BEST FOREX BROKER 2022
“Ranking Matters, it tells which broker is good enough and which is not,
so here we will be ranking the brokers according to the services the broker provides.”
As per my experience, the broker deserves to be in 1st Position.
Overall if we are saying about Exness broker they’re considered to be the fastest broker. The broker provides minimum spread values as well as there are no charges on deposit and withdrawal and the rate of deposit and withdrawal is also the fastest among all. Exness broker don’t charge a single penny on deposit and withdrawal along with that they provide a lot of channels by which users can deposit or withdraw funds. Even the most popular method for Indians for making the payment is also there. Yes, I am talking about UPI. Therefore Exness stands call for deposit and withdrawal methods. Best convenience and fastest.
What I Like About this Broker?
- They provide you the education material on their website from where you can learn and trade as per your convenience.
- In Exness mobile application, you also receive the trading analysis signals which may help you in trading.
- The spread is minimum, along with that there are accounts where there is no commission.
- In comparison to another broker swap is also minimum.
- Broker is reliable, honest and have their own security measures.
- Support services are also available 24*7, so you can get help whenever you want.
- Licensed and regulated to operate as a broker.
- Order execution speed is mostly fraction of second, sometimes it take approx. 3 sec for opening and closing of the bids.
- Application provide trading signals.
- Their website is available in 15 languages.
What I Don’t Like About This Broker?
- Longer payout time, that is 24 hours.
- Mobile application takes a lot of time to load the pages.
- They provide signals but if there is sudden change in the movement of the currency, they don’t give frequent updates.
As per my experience, the broker deserves to be in 2nd Position.
If we say about OctaFx broker they are in second place as per my experience. The broker has low spread values and there are no fees on deposit and withdrawal along with that the withdrawal is credited to your account within 24 hours. They don’t provide a lot of channels for deposit and withdrawal but they are the most convenient ones. UPI payment system is also there among them. OctaFX has established itself in India since, 2011 and has grown day by day. Have been awarded the best broker for years in a row.
What I Like About this Broker?
- Easy to use platform
- Bonuses options available
- Support availability is 24*7
- Lowest cost
- Many channels for depositing funds and no extra charge on deposit and withdrawal
- Education material is provided to learn about trading.
- Copy trading option is also available
What I Don’t Like About This Broker?
- Limited Commodities market, no individual stock CFDs
- They ask for initial USD 1000 Dollars for a month in your account to provide you the trading signals.
- Limited trading options.
- Takes More time for withdrawal if the amount is huge.
As per my experience, the broker deserves to be in 3rd Position.
XM Broker is also known as XM Global Limited, a subsidiary of Trading Point Holding Ltd under which there are two names XM broker (xm.com) and Trading Point Broker (trading.com) focused on European Clients. There are a few countries where XM doesn’t provide its services such as the US, Canada, Israel, and Iran. XM has established itself in the rank of topmost broker and its constant development is increasing year by year. They have been in this market for more than 10 years now and have grown rapidly. XM chat support availability is 24*5 and the support staff answers the questions satisfactorily. The broker provides Bonus offers to help you with your trading with that there is no commission in any of the account types. The broker offers negative balance protection and is well regulated, along with that the deposit and withdrawal have no charge at all.
What I Like About this Broker?
- Easy account opening procedure that means their platform is user friendly.
- Good Educational Tools
- No fees on deposit and withdrawal
- They support major 11 base currency to trade in.
- No commissions on any account
- Low spread values
- The platform is fully digital
- Minimum deposit is USD 5 for both standard and micro account
- Chat support is good and you don’t have to wait in long queue to get in touch with the support.
- Order execution speed is mostly fraction of second, it rarely happens that the order execution speed is delayed
- Negative Balance Protection
- The broker is well regulated
- They also provide bonuses to help you with your trading
- XM is popular among many people; it’s been used by millions of people all over the world.
What I Don’t Like About This Broker?
- Chat support is not available 24*7.
- Can’t understand the concept of Ultra low accounts.
- Design of the website is outdated.
- Don’t accept clients from US. Canada and Israel.
As per my experience, the broker deserves to be in the 4th Position.
The broker is originated from Australia, and this country has strict laws for trading so there is no doubt in that the broker is surely reliable. The broker supports both retail and institutional trading. The broker does provide good services, if I say about my experience with this broker I did face a lot of issues in login and funding of the account on the MT4 platform but the issue was easily resolved by the broker, the broker support system is up to the mark. The broker does suggest keeping USD 200 dollars for the minimum deposit but it is not mandatory you can deposit less amount also but keep in mind that you would be only able to trade according to your investment.
What I Like About this Broker?
- Commission free trading available.
- Impressive library for education videos.
- Meta Trader and cTrader both platforms are available on mobile as well as desktop.
- Raw spread account has the minimum spread.
- Wide range of trading instruments
- 24*7 customer support availability.
- Traders can stay up to date with market developments through the IC market blog page, called the information hub.
- Execution speed is fraction of seconds
- One click trading available
What I Don’t Like About This Broker?
- At start of using this broker, you might face some issue, but it can be resolved by getting in touch with support.
- The webpage takes a lot of time to load pages
- No bonuses and promotional offers.
As per my experience, the broker deserves to be in the 5th Position.
From the moment of its foundation, Robo Forex has been focused on providing the best services using its technological innovations. They have been nonpartial on the basis of the experience of trading their client has. They do provide bonuses from the start at the time of deposit without any partiality within clients. With no restriction on depositing funds, they have provided various platforms as well on which their client can trade. Roboforex provides various channels by which a person can fund their account but one thing to remember is that there are charges on withdrawal but no charges on deposit.
