- August 15, 2022
- Posted by: LBFB Broker Experts
- Category: Best Forex Brokers
Wishing all traders who finished reading the top reputable forex brokers would be FARMED by FOREX, NOT FOREX FEEDING!
Forex is an extremely “difficult” field, but it has become an attractive “gold mine” for investors because of the profits it brings. And the first step if you want to “touch” forex, is to find a really reputable Forex broker to trade, which is not easy for traders, especially novice traders. Understanding that, kienthucforex.com would like to introduce TOP reputable Forex brokers, for your reference to find the most suitable broker for you.
One point worth mentioning is that thanks to the development of the internet, it not only helps financial investment in general, forex in particular, but even the forex floor continuously blooms, sprouting up like “mushrooms after the rain”. Therefore, in addition to introducing reputable forex brokers based on your own trading experience. We also provide general criteria used to evaluate a best forex broker today, as well as help you answer the question: Which forex broker should I choose in Vietnam through the article below. .
Exness Exchange _(4.5/5)01
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- Low minimum deposit.
- High leverage 1: infinity.
- Super fast withdrawal even on Saturday and Sunday.
- Free overnight (swap fee) for cryptocurrencies and GOLD (very few exchanges do).
- Professional and enthusiastic support staff.
- The registration process is quick and simple.
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- True ECN Exchange
- Super low spread, many pairs are zero like USDCHF, EURUSD, USDJPY…
- Provide free trading signals from Autochartist or Trading Central
- Professional and enthusiastic support staff
- Offers advanced trading software: MT5 and cTrader
Exchange FBS _(4/5)
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- Support many flexible methods of money transfer and withdrawal
- There are many types of accounts for customers to choose from, suitable for many different types of customers.
- Dedicated professional customer support
- Large leverage up to 1:3000
- Fast deposit and withdrawal
- Signing up for an account is very simple
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- Low commission fee 4 USD/lot/2
- Prestigious legal records
- Diverse trading accounts, support new traders, low capital
- Many tools to support trading, good analysis
- Low spreads, competitive commissions
- Many deposit and withdrawal channels
Exchange XM _(4.5/5)
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- Own a lot of licenses from reputable organizations
- Integrate Forex and CFD trading on the same trading account.
- There is an account specifically for traders who like to trade stocks
- No commissions (except for stock accounts)
- Low minimum deposit
- Suitable for those who like to play Hedging
- Fast and convenient withdrawal
- XM supports all remittance fees
- Continuous promotion
- Provide professional TRADING SIGNALS 2 times per day
What is forex broker ?
Forex broker is an organization that acts as an intermediary to connect investors and organizations with each other or between a party (want) to buy and a party (want) to sell, thereby creating liquidity. for the market sales.
It is also because forex trading is not really for small individuals, mainly for investors with large capital, funds, banks, liquidity providers. So the forex floor is an indispensable component, in order to connect and help traders participate in this currency trading market with the above individuals.
To receive orders from traders, the exchange will provide trading platforms that allow buying and selling foreign currencies, after the trader places an order, it will be transferred directly to the broker. At this time, the forex broker may push that order to the market with an ECN-type floor, or it can hold an order with a Market Maker or bookmaker. It can be seen that all activities of traders from opening / closing orders, taking profit / stopping loss or depositing are done in a closed cycle based on that foundation. Therefore, the forex broker plays an important part related to the quality of traders ‘ trading .
The exchange collects fees from traders through two main sources: spread or commission fees. Usually every forex broker has 2 types of such accounts so that traders can choose the one that suits them best. In addition to forex currency, currently forex brokers offer many different product services such as commodities (soybean, corn, coca, coffee…), energy ( crude oil , natural gas), metals. types ( gold , silver, copper…), cryptocurrencies, stock CFDs even indices or bonds…
A reputable forex broker must be regulated by major financial authorities in the world. Below we have explained very thoroughly why reputable financial regulatory agencies are one of the most important criteria to choose. Please read that section carefully, and choose for yourself the most suitable forex broker to trade, friends.
Choose the side to deposit gold in a reputable forex broker
After a long time of development, the transition from gold standard trading to a free exchange rate system and finally online trading in 1994, helped forex or forex trading really grow widely, Anyone can join as long as there is an internet connection.
