Which Is The Best 5 Forex Brokers In 2018

Which Is The Best 5 Forex Brokers In 2018

Most traders want to work with only the best brokers in the field, yet do they know what is expected from a prestige broker? After years of trading in the forex market, I realized that the qualities that define a reliable broker are: reliability, trading fees, and support services. Below is the list of 5 brokers that I believe to be the best forex brokers in the world 2018:

  •  Exness: 9/10
  •  HotForex: 8.5/10
  •  XM: 8/10
  •  FBS: 7.5/10
  •  FxPro: 7/10


Before working with a broker, traders should check its regulatory status as well as under which organization is it regulated. Basically, regulations can be understood as the licenses that trustworthy financial organizations provide to brokers. These licenses illustrate that the trading activities of brokers are under the control of these financial systems. Therefore, any brokers that possess no licenses at all have no evidence to prove their transparency at all. However, a broker that has plenty of licenses is not beneficial for traders either, since these licenses will restrict the trading conditions that brokers provide to their customers. Traders would want to avoid brokers that have high spread, low leverage yet expensive commission rate. Therefore, I would highly recommend traders to find brokers that have one or two reliable licenses. Here is the list of licenses of the current top brokers:


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Another criterion that should be inspected carefully is the cost of trading since the profit of traders is depended on this category. Traders should have a look at these three main trading fees: spread, commission, and the minimum deposit requirement.  

As for the spread fee, this is basically the difference between ASK and BID price which is measured in pip. The spread rate has a direct impact on the trading fees, therefore high spread will certainly lead to higher costs and vice versa. Therefore, traders are advised to work with brokers that offer low spread. Here is the detail of the spread rate of each broker in my list:

  • Exness: 0.7 pip
  • Hotforex: 1.1 pip
  • FBS: 1.1 pip
  • XM: 1.7 pip
  • FxPro: 1.7 pip

Regular and ECN account is the usual account types that traders will use in trading. As a matter of fact, traders should be aware that ECN account charges more fee for the commission since its spread is close to none. Below is the commission fee of the top 5 ECN brokers in my list offers:

  • Exness: $2.5
  • Hotforex: $6
  • FBS: $6
  • XM: $6
  • FxPro: $45

Finally, the minimum deposit requirement is also an important criterion since each trader types will have a different expectation for this category. For instance, beginners prefer low minimum deposit since they are not familiar with depositing a large amount of money. Below is the amount of deposit that each broker in my previous list requires:

  • Exness: $1
  • FBS: $1
  • Hotforex: $5
  • XM: $5
  • FxPro: $500


It is completely normal to confront difficulties during the trading process, therefore brokers should be able to acknowledge this feature and establish a reliable support team. A good service will be available to traders 24/7 and even has local offices that provide face-to-face help to traders. In addition, some customer services even provide support in languages other than English to help traders more easily. Finally, brokers should also make connections with the local banking system to help traders to trade efficiently.

Here is my overall rating for the support teams:

  • Exness: 9/10
  • HotForex: 8.5/10
  • XM: 8/10
  • FBS: 7.5/10
  • FxPro: 7/10

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