Press Release (ePRNews.com) - Feb 18, 2021 - Traders Union’s Research Department experts published the results of a comprehensive study of Forex brokers’ activities, comparing them against a strict protocol containing over 100 criteria, resulting in a list of the Best Forex Brokers for 2021.
Top 5 best brokers in the Forex market
An expert assessment of all Forex brokers’ activities has once again confirmed that FxPro remains the leader of the Forex market. According to the study results, the indicators of the trade turnover of FxPro have proven that FxPro is once again the best Forex broker. This result is primarily due to the broker’s customer orientation and its constant improvement of the most suitable conditions for trading.
The main competitors of FxPro are XM Group and Admiral Markets UK brokers. Their indicators are almost equal, but at the moment, these companies cannot compete with the market leader in terms of customer turnover. However, they demonstrate a high level of service.
This time, with a margin of only 0.1 points, the second place went to XM Group, and Admiral Markets UK received bronze.
Fierce competition in the top three leaders in the Forex broker rating did not allow AvaTrade to return to the Top 3. However, its indicators grew significantly compared with the results of the previous study. Experts note that in the struggle for leadership, AvaTrade is making serious attempts to stay ahead of its closest competitors.
According to the results of the research, the fifth line of the rating was taken by the FXTM company, having displaced the FXCM broker among the Top 5 list of the Best Forex Brokers.
How the rating of the best Forex brokers is updated
The basis for updating the rating of the Best Forex Brokers is an audit of each company’s basic parameters, which is carried out according to a unique methodology developed by the experts at Traders Union. The principles of data objectivity and independence of experts from brokers underlie this methodology. Each broker is checked according to several uniform criteria that form five main functional groups:
- First group: Financial.
- Second group: Economic.
- Third group: Clients.
- Fourth group: Service.
- Fifth group: Reputation.
Within each category of criteria, a separate rating list of brokers is formed based on the checked results. All these lists are thoroughly investigated, and a single rating of the best brokers is compiled. Thus, the Traders Union’s main goal is achieved: the creation of the most objective and independent rating of Forex’s best brokers.
Reference: Traders Union is the largest global community of traders, which has been providing its services since 2010. During this time, the number of members of the Union has exceeded 300,000.