Best Forex Brokers 2020Top 8 Forex Brokers

Below are the best forex brokers in 2020 across each CFD trading categories:

  • Pepperstone – Best Forex Trading Platform
  • IC Markets – Lowest EUR/USD Spread Broker
  • City Index (Forex.com) – Best Bitcoin + Cryptocurrency Broker
  • Plus500 – Best Beginner Demo Account
  • eToro – Best Copy Trader + Social CFD Broker
  • FXCM – Best Forex Trading Demo Account
  • IG Group – Largest Foreign Exchange Retail Broker
  • Interactive Brokers– Best FX Broker For Experienced Traders

Broker Reviewed

IC Markets
Pepperstone
Interactive Brokers
IG
Plus500
Our Rating
8.17
9.17
8.17
6.67
5.83
Best Spread Broker
Most Awarded Broker
Trade CFD and assets
Useful risk management features
Range of risk management tools

Regulations and Licenses

Feature
IC Markets
Pepperstone
Interactive Brokers
IG
Plus500
ASIC (Australia)
FCA (UK)
MAS (Singapore)
Pending
CFTC (U.S.A)
FSCA (South Africa)
Pending
IIROC (Canada)
FMA (New Zealand)

Brokerage

Feature
IC Markets
Pepperstone
Interactive Brokers
IG
Plus500
No Commission Account Spreads From (EUR/USD):
1.0
1.0
0.6
0.6
Commission Account Spreads From (EUR/USD):
0.0
0.0
0.1
Commission (per 100k traded side trip)
USD $3.50
AUD $3.50
USD $1mil = 0.20% (IBKR)
Minimum Deposit
USD $200
$200
$0
$0
$0
Volume Commission Rebates
Has Islamic Account
No Inactivity Fees
Funding Methods
15
16
4
4
3
No Deposit/Withdrawal Fees

Markets and Instruments

Feature
IC Markets
Pepperstone
Interactive Brokers
IG
Plus500
Forex Currency Pairs CFDs
65+
66+
115+
80+
60+
Cryptocurrency CFDs
10+
4+
5+
10+
Index CFDs
16+
2+
26+
34+
67+
Share CFDs
100+
5+
1000+
12000+
1816+
Commodities CFD
19+
4+
38+
17+
Stockbroking
50,000+
Retail Maximum Leverage
500:1
500:1
14:1
200:1
30:1
Professional Maximum Leverage
500:1
500:1
200:1
300:1

Trading Platforms + Tools

Feature
IC Markets
Pepperstone
Interactive Brokers
IG
Plus500
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automatic / Robot Trading
Social + Copy Trading
MetaTrader 4 onliy
Standard Stop Loss
Guaranteed Stop Loss Order
Guaranteed Negative Balance Protection
ESMA regulated territories only
ESMA regulated territories only
ESMA regulated territories only
ESMA regulated territories only
Demo Account
Unique Feature 1
ECN pricing
Smart Trader Tools
125 Markets, 31 Countries, 22 Currencies
Guaranteed stop loss orders
Trade cannabis index and share CFDs
Unique Feature 2
Range of fee free funding options
Fast Execution Speed
Earn interest on idle cash balances automatically
Choice of Platforms
Guaranteed stop loss trading option

Overall