Top 10 Tips when selecting a broker

  1. Always try out a demo of a broker before committing to any live trading.

  2. Low Latency networks. A demo trade in MetaTrader 5 can show you the latency under the trade tab/journal. You should aim for under 500ms. PC to Broker to Market = total latency. The lower this total the better for extreme scalping.

  3. Fees - There should be no hidden fees. Commission brokers are more for long-term traders and spreads are 0. For short-term trading, a variable spread cost is a better option. Always find the lowest spreads possible for the given instrument. This will take a bit of signing up and effort but worth it in the end. OR

    Signup Today and SAVE A TONNE OF TIME using our Broker Spread Cost Comparison Search Engine. Gaining the best broker choice has never been so easy.

  4. Regulated - Never touch unregulated offshore brokers your money is not protected by law in the country you reside in. Unless of course, the broker does have onshore regulation for your given country. You can find this under regulations on the broker's website. READ THEM!!

  5. Fast Response when entering a trade and exiting too.

  6. Datafeed quality. Metamatrix can show you the quality vs say the broker's backtest data. When you compare them you will see how iffy or how good they are at providing reality! This is important to get right. Substandard data in a backtest will look fantastic. But when it's live the noise difference can be huge affecting what a EA can pick up on. This will skew the results and lead you into a false sense of security. Model quality should be 99.9% in MT5. Always test with real ticks. If the data in the backtest + Metamatrix data sniffer vs live data is vastly different do not use it for testing.

  7. The number of instruments and always check the spreads in a demo first off. Compare spreads over time in MT5 which will show you when and where it's best to get the lowest spreads. Finding the lowest spread for a given instrument is the goal here and setting up these values in Metamatrix first to test against other brokers. Once you have a list of costs select the best value broker for the given instrument you want to trade on.

  8. Make sure the broker has at least 200+ instruments to choose from. Generally, the larger brokers have 600+ tradable instruments. This is a clue on how big their server clusters are and are geared up for many orders per day. Their business model is clearly successful for higher investment into their networks and should give you the client the best speeds possible.

  9. Get yourself a decent router and internet service provider (ISP).
    It will make all the difference in your trading. Avoid mobile networks as they tend to add to the latency if you are a scalper.

  10. Always have a broker within your own country. Both for Network speed and legal reasons.

  11. Max Volume specifications for the given symbol. Watch for low volumes and commissions. YOu can find this by right clicking on the symbol list left of the screen. Click specification and locate Min and Max volumes. If it shows 3 lot sizes = 0.01 = or 300 orders max for that given instrument. Ideally 10 lot sizes for the Max specification are prefered. Which would mean 1000 micro orders can be placed on this instrument.

  12. We are after a LOW SPREAD, fixed or variable spread account type. Only use a COMMISSION based account or BROKER if you are a long term trader. We are also after a broker with HIGH lotsize VOLUME INSTRUMENTS ALLOWING FOR BULK SCALPING (1000+ micro orders AND WITH A <100MS OR LOWER LATENCY PC TO MARKET ORDER. All other styles of trading can be used without these extreme and ideal technicals.

  13. Different Styles = Different Account Types.
    Standard Fixed LOW Spread/Variable Spread - Scalper (fast in and out trading) + All other styles
    ECN Account. No scalping but all day trading + long term trading
    Commission fee + ultra-low spread. No scalping + all other styles.

Minimum Requirements for Top 24 Brokers
  1. Fast networks less than <200ms

  2. Fast orders less than <200ms

  3. Fast closedown of orders less than 400 ms

  4. Regulated

  5. Reliability in payment and multiple methods of payment. Such as Wire, Card to Card, bank card, swift payments or IBAN.
  6. 200+ Instruments or dedicated to specific instrument types like exotics, cryptos, forex, stocks, futures, indexes.
  7. If Commission base account it must have very low fee's per 1 lot size.
  8. If a fixed spread or variable account (ideal for grid or scalping) must also have the best and lowest fees per instrument. Always check swaps (over night holding of a trade with hidden costs)
  9. Datafeed must be stable (unknown behaviours not evident from other brokers) or "Technical issues".
  10. Backtest data must be high quality from the broker with a model accuracy of 95%+.
  11. High Volume orders per Instrument which supports all styles of trading including extreme scalping/grid trading.
  12. Operating in many countries.
NOTE: The best brokers have the metamatrix background image just below here and are considered the best brokers to support ALL styles metamatrix offers. All other brokers are fine for low frequency trading styles.

