Best Forex Brokers in the World for 2022

logomark Filippo Ucchino calendar Last Updated: January 2022 timer 24 min read
Top Rated:

At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

InvestinGoal’s team of industry experts try out and evaluate a vast range of forex brokers based in various countries around the world according to the same core factors. This way, we are able to offer our audience unbiased, logical and valuable reviews with no bias, that help you in understanding not which is the best broker in the world, but which is the best for your specific needs and trading style.

Over time, we have created several lists and comparisons on the top forex brokers in every category. This review aims to gather the best of the best, the most reputable and trusted forex brokers in the world which excel in the quality of their services.

This list isn’t in order of ranking, instead, it’s a round-up of the most popular forex trading brokers based on those that are well-regulated, legitimate, and reliable for trading.

In fact, when you are trading with any online fx broker, you are actually trading with CFD brokers. This is because most of the online brokers offer forex pairs as CFDs along with their other assets. This means, as with all CFDs, that you do not own the underlying asset itself.

Round-up of the best forex brokers in the world


CFDs are complex instruments and come 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 can afford to take the high risk of losing your money

Best Brokers Best For Minimum Deposit
IC Markets Overall Trading Experience No minimum deposit
Pepperstone Day Trading No minimum deposit
AvaTrade Fixed Spreads $100
XM No requotes $5 For Liquidity $50
FxPro Customer Service $100
Plus500 CFD Trading $100
Oanda Beginners No minimum deposit
IG Markets Total Number of Assets $300
Saxo Bank Professional Traders $3000
Table of contents

Top 10 list of the best Forex brokers in the world

Here is our top ten best FX brokers review for 2022:

IC Markets, founded in 2007 and based in Sydney, is the first Australian forex trading broker, and one of the biggest in the world, particularly growing in popularity in recent years. IC Markets is renowned for its cutting-edge ECN technology, a factor that has enabled it to become one of the best brokers in terms of spread. For this reason, IC Markets is often the first choice for scalpers and day traders, i.e. traders with a high volume of daily operations.

Added to this attraction is the fact that IC Markets are very well-regulated by ASIC and CySEC, two of the most recognized regulatory bodies in the forex trading industry. They also boast some of the very lowest spreads for forex traders. This means that the spreads start from 0 pips on trading in many major markets. IC Markets also offer lightning-fast order execution which has them widely considered as one of the best brokers for forex trading.

Visit Broker
74-89% of retail CFD accounts lose money

Founded in 2010, Pepperstone has quickly become one of the largest and most important Australian brokers (in 2016 they reported an annual growth of 20% each year). Their headquarters is in Melbourne, but they also have offices in Dallas and Shanghai. The most important Pepperstone feature is without a doubt the ECN trading system, one of the best in the industry. Pepperstone offers various types of accounts to fill all client’s needs, from the average trader, to the higher volume traders, EA users, and more.

There are various account types, including the Standard account, the Razor, the Swap Free account, and the Active Trader Program account. These accounts are available with MT4, MT5 and cTrader trading platforms. Another benefit to note is the broker’s partnership with Equinix, a Nasdaq company. They are a financial network placed near Wall Street, a strategic place to be able to get the best prices. Thanks to this partnership, Pepperstone can offer very low spreads starting from 0 pips.

Visit Broker
74-89% of retail investor accounts lose money when trading CFDs

AvaTrade are a top international broker based in Ireland who are well regulated there and in Europe by the Central Bank of Ireland. They are one of just a few top trading brokers to offer fixed spread trading opportunities. At AvaTrade you have a choice of account types that includes a retail account for standard trading, an account for options trading, and a dedicated spread betting account.

The minimum deposit across the board here is an accessible $100 and both demo accounts and an AvaTrade Islamic account are available. You can fund your account through a wire transfer, credit card deposit, or eWallet and most of these methods feature no fees. When you are trading, you have the choice of MT4, MT5, or Webtrader, and the fixed spreads mentioned start from 0.9 pips.

