Blog Forex News

Forex News are updated by Thomas Johnson - a trader from USA

21.09.2018.

THE THINGS YOU NEED TO KNOW BEST FOREX BONUSES OF 2018

BRKV - Most traders only care about brokers’ credibility, spread, swap and payment systems making nothing of their rebates or bonuses. In my opinion, rebates and bonus are also relevant to cost. Therefore, this is  important factors which we need to wonder. There are lots of new forex traders asking me about how to choose a broker that offer the best forex bonuses and how to use bonuses ? To answer these questions in details today I write this article. I will cover all of the aspects relating to forex bonuses. The hope that the article brings some useful information in your business path.

In fact, I find that some traders don't like forex bonuses because they know there will be many disadvantages when using bonus. However, the majority of traders are fond of forex bonuses, because they can decrease their trading cost and minimize trading margins. From that demand, some brokers even can hack their bonus programs and withdraw profit. So how to hack these bonuses? In this article, I will also share some tips to carry out hacking them.

THE THINGS YOU NEED TO KNOW BEST FOREX BONUSES OF 2018

1.  Types of forex bonuses

Basically, there are 3 types of forex bonuses: Welcome bonuses, Deposit bonuses, and Lot Back bonuses.

Welcome bonuses (or non-deposit bonuses): These are the bonuses used for new traders. Brokers offer welcome bonuses with the hope of attracting beginners and bonus cheaters. Generally, brokers can offer from 30 – 50 dollars welcome bonus for first time register. For beginners, their main purpose takes part in this bonus to test the broker’s trading conditions and also to try out their trading strategies. For bonus cheaters, they create as many accounts as possible to earn the profit.

Deposit bonuses: you will get money from these bonuses when based on percentages of deposit amount. For example: 20%, 50%, 100% of the total deposit. Brokers offer this types of forex bonuses to encourage traders to deposit more or reactivate their accounts if they’ve stopped trading for a long time. Some brokers offer this bonus to first time deposit as well. If you make a decision long term trading, deposit bonuses is good for you.

Lot back bonuses: many traders join these bonuses with the aim to minimizing transaction cost. When you finish 1 lot/transaction, brokers will rebate an amount of money to your account automatically. The rebate amount will rely on your trading currencies, account types, and trading time. This is the most popular bonus program because professional traders are fond of this. I give you an example: FM’s spread for EAR/USD is 1.4 pip, and they will lot back $3 for each completed trading lot. It means you only pay $11 for each EAR/USD lot instead of $14 of the original spread.

2. Drawbacks of each bonus type

Disadvantages of each bonus type.

Welcome bonuses

Deposit bonuses

Lot back bonuses

- These brokers often are not reliable. Maybe, they are new brokers with the aim to attracting clients by welcome bonuses.

- Actually, $50 is not much money plus the withdrawal conditions, as a result, you don’t earn much profit.

- It is difficult for traders to withdraw bonuses because there are too many conditions offered.

- Lots of problems happen unexpectedly leading to your forex will be lost.

- It are only special bonuses when you invest with much money.

- Time to get some profit is rather long

3. How to cheat forex bonuses

There are the two popular methods to cheat but notices that they only apply for welcome bonuses.

In first way, only carrying out 2 steps you can cheat bonuses.

Step 1: The traders need to create many new accounts to get welcome bonuses.

Step 2: You hedge 2 accounts together. It means 1 account win and 1 account loss. So, they get 50% win chance.

Noted: Don’t forget you only can withdraw bonus profit without any conditions.

In second way, you do as follow:

Step 1: The cheaters also open many new accounts to get welcome bonuses.

Step 2: You use the high leverage to open very big positions.

Step 3: Similar to the first way you also need to hedge them with other accounts to make sure the win rate is 50%.

Personally, the above 2 methods are really simple, you can do whenever you want.

4. How to select a good bonus?

As I mention in some articles before, the first condition to choose a broker is their reliability. Besides, another element of no less important is broker’s bonus.With many experienced years in trading I draw procedure related to pick out a good bonus. Follow me, please!

Firstly, you list down 5 best brokers which are suitable for you. YOU CAN SEE HERE.

  1. Choose best forex brokers that have good bonus program. Of course these brokers are very good. So if they have bonuses, it is much better.

  2. Trade and get bonuses.

Here are top 4 good forex bonuses:

  • Best welcome bonus: 30$ welcome bonus of AM

  • >> CHECK DETAIL HERE.

  • Best welcome bonus: 50$ welcome bonus of FIBS

  • >> CHECK DETAIL HERE.

  • Best deposit bonus: 100% deposit bonus of AM

  • >> CHECK DETAIL HERE.

  • Lot Back Bonuses: Rebate 2 - 16$ per lot of Excess

  • >> CHECK DETAIL HERE.

5. Which conditions can you withdraw forex bonus profit?

There are 2 main withdrawal conditions. The first condition is that you completed a certain number of trading lots. For instance: To withdraw $50 bonus, you have to complete at least 10 lots. When you register or deposit in 1 lot, they will deposit bonuses to your account instantly and let you trade. If you win, you only can withdraw that bonus when you have completed up to 10 lots. The second conditions is that you can still withdraw the profit in spite of the fact that some brokers don't allow to withdraw bonus.

Remember! Everything become easier if brokers let you withdraw bonus profit unconditionally. For me, Exness is the top choice for forex bonuses.

Read more : THE PERFECT FOREX BROKERS FOR BEGINNERS

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.
21.09.2018.

THE PERFECT FOREX BROKERS FOR BEGINNERS

BRKV - I feel very happy when I heard that some traders are looking for the perfect forex brokers for beginners because they don’t find that the best forex brokers are not good enough for them. As many previous articles, it shows that ECN accounts not good for you either. If you are thing of searching for a perfect broker, it means that you are very serious with your trading career. There are many different stages in your trading path, each stage inquires the best brokers for you. When you develop into a higher level, you will be willing to find another broker who are suitable with your trading strategies.

THE PERFECT FOREX BROKERS FOR BEGINNERS

I list down below three best forex brokers for your reference:

XM.com:    9/10

Exness.com:    9/10

FBS.com:    8/10

  1. Beginners’ misunderstandings

When writing about Cent account, I have mentioned about the forex demo account which is very best in beginners’ perspective. But actually it is not right at all, demo account is not good enough for beginners and has negative effects as well. Instead Cent account is the best suitable one for beginners.

