Traders Union Experts Updated the Rating of the Top Forex Brokers
The list of Top Forex Brokers 2021 was formed by Traders Union financial experts based on a comprehensive study of the brokers' activities, and every company was checked under more than 100 basic parameters. The results of the research have identified the most powerful Forex brokers, that take the leading positions in their segment and are most popular among traders.
TOP 5 Forex Brokers
The top five Forex brokers include FxPro, XM Group, Admiral Markets UK, AvaTrade and FXTM. FxPro remains the market leader.
FxPro maintains its leading position in the Forex market thanks to its record trading volume, which is growing steadily in this company. Along with it, the interest of traders in FxPro services is growing — Traders Union experts also note an increase in the broker's client base. Both of the parameters allow FxPro to maintain consistently high results under key parameters, far ahead of its competitors.
The battle for the second place in the list of Top Forex brokers continued between XM Group and Admiral Markets UK, and this time the XM Group turned out to be stronger. It gained more new active customers and, thus, ranked XM Group in terms of customer growth. Nevertheless, Traders Union experts note that both companies keep all the basic parameters practically at the same level - XM Group is ahead of Admiral Markets UK by only 0.1 point.
AvaTrade and FXTM fought for the fourth place in the TOP Forex brokers. The winner of this battle was AvaTrade. As a result, FXTM moved up to the fifth position with a minus of only 0.2 points.
AvaTrade was able to take anti-crisis measures in time and activate all its reserves in order to increase trade turnover and improve its position in the rating of Forex brokers. The AvaTrade team focused on attracting new investors and this strategy turned out to be a winning one.
Meanwhile, FXTM is not backing down and continues to actively grow its client base, and the broker's trading turnover is growing. This positive dynamics is facilitated by a powerful advertising campaign, as well as the high level of reliability of the FXTM broker.
Basic brokers' parameters that are analyzed by Traders Union experts
The parameters that are analyzed by experts and analysts are divided into five functional groups and are part of the Traders Union methodology - an algorithm developed to evaluate the brokers' activities.
- The first group is financial. Consists of 22 parameters.
- The second group is economic. Consists of 18 parameters.
- The third group is the client group. Consists of 27 parameters.
- The fourth group is reputational. Consists of 17 parameters.
- The fifth group is service. Consists of 23 parameters.
The aim of the research conducted by Traders Union experts is to create the most objective and independent rating of Forex brokers. This goal is achieved by the careful analysis of the brokers' activities, as well as by analyzing and comparing the obtained indicators in dynamics.
The research underlying the rating was based on the analysis of the trading parameters of the world's largest community of Forex traders — Traders Union.
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Traders Union Team