Believe it or not, but 90% of your Forex trading loss is due to the wrong selection of Forex Brokers! Our honest and thorough research of the best Forex Brokers 2020 will give you an unrivalled edge in Forex trading!

No. 3 Forex Broker IC Markets Australia




V. Good






V. Good

Why choose IC Markets?

  1. Spread – 0.1 (EURUSD); 8 Pips (Gold)

  2. ECN Commission – $7 (Round turn).

  3. Leverage – Up to 1:500

  4. Execution time – 40 to 120 ms

  5. Swap – $-7.8 (Long); $5.8 (Short)

  6. Requotes – No

  7. Margin Call – 100%

  8. Stop out – 50%

  9. EA Trading – Allowed.

  10. Scalping – Allowed.

  11. Hedging – Allowed.

  12. Free VPS – Yes.

2. Fastest Execution – Utilises enterprise grade hardware on trade servers in NY4 & LD5 data centre in New York & London.

3. Broker is registered in Australian and  Regulated by ASIC (Australia). ACN 123 289 109

4. 24*5 Professional Live Chat Support.

5. Best Forex Broker for Beginners, Experienced & Institutional Forex Traders. 

51 more Reasons to choose IC Markets

No. 1 Forex Broker Pepperstone Australia





V. Good



V. Good



V. Good

Why choose Pepperstone?

  1. Spread – 0.1 (EURUSD); 12 Pips (Gold)

  2. ECN Commission – $7 (Round turn).

  3. Leverage – Up to 1:500

  4. Execution time – 50 to 250 ms

  5. Swap – $-10.32 (Long); $5.76 (Short)

  6. Requotes – No

  7. Margin Call – 90%

  8. Stop out – 20%

  9. EA Trading – Allowed.

  10. Scalping – Allowed.

  11. Hedging – Allowed.

  12. Free VPS – Yes.

2. Won Several Industry Awards including – No. 1 Spread, Fund Withdrawal, Educational Material, Risk Management, Deloitte, Ernst & Young Award. 

3. Australian Broker, Regulated by ASIC (Australia) and FCA (UK). Australia – ACN – 147 055 703 UK – FRN 684312

4. 24*5 Professional Live Chat Support.

5. Best Forex Broker for Beginners, Experienced & Institutional Forex Traders.

51 more Reasons to choose Pepperstone











Why choose PaxForex?

  1. Spread – 0.1 (EURUSD); 12 Pips (Gold)

  2. ECN Commission – $7 (Round turn).

  3. Leverage – Up to 1:500

  4. Execution time – 100 to 800 ms

  5. Swap – $-13 (Long); $6.5 (Short)

  6. Requotes – No

  7. Margin Call – 120%

  8. Stop out – 100%

  9. EA Trading – Allowed.

  10. Scalping – Allowed.

  11. Hedging – Allowed.

  12. Free VPS – Yes (for VIP account).

2. No FIFO Rule, No Restriction on EA trading or Hedging or Scalping or any other trading strategy. 

3. Daily market analysis by Professional experts (sent by email on daily basis for selected currency pairs). 

4. 24*5 Professional Live Chat Support.

5. Best Forex Broker for Beginner and Experienced Forex Traders especially from USA.

51 more Reasons to choose PaxForex

Are you new to Forex Trading? Here are some interesting facts you should know about the best Forex Brokers 2020!

8 Proven Characteristics of the best Forex Brokers 2020

Wondering how to find the best Forex Broker in 2020 when more than 1000 Forex Brokers are available worldwide and each shouts loudly about their authenticity and transparency?

With such thinking, you are not alone, even experienced traders finds it daunting to understand which Forex Brokers is best suited for their trading strategy. 

We’ve done the job simple for you. Before start trading with any Forex Broker, if you will check below 8 proven characteristics, your fund will be in a safe hand. 

1. Broker's Reputation

“Reviews are King”. Yes, you read it correctly……“Reviews are King”. Because behind every review, there is an experience that matters.

Many beginner traders don’t give importance to Reviews of other Forex traders while analyzing credibility and reputation of a Forex Broker. 

But, for veteran Forex traders, Reviews are the first and the foremost important criteria for selecting the Best Forex Brokers in 2020.

