Your first step to becoming a forex trader is to sign up with a forex broker. Trading with top-rated forex brokers is essential if you want to succeed in the forex market. To make it easy for you to choose the best forex broker for your specific needs, we have provided a list of 5 top-rated brokers of the year 2020 according to different parameters including pricing, platform, charting tools, research and many more. In the end, what determines the broker you go with is your investment style and goal. So, let’s quickly start!

City Index

City Index is the top forex and CFDs forex broker operating under the regulatory surveillance of top-tier financial bodies like the UK FCA.

City Index is the best for the rounded offering. Traders enjoy competitive pricing for forex and stock index CFDs. Account opening is fast and easy and there are many accessible high-quality research tools.

A few drawbacks of the company are limited product portfolio offer, high charge for stock CFD fees and their desktop platform is not user-friendly.

Since there is no minimum balance, no withdrawal fee and you only pay inactivity fee after one year, you can check it out.

IG

IG is a regulated broker that’s trusted across the globe. IG provides traders with a broad list of tradable products, great trading and research tools, top industry education, and cheap rates. This great all-round experience makes the company the best overall broker accepting US citizens for 2020.

IG is best for traders who want great and all-round platform experience. They offer technical analysis on charts, integrated signal trading, news streaming, and first-class research tools. Great platform that is readily customizable. Users can generate many workspaces, and content is grouped according to asset classes and market sectors.

Saxo Bank

Saxo Bank is a Danish investment bank established in 1992 for providing online trading and investments. The company is regulated by many top-tier world financial bodies and this includes the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA).

Saxo bank is the best broker for VIP customer’s experience, excellent web-based trading platform, high-quality research tools, and extensive product portfolio. Trading with Saxo Bank is safe because it has an extended track record, a banking experience, and backed by top-tier regulatory bodies.

They have a high minimum deposit balance of 10,000 USD or 500 GBP. Saxo Bank offers great customer experience, interactive and user-friendly chart function and more than 40,000 tradable instruments.

The company is the best broker for competitive all-around pricing due to no extra fees or commissions. Saxo Bank offers discounts for high-volume traders but they’re yet to implement a two-step account login.

The broker is the best for investors and traders that want a great trading platform and solid research.

Forex.com

Forex.com is a forex and CFD broker that provides services to the global audience. The company was launched in 2001. Forex.com is owned by GAIN Capital holding, which is listed on the New York Stock Exchange. Trading with the company is regarded as safe because it is backed by many world top-tier regulatory bodies like the UK Financial Conduct Authority (FCA) and the Commodity Futures Trading Commission (CFTC) in the US. Also, it offers a fantastic forex and CFDs trading experience.

Users also enjoy low forex fees, plenty of tradable currency pairs, high-quality and extensive market research, and a great mobile app. The brokerage is a great option for both novice and experienced traders. However, it doesn’t offer real stocks or bonds trading, it charges high fees for Stock CFD and the desktop platform is user-friendly. Also, you don’t pay withdrawal fee and you’re only charged inactivity fee after one year.

Ameritrade

TD Ameritrade was launched in 1978 and is one of the US largest online brokers. The broker currently charges no commission for stock and ETF trades. It is a reputable broker because it functions under the supervision of top word’s regulatory bodies including the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).

It is the best broker for low trading pricing including no charge for stock and ETF trading, superb desktop trading platform and great customer support.

It is safe to trade with TD Ameritrade because it has an extensive track record, it’s listed on the stock exchange and publicly declares its finances and is backed by top-tier regulators and

TD Ameritrade offers users with extensive research and education resources. The Thinkorswim is one of the best desktop trading platforms you’ll ever find. The downside is high margin rates. It doesn't offer credit/debit cards and electronic wallets for transactions and the product portfolio includes only assets from U.S. markets.

It is best for investors and traders that want great research tools and a full-featured desktop trading platform.

Conclusion

There you have it, the top-rated brokers for 2020. You can trust any of the brokers on the list. However, your final choice will depend on your trading conditions and goals.