How to choose a reliable broking company in the Forex industry? Thousands of Forex traders ask this question every day. This will always be one of the key issues for traders, especially newbies. Sometimes it happens that even professionals choose the wrong partner who turns out to be a scammer. When you work with an unreliable broking company, it becomes secondary whether you are a winning trader. Therefore, it is crucial to choose the right broking company that won’t let you down…
Still, beginners sometimes have difficulty telling scammers from reliable brokers. How to define which brokers are the industry’s best?
Looking For Best Brokers
Eugene Olkhovsky, Masterforex-V Academy’s leading experts in financial markets from Canada, says that in order to help beginning (and experienced) traders to choose a broking company 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 expanded the list of the criteria.
New Criterion
A couple of months go, Masterforex-V Academy (Europe’s Best Forex Training Project 2009-2013) 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 advertising, licenses, participation in major event, sponsorship, donation, workshops and trainings etc.
Still, Masterforex-V Expo includes a lot more ratings composed for different regions. In particular, there is a rating of the best brokers in the CIS (Commonwealth of Independent States, most of which are ex-USSR countries).
Best Brokers of the CIS
The rating is based on 3 major criteria: search requests (wordstat.yandex.ru), frequency of mentioning (news.yandex.ru) and the region of analysis (the CIS). The current rating looks as follows:
The TOP 3 is occupied by TeleTrade, Alpari and Forex Club. All of these companies are major brokers with decades of operating history, multiple licenses, awards and offices across the CIS and all around the world.
The list of outsiders includes:
- Interactive Brokers;
- Dukascopy Bank.
- LIONSTONE Investment
Russians are more interested in Forex than Belarusians and Ukrainians
The amount of search requests in a certain country depends on the amount local citizens interested in the topic in question. As far as Forex is concerned, the amount of search requests across the CIS is going down sharply.
Russian users are more interested in Forex and other financial markets that their counterparts in Belarus and Ukraine. This is confirmed by wordstat.yandex.ru.
The “Broker” request gives us the following results in September:
153 217 requests for Russia
11 242 for Ukraine
1 811 for Belarus
Russia’s Requests
When typing the word “broker” in their browsers, Russian users usually refer to Forex brokers, ratings of Forex brokers, promos, contests and other related things…
Forex Trend – Most Quoted Forex Sources
According to Yandex, Forex Trend was the most quoted Forex sources in September. The rest of the rating looks as follows:
Apparently, advertising campaigns are crucial for the overall development of any company, including its image, market capitalization, earnings and future prospects, whether, it is a broking company or such giants as Apple ,Google, Nokia or Samsung.
Other Brokers With Citing Uptrends
The following chart represents the list of broking companies that are currently seeing an uptrend in terms of citing in mass media like Yandex.
This is a major indicator of their future, Masterforex-V Academy reports. The more popular a broking company is, the bigger amount of new clients it may attract, thereby ensuring further growth and stability.
Citing Outsiders
The following chart represent the list of outsiders. Mass media seem to show almost no interest in these brokers, thereby making them unknown to the public.
Brokers and Social Networks: Forex Trend Leads
As for the popularity of certain brokering companies in social networks, this is another key indicator of their future performance. Social networks are powerful tools for promoting a company or a web source.
The chart below shows us the current rating of popularity in social networks:
Therefore, we may pick those brokers that lead efficient PR campaigns on the web.
Most Efficient PR
If to take all the mentioned information into consideration, it turns out that the following 2 broking companies can be considered the leaders in terms of efficiency in conducting PR campaigns:
Bottom Line
TeleTrade, Alpari and Forex Trend are the 3 most ambitious broking companies in the CIS. They have all chances to succeed and consolidate their positions in the region. This will allow them to attract even more clients. If to consider their client-oriented approach, competitive trading conditions, huge operating experiences and efficient management, we can conclude that these broking companies will probably see a bright future in the CIS and around the globe!