However, forex has a special feature that retail traders are not allowed to trade directly, but must go through an intermediary channel, here is the broker or forex broker . In addition, in Vietnam forex has not been recognized by law, the state does not allow the opening of the floor, if there are any complaints, it will be difficult to get the intervention from the competent authorities. Therefore, finding a reputable forex broker to open a trading account is extremely necessary for you to protect yourself and avoid troubles later.
Not only that, many traders have little habit of changing forex brokers , unless the exchange has too many problems, the new trader has to “move” to find a new place. Therefore, forex brokers often offer promotional tactics to attract customers, especially first-time customers opening a forex account to retain traders.
So in order to avoid making people angry, psychologically affected or losing money unfairly, you should take your time and learn to choose a reputable forex broker that suits you best.
Why is choosing a forex broker so important?
One of the criteria for evaluating a forex broker is that it is licensed or regulated by reputable organizations. These agencies often have a lot of strict requirements ( we will talk about them in detail in the next section ), the floor is required to fully comply with the criteria set out in order to be licensed. Otherwise, you will be disqualified from the parking round! The licensing not only helps the forex broker have a “passport” to operate in the financial market, but it is also a scale to evaluate the reputation of the exchange, in order to attract traders to participate in trading.
Sadly, forex trading in Vietnam has not been recognized by law (although it is not prohibited by law), and there will be no financial agency or committee to protect traders. When there is a mistake, there will not be any sanctions against these forex brokers. Therefore, the general invisible Vietnamese market becomes a “gold mine” so that the forex broker lacks the reputation to “practice” without any form of handling.
The Trader department has 12 clear waters thanks to the turbidity!
Inherently where there is a “smell” of money there will be full of scams. Therefore, a place that uses money as a product, a means of transaction like forex, the fraud that happens as usual is probably completely understandable.
If you take the time to surf forums or Facebook groups, you will see every day warnings about scams on floor A, floor B, and floor C.
Sometimes, kienthucforex itself, when reading such posts, also wonders, why don’t many of you choose a reputable forex broker to trade? But choose the floor that lacks credibility, and then have to go to Facebook to complain! But what heaven knows for you?
The trader himself, after all, will be the one who suffers the most when faced with such a situation. Because not only lose money, you also hurt mentally. Sometimes losing money does not feel sorry, instead it is a feeling of deception that tortures the spirit, makes us feel uncomfortable, but can’t do anything.
Usually, when an event or a conflict occurs, people will use 2 types of laws to apply: 1 is the law and 2 is the law of the jungle ( although this form is not really a welcome option). welcome ). However, if trading forex, my sincere condolences because you (almost) cannot apply both forms of law!
With the law : Currently, although Vietnam does not classify forex as a form of business ban, it is not protected by law. This leads to the fact that you only have to “sue the potato” when something happens!
With the law of the jungle : you can hardly apply it, because every forex broker is based abroad. If you want to “3 sides 1 word” or use any form, it will be disabled. Even going to Facebook groups to denounce, unmask, or thanks to the influence of the online community itself in order to claim justice, in many cases, “if you are punished, your mother will confess,” you are still the same person. most disadvantaged.
Therefore, when trading Forex you must know how to PROTECT yourself. And the best way to Protect is to find yourself a reputable forex broker to trade.
Criteria to evaluate a reputable forex broker
In fact, it is difficult to give specific criteria, because this depends not only on the forex broker but also on the trading purpose of each trader. Many traders love low spread forex brokers to surf, but many traders prefer to choose ECN forex brokers or ECN/STP types of accounts that only charge commissions for trading. Meanwhile, some traders prefer brokers with really high leverage, withdrawing money as quickly as possible… So whether you want to evaluate a reputable forex broker or not depends on the trading method of each person, no one is the same. . Here are some of the most basic criteria you can apply, when you want to find a reputable forex broker.
Time of establishment and operation of forex broker
Forex is inherently an extremely harsh market, especially more and more new exchanges are established, making the level of competition even more fierce. And which forex broker can keep operating for a long time, not subject to rejection from the market, is also one of the criteria to consider and evaluate the reliability of that forex broker.
Having operating licenses from reputable financial institutions
Before diving into the importance of finding a forex broker regulated by financial institutions, have you ever wondered, what is the relationship between the forex broker and you?
