Top 100 🥇 Forex Brokers – ( Reviewed ) 2020

Top 100 Forex Brokers

 

Forex trading involves the exchanging of one currency for another on the foreign exchange market.  No investment in any market or business opportunity is without risk, and the main question always asked and answered by our inhouse team of professional is – “How should I compare forex brokers, and find the best one for me?” In our forex brokers reviews list, we have taken into account a wide range of important ranking factors, from regulations to minimum deposits, to trading platforms and max leverage as all of these factors is what makes a broker great, and impacts a client’s success as a trader.

To trade forex, a trader needs an online broker and trading with a trusted forex broker plays a massive part of a traders’ success in the market. As a currency trader or investor, different traders will have different and specific needs which will related to which platform, tool, or research requirements they may have. For the trader to understand their own unique trading style will help determine which FX broker which will be best suited. The “best” forex broker for a trader will often come down to simple yet important offering like the trading platform or the fees.

The Popularity Rankings of Top 100 Forex Brokers and Platforms below are determined by a combination of the brokers popularity, the quality of the trading platform or platforms on offer and the most important point of all – regulation

 

 

Broker

 

Review and Regulation

 

Rate

 

Alpari

 

Min. Deposit: 20 US$

Max. Leverage: 1:500

Trading Platforms: MT4, MT5

Regulation: SVG FSC, IFSC

 

 

8.15

 

FXTM

 

Min. Deposit: US$200

Max. Leverage: 1:30 | 1:200

Trading Platforms: MT4, MT5

Regulation: CySEC, FCA, FSCA

 

 

8.05

 

FP Markets

 

Min. Deposit: 100 US$

Max. Leverage: 1:500

Trading Platforms: IRESS, MT4, MT5

Regulation: ASIC, CySEC

 

 

8.01

 

XM

 

Min. Deposit: US$5

Max. Leverage: 1:30 to 1:888

Trading Platforms: MT4, MT5, XM WebTrader

Regulation: CySEC, ASIC, IFSC

 

 

7.99

 

AvaTrade

 

Min. Deposit: 100 US$

Max. Leverage: 1:30 | 1:400

Trading Platforms: MT4, AvatradeGo

Regulation: Bank of Ireland, ASIC, JFSA, FSCA

 

 

7.82

 

GO Markets

 

Min. Deposit: 200 US$

Max. Leverage: 1:500

Trading Platforms: MT4, MT5, WebTrader

Regulation: ASIC

 

 

7.77

 

FBS

 

Min. Deposit: 10 EUR

Max. Leverage: 1:30

Trading Platforms: MT4, MT5

Regulation: CySEC, IFSC

 

 

7.67

 

OctaFX

 

Min. Deposit: 100 EUR

Max. Leverage: 1:30 | 1:500

Trading Platforms: MT5, cTrader

Regulation: CySEC

 

 

7.62

 

ETFinance

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: WebTrader, MT4

Regulation: CySEC

 

 

7.59

 

ROinvesting

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4, WebTrader

Regulation: CySEC

 

 

7.51

 

TradeATF

 

Min. Deposit: 100 US$

Max. Leverage: 1:30 | 1:500

Trading Platforms: MT4

Regulation: CySEC, IFSC

 

 

7.44

 

Exness

 

Min. Deposit: 1 US$

Max. Leverage: 1:30 | 1:1000

Trading Platforms: MT4, MT5

Regulation: CySEC, FCA, SFSA

 

 

7.37

 

Plus500

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: Plus500 Platform

Regulation: FCA, CySEC, ASIC, MAS

 

 

7.29

 

eToro

 

Min. Deposit: US$200

Max. Leverage: 1:30

Trading Platforms: eToro Platform

Regulation: CySEC, FCA, ASIC

 

 

7.22

 

IG

 

Min. Deposit: GBP 250

Max. Leverage: 1:30

Trading Platforms: MT4, IG Proprietary

Regulation: FCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC

 

