10 Best Forex Trading Brokers List 2020 - Highly Recommended
Are you a beginner or want to start forex trading? That's why you are looking for a forex broker. Well, here we presented the top forex brokers list, we considered multiple factors. You might be known that the forex market is competitive, and going through the entire broker in the world may give you a major headache. Choosing forex trading brokers might be overwhelming if you don't know which one is perfect for you.
So, our task is to help you out from the dilemma with our well-researched forex brokers list. While checking out the broker, we looked at their regulatory membership, customer service, account details, currency pairs, and trading platforms as these factors are the main criteria to know a broker properly.
You may plan great forex strategies, but without great forex trading brokers, your strategy may fail. However, trading with a broker from our forex broker list may help you apply your desired techniques.
Although, before choosing a broker, you will need to assess your needs first. It would be best if you decided whether you are going to trade a small amount or a significant amount. Besides, you also have to think if you want to make small moves or more significant moves. After you find out all the answers, you may choose the best forex broker from our listed broker. And, then start trading with a small amount first as you will need to understand everything first. When you get familiar with it, you may go for a big hit.
Let's see the criteria we looked at while making a list. You will get the details below. Read on to know them.
Forex Trading Brokers List:
|Visit Broker||Rank||Broker Reviews||Location||Minimum Deposit Amount||Deposit Bonus||Payment System||Rating||Create an Account|
|2||NSW, Australia.||$200||No Bonus||9.99||Real Account Demo Account|
|1||Sydney, Australia.||$100||No Bonus||10.00||Real Account Demo Account|
|3||Basinghall, England.||$100||No Bonus||9.98||Real Account Demo Account|
|5||Sydney, Australia.||$10||No Bonus||9.96||Real Account Demo Account|
|4||Belize, C.A.||$50||15%||9.97||Real Account Demo Account|
|6||Beachmont, Kingstown.||$100||100%||9.95||Real Account Demo Account|
|7||Clare Street, London.||$200||No Bonus||9.94||Real Account Demo Account|
|8||London, United Kingdom.||$1.00||No Bonus||9.93||Real Account Demo Account|
|10||No.1 Orchid Garden Street, Belmopan, Belize, C.A.||$1.00||100%||9.91||Real Account Demo Account|
|9||Limassol, Cyprus.||ECN - $300||No Bonus||9.92||Real Account Demo Account|
|Rank||Broker Reviews||Location||Minimum Deposit Amount||Deposit Bonus||Rating|
To give you a clear idea of what we look at, let’s run down everything.
Most countries with forex traders have commissions, agencies and financial authorities who oversee the market. They make sure that everyone is complying in a way that protects the customers from being swindled.
Reputable companies on our forex brokers list are all regulated.
2. Account Details
As always, the fine print is important when you are looking for forex trading brokers to work with. These are some important things that we took into consideration:
- Leverage and margin
- Commissions and spreads
- The initial deposit
- The ease of deposits and withdrawals
All these things go into making sure that no company, with a bad record of these things, finds itself on the top forex brokers list.
3. The Currency Pairs Offered
There are many currencies available for trade, but only some of them get the most attention. We call them the majors. In your search for forex trading brokers, make sure they offer trades in the currency pairs that interest you.
All the names on our recommended forex brokers list, offer you all the currency pairs that you want, with ease. With several options to choose from, you will not miss out on any trades that have potential.
4. Customer Service
It is not uncommon for a trader to encounter something that does not add up or something that you cannot resolve. Moments like that are when you need support the most. Many forex trading brokers are very good at selling you on their products but are not present when you have a problem.
We checked to see how the members on this forex brokers list treat customers when they have problems and most of them seem to have great reviews.
5. Trading Platforms
The platform is essentially the portal that will allow you to look into the forex exchange markets and stake a claim. Some forex trading brokers have platforms difficult to use or navigate. Always make sure you use platforms that you will not have trouble understanding.
Look out for other things like;
- Custom options
- Order entry types
- Automated trading
- Strategy building
- Trading alerts
Anything that will give you an edge is what these companies on our forex brokers list look for.
Pro Tip: When you can trust your broker, it will give you more time to work on your strategies and analysis. This is what will give you the chance to increase the amount of money you make instead of worrying.
The criteria mentioned above are the top priorities to make the forex brokers list. As you know that success in currency trading depends on the right broker. However, as a trader, you don't need to be worried about research and go for trial and error methods. With the research and test, we have picked all the top forex trading brokers above. You can choose any of those without hesitation and start trading.
However, we also recommend taking the time to check a broker from our forex brokers list because if you're in a hurry, you might get confused. This may put your investment in risk if you don't feel confident with a broker.
However, brokers may differ according to the platforms, transaction costs, etc. So, look for each and every detail we have mentioned and take a note for you. As you ate investing real money, look for the account details first, and compare it with all the forex trading brokers we mentioned earlier.
Next, check out the platforms too, as it will be a trader factor while trading. Find out all the possible info about platforms before jumping into any broker. Though, the forex brokers list is a shortlist for you with all the details.
So, you figure out how much you want to invest, how much fees you are looking to pay, and your goals. Then, open an account to start trading. If you are a beginner, we recommended at the fast start a forex demo trading.