Top 10 Best Brokers for Professional Traders for 2021

logomark Filippo Ucchino calendar Last Updated: November 2021 timer 10 min read
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At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

Whether you are a professional trader, or a retail trader simply wondering what broker do professional forex traders use, we have you covered. Our best forex brokers in the world listing is a great starting point for finding all the best brokers.

Here, we narrow it down to the top 10 forex brokers for professional traders that offer the very best conditions as a pro. We will take a closer look at everything these brokers have to offer, so you make the very best choice possible.

Let’s get started.

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Brokers for Professional Traders Minimum Deposit Max Leverage for PRO Customers
Pepperstone 0 USD 1:500
Interactive Brokers 0 USD 1:400
Oanda 0 USD 1:100
Forex.com 100 USD 1:200
IC Markets 0 USD 1:500
FxPro 100 USD 1:500
IG Markets 300 USD 1:222
eToro 200 USD 1:400
AvaTrade 100 USD 1:400
Saxo Bank 500 USD 1:66
Table of contents

Top 10 Forex Brokers for Professional Traders

Here is a look at our top forex brokers for professional traders listing.

Visit Broker
74-89% of retail investor accounts lose money when trading CFDs

1. Pepperstone

Pepperstone is the first to feature on our listing and is an extremely well-regulated choice. They have regulations in place from the FCA, ASIC, DFSA, CYSEC, SCB, and CMA. As a professional trader with Pepperstone, you will find leverage of up to 1:500 available.

Alongside this high leverage, you can trust that the trading costs and conditions at the broker are excellent. They have a very low spread from 0 pips that averages 0.09 pips on the EUR/USD, and very fast execution speeds of ~30ms per order as well as deep liquidity.

You will not find any negative balance protection as a pro trader but they do offer a free VPS and excellent rebate program known as active trader. This can provide you with rebates of as much as 15%. There are also no Pepperstone deposit or withdrawal fees.

90
Rated: Excellent
Security 94
Cost 75
Trading 100
Education 71

Platforms: cTrader desktop, cTrader web, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, DFSA, CYSEC, Offshore Minimum Deposit: 0
Visit Broker
74-89% of retail CFD accounts lose money

2. Interactive Brokers

Interactive Brokers are the next top broker on the list. Again they are an extremely well-respected choice and are regulated by the SEC, MAS, FCA, and other bodies around the world. Here as a professional trader, you can expect leverage of up to 1:400.

Again with this broker costs of trades are lower as a professional trader while they also do not charge any deposit or withdrawal fees. You will though miss out on negative balance protection if you are trading as a pro with Interactive Brokers.

In all, they are a very popular choice among professional traders since they offer an extensive range of assets for you to trade in, and all with excellent low costs and stability of trading in a secure environment.

80
Rated: Excellent
Security 95
Cost 71
Trading 71
Education 75

Platforms: Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: MAS, FCA, CFTC, MIFID-ESMA, ASIC, IIROC, SEC, CYSEC, Offshore Minimum Deposit: 0
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73.50% of retail investor accounts lose money

3. Oanda

The next top broker for professional traders we have featured is Oanda. They are again extremely well regulated with oversight from MAS, ASIC, FSA, NFA, FCA, and the IIROC. You can access leverage of up to 1:100 here.

They too have a cost-saving program in place to make the trading environment even more competitive. A VPS for pro traders is also provided that you can use through the Oanda advanced trader program. Membership in the top tier of this can reduce costs by 0.3 pips or 1.50 USD per lot traded.

As is standard with many brokers, you will not benefit from negative balance protection as a professional trader, and there are no deposit or withdrawal fees to consider.

80
Rated: Excellent
Security 94
Cost 70
Trading 71
Education 80

Platforms: MT4 Dekstop, MT5 Desktop, MT5 Web, Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: FSA, MAS, FCA, CFTC, MIFID-ESMA, ASIC, IIROC Minimum Deposit: 0
Visit Broker
73% of retail investor accounts lose money

4. Forex.com

Forex.com is another well-known broker for retail and professional traders around the world. They are regulated by the FCA, NFA, IIROC, ASIC, and CIMA. Here you will have access to leverage of up to 1:200 as a professional.

