Carry Trade Brokers | Best Carry Trade Forex Brokers November 2022

Are you looking for a broker to start making money by using a carry trading strategy? Then, you are in the right spot. When done correctly the carry trade can offer great results that can lead to large returns.

With that said, you will need a broker that is suited to making the carry trade and in this post we look at the very best brokers you can use if you want to start making carry trades.

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Recommended

8cap

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71% of retail investor accounts lose money when trading CFDs with this provider....

Forex.com

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money....

VantageFX

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money....

AvaTrade

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71% of retail investor accounts lose money when trading CFDs with this provider....

Rating

4.5

Mobile App

10/10

Regulation

CFTCNFA

CYSECASICCBFSAIBVIFSCFSCAFSAFFAJADGMFRSA

Bill

Min.Deposit

$250

$100

$200

$100

Leverage max

100

100:1

500

400

Forex pairs

Fees & spreads

EUR/GBP

N/A

1.5

N/A

EUR/USD

N/A

1.3

N/A

0.9

EUR/JPY

0.3

1.6

N/A

EUR/CHF

0.2

3.1

N/A

GBP/USD

N/A

1.9

N/A

GBP/JPY

0.1

3.6

N/A

GBP/CHF

0.3

4.2

N/A

USD/JPY

N/A

1.5

N/A

USD/CHF

0.2

2.0

N/A

CHF/JPY

0.3

N/A

EUR/RUB

N/A

USD/RUB

N/A

Additional Fee

Continuous Fee

Variables

N/A

Conversion Fee

Variablespips

1.3pips

N/A

Trading platforms

Demo

Webtrader

Copytrading

Mt4

STP/DMA

Ctrader

MT5

Avasocial

Ava Options

Leverage

FCA

CYSEC

ASIC

CFTC

NFA

BAFIN

CMA

SCB

DFSA

CBFSAI

BVIFSC

FSCA

FSA

FFAJ

ADGM

FRSA

Active

Forex

Indices

Actions

Cryptocurrencies

Raw Materials

Etfs

Additional characteristics

Islamic Account

Education & Webinars

Charts & Tools

Scalping

Spread Betting

Automated Trading

Free Forex Signals

Payment methods

Bank Transfer

Credit Card

Giropay

Neteller

Paypal

Sepa Transfer

Skrill

Sofort

Best Carry Trade Forex Brokers

Forex.com (for US)

Forex.com	Regulation	Min Deposit	Platform	Open an Account
	NFA, CFTC + Others	$100	MT4, MT5, Web and mobile platforms	Trade Now

Pros:

Low FX fees.
Numerous trading pairs.
A wide range of research tools.
Offers MT4 and other trading platforms.

Cons:

Limited product portfolio.
High stock CFD fees.

Forex.com has established itself as one of the best brokers in the world.

This is our number one recommendation for traders in the US as they have strong regulation including being regulated with the CFTC.

With Forex.com you get access to spreads as low as 0.2, the ability to trade on over 80 currency pairs and a wide range of trading platforms.

The MT5 platform on Forex.com comes with 20 free, easy to install EAs and custom indicators. When opening an account with forex.com you also get access to the full suite of downloadable, web, and mobile apps.

Trade Now

Your capital is at risk.

OctaFX

OctaFX	Regulation	Min Deposit	Platform	Open an Account
	CySec	$5	MT4, MT5 and cTrader	Trade Now

Pros:

Small minimum deposit.
STP style broker.
A demo account is offered.
Wide range of platforms.

Cons:

Lacking in tier one regulation.
Some countries not accepted.

OctaFX is a STP style broker that has opened more than 1.5 million trading accounts.

OctaFX covers 100 countries and they have won 28 different industry. Along with their MT5 platform you also get access to MT4 and cTrader platforms.

OctaFX offer a large range of free education and market analysis and you also gain access to their copy trading platform. This allows you to copy other professional traders and make money from their winning trades.

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Your capital is at risk.

Pepperstone

	Regulation	Min Deposit	Platform	Open an Account
	ASIC, FCA + Others	$200	MT4, MT5 and cTrader	Trade Now

Pros:

It is regulated by ASIC and FCA.
Offers various trading platforms.
Low FX, equity, and indices fees.
Excellent customer service.
Free deposit and withdrawal.

