Yearly Review of Forex Brokers

2020 Forex
Broker Rankings

Steven Hatzakis

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2020 Forex Broker Rankings

In total, 3,180 data points were gathered to rate and rank 30 forex brokers. To determine an Overall winner, we weighted each category as follows:

  • Commissions & Fees (17%)
  • Offering of Investments (17%)
  • Platforms & Tools (17%)
  • Research (17%)
  • Customer Service (17%)*
  • Mobile Trading (10%)
  • Education (5%)

Click on any category name to filter results by that category. For more information, see How We Test. *For brokers who do not offer phone support, no testing was conducted and this category's weighting was proportionally distributed among the remaining categories.



Fellow Traders,

Having spent the past five months assessing 30 of the most internationally trusted forex brokers, ranked according to our proprietary Trust Score algorithm, I am honored to present the fourth annual ForexBrokers.com Review.  

As a forex professional for over 20 years, I have been on both sides of the trading spectrum. On one end, as a trader (investing), and, on the other end, as a licensed representative working at online forex brokerages. Having spoken with thousands of traders over the years, I understand the evolving challenges market participants face.

With competition fierce and forex brokers continually rolling out new enhancements to their offerings, keeping up to date is no easy task. For our 2020 Review, there were 3,180 data points collected across seven categories. Again this year, we partnered with UK-based customer experience research group Customerwise to conduct phone tests from across the United Kingdom. 

Looking back at 2019, the best forex brokers continued to expand and personalize their research offerings. Additionally, they tweaked their web-based and mobile trading platforms for traders, as well as launched new products to increase their range of tradeable assets.

As regulatory requirements around the globe continue to tighten, we observed multiple brokers continue to expand their list of regulatory licenses. More regulation means more protection for everyday investors, and this a trend we certainly will continue to support. All in all, in 2019, we saw multiple brokers improve their Trust Score ratings on the site.

In the forex universe, geo-political events drive market volatility. Themes from 2019 included US policy and Trump's trade-deals, Brexit, as well as the Hong Kong riots, negative interest rates, and general fears of global stock indices being overbought.

Looking at cryptocurrencies, Bitcoin finished higher on the year, despite continued volatility. Many cryptocurrency projects failed to gain momentum in 2019, while others are finding traction slowly but surely.

To find the forex broker for you, start with the Overall ranking and "Best in Class" category lists below. Then, read a full-length review and compare features side by side using the comparison tool to finalize your broker selection. To verify your selected broker accepts residents from your country, view our international country guides.

Since our inception back in 2011, ForexBrokers.com has helped over one and a half million investors research and compare forex brokers. While the markets are anything but predictable, you can feel confident ForexBrokers.com has your back in 2020 to help you find the right broker.

Here's to us as global investors and our success in 2020,

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Steven Hatzakis
Steven Hatzakis Global Director of Research, Forex & Crypto ForexBrokers.com

Best in Class

Our “Best in Class” awards highlight the top seven forex brokers for seven primary categories and six additional categories. Each category winner is displayed below its respective section label.


View Customer Service Infographic
Best in Class for
  • Commissions & Fees Saxo Bank
  • Offering of Investments Saxo Bank
  • Platform & Tools IG
  • Research IG
  • Customer Service XTB
  • Mobile Trading Dukascopy
  • Education Admiral Markets
  • Professional Trading Saxo Bank
  • Crypto Trading eToro
  • MetaTrader Admiral Markets
  • Social Copy Trading eToro
  • Ease of Use Saxo Bank
  • Trust Score IG
  • Beginners Plus500
#1Banking Services Swissquote
#1Desktop Platform TD Ameritrade thinkorswim
#1Most Currency Pairs CMC Markets
#1Most CFDs Saxo Bank
#1Platform Technology TD Ameritrade thinkorswim
#1Institutional Clients Interactive Brokers
#1Smartphone App Dukascopy JForex Trader
#1Trader Community Darwinex
#1VIP Client Experience Saxo Bank
#1Web Based Platform CMC Markets Next Generation

Industry Awards

Each year forex brokers stand out for going "above and beyond" in the areas that matter most to clients. To recognize these FX brokers, we distribute industry awards. Here are the 2020 winners.

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