There is a lot of discussion about brokerage regulations discussed in various forums. They said they chose the largest forex brokers in the US because they trusted the US financial management system. Then how about Singapore, Japan, AU, Hongkong, and the UK? They are also good and a lot of other brokers also gain trust and license. However, US and UK regulations are better. If a forex company can get hold of any of these regulations, it means their trading platform, their technical, financial health, and management are all in good shape. Due to it is not easy to get this license. The broker must meet all the qualifications of these regulations to be licensed. Additionally, you may also want to visit http://www.wvwv.org/forex-brokers/largest-forex-brokers.html if you want to know more about the largest forex brokers.
However, that doesn’t mean that brokers that don’t have the US, UK regulations are unreliable or less reliable. However, the reason is that they have no business in the region. Asia is the second-largest forex market in the world. So, many brokers become some of the biggest forex brokers just by serving this market like Exness. Exness is one of the largest retail forex brokers today. One of their volumes was nearly $ 400 billion, and 99% of this volume came from Asia. Knowing this is necessary if you want to consider forex brokers by volume before you choose one. They do not have a US license. This is not a problem because they do not do business in the U.S.
If you are an Asian and African trader, I do not recommend that you trade with US and UK brokers. It’s because their spreads and commissions are much higher than some of the biggest forex brokers from other continents.
Rules are very important. If our country has regulations, we have to trade with brokers who have different regulations with our country. However, if our country has no regulations, it means that no matter how many licenses the brokers have, they will not protect us. In this case, we have to choose the biggest forex brokers that have 1 trusted regulation, which is enough. These regulations can be similar to those of the US, UK, AU, JP, Hong Kong, Singapore, and CySEC. All of these are trusted regulations.