Join the right broker for your trading

Top 24 Brokers of 2022

Low Latency, Low Spreads, Low Fees and many instruments to trade on. The perfect fit for Metamatrix trading software.

Metamatrix will be Available Early 2023

DISCLAIMER!!! : All trading regardless of instrument / symbol comes with a high risk.

Do not believe the hype. It takes work, focus, attention to detail and well managed risk assessment.
Between 74-89 % of retail investor accounts lose money when trading CFDs.
There is a possibility that you may sustain a loss equal to or greater than your entire investment.

Therefore, you should not invest or risk money that you cannot afford to lose.


What We Test For All Brokers.

  1. PC to Server Latency
  2. Server to Market Latency
  3. Total Latency for 1+2 above. This makes all the difference in model quality (what you see in Metamatrix) and earnings. Extreme Slow unresponsive brokers we do not list. 800ms and up latency is to be avoided at all costs. Ideally you want it below 200ms from your pc to the market.
  4. Max orders and how laggy metamatrix/MT5 becomes. Deync test. (This can be limited for some instruments with some brokers with a max lot size at any given time)
  5. Spread costs
  6. Commission or spread-based tests.
  7. Close Down speed in Metamatrix and MT5.
  8. Exit speed tests.
  9. Live Feed data quality vs backtest downloaded data (if data provided for backtesting is 99.9% accuracy vs live data you have a quality broker)
  10. Amount of instruments to test on.
  11. Optional Notes on the signing up process if it's slow or annoying in general.
  12. The top 3 brokers have the Metamatrix background image as an award as the best for our software and in general. These 3 are the best on the list hands down!
  13. Background review checks for fraud, not paying out, dodgy feeds, glitches their end. (so far every broker tested has been fine)

VantageFX - Broker

One of the best brokers in the world. Low spreads, great performance, a high amount of instruments to trade.

  1. Supports MetaTrader 5
  2. Regulated
  3. Location - Australia
  4. ECN Broker

It was established in 2009 and is regulated by the Australian Securities and Investments Commission (ASIC) as well as the Vanuatu Financial Services Commission (VFSC).

It is safe to trade forex and CFDs with Vantage since it is licenced in two tier-1 jurisdictions and one tier-3 country.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 1000+ orders at any given time.

Complete 1118 order close Delay
1 Minute 34 seconds

Trading 5 days a week

For MetaMatrix

Very High limit Scalping (max 1792 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

On my top 3 list for trading on. 32 cryptocurrencies are also supported which is a bonus. Profits of trading were decent even with latency of 150ms. Entries on average are 168ms delay. Which is <18ms from the PC to the broker. Cant complain! An excellent broker worth having in your list.

VT Markets - Broker

Another quality broker from Australia. Low Spreads, excellent service and many great reviews.

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location Australia
  4. ECN Broker

VT Markets was launched in Australia in 2016 as a CFD and FX broker. Vantage Global Prime Pty Ltd, the parent company of VT Markets, is governed by the Australian Securities and Investments Commission, one of the world's most prestigious regulatory bodies (ASIC).

VT Markets is a subsidiary of Vantage Group, which has licences in two tier-1 jurisdictions and one tier-3 country. Full MetaTrader and premium trading tools from Trading Central are available at VT Markets.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max orders 771 on tests

Complete 771 order close Delay
1 minute 17 seconds

Trading 5 days a week

For MetaMatrix

High limit Scalping (max 771 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

On my top 3 list for trading on. 32 cryptocurrencies are supported. A few majors and minor forex currencies. Commodities list is rather small. Profits of trading were decent even with latency of 151ms. Entries on average are 162ms delay. Which is <11ms from the PC to the broker. Overall I would say its crypto list is equal to that of VantageFx. VTmarkets are a subsidiary of VantageFX.

Pepperstone - Broker

A quality broker with low spreads and many instruments to trade from including crypto.

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Australia
  4. ECN Broker

Pepperstone is a wholly-owned subsidiary of Pepperstone Group Limited, an Australian-based firm that was founded in 2010 and has swiftly risen to become one of the largest FX and CFD providers in the world.