If you are a trading beginner, don’t sign in any ECN account because it is just suitable with experts or professional traders and unstable as well. There are many slippages and gaps if you trade with this account. In addition, you should not invest too much money at the beginning point because 95% of beginners lose their money at that time. Beginners can win 50% -100% profit or even up to 10,000% however 99.9999999% of them will lose all later. With many years of working with big brokers and researching their data, most beginners lose their money if they have the profit rate over 10%. Instead they should only keep it at 3 – 5% monthly.

All experts don’t often trade within the news release time, but they will close/ open about 15 minutes before/ after the release time. It is also an experience for beginners.

  1. Wrong knowledge about the perfect brokers for beginners

When I just begin my first trading, I thought that I should trade with best forex brokers which is much helpful for me but I lose much money at that time. So I got a thing that there is no definition of “best”. In the forex xafs, there is only “the most suitable broker”. So if you want to choose you most suitable broker, you should clarify your trading strategies, your experiences or your country’s trading conditions. So you are a beginner, you must spend time learning as much as possible and minimizing your loss.

  1. Standards of the perfect brokers for beginners

  • Low deposit: not like experts who care about brokers’ credit, trading cost and brokers’ quotes, beginners only deposit a small number of deposit so there is no brokers wanting to cheat you. Brokers want to attract more traders so they offer traders the best trading conditions. So I highly recommend you to deposit less than $100 for this stage (3 months) because you just trade a little money so you don’t need to care about the trading cost.

  • Small trading lot requirements: As I mentioned before many beginners have lost much money at the beginning point, so they should deposit as small as possible to avoid any big loss. Many brokers offer Micro accounts which you can open positions as small as 0.00001 Lot USD such as XM while Exness and FBS also have Cent accounts whose minimum lot trade is only 0.0001 USD. Moreover, when you trade with Cent and Micro accounts, you only deposit $10 for practicing and you are able to withdraw the money if you win.

  • Easy: both forex and trading system are very complicated. So what beginners should do is to simplify everything. And  below is my advices:

  • Choose the easiest brokers.

  • Trading by web trade/ web terminal at the beginning. Trade MT4/MT5 later.

  • Deposit by Visa/ Master at the beginning because it is much easier than other payment methods.

  • Good local support: Local support here means that the supporter must use traders’ native language. As you know that beginner would meet some difficulties during process of login, installing MT4, 3D security of Credit Card, etc. It would be easier and faster if brokers have their own local supports using each country’s official language.

  • Trusted brokers: actually trusted brokers is just the most important factor for expert and professional traders only. This factor is ranked fifth for beginners. Because they only deposit ten dollars top so there is no brokers who want to cheat their small money so they don’t need to care about brokers’ prestige. They just need to trade with any brokers as long as they are easy and convenient for those traders. And then when beginners have enough knowledge and qualification, they want to invest more money so at that time, they should change to more reliable broker.

CLICK HERE TO LEARN MORE ABOUT BEST FOREX BROKERS

  • Good training and coaching programs: Some brokers have weekly and monthly training courses and programs, which provides much benefits for beginners. Most of them will ask you to invest a bigger amount of money, but you should not do that. If these brokers are not listed in trusted forex brokers in 2018. In contrast, you should sign in an account to trade and just invest a small of money, learn and then change better broker after the training courses.

  1. Top 3 best forex brokers for beginners

XM.com:     9/10

Exness.com:     8.5/10

FBS.com:     8/10

XM and Exness are in the top biggest forex brokers so they are reliable for beginners. But XM is much better than Exness because they allow traders open smaller positions (0.00001 lot USD) and provide many helpful training courses.

CLICK HERE TO LEARN MORE ABOUT EXNESS REGULATIONS

Instead Exness is the biggest retail forex broker and offers Cent account for beginners. With this account, traders can open positions as small as possible 0.0001 USD. Moreover, Exness also provide the best local support service and payment systems. CLICK HERE TO KNOW ABOUT EXNESS CENT ACCOUNT.

FBS also offer Cent account and provide local support and good payment systems. However they only provide good services in some countries in Southeast Asian countries where they have local offices such as Indonesia, Thailand and Vietnam.

  1. Should beginners join demo contest for practicing?

We think that demo contest is organized for beginners, however winners of these contests are professional traders. Most of them who are Chinese, Thai and Indonesia are using robot to trade in demo contest. Their profitable rate is up to 10,000%. In contrast, beginners won’t have the same win rate as expert so don’t waste of time to trade with demo contest trading strategy. Because its demo strategy is focusing on profit and ignoring risks which is opposite to the normal trading strategy.

  1. Whether beginners should get welcome bonus?

Welcome bonus is good for traders at all but brokers without welcome bonus is still good for traders. Because it is very difficult to withdraw bonus and profit. This bonus is very little but some brokers inquire some conditions to withdraw like you must deposit and complete enough number of Lots which leads to your loss.

  1. Advices for Beginners

If you are a beginner, you should begin to:

  • Trade Micro/ Cent account.

  • Don’t deposit more than $100 for the first month.

  • Learn risk management.

If someone ask you to deposit more tens of thousands of dollars and give you high percentage of profit. I recommend you not to do that because I experienced it many times with many different brokers already. The higher profit, the higher risk. You will win several months or some years but eventually they will lose all.

If someone promise to give you robot for trading. It is not good to receive because robot is just suitable with experts because they set up robot to follow their trading strategy and must be adjusted frequently. So you just manually trade until you have enough qualification to use automatic tools to help you in some parts of your trading.

Read more : ALL THE BEST FOREX WELCOME BONUSES

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.
21.09.2018.

ALL THE BEST FOREX WELCOME BONUSES

BRKV - Any new trader in the xafs would always struggle to search for suitable forex welcome bonus programs offered by the best brokers. Therefore, the aim of this article is to help you find out about all the nook and cranny of forex bonus types in this undoubtedly complicating xafs. Overall, this writing will cover these main topics:

  1. All welcome bonuses

  2. Standards of good forex welcome bonuses

  3. Types of forex bonuses.

  4. Is it possible to withdraw forex bonuses?

  5. Good bonuses vs low spread.

  6. Top 4 forex bonuses.

  7. Forex bonus cheating.

Despite the attractive deals, welcome bonus are not everyone’s cup of tea since they acknowledge that many disadvantages usually come along with bonuses. Nevertheless, a majority of traders still like forex bonus since it enables them to reduce their trading costs and minimize their trading margins. Some can even hack into their bonus programs to withdraw profits. This article will also provide some exclusive hacking techniques for you, so stay tuned until the end.

  1. WELCOME BONUSES

Welcome bonus is one of the most popular bonuses since this bonus type is very beneficial for new traders in general. Here is the list of reliable brokers that offer welcome bonuses:

XM => Get bonus.

FBS => Get bonus.

FXTM => Get bonus.

