BEST FOREX BROKERS IN 2022 BY FOREX BROKER KING

Easily choose the best Forex Broker in every aspect here.

We will consider all of the components to seek the best of the best Forex Brokers for traders. The main factors that we take into consideration are :

  • Trading Cost (Spread, Commision and Swap)
  • Reliability
  • Reputation and Popularity
  • Services
  • Trading Experiences

1st Rank Broker : EXNESS

The overall composition of Exness is very good in terms of both its excellent live chat service, low spread fee on raw accounts, 0% stop out, and a copy trading system that allows you to copy trades from professional traders.

The drawbacks of this broker is that the Standard, Pro and Zero accounts tend to lag frequently (except for the Raw Spread that is smooth).

exness logo

Quick EXNESS Review

Advantages of EXNESS
  • Low trading cost (Spread, Commission and Swap)
  • Support staff (Live chat) are very good.
  • Fast deposit-withdrawal
  • Free VPS
  • Unlimited Leverage
  • There is a Copy Trade system.
  • Stop out 0%
  • You can start trading right away without having to verify your identity
Disadvantages of EXNESS
  • Trading is not smooth.
  • There is a requote for Pro Account
  • No bonuses or promotions
  • Must trade before proceeding withdrawal
Bonuses, promotions and interesting things

Bonuses and Promotion of Exness

Currently, Exness does not have any promotions nor bonuses.

Which can be checked from the link: https://my.exness.com/pa/bonuses

Exness Summary

Regulatory Organization

License Certificate (Regulator)

1. CySec (Cyprus Securities and Exchange Commission)

2. FSA (Seychelles Financial Services Authority)

  • License Certificate No: SD025
  • License of Nymstar Limited, is duly licensed to operate under the brand and trademark of “Exness”.
  • Click to view the License Certificate
  • For customers all over the world

3. FCA (Financial Conduct Authority)

General Information of EXNESS Broker

Head Office 

Head Office of Exness is located in Cyprus

Address: 1, Siafi Street, PORTO BELLO, Office 401, 3042, Limassol, Cyprus

On the Exness website, it is stated that the Exness brand is operated under Nymstar Limited with office located at F20, 1st Floor, Eden Plaza, Eden Island, Seychelles which is another office of Exness

Contact Channels

     

2nd Rank Broker : XM

XM is a broker with relatively high reliability, internationally recognised, non-delayed trading, narrow spreads, suitable for day trading and scalping.

The highlight of this broker is the 30 USD free money bonus with no deposit required. For new customers who have just opened an account with XM

xm logo

Quick XM Review

Advantages of XM
  • 30 USD free bonus without no deposit required
  • Easy to change leverage
  • Fast, smooth trading
  • Narrow spreads (XM Ultra Low Standard)
  • High in reliability
  • World famous
  • Live chat, fast response
  • Lots of bonuses and promotions
Disadvantages of XM
  • 90 days no trading, will result in account cancellation.
  • High swap
  • No Copy Trade system
Bonuses, promotions and interesting things
  • 30 USD free bonus without deposit
    • For traders who have just opened an account with XM for the first time
    • No deposit required
    • Profit can be withdrawn
  • Profit Withdrawal Conditions
    • Profit amount of at least 5 USD
    • Can open and close orders upto 5 times
    • All lots in trading are greater than or equal to 0.1 Standard Lots (or 10 Micro lots).

