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Forex Trade

Started by Indonesia, Apr 09, 2020, 10:01 am

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Banks - Trading between various banks makes up the biggest percentage of commercial Forex transactions. Many of the largest banks will trade billions of dollars everyday. The trading takes place on behalf of customers, but the majority is done by the bank itself. Companies - Companies use the FX market to pay for goods and services from other countries. And also to sell goods and services in other countries. This is actually a very important part of the daily FX market. Central banks/ Governments - Governments and central banks are able to effect an increase or decrease in their own currencies value, and as such play a very important role in foreign exchange markets. They are also able to stabilize the market by using their large foreign exchange reserves. Hedge funds - More than three quarters of foreign exchange transactions are speculative. The people buying or selling the different currencies have no real intention of taking actual delivery. The sole purpose of making a FX transaction would be to speculate on whether the price of a currency is going to go up or down. Large hedge funds have a huge part to play in the currency markets, because they control and speculate with billions of dollars every day. Individuals - When travelling to a foreign country, individuals are participating in the foreign exchange market, when they change up their vacation money. Investors - If an investment firm manages large portfolios on behalf of their clients, the FX market is used because it allows them to buy and sell foreign securities. Retail Forex traders - Retail Forex traders refers to people like you. This particular section of the industry is growing each and every day, as more and more people learn about the top online Forex brokers, and get a taste for the excitement and opportunities it brings. There are also a number of Forex trading platforms that allow the market to be easily accessible via the internet. To access the currency markets, retail FX traders use the services of a Forex broker, or a bank. There are two types of FX broker - dealers and brokers. Top Forex brokers act as an agent for the retail trader. They try to find the best possible price and execute trades on behalf of their customers. Dealers, on the other hand, act as the counterparty to a retail traders transaction. The price they quote is the one they are willing to deal at, and they make their money through the difference between the buying and selling price (spread). Forex dealers are also known as market makers, because they make the market for the trader.


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The benefits of trading the Forex market.
As with any form of investment there are disadvantages and advantages of participating. First we'll look at the benefits.
Forex trading online means you are free to trade anywhere in the world, provided of course you have a reliable internet connection Low charges and fees, compared with trading stocks and commodities There are fewer currency pairs to concentrate on, than the large numbers of stocks and shares Access is easy and usually only requires a couple of hundred dollars to get started Opening hours are Sunday 5pm EST, to Friday 4pm EST, which means you can trade whenever you want Forex is a volatile market, and traders have the opportunity to make a profit whether the market is rising or falling.
Before we carry on any further, we've decided to introduce some of the common words and phrases used in the FX market. As it is important to understand the jargon.
Understanding the basic Forex jargon.
We've already given you a brief introduction to the world of Forex trading, and now it's time to discover some of the unusual and unique terms you are certain to encounter. Without this knowledge you won't be able to fully understand everything you read about the industry, and it'll certainly help when it comes to looking for top online Forex brokers. And it also means we won't have to keep going back and explaining some of the terms we choose to use here.
Exchange rate - This is the value of one currency expressed in terms of another. For example EUR/USD is 1.1121, which means that one Euro is worth US$1.1121. Pip - This is a measurement of the movement a currency can make, and one pip is the smallest movement possible. It is also called a point or points. Margin - This refers to the amount required to keep a position or foreign trade open. There are two types: a used margin and a free margin. The used margin is the amount being used to keep an open position, while the free margin is the amount available to open a new position. Let's give you an example so you have a better understanding. Say, for example, a trader has a £1,000 margin balance in their trading account, and there is a 1% margin requirement to open a position. This trader can buy or sell a position worth up to £100,000. This gives the trader a leverage ratio of 100:1. Should a trader's account fall below the minimum required to keep a position open, they will receive a 'margin call'. This means more money needs to be added to the trading account, or the open position has to be closed. Even top Forex brokers could decide to automatically close a trade when the margin balance falls below the minimum requirement. The minimum amount will vary between broker, but it could be as much as 50%. Leverage - Leverage allows a trader to gear their account into a position greater than their total account margin. In the example above, the leverage was 100:1. Let's look at another example. Say, for example, a $300,000 position is opened with a £1,000 margin in the trader's account. Leverage in this case would be 300 times, or 300:1. We should mention that leverage can increase gains, but it can also increase losses. Spread - This refers to the difference between the bid and offer price, or the buy and sell quote. Bid and ask price - The bid is the price the market or broker quotes for buying a specific currency pair. The ask price is the price the market or broker quotes for selling a specific pair. The difference between these two prices is called the spread, and varies from broker to broker.


