The 9 Best Forex Brokers of 2022

Are you looking for a Forex broker? In the foreign exchange market, there are a lot of brokerage firms. Finding the best broker can be tedious and time-consuming. For this reason, we have created this list of Forex brokers. This article includes a list of over 70 forex brokers operating in most countries of the world.

Here is the list of the best forex brokers. They are the best brokers for forex trading with which you can speculate on the price of over 200 Forex currency pairs such as major pairs (EUR / USD, GBP / USD, USD / JPY, or EUR / GBP) and other more exotic currency pairs. This list will help you choose the best FX broker following your selection criteria such as minimum deposit, leverage, or compatibility with the best forex trading platforms like MT4 and Metatrader 5.

Top 9 Best Forex Brokers

BrokerMin. depositECNLeverageMT4MT5BonusRegulatorwebsite
XM group$10≤888:1
$/ 25 Euro FCA, CySEC, ASIC, DFSA, IFSCVisit Broker
78.04% of accounts lose money
FCA, CySEC, ASICVisit Broker
68% of accounts lose money
IQ Option$10≤500:1
CySECVisit Broker
78.04% of accounts lose money
Plus500 $100≤30:1
FCA, CySEC, ASICVisit Broker
72% of accounts lose money
CySEC, FSCVisit Broker
Your capital can be at risk
IC Market$200$200≤500:1
CySEC, ASIC, FSA Visit Broker
72.2% of accounts lose money
$/ 30 Euro IFSCVisit Broker
58.42% of accounts lose money
FSCA, FSCVisit Broker
Your capital can be at risk


Best Forex Broker and Platform 2024

  1. Avatrade – Best Overall
  2. XM – Best Forex Micro Accounts
  3. eToro – Best Forex Copy trading Platform
  4. IQ Option – Best Forex Currency Choice
  5. BDSwiss – Best MT5 Forex broker
  6. Plus500 – Best App and Web Platform
  7. IC Markets – Best for Tight Spreads
  8. Roboforex – Best Free bonus
  9. Exness – Best for High Leverages


The advantages of Avatrade:

  • Multi-regulated Forex broker
  • Free $ 100,000 demo account
  • Competitive spreads from 0.9 pips
  • Scalping and Hedging allowed
  • MT4 / MT5 trading platform
  • STP and OTC broker
  • 24/7 customer support

(Risk warning: Your capital can be at risk)

Based in Dublin, Ireland, AvaTrade is one of the best forex brokers. This broker began its activity in 2006 under the name AvaFX and allows trading a multitude of assets, including forex currencies, CFDs and vanilla options.

The AvaTrade broker has many satellite offices in Europe and the Asia-Pacific region and is regulated by many regulators around the world. However, like many forex brokers, AvaTrade does not provide any services to traders residing in the United States of America.

AvaTrade provides these clients with up to 55 forex currencies pairs with ultra-low spreads and offers a wide selection of trading platforms like AvaTradeGO, MetaTrader 4/5, WebTrader, AvaSocial, and AvaOptions.

Avatrade is suitable for manual trading strategies as well as automated trading strategies.

Opening a trading account is easy and only requires a first deposit of $ 100. Additionally, AvaTrade is one of the best brokers offering negative balance protection, so you never have negative balance issues when trading with leverage.


The advantages of XM:

  • Regulated forex broker
  • Free $ 100,000 demo account
  • Competitive spreads from 0.6 pips
  • Minimum deposit of only $ 5
  • Free access to Forex trading signals
  • Micro trading accounts
  • Automatic trading strategies allowed
  • Scalping and Hedging allowed
  • MT4 / MT5 trading platform
  • 24/7 customer support

(Risk warning: 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.)

XM is a broker that has been operating since 2009, XM is one of the most trusted and regulated forex brokers and provides online brokerage services in over 196 countries.

XM has different regulated branches. Particularly in Cyprus and is regulated by CySEC as well as other offices serving clients in Australia, UK, Belize, as well as authorized online broker licenses in Dubai and the MENA region.

