Look at top 5 best ECN forex brokers reviewed 2018

BRKV - In my opinion, to find out the best broker is not easy. With many years experience in trading, I can’t determine a best ECN forex broker because each broker has strong point and weak point. I discussed with lots of many different traders about standards of a best ECN forex brokers and we concluded that there isn’t perfect ECN forex brokers. But we can provide for you top 5 best ECN forex brokers based on trading conditions such as: lower spread, lower margin, better trading platforms, better payment systems….

Top 5 best ECN forex broker is shown in the following table:

No	Broker names	Rating
1	Exness.com	8/10
2	FxPro.com	7.5/10
3	XM.com	7.5/10
4	ICmarkets.com	7/10
5	FXTM.com	6.5/10

Now, I will introduce some criterions in order that you choose the most suitable ECN broker

1. Reliable brokers

The best forex broker needs to make sure about regulations. Regulations show that brokers have standards, reputation and capability. A license can guarantee the safety of traders keeping away from bad traders. On the other hand, a license will limit many things for a broker. Brokers don’t offer high leverage. So, their trading volume will be lower. Their income will be lower. They will have to offer higher spread, lower leverage, less trading tools, and higher minimum deposit... It clearly shows that having many licenses is not good at all. Especially, US and UK regulations don’t protect traders in the rest of the world. So, it doesn’t make sense for Asian, Africa traders have to pay more for US/UK regulation brokers but no one protects them if some-bad-thing happens .In my view, one trusted certificate is enough to prove that they follow reliable financial standards and company has good financial health.

You can consult this table to know more about top 5 best ECN forex brokers reviewed 2018.

No	Broker names	Regulations
1	Exness.com	CySEC, FCA (UK)
2	FxPro.com	CySEC, FCA (UK), DFSA (Dubai), FSB (South Africa).
3	XM.com	CySEC, FCA, ASIC
4	ICmarkets.com	ASIC (Australia)
5	FXTM.com	IFSC

I will give you some information about 5 these brokers and the reason why they are reliable.

- They are in top largest retail forex brokers:

Exness is the largest retail forex brokers: $400 Billions monthly.
XM Trading volume: $300 Billions monthly
FxPro: $ 100 Billion monthly.

These brokers founded around 10 years; I believe that they are the best ECN brokers to choosing in trading market.

2. Trading cost

The first thing is that we need to take notice of spread and commission. US brokers often charge highest spread and commission while these ECN brokers charge lowest trading cost. For example: For ECN accounts, they charge from 0.0xx pip spread and from 5 - 7$ for each Lot. Exness charges lowest spread with 0.0xx pip. Sometimes, If market doesn’t change, their spread will be zero. For commission they only charge 5$ commission per lot while ICMarket charges from 6 - 7$, XM charges 6$. The second thing is that they offer better payment systems/methods for Asia, Africa, and Australia.

I know some good US and UK brokers are only good in domestic market. For instance, now in my Asian country, if I deposit by Credit Card, my banks will charge me from 1.7 - 4% my fund. It's hard to earn 5% monthly but I have to pay 4% just for depositing. So, it is non-sense for me to trade in those brokers. So, choosing ECN brokers offer local payment systems is very important. The third thing is that these brokers need to have the best payment system.

With many years experience in trading as well as considering carefully many factors. I choose Exness is my “best friend”. They offer over 30 different payment methods. Particularly, they offer many local payment systems which are free-charged. I like everything which is clear and fast. Exness meets my demands. Exness payment system is fast because they built an auto system. Nobody can prevent withdrawal activities. Only simple actions you can trade with Exness easily. Check Exness Payment system here.

Look at top 5 best ECN forex brokers reviewed 2018

Last but not least, these ECN brokers offer better rebates/bonuses

I am attracted by some bonus programs. Most experts complain that they spend too much money to care about bonus/rebate. Things need to care is credibility, spread, swap and payment systems. But I think that rebates and bonuses are vital parts to draw attention traders. What if you get 5$ rebate per lot? It means you are saving 0.5 pip spread (if trading XXX/USD). For me, if the brokers are reliable, there rebate and bonus program are extremely attractive. Furthermore, offering bonus apply for ECN brokers while US and UK brokers don’t allow due to regulations as I mentioned above.

In these 5 brokers, there are only FXTM and XM have bonus programs for beginners. You can get 30$ welcome bonus when first times create accounts. And you also can get 100% bonus when depositing.

Get XM 30$ bonus here

Get FXTM 50$ bonus here

3. Trading conditions

In trading conditions, you pay attention to many things such as better quotes, developing more trading platforms, lower slippages, better execution speed, lower swap or fee swap. I think you should know more about quotes and trading platforms. Their ECN quotes are better.

To know the reason why 80% traders are trading Market Maker and STP accounts I did a survey of 100 traders. In fact, they tell me that ECN account is the best. But the best advantage of ECN account is low cost and transparency. Trading ECN account is risky for beginners because its quotes are much more volatile than STP and MM accounts. Better quotes mean there are less slippages, gap, and no-quote problem. Of course trading with a company (Market Maker) and a bank (STP) is much stable.

Here are top 3 Best ECN quote brokers

1	Exness.com	Check it now
2	FxPro	Check it now
3	ICMarket	Check it now

Although MT4 and MT5 are not perfect, they are 2 most popular trading platforms. Some brokers have invested their own trading platforms because they aren’t compatible with some operation system such as Windows Vista, XP as well as some phones. Therefore, FxPro and XM are placed high in developing/improving trading platforms.

Check XM trading platform here

4. Local supports

ECN brokers are more advantages than other brokers about language. They support 24/7 with over 20 different languages especially English, Chinese, and Thai by live chat, phone and local office as well. If brokers can support traders by local languages, it’s more convenient for us.

These brokers are mainly work on Asia and Africa. And these countries are the biggest forex markets: China, Thailand, Indonesia, South Africa, Malaysia, Vietnam, Iran, Russia, Arabic countries. For the countries that they don't have regional offices, they support by live chat and phone.

- Exness supports 13 languages and 24/7

- XM supports 30 languages and 24/7

- FxPro supports 19 languages

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.

Source: http://cashbackforex.club/tkmct_11/nen-choi-forex-o-san-nao-san-forex-nao-tot-nhat-viet-nam.html