What I Like About this Broker?
- Many options of deposit and withdrawal.
- Easy process to open account
- Bonus options available at the time of depositing funds.
- Support availability is 24*7.
- Multilanguage support in 13 languages and a variety of channels of communication.
- Low minimum deposit.
What I Don’t Like About This Broker?
- Withdrawal charges are there.
- Slow support
- Website takes a lot of time to load other page.
- Limited choice of trading instruments on the majority of accounts.
- Not FCA regulated.
As per my experience, the broker deserves to be in the 6th Position.
Ever Since the establishment of Fx Pro they have grown rapidly and are still growing. Currently, they are serving over 170 countries throughout the world. They provide several assets to trade in such as forex, indices, metals, etc. Along with that the most interesting feature which I found with this broker is that they provide their own wallet with which you can internally transfer funds to your various accounts of yours, what I did was to deposit a minimum amount of USD 100 to one account and then using the wallet system internally transfer funds to another account which is few minutes process and is quite time-saving. The overall cost of the broker is also low as compared to other brokers. Apart from that, they ensure that their client’s funds are secure and are kept segregated at different international banks means their clients’ funds will not be used if the broker has any financial issues. Their customer support is available 24*5 days in which you can get in touch with them anytime you face trouble. The support agents do have knowledge up to the mark to solve your issues.
What I Like About this Broker?
- Globally regulated: FCA, CySec, FSCA, SCB
- Commission free trading available.
- No Dealing desk and fast execution
- Wide range of trading platform available.
- Support services are good
- Hassle free deposit and withdraw
What I Don’t Like About This Broker?
- Order execution speed differs if there is volatility in the market, platform ask to readjust the pricing again and again.
- Inactivity charges are there
- Only CFD and Forex Available
- CFD fees is high
- Support is not available 24*7
As per my experience, the broker deserves to be in the 7th Position.
GMI Edge is holding an FCA license which somehow is considered to be their strength. Having this license gives them reliability and insurance over client funds, which means they can only use their own money for company-related issues no client funds will be used for such tasks. Though they did not provide much information on their website as compared to other brokers which results in not being transparent with their clients, and their website design is quite outdated. The broker is not much popular in India. Their support is available 24*5 and the chat support connectivity is slow as compared to other brokers, the chat support is open in a new pop-up box which seems to be quite outdated.
What I Like About this Broker?
- User friendly MT4 platform.
- Flexible leverage.
- Minimum deposit USD 25
- Swap free accounts for different countries
- ECN account is lowest Fee of total service fee
What I Don’t Like About This Broker?
- Support is not available always.
- Old fashioned pattern of website and support connectivity.
- Only 2 platforms for depositing and withdrawing funds.
- Lack of educational materials
- Limited trading tools
- USD currency accounts only
- No stocks or cryptocurrency trading
As per my experience, the broker deserves to be in the 8th Position.
From the day of the broker’s establishment, their priority is in to be able to direct communication with their customers and try to improve their services. Apart from that, they provide their own wallet system which makes the task easier to internally transfer funds to another account. Weltrade has an account with no commission at all and the spread is low as compared to some brokers.
What I Like About this Broker?
- Range of Bonuses and Promotions available.
- No commission charged
- Good Functioning options
What I Don’t Like About This Broker?
- Limited Education resources.
- Indices and shares not offered.
As per my experience, the broker deserves to be in the 9th Position.
Since the year of HotForex Establishment (2010), the broker has grown rapidly, and currently, they are serving many countries throughout the world. Trading services are provided to both industrial and real clients. Though their policy is providing the best possible trading conditions to their clients which also allows them to trade as scalpers and traders using expert advisors, HotForex has positioned itself as the forex broker of choice for traders worldwide.
What I Like About this Broker?
- Broker with some of the best range of Forex and commodities market.
- Low fees.
- Account opening procedure is fast
- Minimum deposit amount is low without any extra charge.
- Micro and Islamic accounts are offered
- Enable negative balance protection
- Wide range of deposit options
- User friendly design
- Fast support service
What I Don’t Like About This Broker?
- Website response is slower as comparative to other brokers.
- Order execution speed is also less as compared to other broker almost take 2 to 3 seconds to execute orders.
- The broker cost is higher as compared to other brokers.
As per my experience, the broker deserves to be in the 10th Position.
FBS is one of the international brokers whose presence is in more than 190 countries, for now, approximately 16 000 000 traders and 410 000 partners have already chosen FBS as their trading partner. FBS does provide the best customer experiences but then it also has the highest cost of all the brokers I have analyzed yet. FBS do organize special events and seminars, and along with that they also provide their clients with training material. Both newbie and professional traders will find these sessions useful.
What I Like About this Broker?
- Have their own trading application
- Provide forex analysis for different currency pairs
- Support is multilingual, so that helps different country people to speak comfortably with their own language
- Copy trade is also available with FBS.
- Platform is secure, even have SSL layer to prevent the accounts from getting hacked.
- Negative balance protection is also provided by the broker, which means that you can’t lose more money than your account balance.
- Bonuses are also provided.
- The research section here is very detailed and provides an excellent range of material
What I Don’t Like About This Broker?
- They charge fees on deposit and withdrawal and it differ as per the channel.
- They have limited number of assets available.
- I found the broker is expensive comparative to other brokers.
- Demo account is available only for a certain period of time.