In order to be successful at forex market, beginning Forex traders are highly recommended to open their first real accounts with minimal trading deposit. These days beginners at forex market are provided with such type of service as micro account (from 1 to 50 dollars). Micro brokers help newcomers to adjust to trading real money. Micro broker is to have a number of major advantages: reliability, authority, and popularity among newcomers and experienced world traders alike.
So, which micro brokers are the best and most popular among traders in Russia and CIS countries, according to the most authoritative and independent forex broker rating at , which ones are average, and which ones are real outsiders in the nomination “Best Micro Broker 2012”?
CIS traders chose the most reliable micro brokers
In rating micro brokers are represented in a separate nomination “Best forex training project in Europe”. Beginners are suggested to open a micro account (from 1 to 50 dollars), as small deposits almost exclude the risk of failure while holding a trading strategy at forex market, as stated by financial expert of Evgeny Olkhovski in his exclusive interview to the
“Market Leader”.
After successful transactions with small deposit traders bring high profit to their broker companies. Therefore, micro brokers include such large-scale companies as Forex club, Alpari, BMFN, FIBO Group, and FXDD.
In order to define the world leader at the market of financial services, has held an open and clear poll, which enabled forex traders to follow the process of choosing the best micro broker on line.
According to the results of the open poll, micro brokers have the following positions:
■ as the table shows:
- the top three starts with broker company Nord FX, which proves its high title of “Best World Broker by Quality of Dealing 2011”. This micro broker has been working with private and legal persons since 2008. The company suggests signing contracts on precious metals difference and futures for goods and energy products at international forex market. Branches of Nord FX are located in Russia, Spain , Indonesia, China, and other countries. Nord FX is popular not only among newcomers, but also among experienced sharks of financial market.
-another leading position is occupied by one of the largest and most famous broker companies Alpari. First line support service has enabled the company to make its first steps at FOREX market in 1999. Alpari ha later been reconstructed into Internet broker. In 2001 – 2003 its branches started appearing in Russia. Branches of Alpari are located around the globe.
- FX Clearing, one of the largest primary brokers of Western hemisphere, has 3rd position at the rating of leaders. This Canadian broker company is famous for providing interest-free Muslim accounts. Its other feature concerns Nano-center and 100% repayment in the course of trade. Branches: Ukraine, Egypt, Poland, China, Indonesia, and Malaysia.
Which “averages” have high chances of entering the premier league?
■ “averages” among micro brokers. Such companies as FX Open, RoboForex, LionStone, and Forex4you are rather serious brokers at Russian forex market; each of them has its own competitive advantages. Their only weakness is the fact that they do not specialize on providing micro account services; in other words, this is not the major direction of their broker activity.
For example:
- FX Open is the best ECN broker worldwide (see “Traders’ Opinion: World’s Best ECN Broker 2012”); the niche of micro brokers is additional for it, and it does not strive for leadership;
- the same concerns the company LionStone, which specializes on large-scale accounts and investors’ means, as well as holding international contests among investors (see “Lion’s Cup or Which Trader will Earn 100 Ths. Dollars?”).
Therefore, according to experts, two companies – RoboForex and Forex4you may make claims for leadership, as this niche is major for them:
- broker company RoboForex specializes on automatic forex trading or trading by the assistance of advisors. The company is the world’s leading forex broker in this niche. It was for a reason that in 2011 RoboForex won the honourable cup titled “World’s Best Broker to Work with Robots and Forex Advisors” (see “ Rating Calls Best World’s Brokers 2011”).
Therefore, according to experts they are top competitors for the title of “Best Micro Broker”.
Outsiders of the Rating: Having Branches Around the Globe, but Small Popularity in Russia
■ “outsiders” among world’s micro brokers include the companies that are not recommended for operation at currency market because numerous claims from traders:
- little publicity among forex traders;
- traders’ claims to brokers;
- disadvantageous conditions or such that are non-competitive in comparison to others;
- available opportunities are lower than other micro forex brokers of the niche have.
Experts’ opinion: high quality is not enough to succeed among CIS traders
“The abovementioned world rating shows that much effort is needed for a micro broker to remain within the trend of forex market,” explained Evgeny Olkhovski in his exclusive interview to the
“Market Leader”.
High quality and guarantees is not enough here, though being an important constituent of good reputation. One has to suggest and popularize its services in trading circles. Sometimes many brokers stay in the background because of a lack of positive feedbacks not only in media, but also at forums, despite the fact of providing good terms for traders.
Some brokers attract pr-specialists, who do their business well, but fail to bring popularity to the company, as the high number of bad feedbacks and publications result in no desire to cooperate with the company or even fear. This is worth consideration, as communication constituent is highly developed among traders, and brokers have to maintain their reputation no matter which niche they occupy today.
Market Leader and hold a questionnaire at Forex forum for traders and investors: in your opinion, which micro broker is most reliable for a beginner at currency market?
− micro-broker, which ads are most frequent in the Internet and media;
− micro-broker, which has most positive feedbacks from forex traders;
− micro-broker, which occupies a leading position according to the 20 criteria of rating of forex brokers .