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Now you have a little bit more knowledge regarding some of the most important Forex terms, let's take a look at the most common currency pairs and help you to understand a quote.
Understanding FX currency pair quotes.
The major Forex currency pairs and their nicknames are:
USD - US Dollar EUR - Euro EUR/USD - "Euro" JPY - Japanese Yen USD/JPY - "Dollar Yen" GBP - British Pound GBP/USD - "Cable" or "Sterling" CHF - Swiss Franc USD/CHF - "Swissey" CAD - Canadian Dollar USD/CAD - "Dollar Canada" AUD - Australian Dollar AUD/USD - "Aussie Dollar" NZD - New Zealand Dollar NZD/USD - "Kiwi"
It's vital to understand how to read a currency pair quote before you start trading, so let's help with a brief explanation. The best online Forex brokers quote the exchange rate of two currencies in a pair. This is because in any Forex trading transaction, one currency is being bought, while another is being sold. This never changes.
Here is an example of a quote relating to the Euro and US Dollars:
EUR/USD - 1.1121 The first currency in the quote is the Euro and is called the base currency. While the second currency, the US Dollar, is the counter or quote currency. If you decide to buy this particular currency pair, it clearly indicates how much of the quote currency (USD) is required to buy one unit of the base currency (EUR). In the above example, 1.1121 US Dollars are required to buy 1 Euro. If you sell the currency pair, you will receive 1.1121 US Dollars for each Euro sold. If you want an easy way to remember the principle think of the base currency as the basis for the trade. Whether you are buying or selling a currency pair the base currency is always the same. In other words, it is always based on the first currency in the pair. The whole point behind Forex trading, is to buy a currency pair if you consider the base currency will increase in value (appreciate), in relation to the quote currency. If you think the base currency will decrease (depreciate) in value in relation to the quote currency, then you should choose to sell the pair.
Forex Brokers By Countries.


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The history of Forex trading and the Forex market.
Some of you reading this will find this section a little boring. We appreciate that not everyone will want to know about the history. But we consider it an important part of your Forex journey. It's good to know at least a little about why Forex markets exist and how it all began. So here goes. The foreign exchange market, or Forex, FX, or currency market, as it now often known, refers to a global decentralized market in which currencies are traded. Under this heading are all aspects of buying, selling, and exchanging different currencies at a current or predetermined price. Currencies have been traded across the globe for centuries, but one of the most important events in the history of the Forex market happened in the 1800s, when the gold standard was introduced. Before its introduction it would generally have been gold and silver that were used for international payment. However, this wasn't a particularly good method of payment. The value of these two metals was very much up and down. And were affected by global supply and demand. If a new gold mine was discovered it would drive the price of gold down. The gold standard was introduced so that governments could guarantee the conversion of a currency into a specified amount of gold, and vice versa. A currencythat would be backed by gold, and should have stabilized world currencies, sounds a pretty good idea in theory. In real life, however, it didn't quite work out so well and tended to create patterns of boom and bust. The gold standard was dropped, but gold as a precious metal never lost its importance as a form of monetary value. Towards the end of World War II, Allied nations found there was a need for a monetary system to fill the void left by the loss of the gold standard. 700 representatives from the Allied countries gathered together in Bretton Woods, New Hampshire. The reason for the gathering was to iron out the details of a new international monetary system. They decided to call it the Bretton Woods system. The main part of this new system was for the US dollar to replace gold as the standard used for converting world currencies. It also led to the US dollar being the only world currency backed by gold, at that time. It also created three agencies that would oversee economic activity across the globe. These were the IMF (International Monetary Fund), International Bank for Reconstruction, and the General Agreement on Tariffs and Trade (GATT). However, this system suffered a number of problems. These included the US Treasury running low on its gold reserves, and not having enough gold to cover all the US dollars foreign central banks had in their reserves. Bretton Woods came to an end in 1971, when President Richard Nixon closed the gold window and refused to exchange US dollars for gold. While Bretton Woods didn't last it did leave an important legacy that still affects the market today. And that is the three international agencies that were created and still exist today, albeit in a slightly different form. Nowadays, currencies are allowed to float freely against one another, which has led to the value of various currencies varying, and in turn this led to the need for foreign exchange services. The services were provided by commercial and investment banks on behalf of their clients. But it wasn't until the introduction of Forex trading online that the FX world was opened up to everyone. It has also led to Forex trading being used as a speculative form of investment.


