One of the most vital problems for a forex trader is choosing a reliable partner/agent as the current forex market exceeds 300 market makers and forex brokers. To assist a trader the authoritative Forex-Ratings.com issued a forex brokers rating which contains a set of criteria for companies evaluation and assessment. The evaluation includes such defining criteria as a company license, its experience in the field, its branches, the amount of commissions and spreads. Another parameter taken into consideration is opinions of professional forex traders which, as a rule, reveal market reputation of the forex company.
Our specialized forex forum rating presents the statistics of negative assessment of forex brokers. The three most criticized companies rank as following: the GCI takes the third place, the LiteForex is the second in the list while the InstaForex occupies a leading position. According to Max Cortis, Forex finance expert, clients’ complaints most commonly concern problems caused by delayed withdrawals , faulty operation of terminals, re-quotes, use of non-market quotations, for example, for gold and forex currencies. The InstaForex is regarded by many experts as an unchallenged leader accumulating a wide range of problems. Although the indicators of the two named companies are twice better than those of the InstaForex, the forex brokers adversely affect the quality of forex trading in the market.
In contrast to those who systematically violate norms of forex trading Ashley Romain has classified forex brokers who offer secure cooperation: ForexTrend, OANDA, GFT, MIG BANK, Forex MMCIS Group and FXCM. The forex companies that have received one negative comment include BMFN, FX Pro, ICM Brokers, Finam, Dukascopy Bank SA, Nord FX and SaxoBank. According to forex traders reviews, the enumerated forex brokers either operate an imperfect system of transferring funds to the account or a complicated procedure of its opening. It is only natural that these shortcomings directly affect a forex broker’s position in the Forex Rating. A company is ascribed 2 penalty points for each negative comment. Thus, the latest Forex graphs of security show that the InstaForex has received 144 points and, as a result, shifted to the 15th position among inexperienced and unscrupulous brokers.