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4 Best High Leverage Forex Brokers List

By Stefano Treviso, Updated on: Aug 21 2023.

Here’s our selection of the 4 best high leverage forex brokers for the year 2023:

Broker Reason
Blueberry Markets Best in most competitive 0 spreads and low commissions
XM 
Best in no commissions offering
RoboForex Best in most assets offered
TMGM Best in most payment methods

Finding the best high leverage forex broker can be more complicated than what it seems. Nowadays, financial regulators and legislators all over the world have set specific rules on leverage to limit the exposure of retail traders in order to prevent massive losses by inexperienced traders and investors.

This brings as a consequence that most brokers willing to offer high leverage easily, fall under three categories:

  • Unregulated
  • Regulated by a low reputation financial institution
  • Regulated by a combination of high calibre financial regulators and a few low reputation ones

The key to successful trading starts by having a broker you can trust. At TheTradingBible.com we make a lot of emphasis on the importance of financial regulation as doing business with an unregulated broker can cost you all your money and the same goes for those holding only a single license from a low reputation regulator.

The reason for this problem is that most CFD brokers profit through traders’ losses and lose through traders’ winnings. So when they are in jurisdictions with little regulation, they can manipulate the situation as the wish with little to no accountability.

That’s why it’s extremely important to focus on the third category of brokers, the ones that have the off-shore licenses for the purpose of providing higher leverage or acquiring more customers but at the same time they also have the big licenses which means their reputation and core business it’s at stake at all times in the event of any wrongdoing.

All the brokers we’ll mention in this ranking have at least one medium to high tier financial license to ensure you’re as safe as possible.

1. Blueberry Markets - Best in most competitive 0 spreads and low commissions

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74-89% of retail CFD accounts lose money.

Blueberry Markets is a young Australian broker founded in 2015 offering CFDs on all the basic asset classes with competitive low spreads.

Key data
Retail Leverage1:500
Professional LeverageUnavailable
Customisable LeverageYes
Removable LeverageNo
Minimum Deposit$100
Financial RegulatorsASIC, SCB.
Commissions

Depending on account type:

  • Standard account has no commissions
  • Direct Account has a commission of $3.5 per lot

Blueberry Markets holds 2 financial licenses (ASIC and SCB). Despite them being a relatively new brand (operating since 2015) they have managed to position themselves as a loved brand amongst traders thanks to their extreme dedication to personalised customer service.

The GoodThe Bad
  • Allows deposits using cryptocurrency USDT (Tether)
  • Leverage of up to 1:500 (for experienced traders)
  • Extremely competitive spreads
  • All instruments are CFDs, you can't buy underlying assets (real stocks or cryptocurrencies)
  • Their available asset offering is very low with less than 350 tradable assets

Blueberry Markets asset offering is quite limited so it’s definitely made for Forex traders above anything else, especially thanks to their low commissions offering paired with MetaTrader 4 & 5 platforms.

2. XM - Best in no commissions offering

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74.89% of retail CFD accounts lose money.

XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.

Key data
Retail Leverage1:30
Professional Leverage1:500
Customisable LeverageYes
Removable LeverageNo
Minimum Deposit$5
Financial RegulatorsASIC, CySec, ADGM.
Commissions

Yes on Zero accounts ($7 per lot round turn).

XM holds 3 financial licenses from which 2 belong to high tier regulators (ASIC and ADGM). They’ve been operating since 2009 providing no commission trading via MetaTrader 4 & 5 platforms.

The GoodThe Bad
  • Competitive commissions on their Zero account
  • Modest asset offering of 1500+ tradable instruments (similar to competitors in the same range)
  • No proprietary platforms or technology
  • Expensive spreads and trading fees
  • Lack of asset variety when compared to other brokers in the same range

One of the most attractive features of XM is their Micro account which has a contract size of 1 lot = 1,000 currency unit with a minimum deposit of $5. This makes a great option for new traders looking to explore currency trading using MetaTrader 4 & 5 without risking big capital to be able to do so in a real environment.

3. RoboForex - Best in most assets offered

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74-89% of retail CFD accounts lose money.

RoboForex is an international broker established in 2009 which also owns the brand RoboMarkets and specialises on CFD trading over several asset classes.

Key data
Retail Leverage1:2000
Professional LeverageUnavailable
Customisable LeverageYes
Removable LeverageNo
Minimum Deposit$10
Financial RegulatorsIFSC.
Commissions

Yes depending on account type (eg: for ECN accounts there are commissions up to $20).

RoboForex holds only 1 financial license issued by Belize. Despite this being a no-go in terms of our normal judgement, we are aware of the ties between Roboforex and Robomarkets (regulated by CySec) as a single company that has been operating since 2009 with great reputation amongst its users.

The GoodThe Bad
  • Comprehensive asset offering with more than 13,000+ instruments
  • Great platform variety (MT4, MT5, cTrader and their own proprietary platforms)
  • Custom account types with spreads from 0 pips
  • Weak regulatory framework (counting on 1 license from the IFSC)
  • Doesn’t accept clients from the UK, EU and a few other countries

From all the brokers in this ranking, RoboForex is definitely the one lacking the most in regulation, but they compensate for it with their own reputation and their outstanding account offers and 13,000+ financial instruments.

4. TMGM - Best in most payment methods

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74-89% of retail CFD accounts lose money.

TMGM is an Australian broker specialised in financial derivatives known as contract-for-differences (CFDs). Operating since 2013, TMGM provides trading in forex, stocks, indices, cryptocurrencies and commodities.

Key data
Retail Leverage1:500
Professional LeverageUnavailable
Customisable LeverageYes
Removable LeverageYes
Minimum Deposit$100
Financial RegulatorsASIC, FMA, VFSC.
Commissions

Yes, from $3.5 per lot round turn

TMGM holds 3 financial licenses being one of them issued by Australia. They have been operating since 2013 and provide access to 12,000+ instruments.

The GoodThe Bad
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance

One of the biggest selling points of TMGM is their wide variety of payment methods for deposits and withdrawals which can be a key deciding factor for many traders that have issues with this subject in particular.