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As for the ‘Best of the Best’ list issued by Forex-Ratings.com every month in accordance with the actual voting statistics, the April brokers’ rating has much in common with the chart of the preceding month. Same as in March, the gold and the bronze position have been kept by the same forex companies, with FxPro as a steady rally leader and FIBO Group as the bronze finisher. The runner-up of April is FXCM, the broker that has significantly improved its performance results compared to the voting month of March, which it had finished on the 7th position. In April steady performance has also been demonstrated by Colmex (5th place) and Fort Financial Services (10th place). HotForex (6th place finisher in April) has performed significantly better than one month before, having managed to jump three steps us. The rating results of Forex.com, OctaFX and HY Markets have turned out to be somewhat lowering down compared to March.
Let’s have an in-depth look at the list of the ‘Best of the Best’ forex brokers of April 2016.
FxPro, the leader of the April Top10, is an exemplary brokerage company with years of work on the forex market in its background. The company is an industry veteran, as it has been established in 2006. It is headquartered in Cyprus.
FxPro offers not only currency trading but also trading equities, spot metals, index futures, commodity futures and energy futures. Futures’ trading with FxPro is easy and comfortable, as the broker offers tight spreads and price feeds.
Trading assets and instruments offered at FxPro form a broad assortment to choose from. FxPro ECN accounts start from $1,000.
On April 12th, 2016, FxPro has been awarded the ‘Best FX Provider’ title at the 2016 City of London Wealth Management Awards. Thus, it is now the third year in a row that FxPro wins this prestigious sign of recognition.
Trading platforms offered by this broker include FxPro MetaTrader4, ECN FxPro cTrader, FxPro MultiTerminal, FxPro Mobile Platforms. FxPro vault system provides prompt cash operations. Hedging and scalping are available for FxPro clients. As an NDD broker FxPro offers top-tier liquidity and superior execution technology.
On April 28th, 2016, FxPro has announced that its clients can now log into their MT4 accounts via the new MT4 Web Terminal from MetaQuotes.
The new Terminal features a full list of indicators and also keeps the look and feel of the original, allowing technical traders to perform the same kinds of analysis as on their desktop platform. It offers much of the functionality of the desktop platform, while being less resource intensive and allowing traders to easily manage their positions from any machine.
The runner-up of the April race is FXCM. The company is known as one of the well-reputed companies operating on the global forex market. The broker traces its history from 1999.
FXCM is considered to be one of the key liquidity providers and market makers. It works with individual traders as well as institutional entities. FXCM offers not only currency trading, but also trading on stocks, metals and energy assets.
FXCM features an array of trading platforms, including, along with the world’s most popular MetaTrader4, such in-house products as Mirror Trader, FXCM Active Trader, FXCM Trading Station Desktop, FXCM Trading Station Web and FXCM Trading Station Mobile. All the FXCM platforms provide constant access to the latest financial news, technical analysis and market reviews.
FXCM is headquartered in New York and is one of a limited pool of big forex brokers working with US clients. The company is licensed in the US, UK, a number of European countries, Hong Kong and Australia.
FIBO Group is the April 2016 ‘bronze’ finisher. Financial Intermarket Brokerage Online Group has been established in 1998, which means this forex company is one of the oldest players in marginal Internet trading.
All the services offered by the FIBO Group holding meet the international standards and all the applicable regulatory norms. In its day-by-day work FIBO Group sticks to the principles of strict compliance to the applicable laws and orders issued by the national regulators as well as protection of the clients’ interests.
In the end of April FIBO Group announced that due to the great popularity of its “Traders’ mission” bonus program, the expiration date is extended for the period until July 31th, 2016.
The key advantage of the bonus program is the opportunity for all the clients to get a 100% bonus for the deposit once the account has been credited. The bonus amount would depend on the turnover on the bonus account and would be 125%, 150%, 175% or 200% of the deposit amount (depending on the volume of the turnover). This means that the deposit of funds that can be used for trading would actually triple.
The 4th position of the April 2016 listing belongs to NordFX. This India-based forex broker offers a variety of services complying with the global industry standards.
