Best Brokers For Professional Traders

Written By

James Barra

Written By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Updated

Mar 22, 2024

Professional traders can qualify for more attractive account conditions than their retail counterparts, in return for a larger deposit and fewer safeguards. To compile a list of the best brokers for professional traders, our experts considered:

Best Brokers For Professional Traders 2024

These are the 5 best professional trading accounts based on our findings:

1. AvaTrade
2. OANDA US
3. Pepperstone
4. XM
5. IC Markets

Best Brokers For Professional Traders Comparison

Best Brokers For Professional Traders Comparison

Broker	Minimum Deposit	Leverage	Platforms	Automated Trading	Fast Execution	Instruments	Regulators	Visit
	-	1:30 (Retail) 1:400 (Pro)	WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade	Expert Advisors (EAs) on MetaTrader	✔	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting	ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM	Visit
	$0	1:50	OANDA Trade, MT4, TradingView, AutoChartist	Expert Advisors (EAs) on MetaTrader	✔	Forex, Crypto	NFA, CFTC	Visit
	$0	1:30 (Retail), 1:500 (Pro)	MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade	Expert Advisors (EAs) on MetaTrader	✔	CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting	FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB	Visit
	$5	-	MT4, MT5	Expert Advisors (EAs) on MetaTrader	✔	Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures	ASIC, CySEC, DFSA, FSC, FSCA	Visit
	$200	1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)	MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade	Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade	✔	CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto	ASIC, CySEC, FSA	Visit
	$100	1:200 (Retail), 1:500 (Pro)	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral	Expert Advisors (EAs) on MetaTrader	✔	CFDs, Forex, Stocks, Cryptos, Futures, Options, Commodities	NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA	Visit
	$0	1:30 (Retail), 1:250 (Pro)	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral	Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime	✔	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA	Visit
	$100	1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)	FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade	Expert Advisors (EAs) on MetaTrader	✘	CFDs, Forex, Stocks, Indices, Commodities, Futures	FCA, CySEC, FSCA, SCB, FSC	Visit
	$0	1:30 (Retail), 1:500 (Pro)	Web, MT4	Expert Advisors (EAs) on MetaTrader	✔	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting	FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA	Visit
	$0	1:500	MT4, MT5, cTrader, TradingView, DupliTrade	Expert Advisors (EAs) on MetaTrader, cBots on cTrader	✔	CFDs, Forex, Stocks, Indices, Commodities, Crypto	ASIC, VFSC, FSA	Visit
	$250	1:30 (Retail), 1:400 (Professional)	WebTrader, MT4, TradingCentral	Expert Advisors (EAs) on MetaTrader	✘	CFDs, Forex, Indices, Stocks, Commodities, Cryptocurrencies	CySEC	Visit
	-	1:30	TradingView	-	✘	Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs	DFSA, MAS, FCA, SFC	Visit

#1 - AvaTrade

Visit

Review

Why We Chose AvaTrade

The AvaTrade professional account offers high leverage up to 1:400 on forex and 1:25 on cryptocurrencies. Over 1250 instruments are available alongside lower fixed spreads of 0.6 pips on forex. Traders get a choice of proprietary and third-party software and can get started with an accessible deposit of $100.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
• Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (Retail) 1:400 (Pro)

About AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

Pros

• There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
• Day traders can access stable spreads and zero commissions with no hidden fees
• Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools

Cons

• There is no ECN account with raw spreads
• There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners

Visit AvaTrade

#2 - OANDA US

Visit

Review

Why We Chose OANDA US

OANDA US offers a popular professional trading account with oversight from the NFA. Clients can get lower fees with up to $15 per million rebates or spreads from 0.1 pips with a $3.50 commission per side. A free VPS is also available to pro traders.

