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Best Forex Brokers 2020-2021

Looking for the Best Forex Broker? The forex market and, by extension, the internet have been awash with hundreds of online brokers claiming to help traders facilitate the forex trading process. While some of these online brokers are truly game-changers, others are a bunch of scams.

We developed this site to guide both beginner and experienced traders not to fall prey to scam online brokers. As such, we are in the business of reviewing forex brokers to determine the genuine ones. We present our findings in a way that beginners will easily understand.

Libertex

Operating since 1997. 20 years of experience. Customers from 110 countries worldwide.

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5

What Are Forex Brokers?

A forex broker is a finance services firm that operates as a middleman between traders and the forex market. In other words, for you to buy or sell any currency on the FX market, you need a broker to match you with a buy/seller for the transaction to be smooth. A forex broker is also a middleman between you (the trader) and what is popularly known as a “liquidity provider.” If you are looking for the best forex indicator then there are several other forex sites that can guide you.

Aside from foreign currencies, a forex broker allows you to trade different financial assets like cryptocurrencies, indices, commodities, and pure metals. Before you open a trading account with a forex broker, ensure you research about the broker and understand how their trading platform works. If possible, you can check online forums and read independent reviews about the broker.

Best Forex Broker Review

We Review The Best Forex Brokers

We are a team of expert traders with one mission – to review hundreds of online brokers and present only the best ones so that traders can make their choice. We use different yardsticks to review each of the forex brokers we come across.

Any forex broker you choose here on site, you are sure of getting value for your money. At the Best Forex Broker Review, we parade a team of expert traders who understand how the forex market works and the factors to measure the success of an online broker.

Here at the Best Forex Broker Review, we guarantee our clients 100% forex broker efficiency. We make this commitment because all the brokers listed here are checked against different criteria including, regulations, ease of withdrawal and deposit, customer service, trading tools and instruments, trading platform, and tradable assets. All brokers have all performed well in all these areas.

best forex broker

Criteria We Use To Review the Best FX Brokers For Our Traders

In reviewing forex brokers, we subject each of them to a series of tests to determine their effectiveness and efficiency. The following are some of the criteria we adopted to review these brokers:

  • Regulations: Trading with a regulated broker means your funds are in safe hands. Most regulated brokers use segregated accounts to safe their traders’ funds. We reviewed each forex broker to confirm their regulation status. All the brokers listed on this site passed this test.
  • Ease of deposit/withdrawal: We reviewed how effective it is to deposit or withdraw your earnings from their trading platforms. They all performed well in this regard also.
  • Trading Instruments and Tools: We reviewed the types or varieties of trading instruments/tools available for traders. The best online broker should have a list of trading tools and indicators to help traders automate their trades.
  • Customer Service: We also check to determine the effectiveness of their customer service unit. The good news is that all the forex brokers listed on this platform scaled this test. For a fact, their customer service team members are professionals to the core – they are also courteous.
  • Expertise of their development team: Lastly, we reviewed the capability of the development team. Rest assured, all the brokers on our site are designed by teams with a track record for performance.

FAQs

Who Needs a Forex Broker?

As long you are a forex trader, you need a forex broker. Whether you plan to trade for a short-term or you want to kick-start a forex trading career, you need a broker to access the financial markets.

Can a Forex Broker Make Me Rich?

Having trading experience, the type of trading instruments used, trading strategies, and trading platforms. If you check the boxes in all these areas, then you are definitely going to make money. However, if you are lacking in any of these areas, a forex broker cannot make you rich.

How Much Do I need To Start Trading With a Broker?

There is no fixed amount before you can start forex trading. While some brokers require that traders must have at least $100 in their trading account, others allow traders to operate a zero account.

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