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Top Forex Payment Systems.
The skills you'll need to become a successful participant in the world of Forex trading online.
The world of Forex offers amazing opportunities for people to make money. However, we should point out that there are also amazing opportunities for people to lose money too. As with any form of investment prices can go down as well as up. There are ways to increase the chance of winning big, but there is no sure fire way for 100% success. There are a number of skills required that will help anybody considering trading Forex online. We'll give you the list, but then you have to decide whether you've got them.
Be able to accept a loss without getting emotional Be confident in your own ability and your trading strategy, and to not be afraid Forex trading requires dedication A successful trader is one who can remain calm and unemotional, even when the market is really tempting The ability to concentrate and not be led off track is vital A certain level of objectivity and straight forward thinking is vital FX traders need to be well organized in order to forge and reinforce good habits Patience is required You should be a realist and not think that FX trading is going to be the answer to your financial woes, or make you a millionaire overnight A certain amount of knowledge is required in order to take advantage of a trading edge when it arises, as well as keeping abreast of what is happening in the FX market You should be in control of all your trading decisions, at all times, and avoid over-leveraging your trading account.
We think it's time to look at the first and most important step to take, as you should now have enough basic information to start your Forex journey.
Tips on finding the best FX brokers.
You should have realized by now that being a novice isn't something to be ashamed of. There are thousands of people starting their own Forex journey the same as you. Unlike many other kinds of investment market there are a huge amount of free learning tools and resources to help you on your way. All the best Forex brokers offer free demo accounts, and there are also mentoring services, online tutorials, and heaps of online and printed resources, charts, and signals. In fact, there is so much to choose from that it can be rather daunting. So let's help to guide you with taking your first and possibly most important step. Selecting the best Forex broker isn't going to be easy. That is if you want to pick one in an objective and scientific way. Of course there is always an easy way, but you shouldn't be tricked by various clever promises. You are going to be bombarded with eyecatching ads online, in magazines, and on TV, put there to catch the blissfully unaware, but we hope that you aren't going to be one of them. You're going to be using a strategy when it comes to Forex trading, so why not make one when choosing the best online Forex brokers. Let's look at some of the features you should be taking into account.


