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The 7 Best Forex Brokers

Choosing an online broker to trade in the stock market depends on your priorities: some are willing to pay a higher commission for a modern platform, others are interested in saving. To stay on the optimal option, you need to weigh several factors. A lot depends on how much money you have; as different brokers have different minimum deposit requirements.

In the forex market, the number of brokerage organizations offering their services is about hundreds. If we add that it is an extremely unregulated market, the question of the optimal choice of a broker becomes very relevant, especially for novice traders.

Next, the article presents the best forex brokers 2020 that will allow you to choose a quality one and weed out unreliable.

Iqoption.com

5/5
5/5 in this category.

IQ Option is a world-class brokerage company regulated and licensed by the world’s leading supervisory authorities. A very good trading platform, according to forex broker ranking, allows traders to work with a variety of financial instruments. A large selection of payment services will allow you to easily withdraw earned profits. All of the above gives the opportunity to recommend this broker. Trading takes place on an online platform of its own development, mobile trading is also available, thanks to applications for devices based on both iOS and Android. The trading platform is very well designed, everything is intuitive.

Pluses

  • Return percentage up to 45% in case of the erroneous forecast. A very useful feature that most brokers do not have.
  • Every week IQ Option holds free webinars that will allow you to improve your skill level.
  • In addition, the platform has a lot of training materials-in General, about binary options, strategies, indicators and much more.
  • Usually, withdrawal is possible only through a credit card or Bank account. But not IQ Option. You can withdraw your funds from this platform in any convenient way-by Bank card or account, Yandex, Webmoney, Skrill, QIWI.
  • There are also interactive courses, after which you can answer test questions.
  • What else is a clear advantage of IQ Option over other brokers is the possibility of high profitability from a single transaction.
  • This indicator can reach as much as 92%, which cannot offer any broker for classic or short-term binary options that proves it to be best forex broker in the world.

Minuses

  • IQ Option platform can only provide classic and short-term binary options. That is, the broker does not have such types as “Border” or “One touch”.

CMC Markets

4.6/5
4.6/5 in this category.

CMC Markets is a fairly popular British broker that has been operating in the market since 1989. Pages on the site are available only in foreign languages (English, German and others). However, traders from almost all over the world – including from Russia-can register. The company has quite a lot of positive ratings from its customers, is controlled by leading financial regulators, so it is definitely trustworthy.

Pluses

  • This is a reliable and almost the best forex broker in the world that always withdraws funds without problems and does not block customer accounts.
  • It is possible to receive exclusive materials from the broker’s analysts, and they are provided absolutely free of charge.

Minuses

  • One of the main difficulties is that the site is not available in Russian.
  • Only 2 ways are available for feedback-by international phone and by e-mail.
  • Quite a few training materials will be a clear obstacle for novice traders who will have to educate themselves at the expense of other sources of information.

OANDA

4.2/5
4.2/5 in this category.

Seeking the best forex broker, you should also pay attention to this organization. OANDA specializes in automated Forex trading based on the FxTrade trading platform. The company was founded in 1996, and since 1997 has been focusing on ASP application services. In 2001, OANDA re-qualified as an automated broker. It is a high-speed trading platform that provides instant automatic execution of transactions at the quoted price. The platform is equipped with a news feed, which displays minute-by-minute financial news, as well as historical data “tick-by-tick”. Direct access to the FxTrade web interface is available, which does not require SOFTWARE installation.

Pluses

  • The service includes leaders (signal providers) who are not clients of the broker. This means that the network is much more open than fxUnity.
  • It offers a fee to leaders, which means they have an incentive to provide their signals for copying.
  • Trading leaders are experienced pros – it is impossible to find beginners or questionable traders among them.
  • The broker carefully selects leaders for the platform – they must meet the submission requirements and have solid trading history on a live account of at least six months. The reputation and history of the traders are also checked.

Minuses

  • Customer service has a bad reputation for failing to solve problems.
  • Very active traders may need more functionality in the trading platform and will prefer Iq option for example.

London Capital Group LCG

4/5
4/5 in this category.

