WHICH FACTORS HELP ASIAN TRADERS FIND THE MOST RELIABLE BROKERS?
BRKV - In fact forex trading is very complicated unlike most beginners think. According to some research found that over 90% beginners lost when first started trading. Not only that some experienced brokers also failed many times when choosing a unsuitable brokers especially Asian traders. They contribute 30% forex trading volume to that of the world but trading forex in Asia is illegal in most countries. This disadvantage make traders worry and don’t dare my fund. My purpose write this article is to provide 5 tips to select a most reliable broker. The hope that the article don’t disappoint you. 5 these tips I gathered and consulted advice from many experienced brokers even my best friend. Therefore, the following information is trust.
1. Good rating and no scam reported
When learning about broker’s information, you need to pay attention to their operation time. As usual, I choose brokers which has a duration of ten years. The longer brokers operate the more reliable they will be. 10 years is long enough to prove brokers are sustainable and developed.
Many big annual economic news impact on the forex market. So, how does your broker face this issues? How are their customers not worry about losing money in account? You need to look carefully.
For example, in 2015, when Swiss Central Bank floats its CHF. The CFH/USD was changed over 3000 pips. These events make most brokers lost hundreds millions Dollars even nothing. At that time you have a reliable broker that provide a solid foundation for you.
I always trust Exness because it has never occur scam problem. If having most these cases come from lack of knowledge of customers
Check the details Is Exness a scam broker ?
2. The best payment systems
You should avoid brokers which don’t have good payment systems. Because they cause for you many disadvantages in trading especially getting your money from account
To possess a good payment system needs:
Fast deposit and withdrawal system.
High minimum withdrawal limitations.
Low or zero fee for deposit and withdrawal.
Local payments.
From trading with a lot of famous brokers I draw the conclusion that Exness payment system has no competitor in this field. They provide over 30 different payment methods. And in most of their target countries, they offer many local payment systems which are free-charged.
Exness payment system is fast because they built an auto system that no one can prevent in the processes. If your withdrawal information match your ID you can get your money instantly. Moreover, Exness also has to put a lot of money to these systems: e-wallets, banks, local payment systems ... to keep all transaction run automatically.
Check Exness Payment system here
3. Reputation
The more famous brokers are, the more they catch customers fancy. Regulation is essential because it helps market keep clear of mess in trading and reflects brokers’ standards. In my view, brokers just need one reliable regulation to prove that they follow reliable financial standards and company has good financial health.
Some people thought brokers have U S and UK regulated brokers are better because they trust US financial management system. But personally US, UK, AU, JP, Hong Kong, Singapore, and CySEC are trust regulation.
In fact, US and UK regulations are really good. If a forex broker possesses these regulations can get wonderful conditions such as platforms, technical, financial health, and management. But it doesn’t mean that brokers who don’t have US, UK regulations are unreliable or less reliable. For example . So, Exness is founded to serve Asian market. As you know, Asian is the second biggest forex market in the world. Exness don’t have US, UK regulations because simply it hasn’t business in that region. So what do they have this licenses to do? With the development quickly Exness is the largest retail forex broker now. Their forex trading volume last month is nearly $400 billion, and 99% of this volume is from Asia. If you are Asian and Africa traders, you should cooperate with Exness. Their spreads and commission are much lower than other brokers.
You can check the information here.
(You can read this article to know why: Disadvantages of US regulation).
4. Top forex brokers
To keep away from risks you should choose top forex broker. I have ever selected a small brokers because I don’t have much money to invest. However, I found that the smaller brokers are the higher risks are. I have failed in trading together that broker. Top forex brokers bring many different services. As usual, before investing all my fund to a broker, I will spend about 1 - 2 weeks to test that broker. But the problem is all trading problems seldom happen at the beginning. They happens after some months of trading. That’s why besides testing by yourself, you also need to choose in top largest forex brokers. You can save time by mean of taking advantage of results which hundreds of thousands of traders have tested these brokers for years. However, largest forex brokers may not be the best forex broker for you! Each brokers have differently strong and weak points. Some are good for you but some not. It depends on your trading strategies.
* Here are some suggestions for you
- If your country have problems with the payment system, you should choose brokers who let you deposit/withdraw by local payment systems
- If you are long term traders. You will keep your positions open for some months. You should choose brokers who are reliable and have low swap.
- Please choose high leverage brokers if you are gamblers
- But if you are scalpers, you should choose brokers who are reliable and have low spread/commission, and high quality executions.
* If you want to be safer you do as follow:
Step 1: Create accounts at 3 largest forex brokers,
Step 2: Deposit $100 at each, and
Step 3: Let’s trade for 1 month.
Step 4: Make a better choice
Don’t forget just create accounts in top biggest forex brokers.
If you would like to open Exness account, click open account.
Here are 5 largest forex brokers:
Exness.com: $400 Billions/month
Forex.com: $300 Billions/Month
XM.com $290 Billions/Month.
Saxobank: $265 Billion/Month
Hotforex.com $209 Billions/month.
5. Having offices in your countries
If you select brokers which have offices where you are living you are right. Of course, they lie in the list of the largest forex brokers. As you can see, brokers can only open their office on condition that lots of traders love and certainly they offer you the best services and the most competitive conditions against other brokers.
It's very difficult to open offices in most Asian countries. In order to open an office, they have to register the company and licenses. So, they are controlled by law. So, it's safer to work with legal brokers.
Particularly, if any problems happen, you can get support from their offices instantly. And if they scam you, the law will protect you.
But, it doesn't mean brokers who don't have office in your country aren't reliable. As I mentioned above, the brokers in the top biggest forex brokers with the above regulations are trusted enough. Everything will be better when they have offices in your country. As far as I know Exness have outstanding customer care 24/7 service and multiple languages. Learn more.
Read more : THE SUITABLE BEST FOREX CONTESTS FOR YOU
In conclusion, the following top 5 most reliable forex brokers for Asian traders:
Exness.com >> Check more here
XM.com >> Check more here
Forex.com
Saxobank
IG Group
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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