Visit Broker
79% of retail investor accounts lose money, founded in 2009 in Cyprus, is one of the largest forex brokerage firms in Cyprus, and the XM Group enjoys a high level of client retention. They have had an important rate of growth in recent years. In terms of platforms, XM only offers both MT4 and MT5, and over 99% of all trading orders are executed in less than one second, with no re-quotes and no rejections. They can also potentially offer very high leverage of up to 1:888 (under IFSC) that can appeal to some.

Added to these positives are the fact that provides a wide range of deposit methods, currencies, and available base currencies to choose from. You can also get started on a range of five different account types. The minimum deposit on these account types can be very competitive starting at just $5 for standard and micro-accounts, $50 for XM Ultra Low, $100 for XM Zero, and rising to $10,000 if you want to open a shares account. Please note that these last three account types are not available to all the entities of the Group.

Visit Broker
73.57% of retail investor accounts lose money, founded in 1999 in New Jersey, a subsidiary of the parent company Gain Capital, is another attractive alternative for US customers. Thanks to the closure of the US market to foreign competition, it is now the largest broker in terms of daily trading volumes. In addition to size, is also distinguished by a large number of regulatory bodies around the world it complies with. These include some of the most respected in the form of FCA and ASIC and are an indication of their high level of safety and professionalism.

In addition to MT4, customers can also access the GTX – Forex ECN (for large or institutional clients). Trading with the broker you will also be pleased to find that the minimum deposit stands at only $50 for an account. This is considered low in the sector, with the broker also offering fixed spreads if you are trading on commodities.

Visit Broker
73% of retail investor accounts lose money

Founded in 2006, the English broker FxPro has always been one of the key brokers in the NDD category, a category popular with many brokers. Speaking of award-winning currency brokers, FxPro has won several accolades over the years for its MetaTrader and cTrader trading platforms. In fact, FxPro are one of the most decorated in the sector having won more than 70 awards over the years.

FxPro also proposes several new technologies that make it a very state of the art broker from this point of view, particularly for those users who prefer automated trading. Services like their Algo Algorithmic Trading, FxPro Library, FxPro Quant Strategy Builder and FxPro VPS are definitely worth trying if you want to automate your strategy.

Visit Broker
75.54% of retail investor accounts lose money

Plus500 is a CFD Provider, market maker type of forex broker. With Plus500, in addition to the major forex currency pairs, you can access around 2000 tradable CFDs. Plus500 does not offer trading through the classic MT4 or MT5 platforms, but only through its own web, desktop and mobile platforms, expressly designed to improve the CFD trading experience.

Plus500 offers you, as a forex trader, both fixed and floating spreads, depending on the assets you are trading. The Plus500 minimum deposit for you as a forex trader is a flat $100. Before you make this deposit, you are also free to check out their full unlimited demo account. This can really help you in getting to know the proprietary trading platform that is on offer from this top broker.

Visit Broker
72% of retail investor accounts lose money

Broker of Canadian origin, founded in 1995, Oanda is among the biggest players in the Forex market. It has been estimated that about 20% of spot forex daily operations pass through the Oanda servers. In addition to the classic MT4, Oanda provides its own WebTrader with which you can operate with a Cent Account, i.e. you can trade with very little quantities (fractions of micro-lots).

This feature helps with money management and even allows you to open accounts with as little as $10 and the accounts here feature no minimum deposit, making it a great choice for new forex traders. Overall, the comprehensive regulation and excellent range of choice particularly in the forex area, makes Oanda a top broker in the sector.

Visit Broker
73.50% of retail investor accounts lose money

Among the “old English brokers” in the industry, founded back in 1974, IG Markets is renowned for the reliability and the quality of service it offers traders. They are among the brokers with the highest number of CFDs an investor can have access to, more than 16,000 to be precise. Until a few years ago this broker was one of the few not supporting the MetaTrader platform and instead only supported ProRealTime. Today though, it also integrates the most popular MT4 and the L2 Dealer to better meet the needs of many customers.