This online broker provides advanced trading solutions suitable for novice traders as well as experienced traders. This forex broker offers over 1000 trading instruments, up to 55 forex currency pairs available with leverage of up to 888:1 and spreads as low as 0.6 pip.

This broker offers also many advantages such as no deposit bonuses, free access to forex trading signals as well as a Free VPS server to increase the speed of your transactions and take full advantage of your Expert Advisors and automatic forex trading strategies.

With this broker, your forex trading account can be opened with a deposit of only $ 5. XM also offers a wide range of educational materials and webinars to deepen your knowledge of the market if you are new to the world of online trading.


The advantages of eToro:

  • Regulated and licensed Forex broker
  • Copy trading and social trading
  • Free $ 100,000 demo account
  • Easy to use mobile trading app
  • Fast execution of transactions and high liquidity provided
  • Safe and fast payment methods (bank transfer, PayPal, credit card, electronic wallets)
  • 24/7 customer support

(Risk warning: 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.)

eToro is a broker offering forex brokerage services as well as other asset classes including CFDs, stocks, and ETFs. This broker started its activity in 2006 and now operates in more than 140 countries around the world. The company has headquarters in UK, Cyprus, US, and Australia.

In addition to forex, eToro allows you to trade a wide range of assets and investment products, among which we find stock market shares, forex currencies, commodities such as gold, ETFs, and 15 cryptocurrencies, This broker allows you to trade some of these assets via contract CFDs as well as others as real assets like stocks or cryptocurrencies if you invest without leverage.

eToro is a very popular online broker, especially for its social trading functionality. Social trading is an innovative feature invented by eToro. This feature combines a social media-type environment where traders can share their trading opinions and ideas. Social trading also allows the trader to check the performance of other traders in the network, as well as to automatically copy their strategies thanks to the CopyTrader ™ and CopyPortfolios ™ function.

IQ Option

The advantages of IQ Option:

  • EU Regulated Forex broker
  • Minimum investment of only $ 1
  • Minimum deposit of 50 Euros
  • Leverage up to 1:30
  • Competitive spreads
  • Intuitive and easy to use trading platform
  • 24/7 customer support

(Risk warning: CFDs are comlex instrument and comme with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money)

IQ Option is one of the best forex and CFD brokers, thanks to the quality of its services and its reliability. IQ Option is an online broker regulated by the Cyprus Securities Exchange Commission (CySEC) and operate under the name of IQOption Europe Ltd.

IQ Option offers the possibility to trade over 30 forex currency pairs, with leverage of up to 1:30 and a minimum investment of $ 1. This forex broker is not compatible with the main MetaTrader 4 and MT5 trading platforms, however, the IQ Option trading platform is easy to use and has many tools and functions similar to the MetaTrader trading platform.

IQ Option recently introduced Forex Margin Trading on its platform. If you’ve never heard of it before, can dramatically change your perception of Forex trading and the associated profits.

The IQ Option developers made some significant changes to its Forex trading platform to make it easier to use and intuitive to navigate.

The main change with the new Forex platform at IQ Option is the possibility to trade in lots rather than just monetary amounts. This is a more classic and standard way to trade forex. In addition, traders can now set the Stop Loss and Take Profit levels in pips rather than setting the percentage auto close.

The new interface provides traders with more information about their active and pending positions. This makes them easier to manage.

Forex on Margin allows traders to manage larger positions using margins. This allows traders to trade with low amounts while still making large profits. Forex on Margin can be a great way for you to diversify your trading portfolio while increasing your profit potential.

You can now test IQ Option’s new Forex trading platform on a free demo account to see if it works without taking any risks.


The advantages of BDSwiss:

  • Regulated forex broker
  • Spreads from 0.0 pips
  • High leverage 1:500
  • Trading signals
  • Free demo account
  • 24/7 customer support

BDSwiss was founded in 2012 is a broker regulated by the Cyprus Securities and Exchange Commission (CySEC) This forex broker offers access to trading on more than 1000 assets including Forex currency pairs, stocks, commodities, and indices with competitive spreads.

