Forex Broker Rating 2023
Contents:
• For novice Forex traders, choosing a reliable broker becomes one of the main issues. The financial situation of beginners does not allow them to work by trial and error, open deposits in several dealerships, so they have to focus on the analytical activities of experts, reviews of experienced traders.
• The independent rating of Forex brokers in 2023 was compiled based on the results of a thorough analysis of the main indicators and real reviews of clients of dealing centers on neutral "reviews".
Best Forex Brokers 2023
1.Alpari Limited
Official site:
• The international broker began real work in the Forex market during a severe crisis. In the international market, the company, registered in the offshore Saint Vincent and the Grenadines, has experienced ups and downs. But in the Russian market, the most reliable Forex broker has been working steadily for 20 years. Novice traders should not confuse the Alpari Limited dealing center with the Alpari Broker company, which worked on the stock market. The activities of the subsidiary, whose license was revoked by the Central Bank of Russia, had nothing to do with the Forex market.
• For twenty years of activity (the company has actually been operating since 1999, with formal registration in 1998), the broker has gained international prestige, representative offices have been opened in Belarus, Ukraine, Moldova, Kazakhstan, Uzbekistan.
• The significant advantages of the Alpari conditions for traders should be recognized:
- minimum deposit of $1;
- ECN accounts providing access to interbank liquidity;
- multiple language support;
- extensive analytics;
- non-traditional currency pairs (including AUD/CAD, GBP/SEK, USD/TRY, GBP/SGD, USD/DKK, NZD/JPY, EUR/NOK);
- telephone dealing;
- abundance of webinars;
- broadcasting the Dow Jones tape;
- various service packages.
• The official title of "The Best Forex Broker" is not awarded. But the regular, for fifteen years, getting Alpari Limited into the top three Russian leaders entitles the international broker to claim such a title.
2. Forex Club (FX Club)
An international broker operating in the CIS area began its activity in 1997. FX Club is registered in offshore Saint Vincent and the Grenadines. In addition to Russia, the group of companies is popular in Ukraine, Armenia, Kazakhstan, and is included in the register of the National Bank of Belarus.
• Trading conditions and differences:
- minimum lot – 1000 deposit units;
- zero spreads and commissions;
- a large set of trading instruments (including stocks, metals, energy carriers, the Russian ruble, cryptocurrencies);
- own trading platform Libertex;
- choice of trading leverage with a maximum of 1:600;
- international certificate ISO 9001;
- numerous training programs;
- great forum.
• FX Club is regularly included in the rating of the best Forex brokers, over the past decade the company has received the “Best Broker of the Year” award several times.
3.FxPro
The international broker FxPro operates in 170 countries of the world, is authorized in the financial supervision departments and securities commissions of the UK, South Africa, Cyprus, Dubai, the Bahamas. Based in London, the main features of the London-based company are Tier 1 equity (€100 million), six classes of trading assets, and an external audit by British lawyers.
• Trading conditions:
- minimum deposit of $100;
- fixed spread of the EUR/USD pair (1,5 pips);
- floating spreads of other pairs according to market conditions;
- withdrawal of funds to Mastercard, Visa cards;
- traditional trading terminals and own mobile application;
- a large set of trading instruments.
• Our 2022 Forex Brokers ranking put FxPro in third place due to financial stability, international reputation, fast payouts, and a minimum number of justified negative reviews.
4. Forex4you
The international broker, registered in the Virgin Islands, confirms its reliability with an FSC license. The dealing center has been operating for more than ten years, regularly getting into the top ten brokers. Working with traditional MetaTrader terminals, Forex4you offers traders the following trading conditions:
- minimum deposit of $1;
- unlimited demo mode;
- floating market spreads;
- three deposit currencies (US dollar, ruble, euro);
- minimum leverage 1:1;
- maximum credit 1:1000;
- a wide range of trading instruments (including commodity raw materials, cryptocurrencies, energy carriers).
• Forex4you's distinguishing features include active work with PAMM accounts, no restrictions on robotic trading, constant expansion of trading tools, and quick withdrawal of profits.
5. RoboForex
International broker RoboForex, registered in Belize, has been operating for ten years. During this time, the dealing center has significantly expanded the list of trading instruments, the analytical section. Last year, RoboForex offered traders the following trading conditions:
- minimum deposit of $1;
- 1 cent lots on micro-accounts
- loyal verification;
- floating spread on the main currency pair EUR/USD;
- promotion "No deposit bonus";
- maximum leverage 1:1000;
- fixed spreads for Fix-Standard accounts;
- access of ECN accounts to the interbank market with small commissions;
- copying trades of experienced traders.
