Most reliable brokers that Asian traders need to know

Why do I say the most reliable brokers for “Asian” instead of the world? When it comes to trading volume, forex, which is short for foreign exchange market, is best known as the biggest market all over the world, and Asian traders contribute 30% of that trading volume. However, Asian traders get the most disadvantaged in the currency market – in most countries, it is illegal to trading forex in the Earth’s largest and most populous continent – Asia. For that reason, most Asian traders would not be protected if bad things occur, and they need a trustworthy Forex broker to shake their hands with. Because the standards for choosing reliable partners for Asian traders are different between regions, I’d like to share some information to help traders choose which brokers that best fit their shoes.

Standards to pick up a trustworthy brokers in Asia

  1. Regulated brokers.
  2. Top largest forex brokers.
  3. Clean history – Scam reports.

Even if those criteria are similar to which help you choose your best Forex brokers, but there are differences in details.

CHECK HERE FOR THE BEST 5 FOREX BROKERS CURRENTLY.

  1. Regulated brokers – Regulation of Trustworthy Forex Brokers:

I have years of experience in trading forex and a bunch of trader pal, and regulation is one of our topics all the time. In the beginning, most of them chose the US and UK regulated brokers for their financial management system. Then I asked them “How about UK, AU, Hong Kong, Singapore, and Japan?” – They had no actual answer, and they just have trust in America, US and UK brokers are better.

Right, the US and UK are very strict with regulation, and if an FX broker company can meet their requirements, that company is excellent in various aspects. It is not a lightweight deal to get those licenses, and brokers must qualify all the standards and regulations to get the qualifications. Nevertheless, it does not mean that a broker company is untrustworthy just because he doesn’t have the US or UK verification – in our case, it’s just because it’s not our business in those countries. Asia is not only the most populous continent but also the second biggest currency market in the world. Many brokers have become the large forex brokers just by working hard on this market – as Exness, the largest retail foreign exchange broker for now. Last month, their trading volume nearly reached 400 billion US dollars, 99% of the number is from Asian regions – where people have no US license, and they have no business to deal with in the US.

If you are Asian or African traders, my recommendation: you’d better not trade at brokers from the US or UK regions, because the spreads and commission are much higher than other regions’ brokers.

Regulations in a nutshell: Rules and regulations are significant, you should trade with local brokers if your country has regulation on it. Otherwise, then… no matter how many verification or licenses that those brokers have, you are still off track. In such cases, my advice is to choose brokers who have 1 reliable, regulated verification, that’s enough. Wherever it is – US, UK, AU, Japan, Hong Kong, Singapore, and CySEC, all of these countries have strong regulation, and thus: reliable brokers.

  1. Top Largest Forex Brokers are Reliable Brokers as usual

In my point of view, It is said that in Asia, if you want to find a good restaurant, go out there and see if there is a long line of people stand in front of a restaurant, which must have years of operations with fame and trustworthiness. That’s how to pick one, and choosing good brokers is no different from searching for good restaurants, why do you have to find a startup or potential brokers to work with between hundreds, or even thousands? If one broker is one of the largest forex brokers, the long live brokers, why don’t you choose those, for the sake of reliability? They cannot be any good. In my experience, I usually invest half my coins into a trustworthy broker, then spend a couple of weeks to test. You should your research carefully, trading problems sometimes happen at the beginning, after some months of trading, that’s why you should consider choosing those top big hands brokers – those well-tested by hundreds of thousands of traders and even experts for years, even for life with some. You can study and take advantage of those lessons and take the remarkable step of your own.

However, if you have no option but to take some smaller with less amount of investment, large forex brokers are not the best for you. It’s up to you to build up your strategy and find the upper hand somewhere else. Let me give you some example:

  • You are a long-term trader, you keep your positions open for several months, and you must choose reliable brokers with a lower swap. Alternatively, if your case is much harder, find some friends who have the same intention, do some research and do it.
  • If you are the scalpers, reliable brokers who have low spread but high-quality execution must be your best option.
  • You are gamblers and you love gambling, choose high leverage brokers, bet all-in. If I were an expert with vast knowledge and experience, or I am too old and have nothing but money to lose, I would go with you.
  • If you want to take quick deposit/withdraw game, and your country has problems with its payment system, you’d better choose brokers who let you do it locally, which might be near your house.

To sum up, my advice: Sign up and create at least 3 accounts on largest forex brokers, deposit a hundred each and do the testing on your own, trade for one month and choose the broker which benefit you the most. Don’t forget that those brokers are in the top, the trustworthy the safety.

Top 5 World Largest Forex Brokers:

  1. com: 400 Billions USD/month
  2. com: 300 Billions USD/month
  3. com: 290 Billions USD/month.
  4. Saxo Bank: 265 Billion USD/month
  5. com: 209 Billion USD/month.

CLICK HERE FOR BEST ECN BROKERS.

  1. Clean history – Reliable forex brokers must have good rating with no scam report.

There are brokers with over 10 years of operations, and they haven’t had claimed any scam. I would choose those brokers, for 10 years is more than enough to prove the trustworthiness. There are many difficulties and changes which can influence even significant economies and also the currency market, and you can do some research and find out how brokers cope with such problems and how can they still survive. For example, in 2015, when the Swiss Central Bank floats its CHF. The CFH/USD was changed over 3000 pips. This wave of change did bring most brokers to collapse, and many traders lost hundreds of million dollars. You can read and find details about such events and check similar stories to ensure that you could find the reliable information and get the right places to go on.

No loss, no gain. For many years trading with many brokers, I’ve trouble myself in various cases. Only after those big waves of life, you can know exactly how reliable such brokers are. Down here are the 5 brokers that I trust the most, especially for Asian traders.

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

CHECK HERE FOR MORE BEST FOREX BROKERS.