Regardless of the customer and broker trading relationship, the forex broker itself can be seen as a Treasurer who keeps a trader’s wallet!
What kind of person do you want your “treasurer” to be? Honesty, transparency or a scammer? Or when you want to withdraw money, but the “treasurer” finds every reason not to withdraw, or uses the deposit itself to do the opposite of the customer’s interests. Would you like to have a treasurer like that?
The answer is of course: No!
No one wants to have a cashier all the time looking to bust their wallets!
So, what do financial regulatory committees mean for forex brokers? Especially in helping traders find a treasurer who never tries to “embezzle public funds”?
Normally, to apply for a license, a forex broker will have to meet certain legal conditions such as:
Regulations on charter capital , the more reputable the organization, the higher this level will be. For example, ASIC will require a forex broker to have a capital of at least AU$1 million; FCA will require the forex broker to have a capital of 1 million pounds; with CySEC, the minimum charter capital will be about 50,000 USD.
This is only the minimum amount of capital required by the financial institution to operate from the forex broker. Of course, this is not all, the forex broker itself has to go through many other requirements before it is “watched” and approved by the financial committee.
Typically, the ASIC financial commission, before applying for approval, the forex broker is required to have an AFS license (Australian Financial Securities License) to be able to do business legally in Australia.
This AFS license is used by ASIC to assess the exchange’s capabilities for financial services, dispute resolution and regulatory compliance. In addition, AFS also requires that managers and key forex brokers have qualified training, supervision, risk management and human resources. In particular, when there is a conflict of interest management, the forex broker must know how to settle, compensate as well as resolve disputes in a satisfactory way. These are the basic criteria for AFS to license, any forex broker must have this license available, before applying to ASIC.
Not to mention ASIC also requires the floor to be “legitimate”, which means that it is required to have an office and headquarters, specifically here, located in Australia. In addition, the fee to apply for approval at ASIC is AU$50,000. It is not known whether ASIC nods or not, but once it is determined to submit an application at ASIC, it means that any forex broker will lose more than 1 billion VND in application fees!
In addition to the above capital-related requirements, financial institutions also force the forex broker to guarantee the interests of traders, with insurance for customers. In case when the forex broker goes bankrupt, traders are still entitled to compensation up to £50,000 statutory from the FCA or EUR 25,000 according to the law of CySEC.
Some financial authorities such as ASIC also require exchanges to join the Australian Financial Complaints Authority (AFCA), an independent dispute resolution body. In case, if traders and forex brokers have a dispute, cannot come to a common voice, traders can contact AFCA directly so that they can arbitrate and protect your interests. You can find out more information about AFCA here .
Regardless, once under the management of the management committee, the forex broker “several meals fortnightly” is required by the financial authority to submit a report for review. And in case of detecting fraud, the exchange is not only fined, but also has its license revoked. The most typical is the FXCM forex broker that has been fined $7 million by the CFTC financial commission , as well as stripped of its license to operate in the US.
Thus, it can be seen that the financial institutions have done a very important thing for the trader, which is to check the “pocket”, to see if the forex broker really has enough money, enough liquidity to pay when there is a problem or not. .
One point worth mentioning, most forex brokers are licensed by reputable agencies, are those with long experience in the financial market, which is also the first factor we mentioned above.
As you can see, in many cases, it is difficult for the exchange to get a license from the very beginning. Therefore, the time when forex brokers can own a license from a reputable agency, most of them have been operating for 8 years or more. The forex floor will have a certain degree of “maturity”, not like the young, new floors, so they are very professional in handling and resolving disputes. Even the exchange itself sometimes suffers losses to protect its reputation, like Exness once had to compensate customers with USD 15 million in the event that SNB (Swiss Central Bank) made the decision to cancel the exchange rate anchor. into the EUR and float the Swiss Franc (CHF), 2015.
And also because the stages of applying for a license are extremely cumbersome and confusing as above, the floor would rather operate “underground” than apply for a license!
Therefore, forex brokers are licensed by reputable organizations operating in the market for a long time such as: CFTC (USA), NFA (USA), ASIC (Australia), FCA (United Kingdom), BaFIN (Germany), CySEC …will hardly “do wrong”, is the best guarantee for you to “choose to send gold”.
