Choose the best forex brokers, choose your trading future

Choose the best forex brokers, choose your trading future

It’s not hard to identify the best forex brokers. They will mainly focus on traders, keeps improving their trading conditions to help traders earn money, and don’t concentrate on short-term profit.

When you choose a forex broker, be careful with their bonus which can be a trap for you. Usually, only brokers with less prestige or new brokers offer too many promotions. In forex, the more profit you get, the riskier it gets. Thus, all large forex brokers don’t offer too many bonuses. This article is provided to give you an overview of the best forex brokers.

Which forex broker has the most license?

The forex certificate often represents standards, capabilities, and reputation. It’s not enough if you consider sorely on the forex certificate. Only one of the following forex licenses is good enough: ASIC, CySEC, FSA, CFTC, NFA, NFA. When a trade has many licenses, it doesn’t mean to be better. If you are a broker at Asian market, US or UK licenses are not useful. Similarly, brokers who operate primarily in the US don’t need UK license.

The major problems of having many licenses are that they must offer low leverage, high spread, less trading tools, high requirement deposits… So don’t evaluate only by their licenses. One reliable license is enough.

Which forex broker has the best support team?

If a customer service is available, any concerning problems will be promptly solved. This will help traders to be fully provided with forex information. Sometimes, the language barrier will extend the response time because traders don’t know how to explain in English. So, customer service is a criterion to evaluate whether a forex broker is good or not.

Many famous international forex brokers that have good support team can meet demands, such as: Exness, FxPro, FBS and XM, the best forex brokers in Thailand.

Exness seems to have the best support team. This broker has very strong sales, supports, and marketing team who is always available to the local markets. Therefore, if you have any problems, just contact them on the website 24/7, and you will get a prompt response.

What forex brokers offer the lowest transaction cost?

Transaction cost is defined as the cost after you calculate the spread and commission.

Firstly, I will compare their spread. EURUSD is the most popular currency pair. So I will compare its spread among these forex brokers:

Exness’ spread is 1.1 pip.

XM and FXTM is 1.7 pips.

Hotforex spread is 1.1 pip.

You can see that Exness and Hotforex has the lowest spread (1.1 pip).

Secondly, I will compare those brokers’ commissions. All of them don’t charge commission for regular accounts. They only charge commission for ECN account because ECN spread is nearly zero. Commission is the main income they get from ECN accounts.

For ECN account, Exness reviews that they are the best choice. They only charge $2.5 for each lot. This is the lowest rate in the forex market.

What brokers offer the highest leverage?

Leverage is a tool popularly used by most traders. Often, British, American, and Japanese licensed brokers offer low leverage because they have to comply with these local licenses.

Among prestigious international brokers, the following forex brokers offer the best leverage:

– Exness: 1:unlimited.

– FBS: 1:1000

– Hotforex: 1:1000

– XM: 1:888

What forex broker offers the best account types?

Big forex brokers often require big deposit amount. Small traders usually prefer lower minimum deposit rates.

– Exness does not require minimum deposit.

– FBS minimum deposit is 1 dollar.

– Hotforex minimum deposit is $5:

From what I mentioned above, I can rank the best forex brokers in order as follows:

– Exness: 9/10.

– HotForex: 8/10.

– XM: 8/10.

– FxPro: 7.5/10.

Categories: Business

About Author

Write a Comment

Your e-mail address will not be published.
Required fields are marked*