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TOP FOREX BROKERS REVIEW

THE INTERNET'S MOST COMPREHENSIVE LIST OF ONLINE FOREX BROKERS AND FOREX REVIEWS. 

Compare Forex Brokers Platform 2022

Top Forex Brokers Review compare forex brokers like FP Markets, FxPro, FXChoice, IC Markets, XM, and Pepperstone based on the broker spread comparison, deposit and withdrawal fees, trading platforms, and fast execution. On top of that forex platform comparison with wide range of trading pairs and strong customer support.

FP MarketsFxPro GlobalFXChoiceIC MarketsXM GlobalPepper Stone

Compare Forex Brokers: Regulations and Licenses

Forex Broker Comparison Regulations and Licenses

Brokerage

Forex Broker Comparison Brokerage

 

FP Markets Open an Account

FP Markets

FP Markets: Has the Largest Range of Trading Instruments (13,000+)

FP Markets is one of the largest brokers in the world. The broker is based in Australia and allows international clients to participate in the forex market. Among what they offer, you will find both ECN Pricing and Direct Market Access with CFDs. With such a selection, it is easy for FP Markets to give you an efficient way of trading with almost instant execution and incredibly thin margins which makes FP Markets one of the best forex brokers on our forex platform comparison.

Are FP Markets Safe? Do they Deserve Your Trust?

In our broker spread comparison we are going to find out about FP Markets lowest offer spread accounts and weather FP Markets is trusted or not. FP Markets is the best overall when it comes to the range of variety in services and markets offered.

  • High leverage of up to 500:1
  • Near-instant execution
  • Hosts popular forex platforms
  • Free demo account available
  • A variety of CFD instruments
  • Low deposit minimum
  • Withdrawals and deposits are easy
  • Reliable and multi-lingual customer service
  • Islamic Account: Yes
  • No Inactivity Fess: Yes
  • Guaranteed Stop Loss Order: Yes - Only by CySEC

That is most of what FP markets is all about in summary. To get a clearer picture, we have to look at some of the things that make FP markets a best forex broker on our compare forex brokers list.

fp markets crowned as best fx broker australia 2021

What Makes FP Markets One of The Best?

On our FP Markets forex broker compare, we will provide you of the reason what’s makes FP Markets one of the best forex brokers on our forex platform comparison.

The Range of Markets Offered

In this section, we are going to look at the Australian broker’s offer in both CFDs and Forex trading. Our forex broker comparison found that the broker offers access to over 13,000 trading instruments. Some of the products and markets FP Markets offers to include:

  • Shares CFD

Also known as Equities, FP Markets allows the trading of shares using MT4/MT5 and IRESS. If you use MT4 and MT5, you can have your pick from 20 stocks. The shares you get use ECN pricing. The fees are incorporated into the spread, eliminating commissions.

IRESS is not like MetaTrader because they offer thousands of different stocks for trade through DMA (Direct Market Access) execution. The commission costs are usually at 0.08% per side.

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  • Forex Trading

There are over 50 pairs included, with the most popular options like EUR/USD, AUD/USD, and GBP/USD including all cross pairs can be traded using FP Markets platforms.

  • International Futures CFDs

With FP Markets, you will have access to the most popular international exchanges. The exchanges you will access include; CFE, CME, CBT, and NYM. When you are trading these and other CFDs, you will have three account types to choose from. The best one is premier but they all have requirements we will list here:

STANDARD

  • Minimum opening balance- $1,000
  • Brokerage rate- $10 min, then 0.1%
  • Financing- FP Markets Base rate +4.0%

PLATINUM

  • Minimum opening balance- $25,000
  • Brokerage rate- $9 min, then 0.09%
  • Financing- FP Markets Base rate +3.5%

PREMIER

  • Minimum opening balance- $50,000
  • Brokerage rate- No min, then 0.08%
  • Financing- FP Markets Base rate + 3.0%

As usual, be careful when dealing with CFDs.

  • Index CFDs

In our compare forex brokers we found that with FP Markets index options you will get some of the best forex brokers regulated by ASIC. Markets you can trade here include the FTSE 100, Dow Jones, NASAQ and the Sydney Futures Exchange, and cryptocurrency like Bitcoin (BTC).

As a trader, you will have the chance to use the Index CFDs and open positions on the entire market instead of focusing on individual stocks. On our compare forex brokers those traders who focus on trading, CFDs, Index and cryptocurrency, FP Markets offers a wide range of markets and services, making it the industry leader among many of the top forex brokers.

