A forex broker is a firm that offers currency instruments for trading. There are many forex brokers available for trading, but it can be challenging for new investors to find a suitable broker. An investor needs to consider multiple factors before choosing a broker, such as the fees they charge, market coverage, regulations, history of the company, customer service, and much more. We have created a list of the best-regulated forex brokers and the services they offer to help you choose a suitable broker for trading. Check out this post to find the best forex brokers in the world.
Founded in 1989, CMC Markets is a well-established forex broker in the United Kingdom that adapts easily to the changing brokerage landscape. Listed on the London Stock Exchange under the symbol CMCX, it is available for all types of traders, except the ones from the United States. Suitable for the novice as well as experienced traders, CMC offers services at competitive charges in the industry and ranks high on the list of best forex traders.
Regulated by the FCA, United Kingdon, it offers an extensive range of features and emphasizes education and customer services. It offers leading research amenities and high security for user accounts. However, the CMC markets do not accept clients from the United States.
IG – Best for US Traders
Founded in 1974, the IG is a part of IG Group Holdings and the first spread betting firm in the world. Unlike CMC markets, IG accepts forex traders from the United States. IG has emerged as a market leader in online trading and has over 178000 global clients. It offers an advanced web trading platform and comprehensive learning material for new traders. In addition, it provides comprehensive tools for research and real-time data for stocks to make trading easy for users. It provides more than 80 currency pairs to US traders.
London Capital Group
Established in 1996, the London Capital Group has continued to keep up its promise in the competitive online brokerage space. The company’s rebranding occurred in 2016 with the LCG Trader launch. It offers the MT4 platform and a fully functional mobile app that helps users to trade with simplicity on their smartphones.
The company emphasizes customer service and offers enhanced protection for client accounts. As one of the major forex brokers in the UK, LCG offers a variety of asset classes to users for a seamless trading experience. The company ranks high on the list of best customer service, and the fees are also competitive in the forex broking industry. LGC is perfect for new traders as its functionality is simple and easy to understand for beginners. If you are a beginner in forex trading, it would be difficult to find a broker better than LCG.
Established in 2006, AvaTrade has extensive trading tools that have assisted traders in their daily trading since its inception.
Over time, this broker has become one of the top forex brokers recommended by most traders. They mainly focus on trade copies using software like DupliTrade, MQL5, and ZuluTrade.
If you don’t know what the copying process is, you can choose a professional operator and do the same. So for a monthly subscription, you can copy your commercial offers.
XTB Online Trading
XTB Online Trading is one of the largest and most popular forex brokers in the forex market around the world. XTB is regulated by several recognized agencies such as the Financial Conduct Authority and is known for its level of security.
With access to over 1,500 global markets such as commodity exchanges, cryptocurrency markets, and currency markets, XTB is a trader’s, right-hand man.
Over the past 15 years, they have grown to be the best forex broker in the business. The ease of use and top-notch execution speed make their platforms very attractive, especially for newcomers to the world of trading.
FXTM Online Trading
FXTM stood for ForexTime and entered the industry in 2011 as a global CFD and Forex broker. Based in Cyprus and regulated by the Cyprus Securities and Exchange Commission or CySEC, the exchange offers plenty of powerful features for traders.
They are also regulated by several other agencies around the world, such as the Financial Conduct Authority. This high and strict regulation by premium companies has made FXTM a secure and low-risk Forex trading platform.
Interactive Brokers (IBKR) should be seriously considered for professional Forex traders who need to access their accounts at all times. The company is based in the United States and has strong regulatory licenses.
Interactive Brokers’ mobile app, IBKR mobile, offers a number of features tailored to forex traders. The app is compatible with Android, and iOS systems, as well as tablets and supports, watch lists, mobile charts with 70 optional indicators, notifications, and a currency calendar.
Since opening in 2010, the Australia-based Pepperstone Group has grown to become a prominent player in the online brokerage landscape, creating an extremely competitive and comprehensive trading portal focusing on currencies, stocks, indices, metals, raw materials, and even cryptocurrencies.
Pepperstone provides direct access to the markets, allowing the client to concentrate on the complicated task of successfully trading the markets. Pepperstone is ideal for merchants who want a manageable range of low-cost offerings, a variety of interfaces and account types, and efficient customer support.
Investopedia has named Pepperstone as the best forex broker in 2020. Interactive Brokers (IBKR) should be seriously considered for professional Forex traders who need to access their accounts at all moments. The company is based in the United States and has strong regulatory licenses.
Summing Up These are some of the best forex brokers for people who want to invest in foreign currencies. They offer plenty of features to make online trading simple and convenient for users. However, you need to have a secure and reliable payment processor to make payments on these platforms. Choosing any of these brokers for forex trading can open a world of an extraordinary trading experience for new and existing investors.