Best OTC Forex Brokers in 2023

Best OTC forex brokers list, with a comparison table. Check out our recommended brokers in 2023, ranked by our industry experts. Compare the overall rating and pricing to see how each broker is rated for its trading conditions, spreads and product offering.

What are over-the-counter (OTC) forex brokers?

An Over-the-Counter (OTC) forex broker is a broker providing trading of assets not available on a centralised exchange. That said, every retail FX broker can be considered an OTC forex broker, due to the nature of online retail forex trading.

Online retail FX trading is the most popular OTC market, where trading occurs between a network of banks and brokers, instead of on an exchange. An OTC forex broker is the intermediary, issuer and custodian of the products (CFDs) offered to trade on its trading platform.

As a result of the previously mentioned features, there are no official quotations or clearinghouses. The OTC market is fully managed by the counterparties involved in it. This also implies, within the online OTC forex market, that several independent sub-markets can be created, resulting in market quotations different from broker to broker.

Finding the right broker for your trading strategy

Use our OTC forex brokers list to find out how our industry experts rate each broker for their regulatory status, pricing and overall trading conditions. Compare each broker's regulation and jurisdiction, the minimum initial deposit and the maximum leverage ratio offered.

Check out the available funding methods for each broker, including the most popular e-wallets (PayPal, Skrill, Neteller, etc.) and the available trading platforms. Discover which brokers have Cent accounts (ideal for beginners and to test EAs), and a default negative balance protection (NBP) mechanism to prevent losses bigger than the amount deposited.

Compare the available account currencies, the execution model of each broker (NDD, MM, ECN, DMA and STP), and the instruments available for trading (currency pairs, stocks, indices, commodities and cryptocurrencies).

Reputable OTC forex brokers to help you succeed in your online trading career.