Jan 03 2022 6

How can you be one of the most successful forex traders in the world? Well, let me tell you. It’s not that difficult. You just need to follow risk management, gain some experience, and trade with the best forex brokers. After a while, you will surely be one of the best forex traders. As my experience, the following top 3 should be the best brokers to work with:

  1. Exness: 9/10 >> Learn more here
  2. XM: 8.5/10 >> Learn more here
  3. Hotforex: 8.5/10 >> Learn more here

learn to trade

CREDIBILITY

If you are a trader, how a broker can get your trust? Or in another word, which factor you will base on to consider whether a broker is reliable? Regulation is the answer. For traders in US or UK, they have many choices of brokers, but it is another story in other religions. The forex trading is still not legal in Asia and Africa as examples. So regulation is considered as the card which can protect traders in the game. 

One or two licenses from authorized organizations are enough for a broker to be trusted. Lots of regulations from various organizations does not make brokers valuable or reliable, in the opposite, it can be the reason for the higher cost. For that reason, traders should think about the quality, not the quantity. Check my best brokers' regulations here:

  1. Exness Check regulations
  2. XM Check regulations
  3. Hotforex Check regulations

TRADING COST

Clearly, I have chosen randomly without evidence. The above result is based on how much the best brokers can meet standards. One of the standards which are the most essential to sort brokers is the trading cost.

What is the trading cost? It is the simple fee for every transaction of traders. In order to optimize benefits, you should choose brokers who offer a good rate. The profit you can get for every lot traded, it is silly if you have to spend a half or more for only transaction fee. That’s a reason why the most successful forex traders prefer brokers who have systems linked to local banks so that the transaction fee is cheap.

Mentioning to the trading cost, we have to talk about the spread, commission, and minimum deposit. Those are the main income of brokers. If those are high, it means your profit will be low. So the low trading cost is always the best choice. See the table below for your comparison:

Brokers Spread Commission Minimum Deposit
Exness 0.7 pip $2.5 $1
HotForex 1.1 pips $6 $1
XM 0.8 pip $6 $5

Accordingly, the spread, commission, and minimum deposit of them are much lower than other brokers in the same field. 

CUSTOMER SERVICES

Business is customer service, and the winner is the one who understands and satisfy customers. It is extremely true to the forex trading. No support, no customers. Here, customer services mean support anytime and with all possible ways like face-to-face conversations, phone call, and chats on the website. The low trading cost and trusted regulations cannot keep brokers survival if their customer services are so bad. Customers are ready to pay a little higher to be pleased, they never accept to be disappointed and mad due to no support or bad assistance. 

After all, this is the top 3 best forex brokers based on the above standards:

  • Exness: 9/10 >> Learn more here
  • XM: 8.5/10 >> Learn more here
  • Hotforex: 8.5/10 >> Learn more here
author

Mario Draghi

Hey, I’m Mario Draghi. I’m a writer currently resided in Thailand. For my forex experience, I have been working with brokers and trading for 5 years. Hope that you'll enjoy my articles about all forex-related matters.


Related Posts
forex-candlestick-patterns

HOW TO READ FOREX CANDLESTICK PATTERNS - EASY AND SIMPLE

forex-trading-scams

7 SIGNS OF FOREX TRADING SCAMS BEGINNERS MUST KNOW

do-big-and-trusted-forex-brokers-allow-scalping

DO BIG AND TRUSTED FOREX BROKERS ALLOW SCALPING?

reversal-candlestick-patterns

TOP 15 REVERSAL CANDLESTICK PATTERNS


6 Comment

Astratearl

May 01 2020

Pretty useful info. To expand knowledge on this topic

reply

Jackmile

Apr 10 2020

Trading is awesome but a lot of people are ignoring it, trading has given me a very good opportunity with my account manager i have made millions

reply

Fausto

Apr 10 2020

Appreciate your share and knowledge, BRKV!

reply

Claudia

Jan 22 2020

Hello, the whole thing is going nicely here and ofcourse every one is sharing data, that's actually excellent, keep up writing.

reply

Nevaeh Nora

Sep 27 2019

What is the secrets to become a successful trader?

reply

Glenda

Sep 27 2019

How can I become a successful trader?

reply

Leave a comment