Best Forex Brokers for 2022

FxBrokersRanking Research
  • Pepperstone
    Saxo Bank
    Ig Group Logo
  • Cmc Markets Lg
    Xtb 1 broker
  • Ic Markets

Are you looking for your first Forex broker or second because you’re disappointed in the first? There are a lot of websites showing different tables with digits that probably mean nothing to you. They are just data that shows hypothetical parameters in perfect conditions.

Unfortunately, the FX market is far from that perfect condition. Finding the best Forex broker for you is not a simple task. A large amount of your trades will be opened, closed in a large market movement which happens during the news. In such moments broker parameters are far beyond all that parameters shown in the tables. The parameters can’t show you how will be your overall experience with support, or with the finance team. For example, your broker can have an awesome trading environment, but to be not regulated and dangerous. To help you with your choice, we tried to make one complete review of the most popular Forex brokers in the industry and choose the best Forex brokers from them.

Do you expect a strong dollar and a weak euro or do you know how the pound will be affected by Brexit? Then the Forex market is for you. You can trade all major currencies such as EUR/USD, GBP/USD, USD/JPY and also all the minors and crosses around the globe.

If you want to trade in the Forex market, you need to use a broker. The right choice can significantly increase your performance by minimizing transaction fees. There are also factors such as execution speed, platform type, and options.

Sometimes even the best broker is not suitable for a certain style of trading, so you will have to look for a broker knowing what you need. So when our team is looking for a broker, we take in mind several trader profiles - from the casual trade to an algo trader.


The transaction fees affect every trade, they stack up and after hundreds of trades, they make a huge difference:

  • Spread (Ask-Bid): The spread is different in all the brokers and also it can vary depending on the market state (news, low liquidity hours, swap time);
  • Commissions: some brokers have bigger commissions, some have lower and some don't have, but this is an important factor;
  • Slippage: Forex market is very fast and every time we send a trade this price can change and our trade can be executed at a different price.
    The difference between this two prices is called slippage and based on the technology used by the broker this can vary in a very big range;
  • Swaps: All the national banks have a very specific interest rate, but the rollover for the forex pairs can vary in the different brokers. Having a smaller difference between long and short swaps or having the best swap for the direction you trade is important.

Again, the trading style is very important. If you make one buy&hold trade - spread, commissions, and slippage will not affect your trading and only swap matters. But if you are an intraday trader and open and close many trades, then it the opposite - the swap is not important and the spread, commission, and slippage play a major role.

IG Markets

IG Markets Broker
IG is offering competitive forex spreads, good swaps, but if you are interested in something more than forex, they can offer you a huge amount of shares and stocks. You can trade with spread betting accounts to improve your tax efficiency, use margin for trading shares, low currency conversion fees, and you will have direct market access to be able to see the market depth and all the order book info available.
IG Markets Review


Alpari Broker
Alpari PRO ECN MT4 and ECN MT5 accounts are offering one of the lowest spread on EURUSD - only 0.7 points. Many brokers claim that they offer spreads as low as 0 points on their ECN accounts but they require the average commission of 3.5$ for  each direction. This combined with the fact that there is no 0 spread, makes it close to 0.9 points. In Alpari, there is no such commission and 0.7 is the average spread you will get.
Alpari Review

IC Markets

IC Markets Broker
If you are a long term trader, you must check this broker swaps. It is offering one of the most attractive swaps in the forex market for EURUSD. It offers 0.49 for short and only -0.90 for a long position. For example, Alpari offers 0.35 for short and --1.26 for long, XTB offers 0.35 for short, and  -0.96 for long. The broker is also offering competitive trading conditions, good spreads and some of the best trading platforms.
IC Markets Review

Top Forex Brokers by Trading Platforms

The trading platform is what connects you to your FX broker. Every platform can offer different features, different views, indicators, charts, instruments for automation trading, alerts and so on. 

Let's not forget that nowadays we have different Operation Systems, different devices who can do different things. The best thing is when a broker is offering several trading platforms so you can use the trading system that fulfills your needs the most.

But even if you need a specific sophisticated desktop platform you may need a simple mobile platform which you can use just to check things from your phone.


Pepperstone Broker
Metatrader 4/5 and cTrader are platforms that offer everything from manual trading to automated trading. There are a lot of social libraries, expert advisors, custom indicators, social trading integration. Both platforms MT and cTRader also support every device and operating system. Only the desktop platforms offer automated trading. Pepperstone is supporting both trading platforms, which gives the traders the opportunity to choose, change, or use what they are used to.
Pepperstone Review


Saxo Bank Broker
SAXO BANK are offering their own fully customizable trading platform SaxoTraderPRO. They offer innovative multi-monitor display (up to 6). There is a functionality for quick order placement, advanced charting elements, and level II market display. There is also one innovative feature - Algorithmic orders. They can be executed on specific user-defined conditions and they are integrated in the order. They don't require the platform to run. For example - you can have much more complex order management in MetaTrader, but you must have the platform running.
Saxo Bank Review

IG Markets

IG Markets Broker
The own web-based platform of IG Markets doesn't have automation abilities, but it is extremely user-friendly. Even if you are new to financial software, you will know what to do. The other plus of that platform is that it is fully customizable. You can quickly change it from a simple trading platform for a beginner to a fully functional complex platform that can suit even the most advanced traders. The users of the IG platform will be able to access advanced tools like AutoChartist and PIA First. 
IG Markets Review

How to choose your Forex broker

The bad choice of your broker can turn your profitable strategy into losing one. You should choose a broker with relatively low costs - spreads, swaps, commission if there are any.

In addition, the platform has to be good enough to allow you to place orders fast, support different orders and a rich amount of different trading instruments. If you are a fan of algorithmic trading, find a broker that supports such type of trading and has a good possibility for back-testing to develop a profitable system. If you are a manual trader and follow technical analysis, it is better if the platform supports a variety of indicators. For the traders that use fundamental analysis, the broker needs to have a big amount of data. Fast news announcement also is very important.

Depending on the importance of leverage for your strategy, check this too. According to the latest regulation in the European Union, there is an applied cap for the leverage for retail traders. There is a similar restriction in United States and Japan. If you search for higher leverage you should search between Australian brokers or some of the offshore brokers.

Last but perhaps one of the most important things when choosing a Forex broker is the regulations. The regulations protect you if you disagree with your broker for execution or any other problem you may complain to the regulator and it is important how strong the jurisdiction of the regulation is.

Forex Brokers Ranking

Looking for an independent and professional Forex brokers review? Our researches will help you find a broker supporting all financial instruments you may need. It will also help you choose the best trading platform for your manual or automated trading.

Disclaimer: Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. Please note that do not provide any kind of financial advices or recommendations.

Advertiser Disclosure: is free for everyone, but earns a commission from some of the brokers. We get a commission, with no additional cost to you.

Useful resources:

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