Top Forex Brokers list for trading 2022

Each investor has a different criteria for choosing a forex broker. Everyone’s opinion is that it’s hardest thing to please everyone. Regardless of how different people choose to choose a forex broker! General criteria is still to be a reputable forex broker first, if not, forex broker “embrace your property and run for people” knows who to call for help.

Personally, I am also a “trader” and understand psychology of customers when they have to “flicker” to choose for themselves a reputable trading platform. Because there have been thousands of beginners who have lost a large amount of money when encountering a scam broker “in a wasteful way”.

However, when itigtrader.com introduces “Top reputable forex brokers”, traders first need to understand overview of financial markets before investing.

What is Forex?

Also known as Foreign exchange market. This is a centralized market for exchange of currencies, with main participants in foreign exchange market being major international banks. In addition, large to small financial institutions play role of exchange rate anchors and ability to create liquidity sources, so Forex is a decentralized market.

According to  2013 report:

• Deutsche Bank, Citigroup, Barclays Investment Bank, UBS AG, HSBC account for more than 50% of total market share participating in money market. As can be seen, central banks play an extremely important role in foreign exchange market.
• The greenback (or USD) accounts for more than 80% of capital turnover in foreign exchange market. Followed by Euro and Japanese Yen and British Pound. That is why you will easily see why EURUSD rate at most brokers always has best spread there.
• It is certainly impossible for an ordinary individual to want to participate in trading in market. Must go through a forex broker or Forex broker or FX broker or Forex Broker.

Criteria in list of Top Forex brokers in 2022

1. Broker forex must be active for at least 7 years. Thus, that forex broker is safe in terms of operating history.
2. Broker must have a license from reputable financial institutions or committees. And still active on financial markets around world, not forex underpinnings.
3. Broker must make sure deposit is OK. However, must follow that broker’s process and policies.
4. Broker forex must have regular online support team for customers.

Top	Forex Broker	Established	Regulation	Open account
1	Admiral Markets	2001	FCA, ASIC, CySEC	Registration
2	ICMarkets	2007	ASIC, FSA	Registration
3	AXI (AxiTrader)	2007	CySEC, FSA	Registration
4	OctaFX	2012	CySEC	Registration
5	Exness	2008	FCA, ASIC, CySEC	Registration
6	FPMarkets	2011	FCA	Registration
7	FBS	2009	IFSC	Registration
8	Darwinex	2012	FCA	Registration
9	FXTM	2007	FCA, FSC	Registration

Established in 2001, with ASIC license from Australia and FCA of England and CySEC of Republic of SEC, this is enough to be considered a reputable forex broker.

More than 4000 trading instruments

As you can see, Admiral Markets has three licenses to say that are both reputable and popular. Products on broker are equally rich as: Forex, Precious Metals, Securities, Stocks, Derivatives, Commodities, Energy, ETFs, Crypto. So when investors at frenzy to find trading products that broker forex does not provide.

Allows most Trading Strategies

Admiral Markets allows investors to enjoy trading methods such as Scalping trader, Day Trader, Positive Trade, Hedge Trade. Because, AdmiralMarket is a No dealing Desk. That is, they are just an intermediary company that takes client orders and delivers to “Interbank Market”.

Types of accounts at Admiral Markets:

There are 5 types of accounts: including 2 types of accounts for MT4 platform and 2 types of accounts for MT5 platform and “Invest.MT5” account type will be valid in some countries. Minimum initial capital of USD 100 for all types of trading accounts, allowing use of EA (trading robots).

• Trade.MT4: no commission on trading products, except for Stocks and ETFs. Including 148 products traded.
• Zero.MT4: commission from 3.6-6 usd / 1 lot traded for Forex, Metals.
• Trade.MT5: no commission on trading products, except for Stocks and ETFs. More than 3500 products traded.
• Zero.MT5: commission from 3.6-6 usd / 1 lot traded for Forex, Metals.

Improved mt4 platform

“MetaTrader Surpreme platform”. This is an improved platform for MT4 and for MT5 alone, but no other broker forex other than Admiral Markets provides. Of course, MT4 Supreme platform will be superior to conventional platform and advantages from this platform:

• More indicators “Technical analysis with Trading Central”.
• Indicator of “Market sentiment”: it is a measure of psychology between number of people who think price should buy or the price to sell.
• The interface is same, with more prominent and clear details, instead of old platform you have to download more external indicators.

Established since 2007. ICMarkets is growing in 120 countries around world. It is divided into 3 groups corresponding to 3 types of operating licenses.

