Traders are on the place of the confusion because they know not very well about forex brokers. What can solve this situation? They need the clear strategies and start first with analysis of the way brokers function with the system of trading cost, certificates or the supporting methods…These features are some of the most significant things that should be tested before traders invest their money:
- Exness reviews: 9/10
- HotForex reviews: 8.5/10
- XM reviews: 8/10
- FBS reviews: 7.5/10
- FxPro reviews: 7/10
This list shows the top five forex brokers now in the market. They run their business very well that fulfill some standards as I mention below
Caring for their clients is most satisfying
Traders are the ones who want support the most and it better come from the brokers that they have accounts in there. Any difficulties come around should be handled in person at the local offices that brokers develop in their clients’ countries. Best brokers will recognize this need. Also, they know how to serve the best service for Asian clients; because of their incompetence with English, best brokers will help it easier with the language tools communicating in the local language. Some great brokers like Exness FBS also help reduce the transaction fee with local banking payments.
Certification
A lot of traders worry about brokers’ reliability if they satisfy some certain rules to protect the traders from risky situations or not. The truth is licenses are the evidence for the financial security. Traders will feel safe if brokers can occupy the trustful licenses with the reputable principles. And also, brokers have the appropriate number of licenses to ensure that they can offer the supportive and competitive trading cost, such as low spread and commission or high leverage. In order to make traders feel safe about their certificates, top forex brokers intend to have one or two licenses:
| Brokers | Certificates |
| Exness | CySEC, FCA |
| HotForex | CySEC, FSCA, FCA |
| XM | CySEC, FCA, ASIC |
| FBS | CySEC, IFSC |
| FxPro | CySEC, FCA, DFSA, FSB |
Trading fees
Trading fees are important for traders because it can be piled up through time. So it is obvious that they will worry about that much. Usually, spread, commission and the minimum deposit will be cared much more.
Spread is popularly known as the differences between bid and ask price. Traders will face with this fee the most so they do not want lose a lot of money on this. By researching and experience, Exness costs least for spread with 0.7 pip, coming after is Hotforex and FBS with 1.1 and the last ones are XM and Fxpro, at about 1.7 pip. These are ranked the top lowest spread forex brokers.
Minimum deposit is also a topic to be discussed about a lot. Who would care about this a lot? These are new traders in the forex world and new traders for the very the brokers who want to learn more about one broker. Both cases, they do not want to put too much money for the first trading so they do a lot of researches for brokers’ minimum deposit. The first one, they are new for forex trading, so risky moves are not suggested and for the second one, they just want to try the trading system so the little minimum deposit is most liked. The lowest in minimum deposit as below will meet their requirement:
| 1) | Exness: $1 |
| 2) | FBS: $1 |
| 3) | Hotforex: $5 |
| 4) | XM: $5 |
| 5) | FxPro: $500 |
Commission is also one of the most cared fees in the term of trading fees. It is a common fact that ECN account will cost the commission because ECN accounts are spread-fee. Therefore, commission is necessary for the income of the brokers and top five’s commission is:
| 1) | Exness: $2.5 |
| 2) | Hotforex: $6 |
| 3) | FBS: $6 |
| 4) | XM: $6 |
| 5) | FxPro: $45 |
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