Best Forex Trading Platform 2022

 

Forex trading or Forex refers to the exchange of currencies with the hope of earning profit. If one person can tell which currency is going to be stronger, he can make a good amount of money from this information in the forex market. A forex or FX market is one where the currencies are traded. FX is the largest and most highly liquid market in the financial world, with an average daily trading volume of around 6.5 trillion dollars.

However, in order to access this market, a trader will need to open an account through a trading platform commonly known as a broker. A broker works as a middleman between the forex market and a trader. It provides a platform for a trader who can trade currencies of his choice on the forex market with a single purpose of earning money.

There are thousands of forex brokers in the world; however, choosing the best forex trading platform can be challenging. It is almost impossible to visit and go through the website of each and every broker to make a decision. It must also be noted that each broker offers different rates, services, and features, and one broker might be a good fit for one trader and not for another.

So, it could be challenging to find a broker with your required services and rates. Conducting thorough research is helpful in finding the right choice and saves you from being scammed. There are a number of scammers or fake brokers in the financial world, and it is very hard to tell which broker is legit and which one is fake.

There are a number of ways to find out about the legitimacy of the broker. One of them is checking its regulation. But it could be hard to go through the website of each and every platform and check its registration.

For your ease, we have gathered information about different trading platforms so that you can choose the best forex trading platform for your requirements and save time. The best forex trading platform list includes FXTM, XM, OCTAFX, and Pepperstone. Let us have a look at what different kinds of brokers are offering and how their services can fulfil your needs. These platforms are considered as best forex trading platforms in 2022

FXTM

Our number one pick of the best forex trading platform is FXTM. The term FXTM is a short form of Forex Time Limited. It has headquarters in Cyprus and is one of the most popular Forex and CFD brokers. The FXTM has been in the business since 2011.

In just one decade, the FXTM has secured the confidence of about 4M people. The main reason behind people trusting this platform is its globally regulated status. The funds are also fully segregated, and the services are offered to more than 150 countries around the world.

It offers more than 1000+ trade-able assets, including FX, Metals & Commodities, and Stocks & Indices. It claims to provide a first-class education to its clients as well as newbie traders. The best thing about FXTM is its customer support which is available 24/5.

Another important thing about FXTM is that its trading platform is supportive of MT4 and MT5, which means traders can execute trades through mobile apps while on the go. The broker platform provides a number of account types suitable for every type of trader, whether experienced, institutional, or fresher. This forex trading platform offers leverage up to 1:2000.

It also offers Demo Account to its newbie as well as experienced traders to get a grip on the trading platform and have experience of trading without staking real money. The pricing structure followed by FXTM is also very reasonable and competitive, which is why it is our number one pick in the article related to the best forex trading platform for 2022.

Regulation: Cyprus Securities & Exchange Commission (CYSE), Financial Sector Conduct Authority (FSCA), Financial Conduct Authority (FCA), Financial Services Commission (FSC).
Tradeable Assets: 1000+ including Forex, Metals, Commodities, Stocks, and Indices.
Countries Availability: 150+
Minimum deposit: $10
Spread/Commission: Zero Commission on US stocks, ranges from $0.0 to $0.04 and $2.
Customer Support: 24/5 through Email, Chat, and Phone Call
Payment Methods: VISA, MasterCard, Maestro, Skrill, WebMoney, Bank Transfer, Local Transfer, and Neteller.
Current Users: 4 Million
Trading Platform: MT4, MT5, and FXTM Web Trading
Leverage & Margin: It starts from 1:3 and goes to 1:500, 1:1000, and 1:2000
Educational Material: Webinars, Seminars, Ebooks, and Videos.

XM Group

The second pick in our best forex trading platform is XM. It is a global forex and CFD trading platform that was founded in 2009. It is a highly regulated broker based in Belize.

In just 13 years, the broker platform has gained the confidence of over 5M traders. The company provides services to more than 190 countries around the world. XM boasts that they provide 16 full-feature trading platforms and have staff that supports more than 30 languages.

One of the best things about the XM platform is that it provides educational material in video format as well as in 25+ languages. It helps the broker to be the choice for traders from all around the world. Just like FXTM, XM also provides trading in more than 1000 tradable assets, including Forex, Cryptocurrencies, Stocks, Commodities, Indices, and Metals.

