Forex Broker List

Any forex broker list includes investment banks with dealing rooms, commercial banks with treasury operations, and online brokerages that serve the larger marketplace.

Some of the brokerage services are not directly accessible for all customers. For example, interbank market dealers and treasury operations in commercial banks handle the big ticket customers' market orders and liquidity consideration of the banks themselves.

The rates individuals get for their forex dealings may therefore be significantly different from the rates of bigger clients. This difference may prove to be enough to make a trading system unprofitable or push smaller clients to use bigger dealing sizes, which also increases (unhedged) market risk.

There are now forex brokers that provide services for smaller clients with comparable dealing rates to bigger clients. However, it is not unheard of that some of these brokerages charge bigger rollover rates and other fees.

Forex Broker List - Investment Banks

Many investment banks have a lot of activity in the forex dealing sector and in other forex related services. The investment banking dealers are not available to everyone, only for the bigger clientele that need and get dealing rates close to the interbank rates.

The forex broker list for investment banks include:

  • Morgan Stanley
  • Merrill Lynch
  • Goldman Sachs
  • Salomon Smith Barney
  • Lehman Brothers
  • Credit Suisse First Boston
  • Deutsche Bank
  • JP Morgan
  • Prudential Securities
  • Bear Stearns

Forex Broker List - Commercial Banks

The old division between investment banks is deteriorating, but still most of the banks can be profiled as mainly not investment banks. These banks have treasury services divisions and dealing rooms that handle currency trading and foreign currency liquidity issues.

The following banks handle currency trading through treasury services and dealing rooms. Your primary contact may be a customer dealer, or an interbank dealer if your trading size is sufficient.

There are hundreds of these banks out there. Fortunately, the Federal Reserve keeps a list of large commercial banks with consolidated assets of $300 million or more. The list can be found from the Federal Reserve web site:

Forex Broker List - Online Forex Brokerages

The brokerage market for smaller forex accounts sees new entrants almost on a daily basis. Also, although the overall market is expanding rapidly, there is a steady flow of companies exiting the market.

Therefore, any one list of brokers is likely to be outdated. Therefore perhaps the best lists are the commercial ones (in directories) that delete inactive accounts at least once a year for non-payment.

Perhaps the most popular directory for forex brokerages is the one from Yahoo. If you find the overall list (organized alphabetically) too long, you can take advice of the list that has the most popular sites in this category.

The Yahoo! list can be found from:

These are brokerages for the U.S. Yahoo! also has other local sites, for Canada, UK and other places that have better lists with local brokerages.

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