 

7.19

 

SMFX

 

Min. Deposit: 100 US$

Max. Leverage: 1:30 | 1:500

Trading Platforms: MT4

Regulation: CySEC

 

 

7.16

 

Lirunex

 

Min. Deposit: 500 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: CySEC

 

 

7.10

 

BlackBull Markets

 

Min. Deposit: 200 US$

Max. Leverage: 1:200

Trading Platforms: MT4, MT5

Regulation: FMA

 

 

7.06

 

Scandinavian Capital Markets

 

Min. Deposit: 10,000 US$

Max. Leverage: 1:30 | 1:100

Trading Platforms: Currenex, cTrader, MT4

Regulation: Swedish FSA

 

 

7.04

 

Charter Prime

 

Min. Deposit: 100 US$

Max. Leverage: 1:500

Trading Platforms: MT4

Regulation: FSP

 

 

7.02

 

FXGM

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: WebPROfit

Regulation: CySEC

 

 

7.01

 

CommSec

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: WebPROfit

Regulation: CySEC

 

 

 

6.99

 

Synergy FX

 

Min. Deposit: 100 US$

Max. Leverage: 1:500

Trading Platforms: MT4, MT5

Regulation: ASIC

 

 

6.98

 

MultiBank Exchange Group

 

 

Min. Deposit: 50 US$

Max. Leverage: 1:30 | 1:500

Trading Platforms: Maximus Platform, ECN PRO Platfrom, MultiBank Pro Platfrom, MT4, MT5

Regulation: ASIC, BaFin, RAK

 

 

6.94

 

Just2Trade

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5, CQG

Regulation: CySEC

 

 

6.90

 

Goldwell Capital

 

Min. Deposit: –

Max. Leverage: 1:200

Trading Platforms: MT4

Regulation: SECC

 

 

6.85

 

TriumphFX

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: CySEC

 

 

6.75

 

FXFlat

 

Min. Deposit: 200 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5, AgenaTrader

Regulation: BaFIN

 

 

6.68

 

MEX Exchange

 

Min. Deposit: 0 US$

Max. Leverage: 1:500

Trading Platforms: MT4

Regulation: ASIC

 

 

6.64

 

JP Markets

 

Min. Deposit: –

Max. Leverage: 1:200

Trading Platforms: MT4, JPM App

Regulation: FSCA

 

6.60

 

Naga

 

Min. Deposit: –

Max. Leverage: 1:30

Trading Platforms: MT4, MT5, NAGA Web

Regulation: CySEC

 

 

6.32

 

FxNet

 

Min. Deposit: 50 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: CySEC, IFSC

 

 

6.31

 

Atom8

 

Min. Deposit: 2,000 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: FCA

 

 

6.24

 

Velocity Trade

 

Min. Deposit: –

Max. Leverage: 1:30 | 1:200 | 1:400

Trading Platforms: MT4, PFSOFT

Regulation: ASIC, FCA, IIROC, FSB, FMA

 

 

6.21

 

Invast Global

 

Min. Deposit: 25,000 AUD$

Max. Leverage: 1:500

Trading Platforms: MT4, MT5, IRESS, oneZero, Bloomberg

Regulation: ASIC

 

 

6.14

 

Core Liquidity Markets CLM

 

Min. Deposit: 100 US$

Max. Leverage: 1:500

Trading Platforms: MT4

Regulation: ASIC

 

 

6.10

 

Valbury Capital

 

Min. Deposit: 10,000 US$

Max. Leverage: 1:30

Trading Platforms: MT4, IRESS, CQG Trader, PATS J-Trader

Regulation: FCA

 

 

6.09

 

Blueberry Markets

 

Min. Deposit: 100 US$

Max. Leverage: 1:400

Trading Platforms: MT4, MT5

Regulation: ASIC

 

 

6.05

 

Global Prime

 

