Best Forex Brokers for Mexicanos

These Forex brokers offer the best platforms for all types of traders

The global foreign exchange (Forex) market is the largest and most active financial market in the world. When searching for the “best” forex broker, novice and experienced traders generally look for a number of key features and benefits. The most important of these are: overall trading experience, breadth and depth of product offerings (currencies, CFDs, indices, commodities, spread-betting, cryptocurrencies, etc.), fees (including margins and commissions), trading platform(s) (online, downloadable software, mobile, charting and third-party platforms), customer support, trading education and research, and reliability.

Through extensive research and strict adherence to our rigorous methodology, we have identified the best forex brokers in all of these areas and more, resulting in our top rankings below. Our mission has always been to help people make the most informed decisions about how, when and where they trade and invest. With the recent market volatility and changes in the online forex brokerage industry, we are more committed than ever to providing our readers with unbiased and expert reviews of the best trading platforms for traders of all levels and for all types of markets.

Best Forex Brokers
CMC Markets: the best forex broker overall and the best in terms of offering selection.
London Capital Group (LCG): Best Forex Broker for Beginners
Saxo Capital Markets: best forex broker for advanced forex traders.
XTB Online Trading: Best Forex broker for low cost XTB Online Trading: Best Forex broker for low cost XTB Online Trading.
IG: Best forex broker for US traders
Pepperstone: Forex Broker: Best Forex Broker for Trading Experience
Best forex broker for forex traders for forex market for forex traders
BEST FOR FOREX MARKETS

Minimum account: $0
Fees: Commissions; overnight funding fees; inactivity fees; activity fees.
Best audience: general selection of forex brokers and offers.
Read the full review

Founded in 1989, CMC Markets (CMC) is a well-established, exchange-traded and highly rated UK forex broker that has successfully adapted to the ever-changing online brokerage landscape. The company is listed on the London Stock Exchange (LSE) under the ticker symbol CMCX. Like many forex brokers, CMC does not accept US traders.

CMC Markets caters to all types of traders, from the novice looking to dive into the online trading arenas of Forex, CFDs and spread-betting, to the seasoned veteran looking to learn a wide range of products. The company’s fees are competitive in the industry and it ranks high on several of our lists. The company is the winner of Investopedia’s Best Overall Forex Broker and Best Forex Broker Bid of 2020.Pros

Wide range of offers
Regulated by FCA (UK)
Focus on education and customer service.
Industry leading research capabilities
Offers protection for client accounts
Disadvantages

Does not accept US clients
Differences between Next Generation and MT4
High CFD spreads on certain indices
No backtesting or automatic trading facility
London Capital Group (LCG): Best for beginners
ACCOUNT OPENING

Minimum account: $0 (Standard); $10,000 (ECN).
Minimum ($100): $100 (minimum) ($100.00) Fees.
Best Target Audience: Beginners
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Founded in 1996, London Capital Group (LCG) has always kept pace in the highly competitive online brokerage industry. The company’s most recent rebranding took place in 2016 with the launch of LCG Trader. This, along with the ubiquitous MT4 platform (available for download) and a functional mobile app, comprises LCG’s entire online consumer offering. LCG offers access to a wide range of CFDs and spread-betting instruments across multiple asset classes. Like most others on this list, LCG does not accept U.S. traders.

As one of the largest UK-based forex brokers, LCG offers a wide range of asset classes and a seamless trading experience. The company’s fees are competitive in the industry, and it ranks high on our list for customer service. These positive attributes, combined with an obvious focus on functional simplicity, make LCG well-suited for beginning traders. In addition to its overall high rating, the company is the winner of Investopedia’s Best Forex Broker of 2020. While you certainly don’t have to be a beginner to benefit from its offerings, LCG is hard to beat if you’re just starting out. per

Focus on customer service
Regulated by the FCA (UK)

Founded in 1992, the Danish company Saxo Bank Group (Saxo Bank) describes itself as “a leading fintech specialist in multi-asset trading and investing, offering ‘banking-as-a-service’ for wholesale clients. The company embraced the technological advances of the late 1990s, launching one of the first online trading platforms in 1998. Saxo Bank has been operating in the U.K. since 2006 through its subsidiary, Saxo Capital Markets U.K. Ltd (SCML) and, like many other forex brokers, does not accept U.S. traders.

