What are the headline findings?
How much do you need to open an account?
20 of the 21 brokers accept a first deposit of $100 or less, and 8 set no minimum at all. The median minimum deposit is $20. A low minimum makes it easier to test a broker, but it does not change the risk of trading leveraged products.
Which regulators license these brokers?
15 brokers hold an FCA licence (UK), 14 hold an ASIC licence (Australia) and 15 hold a CySEC licence (EU). For UAE residents, 8 hold a DFSA licence in the Dubai International Financial Centre, 1 holds an ADGM FSRA licence in Abu Dhabi, and 1 holds a licence from the federal Capital Market Authority (CMA, which replaced the SCA in January 2026). A broker group holding a licence does not mean every client is onboarded to that entity, so always check the entity named in your client agreement.
Which trading platforms are most common?
MetaTrader is still the default: 19 brokers offer MT4 and 16 offer MT5. 10 connect to TradingView and 5 offer cTrader.
What do raw-spread accounts charge in commission?
Among brokers that publish a per-lot commission on their raw-spread account, the median is $6 per round-turn standard lot. Spread-only accounts carry no commission but build the cost into a wider spread.
How many retail traders lose money with each broker?
16 brokers publish a single broker-specific figure, ranging from 59.57% to 86% (median 74.5%). 5 show only the generic regulatory range rather than their own figure, so they are excluded from these numbers.
Full data table
| Broker | Min. deposit | Key regulators | Retail loss % | BrokrRank score |
|---|---|---|---|---|
| AvaTrade | $100 | CBI, FSCA, ASIC, ADGM – FSRA, JFSA, ISA | 63% | 4.5 |
| Axi | $0 | ASIC, FCA, DFSA | 71.4% | 4.4 |
| BlackBull Markets | $0 | FCA, FMA NZ | Range only | 4.6 |
| Capital.com | $20 | FCA, ASIC | Range only | 4.8 |
| EightCap | $100 | ASIC, FCA | 59.57% | 4.4 |
| Exness | $10 | FCA, CySEC | Range only | 4.6 |
| FP Markets | $100 | ASIC, CySEC | 72.5% | 4.7 |
| Fusion Markets | $0 | ASIC | Range only | 4.3 |
| FxPro | $100 | FCA, Cysec, DFSA | 77% | 4.8 |
| HF Markets | $0 | FCA, DFSA | Range only | 4.7 |
| IC Markets | $200 | ASIC, CySEC | 73.42% | 4.7 |
| IronFX | $50 | FCA, ASIC, CySEC | 70% | 4.2 |
| Markets.com | $100 | FCA, CySEC | 72.3% | 4.1 |
| OANDA | $0 | FCA, ASIC, MAS, JFSA | 75% | 4.7 |
| Plus500 | $100 | FCA, ASIC, MAS, DFSA, CySEC (#250/14) | 81% | 4.3 |
| ThinkMarkets | $0 | ASIC, FCA, DFSA | 76% | 4.7 |
| Tickmill | $100 | FCA, DFSA, CySEC | 74% | 4.5 |
| TMGM | $100 | ASIC, FMA NZ | 80.62% | 4.6 |
| Trade Nation | $0 | FCA, ASIC | 86% | 4.6 |
| XM Group | $5 | ASIC, DFSA, CySEC | 75.99% | 4.2 |
| XTB | $0 | FCA, DFSA, CySEC | 76% | 4.8 |
How was this data collected?
Figures come from each broker's published fee schedules, legal documents and risk disclosures, checked between March 2026 and April 2026. Licences are verified on regulators' public registers. Scores follow our published methodology. The report covers only brokers BrokrRank reviews, so it is not a census of the whole market.
You are welcome to cite or reproduce these figures with a link to this page.