10 Best Forex Brokers In 2022

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Our selection of the 10 best forex brokers is the result of comparing only the most trusted brokers with long standing traditions and flawless financial backgrounds which makes all of them a safe choice. We tried to find the best forex broker overall although this choice will often be a question of individual trading preference.

We have compared brokers based on several factors which we think are most important from a traders perspective.This factors are: trading fees and spreads, trading platforms, charting and analysis tools, assets and regulators.

10 Best Forex Brokers

  • XM was voted as the best forex broker by our users
  • Forex.com is the Best Forex Broker overall with great support and trading platform.
  • AVATrade has the best trading platform
  • XTB offers the most currency pairs and analysis tools.
  • FXCM is the Best broker for technical analysis and tools.
  • IQ Option is best for Forex and Binary Options Trading with great UE.
  • eToro is the best for Copy Trading with low trading fees and mobile app.
  • Plus500 is the best platform for CFD trading with a long standing tradition.
  • OandA has the best trading info API.
  • Pepperstone is the best choice for Australian users

Best Forex Brokers Overview:



XM.com is part of a much larger organization called the Trading Point of Financial Instruments UK Limited. This organization created the exam group in 2009, which then founded XM.com, which is now one of the best established and well-known investment firms in the world.

With over 1.5 million clients in 196 countries, the XM global company focuses on three core principles:

Be big, Be fair, Be human.


FOREX.com is a forex and CFD broker offering over 84  currency pairs and 230 CFD’s across major asset classes. The brand is part of the GAIN capital holdings which operates in multiple countries holding licenses from many different regulatory hubs including UK, US, CA, Japan and Australia.

We would recommend this platform to active and mid active traders as they will benefit from slightly lower trading fees and spreads.



For a start, Avatrade boasts some pretty impressive business statistics, facilitating over two million transactions every month, with total values regularly exceeding $60 billion in value. These transactions aren’t only limited to forex trading, but extends to other financial instruments such as digital currency, bonds, different binary options and CFDs.

XTB Trading

XTB is primarily a CFD and forex broker regulated by the most trusted financial regulators including the FCA and is also listed on the Warsaw stock exchange.

We would recommend this platform to users looking for fast deposit and withdrawal + great research tools.


FXCM is a UK based forex broker which offers some CFD’s as well and is regulated by some top tier regulators like FCA and ASIC.

We would recommend this platform to users looking for great technical research tools.

No minimum deposit required so feel free to give it a shot – inactivity fees charged only after a year.

IQ Option


With almost 16 million accounts and 3,6 million trades per day IQ Options is a legit and transparent trading platform following the latest financial regulations, which enables users to trade a variety of different instruments and assets like forex, stocks, binary options, cryptocurrencies etc.

The trading experience is pretty smooth. Based on the high level functionality the platform is a good fit for professional traders, but it is also a good fit for beginners as it is really easy to understand and navigate.



eToro is an established social trading company, operating since 2007. It is an FCA regulated entity when operating in the UK, an Australian entity in Australia, and a Cypriot entity for international customers.

eToro has been awarded as the best social trading platform – social trading means you can follow other traders and copy their investment strategies.

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.


Plus 500 is a quality CFD’s provider and operates around the world via its subsidiaries: Plus500AU, AFSL #417727 issued by ASIC, Derivatives issuer licence in New Zealand for NZ clients, FSP No. 486026; Financial Services Provider # 47546 in South Africa. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).


OandA has won many awards this year as the best overall pick for forex and CFD’s trading. It is a well trusted company regulated by the top tier regulators like FCA and ASIC.

We would recommend this platform to users who are looking for a user friendly trading platform including high end research tools.




Based in Melbourne, Pepperstone is a reliable Forex and CFD broker, known for its diversity of trading platforms, industry-leading pricing, fast account opening, and great support. Pepperstone users can trade many assets including forex, CFDs in cryptocurrencies, indexes, shares, and commodities. This broker is excellent for traders at all levels, from beginners to advanced. Pepperstone offers MetaTrader, cTrader and TradingView trading platforms with multiple self-developed add-ons. They do not have a proprietary mobile platform, instead use MT4 and cTrader mobile apps.

