New Forex Brokers - Are There Any Good New FX Brands?

Needless to say, the forex market is the biggest financial market in the world with over 6$ traded each day. As traders need brokers to trade forex, an opportunity arises. Over the years, there have been thousands of broker sites that enter the market each year. However, not all new brokers that enter the market can offer world-class services to their clients.

Today, we are going to look at some new forex brokers in the market. We want to figure out if there are any good new Forex brands. As usual, we are going to look at four main areas. Just as a refresher, below are our criteria for checking whether a broker offers quality services.

Our Criteria for Checking the Quality of a Broker

  • The regulatory status - This is a top priority for the brokers we will look at on this list. While regulations alone are not enough, licences from world-class organisations show a commitment to following strict financial laws.
  • The spreads and other fees - Anyone investing for a profit will always look to pay the smallest fees possible to maximise their earnings. As such, we will consider the fees that a broker charges to its clients.
  • The availability of trading instruments - The ability to diversify one’s portfolio on a single trading site is always welcomed. We will see if the brokers grant access to multiple global markets.
  • The trading platform - The availability of a world-class trading platform gives traders an edge while trading.

With that, here are some new forex brokers that promise industry-standard offerings to their clients.


Headway is a forex broker that offers traders two of the best trading platforms in the world. On this broker site, traders have access to both MetaTrader 4 and MetaTrader 5. They can use these platforms to trade in a variety of global markets including forex, metals, indices, energies, cryptocurrencies, and stocks. This ability to diversify one’s portfolio is a welcomed feature, especially on a new broker site that just launched in 2023.

Further, the broker claims to have some of the lowest spreads in the market today. Specifically, the spreads are floating from as low as 0.3 pips for forex on its standard account. They go even lower on its cent account floating from 0.1 pips. Additionally, on the Pro account they start from 0.0 pips with a commission of $1.5 per lot.

On regulations, this broker only has licensing and authorisation from the FSCA. While the FSCA is growing in reputation, it would be better to know that the broker has regulations from tier-one regulators like the FCA and the CySEC. Unfortunately, this is not the case. 

Otet Markets

Otet Markets launched its online brokerage services in 2023 and offers two of the best trading platforms. These include cTrader and MetaTrader 5. These platforms give traders access to various markets including forex, metals, indices, energy, stocks, and cryptocurrencies. While this is a welcomed feature, there are some red flags that would turn any professional trader from this trading site. 

For starters, they don’t even reveal the spreads that they charge when trading. They just say that traders will enjoy normal or minimum spreads on their various trading accounts. Unfortunately, traders cannot figure out the fees they may end up paying. Additionally, the broker seems to lie about how long it has been in the market. There is a line that says the company has over 10 years of professional services experience. This is despite the company only launching in 2023.

Worse, this brokerage firm does not have any regulations from reputable organisations. It is regulated by the MWALI International Services Authority, the MISA, and some other obscure regulators. Such regulators have very lax laws that allow brokers to operate however they wish. As such, it is hard to recommend a broker regulated by such organisations.


Maxian launched in 2023 as RedstoneFX and quickly rebranded to Maxian. This quick name change can be a worrying factor for investors when they are trying to pick a broker to invest in. Moreover, this broker barely has any regulations. It is mainly regulated by the FSA of Saint Vincent and the Grenadines. This regulator does not have a good reputation in the market and allows any broker to operate in its jurisdiction.

On the availability of trading instruments, this broker offers some diversity with four different markets available. These markets include forex, metals, energies, and indices. Market diversity allows traders to spread their investments and risks across different assets. The only trading platform available is the world-renowned MetaTrader 4. The spreads go as low as 0.0 pips with a commission of $7. 

Trust Capital TC

While Trust Capital TC only launched in 2022, it holds a licence from one of the most reputable financial regulators in the market. This broker is regulated by the CySEC in Cyprus from where it operates. Even so, always remember that regulations on their own are not enough. Brokers still need to demonstrate that they can deliver quality services within the rule of law.

In terms of market products, traders have access to CFDs on forex, metals, commodities, indices, energies, shares, and cryptocurrencies. The spreads on this broker site are as low as 0.9 pips for major currency pairs. The only trading platform available to use is MT4 which is available on PC, Web, and mobile. For the most part, this broker looks like it has a great offering for traders. Still, it takes a lot of time to build up a reputation and win the trust of investors. 

Are New Forex Brands Good?

While we only presented a few brokers here, there are many others entering the market almost every other day. However, just looking at the few that we presented here, we can see a recurring theme. Evidently, these brokers have a lot of work to do before they win the trust of traders. The regulatory status of a company should be the top priority for any investor to look at. Unfortunately, most new brokers do not come with tier-one regulations. Furthermore, the regulations alone are not enough. New brokers still have to do a lot of work to prove they belong among the best brokers in the world. 

