All traders, when first entering the forex market, will always inquire about top largest forex brokers or the most reliable brokers. That’s because they all want to find a good one to trade with. However, recognizing which one is perfect is not easy for beginners, and even for experienced traders.
Getting the experience of trading and working for some forex companies many years as well as a long time of researching about this field, I write this article with the hope of helping you get more awareness of top biggest forex brokers. Sometimes, you search the Internet about “top largest forex brokers” and find the list of Hotforex, ICmarket, FBS, and FXTM. This list is incorrect because these brokers’ target market is only in some countries in South East Asia and Africa.
Below is the list of 5 largest forex brokers in the world based on the forex trading volume for your reference.
- com: $395 billion.
- com: $320 billion.
- com: $300 billion.
- SaxoBank: $300 billion.
- FXCM: $220 billion.
Come back to the title “The secrets of top 5 largest forex brokers in 2018”. Here, I would like to emphasize some more things about these brokers that you may not know. Now let go through this article to find out what these “secrets” are.
- WHY SHOULD WE TRADE WITH THESE BROKERS?
Trading with them will be safer and prevent us from scam brokers. As you may know, the forex market is really dangerous and complicated. There, scam brokers can cheat you and steal your money anytime, even though you are experienced traders. They will let you win more at first so that you will deposit more after that, and then they can get more. Hence, be careful if you win too much at the beginning. Note that the more you win, the more you will be wild. That’s one of the reasons leading to your loss.
- ARE THEY SUITABLE FOR ALL TRADERS?
As you may see, the above brokers are US and European ones, so they will be good choices for you in case you live in these countries. If you live in the rest of the world, you ought to trade with others because these brokers only provide best services for those living in their countries.
Those living in Asia, Australia and Africa should choose Exness as its payment system is very remarkable. You can deposit or withdraw your money instantly with no charge at all. Additionally, it has local offices in some big countries like China, Indonesia, Thailand, Singapore, Malaysia, Cyprus, South Africa, India and Dubai. It also supports online 24/7 by live chat or phone for other countries.
For those living in US, Forex.com is the best choice for them as it is the leading broker in the US forex market.
For those living in Europe, there will be two choices for them: Saxo Bank or Exness.
- WHAT CRITERION CAN WE USE TO RANK THESE BROKERS?
There are lots of criteria for ranking them, but the leading one is publishing the trading volume. Do you know why? That’s because the clearer and trustier the trading volume is, the more transparent the brokers will be. It means that those brokers won’t cheat you, so your money will be safer. There are also some brokers don’t publish their trading volume. In this case we can consult the figures on several reliable resources such as statistic websites, financial news, and newspaper.
Sometimes, big brokers like Forex.com and Saxo Bank offer higher trading volume but lower forex volume as they have to provide lots of products such as Crypto, Forex, Future, Commodities, and Stock.
- com: total trading volume is $500 billion, but forex volume is $300 billion.
- Saxo Bank: total trading volume: $600 billion, but forex volume is $300 billion.