Top 7 Best Forex Brokers in the World 2020 Update.
Are you looking for the best broker for all your trade for 2020? Or are you looking for a broker with the right currency pair rate speculation? Then you are in the right place. Our team has helped you find the best FOREX brokers in 2020; we did all this research for you. We checked and compared fees, currency pairs, charting tools, platforms, and practically everything for your convenience.
For most of you who don’t know, the FOREX market is the largest and most liquidated globally, representing every currency exchange, with trading conduct 24 hours a day and five days every week. To trade in the FOREX market, you will need an online broker. A trusted FOREX broker is crucial in the FOREX market for success in international currency exchange.
As a currency trader or investor, the need for having specific needs that you will prefer to see in your broker platforms is the kind of tool or research requirement that might meet your spec. But first, you need to understand your investment style, which will help you choose the best FOREX broker for yourself.
Best FOREX Brokers for 2020
Going through the long list of Forex brokers available and picking out the best is too much work for an average trader. After testing up to 30 brokers for various focuses and specialties, our team of professionals has made a list of the best brokers you can always trust for all your trade.
1. IG
Regulated and trusted across the globe, IG offers traders the ultimate package of excellent trading and research tools, industry-leading education, competitive pricing, and an extensive list of tradeable products. This fantastic all-round experience makes IG the best overall broker in 2020 among others Forex brokers.
It supports mobile trading both on the Android App and Apple ios App. Minimum Initial Deposit: £250.00.
Regulations Comparison
| Feature | IG |
| Year Founded | 1974 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Tier-1 Licenses | 6 |
| Tier-2 Licenses | 3 |
| Tier-3 Licenses | 1 |
| Trust Score | 99 |
Offering of Investments
| Feature | IG |
| Forex: Spot Trading | Yes |
| Currency Pairs (Total Forex pairs) | 104 |
| CFDs – Total Offered | 19537 |
| Social Trading / Copy-Trading | Yes |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | Yes |
Platforms & Tools
| Feature | IG |
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy-Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| cTrader | No |
| Charting – Indicators / Studies (Total) | 30 |
| Charting – Drawing Tools (Total) | 20 |
| Charting – Trade From Chart | Yes |
| Watchlists – Total Fields | 14 |
| Order Type – Trailing Stop | Yes |
2. Saxo Bank
For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.
Regulations Comparison
| Feature | Saxo Bank |
| Year Founded | 1992 |
| Publicly Traded (Listed) | No |
| Bank | Yes |
| Tier-1 Licenses | 6 |
| Tier-2 Licenses | 1 |
| Tier-3 Licenses | 0 |
| Trust Score | 99 |
Offering of Investments
| Feature | Saxo Bank |
| Forex: Spot Trading | Yes |
| Currency Pairs (Total Forex pairs) | 170 |
| CFDs – Total Offered | 9000 |
| Social Trading / Copy-Trading | Yes |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | No |
Platforms and Tools
| Feature | Saxo Bank |
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy-Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| cTrader | No |
| Charting – Indicators / Studies (Total) | 58 |
| Charting – Drawing Tools (Total) | 19 |
| Charting – Trade From Chart | Yes |
| Watchlists – Total Fields | 58 |
| Order Type – Trailing Stop | Yes |
3. CMC Markets
CMC Markets is a globally trusted broker that delivers a terrific offering for traders thanks to excellent pricing, nearly 10,000 tradeable instruments, and the Next Generation trading platform, which comes packed with quality research, innovative trading tools, and powerful charting. Also with $0.00 initial deposit.
