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This review deals with May 2016 Forex-Ratings.com voting results. In the final spring month of 2016 the Top10 listing has been 20% renewed compared to the previous voting month of April.
The pack leader, FxPro, as well as FIBO Group (3rd place) and Colmex (5th place) have managed to keep the same positions as one month ago. And let’s give a warm welcome to the Top10 newcomers, FXTM (9th place) and XM.com (10th place)! At the same time, the Top has been left by OctaFX and Fort Financial Services. We wish these assertive rally frequenters good luck and soonest return to the Big League of Forex-Ratings.com!
The leader of the May 2016 Top10 is FxPro, an exemplary forex company with years of continuous and positive work on the market. FxPro is a Cyprus-based company having been launched in 2006. FxPro at all times offers attractive spreads and price feed, which makes futures’ trading very handy.
Trading platforms offered by the broker include FxPro MetaTrader4, FxPro Multiterminal, ECN FxPro cTrader, FxPro Mobile Platforms. Along with currency trading FxPro provides trading with Spot Metals, Equities, Index Futures, Commodity Futures and Energy Futures.
A trusted broker known for providing clients with innovative solutions and ongoing support, FxPro owes its reputation for being an exceptionally reliable firm due to the superior order-matching and execution technologies it offers. FxPro operates as a Hybrid Agency Model broker, enabling clients to access top-tier liquidity and benefit from its No Dealing Desk intervention policy and Negative Balance Protection guarantee.
FxPro ECN accounts start from $1,000. FxPro vault system provides prompt cash operations. Trading assets and instruments offered at FxPro are plentiful. Hedging and scalping are allowed at FxPro.
In May 2016 FxPro has announced that its popular FxPro Tools app is now available for Apple TV. From now on FxPro clients can keep track of all their favorite instruments on the TV screen.
FxPro Tools is an all-in-one application designed especially for keeping traders up to date with the latest market news. It is now possible to get real-time market information and price feeds on a variety of instruments including forex, metals, energy, futures and indices, thus being able to adjust trading strategy right on the spot.
Along with this, during the same month of May FxPro has introduced MT4 with market execution. This account type and its demo version are now available to all registered clients.
The FxPro MT4 account with market execution is primarily addressing the clients who prefer trading on the popular MT4 platform, yet wish to enjoy the benefits of the market execution. Clients of FxPro may still trade on MT4 with instant execution and fixed or floating spreads, or opt for an MT5 or cTrader account with market execution.
With this account, FxPro is also introducing the lowest spreads ever to appear on its MT4 platform. Specifically, clients who wish to trade in the familiar environment of MT4 with market execution can expect lower spreads across all currency pairs, as well as across commodities. This new account also offers the award-winning order execution that FxPro delivers across its range of platforms, and orders are executed at the volume-weighted average price (VWAP), that is essentially the best available market price as provided by FxPro’s pool of liquidity providers.
The ‘silver’ finisher of May 2016 is NordFX. The broker has enhanced its performance results compared to the previous voting month and has moved two steps up.
NordFX is a company headquartered in India and featuring a broad range of forex services along with global trading standards. 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.
NordFX provides its clients with MetaTrader4 and MetaTrader5 trading platforms, which also have versions customized for iOS and Android mobile devices. What is more, there are ZuluTrader and Integral NFX Trades at the service of the NordFX clients. Therefore, the broker’s clients have access to the advanced trading software that lets them opening and closing orders from anywhere in the world. In addition, NordFX produces Signals MQL5, yet another automatic trading facility.
NordFX allows traders to use expert advisors and any of the trading strategies including scalping and news trading. NordFX client support deserves a special notice as it is available in ten languages, including Arabic, Chinese, Russian and Spanish.
FIBO Group (Financial Intermarket Brokerage Online Group), the May 2016 ‘bronze’ winner, is one of the oldest players in marginal Internet trading. The company has been established in 1998. All the services offered by the FIBO Group holding meet the international standards and all the applicable regulatory norms.
