Best Forex brokers for forex trading, rating and results from fxctraders.com. we have scrutinized out the 9 best forex brokers 2020.
The far-off chat promote is new in action than any other monetary marketplace in the world, with over $5 trillion swapping hands every day. This direct is all ears on assisting Nigerian traders in result the preeminent forex negotiator for their good taste of trading.
For opening trading account, we have compared the 9 best forex brokers 2020. However, we used commissions & spreads, trading platforms, execution, and overall quality as a testing approach. All of the top forex brokers we cover are regulated and licensed by the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). However they meet a strict set of criteria, ensuring protection from forex scams.
What we considered before making a list of 9 best forex brokers for 2020.
9 Best forex brokers for 2020
- IG broker: overall best forex brokers in USA for currency trading
- TD ameritrade: best currency broker with zero fee
- Pepperstone: best online investment platform with MT4.
- NSFX: best online investment platform with ECN.
- Saxo bank: best online investment platform and multi regulated.
- Videforex: Best forex brokers with Good platform.
- XM: Best forex brokers for beginners
- Forex.com: Best forex brokers with low cost
- IQ option: Best forex options broker
Nsbroker, nsfx Ltd. is a Maltese regulated investment services provider operating under European and Maltese regulations. The broker was founded in 2012 by group of experts with market knowledge.
More-so, NSFX Ltd is best known as online Broker for Currencies, Commodities and Indices Trading. The broker is fully licensed by (MFSA) offering MT4 ECN with its Headquarters Regions European Union (EU). Now trading with nsfx could be a thing of joy as they offer better service and support. More-so looking at their customer support via livechat, email and phone.
However they offer advanced solutions and functions that put their clients trading experience at the forefront. Nsfx offer a beginner friendly trading platforms with minimum deposit of $300. Traders can access their trading guide and reserved instruments to trade profitably
Read NSBroker review
Non US Overall and 9 best forex brokers for 2020, best in the world, recommended for UK
Pepperston is one of the top broker so far, Founded in 2002, In Australia and Regulated by (ASIC) and (FCA). They offer Forex, Metals, CFDs and Cryptocurrencies with the best trading platforms.
No doubt, pepperstone is fastest growing platform with low cost pricing. They offer MT4; MT5; cTrader; WebTrader and more platforms on mobile apps. Pepperstone is considered safe since it’s regulated and located at Level 16, Tower One, 727 Collins Street. Melbourne, VIC Australia 3008.
They a Minimum deposit is $200, while minimum trading commissions start from AUD $3.50 each way on major currencies and from USD $0.02 per share. Pepperstone offer soud education to traders making the beginner friendly.
Read pepperstone review
3. Saxo bank
Saxo Bank Group is a world-leading provider of electronic trading and investment. As a Danish bank, saxo bank specializes in online trading and investment. The broker was founded as a brokerage firm in 1992, by Lars Seier Christensen, Kim Fournais and Marc Hauschildt.
Saxo bank offers trading via online platforms in Forex, stocks, CFDs, futures, funds, bonds and futures spreads. They are one of the best forex company in the globe with multi-regulatory license.
Sexo bank is secure, reliable and safe to use, it’s a fintech pioneer. They have partnered with Standard Bank, Old Mutual Wealth, Banco Carregosa and Banco Best. Saxo bank investment has grown large with over 1658 employees.
The minimum deposit at saxo bank is $600, whil the minimum trade size depends on your choice.
Read saxo bank review
Videforex is a forex broker that was founded in 2017. They specialize in forex, CFDs and binary options. Making the market accessible to all user regardless of your level of knowledge.
They are beginners friendly and offers trading guide to starters. Videforex is located at Algobit Ltd. (IBC No: 198028) – 309&310 Office, Albert Street Victoria, Mahe, Seychelles. They offer low cost trading platforms and experienced customer support.
Looking at the broker service offered by videforex, we are glad to recommend it. They offer a good trading platform with web-based, therefore you can just trade on the go. However the minimum deposit is $250, while the minimum trade is $1. There are bonuses to explore and much more tools.