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Compare Forex Brokers: Trading Platforms + Tools

Trading Platforms + Tools

FxPro

FxPro: Trade Like a Pro on CFDs and Forex Markets

FxPro was founded in 2006 in the U.K. and has executed more than 250,000,000 orders. In 2017, they were voted the most trusted forex brand in the U.K. At this moment, they operate in 173 countries and have more than 870,000 client accounts and €100 million of Tier 1 capital which makes FxPro one of the leading forex broker on our forex platform comparison list.

fxpro

Some of FxPro’s unique features include an algorithmic trading center that works well with MT4/MT5. With this, you'll create your trading strategies and custom indicators. They even have a virtual private server (VPS) that permits the clients to upload and run MT4 Expert Advisors and algorithm robots 24/7 without having to stay the trading terminal active.

compare forex brokers with FxPro -Join Now

As for the choices you get when you use their services, you will find that they offer:

  • Over 70 C pairs
  • More than 150 unique equity shares
  • Futures (an unusual move for a forex broker company)
  • Stock indices
  • Commodities

forex platform comparison -FxPro Join Now

They will provide you with all this and also offer you both CFD and spread. With spread, you'll get tax advantages as a U.K. citizen. Not only do they need of these great options, but their customer service is additionally excellent. The support is multi-lingual, available 24/5. The live phone network works well with a toll-free number within the U.K., France, UAE, Germany, and Russia.

Because of the range of forex pairs and the opportunity to trade equity indices, commodities, and futures.

Markets and Instruments

Markets and Instruments

FXChoice Forex, Crypto, Indices, and Commodity Broker

FXChoice: Offers a Wide Range of Services

FXChoice started its operation in 2010 and became one of the leading Forex brokers in the market. They offer a variety of platforms and tools to traders, as well as 24/5 support. FXChoice also has a wide range of trading products and services available, making it a great choice for those looking for extensive trading experience.

Regulations

FSC in Belize regulates the FXChoice. The FSC is a financial regulatory body in Belize. It was established in 1992 and provided oversight of the country’s financial sector, including the regulation of foreign exchange, securities, insurance, and banking. The FSC has four specialized divisions: Banking and Financial Services; Foreign Exchange and Currency; Securities and Exchange; and Insurance.

FXChoice-open-account

Types of Account

Usually, forex trading account types can be classified into three categories: institutional accounts, personal accounts, and demo accounts. And FXChoice offers all three accounts but in different names. They offer classic accounts and pro accounts.

Classic forex trading accounts are for individuals who want to trade stocks and commodities but do not have the capital or experience to do so on their own. On the other hand, Pro forex trading accounts are typically used by large financial institutions such as hedge funds and banks. And finally, FXChocie demo accounts are used by traders to learn how Forex works before investing money in a real account.

While all these accounts offer their benefits, there are similarities too. For example, access to more than 50 instruments, a $100 minimum deposit, 1:200 max leverage, NDD, Market Maker, MT4, and MT5 trading platforms.

FXChoice-Join-Now

FXChoice Services

FXChoice services include Myfxbook’s AutoTrade, VPS, ZuluTrade CopyTrading, MQL5 signals and Expert Advisors (EAs).

The MQL5 signal service provides traders with real-time alerts about trades that may be beneficial or harmful to their investment portfolio. These signals can help traders make informed and highly active as well as profitable decisions in the market.

For those who are new to the market, it can be intimidating and difficult to know what to do. Luckily, FXChocie offers Myfxbook’s AutoTrade features available that can help make the process easier. These features can help you track your performance, set your limits, and more. Using these tools, you can lessen the time and effort required to trade Forex.

FXChoice integrates the ZuluTrade CopyTrading, which allows users to copy trade other traders’ positions. The platform provide a numerous features, such as order management and chat support. However, ZuluTrade charges a fee for its services.

FXChocie provides EAs using the MT4 trading platform. Eventually, EAs help to make more informed investment decisions, the ability to take advantage of market trends, and the potential for increased returns. Expert advisors can help you hedge your portfolio, trade on margin, and optimize your risk-reward profile.

FXChocie’s VPS service lets you create your virtual server. This means you will get your very own dedicated server. You can also choose to have the FXChocie service manage everything for you, or you can manage everything yourself. With the VPS, you will not face slippage issues in your trading. Hence, you will experience fast trading.

Platforms

There are a number of different forex trading platforms available, but the most popular ones are MetaTrader 4 and 5. And FXChoice provides both types of platforms for all the traders.

