Who can be the most reliable brokers for Asian traders?

reliable brokers for Asian traders

Asian traders have 30% in trading volume in the forex market of the world. They do a lot for the forex world. However, there is a truth that Asian traders have to face more problems and less benefit when trading with brokers that are not from Asia. The reason is that, in Asia, there are no laws to protect traders from accident or risks. So, it is more expensive for them to trade with US or UK brokers to be saved. Therefore, traders from Asian always worry about the credibility and security level of brokers. They want to work with trustful brokers. Below, I review some factors of the best brokers for you who find it confusing to work with forex market, especially Asian ones.

Click here for more best forex brokers.

reliable brokers for Asian traders

There are some criteria for the best Asian brokers

All the standards blow are quite the same when we judge the best brokers in the whole world, but there are still some aspects that are different from.

– Trusted regulations/ licenses

– The highest trading volume

– Payment system

– Company history or scam problems

– Local support

 

What is the perfect idea about regulation or licenses?

Most of the traders believe that US and UK brokers are more reliable because their licenses are better. It is quite hard to get their regulations as they require many high qualities. So, many traders assume that these US or UK brokers have a better financial management system, technical, or trading platform.

So, how about brokers from AU, Hong Kong, Singapore, and Japan…? Are they less reliable? The point is that they do not work on these UK or US countries, so they just do the business within the Asia market and gain lot revenue from this because of that Asia is a huge forex market, too- the second largest. Therefore, these brokers do not need licenses from the US or UK to be trusted.

For instance, Exness does not have licenses belonging to the US but their trading volume is huge- about 400 billion dollars per month and most of them are from Asia market. And now, they are the largest retail forex broker.

In addition, US and UK brokers have more than one license that causes the problem that they can not offer low spread rate and commission fee because of more charges to pay for the organizations and agencies.

In conclusion, you better trade with the brokers that have licenses from your countries so you can be protected better. And if the brokers do not have licenses from your countries, they should have just one trusted licenses from some of the reputable organizations such as US, UK, AU, JP, Hong Kong, Singapore, and CySEC to prove they are reliable

A huge amount of trading volume can show their credibility

That is right to me that if a service is good they can totally attract more clients than the others. That is why I usually choose the big brokers to trade with because definitely, they are good and people believe them to invest in them. Moreover, you can usually test the brokers before opening an account to trade with. However, it takes more time to see how they work and how reliable they are. You better review some results and comments from the majority amount of other traders to know which one is the biggest. Obviously, the biggest ones have a huge amount of customers and trading volume.

The truth is biggest traders may be good but traders should consider their plan and targets to choose more suitable big traders. For example, long-term traders usually have their account open for months, so they should work with brokers with low swap and with reputation, or scalpers would rather pick the brokers with a low rate of spread and commission. In the case that you are gambles then high leverage brokers will fit you well. And there is a situation that it is trouble to deal with your country’s payment system, so a better solution is trading with a broker that has a local payment system.

If you are asking me how to know what the best broker for your trading is. I recommend that you open three accounts with three different big brokers. Then you test these three brokers by yourself and see what is the most suitable for your trading strategies.

Here, I list five largest forex brokers with their trading volume every month for your starting trading test

  1. Exness.com: $400 Billions per month
  2. Forex.com: $300 Billions per month
  3. XM.com $290 Billions per month
  4. Saxobank: $265 Billion per month
  5. Hotforex.com $209 Billions per month

Click here for the best 5 ECN brokers.

 

The convenient payment system is one element of the best reliable brokers

There are some common problems with withdrawal. For example, there are some brokers refuse when you withdraw too much at the same time or some of them will keep your fund too long that you are at risk of losing your money. So all traders want their money to be saved and that they can have their money as easily as possible. Good payment systems usually have auto and fast withdraw systems with the very little limitation of withdrawal and the charge is even none. Besides, best payment systems build their systems at the local too. From my experience trading with many brokers, I suggest that Exness has the best payment service. They supply the auto system that processes everything with a machine in just seconds and they even open the system on the weekends. Excess also frees the charge for clients and the tool in most of the target countries the local transferring system.

reliable brokers for Asian traders

Local offices can make brokers more trustful

The most reliable brokers usually have their offices in the target countries and they serve the best service for their clients. Therefore, they make their name known and become popular. So, with the offices at the local business, they can define their credibility and their competitive position in comparison with other brokers.

In addition, to establish an agency in Asian countries, it requires some paperwork like registration or licenses and the control from the local authority. So if brokers can meet all these asks they prove they are even more reliable and worth trading with.

One of the benefits of local service is that clients can be supported quickly. In the case that there are problems like you have cheated any problems with payments or needing any advice, you can immediately contact the local office. And it is sure that laws will protect traders from any risky situations.

 

The review is good through time and scam issues are clear

There are brokers that have been in the market for more than 10 years and strike a lot of success. For the reason that they are free from a scam or any frauds and along this long time working, they have gained their reputation. Any problems occur and affect the clients these big brokers all have solutions to help their clients and save them from any risks.

In 2015, The Swiss Central Bank floats their currency- CHF. That leads to the consequence that the pair CFH/USD was changed with the spread of 3000 pip. That is totally a giant number that causes huge loss for a lot of brokers and even traders have hundreds of dollars out of pocket. So, from these circumstances, you can judge how brokers deal with the problems or make it up for their clients.

With all these factors checked above, and with knowledge of trading so many years, I can assure that the top five brokers below are sure tested and meet all the standards mentioned. They are:

  1. Exness.com
  2. XM.com
  3. Forex.com
  4. Saxo Bank
  5. IG Group

Click here for the best 5 forex brokers currently.

Related posts

Leave a Comment