October 2017 Top Forex Brokers: Tough Competition with the Newbies

October 2017 Top Forex Brokers: Tough Competition with the Newbies

Forex-Ratings.com is one of the leaders of the forex news and analytics market, and we do our best to ensure steady growth and enhancement of all the informational services that we provide. Since 2006, that is, for over 10 years now, Forex-Ratings.com keeps on doing its never-ending job of evaluating forex and binary brokers that are currently working on the global currency markets. Our factual knowledgebase grown during years of work has lead us to the elaboration of the various criteria helping us to define quality brokers’ performance. This includes concepts of being user-friendly, comprehensive, transparent and reliable.

The database collected by Forex-Ratings.com is available for any site visitor: with us it is possible to find any detail on any broker that has ever been listed on Forex-Ratings.com. Our site visitors are welcome to post their questions, comments and reviews on any forex broker. According to the years’-long collaboration experience, we can affirm that our site’s community has its weighty opinion that has to be taken into consideration. Our community is active on a daily basis and keeps on steadily growing.

The homepage rating published on Forex-Ratings.com represents the best forex broker of the moment, and their positioning in the rating is backed with the traders’ support behind it: within every 24 hours any registered site visitor is able to cast three votes for/against any of the rating participants. Additionally, our site community members are free to direct their questions or comments exactly to the forex companies, and they can expect a professional right-from-the-source answer in practically no time. For brokers featured in the Forex-Ratings.com homepage listing this means a lot of promotional advantages. In fact, our rating is a convenient and user-friendly means to raise awareness of the company or its actual offers.

Let’s see how was the performance of the Forex-Ratings.com rating participants in October.


The leader of the previous month of September, easyMarkets, in October has confirmed its leading position. The positions of HYCM (6th place) and HotForex (9th place) have slightly deteriorated, yet these two renowned brokers have managed to stay with the October Top10. At the same time, FBS and Forex4you have been kicked out of the ‘best of the best’ list, being replaced by Fort Financial Services (5th place) and 24option (10th place). Thus, compared to the first autumn month, in October the Top10 list has been 20% renewed.

And now let’s have a closer look into the Top brokers’ offers and activities of October 2017.

Congratulations to the October 2017 Top10 leader, easyMarkets. This is an online forex and CFDs broker providing access to more than 300 global markets to clients from over 160 countries. The broker is regulated by both CySEC (The Cyprus Securities and Exchange Commission) and ASIC (Australian Securities and Investments Commission).

easyMarkets’ accounts start from $100 and include a client success manager, basic education and platform tour as well as technical reports. VIP trading starting from $2500 and gives traders free trading signals, SMS market updates, higher leverage and direct contact with the dealing room among other great features.

Trading conditions with easyMarkets include no slippage, leverage as high as 1:400, fixed spreads as low as 1.8 pips (1 pip for EU clients), guaranteed stop loss, negative balance protection and allow scalping and hedging. All this is backed up with an excellent customer support team which is available 24/5.

The company’s clients are able to choose between the globally famous MT4 trading platform and easyMarkets’ own platform which has been launched in 2001 as the first web-based trading platform in history.

Following record gains posted by Bitcoin and other cryptocurrencies over recent months, in October easyMarkets has announced the launch of its Bitcoin CFD.

The introduction of CFD trading on Bitcoin marks the first stage of easyMarkets’ decisive move into the surging cryptocurrency arena, with the release of other cryptocurrencies scheduled to take place in the near future.

FXTM, the runner-up of the October rally, is a Cyprus-based broker tracing its history from 2010. FXTM is remarkable for its special approach to provide tailored trading conditions and diverse educational tools for its clients.

FXTM ensures that its trading and investment products and services are comprehensive, trustworthy and effective. During years of its active work FXTM has firmly established itself as a broker of a global level.

On October 7, FXTM Nigeria participated in the first ever International Markets Live Convention in Lagos, which was exclusively sponsored by FXTM Partners.  The event was a resounding success, with over 1200 guests and forex experts attending. Attendees were then invited to visit FXTM Nigeria’s booth, where they met the Nigerian team and received details of how they can start their forex trading journey. In addition, guests were given information on the wide range of forex trading courses, seminars and workshops available in the region.

On the same day of October 7th, 2017, a brand new office of FXTM Partners has been opened in the very center of Kuwait City financial distict. FXTM aims at continuing its effort in the field of forex education by providing training for beginners and experienced traders, as well as other services for our dedicated partners, through the new FXTMPartners location in Kuwait.

