BRKV - Since Asian traders tend to experience more obstacle in the forex trading world, this article is dedicated solely to Asian traders who are struggling in building up their career rather than for all global traders. Despite the fact that Asian traders account for 30% trading volume in the trading world, it is still illegal for citizens to engage in forex trading in most Asian countries. If any problems ever occur, Asian traders do not have the privilege to be protected by their traders, which is extremely unfair. This is the reason why choosing a reliable broker is the most important thing for Asian traders when they first start their career. The standard for a trustworthy broker in Asia is also different from other countries, the purpose of this article is to help Asian traders find an appropriate trader to commit for a long time.

Reliable broker - Asia standards

1. Regulated brokers.

2. Top largest forex brokers.

3. Regional offices

4. Payment systems.

5. Company history - Scam reports.
   

Despite seeming indifferent from the normal broker standards, these Asian standards are in fact more complicating in details. The analysis will be further explained in this article. Here is the list for top 5 reliable brokers for Asian traders :

1. Exness.com

2. XM.com

3. Forex.com

4. Saxobank

5. IG Group

What type of regulations should a reliable forex broker have?

Having traded for many years, I engaged in many discussions with my trading colleagues about the standard regulations for brokers. Initially, most of them regarded US and UK regulations as the best since the US financial management system is extremely reliable. Despite comparing among UK, AU, Hong Kong, Singapore and Japan, they still have faith in the America regulations. Indeed, US and UK regulations are very good and as long as a broker is regulated by these agencies, its trading platforms, technical, financial health, and management, etc. will be highly secured. Since the qualifications for regulations are hard to be achieved, regulated brokers are highly reliable. Nevertheless, this does not mean that brokers without US/UK regulations are not worth a chance from traders. Sometimes regulation agencies simply do not provide services in certain regions. Shifting the focus back to Asia, this is second largest forex market region in the world - where many brokers became successful by investing and providing good quality services such as Exness. Apparently,Exness is the largest retail brokerwith a trading volume of approximately $400 billion even though they do not possess a US license because they do not have businesses in US. In addition, it it remarkable that Asia’s investment account for 99% of Exness’ s trading volume.

I would not recommend US and UK brokers to you if you are an Asian/African trader, since their spreads and commission are much higher than other continents’ brokers.

(You can read this article to know why:Disadvantages of US regulation).

Regulation standards.

If your country have regulations, you should trade with brokers that possess regulations since these regulations are extremely important. However, in case your countries do not provide regulations, you can simply choose brokers with one reliable regulation, which is enough. There is no point in trading brokers with many licenses in a country that has no regulation providing since they are not allowed to protect you if any problems ever occur. Names of trusted regulations are US, UK, AU, JP, Hong Kong, Singapore, and CySEC, etc.

Find out more about reliable regulations here.

Reliable forex brokers should be the largest forex brokers.

Whenever I want to find some tasty food, I will walk along the streets and take a shot at restaurants which are filled with loads of people. Obviously, there must be a good reason why people choose it.

The case is quite similar when it comes to choosing a forex brokers. How do you know if a broker is good? If a broker is known for being the largest forex broker, there must be reasonable factors why traders have faith in them. Personally, I usually spend from one to two weeks testing a broker before deciding to invest all my fund in that broker. However, all trading problems tend to occur when a trader has been trading for a long time rather than at the first few weeks of trading. This is the reason why large brokers will provide the sense of security since there has been hundreds of thousands of traders who have tested these brokers for years. In other words, you can take advantage of these facts.

Nevertheless, this does not mean that all the largest forex brokers are good for you. Each broker has its own beauty and flaws, therefore it is important to find the most suitable broker that conforms to your trading strategies.

Example:

For a long term traders who tend to keep their positions open for some months, it is necessary to find a reliable broker that provides low swap rate.

For scalpers, trustworthy brokers withlow spread / commissionand high quality executions are the most appropriate.

For gamblers, they will be most compatible with high leverage brokers.

For those who live in countries with problematic payment systems, brokers that provide the deposit/withdraw process by local payment system will be tremendously helpful for them.

In short, this is my tip for the apprentice: Create accounts at 3 largest forex brokers, deposit $100 at each, and test these brokers in one month. After that, analyse the profits you gained from these brokers and choose the one that is most lucrative. And the most important thing is, only create accounts in the top forex brokers.

Here are 5 largest forex brokers:

1. Exness.com: $400 Billions/month

2. Forex.com: $300 Billions/Month

3. XM.com $290 Billions/Month.

4. Saxobank: $265 Billion/Month

5. Hotforex.com $209 Billions/month.

Reliable forex brokers should have offices in your countries.

It is a fact that brokers that provide local offices in your country will be more reliable. To explain, each broker has their own target countries, and they will only open offices in countries where they are popular. In order to be trusted, they ought to provide quality services as well as the most competitive conditions compared to other brokers.

Indeed, it is very difficult to open offices in most Asia countries, since brokers have to register for the company and licenses. This means that they will be under the law’s control. Therefore it is safer to trade with legal brokers.

A broker with local offices in your country will be able to provide faster support in case you encounter an unexpected problem. You will be protected by the law if the broker tries to scam you. Yet, it does not mean that brokers with no local offices are not reliable. As I have mentioned, as long as a broker is in the top biggest forex brokers with qualified regulations, they are trustworthy enough. Local offices is just a plus point for a better broker.

Reliable forex brokers have the best payment systems.

The most remarkable feature of a reliable broker would be the fast and no-limit payment system. Traders are deserved to be able to get their profit and deposited fund as quick as possible to maintain the flow of their trading process. Surprisingly, there are even brokers that reject clients’ withdrawal requests if they withdraw too much because these brokers do not have enough available money for the withdrawal. Moreover, the longer they keep your money, the higher chance you may lose all your trading fund. Therefore, you need to stay away from these kind of brokers as far as possible.

Qualifications for a good payment system:

- Fast deposit and withdrawal system.

- High minimum withdrawal limitations.

- Low or zero fee for deposit and withdrawal.

- Local payments.

Having traded with many brokers, I came to realization that Exness has the best payment system ever. All of their transactions are performed almost instantly. In other words, you can always get your money within seconds and you can also withdraw in the weekends. Exness provides a wide variety of free local payment systems that function efficiently and maintain the flow of transaction smoothly.

Check Exness Payment systemhere.

Reliable forex brokers must have good rating and no scam reported.

I tend to put my trust in brokers possessing a ten-year-record of operation with no scam reports against them. Personally, I think ten years is enough for brokers to prove their working ethics and service quality. During their operating time, there will be many annual economic news that influence the whole forex market. Traders can look up for articles analysing these problems and observe how brokers solved these problems as well as how they treated their clients.

Find out more about Exness scam reporthere.

For instance, one of the biggest controversial event in the forex market was when Swiss Central Bank floated its CHF in 2015. Consequently, the CFH/USD was changed over 3000 pips which led to the failure of several brokers. Some traders lost as much as hundreds of millions of dollars. You can search for details about these events and see how brokers treated their clients’ loss below.

Read more THE BEST ACCOUNT FOR NEW TRADERS OF THE FOREX MARKET IN 2018

As a professional trader, I have traded in the forex market for many years and also face many problems with my brokers. It is only after a big forex event that we can find out how reliable our brokers are.

And this is 5 brokers that I think they are the most reliable for Asian traders.

1. Exness.com

2. XM.com

3. Forex.com

4. Saxo bank

5. IG Group

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