Table of Contents
Through really extensive research, we have picked up the 3 best forex brokers. As we always care about your convenience, today our goal is to assist you to make the right decision by opting for the one. You will also get to know when, where, and how to invest and trade.
Without any further ado, let’s have a look at the best forex broker, including the pros and cons of each. So, let’s get started;
#1. CMC Markets – Best Overall
CMC Markets, a U.S.-based forex broker formed in 1989, is unquestionably a publicly listed, well-rated, and long-standing business. It has effectively adapted to the impressive internet brokerage scene. Under the ticker CMCX, the firm is also listed on the London Stock Exchange (LSE). It does not allow traders from the United States, like many other forex brokers.
All types of traders may use CMC, from beginners to seasoned veterans. In this field, the firm’s costs are competitive; in fact, it consistently appears towards the top of several rankings. Overall, it’s the most dependable and trustworthy brokerage, and that’s why it’s so well-liked by traders.
Pros:
- Industry-leading research amenities
- Focuses on customer service & education
- Regulated by FCA
- Extensive variety of offerings
- Offers protection
Cons:
- Difference between MT4 and Next Generation
- Doesn’t accept the U.S based customers
- High CDF spreads, for particular indices
#2. Saxo Capital Markets – Great for Advanced Traders
Saxo Capital Markets is ideal for experienced traders. Traders may make use of a wide range of high-quality brokerage services. Additionally, smaller account holders face a huge number of unneeded impediments, including fewer customer assistance options, higher account minimums, and a variety of fees.
Trading fees are reduced and equity is grown using tier-based accounts. In any case, retail dealers often find it quite difficult to reach the highest echelons of clients. Additionally, Investopedia has named the organization as the best FX broker in 2020.
Pros:
- Superb user interface
- Best research
- Extensive variety of offering
- Regulated by FCA
- Offers customer protection
Cons:
- Doesn’t accept U.S. users
- No MT4
#3. London Capital Group – Perfect for Beginners
LCG (London Capital Group), which was founded in 1996, has continued to operate in the highly competitive sector of brokers, with the most recent rebranding attempts taking place in 2016. It’s a fantastic value for the money!
Known for being one of the finest forex brokers, it has a wide variety of assets to choose from and a pleasant trading environment. There aren’t any fees that are too high or too low for the brokerage sector. The brokerage’s excellent customer service is another reason to use it. LCG is unquestionably an excellent broker for new traders, thanks to its wealth of beneficial features.
Pros:
- Focuses on customer service
- Offers clients account protection
- Regulated by FCA
- Account & trading incentives present
Cons:
- Doesn’t accept U.S. clients
- No back-testing