IG markets are well known for their top-quality education section. This offers 60 free trading lessions, a host of webinars, and more, making it the ideal place for new and experienced traders to improve. The minimum IG Markets deposit is $300, which may seem comparatively high, however for that, you get access to the huge IG CFD market which includes 90 forex pairs with a spread starting at 0.6 pips.

Visit Broker
76% of retail CFD accounts lose money

Saxo Bank is not just a regulated forex broker, but a bank too. This broker, a Danish company founded in 1992, is definitely not for all budgets. Once inside, however, you can have access to a broker with very high levels of professionalism and the ability to trade on real instruments such as futures, options, ETFs, shares, and bonds.

Saxo Bank offers three account types available where the minimum deposit starts from $10,000 and can reach up to a cool $1,000,000 for big-time trading depending on the account you choose. For this level of deposit though, you certainly get options. Saxo Bank provides you with a vast range of trading options with an excess of 40,000 assets to choose from. Beyond that, the spread is also not bad, starting at just 0.3% on some of the popular forex trading markets.

Visit Broker
72% of retail investor accounts lose money

Best Forex Trading Platforms

When choosing which of the leading forex brokers is right for you, you should also consider the trading platform options available. Here are some of the very best forex platform choices in the industry, and what they have to offer:

MT4 – MetaTrader 4

Many of the best forex brokers in the world offer the MT4 trading platform. It is one of the most common but also most trusted platforms you will find.

What makes this one of the best elections among traders is the fact it is light, efficient, and can run on almost any machine. It is also extremely robust and offers the deepest selection of charts and indicators that you will find anywhere. Added to that, MT4 allows you to engage in algo trading through their expert advisors feature. This means you can follow forex trading signals from the huge support community, implement trading robots, develop your own strategies, and much more.

This depth, combined with a trusted reputation, and ease of use, are just some of the reasons why MT4 is offered by the majority of legitimate trading brokers everywhere.

MT5 – MetaTrader 5

When it comes to trading platforms, MT5 is also top of the list with many referring to it as an improved version of MT4.

With MT5, you can expect more pending order types, an increase in the number of charting tools, and more markets to be available. All while keeping most of the same great features, including your ability to follow forex trading signals.
MT5 can typically cater for both the average forex traders and leading forex brokers who offer real stock trading, and other specific types of assets that are not always possible to trade through MT4.

The best forex traders though, if they are just sticking to solely trading forex pairs, typically tend to stick with MT4. Another reason behind this loyalty is that although most online brokers will offer both MT4, and MT5, the latter tends to be incompatible with many of the additional plugins, and features developed by the huge community of support behind MT4.


The next platform you will typically find with a trusted broker is cTrader, which again a very well-respected choice. It is visually appealing and light yet it still offers much of the same excellent technical capability in charting.

Forex trading brokers with a very fast order execution service tend to provide a cTrader platform option to facilitate this. This is one of the reasons why cTrader is a very popular choice for day trading or if you are a scalper, since both can really benefit from the very fast execution speeds.

Just like the MT4, and MT5, cTrader also facilitates you in following forex trading signals with Algo robots if that is something you are interested in doing.


Zulutrade is one of the best third-party services for copy trading, so should be on your radar if you’re interested in this trading strategy.

Most of the best-recommended brokers can be connected to your ZuluTrade account. Once you have checked that this is possible through the broker’s website, then you can copy some of the best forex traders in the world at the click of a button through their very user-friendly platform.

You can also be copied, and earn yourself a commission when others copy your trades. This allows you a great degree of flexibility when it comes to trading forex. Using ZuluTrade is very accessible too. You can open your account and connect it with your currency trading broker with just a $100 minimum deposit.


