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.
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|
|Interactive Brokers||0 USD||1:400|
|IC Markets||0 USD||1:500|
|IG Markets||300 USD||1:222|
|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.
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.
- Open a forex demo account to get a grasp of forex trading in a risk-free environment.
- 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.
- Open a low-budget trading account so you are not risking huge amounts of money. You can use cent accounts for this purpose.
- 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.
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