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Forex-Ratings.com provides all kinds of forex information that might be necessary to traders in their currency trading activities, including companies’ news and analytics as well as reviews and comments on the brokers’ daily performance. On our site you can at any time refer to the ‘Compare Brokers’ tool helping evaluate 2+ brokers at a time by dozens of criteria. This comparison tool is something you might really need when it comes to choosing a forex broker here and now.
Another interactive and popular tool available on Forex-Ratings.com is voting: any registered site visitor can cast up to three votes within 24 hours in favor of or against the brokers listed on the site’s main page. Thus, the position of any listed broker is related to the activity of its ‘fan base’ voting for their favorite fx company and against its competitors.
Day by day Forex-Ratings.com delivers well-targeted and verified information to its audience. Our database contains information on the majority of forex and binary brokers that have ever been present on the market. It is a part of our daily activity to help novice traders in choosing a right broker to trade with. We help making an express evaluation of the strong and weak points of any listed broker. And, we are always in time delivering the latest news of the currency exchange market. On our site you are always aware of the latest market trends, actual offers of forex and binary brokers, etc.
We assume that our continuous and persevering work helps improving the quality of the services offered by the forex industry. On the one hand, we help currency traders make right choice of a broker. On the other, we stimulate the companies to constantly improve the quality of the rendered services.
This review deals with October 2016 Forex-Ratings.com voting results.
The pack leader, FxPro, as well as FIBO Group (3rd place), FXTM (5th place) and XM.com (10th place) have managed to keep the same positions as one month ago. Compared to the previous voting month of September, improved are the positions of FXCM (now 2nd place), HYCM (4th place), Fort Financial Services (7th place) and FBS (8th place). The October position of FOREX.com (6th place) has significantly deteriorated compared to the ‘silver’ result of September. Correspondingly, HotForex in October has performed not same well as one month ago (9th place vs.7th place in September).
In any case, we see that all the Top members have gone strong during the recent months. Let’s see more into detail about their performance and latest offers.
The leader of the October 2016 Top10 race is FxPro, which is known as one of the key global online fx brokers with years of successful performance. FxPro is regulated by Cyprus’ Securities and Exchange Commission (CySEC) and UK’s Financial Conduct Authority (FCA). The company operates as a Hybrid Agency Model broker, offering Negative Balance Protection and enabling clients to access top-tier liquidity.
Trading platforms offered by the broker include FxPro MetaTrader4, ECN FxPro cTrader,FxPro Multiterminal, FxPro Mobile Platforms. Trading assets and instruments offered at FxPro are plentiful. The company offers full-cycle services for all retail forex market segments, as well as trading with indices, futures, shares, metals and CFDs.
FxPro vault system provides prompt cash operations. FxPro ECN accounts start from $1,000. Hedging and scalping are allowed at FxPro.
A trusted broker featuring top-notch trading technologies, FxPro offers superior solutions in matching orders and execution. 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.
According to FxPro’s annual accounts filed at the beginning of October 2016 with the UK Companies House, the broker has tripled both its revenues and trading volumes in 2015. The total revenue of FxProfor the previous year was nearly £2 million, shows the accounts report, while in 2014 the company registered a net loss of £63 537.
At the same time, throughout 2015 trading volumes at FxPro UK amounted to $63.5 billion, a figure which is almost three times higher than 2014’s $22.8 billion. This is mainly due to the client number increase, along with a rise in trading activity because of greater market volatility in 2015.
In line with its transparency policy, earlier in August the brokerage revealed key execution statistics for the second quarter of 2016, ending June 30. According to the data provided, orders executed with positive slippage continued to dominate in Q2, rising to almost 50%, and requotes shrink further.
The ‘silver’ finisher of October 2016 is FXCM. The company demonstrates consistent and steady performance and for a long time remains one of the frequenters of the Forex-Ratings.com Top10 participants.
FXCM is a major liquidity provider and a market maker and a market maker. It has licenses from regulators registered in the US, UK, a number of European countries, Hong Kong and Australia.
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.
In mid-October the broker has made public certain trading metrics regarding its retail and institutional businesses for September and for the third quarter of 2016. According to the data reported, FXCM’s retail trading volume for Q3 was $875 billion, 4% higher than the second quarter 2016. In September alone, FXCM’s retail trading volume posted a 20% monthly growth to $324 billion, which is the second best monthly result in 2016.