XM Summary

Regulatory Organization (License)

License Certificate (Regulator)

XM Group Licenses

1. IFSC (International Financial Services Commission) : Belize

xm ifsc

2. CySec (Cyprus Securities and Exchange Commission)

3. ASIC (Australian Securities and Investments Commission)

4. FCA (Financial Conduct Authority)

Additional licenses of Trading Point of Financial Instruments Ltd

  • BaFin Bundesanstalt für Finanzdienstleistungsaufsicht (Germany) under registration number 124161
  • CNMV Comisión Nacional del Mercado de Valores (Spain) under registration number 2774
  • AFM Autoriteit Financiële Markten (Netherlands)
  • FI Finansinspektionen (Sweden)
  • FIN Finanssivalvonta Finansinspektionen (Finland)
  • MNB Magyar Nemzeti Bank (Hungary) under registration number 538324
  • CONSOB : Commissione Nazionale per la Società e la Borsa (Italy) under registration number 3046
  • ACP Autorité de Contró Prudentiel (France) under registration number 73640
  • KNF Komisja Nadzoru Finansowego (Poland)
General Information of XM Broker

Head Office

Head Office of XM is located Cyprus

Address: Richard I & Berengaria Of Navarre, Limassol 3042, Cyprus

Contact Channels

     

3rd Rank Broker : LAND-FX

What brings Land-FX to 3rd rank is the excellent trading experience. Fast, smooth trading, no lag, and easy to use website, suitable for both beginners and professionals

The disadvantage of this broker is that the gold spread is a bit too high.

land fx logo

Quick LAND-FX Review

Advantages of LAND-FX
  • Narrow spread
  • The website is easy to use.
  • Live chat support staff answers well.
  • There is a Copy Trade system.
Disadvantages of LAND-FX
  • Leverage cannot be adjusted.
  • Gold spread is a bit too high.
  • Pro account spread is higher than Standard account.
  • No bonus
  • Trading on the website is not supported.
Bonuses, promotions and interesting things

The company does not have any promotional services at this time. Customers can keep track of new promotions on the main website.

LAND-FX Summary

Regulatory Organization (License)

License Certificate (Regulator)

1. CySec (Cyprus Securities and Exchange Commission)

2. FSA (Seychelles Financial Services Authority)

3. ASIC (Australian Securities and Investments Commission)

General Information of LAND-FX

Head Office

1. In London, the United Kingdom

Address: 1 Filament Walk, Wandsworth, London SW18 4GQ, United Kingdom

2. In Griffith Corporate Centre Office, St. Vincent & Grenadines 

Address: Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent & Grenadines

*** It is a small island country, where many Forex brokers come together. There are both big brokers who expand branches and register their brokers here (such as HotForex, Fair Forex, Templer FX, Diamond FX, AMarkets, TIO Markets Ltd, World Forex, AAAFx International, Goldencapitalfx, PAXFOREX, WesternFX, FxGen, BCS Forex, Global Liquidity Exchange, TNFX and many more).

*** Brokers with bad reputation usually have only one office here ***

Contact Channels

     

4th Rank Broker : TICKMILL

Tickmill PRO account is the account with the lowest trading cost (Spread, Commission and Swap) from a total of 43 tested accounts of over 17 brokers.

It is very suitable for short-term traders, day trading and scalping.

The only drawback is confirming identity takes quite a long time.

Quick Tickmill Review

Advantages of Tickmill
  • Spread is very low.
  • Can open-close orders quickly
  • Website is easy to use.
  • Applying for an account is very easy.
Disadvantages of Tickmill
  • Long verification
  • Long waiting time for the live chat
  • Pro account commissions are different for each currency pair.
Bonuses, promotions and interesting things
  • Welcome account gives 30 USD for new customers who have never opened an account with Tickmill.
  • Rebate bonuses are organized periodically, usually held in the middle of the year

Tickmill Summary

Regulatory Organization (License)

License Certificate (Regulator)

1. FSA SC (Seychelles Financial Services Authority)

2. FCA UK (Financial Conduct Authority)

  • License Certificate No: 717270 (For Tickmill UK Ltd)
  • License Certificate No: 733772 (For Tickmill Europe Limitd)
  • Clients become a member of the FSCS, which protects customers’ funds for compensation in case of company bankruptcy up to £85,000 : Click to see details
  • Click to view the License Certificate

3. CySec (Cyprus Securities and Exchange Commission)

  • License Certificate No: 278/15
  • Tickmill Europe Ltd
  • €20,000 insurance in case of company bankruptcy.
  • Click to view the License Certificate
  • Countries provided services under this license.

cysec tickmill

4. LFSA (Labuan Financial Services Authority )

5. FSCA (Financial Sector Conduct Authority)

  • License Certificate No: FSP 49464
  • Tickmill South Africa (Pty) Ltd
General Information of Tickmill

Head Office

Tickmill does not have a head office but there are offices scattered around the world, according to the license held.

