Choosing the right broker is one of the most important decisions you will make as a trader. The brokers listed here offer far more than just forex — you can trade indices, commodities, crypto, and stocks alongside currency pairs, all from the MetaTrader platform. We recommend ECN-style brokers with low spreads and no dealing desk interference. All of the WaveFX tools are built for MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and work with any of the brokers below. We have separated our recommendations into two categories: regulated brokers for international traders, and unregulated brokers for traders in regions where regulated access is limited. Each broker is reviewed honestly — we note the pros and the risks so you can make an informed decision.

◆ Regulated Brokers Multi-regulated by ASIC, FCA, CySEC and other top-tier authorities. Segregated client funds and negative balance protection included. Not available to US residents.

Highly Recommended

IC Markets

STP / ECN Style • MT4, MT5, cTrader & TradingView
Restricted Countries Apply
Not available in: United States, Canada, Israel, Brazil, New Zealand, Iran, North Korea, Cuba, Syria, Sudan, and other OFAC-sanctioned jurisdictions. EU residents: You will be served by IC Markets EU (CySEC-regulated) with retail leverage capped at 1:30 in line with ESMA regulations. Professional clients may qualify for higher leverage — check IC Markets EU for eligibility requirements. IC Markets also operates a separate Global entity (regulated by the FSA in Seychelles) which offers leverage up to 1:500. It is worth understanding the differences between the two entities and deciding which is the right fit for your situation. Check IC Markets' registration page or contact their support to confirm availability in your country.
Min. Deposit
$200
Min. Lot Size
0.01
Spreads From
0.0 pips
Leverage Up To
500:1

What You Can Trade — 2,250+ Instruments

61
Forex Pairs
2,100+
Stock CFDs
25
Indices
22
Commodities
21
Crypto CFDs
9
Bond CFDs
4
Futures CFDs

Account Types

Raw Spread (Recommended)
Spreads from 0.0 pips
$3.50 per lot per side ($7 round turn)
Avg. EUR/USD spread: 0.1 pips
Standard
No commission
Spreads from 0.8 pips
Avg. EUR/USD spread: 0.62 pips
Great for beginners

IC Markets are one of the largest Forex CFD providers in the world by trading volume, processing over 3.6 million trades per day from their Equinix NY4 data centre in New York with average execution speeds under 40ms. Founded in Sydney in 2007 and regulated by ASIC, CySEC, and FSA, they operate a true ECN environment with no dealing desk, no requotes, and no price manipulation, aggregating pricing from over 25 institutional-grade liquidity providers. Their instrument range is one of the broadest available — commodities include spot metals (gold, silver, platinum, palladium), energies (crude oil, Brent, natural gas), and soft commodities (wheat, corn, soybeans, coffee, sugar, cocoa, cotton). Stock CFDs cover the ASX, NYSE, and NASDAQ exchanges on the MT5 platform. Social and copy trading is available through IC Social, cTrader Copy, ZuluTrade, and Myfxbook, plus free VPS hosting for clients trading 15+ lots per month. Swap-free Islamic accounts are available on all account types. Several members here at WaveFX Trading use this broker and everyone is happy with them.

Visit IC Markets →
Highly Recommended

Blueberry Markets

STP / ECN Style • MT4, MT5, cTrader & TradingView
Restricted Countries Apply
Not available in: United States, Japan, Canada (Ontario only), Indonesia, New Zealand, Iran, Iraq, North Korea, Russia, and other sanctioned jurisdictions. Canada is accepted outside of Ontario. Australian residents: Served by Blueberry Australia Pty Ltd (ASIC-regulated) with retail leverage capped at 1:30 under ASIC Product Intervention rules. International clients are served by the VFSC-regulated entity with leverage up to 1:500. Check Blueberry Markets' registration page or contact their support to confirm availability in your country.
Min. Deposit
$100
Min. Lot Size
0.01
Spreads From
0.0 pips
Leverage Up To
500:1

What You Can Trade — 2,000+ Instruments

45+
Forex Pairs
200+
Stock CFDs
18
Indices
23
Commodities
60
Crypto CFDs

Account Types

Direct / Raw (Recommended)
Spreads from 0.0 pips
$3.50 per lot per side ($7 round turn)
Best for active traders & scalpers
Standard
No commission
Spreads from 1.0 pips
Good for beginners