Nowadays, any Forex Broker can afford a professional content writer or a top-class web designer to influence decision making process of their clients, but what they can’t influence is Reviews given by their clients.

Don’t fall in trap of a fancy Forex websites, convincing contents, impressive images instead read Reviews about Forex Brokers. Read in detail what their clients are writing about them.

Trusted Review & Rating Websites like Forex Peace Army, Trustpilot, 100 Forex Brokers has did a great job in finding Best Forex Brokers in 2020.

A rating of 3.5 and above and 100+ reviews are considered a decent number to evaluate the Best Forex Brokers in 2020.

Don’t start trading with any Forex Broker without reading reviews about them.

2. A trusted ECN and STP Forex Broker

Best Forex Brokers in 2020 always adopt a True ECN and STP Business Model.

But here is a catch…

As Marketing team of Forex Brokers realizes that the term “ECN and STP” is selling like a candy, they all started positioning themselves as a true ECN and STP Forex Broker.

But, don’t worry…

You can easily identify a True ECN and STP Forex Broker directly at their MT4 trading platform

MT4 has two different software, one for ECN and STP Forex Brokers and second for Market Maker Brokers.

You don’t need to waste your time asking Forex Brokers or Forums or Fellow Forex traders, Learn here how to identify a true ECN and STP Forex Broker directly at MT4 trading platform. 

Top 3 ECN and STP Forex Brokers in 2020
The best Forex Brokers in 2020
3. Order Execution Quality

Often investors and traders do not fully understand what happens when you click the “BUY” or “SELL” button on your online MT4 or MT5 platform.

If you think your order is always filled immediately after you click the button in your account, you are mistaken.

In fact, you might be surprised at the variety of possible ways in which an order can be filled and the associated time delays.

The speed at which your orders get filled is very important, especially if you’re a scalper. A few pips difference in price can cost you a huge loss.

The Best Forex Brokers in 2020 always give –

  1. Order execution speed less than half Second (i.e. 500 milliseconds).

  2. Order execution without any Requotes.

  3. Order execution with Zero or Low Slippage (less than 5 pips).

Slippages are both positive and negative. The Best Forex Brokers in 2020 not only pass Negative but also Positive Slippages to their clients.

By default order execution speed is fast in demo account. Because in Demo account, trades are executed at Broker’s servers and not forwarded to Liquidity Provider’s Server. Check Order Execution Speed only at Live trading account of a Forex Broker.

4. Live Chat Support (24/5)

Forex Brokers may be kind and helpful during the account opening process, but they can give surprises in “after sales” support.

Really….What’s great in 24/5 Live Chat support? For me it’s not so important! Such thought might come across you. 

But, soon you will realize real importance of 24/5 Live Chat Support once your chart will get freeze in mid of a great profitable trade or when you will not be able to access your back office portal or when you want urgent withdrawal or in worst case if your login credentials get stolen. In such situation you can’t wait for Email support which takes 48+ hours to reply and Phone support is uneconomical to make a long international call.

That’s why, 24/5 Live Chat Support is an important characteristic in Forex than it is in other industries.

Because of the online and decentralized nature of Forex industry traders can face any trading or back office related problems 24/5 hours.

If problem doesn’t get resolved instantly, then in addition to the frustration caused by lack of Live Chat Support, this can also lead to major losses in hard earned money.

The competence of Forex Brokers when dealing with technical or back office issues is just as important as their performance on executing trades.

Before signing up with a specific broker, check if Broker is offering 24/5 Live Chat Support and test out their Live Chat Support quality by asking 4-5 good questions.

If you do not get response as you expected, think twice before opening an account with that Forex Broker.

5. Ease of Deposits and Withdrawals

Best Forex Brokers in 2020 will allow you to deposit funds only after complete verification of KYC (Know your customer) documents i.e. Identity and Proof of Address (POA) document verification to have hassle-free deposits and withdraws in future.

Also, Best Forex Brokers offer several deposit/withdrawal options for traders’ convenience.

Be careful, if some Forex Brokers is allowing you to deposit fund before your KYC document verification or after just ID document Verification or after incomplete verification of your KYC documents.

It’s important because during withdrawal they will ask for POA (Proof of Address) document and then they will explain you several reasons for not accepting your POA and delay your withdrawal.

