Only Wise Traders Read This Article “Top 5 Best Forex Brokers In 2018”

Only Wise Traders Read This Article  “Top 5 Best Forex Brokers In 2018”

In a complicated market like forex trading market, it is essential for traders to find the best forex brokers to trade with. However, not all of them are able to know what to look at when finding the best forex brokers in the world 2018. Having trading with different types of traders for many years, I have found three most critical standards for evaluating a broker including credibility, trading cost, and customer services. In this article today, I will show you the details of such criteria.

First, let learn about credibility.

To know how reliable a broker is, we usually look at its regulations. Since regulations are issued by trusted financial organizations around the world, the broker obtaining regulations will have the ability to protect its traders. However, if a broker has too many regulations from various organizations, that broker will become less competitive. That’s because the more regulations, the higher spread and commission as well as the lower leverage.  In a nutshell, only one or two reliable regulations are enough for a broker.

Now I will show you top 5 best forex brokers and their trusted regulations:

Broker names Regulations
Exness CySEC, FCA


Second, let me give you some interesting things about trading cost.

Three most significant factors for calculating the trading cost are spread, commission, and minimum deposit rate. Specifically:

  • The most basic trading cost you need to pay for the brokers is spread which is the difference between the Ask price and the Bid price. Spread is measured in pip. The lower the spread, the lower the trading cost. Thus, most traders like to trade with the lowest spread brokers. Following is the spread of the 5 best forex brokers:
  • Exness: 0.7 pip
  • Hotforex: 1.1 pip
  • FBS: 1.1 pip
  • XM: 1.7 pip
  • FxPro: 1.7 pip
  • Spread and commission are the main income of the brokers. For some types of account like ECN account, there is nearly no spread, and thus the brokers have to charge commission. Below are the commission charged by the top 5 ECN brokers for the ECN accounts:
  • Exness: $2.5
  • Hotforex: $6
  • FBS: $6
  • XM: $6
  • FxPro: $45
  • Minimum deposit is what is required to open an account. For beginners, they pay attention to this factor as they don’t want to put too much money in a broker at first because they will easily lose everything. Professional traders care about this factor when they want to try out a new broker. following are the reference minimum deposit rate of the best forex brokers:
  • Exness: $1
  • FBS: $1
  • Hotforex: $5
  • XM: $5
  • FxPro: $500

Final, let talk about the customer services.

Customer services are important, especially in forex trading. Traders will need a lot of help from brokers because they may easily encounter all kinds of problems when trading. Therefore, a good broker is the one that can offer a good customer service as follow:

  • They should have local offices in targeted countries, helping traders face-to-face and supporting in different languages as not all traders are good at English.
  • They should also cooperate with local banks in some countries so that the transferring and withdrawing cost of traders can be minimized.

After all, this is the top 5 best forex brokers based on the above criteria:

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

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