Getting into some of the best forex trading platform choices for more technical traders, Tradingview is used particularly with this focus. You can use this as a standalone trading platform, or it can be directly connected with some of the best-regulated brokers from our listing. These brokers will allow you to directly connect your account to the platform so you can trade directly from the Tradingview website.

With this platform, you can choose to use the free service they offer, or you can add additional services and features for a price that starts from $14.95 per month.


Another popular choice offered by many fx trading brokers is Ninjatrader. Again this is preferred by those who have a strong focus on technical analysis for which the platform provides well.

When it comes to your online broker, some will allow you to connect your account to NinjaTrader so you can trade directly from the platform website. In terms of pricing, you will have access to a free limited trial period. After this time, subscriptions are available from $400.

Top Forex Sites to learn Forex Trading

Choosing a trusted fx currency broker, and combining your online broker choice with a good trading platform are two great steps toward success. Education and continued development though are key. Here are some of the very best forex sites to become a top-notch trader:


This is a very well-known site in the industry particularly when it comes to their forex training section. Even though the best fx brokers will typically have excellent educational resources, Babypips features some very easy to follow content and clear examples. They also feature news updates, a detailed economic calendar, and have an active community forum you can engage with.

Forex Factory

When trading online using trusted forex brokers, it is still important to keep updated in the news. Forex Factory is great for this as well as monitoring the overall forex market. They too provide a useful economic calendar and a widely used forum for discussion.

Forex live

If you want a resource to improve your technical analysis, Forex Live may be the place. They provide a great daily market technical analysis which can add great depth to any offer. They also provide educational content, live charting capabilities, and an in-depth economic calendar which can certainly come in useful.


Another top choice for learning forex is DailyFX. This website offers access to an excellent level of trading education, including a great range of live webinars. They add to this with an array of trading ideas you can implement with any of the top online broker choices, and include extensive market data and analysis as well as lots of up to date news.


Udemy is a general education platform which has become one of the most popular in the world. Here you can access loads of free or paid courses for download (or watch directly on Udemy) from each user. The total number of available courses at present is more than 400 million. Of this, there are plenty of great forex trading courses to choose from. These courses are typically priced around the $15-$20 range and can cover a broad range of topics including stock trading, futures trading, technical analysis, trading techniques such as scalping or hedging, and much more.

How to search for the Best Forex Broker

When you are searching for the top brokerages, there are several important factors to consider. Usually, the most well-known and trusted forex trading broker options in the sector tend to be good all-rounders. This means the majority will cater to most of your trading needs.

If you have a certain preference or are seeking an online forex trading broker who specializes in a certain area though, you should certainly check our forex broker reviews to find out every last detail about the top-notch fx trading brokers in the industry. Here you can also benefit from our best forex broker comparison tool. This will help you choose not only the most trusted broker, but also the one which best fits your trading needs.


Broker Best for Regulations Awards won General Safety 6 35
FxPro Awards 4 70
IG Markets Experience 10 20

Security is a top priority when you are trading forex with any broker. This is why it is always important to choose a trusted currency broker from the very beginning. You are best to choose from regulated forex brokerage firms with oversight from the top-tier regulators in the sector. These include the FCA (Financial Conduct Authority) in the UK, ASIC (Australian Securities and Investment Commission) in Australia, ESMA (European Securities Markets Authority) in Europe, or the IIROC in Canada which is a strict financial regulator as we have explained in our top 10 Forex Brokers Canada.

Secure brokers should keep your funds in segregated accounts at the best banks, and many will offer negative balance protection if you are a retail investor. Some may also offer further insurance like the ICF in Europe and the UK. The more locally regulated a broker is relative to your location, the better. This means that if you do run into any problems, you should be able to solve them quickly, and directly.

Award-winning brokers with many years of operating experience usually always make for a good choice in terms of security.

Cost and Accounts

Broker Best for Min. deposit Min. spread
Pepperstone Trading costs $200 0.00 pips
XM Trading accounts $5 0.00 pips
AvaTrade Fixed spreads $100 0.60 pips (fixed)

Opening an account with an online forex trading broker is not without cost. Here we will take a closer look at what you can expect to pay.