Note that XM is a more reliable broker. Besides welcome bonus, they also offer deposit bonus at a 100% rate

  1. STANDARDS OF GOOD FOREX WELCOME BONUSES

Easy withdrawal conditions

Theoretically, it is impossible for traders to withdraw their bonuses. They can only withdraw profits that they won from bonus trades. Yet in reality, some brokers allow their clients to withdraw profits with one condition: Traders have to complete the minimum number of lot trades. I will list out a few trading conditions offered by the best forex brokers for you to compare:

  • XM withdrawal condition is relatively easy, since traders only need to complete 0.1 Lot to withdraw all profit.

  • FXTM has a reasonable withdrawal condition, as traders have to complete 1 lot to withdraw profit.

  • FBS has a total of 123 bonus programs. Traders can receive up to 123$ welcome bonus. For each trading lot, a trader can withdraw 3$ profit.

For example: After 7 days trading, you will win 60$. In order to withdraw that 60$, you have to trade at least 20 lot.

FIND OUT MORE ABOUT FXTM HERE.

High welcome bonus value

Welcome bonus is very beneficial since beginners can use this amount of money to test their trading methods and observe the operating system of their brokers. Here is the list of brokers that offer high welcome bonus value:

  • FBS offers the highest welcome bonus Value: 123$.

  • XM and FXTM offer the same welcome bonuses value: 30$

Reliable forex brokers

Take note that besides the amount of bonus, you must also take into account the reliability of the broker offering bonus programs. Among FBS, XM and FXTM, XM is in fact the most reliable forex brokers and they are also the most suitable forex broker for beginners.

LEARN MORE ABOUT XM HERE.

ALL THE BEST FOREX WELCOME BONUSES

  1. TYPES OF FOREX BONUSES

Basically, there are 3 types of forex bonuses: Welcome bonuses, Deposit bonuses, and Lot Back bonuses.

Welcome bonus (or non-deposit bonuses) is offered to new registrations. To attract more registrations from new traders or even competitors’ clients, brokers usually offer from 30 – 50 dollars welcome bonus for first-time registers. This type of bonus can attract a lot of beginners or bonus cheaters. Beginners tend to use this bonus amount to test the broker’s trading conditions and observe the efficiency of their trading strategies. Meanwhile cheaters would create as many accounts as possible to get these free bonus, then trade and withdraw the profit.

Deposit bonus is offered to new deposits. These bonuses are calculated based on percentages of trader’s deposit amount (for example: 20%, 50%, or 100% of the total deposit). Brokers purposely offer these bonuses to encourage traders to deposit more or even reactivate their accounts in case they have stopped trading. Some brokers offer this bonus to first-time deposit as well.

Lot back bonus are a part for the loyalty program. After finishing 1 lot/transaction, an amount of money will be automatically rebated to your account. The rebate amount depends on your trading currencies, account types, and trading time. Professional traders are fond of this bonus type since it enables them to minimize their transaction cost.

For example: XM’s spread for EUR/USD is 1.4 pip, and they will lot back $3 for each completed trading lot. In other words, you only have to pay $11 for each EUR/USD lot instead of $14 as the original spread.

  1. IS IT POSSIBLE TO WITHDRAW FOREX BONUSES?

To answer the question, we must take into account the bonus withdrawal conditions. Basically, there are two main withdrawal conditions:

  • 1st condition: Traders can withdraw bonuses after completing a certain number of trading lots.

For example: After depositing or registering 1 lot for the first time, you will be able to receive an amount of $50 bonus and you can start trading after that. However, you have to complete trading 10 lots in total to withdraw that bonus.

  • 2nd condition: Traders can withdraw the profit instead of bonus.

Certainly, it would be much easier if brokers allow traders to withdraw bonus profit without any conditions demanded. As long as brokers require a certain number of lots to be completed, it is very difficult to withdraw. In fact, you even have to pay more than the bonus value to complete those required lots.

  1. GOOD BONUSES VS LOW SPREAD

Despite acknowledging the benefits of forex bonuses, I would not regard it as the most important condition to choose a broker. Beginners should always keep in mind that the priority condition when it comes to choosing a broker is their credibility.

LEARN MORE ABOUT THE MOST RELIABLE BROKERS HERE.

This is my procedure to choose a good bonus:

  1. List down 5 reliable brokers which are suitable for you.

  2. Choose the broker that have the best bonus program. Since these brokers are already reliable, it is a plus point for them to have attractive bonus programs.

  3. Trade and get bonuses.

FIND OUT MORE ABOUT THE LIST OF BEST BROKERS HERE.

  1. TOP 4 FOREX BONUSES

Base on procedure above, I will list down the 4 best forex bonuses:

  • Best welcome bonus: 30$ welcome bonus of XM >> Check detail here.

  • Best welcome bonus: 50$ welcome bonus of FBS >> Check detail here.

  • Best deposit bonus: 100% deposit bonus of XM >> Check detail here.

  • Lot Back Bonuses: Rebate 2 - 16$ per lot of Exness >> Check detail here.

  1. FOREX BONUS CHEATING

To be frank, you can only cheat welcome bonuses and here are the two most popular methods:

  1. In the first method, traders need to create many new accounts to get welcome bonuses. After that, they need to hedge 2 accounts together, which means 1 win account and 1 loss account. By doing this, they get 50% win chance. This cheating method can only be applied to brokers who allow you to withdraw bonus profit without conditions.

  2. In this method, cheaters also need to open many new accounts to get welcome bonuses. After that, they can use the high leverage to open very big positions and hedge them with other accounts to make sure the win rate is 50%. High leverage brokers would be suitable for this type of cheating.

LEARN MORE ABOUT LEVERAGE RATE HERE.

Read more : CRITERIA FOR CHOOSING THE MOST RELIABLE BROKERS FOR ASIANS

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.
10.09.2018.

CRITERIA FOR CHOOSING THE MOST RELIABLE BROKERS FOR ASIANS

BRKV - As we all know, the forex trading xafs is a complicated field with many different laws involving the trader’s financial safety. However, most of those laws are only valid and applied to western traders while the Asian traders are left unprotected and opened for potential exploits from shady brokers. This is why today I’m writing this article to offer my fellow Asian traders my experiences over my years of trading as an Asian, as well as to provide the names of a few most reliable brokers that I find trustworthy and reliable.