In addition to licensing from the above agencies, you should also prioritize forex brokers listed on the stock market. Because the conditions for a company to be listed on the stock exchange will be much more difficult than getting a license from the financial commission, which not all forex exchanges can meet.
In particular, once it is listed on the floor, all business data such as profit, sales, and spread (cost difference) of the floor are transparent. From there, you can completely assess for yourself which forex broker has a good financial background, what the actual spread is, how the commission is paid, etc.
Fast withdrawal and deposit
This is probably also one of the very important criteria to evaluate a reputable forex broker. Because even if you are a superstar, win hundreds of matches, but the forex broker you trade has no liquidity, the money you earn is just meaningless. Therefore, a reputable exchange must have a withdrawal mechanism as quickly as possible. The average time when withdrawing money by Ngan Luong or Internet Banking to get money to your account is usually within 24 hours (excluding holidays or 2 weekends). With forex brokers that have a withdrawal time of 3 days or more (excluding holidays, New Year or Saturday and Sunday), you should probably find another broker to trade.
In addition, during the deposit and withdrawal process you also need to be aware of the fees. Currently, many international forex exchanges have offices in Vietnam, supporting customers with no deposit fees through electronic transaction portals such as Ngan Luong, help2pay, Skrill or via domestic bank cards, Visa card, MasterCard card. However, there is usually a fee when withdrawing, so please check if the withdrawal fee at the forex broker you are trading with is within your ability to accept.
Floors with no hidden fees included
Currently, forex brokers “live” mainly thanks to two main sources of revenue, commissions and spreads (the difference between buy and sell orders).
To meet the needs of traders, any forex broker has 2 basic account types: spread -only accounts without commissions. And the type mainly collects commissions, in return the spread will be much lower than the first account type.
See more: Top forex brokers with the lowest spread fees today
However, with accounts that collect commissions, they will often require a higher minimum deposit than the one that only charges a spread of 100 USD -200 USD or more (with a floor of 50 USD), depending on the requirements of each broker. forex.
Which type of account to use depends on the purpose of each person’s transaction, to find the most suitable fee. For example, for traders who love to surf, they often choose ECN forex brokers that charge a commission per transaction lot, instead of choosing account types that charge spread.
In addition, you also note about the swap fee (overnight fee) , depending on each currency pair as well as the regulations of each forex broker, there will be different swap fees. Therefore, when trading any pair, especially in the long term, it is necessary to carefully consider this fee. You just need to click on the currency pair and select the “properties” or “symbol properties” to check. Otherwise, it will take a small amount, on the contrary, if you know how to take advantage, you will make a lot of money from swap fees.
Enthusiastic support team especially with Vietnamese support
During the transaction, many problems will arise. Therefore, the criterion to evaluate a reputable forex broker is to have a Vietnamese support team. This helps a lot for traders, especially novice traders. You can take advantage of asking questions related to technical analysis, which sometimes have to spend a large amount of money going to outside teachers to answer. Most of the forex brokers have real trading experience, so they will understand the psychology as well as technical analysis to give you the most reasonable answers.
The most reputable forex brokers today
So, based on the criteria we mentioned above, you can find yourself a suitable forex broker, right? Or you can refer to some of the forex brokers below, selected by us based on real trading experience over the past ten years.
Opening an account at a forex broker is considered a beginner lesson, which anyone involved in forex trading must know. In fact, every forex broker has the same account opening steps and most of them support Vietnamese. Therefore, please be patient to do step by step to become proficient, if you do not know something, you can go to Google to search, or you can also watch the instructions to open an account on kienthucforex’s Youtube channel and follow. In case you don’t know, chat with floor support to ask them to answer your questions.
Each forex broker has its own characteristics and is aimed at a wide range of customers, so no forex broker is the same as any other. Therefore, we think that you should open an account at at least 3 different forex brokers , to evaluate, experience and decide which broker is most suitable, without having to listen to the words of trader A, trader B or trader C. All for reference, only you know what you need most!
Thanks to the ability to provide over 120 financial instruments, and the best market order matching available from 0.01 seconds, Exness forex broker has become a familiar name for many Vietnamese traders as well as traders. all around the world.
