It is not an easy process to select the most suitable Forex broker who will serve as a guide towards your financial success in the Forex market.
To find a Forex broker that you can rely on, you need to devote a significant amount of time and possibly even several days to researching a number of different companies and reading reviews written about their services. But Surprise! Traders Union has completed the task in its entirety on your behalf.
Our website offers a service that streamlines the process of choosing a broker, which will help you save time and avoid irritation. In addition, the process of analyzing the foreign exchange market will be condensed to only a few minutes of looking at our unique ratings list.
Choose right away from among our top-most winners if you are not very picky about the details of your purchase.
The top brokers on the list compiled by Traders Union have a strong rapport with the customers they serve and adhere to stringent criteria in order to meet their trading responsibilities. You can obtain in-depth information about any broker on our list by going to that broker’s “Profile” and clicking on the button there. Because everything is checked against one hundred different criteria, the information is objective. There are dozens of reviews available online written by traders who used that broker.
Over the past ten years, the analysts here at Traders Union have been conducting research into the many forex brokers operating in the market while also compiling reviews of each broker and publishing them on our website. Therefore, on the website of Traders Union, you will be able to locate all of the reviews regarding any Forex broker in a single location at once. Information regarding the ranking of Forex brokers in the market is kept up to date on a regular basis by the Traders Union.
Because the Traders Union has access to the trading characteristics of its members, the rating of Forex brokers was produced with those factors also taken into consideration. Nobody else in the foreign exchange market is in a position to examine data from tens of thousands, or hundreds of thousands, of dealers at the same time. For this very reason, the ratings of Forex brokers provided by Traders Union are the best and most objective ratings system for Forex brokers that are currently available.
• XM Group
• EXNESS Group (acronym)
• IC Markets
• Admiral Markets UK
• The Interactive Brokers Group Inc.
• Swissquote Bank SA
Traders Union’s instructions for conducting data analysis on individual businesses
The table that follows contains a list of the most reputable and successful brokers operating in the foreign exchange industry. The companies that now hold the most significant market share are at the top of the list since they have the highest average aggregate score. After that, brokers are ranked according to how popular they are.
You can learn more about each broker by opening the popup window that appears after clicking on the button labeled “Profile and reviews.” On the website of the broker, you have the option to quickly open a real account or to practice trading for free using a demo account.
How do you pick the right broker for your needs? List of the best Forex brokers
When searching for the right broker to meet your requirements, you should give careful consideration to the following corporate parameters:
The presence of the broker in the foreign exchange market.
If a brokerage firm has been operating for a longer period of time, there will be more testimonials and evaluations from its previous customers. In addition, a firm has a tendency to place a higher value on its reputation the longer it has been in business, which indicates that it is more likely to meet the commitments it has made to its customers.
To ensure the safety of traders and the money they invest, only reputable brokers can obtain licenses, and once they do, they are subject to stringent regulation by independent government watchdogs. Because the cost of maintaining a license is high, not all businesses are able to afford it.
Location of the broker’s physical and representative offices, as well as the country in which the broker is registered.
When looking for a trustworthy broker, representative offices and broker offices are both essential components to consider. The company’s pace and dedication to the brokerage profession is characterized by a branching network of representative offices, despite the fact that an increasing number of brokers prefer to maintain online contacts with their customers.
Trading conditions offered by Forex brokers.
Every brokerage firm makes available to its customers a range of trading circumstances that are designed to attract and retain customers, such as low spreads, a wide selection of financial instruments, supplemental assistance, and incentive programs. In the process of choosing candidates, one of the most essential considerations is the combination of perks that are provided.
Help for customers and high quality of service.
When determining the dependability of a broker, one crucial factor to consider is how quickly the customer support department answers to a customer’s inquiry. The best businesses are always prompt in their response to every client’s inquiry and make every effort to handle their problems in the least amount of time feasible while maintaining the highest levels of courtesy.
Feedback provided by traders regarding the Forex broker.
Customers of a Forex broker who are already using the broker’s services might provide valuable information regarding the reliability and professionalism of the broker. Before publishing our ratings, we investigate each company’s reviews and make sure they are accurate.
The position that the company holds in the Forex ratings maintained by Traders Union.
When making your choice, it is important to take into consideration this criterion because the position of the broker in the Traders Union’s Forex broker rating reflects the outcome of an audit that was based on more than one hundred objective characteristics and was performed in comparison to other brokers.
The methodology behind the formation of our rankings of Forex brokers
We examine and assess each broker using more than one hundred objective criteria, which ultimately results in an average score for each Forex broker that characterizes all aspects of its operation. Additionally, we take into consideration its trading volume, information that is available to us as a result of the hundreds of thousands of traders who are members of our Union. We also take into consideration the reviews that other traders have left on brokers that we have curated here on our website. As a consequence of this, and in accordance with our one-of-a-kind computational matrix, which is utilized by each and every organization, our software objectively computes the overall average for each company as well as its position within the ranking. Because of this, our rating system on the forex market is both the most objective and unbiased there is.