What is Forex Broker?
The forex brokers are the financial institutions that act as a middle man between the individual trader client and the FX market. They show their presence by remaining online in the form of an official website and attracting smaller traders who want to trade on a margin basis. They facilitate forex traders to execute their forex deals through their electronic trading platforms. Along with offering their proprietary trading software, most forex brokers also offer 3rd party forex trading platforms like Meta Trader 4 and Meta Trader 5. Read a comprehensive note on the best forex brokers as we will discuss them in detail.
Top 3 Award Winner Forex Broker in 2022
All online broker participants were assessed on 113 different variables in seven categories to perform a survey for the ForexBroker.com 2022 Annual Review. The total data points collected were 4407 in numbers. ForexBrokers.com ranks the brokers in primary categories and popular investor categories. Thus, ForexBrokers.com awards the brokerages who perform exceptionally well in critical areas for investors. Below we will discuss the top 3 forex brokers according to the ForexBrokers.com 2022 Annual Review.
IG Forex Broker
It is the most regulated and trusted forex broker globally and the ForexBrokers.com 2022 Annual Review, winner. IG is a brilliant broker that offers traders an excellent trading package and research tools, industry-leading education, brilliant market research, and a broad list of tradeable products. All these things make it the best overall broker.
- Credibility: IG is the publically traded broker maintained in 6 tier-1 jurisdictions, making it safe for forex trading and CFDs trading.
- Commission Rates: IG brokers use the size of the trade to formulate consistent trade pricing across the board, regardless of the trading product. It gives access to active trader pricing through its Forex Direct Accounts.
- Trading Platforms: it offers Meta Traders, premium MT4 add-ons from FX Blue, and only 76 tradeable instruments. Thus, it is the best forex broker offering an extensive range of tradeable markets.
Saxo Bank Forex Broker
Saxo Bank is the best forex broker for traders who can manage the steep $2,000 minimum deposit to make the trade. It offers reasonable pricing, brilliant trading platforms, excellent research, reliable customer service, and over 40,000 trading instruments.
- Credibility: Saxo Bank works with multiple regulated banks and has a license in six tier-1 jurisdictions. All these stats make it a safe broker for forex trading and CFDs trading.
- Commission Rates:Saxo Bank has an all-around pricing schedule for active traders. It has competitive pricing in its Platinum and VIP accounts. Both require a $200,000 and $1 million balance, respectively.
- FX Trading Platforms: It offers brilliant Saxo Trader Client experience with 40,000 tradeable instruments. SaxoTraderGo is a terrific platform with Saxo Bank’s flagship and offers everything a trader needs to navigate the market.
CMC Markets Forex Broker
CMC Markets is the Podium finisher and a globally-trusted broker that offers brilliant facilities to traders due to low pricing and nearly 10,000 tradeable instruments. It is the Next Generation trading platform with quality research and innovative features like Dynamic Trading Portfolio.
- Credibility: CMC Markets is a publicly traded broker regulated in four tier-1 and two tier-2 jurisdictions. These credibility figures show that it is a safe broker for forex trading and CFDs.
- Commission Rates: CMC Markets is leading the chart due to its low-cost trading. It offers measurably low trading costs to traders compared to the industry average.
- FX Trading Platforms: The CMC Markets is a Next Generation broker platform offering a massive selection of 10,000 tradeable instruments. It offers advanced tools, comprehensive market research, and a fantastic mobile app. Thus, CMC Markets is a terrific broker offering a brilliant user experience.
The Forex market is an active financial marketplace and trading platform used worldwide. You can earn a good income while trading forex, but you need a reputable forex broker to maintain credibility and trade in safe hands. Therefore, in this article, we have tried hard to discuss the top 3 forex brokers of the market thoroughly. These are the brokers that give you a guarantee of safe trade, and you can rely on them without any risk. Thus, start trading forex now to earn a healthy earning and approach these brokers for safe trade.