FxPro, a well-established European forex and CFD broker, is the ‘bronze’ finisher of October. The company was founded in 2006 and is headquartered in London, UK.

The client base of this broker is continuously growing. FxPro serves both retail and institutional clients from over 150 countries and has an extensive portfolio including forex pairs and CFDs on futures, shares, indices, spot energies and spot metals. FxPro operates as a Hybrid Agency Model broker, offering Negative Balance Protection and enabling clients to access top-tier liquidity. Trading accounts with FxPro start from $100 with the leverage at 500 and tight pip spread on majors at 0.5-1.3, the spread is variable.

FxPro trading platforms feature latest versions of MetaTrader, cTrader, WebTrader, Mobile Platforms, MultiTerminal and ECN FxPro cTrader. MT4 and cTrader are greatly in demand with FxPro traders, as these platforms ensure fast and correct trade execution.

FxPro is a broker that allows scalping, and at that it provides its traders with direct access to the markets. This combination makes FxPro specifically popular among experienced fx traders.

In October the broker has announced receiving a license from the Dubai Financial Services Authority (DFSA). Consequently, FxPro office is to be opened in Dubai shortly, according to the company official news.

So far FxPro has had two major European licenses – from UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), as well as a license from South Africa’s Financial Services Board (FSB). FxPro also has a registration with Germany’s BaFin, France’s ACPR, Spain’s CNMV and 25 other regulating authorities.

FIBO Group (Financial Intermarket Brokerage Online Group), 4th place in October, was established in 1998, which makes it one of the oldest companies in marginal Internet trading.

All the services offered by the FIBO Group holding meet the international standards and all the relevant regulatory norms. The major principles of the company’s performance are transparency, protection of the clients’ interests and strict compliance to the applicable laws and orders issued by the national regulators.

Fort Financial Services is the 5th place finisher of October 2017. FortFS is a company launched in 2010. It is a licensed international forex broker operating under a license IFSC/60/256/TS/14 issued by International Financial Services Commission of Belize. At present the broker actively works in more than 30 countries around the world, with special accent on Asia Pacific and MENA region.

For traders seeking a more advanced level of trading Fort Financial Services offers a CQG platform. By that it provides a direct market access to more than 40 world top exchanges through a global network of united exchange gateways and servers. Hundreds of contracts to choose from include 150+ currency pairs, binary options, CFD contracts (currency futures, commodities, stock indices, energies, precious metals, ETF contracts, and so on).

The trading opportunities offered by Fort Financial Services are specifically adapted to MetaTrader4, the world’s most wide-spread and popular trading platform. The company also features NinjaTrader, a multifunctional platform dealing with various markets and trading instruments: forex, stocks and futures.

In October FortFS has informed its traders of a recent official release of the Microsoft updates of the Windows 10 operating system. These updates affect configurations and encryption keys similar to the installation of a new Windows operating system.

In order to protect user information, the MetaTrader platform binds all data to the operating system and hardware of the computer, on which it is installed. This protection method ensures that even if the platform files are stolen, it is not possible to connect to the server using previously saved accounts. The traders need to re-download the applications from the Market.

Moreover, at the beginning of October 2017 FortFS has announced a new reduction in spreads. Thus, from 02.10.2017 the 4 most popular contracts spreads are:

EURUSD: 0.8
GBPUSD: 0.9
USDJPY: 1.0
GOLD: 4.6

HYCM is the 6th place finisher in October. HYCM 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 several other globally recognized business jurisdictions.

The broker’s trading platforms include MetaTrader4, Webtrader and HYRPO. Trading accounts at HYCM start from $50 with leverage reaching up to 400:1, and tight spreads on major currency crosses range from 0.5 to 2 pips. The spread can be either fixed or variable. HYCM traders are allowed to use automatic trading. Hedging and expert advisors are available too.

HYCM offers a variety of trading instruments: currency trading as well as trading equities, commodities, indices, stocks, and this list is not complete. HYCM tradersr are able to use any of the offered trading tools from the same trading account. Demo accounts for beginners are also available.

FXCM, 7th position in October, is one of the veterans of the online currency trading market, a major liquidity provider and a market maker. The company has been established in 1999 and is headquartered in New York, US.  FXCM holds licenses approved by the industry principal regulators from around the globe, including US, UK, EU, Hong Kong and other.

FXCM offers competitive spreads on major currency pairs. The key offer of the broker is NDD forex trading. Forex Capital Markets Limited, the UK subsidiary of FXCM, also offers CFD products with no re-quote trading. Moreover, on the same platform it is possible to trade not only currencies, but also stock indices, oil, gold and silver.