• Firstly, Austraila is licensed ASIC account number 335692 under brand name International Capital Markets Pty Ltd (IC Markets AU).
• Second, in Seychelles there is an FSA under brand name Raw Capital Trading Ltd (IC Markets SC).
• Third, in Cyprus is authorized and regulated by SEC Republican Securities and Exchange Commission, license number 362/18. Same brand IC MARKETS (EU) LTD.

ICMarkets with true meaning of True ECN should allow Scalping with most trading methods, as long as it is reasonable.

Types of accounts at ICMarkets:

All are 3 types of accounts:

• Standard Account with no commission. Spreads start at 1 pip. Forex pairs with best liquidity are always EURUSD, GPBUSD, USDJPY.
• RAW Account (ECN) with commission of 7 usd / lot. Spreads start at 0 pips. Scalping will be best fit on this account.
• CTrader Account (ECN) with commission of 6 usd / 100k USD. Spreads start at 0 pips. Just like account above, Scalping will be best fit on this account. In addition, take advantage of FIX API technology.

Trading Instruments & Trading platform

I must say ICMarkets offers a lot of trading products: Forex, Precious Metals, Indices , Stocks, Bond, Crypto. Shares on MT5 platform are most offered by ICMarkets in company’s Trading Instruments available portfolio.

Provides 3 trading platforms: Metatrader 4, Metatrader 5 and Ctrader.

Free on Deposit & Withdrawals

ICMarkets no charge deposit and withdrawal methods: Paypal, Skrill, Neteller, Money transfer from broker to broker, Visa card, Local Banking.

Overall, ICMarkets deserves to be in list of “Top forex brokers in 2020” of ITIGTrader. This is also current “Lowest Brokerage on Spread”.

AXI was formerly also AxiTrader under AxiCorp starting in 2007, was acquired by Goran Drapac and later renamed AxisForex. By 2008, AxisForex started to run its own Forex trading business.

AxiTrader together with AxiPrime and AxiSelect are 3 companies under AxiCorp Financial Services Pty Ltd, an enterprise specializing in providing Foreign Exchange (Forex) trading, Contracts for Difference (CFD) trading and headquartered in Sydney, Australia with offices in London, Shanghai, Chisinau, Dubai, Riyadh and Jeddah.

Like many other forex brokers, AxiTrader also experienced a lot of ups and downs. Just after 1 year of establishment, AxiTrader is also one of many other businesses globally that suffered a massacre from great financial crisis in 2008-2009, resulting in many large and small financial companies. to go bankrupt.

Axi trader has held its own since then, showing how much effort AxiTrader has to make to maintain and develop.

Currently, Axi exchange is providing 2 main account types, Standard and Professional. A typical advantage is minimum deposit requirement of only 1 USD or more, while most other exchanges require higher capital from 200 usd like ICMarkets. In addition, AxiTrader is also an ECN forex broker with servers located at Equinix NY4, so execution speed is extremely fast, ensuring orders are not requoted.

Social Trading on Axi

Like many other Australian brokers, AxiTrader does not have a direct Copy Trade, but usually through a 3rd party providing this service. Previously, AxiTrader had 4 famous copy services such as: Signal Trader, Myfxbook, ZuluTrade, Forex Signals and Tradeworks. However, now Acidrader only provides Myfxbook service, this feature is no longer strange to Vietnamese Traders.

To be able to use this service at AxiTrader account must deposit at least 1000 USD and then you are linked to.

Good support for deposit and withdrawal methods

Here are some deposit and withdrawal channels that Axi is supporting for transaction customers: Internet Banking, Ngan Luong. Mastercard/Visa, Global Collect ,Bank Transfer, Skrill, Neteller,FasaPay.

For Vietnamese traders who are customers of itigtrader, we always recommend that you choose to withdraw money through Ngan Luong portal or “Vietnam payment card”. Because “Vietnam payment card” AxiTrader supports 30 different banks for you to choose from. Moreover, both are free to deposit and withdraw, so it will reduce cost for traders.

Please note, exchange is regulated, so it must comply with anti-money laundering regulations, so with AxiTrader withdrawal orders must be made.

OctaFX was established in 2012. So far, OctaFX has only one Cyprus CySEC license for EU citizens and Off shore.

Octafx types of accounts & Trading platforms

All are 3 types of accounts:

• MT4 Account: no commission. Minimum initial capital of USD 100. Client will trade on MT4 trading platform.
• MT5 Account: no commission, minimum capital initially 500 USD. Account type supports more crude oil products and more stock indices. Client will trade on MT4 trading platform. Client will trade on MT5 trading platform.
• CTrader Account: commission from 6-7 USD / lot. In my experience, CTrader Account is best account at this broker. Client will trade on Ctrader trading platform.

OctaFX Free Swap

Besides, there is an additional type of Free Swap (free overnight), so it is more suitable for Scalper traders and Daily traders, Positive traders. But this only applies to MT4 account.

