Which 5 Brokers Are Leading On Forex Market In 2018

There is a fact that traders are hunting for the best Forex brokers but they have no circumstances to verify the quality of brokers. After years of trading on Forex, I built my own standards to evaluate the brokers based on their reliability, trading charge, and customer supports. The list below are the top forex brokers due to my standards:

• – Exness: 9/10
• – HotForex: 8.5/10
• – XM: 8/10
• – FBS: 7.5/10
• – FxPro: 7/10

Reliability

The reliability of brokers is the initial aspects traders need to pay attentions regarding the safety trading. Regulations are the basic to determine the reliability of a broker. This tool is provided by trusted authorities worldwide, defining the standards, merits and trading condition of brokers to safeguard the traders. However, brokers don’t need to comprehend to all regulations as it causes the higher spread, lower leverage, higher commission they offer and less competitive on the market. Generally, brokers just need to accomplish one or two regulations are enough. There are 5 brokers that satisfy those trusted regulations.

Trading charge

The following aspect of brokers’ reliability is the trading charge. There are different factors accounting for trading charge including spread, commission, and minimum deposit rate.

The first aspect is the minimum deposit when open an account. As understanding the fact of loss at start, new traders try to avoid putting too much fund. Meanwhile, this factor will catch professional traders’ attention when they want to test a new broker. The 5 leading brokers’ minimum deposit as below

• Exness minimum deposit: $1
• FBS minimum deposit: $1
• Hotforex minimum deposit: $5
• XM minimum deposit: $5
• FxPro minimum deposit: $500

The difference between the ask and the bid price is spread. It is the basic trading expense charged by brokers. It is measured in Pip. the high spread means the high trading expense. Hence, low spread brokers are inspiring almost traders. The spread of top 5 brokers are

• Exness: 0.7 pip
• Hotforex: 1.1 pip
• FBS: 1.1 pip
• XM: 1.7 pip
• FxPro: 1.7 pip

Regular account and ECN account are the 2 common account types of brokers. ECN account has zero spread and to be charged high commission as the trading expense. The top 5 brokers charge commision for ECN accounts are listed below

• Exness: $2.5
• Hotforex: $6
• FBS: $6
• XM: $6
• FxPro: $45

Customer support

Forex trading is complex. So, traders always need lots of supports from brokers for all their encountered troubles of trading. An ideal broker is the one alway in traders’ side at all time. Furthermore, a local office in target markets are the best way to face-to-face support traders with convenience. Besides, Asian traders need supporting in their own language as the limitation of English ability. So, brokers are expected to support this needs. They also need to have local bank support for transferring and withdrawing for minimising trading cost.

Overall, the leading brokers on forex market are rated as below

• Exness: 9/10
• HotForex: 8.5/10
• XM: 8/10
• FBS: 7.5/10
• FxPro: 7/10

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