Undoubtedly, online trading has become significantly popular in the last decade. At the same time, there is a noticeable rise in the number of forex brokers who offer excellent services. Everyone, including you, is looking for a regulated and reliable broker to start trading successfully.
Trading with an untrustworthy broker can be risky, and you may get scammed. I researched the top three best forex brokers in 2022 to help you find the right broker for you.
Significance of Genuine Brokers
When you trade with a fraudulent broker, entering a battlefield without a spear, shield, and armor is like entering a battlefield. When traders undergo such trading, they leave themselves to be unnecessary and potential risks. So, you must take your time before selecting the best broker for you.
As an expert in the forex, I can say that an accurate forex broker is a must for your trading progress and success.
Gone are days when the multi-trillion-dollar forex industry was confined only to banks and vast financial firms. Now you can trade right on your smartphone in the comforts of your own house. To help you find the most accurate broker for you, I have taken a lot of time and effort to discover the top three brokers.
Qualities that make a Good Forex Broker
The following qualities and services provided by brokers make them stand tall amongst all;
- Reasonable forex fees
- Low withdrawal fees
- Multiple currency pairs
- Advanced charting
Top three Forex Brokers 2022
Here are the three brokers who stand out amongst the rest;
- Saxo Bank
- CMC Markets
- Capital.com
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Saxo Bank
Saxo bank is a Danish bank regulated by many financial firms worldwide. It is a worldwide service provider, and its affiliates are present in the form of discrete entities in the world. However, the services provided by these entities may fluctuate slightly. I am reviewing Saxo Bank UK here.
Pros
- 182 currency pairs
- Low fees while buying or selling pairs
- User friendly
- Best desktop trading Platform
- Great charting tools with 5o technical indicators
Cons
To be honest, I didn’t find any cons related to Saxo bank.
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CMC Markets
CMC markets are worldwide forex brokers regulated by many global firms, and this company is also registered on the London stock exchange. CMC markets hold long records for their reliability measured by top-notch firms.
Pros
- Low fees while buying or selling pairs
- 338 currency pairs
- Good customizability
Cons
- No desktop trading platform
- Poor design
- No two-step login
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Capital.com
Capital.com is a global broker with subsidiaries in England, Cyprus, and Australia. Each of these is approved and regulated by local Financial Conduct Authorities (FCA).
Pros
- Low fees while buying or selling
- 138 currency pairs
- MT4 platform
Cons
- Poor design
- No desktop trading platform
- No two-step login
Conclusion
Saxo Bank stands out as the best forex broker as it has nothing to criticize. Go and complete your hotforex registration to let them help you on your trading journey. Undoubtedly, these brokers I have described are excellent choices in their ways, but you need to be watchful while choosing one for you out, as trading forex can still be risky.