Which broker is the best forex broker in 2018?

Choosing the best forex broker is the key to successful trading.



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BRKV When I say the best forex ECN brokers, I actually mean the ECN accounts of those brokers. People are so used to the term ECN brokers that I will use it from now on. Thebest forex brokershave different types of accounts that suit different levels of forex traders. The regular accounts are for beginners and experienced traders while ECN accounts are for experienced traders or experts only. So you should only trade ECN account when you think youre experienced enough in the forex market.

Why is ECN account for experienced ones only? Because ECN account is highly fluctuated, has high slippages and unstable quotes. Only traders with experience can deal with these trading conditions. The only advantage of ECN account is that it has very low trading cost and you get to trade in the real market. Sometimes the spread can be as low as 0, so experts want to take advantage of this to make more money.

So what makes a good ECN broker? Lets walk through the features of an ECN account again. ECN account has high slippage and unstable quote. Also, it has commission because brokers have to charge commission for it since they dont make anything from spreads. Therefore, to be among the best, ECN brokers must meet these standards:

Let me explain why these standards are important for ECN brokers.

The best ECN brokers 2019 must be reliable brokers.

The best ECN brokers 2019 charge lowest trading cost.

What is the trading cost of the best ECN brokers?

The best ECN brokers 2019 must have good trading platforms.

Which one should we choose, dealing desk or non-dealing desk?

The best ECN brokers 2019 must be reliable brokers.

Because ECN traders often deal with large amount of money, a brokers trustworthy is without a doubt the most important criteria since you can only deposit thousands of dollars to someone you can trust.

The answer is actually very simple. Its theregulationand that brokershistorical activities. A brokers validity is based on whether they have a regulation or not, and the regulation itself must be confirmed its validity as well as coming from one of the more trusted agencies such as FCA, CySEC, NFA

Regulations are provided by the financial organizations whose purpose is to safeguard the general public, which consequently makes obtaining a regulation become a challenging and difficult mission for forex brokers.

A regulation would limit a broker in a lot of aspects in exchange for the security as well as their services. To name a few limitations that a broker would have to deal with, there are:

As for us traders, doing business with a broker that has one or two trusted regulations always feel more comfortable and safer than doing business with brokers that have none. Although for trusted brokers, their trading fees might cost a little bit more in exchange for the better service and security. This is due to the fact that the aforementioned organizations charge their brokers a large amount of fee in exchange for their service as well as reputation, so in order for brokers that have regulations to make a profit, theyd have to charge their customers more by making their margin requirements higher or charging higher spread and commission and so on.You can find my article trusted brokers that havethe lowest spreadto get more information.

I think we can all agree that a regulation should always be healthy for any broker. It shows that the broker cares enough to put up with the downside of a regulation to provide their customers overall better service and safety. However, one regulation in my opinion should be more than enough most of the times. Owning two or more regulations would indirectly put a lot more costs on their customers by making them pay more to cover for the regulation fees.

When you trade with the best ECN brokers, you dont have to worry about their spread. ECN brokers have very tight spread since they work with many liquidity providers, and sometimes, their spreads can be none. Well, then you only have to pay attention to the commission. Due to the low spread rate, brokers have to charge commission for ECN accounts as their main income. And I know the brokers from my list charge the least. Here are the commission rate of my best ECN brokers:

You can see that FXTMs commission rate is lower than that of Exness, but I still rank it last because Exness spread is way lower than FXTMs rate.

A good ECN broker must have a good trading platform. The best trading platforms are the ones that have fast servers, can close and open orders instantly. Since ECN is not very stable, the spreads, and quotes will change in seconds. Thats why you need a good trading platform. All three brokers I mentioned have great trading platforms. I hardly encounter any errors when trading with them.

Needless to say, customer service is one of the most important when doing business since business is all about people, trust and profit. Not to mentioned that the whole forex trading market is a rather vast and complicated place that the beginners/new traders sometimes find themselves lost. They are almost always in need of professional help as well as advices on how to make money safely.

The aforementioned brokers all have excellent customer service including 24/7 and multiple language support. Most of them have their own branches in China, Thailand, Indonesia, Malaysia, and Dubai

For countries that dont have regional offices, they offer support online as well as via phone in English or your native language. The language support is very crucial to traders who want to work with ECN brokers in South Africa or Asia because those traders may not be very good at English. Here is the ECN brokers list of those who can help you in different languages.

BRKV While this might not be that big of a deal for US and UK traders since most of the brokers there have relatively good payment system. As for Asia and Africa, however, most of the brokers payment system are quite bad and in need of a lot of work. I myself am from an Asian country and the banks here would charge 1.7 to 4% alone just for depositing in my Credit Card, which just makes no sense since its already hard for us traders to earn even 5% monthly. Therefore, I think that its very important for you to choose an ECN broker that offer local payment system or just overall excellent payment system.

As for my professional opinion on which broker should you choose based on their payment system, I personally find Exness to be the best in this area. Exness offers over 30 different payment methods as well as free of charge local payment support. Furthermore, Exness offers their own fully automatic transfer/withdrawal system which I find a lot more efficient as well as advanced compared to the other brokers. While it might take you hours or even days to transfer/withdraw money in other brokers, the transfer/withdraw time in Exness is instant. With Exness instant transfer/withdrawal time, I can do my own ECN trading more efficiently and make more money this way. Lastly, Exness is the only forex broker up-to-date allowing deposit and withdrawal on weekends. Check myExness reviewsnow.

Exness payment system is truly a step ahead of every other brokers. Its fully automatic, all the works are done by the machine. Exness payment system is programmed to compare your transfer/withdrawal information with your personal ID to ensure that each transaction is always secured.

Its hard to judge which one is better. Its up to your trading strategies. People tend to think that Dealing desk will trade against traders while Non-dealing desk brokers are the opposite. Thats not true at all. When it comes to big Dealing desk brokers, they let the system operate automatically. So, in terms of large scale, Dealing desk and Non-dealing desk brokers are not much of a different.





Hey, Im Fanara Filippo. Im a writer living in Vietnam. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Lets review brokers today.

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Disclaimer: All articles in this website are my personal perspective. I dont encourage you follow them. Because you can lost all your fund. I dont response for all your loss if you follow them.