Top 10 Best Forex Brokers Review 2020 review

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Top 10 Best Forex Brokers Review 2020

Top 10 forex brokers – Forex Trading with a trusted forex broker is very crucial for forex investors. To success in international currency trading markets most importantly Currency traders have specific needs related to choosing the best trading platform.

We selected the top-quality forex brokers only. We have checked the platforms, fees, currency pairs charting tools and educational resources.

CFDs and Forex trading are complex instruments and come with a high risk of losing money as a result 80.95% of retail forex investor accounts lose money when trading CFDs. All Investors should consider whether they understand how CFDs work and whether they can afford to take the high risk of losing money.

Here are our Top 10 of the best forex brokers for you.

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75% of retail investor accounts lose money.$200

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    • Award Winning Broker
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      • Reduced Spreads
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          • Trade FX as Spread , CFDs & FX on MT4
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              • FCA Regulated
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                • Trade all FX & CFD s
                • Advanced Charting
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                    Trading with a trusted forex broker is crucial for success in international currency markets. As a currency trader or investor, you may have specific needs related to which platform, tool, or research requirements should be met. Understanding your investment style can help determine which fx broker will be best for you.

                    Our team here at has assembled a guide to the best forex brokers for forex and CFDs trading. In each individual summary, we highlight why each broker is worth a consideration.

                    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

                    Best Forex Brokers

                    • IG – Best Overall, Most Trusted
                    • Saxo Bank – Best Web Platform, Research
                    • CMC Markets – Best for Low Costs, Active Trading
                    • TD Ameritrade FX – Excellent Trading Platform, US only
                    • – Great All-around, Low Costs
                    • City Index – Well-rounded Offering
                    • XTB – Great Customer Service, Easy to Use Platform
                    • Dukascopy – Best Desktop Platform, Mobile App
                    • FXCM – Well-rounded Offering

                    Top 10 forex brokers review for you.

                    • eToro
                    • xTb
                    • City Index
                    • XM Com
                    • Ava Trade
                    • 24 Option
                    • IG Markets
                    • Trade Com
                    • FXTM

                    Forex has become a giant market in which people come not only to market their currency but also to make this a lifestyle and a business.

                    And to engage in this, one of the most important aspects is the use of the right broker. That one broker, that perfect broker, that is not a fraud and that adapts to your needs and gives you comfort. Therefore, below we bring you small reviews of the best 10 brokers of this 2019. This Forex broker list will give you what to think to make the right decision.

                    Also, through the web you will find a bunch of “top 10 forex brokers” or “the best online forex brokers”, but those just include unknow brokers that are just looking for people to scam.

                    Top 10 Forex brokers list


                    Etoro is an investment market platform or place that is specially made for all those people that trade not just commodities, but currencies and indices online.

                    They have a principal objective, which is to give to each one of its clients, new opportunities for the investors. If we talk about fees, in Etoro there are no charges for trading commissions, however, your income comes from the high margins and some of the fees that usually apply overnight. The minimum deposit of the platform must be made the first time it is used, and it is between $ 50 and $ 1000, in case you have a real account. However, it is something that can vary depending on the country in which you live.

                    Among the remarkable tools, we can find your mobile app. It has a platform for mobile devices, which is unique, here you can trade and also observe your steps while you are operating. Being one of the most popular platforms, it becomes a very safe place to trade; it is registered in Cyprus under license 109/10. And not only that but also associated with Incapsula with the aim of having security on the website, against different attacks.

                    Market com:

                    This is a global CFD and FX broker that was established since 2010. It is a secure platform, which is regulated by the Cypriot Cysec and the South African FSCA. is undoubtedly a world leader when talking about transactions and it is definitely one of the best choices that can be made when choosing a broker. Here you can trade stocks, gold, commodities, oil, CFD and currencies. Its operations are carried out without commissions, with absolutely zero and non-existent rates. It has a Demo account that is available in an unlimited way for those who wish to use it.

                    The platform provides its clients with analysis of graphs, and also indicators, oscillators and the occasional alert provided by the broker.

                    • Regulations: Safecap Investments Limited regulated by CySEC (092/08) and regulated by the FSCA (43906); Tradetech Markets (Australia) Pty Ltd licensed by ASIC (424008). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
                    • Type: Market Maker
                    • Leverage: 1:300
                    • Minimum Deposit: $ 100, € 100 or £ 100
                    • Platforms: Web platform (web, Android and iOS mobiles and tablets)
                    • Headquarters: Safecap Investments Limited is headquartered in Nicosia, Cyprus
                    • US Customers: No
                    • Other instruments: CFDs on metals, energies, indices, commodities, bonds, shares, ETFS, blends, cryptocurrency, IPOs


                    XTB is a well-known broker that is regulated in several financial centers, and also offers the trader a wide range of markets that tend to serve well to operators who are looking to do business based on currency exchange, cryptography, CFD and asset classes. All this is done on its xStation5 platform and also on MetaTrader4, which supports algorithmic operations.

