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November 2016 Best Forex Brokers: The Freshmen Pose a Challenge

5 December 2016

Forex-Ratings.com is a forex database and assessment platform. It is up and going continuously on since 2006. The site comprises a colossal fx and binary database with details of operational activity of the most of the currency trading companies working worldwide. We work on improving all aspects of the trading process to support the two-way constant communication of brokers and their clients, which means both large institutions and individual traders.

Based on years of practical work, we at Forex-Ratings.com presume that any forex broker, including the big names, needs to be evaluated properly when a trader looks for a forex company to trade with. Right from the very beginning it is important to have a clear concept of the broker and to realize whether the offered trading conditions meet the trader’s expectations. It is a fact that even brand-new companies may show excellent performance, with well-targeted business solutions and proper client policy. Actual profiles of fx brokers that are available on Forex-Ratings.com can be of critical impotance when it comes to choosing the right forex broker.

Forex-Ratings.com highlights the brokers’ strong and weak points. With all the actual information constantly published on the site even new fx and binary traders can easily collect enough details to decide which brokers have the best conditions to offer. Forex-Ratings.com adheres to the principles of fairness and impartiality, and thus we give word both to the brokers’ supporters as well as to their rigid critics. The upfront discussion goes on on the site and never stops.

On any day and at any time our site provides latest updates regarding the companies’ offers, trading terms and conditions, spreads, quality of client support, and more. Our rating operates in the real-time mode and indicates which forex and binary brokers are on top today.

The present review deals with the top positioned forex companies as of November 2016. Compared to the previous month’s chart, the November Top10 has been 10% renewed. Namely, XM.com, the Forex-Ratings.com frequent top participant, has left the “Best of the Best” list, having provided a vacant position to a Forex-Ratings.com newcomer, XTB.com (8th place).

We greet all the November Top finishers and invite our audience to look into details of the Toppers’ performance of the month.

Congratulations to the November Top leader, FxPro! This broker belongs to the range of the most reliable and consistent forex companies. FxPro operates as a Hybrid Agency Model broker, offering Negative Balance Protection and enabling clients to access top-tier liquidity. It is regulated by by the Cyprus Securities and Exchange Commission (CySEC), UK’s Financial Conduct Authority (FCA), and South Africa’s Financial Services Board (FSB).

The broker features a broad selection of trading tools and assets. This variety includes equities, spot metals and futures of various types, such as commodity futures or spot futures.

Trading platforms available to FxPro clients include the latest versions of MetaTrader4, ECN FxPro cTrader, Mobile Platforms cTrader, MultiTerminal,WebTrader, etc. The broker’s top-notch support service is known for years as one of the best in the forex industry.

To add to that, there’s hardly a forex event in the global fx events’ calendar in which FxPro is not listed: the company is a regular participant of forex expos and conferences. FxPro is a regular winner of valuable titles for its forex business solutions.

In November FxPro has announced raising of the leverage for some currency pairs with the Mexican peso (MXN) and the Swiss franc (CHF) to 1:500. This is the maximum leverage ratio offered by FxPro and correspondingly, the broker’s dynamic leverage model applies to it.

FxPro uses a dynamic forex leverage model as a risk management tool on the MT4 and MT5 platforms. It automatically adapts the maximum leverage, based on the number open trading positions (lots) of clients. Leverage is calculated separately on each forex symbol, as margin requirements for different pairs vary.

The change in the trading conditions of FxPro is probably related to the election of Donald Trump as US president. The vote brought high volatility, especially with regard to the MXN crosses, as during his presidential campaign Trump vowed to rid the US of “bad hombres” as he referred to undocumented Mexican immigrants.

After the US election results were announced, the Mexican peso plunged by more than 13% against the US dollar to an all-time low - its biggest daily move in two decades.

FXTM, the runner-up in November, has improved its rating position, having climbed up from its October 5th  place. 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 under its belt already, including a total of seven in 2015, FXTM continues to grow and build its perfect business reputation.

In November the broker has officially announced the end of the FXTM Mountain Expedition. After 3 intense weeks of trading, 10 competitors traded their way to the top and claimed real cash prizes from a $100,000 prize pool. The climb to the top was difficult with only small percentages separating the contestants from each other. In the end, a trader from Indonesia has prevailed above the rest and walked away with the grand prize of $50,000.

FIBO Group (Financial Intermarket Brokerage Online Group) is the ‘bronze’ finisher of the November 2016 race. This company tracks its history from 1998 and is one of the veterans of the marginal Internet trading.  All the services offered by the FIBO Group holding meet the international standards and all the applicable regulatory norms.

FIBO Group constantly follows the principles of transparency, protection of their traders’ interests and strict compliance to the applicable laws and orders issued by the national regulators.

FOREX.com, 4th place in November 2016, is a broker with a 15-years long operational history (established in 2001). It is rightfully considered to be one of the oldest forex brokers of the global level. The FOREX.com parent company, GAIN Capital Holdings, is listed on the New York Stock Exchange. Consequently, FOREX.com follows the model standards of corporate governance and of reporting its financial activities.

FOREX.com offers a variety of trading platforms to meet the needs of different kinds of traders. During years of operation FOREX.com has acquired leading positions in currency trading and CFD trading.

