Best Forex Brokers in 2022
For all the complaints levied against Forex trading, average investors just like you can make a substantial profit in the foreign exchange market. All you have to do is take the first step. To get more news about forex trading, you can visit wikifx.com official website.
If you’re already dealing with cold feet and researching Forex horror stories on Reddit, you’re not alone. Before you take a leap of faith with any online broker, it’s important to get informed about the potential risks and benefits that come with trading foreign exchange.
So long as you start currency trading with a reputable Forex broker, you won’t have to roleplay as one of Jordan Belfort’s victims. While it’s always possible to lose money when trading, the best Forex brokers offer a degree of protection against losing money rapidly.
Our top 9 Forex brokers are compliant with government regulations that protect investors from fraudulent trading. They also list minimal fees, low account funding limits, automated trading strategies, competitive pricing, and thousands of currency markets to browse through.
Forex Market Variety: 4.9/5
Public.com supports up to 30 different crypto coins, offering you the variety you need for your investment and trading needs. Some of these include, Algorand, Bitcoin, Cardano and Chainlink.
Much like Acorn and Robinhood, Public.com lets retail investors purchase fractional stock shares for as little as $1. Investors will have access to 25+ coins and stock options that span over thousands of financial markets.
As you might have expected from their name, Public.com is focused on community investing. You’ll be able to mirror the market moves of profiteering site members, which can take much of the guesswork out of Forex trading.
Commissions Pricing: 4.8/5
Because they list 100% commission-free stocks and ETFs, you’ll get to keep every penny of the profits you earn. Additionally, Public.com lists a $0 account minimum, so you won’t have to deposit anything if you decide this platform isn’t the right fit.
However, their selection is limited to stocks; ETFs, and cryptocurrencies. If you’re looking to buy, sell, or trade bonds, CFDs, and options, you’ll have to find another brokerage to invest with.
Customer Support: 5/5
You can contact Public customer support by emailing support@public.com, on top of that, chat supopoetr is available rom 9:00am to 5:00pm ET, Monday through Friday to answer any questions you may have.
Forex Market Variety: 4/5
Experienced retail investors can buy, sell, or trade across 17,000+ fee-free mutual funds.
These mutual funds aren’t attached to any commission fees whatsoever, so you’ll get to keep 100% of your profits.
In addition to BTC, Bitcoin Cash, Litecoin, and Ethereum; you’ll have thousands more stocks, options, ETFs, futures, corporate bonds, and fractional shares at your fingertips.
Although Interactive Brokers’ website and mobile apps can take some time to adjust to; we were impressed by their site’s unique investment categorizations.
Experienced retail investors can get a clear picture of where each company lies in accordance with their stance on LGBTQ+ rights, ocean life conservation, and more.
Commissions Pricing: 4.5/5
If you’d like to register an account and explore Interactive Brokers’ platform on your own; you won’t have to deposit any money to do so. Advanced traders can revel in share prices that range from $0.005 to $1, with a maximum price listed at 1% of each transaction’s value.
Their 100% commission-free mutual funds aren’t attached to any sneaky charges; and crypto traders can enjoy a nominal rate of 0.12 - 0.18% in fees per transaction.