FCA (UK) registration no. 684312 authorises Pepperstone Limited.
Registered by ASIC (Australia) as Pepperstone Group Limited, the company has been approved by the Australian Securities and Investments Commission (ASIC) to conduct business.

In accordance with SCB (Bahamas) License SIA-F217, Pepperstone Markets Limited
Licensed by CMA Licence No. 128 - Pepperstone Markets Kenya Limited
"Pepperstone EU Limited" is a registered trademark of CySEC (Cyprus), DFSA and BaFin.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 500 orders

Close 500 orders test - 42.15 seconds

Trading 5 days a week and 6.5 days a week for *cryptocurrencies

For MetaMatrix

Moderate limit Scalping (max 500 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

On my top 3 list for trading on. 19 cryptocurrencies are supported. Has at least 500+ instruments to trade on. If you are into stocks or equities pepperstone is a great choice. Latency is very good and order loads are reasonably fast to exit. Average PC to Broker latency is 150 milliseconds and orders are processed on average at 162 milliseconds = 312 ms total between PC to Broker latency. Verses other brokers you can trade cryptocurrencies over the weekend.

Admiral Markets Broker

Offers 8,425 tradeable symbols: 3,827 CFDs and 4,598 exchange-traded securities (non-CFD).

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Cyprus
  4. ECN Broker

Regulated by ASIC in Australia, CySEC in Cyprus, the Financial Conduct Authority in the United Kingdom (FCA) and the Ministry of Finance in Jordan (by JSC).

340 Admiral Markets staff serve over 48,000 clients, with more than $82 million in clients assets.

Maximum contract size limited to 100 lots on MT5 accounts — compared to 200 on MT4.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 500

500 orders closed within 55 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
MT5 Bulk Operation took 46 seconds.

Trading 5 days a week

For MetaMatrix

Moderate limit Scalping (max 500 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

NOTE* do not use for scalping as the order limit is only moderate.

Overall Performance

Supports a huge variety of tradable instruments. But sadly orders are limited to 500. No cryptos are supported. Average Performance of 378ms from PC to Server/ Order execution.

alpari Broker

FXOpen is a forex broker that offers online trading with MetaTrader 4, MetaTrader 5 and TickTrader. It allows traders to trade currency pairs, precious metals, CFDs, and cryptocurrency pairs electronically.

  1. Supports MetaTrader 4 and 5, TickTrader
  2. Regulated
  3. Location - Perth, Australia; London, United Kingdom; Charlestown, Saint Kitts and Nevis
  4. ECN Broker

Founded in London in 2013, FXOpen Ltd is a financial services company that has been licensed by the Financial Conduct Authority (FCA no. 579202) in the United Kingdom since March 2013.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 368

447 orders closed within 74 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
Within MT5 Bulk close down 12 seconds.

Orders are limited to 150 orders per instrument. Which is not ideal for scalping in large quantities.

Trading 5 days a week

For MetaMatrix

Moderate limit Scalping (max 150 per instrument)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

NOTE* do not use for scalping as the order limit is too low.

Overall Performance

Only 5 crypto's are supported. Average Performance of 233ms from PC to Server/ Order execution. There seems to be a low limit per instrument of 150 orders. Even though the volumes say 1000+ or more. Avoid if you are a scalper. . It does not have the largest list of instruments and the spreads could be lower than 0.3 pips. A very average broker.

LiteFinance Broker Europe

In my top 3 Brokers for traders in Europe. Supports many trading platforms. Their Crypto list of 70 instruments are superb.

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Marshall Islands
  4. ECN Broker

LiteFinance is a well-established broker since 2005. LiteFinance has headquarters in Bulgaria, India, Indonesia, Malaysia, Pakistan, Poland, Russian Federation and Thailand. They are generally well-suited for LiteFinance to provide their Forex/CFD trading services to global clients.

This broker has also been regulated by CySEC 093/08 (only LiteForex (Europe) Limited www.liteforex.eu).

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 1100 orders at any given time. It can max out at 1200 orders but you need a modern CPU of 2021 to maintain it.

Complete close down of all 1108 orders from Metamatrix 15 seconds (beta version)

Bulk Close all orders in MT5 less than 13 seconds.