Blueberry Markets is an Australian broker founded in Sydney in 2016 by Dean Hyde, a former AxiTrader executive, and has since grown to serve over 50,000 traders worldwide. They are regulated by ASIC (AFSL 535887) for Australian clients, by the VFSC in Vanuatu, and by the FSC in Mauritius for international clients, with client funds held in segregated trust accounts at an AA-rated Australian bank. Their instrument range covers over 2,000 instruments in total — 45+ forex pairs including majors, minors, and exotics, plus 200+ stock CFDs from the ASX, NASDAQ, NYSE, London Stock Exchange, and European exchanges (available on MT5). Commodities include spot metals (gold, silver, platinum, palladium, aluminium, copper, zinc), energies (WTI crude, Brent crude, natural gas), and soft commodities (coffee, cocoa, cotton, sugar). They also offer 60 cryptocurrency CFDs and 18 global indices. Platforms include MT4, MT5, cTrader, TradingView with direct charting-to-trading, and their proprietary Blueberry X platform. Copy trading is available through Blueberry Social and DupliTrade, and a free VPS is offered for active traders (minimum $1,000 deposit and 10 lots/month). All trading styles are welcome including scalping, hedging, and Expert Advisors. No deposit or inactivity fees are charged — withdrawals are also free for most methods, though bank wire transfers may incur a ~$25 intermediary fee. Negative balance protection is included for all clients. Customer support is available 24/7 via live chat, phone, and email — and consistently rates as one of their strongest features. Reviews on Trustpilot are overwhelmingly positive (4.7/5 with over 3,100 reviews as of early 2026), with traders praising fast withdrawals, responsive support, and reliable execution. A solid all-round choice for international traders looking for a well-regulated broker with competitive pricing and a broad instrument range.

Visit Blueberry Markets →
Highly Recommended

Eightcap

STP / ECN Style • MT4, MT5 & TradingView
Restricted Countries Apply
Not available in: United States, Japan, Ukraine, Pakistan, Iran, Iraq, Afghanistan, Algeria, Haiti, Lebanon, Libya, Myanmar, Palestine, Somalia, Syria, Venezuela, Yemen, Zimbabwe, and other OFAC-sanctioned jurisdictions. Canada and most of the EU are accepted. Check Eightcap's registration page or contact their support to confirm availability in your country.
Min. Deposit
$100
Min. Lot Size
0.01
Spreads From
0.0 pips
Leverage Up To
500:1

What You Can Trade — 800+ Instruments

45+
Forex Pairs
600+
Stock CFDs
13
Indices
160+
Crypto CFDs
6
Commodities

Account Types

Raw (Recommended)
Spreads from 0.0 pips
$3.50 per lot per side ($7 round turn)
Best for active traders & scalpers
Standard
No commission
Spreads from 1.0 pips
Great for beginners

Eightcap is a well-established Australian broker founded in Melbourne in 2009 and now regulated by four major authorities — ASIC, FCA (UK), CySEC (EU), and SCB (Bahamas) — making them one of the more thoroughly regulated brokers in the industry. They run an STP/ECN execution model with no dealing desk, offering competitive raw spreads that regularly hit 0.0 pips on major pairs. Their standout feature is the massive crypto CFD selection with over 160 cryptocurrency pairs including crypto-to-crypto crosses and crypto indices — making them the strongest choice here if you trade crypto alongside forex. Platforms include MT4, MT5, and full TradingView integration with direct charting-to-trading capability. Stock CFDs cover over 600 US, UK, Australian, and European equities on the MT5 and TradingView platforms. Commodities include gold, silver, platinum, crude oil (WTI and Brent), and natural gas. No deposit or withdrawal fees are charged, and negative balance protection is included across all accounts. Eightcap also supports hedging, scalping, and algorithmic trading with Expert Advisors on all account types.

Visit Eightcap →

◆ Unregulated Brokers These brokers are not regulated by any major financial authority. They offer high leverage and fewer restrictions, but without the formal protections (segregated fund guarantees, dispute resolution, compensation schemes) that come with regulated brokers. Trade with caution and only with funds you can afford to lose.

US Residents Welcome

PlexyTrade

Offshore / Unregulated • MT4 & MT5
Accepting US Residents
Accepts clients worldwide including the United States. PlexyTrade is registered as Plexy Trade Ltd. in Saint Lucia (Reg. No. 2023-00662) and is not regulated by any major financial authority. This means no formal investor protection, no compensation scheme, and no regulatory dispute resolution. Deposits and withdrawals are cryptocurrency only (USDT, BTC, ETH, LTC, XRP, ADA).
🎁 120% Cash Bonus — Receive up to $24,000 with deposits starting from $200 for all account types. Check PlexyTrade's website for current bonus terms and conditions.
Min. Deposit
$50
Min. Lot Size
0.01
Spreads From
0.0 pips
Leverage Up To
2000:1