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

- DayTrading Review Team

• Instruments: Forex, Crypto
• Regulator: NFA, CFTC
• Platforms: OANDA Trade, MT4, TradingView, AutoChartist
• Minimum Deposit: $0
• Minimum Trade: 0.01 Lots
• Leverage: 1:50

About OANDA US

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.

Pros

• The broker offers a transparent pricing structure with no hidden charges
• There's a strong selection of 68 currency pairs for dedicated short-term forex traders
• The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView

Cons

• The range of day trading markets is limited to forex and cryptos only
• There's only a small range of payment methods available, with no e-wallets supported
• It's a shame that customer support is not available on weekends

Visit OANDA US

#3 - Pepperstone

Visit

Review

Why We Chose Pepperstone

Pepperstone offers a top-rated professional trading account with leverage up to 1:500 and over 1200 CFDs. The Active Trader Program offers competitive cash rebates up to 15% while the Razor account provides spreads from 0.0 pips with a tight commission of $3.50 per side. Fast execution speeds of around 30ms will also appeal to high-volume day traders.

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

- DayTrading Review Team

• Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
• Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
• Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
• Minimum Deposit: $0
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (Retail), 1:500 (Pro)

About Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

Pros

• Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
• Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
• Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.

Cons

• Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
• Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
• Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.

Visit Pepperstone

#4 - XM

Visit

Review

Why We Chose XM

The XM professional account will appeal to traders familiar with MetaTrader 4 and MetaTrader 5. More than 1000 assets are available alongside spreads from 0.0 pips and a low commission. A free VPS is also provided if you maintain an account balance of $5000 and trade 5 lots per month.

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

- DayTrading Review Team

• Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
• Regulator: ASIC, CySEC, DFSA, FSC, FSCA
• Platforms: MT4, MT5
• Minimum Deposit: $5
• Minimum Trade: 0.01 Lots

About XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

Pros

• 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
• The broker offers premium research including market sentiment, fundamental insights and strategy builders
• XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights

Cons

• PayPal deposits are not supported
• There is weak regulatory oversight through the global entity
• There's $5 inactivity fee after only 3 months, though this won't affect active traders

Visit XM

#5 - IC Markets

Visit

Review

Why We Chose IC Markets

IC Markets is a true ECN broker with an excellent professional trading account. Over 2000 instruments are offered, including 60 forex pairs. Ultra-tight spreads are available with a $3.50 commission, though cTrader offers a $3 commission. Pro clients also retain negative balance protection. On the downside, there is no rebate program.

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

- DayTrading Review Team

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
• Regulator: ASIC, CySEC, FSA
• Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
• Minimum Deposit: $200
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)

About IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

Pros

• IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
• With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
• As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.

Cons

• Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
• The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
• There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.

Visit IC Markets

Comparing Brokers With Pro Accounts

Based on our tests, the best professional trading accounts offer low deposits, high leverage, tight spreads, fee rebates, advanced tools, and priority support.

Our team unpack these comparison factors and our methodology in more detail below.

Minimum Deposit

While professional traders tend to have more capital than retail investors, a lower minimum deposit still makes a broker more accessible.

Our team compare the initial deposit requirements at different pro trading accounts to find the brands with the most straightforward funding requirements.

Leverage

Brokers tend to offer higher leverage in their professional trading accounts.

While in the EU, UK and Australia, leverage is generally capped at 1:30 for retail traders, pro traders can access rates in excess of 1:400.

Fees

Fees are particularly important for professional traders who often employ highly leveraged strategies with very tight margins.

We consider brokers with low, raw spreads as the most suitable for professional traders. As well as the tightest spreads, we also assess the round-turn commission, and any additional fees such as charges for account maintenance, withdrawals, and third-party tools.

Rebates

The level of rebates and volume requirements can have a significant impact on the bottom line of a high-volume trader.

As a result, we evaluate the discounts available in professional trading accounts.

Support

The best brokers for professional traders offer dedicated account managers with priority support and shorter queue times.

This is because any downtime could effectively stop you from doing your day job, and an issue with your platform or funding method could scupper a carefully planned position or lead to heightened losses.