Pepperstone has a low minimum deposit, great customer support, and an above-average research section, and an award-winning set of educational tools. Their research is better than average. Their customer service is fast and reliable. It is available through 24/5 phone and online chat support plus an extensive FAQ web section, and e-mail.

All of the brokers we took into comparison are considered as safe as they are all regulated by the top tier regulators like the FCA and ASIC and also have a long standing trading tradition.

Considering all of the many factors, we think that the most important ones are trading fees and a user friendly platform. The trading fee’s should be reasonable and the trading platform should be easy to understand and use.

What all of the compared brokers also have in common are the free demo trading accounts. If you are just starting out with forex trading we highly recommend you to start trading with a demo account where you can’t loose any money – as you probably know, forex trading is highly risky and you can loose money in matter of seconds.

All of the brokers also enable CFD trades. This are high risky and complex contracts and are not suitable for beginners traders – you can loose all of your investment in seconds.

What is an online broker?

Until very recently, trading stocks was a complicated, time-consuming task. If you wanted to purchase stock in a company, you would have to call your broker on the phone and ask them to buy that stock for you. They would then make another phone call to the trading floor where a trader would purchase your share for you.  If you’ve ever seen the movie “Wolf on Wall Street,” you already have a visual picture of the chaos that is the trading floor on Wall Street.

With the advent of the Internet and online brokers, that process has been significantly simplified and accelerated. Today, if you want to buy a share in Google, for example, you can pick up your phone, open an app, tap buy, and own more stock in less than a minute. That’s why online brokers are proliferating today.

Are all online brokers safe?

Sadly, no. And that’s one of the reasons why we built this comparison. It can be very tedious and time-consuming to sift through the hundreds of online broker offers to determine which ones are safe. None of the five brokers listed in this article are scams. They’re all highly regulated, most are listed on an exchange, and a few even have banking licenses. All of that together means that your money is as safe as it can be with them. 

But we don’t want to overstate a promise here. No brokers are perfect, and some brokers can start well and then “go bad” over the years (e.g., the Lehman Brothers). Because of situations like these, most countries have “compensation funds,” which will reimburse you for money lost if a broker breaks the law and steals your assets. However, this protection only exists with regulated brokers (which is why all of our brokers are regulated).

Five criteria for choosing the best forex brokers in UAE

In our methodology, we evaluated more than 60 brokers across more than 100 different criteria. This evaluation took our team weeks of work and analysis to come to these conclusions. (Aren’t you glad we did that for you?)

The five most important aspects for identifying a safe online broker are:

  • Fees;
  • Account opening;
  • Deposit and withdrawal;
  • Products and markets;
  • Trading platform. 

Each of these criteria can change drastically between brokers. For example, some brokers may charge 5000% more than the next broker for the same service. At first glance, that may seem like an obvious choice to go with the lower fees. However, there are often other services with the same brokers where those fees are inverted.

The only way to know which broker is best for you is by doing a thorough and complete evaluation across all five of these criteria.

[Best Online Brokers comparison table]

In our broker comparison, Interactive Brokers came out the clear winner. Especially for citizens of the United Arab Emirates, Interactive Brokers has a wide range of products, is regulated by several authorities, and has many great research tools.

So here’s what you need to do…

Step 1 – Evaluate which of these brokers best serves your needs…

Step 2 – Click on the link to their offer!

Our Top Picks For DayTrading

What are the most important criteria to look for when choosing a forex broker? There are lots of them but we can simply split them into this three categories:

  • Selection of currency pairs
  • high-quality tools
  • moderate costs

Almost all of the Brokers listed above offer a large selection of currency pairs available to trade, almost all have pretty low account minimums and the highest legal leverage ratio of 50:1. They also provide the choice between commission accounts and spread markup accounts. Commission accounts have a fixed commission fee but will in turn offer lower bid-ask spreads.


The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best forex brokers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a brokers platform.

The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Disclaimer: By trading with securities you are taking a high degree of risk. You can loose all of your investment money. You should start trading only if you are aware of this risk. Business24-7 is not providing any investment advice, we only help you find the best broker based on your needs and preferences. Business24-7 is free for everyone, but earns commission from some of the brokers. We get commission with no additional cost for you.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.