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Questions & Answers
What are the best forex brokers?
If you want to be successful as a forex trader one thing you must nail is the broker you work with. Choosing the wrong broker is putting yourself at an immediate disadvantage, while the right broker will give you the tools, research and platform you need to be successful.
According to an annual review by ForexBrokers.com quoted below these are the best forex brokers for 2019:
IG - Best overall forex broker
Saxo Bank - Excellent all-round offering
CMC Markets - Best for active trading
TD Ameritrade FX - Well-rounded offering, US only
Forex.com - Great all-round offering
City Index - Well-rounded offering
XTB - Well-rounded offering
Dukascopy - Best desktop platform, mobile app
FXCM - Well-rounded offering
So, based on those rankings we can conclude IG is the best forex broker overall, while CMC Markets is the best forex broker for active traders. They consider all others as either excellent or well-rounded offerings that would work well for the average trader. With that in mind here’s some additional information about the overall best broker and the best one for active traders:
– This broker is a publically traded U.K. company founded way back in 1974 and it has become one of the most respected names in the online trading world. Traders looking for access to over 15,000 products across many asset classes, including 91 different currency pairs, will appreciate the offerings at IG. As of the end of the 2018 fiscal year the broker has nearly 200,000 global clients. IG gets high marks for its competitive spreads, customer service, platform, tools, and research.
– CMC Markets is another London based company founded in 1989 that has grown to be one of the top retail forex brokers. Traders know them for their powerful charts and pattern recognition tools and an extensive selection of forex pairs (183 different pairs are offered), quoted both ways. CMC Markets has over 60,000 clients worldwide. CMC Markets has competitive spreads and excellent platforms and tools, and a rich variety of research provided by in-house analysts.