Top 10 forex brokers in the world 2020

Top 10 Forex Brokers in The World 2020

The year 2020 has been a lucky year for all the forex brokers. Due to the scenario created in the year, everybody preferred to work online. Many fake brokers exploited this situation. Those who do not have been good in reputation spent money on advertisements. This confused the innocent and the simple people. They were unable to distinguish between the true and the quack one. That is why people need to get awareness about the real forex broker. This content has an overview of the top 10 forex brokers in the world (2020).

List of top 10 forex brokers in the world 2020

In the year 2020, many well-known brokers were kicked out from the top 10 list. It created a race for brokers.  Only a few were able to maintain their position or attain a high ranking worldwide. The following brokers are among the top 10 forex brokers in the world 2020.

1. CMC Markets

CMC Markets needs no introduction.  It was founded in 1989. 

  • Regulation: It is regulated by the Financial Conduct Authority(FCA)
  • Minimum Deposit: $ 0
  • Min. Deposit: $100
  • Max. Leverage: 1:500
  • Trading Platforms: MT4, MetaTrader 5, Webtrader
  • Asset: CFDs, Spread betting, Forex, Cryptos, Commodities, Stocks, Treasuries, and Custom indices

Pros and Cons

  1. It offers a wide range of financial instruments.
  2. A top-tier financial authority regulation.
  3. Excellent services.
  4. The spread rate is high for the CFDs.

2. IG

This broker is working since 1974. 

  • Regulation: FCA (UK), CFTC, and NFA( U.S.A)
  • Min. Deposit: $0
  • Max. Leverage: 1:50
  • Trading Platforms: MetaTrader 4, Progressive Web App, and L2 Dealer
  • Assets: CFD, Forex, Crypto, Stocks, Digital Options, Futures, and Options

Pros and Cons

  1. Variety of financial instruments
  2. 2 top-tier financial authority regulations.
  3. Good trading platform
  4. Allows U.S Clients
  5. High spread charges for CFDs
  6. Not too much flexible for U.S clients

3. Pepperstone

This company was founded in the year 2010.

  • Regulation: FCA (UK) and ASIC(Australia)
  • Minimum Deposit: $0
  • Max Leverage: 500:1 in ASIC, 30:1 in FCA region
  • Trading Platforms: MetaTrader4 and MetaTrader 5
  • Assets: CFDs, Forex, and Cryptos

Pros and Cons

  1. Range of financial products
  2. 2 top-tier financial authority regulation
  3. Good customer services
  4. Robust trading software
  5.  Lower spread rate  
  6. Does not allow U.S clients

4. Avatrade

This company has been working since 2006.

  • Regulation: Central Bank of Ireland
  •  Min. Deposit: $100
  •   Max. Leverage: 1:400
  •  Trading Platforms: MT4, MetaTrader 5, Webtrader
  •  Asset: CFD, Forex, Crypto, Stocks, and Options

Pros and Cons

  1. Excellent trading platforms
  2. Great research tools 
  3. Low offerings of assets
  4. Customer services are not very good

5. XTB

This Polish forex broker was founded in the year 2002. 

  • Regulation: FCA (UK)
  • Min. Deposit: $0
  • Max. Leverage: 500:1 (for non-UK) and 30:1 (for UK)
  • Trading Platform: MetaTrader4, XStaion5
  • Assets: Forex, CFDs, Commodities, Stocks, ETFs, indices, and Cryptocurrencies

Pros and Cons

  1. Lowest Spreads on pairs 
  2. Good offerings
  3. Top-tier financial authority regulation
  4. No copy trading 
  5. High spreads on CFDs and stocks

6. Saxo Capital Markets

This Danish broker was founded in 1992.

  • Regulation: FCA (UK)
  • Min. Deposit: 500GBP
  • Max. Leverage: 200:1 (for non UK) and 30:1 ( for UK)
  • Trading Platform: SaxoTraderPRO, SaxoTraderGO
  • Assets: FX pairs, CFDs, Indices, Mutual Funds, ETFs, Bonds, Stocks, Commodities, Vanilla Options, and Cryptocurrencies

Pros and Cons

  1. Excellent trading platforms
  2. A great variety of instruments
  3. A top-tier financial authority regulation
  4. Research is excellent
  5. Does not accept U.S clients
  6. No  use of MetaTrader4

7. Plus500

The foundation year Plus 500 is 2008.    

  1. Regulation FCA (UK)
  2. Min. Deposit: $100
  3. Max. Leverage: 1: 300 (for non-UK) and 1:30 for UK
  4. Trading Platforms: PLUS 500 trading platform.
  5. Assets: CFD, Cryptos, Forex, Stocks, and Options

Pros and Cons

  1. Lower spreads
  2. The trading platform is impressive
  3. Education and Research are of B Grade
  4. Customer services are poor. Phone support is not available

8. FXTM

The company is known as “Forex time”. It was introduced in 2011.

  1. Regulation: FCA (UK)
  2. Min. Deposit: $10
  3. Max. Leverage: 1:200
  4. Trading Platforms: MetaTrader4, Desktop Trading platform
  5. Assets: CFDs, Commodities, Cryptos, Forex, and Stocks

Pros and Cons

  1. Top-tier financial authority regulation
  2. Education is excellent
  3. Research tools are good
  4. High fees on Stock and CFD
  5. Limited products

9. Swissquote

This Swiss broker has been working since 1996.

  • Regulation: FCA (UK) and FINMA
  • Min. Deposit: $1000
  • Max. Leverage: 1:20 to 1:30
  • Trading Platforms: Advanced Trader, MetaTrader4, MetaTrader5
  • Assets: Stocks, Forex, CFDs, bonds, and Cryptos

Pros and Cons

  1. Good product offering
  2. Top-tier financial authority regulation
  3. The mobile platform is poor
  4. Research is also of average quality

10. TickMill

This broker was founded in 2014

  • Regulation: FCA (UK)  
  • Min. Deposit: $100
  • Max. Leverage: 1:20 for CFD to 1:30 for Forex
  • Trading Platforms: MetaTrader4
  • Assets: Currency pairs, CFDs on Stock indices, commodities, and Bonds

Pros and Cons

  1. Low Spread and fee
  2. Top-tier financial authority regulation
  3. Range of tools
  4. Limited products (contains only 80 assets)
  5. Do not offer Stocks
  6. Only MetaTrader4 as a trading platform

Verdict

These were the top 10 forex brokers in the world 2020. Every broker is not suitable for everyone. Therefore, it is a need to recognize yourself. Take notice of your trading style, investment, and patience level while choosing a broker.  

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