10 Best Online Forex Brokers for Forex Trading in 2020

There are a large variety of Forex brokers available to the Forex trader of today. Forex trading is fast evolving with new FX brokers emerging all the time and competition evolving at a rapid pace

Top 10 Best Online Brokers for Forex Trading

  1. eToro – has over 5 million registered traders.
  2. IQ option – Trades all Forex and CFD trades
  3. com – Offers advanced charting tools
  4. com – Offers advanced analysis tools
  5. Think Markets – Offers advanced MT4
  6. Xtb online trading – Is an award-winning broker
  7. City Index – Allows forex as spread and CFDs and forex on MT4
  8. AvaTrade – Offers no exchange fees and no commission
  9. Fortrade – Its FCA regulated
  10. EasyMarkets – Trades all forex and CFDs
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    • Award Winning Broker
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      • Reduced Spreads
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        • Award Winning Broker
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          • Trade FX as Spread , CFDs & FX on MT4
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            • No Exchange Fees
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              • FCA Regulated
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                • Trade all FX & CFD s
                • Advanced Charting
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                  • No Exchange Fees
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                    * Please note that individual Brokers T&Cs Apply Risk Warning: Trading Forex (FX), Commodities, Options, and CFDs are a high-risk activity and you may lose more than your initial deposit. Please be sure you thoroughly understand the risks involved and do not invest money you cannot afford to lose. Your capital is at risk. Advertiser Disclosure: Top10tradingplatforms.com is an independent comparison websitesite funded from the referral fees and commision from the sites that it promotes. Top10tradingplatforms.com receives compensation from the brands and brokers sites and advertisements it features. Top10tradingplatforms.com is not able to display and feature information about all the available broker sites or broker site offers.

                    Risk Warning: Trading CFDs, Spread Bets and Foreign Exchange carries a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for everyone. Ensure you fully understand the risks involved and seek independent advice if necessary.

                    As the internet and advanced smart devices increasingly become available, many people are looking into ways they can cash in from the opportunities available on the web.

                    Online Foreign exchange trading, also known as FX trading or Forex, is one of the many revenue streams the internet has allowed to flourish in this time and generation.

                    Forex is the process of exchanging one currency with another for various reasons that include making a profit, commerce, and tourism.

                    At present, Forex trading is gaining enormous popularity among non-specialist individuals due to the advancement of online trading platforms and the emergence of online brokers.

                    While working non-stop five days a week, the forex market offers traders great opportunities and high liquidity. The forex market is not a market to despise as it is the world’s busiest market with a daily trade volume of about $5.1 trillion.

                    One of the things that make Forex a unique market is its centralized nature. Currencies exchanged on the forex market do not have a central market. Instead, they are traded electronically over the counter (OTC), meaning all transactions occur via electronic platforms between traders around the world, as compared to one central marketplace.

                    The Forex market usually is open for trading 24-hours a day, five and a half days a week. At present, the FX market trades world currencies in the major financial centers of New York, Sydney, Tokyo, Frankfurt, Paris, London, Singapore, Zurich, and Hong Kong across all the world time zones.

                    Meaning when trading in the United States ends, the FX market commences a new in Hong Kong and Tokyo, creating a 24-hour economy. As such, the forex market requires careful monitoring as world currencies change regularly.

                    Trading in the forex market is a legal endeavor in most countries in the world as traders only need to have a registered broker to take part in the trade.

                    Identifying a reliable forex broker is significant for your success in the international currency market as they create a platform for you to trade.

                    Forex brokers act as middlemen, facilitating trades by allowing its users to access the 24-hour market to conduct trades.

                    Every year, our team of trusted researchers examines the biggest names in the foreign exchange market to assemble the best forex brokers for CFDs and forex trading. Our findings for 2020 include:


                    As an Israeli fintech company, eToro is a well-established social trading broker that offers a good fit for amateur traders who have limited time to learn the ropes of forex trading.

                    Founded in 2007, eToro’s explicit attention on copy and social trading has fortified rapid growth that now prides itself on having more than 10 million customers globally. The trading platform also offers exchange services in the cryptocurrency sphere.

                    One of the main features of eToro is the ease of performing and implementing copy trading. eToro hosts numerous traders who follow risk-control regulations and who want to be copied, allowing retail account holders to copy their trades and trading strategies to make profits.

