Skip to main content

BEST FOREX BROKERS COMPARED IN 2018

How to find the good broker for our business? This is the question that many people often ask me when they are looking for the best forex broker.  Despite having two years of experience in trading with many different forex brokers, it is very difficult to give immediate advice to the trader that I like this broker and you should choose it instead of choosing other brokers. And more than any other way, I think making comparisons between different elements is the only way you can decide which one is the most suitable for your trading strategy and involves. The ratings for the best forex broker will be based on how they look after and what the broker can offer to their trader. It goes without saying that it is the best trading conditions, the best tools and the most caring. Moreover, their reputation and security are things that cannot be ignored. From my point of view, common names like Exness, FxPro, Hot Forex, XM, and FBS in the Asian market should be mentioned in the rating.
LOW SPREAD …

BEST FOREX BROKERS COMPARED IN 2018

How to find the good broker for our business? This is the question that many people often ask me when they are looking for the best forex broker.  Despite having two years of experience in trading with many different forex brokers, it is very difficult to give immediate advice to the trader that I like this broker and you should choose it instead of choosing other brokers. And more than any other way, I think making comparisons between different elements is the only way you can decide which one is the most suitable for your trading strategy and involves.
The ratings for the best forex broker will be based on how they look after and what the broker can offer to their trader. It goes without saying that it is the best trading conditions, the best tools and the most caring. Moreover, their reputation and security are things that cannot be ignored.
From my point of view, common names like Exness, FxPro, Hot Forex, XM, and FBS in the Asian market should be mentioned in the rating.

  1. LOW SPREAD
A low spread is the first point that needs to be concerned with more than anything else. Why? The reason is all brokers are not supposed to charge commission, so spread became their main source of income. A spread is the difference between the ask price and the bid price. As far as I am concerned, low spread brokers such as Exness, FBS, or Hot Forex are always loved by most traders. How can traders refuse when the most popular currency pair such as EUR / USD reaches only 1.1 pips, right? My conviction is that the person who can make the lowest spread is the one with the greatest strength.
Open an Exness account to check their spread and commission fee now!
  1. WHO CAN GIVE THE LOWEST COMMISSION?
Because as I mentioned above, most brokers don’t charge commission but that’s only for normal accounts. For a forex financial expert- ECN account broker, their spread is almost none so that they charge the commission when you trade that is considered obvious. In this category, the best forex broker who only charge 2.5 USD for each lot traded, no one else is Exness.
3.      MINIMUM DEPOSIT
My impression is that the beginning traders absolutely don’t want to deposit too much money when starting. Thus, the famous brokers such as Exness and FBS only demand a little the minimum deposit $1 for small traders or Hot Forex, their minimum order is around $5. Though, the large brokers such as FXCM or Forex.com entirely possible require a lot for the minimum deposit, $2000 and $500 respectively for experienced traders.
4.      HIGH LEVERAGE
For leverage, it seems to me that and Western traders such as in the United States, United Kingdom or Japan must face more disadvantages than Asian ones due to the problems related to regulations that it is strictly prohibited by law. In view of the fact that financial institutions always ask for a low leverage to guarantee their clients. Therefore, they can’t offer with a low leverage. In the meanwhile, in Asia countries, where those regulations are not applied, brokers can provide with really high leverage to their traders. For example:
Exness: For accounts with less than $1000 and having traded more than 5 lots, the leverage is unlimited. For accounts with over $1000, it is up to 1:2000.Open an Exness account to check their leverage now!
Hot Forex: up to 1:1000.
FBS: up to 1:1000.
XM: up to 1:888.

