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THE BEST FOREX BROKERS IN 2018 RANKINGS

With the experience of two years trading with different forex brokers, many people invite me to advise them on the brokers so that they can begin with the best forex broker in 2018. According to me, it is difficult to say exactly which one is the best. However, I will give you a comparison about them in different features, and then you can select the one that is most appropriate for your trading strategy and needs.


My ranking is based on things a broker provide and ways they take care of traders. The best forex brokers in 2018 are those who give traders profitable trading conditions, best tools and great care. Also, they have good prestige and security. I will select some famous forex brokers to the Asian market like Exness, FxPro, Hot Forex, XM, and FBS… to compare.

1. LOW SPREAD
Since most brokers don’t charge commission, spread seems to be their main income. Spread is the difference between the ask price and the buy price. And of course, the best forex broker in 2018 providing low spread like Exness, FBS, or Hot Forex, whose spread is around 1.1 pips for the most common currency pair, the EURUSD, will be preferred.

2. LOW COMMISSION
Only for regular accounts most brokers don’t charge commission. For ECN account, the spread is almost none for a professional account which many famous traders love. Hence, the best forex broker in 2018 have to charge commission when you trade. In this case, Exness is supposed to be the best one with the charge of only 2.5 USD per lot traded.


3. MINIMUM DEPOSIT
When first beginning, of course no one would like to deposit too much money. However, experienced traders are different. They are willing to deposit a lot, so big brokers like FXCM or Forex.com call for a lot for the minimum deposit, $2000 and $500 respectively. Others for small traders just require a little for the minimum deposit, e.g. Exness and FBS (only $1 minimum), or Hot Forex ($5).


4. HIGH LEVERAGE
Asian traders benefit a lot compared to Western ones. With the strict regulation of the law in the United States, United Kingdom, and Japan, the best forex broker in 2018 there cannot provide low leverage. On the other hand, brokers in Asia can offer very high leverage because their countries don’t apply those regulations.   Let look at some examples:
- Exness: Unlimited leverage for accounts with less than $1000 and more than 5 lots traded. For those over $1000, it is up to 1:2000.
- Hot Forex: up to 1:1000.
- FBS: up to 1:1000.
- XM: up to 1:888.


5. WITHDRAWAL TIME:
Traders are always concerned with the withdrawal time of a broker. It can be shorter to trade with the best forex brokers in 2018 from your country, but they may not be as reliable as international ones. Trading with foreign brokers is more secured and safer; however, you may have to wait very long time to withdraw or transfer money, sometimes up to hours. Hence, you should find the fastest trader in order to follow your trading strategy. In this category, I suppose Exness is a perfect choice because they have the machine do all this work, and the time to perform these tasks is thus only millisecond. As a result, Exness can be said to be the number one in withdrawing or transferring time.


6. REPUTATION
There are many things creating a broker’s reputation, but three things I like the most are the license, the audit, and the search traffic.


- License:
With a license from the outstanding famous agencies such as ASIC (Australia), CySEC (United States), NFA (also United States), FSA (Japan), CFTC (United States), and FCA (United Kingdom), a broker will be always trusted. However, he cannot ensure that he is able to provide traders with best trading conditions (low spread, high leverage, low commission) as he has to pay fees to those agencies.


- Audit:
The best forex broker in 2018 having the auditing of big accounting companies like Deloitte, PWC, EY, and KPMG are really trusty because they can prove the brokers’ accuracy and transparency. I think Exness and FxPro are most trusty since they public all their financial reports and information, and even how much money they possess in the bank.
- Search traffic:
I believe searched brokers will be better because if they are not good, people won’t search for them. Followings are some brokers most searched on the Internet. The result is based on Google Keyword Planner.
XM: 40,000 search/ month.
Exness: 36,000 search/ month.
FBS: 30,000 search/ month.


7. TRADING VOLUME
Knowing the trading volume of a broker? Is it significant?
Yes, it’s very significant because the more traders would like to trade with that broker, the trustier he is. At some levels, a broker is supposed to be safe and trustworthy if there are millions or thousands of traders prefer him. Here is the trading volume per month of several big forex brokers.
Exness: $323 billion/ month.
Hot Forex: $280 billion/ month.
Forex.com: $185 billion/ month.
FXCM: $108 billion/ month.


8. CUSTOMER CARE
Having a good customer service is capital for a broker as almost everyone think that the forex market is really difficult and complicated. New traders always need good advices and instructions. It is better for a good broker to be available for the customers 24/7 and can help them in different languages because not all traders are English native speakers, especially in Asia. The best forex broker in 2018 such as Exness, FBS, FxPro, and XM all provide their clients with awesome customer service (24/7 service, multiple languages).
In conclusion, it is very important to choose an appropriate broker for your trading conditions and tactics when you begin your forex trading job. With some information from my experience, I hope this article can help you make a good decision when you start trading. Though almost big brokers are similar, every single one of them has its unique feature making it outstanding. So you just have to select the one that you think most suitable for you.


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