Largest Forex Brokers in the World by Volume
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.
In our Best Forex Brokers article, we give Forex traders an insight into the leading brokers in the industry.
This article takes a look at the largest Forex brokers in the world by volume.
Before we present the list, how do we rank these brokers?
Table of contents
How to Rank the Largest Forex Brokers
Forex brokers aren’t ranked randomly. Several factors should be considered when ranking Forex brokers. However, the most relevant ranking criteria for Forex brokers is the Average Volume of Daily Transactions (AVDT).
The volatility of the value of a broker’s daily transactions is dependent on the number of active clients the broker has. The more active the clients are, the less volatile the broker’s AVDT and vice versa.
To make the value relevant, the number of active clients for at least 3 months is considered. For a broker to be considered large, it must have an AVDT of at least a billion dollars (more than 10,000 standard lots traded daily).
Largest Forex Brokers in the World by Volume for 2022
Using the rating parameters discussed above, we present a list of the largest Forex brokers in the world by volume for the outgoing year, 2022.
IC Markets isn’t a newcomer in the Forex broking business. The experienced broker is regulated by the trio of CySEC, ASIC, and FSA.
The ECN broker can pull its weight with an impressive AVDT of 18.9 USD. IC Markets’ clients have access to over 200 tradable instruments if they have the necessary trading skills to trade with real money on its Live account. Otherwise, they may learn the skills on its demo account that allow them to hone their skills for as long as they want.
The minimum deposit amount is $0, opening the door wide for prospective clients to trade on the platform whose spread starts from 0 pips. IC Markets’ trading platforms include MT4, MT5, and cTrader.
A Forex broker that is regulated by some of the best regulators in the industry such as FCA, ASIC, NFA, CFTC, IIROC, and CIMA is undoubtedly a force to reckon with.
As an STP/Market Maker broker, Forex.com boasts an impressive AVDT of 15.5 billion USD and offers over 4,500 tradable instruments for its clients to choose from and trade.
If you don’t already have the necessary trading skills or your skills are outdated, head to the Demo Account section and polish your skills. With a minimum deposit of $50, you can switch from the Demo account to the Live account and put your knowledge to good use.
The broker’s spreads start from 0.2 pips and you can use its trading platforms such as MT4, MT5, and Forex.com Trading Platform.
The third on this list is a broker with years of experience in the business. CySEC, ASIC, DFSA, and IFSC are the major regulators overseeing this broker’s activities. XM is a Market maker broker with an AVDT of 13.4 billion USD.
Over 1,000 tradable instruments are available for trading if you meet the minimum deposit of $5 condition. However, if you are not confident of your trading skills, the broker offers a Demo account to learn more trading tricks before trading with money on the Live account.
When using its MT4 and MT5 trading platforms, enjoy its spreads that start from 0 pips.
Besides being a large Forex broker, Saxo Bank is heavily regulated by the heavyweights in the regulatory industry such as FCA, ASIC, MAS, FINMA, JFSA, SFC HK, and the UAE Central Bank.
Saxo Bank is an STP/Market Maker broker and its AVDT of 12.3 billion USD puts it in the fourth position among the largest Forex brokers by volume in the world. The broker offers over 40,000 tradable instruments you can only access after meeting its $500 minimum deposit requirement.
If you’re concerned about your trading knowledge or skills, the broker’s Demo Account section is the place to be. In this section, there are tons of resources that can help you acquire the necessary trading skills. Gather more knowledge before investing your money as a risk management measure.
Its spreads start from 0.4 pips when trading on SaxoTraderGO and SaxoTraderPRO, its trading platforms.
The fifth on the list is HotForex, an ECN/STP broker duly regulated by big regulators such as CySEC, FCA, DFCA, FSCA, FSC, FSA, and SV.
With an AVDT of 11.5 billion USD, the broker has over a hundred tradable instruments for its client after paying the minimum deposit of $5. New and inexperienced traders may first visit the Demo Account section to learn the trade before trading with real money.
The broker’s spreads start from 0 pips, a value you can leverage when trading on any of its trading platforms such as MT4, MT5, and HF Copy.