What You Can Trade — ~100 Instruments

48
Forex Pairs
48
US Stocks
15
Indices
4
Metals
3
Energies
5
Crypto CFDs

Account Types

Gold Raw (Recommended)
Spreads from 0.0 pips
$2 per lot per side ($4 round turn)
Leverage up to 500:1
Min. deposit $300
Micro
No commission
Variable spreads from 0.7 pips
Leverage up to 2000:1
Min. deposit $50

PlexyTrade is a relatively new offshore broker registered in Saint Lucia, launched in 2024 by a team with roots in the former LQDFX operation. They are one of the few offshore brokers currently accepting US residents. They offer leverage up to 2000:1 on their Micro account (500:1 on Gold Raw and Platinum), which is significantly higher than the 50:1 maximum at US-regulated brokers. Platforms include MT4 and MT5 with full Expert Advisor support, scalping, hedging, and algorithmic trading all permitted. They also offer a Platinum VIP account with a $1 per lot commission, personal account manager, and annual VPS for higher-volume traders. Reviews on Trustpilot are generally positive (4.4/5 with 86 reviews as of early 2026), with many users reporting fast customer support and successful withdrawals — including several large five-figure and six-figure withdrawals. However, being unregulated means there is no formal recourse if problems arise, and there are some reports of profits being questioned under vague policy violations. Deposits and withdrawals are crypto-only (no bank cards or wire transfers), which adds a step for traders not already using crypto. Negative balance protection and segregated accounts are offered but are not independently audited. This is an option for US-based traders who want high leverage and MetaTrader access — but go in with realistic expectations about the trade-offs of an unregulated broker.

Visit PlexyTrade →
Offshore / Unregulated

TradersWay

STP / ECN Style • MT4, MT5 & cTrader
Restricted Countries Apply
Accepts clients worldwide with some exceptions. US and UK clients are not accepted. TradersWay is self-regulated and registered as TW Corp. in the Commonwealth of Dominica, which allows them to offer services without the restrictions imposed by bodies like the CFTC, ASIC, or CySEC. Standard OFAC-sanctioned countries still apply.
Min. Deposit
$10
Min. Lot Size
0.01
Spreads From
0.0 pips
Leverage Up To
1000:1

What You Can Trade — 50+ Instruments

42
Forex Pairs
2
Metals
2
Energies
9
Crypto CFDs
3
Stock Indices

Account Types

ECN (MT4 / MT5 / cTrader)
Spreads from 0.0 pips
Commission: $3 per lot per side
Direct interbank market access
Cashback on monthly volume
MT4.VAR (Standard)
No commission
Variable spreads from 0.7 pips
Swap-free option available
Good for beginners

TradersWay was established in 2011 by a group of financial market professionals and is registered as TW Corp. in the Commonwealth of Dominica. They are self-regulated — meaning they operate outside the oversight of bodies like ASIC, FCA, or CySEC. This is what allows them to offer leverage up to 1000:1 on forex, which regulated brokers simply cannot do. The trade-off is the lack of formal regulatory protection, so this is a trust-based relationship. That said, they do maintain segregated client accounts and have been operating for over 14 years. Note that TradersWay no longer accepts US or UK clients as of 2020. Their ECN accounts on MT4, MT5, and cTrader provide direct interbank access with raw spreads from 0.0 pips and a commission of $3 per lot per side ($6 round turn), plus a cashback rebate program based on monthly volume that rewards active traders. The instrument range is more focused than the regulated brokers above — primarily forex pairs, gold, silver, crude oil, natural gas, a handful of crypto CFDs including Bitcoin and Ethereum, and a few stock indices (Dow Jones, S&P 500, ASX 200) available on MT4. All trading styles are welcome including scalping, hedging, and Expert Advisors. Copy trading is available through cTrader Copy, Myfxbook AutoTrade, and MT4 Trading Signals. No deposit, withdrawal, or inactivity fees. TradersWay appeals to traders in regions where regulated broker access is limited and who are comfortable with the trade-offs of an offshore, unregulated broker in exchange for high leverage and flexible trading conditions.

Visit TradersWay →

⚠ Important Disclaimer: The unregulated brokers listed above are not regulated by any major financial authority. Trading with unregulated brokers carries additional risks including the potential inability to recover funds in the event of a dispute, broker insolvency, or other issues. WaveFX Trading is not responsible for any losses incurred from using any broker listed on this page. Always do your own research, start with small deposits to test withdrawal reliability, and never deposit more than you can afford to lose. If you are a US-based trader, be aware that using unregulated brokers may have tax reporting implications — consult a qualified tax professional.