                    It also has a mobile version, which includes most of the functionalities available in your desktop application, with the exception of the ability to create alerts or price notifications. All XTB clients and users can access the tools to trade through. It also includes a news service. It has some security features, which works as a kind of pin to prevent the application from displaying on clocks or widgets.

                    Your customer service is available whenever the markets are open either by phone, chat or by email. They tend to be quick to give the answer for calls, but a little slower by mail.

                    City Index

                    This is a multi-active forex broker, is regulated in the United Kingdom and Singapore, and also offers competitive differentials in different trading platforms. This is a broker that is responsible for meeting the needs of several customers, not only experienced traders but also the beginners, in addition to offering an active program for high volume investors.

                    It has mobile versions for iOS and Android, it also allows easy synchronization between platforms, it also has well-organized menus but with fewer functions and its customization is limited. Its interface is identical to that of the desktop and web programs, this allows it to the user ease of execution and proper management of risks, all while on the move.

                    Like most of the best brokers, it has training courses on how to trade. However, you can only access some of these courses for free, while the others duplicate the research or marketing content and you must pay for them.

                    XM Com

                    This is a forex broker created and founded in 2009. It is necessary to understand that knowing that XM becomes the trading name of Trading Point Holdings Ltd and is a regulated broker. It uses two platforms of MetaTrader, MT4 and MT5, its headquarters is located in Cyprus.

                    This broker is used to exchange more than 400 instruments, including 57 currency pairs and 356 CFD. Here we can find Bitcoin, Litecoin, Ripple, Dash, and Ethereum.

                    • Regulations: Trading Point of Financial Instruments Pty Limited licensed by ASIC (443670); Trading Point of Financial Instruments UK Limited authorised & regulated by the FCA (705428); Trading Point Of Financial Instruments Ltd regulated by CySEC (120/10). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
                    • Type: Market Maker
                    • Leverage: 1:500
                    • Minimum Deposit: $ 5
                    • Platforms: MT4 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet), MT5 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet)
                    • Headquarters: Trading Point Of Financial Instruments Ltd is headquartered in Limassol, Cyprus
                    • US Customers: No
                    • Other instruments: CFDs on indices, commodities, stocks, metals, and energies

                    Ava Trade

                    Founded in 2006, AvaTrade is a platform that has offices in 11 countries and also offers multiple trading platforms that are available for web, desktop, and mobile devices, which are responsible for offering foreign exchange and Forex and CFD options in multiple trading classes and assets, that includes cryptocurrencies.

                    At the same time, it offers third-party commercial platforms, such as ZuluTrade, DupliTrade, and also the popular MetaTrader 4 web and desktop platform. It has variable prices and offers typical floating differentials of 0.7 pips.

                    24 Option

                    24Option is a broker operated by Rodeler Limited, which is an investment firm that has its headquarters in Cyprus. About this broker there is not as much information as it should, without having received good reviews. Here the merchants can access the daily financial news in the 24Option twitter feed, which usually serves as a source of information.

                    On its platform, there is a wide variety of educational videos that also tend to offer up to 10 live webinars per month. Among its tools we find a pip value calculator that shows you exactly what your gain or loss will be depending on the pip movement.


                    It is a broker founded in 2010 in Melbourne and is regulated in Australia and the United Kingdom, as well as having offices in the United States (United States), the United Kingdom (United Kingdom), China and Thailand. This broker processes an average of $ 8.3 billion of daily transactions, all this from April 2019.

                    This offers its clients, AutoChartist, the owners of live accounts, and in this way it provides automatic recognition of patterns and also trading signals.

                    Contains Smart Trader Tools, which is an add-on to MT4 that has tools such as feeling indicators, which is available to customers with an account balance of at least $ 500 AUD.

                    Trade Com

                    Founded in is a firm that offers online operations. The company is headquartered in Cyprus and is also regulated by the financial authorities of the Cyprus Securities. It is a broker that is responsible for providing foreign exchange markets, indexes, commodities, and cryptocurrencies; but this broker cannot trade people from Japan, Canada, and the United States.

                    Your negotiation margin and negotiation costs are average. It is an excellent broker for traders who cannot work with certain brokers in jurisdictions such as the United States, United Kingdom or Western Europe. The platforms they use are industry standard trading platforms, among which MetaTrader 4 (MT4) is included. It also has a wide selection of markets including cryptography, stocks, ETF and Forex and 24/7 telephone support.


                    This MetaTrader broker offers all currency and CFD traders multiple and diverse account options for the MT4 and MT5 platforms. Many of its products are segmented by the type of account; it is a broker that has fair prices and also competitive differentials in its Pro and ECN accounts.

                    This broker offers three accounts in the Standard category and its execution method is instantaneous. This includes the Cent account in which currency and metals trading take place, as well as the standard account, which has lower comparable differentials for currency trading and also has fewer restrictions with respect to the maximum trade size, and the Shares count for CFD as unique shares.

