast moving market poor execution cannot be tolerated.


On our list of the top five, only brokers with high powered and advanced computational capabilities for fast execution were selected.


Brokerage Details

Regulatory compliance, direct access to ECN and other broker specific information were considered as part of our analysis


Research and Tools

We considered brokers that provided an advanced level of research, analytics and trading tools


Customer Support

Trading can be stressful enough. If you have a question or concern that needs answering you want fast access to friendly and well experienced support. All of the brokerages on this list are known to have extensive and quality customer support.


Ease of Use

User friendly interface

Comparison Ranking of the Top 5 Best FX Brokers and Forex Trading Platforms - Review

MB Trading




Lowest Spread (pip)






# Currency Pairs






Highest Leverage

50:1 major pairs
20:1 minor pairs





Opening Deposit (USD)






Founded in







Bedminster, NJ

El Segundo, CA

New York, NY

Bedminster, NJ

New York, NY

Licensed and Regulated






Best Five Forex Brokers - High Level Reviews Review

They definitely have the most memorable domain name. has been around since 1999 and is a well regulated broker. provides you with a practice account to test your trading strategies.

Their quoted spreads are competitive to the point that proudly displays their live spreads on their website.

High net worth individuals who qualify are given direct access to an Electronic Communications Network (ECN) through their affiliate GTX platform.

This platform has the benefit of extra tight spreads, deep liquidity and transparent pricing, with client to client trading available.

It is not higher rated for trading stocks and options, but as a pure forex broker is a great option.

MB Trading Review

Headquartered in California, Manhattan Beach Trading (MB Trading) is well accustomed to the regulatory landscape of the US.

MB Trading is primarily geared towards consumers here in the US and Europe.

It is an ECN broker which means execution is optimal and transparent.

Using the firm’s lightwave platform account, you can trade forex as well as futures, stocks and options - all from the same account.

Spreads can be extremely low. However hedging strategies are not supported.

If you are planning to be a volume trader, the tight spread and low commissions will make this a favorable choice.

Alpari Review

At Alpari, multilingual support and free research tools are available 24 hours a day.

AlpariFX Pro offers you an ideal combination of competitive pricing and market liquidity.

Clients can access Pro pricing using a variety of different platforms while implementing a large array of trading strategies.

Unfortunately the pro account requires a $10,000 USD minimum, so if you are looking to start cheaply you will perhaps want to look elsewhere.

The pro account requires both experience and a significant amount of spare cash.

Alpari is a regulated US forex broker with offices across the world.

It is a great option to consider, if you can manage the requirements for the pro account.

TradeKing Review

A key benefit to trading with TradeKing is that you only need $500 to open an account and you can trade in micro lots.

An important concern is that TradeKing is not an ECN broker.

It is instead a Straight-Through-Processing broker which means that you won't have complete control, despite not being charged commissions.

Yes, being charged no commission is a good thing, and TradeKing publishes their spreads live on the website. However they do make their money from the spread, so you'll want to research what is out there.

Like, TradeKing is affiliated with GAIN Capital. However, in this instance GAIN Capital is acting as the market maker. As such, this is a very low cost option, which is great, but you will want to carefully read the disclaimers to make sure you are comfortable with who controls what if something goes wrong.

Oanda Review

Oanda is not an ECN broker.

However, they do not require a minimum account deposit or a minimum trade lot size which makes them a very attractive choice if you want to start small.

OANDA provides a wide range of available currency pairs, with live spreads for easy window shopping.

Unlike most brokers, the firm does not charge interest on an overnight basis. Instead, they charge continuously over each 24 hour period.

This can be a really big plus, and can give you a price advantage if you are executing trades late in the day.

OANDA is perhaps one of the better choices for low capitalized beginners.

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