                    Copy-trading, as a trading strategy, does not guarantee profits or losses.

                    Opening an account on eToro requires 200 US dollars from the trader, with the withdrawal fees landing at 5 US dollars.

                    Advantages of eToro

                    • Robust charting
                    • Detailed cryptocurrency catalogue
                    • An excellent social and copy-trading platform

                    IQ option

                    Owned and managed by IQ Options Europe, IQ Option is an online forex trading platform that is based in Cyprus that allows traders to trade a wide assortment of financial assets. EFTs, stocks, binary options, commodities, forex pairs, and cryptocurrencies are some of the financial assets present on IQ option.

                    Advantages of IQ option

                    • Offers 24-hour withdrawal processing
                    • Allows a minimum deposit of 10 US dollars
                    • Offer a free Demo Account that avails 10,000 US dollars in virtual money
                    • Has an easy to use trading platform
                    • Offers over 350 assets that include cryptocurrency, EFTs, forex pairs, options, and stocks


                    As a forex broker that has been in existence for the last 8-years, 24option offers traders quick account verification processes, extensive learning materials, 24-hour customer support, among other fundamental services.

                    24option provides its users over 100 financial assets to trade on its platform, including indices, cryptocurrency, commodities, stocks, and exotic currency pairs. One of the things that make 24option stand out in the fierce market is its multilingual customer support webpage that is available 24/7, always ready to serve and solve any trading issues.

                    Advantages of 24option

                    • Superior Customer Support Service that offers Multilingual Support on its Sleek Layout
                    • 24option offers Bonuses for Binary Options Trading and VIP programs
                    • 24option has a Wide Array of Assets in its Portfolio with Multiple Platforms
                    • Easy Deposit and Withdrawal Procedures
                    • Charges no withdrawal fees for Diamond and Platinum accounts


                    Markets.com is an easy to use trader friendly forex exchange platform that offers a superior trading experience to its users while offering across the board product selection. Some of the products on offer on markets.com include CFDs, commodities, promising stocks, and currencies.

                    At present, markets.com is operational around the world, with its operations regulated in Africa, Europe, and Australia.

                    Markets.com spreads on forex pairs are relatively expensive as compared to other forex brokers such as IG and CMC Markets

                    Advantages of Markets.com

                    • Trades Forex CFDs without any commissions
                    • Users have a wide range of markets available and currency pairs
                    • Wide range of customer support options and trading tools available
                    • Simple to use and feature-rich trading platform
                    • Easiness in accessing bonus promotions and higher leverage
                    • The mobile app syncs well with the web platform


                    ThinkMarkets is regulated in Bermuda, Australia, and in the United Kingdom. Formerly branded as Think Forex, Think Markets was established in 2010, and it’s known for its efforts in the cryptocurrency sphere.

                    The forex exchange platform offers CFDs and forex traders’ access to over 190 CFDs and 35 forex pairs, including nine crypto CFDs.

                    As a global provider of forex trading and other related financial services, ThinkMarkets puts a lot of emphasis on user security. Incorporating top of the range of online exchange technologies with advanced exchanging platforms and tools, ThinkMarkets is arguably one of the most secure forex platforms in the market.

                    Advantages of ThinkMarkets

                    • ThinkMarkets has an advanced trading platform
                    • Availability of VPS services
                    • Availability of commission-free accounts
                    • ThinkMarkets has strict regulations
                    • Availability of Equinix data centres
                    • Availability of segregated client funds

                    XTB Online Trading

                    Xtb online trading platform accepts a minimum of 250 US dollar deposits on its platform, offering personalized trading experiences to its users with high execution speeds and low spreads.

                    Xtb offers a wide array of trading instruments to exchange across various markets. However, exotic forex currency pairs are few in comparison to other forex brokers.

                    Xtb ensures traders have their peace of mind thanks to its strict regulations and client fund protection policy. Its award-winning xStation five exchange platform is one of the most promising trading platforms offering excellent tools that assist traders with trading.

                    Xtb’s simplicity and superb customer support position them as one of the best trading brokers in the world today.

