The Trading Bible Brokers 4 Best High Leverage Forex Brokers List
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
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 Leverage | 1:500 |
| Professional Leverage | Unavailable |
| Customisable Leverage | Yes |
| Removable Leverage | No |
| Minimum Deposit | $100 |
| Financial Regulators | ASIC, SCB. |
| Commissions | Depending on account type:
|
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 Good | The Bad |
|---|---|
|
|
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
XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.
| Key data | |
|---|---|
| Retail Leverage | 1:30 |
| Professional Leverage | 1:500 |
| Customisable Leverage | Yes |
| Removable Leverage | No |
| Minimum Deposit | $5 |
| Financial Regulators | ASIC, 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 Good | The Bad |
|---|---|
|
|
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
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 Leverage | 1:2000 |
| Professional Leverage | Unavailable |
| Customisable Leverage | Yes |
| Removable Leverage | No |
| Minimum Deposit | $10 |
| Financial Regulators | IFSC. |
| 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 Good | The Bad |
|---|---|
|
|
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
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 Leverage | 1:500 |
| Professional Leverage | Unavailable |
| Customisable Leverage | Yes |
| Removable Leverage | Yes |
| Minimum Deposit | $100 |
| Financial Regulators | ASIC, 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 Good | The Bad |
|---|---|
|
|
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.