The key principles of operational work of this broker are transparency, protection of the customers’ interests and strict compliance to the applicable laws and orders issued by the national regulators.
In May 2016 FIBO Group has held a special workshop and a range of face-to-face meetings with the Middle East clients. Dubai has been chosen for being an important financial centre, which intersects the paths towards all countries of the region. Considering the specifics of the region, the main topic of the seminar was related to the investments on the commodity markets and the drop of the prices of the natural resources as well as the impact of that on the currencies rates of the local states (whose economy is very much affected by the export prices).
The 4th step of the May 2016 ladder belongs to FOREX.com. This broker was established in 2001 and is considered to be one of the veterans of the fx industry. The FOREX.com parent company, GAIN Capital Holdings, is listed on the New York Stock Exchange. Correspondingly, FOREX.com adheres to the top standards of corporate governance and financial reporting.
During years of operation FOREX.com has acquired leading positions in currency trading and CFD trading. FOREX.com offers a variety of trading platforms to meet the needs of different kinds of traders.
The strong points of this broker are: first-rate trading tools; transparent and reliable trading execution; competitive pricing and tight spreads. FOREX.com team has spent more than ten years investing in informational technologies and elaborating a liquidity network of trading partners. Hence, no wonder that FOREX.com is a broker able to consistently quote tight spreads in any market situation.
FOREX.com is specially known for its diverse educational programs addressed to novice FX traders. The company hosts webinars and video tutorials, its clients receive personal support from the team of professional fx traders.
The 5th position of the May 2016 voting goes to Colmex. 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. Besides, ColmexPro is also registered with other competent authorities/ regulators as well as professional and governmental bodies, including: FCA, ACPR, BaFIN and CNMV.
The current target markets for ColmexPro are the English, Russian and Spanish-speaking markets. To add to that, ColmexPro has announced its plans of expansion into the Asian market very soon.
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.
Since May 2016 the new version of the ProTrader platform is available to the Colmex clients. The new version contains various stability fixes that will further improve the trading performance. Pro Trader Platform offers the ability to place a market/future order and set a stop loss/take profit in advance. The new feature allows the clients to place pre-market orders.
A special feature now available to Colmex clients is TipRanks, which comes free of any charge. Tip Ranks is a comprehensive dataset of aggregated financial information gathered from analysts, hedge fund managers, financial bloggers and corporate insiders.
On the 6th step of the May 2016 ladder we observe HY Markets. HY Markets is a trading name of Henyep Capital Markets UK Ltd.
The company belongs to a global conglomerate working in currency trading and financial services, property, education, etc. in more than 20 countries across the globe. HY Group is registered and authorized in UK, Hong Kong, United Arab Emirates, and other business jurisdictions of prime importance.
HY Markets offers a variety of trading instruments: currency trading as well as trading energies (oil/gas), metals, commodities, equities, stocks, indices and many more. It is possible to apply any of the offered trading tools from the same trading account. The broker also features demo accounts for novice traders.
The broker’s trading platforms include 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 can use automatic trading too. Expert advisors and such trading strategy as hedging are also available.
In May 2016 HY Markets has introduced its ‘Refer a Friend’ program aimed at rewarding its clients with immediate cash rewards for their loyalty and for introducing HY Markets to other people within their social network.
In the same month HY Markets has also announced its loyalty program with exclusive rebates of up to $3 for every lot traded, deposited directly into the personal HY Markets trading account monthly. The HY Loyalty Program appears to be a great way to get rewarded just for conducting regular trading with HY Markets.
FXCM (Forex Capital Markets), 7th place in May 2016, is a market maker and a major liquidity provider. The broker has licenses from regulators registered in the US, UK, a number of European countries, Hong Kong, and Australia.
FXCM demonstrates consistent and steady performance and for a long time remains one of the frequenters of the Forex-Ratings.com Top10 participants.
The key offer by FXCM is NDD forex trading. FXCM features a variety of platforms to meet demands of various kinds of traders. The range of offered platforms includes the world’s most popular MetaTrader4 along with FXCM Active Trader, FXCM Trading Station Desktop, FXCM Trading Station Web, FXCM Trading Station Mobile, and Mirror Trader. On any of the platforms the broker’s clients have permanent access to financial news, technical analysis and market overviews.
