Market coverage is a critical factor when choosing a forex broker, as it determines the variety of trading instruments available to traders. A broker with broad market coverage provides access to a diverse range of currency pairs, commodities, indices, stocks, and cryptocurrencies, allowing traders to diversify their portfolios and seize global opportunities. This article outlines how to assess forex brokers’ market coverage effectively.

What Is Market Coverage in Forex Trading?

Market coverage refers to the range of assets and trading instruments that a broker offers. A broker with strong market coverage provides access to:

• Forex pairs – Major, minor, and exotic currency pairs
• Commodities – Gold, silver, oil, and agricultural products
• Stock indices – S&P 500, FTSE 100, NASDAQ, DAX 40, and others
• Individual stocks – CFDs on major companies like Apple, Tesla, and Amazon
• Cryptocurrencies – Bitcoin, Ethereum, Ripple, and altcoins
• ETFs and bonds – For diversified investment opportunities

The wider a broker’s market coverage, the more flexibility traders have to explore different strategies and market conditions.

Key Factors to Assess Market Coverage

1. Range of Forex Pairs

The number and type of forex pairs a broker offers are crucial, especially for traders focusing on exotic or emerging market currencies.

• What to check:
  • Availability of major pairs (EUR/USD, GBP/USD, USD/JPY)
  • Access to minor pairs (EUR/GBP, AUD/NZD, GBP/CAD)
  • Exotic pairs offered (USD/TRY, EUR/SGD, GBP/ZAR)
  • Competitive spreads and liquidity on exotic pairs

Top brokers with extensive forex coverage:

• CMC Markets – Over 330 forex pairs, including exotics
• Forex.com – 80+ currency pairs with deep liquidity
• IC Markets – ECN pricing with a wide selection of forex pairs

2. Access to Commodities

Commodities such as gold, oil, and silver are essential for traders looking to hedge against inflation or capitalize on geopolitical events.

• What to check:
  • Precious metals (gold, silver, platinum)
  • Energy commodities (crude oil, natural gas)
  • Agricultural commodities (corn, wheat, soybeans)
  • Trading costs and leverage on commodity CFDs

Best brokers for commodities:

• AvaTrade – Strong offering in gold, silver, and oil CFDs
• Markets.com – Access to a diverse commodity market
• Vantage – Tight spreads on crude oil and gold

3. Stock Indices & Individual Stocks

Many forex brokers offer stock indices and CFDs on individual stocks, allowing traders to speculate on global stock markets.

• What to check:
  • Availability of top indices (S&P 500, NASDAQ, FTSE 100, DAX 40)
  • Range of individual stock CFDs
  • Market hours and spreads for stock trading
  • Dividend and overnight holding fees for stock CFDs

Best brokers for stock indices and stocks:

• Intertrader – Strong index offerings with fast execution
• TiBiGlobe – Excellent stock market CFD coverage
• Markets.com – CFD trading on top global stocks

4. Cryptocurrency Trading

Crypto trading has grown in popularity, and some forex brokers now offer cryptocurrencies alongside traditional forex instruments.

• What to check:
  • Number of cryptocurrencies available (Bitcoin, Ethereum, Ripple, etc.)
  • Spreads and leverage for crypto CFDs
  • Trading platform support for crypto trading
  • Weekend trading availability

Best brokers for cryptocurrency trading:

• Pepperstone – Wide selection of crypto CFDs with tight spreads
• AvaTrade – Strong crypto offering with regulated access
• Vantage – Supports major cryptocurrencies with competitive pricing

5. ETFs and Bonds

Some brokers offer ETFs and bonds as additional instruments for long-term investors and portfolio diversification.

• What to check:
  • Availability of ETF trading (SPY, QQQ, XLF)
  • Access to bond markets (US Treasuries, European government bonds)
  • Market liquidity and trading conditions

Best brokers for ETFs and bonds:

• IC Markets – ETF and bond CFDs available for traders
• Markets.com – Diverse selection of ETFs for global exposure
• Axi – Offers CFD trading on ETFs and bonds

How to Evaluate a Broker’s Market Coverage

To compare brokers based on market coverage, follow these steps:

1. Check the Broker’s Asset List – Review the broker’s website or trading platform for a full list of available instruments.
2. Test on a Demo Account – Open a demo account to explore the variety of assets and trading conditions.
3. Compare Trading Conditions – Look at spreads, leverage, and liquidity for different asset classes.
4. Review Market Access Hours – Ensure the broker provides extended trading hours for global markets.
5. Assess Platform Capabilities – Make sure the trading platform supports seamless execution across different asset classes.

Conclusion

Assessing a forex broker’s market coverage is essential for traders looking to diversify and capitalize on global opportunities. Brokers like CMC Markets, Forex.com, IC Markets, and Markets.com offer a broad range of forex pairs, commodities, stocks, and cryptocurrencies, ensuring flexibility in trading strategies.

By carefully evaluating the range of assets, trading conditions, and platform capabilities, traders can select a broker that aligns with their market coverage needs.