Trading forex and making big profits is surely the world’s best universal truth. However, forex trading can go wrong as well especially if you are inexperienced. Amongst all other factors, choosing the right broker is the most crucial part to have purposeful forex trading. It is pertinent to mention here that the TopBrokers.com portal has recently upgraded its main rating of Forex brokers https://topbrokers.com/forex-brokers for year 2018. You can choose a good forex broker by going through the ratings provided by TopBrokers.com.
In this article, we are going to discuss an effective way to determine if the broker you wish to invest in, really worth your investment? We are essentially talking about brokers rating. Rating of brokers is the most reliable way to conclude whether or not you should invest your hard earned money with the prospected broker.
Some of you may wonder thinking how exactly ratings are derived? It’s pretty simple, ratings are derived by various entities including but not restricted to regulatory authorities, customers, independent surveyors and of course websites such as topforexbroekrs.com. There are various factors that need to be taken into account to derive the rating for a forex broker such as services and tradeable assets offered by a broker, its platform, the status of its regulation, order execution time lapse, and its jurisdictional limitations. By the way, topforexbrokers.com have recently updated the latest ratings for forex brokers.
How and Where To Find Ratings of Forex Brokers?
Since we’ve mentioned above that forex broker’s rating is one of the most crucial points in selecting a good forex broker, therefore, we’d like to second our opinion here as well mentioning some sources that play their part in deriving the overall rating for a forex broker. Please find them listed below.
1) Rating Websites
Since the market has been bombarded with every day emerging forex brokers, therefore, selecting the best broker can drive you nuts. However, thanks to rating websites that makes things go smoother. Rating websites hold a list of best and worst brokers and keep updating it following a complex rating algorithm. If you are new to forex trading, then rating websites can be very helpful for you.
2) Public Forums
Visiting public open source forums can also be a good idea to know what forex brokers have the most favorable votes. You may also notice some people appraising a forex broker whereas some seem to be casting their votes against it. You don’t need to get confused here, because it may not exactly be the way you perceive it. It could well be the case that people winning their trades by using some XYZ broker are loving it, while those who lost their investment using the same broker are just expressing their frustration. Try to collect some facts and figure quoted by different people over there and try to find some supporting information by searching it over the google. If you end up finding the facts to be true, go for the broker otherwise staying back would be a better option.
3) Trading Volume
As we’ve mentioned earlier that not just a single factor determines the credibility of a good forex broker but several factors collectively make us arrived at the conclusion. Trading volume is also one of those factors. Rating of a forex broker is also derived on the basis of its customer’s executed trading volume. High volume execution represents that the broker mostly keeps its customer on A-book. On the other hand, low trading volume execution presents a totally different image of a broker.
4) Alexa Rank’sOfficial Website
Alexa ratings are considered to be the most renowned source for providing reliable ratings for different websites. The website incorporates variant factors to derive the rating of any website. Factors such as the number of visitors visiting the website, the time each visitor spent on the website, site linking and search traffic percentage are included.
Although, experts seem not be on the same page concerning the algorithm that Alexa uses to rate different websites, however, they unanimously second the fact that Alexa gives more reliable rating than any other website known for rating purposes. Forex brokers having good rank at Alexa tend to be safer as compared to those being ranked as a bad forex broker. Topforexbrokers.com has been able to secure a very good position in the Alexa ranking.
Top Places to Find Out Reliable Forex Brokers in 2018
By 2018, many online sources have become available to offer information about the ratings of forex brokers. Please find a few of them mentioned below.
How Top Rated Forex Brokers ExpandsTheir Operations?
To have a large clientele base of satisfied customers, it is important for brokers to offer exceptional services. This is how the broker doesn’t only manage to increase their business but also be able to secure a good rating. Usually, forex brokers are supposed to have more products and services compared to those who deal in binary options, cryptocurrencies, and stocks. Listed below are some points that help forex broker to succeed.
Excellent Customer Services
Customer support is considered as an essential element contributing towards the success of an organization. Topforexbroker.com always ensure the availability of professional and customer service oriented staff round the clock.
Here comes another most important factor that most of the traders are concerned for. Regulation helps users to have an assurance that their investment is in safe custody. Therefore, reputable brokers always keep a regulation from the world’s renowned regulatory bodies such as CySEC, ASIC, FCA and some other regulatory bodies.
Forex brokers offering cutting-edge trading platform are observed to have more customers’ inclination towards them as compared to brokers offering traditional trading platforms. Exceptional trading experience can only be possible if the trading platform has all trading tools and features available that are regarded as the backbone of the forex trading. Platforms such as MT4, Sirixtrader, and Avatrader are some examples of cutting-edge platforms.
Final Words: Stay Safe in the Forex Industry
We wrote this article keeping in view the safety of a forex trader. We know, forex world is huge; you can easily be carried away especially if you have no previous experience in the field of forex trading. Therefore, it is very important to open an account with a good forex broker so you may not end up having a negative balance in your account even in case of the worst scenario.