FXCM offers competitive spreads on major currency pairs. Its traders can trade from real-time charts, execute trades in one click, and also trade on FXCM mobile version. Forex Capital Markets Limited U.K., which is a subsidiary of FXCM, also offers CFD products with no re-quote trading, plus it allows clients to trade oil, gold, silver and stock indices along with forex, all on one platform.
HotForex, 8th place finisher in May 2016, is one of the frequenters of Forex-Ratings.com charts. This is an investment company and a trading provider famous worldwide. HotForex deals with investment companies and fund managers as well as with private traders offering services in trading currencies and commodities. 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).
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.
FXTM, 9th place in May 2016, is a newcomer of the Forex-Ratings.com Top10 club. This Cyprus-based brand was launched in 2010, with a unique vision to provide special trading conditions and all-encompassing educational tools for its clients.
In the course of just a few years FXTM has firmly established itself as a global broker. FXTM ensures that its trading and investment products and services are efficient, reliable and effective.
Featuring one of the most elaborate educational centers in the forex industry, FXTM is empowering its clients with trading knowledge so that they get the most out of their trading experience. With multiple industry awards under its belt already, including a total of seven in 2015, FXTM continues to grow and build its perfect business reputation.
In May 2016 FXTM has announced the launch of the biggest cashback loyalty rewards program ever. This revolutionary promotion comes with continuous loyalty cashback and automatic rebate level upgrades. This promotions helps traders earn continuous rebates per lot traded for up to 6 months. The traders are rewarded with real and withdrawable cash.
Continuing its rapid expansion, this time with major focus on the well-established MENA region, FXTM co-sponsored the 9th Saudi Money Expo on the 22-23 of April and it was a great success. This opportunity was perfectly in line with company strategy to expand globally, as well as its commitment to provide free education and unparalleled trading conditions to traders worldwide.
XM.com is the broker closing Forex Ratings ‘best ten’ of May 2016. XM.com is a trading name of Trading Point Holdings Ltd, which wholly owns Trading Point of Financial Instruments Ltd (Cyprus) and Trading Point of Financial Instruments Pty Ltd. (Australia)
XM is a European Licensed Financial Institution offering trading in Forex, CFD’s and Futures through the MT4 Platform.
XM clients benefit from direct access to the financial markets in over 100 financial instruments including forex, equity indices, precious metals, and energies, with transparent real-time pricing, lowest spreads, and flexible leverage.
In May 2016 XM participated in the three-day-long 2016 Wuhan Financing & Investment Fair organized at the Wuhan International Expo Center in China. During the event the broker welcomed lots of its existing clients and numerous visitors from different parts of China at the XM exhibiting booth. The Fair in Wuhan turned out to be an important event for the financial and banking industry of the region.
Another important event featured by XM.com in China was its May free seminar in the city of Shenzhen, China. The title of the seminar was: Introduction to Avramis Swing Trading.
The event was held on the premises of The Westin Shenzhen Nanshan Hotel, where forex instructor Marios Pashardes, who is an accomplished seminar speaker, delivered a captivating presentation on the various aspects of swing trading, emphasizing the importance of technical analysis methods that can be applied to identify price trends.
The intensive seminar designed to suit the needs of both beginner and more advanced traders, consisted of a morning and an afternoon session, guiding participants through a systematic approach to the use of charts, price patterns, multiple time frames and last but not least the use of Fibonacci. The strategy called Avramis Trend Reversal was also demonstrated to the audience for better understanding of how entry and exit points can be planned more efficiently along with proper risk management.
Top 10 Forex Brokers in May 2016:
Such were May 2016 voting results. Next month it may well turn out that the ‘best of the best’ list will be looking significantly different. Every 1st day of the month the previous Forex-Ratings.com voting results are reset and the new month’s voting rally starts from the ‘zero’ point.
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