The best forex brokers

The best forex brokers

Traders may feel hesitate about whether they are working with the best forex brokers or not. To make it clear before you trade, you should look at some reviews about how brokers develop their system to help make strong relationship with traders with the trust and good benefit. As a result, traders will base on some criteria to judge about one broker as I will show you later all the aspects to check if the broker is suitable for you.

Brokers with highest leverage in the market

Leverage is one of the matters that attract clients depending on the brokers’ leverage offer. In the market, Exness is now giving the highest rate for leverage. Their policy is that accounts with less than 1000$ and have done trading for five times will receive the leverage of unlimited number, and with the more than 1000$ account, the leverage could reach 1:2000. While other brokers also offer the high leverage but their numbers are a little lower, such as FBS and Hotforex at 1:1000 and XM at 1:888. Generally, brokers from Japan and UK and US areas can not offer that high leverage because of their too many licenses.

Lowest trading cost among biggest brokers

Let analyze commission and spread to see which brokers cost the least.

About commission, most of the brokers keep the commission at zero for regular account but will cost the fee of commission for ECN account which is zero spread charge. Then, which broker asks for the lowest commission in the best ECN brokers? Now, Exness charge only 2.5$ for one lot completed, which is the most reasonable in the field.

About the spread, it can be understood clearly through the chart as below:

  • Exness with 1.1 pip
  • Hotforex with 1.1 pip
  • XM with 1.7
  • FXTM 1.7

From this list, it can be seen that Exness and Hotforex are leading in this matter.

The account type development of brokers

Brokers have different strategies about account categories. Generally, low investment traders want to open accounts that ask for the little minimum deposit. Some big brokers like FXCM and Forex.com require the minimum deposit with the high numbers at 2000$ and 500$ respectively. Meanwhile, small traders would like to trade with small deposit like FBS with 1 $ and Hotforex with 5$, or Exness even lets the traders choose their own minimum deposit.

The best support policies of the biggest brokers

Traders care a lot about how quick they can get the reply from brokers for their problem and the working areas of their offices. About this matter, Exness reviews say that they are doing so well when they build a support system with the collaborated IB network at their areas and also have office their to contact with traders 24/24 directly or through the phone. Moreover, their language tools are various and that is opening way to traders who are not good at English, they can communicate by their own language to explain their issues for brokers.

The suitable licenses that brokers should gain

The certificates mean a lot to traders and brokers. With the trusted licenses, brokers can prove their reputation. However, there is a truth that more licenses are the cause of the higher trading cost, which are higher spread, higher minimum deposit and of the less benefit like low leverage, less competitive ability… All these are the consequences of too many license or inappropriate licenses. For example, Asian brokers should have license from Asian countries, so do UK and US brokers. Or brokers can gain only one trusted license to show the evidence of their reliability. In the forex market now, ASIC, CySEC, FSA, CFTC, NFA, NFA are the most trustful licenses.

You can be sure that all the biggest brokers now have the reputable licenses so stick with the largest brokers to be guaranteed that they meet the requirement of standards of trading condition.

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