BDSwiss offers three types of accounts among which we find Classic, VIP, and Raw accounts as well as Islamic trading accounts which all have different fees and conditions. This forex broker is compatible with the main MetaTrader 4 and MT5 trading platform as well as the WebTrader platform.

In the list of available currency pairs, You have the option to trade up to 51 major, minor and exotic forex currency pairs with spreads as low as 0.0 pip.

You can make your deposits and withdrawals for free through a variety of payment methods such as debit/ credit cards, PayPal, Skrill, Neteller, wire transfers, and more. Overall, Bdswiss is a versatile forex broker that will suit most forex traders with favorable fees and spreads and a wide range of forex currencies.


The advantages of Plus500:

  • Multi-regulated forex broker
  • Intuitive mobile trading app
  • Wide ranges of forex currency pairs
  • Free demo account
  • Broker listed on the London Stock Exchange
  • Competitive spreads and no hidden costs
  • 24/7 customer support

(Risk warning: 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.)

Plus500 is one of the best forex brokers in our comparison. This online broker is listed on the London FTSE and is regulated by the most serious financial market regulators such as the FCA, CYSEC, ASIC and FSCA.

Plus500 offers these clients the ability to trade 70 forex currency pairs with average spreads of 0.8 pip.

The Plus500 broker is recognized among traders around the world for its particularly well-designed trading platform and mobile trading applications. The main disadvantage of this broker is that it only offers CFDs.

However, Plus500 is a great, intuitive trading platform with a clear and very useful mobile application. This broker is perfectly suited for beginners as well as for professional traders.

IC Markets

The advantages of IC Markets:

  • Regulated forex broker
  • Raw Spreads from 0.0 pips
  • High leverage 1:500
  • 0.01 Micro lot trading
  • Free demo account
  • Scalping allowed
  • Automatic trading strategies allowed
  • 24/7 customer support

IC Markets is a worldwide forex broker that started its activity in 2007. This forex broker is a broker regulated by several regulators including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Seychelles Financial Supervisory Authority (FSA).

IC Markets has competitive fees and is particularly suitable for scalpers and high-frequency algorithmic traders, as well as forex traders who require low latency and very fast execution.

This broker provides 61 forex currency pairs with an average spread of 0.1 pip.

Overall, IC Markets is a particularly recommended broker for forex traders using automated trading strategies on the MetaTrader and cTrader platforms. This broker also provides a large selection of research and educational material and offers very competitive spreads.


The advantages of Roboforex:

  • Regulated Forex broker
  • Tight spreads starting from 0.0 pips
  • High leverage up to 1:2000
  • 0.01 Micro lot trading
  • ECN Accounts
  • Order execution from 0.1 second
  • 24/7 customer support

RoboForex is one of the main forex brokers of the market. Since 2009 this broker provides online brokerage services in 169 countries. This forex broker has won many prestigious awards and has an international brokerage license to provide these brokerage services in most countries around the world and has a European license from CySEC.

RoboForex allows you to open different type of trading account including Cent Accounts, ECN Accounts, Prime accounts, and Islamic Accounts. This broker is compatible with many trading platforms, including MT4 and MT5 platforms from Metaquotes Software.

For forex trading, Roboforex offers a total of over 40 currency pairs, including major currency pairs EURUSD, USDJPY, GBPUSD, and EURGBP with tight spreads starting from 0.0 pips and with leverage up to 1:2000 regardless of the types of accounts. Traders opting for micro accounts can trade with a minimum lot size of 0.01 .


The advantages of Exness:

  • Regulated forex broker
  • 107 currency pairs available
  • Tight spreads starting from 0.1 pips
  • High leverage up to 1:9999
  • 0.01 Micro lot trading
  • Scalping allowed
  • Automatic trading strategies allowed
  • Order execution from 0.1 second
  • 24/7 customer support

Exness is a forex broker holding numerous online brokerage licenses in different jurisdictions including UK, Cyprus, South Africa, Mauritius, BVI, Seychelles, and Curacao.

