Finding the best forex brokers is very difficult, which is only discovered by experienced brokers and experts only. After a long time of trading with many big brokers in the world, I have enough experience and information to give you advices of best forex brokers. In this article, I clarify all factors of one good forex broker and give you the list of best forex brokers for your reference. If you have concern about this topic, let’s read until the end of the article. You’ll find some good information.
When choosing the best forex brokers, you must consider your own area and other personal reasons. Don’t pay much attention on promotions from brokers. Because these promotion is hard to get, sometimes waste of time finding the same result without promotions.
Below are standards of one good broker for your reference:
- The credibility
When mentioning the credibility of one broker, we often think of licenses of regulation first. It is right to think of regulations. So what is regulation? And why is it important to decide the credibility of the broker? Regulation is a range of rules offered by broker to manage the broker. Actually these rules have the high level of achievement, which means the brokers must completely cover all to gain the regulation. So it is very difficult to have a regulation. If one broker has one regulation, it is enough to prove their qualification and reputation. Below is the list of regulations obtained by best forex brokers. These regulation may be from US, UK, AU, JP, Hong Kong, Singapore, and CySEC which are trusted as well.
|2||HotForex||CySEC, FSCA, FCA|
|3||XM.com||CySEC, FCA, ASIC|
|5||FxPro||CySEC, FCA, DFSA, FSB|
- The low trading cost
The trading cost includes spread and commission so if these cost is low, the traders prefer to choose to trade with. So brokers offer the best trading cost to attract more traders as well. Because brokers must pay more for regulation fee so they charge more spread and commission. These are best brokers with best trading cost for you. Below are advices of brokers with best trading costs for each type of traders. You can take a look to consider your choice.
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 spreads are the best.
Moreover, these brokers propose the low minimum deposit as well. If you want to practice trading or check your trading strategy. You can consider to trade with them.
– FBS and Exness minimum deposit is $1.
– XM, Hotforex minimum deposit is $5.
- The good payment method and customer service
The good payment method: Mentioned brokers have the connection with local banks in some Asian countries such as Thailand,etc. This is the method to reduce the transfer cost for traders during their trading process.
The customer service: we cannot deny that the forex trading is very complicated and vast so that traders find confused. They need the advices and professional support from brokers to reply their questions and protect them from losses. Mentioned brokers have the excellent customer service 24/7 in many different languages. They create some branches in China, Thailand, Indonesia, Malaysia and Dubai. If there is no local office, they will set up live chat channel and phone line in English and native languages. This type will be mainly applied in Asia and South Africa. Because traders here are not good at English so they prefer the native language. Below is the list of those who can help you in different languages.
– Exness supports 18 languages 24/7
– XM supports 23 languages 24/7
– HotForex support 27 languages
– FxPro and FBS supports 19 languages
I conclude that these below brokers are good for you:
- Exness reviews: 9/10.
- HotForex reviews: 8/10.
- XM reviews: 8/10.
- FBS reviews: 7.5/10
- FxPro reviews: 7/10.