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Forex Brokers By Regulation Authority.
Check the FX broker is regulated - You should always check whether the broker is registered with a particular regulating authority. If the FX broker is based in the USA, you can check with the National Futures Association (NFA), or the Commodity Futures Trading Commission (CFTC). If the FX broker is based in the UK, you can check with the Financial Service Authority (FSA). There are plenty of FX brokers who aren't registered with a regulatory body, but you might want to think twice before opening an account with one of them. As your level protection will be severely dented. A wide range of leverage amounts are on offer - All the best online FX brokers have their own different range of accounts to offer their clients. There are also a range of different leverage amounts to choose from. It could be 50:1, 200:1, or possibly even greater. Leverage can work to a trader's advantage, as it increases the potential for bigger profits. However, there is a very big downside. It can quickly destroy your trading account too. As not only is your potential for profit increased, but equally your potential for losses. How much is it all going to cost? - Even the best FX brokers are in the business to make money, and it is done through commissions and spreads. If a FX broker uses commissions, it is generally charged at a fixed percentage of the spread. There are, however, a number of FX brokers who advertise that they charge no commissions. But don't think this means they are in the business for love not money, They make their money with wider spreads. How much is the initial deposit? - Minimum deposit requirements vary considerably, and not just between individual FX brokers. The best Forex brokers will also have a variety of different accounts, each with its own individual requirements and benefits. Some accounts require relatively small amounts to open, which is why Forex trading is so very popular for beginners and new investors. How easy can you get to your money? - Hopefully, there will come a time when you need to withdraw some of your winnings. Each FX broker will have its own withdrawal and funding policies, so you'd be wise to check the small print and the terms and conditions of the broker's site. There will be a number of methods you can use, but there may also be a fee that is charged, depending on the amount being withdrawn. Does the Forex broker offer the currency pairs you're interested in? - The majority of FX brokers will offer the major pairs, which as USD/JPY, EUR/USD, USD/CHF, and GBP/USD. There will also be a number of other pairs, but the most important ones are those you're interested in personally. Choose a broker that offers a free demo account - With a free demo account a trader can try out different FX trading platforms, before opening an account with real money. It will also provide the opportunity for testing a particular strategy, as well as gain an understanding of the broker's level of service. The trading platforms used for demo accounts are very similar to live trading platforms, but not identical. There are often different in execution, slippage, and reliability, but it does give a trader the opportunity to check a platform out for size, before risking real money.
When it comes to choosing the best Forex broker for your needs, there is a lot to be said for checking out sites that offer Forex broker comparison.
Tips on becoming a successful Forex trader.


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Once you've checked out the various Forex broker comparison sites, you're going to be well on the way to finding the best Forex brokers for your needs. Time to think about sharing some information on the importance of keeping to your own set of rules, and those that have guided countless successful Forex traders. And it doesn't matter whether a trader is a complete novice or an expert, or how big the size of their account, all of the following rules are important especially when allowed to work together.
Have a trading plan and stick with it - Your trading plan will define your entry, exit and money management rules. However, this set of rules can't be written overnight. Once a plan has been developed it should be backtested, as this will determine whether the trading plan is viable. Using a demo account provides the perfect opportunity to test a plan, without risking any real money. Once is has been developed and backtested, it is vital to stick to the plan. Even if a trade turns out to be a winner, if it is outside the trading plan it is considered to be poor trading. Don't treat it like a hobby or job - The correct approach to Forex trading is to treat it like a full or part-time business. There will be a lack of commitment to learning if its treated like a hobby, which could turn out to be very expensive. It's not advisable to treat it like a job, as there is no regular paycheck to rely upon. Trading Forex makes a trader a small business owner, with all the expenses, losses, taxes, stress, and uncertainty having a business brings. In order to maximize the potential of your business you will have to do your research, keep up with the latest economic news and develop strategies. Technology is all around you so use it - Even if you aren't, you can bet your bottom dollar the person sitting on the other side of a trade has likely taken full advantage of technology. Charting platforms, backtesting, and market updates, are there for the taking. And more often than not it's all completely free. Even something we take for granted, such as a high speed internet connection, can increase your trading performance. Technology is a big advantage, and keeping abreast of all the latest advances can be fun and rewarding too. Trading capital should be protected - You've probably worked hard to find the money to fund your trading account, so you'd be mad not to do everything you can to protect it. And we're not referring to losing trades here, because that's all part of the thrill of Forex trading. To protect your capital you should be taking no unnecessary risks, and doing everything to preserve your trading business. Trading Forex means being prepared to keep learning - Understanding the markets and all their tiny details is an ongoing process. Even the most experienced traders are continually learning. By doing the right kind of research a trader can gain instinct and learn all the nuances. Thereby understanding how the various economic reports affect the market. There are so many variables and the market environment is dynamic. World events, politics, economics, and believe it or not, even the weather can have an impact on the market. Understanding past and current markets means you can be better prepared for the future. Don't risk any more than you can afford to lose - Before you start trading you should be sure that the money in your trading account is expendable. It shouldn't be for paying the mortgage, or paying for the kids college tuition. You should be prepared to lose all the money in your trading account, without endangering your important obligations and financial responsibilities. Know when to stop - There are two factors that could be the reason to stop trading. It could a trading plan that just isn't working, or a trader that just isn't effective. If your trading plan isn't working don't be disappointed. Just pick yourself up and reevaluate the plan and make the necessary changes, or develop a completely new one. If it's the trader who is the problem there are a number of factors which can affect performance. It could be stress, poor health, lack of physical activity. But whatever the reason, seriously consider taking a break to deal with personal problems. Once these are dealt with a trader should be able to get back to business. Be realistic - When participating in Forex trading it is important to keep things real, while also focusing on the bigger picture. Don't be disheartened by a losing trade, as this is all part and parcel of your journey. And don't expect one winning trade to be the answer to your prayers. Cumulative profit are what make the difference. Accept there will be ups as well as downs and emotion will have a lesser effect on trading performance. It's also important to be realistic in setting goals. If a trade account is small then it's not going to bring in huge bucks in profit.


