Trading forex has always been a difficult subject, no matter who you are. This case is especially true for the ones who have just begun their journey into the forex world, and one of the most pressing issues is how to find the best forex brokers. Thus, that is why I will present to you my list of the currently best forex brokers on the market of 2018. They are:
– Exness: 9/10.
– HotForex: 8/10.
– XM: 8/10.
– FBS: 7.5/10
– FxPro: 7/10.
How have I come to this conclusion, and what is the standard that I have used to rank these 5 brokers? The answer to those questions is right below.
To gauge the quality of a broker, I personally like to use these standards:
- Trading cost
The reason is that these things are essentially the foundation of a forex broker.
For any trader who has been trading in big numbers, there is no other standard that can be more important than which kind of regulations the broker they are aiming for possesses. For better or worse, these things will no doubt be what help you the most in identifying the dependability of forex brokers. In the case of your country having some kind of regulation, then congratulation, you are in luck. Now, never hesitate and register with any broker who does have that regulation. On the other hand, if your country, unfortunately, doesn’t have any kind of regulation, then there is nothing a broker can do to protect you. Thus, you shouldn’t choose any dealer that does not has at least one reliable regulation. You should remember that only one reliable regulation is sufficient.
For 2018 top 5 best for brokers, they have:
- CySEC and FCA for Exness
- FCA, FSCA, CySEC for HotForex
- ASIC, FCA, CySEC for XM
- IFSC, CySEC for FBS
- FSB, DFSA, FCA, CySEC for FxPro
There is no arguing that the client support service is more essential than any other aspect when you are trading. After all, any kind of business still has to deal with people, and people would always require the help of the support staff. This is not mentioning the fact that the forex trading world is just too vast and complicated, which makes the new learners of the trading worlds too confused.
Thus, the new traders of the forex trading scene would always need of the help from the best ECN brokers or just some actual advice from the support staff on the correct way to make some safe money. That is why the very best dealers in the world of forex trading must always have some undeniably great support for their clients. One prime instance would be the support offered in multiple languages that ranges all days of any week.
Costs for trading
To be more specific, trading costs refer to all the expenses that you will be paying during the time you trade forex at any kind of broker. Any foreign exchange loves it whenever these costs fall down. After all, while these costs may seem minimal at the first glance, they will snowball after you have been trading for some time and become a huge amount that you will have to pay for. So, whenever you try to find a suitable forex broker, I suggest that you should first do some researches on what the trading costs will be like at that broker. Also, you should try out the FBS, XM, and Exness demo account first. As for spreads and commissions, I am sure the newbies who have less knowledge on the professional terms will not know them. To be simple, they are the main incomes of any forex dealer.
As you may be aware of, it is costly to get and then maintain any kind of regulation. In addition, the regulated traders have it harder to raise leverage or bonuses. Thus, they charge more.