Since there is a lot of confusion among retail traders about the overall quality of forex brokers, we have decided to create an advanced rating system and evaluate all the major forex brokers in the world according to the same set of criteria. Because we are aware that it is impossible to evaluate all forex brokers, we decided to binary option brokers only brokers with high daily turnovers.
To appear in our ranking a broker must have an average daily volume above one billion dollars. Forex broker ratings Our rating system splits the brokers into three major tiers: A, B and C. As you’ve probably guessed, the best forex brokers will have an “A” rating wile the worst will have a “C”. Only the brokers with very high scores on every of our major criteria will receive this rating. They are the best forex brokers in the world and are a good choice for every type of trader. This rating belongs to very solid forex brokers which excel in almost any aspect and are just one small step below the industry leaders.
Trading with such brokers is a very good choice. Brokers in this category are usually very good and reliable. Most traders will have no issues working with such brokers, but if you want to trade large volumes you should try a broker with a higher rating. Above average brokers will fit into this category. They are usually large brokers that cater to less sophisticated traders.
They are safe to use for casual traders but are not a good choice for high frequency traders. This is where you’ll find the average forex brokers. While safe to use when it comes to your funds, those brokers don’t have very competitive trading conditions. They are decent only if you never do day trading.
Brokers with this rating are not very reliable. While most of the times they do their job fine, there are instances when they fail to meet expectations. Not the worst brokers, but far from good. Here you will find brokers with a rather poor reputation. Since there are much better brokers out there, we don’t recommend any brokers with such low ratings. Some people may call “C” rated brokers as scams, and they are not too far from the truth.
Stay away from such brokers, and if you already use one, try to withdraw your money while you still can. They are the worst forex brokers in the world. Their business model is to trade against you and manipulate the prices in order to make you lose your money. This is why it is always recommended to choose a broker rated at least “A-“.
There are plenty of better forex brokers to choose from so there is no reason to work with a poorly rated broker. Most mainstream brokers fall into the “B” range, and there are several reasons for that. They are usually market makers because most of their clients are casual traders coming from general advertising. They don’t need to offer the best trading conditions since they deal mostly with less sophisticated clients who settle for less, since they don’t know about the better options available. Having average trading conditions gives the broker better profit margins.