There are hundreds of brokers all over the world with many different levels so traders can confuse about choosing the best forex brokers for themselves. The question is which brokers are reliable enough to let traders trust in. Even if traders search the phrase “the best forex broker”, there will be various results on different pages, which makes traders confused. Therefore I decided to write this article of reviewing all the real best forex brokers in the world. Hopefully this will help traders to clarify about this information for their best choice.
In this article, I will clarify all standards to be the best forex brokers:
- The regulation
Credibility is the first criteria of the best forex broker. So traders often pay attention to licenses of regulation that brokers possess. So what is the regulation? Regulation is range of rules that non-profit or profit organizations offer to manage the broker. In contrast, in case the broker wants to have one regulation, they must fulfill all rules offered by the broker. To obtain these regulations, the broker must overcome many tests to be recognized to reach the level. These regulations can be from US, UK, AU, JP, Hong Kong, Singapore and CySEC. Below is the table of regulations obtained by some big forex brokers:
| 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
Traders often want to find the brokers who have as low trading cost as possible since they want to save money to invest in trading more. So they pay much attention to choose the brokers with the low trading cost. Spread and commission are the main income of the brokers. Depending on each broker’s strategy, they will charge the different rate of spread and commission. Mention brokers have the high trading cost because they need more money to pay for handling rules of regulation. But they try to offer the best trading costs for their traders. Below advices are good for you.
If you are ASIAN traders, Exness is the best brokers for Scalpers.
If you are Africa traders, XM and FxPro are the best.
If you are US traders, Forex.com is the best
If you are European traders, XM, FxPro and Exness are the best.
Moreover, the minimum deposit is also concerned by traders. Beginners want to practice trading but they don’t want to waste money and other check their trading strategy so they need the broker with the low minimum deposit as well.
– FBS and Exness minimum deposit is $1.
– XM, Hotforex minimum deposit is $5
- The good customer service
As you know that the forex market is very complicated and wide so trader could meet some difficulties, especially trading beginners. That is the reason why brokers usually find the best ways to give the unlimited support to their customers. Live chat, phone and local offices are the basic methods to support customers. The aforementioned brokers have the excellent service including 24/7 support in various languages. Moreover, they also have the local offices in some countries such as China, Thailand, Indonesia, Malaysia and Dubai.
If there is no local office, they will have the live chat and phone support in English and some local languages. This support is mainly applied in South Africa and Asia because traders may not be good at English so they will be supported by local languages instead. Below is the list of those who can help you in different languages:
- Exness supports 18 languages 24/7
- XM supports 23 languages 24/7
- HotForex support 27 languages
- FxPro and FBS supports 19 languages
In conclusion, below brokers are the best for traders now:
- Exness reviews: 9/10.
- HotForex reviews: 8/10.
- XM reviews: 8/10.
- FBS reviews: 7.5/10
- FxPro reviews: 7/10.