Min. Deposit: 200 US$

Max. Leverage: 1:400

Trading Platforms: MT4

Regulation: ASIC

 

 

6.03

 

Baxter FX

 

Min. Deposit: 50,000 US$

Max. Leverage: 1:400

Trading Platforms: Currenex, Hotspot, FxAll

Regulation: ASIC

 

 

5.99

 

TeraFX

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: FCA

 

 

5.66

 

Kerford UK

 

Min. Deposit: 1,000 US$

Max. Leverage: 1:30

Trading Platforms: Kerford UK Trader

Regulation: FCA

 

 

5.59

 

Sucden Financial

 

Min. Deposit: 1,000 US$

Max. Leverage: 1:30

Trading Platforms: Kerford UK Trader

Regulation: FCA

 

 

5.53

 

Finotrade

 

Min. Deposit: 1,000 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: FCA

 

 

5.48

 

 

Finspreads

 

Min. Deposit: 50 US$

Max. Leverage: 1:30

Trading Platforms: Advantage Web

Regulation: FCA

 

 

5.44

 

TIO Markets

 

Min. Deposit: 50 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5

Regulation: FCA

 

 

5.41

 

Cresco FX

 

Min. Deposit: 1,000 US$

Max. Leverage: 1:30

Trading Platforms: Cresco Trader, MT4

Regulation: FCA

 

 

5.39

 

CIX Markets

 

Min. Deposit: 500 US$

Max. Leverage: 1:30

Trading Platforms: CIX Trader, MT4

Regulation: FCA

 

 

5.37

 

Nadex

 

Min. Deposit: 250 US$

Max. Leverage: 1:40

Trading Platforms: Nadex Platfrom, NadexGO

Regulation: CFTC

 

 

5.35

 

MahiFX

 

Min. Deposit: 1 US$

Max. Leverage: 1:100

Trading Platforms: MFXVector, MT4

Regulation: ASIC, FMA, FCA

 

 

5.33

 

CPT Markets UK

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: FCA

 

 

5.32

 

House of Brose

 

Min. Deposit: 5,000 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5

Regulation: FCA

 

 

5.31

 

HYCM

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5

Regulation: FCA, CySEC, DFSA, CIMA

 

 

5.31

 

Tickmill

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4, WebTrader

Regulation: FCA, FSA, CySEC

 

 

5.30

 

Markets.com

 

Min. Deposit: 100 US$

Max. Leverage: 1:30 | 1:400

Trading Platforms: Markets.com Web, MT5

Regulation: CySEC, ASIC, FSCA

 

 

5.29

 

XTB

 

Min. Deposit: 250 US$

Max. Leverage: 1:30

Trading Platforms: MT4, xStation 5

Regulation: FCA

 

 

5.28

 

Forex.com

 

Min. Deposit: 50US$

Max. Leverage: 1:40

Trading Platforms: MT4, FOREX.com Platforms

Regulation: FCA, IIROC, ASIC, CFTC

 

 

5.27

 

City Index

 

Min. Deposit: 100 US$

Max. Leverage: 1:500

Trading Platforms: MT4, cTrader

Regulation: IFSC

 

 

5.26

 

IC Markets

 

Min. Deposit: 100 GBP

Max. Leverage: 1:30

Trading Platforms: Advantage Web, AT Pro, MT4

Regulation: FCA

 

 

5.25

 

ETX Capital

 

Min. Deposit: 200 US$

Max. Leverage: 1:500

Trading Platforms: cTrader, MT4, MT5

Regulation: ASIC

 

 

5.23

 

ForexCT

 

Min. Deposit: 100 GBP

Max. Leverage: 30:1

Trading Platforms: TraderPro, MT4

Regulation: FCA

 

 

5.22

 

Amana Capital

 

Min. Deposit: 500 US$

Max. Leverage: 1:400

Trading Platforms: WebPROfit, MobilePROfit, Mirror Trader

Regulation: ASIC

 

