Over the years, the financial market has received a boost in the aspect of offers and brokerages. The number of Forex brokers have significantly increased from a very few in the early 2000s to the multiple we now have. This increase has been largely attributed to the increase in the international trade market which necessitated the need for a Forex broker and trader.
Forex broker ranking in 2015 revealed that there has been a general increase in the total number of recognized Forex brokers per region from a few hundred to thousands with an increase in the total number of regulating bodies and lawmakers. The top-ranked Forex brokers were drawn from the world's international trade centers such as the UAE, London and the UK with the USD becoming the most important currency in the world.
The Forex broker ranking in 2015 has also shown that one of the major problems traders face is the inability to choose the right Forex broker due to numerous numbers of these brokers in the market and hence, created a way to relieve the trader’s stress by giving a comprehensive list of how all the Forex brokers fared in the international market. According to the Forex broker ranking in 2015, the most studied factors by traders before engaging in a trade included deposits/withdrawals terms, trading platforms, spreads and leverages, commissions and fees, bonuses and promotions, details of regulation and a few more.
In regards to the minimum real deposit amount, it was also discovered from the Forex broker ranking 2015 that there is a great likelihood for it to decrease because the deposits are expected to drastically reduce from thousands of dollars to a few hundred which will offer brokerage to small traders. This will ultimately make trading in the nearest future possible with even lesser amounts.
The Forex broker ranking 2015 also revealed that the major challenge encountered by the Forex traders lies in the complex nature of making deposits and withdrawals from their invested amounts and with that, there is a great likelihood of creating more Forex brokerage services with easier and faster methods of payments and withdrawals such as the MasterCard.
On the aspect of the most popular types of Forex brokerages, the Forex broker ranking 2015 revealed that many of the clients prefer to trade with ECN regulated brokers since they charge commission but do not make money on spreads. It was also observed that the best Forex brokers with the highest rankings provided their clients with different tools and several trading platforms and also educate them on the nature of the market and the best way to trade with it.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.