How to decide the best forex broker 2018

BRKV - Why are people looking for the best forex broker 2018? With the worldwide connected economy, forex is always a hot market for traders. Therefore, many forex brokers are trying to gain their reputation and make the traders take more thoughts on what traders are the best one for their business.

To make it even easier for those traders who want the good forex broker services, this article will summarize clearly and wholly the best forex traders of 2018 through criteria that traders can review basing on these. Obviously, a good trader has a trustful service with the license confirmed and provides a quick solution that cost the tiny fee or none at all. These advantages are the features that differentiate them from the small or beginning brokers that are less guaranteed and committed. From these categories, both beginners or experienced ones can rely on and make good decisions for their trading when working with or exchange forex.

So review this article for choosing the suitable brokers for your upcoming plans of trading. Or you can read this article for the current best 5 brokers.

Licenses

Globally famous brokers definitely own for themselves a reliable certificate that is certified by reputable organizations. There are some certificates that make the names trustful itself like NFA (US), FCA (UK), ASIC (Australia), CySEC (Cyprus), FSA (Japan), CFTC (US). With these licenses in hand, a big broker can define themselves for reputation when working with clients. They, clients, can totally trust the brokers can serve them the best service with these licenses.

However, there are warnings that worth noticing that one license fits perfectly for one area. For instance, the Asian market is well served with FSA certificate and kind of not relevant with an FCA one. And secondly, more licenses brokers have more spread, fee or less leverage and trade tools they provide. So, it is not totally perfect for a broker to own a lot of licenses but one with a high level of trust or standard is good enough for gaining traders’ belief.

Transparency and Fund

It is a huge loss if you are unlucky being tricked by the scam or unsecured brokers that usually have an unclear fund or try to hide the financial reports. So, how do traders know which brokers have the high level of security and transparency that make sure they will be compensated if they lose money. With a publicized brokers they are not hesitated to post all the information about their fund, revenue or financial report right on their site so that any traders can consider themselves. In the recent forex brokers, Exness and FxPro are two brokers that typically have their financial states apparently shown on the websites. Exness even announces their fund now is 4 times higher than the clients’ deposit, which means clients will be guaranteed to be protected if they will be in sudden troubles.

So, transparency and security is an important feature when judging a broker when traders are walking around to find a safe place to invest.

Trading volume

From the financial report of some best forex brokers, I can provide some valid amount of trading volumes from big brokers that are counted yearly

Exness: 323 billion $ each year

Hot Forex: 280 billion $ each year

Forex.com: 185 billion $ each year

FXCM: 108 billion $ each year

What does the trading volume say about a broker? Yeah, a high trading volume proves that this broker gains their credibility and is trustworthy attracting clients everywhere.

Withdrawal or Transfer

When traders do their business that is when they risk a huge amount of their money into this trading, so, they do want all the process will be smoothly run. By smoothly, that does not just mean “quickly’’, ‘’safety’’ and ‘’efficiency’ are more important. With the transfer or withdrawal process, internal brokers may offer the faster way or period of time but they are riskier than the foreign brokers which are more professional and well-known widely.

Exness has the better solution for this concern when they have an efficient system that transfer and help client withdraw in the nick of time with the working-well machine that commits the fast service. Exness has the focus on this aspect and to make sure that all the work is done quicker than any other brokers.

Fee and Commission

There will be cost for the service and forex brokers are no exception, but with the market of the variety of brokers, traders can still be settled with the most reasonable fee and spread. Considering some figures below to see what is the most ideal brokers for traders when they want the lowest spread or charges or even none at all for the service. For some low-rate-in-spread-and-commission brokers, I can name Exness, Hot Forex, or FBS just with 1.1 pip in the comparison with some other higher numbers of XM and FXTM’s go with about 1.7 pip. Of course, there are most brokers have their priority to regular clients when they cost no commission on them. However, for ECN clients, they have to pay for the commission when the spread is almost not at all. Check here for the best ECN brokers today.

Almost big brokers in the world work with EUR/USD currency pair so the lowest spread and the tiny amount of commission are preferred by traders and there is one recommend for them is Exness with the lowest spread rate, just about 2,5 $ for each lot.

Customer service

One of the most satisfying fact that gains clients’ long-term relationship is the good customer service that makes the traders feel they are always welcome with any problems faced. Forex markets are run worldwide and when traders operate their business with the forex, languages are the huge block. So, the brokers are tooled with the multi-language speaking staff will serve with the efficient service. Moreover, the professional traders work all day with the flexible time frame that is available at any time. The good service like that can be found on some of the well-known brokers like Exness, FBS, FXPro, and XM.

Leverage level

How to know what brokers can be a good source for good leverage. With the case of the US, UK or even Japanese brokers, they are governed by regulations of many licenses that require a high fee or offer low leverage. That means traders will find other paths that are generous on the leverage for their trading plan. Exness offers for the accounts trading over 5 times and having the amount of margin of more than $1000 the maximum leverage of 1:2000, that is definitely a huge amount. Or that maximum number of Hot Forex FBS is 1:1000, and for XM is 1:888. These are easy going gate for the traders want an open door for their trading, especially Exness.

Deposit amount

Why is a minimum amount of deposit is so compromising for traders? Assuming that you are a fresh trader that is so green and naive for the market, the little amount of deposit is the best cost for a failure for the first time trading. Some big brokers understand that beginning traders are stepping one foot into the forex market so they will risk very little amount for the deposit. For the begging step or the safe spend on forex, a beginner can make the very first account on Exness and FBS with only $1 for the deposit or Hot Forex with $5

These all review about some features that may be useful for your consideration when you invest in the forex field, so make sure you have in hands all the judges from this article. If you’re looking for an account for beginners, check here.

Hey there, this is Fanara Filippo. I'm the author of this article and I'm currently collaborating with Brokerreview.net, or BRKV in short. My articles are mainly for forex traders from Thailand, Indonesia, India, Bangladesh, and South Africa.

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