Best Online Brokers in 2020
Whether you are new to forex trading or you consider yourself a professional trader, we've got your back. We all know finding new trading opportunities like best currency to trade, or scouting a nice share trading deal is always interesting, yet challenging.
While you might have a preferred broker and know some of the popular names such as Avatrade, fusion markets, forex.com, etoro, etc. that operate globally, we have seen and heard from our trading community that they are always looking for opportunities to work new stock brokers that bring innovation to finance industry.
Having said that, finding the best forex brokers in 2020 can be a bit tricky, especially with increasing growth rate of trading scams and illegal brokers easy access to advertisement platforms advertisement, you might find yourself in a difficult position to decide which CFD broker or stock broker to use.
Today, almost all of brokerage service providers claim that they are the best online broker but when we evaluate their fees, account opening process, their portfolio and flexibility that they offer to traders such as changing leverage, and such, we have realised that the number of legitimate brokers that you can build a career with are not that high.
Hence, as an Independent reviewing body, we have reviewed around 150 brokers and 31 tier-1 online Brokerage companies, and evaluated their offers, portfolio, markets, payment (Withdraw & Deposit), customer support, trading fees, Education, online trading platform , research, Account Opening process, base currencies, leverages, currency pairs, and many more factors.
What you find below is just a quick list of. You can either go to the consolidated list view or read their in-depth reviews and compare online brokers side by side..
Regulated
Reviewed & Tested by Experts
Verified Agains Scams
AvaTrade
Lowest Trading Fee | Best for FX Trading
3.95
eToro
Zero Commission | Best Online Broker for Social Trading
4.3
IG
Best Online Broker for Professional Traders
4.7
XTB
Low Stock Index CFD Fees
4.57
Pepperstone
(Great User Experience)
4.5
Plus500
Best Online Trading Platform
4.5
MarketsX
Best Trading Platform
4.2
Fusion Markets
0.0 Pips | Best Discount Online Broker (Low Fees)
4.05
AxiTrader
No Minimum Deposit | Best Online broker for FX Forex & CFD
4.35
XTB
Best Broker for Beginners
4.57
Best Countries for Foreign Exchange Trading
When it comes to stock trading or foreign exchange trading, online brokers might ask for different requirements before letting you join their trading platform, and it varies from region to region. Even though having a valid ID, email, and password is always required, you might be asked to present your trading history if you apply for professional accounts.
Depending on where you come from brokers might restrict or provide you with different trading options too. Sometimes even the investment protection they offer might change or for certain regions, even though it is listed that they offer free withdrawal, you might see that the numbner of times that you can request free withdrawal requests may be limited.
Another example: One broker may offers no minimum deposit for one type of account but that account is only available for European union countries and when it comes to their offers for Australian traders or UK traders, the minimum cap changes.
That's why we've created this section and sorted the best online brokers based on their offers in different countries, so you can easily find the one that matches your needs or choose your broker based on where you are based.
Best FX Brokers in Sweden
Minimum Deposit
From: $0.0
Best Forex Brokers in Australia
Commission:
From Zero
Best Online Brokers in UK
Investor Protection
£85,000.00
Best Foreign Exchange Brokers in Middle East
Free Withdrawal Cost
Supports Arabic
Best Brokers in Germany
Commission:
0.0 Pips
Top 10 Brokers in Indonesia
Minimum Deposit
From: $0.0
Best CFD Brokers in Australia
Minimum Deposit
From: $0.0
Best Forex Brokers in Australia
Commission:
From Zero
Best CFD Brokers in UK
Investor Protection
£85,000.00
Best Forex Brokers in UK
Withdrawal Cost
From £0
Best CFD Brokers in Germany
Commission:
From Zero
Best Forex Brokers in Germany
Minimum Deposit
From: $0.0
How to successfully trade online?
Whether you focus on forex trading or Contract for difference, options, stocks, or metals, majority of online brokers offer some sort of educational materials to beginners (Not much for professional traders though). At top 10 best we try to provide you series of articles about investment and trading and support you with materials to boost your knowledge and confidence about online trading, You can find the list of trading guides.