NordFX traders can choose from a wide range of topnotch trading software. The broker features MetaTrader4 and MetaTrader5 trading platforms as well as MT versions customized for iOS and Android mobile devices. Trading conditions offered by NordFX are flexible and include "Micro" accounts starting from $5, tight fixed (from 2 pips) and variable spreads (from 0 pips) on different types of accounts.
The broker allows traders to use EAs and various trading strategies including news trading and scalping. NordFX clients can comfortably open and close orders trading from any spot of the world; Integral NFX Trades and ZuluTrade are also at the service of the NordFX clients.
NordFX client support deserves a special notice for providing services in ten languages including Arabic, Chinese, Portuguese, Russian and Spanish.
In mid-April 2016 NordFX has introduced new conditions of the Affiliate Program coming into effect with partner commissions almost doubling. This is the most significant upgrade in the history of the NordFX partner program.
The basic commissions increase as follows:
For “Micro” – from 25% to 40% of the spread
For “Account 1:1000” – from 25% to 30% of the spread
For “Standard” – from 20% to 30% of the spread
For “MT-ECN” – from 20% to 30%
VIP partners get even more attractive terms of 40-50% of the spread.
Current NordFX partners are to be transferred to the new conditions automatically.
Colmex is a broker occupying the 5th line of the April rating on Forex-Ratings.com
ColmexPro is a trademark established in 2009 and since then it has become a global provider of forex, CFDs, commodities, shares and indices, along with the sophisticated trading technology. ColmexPro headquarters are located in Lymassol, Cyprus. The company is fully authorized and licensed by the Cyprus Securities and Exchange Commission (CySEC) with license number 123/10. Along with this, ColmexPro is also registered with other competent authorities/ regulators as well as professional and governmental bodies, including: FCA – United Kingdom [registration number: 547535] · BaFIN - Germany [registration number: 124339] · CNMV - Spain [registration number: 2855] · ACPR - France [registration number: 73709]
ColmexPro clients enjoy a number of benefits, including leverage of 12 times with the possibility of leverage increase; real-time live streaming quotes; advanced technical analysis tools, etc.
The current target markets for ColmexPro are the English, Russian and Spanish-speaking markets; what is more, ColmexPro is about to expand into the Asian market very soon.
HotForex, 6th position in April, is one of the frequenters of Forex-Ratings.com charts. The company was founded in 2007 and is headquartered in Mauritius. Correspondingly, the broker’s activities are regulated by the Financial Services Commission of the Republic of Mauritius (FSC). HotForex deals with investment companies and fund managers as well as with private traders offering services in trading currencies and commodities.
The platforms available at HotForex include HotForex PAMM system, HotForex MT4 Terminal, Hot Webtrader, Hot iPhone & Smartphone Trader, and Hot Android. The broker guarantees its customers access to interbank spreads and liquidity through the most modern automated trading platforms and trading technologies. The highly professional HotForex support service is available worldwide 24/5.
FOREX.com, 7th place in April, is a forex broker that has been established in 2001. The parent company of FOREX.com is GAIN Capital Holdings which is listed on the New York Stock Exchange. FOREX.com adheres to the high standards of corporate governance and financial reporting.
During years of operation FOREX.com has been rated high being one of the leaders in currency trading and CFD trading. The broker offers a variety of trading platforms to meet the needs of different kinds of traders. The principal advantages of FOREX.com are reasonable pricing, tight spreads, advanced trading tools and transparent trading execution.
FOREX.com is also famous for its various educational programs for beginners. FOREX.com hosts webinars and video tutorials, its clients always receive quality support services from the team of professional fx traders. FOREX.com management has invested years of constant work into developing new trading technologies and elaborating a liquidity network of trading partners, therefore the broker is able to consistently quote tight spreads regardless of the current conditions on the financial markets.
OctaFX, 8th place finisher in April, is a broker providing currency trading services to the clients in 100+ countries throughout the world. The strong points of the broker are low spreads and fast execution. Among OctaFX offers are ECN accounts and micro accounts.
