5+ Best Forex Brokers in the World 2020
We are going to help you to find best forex brokers in the world. There has never been a better time to get into trading than now. There are a plethora of options as regards selecting a broker for anyone out there, irrespective of the size of the account you want to run. Unfortunately, an abundance of options also means that there are also a lot of scam brokers who don’t have your best interest at heart. That is why you have to be careful when choosing a broker to go with.
Recommended: BDSwiss
- Minimum Deposit: $100
- Max.Leverage 1:500
- Spread from 0.1 Pips
- Platform: MetaTrader 4, MetaTrader 5,
- Trading instruments: 50 + Currency pairs, 140+ CFDs, 20 Crypto Currencies
BDSwiss is one of the best broker offer cheapest spread with no commission at all. It is regulated by Europe (CySEC). BDSwiss offers a wide range of deposit methods including credit cards, bank transfers, Sofortüberweisung, Skrill and many more. The average spread 0.0 to 1.5.
Account Types
- Standard Account
- cTrader Account
- Raw Spread Account
- Islamic Account
Account Features
- Allows scalping
- Allows hedging
- Offers STP
Payment Methods
- Bank Wire
- Credit Cards
- Skrill
- Neteller
- Paypal
- FasaPay
- Bitcoin
- Bpay
1. ICMarkets
- Minimum Deposit: $200
- Max.Leverage 1:500
- Spread from 0.1 Pips
- Platform: MetaTrader 4, MetaTrader 5, cTrader
- Trading instruments: 60 Currency pairs, 215 CFDs, 10 Crypto Currencies
IC Markets is known to have some of the lowest fees in the business. The fee structure varies depending on the type of account you have and the currency pairs or commodities you trade. The average spread for EUR/USD is 0.1 while USD/CAD is 0.6, the other currency pairs fall somewhere in-between.
Account Types
- Standard Account
- cTrader Account
- Raw Spread Account
- Islamic Account
Account Features
- Allows scalping
- Allows hedging
- Offers STP
Payment Methods
- Bank Wire
- Credit Cards
- Skrill
- Neteller
- Paypal
- FasaPay
- Bitcoin
- Bpay
2. Forex Time (FXTM)
- Minimum Deposit: $10
- Max.Leverage 1:1000
- Spread from 0.1 Pips
- Platform: MetaTrader 4, MetaTrader 5
- Trading instruments: 59 Currency pairs, 5 Metals, 14 CFDs, 4 Crypto Currencies
FxTm is one of the leading forex brokers out there. They launched in 2011 and are based in Cyprus. They are regulated by several financial institutions in different countries, like the FCA, CySEC and FSCA. That tells you that they are indeed trustworthy.
Account Types
- Standard Account
- Cent Account
- Shares Account
- ECN Account
- ECN Zero Account
- FXTM Pro Account
- Islamic Account
Account Features
- Allows scalping
- Allows hedging
- Offers STP
- Offers Negative Balance Protection
Payment Methods
- Bank Wire
- Credit Cards
- Skrill
- Neteller
- PerfectMoney
- WebMoney
- Bitcoin
- Qiwi,Yandex,Dixipay,Tcpay etc
3. FBS
- Minimum Deposit: $5
- Max.Leverage 1:3000
- Spread from 0.0 Pips
- Platform: MetaTrader 4, MetaTrader 5
- Trading instruments: 35 Currency pairs, 4 Metals, 3 CFDs
FBS is a huge forex broker in Asia founded in 2009. They have offices across Asia and are regulated by the IFSC in Belize. FBS lets you deposit a minimum of $1 and they offer a maximum leverage of 1:3000; the highest in the industry.
Account Types
- Standard Account
- Micro Account
- Cent Account
- ECN Account
- Zero Spread Account
- Islamic Account
Account Features
- Allows scalping
- Allows hedging
- Offers STP
Payment Methods
- Credit Cards
- Skrill
- Neteller
- PerfectMoney
- WebMoney
- BitWallet
- SticPay
4. OctaFx
- Minimum Deposit: $100
- Max.Leverage 1:500
- Spread from 0.1 Pips
- Platform: MetaTrader 4, MetaTrader 5,cTrader
- Trading instruments: 28 Currency pairs, 4 Metals, 3 CFDs10, 3 Crypto Currencies
OctaFx was founded in 2011 and regulated by CySEC (Cyprus Securities and Exchange Commission). OctaFx lets you deposit a minimum of $5 for a maximum leverage of 1:500.
