The most reliable best forex brokers that you could trust

4 secrets to find out the most reliable broker that you could trust

Do you know that Asian traders occupied 30% if the world forex trading volume but receive less protection if there is any problem?

Well, owing to the fact that currency trade is illegal in most of Asian countries, so Asian traders get more drawbacks comparing to the rest of the world.

Hence, choosing a reliable brokers is the first important step that requires the traders to put all their mind in it.

Despite the fact that there are different criteria for reliable brokers in Asia, I would share with you 4 principles and the names of the most 5 famous forex brokers. The principles include:

  1. Good payment systems
  2. No scam reported
  3. Regional office locations
  4. The size of the forex brokers

Why is there no criteria about regulation of the brokers even when it is the most important figure that traders need to take a look before making decisions?

It is because the standard for regulated brokers are explained carefully in this article.  And the top 5 Asian forex brokers are:

  • Exness.com
  • XM.com 
  • Forex.com
  • Saxobank
  • IG Group
  1. Payment systems:

No limit and fast payment system is very important for us, as we are traders so we need to have our profit and deposited fund quickly.

I have seen many brokers trying to prevent their customers from withdraw too much of our fund because they don’t have sufficient available cash for the withdrawal.

As the result, the longer you leave the fund in their accounts, the more dangerous your fund will be. Therefore it is my alarm to you to stay away from those brokers. Good standards for payment systems are:

  • Fast deposit and withdrawal system.
  • High minimum withdrawal limitations.
  • Low or zero fee for deposit and withdrawal.
  • Local payments.

Exness would obviously my advice to you when we come to the criteria of fast payment system.

After traded with various brokers, Exness impressed me with the fastest money transactions as I could get back my fund within few seconds and even during the weekends.

Moreover, their payment system costs you nothing but still finish your transaction within the shortest time. Check for Exness Payment system here.

2. No scam reported

As we have an idiom stated “with age comes wisdom”, I only choose to work with brokers who have at least 10 years’ experience in the forex market and obviously have no scam reported.

For me, a decade is enough for brokers to prove for their ability and reliability.  You could search for a broker’s scam reports or handling problems methods on most of economic news about the forex market.

An example would be about Swiss Central Bank float its CHF in 2015, and the CFH/USD changed over 3000 pips.

This leaded to the loss of many brokers and some of them even lost for hundred million dollars.

You can find details about these events and see how these brokers treated their clients’ loss here. After all obstacles, I am sure about my top 5 reliable brokers for Asian traders:

  • Exness.com
  • XM.com
  • Forex.com
  • Saxon bank
  • IG Group

  3. Regional office locations 

After you have a list of chosen brokers, you should prioritize ones that having local offices in your country.

It does not mean that when these large brokers, who owned valuable regulations, don’t have regional offices in your area so they are not trusty. When large brokers having offices in your country means that national citizens are their target segment and they are already successful within domestic traders.

In fact, brokers must register for licenses and company when they want to open any office in a country, and they also have to follow that government law strictly.

Additionally, having local offices in your area will ensure the fast supporting services from that brokers in case problems occur and if they intend to scam you, you will be protected by the government laws.

Hence, it is better to choose brokers with regional offices in order to protect your benefits from bad brokers.

4. Size of the forex broker:

People usually said when you want to make sure that does a restaurant serve good dishes, look at the amount of the customers they are serving. Why?

Since many people have tasted the dishes and want to come back or introduce to new customers to that restaurant, the food should be good. 

Similarly, whenever I need to make a choice between hundred brokers, I will choose the broker that has the largest trading volume.

To clarify, since many customers have tried and be satisfied with the trading service, they then decided to keep trading with that broker so it helps you to feel more secure with the chosen broker

Even when I also firstly tests the trading service by myself, the problems not often come at the beginning but after few months when I start trading.

So besides from testing the system by yourself, you should take the other traders’ choices into consideration. Here are the largest forex brokers:

  1. Exness.com: $400 Billions/month
  2. Forex.com: $300 Billions/Month
  3. XM.com $290 Billions/Month.
  4. Saxobank: $265 Billion/Month
  5. Hotforex.com $209 Billions/month.

Although this may be true, largest brokers sometimes will not suit to your trading strategies as each of them have their own benefits that they could offer you. 

To be more specific, if you want to become a long term traders and you would like to keep your positions to be opened for some months, so a brokers who are not only reliable but offer low swap could be your final choice. 

Conversely, if you just want to resell your currency pairs for quick profit, you should choose brokers who offer low spread or commission with high quality executions.

Similarly, a gambler should choose high leverage broker, and a person that live in a country with problems with the payment system should choose whom allow the deposit/withdraw by local payment systems.

On the whole, I would advise you to make 3 accounts with 3 largest brokers, each account you will deposit approximately $100. 

Then you observe which one returns more profit to you, and that broker will be the perfect choice for your trading strategy.

But don’t forget, top biggest brokers are always reliable to your trading activities. 

To know more about top reliable brokers please click here

Best forex brokers

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