The broker features wide range of platforms to meet the needs of different types of traders. Among them are the world’s popular MetaTrader4 along with FXCM Active Trader, Mirror Trader, FXCM Trading Station Desktop, FXCM Trading Station Web and FXCM Trading Station Mobile. On any of these platforms the traders have access to the technical analysis, currency updates and market reviews.

FXCM works with private traders as well as with institutional customers all across the globe, including US residents, which gives the broker special advantages on the forex market.

The broker provides its customers with a wide range of educational solutions, including tutorials, learning courses, forex books and webinars. FXCM also offers free services of its’ Educational Center to the novice traders.

XM.com, 8th position in October, 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.com offers trading in forex, CFD’s and futures through the MT4 Platform.

XM clients have 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.

The XM.com seminar series on forex trading, started in the MENA countries earlier, in October has reached two more destinations: Manama, Bahrain, on 11th October and Kuwait City, Kuwait, on 14th October.

The topic presented in Manama and then in Kuwait City attracted numerous online investors ready to take their forex trading skills to the next level with the help of Tradepedia-certified instructor Habib Akiki.

The next XM.com educational seminars of October have taken place in Amman, Jordan, in Manila, Philippines, and also in Europe: in Barcelona and Florence, which makes it a month of global activity, interaction and broad representation for XM.com

HotForex, 9th place finisher in October, is a company with a 10-years’ history of active work on the forex market (established in 2007). It is regulated and based in Mauritius.

The platforms available at HotForex include HotForex PAMM system, HotForex MT4 Terminal, Hot Webtrader, Hot iPhone & Smartphone Trader, and Hot Android. The highly competent HotForex support service is available worldwide 24/5.

HotForex guarantees its customers access to interbank spreads and liquidity through the most modern automated trading platforms and trading technologies.

In October HotForex has announced its ZERO Spread Account as an accessible, low-cost trading solution suitable for all traders, but in particular for scalpers, high-volume traders and those who trade with Expert Advisors (EAs).

24option is closing the best Top10 of October on Forex-Ratings.com . Established in 2010, the company offers CFDs/FX trading to novice and seasoned traders alike. 24option features an elaborate education center, 24-hour support, quick account verification and personal account managers. Regulated by CySEC and registered with numerous regulatory bodies in order to provide their clients with a transparent and unique trading experience.

24option offers over 100 underlying assets to trade CFDs on, including exotic currency pairs, major commodities, popular stocks, indices and crypto currencies. The website and customer support is multilingual and is available on a 24/7 basis.

With the 24option trading platform one can trade on a large list of assets; including currency pairs (forex), crypto currencies, stocks, indices and commodities. 24option allows deposits in numerous currencies and methods including credit/debit cards, wire transfer, Skrill, Neteller and Webmoney, and offers next business day withdrawals. The minimum deposit is $250, they offer competitive spreads and have leverage options up to 400:1.


Top 10 Forex Brokers in October 2017:

  1. easyMarkets
  2. FXTM
  3. FxPro
  4. FIBO Group
  5. Fort Financial Services
  6. HYCM ↓
  7. FXCM (new)
  8. XM.com
  9. HotForex ↓
  10. 24option (new)

Such are the results of October 2017 voting. Let’s see if the November race will make a huge influence on this range!  As usual, every 1st day of the month all the previous voting results are moved to the archive of Forex-Ratings.com, and the voting of a new month starts from ‘zero’ point.

Every month the Top leaders have to fight for the upper positions on equal terms with their tough competitors. In fact, any of the listing members, be that an industry veteran or a newcomer, has an equal opportunity of getting on top and being recognized as the leader of the month.

All the previous voting results are permanently stored in the site archive, so you can see for detail of any broker’s past performance whenever necessary.

The voting procedure on Forex-Ratings.com is easy and transparent. Any registered user can vote for/against forex brokers of choice on a regular basis. The registration procedure as such is really simple and takes only minutes to pass all steps. It is also possible to log in with one of the social networks’ accounts, which makes it even easier.

Within 24 hours any registered user can vote up to three times for or against the brokers listed on the Forex-Ratings.com homepage rating. To add to that, all the site visitors are free to post comments and reviews on any of the forex broker featured in our vast database. Join our community now to share your viewpoint on any aspect of online forex trading!  

With the esteemed help of our active members we consequently make the forex industry more responsible and the entire panorama of the online currency exchange business more clear and attractive.

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