Introduction
Trading forex presents an extensive range of lucrative opportunities. However, you cannot make a trade directly. For this reason, it is essential to figure out the best forex broker 2022. A trader’s success depends heavily on the broker and their services. Choosing the best forex broker can be a challenge for beginners, which is why they must consider the tools a broker offers, accessible trading instruments, and even think about the different trading accounts. If you are searching for the best forex broker, then read on to find more details about the 10 best forex brokers in 2022.
1. HotForex
With a firm market footing, HotForex has premium features and excellent overall services, which is why it is ranked as the number one choice. The award-winning, multi-asset broker offers six different account types with a minimum deposit of $5. Traders can choose from an extensive range of tradeable assets, including 47 forex pairs, metals, energies, stock indices, and cryptocurrencies.
The broker prides itself by offering in-depth trader education and market news. Moreover, live webinars, Q&A sessions, videos, and articles offer detailed financial knowledge. It is the best forex broker 2022 for traders looking for enhanced trading tools, valuable investor resources, and ample liquidity.
Rating:
2. IG Markets
IG Markets is a renowned broker that offers the highest number of CFDs (with over 16000) to traders. It provides the perfect blend of top research tools, competitive pricing, and a high trust score. However, the minimum deposit is comparatively higher, that is $300.
The education section of this broker is top-quality, offering 60 free trading lessons and numerous webinars. On the flip side, the broker has a complex verification procedure and does not welcome low-income groups. It also has limited options for depositing and withdrawing money and charges a fee for inactivity.
Rating:
3. Pepperstone
Pepperstone is a fast-growing online forex broker with more than 300,000 traders on board. It is ranked as the third-best forex broker offering 100+ trading instruments which comprise cryptocurrencies, shares, commodities, etc.
It is a highly secure broker that is regulated and provides razor-sharp pricing. However, the platform charges a high cost for holding a position overnight. The customer service is exceptional. On the contrary, the educational material on the platform is primary.
Rating:
4. RoboForex
RoboForex is a global, multi-asset broker with over 3.5 million clients. The broker has prestigious awards and has an exceptional investment program: CopyFx. It is perfect for trading forex and CFDs. On the negative side, there is a lack of cryptocurrency trading tools.
There are numerous methods for withdrawing funds, such as credit cards, FasaPAY, and Payoneer. However, each method has a different fee for withdrawing money. Even though the platform does not charge an inactivity fee, traders need to meet the activity requirements.
Rating:
5. FxPro
Speaking of award-winning forex brokers, FxPro ranks as the fifth-best in the market. It is ideal for people who prefer automated trading and enjoy new technology. As a drawback, the broker has a minimum of $100, making it inconvenient for beginners. FxPro Edge has a foundation. However, it cannot compete with the best proprietary trading platforms. The platform provides a reliable and secure trading arena with exceptional customer service. It provides a high level of training, but it isn’t easy to register in the affiliate program.
Rating:
6. Oanda
Registered in the US, Oanda has global clients and is highly regulated. It is a well-designed platform that has superior offerings. Moreover, the account opening procedure is quick, easy, and user-friendly. On the flip side, the product portfolio is limited with only forex and CFDs. The educational material on the platform is good; the video content is not comprehensive. Trading costs are steep, and there is a lack of bonus programs.
Rating:
7. Interactive Brokers
Interactive Brokers is considered one of the top forex brokers because of low per-share pricing, a vast selection of tradeable assets, and an advanced trading platform. It is ideal for experienced traders who aim to indulge in high volumes. The platform has a complex scheme when it comes to commission and fees. The trading fee is low, but the platform is challenging to navigate.
Rating:
8. TD Ameritrade Forex
TD Ameritrade Forex is next on the list, which offers over 70 tradeable currency pairs and several unique tools, education, and research. One of the platform’s best features is the no account minimum requirement, providing traders with an excellent experience. This broker does not have MT4, and its live broadcasting is concentrated on the futures and equity market. The biggest issue is that the platform is only available to US clients.
Rating:
9. Saxo Bank
Saxo bank offers 40,000 tradeable symbols and comes with some of the best advanced tools. It has a wealth of educational tools that are valuable for traders. Moreover, the platform is highly secure and connects traders to third-party platforms.
However, a high cost needs to be paid to access some of the premium features. On the negative side, this isn’t a platform for beginners because you will need $2000 as a minimum deposit. In addition, there is no live chat feature.
Rating:
10. Exness Group
Rating:
Final words
To wrap it up, the article shows the pros and cons of the 10 best forex broker 2022. We aim to help you choose the top broker and have a successful run at trading. All the features prove HotForex.com as a top contender. It offers an extensive range of services and 150+ products. Security and education tools are impressive. Moreover, the minimum fee is relatively low compared with competitive platforms.