The broker does not offer any VPS service to pro traders, but you will continue to benefit from negative balance protection so you can’t lose more than you deposit here. The broker also does not charge deposit or withdrawal fees from their side.

At Forex.com you can look forward to very deep liquidity as an advanced trader when you are using their DMA account. This account type has a $20,000 minimum deposit. You will also be able to benefit from their professional cash rebates program and get up to $1.20 per lot traded.

81
Rated: Excellent
Security 95
Cost 69
Trading 75
Education 82

Platforms: MT4 Dekstop, MT4 Web, Proprietary Desktop Platform, Proprietary Web Platform Regulations: FSA, FCA, CFTC, MIFID-ESMA, IIROC, SFC, CYSEC, Offshore Minimum Deposit: 100
Visit Broker
74-89% of retail CFD accounts lose money

5. IC Markets

IC Markets is another broker that many professional traders choose as a well-regulated option. They are favored by algo traders thanks to the flexibility they offer in this area. You will have leverage of up to 1:400 available here.

You can trade with MT4, MT5, and cTrader all of which allow for algo trading with IC Markets. They also do not have a minimum deposit. This factor, along with the low spreads from 0 pips make them a very accessible choice of broker. Trades are also executed in ~35ms which is extremely fast.

At IC Markets you will be able to select from a wide range of VPS options. This can make up for the fact that the broker does not offer any dedicated rebates program.

92
Rated: Excellent
Security 93
Cost 91
Trading 100
Education 66

Platforms: cTrader desktop, cTrader web, Mirror Trader, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: ASIC, CYSEC, Offshore Minimum Deposit: 0
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75.54% of retail investor accounts lose money

6. FxPro

FXPro is one of the best-known forex brokers in the world and a popular choice for professional traders too. They are very well regulated by the FCA, CYSEC, FSCA, and SCB with leverage of up to 1:500 available.

Pro traders here will also continue to retain the benefit of negative balance protection while having access to use VPS too. When it comes to deposit or withdrawal fees from this top broker, they do not have any from their side. The only area where they do not offer a positive is in rebates. There are none of these available for high-volume traders.

80
Rated: Excellent
Security 95
Cost 58
Trading 76
Education 83

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, FSCA, CYSEC, Offshore Minimum Deposit: 100
Visit Broker
76% of retail CFD accounts lose money

7. IG Markets

IG Markets have been around in the industry since 1974 and the long-established name is another popular choice for many professional traders. Here you will find leverage of up to 1:222 available. They are also very trustworthy with regulation in place from the FCA and others.

One of the points of attraction with IG Markets is the sheer number of assets they offer. There are more than 17,000 in total and you can also spread bet as a UK or Ireland trader, trade options, or the exclusive Turbo24 contracts.

This depth of choice means it is very likely all traders will find something to suit their needs. Negative balance protection is also available as a retail or professional trader with this broker.

90
Rated: Excellent
Security 98
Cost 62
Trading 100
Education 84

Platforms: Proprietary Web Platform, MAC Platforms Regulations: FSA, MAS, FINMA, FCA, CFTC, MIFID-ESMA, ASIC, FMA, FSCA, DFSA Minimum Deposit: 300
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68% of retail investor accounts lose money

8. eToro

eToro is one of the top brokers and most recognizable names in this industry for both retail and professional traders. They have extensive regulation in place from the FCA, ASIC, CySEC, and the SEC. You will also find leverage of as much as 1:400 as a pro trader.

The broker continues to offer negative balance protection to professional traders, though there is no opportunity to use a VPS. You may also find that some deposit and withdrawal methods charge a commission, but you can reduce trading costs through the eToro Club Program.

When it comes to copy trading, as a pro trader, you can be copied by retail traders and earn commission in the process that can be a lucrative way to earn if you are highly ranked.

