28 December 2022
Best trading brokers in 2023
One of the key tools for traders, apart from the platform, is finding the right broker. For a stable income in the foreign exchange market, you need to own any gadget and have the desire to earn, as MetaTrader5 is open 24 hours a day, five days a week.
The popularity of trading platforms is constantly growing and it is important to keep up with trends and innovations in this field. It is a fast-growing environment that does not require a lot of effort to make a profit. MetaTrader5 is ideally suited due to its reliability and easy-to-use features for traders of all experience levels.
If you are a trader and planning to use MetaTrader5, the choice of a broker offering this platform is crucial. To help you narrow down the range of intermediaries, we have compiled a list of the best MT5 brokers.
Top 10 brokers for MetaTrader5:
1. FP Markets
4. XM Global
6. IC Markets
7. HF Markets
9. Admiral Markets
How to choose the right broker
First and foremost, your choice of broker influences your investment style. If you are a trader - the main goal is to make a quick profit based on short-term price volatility. It is very important to make a lot of trades in a least amount of time, as this is your guarantee of a successfully closed deal and good profits. Look out for brokers with very low transaction and account maintenance fees.
Over 15 years on the market and favorable trading conditions have earned the confidence of clients about FP Markets. The broker is regulated by the Australian Securities and Investments Commission at the highest level, which guarantees the reliability of the corporation.
You can get started quickly, as opening an account and making deposits is extremely easy and fast. More than 10,000 trading instruments are available to traders, including equities, indices and futures, while ultra-fast order execution and low spreads ensure a pleasant and profitable experience.
FP Markets offers low commissions for forex, non-trading and no inactivity fees. FP Markets provides training articles, several e-books and educational videos on the official YouTube account for anyone who wants to learn how to trade.
Thanks to its good reputation and stable presence in the market, XTB has earned its place of honor among the top ten brokers. The company provides managers to help with account questions and has a wealth of training videos and written content.
It is a reliable multi-asset broker that offers excellent customer service, access to a wide range of markets such as equities, commodities, cryptocurrencies, indices and more, and low price for its services.
The broker is regulated by the Financial Services Authority, which makes it safe for trading currencies and CFDs. XTB Online Trading will not charge you any deposit or withdrawal fees, which is another great advantage.
As a client of AvaTrade, you can enjoy a variety of assets and free training tools. The broker counts many loyal clients, holds a number of positive reviews and is regulated in 7 jurisdictions, making it one of the most trusted for cooperation.
You can open an account in one day and enjoy free deposit and withdrawal methods afterwards. There are no hidden fees for performing transactions, although the broker will charge you for currency conversions. AvaTrade ensures that your account is protected against a negative balance and, even during market fluctuations, will close the transaction without any chance of losing profits.
The software is designed for immediate trade execution and fast trading, allowing for an optimized workflow on the platform. Traders can check market movements using a graphical representation of the bids and offers of financial assets, which helps to execute orders at the best price.
XM Global is a large and well-known international investment company that operates since 2009 and has managed to become a true leader with clients from 196 countries. XM is suitable for traders of all levels, as it includes training resources and supports more than 30 languages.
Broker is regulated by the International Financial Services Commission and is free of hidden fees or additional charges. More than 99% of all trading decisions on XM are made in less than a second, with no re-quotes or deviations, thus earning its popularity.
If you are a beginner in this field, XM offers to try yourself as a trader and use their platform with a $100,000 virtual balance. This way you can learn the ins and outs of trading and find out about the best trading techniques and strategies before investing real money.
Exness is the top forex broker in the world and is one of the largest by trading volume. Safe trading is guaranteed by top-level financial regulators, and the broker makes its reports publicly available so that clients can view its audits and performance metrics.
One of the advantages of Exness is the instant withdrawal, which you can make in just a few seconds or even on weekends. Traders comment on the high level of technical support, which contributes to their good results.
It only takes a few minutes and the appropriate supporting documents to open an account and start trading. Low spreads attract traders and a wide range of instruments allows you to optimize your return on investment.
If you are looking for ultra-fast order execution, start with IC Markets. The broker is regulated by the Australian Securities and Investments Commission, indicating its reliability.
IC Markets offers users low spreads, deal processing under 40 milliseconds and a minimum deposit of $200. These benefits are ideal for all traders, regardless of their level of experience and expertise.
Round-the-clock customer support and helpful tips for newcomers make IC Markets almost the best in the service market. The company's website has a fast connection, so there are no problems with account access and security either.
HF Markets, formerly known as HotForex, offers the best trading conditions to its clients. The company has over 10 years' experience in the financial, brokerage and other services market, and during this time HFM has received 35 prestigious awards.
HF Markets is regulated by the Financial Conduct Authority and is considered a medium risk broker. HFM provides users with a huge range of trading assets, free VPS for trading and 5 account types.
The HFM website is very informative and easy to navigate. Each training video is carefully designed and presented by experts in the field, allowing beginners to gain the necessary knowledge.
Stepping into the market in 2010, Pepperstone has become a leader in brokerage services, creating a highly competitive trading portal that focuses on forex, equities, indices, cryptocurrencies and more. Pepperstone is supervised by seven regulators and is one of the least risky platforms.
Broker offers over 1,200 trading instruments, including various contracts and currency pairs, and does not charge user inactivity fees. You can use a range of trading strategies, including scalping, hedging, algorithmic trading and news trading.
Pepperstone includes the ability to automatically copy trades, which is an indispensable tool for beginners and provides passive income for everyone.
Among the majority of trading platforms, Admiral Markets is chosen for its excellent education material and wide range of equities, Forex and CFD markets. It is registered and licensed with the Australian Securities and Investments Commission, making it one of the safest and most reliable brokers.
The account opening and verification process is quick and completely digital. There are no hidden fees for deposits and withdrawals, and you can use credit cards, debit cards and e-wallets.
A demo account with virtual money is available for 30 days. The quality of the customer service is top notch, which is the main advantage of Admiral Markets.
FxPro is well known as a reliable broker with a good reputation and strict regulation. Broker operates successfully in 170 countries, holds many satisfied clients and won more than 85 awards.
The company offers over 70 currency pairs, as well as around 180 different equities, providing clients with a wide range of trading options in the various markets they are interested in. The platform allows traders to execute trades easily with clear and transparent pricing.
The multilingual customer service team gained trust among users and is another advantage of FxPro. As with several other brokers, you can open a demo account and check out educational material.
Which broker to choose?
Commissions, reliability and speed of trading are just some of the factors to consider when choosing an online broker. In our brief overview, you could learn about the various advantages of each platform. It is time to choose a broker that best suits your investment objectives and needs.
Our short summary
Forex trading has become increasingly popular in recent years. Many traders around the world are looking for reliable brokers to invest in and thousands of newcomers are learning more and more about this field. Want to get more into forex trading? Open your own demo account and start practicing today. Our team has done its best to give you the freedom of choosing the best brokers for profitable trading.