Every trader want to trade with the best forex brokers which have superior trading conditions and help them earn more money. In this article today, I would give you an overview of the most popular forex brokers as well their main features such as regulations, trading cost and support team.
This is one of the most important features that brokers should have so as to protect their clients. Supposing that your country have regulations, you should trade with brokers who acquire your countries regulations. On the other hand, if your countries don’t have any regulation, you should choose brokers who have 1 reliable regulation. This regulation can be US, UK, AU, JP, Hong Kong, Singapore or CySEC. To be more precise, you can find the information in the below board:
|2||HotForex||CySEC, FSCA, FCA|
|3||XM.com||CySEC, FCA, ASIC|
|5||FxPro||CySEC, FCA, DFSA, FSB|
Great customer service
Traders always need as much help as possible and a good broker must have good support team. The brokers I have mentioned above all offer first-rate customer service such as 24/7 and multiple language support. Most of them have their own branches in Asian countries including Thailand, Indonesia, China and Malaysia. What about other countries that brokers don’t have regional offices? They provide support online and through phone in English or your native languages. Here is the list of brokers that support different languages:
|1||Exness reviews||18 languages 24/7|
|2||XM reviews||23 languages 24/7|
|3||Hotforex reviews||27 languages|
|4||FXPro reviews||19 languages|
|5||FBS reviews||19 languages|
In my opinion, Exness and XM have excellent support team.
Low trading cost
Since low trading costs can add up to quite much money after a long trading time , all traders want the trading costs as low as possible. Therefore, it’s also necessary to constantly concerned with the trading costs of your broker.
Owing to the weakness of their regulations, US and UK regulations don’t allow them have high leverage or bonuses. They also have to pay more for the regulation fee. For this reason, they have to charge more spread and commission.
If you are US traders, Forex.com is suitable for you. If you are in Europe, XM, FxPro and Exness are highly recommended. If you are Africa traders, you can choose to trade with XM and FxPro. If you are Asian traders, creating Exness accounts can be good choices, especially for Scalpers.
The minimum deposit
The minimum deposit is up to the aim of the traders. Some beginners just want to practice trading in real conditions without putting too much money. As a result, they need a forex broker that requires very little deposit. Besides, the traders who have experiences need to test the features of a broker such as the spread, the execution speed, payment system, fees… before working with them and they also don’t want to deposit much. For example, FBS and Exness minimum deposit are the same, which is $1. These amount of XM and Hotforex is $5.
Brokers also offer many different types of accounts which depend on purposes of traders.