It can be a very hard task for new traders to choose the best forex brokers for themselves. Therefore, I would love to help new traders choose their best forex brokers 2018 with this brief review from my own experience.
This is one of the most important standards you should consider. If the country you are living has a regulation, you should choose brokers that have that regulation. But if your country doesn’t have one, you should choose 1 reliable regulation and just 1 is enough. The regulation can be in Hong Kong, JP, AU, US, UK, and CySEC as well. You can trust those regulations.
So which regulations top brokers choose?
|CySEC, FCA, DFSA, FSB
|CySEC, FSCA, FCA
|CySEC, FCA, ASIC
Great customer care
You would agree as customer service is a really important factor in choosing a broker. The main reason is that forex trading is sometimes too complicated for new traders or even experienced traders so they have to seek a lot of bits of help from brokers. Therefore, many brokers like the aforementioned ones are very popular as they offer 24/7 customer care in multiple languages. Moreover, they even have local offices in many Asian countries like China, Malaysia, Thailand, Dubai, and Indonesia.
If they don’t have any local office in your countries, you can still have phone and online support available, in both English and many other languages. Many traders in Asian or South African countries who want to trade with the best ECN brokers 2018 may not speak English really well so they value native language support a lot. You can check out the list below for brokers who you can get help in many different languages:
– Exness supports 18 languages 24/7
– XM supports 23 languages 24/7
– HotForex support 27 languages
– FxPro and FBS supports 19 languages
Low trading cost
I guess every trader would hope for the lowest trading cost because just a little lower trading cost can still earn them a lot of profit in the long rune. That’s why I always suggest everyone to pay attention to the brokers’ trading cost. In case you don’t know what commission and spread are, they are pretty much the main brokers’ income source.
And because of regulations from US and UK, brokers with those have to follow the rules of offering lower leverage and bonuses and paying higher regulation fee. Therefore, they have to make up for those lost by charging higher commission and spread.
If you are Africa traders, XM and FxPro are the best.
If you are US traders, Forex.com is the best
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.
Why many traders care a lot about the minimum deposit? It may be because of their aims. For beginners, they want to trade with real trading conditions and real money but they don’t want to put too much money because 90% of beginners fail at the early stage of their careers. Therefore, brokers with low minimum deposit always stay at the top choice of beginners. But not just beginners want that, experienced traders want it too because they want to test a broker’s features like fees, payment system or spread … before they trade with it.
– FBS and Exness minimum deposit is $1.
– XM, Hotforex minimum deposit is $5:
With the aforementioned criteria, this is my ranking of the best brokers:
– 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.