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

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.
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