THE BEST 10 FOREX BROKERS 2020
Forex market is the largest and most actively traded financial market in the world. When looking for the "best" forex broker, both beginners and experienced traders generally look for several key features and benefits.
The most important items to choose top 10 forex brokers are: the trading experience,Download MT4 and MT5 ,the breadth and depth of product offerings (currencies, CFDs, indexes, commodities, spread betting , crypto currencies, etc.), fees (including spreads and commissions, exchange rate), trading platform(s) (web-based, downloadable software, mobile, charting, and third-party platforms), professional customer support, trading education and research, and trustworthiness.
According to Forexbrokers.com These are top 10 forex brokers 2021
1. IG
IG was founded in London in 1974 and is publicly traded , it is also regulated in six tier-1 jurisdictions which makes it a very safe broker for forex and CFDs trading.
IG is a comprehensive forex broker that offers full access to the currency market and support for over 80 currency pairs. The broker only offers forex trading to its U.S.-based customers, the brokerage does it spectacularly well.
Pros
- Easy to navigate platform is easy for beginners to master
- Mobile and tablet platforms offer full functionality of the desktop version
- Margin rates are easy to understand and affordable
- Access to over 80 currency pairs
- IG spreads starting from 0.8 pips which means forex trading at IG is priced very competitively
- IG provides a demo account so you can practice for free, additionaly they provide tons of content to help you learn.
- 24/7 customer support.
cons
- U.S. traders can currently only trade forex
- Customer service options are lacking
- No 2-factor authentication on mobile
- IG offers a low maximum leverage of 50:1, this is US regulation but is still a con for us. Using IG outside of the US you can get bigger leverage .
2. Saxo Bank
Saxo Bank was established in the year 1992 as a privately owned company. The headquarters of the bank is in Copenhagen, Denmark and it has managed to set itself apart to become one of the leading retail brokerage innovators in Europe.
The name was changed to Saxo when the company obtained a banking license in 2001. Saxo offers trading through its online platforms in Forex, stocks, CFDs, futures, funds, bonds, and futures spreads.
Pros
- Great trading platform- Outstanding research
- Broad product portfolio
cons
- High bond, options and futures fees
- High minimum deposit
- Lacks live chat and 24/7 availability
3. CMC Markets
Founded in 1989, CMC Markets has grown to become one of the leading retail forex and CFD brokerages globally. CMC Markets serves over 57,000 clients worldwide through its 15 offices globally, with a staff count of 687 people across its entities regulated in the UK, Canada, and Australia.
Pros
- Extensive range of offerings
- Emphasis on education & customer service
- Offers protection for client accounts
- Strict regulation
- Financial Services Compensation Scheme
- Powerful platforms: Next Generation & Metatrader 4
- Innovative platform tools including ‘Module linking’ & ‘Pattern Recognition’
- No minimum account opening deposit
cons
- Does not accept U.S. clients
- High CFD spreads for certain indices
- Spread mark-ups
- No fixed spread accounts
- No copy trading platforms
- No FIX API
4. Interactive Brokers
Founded in 1977, Interactive Brokers is one of the oldest online brokerages in the U.S. and has been listed publicly since 2007. Interactive Brokers has 876,000 clients and is well-capitalized with $6 billion in excess regulatory capital.
The firm makes a point of connecting to any electronic exchange globally, so you can trade equities, options, and futures around the world and around the clock.
pros
- Extremely smart order router
- Trading on cutting edge platforms across multiple devices
- Research & analysis from reputable third party firms
- Comprehensive trader education packaged as ‘knowledge base’ &Traders’ academy
- Multiple trader tools are provided
cons
- Small or inactive accounts generate substantial fees
- Limited payment options; no PayPal or other modern online payment options
- Clients from about 10 countries are not accepted
- Customer support response time
- No fixed spread accounts
- Restricted leverage
- Streaming data runs on a single device at a time
5. TD Ameritrade FX
Founded in 1975, TD Ameritrade is publicly traded and regulated in five tier-1 jurisdictions, making it a safe broker for forex trading. TD Ameritrade offers the best of both worlds. On one hand, 0-commission trading and a vast library of educational articles and videos make TD Ameritrade ideal for a new investor’s first brokerage account. On the other hand, technology like the Thinkorswim platform gives accomplished traders the tools needed to pull off labyrinthine options trades or sell livestock futures at 3 a.m.
