Many brokers have appeared every day and not all of them are good to start with. Traders are among many choices of brokers. Therefore, in today’s article. It’s time to take an overall look and decide what we need about brokers. There are some certain factors to investigate before you decide which is the best forex brokers. Here are what to consider:
Regulation is the basic to tell if the broker is trustworthy or not. However, do not take it so seriously. How many regulations is enough?
In common sense, the more license brokers have, the better they are. However, a reliable license is perfect. It’s not that all regulations are the same. They are credited by different organizations and they target at a specific market segment.
A US regulation may be not as good as CySEC for Asia even though, we all believe that US licenses are tough to get and they are all reliable.
You have to look at your conditions to decide which regulations are good for you. And too many licenses cause many limitations as brokers have to follow strict terms to get that approval.
Trading cost is pretty much to consider. Because it decides your lost and gain. At first, you might hesitate to put so much money on brokers while not much of them return. While many brokers ask for 500$ and a grand to deposit. Some require much less. Such as FBS, Exness…
During your trading time, brokers will ask you to pay the transaction cost. It might be on the spread or by the commission. If you trade with ECN, do not pay attention to spread which is nearly zero. ECN brokers collect transaction cost by the commission. If you are a long-term investor, brokers ask you to pay commission, too. The commission is much more stable and you can calculate your business better. If you are scalpers. The commission might be not a good idea. A low spread is a target. Spread changes time to time then you can benefit the low spread. Among brokers, Exness provides the lowest spread of 1.1 pip (EUR/USD). It is one of the best forex brokers for beginners.
It’s the decisive factor to keep your eyes on.
My advice is to choose brokers with the local offices. More importantly, they have staffs speak your language. Why is that? Because that’s how you get support to the fullest. You can struggle with account registration or you might have some complaints about their withdrawal policies. The fastest way to signal their attention is face-to-face conversations. Thus, they should have offices nearby so you can visit. It’s more reliable, in addition.
Moreover, not all traders can speak English. How could they reach comprehensive guideline without a native staff? Exness, XM, Hotforex are the best forex brokers in Thailand, Indonesia, Vietnam, and Malaysia…
After considering these factors, we pick the best forex brokers with the nicest customer service and sound conditions.
– Exness: 9/10.
– HotForex: 8/10.
– XM: 8/10.
– FxPro: 7.5/10.