- November 23, 2018
- Posted by: Admin
- Category: General
It is not easy for traders to judge about one broker if they do not know about the matters that should be tested. There are a lot of things surrounding forex brokers but trader should focus on the important aspects such as trading cost, trading system, payment system and support policy….
Here are the top forex brokers that I put on the list for your instant review:
– Exness: 9/10.
– HotForex: 8/10.
– XM: 8/10.
– FBS: 7.5/10
– FxPro: 7/10.
Now let’s check for more details to know how these brokers are ranked at top.
First, considering about their trading charges
Spread and commission are two kinds of concerns that traders have. Traders will not have much interest in the high fee brokers like brokers from UK or US market because of the fact that these brokers have to charge more fees for their income with the reason that they pay more for the licenses than other brokers. Therefore, it is obvious that their clients are going to be charged higher spread and commission and even got lower leverage. After many experience and research, the suitable brokers for traders will be depended on where they live, for example, US brokers better trade with Forex.com, UK brokers with XM, FxPro, Exness; Asian traders with Exness; African traders with XM and FxPro.
One more thing about cost that traders should care that is the minimum deposit. To choose the most proper brokers for your trading, you should first decide on what the purpose of trading you have in mind then go to the right account with the appropriate minimum deposit. Usually, fresh traders want the minimum deposit to be small because they are in the training period so they do not like to risk a lot of money. And also, traders who are trying to get used and know about one brokers they are interested in the low minimum deposit accounts like Exness accounts, with only 1$ for opening one account, which is at the same level with FBS. Or other best forex brokers like XM and Hotforex have the low minimum deposit as well, at 5$ only.
Second, check what regulations brokers have
Licenses are the proof for brokers’ reliability and the best way a license can work is that it can protect brokers. Licenses from your traders’ countries will do this duty most perfectly. That means traders better open accounts with brokers having certificates issued by their country. But not all the country have regulations for trading forex, then traders pick one of the most trustful licenses from UK, US, AU, JP, Hong Kong, Singapore, and CySEC to gain trust from traders. At the present days, the top forex brokers owing the reputable licenses are:
|HotForex||CySEC, FSCA, FCA|
|XM||CySEC, FCA, ASIC|
|FxPro||CySEC, FCA, DFSA, FSB|
Third, the supporting method is worth considering
Forex trading is not always clear that traders usually need help from expert or the very brokers to consult about their trading. Best brokers have their office in where they have client and they also support their clients by their language and the service is open 24/7 timeframe. The best forex brokers in Thailand or any other places like Dubai, Indonesia, Malaysia… all have the local service and language helping. If the the service in the local is hard to reach out then these best brokers have online service that clients can be advised by phone or online chatting their very language.
All the best forex brokers’ service is listed as below:
- Exness support 18 languages and works in 24 hours
- XM supports 23 languages and works in 24 hours
- Hotforex supports 27 languages
- FxPro supports 19 languages