Trading 5 days a week

For MetaMatrix

Very high limit Scalping (max 1108 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

A superb broker for crypto use and no1 for crypto usage. Average order latency less than 100ms. If crypto is your thing litefinance should be in your top 3 brokers of all time. Scalping is also very good with 800 orders + with no issues.

fpmarkets Broker

Excellent services and low spreads on metatrader 4 or 5.

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Australia
  4. ECN Broker

FP Markets was founded in 2005 and is regulated in one tier-1 and one tier-2 country, making it a safe (average-risk) broker for trading forex and CFDs.

FP Markets excels as a low-cost forex and CFDs broker — as long as you trade on the MetaTrader platform. Although the Iress platform package includes well over 8,000 tradeable symbols, it is primarily a share trading platform — and hence a far more expensive choice.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 752 orders at any given time. It can go to 868 orders but you need a modern CPU of 2021 to handle updates.

1008 orders closed within 123 seconds in metamatrix.
Within MT5 Bulk close down 42 seconds.

Trading 5 days a week

For MetaMatrix

Low limit Scalping (max 1008 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

A large selection of crypto, forex and stocks. Performance to the server was on average 104ms to a market order. Trade results with Metamatrix were 1800 USD in 2 days using a 50k account. No performance issues at all. Order exits could be improved with a faster lower latency connection. Otherwise a solid broker to work with.

Fusion Markets Broker

90 forex instruments, All metals, 100 equities, cryptocurrencies, major equity indices, energies, Trade Crude Oil, Brent Oil, and Natural Gas.

  1. Supports MetaTrader 4 and 5, MT4 Web, Fusion. MT4 Mobile.
  2. Regulated
  3. Location - Perth, Australia; London, United Kingdom; Charlestown, Saint Kitts and Nevis
  4. ECN Broker

Fusion Markets is a trade name of Gleneagle Asset Management Limited (GAML), which is licensed to provide financial services in Australia under the Australian Financial Services Licence (AFSL) number 226199.


Listed on the Australian Securities and Investment Commission, Gleaneagle Asset Management Limited is a registered investment adviser (ASIC).

Fusion Markets is a trading name of Gleneagle Securities Pty Limited, which is a registered Vanuatu company (Company Number 40256) and is regulated by the Vanuatu Financial Services Commission (VFSC).

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 200 orders at any given time.

200 orders closed within 24 seconds in metamatrix. *Beta Release will be equal to Metatrader 5.
Within MT5 Bulk close down 4 seconds.

Trading 5 days a week

For MetaMatrix

DO NOT USE FOR SCALPING!!!!

Very Low limit Scalping (max 200 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

A large selection of crypto (19), forex and stocks. If you are into exotic instruments this broker supports the most compared to other brokers. Performance to the server was on average 124ms to a market order. Trade results with Metamatrix were 368 USD in 1 day using a 100k account. No performance issues at all. Low orders would limit metamatrix and a certain style we use but otherwise a solid broker to work with.

OctaFx Broker

OctaFX offers 50 tradeable instruments. OctaFX offers CFD trading on Forex, Indices, Metals, and Cryptocurrencies via the MetaTrader suite of trading platforms as well as their proprietary OctaFX Trading Application.

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - St. Vincent and the Grenadines
  4. ECN Broker

Established in 2011, OctaFX is only regulated in one tier-2 jurisdiction (Cyprus), which makes it a high-risk broker for forex and contract for difference (CFD) trading.

Its extensive network of servers and data centers, which are spread throughout Europe and Asia, ensures low latency and a stable connection for all of its clients.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 500 orders at any given time.

500 orders closed within 22 seconds in metamatrix.
Within MT5 Bulk close down 14 seconds.

Trading 5 days a week

For MetaMatrix

Low limit Scalping (max 500 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

A massive selection of crypto (the biggest we have seen from one broker) as well as forex instruments to trade on. Performance to the server was on average 90ms to a market order. Trade results with Metamatrix were 3251 USD in 3 days using a 50k account. No performance issues or failed to shut down orders.

Avatrade Broker

AvaTrade is a broker that offers a wide variety of trading accounts and platforms that allow you to trade on more than 1,250 different instruments.