In any case, new forex brokers certainly need to demonstrate they can offer quality services before they win the trust of investors. As such, older brokers usually see the highest number of traders. This is because they have a long history of demonstrating they can deliver world-class services. Below are some older brokers with some of the highest number of clients.


eToro launched its online trading platform in 2007 and now has one of the biggest client bases in the world. This broker has over 30 million customers using it to place online trades. Over the years, eToro has received regulatory licences from some of the most respected financial regulators. These include the FINRA and SEC in the USA, the CySEC in Cyprus, the ASIC in Australia, and the FCA in the UK, among others. These regulations are what make millions of traders consider eToro a tier-one trading platform.

Moreover, this broker offers traders a deep collection of market instruments. These include real stocks, ETFs, and cryptocurrencies alongside CFDs on forex, cryptocurrencies, indices, stocks, commodities, and ETFs. The spreads for trading on this broker site are as low as 1.0 pips for major currency pairs. The only trading platform traders can use here is eToro’s own platform, eToro.

51% of retail investor accounts lose money when trading CFDs with this provider. started offering online trading services in 2001, making it one of the most experienced brokers in the market today. Notably, this broker has regulations from several reputable regulators from multiple jurisdictions. These include the IIROC in Canada, the FCA in the UK, and the ASIC in Australia, among others.

The various markets available for trading on this broker site include CFDs on forex, indices, commodities, cryptocurrencies, stocks, and precious metals. However, for traders in the US, the market instruments are different. The markets available for traders in the US include forex, stocks, gold and silver, and futures and futures options. The trading platforms include MetaTrader 4, MetaTrader 5, and Trader. The Rest API allows investors to link their portfolios to external programs for automated trading and signals.

The spreads available on are diverse depending on the appetite of a broker. There are three main trading accounts. The spreads on the standard account are as low as 0.8 pips for major currency pairs, which is very competitive. They can go even lower on the commission account and the DMA account. The commission account offers spreads from as low as 0.2 pips and a commission of $5 per 100k traded. In contrast, the DMA account features spreads as low as 0.0 pips with a commission depending on the trading volume.

77.7% of retail investor accounts lose money when trading CFDs with this provider.


Pepperstone is not an extremely old broker by any means. This company launched its services in 2010 and holds several licences in various jurisdictions. In particular, this broker has authorization and regulation in the UK by the FCA, in Australia by the ASIC, in Cyprus by the CySEC, and in Germany by the BaFin, among others.

Like other quality broker sites, Pepperstone gives clients access to multiple global markets. These include forex, shares, commodities, currency shares, indices, cryptocurrencies, and ETFs. The trading platforms available to use include MetaTrader 4, MetaTrader 5, cTrader, and TradingView

There are different charges that apply when trading with this broker depending on the account. The standard account charges spreads only that start from as low as 1.0 pips for major currency pairs. The raw account, on the other hand, features spreads as low as 0.0 pips with commissions depending on the trading platform. For traders using MT4 and MT5 platforms, the commission sits at $3.5 per side per lot. Contrarily, cTrader and TradingView users pay a lower commission of $3 per side per lot.

75.5% of retail CFD accounts lose money


AvaTrade offers traders CFDs on forex, commodities, cryptocurrencies, equities, bonds, indices, and ETFs. The fees on this trading platform are some of the lowest in the market today. They start from as low as 0.9 pips for major currency pairs. The trading platforms available to choose from include MetaTrader 4, MetaTrader 5, and AvaTradeGO. Notably, MetaTrader 4 and MetaTrader 5 backtesting capabilities make AvaTrade one of the best brokers for backtesting.

On regulations, the licences this broker possesses suggest that it follows financial laws to the letter. Specifically, this broker has regulatory licences from the CySEC in Cyprus, the ASIC in Australia, the Central Bank of Ireland, and others. These licences have helped boost AvaTrade into one of the biggest brokers in the market today. In fact, it sees a trading volume of more than $70 Billion per month.

76% of retail CFD accounts lose money

Our Closing Remarks on New Forex Brokers

It goes without mentioning that this list only contains a few new forex brokers. We definitely cannot list all the new brokers in the market. Even so, each broker needs some time to win the trust of traders. Any broker that wins that trust if traders in a short time need to offer quality services without any compromise. We have also listed some older brokers that we believe have splendid services and a large client base.

Nonetheless, we insist that every trader should do their research before investing any money. Especially when trading with a new broker. Ensure that the broker you choose has a proven history of following the law and delivering quality services.

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