Local realism is the worldview in which physical properties of objects exist independently of measurement and where physical influences cannot travel faster than the speed of light. Bell's theorem states that this worldview is incompatible with the predictions of quantum mechanics, as is expressed in Bell's inequalities. Previous experiments convincingly supported the quantum predictions. Yet, every experiment performed to date required assumptions that provide loopholes for a local realist explanation. Here we report a Bell test that closes the most significant of these loopholes simultaneously. Using a well-optimized source of entangled photons, rapid setting generation, and highly efficient superconducting detectors, we observe a violation of a Bell inequality with high statistical significance.