  1. Supports MetaTrader 4 and 5, WebTrading
  2. Regulated
  3. Location - Dublin, Ireland.
  4. ECN Broker

Avatrade has obtained licences and is regulated in a number of jurisdictions, giving its customers the assurance that they are dealing with a reputable and well-established broker in their chosen market.

AvaTrade is subject to strong compliance regulations, which include strict guidelines for how it handles client assets, the security of customer cash, and the filing of regular financial reports.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 500 orders at any given time.

500 orders closed within 132 seconds in metamatrix.
Within MT5 Bulk close down 42 seconds.

Trading 5 days a week

For MetaMatrix

Moderate limit Scalping (max 500 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

A large selection of crypto (19), forex, commodities, and stocks. Performance to the server was on average 459ms to a market order. We did have around 25% of orders that never made it due to the poor latency. This latency is from Turkey. Your location might have lower latency with fewer issues. Trade results with Metamatrix were 1078 dollars using a 10k account. No glitches or bug issues at all. Order entry and exit latencies could be improved with a faster lower latency connection their end.

Roboforex Broker Europe

A quality broker for trading with. Offers a great selection of instruments to choose from.

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Cyprus (europe)
  4. ECN Broker

The RoboForex Group, which has been recognised by the most respected experts in the financial market and has been in operation since 2009 through two world-presented entities: RoboForex, which provides service throughout the world, and RoboMarkets Ltd, which is based in Cyprus and provides service to countries in the EU and the EEA countries.

RoboMarkets Ltd - authorized by CySEC (Cyprus) registration no. 191/13

RoboForex Ltd - authorized by IFSC (Belize) registration no. IFSC/60/271/TS/17.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 950 orders at any given time.

950 orders closed within 104 seconds in metamatrix *beta.
Within MT5 Bulk close down 16 seconds.

Trading 5 days a week

For MetaMatrix

Moderate limit Scalping (max 950 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Moderate performance in the demo in handling fast executions. Half of the orders out of 2000 did not make it in time. The broker is fine for slow trading except for fast scalping. Execution time was on average 63ms from the PC to the Server. But failed too many times on send through to the market. Not a scalpers broker. Otherwise, it's a fine broker for all other styles.

Blueberry Markets

Over 40 forex currency pairs, as well as over 215 CFDs on market indexes, futures, gold, silver, oil and bitcoin/ethereum are available

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Australia
  4. ECN Broker

Blueberry Markets is an Australian forex and CFD broker that was established in 2016 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Victoria Securities and Futures Commission (Vanauatu).

Automated trading regardless of style is permitted. All EA's and MetaMatrix Robots.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 1153 orders at any given time.

1153 orders closed within 114 seconds in metamatrix *beta. *will be the same speed as mt5 in V1 release.
Within MT5 Bulk close down 39 seconds.

Trading 5 days a week (7 for crypto)

For MetaMatrix

Very High limit Scalping (max 1153 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Moderate performance in the demo in handling fast executions. Half of the orders out of 2000 mostly requotes. The broker is fine for slow trading except for fast scalping. Execution time was on average 393ms from the PC to the Server. But failed too many times on send through to the market. Not a scalpers broker. Otherwise, it's a fine broker for all other styles.

Tickmill Broker

Supports 64 currency pairs, CFDs, precious metals, and related commodities.

  1. Supports MetaTrader 4 and 5, Webtrader
  2. Regulated
  3. Location - London, Seychelles, East Africa
  4. ECN Broker

In the Seychelles, Tickmill is a trading name of Tickmill Ltd, a part of the Tickmill Group, which is regulated by the Seychelles Financial Services Authority. Tickmill is a registered trademark of Tickmill Ltd. (FSA).

Seychelles Financial Services Authority (FSA) Licence number: SD008

Financial Conduct Authority (FCA) FCA Register Number: 717270

Cyprus Securities and Exchange Commission (CySEC)
Licence number: 278/15
Labuan Financial Services Authority (Labuan FSA)
Licence number: MB/18/0028

Financial Sector Conduct Authority (FSCA)
Licence number: FSP 49464

In addition to a demonstrated track record of good financial achievements and consistent growth, Tickmill has earned a deserved reputation as a trusted market leader and innovator.


Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

200 orders closed within 15 seconds in metamatrix *beta.
Within MT5 Bulk close down 6 seconds.

