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Top 10 Best Prime Brokers in 2022 

 January 12, 2022

By  Freddie North

This post is also available in: Indonesia Português العربية

Looking for the best prime brokers with high levels of trust? Many brokers claim to be the best, but on closer examination, you discover gaps in the quality of their services. 

What Is a Prime Brokerage?

In comparison with other brokers, these brands offer superior and more sophisticated services. They have working relationships with reputable regulators in tier-1 jurisdictions and allow clients to access multiple liquidity sources. Reliable custody services will give you peace of mind, as the companies offer advanced protection for all deposits. Such brokers are usually part of large multinational groups which offer services to retail forex traders.

 In the institutional realm, these companies work with large investment clients — for example, prime brokers for small hedge funds. They allow them to borrow cash or securities, use rehypothecation, profit from leveraged trades and related services. The following list includes the most prominent providers regarded as prime brokers for retail clients:

Below are some of the most well-regulated and customer-centric platforms that are great for beginners and seasoned experts too! 

Top Prime Brokers

List of Prime Brokers

1. FBS Broker 

FBS broker

Over 16 million Traders have used FBS Broker for a shot at the financial markets. The company claims to issue over $500 million in profits to customers annually. FBS Broker further states that about half of their traders multiply their deposits up to 8 to 10 times. 

We cannot confirm this claim’s validity. But if it were true, it’s an above-average success rate. Asian customers love the platform, and in fact, it won the Best Broker Asia 2020 —Capital Finance International Awards. 

Trading accountsCent, Micro, Standard, Zero-spread, ECN, 
Lowest deposit$1 Cent, $5 Micro, $100 Standard, $500 Zero-spread, $1000 ECN 
PlatformsMetaTrader apps for iOS, Android, Windows, macOS, & Web 
Social trading Through the FBS CopyTrade app 
Automated trading/Robots Available
Leverage1:3000 Maximum leverage on Standard & Micro Accounts
RegulatorsCYSEC (Cyprus), IFSC
General score10/10 

Top reasons to choose FBS Broker 

  • Lowest trading costs
  • Up to five different retail trading accounts — each with unique features & costs
  • High leverage of 1:3000

Limitations of FBS Broker

  • High minimum deposit restrictions on top-tier accounts

2. eToro 

eToro website

As a reliable market leader, eToro has operated since 2007.  It’s a top-rated platform suited for beginners. Most like it because it offers the best social trading programs.  

Trading accountsStandard & Professional Accounts, No ECN accounts
Lowest deposit$200 first-time, $50 on-going
PlatformsProprietary trading tools
Social trading Copy-trading & Copy Portfolios
Trading Robots/Expert Advisors Not Available
LeverageMaximum leverage 1:30 for major pairs as per ESMA restrictions. 
RegulatorsCySEC (Cyprus), FCA (UK)
General score9/10 

eToro Strengths

  • Advanced social trading features
  • Easy-to-use platform with over 2,000 markets
  • Accepts US clients on limited markets

Limitations of eToro 

  • Higher trading fees than most
  • Does not provide MetaTrader 4 or 5
  • High initial deposit with few account options 

3. XM Broker

XM broker

Started in 2009, XM Broker meets all the checks of the top prime brokers.  About four different organizations oversee the broker’s activities. Traders also enjoy strong protections for their funds, including the use of segregated accounts with reputable companies. 

XM has received many awards for offering outstanding services. In 2020 alone, the platform took home two awards for the best customer service and the Best FX Service Provider, City of Wealth Management Awards. 

Many prime brokers on this list offer CFD trading alone. XM offers real stock investing, but the initial deposit is quite high at $10,000. 

Trading accountsShares, Micro, Standard, XM Ultra-Low Account (Combines Standard & Micro lot sizes)
Minimum deposits$5 Standard, $50 Ultra Low, & $10,000 Shares 
PlatformsMetaTrader 4 & 5, XM web trader
Trading Robots/Expert AdvisorsAllowed
Social trading Through Mirror Trader
LeverageMax of 1:888 
RegulatorsASIC (Australia) CySEC (Cyprus), IFSC, DFSA
General score8.5/10

XM Broker Strengths

  • Supports many base account currency options (including JPY, AUD, ZAR, RUB, PLN, HUF)
  • Permits hedging & suitable for forex scalping
  • Over 100 shares for investment
  • Renowned education articles & trading tools

Limitations of XM Broker

  • About 78.04% of retail investor accounts lose money, a significantly higher proportion.
  • Limited account types. However, traders can customize the lot sizes. 

4. AvaTrade

AvaTrade offers an intuitive platform with a well-laid out website that’s a breeze to use.  With six different regulators, it may feel like it’s more regulated than other forex prime brokers on this list.

AvaTrade Website

AvaTrade Website showing AvaTradeGo

AvaTrade invested heavily in its proprietary technologies and tools. The AvaTradeGo app is user-friendly and fully-featured.

Risk management is on another level. Traders may purchase the AvaRisk Coverage. When it’s in effect, the trader essentially gets their money back on any losses. It’s a tool that’s hard to come by even on other renowned platforms. There are plenty of account extras, including free use of Trading Central, a renowned provider of technical signals since 1999. 

