In forex market, traders have always been struggling with the difficulty of finding best forex brokers. Normally, traders are quite attracted by some brokers who offer some bonus programs. In this case, they easily lose their money because most of those brokers are new brokers in forex market. Therefore, traders should be well aware of how to determine which broker is suited for them. If they can find suitable brokers, they will win profits easily in forex market. In order to become best forex brokers, brokers have to follow some certain standards. As a result, I will give you some criteria of best forex brokers so that you will be able to choose your future brokers. I will give you a list of top 5 best forex brokers in forex brokers.
- Exness
- HotForex
- XM
- FBS
- FXPro
1. Best forex brokers need to have regulations
In fact, regulation should be followed by forex traders because it can be a best measure of whether the broker is good or not. Brokers cannot obtain regulations if they do not conform to some standards. If your countries have regulations, you had better trade with brokers who have your countries regulations. If your countries do not have regulations, you should opt for brokers who have one trusted regulation. Some trusted regulations are US, UK, AU, JP, Hong Kong, Singapore, and CySEC.
The regulations of aforementioned 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 |
2. Best forex brokers should offer good support team
Forex market has always been a complicated online trading market in the world. Therefore, you should have a deeper understanding of forex brokers. Many brokers offer their traders English language. However, traders sometimes need to have support from their brokers in terms of different languages. Those aforementioned top 5 ECN brokers are now offering different languages, which allow their customers to grasp a profound insight into forex brokers. This is the list of best forex brokers in forex market.
– Exness supports 18 languages 24/7
– XM supports 23 languages 24/7
– HotForex support 27 languages
– FxPro and FBS supports 19 languages
3. Best forex brokers should offer lower trading cost
Lower trading cost can be an important factor that traders always take into consideration when they first come to market. In reality, brokers have to charge commission or spread as their main income. That’s why you need to choose brokers who require lower minimum deposit at the beginning. I want to give you some following advice.
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.
When you first enter forex market, you should consider brokers who offer lower trading cost. The only reason for this is that new traders hardly win any profit at their first trading experience. As a result, it would be better for them to find brokers who require lower trading cost with the aim of experiencing real trading market.
- FBS and Exness minimum deposit is $1.
- XM, Hotforex minimum deposit is $5
It of course is quite important for traders to take those aforementioned forex brokers into account. Due to many years of trading with different forex brokers, I can totally make a list of those five best forex brokers. You should read this article carefully if you want to understand more about those brokers. This is top five best forex brokers in the world.
- Exness: 9/10.
- HotForex: 8/10.
- XM: 8/10.
- FBS: 7.5/10
- FxPro: 7/10.