Trading 5 days a week

For MetaMatrix

DO NOT USE FOR SCALPING!!!!

Very Low limit Scalping (max 200 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

200 order limit is off-putting for bulk scalpers. Latency performance is good at 91ms. Supports a large set of instruments and many exotic pairs as well. Only 8 cryptos are supported.

XM Broker

MetaTrader is the only trading platform offered by XM Group, which also provides an excellent collection of high-quality educational content and market analysis. Offers 1,230 CFDs, including 57 forex pairs.

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Cyprus (europe)
  4. ECN Broker

XM Global Limited is licensed by the Forest Stewardship Council (FSC) under license number 000261/158.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 200 orders at any given time.

200 orders closed within 16 seconds in metamatrix *beta.
Within MT5 Bulk close down 6 seconds.

Trading 5 days a week

For MetaMatrix

DO NOT USE FOR SCALPING!!!!

Very Low limit Scalping (max 200 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

200 order limit is off-putting for scalpers. Latency performance below average 480ms. Its real saving grace is the large selection of CFDs to choose from. XM brokers are more for long-term traders, than for fast scalping.

Teletrade Broker

TeleTrade offers trading on over 200 instruments, giving clients a wide range of options with tight spreads and quick execution.

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Financial institution in Nicosia, Cyprus
  4. ECN Broker

Since 1994, TeleTrade has provided millions of traders all around the world with access to the financial markets through its online trading platform.

CySEC Teletrade-DJ International Consulting Ltd is a Cyprus Investment Firm (CIF) with registration number HE272810 and a CySEC license number 158/11. The Cyprus Securities and Exchange Commission regulates the company (CySec).

MiFID (Directive 2004/39/EC) was recently revised, and MiFID II (Directive 2014/65/EC) went into force in January 2018. The Cyprus Securities and Exchange Commission implemented MiDIF II under Law 87(I)/2017 and associated directions.

EEA Entries

TeleTrade is authorized by CySEC to provide MiFID services in all EU member states (excluding Belgium).


*Not FCA Regulated

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max 800 orders at any given time.

800 orders closed within 150 seconds in metamatrix *beta.
Within MT5 Bulk close down 48 seconds.

Trading 5 days a week

For MetaMatrix

DO NOT USE FOR SCALPING!!!!

Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Watch for commissions on trades. They can be a little over the top for certain instruments like BTCUSD. Moderate, Long term trades or higher lot size trades yes. But for the beginner or people with low capital avoid using. There are better brokers for beginner traders. The signup process was also annoying with constant fails on verification whereas other brokers had no issues with the same credentials. Spreads were also poor compared to other brokers. Market execution average was 430ms.

DO NOT USE THIS BROKER FOR SCALPING!

FBS markets Broker

FBS is a global broker with offices in over 150 countries. FBS is the favored Forex company of 23 000 000 traders and 410 000 partners.

  1. MetaTrader 4, MetaTrader 5, MetaTrader Mobile, Online FBS MT4/5 WebTrader, MultiTerminal, FBS Trader, Mobile Trading
  2. Regulated
  3. Location - Belmopan, Belize
  4. ECN Broker

The Cyprus Securities and Exchange Commission regulates FBS under license number 331/17.

Licenses include IFSC, CySEC, ASIC and FSCA

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 1283

1283 orders closed within 216 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
Within MT5 Bulk close down 16 seconds.

Trading 5 days a week

For MetaMatrix

Very High limit Scalping (max 1283 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Spreads are not the best for crypto. Requires a much wider take profit to justify an order. Other brokers are 25% cheaper in spread per order. Average Performance of 173ms from PC to Server/ Order execution.

IC Markets Broker

Forex CFD provider IC Markets is one of the most well-known in the industry, providing trading solutions for both experienced day traders and scalpers, as well as traders who are new to the forex market.

  1. Supports MetaTrader 4 and 5, CTrader
  2. Regulated
  3. Location Sydney, Australia
  4. ECN Broker

Trading platforms that are cutting edge, low latency connectivity, and higher liquidity are all available to clients of IC Markets.

The Australian Securities and Investments Commission (ASIC) has granted IC Markets authorisation and regulation (ASIC).

