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3 Amazing Forex Brokers And Platforms - 2020

Discussion in 'FOREX Forums' started by SK Rimon Hossain, Jan 3, 2020.

  1. SK Rimon Hossain

    SK Rimon Hossain New Member

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    Forex trading has become a common and passive profession all across the globe. People are getting attracted by its popularity day by day.

    So, when it comes to Forex trading there are many things that comes to the attention and one and the most important of them is Forex broker.

    Now, without any further ado, let's dive right into the best Forex brokers and their trading platforms of 2020.

    The first one on the list is IG Group. One of the best Forex brokers of 2020.
    1. IG Group:
    Are you looking to trade in the currency or CFD, IG has been a name in forex trading for over 40 years. With the ability to trade in forex, cryptocurrency, individual equities, stock sectors, and commodities, you can use the IG to almost all in forex.

    Pros
    • There is no minimum account
    • Very trustworthy, regulated by IIROC, FCA, ASIC, CFTC, and the Monetary Authority of Singapore
    • Access to spread traditional broker or using raw spread with the commission model
    Cons
    • Using third-party web applications and sites to research and news
    • educational resources and regular obsolete
    • slow customer service
    While the IG has been around forever and is largely considered as the best place to trade forex because of the data and the number of assets you can trade history, there are some problems that plague older platforms.

    For example, if you are a beginner, you may not like the way the IG operation since the interface is clunky and there are not many such educational resources with other brokers.

    IG has a minimum of 0.6 pips to trade EUR / USD. However, IG great because it allows you to trade in forex, exchange cryptocurrency, individual equity, all sectors of stocks, bonds, and commodities. You can also trade on interest rates through a browser-based mobile platform and them.

    It is also the largest CFD dealers because of the number of its trading revenue. While CFD is quite risky, if you know what you're doing, you might benefit. Most of the UK has a large number of financial spreads in CFD.

    However, the IG has been opened to the US in February 2019. Now it can offer low spreads and generous commissions.

    Now, moving on to the second Forex broker on the list and which is CMC Markets.

    2. CMC Markets:


    As a publicly-traded company with regulators in four tier-one jurisdictions, CMC Markets is a highly secure, low-risk forex and CFD broker. It is also considered the most inexpensive option for forex and active trading.

    Pros
    • very competitive prices for generous commissions
    • product catalog a wide and varied
    • Liquidity rebate offer for active traders who exceed at least $ 25 million in notional trading volume each month
    • guaranteed stop-loss orders available
    • real-time news and advanced order types
    Cons
    • limited security features
    • No copy or a social trading platform
    • US high index for CFD spreads

    CMC Markets may be best for active traders as well as beginners. The platform has a variety of educational resources and tools to help you learn about forex trading and CFD.

    However, it is also great for those who have higher skills in trading and want to take advantage of them for a minimum of 0.7 pips Forex.

    The truth is that CMC Markets has a low spread of the victim with very low trading costs overall. With very competitive prices, average spread for EURO / USD as low as 0.7 pips and spreads typically to 0.81 pips. This is the latest date for October 2019.

    In addition, active traders treated a little better with CMC Markets. You get liquidity rebate ranging from $ 5 to $ 10 million for those trading at a very high level.

    Traders also like the Guaranteed Stop-Loss Order (GSLO) which CMC Markets offer. This means that you can set a risk limit for all of your position, and you are guaranteed to close the trade exactly as you specify.

    While most brokers charge for GSLOs, CMC Market's actual refund this charge for you. You do not need a minimum balance to trade with CMC Markets and offers a VIP discount if you are very active.

    This platform provides you with the charting tool with over 79 technical indicators. You can also access pattern recognition and social tool-trading on the Next Generation platform, but it was a little behind on the main platform.

    You can switch to their MT4 platform for automated trading, but the area has a higher learning curve.

    Finally, It's Oanda which is on my list at the 3rd place.

    3. Oanda:

    If you have been trading forex in the US, then you know Oanda. It was one of only two available in the US brokerage. It also serves customers in Canada, the UK, Singapore, and Australia. In addition, he has a reputation as the most trusted retail forex platform.

    Pros
    • Open a trading account with only $ 1
    • Highly secure and regulated in the FCA, CFTC, IIROC, ASIC, and the Monetary Authority of Singapore
    • Offer spread of traditional broker and an average spread of cheaper raw
    Cons
    • slow support average response
    • Little or no new resources education, very regular
    • Research and fragmented news trend
    Oanda has existed since the beginning of the retail forex. While it was developed in academia, the company has developed and built a reputation as a trustworthy exchange.

    As a forex broker, it offers better products, better technology, and a dedicated customer base that spans the globe. Since Oanda has been around since the 1990s, they have the most historical data and offers the latest technology for a trading forex trader.

    You do not need to have a minimum trading account with Oanda. The quality of trade execution is considered high by most traders, and have a clear price and cost structure, which makes it more reliable overall as a forex broker.

    You can access a variety of online and via mobile applications, including MetaTrader 4 their application.

    In the end, these are the top 3 Forex broker of 2020. So, which one are you using? Please let me know.

    Thank you!
     
  2. Samuel888

    Samuel888 New Member

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    That is a really good list of brokers, by the way brokers are very important in forex trading. A large percentage of brokers are scammers and you really need to be careful when dealing with them. I had a lot of brokers and I was constantly switching until I found EXNESS. I read about them on https://forex-up.com/broker-reviews/exness-review/ and I liked what people were saying. I decided to start working with them and I never switched brokers again. You need brokers that you can trust and not worry about scamming you. Having good brokers is half of the reason for my successful trading.
     
    #2 Samuel888, May 23, 2020 at 5:47 PM
    Last edited: May 29, 2020 at 4:14 PM
  3. Mark22

    Mark22 New Member

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    Best broker in my opinion LVM Trade, excellent service, has all the relevant regulations, the support is great
     

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