Pros
- World-class trading platforms
- Detailed research reports and Education
Center
- Assets ranging from stocks and ETFs to derivatives like futures and options
- Low trading fees (free stock and ETF trading)
- Superb desktop trading platform
- Great customer support
cons
- Thinkorswim can be overwhelming to inexperienced traders
- Derivatives trading more costly than some competitors
- Expensive margin rates
- You can trade only on US markets
- Accounts mostly limited to US residents
6. City Index
City Index was founded by Chris Hales and Jonathan Sparke in September 1983 and started trading in March 1984 offering spread betting. In 2001, the company launched its CFD Trading function in the UK. the group opened offices in Sydney, Singapore and Shanghai to serve clients across the Asia Pacific region.
pros
- Low fees for forex
- Fast and smooth account opening
- Diverse research tools
- Trading signals
- Dedicated client relationship manager
- Educational trading academy
- 24/5 customer support
cons
- No US clients
- Inactivity fee
- No Islamic accounts
- Limited product portfolio
- Non-user-friendly desktop platform
7. XTB
XTB was founded in Poland in 2002 and has since grown to become a well-known broker for trading forex and CFDs. XTB serves nearly 200,000 clients globally as of its 2020 H1 report for the first of the year. XTB maintains offices in over a dozen countries across Europe and is licensed by numerous regulators, including the UK's FCA, Poland's KNF, Germany's BaFIN, Spain's CNMV, France's AMF, Cyprus' CySEC, and Belize's FSC.
XTB is considered safe because it has a long track record, is listed on a stock exchange, and publishes its financial statements transparently.
pros
- Strict regulation
- Easy to use MetaTrader platforms
- 1500+ CFD markets: Forex, Indices, Commodities & Shares
- Multiple deposit / withdrawal methods
- Dedicated personal account manager
- Trading academy
- Live market commentary
- Sentiment analysis & other useful trading tools
- Minimum $ 1 deposit
- 24/5 customer support
- Islamic accounts
- Easy and fast account opening
- Free and fast deposit and withdrawal
- Low forex fees
cons
- No US clients
- Inactivity fee
- Limited fundamental data
- High fees for stock CFDs
8. FOREX.com
Founded in 2001 FOREX.com offers clients access to forex, equities, commodities, indices, bonds, ETFs, industry sectors, cryptocurrencies and more.
The company is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK and the US Commodity Futures Trading Commission (CFTC).
pros
- Wide range of instrument offerings
- TradingView charts integrated into web platform
- Regulated by FCA (U.K.) & CFTC, NFA (U.S.)
- Provides protection for U.K./E.U. client
accounts
- Discounts for high-volume traders
- Low forex fees
- Great variety of currency pairs
cons
- Limited product portfolio
- Account protection not available for U.S. clients
-High stock CFD fees
- No guaranteed stop losses for U.S. clients
9. EToro
eToro was founded as RetailFX in 2007 in Tel Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring.
In 2010, the firm released the eToro OpenBook social investment platform, along with its CopyTrading feature, that enables investors to view, follow and copy the network's top traders automatically.
pros
- Easy to use website with a smooth and intuitive trading platform
- Access to a community style feed where you can learn
- Easy to deposit and withdraw by linking bank accounts and using USD
- Low minimum account ($50)
- Strict regulation
- Segregated client funds
- 0% commission free trading
- Ability to buy fractional shares
- CopyTrader™ technology
- Popular Investor Program
- Free access to TipRanks expert stock analysis
- Receive notifications on volatility and market events
- Islamic accounts
cons
- No live chat support
- No MetaTrader platforms
- No scalping or hedging allowed
- $10 inactivity fee after 12 months
- Services only available in 43 states
- US residents limited to crypto
- Spreads can be smaller on other platforms
- Min $25 to buy a cryptocurrency
10. Swissquote
Founded in 1996, Swissquote Group Holding Ltd is a Swiss banking group that specialises in the provision of online financial and trading services. They are constantly striving to deliver the latest innovative technologies to offer superior trading conditions to clients. They offer one of the largest ranges of tradeable instruments across multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, ETFs & CFDs
pros
- Multiple regulation
- Large range of trading instruments
- Commission free trading
- Competitive spreads
- No inactivity fee
- Proprietary trading platform
- Exclusive in-depth market research
- Daily & weekly market analysis from experts
- Access to many markets and products
cons
- Some research tools are not free- No US clients
- No fixed spread accounts
- Minimum $1,000 deposit
- Confusing trading platform selection
Join our Affiliate program and Earn referral commission
Join our affiliate program and share prosperity with us. Promote your favorite products and services and earn up to 30% commission
All you need to do is sign up to our website affiliate program in link below, fill out your invoice profile and get your unique tracking link from our website. You will earn commission from all referrals who purchase from us with your referral link.
https://mohotrend.goaffpro.com/
Why partner with Mohotrend?
Promote made easy
Promote Mohotrend anywhere via our referral link. Save time and money on content creation by linking to products, blogs and more with introducing Mohotrend to your audience.
Commission
Receive a 30% bounty per referral, Plus, the more referrals you drive through the program, the higher your commission tier can go.
Powerful tracking
Our affiliate dashboard offers a comprehensive look at your clicks, trials, sales and commissions. You can view your earnings, track performance, and will get paid at the same time every month.
GET STARTED TODAY
https://mohotrend.goaffpro.com/