To start this article off, I’ll be reviewing some of the brokers that I’ve traded with based on my own standards as follow:

  1. Company history – Scam reports

  2. Top largest forex brokers

  3. Regulations/regulators

  4. Payment system

  5. Local offices

The following brokers will be included in the article:

  1. Exness.com >> Check more here

  2. XM.com >> Check more here

  3. Forex.com

  4. Saxobank

  5. IG Group

Company histories – Scam reports

Obviously, you wouldn’t want to do business with a company that’s known for scamming their customers. That’s why I kind of value the company history a little bit more than the others. The company history includes scam reports, how long has the company been in the business, … As for myself, I always trade with brokers that have over 10 years in the xafs and no official scam reports.

CRITERIA FOR CHOOSING THE MOST RELIABLE BROKERS FOR ASIANS

A reliable broker should also be in the top largest broker

I’ve done my fair share of brokers testing and I must admit that, best forex brokers aren’t famous solely due to good xafsing, some of them are actually pretty good and offer excellent services and trading conditions. The majority of people choose top brokers because they’re more trustworthy and most of all, offer better trading conditions and security than other brokers.

My personal advice for you would be that you should always test a broker by yourself, preferably the large and popular ones, and see for yourself if it’s suitable for you. I personally spend at least one to two weeks to test a broker. Most smaller brokers always prove to have bad services and many problems unresolved. The larger and more popular brokers, on the other hand, rarely have any problem in the beginning, and only a few problems in the later months that could be easily resolved by contacting their customer service.

Nonetheless, large forex brokers might not always be the best for you. For the best trading efficiency, you should also take your trading styles into account when it comes to choosing your broker.

For instances:

If you are a long term trader, obviously you’d want to have your order positions opened for months at time. For this trading tactic, a broker that is reliable and has low swap would be the way to go.

If you style is more of a scalper, however, you’d want to have a broker that’s reliable and offer relatively good trading conditions such as low spreads, low commissions and high execution quality.

For people who like to gamble, brokers that offer high leverages are always more preferred.

And if your country, by any chance, has limited payment supports, you’d want a broker that offers local payment support.   

Whichever broker that you want to choose, you should always take extra cautions to test them first to see if they’re truly reliable. My best advice to you is that you’d want to create different accounts at any 3 brokers that you want to trade with, deposit $100 into each one of them and see for yourself which one profits you the most.

Here are the current 5 largest forex brokers:

  1. Exness.com: $400 Billions/month Check more here

  2. Forex.com: $300 Billions/Month

  3. XM.com $290 Billions/Month. Check more here

  4. Saxobank: $265 Billion/Month

  5. Hotforex.com $209 Billions/month.

Regulations/Regulators

For us Asian traders, regulated brokers might not that different that than the other one since there doesn’t seem to be any known and trusted regulator agency that would protect our Asian trader’s rights. However, it would always be wiser to choose a broker that has one or two trusted regulation. After all, the processes of getting a trading license is often long and costly that’s why most shady brokers won’t bother to apply for one. Most Asian traders are under the misconception that US brokers are the best because they of their service and trading conditions. While that might be true to some cases, but the US brokers also charge their fees a lot higher than the other brokers to the point it might just not be worth it to be doing business with them, especially for Asian traders who benefit very little from most US brokers.

Asia has always been the hidden gem for the forex trading xafs but only very few brokers have taken the initiative to start their business in Asia. Exness, the current largest retail forex broker in 2018, started out as a broker who served almost exclusively traders in Asia and still is. Their forex trading volume last month is nearly $400 billion dollars, 99% of which came from Asian traders. Up till now, Exness still doesn’t have a US forex trading license or regulated by any US regulator simply because they don’t need to. (Click here for our Exness review)

For Asian or African traders, my advice to you would be to avoid US and UK brokers since their trading fees such as spreads and commissions are much higher than any other broker from another continent. (To furthermore learn about this, we have our own article about Disadvantages of US regulation).

Payment system

A convenient and quick payment system is always preferred in any business, and forex trading is no different or might even be more important than most.

A good payment system must have:

-  Quick depositing/withdrawing processing time.

-  No withdrawal limit

-  Small depositing/withdrawing fees.

-  Supports for local payments.

Throughout my years of forex trading, I find Exness to be the leading company in term of payment system efficiency. Thanks to the computer doing most of the works, the processing time for each transaction is reduced to the matter of milliseconds. Exness also offer many more free-of-charge services and supports for local payment.

Check out Exness Payment system here

Local offices

Needless to say, a local office located in our area or our country to represent the broker as well as help us with our needs and problems is always appreciated. Some big brokers such as Exness has their branches almost all over the world, but some other big brokers might not. Especially for Asian traders, most of them probably won’t have a supporting local office near their area or in their country because there’s simply too many countries and traders to cover. However, Asian traders should be rest assured because all the brokers that I’ve mentioned above have their own respectable amounts of branches opened in many Asian countries such as Malaysia, Hongkong, Thailand, Philippines, Vietnam, …To quote it again, the best brokers for Asian traders in my professional are:

  1. Exness.com

  2. XM.com

  3. Forex.com

  4. Saxo bank

  5. IG Group

Read more : SPENDING 5 MINUTES ON TOP 5 LOWEST SPREAD FOREX BROKERS

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.
10.09.2018.

SPENDING 5 MINUTES ON TOP 5 LOWEST SPREAD FOREX BROKERS

BRKV - Forex trading is one of complicated job. It requires traders to have essential skills in choosing a suitable broker. One factor to pick out a good broker which I want to mention today is lowest spread forex brokers. I know that many traders  are wondering if they should brokers which support their business. Recently, there are many of my subscribers sending me emails asking: “Who are lowest spread brokers?”

In this article, I also answer the question. I hope that this article provide you with useful information and this is a solid basis in a fair way of business.

Here are top 5 lowest spread brokers:

  1. Exness.com
  2. Hotforex.com
  3. FBS.com
  4. XM.com
  5. FxPro.com

SPENDING 5 MINUTES ON TOP 5 LOWEST SPREAD FOREX BROKERS

1.  Some problems relate to spread

The difference between the Bid and the Ask prices is called spread. It represents brokerage service cost and replaces transactions fee. The higher the spread, the higher the transaction cost. Therefore, most traders want to trade with low spread brokers.

It should be noted that no all traders tend to like work together with low spread brokers because it depends on their campaigns.

a. What are the differences between Spread and Commission of 3 types of brokers

As you can see, xxx Maker, STP, and ECN are 3 types of traders favored all over the world. However, today I only correspondents with you about xxx Maker and STP because  main income of these 2 types is spread. On the contrary ECN brokers with main income is commission. If we discuss all traders, it is very long. You can check ECN brokers here to learn more.  When they get quotes from liquidity providers, they will add the transaction fee (spread) to those quotes (a process called Mash Up).

b.  What type of traders need low spread brokers?

