The forex market is a highly liquid and exciting investment opportunity where you can gain or lose your money in a fraction of a second. If you plan to jump into this lucrative market, then working with a top forex broker is crucial. The best forex broker 2022 should provide a blend of premium trading tools, quick and reliable trade implementation, competitive pricing, and a secure environment. With so many forex brokers emerging in the market, sifting through and filtering out the top choices can be a challenge for an average trader. We took care of this issue using strict criteria and have devised a list of our favorite forex brokers 2022. The article focuses on these best brokers for trading and offers insightful details about each to empower traders in making an informed choice.
HotForex is ranked number one on our best forex brokers 2022 list with a customer-friendly design. A multi-asset broker offers CFD trading options using seven diverse account types. The platform has an attractive trading portfolio, with 55+ industrial awards and more than 500,000 live accounts. HotForex offers services that are backed by applicable licenses and proper regulations. Given the global presence, HotForex will be the best broker in 2022.
Top forex broker 2022
Funding the account and withdrawing money is straightforward, with multiple options. You can deposit the money through wire transfers, e-wallets, and debit cards. Best of all, HotForex does not include a withdrawal fee. It is a verified broker and offers several educational materials to guide clients. There is a library of short clips for traders who prefer watching a video. Moreover, it offers a variety of technical analysis techniques. The platform is ideal for beginner and intermediate traders entering the forex market.
2. IC Markets
Ranked as the second-best forex broker, IC Markets is regulated and offers trustworthy trading services. As a plus, this platform has low forex fees but its product portfolio is limited (only forex and CFD). The platform has a user-friendly interface and creating an account is easy. It has low trading and non-trading fees.
On the negative side, CFD financing rates are incredibly high. The design of the platform is complex, making it a challenge for beginners to navigate. Although the customer service is accessible 24/7, the live chat services are slow. It is considered one of the best forex brokers in 2022 because of its impressive library of educational videos and materials.
Next on the list of top forex brokers is BDSwiss. It is CySEC regulated and offers more than 250 financial products, including indices, shares, and commodities. It is known for hosting detailed educational materials, offering exemplary customer support service, and providing rich tools for value addition. On the flip side, traders can only access premium features when they purchase a VIP account that is highly priced.
The platform is ranked as one of the best forex brokers, given that it offers commission-free trading. One major downside of this broker is the requirement of training that can only be completed on the platform. Moreover, you will need to register before practicing on the Demo account. Compared with other platforms, large trades are not discounted on BDSwiss.
If you are looking for a broad range of CFD and forex to trade, then XTB is the platform for you. With a trust score of 95, the platform is recognized for offering safe and secure trading activity and ensuring your funds’ protection. XTB charges a low forex CFD fee and allows traders to deposit or withdraw funds without any hassle.
On the contrary, the fee for stock CFD is pretty high. It is a top choice for most traders because it is a multi-asset, well-regulated platform that delivers a vast range of educational materials. Even though several innovative tools are available on the platform, the data provided is primary. A significant negative for the broker is the lack of 24/7 customer support.
Number fifth on our list is eToro, which is authorized and regulated by various subsidiaries. The broker delivers an extensive product range with 2000+ financial instruments. The accessibility of MT4 and MT5 adds to the reliability of the platform. A popular feature is its social trading service using CopyTrader, which allows a trader to connect with traders and utilize the crowd’s wisdom.
On the flip side, eToro is not a beginner-friendly platform since it has an intricate buying and selling procedure for crypto. Likewise, the fee structure is complex and charges traders a flat withdrawal fee, an overnight fee on CFD, and costs for inactivity on the platform. Lastly, the Live chat feature is not accessible in all countries.
Last on the best forex broker is EightCap, famous as a MetaTrader-only broker. Moreover, it backs a suite of third-party plugins that allows for detailed market research. It is listed at the end because of its narrow product portfolio covering only CFDs and forex, absence of educational content, and inadequate research material.
To wrap it up
In conclusion, the article demonstrates the positives and negatives of the best forex brokers 2022. Let the journey to excellence begin! Given the details, it is evident that HotForex.com outperforms, which is why we have placed it on top of our list. It is a multi-awarded platform with a meager fee. The platform offers 150+ products and 17 advanced analytical tools to facilitate traders. Critical aspects such as security of the funds and personal expert advisors are included in the service.