Account Types

When you sign up with any of the top brokers from our list, you can expect to have several account types to choose from. This choice includes demo accounts which you can try out. Almost all legitimate fx brokers offer this kind of account where you can trade in real time and in a way that fully replicates real trading, but is risk free.

Also usually on offer with your online broker may be cent or micro accounts which are great for beginners since they facilitate trading at lower risk levels. Of course standard accounts will be available from all forex brokers, and Islamic accounts from many of the finest brokers caters for swap-free trading to those following Islamic laws.

If you are trading within the EU, you will also note that none of the currency brokers will offer account opening bonuses due to regulatory requirements.

Account Costs

There are some costs you may incur when you choose your online trading broker and open an account for the first time. Before you start trading with a real account, you must put down a minimum deposit with most of the top forex brokers. Minimum deposits typically average around $200 though there are many from online brokers below that which are very competitive too.

Other costs you might run into at your broker include fees on deposits and withdrawals, though not many of the best brokers featured charge these fees. Brokers will also cater for different base currencies. Here you should try to choose one which matches your bank account so you can avoid any conversion fees on foreign exchange when making a deposit or withdrawal.

Inactivity fees may also come in to play if you are not trading often though the time limits vary on this.

Trading costs

Even the best fx brokers in the world have some trading costs. These typically take the form of spreads which can be offered as variable or fixed spreads, with variable spreads being the most common. Commissions per lot can also be charged on some account types. Top-level brokers tend to offer spreads that are below 1 pip on major instruments like the EUR/USD, while there are low spread forex brokers offering spreads as low as 0 pips.

Other trading costs can be interest rates like the rollover fee which can be an issue if you don’t do day trading, but you keep your positions open for more than one day. This does not impact you on an Islamic trading account, though some online brokers may add a different type of fee to cover this.

Trading Features

Broker Best for Platforms Available Total Number of Assets
eToro Social Trading Proprietary 1200+
FBS Leverage MT4. MT5 90
IG Markets Assets Proprietary, MT4 10000+

Of course, when you are trading with some of the best, you will find a range of great trading features to help you along the way. Here is a closer look at what to expect and look for:

Execution Model

The execution model is the first area which can be confusing for some, and can certainly vary between FX trading brokers. The first thing to note is that there are a number of execution methods.

Each of these models has its own merits, and contributes in some way to your feeling on which is the best overall broker. The reality now though is that most brokers use a hybrid method of order executions which can change based on a number of factors specified by the individual terms and conditions of a broker.

When trading, you should know that Market Makers or dealing desk brokers both have their own internal market, while direct market access brokers provide a direct access to international markets.

Other terms you might hear when it comes to executions are ECN (Electronic Communications Network). This effectively connects all parties of an order through an electronic network, facilitating these forex trading brokers to offer some lightning-fast execution speeds.

STP (Straight Through Processing) brokers are similar to the DMA brokers mentioned in that there is No Dealing Desk and they do not form a counterpart to your order.

Trading tools and platforms

As mentioned in the earlier section, first-rate brokers will usually offer the best trading platforms available. This includes MetaTrader 4, MetaTrader 5, and cTrader as well as some of their own proprietary trading platforms. Desktop platform versions, web-based and trading apps for mobile trading are all usually on offer.

The best trading platforms will also typically offer a wide number of trading tools, and technical indicators for technical analysis as well as a number of different order types. Some online trading brokers may also offer premium advanced charting tools obtainable with higher minimum deposits or simply by being an active user.

All of these tools offered are in place to match your variety of trading needs and improve your chances of success.


Leverage can help you to trade at higher volumes without having to deposit huge amounts of your own capital. With that said, a trusted forex broker, and all of the best ones in the world will respect the maximum leverage amount set by regulators.