You can use both MT4 and MT5 platforms on any devices you want. Also, you will get access to a wide range of indicators through the MT4 and MT5 platforms.

Overall, FXChoice offers a variety of features that can help traders improve their forex trading skills. These features include real-time market data, automated analysis tools, and live support from experienced traders. With FXChocie, traders can access a wide range of markets and instruments, making it a valuable resource for anyone looking to trade Forex.

FXChoice-open-account

Spreads

Spreads

IC Markets

IC Markets: Best EUR/USD Spreads

Our IC Markets review shows, they offer best features among the brokers based on True ECN. The fees for the service are much lower than most. With spreads for the EUR/USD pair starting at 0.0 pips, you can see why people prefer it.

The commission per lot is $3.50, and there are no deposit, inactivity, or withdrawal fees. With offers like these, IC Markets takes the position of one of the best forex brokers in the world. There are several cost benefits you will get when using IC Markets.

They include; low commissions, minimal additional trading costs, and ECN broker spreads.

IC Markets Open an Account

When we look through the account types offered by IC Markets, they have the lowest spreads. They are also provided with cTrader and true ECN, which they call Raw Spread. IC Markets has a 0.0 pip spread on the EUR/USD account. The IC Markets leverage allows you to exercise more flexibility in your trading.

It is the reason why we consider spreads like these, the accurate indication of an ECN account with STP. The IC Markets demo account will help you acclimate to the broker.

In our comparison, we looked through the fees to see if they reflected the way traders regard IC Markets, and they break down like this.

  1. Deposit Fees

IC Markets real accounts provide different ways that you can use to deposit money into your account. They include the following easy and convenient methods; Skrill, Bpay, FasaPay, PayPal, Skrill, and Bank/Wire transfer.

If you do international transfers, you will be charged money by your local bank, but there is no charge made by IC Markets to move the funds from your account into your bank. It all depends on which method you use. However, the deposit could take time to reflect, or it could arrive instantly.

IC Markets open an account

 

  1. Withdrawal and Inactivity Fees

When it comes to withdrawals, they do not have fees. Just like deposits, it is free to withdraw your money from IC Markets. This is standard practice everywhere. However, withdrawals to your local bank could cost you some. But this is a fee from the bank and not IC Markets.

As for inactivity, you won't be charged anything continuous periods of no use. Some other brokers charge a fee, but that does not happen at IC Markets, as our forex reviews show.

  1. Rollover Fees

Rollover fees are standard and charged by all brokers dealing with CFDs. They apply when a position is kept open and then shifted to the next trading day. These fees change now and then. Wednesday nights, they will charge you to hold a currency pair triples.

Platform

Platform

xm

XM: Low Trading Fees, Average Non-Trading Fees, Low CFD Fees

XM is one of the broker that we recommend for forex and CFD traders who like MetaTrader platforms and want low trading fees. Unlike most CFD providers who have high percentages of people who lose money when trading CFDs, only 78.28% of traders using XM lose money when trading CFDs.

Australian Broker

In addition to the low trading fees, XM is a safe broker because they are regulated by:

  • Cyprus Securities and Exchange Commission (CySEC)
  • Australian Securities and Investments Commission (ASIC)
  • Financial Services Commission ( FSC)

xm forex broker

The fees for XM vary depending on what you are looking at, but we will go through the main points we think are important here;

Trading fees at XM are low. They have three account types at different prices. The Standard and the Mirco accounts charge higher spreads, but the XM Zero account has lower spreads with a commission.

As for CFDs, the fees are generally low. Usually, they are the same as competitors and, in some cases, more moderate on our compare forex brokers list . Their forex fees are average when compared to most of the broker companies on their forex broker spread comparison level.

In addition to all this, they have a low minimum deposit of $5. Where most of the brokers you use have MetaTrader 4 only, XM has both MetaTrader 4 and MetaTrader 5.

There are no deposit or withdrawal fees when it comes to XM. The only exception is when you are withdrawing via bank wire transfer for amounts below $200.

Australian Broker

Maximum Leverage Offered

Maximum Leverage Offered

 

Pepperstone

Pepperstone: Offers a Wide Range of Platforms

If you are seeking a forex broker for a safe, reliable, and easy to use, then you may want to consider Pepperstoner. They offer a wide range of trading options, including a full suite of forex trading features. They also have different industry-leading attractive trading platforms, which are easy to use. Pepperstone forex broker offers 24/5 customer support, including live chat support, as well as phone support. There are many reasons why Pepperstone forex broker is a good choice for traders.

