The forex market is very complicated for everyone, included beginners or experienced traders. When you are in forex market, you will have a lot of questions, such as: “What are the 5 top largest forex brokers?” or “What are the top reliable or best forex brokers? And to answer those questions, it’s quite hard if you don’t know anything about forex trade.

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We search some information online but it’s not reliable. For example, when we search: “top largest forex brokers”, and we find Hotforex, ICMarket, FBS, or FXTM in those lists. We know about them. They are just new brokers and their market focuses on some countries in South East Asia and Africa. They are not top largest forex brokers.

We have chances to trade and work with a lot of forex companies in the world. However, it’s hard for us to know anything about five top largest forex brokers, because we still didn’t have enough 100% data to rank. Luckily, we didn’t give up. We spent a lot of months researching and contacting some brokers to have the most exact and objective results. And good news is that you can place your trust on our list.

After all, we have a list of the 5 largest forex brokers in the world. We’re happy to share this with you.

Keep in mind that, this list is based on Forex trading volume only, so those big brokers who have low forex trading volume won’t be listed here.

  1. Exness.com: $395 Billions.
  2. XM.com: $320 Billions
  3. Forex.com: $300 Billions
  4. Saxo Bank: $300 Billions
  5. FXCM: $220 Billions.
  1. Which standard to rank the largest forex brokers?

Some brokers are ready to publish their trading volume. To have more trust, they were audited by the top 4 audit companies. My suggestion is to trade with these brokers because it’s evident and safe. However, some brokers don’t want to publish their trading volume, but I have methods to find out. I used some reliable resources such as statistic websites, financial news, and newspaper.

Some big brokers have a very high total trading volume such as: Forex.com and Saxo Bank but their forex volume are lower. Do you know why? They have provided many products like Crypto, Forex, Future, Commodities, and Stock… The total volume is high but Forex volume is lower.

Example:

Forex.com’s total trading volume is $500 Billions, but Forex volume is $300 Billions.

Saxo Bank’s total trading volume is $600 Billions, but Forex volume is $300 Billions.

  1. Why should we trade with these largest forex brokers?

For beginners or experienced traders, they don’t have a deep and thorough understanding of forex market. While, a lot of scam brokers always use trickery to steal your money at all costs.  They will use bad and hidden tricks. If they have any intention of cheating you, you will never escape from them.

And bad news is that we can’t identify a scam broker in the beginning. They are very cunning. They will let you win at first time. This progress happens logically and naturally. When you win, you will want to deposit more. They tend to allow you win some times of trading forex. They aimed to building your trust and confidence. As usual, you will take precautions in the beginning. But later on, your awareness will be lost, so scam brokers will take everything from your account.

And the only way to avoid scam brokers is trading with the top largest brokers.

When they are largest forex brokers, hundreds of thousands of traders around the world will know them. Every action will be tracked and if something wrong happens, you will be aware of that kind of broker.

Only the best brokers can be largest brokers. Nowadays, we can share everything on the Internet and social media. So scam brokers can only cheat you once. There won’t be a next time for scam brokers to cheat you. Only reliable brokers can grow and become the largest forex brokers.

  1. Which brokers should we trade with?

You can see, most brokers in the above-mentioned list are American and European brokers. So, if you are living there, it may be good and lucky for you. But what if you live in Asia, Africa, and Australia? Although they are all reliable forex brokers, we need to check more things like:

  • Whether they are regulated in your countries.
  • Can we deposit and withdraw by local payment systems?
  • Do they have local support or languages?
  • Do they have trading forex license?
  • Is your service available to help you with your questions?
  • How about trading conditions: spread, margin leverage, commission/fees/deposit, bonus or rebate?, such as: Exness accounts, Exness spread, Exness leverage

So, if you are living in Asia and Africa, Exness is the best choice for you.

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If you are living in US, Forex.com is the best option. They are reliable and leading in the US market.

If you are living in Europe, Saxo Bank and Exness are the best.

Let me say once again, here is the list of top largest forex brokers you can trust to trade with:

  1. Exness.com: $395 Billions.
  2. XM.com: $320 Billions
  3. Forex.com: $300 Billions
  4. Saxo Bank: $300 Billions
  5. FXCM: $220 Billions. 

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