Compare Top 6 Best Forex Brokers in British Virgin Islands for 2024

By:

James Knight

James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.

Updated:  Jun 4, 2024

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Our expert panel tested all the best forex brokers in British Virgin Islands and rated their features according to 8 key criteria, including regulatory status, the range of currency pairs on offer, and overall trading experience.

The panel set out to answer the question: what’s the best forex trading app in British Virgin Islands for British users? 

Read our verdict for British Virgin Islands below to compare the best forex trading platforms.

What is the best forex broker in British Virgin Islands?

Our experts rank IG Markets as the best forex broker in British Virgin Islands.

The list below shows the three best British forex brokers. These are the top forex trading apps in British Virgin Islands for their security, service, and support.

Most popular

1

Min Deposit

–

Best offer

User Score

9.8

Offers access to over 80 currency pairs, including major, minor, and exotic pairs. Traders can explore various combinations and capitalize on price movements.

Spreads start from 0.8 pips, ensuring cost-effective trading. Tight spreads mean minimal difference between buying and selling prices.

Enjoy flexible access to more than 17,000 global markets, with reliable execution

Start Trading more info

Payment Methods:

Bank Transfer, Debit Card, PayPal, Credit Card, Wise

Full Regulations:

ASIC, FCA, FINMA, is a licensed bank (IG Bank in Switzerland)

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

2

Min Deposit

–

Best offer

User Score

9.6

Powerful Forex trading platforms, both automated and manual

Access to over 50+ currency pairs including major, minor and exotic pairs

Enjoy competitive spreads, starting at only 0.8 pips per trade

Start Trading more info

Payment Methods:

Bank Transfer, Debit Card, PayPal, neteller, Credit Card, Wire Transfer, WebMoney, Visa, Mastercard, American Express, MoneyBookers, Rapid Transfer, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill

Full Regulations:

ASIC, FSA, FSCA, MiFID

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.

3

Min Deposit

–

Best offer

User Score

9.4

Multi award-winning Australian forex broker

Offers 60+ forex pairs in all major currencies

Trusted and regulated by ASIC and CySEC

Start Trading more info

Payment Methods:

Debit Card, PayPal, neteller, Credit Card, Bank Wire, BPAY, China UnionPay, skrill

Full Regulations:

ASIC, CySEC

CFDs are derivatives and can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading CFDs you do not own or have any rights to the CFDs underlying assets.

Top 6 online forex brokers British Virgin Islands, reviewed

1. IG Markets: Best for trusted and transparent trading

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From 0.5%

Fees

$…

Minimum deposit

17,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Intuitive web trading platform Excellent demo account available Variety of deposit and withdrawal options Wide variety of useful educational tools Trading platform tutorial to get you started

Slow account opening process Unavailable in all regions

Overview

We love IG because it’s one of the most established and reputable names in the online trading industry, known for its reliability, comprehensive offerings, and strong regulatory compliance. In the United States, IG recently changed its name to TastyFX and is focused solely on forex trading. 

TastyFX is America’s fastest growing forex brokerage and as you’d expect from a subsidiary of IG, it offers excellent service with a wide selection of tools and features. Not only will you have access to over 80 forex pairs like EUR/USD, GBP/USD, and USD/JPY, but you’ll also pay $0 commission and have spreads starting from just 0.8 pips. 

What makes TastyFX stand apart from other US brokers is its excellent bonus schedule. After creating an account you can access up to $10,000 in cash bonuses. You cna also earn up to 15% rebate cashback every month. 

The fees: TastyFX has a clear and easy to understand fee schedule. It is a commission free brokerage and only charges a spread. Spreads are variable and generally lower for more liquid currency pairs. Spreads are as low as 0.8 pips for EUR/USD. Forex markets offer up to 50:1 leverage, or 2% margin requirements, on forex pairs like EUR/USD and USD/CAD.