Since crafting good articles takes time and effort, so rather than publishing any material on our blog, our editorial team take the time to research facts and provide you with updated list of brokers for trading, and additionally publish articles that is worth reading, on a weekly/monthly basis. If there is any news on trading market, we will add it here too.
Do Brokers Report to IRS?
Online Trading Essentials.
Online Trading FAQ:
This FAQ section is designed for answering your frequently asked questions about trading.
feel free to contact us and let us know what you need to know, our experienced traders will respond in a short time, and if we receive many similar questions, we will even publish it here to make sure the answers are always updated.
Paying commission or spreads or how many pips per trade is always a hot topic among traders when they discuss the quality of worst and
best cfd brokers.
Obviously Trading fees and non trading fees vary from broker to broker and in general trading fees are pretty easy to understand. When we talk about trading fees of online brokers (for instance
Avatrade fees, eToro Fees, etc.), we refer to fees that you might pay, ONLY when you trade anything and brokers charge you something like:
Commissions
Spreads
Financial Rates
Conversion Fees
etc...
When you decide to trade stocks, options, foreign currency, or thinking of how to but shares, you must remember that there are other costs that are not linked to what you trade.
These fees are called non trading fees. We have seen beginner currency traders and even professional traders to consider these fees such as withdrawal fees, inactivity fees, and such costs when they shortlist
best forex brokers.
It really does not matter who you talk to, Whether your opponents are day trading, or focus on price deviation, to short or long their position, There is always 2 major indicator that they take into account: Technical and/or fundamental data.
to put it simply technical analysis gurus believe that end of the day, everything is translated to price, so all the charts and analysis is used to see PATTERNS that predicts how the stock behaves in future.
On the contrary, fundamental analysis lovers look at the situation from a holistic view and literally study everything. They evaluate economy, industry and financial conditions even the internal processes and management of companies and who calls the shots, their earnings, compensations, expenses, assets, and liabilities are very essential in fundamental analysts.
These two schools of thoughts are both valuable when it coms to evaluating stock price. Don't overlook them, Trading is not gambling.
As a trader who think of crafting a solid trading strategy for Forex trading, you must put into account a couple of important factors. Since every trader's goal and available resources vary from another trading expert, we have generalized the risk-reward ratio and have listed these 3 criteria that every trader should consider:
Time resource required
Frequency of trading opportunities
Typical distance to target
A fresh overview of best trading strategies and their respective risk reward rating is listed below:
Range Trading Strategy: Risk level is hight (5.5/10) - Time investment is fairly high (6/10)
Trend Trading Strategy: Risk level is hight (6/10) - Time investment is fairly high (5.5/10)
Position Trading: Risk level is hight (8/10) - Time investment is Low (3/10)
Day Trading Strategy: Risk level is low (3.5/10) - Time investment is high (8/10)
Forex Scalping Strategy: Risk level is below average (3/10) - Time investment is high (7.5/10)
Swing Trading: Risk level is hight (7.5/10) - Time investment is Low (4/10)
Carry Trade Strategy: Risk level is average (5/10) - Time investment is lowest (2/10)
It's not a tricky question because each broker has clearly shared the countries that they accept trader.
What matters, however, is the investment protection that each online broker might offer or the limitations that they might impose on you, based on your country of origin.
As for European union citizens, all of the
best online brokers that we have listed are regulated and majority of them offer investment protection up to 85000 Pound. You can find the list of brokers in UK as
best uk brokers, or if you are from scandinavian countries you might refer to
Bästa Forex Mäklare that refers to the best Sweden brokers, and finally German brokers can be found via.
In Oceania (Australia and New Zealand brokers have to be regulated by ASIC which is the authority of Australia that is in charge if financial and trading matters. Find the
Best Forex Brokers in Australia here.
can find top australia's brokers
When it comes to Middle east brokers have their establishments for the region and most of them are regulated under Emirate and Dubai's authorities. Arab Nationals are mostly looking for keywords such as
أفضل وسطاء عقود الفروقات for CFD and also for foreign exchange they use
الفوركس or for Forex trading.
The demand for trading in south east asia is pretty high in Hong Kong and Indonesia where you can find regulated brokers as
pialang forex terbaik
May 2020
Article: Online Trading Essentials
WRITTEN BY
Editorial Team
The Definitive Investment Guide
IG: The broker for Experienced Traders.