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All of these trading rules are important, and understanding how they work together will help you to develop a viable Forex trading business. It's not going to be easy. In fact it's going to be hard work. But as long as you stay disciplined and are patient it's more likely your journey will be a success. We're here to help you with your journey, and we hope you'll keep our site as one of your favorites. Because we've got so much more to share.


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Which broker is the best Forex broker?
BRKV - How can you know which broker is among the best Forex brokers in the world? What standards are used to determine that? This article is the answer for you. CFDs are complex instruments, so you need good brokers in order to succeed in trading. Believed by many, the best Forex brokers tend to be the ones who focus on improving their trading conditions to help traders earn money, and do not concentrate on short-term profit or pay IB more money to attract customers. In my opinion, for a broker to be qualified as the best, it has to meet these standards below:
Trustworthy Trading costs Trading conditions Customer services Regulations Spread Account type Payment system Historical activities Commission Quotes Local offices Trading volume Slippages Trading platforms Availability Rebate /Bonus Leverage.
Here are 10 Forex brokers that I think can meet the standards above:
Exness: 9/10 Learn more here XM: 8.5/10 Learn more here Hotforex: 8.5/10 Learn more here FXTM : 8/10 Learn more here Pepperstone: 7.5/10 Natureforex: 7/10 Think Market: 6.5/10 Saxo Bank: 6/10 FxPro: 5.5/10 FBS: 5/10.
RELIABILITY.


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The best Forex brokers must have trusted regulations.
I have traded Forex for many years and have many trader friends. We discussed a lot about brokers' regulations. At the beginning, most of my friends thought US and UK regulated brokers are better. I asked them why. They chose US brokers because they trust US financial management system. I asked them: "How about UK, AU, Hong Kong, Singapore, and Japan?" They actually didn't know exactly why, they just have a trust in America.
Yes, US and UK regulations are very good. If a Forex company can acquire one of these regulations, it means their trading platforms, technical, financial health, and management are good. Because it isn't easy to get these licenses. Brokers have to qualify all of the qualifications of these regulations to get the licenses.
Below are the 3 best Forex brokers with UK regulations:
But it doesn't mean that brokers who don't have US, UK regulations are unreliable or less reliable. It's simple because they don't have business in those regions. Asia is the second biggest Forex market in the world. So, many brokers became the large Forex brokers just by serving this market. Exness is the largest fx broker now. Their trading volume last month is nearly $400 billion, and 99% of this volume is from Asia. They don't have US licenses. It's okay because they don't do business in the U.S.
Here are the top 3 biggest market-maker Forex brokers 2019.
If you are Asian and African traders, I don't encourage you trade at US brokers. Because their spreads and commission are much higher than other continents' brokers.


