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The best forex broker for your trading tactics

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For the past years, the forex market has become more and more popular among international traders who exchange currency pairs daily from all over the world. Consequently, there are many more companies offering the forex services, which are called forex brokers. However, choosing a good broker to start trading might be challenging for the beginners. Therefore, today journal is especially for Asian traders to decide which one is the best forex broker in 2018 by comparing some top famous brokers and ranked them based on 8 different categories.

So how can we evaluate a broker? The answer is how they treat their customers considering 3 factors. Firstly, a good broker must serve traders with excellent trading conditions and satisfied customer services. Secondly, it is essential for them to be transparent and safe. Lastly, best forex brokers need to concern about long-term profit for the traders. Don’t be fooled by bonuses or promotion from small brokers. Despite the facts that trading with small brokers is riskier because they are less secured and professional, best forex brokers usually offer little bonus for their traders since they expect the traders to understand that it takes time, effort and strategy to earn profit so the profit could not instantly made in the forex market.

After reading this article, I hope you could choose for yourself a broker that is most suitable for your conditions and trading strategies.

1. Regulation:

License from a trusted organization is very crucial for a forex broker since those organizations only qualify big international brokers so don’t trade with small, unregulated ones. The license demonstrates that the broker has standards, reputation and capability. There are some popular and reliable certificates namely ASIC (Australia), CySEC (Cyprus), FSA (Japan), CFTC and NFA (United States), and FCA (United Kingdom). Be careful by the fact that the license is regional. Even though it could guarantee the safety of the traders, but a broker with FCA certificate could not protect their clients in Asia. Moreover, a license would eliminate many things to the best forex broker. They would need to offer higher spread, lower leverage, less trading tools and higher minimum deposited. It obviously shows that quality is better than quantity, specifically, having a trustable certificate is better than having many licenses. Although being regulated by many licenses doesn’t make the broker better, it’s safer to know that your broker has license than none.

2. Transparency & Security

It is necessary for the best forex brokers to reveal everything about themselves to the traders since the forex market is a complex place and full of scammers. Therefore, an advice to traders for choosing a broker who is not shy to show their financial accounting and performances. Until now, only two brokers published all of their financial reports and performances, which are Exness and FxPro. You could easily find their reports and other information right on their websites. Furthermore, remember that most brokers promise to compensate customers when there are unexpected problems and you should check the audit of your broker to ensure that the company is carefully audited annually. Exness takes their transparency to higher level by revealing their bank account position and the 4 times the deposit fund of their clients so traders do not have to be worry about losing the money due to technical problem or crisis when trading with Exness. Additionally, Exness was audited quarterly by Deloitte so all information on the websites is 100% accurate.

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3. Trading Volume:

Traders are commonly advised to observe the trading volume of a broker, WHY? A simple answer is that the more a broker trades, the more reliable that broker is. Traders from over the world have believed in them, why don’t we?

Below is a list of some best forex brokers’ monthly trading volume:

Exness: $323 billion per month.

Hot Forex: $280 billion per month.

Forex.com: $185 billion per month.

FXCM: $108 billion per month.

4. Customer Service:

The forex field is complicated to everyone, so broker’s customer service is vital, especially for new traders who need support and instructions often. Therefore the best forex broker should always be available to help their traders with anything. Language is also a key of trading success. Since not all traders are good at English, so it is better for a broker to be able to help customers in various languages. Exness, FBS, FxPro and XM are all brokers offering outstanding customer care like 24/7 service, multiple languages. In my perspective, Exness seems to have the most satisfied supporting team because there is always an available of strong sale, supporting and marketing team in local markets. In the case of having any problems, you just need to chat with them on the website and you will be responded spontaneously as the supporting services operates 24/7.

5. Cost & Fee:

The title “Cost and Fee” means the spread and commission that a broker charges traders. Forex brokers should maintain their spread and commission as low as possible as traders plainly do not want to be charged so high. EUR/USD is the most common currency pair and some big brokers named above have low spread. While Exness, Hot Forex, and FBS have the spread of 1.1 pip, XM and FXTM’s spread is a little higher, 1.7 pip. Even though the majority of brokers do not charge any commission for regular account, ECN still charge commission as its spread is none. The best forex broker in this field is Exness, they charge the lowest price which is only $2.5 for each lot.

