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Our top alternative brokers to Forex.com
Oanda
4.4
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73.5% of retail CFD accounts lose money
IG
4.5
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74-89% of retail CFD accounts lose money
Our top alternative brokers to Forex.com
Oanda
4.4
Visit broker
73.5% of retail CFD accounts lose money
IG
4.5
Visit broker
74-89% of retail CFD accounts lose money
Forex.com Alternatives

The best alternatives to Forex.com are

  1. Oanda - US forex broker
  2. IG - Global CFD and forex broker
  3. Interactive Brokers - US discount broker

Let's see in a bit more detail how the Forex.com alternatives compare to Forex.com and each other:

Forex.com alternatives comparison
Forex.com Oanda IG Interactive Brokers
Overall score 4.4 4.4 4.5 4.9
Fees score 3.7 stars 2.9 stars 2.7 stars 4.0 stars
Account opening score 4.4 stars 4.4 stars 4.4 stars 3.4 stars
Deposit and withdrawal score 4.3 stars 4.2 stars 4.5 stars 3.5 stars
Web platform score 4.3 stars 4.5 stars 5.0 stars 4.3 stars
Markets and products score 1.9 stars 1.6 stars 4.0 stars 5.0 stars
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74% of retail CFD accounts lose money
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73.5% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money
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Why are these brokers considered good alternatives to Forex.com? There are many areas based on which Forex.com can be compared with others. When we say a given online broker is a good alternative to Forex.com we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

Forex.com alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • Forex.com is recommended for forex traders looking for low fees and great research tools
  • Oanda is recommended for forex traders who value a user-friendly platform and great research tools
  • IG is recommended for traders of any experience level looking for an easy-to-use trading platform
  • Interactive Brokers is recommended for traders looking for low fees and a professional trading environment

Important factors of finding Forex.com alternatives

So far BrokerChooser has reviewed 77 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether Forex.com or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Forex.com is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Forex.com alternative.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Forex.com, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Forex.com alternative is a must.


Now let's dive into the details of how Forex.com and its alternatives perform in the most important areas!

Forex.com alternatives
Forex.com

Forex.com is a global FX and CFD broker established in 2001. Forex.com is a brand of GAIN Capital, which is listed on the New York Stock Exchange. The company is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK and the US Commodity Futures Trading Commission (CFTC).

Forex.com is considered safe because it has a long track record, is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for low fees and great research tools

Pros Cons
Low forex fees Limited product portfolio
Great variety of currency pairs High stock CFD fees
Diverse technical research tools Non-user-friendly desktop platform

Visit broker
74% of retail CFD accounts lose money

Fees
3.7

Forex.com has low fees for forex trades and there is no withdrawal fee. On the other hand, stock CFD fees are high and there is an inactivity fee.
Pros Cons
Low forex fees Inactivity fee
No withdrawal fee High stock CFD fees
Low stock index CFD fees
Forex.com alternatives trading fees
Forex.com Oanda IG Interactive Brokers
EURUSD benchmark fee $6.4 $14.6 $17.3 $11.2
EURGBP benchmark fee $7.4 $15.5 $16.6 $10.5

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

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74% of retail CFD accounts lose money

Account opening
4.4

Forex.com's account opening is seamless and fully digital, with a low minimum deposit. On the other hand, account verification takes around 2 business days, which is not the fastest on the market.
Pros Cons
Fully digital Relatively slow account verification
Low minimum deposit
User-friendly
Forex.com alternatives minimum deposit and account open times
Forex.com Oanda IG Interactive Brokers
Minimum deposit $100 $0 $0 $0
Time to open account 1-3 days 1-3 days 1-3 days 1-3 days

Learn more about Forex.com minimum deposit here.