IC Markets are regulated by the Financial Conduct Authority, which is considered to be one of the world's most strict financial regulatory authorities in the financial services industry.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 195

195 orders closed within 115 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
Within MT5 Bulk close down 8 seconds.

Trading 5 days a week

For MetaMatrix

Very low limit Scalping (max 195 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Very low order amounts which is pretty low at 195. Spreads are resonable even for BTCUSD. Average Performance of 471ms from PC to Server/ Order execution.

Freshforex Broker

More than 211 different trading instruments are available, including 17 cryptocurrencies, stocks, indices, and commodities.

  1. Supports MetaTrader 4 and 5, Web Terminal
  2. Regulated
  3. Location - Saint Vincent and the Grenadines
  4. ECN Broker

FreshForex is a regulated brokerage firm. Therefore, the Commission for the Regulation of Financial Market Relations (KROUFR) and The Centre for the Regulation of OTC Financial Instruments and Technologies (CRFIN) regulatory organizations regulate FreshForex and conduct checks are conducted on their behalf by these regulatory bodies.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 501

501 orders closed within 252 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
Within MT5 Bulk close down 12 seconds but was interupted and had to retry adding another 7 seconds.

Trading 5 days a week

For MetaMatrix

Very High limit Scalping (max 501 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Spreads for crypto are moderate but not the the lowest. Average Performance of 463ms from PC to Server/ Order execution.

Weltrade Secure Broker

Weltrade is a broker that operates on a global scale. Established in 2006, it has offices in 18 countries and serves over 100,000 dealers globally. It has been in business since 2006.

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Saint Vincent, Grenadines
  4. ECN Broker

Weltrade was named "Best Foreign Broker" at the 2019 Asia Forex Expo, and it was also named "Broker with the Best Client Support" in 2017. The company previously got the "Best Foreign Broker" award in 2017. In 2015, the broker Weltrade was nominated for the award for "Best Affiliate Program."

Regulated by: IFSC (Belize) license №IFSC/60/350/TS/15-16


Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 945

945 orders closed within 237 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
Within MT5 Bulk close down 16 seconds. Above 1300 orders cancelling in mass bulk did not work in MT5 (bug).

Trading 5 days a week

For MetaMatrix

Very High limit Scalping (max 945 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Weltrade does not support any crypto instruments at all. It is mostly forex, commodities, and stocks. Average Performance of 426ms from PC to Server/ Order execution.

AMarkets Broker

Providing brokerage services in Latin America, Asia and CIS, AMarkets focuses on offering high-quality services and comprehensive support to its clients and partners.

  1. Supports MetaTrader 4 and 5, Amarkets APP
  2. Regulated
  3. Location - Saint Vincent, Grenadines
  4. ECN Broker

AMarkets is a member of The Financial Commission, a recognized independent mediator in the financial services industry that oversees a broker's transparency and integrity, as well as a Compensation Fund that can compensate traders up to €20,000 per claim.

АMarkets Ltd. Registered by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines under number 22567 IBC 2015

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 847 (1150 with 2021 hardware)

1150 orders closed within 115 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
Within MT5 Bulk close down 16 seconds. Above 1100 orders cancelling in bulk had to be executed 3 times.

Trading 5 days stocks/forex/commodities and 7 days a week for crypto.

For MetaMatrix

Very High limit Scalping (max 945 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Average Performance of 92ms from PC to Server/ Order execution. Can trade crypto 7 days per week. 15 of the main crypto coins are supported. Watch for spreads and compare against other brokers. NOTE: there seems to be a low volume limit per instrument. Not the ideal specifications a scalper needs. Right click a symbol in market watch and click specifications. You will see the max volume size or limit. Max volume size is 200 orders x 0.01 for BTCUSD.

FXopen Broker

FXOpen is a forex broker that offers online trading with MetaTrader 4, MetaTrader 5 and TickTrader. It allows traders to trade currency pairs, precious metals, CFDs, and cryptocurrency pairs electronically.

  1. Supports MetaTrader 4 and 5, TickTrader
  2. Regulated
  3. Location - Perth, Australia; London, United Kingdom; Charlestown, Saint Kitts and Nevis
  4. ECN Broker

Founded in London in 2013, FXOpen Ltd is a financial services company that has been licensed by the Financial Conduct Authority (FCA no. 579202) in the United Kingdom since March 2013.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 145

145 orders closed within 20 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
Within MT5 Bulk close down 5 seconds.