The Exness broker is recognized as being a stable and reliable online broker ideally suited to the retail and professional forex trader, allowing them to trade in a comfortable trading environment.

Exness offers the possibility for the forex trader to trade up to 107 currency pairs with tight spreads starting from 0.1 pips with no hidden fees or commissions. This broker is compatible with the MT4 and MetaTrader 5 trading platforms.

Exness offers different types of accounts, including Standard and Standard Cent trading accounts.

Standard-Cent forex account is for any type of trader. Raw Spread, Zero and Pro accounts are suitable for the most experienced forex traders. These account types offer super-low or even no spread, as well as fast order execution to meet the needs of Scalpers, Day Traders and Algotraders.

To trade forex, it is essential to open an account with a brokerage house that gives you access to forex trading. The best forex brokers give you access to the forex market as well as trading tools, offer fast order execution and allow trading through trading platforms specially designed and adapted for online Forex trading.

The best forex brokers also offer reliable deposit and withdrawal facilities, are regulated by regulatory bodies, and allow you to trade the currencies you want to trade.

We have tried out most of the best forex brokers in USA and around the world, and have listed our most recommended forex brokers here.

We have chosen these brokers on the basis of various criteria such as low prices, available trading tools, the currencies offered, the quality of the data and charts as well as the speed of execution of the orders. So here is our list of the best forex trading platforms.

Our selection criteria to choose the best forex broker

There are many comparison sites out there, unlike many other websites. Our comparison site only features the best broker for forex trading and the ones that give the best trading conditions for traders. With many years in this industry, our team of experts has used and tested many forex brokers. A good forex broker is always endowed with characteristics that ensure both good trading conditions and the security of your funds.

These days, there are a lot of scams on the Internet. It is therefore essential to choose a trusted forex broker with whom your money will be safe and available when you need it. In addition, as a forex trader, saving on fees is important because these costs impact actual profits. Regulation is also an important criterion and a guarantee of the reliability of international forex brokers.

All these crucial criteria in the selection of the best broker for forex trading are included in this test. Therefore, we prepared on this page a list of the best Forex brokers.

Criteria for selecting the best broker for forex trading:

  • Regulation by an official financial market regulatory body
  • High security of funds
  • Quick deposit and withdrawal methods
  • Fast execution of market orders
  • Reduced fees on Forex trading and no hidden fees
  • No re-quotes and slipage (high liquidity)
  • Intuitive trading platform
  • Free and unlimited demo account
  • Professional customer support

Forex Broker Regulation

The regulation of the broker is one of the most important criteria to consider in order to guarantee you a scam-free trading experience. Regulation is governed by official regulatory bodies around the world and helps protect investors from bad practices and scams by dishonest brokerage houses. The most reputable regulatory bodies are the Commodity Futures Trading Commission (CFTC) of the United States of America, the Financial Conduct Authority (FCA) of the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC) of Cyprus and the Australian Securities and Investments Commission (ASIC) of Australia and the Financial Sector Conduct Authority (FSCA) of South Africa. There are also other regulators around the world that regulate the forex and financial markets, but the ones mentioned in this paragraph are the best known and most reputable.

FCA Forex regulator
CySEC Forex regulator
ASIC Forex regulator

Security of your Funds

The security of your funds is also a criterion not to be neglected. It is important to make sure that the broker you are trading with has secure access to their platform and keeps your money safe in separate bank accounts. The best brokers are always up to date when it comes to their platform security and client protection requirements.

Quick and Easy Deposit and Withdrawal

Check that the platform has payment methods available to you. Not all forex brokers have the same method of deposits and withdrawals. It is important to check the options available to make sure you can make quick deposits and withdrawals on the platform. Some brokers offer a wide variety of payment methods like Paypal, Skrill, Neteller, Visa, and MasterCard debit and credit cards and more, while other brokers are more restricted on the payment methods offered. In general, you can find all the information relating to the deposit and withdrawal on the official website of the broker.

