For novice Forex traders, choosing a reliable broker becomes one of the main questions. The financial position of newcomers does not allow them to work by the "trial and error" method, open deposits in several dealerships, so they have to focus on the analytical activities of experts, reviews of experienced traders.
The independent rating of Forex brokers in 2020 was compiled based on the results of a thorough analysis of the main indicators and real feedback from clients of dealing centers on neutral "reviews".
Best Forex Brokers 2020
1. Alpari Limited
An international broker began real work in the Forex market during a severe crisis. In the international market, the company, registered in the offshore Saint Vincent and the Grenadines, has experienced ups and downs. But on the Russian market the most reliable Forex broker has been working steadily for 20 years. Novice traders do not need to confuse the Alpari Limited dealing center with the Alpari Broker company, which worked in the stock market. The activities of the subsidiary, whose license had been revoked by the Central Bank of Russia, had nothing to do with the Forex market.
For twenty years of activity (the company has actually been working since 1999, with formal registration in 1998), the broker has gained international authority, representative offices have been opened in Belarus, Ukraine, Moldova, Kazakhstan, and Uzbekistan.
Significant advantages of Alpari conditions for traders should be recognized:
- minimum deposit of $ 1;
- ECN accounts providing access to interbank liquidity;
- multiple language support;
- extensive analytics;
- non-traditional currency pairs (including - AUD / CAD, GBP / SEK, USD / TRY, GBP / SGD, USD / DKK, NZD / JPY, EUR / NOK);
- telephone dealing;
- an abundance of webinars;
- Dow Jones feed broadcast;
- various service packages.
The official title of "Best Forex Broker" in Russia is not awarded. But the regular, for fifteen years, Alpari Limited getting into the top three Russian leaders gives the international broker the right to claim such a title.
2. ForexClub (FX Club)
An international broker operating in the CIS, began operations in 1997. FX Club is registered in the offshore Saint Vincent and the Grenadines. Besides Russia, the group of companies is popular in Ukraine, Armenia, Kazakhstan and is included in the register of the National Bank of Belarus.
Trading conditions and differences:
- minimum lot - 1000 units of the deposit;
- zero spreads and commissions;
- a wide range of trading instruments (including stocks, metals, energy, Russian ruble, cryptocurrencies);
- own trading platform Libertex;
- selection of a trading leverage with a maximum of 1: 600;
- international certificate ISO 9001;
- numerous training programs;
- great forum.
The FX Club is included in the rating of the best Forex brokers on a regular basis; over the past decade, the company has received the “Best Broker of the Year” award several times.
3. FxPro
The international broker FxPro operates in 170 countries of the world, is authorized in the financial supervision and securities commissions of Great Britain, South Africa, Cyprus, Dubai, Bahamas. The main differences of the company, which operates from its headquarters in London, are Tier 1 equity capital (100 million euros), six classes of trading assets, external audit by British lawyers.
Trading conditions:
- the minimum deposit is $ 100;
- fixed spread of the EUR / USD pair (1.5 pips);
- floating spreads of other pairs based on market conditions;
- withdrawal of funds to Mastercard, Visa cards;
- traditional trading terminals and their own mobile application;
- a large set of trading instruments.
Our 2020 Forex Broker Rating put FxPro in third place due to financial stability, international credibility, fast payouts, and minimal justified negative reviews.
4. Forex4you
An international broker registered in the Virgin Islands confirms its reliability with an FSC license. The dealing center has been operating in Russia for over ten years, regularly ranking in the top ten brokers. Working with traditional MetaTrader terminals, Forex4you offers traders the following trading conditions:
- the minimum deposit is $ 1;
- unlimited demo mode;
- floating market spreads;
- three deposit currencies (US dollar, ruble, euro);
- minimum leverage 1: 1;
- maximum credit 1: 1000;
- a wide range of trading instruments (including commodities, cryptocurrencies, energy).
The distinctive features of Forex4you include active work with PAMM accounts, no restrictions on robotic trading, constant expansion of trading instruments, quick withdrawal of profits.
5. RoboForex
The international broker RoboForex, registered in Belize, has been working in Russia for ten years. During this time, the dealing center has significantly expanded the list of trading instruments, analytical section. Last year RoboForex offered traders the following trading conditions:
- the minimum deposit is $ 1;
- lots of 1 cent on micro accounts
- loyal verification;
- floating spread for the main currency pair EUR / USD;
- "No Deposit Bonus" promotion;
- the maximum leverage is 1: 1000;
- fixed spreads for Fix-Standart accounts;
- access of ECN accounts to the interbank market with low commissions;
- copying deals of experienced traders.