If you are long term investor, don’t care about spread.

If you are scalpers, spread and commission are important.

Do you know why I said so?

- For scalpers, they open many positions in a short time ( less than 1 month) , so their main transaction cost are spread and commission. Moreover, they also earn just some pips per order, so they prefer to choose low spread and low commission brokers.

- For long term investors, because they keep their positions longer (over 1 month) , they earn some hundreds of pips per position. Their main transaction cost is swap so they make nothing of spread and commission. In fact, they only lose a maximum of 2% of their profit for spread. Sometimes, they have to pay up to 90% of their profit for swap. This is the reason why they prefer low swap brokers.

Remember! You have to work with trusted and regulated brokers.

c. Why US and UK brokers’ spreads are higher?

As I mentioned in some article before, regulations limit brokers some problems related to offering bonuses, program and spreads. They have to pay more for the regulation fee. That’s why they have to charge more spread and commission

US and UK are the 2 biggest forex xafss in the world, but their brokers are less competitive in term of transaction cost.

You observe the following table to see clearly about the spreads for EUR/USD of best forex brokers:

Broker Name

EUR/USD spread

Regulation

Exness

0.7 Pip (Classic account)

CySEC, FCA

Hotforex

1.1 Pip (Premium account)

Vincent

FBS

1.1 Pip (Standard account)

Belize

XM

1.7 Pips (Zero account)

FCA (UK)

FXTM

1.7 Pips (Standard account)

Belize

Forex.com

1.8 Pips

NFA (US)

FxPro

1.7 Pips

FCA (UK)

From that the CySEC broker and Exness have the lowest spread. UK and US brokers have the highest spreads. Their spreads double that of Exness. Click to check spreads of Exness.

In addition, I did a research of hundreds of top forex brokers in the world, and I found that US and UK brokers usually offer higher spreads and commission than Australia and CySEC brokers. CySEC brokers offer the lowest spreads.

2. How to choose the best low spread broker?

Here are 4 conditions to choose the best low spread brokers:

  • Reliable brokers: That broker has licenses in your country. Of course, if they own a license from such famous agencies like: ASIC (Australia), CySEC (Cyprus), FSA (Japan), CFTC (United States), NFA (also United States), and FCA (United Kingdom), it is much better.

  • Local payment system. You should select brokers which invest local payment system like Exness which I am cooperating. You can see detail about Exness by clicking here. If low spread brokers only can deposit and withdrawal by Visa, Credit card, Neteller, and Skrill... you have to pay 2 - 4% of your total deposit amount as the fee for those international payment methods. This is a disadvantage you need to consider. This fee is so expensive for you.

  • Low spread and commission. You can read again the above section. Low spread and commission help you go up profit.

  • Good local supporters. This is one of important factors both beginners and experienced brokers. If you have any trouble in trading, please contact this department. They will deal with your problems instantly.

Sum up:

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.

Read more : WHAT MAKES EXNESS CENT ACCOUNT BECOME THE BEST ACCOUNT FOR FOREX TRADING BEGINNERS?

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.
10.09.2018.

WHAT MAKES EXNESS CENT ACCOUNT BECOME THE BEST ACCOUNT FOR FOREX TRADING BEGINNERS?

BRKV - Honestly, when it comes to forex trading, it is demonstrated by some research that nearly 100% beginners failed when they trade for the first time because it is very complex for them. Therefore, some people strongly recommend that beginners should start with best forex broker demo account. They are also suggested practicing with this demo account several months before investing by their real money. In my opinion, I think that this is not a bad advice, but this is definitely not the best one. Because it is shown that the more you succeed with demo account, the more you lose with real accounts. Brokers are the people who want you win with demo account so they usually offer better trading conditions for demo account, such as: lower spread, lower volatility, better execution and pricesMost forex trading beginners will become over confident when they win a lot of money from demo account. Therefore, they will think that they can handle with real account but they dont know that real account is very different from demo account. So, they have to restart practicing with real account after several months of working with demo account. Actually, it takes time and money to learn to trade one more time. For some beginners, it even takes more time to study real trading account because of this first wrong way.

So, I really think that you should begin with the right trading way, which is using real trading account from the beginning. Besides, from my point of view, beginners has better choose Cent account for many reasons such as:

Cent account is a real account. Sotrading Cent account means you are trading in real trading conditions: real spread, real prices, real volatility, slippageSo, if you win with Cent account, you can win with other real account types.

Trading Cent account will help you become disciplined. Because if you dont obey the rules of risk management, you will lose all of your fund instantly.

Cent account is the best account for beginners because you are trading Cent Dollars. You can deposit 10$ and get 1000 USC in your account. For this 1000 USC, you can open loads of orders to practice trading. This is a real account so you can withdraw all your money and profit whenever you want. You may lose all your 10$ deposit. But its just 10$, which is too little for you to practice trading in real trading conditions. Moreover, because you are trading with your real money, you should study harder in order to improve your trading ability faster.

WHAT MAKES EXNESS CENT ACCOUNT BECOME THE BEST ACCOUNT FOR FOREX TRADING BEGINNERS?

Why Exness Cent account is the best for forex trading beginners?

Although big forex brokers usually dont offer Cent accounts it doesn't mean that I recommend you to trade with small brokers who offer Cent account. As I have said, brokers who are well-known offer better trading conditions and they are obviously more reliable. However, Exness is different. It is one of the biggest retail forex brokers in the world offering Cent account. If you want to know their trading volume, click here.

Please take notice of the fact that their report was audited by Deloitte, which is known as one of the most famous and independent audit companies. So, you can wholeheartedly trust these reports. Click here to see more

Because beginners arent the people who they want to target at, they restrict the number of orders, however, its still enough for you to practice within 1 to 2 months with the best broker and best trading conditions. I will let you know why Exness Cent account is the best for you:

– Firstly, Exness is the biggest retail forex broker. So, they are very famous and they have the best reputation, you can completely put your faith in this broker. Click here to see more.

Next, Exness Cent account dont require for minimum deposit. You can completely deposit as low as $1 or whatever you want. This is really important because most of the beginners dont want to deposit too much money in the beginning. Click here to see more

Thirdly, you can open positions at as low as 0.01 Cent or 0.0001$. You should know that this is the lowest minimum position value in the xafs. The lower the orders value is, the better, because you are just a beginner and 90% chance that you will lose. The purpose of this step is only practicing. So, it can be understood that the lower the orders value is, the more orders you can practice with. Because of this low minimum order value, you can practice from 1 – 3 months with just $10.

Fourthly, Exness Cent account offers the highest leverage. There is no doubt that the higher the leverage, the lower the margin. So, you will have more free margins to keep your orders open.

