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This review introduces the best forex brokers of July 2016. Compared to the previous voting month, in July the Top10 Forex-Ratings.com voting chart has been 10% renewed: ColmexPro (5th place finisher in June) is now out of the toppers’ list, while the vacancy is taken over by the July Top10 newcomer, XM.com (10th place).
In July Forex.com, HY Markets, HotForex and FXTM have improved their positions in the Top10 listing, whereas one of the rating leaders, FXCM, has descended from its ‘silver’ step of June to the honorable but ‘no medal’ 4th position. Interestingly, FIBO Group (3rd place in July), Nord FX (6th place in July) and Fort Financial Services (9th place in July) have managed to keep the same rating positions as one month ago. This steadiness of performance proves that these brokers certainly have strong supporters active in both trading and in voting activities online.
Let’s have a thorough look into the performance results and best offers featured by the best forex brokers in July 2016.
Congratulations to the July 2016 Top10 leader, FxPro. This is the company with the constantly and steadily growing client base.
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.
The range of the broker’s trading assets and instruments includes futures, indices and spot metals.
FOREX.com, the runner-up of the July rally, is a forex broker established 15 years ago, 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 earned a reputation of 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 trading tools and transparent trading execution.
FOREX.com is also renowned 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 management has ‘invested’ years into research of informational technologies and into elaborating a liquidity network of trading partners. Thus, this broker is able to consistently quote tight spreads regardless of the situation on the financial markets.
FIBO Group (Financial Intermarket Brokerage Online Group), the ‘bronze’ medalist of July, is one of the oldest companies in marginal Internet trading. The broker was established 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.
At the beginning of July FIBO Group, Ltd has held a special workshop and a range of face-to-face meetings with the Middle East clients in Dubai. This location has been chosen as a welcoming World 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).
Within its framework of expanding the activities on the Arabic market, in July the company has introduced Arabic language as a new active language available to its clients in the personal cabinet.
Along with this, not forgetting the Chinese market as one of the broker’s priorities, in July FIBO Group has announced the official opening of its office in Shanghai. The broker’s customers from this region are now able to obtain directly the necessary consultation and open an account in new office under the supervision of qualified professionals of FIBO Group.
As for the company’s software upgrades, in July FIBO Group has introduced a new option of hedging deals that is available in the updated version of the MT5 trading platform. This means that the system now allows conducting trades on contra (opposite directions) trading positions of the same instrument (currency pair). The traders, who got used to the locking strategies in the MT4 platform and who were affected by the lack of such functions in MetaTrader5, will now be able to switch over to a more up-to-date platform.
FXCM, 4th place of the July Top10, 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.
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.
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 FXCM Active Trader, Mirror Trader, FXCM Trading Station Desktop, FXCM Trading Station Web and FXCM Trading Station Mobile. On any of the platforms clients at all times have access to the currency news, technical analysis and market overview.
The broker provides its customers with an array of trading tutorials, learning courses, forex books and webinars. FXCM also offers free services of its’ Educational Center to the new traders.
HY Markets has finished the July 2016 rally on the much-coveted 5th place.
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 Markets is a trading name of Henyep Capital Markets UK Ltd.
HY Group is registered and authorized in UK, Hong Kong, United Arab Emirates, and other business locations 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 HYRPO and Webtrader. The 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 allowed.
NordFX, 6th place in July, is one of the most popular forex companies offering comfortable and beneficial trading conditions.
NordFX offers flexible trading conditions, including "Micro" accounts starting from $5. 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.
HotForex, 7th position by the results of the July rally, 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.
In July the HotForex Brand has been officially licensed by the Financial Services Board (FSB) of South Africa, solidifying its commitment to offering clients the highest levels of security. The new license adds to the range of licenses and regulation forms HF Markets Group already has. The list includes licenses given out by the Financial Services Commission (FSC) of Mauritius, the Financial Services Authority (SVGFSA) of Saint Vincent and the Grenadines and the Cyprus Securities and Exchange Commission (CySEC).
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.
FXTM, 8th position in July, is a Cyprus-based brand was launched in 2010, with a unique approach to provide special trading conditions and all-encompassing educational tools for its clients.
FXTM ensures that its trading and investment products and services are efficient, reliable and effective. In the course of only a few years FXTM has firmly established itself as a broker of a global level.
In July FXTM has activated implementation of latest version of the cutting-edge MT5 trading platform, which now comes with the hedging option. The platform’s latest update provides users with extra flexibility and control over their trades, enhancing their trading experience to the maximum.
For its Chinese clients FXTM has introduced a new payment method in July. WeChat, the China’s favorite social network, now features payment services, and correspondingly FXTM has announced the addition of WeChat to its broad list of payment options. WeChat Pay is quickly becoming China’s number 1 payment solution, with millions of new users enjoying its features on a daily basis.
Among midsummer FXTM’s PR activities we would mention the visit of the company’s VP of Corporate Development and Market Research, Jameel Ahmad, to the recently opened UK office of FXTM. The chief expert conducted several interviews with industry-leading outlets including major news agency companies.
Fort Financial Services, 9th place finisher in July, 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 July the new CopyTrading service has become available to Fort Financial Services clients. The broker has introduced a new convenient system to the trading of successful traders. The system is based on the three key criteria: security, simplicity and transparency.
CopyTrading from FortFS allows traders to personally create the perfect strategy for profitable work on the financial market. The bases of the unique service CopyTrading from FortFS are convenient and transparent mechanism, flexible settings, lack of hidden commissions and the rating of Master Accounts so that clients can select what’s best for them.
XM.com is the company closing Top10 of July 2016 on Forex-Ratings.com. 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.
On July 2nd, 2016 there has taken place an event of great significance in the corporate history of XM: the Grand Gala Dinner in Shanghai, China. This year’s Shanghai gala dinner was attributed special importance to as exactly this date marks the company’s five-year presence in China.
In the long series of gala events hosted by XM in different countries worldwide, the Shanghai Grand Gala Dinner was yet another festive social event of grandeur that offered guests a most versatile evening program in the luxurious ambience of Kerry Hotel Shanghai. Along with the versatile entertainment, the Grand Prize Draw was one of the highlights of the event: as many as 12 prizes worth 300,000 RMB, including an Audi A3, were raffled among guests and the winners announced on the premises.
Top 10 Forex Brokers in July:
- FOREX.com ↑
- FIBO Group
- FXCM ↓
- HY Markets ↑
- HotForex ↑
- FXTM ↑
- Fort Financial Services
- XM.com (new)
Such is the summary of the July 2016 voting month on Forex-Ratings.com. However, next month’s results may turn out to be completely different! Our voting community chooses the best forex brokers among industry veterans as well as among new forex brokers who have already proven to be attractive to the currency traders.
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