Forex Brokers

To help you narrow down your search, here's a list of some of the leading online forex brokers:

Alpari

Location: Russia / UK / US
Online Since: 1998
Account Types: Micro / Classic
Minimum Account Size: $200
Free Demo Account: Yes (unlimited)
Spreads: 1.8+
Charts / Trading Platform: MetaTrader 4

(Note: Alpari has three different websites (UK, US and Russia) so account features may vary).

CMS Forex

Location: US
Online Since: 1999
Account Types: Universal (trade mini and standard lots from same account)
Minimum Account Size: $200
Free Demo Account: Yes
Spreads: 2 pips for EUR/USD and USD/JPY pairs
Charts / Trading Platform: VT Trader 2.0

dbFX

Location: Germany
Online Since: 2006
Account Types: Standard
Minimum Account Size: $5000
Free Demo Account: Yes
Spreads: 2-4 pips for major currency pairs
Charts / Trading Platform: dbFX Trading Platform

Dukascopy

Location: Switzerland
Online Since: 2004
Account Types: Live / Managed
Minimum Account Size: $50,000
Free Demo Account: Yes (14 days)
Spreads: 0-2 pips for major currency pairs
Charts / Trading Platform: Java / JForex / Web

Forex.com (part of GAIN Capital)

Location: US
Online Since: 1998
Account Types: Mini / Standard
Minimum Account Size: $250
Free Demo Account: Yes (30 days)
Spreads: 1.1+ for major currency pairs
Charts / Trading Platform: MetaTrader 4

FXCM

Location: US
Online Since: 1999
Account Types: Mini / Standard
Minimum Account Size: $2000
Free Demo Account: Yes
Spreads: Typical spreads between 2 and 4 pips for major currency pairs
Charts / Trading Platform: MetaTrader 4

(Note: Separate Micro account also available).

FXDD

Location: US
Online Since: 2002
Account Types: Mini / Standard
Minimum Account Size: $250
Free Demo Account: Yes (90 days)
Spreads: 2 pips for EUR/USD pair
Charts / Trading Platform: MetaTrader 4 / MTXtreme / FXDD Trader / FXDD Auto / Power Trader

FXPro

Location: Cyprus
Online Since: 2008
Account Types: Standard / Premium
Minimum Account Size: $500
Free Demo Account: Yes (unlimited)
Spreads: 0.5+ for major currency pairs
Charts / Trading Platform: MetaTrader 4

GFT Forex

Location: US / Worldwide
Online Since: 2001
Account Types: Mini / Standard / Silver / Gold / Platinum
Minimum Account Size: $250
Free Demo Account: Yes
Spreads: 3-4 pips for major currency pairs
Charts / Trading Platform: DealBook 360

Interactive Brokers

Location: US
Online Since: 1998
Account Types: Universal
Minimum Account Size: $3000+ (depending on the type of account)
Free Demo Account: No
Spreads: 1 pip for EUR/USD pair
Charts / Trading Platform: Trader Workstation

Interbank FX

Location: US
Online Since: 2001
Account Types: Mini / Standard
Minimum Account Size: No minimum
Free Demo Account: Yes (30 days)
Spreads: 2 pips for EUR/USD pair
Charts / Trading Platform: MetaTrader 4

MB Trading

Location: US
Online Since: 2002
Account Types: Standard
Minimum Account Size: $400
Free Demo Account: Yes
Spreads: 0.1-1 pip for major currency pairs
Charts / Trading Platform: MetaTrader 4

MIG Investments

Location: Switzerland
Online Since: 2003
Account Types: Standard / Professional / Institutional
Minimum Account Size: $5000
Free Demo Account: Yes (90 days)
Spreads: 2-3 pips for major currency pairs (less with institutional account)
Charts / Trading Platform: MetaTrader 4

Oanda

Location: Canada
Online Since: 2001
Account Types: Standard
Minimum Account Size: No minimum
Free Demo Account: Yes (unlimited)
Spreads: 0.9 for EUR/USD pair
Charts / Trading Platform: FXTrade platform

ODL Securities

Location: UK
Online Since: 2004
Account Types: Standard (can trade from $1 per point upwards)
Minimum Account Size: $2000
Free Demo Account: Yes
Spreads: 2-3 pips for major currency pairs
Charts / Trading Platform: MetaTrader 4 (and other platforms for professional traders)

Saxo Bank

Location: Denmark
Online Since: 1999
Account Types: Saxo MiniTrader / Saxo Trader
Minimum Account Size: $2000
Free Demo Account: Yes (20 days)
Spreads: 2-3 pips for major currency pairs
Charts / Trading Platform: SaxoTrader