Trade with the best forex brokers if you want to make it big
It’s not easy to identify the best forex brokers among hundreds of brokers, especially for newbie traders. I have many years of trading with a lot of forex brokers everywhere such as: the best forex brokers in Thailand and the best ECN brokers and so on.
Besides, many reviews were conducted, like Excess reviews to point out the best forex brokers. This article is written to help you recognize the best forex brokers. Some of the following criteria are the bottom lines to determine them.
Regulations are aimed at protecting traders and ensuring fair operations to safeguard clients’ interests. If your country has regulations, you should trade with brokers who have your local regulations. But if your country doesn’t have regulation, brokers won’t protect you no matter how many licenses that brokers have in hand.
In this case, you should choose a broker with a trusted regulation, which is enough. It can be US, UK, AU, JP, Hong Kong, Singapore, and CySEC.
What regulations do these brokers have?
|2||HotForex||CySEC, FSCA, FCA|
|3||XM||CySEC, FCA, ASIC|
|5||FxPro||CySEC, FCA, DFSA, FSB|
- Good support team
Customer service is a prerequisite for any business. For trading forex, it represents people, trust and profit. In a vast and complicated market, all traders are almost always in need of professional and prompt help as well as useful advice on how to make money safely. Luckily, the aforementioned brokers all have excellent customer service including 24/7 and multiple language support. Most of them have their local branches in China, Thailand, Indonesia, Malaysia, and Dubai…
For countries that don’t have regional offices, they offer support online via phone in English or your native language. Here is the list of the best forex brokers who can help you in different languages.
– Exness supports 18 languages 24/7. You can open Exness accounts to experience and trade easily.
– XM supports 23 languages 24/7
– HotForex support 27 languages
– FxPro and FBS supports 19 languages
- Low trading cost
The trading costs seem always the primary concern of any traders. They want to be offered as low as possible because these small costs can add up to quite a lot of money after a long time trading.
Because of the disadvantages of the regulations. US and UK regulations don’t allow them to offer high leverage or bonuses, and they have to pay more for the regulation fee. That’s why they have to charge more spread and commission.
If you are ASIAN traders, Exness is the best brokers for Scalpers.
If you are Africa traders, XM and FxPro are the best.
If you are US traders, Forex.com is the best
If you are European traders, XM, FxPro and Exness are the best.
Every forex trader will mainly focus on the minimum deposit of a broker. Some beginners just want to practice trading in real conditions, so they don’t want to put too much money into practicing. They know that 90% of new traders will lose at the first time of trading. Therefore, they need a broker that requires very little deposit to start trading with real accounts.
On the other hand, the experienced traders need to test the features of a broker like the spread, the execution speed, payment system, fees… before trading with them. For the sake of testing, they also don’t want to deposit much. Here are some brokers with the best minimum deposit.
– FBS and Exness minimum deposit is $1.
– XM, Hotforex minimum deposit is $5.
After all the above-mentioned criteria, I can rank the best forex brokers in order as follows:
– Exness reviews: 9/10.
– HotForex reviews: 8/10.
– XM reviews: 8/10.
– FBS reviews: 7.5/10
– FxPro reviews: 7/10.
You can choose one of the best forex trading brokers to partner up with them according to your trading strategies.