Read videforex review
Forex.com is the oldest forex brokerage founded 1999 by Drew Niv. They are located in New York , United States of America were they proposal their external altercation service.
The platform is a trading VIP of improvement assets UK Limited. Gain capital UK Ltd is a troupe incorporated in England and Wales with UK Companies board run to 1761813.
More-so they take a registered work at 16 Finsbury Circus, London, EC2M 7EB. profit assets UK Ltd is authorised and keeping pace by the fiscal Conduct power in the UK, with FCA put in digit 113942.
The negotiator recommend desktop and MT4 trading platform with inexpensive smallest possible pricing. collect money is in harmony by nine dictatorial agencies. so as a part of return investment forex.com bargain clients worldwide the finest trading platform.
The platform offer 300+ markets including FX, indices, shares and cryptocurrencies. They have grown increasingly diverse of trading tools to ensure clients succeed.
Read forex.com review
This broker is under the Trading Point of Financial Instruments Ltd.
Xm is a CFDs and forex broker that was founded in 2009 by group of experts. The company official headquarters is located at Country Cyprus, Australia, UK.
More-so xm is regulated by CySEC, FCA, ASIC. The company offer a competitive trading platform with good customer support. They offer competitive spreads and low cost services.
However its low and cheap but with high quality market offer. XM offer bonuses $30 non-deposit Bonus up to $5,000 (t&c apply). In addition, they offer promotion from year to year, and equally giving training to their users. XM broker offer its Platform with MetaTrader 4, MetaTrader 5. However they offer leverage up 1:30 and Minimum deposit $5.
XM broker is recommended for all traders, they offer easy and fast withdrawals with methods. Such as Credit/ Debit Card; Bank wire transfer; Local bank transfer; Neteller; Moneybookers; Skrill, etc. XM offer Islamic account as well as demo account, and you can trade on the go.
Read XM review
Ig broker is an online trading broker with long term experience in Financial market.
The negotiator was founded in 1974 and at present they complete traders worldwide with sells job in 16 countries.
Above all, Ig negotiator is in harmony in the country they manage in. consequently they are in time FCA in UK, In Singapore MAS, the US CFTC and NFA, and the Bermuda financial Authority
IG is part of IG Group Holdings Plc, which is a listed company on FTSE 250 index and founded in 1974. They are located in Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA, United Kingdom.
Ig is number 1 CFD provider with intuitive interface in the platform they offer. Therefore traders of forex, options, CFDs and more can benefit from ultimated trading guide. However there’s no fear that you will lose your investment as traders fund is managed in a segregated account.
minimum deposit: $0
Commission fee: $0
Customer service: yes
TD Ameritrad is an American brokerage company that was founded in 1975. One good thing about TD ameritrade is that they offer $0 fee trade. They have grown large with over 11 million clients worldwide. TD Ameritrad is keeping up by Securities and replace assignment (SEC), monetary commerce regulatory Authority (FINRA) and the Commodity Futures Trading assignment (CFTC).
TD Ameritrade is one of the best forex brokers in the United states. They offer zero commission and free best trading platforms. However they offer intuitive trading platform with highly advanced technology. More-so, it’s their Tinkorswim that put their traders first.
Read td Ameritrade review
IQoption broker was founded in 2013 by group experts, they offer forex CFDs and binary options. The broker is located in Cyprus, managed and owned by IQOption Europe Ltd. IQ Option is a financial services provider that is based in Cyprus, designated as a Cypriot Investment Firm (CIF).
The trading platform comes under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC).
However iq option is registered in Hinds Building, Kingstown, St. Vincent and Grenadines with registration No. 24840 IBC 2018. IQoption recently expanded to offer ETF and digital options.
The broker is one of the cheapest broker and recommended for beginners. IQoption offer the best trading platforms with over 40 million traders. In addition, with IQ option you can trade indices and cryptocurrencies.
They are now voted the best mobile trading platform and fastest growing platform. Therefore, looking for a good trading platform to trade forex options IQ option is best for that.