In addition, FXCM handled on average 563,001 retail client trades in September and 41,397 institutional client trades per day. Meanwhile, FXCM’s main competitor, Gain Capital, also saw its Forex.com trading volumes picked up in September.
FIBO Group (Financial Intermarket Brokerage Online Group), the October 2016 ‘bronze’ finisher, has been established in 1998 and is one of the oldest players in marginal Internet trading.
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. All the services offered by the FIBO Group holding meet the international standards and all the applicable regulatory norms.
FIBO Group is constantly improving its educational programs, by offering unique analytics and webinars to the clients, giving training workshops around the World. Very soon the broker is going to be the General Sponsor of the Philippines Forex Expo, which is to take place 15-16 of November, 2016, in the City of Makati.
The 4th step of the October 2016 ladder belongs to HYCM. This 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 key 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, tight spreads on major currency crosses range from 0.5 to 2 pips. The spread can be both fixed and variable.
HYCM 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. HYCM clients can use automatic trading; expert advisors and such trading strategy as hedging are also available.
The 5th position of the October 2016 voting goes to FXTM. 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 already received, FXTM continues to grow and build its perfect business reputation.
On the 6th step of the October 2016 ladder we see FOREX.com. This broker having been established in 2001 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 famous for its elaborated educational programs designed mostly for novice currency traders. The company hosts webinars and video tutorials, its clients can at any time call for the qualified support aid.
In October FOREX.com reported that both its retail and institutional trading volumes have increased in September 2016, compared to previous month. The broker’s OTC retail volume came in at $207.8 billion, up from $191.9 billion reached in August, however the figure represents a significant drop of more than 40% compared to the same period a year earlier.
Gain Capital‘s institutional volume, on the other hand, increased both on the month (by 24.1%) and on a yearly basis (by 28.7%), coming in at $186.3 billion.
What is more, the broker reported its average daily volume in September amounted to $9.4 billion (up 13.2% MoM) in the retail segment and $8.5 billion (up 29.8% MoM) from institutional operations. Active OTC retail accounts declined by a monthly 1.9% to 133,009, also posting an annual drop of 11.2%.
Fort Financial Services, 7th place in October 2016, 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’s operational history has begun in 2010 and now it has clients in more than 30 countries across the globe.
The trading opportunities offered by Fort FS 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.
FortFS 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 FS offers a CQG platform thus giving a direct market access to more than 40 world top exchanges through a global network of united exchange gateways and servers.
In October Fort Financial Services has introduced its Profit Bonus promotion, which aims at boosting the traders’ profits. During the period between 24 October and 25 November 2016 every profitable trade is to be rewarded with 2% of the resulting profit. The percentage amount credited will be available for withdrawal with no restrictions.
Besides, in October Fort Financial Services has announced its participation at the 17th MENA Financial Forum & Expo, this time as a Silver Sponsor nominated in 3 categories: Best ECN/STP Forex Broker, Best Islamic Forex Broker and Most Trusted Forex Broker. The event is to take place 3-4 November in Dubai.
FBS, 8th place finisher in October 2016, is a broker launched in 2009. By now it has 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.
In October FBS has announced receiving a new industry award. The broker has been acknowledged by the European magazine to offer the “Best contests, promotions and trading conditions 2016”.
HotForex, 9th place in October 2016, is one of the frequenters of Forex-Ratings.com charts. 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). FBS is an investment company and a trading provider famous worldwide. It deals with investment companies and fund managers as well as with private traders offering services in trading currencies and commodities.
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 competent HotForex support service is available worldwide 24/5.
XM.com is the broker closing Forex Ratings ‘best ten’ of October 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.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.
Top 10 Forex Brokers in October 2016:
- FXCM ↑
- FIBO Group
- HYCM ↑
- FOREX.com ↓
- Fort Financial Services ↑
- FBS ↑
- HotForex ↓
Such were October 2016 voting results. Next month, however, it may turn out that the ‘best of the best’ list will be very different from now. Every 1st day of the month the previous Forex-Ratings.com voting results are nullified and the new month’s voting rally starts from the ‘zero’ point.
Our site voters are those who determine which forex companies show best performance these days, and which brokers have to improve yet. In any case, each listed broker has a chance to reach the top, as all the monthly race participants have equal odds.
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