2 IMPORTANT STANDARDS FOR THE BEST FOREX BROKERS IN 2019

All forex traders want to trade at the best forex brokers! In the forex world, we invest a lot of money in trading and for some people, it is their whole fortune. So, choosing a reliable broker to invest money in is the most important thing to do.

I guess that all traders would search the phrase “best forex brokers” when they were beginners. They found out some big brokers, started trading and changed brokers. Because there isn’t perfect brokers for all traders in the world. Some forex brokers are good for beginners but experts. Some are good for scalpers but long term investors. Some are good for American but Asian!

I know you are confusing and have many questions such as:

  • Standards of best forex brokers for you?
  • Should you choose Dealing Desk or Non-dealing Desk brokers?
  • Should you trade ECN or Micro or regular accounts?
  • Should you choose US, UK or Cyprus brokers?

This article will help you understand deeply about forex broker world. After reading this article, you can analyze and choose the best one for you.

The best forex brokers will be different country by country. So, it’s hard to say which one is the best on over the world. But fortunately, we can use the same standards to define the best one for you.

List of 5 Best forex brokers:

  1. Exness: 9/10.
  2. HotForex: 8,5/10.
  3. FBS: 8/10.
  4. XM: 8/10.
  5. FXTM: 7/10.

 

They must be reliable

We invest money in these brokers so we need to know the best forex brokers are reliable. To decide whether a broker is reliable, we must look at six factors, which are:

  • The regulations
  • The operative history of the broker
  • The scale of the broker
  • Their offices
  • Foundation time
  • The accounts

The first and foremost factor that decides whether a broker is reliable is the regulations it acquires. Trusted financial organizations will give their regulations to brokers in their managing countries or regions if those brokers can meet the standards they set. Some famous and trustworthy regulations are CySEC (from Cyrus), FCA (UK), or IFSC, FSB (South Africa)…

After knowing the regulations, we should look at the past reports of the broker to see if they have ever been reported to be scamming or anything like that. By viewing these reports, we can also see how a broker dealt with those incidents and the way they handled the situation can tell a lots about their professionalism and credibility.

The reliable brokers are usually also the biggest forex brokers. We can check the broker’s trading volume to see how big they are. If they have big numbers, it means that a lot of traders are confident to trade with them. A great number of traders trust them, so why shouldn’t we?

If a broker has an office in your country, it is more reliable. The act of establishing an office in the local area shows that this broker is serious about doing business in your country and they are always available to help you in case of problems. Also, their founding year can be a great clue since the forex market is a pretty unstable. Stronger forex companies can last through time. Lastly, the trusted forex brokers should segregated accounts to protect clients’ funds. If a broker can do that, they are definitely safe to work with.

3 most reliable forex brokers:

  1. Exness: 9/10.
  2. HotForex: 8,5/10.
  3. FBS: 8/10.


They should have a good payment system

Now you know how much the trading will cost you. You then need to take a look at the broker’s payment system, or the depositing/withdrawing system. This is no ordinary buy and sell. You can just give somebody cash and then take the currency pairs. You have to transfer the money via banks or e-wallets. And since you work with international brokers, you now that the transferring will cost you a considerable amount of money. Earning from trading forex is hard already, and now you have to pay more fees? That’s why it is wise to come to those brokers who have excellent payment systems. A good payment system must be cheap or even free (some brokers will cover the fees for you). If the broker works with your local domestic banks, that’s great. Local bank fees are much lower than those of visa or international banks.

Also, a no less important feature of a great payment system is the speed. The forex market is constant changing by seconds and minutes, so you’ll need a broker who can work quickly with your transaction. In addition, they should be available 24/7 and don’t have any amount limitation.

3 forex brokers who have great payment system:

  1. Exness
  2. FBS
  3. XM


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