Traders Union conducted an extensive evaluation of 351 global trading platforms to reveal its latest list of the Top Forex Brokers of 2023.
After a careful assessment, experts at Traders Union have published their selection of the financial portal’s website, each accompanied by its corresponding TU Overall Score.
All brokers were assessed using a uniform scoring system called the TU Overall Score, ranging from 0.01 to 10.0, where higher scores signify greater reliability.
Brokers achieving scores between 8.0 and 10.0 are considered highly trustworthy, while those scoring between 7.0 and 7.99 are also deemed reliable. Platforms in the 5.0 to 6.99 range are considered mid-level and generally dependable but warrant careful consideration.
Advertisement
Brokers with scores between 3.0 and 4.99 pose significant risk and require thorough analysis, while those that scored 2.99 or lower are not recommended for trading due to their lower trustworthiness levels.
Roboforex claimed the top spot with an outstanding overall score of 9.78, followed by Exness, which surpassed Pocket Option to secure the second position with a score of 9.71. Tickmill secured the third spot with an impressive 9.64 overall score, followed closely by FX Pro, recognized for its significant growth in the past year.
Meanwhile, AAFX secured the fifth position with a score of 9.5, closely trailed by AM Markets with a score of 9.43. Pocket Option dropped from its previous second position and now holds a rating of 9.36.
Advertisement
Rounding out the list of the Best Forex Trading Brokers are OctaFX, Libertex, and Forex4you, which received scores of 9.29, 9.22, and 9.15, respectively.
Traders Union's AMarkets review 2023 revealed the reasons behind the platform's unexpected rise to the sixth position from its previous eighth rank.
Established in 2007, AMarkets is known as an Electronic Communication Network (ECN) broker, offering highly competitive spreads starting at 0 pips. The average market spreads within the brokerage company start at 0.3 pips, which is lower than the industry average of 0.5 pips.
AMarkets also offers one of the highest leverage ratios in the Forex market at 1:3000, along with a wide range of financial instruments, including stocks and cryptocurrencies in addition to currency pairs.
The platform boasts swift order execution times, ranging from 35 to 50 milliseconds, compared to the industry average of 200 to 500 milliseconds. With a minimum deposit requirement of only $100, traders gain access to significant passive income opportunities through AMarkets Copy Trading.
Traders Union underscores the critical importance of selecting the right Forex broker, as it plays a pivotal role in achieving profitability in trading.
While the foreign exchange market presents boundless earning potential, TU experts remind traders to remain mindful of accumulating costs and recommend platforms that offer attractive fee structures.
In any investment endeavor, Traders Union emphasizes the need for vigilance and strict adherence to exchange regulations to safeguard investments in this rapidly evolving digital landscape.
Advertisement
Disclaimer: The above is a sponsored post, the views expressed are those of the sponsor/author and do not represent the stand and views of Outlook Editorial.
