How big can a broker get? Who is the biggest forex brokers? What is the best forex brokers scale? Sometimes traders came across these questions and they just can’t figure out the answers. That’s why today I want to show you the best forex brokers scale in order for you to see if you’re working with the biggest forex brokers or not.
How to rank the best forex brokers scale?
We will rank forex brokers according to their trustworthy level and their trading volumes.
As for trustworthy, the most important thing to look for in a broker is its transparency. The big and famous forex brokers have no problems putting their trading volumes and the names of the companies that performed these audits as well on their website. For those that don’t, I find other ways to determine the trading volume such as using statistic websites, financial news… in order to have an approximation of those brokers’ trading volume.
Why should we trade with these brokers?
The larger brokers are known for their reliability and trustworthy at the cost of a little extra fee, while the smaller, shady brokers often take advantage of your every action to cheat you of your own money. The scamming methods of the smaller brokers aren’t usually noticeable at first and would even take quite a long time for experienced traders to notice that their broker is cheating on them.
Finding scammers from the beginning is difficult
The reason for this is that most brokers, including the largest and legit ones, want to attract you to them by letting you earn more from the start of your trading history. From then on, most people would go overconfident and lose more, if not most of their funds by not thinking straight and not managing their risks. In the long run, the small and scam brokers would find more ways to take your money little by little and most people often don’t recognize this until it’s too late already.
In this day and age, where almost everything is digitalized and can be publicly viewed on the internet, a broker’s history and reviews are no different. All the reliable brokers have overwhelming positive reviews about their services, trading conditions and security while on the contrary, the shady brokers are often flagged as unsafe by their own traders and can’t really survive for so long if they keep doing business that way.
Always pick the locals
Brokers from the US or UK will certainly be excellent for people who live in the respective countries, however, for traders living outside of these countries, you’d want to consider your options more carefully by expanding your criteria such as below:
- Your country may have forex regulations and brokers have to gain those.
- Local payment methods are very important.
Traders who’s currently living in Asia and Africa are advised to choose Exness because it is the best choice for you. Exness targets mainly the Asia and Africa continent and have overall excellent supports for their customers. Their customer cares include 24/7 and multiple language customer support. They’re also famous for their instant transaction and many other benefits.
For traders from Europe, my choices for the best forex brokers scale are Saxo Bank and Exness.
Synthesized by top4forexbrokers.net