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74% of retail CFD accounts lose money

Deposit and withdrawal
4.3

Forex.com provides multiple deposit and withdrawal options, all free of charge. However, withdrawal is not possible with some credit cards.
Pros Cons
Credit/Debit card available Problem with credit card withdrawal
Free withdrawal
No deposit fee
Forex.com and alternatives withdrawal options and fees
Forex.com Oanda IG Interactive Brokers
Bank transfer Yes Yes Yes Yes
Credit/debit card Yes Yes Yes No
Electronic wallets Yes Yes Yes No
Withdrawal fee $0 $0 $0 $0

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74% of retail CFD accounts lose money

Web trading platform
4.3

Forex.com's web trading platform is user-friendly and extremely customizable, with lots of order types. On the negative side, there is no two-step login.
Pros Cons
User-friendly No two-step (safer) login
Good customizability (for charts, workspace)
Good variety of order types
Forex.com - Web trading platform
Forex.com and alternatives trading platform scores
Forex.com Oanda IG Interactive Brokers
Web platform score 4.3 stars 4.5 stars 5.0 stars 4.3 stars
Mobile platform score 4.3 stars 5.0 stars 5.0 stars 3.5 stars
Desktop platform score 3.0 stars 4.5 stars - 3.0 stars

Learn more about Forex.com's web trading platform in the detailed Forex.com review.

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74% of retail CFD accounts lose money

Markets and products
1.9

At Forex.com, you can only trade with forex, CFDs and cryptos. Other asset classes, like real stocks or funds, are not available.
Forex.com and alternatives markets and products
Forex.com Oanda IG Interactive Brokers
Stock No No Yes Yes
ETF No No Yes Yes
Forex Yes Yes Yes Yes
Fund No No No Yes
Bond No No No Yes
Options No No Yes Yes
Futures No No No Yes
CFD Yes Yes Yes Yes
Crypto Yes No Yes Yes

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74% of retail CFD accounts lose money

Verdict

Forex.com is a great forex and CFD broker regulated by several financial authorities, such as the UK's FCA and the US CFTC.

On the positive side, it has low forex fees, many tradable currency pairs, and high-quality research tools.

It has some drawbacks though. Popular assets like real stocks or bonds are not provided. Stock CFD fees are quite high, and the desktop platform is not easy to use.

Since there is no inactivity fee unless you don't trade for one year, feel free to try Forex.com today.

Forex.com
Summary Forex.com is a global forex and CFD broker, regulated by many financial authorities including the top-tier UK FCA. Its parent company, GAIN Capital is listed on the New York Stock Exchange.
Fees score 3.7 stars
Recommended for Forex traders looking for low fees and great research tools

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74% of retail CFD accounts lose money

Forex.com alternatives
Oanda

Oanda is an American forex broker founded in 1996. It is still a private company, thus not listed on any stock exchange.

Oanda is regulated by top-tier authorities, such as the US Commodity Trading Futures Commission, the National Futures Association (CFTC) and the UK's Financial Conduct Authority (FCA). 

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The services offered by the broker's different entities differ slightly. In this review, we mainly focus on the UK one.

Recommended for forex traders who value a user-friendly platform and great research tools

Pros Cons
Low trading fees Only FX and CFD available
Great trading platforms No stock exchange listing and banking background
Outstanding research tools Withdrawal fee can be high

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73.5% of retail CFD accounts lose money

Fees
2.9

Oanda charges low forex fees. Non-trading fees, such as the inactivity fee and withdrawal fees, are average.
Pros Cons
Low trading fees High withdrawal fee for bank transfers
Low forex fees
First credit/debit card withdrawal per month is free
Forex.com vs. Oanda: Trading fees
Oanda Forex.com
EURUSD benchmark fee $14.6 $6.4
EURGBP benchmark fee $15.5 $7.4

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

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73.5% of retail CFD accounts lose money

Account opening
4.4

Oanda's account opening is straightforward, with no required minimum balance.
Pros Cons
Fully digital None
No minimum deposit
Forex.com vs. Oanda: Minimum deposit, time to open an account
Oanda Forex.com
Minimum deposit $0 $100
Time to open account 1-3 days 1-3 days

If you are interested more in Oanda minimum deposit, this overview will help you.