                    Advantages of Xtb Online Trading

                    • Strict regulations with client fund protection policy
                    • Competitive tight spreads
                    • Offers traders a trading academy
                    • Negative balance protection
                    • Live market commentary
                    • Dedicated personal account manager
                    • Award-winning trade platform
                    • Offers sentiment analysis tools

                    City Index

                    City Index is a world-renowned leading trading platform that offers over 12,000 markets to over 150,000 traders globally. With over 35 years of experience, City Index provides fast and reliable execution speeds to its users.

                    As a robust and well-established trading broker, City Index offers a wide array of trading instruments across multiple markets

                    Advantages of City Index

                    • Strict regulation
                    • Forex Trading signals
                    • Tight spreads with fast execution speeds at low fees
                    • Availability of educational trading academy
                    • Expert market analysis
                    • Negative balance protection
                    • Advanced trading platform with a large selection of trading tools

                    Ava Trade

                    AvaTrade is an award-winning trade platform that has regulations in six jurisdictions. AvaTrade offers 250 plus trading instruments across different markets and trading platforms, offering some of the best-exchanging conditions present in the world with shallow charges.

                    AvaTrade is based in Ireland, with regional branches everywhere in the world, including South Africa, China, Italy, Spain, Australia, France, and Japan. We recommend AvaTrade for UK traders.

                    Advantages of AvaTrade

                    • Strict regulation
                    • No commissions
                    • Award-winning platform
                    • Fixed spreads
                    • Negative balance protection
                    • Fast trade and execution speeds
                    • Hedging and scalping allowed
                    • Availability of social trading platforms
                    • Powerful and flexible trading platforms


                    Founded in 2013, Fortrade is a regulated forex exchange platform that is focused on simplifying accessibility of trading options to every trader. Fortrade accepts a minimum deposit of 100 US dollars on its platform.

                    The user-friendly forex platform offers its users vast amounts of learning materials and market analysis to its traders, making it the right choice.

                    Advantages of Fortrade

                    • Trading central
                    • Strict regulations
                    • In-depth market analysis and information
                    • Availability of vast learning materials


                    EasyMarkets has been in operation since 2001, offering traders globally innovative offers, over 200 global markets, and user-friendly trading platforms.

                    EasyMarkets is an award-winning and established forex trading platform that is under strict regulations.

                    Advantages of EasyMarkets

                    • Inside Viewer
                    • Trading central charting and signals
                    • Offers deal cancellation feature
                    • Negative balance protection
                    • Commission-free accounts
                    • Free guaranteed stop loss

                    Nowadays everyone claims to be the master of Forex trading with so many broker options. Trading forex has seen exceptional growth in the number of forex broker-dealers offering their services in the world forex trading market over the last decade. Forex trading was once a more exotic activity left to banking institutes, importers and exporters, and large multinational companies. However, the intensification of world interaction has made the activity more familiar, commonplace, and attractive for individual traders who are looking for liquid assets and markets to trade within. The Forex market is very diffrent in many ways including its 24-hour schedule and its rapid growth. However, one characteristic really sets it apart from the rest of the world’s financial markets. It is by far the largest market in the world over to four trillion dollars traded daily.

                    As a result of its high trading volume and its easy access to anyone, the Forex market and more specifically the number of Forex brokers is growing faster than ever.

                    A large selection to choose from is always a good thing, however, the large number of available Forex brokers can make the choice that much harder for a new trader. The decision of which broker to choose is a crucial one and one that will strongly affect your trading future and its success or failure.

                    Who are important players are into Forex market?

                    There are many different people, organizations, and top Forex brokers who participate in the Forex trading market.

