The forex market is the largest, attractive, and most actively traded financial market in the world. There are thousands of forex brokers globally and when looking for the “top” forex brokers in 2020, for both beginners and experienced traders, look for their key features, advantages, less risk, potential returns, and types of trading options.
People who are interested in forex trading need to select an online broker which is a license holder and authorized one. For investing in the forex market and to get success is a tough job. As an investor, you need to understand the specific requirements related to which platform, instrument, or research requests you have to follow.
Here we have selected the biggest names in forex trading that are dealing with currencies, CFDs, indexes, commodities, spread betting, cryptocurrencies, etc.
We are more committed to helping our readers to aware of the latest information so you can better understand the investment style which can help you to determine which forex broker will be best for you.
Here are our findings for top 15 forex brokers in 2020.
1. IG
2. Saxo Bank
3. CMC Markets
4. Dukascopy
5. TD Ameritrade
6. City Index –
7. FOREX.com
8. XTB
9. FXCM
10. Interactive Brokers
11. Markets.com
12. FBS.com
13. XM.com
14. E-Toro
15. IQ Options
1.IG
Founded in 1974 by Stuart Wheeler, IG is one of the regulated and trusted forex brokers in 2020 in the world. It is a world-renowned CDF provider and also dealing in forex, indices, commodities, options, and more. IG is offering a wide range of facilities to forex traders along with tradeable products, excellent trading and research tools, industry-leading education, and competitive rates.
Unlike most brokers on this list, the IG does accept U.S. forex traders since its entry in the U.S. market in 2019.
2. Saxo Bank
Saxo Bank is a Danish investment bank founded in 1992, providing online trading and investments for those customers who can afford the USD 10,000 minimum deposit (GBP 500 for the UK).
This forex broker is providing competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade.
3. CMC Markets
Currency Management Corporation (CMC) founded in 1989 by Peter Cruddas as a Foreign Exchange market. CMC Markets provides traders a large number of financial products with excellent pricing and its Next Generation trading platform, which is filled with innovative trading tools and charting.
Mainly trading with CDF CMC also allows you to trade in forex, indices, commodities, shares, and treasuries.
4. Dukascopy
Dukascopy is a regulated bank that is authorized in two levels by the Swiss Financial Market Supervisory Authority FINMA and as a bank is also subject to stricter regulations than forex brokers in other official jurisdictions.
It provides forex traders industry-leading trading tools and market research, which includes our favorite mobile app MetaTrader 4. Dukascopy offers a total of 653 symbols to trade including forex pairs and CFD. It also offers you to trade in Cryptocurrencies.
5. TD Ameritrade
TD Ameritrade is also one of the best online forex brokers in 2020 for online stock trading, long-term investing, and retirement planning. It is dealing with 80 currency pairs in trading along with common stocks, preferred stocks, futures contracts, exchange-traded funds, options, cryptocurrency, and mutual funds.
TD Ameritrade is providing a wide range of trading tools and research, free to use think or swim platform provides US-based forex traders a winning experience.
6. City Index
City Index is providing a wide range of products, multi-asset traders, competitive spreads, great platform options, premium research tools, and reliable customer service. It is trading in forex, indices, shares, commodities, and other markets.
7. Forex.com
FOREX.com is an ideal forex broker for those traders who want to trade in forex and CDF in the world. You can trade with the 500 markets including equities, indices, and commodities on the mobile app Meta Trader5.
It is providing competitive pricing, full-feature trading platforms, and comprehensive market research.
8. XTB
XTB is one of the renowned forex brokers in 2020 dealing in forex and CFD. It is regarded as a trusted multi-asset broker providing access to over 1500 financial markets, including FX, indices, shares, commodities, and more. XTB offers include outstanding customer service and the xStation 5 trading platform.
9. FXCM
FXCM is regulated in three tier-1 jurisdictions, making it a safe forex broker. Trading in FX and CDF, FXCM is offering a limited selection of CFDs, whereas its infinite access to exchange-traded securities are segmented away in a diverse account and platform.
10. Interactive Brokers
Interactive Brokers is an online trading solution for traders, investors, and advisors. It is offering direct global access to stocks, options, futures, currencies, bonds and funds. Professional traders can Interactive Brokers as a complete multi-asset and comprehensive platform for trading globally.
11. Markets.com
It’s a platform for both trading and investing. On this platform, you can trade in forex, CDF, spread, stocks, and more. It’s a user-friendly trading platform that includes features like integrated research, market analysis, webinars, and educational videos.
12. FBS.com
FBS is also one of the reliable forex brokers in 2020. Dealing in currency pairs, CFDs, stocks, and metals, it is trusted by millions of traders around the world. Founded in 2009 this company is operating in 190 countries with easy to use online platform which is accessible in different languages for the ease of customers.
FBS is also operating in Pakistan with its full-fledged website in the Urdu language. Working with FBS is simple, convenient, and profitable with special terms to meet the interest of customers.
13. XM.com
XM is the licensed forex broker in 2020. Treading in forex, CFD trading of stocks, stock indices, oil, and gold XM allows customers all over the world to reach the 1300 tradeable instruments on MetaTrader 4, MetaTrader 5 platforms.
XM is the simplest and most appropriate forex trading platform with its full-fledged online website accessible in different languages.
XM also allows the traders in Pakistan to trade easily in commodities, stocks, CDFs, and currency pairs.
14. e-Toro
Founded as RetailFX in 2007, e-Toro is a social trading and multi-asset brokerage company, allowing the traders to use over 1900 instruments, including cryptocurrencies, stocks, ETFs, currencies, indices, and commodities. E-Toro is the copy-trading platform that lets the traders copy the trades of other users on the trading markets.
15. IQ options
IQ Option is one of the best online trading platforms in the world. Founded in 2013 the IQ Option provides a variety of financial instruments including the FX, CFDs on currency pairs (FX), stocks, cryptocurrencies, commodities and ETFs and more.
Also accessible in Pakistan with its full-fledged website, IQ options allow the traders to also trade in binary options.
Honorable Mentions:
Outside of the top 15 forex brokers in 2020 there are other well-renowned forex brokers as well including Admiral Markets, OANDA, Plus500, FxPro, Swissquote, Pepperstone, ETX Capital, LCGTickmill, easyMarkets, Z.com Trade, AvaTrade, HotForex, Darwinex, HYCM, ADSS, and KVB Kunlun.