Saxo Capital Markets is designed for advanced traders. The company offers a wide range of brokerage services designed for sophisticated active traders, investors, professionals and institutions. Small account holders face a number of unfamiliar obstacles, including higher minimum account size, varied fees and fewer customer support options. Tiered accounts reduce trading costs and offer additional benefits as equity grows, but most retailers will struggle to reach higher levels of customers. The company is the winner of Investopedia’s “Best Forex Broker for Advanced Traders” award in 2020.Pros

Wide range of offers
Regulated by the FCA (UK)
Best research in the industry
Great user interface
Provides protection for client accounts
Cons

Lack of emphasis on customer service
Confusing instrument fee structures
Does not accept US based clients
No MT4
XTB online trading: the best for low costs
OPEN ACCOUNT

Minimum account: $0
Fees: Spread fees; commissions; daily funding costs; inactivity fees.
Best for: Low costs.
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X-Trade was founded in 2002 as Poland’s first leveraged Forex brokerage and changed its name to X-Trade Brokers in 2004 to comply with new Polish regulations. In 2009, the company was renamed to its current form, XTB Online Trading (XTB), and went public on the Warsaw Stock Exchange in 2016 under the ticker symbol XTB. The company does not accept traders from the United States.

XTB is a reliable choice for traders looking to minimize costs, whether it’s the cost of placing a trade (bid/ask spread) or avoiding extraneous costs such as bank transfer fees. XTB offers maximum leverage of up to 500:1 for accounts outside the UK, while UK accounts are leveraged up to 30:1. The company pays great attention to customer support and offers relevant educational tools and research opportunities that are well suited for the inexperienced trader. This company is the winner of Investopedia’s “Best Low-Cost Forex Broker” award in 2020.Pros.

Lowest currency spreads.
Regulated by the FCA (UK)
Provides protection of client accounts
Emphasis on customer service
Cons

Does not accept US clients
Non-FX spread charges are high
No guaranteed stop loss
No backtesting or automated trading options
IG: best for US traders
OPEN ACCOUNT

Minimum Account: $250
Fees: Spread fee; overnight funding fee; inactivity fee
Best for: American traders
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IG Group (IG), founded in 1974 by Stuart Wheeler “as the world’s first spread-betting firm,” is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) conglomerate that “enables informed, determined and adventurous people to access the opportunities of financial markets.” Unlike most brokers on this list, IG accepts U.S. forex traders, which has been the case since the company re-entered the U.S. market in early 2019.

Worldwide, IG is open to anyone who wants to trade CFDs. In the U.S., it is for clients who want to trade forex. It’s that simple. To be successful, IG has decided to adopt the time-honored adage “go big or go home,” because, well, it can. The low spread cost, emphasis on customer service and education, hands-on research and functional user interfaces make this broker well suited to compete in the online forex brokerage market. This company is the winner of Investopedia’s “Best Forex Broker for American Traders in 2020” award.Pros

Wide range of services
Accepts customers from the U.S.
Regulated by FCA (UK) and CFTC, NFA (USA)
Focus on education and research
Provides account protection for UK/EU clients
Disadvantages

No account protection for US clients
No guaranteed stop loss for U.S. clients
No copy-trade integration on IG platform

Since opening its doors in 2010, the Australia-based Pepperstone Group has become one of the leading players in the online brokerage sector, creating a highly competitive and fully-featured trading portal specialising in Forex, stocks, indices, metals, commodities and even cryptocurrencies.

Pepperstone offers easy access to the markets, allowing the client to focus on the difficult task of successfully trading the markets. Pepperstone is ideal for traders who want an easy-to-use and affordable offering, a variety of interfaces and account types, and efficient customer support. Investopedia’s ranking methodology took these qualities into account when it named Pepperstone the best Forex broker for 2020 based on trading experience.

Low exchange margins
Regulated by FCA (UK)
Provides protection for client accounts in the UK
Various platform offers
Cons

Poor website maintenance
Does not accept US clients
Limited protection for UK/ non-UK client accounts
No guaranteed outage loss
What to consider when choosing an online Forex broker
When choosing an online Forex broker, you need to think about your immediate needs as a trader. When looking for the right broker, you should ask yourself a few questions. Here are some of them:

Are you a beginner? Are you a beginner? Are you a beginner? Are you looking for a broker with excellent educational materials on Forex and CFDs and reliable customer support?
Do you need a good CFD expert advisor and Forex trader? Many Forex brokers allow zero or zero minimum deposits, which can be a great option for traders with limited funds; many brokers also charge very low trading fees and profit margins.
Are you always on the move and need a reliable mobile platform? Some Forex brokers offer integrated mobile apps that provide almost all the features available on their desktop brokers.
Are you an intermediate or advanced trader? Some Forex brokers offer more features that more experienced traders need, including advanced order types and full-featured charting platforms with many analytical tools.
Do you like to trade on multiple media? Forex brokers offer a diverse range of products and you will want to choose a broker that offers a wider range of tradable instruments, such as currency pairs, indices, commodities, equities and cryptocurrencies.
All of these and many other factors should be carefully considered before choosing an online Forex broker. We’re here to help you with our reviews, ratings and reviews, but ultimately you need to decide for yourself which Forex broker is best for you.

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