OctaFX operates on the basis of the latest technologies and findings to ensure that their clients’ trading is safe and comfortable. The broker keeps up with the highest level of the service standards and introduces new services and promotions continually.
At the end of April 2016 OctaFX has introduced a new depositing option: from now on it is possible to deposit the euro trading accounts via Skrill. Direct withdrawals in euro are now also available to OctaFX clients on Skrill with no commission.
Generally, the conditions are the following:
Minimal deposit amount is €50
Account credit is instant
No commission is taken
No conversion is performed
HY Markets, 9th place in April, is a market name of Henyep Capital Markets UK Ltd. The company is a part of the global conglomerate working in currency trading and financial services, property, education, etc. HY Group is registered and authorized in UK, Hong Kong, United Arab Emirates, and other business jurisdictions of prime importance, all together in more than 20 countries worldwide.
HY Markets features such trading platforms as MetaTrader4 as well as Webtrader and HYRPO. Trading accounts at HY Markets start from $50 with leverage reaching up to 400:1 and tight spreads on major currency crosses ranging from 0.5 to 2 pips. The spread can be both fixed and variable. HY Markets clients are allowed to use automated trading. Hedging and expert advisors are also available. New HY Markets clients may try a free demo account to get a better idea of the broker’s offers.
HY Markets offers a number of trading instruments, such as currencies, commodities, energies (oil/gas), metals, stocks, indices, equities, and many more. A single trading account at HY Markets gives access to any of the offered trading tools. HY Markets has fast and direct automatic execution of all of its products benchmarked on the largest exchanges such as COMEX, NYMEX, and others.
Unlike forex only providers, HY Markets allows its clients to gain exposure to multiple capital markets, thus allowing investors to develop a diverse portfolio from a single integrated account. This allows clients to diversify their investments as well as benefit from the ability to trade multiple strategies.
Fort Financial Services is the broker closing Forex Ratings ‘best ten’ of April 2016. This is a licensed international forex broker operating under a license IFSC/60/256/TS/14 issued by International Financial Services Commission of Belize. FFS traces its operational history from 2010 and has clients in more than 30 countries worldwide.
The trading opportunities offered by Fort Financial Services are specifically adapted to MetaTrader4, the world’s most sought-after trading platform. The company also features NinjaTrader, a multifunctional trading platform dealing with different markets and trading instruments: forex, stocks and futures. For traders seeking a more advanced level of trading Fort Financial Services offers a CQG platform thus providing a direct market access to more than 40 world top exchanges through a global network of united exchange gateways and servers.
Fort Financial Services offers a broad range of tradable contracts available among top 50 brokers of the world. Available are hundreds of contracts to trade on forex, binary options, CFD contracts (oil, gas, commodities, precious metals, stock indices, ETF contracts, currency futures and many more).
In April Fort Financial Services has published the review of its achievements in 2015. The review includes the list of international exhibitions that the broker has taken part in; nominations and awards received by Fort Financial Services in 2015; new exclusive services introduced in 2015 to the broker’s clients.
Top 10 Forex Brokers in April 2016:
- FXCM ↑
- FIBO Group
- NordFX ↑
- HotForex ↑
- FOREX.com ↓
- OctaFX ↓
- HY Markets ↓
- Fort Financial Services
These were the April 2016 voting results. With all the said above, the next month’s Top10 list may look significantly different. Every 1st day of the month the previous Forex-Ratings.com voting results are cleared up. Hence, the new month’s voting marathon starts anew from ‘zero’ point. Due to this provision each listed broker has a chance of climbing up to the top of the rating.
Forex-Ratings.com helps traders in choosing the right forex company to trade with. In fact, voting results produced by the Forex-Ratings.com community influence the future traders’ activities and answer the primary question, that is, whether this or that forex broker is a reliable business entity and whether is is worth trading with.
Our voting community decides which forex brokers currently deserve the top position in the rating, and which have performed not so well recently. Each voice matters and every vote contributes to the results of the monthly report. Our system provides voting transparency. Hence, at any given moment the brokers take their rating positions by right, as this is supported by the number of real-time votes given for/against the brokers.
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