Asian Traders, Click Here For The Most Reliable Forex Brokers

It is widely known that Asian forex traders have many disadvantages when they start trading in the forex market. To find a reliable and trustful broker, they have to pay more to the brokers, especially brokers from US or UK. As the result of that Asian markets are not defended by the laws, so Asian brokers suffer more problems than brokers from other parts of the world. While they give to the forex segment 30 % of trading volume- the second largest one, they want to work with brokers that offer the advantages for their trading plan to be more smooth and secured. So, from my experience trading, below I name some standards that traders can criticize which is the best broker for them.

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Reliable Forex Brokers

Licenses or regulations can prove brokers’ credibility

US and UK brokers are thought to be more trustful because they have a lot of certificates. And to get these certificates, they have to be tested and required to pass many requirements. By judging these factors, traders believe US and UK brokers have the stable financial condition and better platform. That is maybe true but it does not mean that brokers from AU, Hong Kong, Singapore or Japan do not have their reputation. The reason is that these brokers mainly work in Asian countries so they do not need licenses from the US or UK a lot to gain trust from traders. Also, the Asian market is the second biggest in the world; therefore, Asian brokers totally can earn their income from the Asian market

And there is one more problem about licenses, which is that too many licenses can cause some difficulties in trading such as low leverage, high spread, and commission fee. That is because brokers with a lot of licenses have to pay more for the fee for organizations or agencies that issue the licenses.

As a result, traders should trade with brokers that are regulated by traders’ countries than by other countries and they should trader with brokers that have just one or two licenses to have good trading conditions and save money. From my point of view and my trading experience, Exness is the one that does not have few licenses but they have a huge amount of clients every month that their trading volume can reach 400 billion dollars per month and become the largest one in the market.

brokers' credibility

The payment system is fast and convenient

Because the forex market is quite a wide run, the transferring is one of the concerns for traders. Best payments often have a little limit on the amount of withdrawal and their system process quickly that clients can have their money in just minutes or seconds, not hours or days. Or even they have local payment systems for clients in order to help the client solve problems immediately. If brokers satisfy these elements they can help clients avoid losing their money because of some other brokers hold traders’ money too long or they do not allow traders withdraw too much at one time.

When it comes to payment systems, I can be sure that supply the best one. They meet all the qualifications above. They have local payments in countries that they have clients and the fee when withdrawing is even zero. Moreover, they have the machine that processes the transferring effectively in the blink of an eye. Their payment service is open the whole week.

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Brokers with high trading volume are more trusted

Review one broker’s trading volume to see how trusted they are. It is obviously right that if one broker has a great deal traded monthly they are trusted and most clients like to invest in them. But, totally they have to have reputation for their business so they can attract more clients than other brokers. And so, do not review by opening account and wait for how they work, if they are liable or not, you should base on the numbers that already show the comment and review. From this, you can know which brokers a big trading amount and the great number of traders.

From my studying, here I show you the top five biggest trading volume brokers

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

 

Besides considering the size of brokers, the trader should see if their trading purposes are well fit or not. Like when traders are scalpers, low spread and commission fee brokers are more suitable for them; long-term traders should go with brokers having low swap, or you are gamblers, you need a broker with high leverage level. So to check one broker’s credibility, you should open for one month three accounts of three brokers to check how they treat you and if they are reliable or not.

No scams, good feedback

In 2015, there is an accident that The Swiss Central Bank had floated CH. then the spread for CFH/USD is 3000 pip- a huge number. And the result is that both brokers and traders had lost a great deal amount of revenue and had been not protected well so they can avoid the risky situations. From this event, traders can derive for themselves a lesson that they should review carefully before trading.

brokers' credibility

And in my opinion, brokers are run than 10 years that are more reliable because they have worked for 10 years and gain their reputation to maintain their business well. That is right that these brokers have fewer scam reports and through the time they prove that they serve their clients very well and help clients go through a lot of circumstances that can cause bad sequences.

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Local services are preferred

If brokers are trusted and famous at one place, obviously they will build their office there to help their clients solve the problems quickly and directly. Any scams or frauds occur, traders will have a place to require them to handle and protect them in any circumstance. Besides, brokers that have their local office are more reliable with the reason that the permission needed to build an office is hard to have. So, if one broker can meet all the checks to have the allowance they are trustful than other brokers

After considering all criteria above I will summarize for you the standards that you need to check before you start trading, and remember these standards are quite for Asian traders but they are quite the same when you trading in the world:

– Regulations/ licenses

– Trading volume

– Payment system

– Scam problems

– Local support

And here are top five brokers that are checked through these standards, they are big brokers, reputable and serve the perfect service with many benefits for traders

  1. Exness.com
  2. XM.com
  3. Forex.com
  4. Saxo Bank
  5. IG Group