Regulations Comparison
| Feature | CMC Markets |
| Year Founded | 1989 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 4 |
| Tier-2 Licenses | 2 |
| Tier-3 Licenses | 0 |
| Trust Score | 99 |
Offering of Investments
| Feature | CMC Markets |
| Forex: Spot Trading | Yes |
| Currency Pairs (Total Forex pairs) | 158 |
| CFDs – Total Offered | 9852 |
| Social Trading / Copy-Trading | Yes |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | Yes |
Platforms & Tools
| Feature | CMC Markets |
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy-Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| cTrader | No |
| Charting – Indicators / Studies (Total) | 86 |
| Charting – Drawing Tools (Total) | 40 |
| Charting – Trade From Chart | Yes |
| Watchlists – Total Fields | 9 |
| Order Type – Trailing Stop | Yes |
4. Dukascopy
Thanks to its JForex platform suite, Dukascopy provides forex traders industry-leading trading tools and market research, including our favorite mobile App for 2020. Drawbacks include unreliable customer service and a narrow offering of tradeable markets. Minimum Initial Deposit: $10.00
Regulations Comparison
| Feature | Dukascopy |
| Year Founded | 2004 |
| Publicly Traded (Listed) | No |
| Bank | Yes |
| Tier-1 Licenses | 2 |
| Tier-2 Licenses | 0 |
| Tier-3 Licenses | 0 |
| Trust Score | 90 |
Offering of Investments
| Feature | Dukascopy |
| Forex: Spot Trading | Yes |
| Currency Pairs (Total Forex pairs) | 60 |
| CFDs – Total Offered | 593 |
| Social Trading / Copy-Trading | Yes |
| Cryptocurrency traded as actual | Yes |
| Cryptocurrency traded as CFD | Yes |
Platforms & Tools
Overall, it’s clear that Dukascopy understands trading technology and provides traders the tools they need to succeed. Dukascopy’s flagship platform is JForex 3, a desktop and web-based platform that supports both Windows and Mac. While some forex traders may prefer MetaTrader 4 to a proprietary platform built in house, JForex 3 stands on its own, finishing Best in Class for 2020.
5. TD Ameritrade Forex
With over 70 currency pairs to trade alongside a plethora of tools, research, and education, TD Ameritrade’s think or swim platform provides US-based forex traders the ultimate trading technology experience. Minimum Initial Deposit: $0.00
Regulations Comparison
| Feature | TD Ameritrade |
| Year Founded | 1955 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Tier-1 Licenses | 5 |
| Tier-2 Licenses | 0 |
| Tier-3 Licenses | 0 |
| Trust Score | 98 |
Offering Comparison
| Feature | TD Ameritrade |
| Forex: Spot Trading | Yes |
| Currency Pairs (Total Forex pairs) | 73 |
| CFDs – Total Offered | 0 |
| Social Trading / Copy-Trading | Yes |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | No |
Platforms & Tools
The TD Ameritrade forex trading experience’s backbone is the desktop-based trading platform thinkorswim, also available on the web. The desktop version of the thinkorswim platform takes time to learn; however, the tools’ lineup is well worth the investment.
6. City Index
Backed by GAIN Capital, City Index is a trusted brand that traders choose for its advanced trading platforms, excellent mobile App, diverse market research, education, and extensive market range. Minimum Initial Deposit: £50.00
Regulations Comparison
| Feature | City Index |
| Year Founded | 1983 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 3 |
| Tier-2 Licenses | 0 |
| Tier-3 Licenses | 1 |
| Trust Score | 93 |
Offering Comparison
| Feature | City Index |
| Forex: Spot Trading | Yes |
| Currency Pairs (Total Forex pairs) | 65 |
| CFDs – Total Offered | 4500 |
| Social Trading / Copy-Trading | Yes |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | Yes |
Platforms and Tools
| Feature | City Index |
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy-Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| cTrader | No |
| Charting – Indicators / Studies (Total) | 139 |
| Charting – Drawing Tools (Total) | 25 |
| Charting – Trade From Chart | Yes |
| Watchlists – Total Fields | 18 |
| Order Type – Trailing Stop | Yes |
7. FOREX.com
While not a discount broker, FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders worldwide. Minimum Initial Deposit: $100.00
Regulations Comparison
| Feature | FOREX.com |
| Year Founded | 1999 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 4 |
| Tier-2 Licenses | 0 |
| Tier-3 Licenses | 1 |
| Trust Score | 93 |
Offering Comparison
| Feature | FOREX.com |
| Forex: Spot Trading | Yes |
| Currency Pairs (Total Forex pairs) | 91 |
| CFDs – Total Offered | 4500 |
| Social Trading / Copy-Trading | No |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | Yes |
Platforms & Tools
FOREX.com provides forex traders everything they need, and more, to trade effectively. Between the broker’s flagship Advanced Trading desktop and Web Trading platform, alongside the full MetaTrader suite, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), there are plenty of options available.
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YLS Team.