Fifthly, you can deposit and withdraw from Cent account by local payment methods or by banks immediately. Its very easy and convenient. Because you are just beginners, so the easier, the better.

Finally, Exness will help you with various languages, which is very important for beginners because forex trading is very hard and complicated. I know that you will have a lot of questions and it is lucky that only local language speaking supporters of Exness can help you to deal with this problem. Moreover, Exness provides many countries in their local languages such as: China, Thailand, Vietnam, Malaysia, Saudi Arabia, Iran, and English-speaking countriesSo, its very convenient for you if you speak these languages.

How to open Exness Cent account?

You can open Exness Cent account by clicking here.

Opening Exness Cent account is very easy for everybody, all you need is to have an email and a phone number and you just need to spend less than one minute to complete registration. So, dont hesitate to give it a try.

Read more : WHO WILL BE WINNER IN THE BEST FOREX BROKERS RANKING 2018?

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.
10.09.2018.

WHO WILL BE WINNER IN THE BEST FOREX BROKERS RANKING 2018?

BRKV - With 2 years experiences in trading together with a series of different forex brokers as well as understanding clearly about the best forex brokers, many people found and asked me for advices on the brokers. They want to make sure that they can cooperate with the best broker. Normally, I am easy to list the countless top brokers ranking but it is very difficult for me to share which one is the best. However, with the hope that you make a decision which one is the most suitable for your trading and demands I make an effort give you useful information. I provide my knowledge by mean of comparison them in different aspects.

My ranking is based on what a broker offer and how they look after traders. In my opinion, the best brokers have to give traders good trading conditions, best tools, and great care. The factors about their reputation and security should be put into consideration carefully.

I am really interested in some popular forex brokers to the Asian xafs. The following are some outstanding ranked in top brokers to make the comparison such as Exness, FxPro, Hot Forex, XM, and FBS...

1. LOW SPREAD DECIDES TO PICK OUT TOP FOREX BROKER

Spread is one of the most important factors affecting the process of traders. Most brokers are not supposed to charge commission, so spread is their main income. Spread is the difference between the ask price and the buy price. Traders of course love brokers with low spread such as Exness, FBS, or Hot Forex, whose spread is only around 1.1 pips for the most popular currency pair, the EURUSD. As far as I concern, Exness doesn’t charge transaction costs for Mini, Classic and Cent and especially applying extremely low costs to traders. Exness brings you record low cost. Please believe me by mean of clicking how much are exness spreads to check.

WHO WILL BE WINNER IN THE BEST FOREX BROKERS RANKING 2018?

2. LOW COMMISSION PLAYS VITAL ROLE OF BECOMING TOP FOREX BROKER

As I mentioned before, most brokers don’t charge commission, but that’s only for regular accounts. For ECN account, an account that professional and big traders prefer, the spread is almost none, so brokers have to charge commission when you trade. The best broker in this category is Exness, who only charge 2.5 USD for each lot traded.

3. LOOK AT MINIMUM DEPOSIT TO DETERMINE TOP FOREX BROKER

In fact, new traders of course don’t want to deposit too much money when starting. For beginners, they are always scared of losing all their money. However, I think this is not a problem for experienced traders, so big brokers such as FXCM or Forex.com require a lot for the minimum deposit, $2000 and $500 respectively. Other brokers for small traders only demand a little for the minimum deposit. Look at these figures:

  • Exness and FBS (only $1 minimum)

  • Hot Forex ($5).

4.  HOW HIGH LEVERAGE AFFECTS THE TOP FOREX BROKER

I will provide some data about leverage. According to the current estimates, Asian traders really benefit a lot more than Western ones in this category. Since brokers in the United States, United Kingdom or Japan is strictly regulated by the law there, they can’t offer low leverage. Meanwhile, in Asia, where those regulations are not applied, brokers can provide traders with really high leverage. For example:

  • 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.

I have some trust information about Exness; you can click leverage to check.

5. WITHDRAWAL TIME HELPS BROKERS TO RANK TOP FOREX BROKERS

As you know “Time is gold” so traders always pay attention to the withdrawal time of a broker. When you trade with brokers from your country, the time may be shorter but those brokers are not as reliable as international brokers. When trading with foreign brokers, it brings you a feeling of security and safe but clearly it takes really long time for you to withdraw or transfer money, sometimes up to hours and hours. To deal with this situation personally you need to find a trader that is the fastest in order that you can follow your trading strategy. I recommend Exness since they leave all this work for the machine, so the time to perform these tasks is only millisecond. When it comes to withdrawal or transfer time, Exness has no competitor in this field. It was my choice. What about you? Please believe me! Visit Excess’s website here.

6.  DO YOU THINK REPUTATION IS IMPORTANT FOR THE TOP FOREX BROKER?

Gaining a foothold in the xafs a broker’s reputation needs get many things. For me, I will decide that by three necessary things: the license, the audit, and search traffic.

·         License:

To choosing a good employee you have to base on his/her license. As well when you select a best forex broker, you will them with a license from such famous agencies like: ASIC (Australia), CySEC (Cyprus), FSA (Japan), CFTC (United States), NFA (also United States), and FCA (United Kingdom). However, a license will prevent brokers from offering traders best trading conditions (low spread, high leverage, low commission) because they have to pay a fee to those agencies.

·         Audit:

Brokers that are audited by big accounting firms, such as Deloitte, PWC, EY, and KPMG, are really reliable. Those companies can confirm that accuracy and transparency of a broker. Speaking of transparency, you should go to a broker that highly values transparency. Currently, in term of all financial reports and data I find Exness and FxPro most reliable. Exness even show how much money they have in the bank. Everything related to audit of Exness is very obvious.

·         Search traffic:

I think that most searched brokers are better because they have to perform really good that people come searching for them. Like sell products, good products lead to purchasing power gone up. Here are some brokers that are favored on the Internet according to Google Keyword Planner.

  • XM: 40,000 search monthly.

  • Exness: 36,000 search monthly.

  • FBS: 30,000 search monthly.

7. PAY ATTENTION TO TRADING VOLUME OF A BROKER

Take notice of the trading volume of a broker. Why so? Because the more traders decide to trade with that broker, the more reliable they are. If there are like millions or thousands of traders like that broker, it must be safe and trustworthy at some level. The following is the trading volume each month of some big forex brokers.

  • Exness: $323 billion a month.

  • Hot Forex: $280 billion a month.

  • Forex.com: $185 billion a month.

  • FXCM: $108 billion a month.

Exness has been leading about the trading volume. Why do not you pick out Exness? For me, Exness is the first choice.

