TOP RATED FOREX BROKERS IN 2018

BRKV - Recently, many traders who are asking me for giving them some necessary consultations on who they think are the best forex brokers. After a long period of trading time, they cannot ensure how to choose the best broker, while there are so many forex brokers in the world. From my area of knowledge, it is pretty arduous to know which one is the best, yet I can help traders to stand out some specific sides. As a result, people will be able to approach the best broker without difficulties. With a view to knowing how the best broker is, some aspects that should be taken into account. I will strongly concentrate on the way brokers treat their customers and what they offer. Undoubtedly, the best forex brokers should support their clients good trading conditions, good customer service….Additionally, the reputation and security play no lesser role in gaining the trust of all traders. To make it more specific, I will pick some common forex brokers that are appearing in Asia. They are Exness, FxPro, Hot Forex, XM, and FBS which I can make an apparent comparison in order to help people have a better understanding.

LOW SPREAD

For most brokers, spread seems to be the chief profit because they are not in charge of commission. In another word, the ask price and the buy price are two main factors to determine the spread. All customers, who show their interest towards brokers with low spread, can choose some brokers such as Exness, FBS, or Hot Forex. They have a very low spread which only accounts for roughly 1.1 pip for two prevalent currencies, EUR and USD. Check it here for some brokers with low spread.

LOW COMMISSION

It is true that the majority of brokers do not charge commission, as aforementioned information, yet it is totally for regular accounts. In terms of bigger traders, they have a penchant for higher commission. Indeed, ECN account is the one that attracts the attention of traders a lot by dint of its spread. In this area, I will suggest Exness that only charges 2.5 USD for each lot traded. Exness is considered to be the leading broker of this category.

MINIMUM DEPOSIT

Deposit has always been a big concern of new traders when they are having a trading with future brokers. Nevertheless, traders, who have a lot of experience with different forex brokers, are not worrying about this problem. FXCM or Forex.com, two big brokers, are demanding a lot of money for the minimum deposit, % 2000 and $5000, respectively. Fortunately, smaller traders who will have a chance of choosing brokers that require less money for the minimum deposit such as Exness and FBS (only $1 minimum) or Hot Forex ($5). You should click here for further details.

HIGH LEVERAGE

It has been found that Asian customers will be more profitable than Western ones in terms of this type. On account of being regulated by stringent law, some brokers in the United States, United Kingdom or Japan cannot give lower leverage to their clients. On the other hand, it is easier for traders to have a higher leverage from brokers in Asia because those brokers are not being controlled by law. Here are some examples of brokers with high leverage.

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.

Hot Forex: up to 1:1000.

FBS: up to 1:1000.

XM: up to 1:888.

WITHDRAWAL TIME

When trading with brokers, people often care much about withdrawal time. We can check it here for the best broker in this aspect. Normally, it takes less time if traders choose domestic brokers, but they are not really trusted. It is obvious that trading with oversea brokers can be more reliable and safer. Paradoxically, it will take you a lot of time when transferring or withdrawing. In this case, you had better choose a broker that suits you the most, and trading process can work more quickly. Currently, it is highly recommended that Exness is the one that makes trader feel more pleased because they utilize the machine to perform these task. Most importantly, they do not need to face any rival in terms of this field.

REPUTATION

In order to determine the fame of a broker, we should pay a careful attention to different areas. However, in my opinion, the license, the audit, and search traffic are three aspects that should be taken into consideration.

    License:

In reality, we do not need to worry much about brokers, who have a license from some common agencies like: ASIC (Australia), CySEC (Cyprus), FSA (Japan), CFTC (United States), NFA (also United States), and FCA (United Kingdom). Yet, brokers will be hindered from a license so that they cannot give the best trading condition to their customers due to paying a fee. You can check it here.

      Audit:

If brokers are audited by larger accounting companies such as Deloitte, PWC, EY, and KPMG, they would be more trusted than others. Because, the accuracy and transparency would be proven by those firms. It would be of better use to traders if their brokers show the transparency. Until now, Exness and FxPro are displaying their fiscal records and specific information. If you want to know more about this, you can click here to know how much money Exness has at present. Because, Exness is the one that is showing financial status in a clear way.

    Search traffic:

For the most searched brokers, they are performing everything well. It is simply because they want to draw people’s attention so that people will come searching for them. I will make it clear by showing some brokers that are most searched on the internet now. It is based on the result from Google Keyword Planner.

XM: 40,000 search monthly.

Exness: 36,000 search monthly.

FBS: 30,000 search monthly.

TRADING VOLUME

Understanding the trading volume of brokers can be a necessary thing that traders should take into account before trading with them. It is believed that if a lot of traders who come to a broker, that broker will be more trustworthy. This is the trading volume of some best forex broker monthly.

Exness: $323 billion a month.

Hot Forex: $280 billion a month.

Forex.com: $185 billion a month.

FXCM: $108 billion a month.

CUSTOMER CARE

It is the fact that most traders have been dealing with some challenges when launching into this forex market, especially beginners. Therefore, it is encouraged that all brokers should supply traders with some advice and clear instructions, which facilitate traders in this market. Good customer service is prerequisite for being a good broker. Most brokers should be available for their clients 24/7, which can help them to solve any problem at any time. In fact, language barrier is the most perplexed one which has an adverse effect on traders. I thus reckon that brokers need to support traders with a variety of languages. Some leading brokers, who have these good services, are Exness, FBS, FxPro, and XM.

Apparently, trading conditions and strategies are the most important factors which people should pay a careful attention to them. As a result, making a decision to choosing broker would be easy for you after reading this article. You should read carefully this article in order to have the best choice. Certainly, all big brokers are good, but they all have their own positive and negative points. You therefore need to analyze carefully when trading with a broker. From this, you can choose the best suited one.

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.