Finance

What do you know about the best forex brokers?

Written by Admin

It is obvious that forex brokers plays an important role in traders’ success and every trader have to make effort to find the best forex brokers that are really suitable for them. In this article today, I would give you some reviews of the brokers that I think have superior features such as regulations, customer support and trading costs,…

Excellent support team

The forex trading world is very complicated and traders always need both professional help and advices on how to make money effectively and safely. The brokers that I have mentioned all have good customer service including 24/7 as well as multiple language support. Most of these brokers have their own branches in Dubai, China, Thailand, Indonesia and Malaysia.

If you live in countries that don’t have regional offices, don’t worry. These brokers offer support online as well as through phone in English or your native languages. The language support is very necessary for traders who want to work with ECN brokers and are not good at English. Here is the list of the brokers who can help you trade more easily in different languages.

– Exness supports 18 languages

– XM supports 23 languages

– HotForex support 27 languages

– FxPro and FBS supports 19 languages

Especially, Exness and XM, the best forex brokers in Thailand, support clients 24/7

Regulations

You should trade with brokers who have your countries regulations on the condition that your country have regulations. But what should you do  if your countries don’t have regulation?  It is advised that you should choose brokers who have 1 prestigious, which is enough. Some trusted  regulations can be US, UK, AU, JP, Hong Kong, Singapore, and CySEC.

The below board will give you some information about the regulations some outstanding brokers have:

No Broker names Regulations
1 Exness CySEC, FCA
2 HotForex CySEC, FSCA, FCA
3 XM CySEC, FCA, ASIC
4 FBS CySEC, IFSC
5 FxPro CySEC, FCA, DFSA, FSB

 

Minimum deposit and trading costs

Some beginners don’t want to deposit too much because they  just want to practice trading with real accounts and so they need a broker that requires little deposit. For traders who have experiences, they don’t want to deposit much since they just want to test some features of a broker such as the spread, the execution speed, payment system or fees…

before working with them. The minimum deposit of XM and Hotforex are $5. FBS and Exness minimum deposit are $1.

All traders want low trading costs as these small costs can add up to quite much money after a long time trading. As an effect, you should pay attention to the trading costs of your broker.

Because their regulations have some disadvantages, US and UK regulations don’t allow them offer high leverage or bonuses. They also have to pay more for the regulation fee. For this reason, more spread and commission are charged.

In my opinion, each broker have its own good points. If you are Africa traders, XM and FxPro can be suitable for you. If you are Asian traders, remarkably for scalpers, Exness is a good choice. If you are US traders, Forex.com is recommended. XM, FxPro, Exness are among the best brokers for European traders.

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