you will need the help of a regulated and reliable forex broker when you decide to start trading in forex trading. however, choosing the best forex broker in the world is a much more difficult task than you think with some of them who provide online trading services today.
The characteristics of a good forex broker should be to provide a reliable and secure trading platform, low spreads, 24-hour customer support, free training tools and resources for novice traders, adequate trading tools and features for experienced traders and an intuitive trading platform. Even with many comments and reactions that are available for most online forex brokers, it is certainly not easy to choose the right one according to your needs.
However, we have simplified a lot for you and have released this list of the best forex broker in the world who are considered to be among the best in the industry and who are confident in providing you with reliable and efficient services.
By going through the information provided here, it should easy for you to select best forex broker in the world or Top 10 Forex Brokers In The World that best matches your needs and expectation levels. Here is the list:
- Xm – Best Overall Broker 2020, Wide Variety Of Trading Tools Instruments, Global Broker Operating In Safe Regulatory Environment
- Hotforex – Different Trading Accounts Are On Offer, Trade Forex With Ultra Low Spreads
- Markets.Com – Multiple Types Of Trading Platforms, Beginner Friendly
- Easymarkets – 300 Plus Trading Instruments, Deal Cancellation Feature, Fixed Spreads.
- Fxtm – Well Regulated, Low Min. Deposit, Tight Spreads.
- Exness – A Variety Of Account Types And Execution Methods, Offers Metatrader 5
This Mauritius-based forex broker is regulated by the FSC (Financial Services Commission) under the trading name of HF Markets Ltd.
To meet the demands and needs of a variety of traders, HotForex provides different types of forex trading accounts. Each of these account types has distinct and competitive trading accounts and can be opened with an amount as small as $5. Besides the regular accounts, HotForex also provides a Zero account , VIP account, and the Currenex account. There’s also a social account through which traders can interact with other traders in discussing news and different strategies.
HotForex provides a wide range of educational tools and technical analysis to help users benefit from their trading moves. Breaking news is also offered by the broker at regular intervals. In all, this forex broker can be tried out by anyone that likes to get forex trading information and news in an organized and clear manner.
Different trading accounts are on offer
Regulated by FSC
Availability of demo accounts
Different modes are available for funding the account and withdrawals
Bonuses and promotions are available in plenty
List of educational tools is huge
Customer support features are available via live chat, phone, and email
Headquartered in Cyprus, XM is a leading forex broker through which investors can also access CFDs, currency trading, energies, precious metals, and equity indices . XM was previously known as XEMarkets and has helped numerous clients realize their goals and achieve their potential.
XM provides its users with two different accounts. One for the beginners that wish to make small profits without taking too many risks and the other for professional traders that have a sound knowledge and experience in the financial markets. Both these accounts require users to make a small initial deposit of $5. For those that are just starting in forex trading, XM provides demo accounts for both the accounts. Each of these accounts is provided with access to MetaTrader4 trading platform.
Born in 2011, this forex broker is currently operational in 120 cities across the world and has successfully helped execute several thousands of trades with almost zero rejections or re-quotes.
Customer-friendly forex broker
It requires only $5 to open an account
More than 100 financial instruments to choose from
No hidden fees or commission
Several video tutorials and webinars in different languages are available on the platform
Bonuses and promotions are available at regular intervals
Customer support is available 24/7 in different languages
Different payment modes are supported
See also: Low Spread Forex Brokers
3. Easy Markets
Established in 2001, Easy Markets also goes by the name ‘easy-forex’. It is regulated in Cyprus by CySEC and is licensed by ASIC in Australia and MiFid in Europe. As of today, the forex broker has offices in Sydney, Shanghai, and Warsaw. It has more than 100,000 active traders on its platform and boasts of more than $1.5 trillion in turnover.
Easy Markets offers a Standard account for which one needs to make an initial deposit of $100. Besides this, the broker offers an Islamic accoun t , especially for those that wish to carry the trade over to the next day without any rolling fee being charged on the same. A free-to-use demo account is available to users when they opt to trade using the broker’s proprietary platform. VIP account holders are entitled to receive SMS alerts and cash rebates regularly.
A welcome bonus of $25 is provided to new traders
There are regular promotions and bonuses on offer
Deposits and withdrawals can be initiated through multiple payment modes
There are plenty of educational materials and programs on offer
Exness is a leading forex broker that was established in 2008. It is regulated by FCA in the United Kingdom and CySEC in Cyprus. Currently, the broker offers two trading platforms – MetaTrader 5 (MT5) and MetaTrader 4 (MT4). Besides offering users with different trading account types, Exness has eight metals contracts and 104 forex pairs on offer to its users.
There are various account types and execution types available with Exness. Depending on your choice, the fees and commission may wary. The broker also offers mobile trading applications for its Android and iOS users. The same can be downloaded from the Google Play Store and the iTunes Store.
A variety of account types and execution methods
Offers MetaTrader 5
Availability of mobile trading options
Different deposit methods like MasterCard, VISA, Skrill, CashU, WebMoney, Bank Transfers, FasaPay, etc.
Different withdrawal options like VISA, WebMoney, MasterCard, Neteller, Skrill, PerfectMoney, Bitcoin, etc.
Support staff can be reached via live chat, phone, and email
FXTM came into existence in 2011 and is also known by the name Forex Time. In a short period, it has been in the market; FXTM has carved a name for itself and even managed to win a few accolades, including ‘Fastest Growing Forex Broker’ and ‘Best Newcomer 2013’. Currently, FXTM has offices spread across different regions of the globe, including Belize, the UK, and Cyprus.
For beginners, FXTM provides a demo account so they can practice before they venture into the real forex market. For professionals, though, there are two trading accounts on offer – Standard and ECN. While the former is further divided into Standard, Cent, and Shares account with each requiring minimum deposits and contract specifications, the latter is divided into FXTM Pro, ECN Zero, and ECN with each of them having different commissions and spreads.
It is not just forex pairs, FTXM also specializes in providing services in financial products like CFDs on spot metals, Commodity Futures, etc. FXTM is known to offer generous promotions and offers to its customers time and again. However, the users need to check their eligibility before applying for the same.
Availability of different trading accounts, including demo account
Regulated by CySEC, FSC, and FCA
A host of webinars and tutorials are provided
FXTM conducts workshops and seminars regularly
Supports credit cards, wire transfers, CashU, Neteller, debit cards, e-wallets, and Skrill for deposits
Customer support is available in multiple languages
Regulated and authorized by CySEC (Cyprus Securities and Exchange Commission), Markets.com operates in the forex industry by the name Safecap Investments Limited. Currently, it has offices spread across Cyprus, South Africa, and Australia. Since its inception, Markets.com has won several awards and recognitions.
Today, when you wish to trade with Markets.com, there are different options available to you, like CFDs, commodities, equities, currencies, stocks, gold, oils, etc. In addition to this, the forex broker offers trading leverages up to 1:300 and competitive spreads to all its non-EU users. To set up an account with Markets.com, all it takes is less than a few minutes. However, for this, users need to submit all necessary documents online.
For the benefit of thousands of traders, Markets.com provides chart analysis , alerts, oscillators, etc. Using these features, traders can predict the behavior of markets accurately and make informed decisions.
Variety of trading accounts on offer
Extensive educational tools
Accessibility of the website in multiple languages
Availability of customer support 24/5 from 21 locations via live chat and email
Wide variety of withdrawal and deposit methods