AdminAsia continues to be one of the most exciting regions to trade forex due to emerging markets. With the rise of retail Forex and CFD trading globally Asian Forex traders are one of the most active participants in the Forex industry.
In comparison to European brokers, Asian brokers are well-known for their flexibility in trading conditions. All registered Forex brokers in Asia are required to abide by the specific rules proposed by the several high-level regulatory organisations in the region. These organisations largely establish the legal framework needed for traders to conduct business with reliable Asian Forex brokers.
There are a number of aspects to consider when looking for the right brokers. It is important to make sure to deal with a broker who offers a high level of security. The cost of the brokerage services should also be considered by traders.
Furthermore, the best brokers should also provide cutting-edge trading tools and superior trading environments, such as MT5 or WebTraders. They should also offer free educational materials and a dedicated customer service team.
After significant research on a list of brokers in Asia that are the ideal choice for both new and experienced traders, we have listed the top 5 brokers in Asia below.
RoboForex
RoboForex has more than 4.56 million clients in almost 169 countries. It has won numerous prestigious awards, including the “Most Trusted Broker” Award from International Business Magazine, the “Best Investment Products” Award from Global Brands Magazine, the “Best Mobile Trading App” Award from Global Forex Awards B2B, the “Most Transparent Broker” Award from World Economic Magazine, and many more.
RoboForex is regulated by the Financial Services Commission (FSC) in Belize.It also has a Civil Liability insurance program with a limit of 5 million euros that includes coverage against omissions, fraud, errors, negligence, and other risks that could result in financial losses.
The broker offers a wide range of accounts which cater to all levels of traders including novice to the experienced. It has advanced accounts such as the R StocksTrader and ECN Accounts for “seasoned” traders.
The platform leads in terms of educational resources provided, offering economic calendars and analytics centres in addition to the plethora of materials offered by the MetaTrader suite. This includes instructions on how to get started trading which is listed on its website for newbies. There are also demo accounts available for all but the ECN account.
RoboForex does not charge commission fees on its most popular Pro account. Among the assets available are indexes, stocks, CFDs, commodities, metals, and ETFs.
Overall, RoboForex is a reputable broker that offers a wide range of products, account types, and educational resources to its clients, especially in the forex Malaysia markets.
AvaTrade
AvaTrade was established in 2006 and is regulated by a number of top-tier financial institutions, including the Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC).
The platform offers a simple and fully digital account opening process with a variety of deposit and withdrawal options that are all free of charge. You can start trading literally in minutes with only the required minimum deposit of $100 via credit/debit cards, wire transfers or e-wallets.
AvaTrade charges low CFD and average forex fees. It is simple to calculate its transparent trading costs with the helpful Forex Calculator. However, the inactivity fees at AvaTrade are quite high, while the forex fees are also quite average and are built into the spreads.
The web platform is well-designed and user-friendly, but it lacks customizability, two-step login, and price alerts. AvaTradeGo, the company’s modern and user-friendly mobile application, has a good set of features, including the AvaProtect insurance scheme.
The brokerage offers a wide range of accessible research and learning resources that are packed with high-quality educational content. It provides a decent news feed, trading ideas, a demo account, and everything in between.
XM
Another well-known brokerage in Asia that provides a safe and open trading environment is XM. The Cyprus Securities and Exchange Commission, the Australian Securities and Investments Commission, the Financial Conduct Authority, and the International Financial Services Commission are just a few of the reputable regulatory bodies that oversee the broker.
One of the platform’s unique features is the availability of Islamic trading accounts for Muslim traders from Asian countries. The XM Islamic account was named the best Islamic account of 2020. This account type complies fully with Shariah laws, and clients are not required to pay interest rates.
Customer service for the broker is offered in a variety of languages, including Chinese, Arabic, Japanese, and South Korean. Additionally, the broker accepts a variety of base currencies from traders in Asia.
Asian traders just need a 5 USD minimum deposit to begin trading with XM.
Additionally, all newly registered Asian clients will receive a 30 USD no deposit bonus from the broker with no investing limitations.
Exness
Exness was founded in 2008 and has since attracted over 1.8 million registered customers from all over the world, with over 470 billion in monthly traded volume.
It is regulated by financial institutions from 7 countries including Seychelles Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC), The Financial Conduct Authority in the United Kingdom (FCA), South Africa Financial Sector Conduct Authority (FSCA), Central Bank of Curacao and Sint Maarten (CBCS), Financial Services Commission in British Virgin Islands (FSC) and Financial Services Commission in Mauritius (FSC).
The broker is a part of The Financial Commission Compensation Fund and maintains customer funds in separate accounts. Additionally, Exness offers negative balance protection to raise the bar for security.
Registration, deposits, and withdrawals are all instantaneous, and customer service is always available to assist. To accommodate different types of traders, the broker offers Standard and Professional account types. A deposit of at least $200 is required to open a Pro account while the Standard account requires a minimum balance of $10, depending on the payment system.
Registration, deposits and withdrawals are executed instantly with the customer support always ready to help.
The broker provides Standard and Professional account types to suit various types of traders. In order to be able to open a Pro account you need to deposit at least $200. As for the Standard account, the minimum amount is starting from $10 and the amount depends on the payment system.
While spreads and commissions vary between accounts, they are generally very reasonable. The broker offers an unlimited amount of leverage. Exness Group offers a full range of MetaTrader platforms in addition to an intuitive, specially designed Exness Terminal.
FXTM
ForexTime (FXTM), founded in 2011, is regulated by CySEC (Cyprus Securities and Exchange Commission), the South African Financial Sector Supervision Authority (FSCA), the UK Financial Conduct Authority (FCA), and the Mauritius Financial Supervisory Commission (FSC).
Over 2 million traders have joined the brokerage as a result of the excellent commission-based Forex pricing and open environment it provides. It has won numerous accolades, including “Best Trading Conditions” in 2018 and 2019.
FXTM offers its services in 150 countries and guarantees the safety and security of its clients’ funds by keeping them in separate accounts.It has an upgraded MT4/MT5 trading platform as well as a proprietary mobile trading app.
FXTM actively employs cutting-edge technology to provide the best trading conditions for both novice and experienced traders. New customers can open a Micro account with a $10 minimum deposit. It also offers high-quality market research and educational content to new traders.
Conclusion
Even though half of their clientele is from Asia, all of the brokers discussed in the article are well renowned for offering the same high level of service to traders everywhere. They are recognised to go above and beyond to give both new and existing clients the finest trading experience, and they satisfy the criteria outlined at the beginning of the article.
The best way to find a high-quality Asian brokerage is to look for an internationally acclaimed and credible Forex broker who is licenced in multiple jurisdictions. The broker should be registered and licenced, and the name of the broker should appear in the database or directory of the relevant market regulator.
C. Khor