Highlights

Features	IG Markets summary
No. of tradable assets	17,000+
Min. Deposit	$0
ID verification required	Yes
Free demo account	Yes
Supported assets	Stock CFDs, ETFs, Forex CFDs, Crypto CFDs, Index CFDs, Commodities
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	FSCA, MAS, FMA, ASIC, FCA, BaFin, FINMA, DFSA, BMA, CFTC, NFA
View more >	IG Markets >

Visit IG Markets IG Markets Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

2. AvaTrade. Best regulated broker for secure trading

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From 0.13%

Fees

$…

Minimum deposit

500

No. assets

Yes

Demo/virtual account

Pros & Cons

Trade 1000+ CFDs with competitive spreads Regulated by Tier 1 financial bodies across the world Consistently highly rated trading platform on web and mobile Offers social trading through its proprietary AvaSocial platform

Spreads are competitive without being industry-leading Some assets are only available to trade through the MetaTrader software

Overview

We love AvaTrade because it is a reliable CFD broker, that gives users access to a wide range of markets. As a CFD broker, AvaTrade lets you speculate on the price movements of various currency markets without owning the underlying assets. AvaTrade is a multi asset brokerage firm and includes CFDs for multiple forex pairs including EUR/USD, GBP/USD, USD/JPY, and more. 

AvaTrade is also highly regarded for its strong regulatory framework and commitment to security. AvaTrade is regulated in multiple jurisdictions, including Europe, Australia, Japan, South Africa, and the British Virgin Islands, which means it must adhere to stringent regulatory standards across the world. 

AvaTrade isn’t just well regulated, it also employs advanced security measures to protect client funds and personal information, including segregated accounts and robust encryption technology. 

The fees: There is no commission on any trading. AvaTrade makes money from the Bid/Ask spread instead. Forex spreads start at 0.7 pips. Positions left overnight are charged a swap fee that varies depending on size. An inactivity fee of £/€/$50 per month is applicable if you don’t log in to your account for three consecutive months.

Highlights

Features	AvaTrade summary
No. of tradable assets	1250+
Min. Deposit	$100
ID verification required	Yes
Free demo account	Yes
Supported assets	Stocks, Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Commodity CFDs, Index CFDs
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	FSCA, FSA, ASIC, CBI, MiFID, CySEC, BVIFSC, FRSA
View more >	AvaTrade >

Visit AvaTrade AvaTrade Review

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.

3. FP Markets. Best for low spread & 0-pip trading

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…

Fees

$…

Minimum deposit

60

No. assets

No

Demo/virtual account

Pros & Cons

Trade 10,000+ CFDs across multiple asset classes Highly regulated and reliable platform Copy and social trading features

Not available in the US, Japan & New Zealand IRESS platform is expensive

Overview

We love FP Markets because it uses cutting-edge technology to ensure all forex trades are executed at lightning fast speed. It’s an award-winning broker and offers over 60 currency markets with spreads starting from zero pips and leverage up to 500:1. 

FP Markets has zero restrictions and allows all trading styles, including scalping and running expert advisors. It integrates with the popular MetaTrader 4 platform and has its own technology-driven charting package. For beginners, FP Markets offers a free copy trading service where you can mirror profitable users’ trades directly in your own account. 

The fees:  FP Markets has two account types with different fees for forex trades. Its standard account has zero commission but has spreads starting from 0.9 pips. Its Raw account gives access to its ECN trading platform and charges $3 per side (per lot) for every forex trade. 

Highlights

Features	summary
No. of tradable assets
Min. Deposit
ID verification required	No
Free demo account	No
Supported assets
Mobile trading app	No
Web trading platform	No
Regulatory bodies
View more >	>

Visit Review

CFDs are derivatives and can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading CFDs you do not own or have any rights to the CFDs underlying assets.

4. Pacific Union. Best for social trading & customer support

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…

Fees

$…

Minimum deposit

200

No. assets

No

Demo/virtual account

Pros & Cons

70+ forex pairs and 200+ financial assets available to trade Extremely low minimum trade sizes Multilingual support in 18+ languages

Minimum withdrawal of $100 Fewer assets than many competitors

Overview

We love Pacific Union because its beginner friendly platform comes loaded with lots of educational content, including how to guides and video learning. Pacific Union offers over 30 forex pairs, including majors and minors. 

It’s an award-winning broker with a proprietary social trading application that makes it easy for beginners to follow the strategies and positions of the platform’s top traders. Pacific Union uses the popular Metatrader 4 software alongside its mobile and web based apps. Traders can choose the amount of leverage they want to use, all the way up to 500:1.

The fees: There are fees with Pacific Union, but it depends on your account type. Its standard account is commission free, but Bid/Ask spreads start at 1.3 pips. Pro accounts are charged a $3.5 RT per lot commission and have spreads starting from 0 pips. Swap charges for holding a trade overnight vary depending on size.  

