Traders Union financial experts recommend using a well-planned approach when selecting a broker. Traders should thoroughly research and analyze all aspects of potential brokerage firms to start a successful and profitable Forex career.
Traders Union specialists suggest that traders should pay attention to the reliability of the brokerage and confirm that it is licensed by a reputable financial regulator.
How Do Traders Union Experts List the Top 5 Forex Brokers?
Traders Union’s financial experts apply over 100 proprietary metrics to objectively assess, analyze and investigate a broker’s trading activities. They are divided into five main groups, which ensure a comprehensive approach during the evaluation process
Indices used to analyze broker performance
- If the broker is licensed and supervised by at least one reputable government agency and regulatory body having jurisdiction in the state where the broker is
- The duration of the company’s work in the financial market. The advantage should be given to brokers who have been actively and continuously providing spotless brokerage services for at least 5 years.
- Professionalism and efficiency of the broker’s support service. It is important to have a support working 24 hours a day and to have the possibility of being contacted via several means of communication.
- A broker’s trading conditions should be both favorable and comfortable for the client. These include a reasonable minimum deposit, leverage, adequate training materials, a variety of basic trading instruments, and multiple deposit and withdrawal methods.
- The reputation of the broker and the level of satisfaction of its customers and the quality of its services can be gauged by a thorough review of a broker’s online reviews. Several parameters are used to ensure that (1) the reviewer is in fact a current or recent client of the broker being reviewed and (2) that the review is, in fact, objective in its overall scope and commentary. TU’s team of experts also examines: how a broker takes care of its reputation; if it reacts to negative customer feedback; and the speed with which he reacts to improve his conduct or the working conditions in his company.
Every trader can study these five main areas of each broker as the information is publicly available on each broker’s website. It takes a lot of work to dig
important details and compare results to competing brokers. But you don’t have to do the hard work because the Traders Syndicate has already done it for you. You can find the results of TU’s full scans and Top 5 list Best Forex Brokers on the Traders Union website.
Top 5 Forex Brokers According to Traders Union
Based on a comprehensive review of Forex brokers, Traders Union experts have compiled the top 5 brokers in the Forex trading industry. This list includes brokers who have consistently achieved top scores on all basic metrics, achieved the highest level of client trust, maintained a positive reputation, and also have exceptional trading conditions compared to their competitors.
- The minimum deposit is $10. Suitable for independent trading and investing through the CopyFX service.
- The minimum deposit is $1. It will suit novice traders as it has a penny account with optimal leverage.
- The minimum deposit is $1. The company offers a variety of trading instruments as well as liberal leverage with equity up to 999 USD.
- Admiral Markets. The minimum deposit for traders is $100 and for investors it is $1. The company operates under the supervision of authoritative financial regulators FCA, ASIC and CySEC.
- The minimum deposit is $100 with leverage up to 1:500. The company has a 24/5 support service and its activity is regulated by FCA, CySEC and FSCA.
These brokers are the most popular among traders because they are customer-oriented and provide high-quality professional support. This is evidenced not only by the test results of Traders Union experts, but also by the ratings of traders on cooperation with brokers.
How does the Traders Union help traders choose a broker and protect themselves from scammers?
The Traders Union is an association of Forex traders. He has been working in the financial markets since 2010. Registration and participation in Traders Union is free for all traders. In return, traders working with brokers through the Traders Union get additional income for every trade executed – whether profitable or not – and the right to legal assistance in the event of a dispute with a broker. .
The Traders Union site contains many expert articles on various financial and economic topics, as well as instructions and training guides on how to choose a broker for Forex trading, and how to distinguish scammers from trustworthy companies. In addition, Traders Union financial experts conduct recurring broker reviews, formulate objective ratings and publish a list of the best Forex brokers for free to the public. brokers with bonus.
Thus, each member of Traders Union has access to the results of a complete and thorough research, as well as detailed and objective information on the best brokers. In addition, these traders, who cooperate with brokers through the Traders Union, work in Forex under the protection of
TU’s highly qualified lawyers, all members of the bar.
Posted on January 18, 2022