Cons:

No investor protection for non-EU traders.
No fundamental data analysis.

Pepperstone is an Australian based broker and is widely regarded as one of the best Forex brokers in the world.

With Pepperstone you have the ability to trade on Forex, gold, indices, equities, and more. One of the biggest benefits to Pepperstone is the availability of not just MT5, but also other different trading platforms. You can choose any of the MT4, MT5, and cTrader that come on desktop, mobile and web trading.

Pepperstone offer very comprehensive education and analysis that ranges from market news, analysis, an economic calendar, guides, webinars, and more.

Another large benefit to Pepperstone is their small trading costs. Pepperstone offer very small spreads and charge low commissions per round trade.

Trade Now

Your capital is at risk.

FXCM

FXCM	Regulation	Min Deposit	Platform	Open an Account
	FCA, ASIC + others.	$300	Trading Station, MT4 and NinjaTrader	Trade Now

Pros:

Very good education available.
Easy to quickly open an account.
Multiple account types available.
Low spreads.

Cons:

Not as many markets as others.
Higher minimum deposit.

FXCM is a leading global broker that has been offering it’s services since 1999.

FXCM has a huge range of trading services that include foreign exchange (FX) trading, CFD trading and spread betting. With FXCM you have access to multiple trading platforms, tools and premium resources to help you gain an edge over the markets.

One of the reasons so many choose to trade with FXCM is because of their extensive range of markets you can trade. You get access to everything from Forex, shares, cryptocurrencies, commodities and indices.

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Your capital is at risk.

IC Markets

IC Markets	Regulation	Min Deposit	Platform	Open an Account
	ASIC, CySec.	$200	MT4, MT5 and cTrader	Trade Now

Pros:

No withdrawal or deposit fees.
Low trading costs.
High leverage.

Cons:

No protection EU traders.
Live chat at times can be slow.

IC Markets is also an Australian based broker that is regulated by ASIC.

This broker has been around a long time and is now one of the biggest brokers in the world.

IC markets has a huge offering that caters to all types of traders. You have the ability to use any indicators or EA’s you like as well as use strategies like scalping.

You can use many different platforms such as MT4, MT5 and cTrader that are available on both desktop and mobile devices.

Trade Now

Your capital is at risk.

What is a Carry Trade?

As a carry trader you are looking to make a profit from the difference in two currencies interest rates.

Whilst this may sound complicated, the basics are quite straightforward. When looking to make a carry trade you are trying to make profit by borrowing in a currency with a low interest rate and invest with a currency that has a high interest rate. This way you profit the difference.

When using leverage you can quickly make a lot of money with the carry trade strategy depending on how long you hold the trade. You also need to take into account that the trade cannot go too far against your opening position and thus offsetting your carry trade profits.

Carry Trade Pros and Cons

Just like any other strategy the carry trade has it’s pros and cons that you need to be aware of.

Pros:

A strategy that you can use for medium to longer time frame trading.
Can use to implement with other trading strategies.
Can offset risk.
Is very flexible and can be used with multiple currencies.

Cons:

Interest rates are changing all the time and can make a trade no longer profitable.
Prices can move against you and offset your carry trade profits.
Not suitable for Islamic traders.

FAQ’s

What is a Carry Trade?

As a carry trader you are looking to make a profit from the difference in two currencies interest rates. Whilst this may sound complicated, the basics are quite straightforward. When looking to make a carry trade you are trying to make profit by borrowing in a currency with a low interest rate and invest with a currency that has a high interest rate. This way you profit the difference.

What are the carry Trade Pros and Cons?

Just like any other strategy the carry trade has it's pros and cons that you need to be aware of. Pros A strategy that you can use for medium to longer time frame trading. Can use to implement with other trading strategies. Can offset risk. Is very flexible and can be used with multiple currencies. Cons Interest rates are changing all the time and can make a trade no longer profitable. Prices can move against you and offset your carry trade profits. Not suitable for Islamic traders.

Best Carry Trade Forex Brokers 2022

Compare Forex Brokers Fees:

8cap

Forex.com

VantageFX

AvaTrade