Dmitri Lysenko
News of forex rating of brokers. The quality of dealing is one of the main criteria for the assessment of any forex broker.
No trader would like the chosen broker to enable closing transactions (evidently making a profit, but not a loss), apply regular gapping even when the market is rather calm (due to which Euro/dollar spread will rise from 2 points to 15-20 points), regularly bring non-market quotations into its trading terminal in order to knock down stops, holds back (or even annuls by some invented or flimsy pretext) the earned profit, DC technical support and client’s department are rude to and offend their clients-traders, etc.
Would you like to open a real trading account in such broker company? Certainly, not.
So, which of over 300 forex brokers (of Russia, Ukraine, USA, Canada, Great Britain, and other countries) have the highest and the lowest rating in rating of forex brokers?
A photo of non-market break down of stops by broker companies Alpari, Broco, Saxoban, and other leaders of “The black list of forex brokers and DC”:
A logical question to traders: is it possible that having such quality of dealing, a trader can count Elliot waves, keep a chosen forex strategy, find trend reversal or continuation, and, most important, is it possible to earn by working with a broker, who regularly knocks down stops of its own traders?
Whose traders are angry with their own forex broker?
As the leading Canadian financial expert Yevgeniy Olkhovskyi explained to “Market Leader”, traders primarily have to develop not an emotional, but an absolutely calm and objective attitude to brokers with a clear understanding of their strengths and weaknesses, which this trader will have to face when opening a real account in the DC. Therefore, it is important to understand
■ what are the typical trader claims about the quality of dealing?
■ what DCs receive most claims?
According to the results of a poll among forex traders, the lowest points (on a 5-point scale) in the international rating of rating of Forex brokers were received by the following dealing centers in Russia and worldwide:
As observed from the rating, such broker companies as Forex club, Admiral Markets, Finam, FxPro Group Lt., TeleTrade, LiteForex, and Alpari have the lowest quality of dealing, according to questioned traders.
As explained by Yevgeniy Olkhovskyi, complaints about the quality of dealing mostly concern the following problems of DC’s work:
■ complaints about operation of trading terminals (frequent buzzes, faults, unstable connection). Such complaints have been addressed to such DCs as LiteForex, Alpari, UWC (United World Capital), Admiral Markets, and others;
■ non-payment of profit to personal traders (such broker companies as Ikon Group and Broco failed to pay to their traders – graduates of ),
■ claims about handling orders, technical support, and delayed payments (to such DCs as Alpari, LiteForex, Forex club, and some other).
Which forex brokers have received top points from their traders for honest and high-quality operation of trading terminals and DC in general?
As observed from the table, traders have again given the highest point for the quality of dealing to Nord FX, whereas FIBO Group falls behind slightly. The leader of broker rating at FOREX.com occupies the third position.
High points have also been rightly received by such brokers as ForexTrend, MIG BANK, EXNESS, block house Dukascopy Bank SA, and FreshForex company, which is becoming more and more popular among forex traders.
A questionnaire of “Market Leader” Magazine and in Forex forum: how important are traders’ personal assessments and feedbacks when choosing a forex broker?
- Feedbacks are one of major criteria, which is enough to make the right choice;
- It is a second-rate criterion, for many men, many minds, just as insults for a lost deposit in the DC;
If you want to make the right choice – have a complex approach to assessing DCs (feedbacks, licenses, work experience, etc.)
Dmitri Lysenko
