Largest Forex Brokers in the World by Volume

filippo ucchino Filippo Ucchino calendar Last Updated: June 2022 timer 8 Min Read

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.

We have collected a selection of the largest brokers in the world by volume.

Here’s what we considered while creating this list, aside from the ADVT (Average Daily Transaction Volume):

  • Minimum deposit requested
  • Number of assets
  • Spreads on forex
  • Platforms offered
Table of Content

Round-up

The table below shows the comparison between the largest forex brokers in the world by volume in 2022:

Largest brokers ADVT (Billion USD)
IC Markets 18.9
Forex.com 15.5
XM 13.4
Saxo Bank 12.3
HotForex 11.5
Oanda 10.7
AvaTrade 7.8
IG Markets 6.8
Pepperstone 6.7
FxPro 6.5

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

Top 10 Largest Forex Brokers in the World by Volume: 2022 review

1. IC Markets

  • IC Markets is the largest forex broker in the world by volume with an impressive ADVT of 18.9 billion USD.
  • IC Markets requires a $200 minimum deposit in order to start.
  • There are 200+ tradable assets on IC Markets, including 60+ forex pairs.
  • IC Markets spreads start from 0 pips on forex.
  • The platforms IC Markets provides are cTrader, MT4, and MT5.

Visit IC Markets
(74-89% of retail CFD accounts lose money)

2. Forex.com

  • Forex.com boasts an impressive ADVT of 15.5 billion USD.
  • It requests a $100 minimum deposit to open a trading account.
  • Forex.com offers over 4,500 tradable instruments for its clients to choose from, including 80+ forex pairs.
  • Forex.com spreads start from 0.2 pips on forex.
  • You can use Forex.com trading platforms such as MT4, MT5, and their Proprietary Platform.

Visit Forex.com
80% of retail CFD accounts lose money

3. XM

  • XM has an ADVT of 13.4 billion USD.
  • The minimum deposit XM clients need to make in order to start is $5.
  • 1000+ tradable assets can be traded by XM traders, 55+ of these are currency pairs.
  • XM spreads start from 0 pips on forex.
  • XM Clients can use the MT4 platform, as well MT5.

Visit XM
73.57% of retail CFD accounts lose money

4. Saxo Bank

  • Saxo’s ADVT is estimated to be 12.3 billion USD.
  • $2000 is the minimum deposit requested by Saxo Bank.
  • Clients have access to over 40,000 tradable Saxo Bank instruments, including 190+ forex currency pairs.
  • The spreads at Saxo start from 0.6 pips on forex.
  • SaxoTraderGO and SaxoTraderPRO are the two top proprietary trading platforms provided.

Visit Saxo Bank
72% of retail CFD accounts lose money

5. HotForex

  • HotForex has an ADVT of 11.5 billion USD.
  • Clients can open a HotForex account with a minimum deposit starting from $5.
  • HotForex has over 1000+ tradable instruments, including 80+ forex pairs.
  • Spreads at HotForex start from 0 pips on forex.
  • The trading platforms provided by HotForex are MT4, MT5, and HF Copy.

Visit HotForex
(70.77% of retail CFD accounts lose money)

6. Oanda

  • Oanda’s ADVT is estimated at $10.7 billion USD.
  • There is no Oanda minimum deposit.
  • The number of assets provided by Oanda is around 100-150, with 70+ currency pairs included in this number.
  • The spreads charged by Oanda start from 0.6 pips, but for Australian clients, spreads can start as low as 0 pips.
  • Oanda trading platforms include MT4 and Oanda Trade Platform.

Visit Oanda
73.5% of retail CFD accounts lose money

7. AvaTrade

  • AvaTrade’s ADVT stands at $7.8 billion.
  • The minimum deposit amount AvaTrade requests to open an account is $100.
  • There are 1200+ assets provided by AvaTrade, with 60+ being forex pairs.
  • AvaTrade is the only broker on the list which charges fixed spreads from 0.6 pips on forex.
  • AvaTrade trading platforms include MT4, MT5, AvaTradeGO AvaOptions, their Proprietary WebTrader, and AvaSocial.

Visit Avatrade
(79% of retail CFD accounts lose money)

8. IG Markets

  • IG Markets have over $6.8 billion ADVT.
  • The IG Markets minimum deposit clients need is $250.
  • Traders have access to over 17,000 tradable instruments, with 80+ forex pairs.
  • IG clients will have access to spreads starting from 0.6 pips on forex.
  • IG Markets’ trading platforms are MT4, L2 Dealer, and ProRealTime.

Visit IG Markets
(76% of retail investor accounts lose money)

9. Pepperstone

  • Pepperstone has an ADVT of $6.7 billion USD.
  • Clients who want to open a Pepperstone account do not need to meet a minimum deposit.
  • Pepperstone offers 200+ tradable instruments, including 60+ forex pairs.
  • Pepperstone has spreads starting from 0 pips.
  • MT4, MT5, and cTrader are the platforms offered by Pepperstone.

Visit Pepperstone
(75.9% of retail CFD accounts lose money)

10. FxPro

  • FxPro has an ADVT of $6.5 billion USD.
  • The minimum deposit requested by FxPro is $100.
  • 400+ tradable instruments are available with FxPro, including 70+ forex currency pairs.
  • FxPro spreads start from 0 pips on forex.
  • The trading platforms provided by FxPro are MT4, MT5, cTrader, and FxPro Edge.

Visit FxPro
72.87% of retail CFD accounts lose money

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 Daily Transaction Volume (ADVT).

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 ADVT 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 ADVT of at least a billion dollars (more than 10,000 standard lots traded daily).


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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