Traders Union conducted a comprehensive analysis of 351 global trading platforms to unveil its latest compilation of the top Forex Trading Brokers for 2023.
Forex Trading Brokers 2023
Traders Union conducted a comprehensive analysis of 351 global trading platforms to unveil its latest compilation of the top Forex Trading Brokers for 2023.
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The experts employed various comparative methodologies to address critical inquiries, including which platforms offer the most favorable fee structures and incentives, and which brokers are authorized to operate by renowned regulatory bodies.
These include leading names like the Australian Securities and Investment Commission (ASIC), the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySec), and which ones have received exceptional feedback from customers.
Following a careful assessment, Traders Union experts have finally unveiled their roster of the finest Forex brokers for 2023, accompanied by their corresponding TU Overall Scores.
Roboforex ranked first with an overall score of 9.78, while Exness has overtaken Pocket Option on the second spot with a 9.71 score. On the third spot is Tickmill with a 9.64 overall score, followed by FX Pro, which has also been distinguished for its dynamic development last year.
Meanwhile, AAFX secured the fifth spot with a score of 9.5, followed closely by AM Markets at 9.43. Pocket Option dropped from the second spot with a 9.36 rating.
Completing the list of the Best Forex Trading Brokers are OctaFX, Libertex, and Forex4you which scored 9.29, 9.22, and 9.15, respectively.
Traders Union paid particular attention to its Forex4you review 2023 after the platform saw a significant drop to the 10th spot in the latest deliberation. Despite its lukewarm performance during the period, it still holds the distinction as the Best Cent Broker during the Traders Union Awards in 2022.
The platform has been in the market since 2007, making it one of the staples that has been trusted by global Forex traders for more than a decade. While it offers a leverage of 1:1000, its account currency is limited to USD and EUR, making the options constrained for traders that do not have access to these denominations.
Nevertheless, Forex4you offers one of the lowest pips in the market for regular account holders which ranges between 0.1 to 2.0 pips. This makes it an ideal choice for novice traders who are still getting themselves familiar with the nooks of Forex trading.
Likewise, the brokerage company offers no trading restrictions for scalpers and algorithmic traders, while opening the possibility to earn passive income through its social trading platform Share4you.
The recent assessment conducted by Traders Union thoroughly analyzed the fee arrangements, incentives, and adherence to regulations of leading participants in the financial markets. These elements play a crucial role in traders' choices when selecting the most suitable broker.
The TU Methodology used 100 standard evaluation criterias to assess participants in terms of five basic categories namely financial standing, reliability, safety, trading conditions offered, and service work.
The result is the TU Overall Score which is a scoring system which rates companies from 1 to 10, with 10 being the highest.
Companies within the 8.0 to 10.0 threshold are considered trustworthy, and Traders Union experts are willing to personally invest in these platforms without hesitation.
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