The main goal of these best forex brokers listed below has always been to assist individuals in making the best decisions possible about how, when, and where they trade and invest. By far, the global foreign exchange (FX) market is the world’s largest and most actively traded financial market. Beginners and experienced traders both search for numerous essential qualities and benefits while looking for the “best” forex broker.
The best forex brokers are selected based on these categories. Given recent market volatility and changes in the online forex brokerage business, unbiased and professional assessments of the best forex brokers for traders of all levels, in all markets are listed below.
CMC Markets
CMC Markets (CMC), is a well-known, publicly listed, and highly-regarded U.K. forex broker. It was founded in 1989 and has effectively adapted to the ever-changing online brokerage scene. CMCX is the ticker symbol for the London Stock Exchange (LSE) company. Like many other forex brokers, CMC does not allow traders from the United States.
CMC Markets caters to a wide range of traders. From the inexperienced retail trader trying to dip their toes into the online trading arenas of forex, CFDs, and spread betting to the seasoned veteran looking for exposure to a diverse range of products. The company’s costs are competitive in the industry. In 2020, the company was named the Best Overall Forex Broker and Best Forex Broker for Range of Offerings by Investopedia.
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Tickmill
The UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority. They all regulate Tickmill, which was created in 2014. (FSA).
Through three main trading accounts dubbed the Pro Account, Classic Account, and VIP Account, the broker offers more than 80 CFD products to trade on. Including Forex, Indices, Commodities, and Bonds. A trial trading account and an Islamic swap-free account are also available.
London Capital Group (LCG)
London Capital Group (LCG), which was created in 1996, has kept up with the fast-paced internet brokerage industry. LCG Trader, the company’s most recent rebranding effort, was launched in 2016. LCG’s whole online offering to the user is comprised of this, as well as the ubiquitous MT4 platform and a complete mobile application.
LCG offers a diverse range of CFDs and spread betting instruments over a wide range of asset classes. LCG, like the majority of the companies on this list, does not welcome US traders.LCG, being one of the largest and best forex brokers in the United Kingdom, offers a diverse selection of asset classes and a smooth trading experience. LCG is well-suited to new traders because of these good characteristics and its apparent concentration on functional simplicity. Aside from receiving great overall ratings, the company was named the Best Forex Broker for Beginners by Investopedia in 2020. Although you don’t have to be a novice to profit from LCG’s services, it’s difficult to beat if you’re just getting started.
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FXCC
FXCC is a joint brand name of FX Central Clearing Ltd, which is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). Including Central Clearing Ltd, which is authorised and regulated by the Vanuatu Financial Services Commission. It was founded in 2010.
Through the widely used MetaTrader 4 platform, FXCC provides clients with access to more than 100 financial materials, including Forex, CFDs for Indices, Metals, Energies, and Cryptocurrencies. ECN XL is a single account type that offers commission-free trading, a $50 minimum deposit, up to 1:500 leverage, variable spreads starting at 0.0, free funding, and more. There are also Islamic and demo accounts accessible.
Saxo Capital Markets
The Saxo Bank Group (Saxo Bank) is based in Denmark. It describes itself as a “leading Fintech expert focused on multi-asset trading and investing and offering ‘Banking-as-a-Service’ to wholesale clients,” having been created in 1992. In 1998, the company took advantage of late-nineties technical breakthroughs by developing one of the first online trading platforms.
Saxo Bank’s subsidiary Saxo Capital Markets U.K. Ltd (SCML) has been operating in the United Kingdom since 2006, and like many other forex brokers, does not allow US traders. The advanced trader should use Saxo Capital Markets. It caters to sophisticated active traders, investors, professionals, and institutions with a wide range of brokerage services. Smaller accounts face a range of unique challenges, including higher account minimums, a variety of fees, and fewer customer service alternatives. Tiered accounts reduce trading expenses and provide additional benefits as equity rises, but most retail traders will struggle to reach the top customer levels. In 2020, the company was named the Best Forex Broker for Advanced Traders by Investopedia.
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XTB Online Trading
X-Trade began as Poland’s first leveraged foreign exchange brokerage company in 2002, but in 2004 it changed its name to X-Trade Brokers to conform with new Polish legislation. It later changed its name to XTB Online Trading (XTB) in 2009 and went public in 2016, trading under the ticker code XTB on the Warsaw Stock Exchange. The company does not accept traders from the United States.
XTB is a good option for traders who want to cut their costs as much as possible, whether it’s the cost of placing a trade or not having to pay extra fees like wire fees. Non-U.K. accounts can obtain up to 500:1 leverage, whereas U.K. accounts can acquire up to 30:1 leverage.
The company prioritizes customer service and provides relevant educational materials and research resources that would be beneficial to a new trader. Investopedia named this organization the Best Forex Broker for Low Costs in 2020.
Pepperstone
Pepperstone Group, founded in Australia, has risen to the top of the online brokerage sector since its founding in 2010. It has been developing a highly competitive and full-featured trading site that concentrates on forex, stocks, indices, metals, commodities, and even cryptocurrencies.
Pepperstone provides simple market access, allowing clients to concentrate on the more difficult process of profitably trading the markets. Pepperstone is great for traders looking for a manageable selection of low-cost options, a variety of user interfaces and account kinds, and quick customer service. Pepperstone was named the Best Forex Broker for Trading Experience in 2020 by Investopedia’s rating system, which took these factors into account.
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