 

5.21

 

Oanda

 

Min. Deposit: 50 US$

Max. Leverage: 1:30 | 1:500

Trading Platforms: MT4, MT5

Regulation: FCA, CySEC, DFSA

 

 

5.19

 

Equiti

 

Min. Deposit: no minimum deposit

Max. Leverage: 50:1

Trading Platforms: MT4, fxTrade

Regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC

 

 

5.18

 

ICM Capital

 

Min. Deposit: 500 US$

Max. Leverage: 1:30 | 1:500

Trading Platforms: MT4

Regulation: JSC, FCA, DMCC, SCA

 

 

5.17

 

Pepperstone

 

 

Min. Deposit: 200 US$

Max. Leverage: 1:30 | 1:500

Trading Platforms: MT4, MT5, cTrader

Regulation: FCA, ASIC

 

 

5.16

 

PhillipCapital UK

 

 

Min. Deposit: 200 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: FCA

 

 

PhillipCapital UK

 

 

FXCM

 

 

Min. Deposit: 50 US$

Max. Leverage: 1:200

Trading Platforms: MT4, Trading Station

Regulation: ASIC, FCA

 

 

FXCM

 

 

Rakuten

 

Min. Deposit: 50 US$

Max. Leverage: 1:400

Trading Platforms: MT4, Rakuten FX, ZuluTrade

Regulation: ASIC, SFC

 

 

Rakuten

 

Saxo Bank

 

Min. Deposit: 2,000 US$

Max. Leverage: 1:30 | 1:100

Trading Platforms: SaxoTraderGo, SaxoTraderPRO

Regulation: Danish FSA, ASIC, JFSA, MAS, FCA, FSC

 

 

Saxo Bank

 

ThinkMarkets

 

Min. Deposit: 250 US$

Max. Leverage: 1:400

Trading Platforms: MT4, Trade Interceptor

Regulation: ASIC, FCA

 

 

ThinkMarkets

 

Swissquote

 

Min. Deposit: 1,000 US$

Max. Leverage: 1:100 | 1:30

Trading Platforms: eTrader, Swiss DOTS

Regulation: FINMA, FCA, MFSA, SFC, DFSA

 

 

Swissquote

 

Dukascopy

 

Min. Deposit: 1,000 US$

Max. Leverage: 1:30

Trading Platforms: JForex, MT4

Regulation: FINMA

 

 

5.07

 

LCG

 

Min. Deposit: 0 US$

Max. Leverage: 1:30

Trading Platforms: LCG Trader, MT4

Regulation: FCA, CySEC

 

 

5.06

 

Interactive Brokers

 

Min. Deposit: 2000 US$

Max. Leverage: 1:40

Trading Platforms: TWS, IB WebTrader

Regulation: US SEC & CFTC, ASIC, FCA

 

 

5.05

 

One Financial Markets

 

Min. Deposit: 250 US$

Max. Leverage: 1:30

Trading Platforms: ONE MT4

Regulation: FCA, DIFC, FSCA

 

 

5.04

 

SVK Markets

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: AT Pro, Advantage Web, MetaTrader 4

Regulation: FCA

 

 

5.03

 

Ikon Finance

 

Min. Deposit: 200 US$

Max. Leverage: 1:30

Trading Platforms: MT4, Ikon Prodigy

Regulation: FCA

 

 

5.02

 

EVFX

 

Min. Deposit: 500 US$

Max. Leverage: 1:30

Trading Platforms: Currenex, FastMatch, Integral, FXall, digitalvega, hotspotFX, solidFX, FXCMPRO, FXONE

Regulation: FCA

 

 

5.01

 

Abshire Smith

 

Min. Deposit: 250 US$

Max. Leverage: 1:30

Trading Platforms: VertexFX10, MT4, Straticator

Regulation: FCA

 

 

5.00

 

