Posted on

The Best Forex Brokers in 2020

Are you looking for the best Forex broker in the world? The offered ranking consists of the most popular, biggest, legitimate, and reliable international forex brokerage companies. Here is the top 5 list you should consider for making the final choice.

InstaForex 

InstaForex is both a CFD and forex broker with more than 7 million customers worldwide. Its major mission is to ensure that traders can benefit from excellent trading opportunities. While trading with InstaForex, you don’t have to worry about the security of your assets. As soon as you create an account with the broker, you are provided with complete protection of your financial and personal data. Here are some other benefits you should know about:

Deposit: An initial minimum deposit of $1 needs to be made via electronic payment systems, $50 via card and $300 through the bank.

Spread: A minimum spread starts from 3 pips.

Trading platforms: MetaTrader4, WebTrader, and IFX Option Trade.

FXOpen

FXOpen is a Forex broker that has been operating since 2005. To execute trades with FXOpen, traders and investors will need to sign up for a valid account. There are different account types with various specifications to address each customer’s respective needs. The available accounts include the micro, STP, crypto and ECN options. With its resiliency, FXOpen has turned into an international brand with a presence across the world. Its expansion has made it adjust to specific changes such as currency and language options. Also, the broker has licenses from the different countries it operates from and has been granted by the relevant regulatory bodies in the covered regions. These regulatory bodies require some measures to be implemented, including the safety of customers’ funds.

Deposit: The minimum deposit is estimated at $1 for the micro account.

Spread: A minimum spread starts from 3 pips.

Trading platforms: Meta Trader4 and Meta Trader5.

Alpari

Alpari is a very credible online broker with reasonable offers and features to their customers. Over the last two decades, it has turned into a global brand spreading its tentacles to every region of the world and expanding its customer base. With traders and investors who want to partake of the excellent product in forex trading, it has been important for the company to act big and attract even more customers. They have managed to succeed in those things by getting the right personnel who can offer professional services. The company is credible with the proper licenses issued by the authoritative bodies of New Zealand. If you decide to join this online broker, you will need to create a demo and standard accounts.

Deposit: The minimum deposit is estimated at $100 and can also be used as the initial capital in executing trades.

Spread: Narrow spreads starting from 0 pips.

Trading platforms: Meta Trader4, Meta Trader5, and Alpari Mobile Platform.

FxPro

FxPro is one of the biggest Forex brokers spreading to 150 countries around the world. Due to its excellent customer relations and also the lucrative promotions, it managed to collect lots of rewards for the best trading conditions. With a loyal customer base, they offer reliable customer support addressing customer’s needs. What’s good is that FxPro is in compliance with the legislation set in the countries it covers. Also, FxPro has a host of trading accounts under its banner that makes it possible for every customer to sign in to trade. Each type of trading account is marked with unique features developed to address the respective different clientele’s tastes and preferences.

Deposit: The minimum deposit requires 500 units of your base currency.

Spread: Narrow spreads reaching 2 pips.

Trading platforms: MetaTrader4, MetaTrader 5, Ctrader and FxPro edge.

Lite Forex

Lite Forex is an online broker focusing on small-scale traders. It provides very flexible trading terms and conditions during its conception period. This concept makes them very popular as it acquired many customers across the world. Lite Forex has been in the market for over a decade so that it has enough to demonstrate for this time. The rapid growth has resulted in revisiting its strategies and further modifications. This can be viewed in the presence of social trading, crypto trading and also its Islamic trading. Generally, Lite Forex is a very trustworthy company that has the right documentation in licenses in the areas it conducts its operations. These licenses come from the authoritative bodies, which puts a lot of emphasis on the protection of clients’ funds.

Deposit: The minimum deposit of $10 is required for trade execution.

Spread:  A minimum spread starts from 2 pips.

Trading platforms: MetaTrader4, MetaTrader5, and Mobile Platforms.

Wrap Up

Every trader and investor should consider several aspects while choosing a Forex broker because a wrong decision might lead to heavy loss. Loyal brokers provide users with lots of useful resources, low trading costs, and educational materials. These brokers will manage the traders and investors’ funds by helping them open an account. Check the list above to find the right option.

Leave a Reply

Your email address will not be published.