The best forex brokers can be determined by many different ways, but today I will introduce to you the most common way. This is looking at brokers’ core. If they are perfect, they will care more about traders and keep improving their trading conditions to help traders earn money, not concentrating on short-term profit or paying IB more money to get customers’ attention.
If you would like to learn more about the best forex brokers, let read this article. I believe it can give you a good review of the best forex trading brokers as it is based on the trustworthy information sources and my own experience.
First, let learn about the forex brokers that have good support team.
I don’t think I need to say much because we all know that customer service is very significant in doing business since business is all about people, trust and profit. Especially, beginners will certainly find themselves lost in a vast and extremely complex place like forex trading market.
Thus, what they care the most is professional help and advices on how to make money safely. Luckily, top 5 best forex brokers that I’ll mention later have very good customer service. Such services are supporting 24/7 in multiple languages for the countries they have local offices as well as online and via phone for those they don’t have regional offices.
– Exness supports 18 languages 24/7
– XM supports 23 languages 24/7
– HotForex support 27 languages
– FxPro and FBS support 19 languages
Second, I will show you more details about regulations of the best forex brokers.Trading for a long time, I admit that regulations are so critical. You can choose any brokers obtaining your country’s regulations to trade with in case your country has regulations. If not, you should choose the brokers that have one of these reliable regulations: US, UK, AU, JP, Hong Kong, Singapore, and CySEC.
You can also consult the table below – top best brokers and their trusted regulations:
|2||HotForex||CySEC, FSCA, FCA|
|3||XM||CySEC, FCA, ASIC|
|5||FxPro||CySEC, FCA, DFSA, FSB|
Final, let consider which forex broker has low trading costs.
In this field, you should remember two terms spread and commission which are the main income for brokers.
As I have mentioned many times before, U.S and UK brokers are unable to offer high leverage or bonuses due to the obligation of their regulations. That’s why they have to charge more spread and commission.
Hence, if you want to find brokers with low trading costs, you should choose the following ones.
If you are ASIAN traders, Exness accounts 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.
One more thing I think you would like to know is why forex traders care about the minimum deposit of a broker. The reason is based on the aim of traders. If they want to practice trading in real conditions, they will find a broker that requires very little deposit to start trading with real accounts. If they want to test the features of a broker before working with them, they can refer the brokers below.
– FBS and Exness minimum deposit is $1.
– XM, Hotforex minimum deposit is $5:
That’s all information regarding the best forex brokers I would like to share with you. Below is the rank of the best forex brokers in the order:
– Exness reviews: 9/10.
– HotForex reviews: 8/10.
– XM reviews: 8/10
– FxPro reviews: 7.5/10.