Regulations

The company started its operation in 2010, and since then, it has been growing steadily. Now they have licenses from three top regulators, which include the Australian Securities and Investments Commission (ASIC) in Australia, Financial Conduct Authority (FCA) in the UK, and the Dubai Financial Services Authority (DFSA) in the UAE.

As they have regulations from top regulators, Pepperstone is considered reliable and reputed.

Pepperstone Login

Offered Instruments

The company offers several market instruments such as FX pairs, commodities, index CFDs, share CFDs, cryptocurrencies, and currency index CFDs. Moreover, Pepperstone offers a wide range of tools and resources for its clients to experience smooth trading. The best thing is that all these instruments are accessible from any Pepperstone account type.

Research Tools

Research Tools

 

Pepperstone Account Types

The broker offers two types of accounts Razor and Standard accounts. While both accounts offer institutional grade spreads, the average EURUSD spread starts from 0.0-0.3 for the Razor account and .6 pips for a standard account.

There is no commission for the standard account, while the Razor account may charge a commission starting from AUD$7. And this commission is mostly charged for the forex and shares. On the other hand, the cTrader and TradingView’s commissions are a round trip for $6.

Nevertheless, the broker offers a variety of swap rates for different instruments. If you hold a currency overnight, you will need to pay swap fees to Pepperstone. Usually, swap rates are not fixed and change every week depending on the market condition and risk analysis.

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Transaction Methods

Pepperstone offers numerous transition methods for funding and withdrawals. They accept Mastercard, Visa, Bank transfer, PayPal, Skrill, Union Pay, Neteller, POLi, BPay, and more. While the deposit is mostly instant, the withdrawals may take time. For example, if you request for withdrawal after 9 PM (GMT), they will process it the following day. Besides, if you request a withdrawal by 7 AM AEST, you can get the payment on the same day.

Platforms

They offer various platforms, and you can trade from anywhere using the mobile apps for Android, iOS, and Tablets. Besides, if you are a desktop or laptop user, you can use windows and MAC operating systems too, using their smooth web application.

They offer a list of powerful charting tools using the TradingView, which is integrated with the cTrader. Further, you can easily access the industry-leading charting technology too.

They offer MetaTrader 4 and MetaTrader 5 for all the account types. The MT4 allows you to customize your trading. Also, you can create your own EAs with the help of the MQL4 programming language. Furthermore, you can also identify high profitability trades with the help of an auto chartist.

The Pepperstone MT5 offers more powerful features than the MT4. You can customize the platform with simple coding using the MQL5 programming language. The platform gives a fast processing speed and gives inbuilt indicators for the users.

Pepperstone also offers cTrader for its users. Further, you can also control slippage and order fills using the advanced cTrader features. Furthermore, you can code in C# and automate trading using the cTrader.

Pepperstone Login

How We Compiled the Forex Platform Comparison 2022

To create this table took several months, several experts, and a mountain of data. By comparing the online brokers regulated by ASIC, FCA, CySEC, and other regulatory bodies. We created a list by looking at all the suitable broker that we could find with credible credentials and good records.

With comparisons, we were able to tell what each one of them had to offer. We could also know what the edge was, for all of them. We looked at the fees like rollover rates, CFDs fees, and other essential things, including commissions.

Our mission here was to make a compare forex brokers that are suitable for all kinds of traders (beginners, intermediate and experts alike).

We focused on the following main points to make sure that the forex broker compare was as fair and accurate it could be:

  1. Regulation
  2. Instruments available
  3. Trading platforms
  4. Leverage
  5. Tools that enhance the trading experience

We eliminated the ones that had glaring problems like not being regulated by ASIC. After that, it was easy to know what to focus on and what to leave out. In the mid-level range of brokers, these are the ones that stand out in almost all the essential aspects.

To get an accurate picture of the customer support, we not only looked at the review of traders who use the platforms, but we also looked at data provided by the following regulatory bodies just to be sure:

  • Australian Securities And Investment Commission (Australia)
  • Conduct Authority (UK)
  • Sector Conduct Authority (South Africa)
  • CySEC (Cyprus)

All the information provided here is accurate at the time of compiling this forex platform comparison table and review.

Top Rated Premium Forex Signals Services

Top Rated Premium Forex Signals Services

Top Forex Brokers Review
Top Forex Brokers Review
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