The best forex broker is not easy to find out however we analyze all criteria of them, we can find out the best one for themselves. In this article, I will cover all aspects of one best forex broker for your reference.
When choosing the best forex brokers, traders should not pay much attention to the promotions and bonuses. Because these promotions can make traders confused.
If you have any concern about best forex brokers, you should read until the end of the article.
- The good customer service
As you know that forex market is very complicated so that traders need the support and advices from brokers to discover all corners of forex market. They always need the professional help and advices on how to make money safely. Mentioned brokers have their own local offices in China, Thailand, Indonesia, Malaysia, and Dubai.
For countries without offices, they try to create the support channel through live chat and phone line to give the traders in English and top popular languages such as Chinese, Korean and Malaysian,etc. They mainly support those who want to work with ECN brokers in South Africa or Asia because they are not good at English. Here are brokers who can help you in different languages.
– Exness accounts supports 18 languages 24/7
– XM accounts supports 23 languages 24/7
– HotForex accounts support 27 languages
– FxPro and FBS accounts support 19 languages
- The credibility
The first criteria of the best forex broker is the credibility which closely connects the licenses of regulation. So what is regulation? Regulation is range of rules offered by non-profit or profit organizations to manage the broker. If the broker have the regulation, it means that broker can protect traders from illegal actions. These regulations are from US, UK, Hong Kong, AU, JP, Singapore and CySEC. Below are the list of regulation best forex brokers obtain.
| No | Broker names | Regulations |
| 1 | Exness.com | CySEC, FCA |
| 2 | HotForex | CySEC, FSCA, FCA |
| 3 | XM.com | CySEC, FCA, ASIC |
| 4 | FBS | CySEC, IFSC |
| 5 | FxPro | CySEC, FCA, DFSA, FSB |
- The low trading cost
The lower trading cost, the more traders brokers have. That is the reason why brokers find the ways to decrease the spread and commission as low as possible. Trading cost is concerned very much by traders because they want to save money for investing into orders.
Above brokers must pay for regulation so they often charge more spread and commission. Moreover, trading beginners often want to practice in the real forex market without spending much money. Because they know that 90% of new traders would fail at the beginning times. On the other hand, experienced traders need to test features of one broker like spread, commission, the execution speed, payment system, fees, etc. Then tend to choose the brokers with low trading cost, for example the low minimum deposit.
– FBS and Exness minimum deposit is $1.
– XM, Hotforex minimum deposit is $5
In my opinion, after checking above criteria, I could conclude that the best forex brokers as below:
– Exness: 9/10.
– HotForex: 8/10.
– XM: 8/10.
– FBS: 7.5/10
– FxPro: 7/10.