• Like other most reliable Forex brokers, RoboForex receives the minimum number of real negative reviews in terms of payout speed and commission fees.
6.FinmaxFX
The young broker FinmaxFX has been operating since. The activities of the dealing center are subject to European directives, certified by the FRCFR. Working with popular trading terminals and its own mobile applications, the FinmaxFX broker offers traders the maximum leverage according to European standards (1:200), a minimum deposit of $100.
• Non-standard trading conditions include:
- tight spreads (1 pip for VIP clients);
- a set of trading instruments (more than four hundred assets);
- swap trading;
- daily webinars;
- deposit protection system;
- a large database of educational materials (books, videos, economic calendar, news blog);
- original bonus programs.
• Despite a short period of activity, FinmaxFX is included in the top Forex brokers in 2023 in sixth place, its rating is constantly rising.
7. Finam
Finam Forex operates under Russian law and is licensed by the Central Bank of the Russian Federation. The authorized capital of 143.000.000 rubles allows the broker to calmly survive the shocks of the financial market, without stopping the payment of profits to traders. Last year, the broker offered traders the following trading conditions:
- twenty seven currency pairs;
- leverage 1:40;
- several trading terminals (including TRANSAQ, QUIK, FinamTrade platforms, mobile applications)
- large sizes of minimum lots (not less than 1000 units);
- deposit and withdrawal of money by non-cash bank transfer.
• Many of these conditions will not suit novice traders. But Finam Bank positions its subsidiary Finam Forex as a dealing center for experienced financial market players.
8 NordFX
Working on the Russian Forex market since 2008, the international broker NordFX reduced its positions after the tightening of Russian legislation. But many experienced traders continue to work with NordFX and recommend it to beginners in their reviews. The company has earned such a reputation for its impeccable history of payments and conflict resolution with clients. Last year, the NordFX dealing center offered traders the following trading conditions:
- minimum deposit $10;
- fixing and floating spreads;
- simple registration and verification (passport only);
- Leverage close to the maximum on the market (1:1000);
- XNUMX% deposit bonuses;
- various news, reference, analytical information.
• In our rating of Forex brokers, NordFX entered the 8th place, but its potential is much higher. The MasterForex Academy brought it to the first places in its own ratings seven times. The decrease in rating positions this year is due to the lack of a license from the Central Bank of Russia.
9 Grand Capital
For six years of work on the Russian market (c), Grand Capital has earned a reputation as a reliable broker. The agreement, which the trader signs upon registration, provides for the return of the deposit in case of bankruptcy of the broker (from the compensation fund), compensation for justified complaints to the Estonian regulator (up to 20000 EUR).
• Trading conditions of the broker Grand Capital:
- minimum deposit of $10;
- unlimited demo trading;
- maximum possible leverage (1:2000);
- available deposit of ECN accounts ($500);
- familiar terminals (MT4, MT5);
- extensive analytics, reference sections.
• According to traders, Grand Capital is distinguished by the speed of profit payments, quick resolution of conflicts with clients, and impeccable technical support.
10. Alpha Forex
The top 10 Forex brokers are completed by Alfa-Forex, licensed by the Central Bank of the Russian Federation. The requirements of the Russian legislation limit the possibilities of the broker, but the financial support of the parent bank guarantees the stability and reliability of the dealing center. Alfa-Forex offers Russian traders:
- independent account in Alfa-bank;
- eleven currency pairs;
- fixed leverage 1:40;
- fixed spread (from 1,6 to 7 points);
- standard and mobile terminals;
- automatic trading;
- deposit and withdrawal of money by non-cash bank transfer.
• Difficulties for novice traders can be a personal opening of an account in a branch of Alfa-Bank, a large amount of the initial deposit (even the minimum lot is a thousand base units). Income tax is deducted from each payment. But in case of financial conflicts, you can apply to the administrative court of the Russian Federation, you have direct access to the invested finances in your bank account.
Which Forex broker to choose?
• For dealing centers, getting into the best Forex brokers in 2023 raises prestige and authority, but does not change the principles of work. In essence, a novice trader can open a deposit with any broker from the top ten. For prudent beginners, it is better to start working with dealers with minimal deposits. But in the list of brokers, you can also find job offers with maximum leverage, allowing you to quickly increase your deposit.