6. Withdrawal/Transfer System

The period for traders to withdraw their fund is concern able. For domestic brokers the withdrawal time will be shorter but they are not reliable. In contrast, foreign brokers is more trustable but the withdrawal process will take a longer time. Hence, you need to find a fastest trader so you could follow your trading strategy. Do you know that Exness is leading in short withdrawal or transfer time? One of the main reasons for traders to choose Exness because their system works automatically, so the time to perform these tasks is only millisecond.

7. Leverage:

All traders love brokers with high leverage and for them the higher the better. Ironically, owning to strict government regulations, brokers in Japan, United States or United Kingdom have to offer low leverage, just as I mentioned above about the regulation. Therefore, traders usually go to brokers with fewer licenses. Here some best forex brokers with high leverage:

Exness: Offer traders the highest leverage as possible, for accounts with less than $1000 and having traded more than 5 lots, the leverage is unlimited. For accounts with over $1000, it is 1:2000 top.

Hot Forex: 1:1000 top.

FBS: 1:1000 top.

XM: 1:888 top.

8. Minimum Deposit

With the fact that 90% new traders will lose all their money in the beginning, small and new trader do not want to leave much money in their account. Therefore, whoever brokers offer accounts with little deposit will be more suitable to you. Here are some:

Exness: only $1.

FBS: only $1.

Hot Forex: $5

Eventually, I hope you could decide which broker could support you best after reading this article. Of course, every brokers have their strengths and weaknesses. It is up to you to decide who to partner with.

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    • By millonmethod
      Hello everyone!
      I am an advanced trader, with many years of experience (about 15 years - 10 living exclusively from this)
      I am going to give you some tips that you must know:
      There are going to be many people who tell you that trade is easy, that with only crossiing a line  with another one you will win a lot of money.... and that´s not true.  No, Sir, reality is far away from that. Many people who start arrive here with the hope that someone "gives them" a free method, they watch youtube videos thinking that this will give them the "strategy" and in a few days they realize that it does not work for them - they lose money - and then They go looking for a new one ... and so on. YES, IT´S TRUE YOU EARN IN TRADING, A LOT. BUT THINK: for a few to win (10% + any BROKER) many others must lose (90% people). YOU MUST HAVE A MONEY MANAGMENT FORMULA ( you can email me) People study so many years to live on this, not because they are dumb, but to know what they do, when, and have absolute effectiveness. It´s very easy to get lost here: do not disperse, jumping from one to another strategy WILL NEVER give you money, it will only waste your time and make you nervous when trading. PEOPLE WHO CHANGE THEIR METHOD CONSTANTLY : LOOOOSE ALWAYS.   If you have the knowledge to develop it, take your time and do it.  Always try it first on DEMO for at least 2 weeks! If not: search to buy a solid strategy (no you tube videos pleassse ! Avoid losing money! ) This is like any business, it requires some capital to start (capital = money in the broker + solid made /purchased strategy) If you are lost: I RECOMMEND YOU NOT TO WASTE TIME IN YOUTUBE, JOIN PEOPLE WHO HAVE EXPERIENCE AND IF YOU ARE GOING TO BUY A METHOD ... PLEASE !!!! DO NOT BUY 10 BAD AND CHEAP METHODS, SAVE MONEY AND BUY ONLY 1 BUT EXCLUSIVE AND MUST ALLWAYS HAVE SUPPORT !!!!!  Do not buy Signals! They never keep up with constant profits! One week will win and the next will lose. Nothing that does not depend absolutely on you will give you the money you are looking for. And if you do not have a strategy (made or purchased) do not even try PLEASE PLEASE PLEASE: DO NOT USE REAL MONEY! AT LEAST 2 WEEK DEMO FREE HELP HERE!!!!!  IF YOU FOLLOW MY ADVICE YOU WILL BE PART OF THAT 10% WINNER, email me.
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