The Best Brokers Chosen By A Highly Experienced Trader

Everyone wants to trade with the best forex brokers possible. But I doubt that everyone can find the best brokers for themselves. There are a lot of standards to consider when choosing one. After many years trading with a ton of traders, I could finally figure out the three important standards: credibility, trading cost and customer services. And from that, I choose these 5 top brokers as the best forex brokers in the world 2018:

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

CREDIBILITY

It is important to identify whether a broker is safe to trade with or not. And I would recommend using regulations to do that because trusted organizations are the one provided those regulations. They will decide merits, standards, and conditions of the brokers that have their standards so that they can ensure traders are well protected under their regulations. But if brokers have too many regulations, it can do more harm than good. Because with a lot of regulations, their spread and commission rates are usually higher and their leverage often has to be lower. And that will cause brokers to be less competitive for traders. Because of that, I would say just acquire 1 or 2 regulations are already enough. Below are the regulations that my top 5 best brokers chose:

TRADING COST

After knowing the reliability of a broker, you should move on to its trading cost. You can calculate the trading costs from a lot of factors, but the most three important ones are spread, commission and minimum deposit rate.
You can understand spread as the difference between the Ask and Bid price. Spread is the most basic and most popular trading cost that traders will be charged and it is measured in pip. If a broker’s spread is high, it means that the trading cost of it is high as well. That is why low spread brokers are always got a lot of more attention from traders. Below are the spreads of the 5 brokers in my above list:
Exness: 0.7 pip
Hotforex: 1.1 pip
FBS: 1.1 pip
XM: 1.7 pip
FxPro: 1.7 pip
Brokers generally offer regular accounts and ECN accounts. For ECN account, they will charge commission instead of spread because those two are the main sources of income for brokers. Below is the rate of commissions of brokers in the largest forex brokers:
Exness: $2.5
Hotforex: $6
FBS: $6
XM: $6
FxPro: $45
Minimum deposit requirement is my last important factor. New traders and also experts pay attention to this factor. New traders pay attention to this factor because they want to invest just a tiny portion of their money to get practice in real-world trading and they know that statistic that most of the new traders often lose all of their investment. For experts, they want low requirement because they want to try new brokers in the market. Below are the list of top 5 brokers with their minimum deposit requirements:
Exness: $1
FBS: $1
Hotforex: $5
XM: $5
FxPro: $500

CUSTOMER SERVICES
Good customer care is always a thing that traders would want in any broker. The main reason is that forex trading is very complicated so that they have to seek a lot of support. Moreover, brokers should establish offices in many countries they are targeting so that traders will be able to access face-to-face support. Moreover, Asian traders are generally not good at English so supporting different languages is also another thing brokers should do. Finally, it is better for brokers to cooperate with local banks in some Asian countries so that traders can save more trading cost in withdrawing and depositing money.
With these factors, I would say the 5 brokers below offer the best customer care:
Exness: 9/10
HotForex: 8.5/10
XM: 8/10
FBS: 7.5/10
FxPro: 7/10

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