Top 10 Forex Brokers (you need to know about today)

Get ready for the Top 10 Forex Brokers today. Are you speculating that one currency will rise against another? Thinking of Online trading? Do you want to reap from the spread by investing in Forex trading? Forex trading forms the largest and the most liquid market in the world, representing all the global currencies and trading activities anytime and any day. To start trading online, you have to find the Forex broker that matches your goals. Trading with a reputable broker is paramount for your online success. As a trader, you will develop your trading needs such as the tools you prefer, the platform, or the research requirements you need. Therefore, understanding your specific needs is essential to decide the broker to pick. We have helped you out by listing the top 10 forex brokers active today. But before we begin it is important to know what the determining factors have been creating the list of the Top 10 Forex Brokers today. Why are these 10 the best out of all the brokerages out there?

How many brokerages and forex traders are there?

It is good to know how many brokerages exist. FinanceFeeds has helped us researching the financial market to calculate how many white label forex brokers exist. Their research showed that there were more than 1200 international brokerages active. Every day new brokers are added and some brokerages stop. Therefore it is an estimated number.

How many forex traders are there?
Simon Troy a Marketing Head at made a calculation of the percentage of forex traders exist today. For his calculation, he uses 7.6 billion global populations. We use his methodology with the current world’s population of 7.8 billion in 2020. The on average 1200 brokerages are used by the total active traders and investors in the world today, which are almost 2% of the global population.

Key factors

We have listed the most important factors that we used to create the top 10 list. Before choosing your ideal broker and start online trading, keep these factors in mind.

  • Lowest costs
    Forex fees are not easy to break down. Therefore, we focussed on trading platforms, which offer average fees, minimum account deposits, and standard forex contracts.
  • Best forex trading platforms
    It is important to find your preferred style, instruments, and platform technology that fit your needs. We have looked at the best accessing research tools, latest trends and news provided, the efficiency of placing trades, great analysis charts and fast trading platforms.
  • Best international platforms
    Forex trading is happening across the globe. Therefore, using a platform that gives you quick access to the latest economic news and trading options irrespective of your location is a vital factor in this consideration.
  • Best forex research brokers
    For you to trade profitably, a lot of research is needed in addition to great tools to analyse your market trends. Apart from the news updates and economic calendars, the most advanced platforms offer additional information from their in-house research.
  • Best forex trading apps
    The biggest trading forex brokers have mobile trading apps for their customers. However, there is a difference in the quality of apps. A great app is significant to the broker’s desktop version. A great app should be easy-to-use, bug-free, safe and proving a wide range of features.
  • Best customer service
    Good customer service is a key element of a professional broker.
  • Adherence of the broker to regulations
    In order to avoid scams on trading, it is essential to select a firm that abides by the rules of the authorities. Therefore, all the brokerages in this top 10 are regulated and considered low-risk brokers. It is paramount to use well-known and adequately regulated forex brokers to avoid scams in forex trade. To confirm if a broker is regulated, check their identity by their registration number. The number is mostly found at the bottom of their homepage.

You can also check our article on the Best Trading Apps.

Let’s start the list of the 10 best forex brokers to trade forex and CFDs in 2020!


  1. IG – Veteran under the brokers

IG is one of the veterans in the investment business. IG is overall the best forex and CFD broker in the world. It is regulated by top-tiers around the globe under which the UK Financial Conduct Authority (FCA). It is also listed on the London Stock Exchange (LSE). IG offers its traders a wide variety of tradable instruments, excellent trading platform, industry-leading education and research tools as well as competitive rates. It makes it an all-round international broker.  The best overall broker internationally. For more in-depth details click here.

  1. XTB Online Trading – Top Customer Service

XTB is famous for its professional customer service. It offers clients great options to open an account quickly and start trading without withdrawal and deposit fees for forex. It does, however, asks high fees for stock CDFs. This trading platform does not only offer competitive prices but also multi-digital FX and CFD assets. Its most recognizable features include the great xStation 5 trading platform to give customers a great trading experience. Read XTB’s review.

