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Best forex brokers in 2022

Interactive Brokers Logo
1st place
Interactive Brokers
TD Ameritrade Logo
2nd place
TD Ameritrade
Forex.com Logo
3rd place
Forex.com
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73% of retail CFD accounts lose money
How to choose an FX broker?
  • Check if the broker is regulated by a trusted regulator,
  • Compare fees (including spreads, withdrawal fee, commission),
  • Check minimum deposit requirements,
  • Open an account and test the platform (charting, features, usability, customer service).
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
Now let's jump straight to the results.


Top 5 forex brokers in 2022


  1. Interactive Brokers is the best forex broker in 2022. - Low trading fees. Wide range of products. Many great research tools.
  2. TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
  3. Forex.com - Low forex fees. Great variety of currency pairs. Diverse technical research tools.
  4. Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
  5. IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.

If you're interested in more forex brokers, read 40+ forex broker reviews.

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Best forex brokers in 2022

Best forex brokers
Forex brokers' key data overview

While many forex trading brokers offer an excellent service, the ones in our toplist go the extra mile. These international forex trading platforms are suitable for beginners and experienced traders alike.

Best forex brokers' key data compiled for October 2022
Broker EURUSD spread Minimum deposit Currency pairs Withdrawal fee Credit/debit card deposit
#1 Interactive Brokers 0.1 $0 105 $0 No
#2 TD Ameritrade 1.3 $0 140 $0 No
#3 Forex.com 1.3 $100 91 $0 Yes
#4 Oanda 0.9 $0 69 $0 Yes
#5 IG 0.6 $0 205 $0 Yes

Best forex brokers
Spreads and forex trading fees

In most cases the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the most important forex spreads for you in the table below.

Spreads at the best forex brokers in October 2022
Interactive Brokers TD Ameritrade Forex.com Oanda IG
EURUSD spread 0.1 1.3 1.3 0.9 0.6
AUDUSD spread 0.1 1.6 1.3 1.4 0.6
GBPUSD spread 0.3 1.5 1.1 1.2 1.5
EURCHF spread 0.4 2.5 2.8 1.5 3.0
EURGBP spread 0.2 2.0 1.6 1.2 1.5

We are collecting spreads regularly, please check out the tooltip for the specific collection date.

Forex commission per lot at the best brokers in October 2022
Interactive Brokers TD Ameritrade Forex.com Oanda IG
FX commission per lot Trade value less than $1 billion: 0.2 bps * trade value; min. $2 No commission is charged No commission is charged No commission is charged No commission is charged

If you are unsure how brokerage fees are charged, check out this article on the various fees, charges and costs.

Best forex brokers
Other fees at forex brokers

Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Interactive Brokers TD Ameritrade Forex.com Oanda IG
Account fee No No No No No
Inactivity fee No No Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0
Deposit fee $0 $0 $0 $0 $0
Didn't find the best broker for you? Answer a few questions and get a personalized broker list!

Best forex brokers
Choose the best forex trading broker

Not sure which broker to choose?
We are here to help.

Use our
unique broker finder tool to see a customized list of the best brokers tailored to your investment needs
or
compare selected forex brokers for all data points with our compare brokers tool.

About our methodology: BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, trading platforms etc. We check more than 500 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. Right now we have more than 100 brokers reviewed on our site and our team of analysts examine more than 50,000 data points overall.

And now, let's see the top forex brokers for 2022 in detail one by one, starting with the winner, Interactive Brokers.

Interactive Brokers Logo

#1 Best forex broker
Interactive Brokers

Recommended for traders looking for broad market access and a professional trading environment

Visit broker

Interactive Brokers snapshot
Minimum deposit $0
Mobile app score 3.5 stars
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Currency pairs 105
Inactivity fee No
Read review For a detailed analysis of Interactive Brokers services, check out our review for 2022
TD Ameritrade Logo

#2 Best forex broker
TD Ameritrade

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

Visit broker

TD Ameritrade snapshot
Minimum deposit $0
Mobile app score 4.8 stars
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Currency pairs 140
Inactivity fee No
Read review For a detailed analysis of TD Ameritrade services, check out our review for 2022
Forex.com Logo

#3 Best forex broker
Forex.com

Recommended for forex traders looking for low fees and great research tools

Visit broker
73% of retail CFD accounts lose money

Forex.com snapshot
Minimum deposit $100
Mobile app score 4.3 stars
Deposit method Bank transfer, Credit/debit cards, Paypal
Withdrawal method Bank transfer, Credit/debit cards, Paypal
Withdrawal fee $0
Currency pairs 91
Inactivity fee Yes
Read review For a detailed analysis of Forex.com services, check out our review for 2022
Oanda Logo

#4 Best forex broker
Oanda

Recommended for forex traders who value a user-friendly platform and great research tools

Visit broker
78.3% of retail CFD accounts lose money

Oanda snapshot
Minimum deposit $0
Mobile app score 5.0 stars
Deposit method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal fee $0
Currency pairs 69
Inactivity fee Yes
Read review For a detailed analysis of Oanda services, check out our review for 2022
IG Logo

#5 Best forex broker
IG

Recommended for traders of any experience level looking for an easy-to-use trading platform

Visit broker
79% of retail CFD accounts lose money

IG snapshot
Minimum deposit $0
Mobile app score 5.0 stars
Deposit method Bank transfer, Credit/debit cards, PayPal
Withdrawal method Bank transfer, Credit/debit cards
Withdrawal fee $0
Currency pairs 205
Inactivity fee Yes
Read review For a detailed analysis of IG services, check out our review for 2022

Best forex brokers
FAQ

Which are the top forex brokers in the world?

The top 5 forex brokers in the world in 2022:

  1. Saxo Bank - low forex fees and great trading platforms.
  2. Fusion Markets - low forex fees and a superb selection of currency pairs.
  3. CMC Markets - low forex CFD fees and an excellent account opening experience.
  4. Interactive Brokers - low forex fees and diverse research tools.
  5. Capital.com - no inactivity fee and rock-solid background.

How to find the best forex brokers?

The key aspects to consider when choosing a forex brokers is safety and access. Makes sure you always select a broker that is licensed or overseen by a top-tier regulator, such as the SEC in the US, the FCA in the UK or BaFin Germany. As a next step, check to see if the broker accepts clients from your country of residence.

Save yourself hours of research and check out our broker finder tool and find the best broker for you.

Best forex brokers
Further reading on forex trading

Author of this article

Krisztián Gátonyi

Author of this article

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Visit Forex.com
73% of retail CFD accounts lose money
Visit Oanda
78.3% of retail CFD accounts lose money
Visit IG
79% of retail CFD accounts lose money

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