FIXI Markets

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5, Currenex

Regulation: FCA

 

 

4.98

 

GMG Markets

 

Min. Deposit: 200 US$

Max. Leverage: 1:30

Trading Platforms: MT4, GMG+

Regulation: FCA

 

 

4.97

 

VARIANSE

 

Min. Deposit: 500 US$

Max. Leverage: 1:30

Trading Platforms: MT4, Flextrade

Regulation: FCA

 

 

4.96

 

Temple FX

 

Min. Deposit: 50 US$

Max. Leverage: 1:500

Trading Platforms: MT4

Regulation: FCA

 

 

4.95

 

Land FX

 

Min. Deposit: 300 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5, Land FX MultiTerminal, ZuluTrade

Regulation: FCA, FSA

 

 

4.94

 

Financial Spreads

 

Min. Deposit: 250 US$

Max. Leverage: 1:30

Trading Platforms: Proprietary WebTrader, Mobile App

Regulation: FCA

 

 

4.93

 

Destek Markets

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: FCA

 

 

4.92

 

Blackwell Global

 

Min. Deposit: 500 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: FCA, FSP

 

 

4.91

 

easyMarkets

 

Min. Deposit: 100 EUR

Max. Leverage: 1:30 | 1:200

Trading Platforms: MT4, WebTrader, Mobile App

Regulation: CySEC, ASIC

 

 

4.90

 

ADS Securities

 

Min. Deposit: 100 US$

Max. Leverage: 1:400

Trading Platforms: OREX, MT4

Regulation: UAE Central Bank, FCA, SFC

 

 

4.88

 

Advanced Markets

 

Min. Deposit: 2,500 US$

Max. Leverage: 1:100

Trading Platforms: MT4, DMAhub, Fortex 5 & 6

Regulation: ASIC

 

 

4.87

 

CMTrading

 

Min. Deposit: 250 US$

Max. Leverage: 1:200

Trading Platforms: MT4, Sirix

Regulation: FSB

 

 

4.86

 

SquaredDirect

 

Min. Deposit: 200 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: CySEC

 

 

4.85

 

FXDD

 

Min. Deposit: 100 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5, FXDD WebTrader

Regulation: MFSA, FSC

 

 

4.84

 

Formax Prime

 

Min. Deposit: 1,000 US$

Max. Leverage: 1:30

Trading Platforms: MT4

Regulation: FCA

 

 

4.83

 

EverFX

 

Min. Deposit: 250 US$

Max. Leverage: 1:30

Trading Platforms: MT4, Status

Regulation: CySEC

 

 

4.82

 

Key to Markets

 

Min. Deposit: 100 US$

Max. Leverage: 1:30 | 1:500

Trading Platforms: MT4

Regulation: FSCL, FCA, DMCC

 

 

4.81

 

IFC Markets

 

Min. Deposit: 1 US$

Max. Leverage: 1:30

Trading Platforms: NetTradeX, MT4, MT5

Regulation: CySEC, BVI FSC

 

 

4.79

 

AAATrade

 

Min. Deposit: 500 US$

Max. Leverage: 1:30

Trading Platforms: MT4, MT5, WebTrader

Regulation: CySEC

 

 

4.75

 

Here is a summary of our findings overall

 

  • IG – Best OverallIG is a broker which is regulated and trusted globally and offers traders a wide-ranging list of tradeable products, outstanding trading and research tools, excellent education, and competitive rates.

 

  • Saxo Bank – Best VIP client experienceFor traders who can afford a minimum deposit of USD 10,000 minimum (GBP 500 – UK), Saxo Bank offers competitive pricing, great trading platforms, excellent research, trustworthy customer service, and over 40,000 instruments to trade.

 

  • Dukascopy – Well-rounded offeringDukascopy offers forex traders excellent trading tools and market research, including a great mobile app.

 

  • City Index – Excellent all around offeringApart from an extensive range of products, City Index offers competitive spreads, great platform options, premium research tools, and reliable customer service.

