Regulations, Trading Conditions, and Support are criteria for all eternity to judge how reliable and worth-trading a broker. Emerged a decade ago, yet until recent years the online broker generation starts to blossom and fire their name, same as the forex market in the Asian region. For that reason, this article is to match the standard criteria with the online brokers, as there are many have placed themselves in the top 10 of the best forex brokers.
Nowadays, digital communications have greatly increased the expansion of international company system including currency exchange brokers. Data transmission are faster than ever with both the global bank system and digital wallet. Realize the opportunity, international brokers appeared. After certain years to prove their trustworthiness, they spread out all around the Earth, from the UK and US, then Europe, Africa, and Asia.
The regulations from the financial association are to verify brokers’ reliabilities and its trading conditions. Thus, more passports are reliable but also the limitation. The open trading field is always risky but also a great chance to earn big. Several brokers focusing purely on one particular forex market. On such occasions, Asian financial association regulations are far better and safer to target-Asian-brokers and Asian traders. Or, it’s fair enough to hold one standard license like ASIC, FCA, CySEC, or NFA.
Easy Trading Conditions
Manage numbers between clients and accounts could be difficult in the past, however, the automatic calculation inventions did troubleshoot the problem, so increase the great number of traders and account options of many brokers. Forex brokers needn’t effort too much to keep clients at the very beginning, but give them numerous chances to try brokers with easy low minimum deposit Cent accounts:
- Exness accounts – no minimum deposit requirement
- FBS accounts – at least 1 dollar as the down payment
- HotForex accounts – requires 5 dollars minimum deposit
Low Transaction Fee
The open field also leads to low transaction costs – the spread and commission fee – that brokers take as the main income. The forex brokers market becomes more competitive to let traders decide. Better service, better trading condition, the easier chance, then more clients one broker has. Let’s check the competition between the top lowest spread brokers – with the most popular EUR/USD currency pair:
- Exness and Hotforex – 1.1 pips
- XM and FXTM – 1.7 pips
Note: Exness is quite special with the free commission trading conditions besides the lowest spread on most of its accounts. Only Exness ECN option has commision fee but zero Spread.
The internet strongly improves the connection between traders and brokers and traders themselves, which helps bump the leverage up much higher. There have the absolute risk and fabulous chance to a huge sack of cash. The old low leverage from the US, UK, and Japanese brokers, who comply with countries’ licenses, are less competitive. The international brokers are more open with:
- Exness – 1 : unlimited (For Cent, Mini, Classic accounts)
- FBS, HotForex – 1 : 1000 (All accounts)
- XM – 1 : 888 (All accounts)
The online generation so better the online support. Check the long list of countries’ flags to know if your language available 24/7. Exness, FxPro, FBS, and XM all have the best team on the post. Besides, local offices and the payment services can be found on their websites. There are many International Banks collaborating with named brokers and traders can get the response in no time.
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Attractive welcome forex bonuses and sounds promotions are the superficial benefits, traders should highly focus on the core. The best ECN brokers never stop improving to serve clients. Enhance trading conditions, create more options, strengthen the support which is more practical for traders’ long-term profit. Stick with them on the train to success. See you next time!