Free swap is one of outstanding policies of OctaFX. However, there will be a swap of Swap fees into Commission fees, in this case.

Provides 3: Metatrader 4, Metatrader 5, Ctrader.

OctaFX Deposit Bonus 50%

There is usually a 50% bonus program for depositing money. In addition, OctaFX is also classified in group “Forex brokers with bonus” for investors who love to use bonuses.

OctaFX provides additional Copy trade function.

Support for almost free deposit and withdrawal methods, including Bitcoin wallets. And SKILL payment gateway.

Exness was established in 2008, has a British FCA and FSA license from Seychelles.

Exness highest leverage

Yes ! That’s right. Because Exness broker provides unlimited leverage. Investors should also know that higher leverage is also a double-edged sword. So consider when using high leverage.

Exness account types

Provide 5 types of accounts and I just summarize some accounts here as:

• Cent Account: is a commission free account. More suitable for new traders who want to train or traders who want to test their strategy.
• RAW Account: commission is less than 7 usd / lot, depending on trading pair.
• Zero Account: commission from 7 usd / lot, depending on trading pair. According to Exness announced difference of 0 (spread = 0) accounted for 95% of day

Exness offers a wide range of trading products from Forex, Precious Metals, Stocks, Stocks, Crypto.

Provide 2 trading platforms: Metatrader 4, Metatrader 5.

Exness dealing desk

This broker is a Dealing desk and No Dealing desk. Perhaps market markets are something traders don’t like.

Exness is one of “Fast withdrawal brokers”

The strength of Exness to withdraw money very quickly sometimes is less than 1 hour.

Support many deposit and withdrawal methods. Almost free, including Bitcoin wallets. And SKILL payment gateway.

FPMarkets has been present in financial market since 2005 and this broker is from Australia, exchange is also quite famous in world, trusted by many traders because of its high reputation and good service quality. However, not all Vietnamese investors know about FPMarkets broker, especially those who are new to forex trading, of course, long-time Vietnamese traders will probably know.

For an ordinary ECN broker, FP Markets also makes its exchange more special with DMA technology, superior and more professional. Not many forex brokers use this technology and FP Markets is one of them. DMA has many advantages over ECN, all traders affect price conditions in market, unlike conventional way.

FPMarkets provides market access through MT4, MT5, Webtrader and Iress DMA trading platforms across trading assets including Forex, Gold and Silver, Energy, Indices CFD, Cryptocurrency CFDs, Shares CFDs, CFD Futures.

Trading support tools

FPMarket supports use of powerful Autochartist technical analysis tools to easily understand real-time trading opportunities. Autochartist offers real-time trading setups suitable for beginners or experienced traders.

• On this tool clients can receive notifications via email, mobile app, in client area and in MT4/MT5 platform.
• 1000+ trade opportunities and ideas every month
• Wide range of financial markets on Forex, Metals, Indices, Commodities and Cryptocurrencies.
• Autochartist is automatically viewed and signaled, to find high quality trading opportunities, saving you more time.
• Experienced traders to implement advanced search functions.

Wide variety of popular payment methods

No deposit fee is charged, except for international bank transfer, which will be charged by customer. However, processing time for normal account types is instant, for IRESS accounts it takes up to 1 working day.

FP Markets provides investors with a wide range of deposit and withdrawal methods such as Visa Card, International Transfer, e-wallets such as Paypal, Neteller, Skrill, Fasapay and Internet banking / Ngan Luong.

Low spreads on Forex pairs, Precious Metals

At this point, if you are interested in eToro, array of trading tools in Forex pair, Precious Metals should forget about it. Unfortunately, difference on them is not very nice. Spreads on Forex pairs, Precious Metals are his forte ICMarkets and Admiral Markets in this regard.

After itigtrader compares spread (spread) of FPMarkets with ICMarkets and AdmiralMarkets. Degree of stretch is not much different if compared to same ECN account. Considering that, ICMarkets has now withdrawn a part of client contracts from ASIC to Seychelles, which makes them lose their credibility value, FPMarkets and AdmiralMarkets have more credibility.

Allow opening Demo account Free

FPMarkets is a unique and strange broker, not only using MT4 platform, MT5 is most popular platform, providing additional Iress (you have to pay to use). However, with an account used via Metatrader you can use or test it for free, if you are not confident enough to trade for real on a real account, FPMarkets allows you to open a Demo account, so you can familiarize themselves with their platform from opening orders, closing orders.

FPMarkets is reputable

FPMarkets has an Australian ASIC license. So it can’t be said that this forex broker is a scam. As a result, customers are much more secure in legal aspect of FPMarkets.

FPMarkets is both safe in terms of business license and convenient for depositing and withdrawing money through Vietnamese banks.

