TOP 5 LARGEST FOREX BROKERS TO TRADE WITH
BRKV - Traders are highly recommended to trade with the largest forex brokers only, but the problem is that many traders have difficulty in recognizing the top reliable forex brokers. If you are still finding the largest forex brokers to trade with, this article will bring you a lot of useful information. Undoubtedly, the traders will be supported by excellent trading conditions and high-quality services by these top forex brokers. Therefore, the traders, who do not want to be scammed, really want to do business with them. However, as mentioned above, finding out the most reliable forex brokers is a challenging task even for experienced traders.
Let’s learn more about the best forex brokers in 2018 today.
My team have traded with many forex brokers for years. Some members even worked for these brokers. Unfortunately, we still cannot gather enough information to rank the top 5 largest forex brokers. However, to create this list, some research have been conducted by our team for several months. In addition, we also contacted with some forex brokers. Our research are highly reliable, so you can totally rely on this list. During research, we have referred to some online lists of top largest brokers in the world. In those list, we find some brokers such as Hotforex, ICmarket, FBS, or FXTM, which are new brokers. By thoroughly checking these brokers, we have discovered that they only target in some countries in South East Asian and African area. Consequently, the lists which rank them the largest forex brokers are totally unreliable.
Here is list of the 5 largest forex brokers in the world:
You should know that this list is based on Forex trading volume only, so those big brokers who have low monthly forex trading volume won’t be listed.
Exness.com: $395 Billions. Click here to learn more.
XM.com: $320 Billions
Forex.com: $300 Billions
Saxo Bank: $300 Billions
FXCM: $220 Billions.
1. Why largest forex brokers is the perfect choices
The forex market is sophisticated and full of risks. Both beginners and experienced traders can be defrauded by professional scammers. Scam brokers can use complicated and dirty tricks to steal trader’s money. Unfortunately, most victims of fraud realized that the broker was scammer only when they lost all money.
Read more : EXNESS CENT ACCOUNT - A STATION TO START YOUR FOREX TRADING JOURNEY AS NOVICE
Why can a scam broker not be exposed at the beginning?
It is common that the problems won’t usually happen at the early stage of trade. The truth is that a scam brokers will offer traders favorable trading conditions to make them relax their guard and invest more money. The more money traders deposit, the more benefits scam brokers can get. Even when you trade with non-scam brokers, you are highly likely to win at the beginning, because you usually follow risk management right from the start. Forex trading market has been increasingly develops which leads to development of many brokers. Consequently, it is hard for traders to avoid scam brokers.
Trading with the largest forex brokers means that you will be safe and sound.
We recognized that the broker was a scammer when they are unable to pay the deposit back. However, it is usually too late to get your money from these brokers. There are many ways to find out whether a broker is scammer or not. One of the most effective solution is to get as much information about that brokers as possible. Nowadays, we are living in a “flat world”, so you can take advantage of the reviews on the Internet to check reliability of the brokers that you intend to trade with. The largest forex brokers have done business with thousands of traders. These traders will usually post and share their business experience with these brokers on the Internet and social media. If there are any scams, you can notice about it immediately. Thanks to the Internet, no scam brokers can develop. Therefore, only reliable brokers can attract more traders and become the largest forex brokers. For example, Exness is one of the biggest forex brokers and is highly prestigious. You can click here to learn more about Exness’s transparency.
2. Which standards should the largest forex brokers have?
You can find the trading volumes published by some broker on the Internet. Obviously, you should only trust trading volumes audited by top 4 audit companies. The traders which have transparent trading volume are very reliable. These traders are perfect choice for you. When you should trade with transparent brokers, your fund will be totally safe. On the other hand, some brokers don’t publish their trading volume. Therefore, I used some trusted resources such as statistic websites, financial news, and newspaper in order to check transparency of these brokers.
While having low forex volume, some big brokers such as: Forex.com and Saxo Bank have very high total trading volume. It is because they provide many products like Crypto, Forex, Future, Commodities, and Stock... Consequently, their Forex volume is much smaller than the total volume.
Example:
Forex.com’s total trading volume is $500 Billions, but Forex volume is $300 Billions.
Saxo Bank’s total trading volume is $600 Billions, but Forex volume is $300 Billions.
Learn more about Exness review now.
3. Traders should do business with the largest forex brokers
You should know that most brokers in the above list are located in America and Europe. This is a good news for traders living in these areas. But if you live in Asia, Africa, and Australia, what brokers can you choose? You have to make sure that the brokers are not only reliable but also satisfy some criterion. Here are some factors you need to carefully check out:
Whether they are regulated in your countries.
Local payment systems
Local support
If you are Asian and African traders, you should trade with Exness
Exness’ s payment system is very suitable with Asian and African traders. That’s because Exness target a lot of countries in these areas. You can deposit and withdraw instantly and free, while other Asian brokers which don’t have local payment system will charge you from 1.7- 4% of your deposit fee. Exness’s offices have been established in most big countries such as: China, Indonesia, Thailand, Singapore, Malaysia, Cyprus, South Africa, India and Dubai. Of course, Exness must been regulated by these country to open offices there. Additionally, Exness will offer Asian and African traders online 24/7 support services. It means that you can get instant responses from their live chat. Or just leave a phone number and they will call you back.
Read more about Exness Cent account, the best choice for beginners.
If you are living in US, you should trade with Forex.com. They are reliable and leading in the US market.
If you are living in Europe, Saxo Bank and Exness are perfect choice.
If you want to know whether US, European brokers are suitable with you or not, you should read this article: Best forex broker.
Here is the list of 5 largest forex brokers for you:
Exness.com: $395 Billions.
XM.com: $320 Billions
Forex.com: $300 Billions
Saxo Bank: $300 Billions
FXCM: $220 Billions.
Hey there, this is Fanara Filippo. I’m the author of this article and I’m currently collaborating with Brokerreview.net, or BRKV in short. My articles are mainly for forex traders from Thailand, Indonesia, India, Bangladesh, and South Africa.
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