How to choose a reliable Forex broker without re-quotes, slippage, non-market quotes and other unpleasant surprises? Which Forex brokers can be trusted? Let’s give an opportunity to answer these questions…
Why should you trust ’s rating of Forex brokers ?
’s rating of Forex brokers is based on 20 independent objective criteria. The board of jury cannot influence the results. Therefore, the rating is unbiased and transparent (few ratings can boast the same features).
For example, if a certain broker is licensed and regulated by a major financial watchdog (like FSA) it gets 70 rating points. When a broker is licensed by Mauritius or Panama (like Broco) it receives only 3 rating points.
Each broker gets 5 point per each year of existence. For example, Forex.com has been in the industry for 13 years. Therefore, it receives 65 rating points (5 points times 13 years).
Another major criterion is the size of the spread. The tighter the spreads fro 5 major pairs are, the bigger the point bonus is. In particular, Forex MMCIS offers a 1-pip spread for EURUSD. Therefore, it receives 10 rating points. Fibo Group gets only 5 rating points as it offers a 2-pip spread for EURUSD.
Rating points are also given for the number of offices around the globe, international awards, PR in mass media, positive feedback etc.
Moreover, a certain broker may be deprived of 2 rating points for each specific complaint.
In order to qualify for the premier league of ’s rating of Forex brokers , a broking company needs to earn 350 rating points, which is not so easy. Only the industry’s best representatives can qualify. Obviously, it looks natural that Forex traders can trust those brokers.
’s Rating: Premier League
The current list of the industry’s best brokers looks as follows:
MIG Bank is #1. Traders from around the globe value the Swiss quality of the services provided by MIG Bank. This broker is regulated by FSA and FINMA. It has proven its highest standing in the rating by multiple prestigious awards:
· World Finance Awards 2011
· Best Forex Bank 2011 (Masterforex-V academy)
· Technical Analyst Awards 2012
· Global banking & finance review awards 2012
Forex.com is the runner-up. It has been among the world’s best Forex brokers for many years. It is regulated by FSA and NFA. Forex.com can boast such prestigious awards as:
· Forex Expo Awards 2010
· Middle East Online Trading Summit Awards 2010
· Investment Awards 2010
· Shares Awards 2010
· World’s Best Forex Broker 2011 ()
Which brokers has all chances to enter the premier league?
As you can see, the following brokers are viewed as candidates for entering the premier league of ’s rating of Forex brokers : CIM Bank, IFX Markets, MB Trading, CMS Forex, Manors Group Broker, Interactive Brokers, Admiral Markets, ICM Capital, CitiFX Pro, Panteon Finance, YouTradeFX, Alfa Forex (Alfa Bank) BrokerCreditService (BCS) Deltastock, ActivTrades.
