US traders always want to trade with the most reliable and trustworthy broker, however, it’s still quite difficult to give a conclusive answer as for who is the best broker since the answer itself varies from person to person. One broker who’s the best for you might not be that good for someone else and vice versa.
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Nevertheless, in this article today, we’re going to share with you our top 5 largest forex brokers in 2018 which was rated largely based on trading volumes. It took us several months to gather enough information to properly make this list. We have tried giving reference point to other websites but we figured that the reviews out there on the internet are mostly fake. Most of them are written by people who are clearly not a forex trader, thus making their articles seem like a pure way to advertise the recently famous brokers. For example, most of them are about brokers such as HotForex, ICMarket, FBS or FXTM whose name are only recently recognized and known for targeting exclusively South East Asian and the Africa market. However, since not everyone is perfect, we may be wrong too and you should take our professional opinion with a grain of salt.
Here is our updated list of the top forex trading brokers in the world based on their month trading volumes:
- com: $395 Billions.
- com: $320 Billions
- com: $300 Billions
- Saxo Bank: $300 Billions
- FXCM: $220 Billions.
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Which standards to rank the largest forex brokers?
As we have mentioned above, in this article, we’ll be reviewing some of the top largest brokers based on their trading volume. A broker that has high trading volume should be quite trustworthy and has more to lose than those without so we should be feeling a little bit more assured when doing business with these ones. As far as we know, most top brokers out there publicly announce their monthly trading volumes as well as the name of the accounting company that did the auditing job to ensure the validity of those trading volume reports. For any broker that doesn’t publicly announce their trading volume record, we had another way of figuring it out which is to use statistic websites, or the news might mention some bit about it.
Moreover, you should also note that there are some brokers that have impressive numbers of total trading volume and low forex trading volume at the same time. This is due to the fact that these brokers provide a wider variety of products such as Crypto, Forex, Future, Commodities, and Stock…
Examples:
- 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.
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Why should we trade with these top forex brokers?
Most of the top brokers didn’t become one of the largest forex brokers because of good marketing. The majority of top brokers have over 7 years in the forex trading business without being involved in any official scam, so that must make that trustworthy to some extent. However, you also shouldn’t choose a broker solely because it’s one of the top ones. To choose a broker, you need to carefully consider many aspects such as location, trading conditions and your trading style/trading tactic. There’re also the smaller, shady brokers who would try to cheat on your money at every chance they get.
Why is it hard to identify a broker as shady at the beginning?
The majority of brokers, even the top, larger ones, all try to lure you in the forex trading market by making you win fairly more at the beginning, thus making you feel overconfident and thinking that forex trading isn’t all that bad. Well, forex trading should be hard for beginners but from the broker side, they want to make it looks easy so that you could lose more money to them. The benefit of trading with the top brokers is that you could have better trading conditions as well as feel more secured and protected. The smaller, shady broker won’t try to scam your money at first but only at the following months, after you’ve settled in and feel that this broker isn’t so bad. Most people don’t really recognize that they’re slowly losing money by doing business with shady brokers until it’s already too late to come back from the losses.
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Choose brokers suitable for your location
For people who’re currently living in developing countries, local payment support sometimes can be a mandatory aspect when it comes to choosing a broker. That’s why for people who have problems with payment methods, you should also check some extra things when you’re choosing a broker such as:
- Whether or not they are regulated in your countries.
- Supports for local payment.
For people who’re living in developing continents such as Asia and Africa, we would suggest Exness to be your best broker since they offer excellent support in multiple language as well as supports for local payment. Exness is also famously known for their advanced payment system, which makes every transaction processing time to last no longer than 2 seconds.
If you are living in Europe, I consider Saxo Bank and Exness to be the best brokers that you could choose.
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In conclusion, let us quote our list of the current top 5 largest forex brokers in 2018 again. We hope that after this article, we’ve helped you choose your broker to start your forex trading career with.
- com: $395 Billions.
- com: $320 Billions
- com: $300 Billions
- Saxo Bank: $300 Billions
- FXCM: $220 Billions
