Top 3 Forex Brokers in 2022

Are you planning to start trading forex and worried about the choice of the right broker? This article is for you. Here we will discuss the top 3 forex brokers in 2022. But, before listing the best forex brokers, we want you to first understand what is exactly meant by a forex broker and how should you make the choice for a suitable broker for you.

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What is a Forex Broker?

To put it simply, a forex broker is an online trading platform that allows you to trade in the global foreign exchange market or the forex market. A forex broker acts as a third party between the trader and the market and charges a small fee from the trader.

If you want to trade forex, you need a reputable forex broker. Choosing the right broker plays an important role in the success of a forex trader. Every forex trader has specific needs according to which he chooses an appropriate forex broker. Understanding the investment style needs helps determine a trader choose the best broker for himself. CFD trader South Africa is one of the best trading platforms.

Here are the top 3 forex brokers available in 2022.

1- FXTM

FXTM is a Cyprus-based forex broker founded in 2011. FXTM is the short form for Forex Time which is a platform that focuses mainly on foreign exchange. The specialization makes it prominent among the other forex brokers available in the market when it comes to forex-focused trading tools and platforms.

This is a duly regulated broker licensed by the Cyprus Securities and Exchange Commission, the International Financial Services Commission (IFSC), and other regulatory authorities in and out of the European Union.

Pros

A free demo account is available
It offers the leverage up to 1000:1
Spreads are competitive with 24 hours trading and are open 5 days a week
Support for more than 250 products
Meta Trader 5 and Meta Trader 4 platform support

Cons

No native Mac desktop app
Low maximum order size

2- IC Markets

IC Markets is an Australian forex broker company founded in 2007. It is another top forex broker at present. IC Markets is regulated by the Seychelles Financial Services Authority (FSA) and the Australian Securities and Investments Commission (ASIC). The website of the broker claims that they processed 646 billion USD worth of trading volume in alone 2019.

Pros

Authentic ECN broker with high-grade liquidity
A wide range of tradable products is available
C Trader and Meta Trader are available on the web, mobile, and desktop.

Cons

Not suitable for novice traders due to an overwhelmed choice of markets and platforms.

3- XTB

XTB is an award-winning Poland-based forex broker that supports forex, stocks, indices, commodities, and cryptocurrencies. XTB supports 48 currency pairs for trading forex with low-cost spreads. This platform offers leverage of up to 200: 1.

Pros