Best Forex Trading Platform of 2023 Named by TradersUnion.com - Hindustan Times
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Best Forex Trading Platform of 2023 Named by TradersUnion.com

Published on Sep 22, 2023 07:33 PM IST

Roboforex named Best Forex Trading Platform of 2023 by Traders Union, followed by Pocket Option and Tickmill.

Best Forex Trading Platform of 2023 Named by TradersUnion.com
Best Forex Trading Platform of 2023 Named by TradersUnion.com
ByHT Brand Studio

Traders Union experts have been analyzing Forex brokers in the market for more than a decade. Recently, it has named Roboforex as the Best Forex Trading Platform of 2023, besting more than 300 other competitors assessed using the unique TU Methodology.

Among the top priorities considered for the assessment is the broker’s track record in the market, to which the longer the firm has been running in the industry, the more valuable its reputation is.

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The availability of licenses is also one of the first things checked. Brokers that hold appropriate licenses and are regulated by leading financial service regulators offset the risk of Forex trading.

Additionally, a company’s trading conditions played a crucial role in the decision-making process. This factor includes assessing the minimum deposit required, the deposit and withdrawal process, the rate of commission, spreads, and leverage, among others.

Customer service quality, including the availability of round the clock support has also been considered by the experts.

Coming next to Roboforex in the latest ranking is Pocket Option, with a TU Overall Score of 9.71, while Tickmill secured the third spot on the ranking, as posted in the TradersUnion.com website.

Tickmill’s TU Overall Score of 9.64 is primarily driven by its stellar user satisfaction which scored 9.65 out of 10. The platform’s spreads start from 0 pips, and traders are given the freedom to use any trading strategy they see fit.

According to reviews, the brokerage company offers good trading conditions when trading using robots, as well as for intraday strategy. It also offers low commission which maximizes profitability of traders.

Tickmill holds a multitude of licenses issued in Cyprus, the Seychelles, the United Kingdom, Labuan, Malaysia, and South Africa, making it one of the Forex brokers holding the most number of licenses to date.

The minimum deposit is low at $100, and traders are given access to a good number of finance instruments beyond currency pairs including commodities, stocks, indices, bonds, and cryptocurrencies.

Other platforms that placed the highest in Traders Union’s Best Forex Trading Platforms ranking are Exness, AAFX, Vantage Markets, Forex4You, AMarkets, XM Group, and OctaFX.

All have been evaluated by the Traders Union Overall Score, a scoring system for brokers used by TU experts to evaluate companies. It ranges from 0.01 to 10.0, with higher scores indicating greater reliability.

Brokers with scores of 8.0 to 10.0 are the most trustworthy, while those with scores of 7.0 to 7.99 are also considered reliable. Brokers with scores of 5.0 to 6.99 are mid-level and generally reliable but require careful assessment.

Moreover, brokers with scores of 3.0 to 4.99 carry a substantial risk and need thorough analysis. Brokers scoring 2.99 and below are not recommended for trading due to lower reliability.

Analysts at TradersUnion.com dedicate time and effort to rank the platforms accurately. This is in line with the finance portal’s goal of producing unbiased and complete reviews of international Forex brokers for a more profitable and seamless trading experience.

Traders Union is trusted by millions of traders worldwide, with its reputation as a prime market information source since 2010.

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.

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