It is obvious that traders all want to sink their money to the reliable brokers that can help them make more profit and lead to least risks as possible. However, not all traders can have the answer for the question that which ones are the best forex brokers for their trading. The truth is that the biggest brokers are not always the best brokers for all of the traders. The other main points are belonged to the styles of traders, their experience, and their areas also. Some of the most popular issues that traders are long to know the answers are that if there are any qualifications for best brokers, if all accounts such as Micro and ECN or regular accounts are suitable, if US or UK market brokers are more beneficial and sometimes you can wonders that if Dealing Desk or Non-dealing Desk, which one is the one.
For those who have these confusing matters in mind, this is a review and article for you to acknowledge more information and factors of the best brokers that work worldwide and aerially. They are all differently working but they can qualify some needs that make them suitable and profitable for many people living in most parts of the world.
The trading charges are in low level
Trading fees includes spread, commission, deposit and withdrawal charges, slippages or swap and the debate or bonus also.
The most popular fee is spread which can be understood as the distance of prices between prices of ask and bid one. If the distance is far, it is a far spread, for example, 10 pips are quite far, or it is a close spread if the spread is 0.2 for example. It is common that spread comes as the main earning for brokers so they have their right to give the spread as their will. So, it is more savings for traders who can choose the low spread brokers.
The broker styles can be separated into two kinds. The first one is the Dealing desk brokers who use the quotes from liquidity providers combined with a little extra of transaction fee and as a result making the spread higher of course.
The second type of brokers is the Non-Dealing Desk brokers which will not change anything for the quotes they get from providers, so their spread is always low and sometimes it can be zero even. However, zero spread makes them charge traders with more commission and brokers have also the decision of how much they cost for commission.
Another important fee that should be noticed is slippages or swap, which could occur in the process of executions when you make an order with one price but the later actual price, is different. It is likely to happen when the market is volatile and there are some changes in the world economy. To choose the less volatile brokers about slippages, traders should train to be more sensitive to the probable changes in the markets and try to trade with the low slippage brokers.
The result of experience can give me the top lowest trading fee, which are:
They can prove their reliability
No traders want to risk money to a trucking broker that tries to seduce their money only. Therefore, to avoid being tricked, traders are suggested to checks the brokers’ trust level in advance. The most important thing that can tell about the reputation of brokers are their obtained licenses or regulations that they are provided by some trustful financial organizations and of course these brokers who can gain the reputable license are also proven to meet some standards that these agencies present. Some trustfully regulated licenses now are CySEC (from Cyrus), FCA (UK), or IFSC, FSB (South Africa)…
Licenses are crucial to judge about brokers’ reliability but it is not the only element. The long time activities are also put on the checking process because their activities through ages and stages can be evidence for their transparence about if they were a scam or if they get in any rumors that cause more trouble for traders because they had the ineffective and fair solutions for the problems happened.
In summary, it can be listed as below some standards that traders can use them to check how reliable a broker is:
- The licenses
- The history of operation
- The scale and their level
- Their service and offices
- The establishment
- The account types
From all the mentioned factors, top 3 three most trustful brokers are Exness (9/10), HotForex (8.5/10), FBS (8/10)
Trading condition is better
The main point about trading condition is about leverage, which is like when you multiply the money you loan into several times to make the bigger chance for huger profit after trading. It is not the trouble and dangerous like some of traders may think because leverage is dependent on the accounts also. And the best brokers have the higher leverage offers. However, it is mostly about your trading strategies and the principles or experience you have that decide on whether you can profit your trading or not.
Here are top best forex brokers that also give the high leverage:
- Exness with Unlimited
- HotForex with 1:1000
- FBS with 1:1000
Click here for the best brokers for beginners.
Giving the best support service
There are some main standards to criticize on the best supporter brokers. First, it is about the place they build their offices. It is obviously convenient to present traders’ problems and situations directly with helpers from brokers’ offices. Therefore, local office is the first priority. Second, language support is also needed when not all the traders can communicate by English, such as Chinese, Japanese, Thai Indonesian or Vietnamese traders. (Click here for the best forex brokers in Thailand). With that reason, traders feel more welcomed if they can express by their own languages. In addition, to make it even easier to contact with the supporting service, it is more amazing if traders can provide the online service like live chat on their websites or by phone that can be contacted at any time.
Qualifying these standards above, these brokers can be ranked as the top amazing supporting teams:
- Exness supports with 18 languages within 24/7
- XM supports with 23 languages within 24/7
- HotForex supports with 27 languages
Summary to memorize some significant factors of the best forex brokers
Trading charges: Low in spread, commission, slippages, swap; and fee- charge transaction process
Trading condition: good quotes systems, good trading platform
Reliability: trusted regulations, transparent activities
Local support: supporting system, local offices, the level of availability
Here is the list of best rated forex brokers 2019
- Exness: 9/10.
- HotForex: 8, 5/10.
- FBS: 8/10.
- XM: 8/10.
- FXTM: 7/10.