New traders often find it hard to choose which brokers are the best for them, I had that problem too. Hence, I write this brief review to help you have a good understanding of what brokers to choose and avoid.
Regulations can show whether a broker is reliable or not and also if you can be protected when trading with that broker. For example, if your country has regulations, you will be protected with brokers that have those regulations. If not, you should look for brokers that have JP, Singapore, CySEC, AU, US, UK and also Hong Kong. They are really reliable regulations.
So what regulations do the best forex brokers 2018 have?
|CySEC, FCA, DFSA, FSB
|CySEC, FSCA, FCA
|CySEC, FCA, ASIC
Good customer service
I guess I don’t need to say how important a customer service is important to not only traders but also brokers. Forex trading is very complex so traders have to seek a lot of supports from brokers. Therefore, many of them look for brokers that have excellent customer services. The aforementioned brokers can offer you with that. They not only provide 24/7 customer service but also provide it in multiple languages as well. And the majority of them have local offices in Thailand, China, Indonesia, Dubai, and Malaysia.
Even if your countries do not have their local offices, don’t worry as you can still get online or phone support in either English or your native languages. Native language support can be crucial for South African or Asian traders who want to work with the best ECN brokers 2018 as not everyone is comfortable in using English. Below are traders that can support you in many languages.
– Exness supports 18 languages 24/7
– HotForex support 27 languages
– FxPro and FBS supports 19 languages
– XM supports 23 languages 24/7
Low trading cost
I guess everyone wants their trading cost to be as low as possible as it can help them get even more profit in the long run. That is why I always recommend paying attention to the trading cost that brokers charge. For those who may not know what commission and spread are, these two are the main income sources of brokers.
Because they acquire US or UK-based regulations, they can’t offer high bonuses or leverage and they are even charged a higher regulation fee. That is why many brokers have to charge more commission and spread.
If you are ASIAN traders, Exness (one of the best forex brokers in Thailand, Indonesia…) is the best brokers for Scalpers.
If you are European traders, XM, FxPro and Exness are the best.
If you are Africa traders, XM and FxPro are the best.
If you are US traders, Forex.com is the best
Why does minimum deposit get a lot of attention from traders? It may depend on what traders aim for. New traders may want to practice trading in real trading conditions with real money, but they only want to invest just a little amount of money because 90% of new traders fail at the beginning of their trading careers. Therefore, low minimum deposit brokers are preferred by many new traders. Moreover, experienced traders also like low minimum deposit because they first want to test the brokers’ feature they want to work with first. For example, they want to test the spread, payment system, etc.…
– FBS and Exness minimum deposit is $1.
– XM, Hotforex minimum deposit is $5:
This is my ranking of the best forex broker from those above criteria:
– Exness: 9/10. You can check out our Exness reviews and Exness accounts for more details
– HotForex: 8/10.
– XM: 8/10.
– FBS: 7.5/10
– FxPro: 7/10.