Trading 5 days stocks/forex/commodities and 7 days a week for crypto.

For MetaMatrix

Extremely low Limit orders (max 145 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)


NOTE* do not use for scalping as the commissions are to high and order limit is very very low.

Overall Performance

Average Performance of 162ms from PC to Server/ Order execution. Can trade crypto 7 days per week. High Commission fees 1.50 for 0.01 volume on BTCUSD (RIP OFF) for crypto and is not ideal for scaling orders. Compare against other brokers. NOTE: there is a very low volume limit for certain crypto instruments. Not the ideal specifications a scalper needs. Right click a symbol in market watch and click specifications in MT5. You will see the max volume size or limit. Max volume size is 1 lot size for BTCUSD.

Gerchick and Co Broker

72 Forex currency pairs, Trading is available 24/5, 1:100 leverage, 281 CFDs on stocks of the top companies, 11 CFDs on Crypto currencies,14 trading indexes, 3 CFDs on raw materials, 7 CFDs on metal

  1. Supports MetaTrader 4 and 5
  2. Regulated
  3. Location - Port Vila, Vanuatu
  4. ECN Broker

On July 27, 2015, Ivan Kroshnyi and Alexander Gerchik launched their own brokerage company, which has since grown into a fruit of their dedication and hard work.

The VanuatuVFSC regulatory with license number: 40512 is an offshore regulatory, please be aware of the risk!

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 945

945 orders closed within 237 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
Within MT5 Bulk close down 16 seconds. Above 1300 orders cancelling in mass bulk did not work in MT5 (bug).

Trading 5 days a week

For MetaMatrix

Very High limit Scalping (max 945 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Only 12 crypto's are supported. Average Performance of 426ms from PC to Server/ Order execution.

Worldforex Broker

For more than 10 years of providing financial services of a high quality to our clients, we have established a company with a spotless reputation in the sphere of the provided services. They offer crypto accounts and general trading accounts. Major forex instruments, and around 50 stocks to trade. A few commodities are also available

  1. Supports MetaTrader 4 and 5, Wforex Webtraider
  2. Regulated
  3. Location - Saint Vincent, Grenadines
  4. ECN Broker

The Financial Commission, an international financial organization, is a legitimate participant of World Forex, which is a legitimate participant of The Financial Commission.

Participants in this program benefit from the Compensation Fund, which provides up to €20,000 in compensation for each complaint. In addition, the involvement of highly trained professionals from The Financial Commission through membership in the organization speeds up mutual agreement with a client (within 7 days).

The Financial Commission's principal goal is to resolve trader-broker disputes in an efficient and impartial manner.

The service VerifyMyTrade, which evaluates the quality of order execution and ensures the transparency of Company deals, also helps World Forex do audits and recertifications on a monthly basis. Quality of the companies that earned the certificate is at least as good as the standard execution in their industry.

Technical limits

Network Latency * (Turkey)
Results will vary Depending on country

Max Orders 1232

1232 desync issue orders closed within 57 seconds in metamatrix *beta. *new update will be the same as MT5 performance.
Within MT5 Bulk close down 16 seconds. Max this broker can handle is 1250 orders without desync issues or mt5 struggling on a intel 5960. Modern cpu should have no issues.

NOTE: We managed to hit the top end of our hardware with this broker. This extreme works in a more quiet market or nighttime sessions. Which is pretty impressive nonetheless. Very few brokers for MT5 have the latest hardware to handle this amount of orders per-user. It took MT5 17 seconds to close all orders down.

Trading 5 days a week (7 Days for Crypto)

For MetaMatrix

Very High limit Scalping (max 1232 orders)
Swing Trading
Grid Trading
Intercept trading
Intraday
Day Trading
Long term Trading (buy and hold)

Overall Performance

Only 16 crypto's are supported. Average Performance of 81ms from PC to Server/ Order execution. COmission accounts they have are $1.51 commission for BTCUSD and $0.91 for ETHUSD. If you are into scalping make you use a fixed spread or variable spread account. If the spreads are very low like 0.03 USD per 0.01 lot size you are good to go.