 

  • com – Great platforms and pricing

    FOREX.com is a great choice for forex and CFD traders globally with competitive pricing, full-feature trading platforms, comprehensive market research, and a robust mobile app.

 

  • XTB – Best customer service, great platformXTB is trusted multi-asset broker which is regulated in several major financial centres and provides traders’ a well-rounded, competitive offering. XTB highlights include excellent customer service and the xStation 5 trading platform.

 

  • FXCM – Well-rounded offeringFXCM caters to multiple trader types including high-volume traders, algorithmic traders, and offers quality market research.

Which are the Best Forex Brokers for Low Costs?

 

Breaking down Forex trading costs are not easy and trading costs can be impacted by various reasons. Variable spreads may also widen or narrow at different rates across brokers.

 

Execution policies will vary across brokers in terms of how orders are processed even when all else is equal. Brokers may be acting as market makers or dealers to execute a trader’s trades or act as agents for execution. Forex spreads may include a round-turn commission. Not all brokers will publish their average spread data, and not all brokers record their average spread over the same time-frames, making it a difficult task to make an accurate comparison.

When assessing brokers, we have taken into consideration how much beginners, average traders, and seasoned traders would pay by looking at average spreads for standard forex contracts (100,000 units) as well as mini accounts (10,000 units) and micro accounts (1,000 units). We have calculated the all-in cost by including any round-turn commission that is added to prevailing spreads.

 

Saxo Bank

 

Saxo Bank offers competitive all-round pricing and is our top choice as the best broker in the Commissions and Fees category. Saxo Bank offers traders the most competitive all-in cost to trade, with no added commissions or fees. For example, Saxo Bank’s average spread was just 0.6 pips on the EUR/USD pair over a 30-day period. Saxo Bank also offers traders a commissions-based pricing model which includes discounts for high-volume traders, and pricing can vary by region.

 

While the all-in cost to trade can be very important to many traders, it is vital to look at the whole picture in terms of how a broker’s overall offering could best suit a traders’ specific needs. Traders should ask themselves – “What are the average spreads for the account types offered?” and “How will differences in margin requirements or execution type available affect my forex trading volumes and related trading costs?” – which will help them compare key differences between offerings.

 

Best Forex Trading Platforms

 

Forex trading platforms are the gateway to investing in international currency markets and regardless of a traders trading style or preferred multi-asset instrument, the platform technology used will affect nearly every aspect of the trading experience. If its accessing research or analysing news events, using a proper forex trading platform makes a considerable difference.

 

The technology associated with Forex trading platforms has continued to steadily evolve, shifting from desktop to web, and mobile. From the 100 Best Forex Brokers we have tested it is clear that the best forex provides traders with a robust, feature-filled, all-in-one experience across all devices.

 

Choosing the best forex platform will depend on a multitude of factors. Does a trader prefer a web-based environment or desktop download and how important tools such as charting or automated trading are? Order types, unique tools and advanced features should also be considered. Trying each platform out through a demo account is advised.

 

IG

 

IG is at the top of our list for traders who desire an excellent platform experience which includes technical analysis on charts to integrated trading signals, streaming news, and premium research. Paired with a light-mode and dark-mode option, traders can create multiple workspaces, and content is categorized across asset classes and market sectors.

 

Saxo Bank

 

Saxo Bank takes second place due to the highly refined SaxoTraderGO platform which is available for desktop, web, and mobileSaxo Bank is easy to use and has a nearly perfected the user-interface design. Other highlights include outstanding charting, which syncs across devices and includes integrated pattern-recognition with trading signals.

 

Who is the Best International Broker?

 

Foreign exchange markets are open 24 hours a day, five days a week. Having the ability to react quickly to geopolitical and economic news events through one universal platform, in real-time, is vital. Why? Financial markets, including forex and more recently even cryptocurrencies, are highly interconnected.