It also offers a web trading platform supportive of MT4 and MT5. Furthermore, it also offers the XM App for iPhone and Android phones, which can make the execution of trades easier. The customer support of XM is super friendly and available 24/5 in 25+ languages.

The fee structure of XM is highly transparent. It offers four different types of accounts and also an Islamic account. The minimum deposit required is $5. It also supports various payment methods.

One of the most appealing features of the XM platform is its reward program. It offers up to a $5000 deposit bonus as well as a referral bonus and loyalty bonus. Most of its account types are free of Commission, and the spread fee is very low. The leverage provided by XM starts with 1:1 and goes to 1:888.

Regulation: Cyprus Securities & Exchange Commission (CYSE) and Financial Services Commission (FSC).
Trade-able Assets: 1000+ including Forex, Metals, Commodities, Stocks, and Indices.
Countries Availability: 190+
Minimum deposit: $5
Spread/Commission: Zero Commission on most account types
Customer Support: 24/5 through Email, Chat, and Phone Call
Payment Methods: Credit Cards, Multiple Electronic Payment Methods, Bank Wire Transfer, Local Bank Transfer
Current Users: 5 Million+
Trading Platform: MT4, MT5, and XM Web Trading
Leverage & Margin: It starts from 1:1 and goes to 1:888
Educational Material: Webinars, Seminars, Ebooks, and Videos & Live Education.

Pepperstone

Pepperstone was founded in 2010 and had headquarters in Melbourne, Australia. It is a global forex trading platform that offers more than 1200 tradable instruments, including FX, cryptos, indices, shares, and more. The broker is one of the highly regulated brokers with over seven licenses from regulatory bodies around the world.

It has around 300,000 traders around the world, and the count is increasing day by day. One best thing is its tight spreads which are as low as 0.0 pips. The execution of trades at Pepperstone is really fast as it provides access to the world’s most popular trading platforms, including TradingView and MT4 MT5, and more.

Various organisations have awarded this platform globally, including Victoria State Government, BRW, Investment Trends, UK Forex Awards, EY, and Deloitte. Pepperstone provides different types of accounts and offers demo account facilities. The Standard Account charges no commission, but the Razor Account charges commission of $3.5.

It also offers a Swap Free Account and Active Trader Program. The minimum deposit at this broker is set as $200. One best thing about this forex broker are that it’s funding and withdrawal options are free of cost, it is why we have included Pepperstone in our Best Forex Trading Platform list.

It also accepts a large number of payment methods, including the most commonly used ones. The educational learning provided by Pepperstone to its clients is really helpful as it contains Webinars, trading guides, and much more. The customer support of this forex trading platform is available through email and phone calls and is award-winning. The broker also pays referral rewards to its clients under its referral program. The platform also provides negative balance protection to all account types.

Regulation: Cyprus Securities & Exchange Commission (CYSE), Australian Securities and Investments Commission (ASIC), Capital Market Authority of Kenya (CMA), Securities Commission of Bahamas (SCB), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), and Financial Conduct Authority (FCA).
Trade-able Assets: 1200+ including Forex, Metals, Commodities, Stocks, ETFs, and Indices.
Countries Availability: N/A
Minimum deposit: $200
Spread/Commission: Spread varies from asset to asset, starting from 0.3 pips.
Customer Support: 24/5 through Email and Phone Call
Payment Methods: VISA, MasterCard, POLi, Bank Transfer, PayPal, Neteller, Skrill, Union Pay, and BPay.
Current Users: 300,000+
Trading Platform: MT4, MT5, TradingView, and cTrader
Leverage & Margin: it starts from 30:1 and goes to 1:400
Educational Material: Webinars, Seminars, Ebooks, Glossary, and Videos.

HF Markets

The third Best  Forex Trading Platform is in operation since 2010 and has been providing brokerage services to more than 200 countries over the globe. It is HF Markets, also known as Hot Forex Markets. The company has headquarters in Cyprus but it also operates in different countries.

It is also one of the highly regulated broker platform with licenses from 5 different regulatory bodies around the world. The minimum deposit amount required by HF Markets is $5. It offers more than 1200 trading instruments and 12 trading platforms.

