Nowadays, there are many arising forex brokers beside the old ones, and to search for the top largest brokers is not an easy task, especially with new traders. In this modern time of marketing, any brokers can buy the top position on the search engines - even Google; which makes things harders for trader to find what they need. Based on the following points, we build our list of the top 5 largest brokers 2018 for all to reference:
Services: Execution and Payment System.
Reliableness: Years of operation, Scam History, and Coverage.
Coverage: Regulation, Support System, and Brokers’ Target.
Result: Updated Forex Trading volume and Online Search Data.
Each brokers have its own advantages and particular target. Do your research carefully to find which one is the best for you. Now, let’s begin.
1. Exness
Exness is the largest brokers currently with $395 billion of trading volume last month, the highest. Established in 2008, the name is always on the top favorite list of traders for free withdraw/deposit and the fastest execution speed. The trading condition is unique with the unlimited trading leverage and the special Exness Cent Account (The Cent Account is a live account with low deposit and small trading unit, which is normal offered for new traders to practice by small forex brokers - but Exness.) This is one of the top most reliable brokers with regulation from many countries with large-scale local offices with 18 language support 24/7. July 31 last year, Exness announced its sponsorship with the Spanish football team Real Madrid and its football player Cristiano Ronaldo as individual.
2. XM
A year after Exness, XM enter the forex market and soon become the second largest brokers as the official sponsor of Usain Bolt. Although be the second in the trading volume, and the third best ECN brokers, XM is still the richest with a-million-dollar prize contest recently. This best forex broker supports until 30 languages five days a week with 16 full featured trading platform. XM is also the most famous keywords on Google compare to the others with 40000 search monthly, followed by Exness with 36000.
3. Forex
Humble as its name, Forex goes on top as the youngest forex brokers in this list with 17 years of operation. Forex helps traders with powerful platforms and e-learning interface, which support new traders a lot with the basic knowledge to step on in the currency market. Forex has strong relationships with global banks to improve its payment and other services all around the world. Forex current trading volume is $185 billion.
4. Saxo Bank
This oldest name started from 1992 as bank service, then Saxo Bank climbed up to the forex mountain with its award-winning trading platforms: the best retail forex platform, Integrated charting package, Powerful tools and features. With years of experience in banking, Saxo bank offers competitive trading condition with one of the best protection for traders.
5. FXCM
The second oldest in age, and the first in this list starts the the forex trading business. However, FXCM focuses not only in currency trading but also many other clients with different businesses. Especially, beginning in January 2015, through series of transactions, Leucadia has become the majority economic owner of FXCM with great financial size and strength. With supports from partnership as Leucadia company, the updated trading volume from FXCM is 108 billion US dollars.Note: Top 5 brokers with highest trading volume by month - Updated:
Exness. com: $395 Billions.
XM. com: $320 Billions
Forex. com: $300 Billions
Saxo Bank: $300 Billions
FXCM: $220 Billions.
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FREQUENTLY ASKED QUESTIONS
1. Why should we trade with the largest forex brokers?
The forex trading market is not always stable, and beside reliable brokers, there many scam brokers, which can’t be identify in short time. The top largest brokers have years of operation to prove its reputation. You can also get direct support from their regional offices, or if unlucky things happen, the regulation/law will protect you.
2. What is scam?
Scam brokers produce false signals on large-scale to lie traders. Reliable forex brokers can only be proved by long history with no scam report. “A friend in need is a friend indeed”, and only the trustworthy brokers can grow and become the largest nowadays.
3. Can I believe in the trading volume?
You can. These above brokers financial reports are audited by the Big Four Accounting Firms - with professional network services System. You can Google check it for more information. On the other hand, several brokers have a high total trading volume such as: Forex and Saxo Bank. It is because they also focus on other products like Crypto, Commodities, and Stock beside the foreign exchange market. The total volume is high but Forex volume is lower. For example:
Forex. com: Total trading volume is $500 Billions, but Forex volume is $300 Billions.
Saxo Bank: Total trading volume is $600 Billions, but Forex volume is $300 Billions.
Note: Check the Best ECN brokers HERE.
4. What is the disadvantages if trading with the top largest brokers?
You need to consider carefully between advantages and disadvantages whether or not trading with any brokers. The most important things is to get the fastest support from reliable companion.Advantages:
Reliableness, Regulation/ Protection from Local Country.
Top Services and Direct Support.
Professional Trading System.
Disadvantages:
Your country may not have Regional Office from the Top
No Test account for Real-time Trading (but Exness)
5. Which largest forex brokers should I choose as new traders?
As the America and Western countries go first in the forex market, there are many forex brokers with regulation in the US and European countries. The traders community in the area is big and professional where you can discuss things directly and get the best support. In particular, you are living in US, Forex is the best option as the leading brokers in the US currency market. If you are living in Europe, Saxo Bank and Exness are the best.
If you are Asian/African, or you are traders from the oversea and want to try investing into Asia and Africa, my recommendation: Exness Cent Account. It is because of the following reasons: these areas are Exness targets and it is being success. 30% of the total trading volume last month are contributed by Asian traders. Moreover, there are many regional office and local payment points in these two continents. For other countries, they have online support 24/7, you can get instant response or leave your phone number, they will call you back immediately.
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