                    But it is necessary to understand that the most competitive offer of FXTM, in terms of negotiation costs, you will find in its other four types of accounts, in which you can include the ECN Account that is commission-based, the ECN MT5, the ECN Zero account without commission and finally we have the FXTM Pro account for all the operators that deposit at least $ 25,000.

                    Forex Pairs Traded

                    While most forex brokers offer impressive-looking selections of currency pairs, not all of them cover minors and exotics. Does the broker offer the markets or currency pairs you want to trade? If you are trading major pairs (see below), then all brokers will cater for you. If you want to trade Thai Bahts or Swedish Krone as the base currencies you will need to double check the asset lists and tradable currencies.


                    • usd/eur
                    • usd/gbp
                    • eur/gbp
                    • usd/jpy
                    • eur/jpy

                    The Aussie dollar ans Swiss Franc, while considered ‘minor’ pairs, are often traded in high volume. You can read more about those here: aud/usd or usd/chf

                    That said, there are brokers out there that will truly go out of their way to cater to their traders’ needs. Some will even add international exotics on request. Such flexibility is obviously a major asset, positively impacting the overall quality of the service.

                    Cryptocurrency pairs are quite ubiquitous nowadays. Crypto/fiat and crypto/crypto pairings are both popular. The massive volatility associated with these products makes scalping a viable strategy for profitable trading.

                    Some traders are in the forex game specifically to trade the crypto volatility. Such operators obviously need a forex broker that features as many crypto pairs as possible.

                    Micro Accounts

                    Not everyone trades forex on a massive scale. In fact, most traders are small-timers. Such forex clients appreciate forex brokers’ micro accounts, some of which have the US Dollar as their base currency.

                    Some forex micro accounts do not even have a set minimum deposit requirement. Such cheap trading options certainly make sense for those looking to dive deeper into real money trading, without risking their life savings.

                    Note however that the spreads/commissions on such micro accounts tend to be quite adverse. It is, however, a cheaper introduction to a complex market (similar to cfd accounts) – and trading for real beats a demo account for a genuine experience.

                    Trading Platforms

                    Forex trading platforms are more or less customizable trading environments. They provide traders with technical analysis tools, live news feeds, diverse order types, automation, advanced charting, and drawing options, etc. Some may include sentiment indicators or event calendars.

                    MetaTrader 4 or 5

                    Integration with popular software packages like Metatrader 4 or 5 (MT4 or MT5) might be crucial for some traders. Many brands offer automated trading or integration into related software, but if you are going to rely on it, you need to make sure.

                    Trading View

                    TradingView is also a popular choice. Some forex brokers allow their traders to trade directly on the world’s top social trading network.

                    Proprietary solutions are often interesting, though in some cases less than optimal. For traders who base their strategies on the use of EAs and VPS, a proprietary platform that does not support such features, is useless.

                    While we are discussing strategies: not all forex brokers support strategies such as hedging, scalping, and EAs.
                    Make sure you understand any and all restrictions in this regard before you sign up.

                    If you want to scalp, see if your broker is a forex broker for scalping.

                    For those who want to trade on the go, a mobile trading app is obviously important. While all forex brokers feature such apps these days, some mobile platforms are very simplistic. They lack all the advanced analysis and market research features, and as such, are hardly useful.

                    Tools & Features

                    From charting to futures pricing or bespoke trading robots, brokers offer a range of tools to enhance the trading experience. Again, the availability of these as a deciding factor on opening account will be down to the individual. Level 2 data is one such tool, where preference might be given to a brand delivering it.

                    Deposits and Withdrawals

                    There are some massive disparities between the costs associated with deposits and withdrawals from one broker to another. Such disparities mostly result from the internal procedures observed by different brokers.

                    At one given broker, it can take as much as 5 times longer to fund an account than at another. The incurred costs differ quite a bit as well.

                    Otherwise, the payment process largely hinges on the accepted money transfer methods.

                    It would make sense for brokers to adopt as many such methods as possible, yet some still fall well short of the mark.


                    Some traders may rely on their broker to help learn to trade. From guides to classes and webinars, educational resources vary from brand to brand. A broker, however, is not always the best source for impartial trading advice. Consider checking other sources too – such as our Trading Education page!

                    Payment Methods

                    The most common methods are bank wire, VISA, and MasterCard. The majority of brokers tend to accept Skrill and Neteller too.

                    Forex brokers with Paypal are much rarer. The same goes for forex brokers accepting bitcoin. We are not talking about bitcoin trading, but actual deposits made in the top cryptocurrency.

                    Proper forex brokers always provide a local-specific payment solution to their target countries.


                    Choosing the ideal broker this 2019 will depend on what you are looking for and the news that the broker can offer you. To make a list of only 10 forex brokers is to stay short due to the immense variety of brokers in the market since there is a tight competition as a product of the desire to be the best, an aspect that favors traders because they have different good quality options waiting for them.