«Market Leader» - news and previews making you rich.

• Book 1
• Book 2
• Book 3
• Masterforex-V Trading Academy Forum

Best and Worst Broker Banks of 2012 – Who Are They?

17 January 04:06 PM

News of Forex Broker Rating. On January 16, 2012 Masterforex-V Trading Academy started a vote for the best broker bank worldwide in 2012, which is an absolutely new and unique rating. Open vote of forex traders will decide which of 15 well-known Russian and world banks, suggested in the list, is the best. But, why are the banks’ positions different at the beginning of the vote? Thus,
■ Swiss MIG BANK has 588 starting points, occupying the first line in the table suggested for voting;
■ another equally well-known bank is also Swiss – Dukascopy – has 525 points (2^nd position at the start of the vote);
■ Danish Saxo Bank – 3^rd line, having 345 points
■ our native broker banks, Alfa-Bank and Nefteprombank, occupy only 9^th and 10^th position, whereas SMP bank occupies pre-last 14^th position.

Is it fair? These questions have been asked by the journalists of internet edition “Market Leader” to a jury member  Evgeny Olkhovski, famous Canadian financial expert of Masterforex-V Academy.

Shall different broker banks have different opportunities at the start of mass voting?

As explained by  Evgeny Olkhovski, it is fair. The first line with certain points in the suggested voting shows the number of points, which a broker has earned in the general forex broker rating at Masterforex-V Academy, according to 20 independent criteria of its work (licenses, time of work at the market, size of spread, quality of dealing from the point of view of forex traders, etc. – for more details see the principles of assessment of forex brokers in Masterforex-V Academy rating.

If a broker wants to have a better position in the rating – it makes smaller its fee or spread (another 5-20 points for every currency pair), verifies the fact that it has received another stock broker license (30-70 additional points), or high international award (another 10 points, etc.). And on the contrary, if in 2012 the quality of dealing at one bank or another gets worse, its license will be taken away, it will receive demerit points for complaints from its clients – traders – about the quality of dealing. As a result, the number of its points in the general forex broker rating will automatically fall, and, consequently, his position in the vote for "the best broker bank of 2012".

In December 2011, according to the results of such rating, Masterforex-V Academy has already presented the best forex brokers of 2011 with cups. This year, in 2012, we are making another step forward – we are introducing a direct vote of forex traders, who choose not only best, but also worst world brokers of 2012, discussing its strong and weak points. This is done in order for every trader that decides to open a real trading account to be able to do it in a conscious and objective way.

What other terms of choosing best brokers of 2012 will be introduced by Masterforex-V Academy?

  Evgeny Olkhovski has stated that it will be kept secret yet, but will be revealed in the nearest future.

Why have we started the vote with broker banks? The matter is that while choosing a market representative numerous professional traders prefer banks to dealing centers, as banks provide forex and stock exchange services for private and corporate clients, as well as for Dealing Centers. Over 20 graduates of Masterforex-V Academy have suffered from non-payment of profit from DCs (for more details see sub-forum on Blacklist of brokers and DCs prepared by Masterforex-V Academy); however, there was no bank in the list – that’s for sure. Broker banks receive liquidity "at first hand" and often provide liquidity for ordinary brokers and DCs.

Unlike dealing centers, broker banks always give entry to interbank liquidity; therefore, if manipulations with quotations do exist, their number is much less than in DCs. Consequently, professional traders who work with large-scale assets, as well as brokers themselves, prefer opening an account in broker banks.

Who can take part in the vote for the best broker bank of 2012, and how is objectiveness ensured?

Any trader can take part in the vote after a free registration at Masterforex-V Academy forum, which takes only several minutes. While choosing the best broker bank every trader has 2 votes: one – for the best, another for the worst broker bank.

This is done in order to prevent driving up the number of votes. Because of this, the process of voting is rather complicated so that as soon as login and password are entered at the forum of the Academy, every participant has only two votes – one "For" and one "Against" a certain broker bank.

How are worst broker banks defined?

Best and worst broker bank of 2012 will be automatically defined according to the results of internet vote at Masterforex-V Academy forum for traders and investors. Two banks that receive least points will automatically enter the "black rating" of Masterforex-V Academy and will take part in the nomination "Anti-Broker of 2012" together with DCs.

As you can see, your votes will be decisive for awarding the main prize – the title of “Best Broker Bank of 2012”. This is why Masterforex-V Trading Academy is inviting all enthusiasts to register at the forum of the Academy and take in the open vote for the “Best Broker Bank of 2012”, which was started on January 16.

“It is up to you, forex traders, to decide on the best one”, concluded  Evgeny Olkhovski.

“Market Leader” Magazine and Masterforex-V Trading Academy hold a questionnaire at Forex forum for traders and investors: in your opinion, is it fair that while choosing the best broker bank worldwide Masterforex-V Academy has given different starting positions to the banks, judging from the size of spread, licenses, time of work at the market, etc.
■ fair
■ not fair

You are free to discuss this article here:   forum for traders and investors

Got a question? – Ask it here »