A wise trader will always pay attention to researching and carefully choosing the top Forex brokers. It is undeniable that choosing the right top Forex brokers will greatly affect a trader's success.

Therefore, what are the top Forex brokers in this market? Following this article, you will know more about these top Forex Brokers!

 

What is a Forex broker?

Typically, top Forex brokers can be understood as an intermediary between traders and a group of banks or a bank network. Specifically, top Forex brokers will allow traders to buy and sell currencies or other products on the Forex market. Not only that, but brokers will also take prices from banks and provide traders with better prices.

On the other hand, a Forex broker is also an online currency trading platform where investors can buy and sell different currency pairs. It is true that the top Forex brokers provide investors with an online currency trading environment with financial leverage, allowing them to make transactions with much less money than the market value of the asset.

In addition, the top Forex brokers also provide many supporting features for investors such as:

• Technical and fundamental analysis tools.

• Currency market news and updates.

• 24/5 customer support.

• Web and mobile trading platforms.

• Risk management tools such as stop loss, take profit, trailing stop, etc.

• Basic Forex market training and education programs.

How to evaluate the credibility of top Forex brokers

Obviously, both new and experienced traders want to participate in transactions with the top Forex brokers because they do not want to lose money in vain. In fact, many top Forex brokers will often introduce attractive features for new traders to join. However, self-evaluating a broker is extremely important as it can affect traders' trades.

Here are some factors in evaluating the credibility of a Forex broker:

Years of operation

It is undeniable that the longer a Forex broker has been in operation, the more experience and credibility this broker will have. Of course, in order to fully measure the credibility of a broker, this is not yet a core factor. However, the longer a Forex broker exists in the market, the higher its credibility.

There is no doubt that the top Forex brokers that have been in operation for a long time will have legal licenses issued by financial regulatory authorities. In short, this ensures transparency and protects investors' rights. At the same time, such brokers will have the ability to operate sustainably in the long run.

Financial security

Obviously, ensuring the financial security of traders is always an extremely important factor. In other words, the top Forex brokers need to have a sound risk management system and financial reserves to provide the ability to pay investors. As a consequence, this helps investors feel at ease about the liquidity of their accounts.

Not only that, with the development of technology, the top Forex brokers will have integrated modern technologies to ensure fast, secure and stable trading processing. This helps investors conduct transactions conveniently and quickly.

Customer service

This can be considered a necessary factor to evaluate the quality of top Forex brokers. In short, brokers need to have good customer support services, willing to answer questions and resolve issues promptly. With thoughtful support from brokers, investors will feel assured when receiving support to resolve various issues.

Transaction fees

Each broker will have different fees for each Forex trade. However, brokers need to have competitive, transparent and not-too-high transaction fees. The lower the trading fees, the higher the investors' profits.

More specifically, the spread can be considered the main factor for traders to evaluate a Forex broker. Therefore, the lower the spread, the higher traders will rate those top Forex brokers and be willing to invest in them.

The most reputable Forex brokers in the current market

There is no doubt that there are a ton of top Forex brokers not only in Vietnam but also around the world. Although traders are able to search for many top Forex brokers on the internet, it is extremely difficult to choose suitable ones for their investments. In fact, each broker will have many different styles and functions. As a consequence, traders should have a deep evaluation of these brokers. 

However, the listing below will give describe some of the top Forex brokers, so traders will not spend much time searching:      

XM 

XM is one of the oldest and among the top Forex brokers in the world. XM was founded in 2009. In addition, XM Exchange offers over 55 currency pairs with a maximum leverage of 1:888, 24/5 customer support, and web and mobile app trading platforms. XM's trading fees include low currency spreads and no other fees. Therefore, this helps investors save on trading costs.

Not only that, XM has over 4 million customers from over 196 countries worldwide. As a result, XM is ranked as the 4th largest Forex broker in the world. On the other hand, this broker operates under the supervision of CySEC. Hence, these are factors that ensure credibility and safety for investors.

XTB

XTB is not only the oldest but also among the top Forex brokers in Europe. XTB was founded in 2002, operating under the supervision of the UK Financial Conduct Authority (FCA). With FCA supervision, investors can rest assured to participate in this brokerage.

In addition, XTB offers over 1,500 currency pairs with a maximum leverage of 1:30, 24/5 customer support, web, mobile app and software trading platforms. XTB's trading fees include low currency spreads and some small fees.

Axi

Axi is one of the most reputable and popular Forex brokers in Vietnam. Axi was founded in 2007 and licensed by ASIC Australia. In addition, this broker offers over 80 currency pairs, 24/5 customer support, web, mobile app and MT4 software trading platforms. Like major brokers around the world, this broker also has low spread trading fees and no additional fees.

On the other hand, Axi offers many attractive promotional programs such as deposit bonuses, cash back, etc. Not only that, this broker also allows demo accounts for investors to practice and organize free Forex courses. These are advantages that make Axi become a Forex broker preferred by Vietnamese investors.

FXTM

FXTM is also among the top Forex brokers around the world. FXTM was founded in 2011, operating under the supervision of the Cyprus Securities and Exchange Commission (CySEC). FXTM offers over 250 currency pairs with a maximum leverage of 1:1000. As a result, investors can easily increase profits when the market moves favourably. FXTM's trading fees include low currency spreads and some small fees.

In addition, this Forex broker has web, mobile app and MT4/MT5 software trading platforms. Therefore, investors participating in this broker will enhance their trading experience. At the same time, this broker always provides continuous customer support to help investors feel secure to trade.

Zenfinex

Although Zenfinex is a new prominent Forex broker in Vietnam, this Forex broker also has many benefits and features for investors. Zenfinex was founded in 2019, operating under the supervision of CySEC, so this broker will ensure transparency and safety for investors.

In addition, Zenfinex offers over 90 currency pairs for investors to choose from. This broker is always ready to support customers 24/5 in Vietnamese. At the same time, this broker already has web, mobile app and MT4 software trading platforms. Not only that, traders will save on trading costs. Because Zenfinex only charges fees through currency spreads, no withdrawal fees and no trading fees.

FXCE

FXCE is one of the most prominent new Forex brokers in Vietnam. FXCE was established in 2020 and this broker has a Trader’s Guard tool in order to protect traders in each trade on this broker. In addition, FXCE offers more than 90 currency pairs with a maximum leverage of 500:1. Also, this platform is always ready to support customers 24/5.

Moreover, this Forex broker has a web and MT5 trading platform. Not only that, FXCE also provides more than 400 trading tools for traders to use. In addition, FXCE's unique scoring system also ensures transparency in trades and protects investors.

On the other hand, this Forex broker also provides demo pro accounts as well as free Forex Robots for traders to experience. Besides, FXCE does not charge any withdrawal fees. With abundant free resources, traders can quickly understand FXCE and gain more knowledge about Forex trading.

Summary

The top Forex brokers are where traders make profits from trading. Although there are many reputable brokers with unique features and attractive benefits, choosing a suitable broker is always a difficult problem. Therefore, if traders want to succeed in this profession, choosing the top Forex brokers is crucial.