Account Types
- Micro Account
- Pro Account
- ECN Account
- Islamic Account
Account Features
- Allows scalping
- Allows hedging
- Offers STP
Payment Methods
- Credit Cards
- Skrill
- Neteller
- Bitcoin
5. Exness
- Minimum Deposit: $1
- Max.Leverage 1:2000
- Spread from 0.0Pips
- Platform: MetaTrader 4, MetaTrader 5
- Trading instruments: 120 Currency pairs, 4 Metals, 3 Crypto Currencies
The Exness Group was founded in 2008 and is regulated by CySEC, FCA and FSA. You can deposit a minimum of $1 and they offer a maximum leverage of 1:2000. You can trade over a hundred currency pairs.
Account Types
- Standard Account
- Raw Spread Account
- Zero Account
- Pro Account
- Islamic Account
Account Features
- Allows scalping
- Allows hedging
- Offers STP
Payment Methods
- Credit Cards
- Skrill
- Neteller
- PerfectMoney
- WebMoney
- Bitcoin
- SticPay
We will be going over some of the key factors to consider when choosing top forex brokers in world. Let’s dive in.
Reputation of best Forex Brokers in the World
Before you decide to deposit your money with a particular broker, you should do your due diligence and research into what their users are saying about them. You can go check online forums and review websites to see what the general consensus is about a certain broker. Of course, you are expected to take every opinion with a grain of salt, as you know, traders who incur losses are more likely to badmouth their trading platforms than others who are making a killing. But if all you hear about a particular broker is bad, then you should probably stay away.
Spread and Commission best Forex Brokers in the World
Forex brokers have to make money, and they do this through spreads and commissions. By charging a fee on every trade; spread or by taking a percentage of your profits commission. Some forex brokers only charge spreads (plus rollover charges of course), others charge commissions, while some charge a combination of both. If you are going to be doing a lot of trades, then going with a broker that charges a little fee per trade will be in your best interest. If you don’t plan to be a very active trader, the fee per trade might not be so important to you. The idea, in general, is to be able to balance fees, with security and reliability. After all, quality doesn’t come cheap.
Customer Service and Support
Most reputable and best forex brokers in the world provide you with all the tools you need to do what you want, but sometimes, it isn’t enough, and you are going to need their help via customer support. You are better of going with a broker that offers 24/7 customer service or at least 24/5. Also, don’t just take their word for it, before you deposit any money, try to get in touch with their customer service and then you can gauge the quality of their support by how stress-free the experience was.
Regulation and License Top Forex Brokers in World
All top forex brokers should be regulated and licensed by the appropriate governing bodies in their respective home countries. Aside from giving brokers that extra credibility, regulators can also fight on your behalf in the event that you are unfairly treated by a forex broker. So, before going with a particular broker, find out what their home country is and then go on the regulator’s website for that country to see if that broker is listed there.
Payment Methods and Deposit Withdrawal
A forex broker who is serious about their business will have no option but to provide users with ample options when it comes to depositing and withdrawing funds. Alongside providing options, the process of depositing and withdrawing funds should also be fast, and of course, there should be minimal fees involved. When choosing a broker, go through the payment options, and their accompanying fees and see if they work for you before you commit.
Fast Market Execution
Depending on your trading strategy, a minor difference in pips or micro-pips may mean a lot. That’s why it is important to go with a forex broker that will execute your trade at exactly the value you dictate or at least a few micro-pips shy alert
Margin and Leverage
Depending on your forex broker, you can access varying degrees of leverage with your margin account. As an example, if your broker allows leverage of 50:1 or a margin requirement of 2%, you as a trader will be able to hold a position worth $50,000 with a deposit of only $1,000!
Currency Pairs Top Forex Brokers in World
You may be savvy when it comes to trading a particular currency pair, but should an opportunity arise elsewhere or you decide to diversify your portfolio, you will need a broker that offers as many currencies pairs as possible, especially ones with minor and exotic currencies. Another area to look into is cryptocurrencies. Going with a forex broker that lets you trade a variety of cryptocurrencies is a huge advantage.