FBS was established in 2007. FBS is also an online broker that provides online trading products.

Providing 3 trading platforms: Metatrader 4, Metatrader 5, FBS Trader.

Offers very high leverage up to 1: 3000 and applies to different account types. Investors should also know that higher leverage is also a double-edged sword, so consider.

FBS Types of account

FBS offers 5 types of accounts. But I just summarized some accounts here like:

• Cent Account: is a commission free account, suitable for new traders who want to practice or traders who want to test their strategies.
• Standard Account: no commission, suitable for all traders.
• ECN Account: with commission 6 usd / lot. Suitable for scalping traders.
• Micro Account: There is no commission, in fact it is Spread Fix account, i.e. spread is fixed.
• Zero Spread Account: spread on this account will be zero on the trading pairs and compensate for the high commission up to 20 USD / lot traded.

Among brokers, this is a very comfortable broker with every trading method.

FBS bonus 100

Yes, this is bonus no deposit promotion currently happening on FBS.

In addition, if you want to see brokers with this same no deposit promotion at here “free no deposit bonus forex broker”.

FBS Fee

Here is a list of available methods at FBS: Local Bank, Skrill, Netteller, Visa card, and Bitcoin Wallet.

Weakness that I underestimate at FBS is too much fees for traders. Whether, promotions take place regularly.

Darwinex is found since 2012. Darwinex has established 40 offices in London and their development office in Spain. This broker is licensed by FCA Manager under trademark Tradeslide Trading Tech Limited number 08061368.

Darwinex’s strategic community is large with over 3,000 traders. Attracting investors to this broker. Because Darwinex pays special attention to talented traders and they will receive new capital allocation.

Mark Darwin

As mentioned above Darwinex will allocate capital to talented traders corresponding to Darwin name for each account.

Every month, Darwinex announces: Darwin is at its best. It will be considered for capital allocation up to 6 million euros, set aside for 80 Darwin according to rankings. Then, if Darwin is profitable, Darwinex will be divided by 15% of yield of profit.

Deposit fee

• Fee is 0.5% deposit on Skrill and Paypal.
• No fees via Visa, Trustly Bank.
• Bankwire if any fees are from investor’s bank. But it was, not a fee
• from Darwinex’s side.

Withdraw fee

• Fee is 1.2% for withdrawals on Skrill and Paypal and Visa card.
• Fee is 3.5 EUR on Trustly.
• Bankwire if there are fees, are fees from investor’s bank, not from Darwinex.

FXTM is also ForexTime established in 2011. ForexTime has been granted 4 licenses including CySEC and FSCA in South Africa, FCA of UK, FSC of Mauritius, FSC corresponding to different legal areas.

Trading account types:

FXTM has up to 7 different account types to offer to suit all types of clients such as:

• Standard account, in form of 3 types of accounts, including: Standard Account, Cent Account, Stock CFDs Account.
• ECN account, under form of 4 types of accounts, including: Stocks Account, ECN Account, ECN Zero Account, FXTM Pro Account

Lowest commission

Strong point of FXTM is that commissions are very low starting at 2.5 USD / lot in both directions. Commission fee will depend on which trading pair.

Recommend choosing FXTM ECN Account or Stock Account

If you trade Forex then you should choose ECN Account. If you choose to trade Stock, you should choose Stocks Account.

FXTM is also a broker which is both “No dealing desk and Dealing Desk”.

FXTM Invest

“FXTM Invest” is ForexTime’s copy service. Investors are allowed to keep control of their own capital. Investor will only pay part of cost to Strategic Provider when they execute profitable orders

Full range of deposit and withdrawal methods such as: Local bank, Visa / Master card, Skrill, Neteller, VLOAD, Webmoney, E-wallet, Yandex money, Perfect Money and Fasapay. Minimum deposit for deposit starts from 10 USD for Cent account.

SOME QUESTIONS ARE COMMONLY FOR ALL FOREX BROKER

Does Forex Broker offer Free forex trading platforms?

Almost all Forex Brokers offer free platforms such as: Metatrader 4 (MT4) and Metatrader 5 (MT5) and Ctrader. There are a few other trading platforms of some forex brokers that you pay either monthly or by volume fees. Of course, paid trading platforms are definitely an advantage over free trading platforms.

Which Forex Broker has low spreads and no commissions?

There is no Forex broker that truly meets both of above criteria.
One is commission and spread is low.
Or, Two is no commission and difference is higher.
But you can refer here “low spread forex brokers”.

Am I looking for “Best CFD Brokers Australia” or “Best Forex Broker Australia?

Maybe you live in Australia. There will be these CFD brokers that I recommend you are interested in: FPMarkets, ICMarkets, Etoro, Admiral Markets.