The platforms include its web portal as well as MT4 and MT5 which makes trading easier as they can be accessed through mobile phones. Furthermore, the company is well-known for charging very tight spreads ranging from 0.0 pips to 0.2 pips. The spread varies according to account types.

HF Markets offers 6 different types of accounts suitable for every type of trader. The account types are as follows: Micro, Premium, Premium Pro, Zero Spread, HF Copy, and Islamic Account. It also offers a demo account to get an experience of their services before investing real money. The broker supports a number of payment methods and charges zero deposit and withdrawal fees.

One unique thing about HF Markets is that its customer support is available in 27 languages. Another important feature of HF Markets is its trading tools which are beneficial to all types of traders. The educational center of this broker platform is also outstanding. It claims to be one of the brokers with lower rates in the industry and follows a transparent pricing policy.

Regulation: Cyprus Securities & Exchange Commission (CYSE), Financial Conduct Authority (FCA), Dubai Financial Services Authority (DIFC), Financial Sector Conduct Authority (FSCA), and Financial Services Authority (FSA).

Tradeable Assets: 1200+, including Forex, Commodities, Metals, Indices, Bonds, and ETFs.

Countries Availability: 200+

Minimum deposit: $5

Spread/Commission: spread varies on all assets, starting from 0.0

Customer Support: 24/5 through Email, Chat, and Phone Call

Payment Methods: Wire Transfer, MasterCard, VISA, FasaPay, Neteller, Perfect Money, Skrill, and Web Money

Current Users: 10 Million+

Trading Platform: MT4 and MT5.

Leverage & Margin: Upto 1:400

Educational Material: Webinars, Seminars, Events, Podcast, e-Courses, and Videos.

OCTAFX

The third Best Forex Trading Platform was Launched in 2011 with headquarters in St Vincent, Grenadines, and the United Kingdom, and it is known as OCTAFX. It has maintained a well-reputation in the financial world. It has about 10 Million+ forex trading accounts, and it covers more than 150 countries around the world. It is also a regulated broker, which makes it a reliable broker. The tradable assets include currency pairs, Index CFDs, and cryptocurrencies. One of the best and unique things about this platform is its customer support which is available 24/7. It offers two types of trading accounts and also an Islamic account type. It also offers a demo account service to give an experience of its platform to newcomers before investing virtually. OCTAFX reward program is also one of its best features, where traders can receive referral rewards and monthly rewards. The spreads and commissions vary from asset to asset and are available on the website. It supports various payment methods, including Perfect Money, wire transfer, bank transfer, as well as crypto payments. Another important feature is its mobile trading app OctaFX Copytrading App. The platform is also supportive of MT4 and MT5. The educational material and learning provided by OCTAFX include Webinars, Videos, and a glossary. In short, OCTAFX has been in business for over ten years and has managed to secure more than 10M users, which is a great milestone. The website of OCTAFX supports more than 11 languages.

Regulation: Cyprus Securities & Exchange Commission (CYSE)
Tradeable Assets: less than 100, including Forex, Commodities, and Cryptocurrencies.
Countries Availability: 150+
Minimum deposit: $100
Spread/Commission: spread varies on all assets, starting from 0.2
Customer Support: 24/7 through Email, Social Media, and Phone Call
Payment Methods: Bank Transfer, Perfect Money, VISA, Bitcoin, Skrill, Neteller, Litecoin, Dogecoin, Tether, MasterCard, and Ethereum.
Current Users: 10 Million+
Trading Platform: MT4, MT5, and OCTAFX Web Trading and Mobile App
Leverage & Margin: Upto 1:500
Educational Material: Webinars, Seminars, and Videos.

Final Thoughts

It is very crucial to conduct thorough research before choosing the best forex trading platform. We have narrowed down one of the best trading platforms for your ease. We have mentioned every feature and service they offer to make your research fast and easy.

Our best pick is FXTM as it is not only regulated by different authorities but also provides a good trading experience at very low rates. The leverage at FXTM is highly attractive for experienced traders.

Furthermore, it has been in business for over ten years, which makes it highly reliable and trustworthy. The spreads are also very low compared to other brokers. It also offers a wide range of trade-able assets and accepts a number of payment options, making it feasible for traders worldwide. Our recommendation is that FXTM is the best forex trading platform. However, every trader has his own needs, and we would suggest you go through the features of each and every broker platform to find the best-suited one.

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