Oanda is another broker with a plethora of regulators overseeing its activities. It’s regulated by ASIC, MAS, FSA, FCA, NFA, and IIROC.
Oanda is a Market Maker broker whose AVDT is estimated at $10.7 billion. It offers access to several tradable instruments to allow its clients to choose whatever catches their fancy to trade.
Its Demo account doesn’t come with a time restriction, helping newbies and inexperienced traders to have enough time to learn the skills they need to succeed in the industry.
The minimum deposit on Oanda is $0 and it offers spreads starting from 0.6 pips, although Australian traders are offered a lower spread from 0 pips.
Its trading platforms include MT4 and Oanda Trade Platform.
The Central Bank of Ireland (CBI) and a host of other regulators such as ASIC, FSCA, FFAJ, FSA, and BVI regulates the Market Maker broker whose AVDT stands at $7.8 billion.
The large Forex broker gives its clients access to over 200 tradable instruments they can choose and trade after paying the minimum deposit amount of $100.
Offering a Demo account with 21 days restriction, its clients have enough time to work on their skills or learn new ones before trading with real money on the broker’s Live account.
Spreads start from 0.9 pips if you trade on its trading platforms such as MT4, MT5, AvaTradeGO AvaOptions, and AvaSocial.
IG Markets is another member of the list with a long list of regulators: FCA, ASIC, FMA, FSCA, NFA, MAS, DFSA, JFSA, FINMA, and BMA.
As a DMA broker, IG Markets over $6.8 billion AVDT qualifies it as a member of an elite group of successful Forex brokers with large values.
If you’re inexperienced in the industry, learn valuable trading skills by taking advantage of the unlimited training days the broker offers on its Demo account. Otherwise, pay the minimum deposit of $250 and access over 17,000 tradable instruments, and enjoy spreads starting from 0.6 pips.
IG Markets’ trading platforms are MT4, L2 Dealer, and ProRealTime.
Pepperstone is an ECN/STP broker under the regular watch of some of the major regulatory bodies such as CySEC, FCA, ASIC, DFSA, SCB, and CMA.
The broker boasts $6.7 billion and offers its clients some 180 tradable instruments after meeting the initial deposit amount of $0, an incentive for all prospective traders to join the broker. Its Demo account offers unlimited time for new traders who want to work on their skills before trading on a Live account with their real money.
While trading on its trading platforms such as MT4, MT5, and cTrader, enjoy its spreads starting from 0 pips.
The 10th member of this elite group of large Forex brokers by volume is FxPro. The broker is regulated by CySEC, FCA, FSCA, and SCB.
FxPro is an NDD with Agency Model broker and has an AVDT of $6.5 billion and offers over 260 tradable instruments via its Live account you can gain access to after paying the minimum deposit of $100.
The broker offers a Demo account to help new and inexperienced traders to acquire more training knowledge for however long they want. If you desire to hone your skills, leverage the scores of helpful training resources offered by the account to become a more knowledgeable trader.
Its spreads start from 0 pips on its trading platforms such as MT4, MT5, cTrader, and FxPro Edge.
Round-up of the largest forex brokers in the world by volume
The table below shows the comparison between the largest forex brokers in the world by volume in 2021:
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
| Largest brokers | AVDT (Billion USD) | Minimum deposit | Spread from |
|---|---|---|---|
| IC Markets | 18.9 | $0 | 0 pips |
| Forex.com | 15.5 | $50 | 0.2 pips |
| XM | 13.4 | $5 | 0 pips |
| Saxo Bank | 12.3 | $500 | 0.4 pips |
| HotForex | 11.5 | $5 | 0 pips |
| Oanda | 10.7 | $0 | 0.6 pips |
| AvaTrade | 7.8 | $100 | 0.9 pips |
| IG Markets | 6.8 | $250 | 0.6 pips |
| Pepperstone | 6.7 | $0 | 0 pips |
| FxPro | 6.5 | $100 | 0 pips |
If you are looking for the largest Forex brokers in the world this year, you have them here. These are regulated brokerages with billions of dollars’ worth of AVDT and scores of tradable instruments to choose from and trade at your convenience.
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