FSA

Address : 3, F28-F29 Eden Plaza, Eden Island, Mahe, Seychelles

LFSA

Address : Office No. 5, Unit 25,1st floor Paragon Labuan, Jalan Tun Mustapha, 87007 Labuan F.T., Malaysia

FCA

Address : 3rd Floor, 27 – 32 Old Jewry, London, England, EC2R 8DQ

CySec

Address : Kedron 9, Mesa Geitonia, Limassol 4004, Cypr

Contact Channels

     

5th Rank Broker : Pepperstone

The Australian broker holding the ASIC and FCA licenses, which are the two very trusted licenses. Overall in the benchmark, the only drawback is the account opening process that many people complain a lot about on the fact that there are too many questions that have to be answered.

Quick Pepperstone Review

Advantages of Pepperstone
  • Broker from Australia
  • Has a high popularity in the world
  • Smooth trading, no lag
  • There is a Copy Trade system.
Disadvantages of Pepperstone
  • When applying, you have to answer too many questions.
  • Slow account opening
  • The minimum deposit is quite high.
  • No bonus
Bonuses, promotions and interesting things

There are currently no bonuses and promotions, announce on the website pepperstone.com

Pepperstone Summary

Regulatory Organization (License)

1.  ASIC (Australian Securities and Investments Commission)

2. FCA (Financial Conduct Authority)

  • License Certificate No: 684312
  • Pepperstone Limited
  • Available for customers within the EU (European Union) region.
  • Compensation insurance of up to GBP 85,000 per person.
  • Click to view the License Certificate

3. DFSA (Dubai Financial Services Authority)

  • Available for customers within Middle-Eastern countries
  • Middle East: 16 countries: Bahrain, Egypt, Iran, Turkey, Iraq, Israel, Jordan, Kuwait, Lebanon, Qatar, Saudi Arabia, Syria, United Arab Emirates, Yemen and Palestinian Territories

4. SCB (Securities Commission of The Bahamas)

  • Available worldwide
General Information of Pepperstone

Head Office 

Head Office of Pepperstone is located in Melbourne, Australia

Address: Level 16, Tower One, 727 Collins Street

Melbourne, VIC Australia 3008

Contact Channels

      

6th Rank Broker : FXPRO

FxPro is a very good credit rated forex broker from Creditsafe and Duedil, rated higher than the big brokers like Forex.com and ETX Capital.

This broker has quite a number of licenses and is also known as a supporter of famous English football clubs Watford FC, Fulham FC and Aston Villa FC.

fx pro logo

Quick FxPro Review

Advantages of FxPro
  • There are various trading platforms.
  • has high credit scores
  • 24/5 Live chat 
  • Sponsors famous football teams
  • Fast trading
  • Obtained quite a lot of licenses
Disadvantages of FxPro
  • Too many account types
  • Able to open up to 5 accounts only
  • No bonuses and promotions
  • No Copy Trade system
Bonuses, promotions and interesting things
  • The company has no policy to provide bonuses and promotions.

The company notice explain why they don’t provide bonuses and promotions

Whether to open an account with FxPro or not is up to the customer’s decision, in the credibility of the company and in the experience that customers actually use the service and trade with FxPro. The company does not want to use bonuses and promotions to attract customers.

