How to choose a suitable Forex broker? Thousands of traders ask this question every day. This was, is and will be some of the key problems for traders, especially beginners. Sometimes, even professionals choose the wrong partner who turns out to be a scam broker. When you cooperate with an unreliable broking company, it is irrelevant, whether you are a winning trader. Therefore, it is crucial to choose the right partner.
Still, beginners sometimes have difficulty telling scams from reliable brokers. How to find out which brokers are the industry’s best?
Looking For Best Brokers
According to Eugene Olkhovsky, Masterforex-V Academy’s leading experts in financial markets from Canada, in order to help beginning (and experienced) traders to choose a partner from the list of reliable brokers, Masterforex-V Academy created its own unbiased rating of Forex brokers based on objective quantitative criteria. Not so long ago, it added another nomination to the rating. From now on, the best Forex broker will be determined on a monthly basis.
For reference sake, in February 2013, when the new nomination was introduced, Alpari was recognized the best Forex broker.
New Criterion
Last month, Masterforex-V Academy decided to introduce a new extra criterion to make the rating even more objective and transparent. PR became an extra criterion. Why? It is because innovation is some of the key factors to consider when it comes to evaluating the quality of dealing offered by a certain broking company. Innovative solutions reflect the real state of affairs. If a broker is interested in cooperating with brokers, it will strive to make trading as comfortable and efficient as possible. Obviously, innovative solutions need promotion through various advertising and PR campaigns. This holds true for any highly-competitive industry. A wise and honest approach to promoting products and services may eventually help a certain company to win the hearts and minds of thousands (if not millions) of consumers.
When it comes to evaluating a certain company’s PR campaign, Masterforex-V Academy takes into account its overall activity, including advertizing, licenses, participation in major event, sponsorship, donation, workshops and trainings etc.
Best Brokers. March 2013
As of March 2013, Masterforex-V Academy determined the list of the best Forex brokers in March 2013.
In terms of the mentioned criterion (PR), the following broking companies were determined the best in March 2013:
· The first place is shared by Alpari and ActivTrades.
· The second one is occupied by Forex.com and FIBO Group.
· The third one is shared by RoboForex and Forex Trend.
As far as the overall rating is concerned (over 20 criteria), Masterforex-V Academy awarded Alpari with the “Best Forex Broker. March 2013” nomination. Active Trades was the best in terms of innovation. Both of them definitely deserved their awards by offering their clients competitive and efficient innovative products along with premium-quality services.
