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3 MOST COMMON STANDARDS FOR THE BEST FOREX BROKERS IN 2018

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There are many standards for the best forex brokers in the market, but according to my experience in many years of trading, I have listed 3 most popular standards, which are explained more clearly as following parts in this article. Based on those standards, this is the list of top forex brokers in 2018 for your consideration:

– Exness: 9/10

– HotForex: 8.5/10

– XM: 8/10

– FBS: 7.5/10

– FxPro: 7/10

Reliable licenses

One thing that traders always consider first is the regulation. It is the license that are provided to forex brokers by trusted financial organizations to manage them and make sure the safety and convenience for traders. There are standards, rules and conditions that brokers have to follow, therefore, the more regulations, the more requirements and limits for brokers. For more details, the spread is higher, the commission is higher but the leverage and bonuses are lower. This makes brokers less competitive than others with better conditions. In short, one license is enough for a broker, such as these trusted regulations below:

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

Low cost of transaction

Cost of transaction includes many factor, but the main ones are spread, commission, and minimum deposit rate.

Spread is the difference between the Ask price and the Bid price, which is calculated in pip. Of course, high spread comes with the high trading cost, traders are tend to work with those brokers with low spread. Following are the spreads of those brokers:

–           Exness: 0.7 pips

–           Hotforex: 1.1 pips

–           FBS: 1.1 pips

–           XM: 1.7 pips

–           FxPro: 1.7 pips

There are mostly 2 types of account in the market: Regular accounts and ECN account. Since ECN account has nearly zero spread, it charges more commission as the main income. Here are some commission rates of the biggest forex brokers in the market:

–           Exness: $2.5

–           Hotforex: $6

–           FBS: $6

–           XM: $6

–           FxPro: $45

Finally, the minimum deposit rate appears when you open an account. Because beginners will lose all the things in the beginning, they should not put much money at this time. This is the time when they practice and learn more about forex market. Moreover, experienced traders like low rate of minimum deposit as they can test their trading strategies and conditions without spending much money. Below are some referred rates for your consideration:

–           Exness: $2.5

–           Hotforex: $6

–           FBS: $6

–           XM: $6

–           FxPro: $45

Excellent customer services

Because forex market is complicated itself, there need to be much help and support from brokers to their customers for both beginners and experienced traders. The best forex brokers should have the great support team to help their clients instantly and timely. They should also have regional offices to support more effectively and conveniently. The service should be online for 24/7 as well and provide many native languages for traders who are not good at English, such as traders from Asia or South Africa. Lastly, they should work and coooperate well with local banks in some countries to reduce the cost for transferring or withdrawing money for traders.

In conclusion, there are the top forex brokers in the market that are highly recommended as below:

–           Exness reviews: 9/10

–           HotForex reviews: 8.5/10

–           XM reviews: 8/10

–           FBS reviews: 7.5/10

–           FxPro reviews: 7/10

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