Compare Forex Brokers Platform 2022
Top Forex Brokers Review compare forex brokers like FP Markets, FxPro, XM, HotForex, Axi and FBS 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.
Compare Forex Brokers: Regulations and Licenses
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.
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.
- Forex Trading
There are over 50 pairs included in this, 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:
- Minimum opening balance- $1,000
- Brokerage rate- $10 min, then 0.1%
- Financing- FP Markets Base rate +4.0%
- Minimum opening balance- $25,000
- Brokerage rate- $9 min, then 0.09%
- Financing- FP Markets Base rate +3.5%
- 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 FP Markets index options you will get here are some of the best among the 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.
Compare Forex Brokers: Trading Platforms + Tools
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 the 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.
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.
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
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
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.
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)
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.
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.
Maximum Leverage Offered
HotForex is an online forex broker that offers a wide range of services to its clients. These services include forex, commodities, indices, and stocks trading. The company also offers a wide range of account types, which cater to the needs of both retail and institutional traders. However, HotForex is a moderately risky Forex broker, with an overall Trust Score of 83 out of 99.
HorForex has regulations from different authorities. They are regulated by one Tier 1, three Tier 2, and one Tier 3 regulator. The brokerage firm has regulations from CySEC, FCA, DFSA, FSA, FSCA, and FSC. So, all these supports that HotForex is a highly secured broker.
HotForex started its journey in 2010, setting up a headquarter in Cyprus and several offices in South Africa, Dubai, and other offshore areas. However, HotForex might be popular in Asian, African, and MENA areas, but it also offers excellent opportunities globally.
To grab all types of traders, HotForex offers a wide range of accounts, namely, micro, premium, HFCopy, Auto Account, PAMM account, Islamic account, and Zero Spread Account.
When it comes to the platforms, HotForex offers ultimate flexibility through the Meta Trader 4 and Meta Trader 5. Moreover, the traders can use all these tools on various devices, including iOS, Android, Mac, Windows, etc.
The company offers many trading and analysis tools. The trading tools include HF App, VPS Hosting, Autochartist, Premium Traders tools, Trading Calculators, and more.
Additionally, the analysis tool consists of Economic Calendar, Advance Insights, Traders Board, Auto trading, One-Click trading, and more. There is no doubt that these tools definitely boost the trader's performance.
While the newbies need to learn the trading techniques, the experienced traders also need to stay updated with the current market trends. In both cases, the education tools by HotForex come handy. The education tools include HotForex Educational Videos New, Training Courses Videos, Forex Education / e-Course, Webinars Live, Events, How To Videos New, HotForex Exclusive Analysis, and ore. Podcast New
Although it has an attractive trading proposal at first glance, the trustworthiness of HoForex's business can be confirmed by its official figures and numbers, as well as the many industries awards it has won. HotForex is a globally-recognized leader in online forex trading. With more than 500,000 live accounts and multiple industry awards, they are dedicated to providing clients with the best possible trading experience.
As you already know that HotForex is a well-respected broker with strong regulatory oversight. They offer a user-friendly trading experience, with a large selection of Forex and CFD products, low fees, and a comprehensive education section that is suitable for novice traders. On top of that, HotForex offers a demo account for all the traders. As a result, a trader can check the platform before taking a final decision.
When it comes to forex fees, HotForex is highly transparent. They don't have any deposit or withdrawal fees. However, traders will need to pay any inactivity pays.
AxiTrader: The Best MetaTrader 4 Forex Broker
There is a lot to say about AxiTrader, but they are known for being the best MetaTrader 4 forex broker in the world for the following five reasons:
- Enhanced features in MetaTrader 4 platform
- Award-winning customer service
- Low spreads that start from 0.0 pips
- A robust leverage of up to 400:1
- A wide range of forex markets
AxiTrader is an ECN broker, meaning that they do not use s trading desk, giving individuals the chance to trade with global liquidity pools directly. From a system like this, we get faster execution speed and low spreads.
Of the many things AxiTrader has to offer, they have two account options for you:
- The MT4 Standard account
- The MT4 pro account
In comparison with the other Australian Brokers, AxiTrader shows that they have excellent spreads and fees. Their numbers are comparable to what you would find at Pepperstone and IC Markets, among others.
One of their other primary core points comes from MT4 NextGen which comes with features like;
- Forex news
- Sessions map
- A new terminal window
- Sentiment indicator
- Correlation calendar
- Automated trade journal
- Mini manager
- Alarm management
These features will allow anyone using AxiTrader to access so much more while also enjoying the most trusted forex broker in Australia and their award-winning customer support services.
As for leverage, AxiTrader is surpassed only by a handful of companies like Pepperstone, IC markets, ThinkForex, and CMC. Even for a beginner and an intermediate trader, leverage of 1:400 should be enough. This broker is great if you are looking for an MT4 forex broker.
FBS: A Trustworthy Broker with Millions of Active Users
FBS has around 2.3 million active traders worldwide. With the license from CySEC and IFSC, they have gained the trust of millions of traders and partners.
They have gained attention from millions of traders as FBS offers multiple trading instruments. For example, with a single FBS account, you can trade metals, forex, energies, crypto, stocks, and forex exotics.
You can trade 28 forex pairs, gold, silvers, access to 11 top indices, Brent Crude Oil, Natural GAS, and WTI Crude Oil, 9 exotic pairs, stocks, and 100+ crypto assets.
You will get to choose from 6 different accounts to trade all these instruments. The accounts are cent, micro, standard, zero spread, ECN, and Crypto accounts. While all these accounts give you different benefits for different levels of traders, you can upgrade or downgrade your account types.
Some of the benefits you will get from different accounts are a minimum of $1, up to 1:3000 leverage, low commission, 0.01 to 500 lots, and more.
FBS Trading Platforms
To manage all the traders, FBS offer MetaTrader 4 and MetaTrader 5 platform. Apart from these two platforms, FBS also has its own customized mobile app named FBS Trader.
FBS Trader offer apps for iOS and Android devices. With this app, you will get a chance to get everything in one place, including access to the MetaTrader 4 and MetaTrader 5.
Furthermore, you will also get access to 24/7 customer service with the FBS app. In addition to that, you don’t need to head to your bank or credit card apps, as you can deposit directly from the FBS app using your bank or card info. Besides, you will also get numerous transaction methods too. The FBS Trader app will let you access and analysis more than 170 assets.
Using the MetaTrader 4 and MetaTrader 5, you will get full access to the forex and commodities market. Besides, you will get fast order execution speed. In addition to that, MT4 and MT5 give you different technical indicators and charts to analyze the market and make an informed decision.
So, whether you are a beginner or an expert trader, FBS has options for all. And with the easy-to-use trading platforms, anyone can trade with FBS.
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:
- Instruments available
- Trading platforms
- 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.
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