Payment methods of a Forex Broker

Fast Orders Execution

The speed of order execution is also an essential criterion because we want our trades to be executed quickly and without delay and at the best price. For these reasons, and it is better to choose an FX broker offering a great speed of execution of the orders to avoid the problems relating to the delays in forex trading.

FX Broker Fees

As a forex trader, Fees can have a big impact on your profits. Paying large brokerage fees will result in less profit in your pocket and greater difficulty in being a profitable trader. Some forex brokers charge a lot of fees and are mediocre while others have low fees and offer high-quality services. Privilege the brokers with low fees, tight spreads, and a high level of services.

High Liquidity

Liquidity is very important to avoid slippage and order execution issues in forex trading. The best forex brokers generally offer high liquidity in the market. This guarantees a slippage-free forex trading experience, no requotes, and allows you to enter and exit quickly to take your profits.

Good Forex Trading Platform

The broker gives you access to the market via a trading platform, it is always important to see that the platform provided suits you and has all the functionality you are looking for. Some brokers have their own trading platform while other brokers allow you to link popular trading platforms among forex traders like the Metatrader 4 and MT5 platform from MetaQuotes software.

Free Forex Demo Account:

All the best forex brokers offer free demo accounts in order to discover their platform and test forex trading without the associated risk. You can use these forex demo accounts to test brokers, practice FX trading with virtual money and discover all the functions offered by FX brokers without spending a single penny.

Customer support

Customer support is also to be considered. In the event of a problem or difficulty with your broker, the customer service representative could be of great help to you in helping you resolve any problems relating to the use of the platform. Customer support can also help you report any technical problems to a team of qualified technicians, who will make sure the problem is repaired as quickly as possible.