London Capital Group, one of the best forex brokers, has been providing intermediary services in financial markets since 1996. It is officially registered in the UK and is listed in the unified register of legal entities. the Head office is located in London. Commercial activity is regulated by the FSA, which is confirmed by the relevant license. This information is presented on the official website and it must be checked without fail. Although London Capital Group has become known primarily for Forex trading, there are still many trading options to choose from. Spot metals and indices, as well as stocks and commodities, are listed here.

Pluses

  • Minimum Deposit $100.
  • The company operates in US currency.
  • Leverage 1:1-1: 300.
  • Round-the-clock support service, characterized by a level of competence.
  • There is a possibility of the auto trade.

Minuses

  • High minimum balance required for the ECN account.
  • Not enough resources for advanced research.
  • High spreads on a classic account.
  • The Commission on MT4 is twice as high as on LCGTrader.

X-Trade Brokers XTB

4/5
4/5 in this category.

XTB dealing center is one of the leading Forex brokers of international level in the field of Internet trading. Its uniqueness lies in the presence of 5 financial regulators and the storage of user funds in segregated accounts. The company believes that it has the most favorable trading conditions, check it and find out the opinion of practicing traders will help this review. It is known that for the last 16 years the company has gone through some re-branding, which changed its name and founders. It currently helps traders to trade in the interbank currency exchange market around the world. To do this, the company opened subsidiaries in Spain, Poland, Germany, France, the UK, and other countries.

Pluses

  • The presence of five financial regulators of the European level.
  • Two trading terminals to choose from.
  • More than 1,500 financial assets, including cryptocurrency; loyal partner programs.
  • Low spreads.
  • Quality training material.
  • Official branches in 12 countries.

Minuses

  • No information about the company and its management.
  • No Russian language in the settings panel.
  • A high minimum Deposit (from $ 250).
  • A demo account is available for 30 days.
  • A long and complex registration procedure.
  • Little-informative analytical materials.
  • Hidden Commission costs.
  • No popular electronic wallets (Qiwi, WebMoney, PerfectMoney).
  • No PAMM accounts.
  • No contests and bonuses.

Forex.com

4/5
4/5 in this category.

In this article, we talk about the best forex broker. It is not one of the most popular traders in the market, but certainly one of the most reliable in Europe and America, which confirmed this, tens of thousands of positive reviews from experienced traders.

Financial broker Forex.com was founded in 1999 as a subsidiary of GAIN Capital Holdings International, LLC. During its more than 15 years of experience, more than 200,000 traders from all over the world have become clients of the company.

Pluses

  • Minimum account size $250.
  • Minimum trade size 0.1 lot.
  • Floating spread from 1 point.
  • High-quality service support, working around the clock for five days a week. You can get help and answers to your questions via live chat, e-mail, skype or by phone.
  • A large selection of various financial instruments (currency pairs, contracts for difference, commodity assets, precious metals, popular indices, shares of large corporations, etc.).
  • Trading platforms MetaTrader 4, FOREXTraderPro, GAIN GTX.

Minuses

  • Only english and chinese version of the site.
  • Support for the MT5 platform has not yet been implemented.

Pepperstone

3.8/5
3.8/5 in this category.

Australian ECN Forex broker Pepperstone was founded in 2010 in Melbourne. A relatively young company in the Forex industry. But during this short period, the broker has received several prestigious awards, and not only in Australia. The main feature of the company is to provide traders with a special EDGE technology that allows you to get the maximum speed of execution of trading requests along with narrow spreads. Read more about this technology and about the company in General below.

Pluses

  • Legal registration in Melbourne, Australia (not offshore).
  • ASIC regulation.
  • Segregation and Deposit insurance.
  • The trading conditions are close to the interbank.
  • All types of trading strategies are allowed, including arbitrage and other HF systems.
  • Narrow spreads.
  • Instant order execution speed.

Minuses

  • Lack of Russian support 24 hours a day.
  • High Commission for the replenishment of the.
  • Withdrawal of funds only by Bank transfer, if the Deposit was not made from a bankcard.
  • Long-term withdrawal.
  • Difficulties with payment systems.

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