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Conclusion for regulations. Regulations are very important. If your country have regulations, you should trade with brokers who have your countries regulations. But if your countries don't have regulation, it means no matter how many licenses that brokers have, they won't protect you. In this case, you should choose brokers who have 1 trusted regulation, which is enough. This regulation can be US, UK, AU, JP, Hong Kong, Singapore, and CySEC. All of these are trusted regulations.
Top 5 brokers with the most reliable regulations:
Brokers Regulations Exness CySEC, FCA Check regulations XM CySEC, FCA, ASIC Check regulations HotForex CySEC , FCA, FSCA Check regulations FXTM IFSC Check regulations FBS CySEC, IFSC.
The best Forex brokers must have good ratings and no scams reported.
As usual, I choose brokers which are over 10 years old and didn't have any scam claimed. I think 10 years is enough for brokers to prove themselves. There are many big annual economic news that influence the fx market. We can see how these brokers solve these problems and how they treat their clients.
For example, in 2015, when Swiss Central Bank floats its CHF. The CFH/USD was changed over 3000 pips. Most brokers lost. Some brokers lost hundreds millions Dollars. You can find details about these events and see how these brokers treated their clients' loss below:


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TRADING COST.
The best Forex brokers must have low spread and commission.
As traders, we all want to the trading costs as low as possible because these small costs can add up to quite a lot of money after a long time trading Forex. That's why it's also important to pay attention to the trading costs of your broker.
For those of you who are not familiar with the term spread and commission, these two are the main income for a broker. When a broker gets its quotes from the liqu > Mash up . There are two types of brokers in total: dealing desk and non-dealing desk. Spread is basically the main income for the dealing desk type, whereas non-dealing desk brokers' main income is mostly commission paid by traders.
Thus obviously, a good broker must always the one who has the low spread and/or commission on currency pairs. Having done several researches of our own, below are the specific spread on the most popular currency pair, EUR/USD of the top best fx brokers:
Exness - 0.7 pip. Check Exness spread here XM - about 0.8 pip. Check XM spread here Hotforex - about 1 pip. Check HotForex spread here FXTM - about 1.7 pips. Check FXTM spread here.
Bonuses and rebates are a type of discounts.
The US and UK regulations usually prevent their brokers from offering rebates or bonuses. This is one of the main drawbacks of having too many regulations that I've mentioned above. Professional or expert traders might not care that much about bonuses since they've invested too much money to care about a little increase in their profit. However, for regular traders like we are, a good rebate/bonus program shouldn't go unnoticed. A $5 rebate per slot means you're essentially saving on a 0.5 pip spread. These advantages might prove to actually be quite beneficial for small to medium traders in the long run.
Out of the 5 brokers that I've mentioned above, only XM have good bonus programs. You can get as much as 30$ welcome bonus when creating an account for the first time. What's more amazing is that you can also get a 100% bous when deposit for the first time in this account.