More Forex Brokers Reviews

BrokerMin. depositECNLeverageMT4MT5Bonuswebsite
AvaTrade$100≤400:1 Visit Broker
XM group$10≤888:1 $/ 25 Euro Visit Broker
eToro$200≤30:1 Visit Broker
68% of accounts lose money
IQ Option€50≤30:1 Visit Broker
Plus500 $100≤30:1Visit Broker
BDSwiss$100≤500:1 Visit Broker
IC Market$200$200≤500:1Visit Broker
Roboforex$10 / 0.001₿$10 /0.001₿≤2000:1$/ 30 Euro Visit Broker
Exness$1$300≤9999:1Visit Broker
Alpari$200$300≤1000:1Visit Broker
FBS$1≤3000:1 $70 Visit Broker
Hotforex≤1000:1Visit Broker
Instaforex$1≤1000:1$500Visit Broker
FXTM$10$500≤1000:1 Visit Broker
Liteforex$10≤1000:1Visit Broker
FX Choice$100 / 0.01 ₿$100 / 0.01₿≤200:1Visit Broker
AMarkets$100$200≤1000:1Visit Broker$100≤50:1 Visit Broker
Admiral Markets$1≤500:1 Visit Broker
Vantage Fx$100$500≤500:1Visit Broker
FXpro$100≤500:1 Visit Broker
FreshForex$1$1≤2000:1$2021Visit Broker
LQDFX$20≤2000:1Visit Broker
FXOpen$1 / 0.0001₿$100 / 0.01₿≤30:1$10Visit Broker
NordFX$5$1000≤1000:1Visit Broker
JustForex$1$100≤3000:1Visit Broker
FP Market$100$100≤500:1Visit Broker
Blackbull Markets$200≤500:1Visit Broker
FortFS$5$500≤1000:1$35Visit Broker
ForexMart$1≤500:1 Visit Broker
LMFX$10≤1000:1Visit Broker
XTB ≤200:1 Visit Broker
FXGlory≤3000:1Visit Broker
FiboGroup$1$50≤1000:1Visit Broker
OctaFx$100≤500:1Visit Broker
IFC Markets$1000≤400:1Visit Broker
Pepperstone$200$200≤500:1 Visit Broker
TradersWay$1$50≤1000:1Visit Broker
Fortrade$100≤200:1 Visit Broker
Tickmill$100$100≤500:1 $30Visit Broker
FXCM≤400:1 Visit Broker
AM Broker$100$1000≤500:1Visit Broker
SuperForex$1≤1000:1$88Visit Broker
Axi$1≤400:1Visit Broker
ForexChief$100≤1000:1Visit Broker
GrandCapital$10$500≤2000:1$500Visit Broker
NPBFX$10≤1000:1Visit Broker
NumberOne CM$5≤1000:1Visit Broker
OlympTrade$10≤400:1Visit Broker
Land-FX$300$2000≤500:1Visit Broker
SimpleFX$1/0.0001₿≤500:1Visit Broker
Cityindex$100≤500:1 Visit Broker
Orbex$200$500 ≤500:1Visit Broker
Weltrade$25≤1000:1Visit Broker
Globex360≤500:1Visit Broker
Go Markets≤500:1 Visit Broker
ThinkMarkets$2000≤500:1 Visit Broker
TigerWit$50≤200:1 Visit Broker
Tifia$10$500≤1000:1Visit Broker$50$200≤500:1$15Visit Broker
HF Markets$50≤30:1Visit Broker
IronFX$100≤1000:1Visit Broker
HYCM$100≤500:1Visit Broker
Derive$5≤1000:1 Visit Broker
FXprimus$100$100≤1000:1 Visit Broker$20≤30:1Visit Broker
Libertex$100≤30:1Visit Broker
Trading212$150≤20:1 Visit Broker$100≤300:1 Visit Broker
Naga$250≤30:1Visit Broker
Easy Markets$100≤400:1 Visit Broker
NSFX$300$3000≤200:1 Visit Broker
FXgiants$100$200≤1000:1 Visit Broker
RoboMarkets$100$100≤30:1 Visit Broker

Risk Warning: Your capital may be at risk. CFD trading involves a high risk of losing money quickly due to the leverage that is offered to you. Between 58% and 89% of retail investor accounts lose money when trading CFDs with these providers. Before you start trading CFDs, make sure that you understand how CFDs work and that you can afford to take the high risk of losing your money.


What is forex trading?

Forex trading, or also called foreign exchange or FX trading, consists of buying and converting one currency against another currency. Most forex traders trade forex to capitalize and generate profit on fluctuating currency prices. Forex is one of the largest and most liquid financial markets in the world and can represent over $ 5,000 billion in terms of volume traded each day. The foreign exchange market is done over the counter and is totally decentralized, for these reasons it is always reasonable to spend a little time analyzing and looking for a serious Forex broker following your criteria and adapted to your needs as a currency trader.

Who needs a forex broker?

Every forex trader needs a forex broker. The forex currency exchanges are carried out on international exchanges which only brokers can carry out transactions. You must therefore go through intermediaries of a forex broker to be able to trade forex.

What is a broker in forex?

A broker in forex gives access to the forex market to a client (trader) and acts as an intermediary between the interbank currency market and its client. Forex brokers can also lend capital to traders so that they can leverage their trading positions. In general, most forex brokers earn money through the difference between Bid and Ask prices (spreads) and the commission charged on leveraged positions. Some FX brokers may also charge other fees such as conversion fees, management fees, or inactivity fees.

What is the best forex broker?

There is no one best forex broker for everyone, it will depend on your personal preference. However, the best forex brokers are generally regulated by official regulatory bodies and offer their clients a wide range of currency pairs, have low fees and tight spreads, and have reliable and fast deposit and withdrawal methods. These brokers also have a trading platform with everything a forex trader is looking for. For more help in choosing a broker, you can go look and compare them via our list of the best forex broker on this page.