BRKV - Due to the fact that Asian traders don’t dominate in forex trading world they often meet the difficulties in choosing the most reliable brokers. Based on estimates, they contribute 30% forex trading volume to that of the world. Furthermore, trading forex in Asia doesn’t accept in most countries. This is one of the main disadvantages for Asian traders. If meeting any problems suddenly, most Asian traders won’t be safe. Today with the hope of dealing with this problem I write this article help you be easy and confident in trading. Each broker has points of strong and weak differences. I rely on them to determine a broker is good or not good. Follow me, please!
Here are some standards to choose reliable forex brokers in ASIA:
At first glance, these criterions take after the ones to choose best forex brokers in the world mentioned many articles before. But going into detail you will see the differences. I will share you now. And the following top 5 most reliable forex brokers for Asian traders:
1. Regulated brokers:
Talk about regulations I saw that most people thought US and UK regulated brokers are better because simply they trust US financial management system. If a forex broker can acquire one of these regulations, it means their trading platforms, technical, financial health, and management is fascinating. Especially it isn’t easy to achieve these licenses. I don’t deny this statement but I think not only are US regulations perfect but UK, AU, Hong Kong, Singapore, and Japan ones are also wonderful. But it doesn’t mean that brokers who don’t have US, UK regulations are unreliable or less reliable.
Exness is the largest retail forex broker which I want to mention. Although it doesn’t have US licenses, it is one of the most favored brokers in 2018. The following figure will prove what I have just said. Forex trading volume of Exness last month is nearly $400 billion, and 99% of this volume is from Asia. You can check the data here. It doesn’t have business in US but this figure is remarkable and outstanding.
If you are Asian and Africa traders, I think Exness is the best choice because their spreads and commission are much higher than other continents’ brokers.
(You can read this article to know why: Disadvantages of US regulation).
Some regulations which you can be reliable are US, UK, AU, JP, Hong Kong, Singapore, and CySEC. You pay attention to watching brokers which possess these ones. Personally, Exness always is my best friend in trading. How about you?
2. Top largest forex brokers.
In my life, when I decide to buy or use something, I often think carefully, consider clearly about them. In trading too, I also learn about lots of information related to them. As usual, before investing all funds to a broker, I will spend 1 - 2 weeks to test that broker. Although you can prepare carefully, I make sure that you also make mistakes. That’s why besides testing by yourself, you also need to choose in top largest forex brokers. However, you need to notice the largest forex brokers may not be the best forex broker for you! Each broker possesses their own strengths and weaknesses. This broker is suitable for you but another one is not. All your success depends on your trading strategies.
* You can rely on the following advices to make a decision for you a suitable broker.
- I recommend that if you decide trade for long-term time, you will keep your positions open for some months and should select brokers who have high reliability and have low swap.
- And if you are scalpers, you should choose brokers who are reliable and have low spread/commission, and high quality executions.
- Choose high leverage brokers if you are gamblers.
- For some countries meeting the problem about payment system you have to choose brokers who let you deposit/withdraw by local payment systems. This system provides you a lot of service which is convenient and efficient. You can consult local payment system of Exness here.
So, I think you should do as follow: Create accounts at 3 largest forex brokers, deposit $100 at each, and do the testing by yourself. Let’s trade and after one month. At that time, if which broker bringing many profit and more suitable for you, you choose it. Don’t forget to open accounts in top biggest forex brokers showed the below:
Top 5 largest forex brokers
Exness.com: $400 Billions/month
Forex.com: $300 Billions/Month
XM.com $290 Billions/Month.
Saxobank: $265 Billion/Month
Hotforex.com $209 Billions/month
3. Regional offices:
Now I will share some advantages when your broker possesses offices in your countries. Firstly, I determine whether they be in the list of the largest forex brokers or not. If they have an office in your country, you should be happy to co-operate them because they have high reliability level. Each broker has their targeting countries. Having office in countries means that they are common and favored, so they offer you the best services and the most competitive conditions compared to other brokers.
Moreover, when they have office in your country, they will assist you faster. If there is any problem, you can get support from their offices. It is safe for you when the law will protect everything.
Having office but they don’t become a reliable broker. If you would like to know the reason why I said so, let’s consider the four standards I mentioned below
4. Possessing the best payment systems.
I knew that traders always get our profit and deposited fund quickly. However, I think not all brokers provide for you the best payment systems. Some brokers try to reject our withdrawal if you withdraw too much. The reason for this action of some brokers can be lack of money. As the result, traders worry “Where is their money”. I give advice you don't trade with these brokers.
Here are some standards for good payment system. I hope they are good for you.
- Fast deposit and withdrawal system.
- High minimum withdrawal limitations.
- Low or zero cost for deposit and withdrawal.
- Local payments.
Personally, I select Exness because it leaves all this work for the machine, so the time to perform these tasks is only millisecond. When it comes to withdrawal or transfer time, no competitor in this field is as wonderful as Exness. That’s what I believe. Furthermore, there are many free-of-charge and local payment systems that all are instant and free. It is convenient and easy for you. Let’s open Exness account to make a profit and check Exness Payment system here
5. The last criterion: Good history and no scam reported:
I often choose brokers which are founded for 10 years. I believe that with 10 years these brokers create a safe belief in trading and prove their sustainable development. And I have to know there are any scams claimed. Needing to observe how these brokers solve big annual economic news and how to treat their clients.
For example, Swiss Central Bank floats its CH is an event which occurs in 2015. The CFH/USD was changed over 3000 pips. Most brokers lost. Some traders lost hundreds millions Dollars. You can find details about these events and see how these brokers treated their clients’ loss in the Internet. These are 2 things you consider for a reliable broker.
I have many experiences in trading with these brokers. They always guarantee the above factors and bring for you the best things in trading.
In conclusion, I hope after this article you find out the most suitable brokers. I make sure some information which mentioned before is exact. You can base on them to choose a best friend.
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.