The advantages of this broker are: first-rate trading tools; competitive pricing; tight spreads, transparent and reliable trading execution; and. FOREX.com team has spent many years elaborating a liquidity network of trading partners and investing in informational technologies. Therefore in any market situation FOREX.com is able to consistently quote tight spreads.

Besides, FOREX.com is particularly known for its diverse educational programs addressed to forex newbies. The company features regular webinars and video tutorials; its clients at any time can expect a personal and highly professional consultancy.

FXCM is the 5th place finisher in November. FXCM is a major liquidity provider and a market maker. The broker has licenses from regulators registered in the UK, a number of European countries, Hong Kong, Australia and the US.

The principal offer by FXCM is NDD forex trading. The broker offers competitive spreads on major currency pairs. Its clients 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.

FXCM offers a variety of platforms to meet demands of various types 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 FXCM traders have permanent access to the financial news, market surveys and technical analysis.

HYCM, 6th place, in November has shown somewhat decreased performance compared to the previous voting month which it has finished on the fourth position. The company 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. HY Markets complies with the standards of the key regulatory agencies: FCA, DFSA, SFC and MiFID.

HY Markets has fast and direct automatic execution of all of its products benchmarked on the largest exchanges such as COMEX, NYMEX, and others.

Trading instruments offered by HY Markets include stocks, commodities, indices, equities, and so on. It takes just one real trading account at HY Markets to have access to all the instruments. Demo accounts are also available, along with automated trading and expert advisors.

Fort Financial Services has finished the November race on the 7th position. The broker works on the currency exchange market since 2010 and has clients in more than 30 countries worldwide. Fort Financial Services is a licensed international financial broker operating under a license IFSC/60/256/TS/14 issued by International Financial Services Commission of Belize.

Fort Financial Services offers a broad range of tradable contracts available among top 50 brokers of the world. Hundreds of contracts to choose from include 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).

All the trading opportunities offered by the broker are specifically adapted to MetaTrader4, the world’s most popular and most reliable trading platform. Fort Financial Services also features NinjaTrader, a flexible and multifunctional trading platform dealing with different markets and trading instruments: forex, stocks and futures. For those who seek a more advanced level of trading the broker 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.

In November FortFS has received the "Best ECN/STP Broker" award at 17th MENA FFXPO 2016 in Dubai. And, keeping up with its policy of constant introduction of the new promos, in November the broker has launched its ‘just out’ specialty  - ‘Welcome Bonus 50 USD”.

XTB.com, 8th position in November, is a bright new star of the Top10 constellation. XTB Group has more than 14 years’ experience and is now one of the largest FX & CFD brokers in the world with a market capitalization of more than $400m. The company’s offices are located in over 11 countries including UK, France, Germany, Spain, Poland, and Turkey. XTB is regulated by the world’s largest supervision authorities including the FCS, KNF, BaFin and CMB.

HotForex, the 9th place finisher in November, demonstrated steady performance during the last autumn month, having finished the month’s rally on exactly the same position as one month before.

HotForex is an investment company and a trading provider famous worldwide. The company deals with investment companies and fund managers as well as with private traders offering services in trading currencies and commodities. 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).

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 professional HotForex support service is available worldwide 24/5.

FBS is a company closing Top10 of November 2016. This forex broker has been launched in 2009. As of now, it 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.

In November FBS has introduced launching a VPS server, a service for traders using expert advisors. With a VPS server a trader can set expert advisers work for their benefit 24/7, even in the offline mode. The broker claims the new service is safe, speedy and reliable. To receive a VPS server a trader needs to make a deposit and to trade a specified number of lots.

As for other FBS promotions, in November the broker has announced the launch of a new lottery with a prize fund comprising BMW X3, ten IPhones 7 and one hundred designer T-shirts. Traders with accounts of $1,000+  are qualified to take part in this promo. The results are to be announced on December 30th, 2016.

Top 10 Forex Brokers in November 2016:

  1. FxPro
  2. FXCM ↑
  3. FIBO
  4. FOREX.com ↑
  5. FXCM ↓
  6. HYCM ↓
  7. Fort Financial Services
  8. XTB (new)
  9. HotForex
  10. FBS ↓

These are November 2016 voting results. However, within a month the ‘constellation’ of the best forex brokers might change significantly. Keep the track of the ever-changing voting results! The winners’ chart displays the results of the monthly votes. Any Forex-Ratings.com registered user vote for or against any of the fx brokers featured in the rating. Any forex trader, regardless of their level of trading expertise, is welcome to join the Forex-Ratings.com community. Within 24 hours any voter can cast three votes for/against the listed brokers. And, each trader’s review helps shaping the overall picture of the global currency trading market of today.

On the 1st day of a new month all the previous voting results are reset automatically. Hence, equal chances are given to all the brokers of the listing. In fact, a broker’s position in the listing may change significantly even in a very short space of time. And it also may turn out that for some listed brokers the voting figures remain unchanged for a sustained period of time.

We constantly stay in touch with forex brokers advertising on Forex-Ratings.com. At any time our platform is open for the new fx brokers: new members join the Forex-Ratings.com rating and thus introduce themselves to the broad forex trading community. The highlights of Forex-Ratings.com are its interactive platform, active and critical audience and lots of promotional opportunities provided to forex companies searching new clients.

Join us and make your opinion be heard by the global forex trading community, for every opinion matters on Forex-Ratings.com!


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