Like other most reliable Forex brokers in Russia, RoboForex receives the minimum amount of real negative feedback on the speed of payments and the size of commissions.
6. FinmaxFX
The young broker FinmaxFX has been working in Russia since 2015. The activity of the dealing center is subject to European directives, certified by the Center for Financial Development and Trade. Working with popular trading terminals and its own mobile applications, the FinmaxFX broker offers traders the maximum leverage by European standards (1: 200), a minimum deposit of $ 100.
Non-standard trading conditions include:
- tight spreads (1 pip for VIP clients);
- a set of trading instruments (more than four hundred assets);
- swap trading;
- daily webinars;
- deposit protection system;
- a large database of educational materials (books, videos, economic calendar, news blog);
- original bonus programs.
Despite the short period of activity, FinmaxFX is among the top Forex brokers in 2020 in sixth place, and its rating is constantly increasing.
7. Finam
Finam Forex operates under Russian law and is licensed by the Central Bank of the Russian Federation. The authorized capital of 143,000,000 rubles allows the broker to calmly survive the turmoil of the financial market, without stopping the payment of profits to traders. Last year, the broker offered traders the following trading conditions:
- twenty seven currency pairs;
- leverage 1:40;
- several trading terminals (including TRANSAQ, QUIK, FinamTrade platforms, mobile applications)
- large sizes of minimum lots (not less than 1000 units);
- deposit and withdrawal of money by non-cash bank transfer.
Many of these conditions will not be suitable for novice traders. But Finam Bank positions its subsidiary Finam Forex as a dealing center for experienced financial market players.
8. NordFX
Having worked in the Russian Forex market since 2008, the international broker NordFX, after the tightening of the Russian legislation, reduced its positions. But many experienced traders continue to work with NordFX and recommend it to newbies in their reviews. The company has earned such a reputation for its impeccable history of payments and resolution of conflicts with clients.Last year, the NordFX dealing center offered traders the following trading conditions:
- minimum deposit $ 10;
- fixing and floating spreads;
- simple registration and verification (passport only);
- close to the maximum leverage on the market (1: 1000);
- 100% deposit bonuses;
- a variety of news, reference, analytical information.
NordFX entered our rating of Forex brokers in Russia in 8th place, but its potential is much higher. MasterForex Academy has brought it to the first places in its own ratings seven times. The decrease in the rating positions this year is due to the lack of a license from the Central Bank of Russia.
9. Grand Capital
For six years of work on the Russian market (since 2013), Grand Capital has earned a reputation as a reliable broker. The agreement, which the trader signs upon registration, provides for the return of the deposit in the event of the broker's bankruptcy (from the compensation fund), compensation for justified complaints to the Estonian regulator (up to EUR 20,000).
Trading conditions of the broker Grand Capital:
- the minimum deposit is $ 10;
- unlimited demo trade;
- maximum possible leverage (1: 2000);
- available deposit of ECN accounts ($ 500);
- familiar terminals (MT4, MT5);
- extensive analytics, reference sections.
According to traders, the Grand Capital company is distinguished by the speed of profit payments, quick resolution of conflicts with clients, and impeccable technical support.
10. Alfa-Forex
The top 10 Forex brokers in Russia are completed by Alfa-Forex, licensed by the Central Bank of the Russian Federation. The requirements of Russian legislation limit the broker's options, but the financial support of the parent bank guarantees the stability and reliability of the dealing center. Alfa-Forex offers Russian traders:
- independent account with Alfa-Bank;
- eleven currency pairs;
- fixed leverage 1:40;
- fixed spread (from 1.6 to 7 pips);
- standard and mobile terminals;
- automatic trading;
- deposit and withdrawal of money by non-cash bank transfer.
Difficulties for novice traders can be personal opening an account in a branch of Alfa-Bank, a large size of the initial deposit (even the minimum lot is a thousand base units). Income tax is deducted from each payment. But in case of financial conflicts, you can go to the administrative court of the Russian Federation, you have direct access to the invested finance in your bank account.
Which Forex Broker Should You Choose?
For dealing centers, getting into the best Forex brokers in Russia in 2020 raises prestige and authority, but does not change the principles of work. In fact, a novice trader can open a deposit with any broker from the top ten. For prudent newbies, it is best to start with dealers with minimal deposits. But in the list of brokers, you can also find offers of work with maximum leverage, allowing you to quickly increase your deposit.