Nowadays, there are many arising forex brokers beside the old ones, and to search for the best forex brokers is not an easy task, especially with new traders. In this modern time of marketing, any brokers can buy the top position on the search engines – even Google; which makes things harder for trader to find what they need.
Based on the following points, we build our list of the 5 best forex brokers for all to reference:
– Services: Execution and Payment System.
– Trustworthy: Years of operation, Scam History, and Coverage.
– Coverage: Regulation, Support System, and Brokers’ Target.
– Result: Updated Forex Trading volume and Online Search Data.
Each brokers have its own advantages and particular target. Do your research carefully to find which one
is the best for you. Now, let’s begin.
THE TOP 5 BEST FOREX BROKERS (Updated)
Exness is the largest brokers currently with $395 billion of trading volume last month, the highest.
Established in 2008, the name is always on the top favorite list of traders for free withdraw/deposit and
the fastest execution speed. The trading condition is unique with the unlimited trading leverage and the
special Exness Cent Account (The Cent Account is a live account with low deposit and small trading unit,
which is normally offered for new traders to practice by small forex brokers – but Exness.) This is one of
the top most reliable brokers with regulation from many countries with large-scale local offices with 18
language support 24/7. July 31 last year, Exness announced its sponsorship with the Spanish football
team Real Madrid.
A year after Exness, XM entered the forex market and soon become the second best forex brokers as
the official sponsor of Usain Bolt. Although be the second in the trading volume, and the third best ECN
brokers, XM is still the richest with a-million-dollar prize contest recently. This broker supports until 30
languages five days a week with 16 full featured trading platform. XM is also the most famous keywords
on Google compare to the others with 40,000 search monthly, followed by Exness with 36,000.
Humble as its name, Forex.com goes on top as the youngest forex brokers in this list with 17 years of
operation. Forex helps traders with powerful platforms and e-learning interface, which support new
traders a lot with the basic knowledge to step on in the currency market. Forex has strong relationships
with global banks to improve its payment and other services all around the world. Forex current trading
volume is $185 billion.
4. Saxo Bank
This oldest name started from 1992 as bank service, then Saxo Bank climbed up to the forex mountain
with its award-winning trading platforms: the best retail forex platform, Integrated charting package,
Powerful tools and features. With years of experience in banking, Saxo bank offers competitive trading
condition with one of the best protection for traders.
The second oldest in age, and the first in this list starts the forex trading business. However, FXTM
focuses not only in currency trading but also many other clients with different businesses. Especially,
beginning in January 2015, through series of transactions, Leucadia has become the majority economic
owner of FXCM with great financial size and strength. With supports from partnership as Leucadia
company, the updated trading volume from FXCM is 108 billion US dollars.
Top 5 brokers with highest trading volume by month – Updated:
a. Exness.com: $395 Billions.
b. XM.com: $320 Billions
c. Forex.com: $300 Billions
d. Saxo Bank: $300 Billions
e. FXCM: $220 Billions.
FREQUENTLY ASKED QUESTIONS
Why should we trade with the best forex forex brokers?
The forex trading market is not always stable, and beside reliable brokers, there many scam brokers,
which can’t be identify in short time. The best forex brokers have years of operation to prove its
reputation. You can also get direct support from their regional offices, or if unlucky things happen, the
regulation/law will protect you.
What is ‘scam’?
Scam brokers produce false signals on large-scale to lie traders. Reliable forex brokers can only be
proved by long history with no scam report. “A friend in need is a friend indeed”, and only the
trustworthy brokers can grow and become the largest nowadays.
Can I believe in the trading volume?
You can. These above brokers’ financial reports are audited by the Big Four Accounting Firms – with
professional network services System. You can Google check it for more information. On the other hand,
several brokers have a high total trading volume such as: Forex.com and Saxo Bank. It is because they
also focus on other products like Crypto, Commodities, and Stock beside the foreign exchange market.
The total volume is high but Forex volume is lower. For example:
– Forex.com: Total trading volume is $500 Billions, but Forex volume is $300 Billions.
– Saxo Bank: Total trading volume is $600 Billions, but Forex volume is $300 Billions.
What is the disadvantages if trading with the best forex brokers?
You need to consider carefully between advantages and disadvantages whether or not trading with any
brokers. The most important things is to get the fastest support from reliable companion.
– Reliability, Regulation/ Protection from Local Country.
– Top Services and Direct Support.
– Professional Trading System.
– Your country may not have Regional Office from the Top
– No Test account for Real-time Trading (but Exness)
Which brokers should I choose as new traders?
As the America and Western countries go first in the forex market, there are many forex brokers with
regulation in the US and European countries. The trader community in the area is big and professional
where you can discuss things directly and get the best support. In particular, you are living in US, Forex is
the best option as the leading brokers in the US currency market. If you are living in Europe, Saxo Bank
and Exness are the best.
If you are Asian/African, or you are traders from the oversea and want to try investing into Asia and
Africa, my recommendation: Exness Cent Account. It is because of the following reasons: these areas are
Exness targets and it is being success. 30% of the total trading volume last month are contributed by
Asian traders. Moreover, there are many regional office and local payment points in these two
continents. For other countries, they have online support 24/7, you can get instant response or leave
your phone number, they will call you back immediately.
Any qualified forex broker will provide you with a reliable trading platform, 24-hour customer support
during forex trading hours, charting and technical analysis tools, access to quality forex news and
commentary, competent order execution, competitive dealing spreads and a wide choice of currency
pairs to trade. Brokers offering any less than this basic package should not be considered in the selection
of the best forex brokers, since today’s market offers a broad blend of online retail forex brokers for
Synthesized by top4forexbrokers.net