Before transferring fund, you must ask your Forex Broker if your LIVE account is 100% verified as per their compliance dept. requirements or will they ask KYC or any other document during withdrawal?

If their reply in not clear, stay away from such Forex Brokers.

6. Favorable Trading Conditions

Best Forex Brokers in 2020 always focus on improving trading environment and offers competitive Spread, Swap Charges, Leverage, and trading instruments.

a) Spread and Commissions –

As the term “Tight Spread”, “Zero Spread”, “Low Spread”, “Low Commission” sells like candy, every Forex Broker started using it at their websites.

Don’t rely on information shown at Forex Broker’s website, it’s their website, their programmers, they can write whatever they want on their website.

The best way to check Spread in REAL TIME is to download and login your LIVE  account at Forex Brokers MT4 or MT5 platform.

Check Spread only at Live Account.

Spread up to 1.5 pips and Commission up to 7 USD per lot per round turn for EURUSD is considered reasonable with Best Forex Brokers in 2020!

b) Swap Charges –

A Swap/Rollover fee is charged when you keep a position open overnight.

It’s also a crucial parameter and SAVE a lot of your money if you keep your trades open for more than 2 weeks.

Let’s Calculate how much you can save because of Swap Charges –

Suppose, if you “BUY” 1 Standard Lot of EURUSD and keep your order open for 20 days, then –

Swap charges with Best Forex Brokers,

Swap Rate = 8 USD/day

Number of Days = 20 days

Swap Charges for 20 days = 20 * 8  = 160 USD

Swap charges with Common Forex Brokers,

Swap Rate = 20 USD/day

Number of Days = 20 days

Swap Charges for 20 days = 20 * 20  = 400 USD

Your loss because of difference in Swap Charges between Best Forex Brokers and Common Forex Brokers

= 400 – 160 USD

= 260 USD

This 260 USD LOSS you could have saved easily just by choosing the Best Forex Brokers.

c) Leverage –

Forex participants have access to a variety of leverage amounts depending on the Forex Broker, such as 1:50 to 1:2000.

Leverage is a double-edged sword, not only for traders but also for Forex Brokers.

A true ECN and STP Forex Broker understand this Risk very well and always offer leverage less than 1:500. 

If any ECN and STP Forex Broker is offering leverage more than 1:500 then they are risking both trader and the company. It’s proven during Swiss Franc debacle in Jan 2015, when a Top tier Forex Broker declared bankruptcy. And one of the reasons for their bankruptcy was higher leverage which they offered to their clients.

Avoid such High Leverage offering Forex Brokers.

7. Security of Funds

A flashy or professional looking website doesn’t guarantee that Broker is safe.

Due to high risk regarding the safety of deposits and the integrity of the broker, accounts should only be opened with Forex Brokers that are fully Regulated.

Ask Broker to share link of Regulatory body’s website where you can check details of Broker’s License.

If they are not able to share the link, don’t open account with such Forex Brokers.

8. Trading Platforms

The trading platform is the investor’s gateway to the Forex Market.

Best Forex Brokers in 2020 understands it well and give utmost priority to technology and invest a lot on trading platform and other value added services. 

A well-designed trading platform always has clear ‘Buy’ and ‘Sell’ buttons, and some even have a “panic” button that closes all open positions instantly.

A poorly designed interface, on the other hand, could lead to costly order entry mistakes, such as accidentally adding to a position rather than closing it, or going short when you meant to go long.

For Forex trading – Metatrader 4, Metatrader 5, Metatrader Mobile Trading and Metatrader Web Trading Platform are the most advanced trading platform, have pleasing and conducive graphical user interface (GUI) for monitoring a lot of information at once, allows backtesting of strategies, provides historical data, depth of market, several technical indicators, latest news and marketplace for Signals and Automated trading systems.

Check if your Forex Broker is offering all of these Metatrader trading platforms. If not, just stay away from them.  

If you enjoyed this post and it helped you in finding the best Forex Brokers 2020, we would be very grateful if you’d help by sharing this post to a friend or fellow Forex trader on Twitter or Facebook or LinkedIn to help him/her to understand earning opportunities with best Forex Brokers 2020. Thank you!

Happy Trading Tradestie!!

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