Finding the best forex trading platform as a beginner can be a difficult process. Don’t worry, we’ve got you covered.
Below, we’ve listed the Top 10 Best regulated forex brokers in 2020, which provides the lowest spreads & commissions, highest leverage, excellent customer support, and fast withdrawals.
Here’s a breakdown of the top 10 best forex brokers in 2020:
- XM – Best Overall Forex Broker For Beginners.
- HotForex – Most Trusted Online Forex Broker.
- FXTM – Best Online Broker For Forex Trading.
- IC Markets – Best Forex Broker With The Lowest Spreads.
- Alpari – Great For Dedicated Forex Traders.
- eToro – Best Forex Broker For Copy Trading.
- BDSWISS – Best Reliable Forex Broker.
- Exness – Best Broker For Forex Investors.
- PaxForex – Best FX Broker For Online Trading.
- RoboForex – Award Winning International Forex Broker.
Below is the list of all the best forex brokers in 2020. We’ve also included the pros & cons of each broker with links to the brokers’ official website.
#1. XM Broker ??
9.6
Pros
- Regulated By ASIC, CySEC and IFSC
- Foundation Year: 2009
- Min. Deposit: $5
- Min. Trade: 0.01 Micro lots
- Max. Leverage: 1:888
- Lowest Spreads: 0.1 Pips on Currencies
- Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
- Zero Commission On All Trades
- A Solid Educational Offering For Beginner Traders With Daily Interactive Live Trading Rooms
- Great Customer Support & Fast Withdrawals
Cons
- No Forex ECN Account
#2. HotForex Broker?
9.3
Pros
- Regulated By CySEC, DFSA, FCA, FSA-SC, FSCA
- Foundation Year: 2010
- Min. Deposit: $5
- Min. Trade: 0.01 Lots
- Max. Leverage: 1:1000
- Lowest Spreads: 0.0 Pips on Currencies
- Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
- Commission-Free Trading Accounts Available
- Great Customer Support and Beginner Friendly
- Lots Of Premium MetaTrader Tools And Indicators Such as AutoChartist
Cons
- Only 56 Shares Are Available
#3. FXTM Broker ?
8.8
Pros
- Regulated By CySEC, FCA and FSC
- Foundation Year: 2011
- Min. Deposit: $10
- Min. Trade: 0.01 Lots
- Max. Leverage: 1:1000
- Lowest Spreads: 0.3 Pips on Currencies
- Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
- Offers Both ECN and Standard Accounts
- Impressive Research and Education Services
Cons
- Traders From USA, Canada and Iran Not Welcomed
#4. IC Markets Broker
9.2
Pros
- Regulated By ASIC, CySEC and FSA-SC
- Foundation Year: 2007
- Min. Deposit: $200
- Min. Trade: 0.01 Lots
- Max. Leverage: 1:500
- Lowest Spreads: 0.0 Pips on Currencies
- Trading Platforms: cTrader, MT4, MT5, Android, iOS, Windows & Mac OS
- Commission-Free Trading Available
- Raw Spread Accounts With Institutional Grade Liquidity Available
- Impressive Library Of Educational Material and Videos
Cons
- Beginner Traders May Be Overwhelmed By the Choice Of Markets and Platforms
#5. Alpari Broker
9.1
Pros
- Regulated By FSC
- Foundation Year: 1998
- Min. Deposit: $5
- Min. Trade: 0.01 Lots
- Max. Leverage: 1:1000
- Lowest Spreads: 0.1 Pips on Currencies & 0 Pips on ECN Accounts
- Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
- Both ECN and Standard Accounts Available
- Access the Alpari Copy Trading Programme
- Wide Range Of Trading Accounts, Some Offering Commission-Free Trading
Cons
- Non-Existent Research Tools
- Traders From USA, Canada and Iran Not Welcomed
#6. eToro Broker
8.8
Pros
- Regulated By ASIC, CySEC, FCA and MiFID
- Foundation Year: 2007
- Min. Deposit: $200
- Min. Trade: $1
- Max. Leverage: 1:30
- Lowest Spreads: 1.0 Pips on Currencies
- Trading Platforms: cTrader, Android, iOS, Windows & Mac OS
- Best Overall Copy Trading Broker
- Innovative Trading Platform
- Ability To Earn 2% Management Fee as an Investor Trader
Cons
- Does Not Have The MetaTrader Platform
#7. BDSwiss Broker
8.6
Pros
- Regulated By CySEC and FSC
- Foundation Year: 2012
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Max. Leverage: 1:500
- Lowest Spreads: 1.0 Pips on Currencies
- Trading Platforms: MT4, MT5, Android, iOS, Windows & Mac OS
- Access To Raw Spreads Available
- Commission-Free Trading Available
- Beginner Friendly
Cons
- Best Spread Accounts Require Higher Minimum Deposits
#8. Exness Broker
8.6
Pros
- Regulated By CySEC, FCA, and FSA(JP)
- Foundation Year: 2008
- Min. Deposit: $1
- Min. Trade: 0.01 Lots
- Max. Leverage: 1:2000
- Lowest Spreads: 0.2 Pips on Currencies
- Trading Platforms: MT5, Android, iOS, Windows & Mac OS
- Commission-Free Trading Available
- Impressive Range Of Forex Pairs To Trade On
- 24/7 Customer Support In English and Chinese
Cons
- Only a Selection Of US Stocks Available
#9. PaxForex Broker
8.5
Pros
- Regulated By SVGFSA
- Foundation Year: 2010
- Min. Deposit: $10
- Min. Trade: 0.01 Lots
- Max. Leverage: 1:500
- Lowest Spreads: 0.2 Pips on Currencies
- Trading Platforms: MT4, Android, iOS, Windows & Mac OS
- Commission-Free Trading Available
- Large Range Of Research and Educational Resources
Cons
- No Fixed Spreads
#10 RoboForex Broker
8.3
Pros
- Regulated By IFSC
- Foundation Year: 2009
- Min. Deposit: $10
- Min. Trade: 0.01 Lots
- Max. Leverage: 1:2000
- Lowest Spreads: 0.0 Pips on Currencies
- Trading Platforms: cTrader, MT4, MT5, Android, iOS, Windows & Mac OS
- Beginner Friendly and Good Customer Support
- Regulated Broker With Security and Insurance For Clients Deposits
- Wide Range Of Trading Accounts With Commission-Free Trading
Cons
- Little Educational and Research Tools