78
Rated: Excellent
Security 94
Cost 71
Trading 69
Education 63

Platforms: Proprietary Web Platform Regulations: FCA, CFTC, MIFID-ESMA, ASIC, CYSEC Minimum Deposit: 200
Visit Broker
79% of retail investor accounts lose money

9. AvaTrade

AvaTrade is a very well-trusted broker from Ireland with regulation in place around the world including from ASIC, FSCA, FSA, FFAJ, British Virgin Island, and the Central Bank of Ireland. You will find leverage of up to 1:400 available here.

AvaTrade still offers negative balance protection to professional traders though you will not be able to use a VPS. Like many major brokers, they will not charge any commission or fees from their side on deposits or withdrawals.

They are one of a few brokers to offer fixed spreads to traders. This also extends to pro traders where you can find competitive fixed spreads from 0.6 pips or 0.9 pips as a retail trader. On the other side, there are no rebates offered to high-volume traders.

82
Rated: Excellent
Security 94
Cost 78
Trading 75
Education 72

Platforms: Mirror Trader, ZuluTrade, MT4 Web, MT5 Web, Proprietary Web Platform, MAC Platforms Regulations: FSA, MIFID-ESMA, ASIC, IIROC, FSCA, Offshore, FSC (British) Minimum Deposit: 100
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72% of retail investor accounts lose money

10. Saxo Bank

Last but not least on our listing is Saxo Bank. They are a bank from Denmark that also operates as a trusted forex broker around the world. They provide top-quality professional service and have leverage available up to 1:66.

At Saxo Bank, you will find they operate with relatively high minimum deposits. These start from $500 in the UK but can go up to $2,000 or even as much as $1 million depending on the account type you need.

With the most exclusive account types, you can expect top VIP treatment that includes a direct line to Saxo Bank market analysts on a 24/7 basis along with priority customer support, exclusive event invites, and lowered costs on trading and commissions.

81
Rated: Excellent
Security 95
Cost 67
Trading 75
Education 76

Platforms: Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: FSA, MAS, FINMA, FCA, MIFID-ESMA, ASIC, SFC, FSCA, DFSA, CYSEC Minimum Deposit: 2000

What is a professional forex trader?

A professional forex trader is someone who trades the forex market, speculating on forex currencies, and studying charts and data, tries to make a profit and ultimately a living in a professional capacity from trading the forex market. They differ from a retail trader in the sense it is likely a professional trader will dedicate to forex trading full time.

Forex trading is still risky, but it is more likely a pro trader can make a successful living thanks to their knowledge and experience in the industry.

How to become a professional forex trader

In every major regulatory area, including the EU, UK, Australia, Canada, and others, there are requirements you will need to meet to be designated a professional trader. These typically relate to trading in high volumes, having experience with managing large amounts of money, and having professional financial work experience in the forex/CFD area.

Using ESMA for EU regulations as an example, you must meet two of the following requirements:

  • Have working experience in the field of forex or CFD (or related fields) of at least 1 year
  • You opened at least ten significantly sized transactions per quarter during the past year
  • You have a financial portfolio exceeding 500,000 EUR in value

How long does it take to become a professional forex trader?

An average forex trader takes at least 2 years of continuous practice to become a professional forex trader. It takes time and dedication. Forex traders must:

  • Control emotions while trading to avoid closing positions out of fear
  • Know how to control risk to earn more than they will lose
  • Know the market to understand how a certain thing can move the prices
  • Know when and how to stop to avoid being too greedy or keep trading on a bad day

The best steps to follow for getting started are listed below.

  1. Open a forex demo account to get a grasp of forex trading in a risk-free environment.
  2. Start studying and trading at the same time. You can apply for a forex trading course or using online content such as babypips and lots of other great educational forex content.
  3. Open a low-budget trading account so you are not risking huge amounts of money. You can use cent accounts for this purpose.
  4. Open a regular brokerage account with a forex broker when you feel ready to engage in full live trading.

How much do professional forex traders make?

Professional forex traders on average try to achieve a profit of 5-15% per month. This means that on a $10,000 account, trying to generate between $7,000 to $36,500 per year taking into account the compound income.

There are also always extreme examples, with some forex traders who can make over $2,000 in one day, and also lose similar amounts or more in the following days.


About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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