Awards – Broker Of The Year Awards 2022.
The DayTrading.com Broker Awards for 2022. This year has seen big changes in the trading sector and our Awards acknowledge those brands that have adapted best, and maintained a customer focus. In addition to Best Overall Broker, Best Forex Broker and Best Trading App, we also award a Best US Broker Award in what is a fairly unique market.
From innovation to customer service, we have tried to include every aspect of what makes a broker stand out. In a hugely competitive market, spreads and trading costs are very similar across the industry.
So, post ESMA, we have looked at the overall health of a firm too, and how they are helping customers trade responsibly, and profitably.
With some notable brands taking actions that clearly disregarded the best interests of their customers this year, we have awarded firms who treat customers fairly.
Below we detail the winners and explain the basis on which we made each Award decision. We also mention notable runners up where the call was close. Feel free to send us your feedback and contribute to the winners and losers over the next 12 months.
Best Forex Broker Award.
Winner: IC Markets.
For forex trading over the last 12 months, IC Markets just pipped Pepperstone to the award, ina reversal of the result last year.
Both firms offer great market depth, customer service and regulatory protection for traders across the globe.
This year however IC Markets improved spreads and trade execution quality which made them first choice.
The Raw spreads and market experience meant IC Markets are one of the largest brokers in the world based on volume right now.
Best Binary Broker Award.
Winner: Pocket Option.
Pocket Option started out in 2017 and have grown very quickly based on a focussed digital trading offering and high customer satisfaction.
At a time when many binary options firms are moving into other financial instruments, Pocket Option have created a new innovative trading experience and shaken up the landscape.
With over 10 million registered users, the future growth of the firm looks assured, and reflects the mission of keeping traders satisfied.
Quotex have grown in a similar fashion and are deserving of a particular mention for Runners-ups spot.
Best US Broker Award.
Winner: EagleFX.
Trading in the US has been fraught with issues over the last 12 months. Robinhood were shown to treat their customers with little to no respect during the Gamestop saga, and it is unlikely they are alone in that attitude.
So where can US traders put their faith?
EagleFX continue to flourish and attract positive feedback from traders. Though not US based or regulated, they do cater for US traders.
Market depth and customer service are two core strengths, and the MT4 and MT5 platforms offer the sort of configurability that active traders seek.
Nadex continue to offer a great option for US based traders looking to access digital options from a US regulated brand.
Best Crypto Award.
Winner: eToro.
eToro continue to excel in the competitive category of “Best Cryptocurrency Broker”.
As a brand that offers crypto investment via both CFDs, but also via direct access to a nore traditional wallet, they cater for all trader’s needs. Payment can even be made via crypto to pay for goods and services in fiat currencies.
Market depth is also huge at eToro. This is a sign of their experience in the market.
One of the first firms to offer mainstream access to crypto trading, the brand have stayed ahead of the game ever since.
Whether a trader wants quick access to price changes via leverage and CFDs, or wants to buy and hold coins in a secure wallet, eToro provides all options.
For a pure exchange, Binance came out on top.
Best Trading App Award.
Winner: Pepperstone.
Trading Apps often come down to personal preference for usability and reliability.
Pepperstone have made significant improvements to their mobile offering over the last 12 months and this is reflected in positive feedback from clients.
Catering for regulated markets across the world presents many challenges for a single trading application, but Pepperstone have managed to maintain a high standard of speed and reliability.
With all the functionality a trader could ask for, provided on all mobile formats, this app took top spot from last year’s winners, Avatrade.
Best MT4/MT5 Broker.
Winner: Eightcap.
Eightcap take the award for “Best MT4/MT5 Broker” this year.
Forex markets and Metatrader go hand in hand, so Eightcap needed to outstrip ‘Best Forex Broker 2022’ IC Markets to take the MT5 award.
Speed, accuracy and quality of execution are all paramount for a forex platform, and the EightCap metatrader setup scores highly in all categories.
Liquidity and transparency are key measures that EightCap use to judge their own performance, and it was the liquidity that gives them a slight edge this year.
EagleFX provide high class Metatrader platforms for US traders and continue to grow. They were runners-up alongside the equally superb offering from IC Markets.
Best Overall Broker.
Winner: Avatrade.
The big one! Avatrade were awarded “Best Overall Broker” this year.
Avatrade managed to over come regular winners Plus500 by scoring well in all categories and offering a fantastic all-round service.
Regulated in multiple regions, offering huge range of markets, execution quality and customer service, Avatrade deliver in all areas.
The trading platforms are flexible, the account types deliver for a range of traders and customer satisfaction is very high.
To win the overall award, a broker needs broad appeal and good scores across a range of metrics. This is exactly what we see at Avatrade.