WHO ARE 5 LARGEST FOREX BROKERS IN 2018
BRKV - Traders are always advised to trade with the largest forex brokers only, but “Who are the top largest or best forex brokers in 2020” This article will help you find out the answer of this question. Obviously, the largest forex brokers offer their customers better trading conditions and high-quality services. As a result, many traders who expect to reduce failure rate always wish to trade with these the best forex brokers. However, not only the beginners but also experienced traders find it hard to recognize those forex brokers.
Let’s learn more about the best forex brokers in 2020 today.
Despite many years of experience in working with many forex brokers, we still cannot collect enough 100% data to rank the top 5 largest forex brokers. Nonetheless, it took us several month to conduct some research and contact the brokers to create the list of top 5 best forex brokers. We ensure that the result of our research are totally reliable, so you can completely trust this list. In this research, we have consulted a number of online lists which are possibly fake and unreliable because of some convincing reasons. For instance, when searching for: “top largest brokers”, you may find Hotforex, ICmarket, FBS, or FXTM, which are new brokers. Target countries of these brokers are in South East Asia and Africa only, so it is obvious that they cannot be the largest forex brokers.
Here is list of the 5 best forex brokers in the world:
You should know that this list is based on Forex trading volume only, so those big brokers who have low monthly forex trading volume won’t be listed.
Exness.com: $395 Billions. Click here to learn more.
XM.com: $320 Billions
Forex.com: $300 Billions
Saxo Bank: $300 Billions
FXCM: $220 Billions.
1. Why forex traders should choose the largest forex brokers:
Even for experienced traders, the forex market is sophisticated and dangerous. Every traders can be defrauded by professional scammers. By playing complicated and dirty tricks, scam brokers can easily steal trader’s money. Sadly, it was not until traders lost all their money that they realized brokers deceived them.
Why traders cannot identify a scam broker at the beginning?
Unfortunately, the problems won’t usually happen at the early stage of trade. In fact, the more money you deposit, the more money scam brokers can exploit from you later. Therefore, the brokers will offer you favorable trading conditions to make traders relax their guard and invest more money. Even when you trade with non-scam brokers, you also tend to win at the beginning, because you usually follow risk management right from the start. Thanks to the development of forex trading market, more and more brokers are established. As a result, it is increasingly difficult to avoid scam brokers.
You are not scammed, if you trade with the largest forex brokers.
It was not until we lost money that we knew the broker was a scammer. The largest forex brokers have done business with thousands of traders. These traders will usually post and share their business experience with the brokers on the Internet and social media. If there are any scams, you can receive the information of this scam immediately. Nowadays, we are living in a “flat world”, so you can take advantage of these review to check reliability of the brokers that you intend to trade with. Thanks to the Internet, all scam broker will be exposed. Therefore, only reliable brokers can develop and become the largest forex brokers. For example, Exness is one of the biggest forex brokers and is highly prestigious. You can click here to learn more about Exness’s transparency.
2. How to recognize the largest forex brokers?
You can find the trading volumes published by some broker. Obviously, only trading volumes which are audited by top 4 audit companies in the world are trustworthy. I strongly encouraged you to trade with the brokers whose trading volume are clear, because they are very reliable. You should trade with transparent brokers in order to keep your fund safe. On the other hand, some brokers don’t publish their trading volume. To check transparency of these brokers, I used some trusted resources such as statistic websites, financial news, and newspaper.
In spite of low forex volume, some big brokers such as: Forex.com and Saxo Bank have very high total trading volume. It is because they provide many products like Crypto, Forex, Future, Commodities, and Stock... Consequently, their Forex volume is much smaller than the total volume.
Example:
Forex.com’s total trading volume is $500 Billions, but Forex volume is $300 Billions.
Saxo Bank’s total trading volume is $600 Billions, but Forex volume is $300 Billions.
Learn more about Exness review now.
3. Traders should do business with the largest forex brokers:
Most brokers in the above list are American and European brokers. This is a good news for those living in those regions. But what if you live in Asia, Africa, and Australia? There are some factors you need carefully check before trading with these forex brokers, even though they are all reliable forex brokers. But we need to check more things like:
Whether they are regulated in your countries.
Local payment systems
Local support
Exness is smart choice for Asian and African traders
Exness targets mainly at Asian and African countries. Their payment system is very suitable with traders living in these regions. You can deposit and withdraw instantly and free, while other Asian brokers which don’t have local payment system will charge you from 1.7- 4% of your deposit fee. Exness’s offices has been established in most big countries such as: China, Indonesia, Thailand, Singapore, Malaysia, Cyprus, South Africa, India and Dubai. Exness will offer their customer living in those countries online 24/7 support services. It means you can get instant responses from their live chat. Or just leave a phone number and they will call you back.
Read more about Exness Cent account, the best choice for beginners.
If you are living in US, you should trade with Forex.com. They are reliable and leading in the US market.
If you are living in Europe, Saxo Bank and Exness are perfect choice.
If you want to know whether you should trade with US, European brokers or not, you should read this article: Best forex brokers for Asian traders.
Here is the list of 5 largest forex brokers for you:
Exness.com: $395 Billions.
XM.com: $320 Billions
Forex.com: $300 Billions
Saxo Bank: $300 Billions
FXCM: $220 Billions.
Hey there, this is Fanara Filippo. I'm the author of this article and i'm currently collaborating with Brokerreview.net, or BRKV in short. My articles are mainly for forex traders from Thailand, Indonesia, India, Bangladesh, and South Africa.
