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In this review we are introducing the best rated forex brokers of August 2016 as per the Forex-Ratings.com version. The July results have been 10% renewed, as one of the July toppers, FXTM, has left the ‘best ten’ list, and was replaced by a Top10 newbie, FBS (9th place).
Congratulations to FxPro, the ‘gold’ winner of the August race! This forex broker has been at the leading positions of the Forex-Ratings.com ‘Best of the Best’ list for a number of months in a row.
FxPro is forex broker established in Cyprus in 2006. Currently FxPro has representative offices and sales centers in United Kingdom, France, Spain and Russia.
The company is famous for its efficient performance and attractive trading conditions.
The range of trading assets and instruments offered by FxPro includes Forex, Equities, Spot Metals, Commodity Futures, Index Futures and Energy Futures.
FxPro features several trading platforms. The most popular platforms were reworked by the broker’s team to be even more convenient and user-friendly. The array of platforms available with FxPro includes: FxPro MetaTrader4, FxPro cTrader, ECN FxPro cTrader, FxPro MultiTerminal, FxPro WebTrader, and FxPro Mobile Platforms. FxPro offers ECN accounts starting from $1,000. The broker allows using such trading strategies as scalping and hedging.
In the end of August FxPro has announced Q2 execution statistics registered during the months of April, May and June 2016. During a particularly volatile second quarter, slippage percentages reached the following levels:
Positive = 49.45%
At Quote = 30.15%
Negative = 20.40%
Together with the above figures, FxPro is also announcing its re-quote percentages:
Re-quotes = 4.17%
Positive = 1.90%
Negative = 2.27%
During Q2 2016 FxPro has been busy with many developments, including the expansion of trading accounts offered to clients with the launch of FxPro MT4 with market execution. Amid increased activity observed across the financial markets, FxPro successfully enhanced its trading conditions further and was named ‘Best FX Service Provider’ for the third year in a row at the 2016 City of London Wealth Management Awards.
The ‘silver’ award of August 2016 goes to FXCM, a major liquidity provider and a market maker. This forex company demonstrates consistent and steady performance and continuously remains one of the frequenters of the Forex-Ratings.com Top10. FXCM has obtained licenses from regulators registered in the US, UK, a number of European countries, Hong Kong and Australia.
The core offer by FXCM is NDD forex trading. The broker offers a variety of platforms to meet demands of various kinds of traders, including world’s popular MetaTrader4 along with FXCM Active Trader, FXCM Trading Station Desktop, FXCM Trading Station Web, FXCM Trading Station Mobile and Mirror Trader.
The broker features reasonable spreads on major currency pairs. FXCM 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.
The ‘bronze’ finisher of the August 2016 Forex Ratings race is FIBO Group, a company that keeps high positions in the Top10 for several months in a row.
Financial Intermarket Brokerage Online Group has been established in 1998 and thus it is one of the oldest players in marginal online trading. The main principles of the company’s operational work are transparency, protection of the clients’ interests and strict compliance to the applicable laws and orders issued by the national regulators. All the services offered by the FIBO Group holding meet the international standards and all the applicable regulatory norms.
In August FIBO Group has made its services available in the Private Cabinet in two new languages, Arabic and Indonesian, to make the trading process to their clients more comfortable and easy.
FOREX.com is the 4th place finisher of the August 2016 race. The broker established in 2001 is currently one of the leaders of fx trading and CFD trading. The company’s strong points are competitive pricing, tight spreads, first-rate trading tools, excellent performance and precise regulation.
Every stage of trading process at Forex.com is automated; therefore the trades are executed promptly and at a reasonable price. 99.9% of all deals at Forex.com are processed in less than a second with an average execution speed of 60 milliseconds.
The broker is famous for its diverse educational programs addressed to novice traders. Actually, each new Forex.com trader is offered a wide array of trading courses and online webinars to choose from. Advanced sessions for experienced traders are also in place. The broker’s professional crew is ready to provide personal advisory assistance at any moment.
NordFX is the company having finished the August 2016 race on the 5th position. This broker is an all-in-one provider of forex services on the global financial markets.
NordFX was launched in 2008, the head office of the company is located in Port Louis, Mauritius. The broker is incorporated under the laws of Mauritius and is regulated by FSC (Mauritius), IFSC (Belize) and SEBI (India). The broker’s representative offices are also located in the Russian Federation and India.
NordFX offers flexible trading conditions, including "Micro" accounts starting from $5, tight fixed (from 2 pips) spreads and variable spreads (from 0 pips), depending on the account type. The broker allows traders to use expert advisors and such trading strategies as news trading or scalping.
NordFX offers a wide choice of forex services to its clients worldwide. The broker’s clients can conveniently deposit their funds anytime via online payment systems. There are eight types of accounts suitable for traders of all levels of professionalism. Order execution at NordFX is under 0.5 seconds; variable spreads from 0 pips on main currency pairs allow make costs go down significantly, whereas the traders’ profits increase.
Along with trading currency pairs the broker offers trading metals (gold and silver) and binary options. NordFX offers customer support in ten languages.
HYCM is a 6th place finisher in August 2016. The broker is an online division of Henyep Capital Markets, an investment company based in London. This broker operates since mid-1970s and is known as one of the most reliable industry operators. HYCM complies with the standards of the key regulatory agencies: FCA, DFSA, SFC and MiFID.
Trading instruments offered by HYCM include stocks, commodities, indices, equities, and so on. It takes just one real trading account at HYCM to have access to all the instruments. Demo accounts are also available, along with automated trading and expert advisors.
HotForex, 7th place in August 2016, is one of the frequenters of Forex-Ratings.com charts. The broker is a world famous investment company and trading provider. The company was founded in 2007 and is headquartered in Mauritius. Consequently, 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 highly professional HotForex support service is available worldwide 24/5.
The broker 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.
Fort Financial Services has finished the August 2016 race on the 8th position. This company is a licensed international forex broker operating under a license IFSC/60/256/TS/14 issued by International Financial Services Commission of Belize. The broker tracks its operational history from 2010 and has clients in more than 30 countries across the globe.
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, stocks and futures.
Giving a brief overview of the company, it offers a wide range of tradable contracts available among top 50 brokers of the world. 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 many more).
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.
FBS, an August newcomer to the ‘best of the best’ list of Forex-Ratings.com, has finished the month’s rally with the 9th rating result.
The broker was launched in 2009 and has its offices in 8 countries worldwide. FBS features the MetaTrader 4 and MT Mobile forex online trading top platforms. The broker works with 29 forex pairs, gold, silver, other metals, and CFDs for investment and trading options. The client support is provided in 13 languages.
The company closing the August 2016 voting list is XM.com. This 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. The clients of this broker 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.
Top 10 Forex Brokers in August 2016:
- FXCM ↑
- FIBO Group
- FOREX.com ↓
- NordFX ↑
- HYCM ↓
- Fort Financial Services ↑
- FBS (new)
Such are the results of the August 2016 competition on Forex-Ratings.com. In any case, within only a month the Top10 list may look significantly different!Ð’Ð’Ð’Ð’Ð’ Every first day of a new month all the rating results are reset and the rally starts anew.
Every new month all the rating participants have to strive for leadership and to prove their right to be in the Top10. All the rating participants take part in the rally on equal terms, regardless if these fx brokers have years of operational work on the financial markets or have been launched just recently.
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