8. CUSTOMER CARE IS AN IMPORTANT STANDARD FOR TOP FOREX BROKER

Most people find the forex xafs very hard and complicated, so it is very important for a broker to have a good customer service. Personally, a good customer service helps me comfortable for trading forex career. Some beginner traders are always in need of advices and instructions. A good broker should be available for the customers 24/7 and can help them in different languages. Particularly, forex brokers have a source of the best staff to service. Not all traders are English native speakers, especially in Asia, so it’s better for a broker to be able to support customers in different languages. Famous and big brokers like Exness, FBS, FxPro, and XM all have amazing customer service (24/7 service, multiple languages) for their clients.

By clicking this link customer care of Exness you can see more details.

In short, with the aim to helping you find top forex broker through 8 above factors I hope that after reading this article, you can make up your mind a broker that suits your trading conditions and tactics. Almost all big brokers are the same, but each has its own key feature that makes it stand out. The ball is in your court. I always trust in Exness. How about you? Follow me you will success.

Read more : WHY ARE TRADERS INTERESTED IN TOP 5 BEST ECN FOREX BROKERS?

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.
10.09.2018.

WHY ARE TRADERS INTERESTED IN TOP 5 BEST ECN FOREX BROKERS?

BRKV - Is it difficult for choosing best brokers? It seems to be hard for traders to answer this question. Up till now, after answering the plenty of questions from traders about how best brokers are, I reckon that we can decide on best brokers by knowing more about their trading strategies and customer services. At present, US and UK brokers are more trusted than other ones, yet Cyprus brokers now are providing traders many good trading conditions such as: lower spread, lower margin, better trading platforms and payment systems…It would be easier for traders to opt for best brokers if they concentrate on some standards. In order to have a better understanding about these standards, I will make a list of five best ECN forex brokers which help all traders will be able to choose their future brokers.

We can look at this table. I will make a comparison of these five brokers, which helps us to have a good decision before trading with them.

WHY ARE TRADERS INTERESTED IN TOP 5 BEST ECN FOREX BROKERS?

No

Broker names

Rating

1

Exness.com

8/10

2

FxPro.com

7.5/10

3

XM.com

7.5/10

4

ICxafss.com

7/10

5

FXTM.com

6.5/10

From the table above, we can easily see that Exness broker now are having the highest rate.

  1. What we should know about standards of best ECN brokers

  • Reliable ECN brokers

  • Lower trading cost:

  • Lower spread

  • Lower commission

  • Better payment systems to lower deposit and withdrawal fee.

  • Better rebate.

  • Better bonus

  • Better Trading conditions: Better quotes, developing more trading platforms, lower slippages, better execution speed, lower swap or fee swap.

  • Better local supports.

These are some standards that we should take into account before trading with brokers. Because, it will represent on what best brokers must have. Normally, if brokers have these standards, they will be best brokers. Best brokers mean they can provide their traders best services. Having these standards can certainly lead to best brokers.

Click here.

  1. Best brokers must be reliable

All traders dream of choosing best brokers, but they sometimes are victimized by some untrusted brokers. Therefore, before trading with any broker, we need to check their regulations, which are regarded to be most important factors. A trusted broker means they have good regulation, and they are supplying their customers a lot of good services. Clearly, possessing a good regulation can be a dilemma for the vast majority of brokers.

  1. What are regulations?

Regulations are profit/non-profit organizations that regulate brokers. Each regulation contain their own regulations that all regulated brokers must conform to.

  •    Maximum Leverage

  •    Quotes quality

  •    Broker’s minimum operation fund.

  •    Bonus

  •    Segregated accounts to protect clients.

  •    Advertising messages to avoid misleading for traders...

It is obvious that brokers must complete these criteria in order to achieve a regulation. It can certainly be arduous for brokers to have a regulation, thus trader should come to brokers that they all have at least one broker. If broker possess a trusted regulation, they would be more impeccable for traders. You can check it here for futher information.

  1. Some negative aspects of regulations

In reality, traders will find more credibility in their brokers when they have regulation. On the other hand, brokers might be able to face some disadvantageous things if they get more regulations. I will explain this issue here.

Here are prevalent adverse aspects of US/UK ECN brokers:

  •    High spread and commission.

  •    Higher margin requirements.

  •    Less trading platforms supported.

  •    Less payment methods...

The reason why US and UK brokers have dealing with some disadvantageous sides is because of their regulations. Indeed, having many regulations can prevent brokers from offering high leverage, which led to low trading volume. As a result, the income of broker will be seriously influenced in this case. To be more specific, their income will be lower due to these regulations. When brokers have less income and they have to pay a big amount of money for extra costs. They tend to charge more spread and commission. In one word, if brokers have more regulations, they have less chance to compete with others. All these problems are considered to be big problem of US and UK brokers. You can click here.

  1. Regulations of these five forex brokers

No

Broker names

Regulations

1

Exness.com

CySEC, FCA (UK)

2

FxPro.com

CySEC, FCA (UK), DFSA (Dubai), FSB (South Africa).

3

XM.com

CySEC, FCA, ASIC

4

ICxafss.com

ASIC (Australia)

5

FXTM.com

IFSC

We can obviously see that all these five ECN brokers have at least one trusted regulation such as: CySEC, FCA or ASIC. As I mentioned above, when brokers have at least one trust-worthy regulation, they might be more better than others.

Here are three top best forex brokers with higher trading volume.

  •    Exness: $400 Billions monthly.

  •    XM: $300 Billions monthly

  •    FxPro: $ 100 Billion monthly.

As we can see, Exness forex broker now is having the highest trading volume, which is super beneficial for traders. These three forex brokers are existing around more than ten years, and having no scam report.

  1. These ECN brokers charge lowest trading cost

Presently, ECN accounts are charging lowest trading cost so that traders can benefit from. On the contrary, US brokers always charge highest spread and commission. Take Forex.com and FXCM as an example, they charge around 1.7-2 pip for trading EUR/USD, which can be disadvantageous for traders. On the other hand, five aforementioned brokers charge only a little bit spread, which is 50% lower than US brokers. ECN accounts, for instance, charge about 0.0xx pip spread and 5 - 7$ for each lot. Specifically, Exness charges lowest spread which is always a top of choice of traders. Their spreads is only 0.0xx pip. Sometimes, Exness charges lowest  spread which is zero.

