TOP 5 RATED ECN FOREX BROKERS IN 2018

TOP 5 RATED ECN FOREX BROKERS IN 2018
November 05 12:48 2018 Print This Article

In recent years, the number of traders, who come from different areas all over the world, has been trying to choose some standards for best ECN brokers. Nonetheless, the majority of people affirmed that they cannot discover which ones are best ECN forex brokers. Undoubtedly, we can easily know that US and UK brokers are much more trusted than others in the world. One the one hand, they have various good policies that are appealing to many traders in every corner of the globe. Besides, Cyprus brokers, at this point, are providing their customers a wide range of better trading conditions such as: lower spread, lower margin, better trading platforms, better payment systems… In order to determine exactly which ones are best ECN forex brokers, in my opinion, we need to comply with some different criteria. Normally, if we desire to opt for best forex brokers, what we should do is to have a deeper insight into them. In other words, it is highly recommended that we should take some trading strategies and customer services of brokers into consideration. It is a must for traders to investigate their future brokers carefully. Certainly, it would be more risky if a trader does not care about some crucial fields of a good broker. From my personal experience, traders should focus on whatever their brokers are performing, which could be underlying steps so as to traders can know how best forex brokers are. Here are the best forex brokers 2018 in the whole world:

No Broker names Rating
1 Exness.com 8/10
2 FxPro.com 7.5/10
3 XM.com 7.5/10
4 ICmarkets.com 7/10
5 FXTM.com 6.5/10
  1. What are the standards of best ECN brokers?

We should focus much on several aspects which enable us to have a good evaluation on best ECN brokers.

  • Reliable ECN brokers: This aspect is considered to be the most vital key to choose good brokers.
  • Lower trading cost: We need to care about some below elements.
    • Lower spread
    • Lower commission
    • Better payment systems to lower deposit and withdrawal fee.
    • Better rebate.
    • Better bonus
  • Better Trading conditions: Better quotes, developing more trading platforms, lower slippages, better execution speed, lower swap or fee swap.
  • Better local supports.

To be more specific, I will elucidate the reason why these criteria are considered to be key factors of best forex brokers.

The first and foremost important thing that we should take into account is credibility of brokers.

In reality, best ECN brokers must be trusted brokers.

This can be an obvious standard that we can consider best brokers. In fact, the plurality of ECN traders are big, thus they always rely on reliable brokers. They have a tendency to choose trusted brokers in order to make deposits. Coming to reliable ones would be better of use to traders because of their insurance.

How about best ECN brokers?

First and foremost, regulations play a vital role in determining whether or not it is the best ECN broker. At present, traders are easy to be deceived by some unknown brokers; thus, traders should pay closer attention to those regulations of brokers. As a result, it will help traders in trading with future forex brokers.

Now, we should know more about these regulations. What are they?

Regulations are considered to be the most essential factor that all traders should take into consideration before they start trading with brokers. Normally, unregulated brokers always provide traders various benefits which firstly appeal to many traders. However, it is really unsafe for traders when trading with those brokers that can lead to negative scenario. In other aspects, regulated brokers are more trusted and secure, simply because they must conform to regulations that traders can benefit from. Here are some regulations that all regulated brokers should have.

  • Maximum Leverage
  • Quotes quality
  • Broker’s minimum operation fund.
  • Bonus
  • Segregated accounts to protect clients.
  • Advertising messages to avoid misleading for traders…

If brokers want to gain the reliance of their customers, they should have good regulations. Indeed, it is a must-do task for them to comply with some criteria which are regarded as a steady foundation for attaining good regulations. If brokers have trusted regulations, they could be more reliable.

Apart from these positive aspects, brokers also have some negative sides.

In terms of US/UK ECN brokers, they are facing some adverse aspects.

Here are some disadvantageous factors that these brokers are dealing with:

  • High spread and commission.
  • Higher margin requirements.
  • Less trading platforms supported.
  • Less payment methods…

Unquestionably, forex brokers are being tremendously manipulated by these regulations, they cannot offer higher leverage to their clients. As such, the trading volume will be certainly influenced. Regardless of this matter, the income of forex brokers will be significantly diminished. Due to the fact that brokers must pour a big budget into purchasing insurances for their trader’s fund. Furthermore, when they invest money in segregated accounts, they are forced to pay for a higher cost. Obviously, they are not able to make more money, they thus charge more spread and commission. In conclusion, it would be not beneficial for brokers to have many regulations which can not pave the way for their better finance.

It is indisputable that if all traders do not have the insurance and protection of trust-worthy regulations, for example US and UK regulations. They should opt for other suited ones. As a result of these aspects, Asian and African traders should not totally concentrate on brokers that are following US or UK regulations. On account of being unprotected, traders should make a careful decision before they start trading with a broker.

How about regulations?

Having many regulations, in my opinion, would not be helpful for traders because of various negative matters.Despite the fact that regulations hold the most vital role in considering a good broker, they can be great factors to reflect brokers’ criteria. However, if brokers have many regulations, they compel to pay for different cost. It is advisable that brokers ought to have one trustworthy regulation, which highly values the reputation of brokers. From my own experience, a reliable regulation is prerequisite for being a well-rounded broker, this would be a good tool to measure how the best broker is. What’s more, having a trusted regulation means that brokers are pursuing good things. They can display good things that draw traders’ attention, and traders will feel safer.

Look at the table below which shows the regulations of some brokers.