Another plus point that cannot be ignored is that this forex broker is extremely suitable for those who like to trade virtual currencies. In addition to no Swap fees, so that traders can hang orders “through the night” like many other cryptocurrency exchanges, Exness also supports quite high leverage up to 1:100 for BTCUSD currency pair. With the remaining pairs will enjoy the 1:20 level, so it is worth it for you to experience and try trading here.
- Detailed evaluation of Exness floor
- Instructions for Opening an Exness Exchange Account
- Instructions for Depositing and Withdrawing Exness
Licensing and regulation : Headquartered in Cyprus, Exness operates and is supervised by the CySEC (Cyprus Securities and Exchange Commission) agency itself.
Account type : Currently, Exness offers many different account types for you to choose from such as Standard and Standard Cent accounts and 3 professional accounts: Raw Spread, Pro and Zero with comfortable spreads, however is still stretched when the news comes out.
Deposit and withdrawal channel : This is the biggest advantage of Exness. Not only allows withdrawals and deposits without commission for most payment systems. And the super fast withdrawal time is less than 10 minutes, the money has been returned to the account (bank). In particular, Exness also supports traders to withdraw money even on Saturdays and Sundays, which no forex broker has done at the moment.
Support team : In addition to fast withdrawal, Exness forex broker also has a very large, enthusiastic and professional Vietnamese support team. If you do not want to chat directly, you can call the switchboard for advice at: 18004974.
Open an Exness account
Although it has established a solid position in the forex trading market and is highly appreciated by many foreign traders, XTB is still a completely foreign name to Vietnamese people. This is because XTB has not previously planned to develop in the Asian market. However, what XTB owns will really be the “desire” of many forex brokers, including the most reputable forex brokers today.
Licensing and regulation: With 16 years of leading experience in the European financial market, it is not difficult to understand why XTB owns many licenses from leading regulatory bodies such as IFSC, FCA, BaFin, etc. . But that’s not all that XTB has! The most important point that cannot be ignored is that XTB is listed on the Warsaw Stock Exchange. One thing not every forex broker wants is to be! If not, among thousands of forex brokers in existence today, XTB is one of the rare names that have reached this “realm”.
- Detailed evaluation of XTB . floor
- The most detailed guide to opening an account and depositing and withdrawing money on XTB floor
Because the regulations from listing shares on the stock exchange are much stricter than applying for licenses from reputable financial regulatory agencies such as ASIC, FCA or BaFin… Because forex brokers not only meet 1 The charter capital is quite large (this also means that the exchange has extremely high liquidity, more than enough to pay for customers, so traders will not have to worry about being run away by the exchange), but all books All financial statements must be transparent.
It is because in a chaotic financial world like forex, there are always a lot of “citrus” scam floors that only try to pickpocket customers, so that they can deceive traders the most with tricks such as: deliberately fixing candles, automatically close the trader’s orders, widen the spread with hidden fees or get requoted when you believe it… Then XTB is really a reputable forex broker worth your experience.
Products offered: XTB offers a wide range of trading products up to 1700 from forex, metals, cryptocurrencies, commodity index trading to stock CFDs… So XTB is fully capable of responding. Meeting all the needs of traders, even the most demanding traders will certainly feel secure and satisfied when trading here.
Account type: XTB offers 2 main account types: Standard account and Pro account. Both of these account types have extremely low minimum deposits of only 1 USD or more.
Deposit and withdrawal channels: Currently, XTB only supports withdrawals through channels such as Visa, Neteller, Skrill and Ngan Luong cards. But just having Ngan Luong portal is enough for Vietnamese traders! Because when withdrawing money using this payment gateway, you not only get free deposit and withdrawal, but also the time of money to your account is extremely fast, not as long as other portals.
Open XTB account
Founded in 2007, ICMarkets has become one of the reputable forex trading platforms trusted by the Vietnamese community of traders.
ICMarkets is based in Australia where many reputable forex trading platforms are located all over the world today.
Sponsored by one of the leading financial regulators ASIC, you can trade with complete peace of mind.
ICMarkets is not only a platform that offers a multitude of trading products, but also takes great pains to update typical new technologies such as cTrader. Or provide traders with a variety of free tools such as Autochartist software or signals from Trading Central to enhance their trading ability to generate maximum profits.
In addition, thanks to the application of advanced ECN technology, ICMarkets’ spread can be considered as the lowest among popular exchanges today. So ICMarkets is the optimal choice of scalpers (surfing) and day traders.
