Best Forex Brokers 2020

Top 8 Forex Brokers

Below are the best forex brokers in 2020 across the eight CFD trading category.

  • Pepperstone – Best Forex Trading Experience
  • IC Markets – Lowest EUR/USD Spreads And Fees
  • City Index (Forex.com) – Best Cryptocurrency Broker
  • Plus500 – Best Trading Account For Beginners
  • eToro – Good Copy And Social Trading Platform
  • FXCM – Low Deposit + Best Trading Demo Account
  • IG Group – Largest Foreign Exchange Retail Broker
  • Interactive Brokers– Professional ECN Broker Account

Broker Reviewed

Pepperstone
IC Markets
Interactive Brokers
IG
Plus500
Our Rating
9.17
8.83
8.17
6.67
5.83
Best MT4 Execution Speeds
Lowest Spread CFD Broker
66% of retail investor accounts lose money when trading CFDs
76% of retail investor accounts lose money when
trading spread bets and CFDs with this provider
80.5% of retail CFD accounts lose money

Regulations and Licenses

Feature
Pepperstone
IC Markets
Interactive Brokers
IG
Plus500
ASIC (Australia)
FCA (UK)
MAS (Singapore)
CFTC (U.S.A)
CYSEC (Cypus)

Brokerage

Feature
Pepperstone
IC Markets
Interactive Brokers
IG
Plus500
EUR/USD Avg. Raw Spread
0.13
0.1 Raw Account
0.17
GBP/USD Avg. Raw Spread
0.51
0.4 Raw Account
0.6
AUD/USD Avg. Raw Spread
0.18
0.2 Raw Account
0.3
EUR/USD Standard Spread
1.13
1.1
0.7
0.6
Commissions (USD Base)
AUD/USD$3.50
$3.50
USD $1mil = 0.20% (IBKR)
USD $2mil = 0.20% (IBKR)
USD $5mil = 0.10% (IBKR)
Over USD $5mil = 0.08% (IBKR)
Commission Rebates
Minimum Deposit
AUD/USD $200
USD $200
$0
$450
100

Markets and Instruments

Feature
Pepperstone
IC Markets
Interactive Brokers
IG
Plus500
Currency Pairs
66+
65+
115+
80+
60+
Cryptocurrency CFDs
4+
10+
5+
10+
Index CFDs
2+
16+
26+
34+
67+
Commodities CFD
4+
19+
38+
17+
Stockbroking
50,000+
Retail Max. Leverage
30:1 (FCA)
500:1 (ASIC)
50:1 (DFSA)
30:1 (Cysec)
500:1 (ASIC/International)
33:1
FCA (30:1)
ASIC (200:1)
50:1 (CFTC)
50:1 (DFSA)
30:1 (FCA)
300:1 (ASIC)
20:1 (MAS)
Professional Leverage
500:1
500:1
200:1
300:1

Trading Platforms + Tools

Feature
Pepperstone
IC Markets
Interactive Brokers
IG
Plus500
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automated Trading
Unique Feature 2
Fast Execution Speed
No funding fees
Earn interest on idle cash balances automatically
Range of platforms
Guaranteed stop-loss

Overall