Highlights

Features	summary
No. of tradable assets
Min. Deposit
ID verification required	No
Free demo account	No
Supported assets
Mobile trading app	No
Web trading platform	No
Regulatory bodies
View more >	>

Visit Review

Contracts for Difference (CFDs) trading carries a high level of risk to your capital and can result in losses, you should only trade with money you can afford to lose. CFDs trading may not be suitable for all investors, please ensure that you fully understand the risks involved and take appropriate measures to manage it.

How we chose the best British Virgin Islands forex brokers

Our expert reviews panel is made up of currency traders with years of experience in the forex markets. It includes our Data Analyst, Dan Ashmore, Senior Editor of News, Jayson Derrick, and long-time forex trader, Prash Raval. The panel includes an independent fact checker, Richard Stutely.

Here are the 8 key criteria which the panel used to rate each platform.

• Regulation with a trusted financial institution. We only recommend forex brokers for beginners that are regulated in British Virgin Islands and offer top-tier protection to their clients.
• Low minimum deposit requirements. An accessible forex trading platform in British Virgin Islands, with a low minimum deposit, scored higher in our rankings.
• Mobile app availability. Our experts gave preference to the forex brokers in British Virgin Islands with the best forex trading apps.
• Number of currency pairs available to trade. We expect British Virgin Islands forex brokers to offer a comprehensive service where you can trade major, minor, and exotic currency pairs.
• Amount of leverage on offer. You need leverage to trade forex, so we looked for platforms that offered lots of leverage, within the limitations set by local British regulators.
• Tight spreads. We sought the best value for the average user. Small spreads mean a lower cost of trading.
• Lowest commissions and other fees. Our experts don’t like hidden fees and unexpected costs, so brokers with a clear fee structure performed well.
• Compatibility with trading software. Any British forex broker that offers integration with popular trading software like MetaTrader 4, MT5, or cTrader received a high rating.

More about the best forex trading platforms in British Virgin Islands

Which currency pairs can I trade in British Virgin Islands?

You can trade major, minor, and exotic pairs when you sign up for the best forex trading platform in British Virgin Islands. The majors and minors refer to the largest and most popular currencies paired with each other, while the ‘exotics’ are everything else.

• Major pairs. The major pairs are made up of the US Dollar paired with the other most highly traded currencies. Major pairs include: USD/EUR, USD/GBP, USD/JPY, USD/CHF, USD/AUD, USD/NZD, and USD/CAD.
• Minor pairs. The minor pairs include at least one of the Euro, British Pound, or Japanese Yen paired with other large currencies, but do not include the US Dollar. 
• Exotic pairs. Exotic pairs include a major currency ‘crossed’ with a developing currency. There are many exotic pairs but they include things like GBP/HUF, EUR/MXN, and JPY/ZAR.

What forex markets are available in British Virgin Islands?

There are two markets that are available with all top forex brokers in British Virgin Islands. One is the ‘spot’ market, another is the futures market, where you use futures contracts to predict future price movements. Here is some more detail on both options.

• Spot forex. Trading the spot market means to buy and sell currencies instantaneously at the live market rate. This is the most common way to trade forex in British Virgin Islands for most people.
• Forex futures. Futures contracts are an agreement to buy or sell a currency at a fixed price at a set date in the future. Futures require more understanding of the economic factors that impact prices over time. For that reason, they’re generally only used by people with experience of currency trading.

Is MT4 available in British Virgin Islands?

Yes, MetaTrader 4 is legal in British Virgin Islands. When you use MetaTrader software, you have to sign into a brokerage account and any live trade you place goes through a forex trading platform. As long as you can connect to a legal British forex broker, you can use MT4 or MT5. 

What’s the minimum forex trade size in British Virgin Islands?

The industry standard is 0.01 ‘lots’, which is equivalent to 1,000 units of the currency you want to trade. This is known as a ‘micro lot’. A ‘lot’ equals 100,000 units of the currency you want to trade.

Can I trade other assets with a forex broker in British Virgin Islands?

You can, though it depends on the type of broker you choose. The usually offer other financial markets in addition to currency pairs. If you want to trade other assets, such as stocks or cryptocurrency, then you need either the best trading platforms in the British Virgin Islands or the best crypto exchanges in the British Virgin Islands.

How to trade forex in British Virgin Islands

FAQs