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73.5% of retail CFD accounts lose money

Deposit and withdrawal
4.2

Oanda charges no deposit and account fees. The inactivity fee is also reasonable. You can also withdraw your money free of charge with a debit or credit card, but bank transfers and PayPal withdrawals are quite costly.
Pros Cons
Credit/Debit card available High withdrawal fee for bank transfers and PayPal
Free withdrawal
No deposit fee
Forex.com vs. Oanda: Withdrawal options
Oanda Forex.com
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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73.5% of retail CFD accounts lose money

Web trading platform
4.5

Oanda's web trading platform is user-friendly and safe with good customizability. On the downside, you can't set price alerts.
Pros Cons
User-friendly No price alerts
Clear fee report
Two-step (safer) login
Web trading platform of Oanda, a Forex.com alternative
Forex.com vs. Oanda: Trading platform scores
Oanda Forex.com
Web platform score 4.5 stars 4.3 stars
Mobile platform score 5.0 stars 4.3 stars
Desktop platform score 4.5 stars 3.0 stars

Learn more about Oanda's web trading platform in the detailed Oanda review.

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73.5% of retail CFD accounts lose money

Markets and products
1.6

At Oanda you can trade only forex and CFDs. It offers fewer forex pairs but more CFDs than its closest competitors.
Forex.com vs. Oanda: Markets and products
Oanda Forex.com
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto No Yes

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73.5% of retail CFD accounts lose money

Verdict

Oanda is a great forex broker: its trading fees are low and it has user-friendly trading platforms that you will quickly learn to use confidently. It also provides powerful research tools, especially trading APIs.

On the other hand, Oanda has a limited product portfolio, with only forex and CFD products available. It doesn't have a banking background and is not listed on any stock exchange, two typical factors that enhance transparancy and regulatory scrutiny. Withdrawal fees can also be high.

Feel free to try Oanda: it is regulated by top-tier regulators, there is no minimum deposit, and the inactivity fee only kicks in after one year.

Oanda
Summary Oanda is a US forex broker. It is regulated by top-tier authorities like the UK FCA and Australia's ASIC.
Fees score 2.9 stars
Recommended for Forex traders who value a user-friendly platform and great research tools

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73.5% of retail CFD accounts lose money

Forex.com alternatives
IG

IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

Recommended for traders of any experience level looking for an easy-to-use trading platform

Pros Cons
First-class web trading platform High forex and stock CFD fees
Superb educational tools Limited product portfolio
Great deposit and withdrawal options Slow customer support

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74-89% of retail CFD accounts lose money

Fees
2.7

IG has low non-trading fees. There is no fee for withdrawals and an inactivity fee is charged only after 2 years. On the negative side, the forex and stock CFD fees are high.
Pros Cons
No withdrawal fee High forex fees
Inactivity fee charged only after 2 years High stock CFD trading fees
Forex.com vs. IG: Trading fees
IG Forex.com
Apple benchmark fee $31.3 $21.3
Vodafone benchmark fee $27.6 $27.6
EURUSD benchmark fee $17.3 $6.4

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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74-89% of retail CFD accounts lose money

Account opening
4.4

IG's account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $/€300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.
Pros Cons
Fully digital Slower account opening
Low minimum deposit
No minimum deposit for bank transfer
Forex.com vs. IG: Minimum deposit, time to open an account
IG Forex.com
Minimum deposit $0 $100
Time to open account 1-3 days 1-3 days

If you are interested more in IG minimum deposit, this overview will help you.

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74-89% of retail CFD accounts lose money

Deposit and withdrawal
4.5

IG offers free and fast deposits and withdrawals. There are various options for funding your account, including traditional methods such as bank wire transfer and credit card funding, as well as PayPal.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
Forex.com vs. IG: Withdrawal options
IG Forex.com
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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74-89% of retail CFD accounts lose money

Web trading platform
5.0

IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Web trading platform of IG, a Forex.com alternative
Forex.com vs. IG: Trading platform scores
IG Forex.com
Web platform score 5.0 stars 4.3 stars
Mobile platform score 5.0 stars 4.3 stars
Desktop platform score - 3.0 stars

Learn more about IG's web trading platform in the detailed IG review.