No Broker names Regulations
1 Exness.com CySEC, FCA (UK)
2 FxPro.com CySEC, FCA (UK), DFSA (Dubai), FSB (South Africa).
3 XM.com CySEC, FCA, ASIC
4 ICmarkets.com ASIC (Australia)
5 FXTM.com IFSC

Obviously, what we can see from this table is that all these brokers have at least one trusted regulation such as CySEC, FCA or ASIC. It would be better of use to brokers when having only one regulation because of several reasons.

To illustrate this, here are the largest forex brokers with their trading volume.

  • Exness: $400 Billions monthly.
  • XM: $300 Billions monthly
  • FxPro: $ 100 Billion monthly.

Thanks to these statistics, I reckon that you can grasp the general information. From what I mentioned above, a broker with high trading volume can be the most reliable one. These forex brokers have been existing in the market for 10 years, and having no bad rap about their operation until now. Nonetheless, the number of negative comments related to these large brokers appeared on the internet. From my perspective, all those comments were written by new traders who do not have enough experience on trading systems.

Is there any broker has lowest trading cost in the world?

In today’s forex market, it is often said that US brokers always charge higher spread and commission. The spread of FXCM, for example, is from 1.7 to 2 pip for the most ubiquitous pair of currency, EUR/USD. You can click here to know more about the spread of some brokers that I’ve mentioned above. They often charge lower spreads, which are around 50% lower than US brokers. For ECN accounts, they charge about 0.0xx pip for spread and 5-7$ for each Lot. In this field, the spread of Exness is lowest, only 0.0xx pip. From time to time, Exness only charges 0.0 pip for spread which is a very ideal number for traders. In terms of commission, Exness charges only 5$ per Lot, while ICMarket charges from 6 – 7$, XM charges 6$.

Having trading with US or UK brokers can be seen as a good thing. Yet, if you trade with two these brokers in Asia and Africa, it would be a terrible thing. If I deposit by Credit Card in Asian country, banks will charge me roughly 1.7-4% from my account. Obviously, I hardly have any benefit from this if I pay a big deal of money for deposit. In this case, it would therefore be better to choose ECN brokers with good local payment systems.

Why does Exness have best local payment systems?

I deem that Exness now have the best local payment systems on account of its payment methods. Exness offers over 30 different payment methods which could be a good thing for traders. Furthermore, they are offering various local payment systems which are totally free-charged. More importantly, when trading with other brokers, it will takes you lot of time to withdraw money from your account. Fortunately, Exness can help you to tackle this problem because you will be able to get your money in few minutes. This can be an one-of-a-kind thing that only Exness has.

Is Exness payment system really fast?

In order to unravel this question, we need to focus on one important thing. Exness has been making use of machine so that traders can withdraw money from their account easily and quickly. Everything will be simple if you choose Exness broker. If you want to know more about this.

Why should we know about rebates and bonuses of ECN brokers?

Rebates and bonuses are not a big concern of experienced traders. They are willing to invest a lot of money in their brokers, therefore they are not caring about these aspects. Specifically, spread, swap, payment system, and reliability are crucial factors that they always take into account. On the other hand, two things can be connected to the cost. For instance, when you have 5$ rebate for a lot, you can save around 0.5 pip spread. Therefore, in my opinion, traders will be more interested in trusted brokers that they can benefit from both these things.

Are US/UK brokers offering a lot of bonuses?

The answer is no. they are not allowed to offer bonuses because of stringent regulations. This can completely be a negative element of these brokers.

Why are ECN quotes better?

The myriad of traders reckon that ECN account is the top of their choice. This can be proven that ECN account is more reliable than others. Paradoxically, the majority of them now are using Marker and STP accounts.

How is ECN account?

I believe that lower cost and transparency are two advantageous aspects of this type of account. On the other hand, choosing ECN account would be more dangerous for new traders.

Why these retail forex brokers’ quote are better?

Some traders face the dilemma of whether to choose forex brokers with liquidity providers or others. Yet, it is advisable that we should not. In reality, these liquidity providers will provide quotes by themselves, which lead to unstable status. Nonetheless, five aforementioned brokers do not provide quotes by themselves, they all have quotes from ten liquidity providers. It can be a clever choice when choosing different liquidity providers. Normally, if one liquidity provider has problems related to quotes, they can have other option.

Here are top 3 Best ECN quote brokers.

1 Exness.com
2 FxPro
3 ICMarket

As a result, best quotes mean that they can minimize slippages, gap, and quote problems.

Do five brokers have better trading platforms?

To answer this question, we can look at two popular trading platforms which are MT4 and MT5. However, they are not really good at all because they are not well-matched with some operating systems such as Window Vista, XP. Traders are not able to download these applications, thus the number of brokers needs to created their trading platform which can facilitate the trading process of traders through smartphones.

Why do these brokers support traders better than others?

In fact, the majority of traders are supported online and only English by almost brokers. Nevertheless, these five brokers that are now supporting their customers over 20 languages. they are always available for 24/7 which can be a good point for their clients. It is essential to help traders whenever they have problems. Traders can be attracted by brokers that support them a variety of languages and other supports. It is a better option for traders to come to 5 brokers which are always available to assist them in some urgent situations.

Most of these forex brokers have office in China, Thailand, Indonesia, Malaysia and Dubai.

For the countries that they do not have any regional office, they will support their traders by live chat and phone. You can take a look at here.

– Exness supports 13 languages and 24/7

– XM supports 30 languages and 24/7

– FxPro supports 19 languages

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