FxPro Summary

Regulatory Organization (License)

Regulator

1. FCA (Financial Conduct Authority)

2. CySec (Cyprus Securities and Exchange Commission)

3. FSCA (Financial Sector Conduct Authority)

4. SCB (Securities Commission of The Bahamas)

EEA Registrations (License to conduct financial business in the European Economic Area)

General Information of FxPro

Head Office

Head Office of FxPro is located in London, United Kingdom

Address : 13-14 Basinghall St, London EC2V 5BQ, United Kingdom

Contact Channels

  • Live chat : fxpro.com
  • Email : [email protected]
  • Tel : 
    • United Kingdom : 08000 463 050

    • Cyprus : +357 25 969 200

    • Monaco : +44 (0) 203 151 5550

    • Bahamas : +1 242 603 2224

     

7th Rank Broker : IC MARKETS

IC Markets is one of the largest Forex brokers from Australia. It is very well known in the trading industry, internationally recognized, with quite a lot of trading products. It is considered another broker that is satisfactory in various fields.

The disadvantage is that the Live chat has a very long queue, there has been improvement recently, but it is still considered a long time.

ic market

Quick IC Markets Review

Advantages of IC Markets
  • The broker is highly reliable.
  • World famous and popular
  • Lots of products to trade
  • Trading server is quite stable.
Disadvantages of IC Markets
  • Live chat, long queues
  • No bonuses and promotions
  • Stop out level 50% for all accounts
Bonuses, promotions and interesting things

IC Markets does not have any bonuses and promotions policy.

IC Markets Summary

Regulatory Organization (License)
  1. CySec (Cyprus Securities and Exchange Commission)
  2. FSA (Seychelles Financial Services Authority)
  3. ASIC (Australian Securities and Investments Commission)
General Information of IC Markets

Head Office 

Head Office of IC Markets is located in Sydney, Australia

Address: International Capital Markets Pty Ltd, Level 4, Carrington Street, Sydney, NSW 2000, AU

Contact Channels

     

8th Rank Broker : FBS

FBS is a very good online marketing broker. We often come across this broker on various advertising media. With FBS being considered poor, this is because there is no customer capital protection policy and there are frequent issues of fraud. This creates a lot of distrust for the company.

fbs logo

Quick FBS Review

Advantages of FBS
  • Lots of promotions
  • Having a Swap Free account
  • Smooth trading
  • No Requotes
  • Leverage of up to 1:3000
Disadvantages of FBS
  • Live chat support staff does not answer clearly.
  • High spread
  • There is no policy to protect customer funds
Bonuses, promotions and interesting things

It is said that FBS is a broker that has a lot of promotions such as;

  • Lucky T-shirt
    • For minimum deposit of $500
    • 2 lots Trading
  • Level Up Bonus
    • Get free $70 in trading account within 20 days
    • If using the FBS Trading App, it will increase to $140.
  • Deposit bonus
    • 100% of the deposit amount
  • Cashback
    • Cashback from FBS – Earn up to $15 per lot
  • Quick Start Bonus
    • Get $100 Free bonus without deposit
    • Trade in FBS Trader

FBS also organizes many trading contests that are held annually

FBS Summary

Regulatory Organization (License)

License Certificate (Regulator)

1. IFSC (The International Financial Services Commission)

  • License Certificate No: IFSC/60/230/TS/19
  • FBS Markets Inc.
  • Available worldwide
  • FBS does not provide such service in the following countries: Japan, United States, Canada, United Kingdom, Myanmar, Brazil, Malaysia, Israel and the Islamic Republic of Iran.
  • Click to view the License Certificate

2. CySec (Cyprus Securities and Exchange Commission)

cysec fbs

General Information of FBS

Head Office

Head Office of FBS is located in Russia

Address : Not disclosed (the team has tried to ask the staff many times, but they refused to disclose the address of the head office)

Contact Channels

     

9th Rank Broker : Alpari

Alpari is a long established Forex broker, founded in 1998 with a stable server, trading is smooth, with no lag.