Tools

Professional traders can benefit from specialized tools to help execute strategies.

These can include Virtual Private Servers (VPS), which facilitate 24-hour access to financial markets with reduced latency. These are especially useful for algorithmic trading, and are frequently used in conjunction with MetaTrader’s Expert Advisors.

How To Qualify For A Professional Trading Account

The key difference between professional and retail trading accounts is that the former are normally only available to traders who meet certain criteria, whereas the latter are available to most adults who want to trade online.

The criteria to become a professional trader varies between regulators and brokers, but usually includes:

• Demonstrating you have experience with relevant derivative products for at least one year
• Evidencing that you have completed suitably sized trades at least 10 times per quarter over the last year
• Holding a significant financial portfolio of at least €500,000

Brokers for professional traders normally only require two of these three criteria to be fulfilled. This means they can accommodate both working professionals who can prove they frequently make trades, and experienced retail traders who can show they have sufficient capital and are actively trading with large amounts.

FAQ

What Is A Professional Trading Account?

Professional trading accounts are offered by some brokers and provide specialized trading terms for high-volume traders.

Importantly, pro trading accounts differ from retail trading accounts by offering higher leverage, lower spreads, fee rebates, advanced tools and dedicated support.

Can Anyone Open A Professional Trading Account?

Whereas retail trading accounts are available to most adults with the required documents and initial deposit, professional trading accounts are reserved for pro traders who meet certain criteria.

Criteria can vary depending on the regulator and broker, but applicants usually have to show they have experience in relevant trading products (e.g. forex and CFDs), a track record of placing large and frequent trades (e.g. at least 10 per quarter for the last 4 quarters), and/or a sufficiently-sized financial portfolio (e.g. upwards of €500,000).

What Are The Benefits Of A Professional Trading Account?

Pro traders are not restricted to the lower rates of leverage that top-tier regulators usually stipulate for retail investors – normally around 1:30. As a result, a regulated, reliable broker can offer professional clients up to 1:500 or more.

Professional clients usually execute a much higher volume of trades, and thus they are generally afforded more competitive fees with tighter spreads and lower commissions. Rebates are also common through schemes that offer greater discounts the more you trade.

Many brokers for professional traders will offer clients one-to-one, personalized account support, to ensure they can get the most out of their platforms and services.

Professional trading accounts often have access to the best tools and features a brokerage offers. This can include free access to or reimbursement for Virtual Private Servers (VPS).

What Are The Risks Of A Professional Trading Account?

Professional traders are not covered by the same safeguards imposed by regulators to protect retail traders. This means you may waive negative balance protection and restrictions on high-risk products like cryptocurrency.

Brokers for professional traders also require larger sums of upfront investment. These can take the form of higher minimum deposits and ongoing monthly trading volume requirements.

Are There Alternatives To Professional Trading Accounts?

Funded trading accounts are an attractive alternative for retail traders who want to make a step up from their standard trading accounts but do not meet the criteria to count as professionals.

A funded trading account allows traders to earn money from the profits of trades they make from capital provided by a prop firm. Most brokers with funded accounts require traders to complete a trading challenge to prove their skills, and then supply them with a set amount of starting capital that the traders can increase by meeting profit targets.

What Brokers Do Professional Traders Use?

Our team have ranked the best brokerages for professional traders. In running our comparison, we took into account multiple factors, from leverage, support, tools and fee rebates, to the safeguards you may have to give up, including negative balance protection and access to investor compensation schemes.

What Trading Platform Do Professional Traders Use?

MetaTrader 4 (MT4) is the independent trading platform most commonly used by professional traders. It has been around for a long time and is still the most popular, despite the later released MetaTrader 5. MetaTrader 4 offers technical indicators, charts and automated trading support, while also being very customizable.

Some brokers have proprietary trading platforms that are good enough for many professional traders. See our list of top brokers for trading professionals above for options.