Trades Union

Limassol Cyprus

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TOP Forex Brokers Rating Update

Traders Union Brokers Ratings

Based on the audit of brokerage companies and a thorough analysis of the data obtained during the verification process, the Traders Union Rating of Forex Brokers was updated on a scheduled basis. The audit was carried out using a unique methodology developed by Traders Union specialists, which includes more than 100 parameters and criteria used to check every brokerage company. Thus, an objective rating table was formed, reflecting both the dynamics of the brokers' movement in the rating and in the market as a whole.

TOP-5 Forex Brokers in the Traders Union Rating

The TOP-5 traditionally include the strongest brokerage companies that provide the most favorable trading conditions in the Forex market and are in high demand among investors and traders. As of August results, the TOP-5 includes: FxPro, Admiral Markets UK, XM Group, AvaTrade and FXTM.

They got the highest scores on the following parameters:

  • Trade turnover and growth.
  • Financial indicators.
  • Reputation and customer confidence.
  • Innovative products.
  • Service and customer support.
  • In addition, these companies showed the highest results by a number of additional parameters.

FxPro regained the first place in the rating and the status of the market leader. It managed to consolidate its position despite the increased activity of competitors. FxPro results turned out to be the highest, thanks to which the company got far ahead of all contenders for the first place in the Traders Union Rating.

Admiral Markets UK further followed its main rival, FxPro, and took the second place in the rating. This company was not stopped even by the decline in trade turnover recorded earlier, Admiral Markets UK still made a breakthrough and restored the previous level of trade growth.

The active struggle between XM Group and AvaTrade continued in August as well. In turn, AvaTrade also gained momentum and was placed in fourth place in the rating.

An identical situation was repeated by the following two rating participants - FXTM and FXCM. FXTM got ahead taking the fifth position and solemnly closed the TOP-5. FXCM is in the sixth place.

What Principles are Applied for the Traders Union Forex Rating?

The main distinguishing feature of the Traders Union Forex Rating is the complete absence of any influence from brokers. The rating table is always formed based on the real results of brokers obtained in the process of multilevel verification, which makes the Traders Union rating as objective and relevant as possible.

Basic parameters used by Traders Union specialists to check brokers:

  • Economic and financial. Here, we consider the dynamics of the trading growth, the average speed of money withdrawal, processing of customer trade orders, and much more.
  • Customer and reputational. In this category, customer reviews about the company are considered. In addition, we carry out an internal inspection with our agent introduced under the guise of a customer.
  • Service and support.Here we consider the comfort level of the broker's trading conditions, the actual feedback speed, the quality of resolving claims, etc.

Full List of TOP-10 Brokers of the Forex Rating

The second five of the Traders Union TOP-10 Forex Rating was formed by brokers: 6th place - FXCM, 7th place -, 8th place - Swissquote Bank SA, 9th place - Tickmill, and 10th place - RoboForex.

Studies on which the rating was built were conducted based on analysis of trade indicators of the largest community of Forex traders in the world - Traders Union.

Date: 28.09.2020