The popularity of a certain broking company mainly depends on the efficiency of its PR and advertising campaigns in mass media. Mass media do know how to make a sensation out of a minor event.
For traders, this means the following:
If the PR campaign is efficient, the company attracts new clients, makes more money and flourishes. Alternatively, if the PR campaign is inefficient, the broker can eventually jeopardize its image and bright future, thus seeing a bearish trend of its development. If this is the case, traders should think twice before opening trading accounts with such companies as this may well be a wakeup call.
That is why included this aspect in the list of 20 criteria of its rating of Forex brokers .
What brokers are gaining and losing popularity in mass media?
The chart given below (courtesy of ) shows the current state of affairs for every broking company:
As we can see, in May 2012, the following broking companies were more frequently discussed or mentioned by internet resources.
1. The leaders: Forex club (718 references), Alpari (412), Saxo Bank (370), ForexTrend (312), MIG Bank (250) and FOREX MMCIS group (209), Nord FX (163), TELE Trade (140), FX Clearing, FXOpen (86), Manors Group Brokers (71). All of them showed an increase in the amount of references in the media.
2. The runners-up: Roboforex, Grand Capital, Forex4you, GFT, Alfa Bank Forex, FXDD, FIBO Group, Forex.com, BMFN.
3. The outsiders: Fx Pro (11), FXCM (8), OANDA (4), ICM Capital, UWC, Fresh Forex, AVA FX, Exness, Ducascopy, Lite Forex. These brokers should seriously think about the ways and means of increasing the efficiency of their PR campaigns.
Which brokers are determined to increase their share in the industry?
The following chart can help us to find it out:
1. Saxo Bank is the leader in terms of increasing the amount of references in mass media. The reasons are the brokers’ various shocking forecasts for the market of gold, crude oil, euro, US unemployment, economic disasters in Greece along with Saxo Bank’s sponsorship. However, lots of clients complain about the quality of dealing. That contradiction resulted in the 11th place in ’s rating.
2. MIG BANK. Unlike SaxoBank, MIG BANK has no negative feedback. That is why it is the leader of the “Best Broking Bank 2012” rating.
3. TeleTrade did a lot to consolidate its position in the industry, including the introduction of riskless deposits, personal TV.
4. ForexTrend consolidated its position as well. It revolutionized the industry by introducing PAMM indexes. It was recognized the Best PAMM Broker 2012.
5-6. Alpari and Forex club. Even despite the fact that Forex club was mentioned 718 times (as opposed to Aplari’s 412), traders acknowledged that the quality of Alpari’s dealing was better than the one of Forex club. Moreover, Alpari was the runner-up in several nominations:
· Best Micro broker 2012
· Best ECN Broker 2012
· Best PAMM Broker 2012
Which brokers are seeing a downtrend?
The cart below shows that:
According to Eugene Olkhovsky, ’s leading expert in financial markets form Canada, if these brokers underestimate the roles of PR in mass media and do not see any achievements, than why and how do their potential clients can see their strong sides?
Market Leader and would appreciate if you could participate in a survey. Please, visit the Academy’s forum for traders and investors and answer the following question:
In your opinion, should brokers pay attention to their popularity in mass media?