  1. CMC Markets – Biggest wallet with Forex pairs

It is the best platform for trading the majority of the currency pairs. Four top financial regulators regulate it across the globe. It offers a wide range of financial instruments (10,000). Besides the excellent pricing, it offers the CMC Markets Next Generation trading platform. It is packaged with innovative tools to enhance better trading on the platform.

  1. Interactive Brokers / IBKR – Best international broker

IBKR boasts a wide selection of high regulatory licenses. It is very suitable for professional forex traders, as it offers global exchange-traded products over 7,400 CFDs and at least 105 forex pairs. Generally, this platform will offer you access to more than 125 markets around the globe. With is a transparent pricing arrangement, IBKR Pro and IBKR Lite, it offers both professional and new investors everything they need. Read IBKR review here.

  1. Saxo Bank – Best professional experience

Multiple financial authorities in the world have regulated Saxo investment bank. This Danish platform gives you a real VIP experience. The Saxo Bank offers excellent trading platforms, competitive market pricing, reliable customer service, and brilliant research. The platform boasts more than 40,000 instruments to trade. That said, it requires a minimum deposit of USD $10,000, which is very high. Find out more on Saxo Bank here.

  1. – Great protection and prices is an excellent platform with competitive pricing. It offers you an excellent trading platform where you can trade in CFDs and forex. It is available across the globe, allowing you to trade from anywhere you want. Also, and it has a platform with full features you need to carry out your trade comfortably. It provides comprehensive market research and analysis. If that wasn’t enough, it also has a great mobile app. It is the most suitable platform for traders at all levels.  Get to know all the pros and cons here.

  1. eToro – Best Social CopyTrading broker

eToro is known as the world’s leading social trading company. In addition to their informative website, they provide two user-friendly apps which are tailored to both new and experienced investors. They offer support to inexperienced investors in exchange to a higher price than competitors. eToro is a low-risk broker and offers many features for social copy trading, which allows investors to follow the behaviour and trades of other more experienced investors. This makes investing more interesting, fun and educational for the less experienced. Besides that, eToro offers a wide variety of investment options

  1. City Index – great protection

It is a well-equipped trading platform. Apart from the wide variety of trading instruments, it also offers competitive spreads, advanced trading tools, excellent platform options, and has reliable customer service. The unique thing of City Index is that it operates under the GAIN Capital, which holds the world’s largest retail forex globally. Due to this company structure, you will be protected as a trader and offered low-risk trading by three tier-1 jurisdictions. Find out more on City Index here.

  1. IC Markets – Best for both big and small investors

IC Markets is a reputable online trading broker with customers across the globe. It has a variety of trading instruments across the entire trading market, which provides you with the ultimate platform for your online trading. A broker who strives to see the gap between small retail customers and the big institutions bridged by offering an investment solution that was initially only found with superior investors such as banks. It is regulated by one top tier jurisdiction. Read more about IC Markets here.

  1. Plus500 – Easy broker to start trading

Plus500 is a well-known Forex and CFD trader, with over 2,000 digital assets available to you.  It is a trustworthy broker with five top tier licenses. With a minimum of €100 EUR, you can start trading. It has a professional trading platform, however, their app is quite basic. Plus 500 also provide negative balance protection that ensures investors cannot lose more than they spent on or in the account.

Lastly, forex trading also involves risks. Even the professional forex traders take time to keep up to date with the latest content and keep educating themselves. It is essential to be fully informed to make the best overall choice for you.

So, you have learned about the key factors to keep in mind before choosing your broker and start trading. Is one of these ten brokers your favourite? Let us know what you think!

Not sure if you want to start trading with Forex? Then keep researching other options! Perhaps you are more attracted to trading in Cryptocurrencies. Find our top 10 Cryptocurrency brokers here or read more Cryptocurrency news here!


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