Know how your broker makes money.Before you deposit.

Q: How do forex brokers make money?

Most brokers earn from spreads, commissions and swap fees. B-book brokers also profit when clients lose. A-book and ECN brokers pass orders to liquidity providers and earn from markups and commissions.

Q: What is the difference between A-book and B-book?

An A-book broker routes client orders to the market. A B-book broker takes the other side of client trades, so it can profit when clients lose. Many brokers run a hybrid model.

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Exness

CySECFCAFSA

Multi-asset trading, many account typesRead review

XM

CySECASIC

Beginners, education and supportRead review

XTB

FCACySEC

Research tools and stock CFDsRead review

Admiral Markets

CySECFCAASIC

MetaTrader users and platform choiceRead review

Vantage Markets

ASICFCA

Copy trading and raw-spread accountsRead review

PU Prime

ASICFSA

Wide instrument rangeRead review

Swissquote

FINMAFCA

Established Swiss bank-backed tradingRead review

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Licence check. We verify the legal entity and licence number on the regulator’s register.
Fees in full. Spreads, commissions, swaps and withdrawal costs, not just the headline spread.
Execution model. We say whether a broker is A-book, B-book or hybrid, where it is disclosed.
Fund protection. Segregation, negative balance protection and compensation schemes.
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Quick answers

How do forex brokers make money?

Mostly from spreads, commissions and swap fees. B-book brokers also profit when clients lose, because they take the other side of the trade. A-book and ECN brokers pass orders to liquidity providers and earn from markups and commission.

What is the difference between A-book and B-book?

An A-book broker routes your order to the market. A B-book broker keeps it in-house, so your loss is its gain. Many brokers run a hybrid and decide per client.

Which regulators matter most?

The FCA, ASIC, CySEC and BaFin enforce client fund segregation, complaint handling and leverage limits. Offshore licences usually offer weaker protection.

Is trading forex and CFDs risky?

Yes. Most retail accounts lose money on CFDs. Never trade money you cannot afford to lose, and use a risk calculator before you size a position.

Risk warning: Trading forex, CFDs and crypto carries a high risk of losing money. Content is for information only and is not financial advice. Some links are affiliate links.