The disadvantage of this broker is that it has only one license, which is owned by FSC (Mauritius), thus lowering its credit score.

alpari logo

Quick Alpari Review

Advantages of alpari
  • Trading server is stable.
  • Applying for an account is quite easy.
  • Been in business for a long time
  • Copy Trade service available
Disadvantages of alpari
  • There is an account maintenance fee in case of no trade.
  • There is only one license.
  • “Swap free” is unusable in real trading.
  • Can open a maximum of 4 accounts.
  • Verification documents must be updated regularly.
  • Support staff does not answer clearly.
Bonuses, promotions and interesting things

Alpari Summary

Regulatory Organization (License)

License Certificate (Regulator)

1. FSC (Financial Services Commission) – Mauritius

  • License Certificate No : C113012295
  • Click to view the License Certificate
  • Available worldwide
  • Except USA, Mauritius, Japan, Haiti, Suriname, the Democratic Republic of Korea, Russia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Armenia, Moldova, Tajikistan, Uzbekistan, Turkmenistan, Ukraine, Georgia, New Zealand and Canada
General Information of Alpari

Head Office 

Head Office of alpari is located in Mauritius (An island country off the coast of Africa in the southwest Indian Ocean)

Address: Exinity Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius

Contact Channels

     

10th Rank Broker : Vantage FX

Another broker from Australia with licenses from ASIC and FCA, which are the two very strict international standard regulatory organisations.

Spread fee on Raw ECN accounts is very low, supports various trading styles

Vantage FX has quite a number of bonuses and promotions.

Most importantly, Tradingview is available for free in the Pro version.

vantage fx

Quick Vantage FX Review

Advantages of Vantage FX
  • Broker from Australia
  • Spread is very low.
  • Lots of products to trade
  • Tradingview Pro service available
Disadvantages of Vantage FX
  • Slow account opening
  • No answer on messenger (Facebook)
  • Long waiting time for the live chat
Bonuses, promotions and interesting things
  • Refer a Friend
  • Active Trader Program
  • Deposit Bonus

Vantage Summary

Regulatory Organization (License)

License Certificate (Regulator)

1. Cayman Islands Monetary Authority (CIMA), Securities Investment Business Law (SIBL)

CIMA Vantage Fx

2. Australian Securities and Investments Commission (ASIC)

3. Financial Conduct Authority (FCA)

General Information of Vantage FX

Head Office

The location of Vantage FX’s Head Office is stated on its website to be in the Cayman Islands.

Address: Level 4, 42 N Church St, George Town, Cayman Islands

Actually, Vantage FX is just a subsidiary of its parent company, Vantage Prime Group, headquartered in Australia. Vantage FX Australian branch also uses this office as well.

Address: 29/31 Market St, Sydney NSW 2000

Contact Details

   

Scoring Criteria of the Forex Brokers Rating Review

To rank the Top 10 Best Forex Brokers, we have rated them based on a variety of factors:

  • Lowest Trading cost (Spread, Commission and Swap)
  • Reliability (year of establishment, licenses, customer capital protection and transparency)
  • Reputation and popularity
  • Service
  • Trading experience

We will take the aforementioned factors into consideration to select the 10 best Forex brokers.

Selecting the Best FOREX Broker

Our consideration of the Forex brokers is based on real experience with them, both from real money deposits and real trial trading so as to obtain the same feelings traders experience in order to bring the best selection of the best brokers for all traders. This is to ensure that customers are to trade with a good broker, not having to get caught up in a bad broker. We believe that by providing all of this information, it shall benefit all traders more or less.

References

  • Alpari
  • Exness
  • FxPro
  • IC Markets
  • Land-Fx
  • OctaFx
  • Pepperstone
  • ThinkMarkets
  • Tickmill
  • FBS
  • Forex.com
  • FXCM
  • FXTM
  • IG
  • OANDA
  • Vantage Fx
  • XM

Writer : Yoda Yoshida

  • Position : Editor
  • Biography : Former waiter to professional traders
  • Experience : 20 years in the Forex industry
  • Goal : To select the best broker for traders.
  • Short greetings : Some things take time to grow.
  • Full biography of the writer, Click >