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WHO ARE THE BEST FOREX BROKERS IN 2018? DISCOVER NOW!


It’s necessary for traders to find the best forex brokers to trade with. But a lot of traders don’t know how to point out the right brokers to partner up with. In my opinion, we need some popular standards to evaluate the best forex brokers among hundreds of brokers. I always follow some standards: credibility, trading cost, and customer services after many years of trading with several brokers. Let’s take a glance at the best forex brokers in the world 2018 and go into detail about standards:

– Exness: 9/10

– HotForex: 8.5/10

– XM: 8/10

– FBS: 7.5/10

– FxPro: 7/10

CREDIBILITY

No traders want to take a risk of trading with brokers who they don’t believe in, so safety is considered as a matter of priority. The tool to determine the credibility of a broker is the regulations. Regulations are licensed by trusted financial organizations in the world. They decide the standards, merits, conditions of a broker to protect all traders from any risk of trading.

If a broker has many regulations, their trading conditions will be affected. For further details, their spread will be higher. Their leverage will be lower. Their commission will be higher. This leads to the reduction in competition when it’s compared to others. The broker with one or two trusted regulations from a reliable organization is enough. The following brokers with such famous and trusted regulations will be listed here.

Broker names Regulations
Exness CySEC, FCA
HotForex CySEC, FSCA, FCA
XM CySEC, FCA, ASIC
FBS CySEC, IFSC
FxPro CySEC, FCA, DFSA, FSB

TRADING COST

Trading cost is taken into consideration because it will affect traders. Traders want to be offered a low rate of trading cost. Trading cost is calculated from various factors, but the most important ones are spread, commission, and minimum deposit rate.

Spread is defined as the difference between the Ask price and the Bid price. It’s the amount of money you have to pay for the brokers. Spread is measured in pip. If the spread is high, the trading cost is also high. Hence, all traders prefer to partner up with the brokers offering the lowest spread. Here is the spread of the 5 best forex brokers:

  • Exness: 0.7 pip
  • Hotforex: 1.1 pip
  • FBS: 1.1 pip
  • XM: 1.7 pip
  • FxPro: 1.7 pip

Regular account and ECN account are widely popular with traders. ECN account’s spread is nearly zero. Therefore, the broker has to charge commission instead of spread, since spread and commission are the main income of brokers. Here is the commission charged by the top 5 ECN brokers:

  • Exness: $2.5
  • Hotforex: $6
  • FBS: $6
  • XM: $6
  • FxPro: $45

The minimum deposit is required to open an account. New traders don’t tend to invest too much money in a broker because they know that 90% of them will lose in the beginning. Professional traders want to collect new brokers so they take the minimum deposit into careful consideration. Here is a list of the minimum deposit rate of those brokers:

  • Exness: $1
  • FBS: $1
  • Hotforex: $5
  • XM: $5
  • FxPro: $500

CUSTOMER SERVICES

Let’s imagine that when you jump in trading without any help from brokers. You will be confused and difficult. A lot of problems will arise when you trading and a prompt support will be highly appreciated.  Also, they should have local offices in targeted countries so that they can help traders face-to-face 24/7.

Also, English is not native to Asian traders, so it’s more convenient if brokers support their customers in English and in native languages. Finally, they should have cooperation with local banks in some countries for the purpose of minimizing cost of the transferring and withdrawing of traders.

In a word, here is the top 5 best forex brokers followed by typical standards.

  • Exness: 9/10
  • HotForex: 8.5/10
  • XM: 8/10
  • FBS: 7.5/10
  • FxPro: 7/10

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