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2026 Annual Review
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2026 edition · 10 brokers

Compare brokers side by side

One table, every broker in the annual review, every figure taken from our own testing or from a regulator's public register. Sorted by Trust Score; the widest columns are the ones that most often decide which broker a reader actually opens.

Cheapest observed spread: Pepperstone at 0.60 pips · Longest operating: OANDA, since 1996 · Most tier-1 licences: OANDA with 5

Master table

Headline comparison

Scroll horizontally for the full row.

#BrokerOverallTrustEUR/USDCost /lotMin. dep.Max leverageT1FoundedPlatforms
1OANDA8.5981.00$10.00none1:50 (US) / 1:30 (UK retail)51996MT4, MT5, OANDA Trade, TradingViewVisit
2FOREX.com8.7931.00$10.00$1001:50 (US) / 1:30 (UK retail)42001MT4, MT5, TradingView, Web TraderVisit
3Pepperstone8.8870.60$6.00none1:30 (retail, EU/UK)32010MT4, MT5, cTrader, TradingViewVisit
4AvaTrade8.4820.90$9.00$1001:30 (retail) / up to 1:400 (offshore)22006MT4, MT5, AvaTradeGO, WebTraderVisit
5Plus5008.1820.60$6.00$1001:30 (retail)22008Plus500 WebTrader, Plus500 AppVisit
6FxPro8.8780.90$9.00$1001:30 (retail) / up to 1:500 (offshore)12006MT4, MT5, cTrader, FxPro EdgeVisit
7eToro7.8761.00$10.00$501:30 (retail)22007eToro Platform, eToro AppVisit
8XM8.2650.80$8.00$51:30 (retail) / up to 1:1000 (offshore)12009MT4, MT5Visit
9Exness8.1640.70$7.00$10up to 1:2000 (offshore)12008MT4, MT5, Exness TerminalVisit
10IC Markets8.1630.62$6.20$2001:30 (retail) / 1:500 (offshore)12007MT4, MT5, cTraderVisit

Cost per lot is the spread cost of a one-lot EUR/USD round turn at the observed spread, excluding commission on raw accounts. Leverage caps vary by regulator and by client classification — the retail cap is the one that applies to most readers.

Pillar matrix

Where each broker is strong

Pillar scores out of 10, straight from the scorecards.

BrokerFeesSafetyPayoutsPlatformsProductsResearchSupportOnboarding
OANDA8.39.78.28.88.08.17.98.6
FOREX.com8.79.78.39.08.28.58.48.5
Pepperstone9.19.58.78.98.87.98.68.5
AvaTrade7.89.28.08.58.77.98.38.4
Plus5008.29.58.37.88.86.57.58.2
FxPro8.99.78.39.28.87.58.58.7
eToro6.59.07.08.59.07.56.88.0
XM7.57.88.08.58.08.88.28.5
Exness8.87.59.28.07.57.08.08.5
IC Markets8.77.58.09.08.56.88.27.8
Regulation

Licences held, by broker

Every entry checked against the issuing authority's own register.

BrokerEntitiesAuthorities (green tier-1, blue tier-2, amber tier-3)
OANDA5
FCA · UKCFTC/NFA · USAASIC · AustraliaIIROC · CanadaMAS · Singapore
FOREX.com5
CFTC/NFA · USAFCA · UKASIC · AustraliaCIRO · CanadaCIMA · Cayman
Pepperstone7
FCA · UKASIC · AustraliaCySEC · CyprusBaFin · GermanyDFSA · UAECMA · KenyaSCB · Bahamas
AvaTrade5
Central Bank of Ireland · IrelandASIC · AustraliaFSCA · South AfricaFSA · JapanADGM · Abu Dhabi
Plus5005
FCA · UKCySEC · CyprusASIC · AustraliaFMA · New ZealandFSCA · South Africa
FxPro4
FCA · UKCySEC · CyprusFSCA · South AfricaSCB · Bahamas
eToro3
FCA · UKCySEC · CyprusASIC · Australia
XM4
CySEC · CyprusASIC · AustraliaDFSA · UAEIFSC · Belize
Exness4
FCA · UKCySEC · CyprusFSCA · South AfricaFSA · Seychelles
IC Markets3
ASIC · AustraliaCySEC · CyprusFSA · Seychelles

This page shows the headline fields only. All 24 published fields are laid out on the data explorer, and the derivation of the trust column is on the Trust Score page.