There is a max 30:1 on forex leverage available under ASIC as well as in the EU and UK for retail investors, and up to 400:1 for professional traders.

If you live outside these areas, depending on the broker, then the maximum leverage is typically around 400:1 for every trader, but this can stretch even higher in some cases to as much as 3,000:1. Just make certain that these are legitimate forex brokers by checking their regulation prior to trading.

Markets Available

FX brokers are typically multi asset brokers. They cater for major, minor, and exotic currency pairs as well as other CFDs like stocks. Some online trading brokers will also offer stocks as real and not CFDs, just like regular stock brokers.

Other markets available nowadays usually include CFD cryptocurrency and many more like commodities, indices, and bonds trading.

Social Trading, Copy Trading and additional features

These features are often offered by many currency brokers and can lead to some of the best overall broker options for you as a trader. With these features, you can copy other traders you like, or have your own trades copied by others to earn a commission. On the social side, you can also often interact with other traders.

Beyond this, some of them will also provide forex trading signals services for copy trading themselves or through a third party that you can follow. Widely respected as the best in class when it comes to social and copy trading are eToro, ZuluTrade, and NAGA.

Other techniques and features you may find at an online broker include those who allow scalping, hedging, and the use of trading robots. Most, but not all brokers, will allow these. Spread betting is not available in the EU, only the UK, and this is something else you may only find with certain brokers. If you’re interested in this kind of service, you should absolutely check what is the best app for forex signals.

Support, Education and Research

Broker Best for Total Languages Advanced Training
XTB Accademy 14 Yes
FP Markets Support 10 No
FXCM Research 10 No

These are three key areas within any forex broker, and they typically encompass several points.

When it comes to languages and customer support English, Spanish, and several other major languages are often supported by most brokers. They are typically available for both the website and customer service at a broker. This customer support is usually offered in a number of ways, through phone call, real time chat, and email.

When it comes to education, this too is a vital part. The best forex brokers for beginners are the ones offering low-risk micro accounts. This can combine well with a strong range of educational resources to provide the best setting for you to learn and grow.

Videos, tutorials, and trading platform guides are usually offered. These typically come alongside technical analysis, fundamental analysis tools and tutorials to help you develop that side of your trading knowledge.

The final key factor to consider when looking for a trusted broker is market research. These tools are provided by all the best in the industry and are key to understand and study if you are trading any asset.

Some of the best brokers will offer advanced research tools and allow you to connect your account with third party tools such as TradingView, though the least you can expect to find with any legitimate trading broker is a detailed economic calendar alongside some updated news, market analysis, and maybe a few other basic features.

Full list of the Best Forex Brokers in the World


CFDs are complex instruments and come 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 can afford to take the high risk of losing your money

Broker Min. deposit InvestinGoal Rating
IC Markets $0 84/100
Pepperstone $200 80/100
AvaTrade $100 80/100
XM $5 76/100
Plus500 $100 68/100
FxPro $100 76/100 $50 76/100
Oanda $1 72/100
IG Markets $300 80/100
Admiral Markets $100 74/100
AxiTrader $0 84/100
CMC Markets $0 74/100
EasyMarkets $100 73/100
eToro $200 77/100
FP Markets $100 77/100
FXCM $50 74/100
HotForex $5 81/100 $250 75/100
Vantage $200 72/100
XTB $0 74 /100

About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

Leave a Reply

Your email address will not be published. Required fields are marked *

Keeping you better informed

Find and Compare the Best
Online Brokers for You

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
ADVERTISER DISCLOSURE: InvestinGoal is completely free to use for all. Though we may receive a commission from brokers we feature, this does not impact the results of our reviews or rankings which are conducted with complete independence and objectivity, following our own impartial methodology. Help us continue to provide the best free broker reviews by opening your account with our links. Please read our Advertiser Disclosure to learn more.
Copyright © 2022 – All rights reserved. / Privacy and Cookie Policy / Basic Terms of Use / Sitemap