- Detailed evaluation of IC Markets floor
- Instructions for Opening an IC Markets Account
- Instructions for Depositing and Withdrawing ICMarkets
Trading accounts : ICMarkets only offers 3 main account types: Standard account, Raw Spread account (for MT4 / MT5 software ) and Raw Spread (for cTrader software). Although not as rich as many other brokers, with super low spreads, there are many pairs of zero, so this is the optimal choice for traders who like to surf.
Deposit and withdrawal channels : Support many different deposit and withdrawal channels for Vietnamese people such as: Internet Banking, Visa, Mastercard, Skrill, Neteller … The withdrawal time is quite fast, usually only 1 day, the money has arrived in the account. Please note, it is recommended to make a withdrawal transaction before 8 am (Vietnam time) so that the money will be returned within the day!
Support team : ICMarkets forex broker also has Vietnamese support, so even if your English is not good, you can rest assured. Just click on the Live Chat button at the bottom of the screen, and all your questions from opening an account to trading, withdrawing, depositing money… are easily resolved.
Open an ICMarkets account
Although there are many different reviews about FBS , this is still one of the most reputable forex brokers, traded by Vietnamese traders today. Thanks to the low spread (spread), which is almost the lowest among the exchanges played by Vietnamese traders today such as: XM, Fxpro, Exness … and many continuous promotions to attract traders, so FBS is always a name that many IB (Introducing Broker) or longtime traders (traders) suggest for newcomers to the forex market.
- Detailed evaluation of FBS . floor
- Instructions for Opening a FBS Exchange Account
- Instructions for Depositing and Withdrawing on FBS
Founded in 2009, headquartered in Belize, FBS is supervised by the International Financial Services Commission (IFSC).
Account types : Cent, Zero Spread, Micro, Standard, especially cent accounts are very suitable for those who want to change exchanges, test floors or test EA automatic trading.
Deposit and withdrawal channels : FBS allows free deposits and withdrawals through many different channels such as: Internet Banking, Visa, Mastercard, Skrill, Neteller (see Instructions for opening a Neteller account)… Both deposits and withdrawals are quite fast. less than 1 day you have received the money into your account after withdrawing. It should be noted that if you withdraw by wire transfer, you will have to withdraw from 50 USD or more according to the regulations at the FBS exchange. In contrast, with other forms, you can execute orders with only 1 USD.
Support team : FBS forex trading platform has many Vietnamese IBs so it is easy to support you whenever you want. In particular, the staff is quite professional and friendly. Not only that, there is also a support office in Hanoi, so customers can feel secure in transactions. When anything happens, the support team will always advise or answer you promptly.
Open a FBS account
5. ForexTime (FXTM)
Although newly established recently, ForexTime (FXTM) is loved by many traders, so you can safely open an account and trade here.
Similar to many other forex brokers, ForexTime is headquartered in Cyprus, one of the financial centers of the world today.
- Detailed evaluation of FXTM
- ForexTime (FXTM) Account Opening Instructions
- ForexTime Trading Platform Deposit Guide
ForexTime is licensed and regulated by the International Financial Services Commission (IFSC), the Cyprus Securities and Exchange Commission (CySEC), and the UK’s Financial Conduct Authority (FCA). )
Account Types : FXTM has a wide range of account types to support its users, of which ECN and Standard accounts are the most used by traders, thanks to their low spreads, and very pleasant commission fees of only $4/lot. .
In addition, FXTM also supports trading through the EA (Expert Advisors) system so that traders can refer to forex investment strategies from others.
Deposit and withdrawal channels : ForexTime also supports many different deposit and withdrawal channels with no fees such as: Internet Banking, Bao Kim, Ngan Luong, Visa, Mastercard, Neteller, Skrill. In particular, the fast withdrawal time is also a big plus of FXTM, sometimes it takes less than 10 minutes for you to receive the money in your account. However, if you withdraw to your visa card it will take longer, you should execute the order during office hours and weekdays so that the money quickly pours into your account.
Open an FXTM . account
With 10 years of experience standing in the forex market, XM is considered as the third largest Forex trading platform in the world in terms of growth rate. Although XM only offers MT4 and MT5 trading software , its fast execution speed, numerous branding campaigns and good trader bonus mode, have made XM.com one of the best brokers. The world’s most trusted forex trader.