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74-89% of retail CFD accounts lose money

Markets and products
4.0

At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real stocks. Other popular assets, however, like mutual funds and bonds, are not available.
Forex.com vs. IG: Markets and products
IG Forex.com
Stock Yes No
ETF Yes No
Forex Yes Yes
Fund No No
Bond No No
Options Yes No
Futures No No
CFD Yes Yes
Crypto Yes Yes

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74-89% of retail CFD accounts lose money

Verdict

IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.

IG has one of the best web trading platforms BrokerChooser has tested. The deposit and withdrawal conditions are great. You can also expand your knowledge with great educational materials.

On the other hand, there are some drawbacks. The forex and stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs and options. Customer support could be better.

Feel free to test IG's first-class trading platform, since there is no minimum funding amount for bank transfers and you can also easily open a demo account. 

IG
Summary IG is a CFD and forex broker. It is listed on the London Stock Exchange and regulated by several authorities globally, including the top-tier FCA.
Fees score 2.7 stars
Recommended for Traders of any experience level looking for an easy-to-use trading platform

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74-89% of retail CFD accounts lose money

Forex.com alternatives
Interactive Brokers

Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Recommended for traders looking for low fees and a professional trading environment

Pros Cons
Low trading fees Complicated account opening process
Wide range of products Complex desktop trading platform
Many great research tools High inactivity fee

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Fees
4.0

Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
Pros Cons
Low trading fees Inactivity fee
Free stock and ETF trading for US clients
Low margin rates
Forex.com vs. Interactive Brokers: Trading fees
Interactive Brokers Forex.com
Apple benchmark fee $2.3 $21.3
Vodafone benchmark fee $16.3 $27.6
EURUSD benchmark fee $11.2 $6.4

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
3.4

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.
Pros Cons
Fully digital Not user-friendly
No minimum deposit for most account types Confusing messages throughout the process
Forex.com vs. Interactive Brokers: Minimum deposit, time to open an account
Interactive Brokers Forex.com
Minimum deposit $0 $100
Time to open account 1-3 days 1-3 days

If you are interested more in Interactive Brokers minimum deposit, this overview will help you.

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Deposit and withdrawal
3.5

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies
First withdrawal each month free
Forex.com vs. Interactive Brokers: Withdrawal options
Interactive Brokers Forex.com
Bank transfer Yes Yes
Credit/debit card No Yes
Electronic wallets No Yes
Withdrawal fee $0 $0

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Web trading platform
4.3

Interactive Brokers's web platform is simple and easy to use, even for beginners. On the negative side, it is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Web trading platform of Interactive Brokers, a Forex.com alternative
Forex.com vs. Interactive Brokers: Trading platform scores
Interactive Brokers Forex.com
Web platform score 4.3 stars 4.3 stars
Mobile platform score 3.5 stars 4.3 stars
Desktop platform score 3.0 stars 3.0 stars

Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.

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Markets and products
5.0

Through Interactive Brokers you can access an extremely wide range of markets and all product types are available.
Forex.com vs. Interactive Brokers: Markets and products
Interactive Brokers Forex.com
Stock Yes No
ETF Yes No
Forex Yes Yes
Fund Yes No
Bond Yes No
Options Yes No
Futures Yes No
CFD Yes Yes
Crypto Yes Yes

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Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker for advanced traders.

On the plus side, IB has low fees, a vast range of markets and products available with diverse research tools

There are some drawbacks though: there is a high inactivity fee and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers could be a great fit for you.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC.
Fees score 4.0 stars
Recommended for Traders looking for low fees and a professional trading environment

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Forex.com alternatives
Bottom line

Based on our analysis, there are several good alternatives to Forex.com. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Forex.com alternatives
Broker Info Recommended for
Forex.com Global CFD and forex broker Forex traders looking for low fees and great research tools
Oanda US forex broker Forex traders who value a user-friendly platform and great research tools
IG Global CFD and forex broker Traders of any experience level looking for an easy-to-use trading platform
Interactive Brokers US discount broker Traders looking for low fees and a professional trading environment

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Ádám Nasli

Author of this article

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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74% of retail CFD accounts lose money
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73.5% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money
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