Traders Union analysts conducted a comprehensive research of the companies offering brokerage services in the Forex market.
The research was based on the original TU methodology that uses a unique algorithm to select the best brokers among 400 companies.
The experts analyzed the operation of brokers in various areas, and evaluated their performance using more than 100 criteria. The research resulted in the list of the Best Forex Brokers 2022, which was published on the official website of Traders Union. The top spots of the rating are occupied by the most reliable, efficient and popular brokers with the highest level of customer service.
Top 5 Best Forex Brokers 2022 – a research by Traders Union
The Top 5 Best Forex Brokers for 2022 according to Traders Union experts includes the following companies:
- RoboForex is a reliable broker with European regulation by the CySEC, offering the full range of brokerage services both to beginners and professional traders. You can start with as little as $10, and the broker offers leverage up to 1:200 and different types of trading accounts. In terms of passive income options, there is the CopyFX copy trading service.
- EXNESS is an international brokerage company. The operation of the platform is regulated by the licenses of the CySEC, FCA and FSA. Users can choose a trading account type. The broker offers access to a wide list of investment assets, instant order execution and quick withdrawal to a card, as well as attractive conditions for earning with deposits up to $1,000. The minimum deposit is $1, leverage up to 1:2000.
- Forex4you. The company has been in the market since 2007. Its operation is regulated by the BVI FSC. The broker offers its clients different types of trading accounts, including cent accounts. The trading instruments of the broker include currencies, assets of stock and commodity markets and cryptocurrencies. The minimum deposit is $1. The broker offers leverage up to 1:1000, and floating spreads from 0.1 to 2 pips. There is a passive investing option using Share4you, a copy trading service.
- AMarkets is a large international ECN broker with a development network of offices in Europe and CIS. The broker provides access to trading in the Forex market, cryptocurrencies, assets of stock and commodity markets. The minimum deposit is $100, leverage up to 1:300, and spread from 0.1 pips. The company actively develops algorithmic trading, offering traders its own laboratory for building and testing expert advisors. Trading is available on the MT4 and MT5 platforms, and investment opportunities include copying trades of professional traders.
- Admiral Markets is a top Forex broker with offices in 40 countries. The company’s operation is overseen by the following regulatory authorities: the CySEC, FCA and ASIC. The minimum deposit for investors is $1 under the Invest.MT5 program; the broker provides leverage up to 1:500, and the spread ranges within 0-0.5 pips. The benefits of the broker include a wide choice of trading instruments, abundance of educational materials, low spreads and instant money withdrawal.
How do Traders Union experts audit Forex brokers?
The process of analyzing brokerage organizations by TU is strictly regulated and conducted in compliance with the methodology. It is an official document with provisions that are in line with the international auditing standards.
Criteria groups in the TU methodology:
- Customer group studies the level of customer service and all related features of a broker.
- Service group analyzes the capacity of a broker to influence the operation of other market players and also determines the level of the company’s competitiveness.
- Reputation group monitors the level of transparency of a broker’s operation and customer satisfaction level.
- Financial and economic groups provide basic scores; they involve comprehensive analysis of the financial components of brokerage companies and tracking their development dynamics.
Thanks to the comprehensive approach, the research by Traders Union provides a high level of objectivity and reliability of results.
What is Forex?
Almost every novice trader asks the question of what Forex is and how to make money on it. Forex is an international currency market, where thousands of transactions to buy and sell currencies for other currencies take place every second. The currency prices change constantly, and traders make money on the price difference.
Banks, investment companies and brokers act as intermediaries between traders and the Forex market, providing the former access to the latter. Registration of a brokerage account on a platform provides traders with all necessary tools for currency transactions. These tools include a trading account, trading software, instruments for market analysis, professional technical support and access to additional services, such as analytics, calendar of economic events, financial calculator, etc.
In order to successfully trade and invest in the Forex market, it is very important to wisely choose your broker. Traders Union experts conduct research every year, and publish the rating of the best Forex Brokers to help you make an informed choice.