- Detailed evaluation of XM . floor
- Instructions for Opening an XM . Exchange Account
- Instructions for Depositing and Withdrawing XM
License for trading registration : XM currently owns many different licenses such as CySEC (Cyprus Securities and Exchange Commission); IFSC (International Financial Service Commission of the Republic of Belize); ASIC (Australian Securities and Investments Commission); FCA (The Financial Conduct Authority – United of Kingdom), these are all reputable licensing agencies, so you can rest assured to open an account and trade at XM.
Types of accounts : XM broker has many different types of forex trading accounts for you to choose from: Micro Account; Standard Account; XM Ultra Low Account and Share Account (stock account).
Although the swap at this exchange is low, the spread is average, to be honest, it is not suitable for traders who like to trade in the form of scalping. But if you are into day trading then XM is one of the exchanges we recommend you consider. In particular, if you like trading stocks, then XM can also be a forex broker you should refer to and choose.
Deposit and withdraw at XM exchange : very fast and professional in addition to electronic deposit and withdrawal channels such as Neteller, Skrill, Visa, Master Card… XM has set up a deposit and withdrawal system with domestic cards through Internet Banking portal. for traders in Vietnam.
Support team : although XM does not have an office located in Vietnam, but you can still chat with the staff in Vietnamese, when there is a transaction, you can rest assured that you will receive support from XM.
Open an XM account
Questions about forex brokers
After reading it, I was so confused, which reputable forex broker to choose now?
The floor has been operating for at least 8 years or more; licensed by CySEC, ASIC; Deposit/withdraw money within the day; Support staff are Vietnamese; When believing that the transaction is stable, the spread is not too wide; When the floor has a problem, it is always responsible for the customer. The summary of the article is nearly 10,000 words, if you don’t want to read it, you can choose a reputable forex broker .
Is forex broker a scam?
Yes, especially with forex brokers that are not regulated by reputable agencies. The group of IB teachers and teachers freely threw around, launched martial arts moves, chiseled for “broken bones” traders, ran out of money, that’s all.
Can I get my money back if I was cheated by the forex broker?
Yes, get the corset back!
Break the job! Every forex broker offers a few products such as: gold, forex , stocks, cryptocurrencies, securities and all use MT4 or MT5. Choose what to do for fatigue!
So when you lose money because of a scam floor, please bear with it, don’t pour it at the number!
Having every choice of a reputable forex broker is already complicated. Prove that forex is too hard to play!
Right! But as long as ” souls fall into forex “, they are confused with no way out, hard to stop! So even knowing that, many traders still want to give all their money “offering” to forex!
In fact, the word PRESTIGE in forex is a relatively high concept. A forex broker may be suitable for this trader, but the same floor, with another trader, becomes a scam floor no more! Especially when there is a conflict, everything is not resolved properly, it is impossible to come to a general agreement between the trader and the broker. So the same floor, with eyes or things viewed from different angles, will lead to conflicting comments.
Honestly, to choose a reputable forex broker that works for everyone is almost impossible. That’s why we’ve come up with criteria for you to choose the most suitable floor for you.
Or, you can refer to the forex brokers we listed above. They are not only reputable forex brokers, but also suitable for novice traders, who are always in the sights of fraudulent brokers, offering enticing tricks to find ways to bait and pickpocket them. .
Therefore, these forex brokers not only satisfy the required criteria, but also have to help traders who do not have much experience and do not have much understanding of forex right from simple steps such as how to open an account, submit a payment. How are the documents verified? So the forex broker is both reputable and helps traders with all the above steps, which is also a point for us to consider and prioritize.
Choosing a forex broker is like choosing a means of transportation, or like wearing a shirt. Must fit people! Here it is to be consistent with your own trading plan.
Not only that, “settle to start a business” which is the criterion drawn by our forefathers for generations. Finding a reputable forex broker will help traders feel secure to hand over their wallets to the exchange, so that they can make profits in a harsh but extremely fertile market like forex.
In addition to providing reputable forex broker evaluation criteria, listing a list of good forex brokers, we also do a lot of reviews about other forex brokers, which you can refer to as below:
- See also: Detailed assessment of forex trading platforms in Vietnam
We hope you will find a reputable forex broker that suits you best. Good luck!