5.      WITHDRAWAL TIME
In my view, traders should pay attention to the withdrawal time of a broke. Because, they have a rivalry in this category. By way of illustration that when you trade with domestic brokers, the time may be shorter but those brokers are not as reliable as oversea brokers. Contrariwise, when trading with international brokers, transfer money is more secured and safer but it takes thoroughly long time for you to withdraw or transfer money, sometimes up to hours. What you need to do is choose and find the fastest broker to follow your trading strategy as well as early recovery. Exness is widely suggested as a good example for all traders who have just joined the trading for the sole reason that they have no competitor in the field
6.      HOW ABOUT THE REPUTATION OF THE BEST FOREX BROKER?
I would say that “reputation” is a scary keyword for all brokers. A lot of things in "reputation" bind a broker. Typically it can be called as the license, the audit, and search traffic.
•         License:
The main thing is that you can trust your broker. We cannot deny the reputation of a broker if they have a license from such famous agencies like: ASIC (Australia), CySEC (Cyprus), FSA (Japan), CFTC (United States), NFA (also United States), and FCA (United Kingdom).
As if what makes the broker competitive is the best trading conditions that they can bring to their clients. A license can hold back brokers when they offer conditions like low spread, high leverage, low commission. Since, the agencies that provide the license require them to pay a fee.
•         Audit:
I belief that audit will make brokers become more reliable in the hearts of their customers. Some of big accounting firms, such as: Deloitte, PWC, EY, and KPMG will be responsible for the audit of our broker. Based on their available reputation, these companies have the ability to confirm the accuracy and transparency of a broker. Talk about the transparency to mention the two prominent names are Exness and FxPro, they are not afraid to disclose all their information as well as financial reports on the website. Exness can even show you how much money they have in the bank and is rated as the highest transparency broker. Exness will go and then get back, it cannot be wrong.
•         Search traffic:
Speaking personally, the most searched brokers have to perform really good that people come searching for them, than a broker does not do it. You can find out some of the best forex brokers that are most searched on the Internet. This is the result from Google Keyword Planner:
XM: 40,000 search monthly.
Exness: 36,000 search monthly.
FBS: 30,000 search monthly.

7.      TRADING VOLUME
Another way for brokers to create trust with their traders is to show them the broker’s trading volume. The main reason is the more traders decide to trade with that broker, the more reliable they are. If there are like millions or thousands of traders like that broker, the trust of a trader will be much higher than the broker who only has a few dozen to a few hundred traders
Here are the trading volume each month of some of the best forex brokers.
Exness: $323 billion a month.
Hot Forex: $280 billion a month.
Forex.com: $185 billion a month.
FXCM: $108 billion a month.

8.      CUSTOMER CARE
My own feeling on the subject is that almost every clients think that the forex market is a very difficult and complicated place, so it is very important for a broker which they have an excellent customer service.  At the beginning of traders need dedicated guidance and thoughtful care as well as practical advice from the broker. A good broker is person who can be available for the customers 24/7 and can help all their customers in different languages. Because of good in English, it is not compulsory in Asian countries. Therefore, it’s better for a broker to be able to help clients in many languages. In this field, popular brokers like Exness, FBS, FxPro, and XM, all of them have amazing customer service (24/7 service, multiple languages)
Beginner traders is always in need of advices and instructions. The best forex brokers should be available for the customers 24/7 and can help them in different languages. Not all traders are English native speakers, especially in Asia, so it’s better for a broker to be able to help customers in different languages. Famous and large brokers like Exness, FBS, FxPro, and XM all have amazing customer service (24/7 service, multiple languages) for their clients.

Choosing the right broker is definitely not an easy thing to do ,over and above that almost all famous brokers are the same, but keep looking back on your trading conditions and tactics when you start your forex trading career plus what you draw from this article. Owing to the fact that each broker has its own key feature that makes it stand out and you are clearly aware that you are missing something. I absolutely believe that that you can figure out for yourself the best forex broker.

Comments

Popular posts from this blog

WHO IS THE BEST FOREX BROKER IN THE WORLD PRESENTLY?

Nowadays, the forex market is becoming more and more popular than ever and everyone is looking for the best forex broker. Everyday there are a large number of traders exchanging from all over the world. As a consequence, there are so many organizations that offer forex services, which are named forex brokers, aroused daily. For beginners, choosing a great broker to start trading might be quite a problem. That’s why today I’ll make a comparison among some well-known brokers and rank them based on 8 different categories so you can decide which one is the top broker in 2018. One thing to bear in mind is that, this article is intended for Asian traders. How can we assess a broker? The answer is the way they treat their traders. A good broker to cooperate with must give their traders high-quality trading conditions as well as customer services. Furthermore, transparency and security is a requirement. Finally, they have to guarantee the long-term profit for the traders. Never get deluded by …

BEST FOREX BROKERS IN 2018

During two years working in the forex market and trading with the best forex brokers from all over the world, I have been frequently asked for advice about brokers. For those who have just started their trading career, they often crave for the assurance that they are choosing the right broker. In my opinion, it is no easy task to search for the “best broker”, therefore all I could do is to apply my experience to the reality and help them find the most suitable broker for themselves. I will also compare some famous brokers from different aspects and rank them based on some basic features. Hopefully after this article, you will manage to choose the most suitable broker for yourself. I believe it is best for you to identify your trading methods and needs so as to find the right broker. Based on my experience, I tend to rate a broker by observing what they offer and how they treat their traders. Good trading conditions, useful tools and heartfelt service are the features that distinguish q…