Read IQ option review
How To select a trusted forex broker for forex trading
Therefore, Looking to start trading in the financial markets, you need to select a forex broker. However, we have listed the best forex brokers so you can choose one.
If you see a broker that suits your investment size, regulatory approval and trading style. Then complete your application and wait for approval. However some will require hours, while some will be instant approval.
If you are set to pick up a currency pairs, you would like to trade EURO/USD. Moreover you can choose otherwise like GBP/USD, depending on your choice.
Use the buy and sell button to predict the market. However at the end of the preferred time of the trade. You make 95% of your investment.
5 Tips For Selecting A Forex Brokers
In addition to the above, we will show you how to pick a legal forex broker. However, we all know that choosing a good broker is very important.
Consequently, it’s better to choose a regulated broker than going for bonuses. Therefore make sure to use this guide for selecting a forex broker. consider this guide important.
- Regulation: in this area, you check if the broker is regulated. More-so, in which country are they offering service.
- Minimum deposit: To begin with, you need to know your investment size. However by opening account with any broker you need know their minimum deposit. In short its equally important you know the minimum trade size.
- Payment methods: therefore check if payment methods offered by the broker is available at your reach. More-so check the charges attached to to it.
- Customer support: consider your language in terms of customer support. Therefore, you should know if a broker provides customer support in your language. In short are they offering support at all.
- Platform offered: its very important that when selecting the best forex brokers, you consider platform. However some forex brokers offer in house trading platforms. While some offer MetaTrader4/ MetaTrader5. But what matters is if any of these platform offered is technically enhanced to suit your style.
Finally if after checking all this information and they good to go, then you have perfectly chosen a broker. If you are still a beginner, see our forex trading beginners guide
Is there a reliable forex brokers at all?
These was the question I asked myself in 2016. After trading with five different brokers without profit. I was very confused about the truth. However my reason for losing wasn’t because I didn’t know how to trade currencies. But there are so many factors that could have affect my performance.
- I might have choosed a wrong broker
- I was in a hurry to make money
- My signal wasn’t consistent enough
- I wasn’t learning from experts
Therefore, whatever reason that made me to fail, I learned from it anyway. However if there’s no reliable forex brokers at all, Bill Lipschutz wouldn’t be the best forex trader, no does he trade on his own market only. the truth is that there are both reliable and fake brokers and this is the more reason why you look into how forex brokers scam forex traders and follow our 5 tips for selecting a forex broker each time you want to trade forex.
How Do Forex Brokers Scam Forex Traders,?
Therefore, considering the fact that there legit forex forex brokers, we still find scam forex brokers. However in this guide we will expose their strategies for scamming forex traders. Some scam forex brokers will avoid so many features like:
- They won’t be regulated
- They will not have customer service support.
- Minimum deposit will be up to $500 to $1000.
- Payment methods will only be available on bitcoin.
- their website will crash
- they will call you on phone
- they will offer to trade for you
- You will keep losing on their platform
- much Policy will be attached to withdrawal.
- You will be asked to invest more to make more
The above is just their features, looking at their strategy, there are two types of forex scam. A forex broker that wants to scam a trader and online scammers that claim to be a broker.
More-so there are forex investment platform companies that will claim to trade on your behalf. However, when a forex broker want to scam you they will build a fake trading platform. Each time you trade, you will lose.
Therefore, to avoid mistakes Check out our recommended binary options brokers
More-so read fbs review
Caution about forex brokers
Finally, Forex, CFDs are complex instruments, retail investor accounts lose money when trading CFDs. Don’t Invest all you have, and please consider if you can afford to take the high risk of losing money rapidly due to leverage.
65% of of investors accounts lose their money when trading in the forex market, therefore spread bet should be handled with no pressure.
More-so we would like to let you know that Our company makes money as affiliate. Therefore each time you sign up we receive commissions.
However it doesn’t affect your investment. We would appreciate if you use our company link for all your investment. Please choose from our 9 best forex brokers for 2020.
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9 best forex brokers for 2020