Top Forex Brokers 2016 – 2017 . When it comes to making a ranking of forex brokers, Web sites with brokers reviews make their classification selections for the first positions using a variety of different criteria. Investors use these revisions to decide which broker offers the features they need before opening a trading account and these revisions can save traders many hours of stress and research. At the beginning of each year, the lists of the best brokers are selected and published online, and the first round of brokers recommended for 2016/2017 has recently been published. Due to the issues we will see below, the best brokers can change throughout the year, so it is a good idea to do your research carefully near the moment you expect to start trading in forex markets.
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Top Forex Brokers, MT5, MetaQuotes, MT4, trading platform, MetaTrader 4
There have been several major changes in the regulation of forex in 2016 and many other amendments to the regulations will enter into force in 2017. A place where the regulatory changes have been much noticed was in the binary options sector. Many brokers have been investigated in 2016 and many have closed, while more closures are expected in the coming months.
More countries are banning the promotion of binary options, and things are still going to get tougher for binary option brokers. However, this will probably be good news for traders if the scammers or fraudulent are expelled from the business and a strengthening of regulation maintains honesty in the sector.
CFDs- Top Forex Brokers
In the United Kingdom, the FCA has proposed limiting the maximum leverage that can be offered in the contracts for the difference (CFDs) to 50 to 1, or 25 to 1 in cases where the trader is a retail customer with less than 12 months of experience operating such instruments.
Belgium has banned all trading of CFDs, binary options and Forex, in the most draconian regulatory change made in modern times by any Member State of the OECD. It is unclear how you can enforce this fully for brokers located outside Belgium who decide to ignore Belgian regulations. This took place shortly after France banned all advertising from forex brokers, CFDs and binary options.
Finally, offering bonuses to traders is increasingly seen with worse eyes. The FCA is prohibiting all such incentives in the United States and in Cyprus the bonds have already been banned, or at least no new schemes can be introduced and existing programmes should be allowed to end after a reasonable period. However, there are some speculation that the ban on Cyprus is only a ‘ cosmetic ‘ ban and that brokers there will find a way to save the situation, at least for a considerable time.
To be honest, we believe that this measure against bonuses has already been implemented a long time ago. They act as a distraction of the issue that really matters and are an invasion from the world of online gambling, being seen with total contempt for real traders. Even worse, the conditions that brokers always impose on bonds are often not closely examined by those who deposit, and they often make it impossible to withdraw profits until they perform a large number of operations that are unknown to customers who are not in the small print.
Popular trends- Top Forex Brokers
The two trends of the year that really stand out are the growing popularity of the ECN brokers and the brokers that offer social trading. ECN brokers are nothing new, but it seems that retail traders have an increasing awareness of the conflicts of interest inherent in brokerage models. This could be, at least in part, a delayed effect of the spectacular losses suffered by some brokers due to the crisis of the Swiss franc of 2015 that led to greater attention among the traders on the internal functioning of the brokerage houses of Forex and the true nature of its exposure to the market.
As for social trading, it is a feature that traders are looking for more and more among brokers ‘ offerings. It is something that should really be included within the trading platforms to function completely. The features offered on the market are becoming more and more intelligent beyond the obvious incentives that brokers must offer to have their customers happier. This year, the main winners in this field include Etoro and Tradeo.
The normally boring theme of trading platforms became a hot potato this year after MetaQuotes, creator of the phenomenally successful MetaTrader 4 platform (MT4), which became the standard tool for millions of retail traders around the world, surprised the forex community again. Unfortunately, this time he did it by announcing that MT4 would no longer be supported, implying that traders will gradually be forced to leave this platform.
What happened in MetaQuotes is a mystery, but it seems that, after the great success of MT4, decided to conquer the world with a new trading platform that called MT5. However, although MT5 has some similarities with MT4, it is very different and was overwhelmingly rejected by the trading community, as its various accessories seem to offer little advantage to traders and much to brokers and metaquotes. After this resounding failure, it seems that MetaQuotes simply has not given up and will try to force the use of its unpopular product among retail traders. If MT4 really is no longer available, it is likely to offer an opportunity for new trading platforms, and we are already seeing an increase in the confidence that brokers offer their own web based trading platforms, which is probably not a coincidence.