                    • Banks – Banking institutes makers largest proportion of forex trading, the biggest banks will trade billions of dollars every day. The trading takes place on behalf of clients, but the majority is done by the bank in-house.
                    • Companies – Companies use the Forex market to pay for goods and services from other countries. And also, to sell goods and services in other countries. This is actually a very important part of the daily Forex market.
                    • Central banks/ Governments – Governments and central banks can affect an increase or decrease in their own currencies value, and as such play a very important role in foreign exchange markets. They are also able to stabilize the market by using their large foreign exchange reserves.
                    • Hedge Funds – More than 75% of foreign exchange transactions are speculative. The people buying or selling the different currencies have no real intention of taking actual delivery. The sole purpose of making a Forex transaction would be to speculate on whether the price of a currency is going to go up or down. Large hedge funds have a huge part to play in the currency markets because they control and speculate with billions of dollars every day.
                    • Individuals – When traveling to a foreign country, individuals are participating in the foreign exchange market, when they change up their vacation money while in holiday or buy anything online from another country.
                    • Investors – If an investment firm manages large portfolios on behalf of their clients, the Forex market is used because it allows them to buy and sell foreign securities.
                    • Retail Forex traders – Retail forex traders refer to people like you. This section of the industry is growing each and every day, as more and more people learn about the top online Forex brokers, and get a taste for the excitement and opportunities it brings. There are also many Forex trading platforms that allow the market to be easily accessible via the internet. To access the currency markets, retail Forex traders use the services of a Forex broker or a bank. There are two types of Forex broker – dealers and brokers. Top Forex brokers act as an agent for the retail trader. They try to find the best possible price and execute trades on behalf of their customers. Dealers, on the other hand, act as the counterparty to a retail trader’s transaction. The price they quote is the one they are willing to deal at, and they make their money through the difference between the buying and selling price (spread). Forex dealers are also known as market makers because they make the market for the trader.

                    The benefits of trading the Forex market

                    As with any form of investment, there are disadvantages and advantages of participating. First, we’ll look at the benefits.

                    • Forex trading online means you are free to trade anywhere in the world, provided of course you have a reliable internet connection
                    • Low charges and fees, compared with trading stocks and commodities
                    • There are fewer currency pairs to concentrate on, then the large numbers of stocks and shares
                    • Access is easy and usually only requiring a couple of hundred dollars to get started
                    • Opening hours are Sunday 5 pm EST, to Friday 4 pm EST, which means you can trade whenever you want
                    • Forex is a volatile market, and traders can make a profit whether the market is rising or falling

                    Guide Line To select The best Australian Forex Brokers

                    Australian Forex brokers are best because of the main thing regulation. Australian regulation ASIC is one of the best regulation in the worlds. Before investment fund safety is important in the financial markets. Do you think How to select the best Australian Forex brokers?  We give some guideline for you how to select the best Australian Forex brokers:-

                    • If you are a beginner in the forex market. You should select a Forex broker carefully. Because your heard earn money you will invest in the brokers. If you are confused to select the Forex brokers don’t worry our selected brokers are proper regulated reliable and trusted, So you can select one of our listed brokers for your real trading accounts. Or can check open a demo account.
                    • Brokers good reputation, background history and experience in this Forex market they are operating successfully or not. Look at their last operation history and their present reputation is suitable for your heard money investment.
                    • Trading instrument available for your trading. When you are selecting brokers you should look your prefer trading instrument they are offered for trading or not. You should select broker offer more trading instrument because if have more trading instrument you have more opportunities to trade.
                    • Before selecting brokers you should look at their offers trading platform. The trading platform is the main key to the entry Forex market. So when you are selecting Forex broker you should look brokers offer a reliable trading platform or not. You can find the broker’s website their offers trading platform.
                    • When you are selecting forex brokers you should try to open with the brokers who offer a bonus program. The bonus is the promotion from the brokers. The bonus will help your trading activity easier.
                    • Before you are selecting brokers you should look their offers spreads and leverage. You are trying to find the broker who offers tight spreads if you trade with tight spreads your trading coast will lower. Means your profit will more using tight spread. If the brokers offer high leverage you will trade big of the amount. But remember use high leverage is risky and very dangerous if your open position goes against.  So leverage will be used carefully how much loss you can efforts if the trade goes against you.
                    • You must have good customer support. You check the broker’s website they are offering what type of customers support. In this Forex markets must have live support because during the trading time if you have any problem trading related you should contact immediately broker live support they will solve your problem. So when you are selecting brokers you should check their live support as it for you suitable or not. Most of the brokers are offers Multilanguage. So you check your preferable language they are an offer or not. So you can check the broker then you will choose the brokers who can serve you the prefer language support.


                    While traders tend to blame brokers for their losses, traders have the responsibility of choosing the right forex broker for their trading activities.

                    A trader needs to conduct in-depth research before settling on a broker and opening an account.