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Low minimum deposits.
Of course when you want to start trading, you have to deposit some money in. It's not free. You know that, right? This is when beginners get nervous. They don't want to deposit to much at first, because statistically speaking, over 98% of Forex beginners lose everything from the start. That's why brokers with low minimum deposits are appreciated. Here are the lowest minimum deposits rate of each of my favorite brokers:
Exness: $1 Check here XM: $5 Check here Hotforex: $5 Check here FXTM: $10 Check here.
TRADING CONDITIONS.
The best Forex brokers must have all account types.
Every broker must have 3 types of account for all levels of trader (beginner, experienced, expert). Those 3 account types always are: demo account, regular account, and ECN account. All 10 brokers I pick have these account types. If a broker doesn't have one of these accounts, it is probably not a real broker.
The best Forex brokers should have better trading platforms.
As you may know, MetaTrader and MetaTrader are among of the most popular trading platforms. But they aren't perfect since they aren't compatible with some operation system such as Windows Vista and Windows XP, as well as smart phones. That's why some brokers have taken the initiative to invest in their own trading platforms which are more compatible with smart phones and older operating systems.
XM is currently ahead of everyone else in the developing/improving trading platforms area. Check XM trading platform here.
The best Forex brokers should have offices in your countries.
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.
Of course, they should be in the list of the largest fx brokers. If they have an office in your country, they are the more reliable. Each broker has their targeting countries. And they only open office in countries where they are popular. They can only be popular in your country when they offer you the best services and the most competitive conditions if you have a comparison between brokers.
Moreover, when they have office in your country, they will support you faster. If there is any problem, you can get support from their offices. If they scam you, the law will protect you.


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Exness has local offices in Cyprus, China, Malaysia, Singapore, and Thailand CHECK LOCATION XM has local offices in Spain, New Zealand, Greece, Hungary, and Australia CHECK LOCATION.
But, it doesn't mean brokers who don't have office in your country aren't reliable. As I mentioned above, the brokers in the top biggest Forex companies with the above regulations are trusted enough. If they have offices in your country, they are even better. Exness is leading in this category since they have offices in Indonesia, Malaysia, Thailand, Singapore, China, Korea, and Cyprus.
BRKV - For countries that don't 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 the best Forex brokers in Asia because those traders may not be very good at English. Here is the brokers list of those who can help you in different languages.
Exness supports 18 languages 24/7 CHECK DETAILS XM supports 23 languages 24/7 CHECK DETAILS HotForex support 27 languages CHECK DETAILS FXTM supports 19 languages CHECK DETAILS.
The best Forex brokers should have the best payment systems.
Fast and no-limit payment system is the best. We deserve to get our profit and deposited fund quickly. I knew some brokers try to reject our withdrawal if we withdraw too much. Because they don't have enough available money for the withdrawal. And if they keep you money too long, you may lost all your fund in trading Forex. So, don't trade with these brokers.
Good payment system are:
Fast deposits and withdrawals system. High minimum withdrawal limitations. Low or zero fee for deposits and withdrawals. Local payments.
I have traded with many brokers and Exness has the best payment system. All transactions are instant. You can get your money within seconds. You also can withdraw in the weekends. There are many free-of-charge and local payment systems that all are instant and free.
Why is Exness Payment system so fast? Exness payment system is truly a step ahead of every other brokers. It's fully automatic, all the works are done by the machine. Exness payment system is programmed to make a comparison between your transfer/withdrawal information and your personal ID to ensure that each transaction is always secured.
And this is 5 brokers that I think they are the best Forex brokers:
Exness: 9/10. Create an account Exness.com XM: 8.5/10. Create an account XM.com HotForex: 8.5/10. Create an account Hotforex.com FXTM: 8/10. Create an account FXTM.com FBS: 7/10.
September 30th update: Exness released its exclusive social trading platform early this year. I have tried it for 6 months now and I must say, it's really impressive. Exness social trading platform lets you copy the trades of the top Forex traders these days for free. You can easily earn money just as the professionals do it. Since Exness is one of the biggest Forex brokers, the traders there really focus on stable and long-term profit, not just some short-term goals to lure beginning followers. They are ranked according to different criteria like profit percentage, risk score, and commission. Try Social trading at Exness, one of the best Forex brokers in the world, today.