When first getting to know the forex market, obviously all traders would love to trade with the top largest brokers in this field. However, due to the fact that they are still inexperienced, they may have some questions like what top 5 largest forex brokers are, or which brokers are most reliable. In fact, identifying and selecting a good broker are not always easy, especially for beginners, and sometimes for experienced traders like us.
At the present time, we still don’t have 100% of data to rank top 5 biggest forex brokers. However, with our experience of trading and working for some forex companies as well as our long time of searching and discussing with many brokers, we confidently believe that this article is useful for you. Sometimes, you may search the Internet in terms of “top largest forex brokers” and find the list of Hotforex, ICMarket, FBS, and FXTM. This list is incorrect because these brokers only trade in some countries in South East Asia and Africa.
Let’s look at the list below – 5 largest forex brokers in the world. (Note: this list is only based on monthly forex trading volume)
- com: $395 billion.
- com: $320 billion.
- com: $300 billion.
- Saxobank: $300 billion.
- FXCM: $220 billion.
In a nutshell, in this article, I would like to give you three key things about top largest forex brokers. I hope it can be a foundation for you to choose a prefect broker for your trading strategies. Now let enjoy the article!
The first thing I would like to mention is the reasons to trade with biggest forex brokers.
In a complicated forex market, scam brokers can steal your money anytime with their dirty hidden acts. Both beginners and experienced traders can be cheated before realizing. It can be said that identifying a scam broker at the beginning is hard because problems seldom happen at first. Moreover, if a broker wants to cheat you, they won’t let you know that. They will let you win more so that you can deposit more, and then they can get more. Therefore, don’t be wild if you can win much because the more wild you are, the more careless you will be, and the more loss it will lead to.
From the analysis above, we can see that trading with big forex brokers will prevent us from scam brokers as they have been reviewed by lots of other traders.
The second thing you should know is whether biggest forex brokers appropriate for all traders.
Most brokers listed above are from America and Europe. They are good choices for you if you are living in those countries. But if you live in others, I suggest that you should find other brokers to trade with because they only offer best services for people in their countries.
If you live in US, Foex.com is suitable for you.
If you live in Europe, you can select Saxo Bank or Exness.
If you’re an Asian trader, CLICK HERE FOR THE MOST RELIABLE FOREX BROKERS FOR ASIAN TRADERS.
The final thing I would like to share with you is the standard to rank top largest forex brokers.
There are of course many standards, but in this category, publishing the trading volume is supposed to be the leading one. The clearer trading volume the brokers publish, the more transparent the brokers are. Hence, you should trade with such brokers as your money will be safer. If the brokers don’t publish the trading volume, you can find it on some reliable resources like statistic websites, financial news, or newspaper.
Sometimes, some big brokers with very high total trading volume such as Forex.com and Saxo Bank will have lower forex volume because they have to offer many products like Crypto, Forex, Future, Commodities, and Stock, etc.
- com: total trading volume is $500 billion, but forex volume is $300 billion.
- Saxo Bank: total trading volume: $600 billion, but forex volume is $300 billion.