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This review highlights the best forex brokers of February 2016. Compared to the previous voting month, in February the Top10 Forex-Ratings.com voting chart has been 10% renewed: HY Markets is now out of the toppers’ list, while the vacant position is taken over by the February Top10 newcomer, FOREX.com (9th place). In February NordFX and FXCM have improved their positions in the Top10 listing having climbed even higher (they take 2nd and 6th positions correspondingly), whereas positions of OctaFX, Fort Financial Services, HotForex and EXNESS have deteriorated, but nevertheless these brokers still keep on going strong.
Let’s have a deeper look into the achievements and best offers presented by the best forex brokers of February 2016.
Congratulations to the February 2016 Top10 leader, FxPro. This is the company with the increasingly and globally growing client base. The assortment of the broker’s trading assets and instruments includes futures, spot metals and indices. FxPro trading platforms include top-notch versions of MetaTrader, cTrader, MultiTerminal, WebTrader, Mobile Platforms and ECN FxPro cTrader. MT4 and cTrader platforms deserve a special notice, as FxPro clients trading on these platforms can expect fast and correct trade execution at all times.
In February FxPro has introduced Solace Messaging feature enhancing the broker’s communicational infrastructure. FxPro has invested in the Solace Message Router Appliances and Solace Virtual Message Routers to power internal and customer-facing interfaces over wide area networks and via web and mobile devices. Solace is in position to offer FxPro the tools required for supporting its daily operations and strengthening customer satisfaction, as it is equipped with unified API and administration framework.
NordFX, the runner-up of the February rally, is one of the most loyal forex companies popular due to its comfortable and beneficial trading conditions.
NordFX offers flexible trading conditions, including "Micro" accounts starting from $5.В The broker offers its clients MetaTrader 4 and MetaTrader 5 trading platforms, also customized for iOS and Android mobile devices. To add to that, NFX Trades and ZuluTrader platforms are also available to the NordFX clients.
NordFX provides direct access to ECN, with a variety of benefits for the clients, including best prices from Interbank market, NDD, market depth and lowest dynamic spread. NordFX allows traders to use such trading strategies, as news trading and scalping. Expert advisors are also available at NordFX.
NordFX client support offers its services in nine languages, and all the issues related to financial transactions (depositing/withdrawals) are resolved in the shortest time possible.
In February 2016 NordFX has been announced the winner of the two Nominations in the Forex Awards voting for 2015 – Best Micro Forex Broker and Best Execution Broker.
FIBO Group (Financial Intermarket Brokerage Online Group), the ‘bronze’ medalist of February, is one of the oldest companies in marginal Internet trading. The broker’s history has begun in 1998.
All the services offered by the FIBO Group holding meet the international standards and all the applicable 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.
OctaFX, 4th place of the February Top10, is a broker offering currency trading services to the clients in more than 100 countries throughout the world.
OctaFX operates on the basis of the latest technologies and findings to ensure that their clients’ trading is comfortable and secure. The range of OctaFX offers includes ECN accounts and micro accounts.
The strong points of the broker are low spreads and fast execution. The company keeps to the highest level of the service standards and continuously introduces new services and promotions to its clients.
With due attention to its broad Muslim audience, in February OctaFX has introduced Islamic accounts specially designed for the Muslim traders so that they trade conveniently and without restrictions.
OctaFX Islamic accounts are:
- В В В 100% Shariah compliant;
- В В В available for all account types;
- В В В have easy one-click registration.
- В В В No documents or other identity proofs are required to open an Islamic account at OctaFX.
OctaFX is a proud winner of the ‘Best Forex Brokers Europe 2015’ title on Forex-Awards.com. This title has been awarded to OctaFX in February due to ever-growing activity of the European clients of the broker, and it refers to the company’s increasing presence on the European fx market.
Colmex, 5th place finisher in February, keeps its steady position in the rating for the second month in a row.
ColmexPro is a brand founded in 2009 in Lymassol, Cyprus. During the years of operation the broker has become a global provider of forex, CFDs, commodities, shares and indices, along with the elaborated trading technology.
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 – 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 present-day key markets for ColmexPro are the markets with the English-, Russian and Spanish-speaking clients; the nearest next priority of ColmexPro is expansion into the Asian markets.В
FXCM, 6th place in February, is one of the leaders 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 works with private traders as well as with institutional customers all across the globe, including American residents, which gives the broker special advantages on the forex market. The broker is the license holder approved by the industry key regulators from around the globe – US, UK, EU countries, Hong Kong and Australia.
FXCM offers a wide range of platforms targeted to meet the needs of various types of traders. The offer includes the world’s popular MetaTrader4 along with Mirror Trader, FXCM Active Trader, FXCM Trading Station Desktop, FXCM Trading Station Web and FXCM Trading Station Mobile. On any of the platforms clients have permanent access to the technical analysis, currency news and market overview.
