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5 Most Amazing Forex Brokers Reviewed

By Jonathan Halstead 5 years ago

Some factors should be carried in their thoughts before traders make a big investment for one brokers. So they will not be surprised by some risks resulting from bad trading conditions, payments or less supportive service. As below, I give you my personal opinions and some based on some actual facts of the best forex brokers now:

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

Trading charges

Spread, commission and minimum deposit are the most concerns about trading fee for traders. Especially, big traders who invest a lot will worry that the fees will be raised into a huge amount. Therefore, traders like to open accounts with brokers offer the reasonable fees

Commission is usually known for ECN accounts because spread is zero with ECN account. Therefore, commission will be charged for in the brokers’ income. Exness ECN account is cost the least amount with 2.5 $ only for commission. Apart from that, Hotforex, FBS, XM also cost only 6$ for that number and FxPro with 45$. These numbers are at the lowest level in the market.

Minimum deposit is the other thing for trader to judge. They are most concerned by traders who are starters and who is trying the trading system of the brokers. Both two types of traders do not want to lose more money when they know not well about trading or about brokers’ trading platform. The top forex brokers do qualify this requirement with the minimum deposit as mentioned below:

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

Spread is another important fee that traders want to reduce as much as possible. This fee is counted each time traders execution an order and they have to pay the difference between bid and ask price. So spread that is high will result in high fee eventually. That is why traders just want to trade with low spread fee. Here is the list of the top lowest in spread:

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

Suitable certifications

Some famous financial organizations certificate licenses for brokers and make them follow rules and standards and guarantee that brokers will guard trader as much as they can. That is the reason why brokers with proper licenses gain must trust from traders. So in the way to find out what broker is reliable, traders should look at their certification. In addition, licenses can have side effect on brokers because of the truth that more licenses cost more fee. As a result, traders who trade with brokers with too many licenses will pay higher spread, commission and be given lower leverage. That is not beneficial at all. Then, here is the list of what broker owns what licenses:

  • Exness CySEC, FCA
  • HotForex CySEC, FSCA, FCA
  • XM CySEC, FCA, ASIC
  • FBS CySEC, IFSC
  • FxPro CySEC, FCA, DFSA, FSB 

Helping service

Trading forex is not always a smooth road, which means that there will be trouble that scare traders and as a result, they are in need of a place to get advice from to handle all the difficulties coming around. There the direct interaction like the local service where traders can meet their consultant is always a good idea. Especially, the countries that brokers have their business in there should be installed the local helpers. Moreover, the service is better if they can support by local language. Particularly, Asian traders are not competence with English so they do need to use their language the most. Besides, some excellent services even have the local banking systems to help complete the transferring process quickly and cheaply.

In conclusion, the top most rated brokers that satisfy most of the standards are:

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

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