 

In the early 2000s, brokers used to concentrate on offering just one asset class, for example, forex, to their customers. Today, trading platforms are no longer just for trading forex or CFDs; instead, multi-asset offerings are now industry standards among all the most significant online brokers. That said, the range of products and markets you can trade still varies considerably across firms.

 

IG

 

When it comes to the best international offering IG offers traders over 17,000 tradable instruments, including 93 forex pairs. IG carries multiple global regulatory licenses, which includes licenses from top-tier jurisdictions such as the US, UK, and Switzerland and in addition to forex and CFDs, IG provides traders access to global stock exchanges through its share dealing account offering.

 

Interactive Brokers

 

Interactive Brokers takes second place and boasts a wide range of top-tier regulatory licenses. Interactive Brokers is best suited to professional traders and provides traders with access to 7,400 CFDs, 105 forex pairs, a list global exchange-traded products, US-traded bitcoin futures, and much more.

 

Which broker offers the Best Forex Research?

 

In order for a trader to trade profitably traders should research content and tools to find and analyse investment opportunities. Leading forex brokers will combine third-party content with in-house research and in the trading platform, research tools are directly integrated. Research tools will include daily or weekly market recaps and analysis, live trading rooms, integrated pattern-recognition tools for news events and charts, screeners, heat maps, and sentiment indicators.  When choosing a forex broker for FX research, traders must remember that quality is as important as quantity.

 

Our top Choices for this category are:

 

  • IG
  • Saxo Bank

 

Best Forex Trading Apps

 

Dukascopy

 

Dukascopy Bank holds the first-place position as the JForex Trader app enables traders to run algorithms straight from their smartphones. The JForex Trader app comes with research and pattern recognition features and also includes an impressive selection of charting capabilities, complex order types, and other advanced offerings.

 

Saxo Bank

Saxo Bank is our second choice with its SaxoTrader GO mobile app which is highly responsive and provides traders a unified experience with its web-based platform, syncing trend lines, indicators, and watch lists. The broker’s native integration of trading signals and pattern recognition, powered by Auto Chartist, is automatically synced with its web platform.

 

How to choose a forex broker?

 

Here are the three most important factors to keep in mind when it comes to choosing an online broker for forex trading. Firstly, a broker must be regulated as the safety of a traders’ deposit is always the top priority. The second step is to compare the trading platforms, tools, and investment research provided by each broker. And finally, read the forex broker reviews to compare pricing and product offerings.

 

How to know if a forex broker is indeed regulated?

 

It is very important to use a well-known, regulated broker in order to avoid forex scams. To check if a forex broker is regulated, identify the register number from at the bottom of the broker’s homepage and look up the firm on the regulator’s website to validate the register number.

 

What’s the difference between a dealing-desk and an agency broker?

 

If a forex broker is operating as a dealer, or dealing-desk, they will be on the other side of their client’s trades. If not, they will be acting as an agent or agency broker by routing the trade on to another dealer.  Hybrid-desks are also available, which may operate as a dealing-desk and agency. Matched-principals on the other hand are dealers who immediately hedge their trades to remove any potential conflict of interest.

 

How does a trader calculate forex trading costs?

 

For forex and CFDs trading, the all-in cost to complete, open or close each trade consists of the spread, plus any round-turn commissions. Overnight financing charges may apply which is known as carrying costs, which can be either a net debit or a net credit. To keep trading costs low, traders should focus on trading the major forex pairs such as the EUR/USD, which offers the most liquidity, and tightest spreads.

 

Is research and education Important?

 

Trading forex is risky business and not easy to boot. Even the most seasoned of forex traders make time to learn new lessons and concepts.

 

In Conclusion

 

Picking the right broker is definitely not an easy task and it is very that traders’ get it right. While this article aims to point traders in the correct general direction, only a trader will know their own personal needs. Take them into account, together with the recommendations made.

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