BrokerChooser Awards 2022
Presenting the updated annual selection of the best brokers across several categories.
Results are based on a comprehensive review of our methodology as well as updated and new broker reviews.
Best brokers in 2022
Explore all the categories and the winners, check the related Best list to learn about more details, including the runners-up.
Best broker for stock trading
Best discount forex broker
Best broker for beginners
Best broker for investing
Best broker for day trading
Best app for stock trading
- We gave increased weight to relevant fee data, such as conversion and custody fees
- We further optimized the gathering of fee data via automation
- We weighted mobile trading platforms much higher
- We collected more than 20,000 data points for roughly 100 brokers
While the whole team put in their fair share, the annual update effort was designed and overseen by
Broker Analyst Intern
Gyula Lencsés, CFA
Bence András Rózsa
Senior Broker Expert
Senior Content Editor
Co-founder / CPO
Brokerage Trends Highlights
One of the biggest impacts on this year was undoubtedly “meme stocks”, which had
market-moving effects on brokers. On the other hand, toward the end of 2021, the
market started slowing down and trading activity returned to pre-COVID levels. Lastly,
more and more people started investing into cryptos, including meme coins and NFTs.
Retail investors gathered on Reddit and started talking about investing in
highly shorted stocks such as GME and AMC. These so-called “meme stocks” had
a huge impact on brokers: new account openings soared, trading activity
skyrocketed, and some services had to be suspended. These events also showed
the power of retail investors and social media.
Starting from March 2020, retail trading activity was exceptionally high.
However, by Q3 and Q4 2021 new account openings and trading activity had slowed
down. One of the main reasons behind this is likely the opening up of countries,
as people spent more time on activities they couldn’t do during lockdowns.
Crypto trading activity soared in 2021, especially in Q2 2021 when crypto
volatility was extremely high. Beyond Bitcoin and Ethereum, we saw increasing
interest in other coins, including “meme coins” like Dogecoin. Another important
new retail investor trend was the boom of NFTs.
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