Trading accountsStandard & Professional
Lowest deposit$100 *varies on the base account currency 
PlatformsAvaTrade Go, WebTrader, MetaTrader 4 &5
Trading Robots/Expert AdvisorsAllowed
Social trading Via the AvaSocial app
LeverageMax 1:400 on Forex Pairs
RegulatorsASIC, Financial Services Agency, Financial futures Association of Japan, Central Bank of Ireland, BVI financial services commission, FSCA, ADGM, FRSA
General score8.5/10

AvaTrade Strengths

  • AvaProtect — a revolutionary risk-management tool
  • Multiple trading technologies 
  • Helpful and highly responsive support team 
  • Strongly regulated

Limitations of AvaTrade

  • Lots of restrictions to qualify for the professional trading account
  • High inactivity fee of $100 following 12 consecutive months of no-use
  • Limited account types (no ECN accounts)

5. Forex.com 

Forex.com website

 Since 2001, Forex.com has connected retail traders to global markets. The broker prioritizes fast and quality execution with an actual scorecard that traders can review. 

It’s part of the StoneX Group Inc, a publicly-traded company listed on NASDAQ, meaning that it adheres to stringent financial practices. 

There’s a lot to love about Forex.com, including the advanced proprietary trading tools. Traders will not experience a shortage of essential features found in MetaTrader. 

Trading accountsStandard, Commission, & Direct Market Access 
Lowest deposit$100 
PlatformsMetatrader 4 & 5, Proprietary web, mobile, and desktop platform
Trading Robots/Expert AdvisorsVia MetaTrader — with Free EAs from FX Blue
Social trading Not directly supported 
LeverageUp to 1:50 on FX major pairs
RegulatorsCayman Islands Monetary Authority 
General score8/10

Forex.com Strengths

  • Over 4,000 trading markets featuring thousands of stocks
  • Monthly rebates and benefits for active traders, including pro guidance from personal market strategists
  • High standards of security and stability
  • Timely trade news and comprehensive research 

Limitations of Forex.com

  • The risk-free demo account is restricted to 30 days
  • Lacks negative balance protection — Losses may be greater than the account balance in periods of extreme volatility

6. Markets.com

Prime broker Markets.com

This well-established broker has operated since 2008. Its parent company is part of Playtech, whose shares are included in FTSE 250. The provider offers a whopping 2,200 assets, including CFDs on ETFs, world-class tools and insights for beginners and pros. It is a reliable custodian with excellent support.

Trading accountsRetail, Professional 
Lowest deposit$100 for Retail, $500,000 for Professional
PlatformsMT4, MT5, Martketsx, Marketsi
Social trading — 
Automated trading/Robots Available
Leverage1:30
RegulatorsCYSEC, FCA
General score8/10 

Strengths 

  • Tight margins 
  • Knowledge Centre packed with educational resources
  • Unique tools like XRay (personalised commentary). 

Limitations

  • Low leverage
  • No social trading

7. FXTM

FXTM broker

This global broker serves over 2 million clients. It has an impressive collection of awards, including The Best Trading Experience 2021 from Global Finance. The company offers forex and CFD trading through over 250 assets. All deposits and withdrawals are free. New clients can start with just $10 and use a plethora of educational resources. 

Trading accountsMicro, Advantage, Advantage Plus 
Lowest depositfrom $10 for Micro, $500 for others
PlatformsMT4, MT5, FXTM Trader app
Social trading Through all platforms
Automated trading/Robots Available
Leverage1:2000
RegulatorsCYSEC, FCA, FSCA
General score8/10 

Strengths 

  • low margin requirement
  • unlimited demo
  • low minimum deposit

Limitations

  • fewer instruments

8. IG

IG broker

This company is one of the pioneering prime brokers forex, as its history dates back to 1974. It is also listed on the London Stock Exchange and is considered one of the biggest CFD providers. IG has 17 sales offices globally and over 17,000 assets, including indices, cryptocurrencies, stocks, and commodities. The company gets stellar rankings from professional traders. 

Trading accountsCFD 
Lowest deposit— 
PlatformsMT4, ProRealTime, IG
Social trading Through all platforms
Automated trading/Robots Available
Leverage1:50
RegulatorsFCA, BaFin, CFTC, NFA
General score8/10 

Strengths 

  • no minimum deposit requirement
  • one of the biggest CFD brokers

Limitations

  • low leverage

9. Pepperstone

Pepperstone broker

This Australia-based broker was established in 2010. It has received multiple awards from Deloitte and the Governor of Victoria. Clients trade over 1,000 assets via MetaTrader and cTrader, which supports C# coding. The company offers low cost, fast execution, and deep liquidity. The Standard account lets you generate income without commission.  

Trading accountsRazor and Standard
Lowest deposit$200
PlatformsMT4, MT5, cTrader
Social trading Through all platforms
Automated trading/Robots Available
Leverage1:400
RegulatorsFCA, ASIC, DFSA
General score8/10 

Strengths 

  • no commissions on Standard Account
  • referral bonuses
  • API integration

Limitations

  • mostly CFDs offered

10. Plus500

Plus500 prime

This company was established in 2008. Based in London, it offers a rich array of CFDs for trading through its own platform. The key strengths include excellent support, simple registration, and the absence of commissions. At the same time, the company does not allow copy trading or forex robots, as it considers them unethical. Over 2,500 instruments are available, but only through CFDs. 

Trading accountsDemo and Standard
Lowest deposit$500
PlatformsPlus500
Social trading 
Automated trading/Robots 
Leverage1:300
RegulatorsMAS, FCA, ASIC
General score7/10 

Strengths 

  • wide range of CFDs
  • responsive support

Limitations

  • no spot Forex
  • no copy trading

For more trusted brokers, check out the broker’s tab. Read the full reviews covering all aspects of the platforms in-depth. 

This post is also available in: Indonesia Português العربية

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