A list of on-line institutional Forex brokers which are backed by solid and respected off-line companies — such as banks or financial institutions. Usually such Forex brokers are highly regulated and very reliable.

MB Trading — Forex Broker

MB Trading:

Company: MB Trading Futures, Inc. (MBTF) and 3DForex, LLC
On-line since: 2002
Country of origin: USA
Regulation: Commodity Futures Trading Commission (CFTC) registered Futures Commission Merchant (FCM) and a member of National Futures Association (NFA).
Payment options: Bank wire
Minimum account size: $400
Minimum lot size: 0.1 lot
Leverage: 1:100
Spreads: ECN broker - 0.5 pips average on EUR/USD
Advantages:

MetaTrader 4 software support
ECN Forex broker
Low, floating spreads
Supports trading over the phone
Disadvantages:

Commissions for trading
Opening an account is a complicated process
Residents of some countries can't open account
Click here to open an account with MB Trading

IG Markets — Forex Broker

IG Markets:

Company: IG Group
On-line since: 2001
Country of origin: United Kingdom
Regulation: Regulated by the Financial Services Authority (FSA) and a member of the London Stock Exchange (LSE).
Payment options: Wire transfer, checks, credit cards and Moneybookers
Minimum account size: $200
Minimum lot size: 0.1 lot
Leverage: up to 1:50
Spreads: 3 pips on EUR/USD
Advantages:

Solid financial company
Web based trading platform
CFD and metals trading is available
Disadvantages:

No Metatrader 4 software support
Low leverage - 1:50
Click here to open an account with IG Markets

ACM — Forex Broker

ACM:

Company: ACM Advanced currency markets SA
On-line since: 2002
Country of origin: Switzerland
Regulation: Member of NFA (ID: 0388715). Directly regulated by the Swiss Federal Department of Finance (FDF).
Payment options: Bank wire and PayPal
Minimum account size: $2,000
Minimum lot size: 0.1 lot
Leverage: 1:100
Spreads: 3 pips on EUR/USD
Advantages:

Java-based and Flash-based trading platforms
Integrated live news feed
Regulated by Swiss Federal Department of Finance
Disadvantages:

No MetaTrader4 software support
Opening account is a complicated process
Browser based platform
Click here to open an account with ACM

Deutsche Bank FOREX — Forex Broker

Deutsche Bank FOREX:

Company: Deutsche Bank AG
On-line since: 2006
Country of origin: Germany
Regulation: Authorised under German Banking Law (competent authority: BaFin - Federal Financial Supervising Authority) and with respect to UK commodity derivatives business by the Financial Services Authority; regulated by the Financial Services Authority for the conduct of UK business, a member of The London Stock Exchange and is a stock corporation incorporated in the Federal Republic of Germany HRB No. 30 000 District Court of Frankfurt am Main; Branch Registration No. in England and Wales BR000005, Registered address: Winchester House, 1 Great Winchester Street London EC2N 2DB.
Payment options: Bank wire
Minimum account size: $5,000
Minimum lot size: 1 lot
Leverage: 1:100
Spreads: 3 pips on EUR/USD
Advantages:

Unique trading software
Great user support
Operated by one of the most trusted world banks
Disadvantages:

No MetaTrader4 software support
Opening an account is a complicated process
No mini Forex accounts
Click here to open an account with Deutsche Bank FOREX

Forex.com — Forex Broker

Forex.com:

Company: GAIN Capital Group
On-line since: 1998
Country of origin: USA
Regulation: Registered Futures Commission Merchant (NFA ID #0339826).
Payment options: Bank wire
Minimum account size: $250
Minimum lot size: 0.1 lot
Leverage: from 1:100 to 1:200
Spreads: 2 pips on EUR/USD
Advantages:

Web based trading platform available
Free news stream and real-time alerts
MetaTrader 4 platform available
Disadvantages:

Some countries and states are not allowed to open accounts
Click here to open an account with Forex.com

FXCM — Forex Broker

FXCM:

Company: Forex Capital Markets
On-line since: 1999
Country of origin: USA
Regulation: Registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA). Also regulated by the official regulators in UK, Canada, Hong Kong, Australia and France.
Payment options: On-line checks, bank wire, paper checks and credit cards
Minimum account size: $2,000
Minimum lot size: 1 lot
Leverage: 1:100 and 1:200
Spreads: 2-3 pips on EUR/USD
Advantages:

Unique trading software
MetaTrader 4 support
Web-based platform is available
Great user support
Training courses available
Access to DailyFX.com
Disadvantages:

Limitations for MetaTrader 4 accounts
No mini-Forex accounts
Click here to open an account with FXCM

GFT Forex — Forex Broker

GFT Forex:

Company: Global Futures & Forex, Ltd.
On-line since: 2001
Country of origin: Australia
Regulation: Registered with the Commodity Futures Trading Commission, is also a member of the Australian Securities and Investments Commission (ASIC), an independent Australian government body that regulates financial markets, securities, futures and corporations since January 1991.
Payment options: Credit cards, eCheck, PayPal, bank wire and paper checks
Minimum account size: $250
Minimum lot size: 0.1 lot
Leverage: from 1:100 to 1:400
Spreads: Variable (3 pips average) on EUR/USD
Advantages:

Unique trading software
Ability to trade with really huge amounts of money
Free Forex training
More than 60 currency pairs
Leverage up to 1:400
Disadvantages:

Variable spreads can be quite high
Opening an account is a complicated process
Click here to open an account with GFT Forex

Saxo Bank — Forex Broker

Saxo Bank:

Company: Saxo Bank
On-line since: 1999
Country of origin: Denmark
Regulation: Saxo Bank is an officially registered European bank.
Payment options: Wire transfer
Minimum account size: $2,000
Minimum lot size: 1 lot
Leverage: 1:100
Spreads: 2 pips on EUR/USD
Advantages:

Unique trading software
Very solid company
Disadvantages:

Very high margin requirements
Opening an account is a complicated process
Click here to open an account with Saxo Bank

CMS Forex — Forex Broker

CMS Forex:

Company: Capital Market Services, LLC
On-line since: 1999
Country of origin: USA
Regulation: Registered Futures Commission Merchant (FCM) and a Forex Dealer Member (FDM) of the National Futures Association (NFA) (Member ID: 0313199), registered with the Commodity Futures Trading Commission (CFTC) of U.S. and the Financial Services Agency (FSA) of Japan.
Payment options: Bank wire, BPS, credit cards, PayPal, on-line check and paper checks
Minimum account size: $200
Minimum lot size: 0.1 lot
Leverage: from 1:40 to 1:400
Spreads: 3 pips on EUR/USD
Advantages:

Multi-currency accounts
Disadvantages:

No MetaTrader4 software support
Click here to open an account with CMS Forex

ECN broker — Forex Broker

ECN broker:

Company: DTSecurities.at GmbH, Austria
On-line since: 2004
Country of origin: Austria
Regulation: Member of NFA and registered with CFTC.
Payment options: Bank wire
Minimum account size: $200
Minimum lot size: 0.1 lot
Leverage: up to 1:400
Spreads: 3 pips on EUR/USD
Advantages:

Regulated broker with low minimum account ($200) and high leverage (1:400)
Additional trading services (stocks and futures)
Disadvantages:

No Metatrader 4 software support
Click here to open an account with ECN broker

Dukascopy — Forex Broker

Dukascopy:

Company: Dukascopy Swiss FX Group
On-line since: 2004
Country of origin: Switzerland
Regulation: Member of ARIF (a self regulatory financial organization).
Payment options: Bank wire
Minimum account size: $50,000
Minimum lot size: 10 lot
Leverage: 1:100
Spreads: 0-1 pip on EUR/USD
Advantages:

ECN Forex broker
Low spreads
A respected Forex company
Advanced trading platform
Disadvantages:

No mini Forex account
Opening an account is a complicated process
Very high minimum account size
Click here to open an account with Dukascopy

FXCM Micro — Forex Broker

FXCM Micro:

Company: Forex Capital Markets
On-line since: 2008
Country of origin: USA
Regulation: Registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Payment options: Credit cards
Minimum account size: $25
Minimum lot size: 0.01 lot
Leverage: 1:400
Spreads: 1.5 pips on EUR/USD
Advantages:

Unique trading software
Very low spreads
Disadvantages:

No MetaTrader 4 software support
Only 1:400 leverage available
The maximum account balance is $5,000
Click here to open an account with FXCM Micro