Best Forex Brokers 2020

Best Forex Brokers 2020

     Are you looking to speculate that the Euro (EUR) currency will go up in value against the US Dollar (USD)? If so, you will want to trade (or spread bet) the EUR/USD currency pair. The forex market is the largest and most liquid market in the world, representing every global currency with trading conducted 24 hours a day, five days a week.

    To trade forex, you need an online broker. 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 you have. Understanding your investment style can help determine which fx broker will be best for you.

    Each year, our team here at spends five months testing the biggest names in foreign exchange and assembles a guide to the best forex brokers for forex and CFDs trading. Here are our findings for 2020.

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 69-78% 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 for 2020

    After five months of testing 30 brokers, here are the best forex brokers in 2020.

    • IG - Best Overall
    • Saxo Bank - Best VIP client experience
    • CMC Markets - Best web platform, most currency pairs
    • Dukascopy - Well-rounded offering
    • TD Ameritrade FX - Excellent trading platform, US only
    • City Index - Excellent all around offering
    • - Great platforms and pricing
    • XTB - Best customer service, great platform
    • FXCM - Well-rounded offering

    Best Overall - Visit Site

    Regulated and trusted across the globe, IG offers traders an extensive list of tradeable products, excellent trading and research tools, industry-leading education, and competitive rates. This fantastic all-round experience makes IG the best overall broker in 2020. (76% of retail investor accounts lose money) Read full review

    Saxo Bank logo 

    Best VIP client experience - Visit Site

    For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade. (71% of retail investor accounts lose money). Read full review

    CMC Markets logo 

    Best web platform, most currency pairs

    Through its offices regulated in major global financial centers, CMC Markets offers traders a wide range of financial products with excellent pricing and its Next Generation trading platform, which is packed with innovative trading tools and charting. Read full review

    Dukascopy logo 

    Well-rounded offering

    Thanks to its JForex platform suite, Dukascopy provides forex traders industry-leading trading tools and market research, which includes our favorite mobile app for 2020. Drawbacks include terrible customer service and a narrow offering of tradeable markets. Read full review

    TD Ameritrade logo 

    Excellent trading platform, US only

    With nearly 80 currency pairs to trade alongside a plethora of trading tools and research, TD Ameritrade’s thinkorswim platform provides US-based forex traders a winning experience. Read full review

    City Index logo 

    Excellent all around offering - Visit Site

    Beyond its extensive range of products, multi-asset traders confidently choose City Index for competitive spreads, great platform options, premium research tools, and reliable customer service, all under the backing of GAIN Capital, which is one of the largest retail brokers globally. (74% of retail investor accounts lose money). Read full review logo 

    Great platforms and pricing - Visit Site delivers an excellent trading experience for forex and CFD traders across the globe. With competitive pricing, full-feature trading platforms, comprehensive market research, and a robust mobile app, caters to traders of all experience levels. (73% of retail investor accounts lose money). Read full review

    XTB logo 

    Best customer service, great platform - Visit Site

    As a trusted multi-asset broker regulated in several major financial centers, XTB provides a well-rounded, competitive offering. Highlights include outstanding customer service and the xStation 5 trading platform, which delivers a great experience. (79% of retail investor accounts lose money). Read full review

    FXCM logo 

    Well-rounded offering

    While its range of tradeable markets is narrow and pricing is just average for everyday trading, FXCM caters to multiple trader types. High-volume traders, algorithmic traders, and, overall, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a good fit. Read full review

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