The broker offers competitive spreads on major currency pairs. The principal offer by FXCM is NDD forex trading. Forex Capital Markets Limited, the UK subsidiary of FXCM, also offers CFD products with no re-quote trading. Moreover, it allows clients to trade not only forex, but also stock indices, oil, gold and silver, all on one platform.
The broker provides its customers with an array of trading tutorials, learning courses, forex books and webinars. For the novice traders FXCM offers free services of its’ Educational Center.
Fort Financial Services, 7th position by the results of the February rally, is a company launched in 2010. Fort Financial Services is a licensed international fx broker operating under a license IFSC/60/256/TS/14 issued by International Financial Services Commission of Belize. At present it has clients in more than 30 countries around the world.
The trading opportunities offered by Fort Financial Services are specifically adapted to MetaTrader4, the world’s most reliable and popular trading platform. The company also features NinjaTrader, a multifunctional trading platform dealing with different markets and trading instruments: forex, futures and stocks.
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. Hundreds of contracts to choose from include over 150 currency pairs to trade on forex, binary options, CFD contracts (oil, gas, commodities, precious metals, stock indices, ETF contracts, currency futures and so on).
In February Fort Financial Services has updated the limit for a single withdrawal transaction to a card in accordance with the card processing regulatory requirements. The maximum withdrawal amount for one transaction has been changed to 2,000.00 USD (or equivalent in other currencies).
HotForex, 8th position in February, is a frequenter of Top10. The company offers services in trading currencies and commodities. It works with funds and investment companies as well as with private traders. HotForex guarantees its customers access to interbank spreads and liquidity through the most modern automated trading platforms and trading technologies. The platforms available at HotForex include HotForex MT4 Terminal, HotForex PAMM system, Hot Webtrader, Hot iPhone & Smartphone Trader, and Hot Android.
FOREX.com, 9th place finisher in February, is a forex broker established in 2001. The parent company of FOREX.com is GAIN Capital Holdings which is listed on the New York Stock Exchange. FOREX.com keeps up 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, top-notch В trading tools and transparent trading execution.
FOREX.com is also famous for its various educational programs for forex newbies. FOREX.com hosts webinars and video tutorials, its clients can at all times expect quality support services from the team of professional fx traders. FOREX.com staff has spent more than ten years investing in informational technologies and elaborating a liquidity network of trading partners, therefore the broker is able to consistently quote tight spreads regardless of the situation on the financial markets.
EXNESS, the company closing Top10, is one of the leaders in global investment. The broker actively operates on the forex market since 2008. EXNESS offers its services to corporate entities as well as to private traders.
Platforms offered at EXNESS are world’s most popular MetaTrader4 and MetaTrader5. There’s no minimum deposit standard, and leverage ranges from 2:1 up to 2000:1; pip spreads on major currency pairs start from 0.1 pips. Also available are ECN accounts starting from $1,000. Automated trading and hedging are allowed at EXNESS.
In February EXNESS Group has announced the Q4 2015 trading figures. The total trading volume of this period has amounted to 559.4 billion USD, showing consistency in performance and stability as a leading online provider of foreign exchange.
In the assurance report performed by Deloitte, the total Partners’ reward and total Clients’ withdrawals for the quarter ended December 31, 2015 increased by 3 per cent and 19 per cent respectively, recording a total Partners’ commission of 9.5 million USD and the total Clients’ withdrawals hitting a high of 72.7 million USD.
With an increase in new clients growth rate, the Group is expecting the performance of Q1 2016 to exceed that of Q4 2015. Preliminary figures have indicated a month-on-month increase in the number of new account registrations, with January 2016 performance standing at 32,601 against Q4 2015’s monthly average of 27,817. On top of that, monthly trading volume has also shown optimistic outlook, with January’s at 197.3 billion USD and Q4’s average monthly trading volume at 186 billion USD. With a large-scale volatility of yen cross-rates this quarter, Q1 2016 also offers an opportunity for clients to get an “over the market” profit.
The company continuously works on improving the quality of the rendered services. During years of operation EXNESS has received a number of prestigious financial awards.
Top 10 Forex Brokers in February:
- NordFX ↑
- FIBO Group
- OctaFX ↓
- FXCM ↑
- Fort Financial Services ↓
- HotForex ↓
- FOREX.com (new)
- EXNESS ↓
Such is the summary of the February 2016 voting month on Forex-Ratings.com. However, March results may prove to be completely different! Our voting community selects the best forex brokers among industry veterans as among new forex brokers who have already demonstrated excellent performance results.
The activities of the Forex-Ratings.com community do a lot to add transparency to the forex market. Our site’s think-tank evaluates fx brokers in their day-to-day business and determines which companies deserve to be chosen to trade with: what kind of spreads they offer, what are details of depositing/withdrawal procedure, how does the broker’s helpdesk operate, and so on.
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