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How To Find The Top Forex Brokers Based On Forex Ranking?

by MatesNews

The Forex ranking system uses voting results to evaluate forex brokers. Forex ranking participants can be found on the website at the same time, and the website is updated with the latest rankings every week. For more information about the ranking system, see the Forex Ranking FAQ.

Forex Ranking Helps The Traders

The Forex Ranking system is based on the votes of forex traders and is reset on the first day of each month to ensure equal opportunity for all participants. IG has a comprehensive selection of trading instruments including stocks, currencies, CFDs, forex options, and more. The company is regulated by the US and Swiss governments and has nearly a dozen global licenses. The studies about forex ranking show the list of the best forex brokers.

A forex ranking also considers the customer support offered by a forex broker. Others offer customer service in different languages, which demonstrates their global reach. Lastly, check the regulatory body of the broker to ensure it is legitimate. A good broker should be a member of a professional association or a reputable regulatory agency. This way, you know that the broker is protected by regulators. A good broker should be regulated by one of these bodies and will respect your privacy.

How To Avoid Forex Trading Scams?

When looking for a Forex broker, you have to make sure you are not dealing with a scam. Many fake brokers operate by setting up an account for you through a shady broker who does not have the proper license. These brokers wipe out your account and then blame it on the market when in reality, they are to blame.

These signals work like a user guide, and if you follow the wrong signal, you can end up losing money. You can avoid scams by checking the list of fake forex brokers before signing up for signals. Most signal scammers are associated with certain brokers. Therefore, before signing up for a signal, you can verify the list of fake forex brokers and avoid forex trading scams.

The most popular fake forex brokers list includes investment firms that send unsolicited emails enticing potential traders with eye-catching lucrative offers. These emails are usually written by a professional, so people may easily be fooled. One way is to check the registration of each broker with the Financial Conduct Authority.

There are many reasons to check out a broker’s background. Most successful traders will not be able to identify a fake broker from a fake forex brokers list. Emotional attachment to the broker, as well as a bad relationship with the broker, can lead to losses. Moreover, many fake forex brokers have no real capital to cover the trades, leaving the trader’s money at risk.

Forex Trading Scams 

To spot a fake forex broker, you can ask for proof and background information. If a broker refuses to give proof of background and trading experience, they’re probably a scam. They may also offer free demo accounts with bogus signals. And, of course, don’t ever trust a broker with limited information. Listed below are some of the most popular forex brokers available on the market.

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