  1. These five forex broker are offering best payment systems

Unquestionably, US and UK brokers seem to be good sometimes. However, they will charge a lot if you are in Asia or Africa. For instance, when I deposit Credit Card, my fund will be charged from 1.7 to 4 %. How can I get profit in this case? It is certain that I will choose ECN brokers that I can have a lot of perks. In fact, ECN brokers will provide their clients many benefits, especially local payment systems. Exness has the best payment system now. Exness is offering more than 30 different payment methods which traders can completely rely on this broker. From my experience, I totally bank on this broker because of its benefits and security. In other words, I will be able to gain more beneficial things and other better services. Exness is always my perennial favourite broker up till now.

  1. Is there any special thing on Exness Payment system?

I ensure that Exness payment system is the best because traders can make use of machines, which facilitate their withdrawal. Take me as an example, I choose Exness because I do not need to wait a long period of time for withdrawing money from my account. Whenever I want to withdraw my money, what I need to do is just use the machine and get money. It is super fast and convenient for all traders. In order to save time, we should come to this broker. Moreover, it is safer for us to pour a great deal of money into this broker without worrying about cheating problem.

  1. These five brokers have better trading platforms

As we all know, MT4 and MT5 are 2 most popular trading platforms in the world. In fact, they are not really good. Certainly, when making a comparison with other systems like Windows Vista, Xp. Two operation systems are better than MT4 and MT5 because we can download both on our cellphones. It leads to the reason that the majority of traders who always decide on two operation systems.

We can check it here.

  1. Good supports mean best brokers

It is true that the multitude of brokers who are supplying their customers through online form, and only focus on English. However, these five traders are more and more supporting their traders with a variety of supports. Customers will be able to have an access to various things including live chat, phone and local office. They all support traders with many beneficial factors, and are always available for 24/7. Therefore, whenever traders have problems, they can immediately come to these brokers and ask for help. Click here

Exness, for instance, is providing clients various great services. To be more specific, they provide around 11 languages and are available for 24/7. As a result, it would be of better use to traders when choosing this broker.

Read more : UPDATED LIST OF THE TOP 5 LARGEST FOREX BROKERS IN 2018

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.
10.09.2018.

UPDATED LIST OF THE TOP 5 LARGEST FOREX BROKERS IN 2018

BRKV - Beginners in forex trading often find themselves filled with questions such as “who is the top largest forex brokers?” and “which one of them is the most reliable?”. Needless to say, we traders all want to do business with the very best broker out there. However, it’s still a difficult thing to accurately determine a broker reliability and trustworthy even for us experienced traders.

That’s why in this article, I’m going to share with my fellow traders some of the information that I and my colleagues have gathered over our years of trading. It took me and my colleagues several months to gather a sufficient amount of data from various different sources and with many different methods but overall it was worth it that we had enough data to come up with a conclusive list. We had thought of including some online lists to this article but we have our own reasons to believe that most of the lists out there are fake and not trustworthy. To provide you with some proof, when we Google searched this phrase:”Top largest forex brokers”, the new and recent brokers such as HotForex, Icxafs, FBS or FXTM appeared on the first page which raised many doubts for its validity. These brokers are only opened not so long ago and their targeted customers are mostly from South East Asia and Africa, which make it almost impossible for these brokers to rise up to the top in such a quick amount of time. Our judgments can be wrong too, perhaps these brokers might actually can be at the top but still, we think it’s very unlikely and you shouldn’t trust the articles from such websites.

Here is our updated list of the best forex brokers in the world based on their month trading volumes:

  1. Exness.com: $395 Billions.

  2. XM.com: $320 Billions

  3. Forex.com: $300 Billions

  4. Saxo Bank: $300 Billions

  5. FXCM: $220 Billions.

UPDATED LIST OF THE TOP 5 LARGEST FOREX BROKERS IN 2018

1. Why should we trade with these largest forex brokers?

The larger brokers are known for their reliability and trustworthy at the cost of a little extra fee, while the smaller, shady brokers often take advantage of your every action to cheat you of your own money. The scamming methods of the smaller brokers aren’t usually noticeable at first and would even take quite a long time for experienced traders to notice that their broker is cheating on them.

Why is it hard to identify a broker as shady at the beginning?

The reason for this is that most brokers, even the largest and legit ones, want to lure you in by making you win fairly more often at the beginning of your trading history. From then on, most people would go overconfident and lose more, if not most of their funds by not thinking straight and not managing their risks. In the long run, the smaller, shady brokers would find more ways to scam your money little by little and most people often don’t recognize this until it’s already too late.

In this day and age, where almost everything is digitalized and can be publicly viewed on the internet, a broker’s history and reviews are no different. All the reliable brokers have overwhelming positive reviews about their services, trading conditions and security while on the contrary, the shady brokers are often flagged as unsafe by their own traders and can’t really survive for so long if they keep doing business that way.

2. Which standards to rank the largest forex brokers?

In this review, we’ll rank the largest forex brokers based on their trustworthy and their trading volumes. As for trustworthy, the most important thing to look for in a broker is its transparency. Most top brokers publicly announce their trading volumes and the names of the companies that performed these audits as well on their website. For those that don’t, I find other ways to determine their trading volume such as using statistic websites, financial news, … in order to have an approximation of those brokers’ trading volume.

There are some big brokers that have exceptionally high total trading volume such as: Forex.com and Saxo Bank while having relatively low forex volume. The reason for this is because they provide a wide variety of products such as Crypto, Forex, Future, Commodities, and Stock...

Examples:

  • 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 Best ECN brokers now.

3. Choose brokers suitable for your location

As you can see, most brokers that I’ve mentioned in the list above are from the US and UK/EU. Those brokers will certainly be excellent for people who live in the respective countries, however, for people who live outside of these countries, you’d want to consider your options more carefully by expanding your criteria such as below:

  • Whether or not they are regulated in your countries.

  • Supports for local payment.

For people who’s currently living in Asia and Africa, I’d recommend Exness to be the best choice for you. Exness targets mainly the Asia and Africa continent and have overall excellent supports for their customers. Their customer cares include 24/7 and multiple language customer support. They’re also known for their instant transaction processing time and many other benefits.

Read more about Exness Cent account, the best choice for beginners.

If you are living in Europe, I consider Saxo Bank and Exness to be the best brokers that you could choose.

If you’re still having doubts about whether or not should you trade with the US and EU brokers, you can refer to this article on our website: Best forex brokers for Asian traders

To sum up the article, here’s our list of the 5 largest forex brokers in 2018 based on trading volumes:

  1. Exness.com: $395 Billions.

  2. XM.com: $320 Billions

  3. Forex.com: $300 Billions

  4. Saxo Bank: $300 Billions

  5. FXCM: $220 Billions.

Read more : THE BEST FOREX CONTESTS: CHANCE TO DEVELOP YOUR TRADING SKILLS

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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