The Most Reputable FOREX Brokers Ranking

For the popularity ranking, we will consider the number of reviewers and the number of followers online in the following platforms : Forex Peace Army, Trustpilot, myfxbook, Google review, Facebook, Instagram, Linkedin, Twitter and Youtube.

We only consider the “number of reviewers”, not “review scores” as a criteria to reflect the reputation and popularity as much as possible.

Scoring Criteria

Note : A Forex broker ranking on “popularity” is just one factor, it is unable to identify if these brokers are really good or not. In case you want to see excellent brokers in all aspects, you can click the link below.

1st Rank Broker : IC MARKETS

It is unanimous that IC Markets is the most popular broker for traders. Based on the number of people who voted on Forex Peace Army, Trustpilot and myfxbook which have the most votes, and all of the votes were in good level.

Add: As observed from the queues on the Live chat, if anyone has ever used it, they will find that IC Markets is a very long queuing broker (The team used to wait for more than 3 hours or more than 60 queues), indicating the amount of usage of a lot of customers.

icmarkets logo

IC-Markets-reputation

35% : Forex Peace Army [Score : 3.503 | 1,253 Reviews]
100%
25% : Trustpilot [Score : 4.7 | 7,051 Reviews]
100%
25% : myfxbook [Score : 3.9 | Total Votes : 718]
100%
2.5% : Google Review [Score : 3.7 | 47 Reviews]
65%
2.5% : Facebook [395K like this]
65%
2.5% : Intragram [12.9K Followers]
53%
2.5% : Twitter [7,218 Follows]
41%
2.5% : Youtube [2.81K subscribers]
24%
2.5% : Linkedin [4,651 followers]
47%

2nd Rank Broker : XM

Although the ratings and number of reviews on Trustpilot may be relatively low, but if you focus on the Forex Peace Army and myfxbook sections, the number of people who have reviewed XM is quite high.

On social media such as Facebook, XM broker page has more than 1 million liked the page (but when XM posted on its timeline, the number of likes on the post is not as many as the number of people who liked the page).

xm logo

 

XM Reputation 

35% : Forex Peace Army [Score : 3.018 | 627 Reviews]
94%
25% : Trustpilot [Score : 2.9 | 126 Reviews]
47%
25% : myfxbook [Score : 3.6 | Total Votes : 425]
88%
2.5% : Google Review [Score : 4.7 | 41 Reviews]
59%
2.5% : Facebook [1M like this]
94%
2.5% : Intragram [25.2K Followers]
71%
2.5% : Twitter [40K Follows]
82%
2.5% : Youtube [43.1K subscribers]
82%
2.5% : Linkedin [12,778 followers]
71%

3rd Rank Broker : EXNESS

Exness is a fairly standard broker. The popularity scores are of good level, especially the score on Trustpilot that has a score of 4.5

On Instagram, Exness has 88.4K followers, which is considered to be at the top level compared to other brokers.

exness logo

 

Exness Reputation

35% : Forex Peace Army [Score : 3.176 | 471 Reviews]
76%
25% : Trustpilot [Score : 4.5 | 539 Reviews]
71%
25% : myfxbook [Score : 3.5 | Total Votes : 310]
65%
2.5% : Google Review [Score : 4.6 | 11 Reviews]
47%
2.5% : Facebook [430K like this]
76%
2.5% : Intragram [88.4K Followers]
94%
2.5% : Twitter [12.1K Follows]
47%
2.5% : Youtube [27.1K subscribers]
76%
2.5% : Linkedin [11,877 followers]
65%

4th Rank Broker : PEPPERSTONE

Similar to Exness, where all of the popularity scores are at good level, there is a Google Review section where the number of reviews only reach 65.

But in the Social media section, it is quite low, with Facebook fanpage having only 68K likes.

pepperstone logo

 

Pepperstone Reputation

35% : Forex Peace Army [Score : 3.514 | 334 Reviews]
71%
25% : Trustpilot [Score : 4.3 | 727 Reviews]
88%
25% : myfxbook [Score : 3.6 | Total Votes : 394]
76%
2.5% : Google Review [Score : 4.2 | 65 Reviews]
82%
2.5% : Facebook [68K like this]
18%
2.5% : Intragram [2,021 Followers]
35%
2.5% : Twitter [6,201 Follows]
29%
2.5% : Youtube [14.9K subscribers]
35%
2.5% : Linkedin [6208 followers]
59%

5th Rank Broker : OANDA

OANDA’s popularity rating on Trustpilot is pretty bad (Score 2.6 | 54 Reviews), there are sections of Forex Peace Army and myfxbook that are pretty good, gaining additional score from this section.

Notice that the “score” of reviews on the various Oanda websites is pretty bad.

OANDA has the highest number of followers on Linkedin.

oanda-logo

OANDA Reputation

35% : Forex Peace Army [Score : 2.779 | 471 Reviews]
82%
25% : Trustpilot [Score : 2.6 | 54 Reviews]
29%
25% : myfxbook [Score : 3.7 | Total Votes : 453]
94%
2.5% : Google Review [Score : 4.0 | 2 Reviews]
24%
2.5% : Facebook [101K like this]
41%
2.5% : Intragram [3,747 Followers]
41%
2.5% : Twitter [20.1K Follows]
59%
2.5% : Youtube [14.9K subscribers]
41%
2.5% : Linkedin [22,513 followers]
94%

6th Rank Broker : FXCM

Similarly to OANDA, the number of reviews on Trustpilot is relatively small (Score 3.1 | 52 Reviews), but in terms of Forex peace army and myfxbook, it’s still good to some extent.

And on another similarity, the “Score” in various FXCM reviews is quite low.

FXCM rather has a large number of followers on Twitter compared to other brokers.

fxcm logo

 

FXCM Reputation

35% : Forex Peace Army [Score : 2.494 | 581 Reviews]
88%
25% : Trustpilot [Score : 3.1 | 52 Reviews]
24%
25% : myfxbook [Score : 3.5 | Total Votes : 324]
71%
2.5% : Google Review [Score : 4.3 | 9 Reviews]
35%
2.5% : Facebook [84K like this]
35%
2.5% : Intragram [5,844 Followers]
47%
2.5% : Twitter [101.8K Follows]
94%
2.5% : Youtube [16.8K subscribers]
47%
2.5% : Linkedin [23.227 followers]
29%

7th Rank Broker : FBS

FBS has the highest number of Likes on Facebook, with 1.1 million people liking the page.

One downside is the lack of Google review (no location information).

fbs logo

 

FBS Reputation

35% : Forex Peace Army [Score : 2.718 | 309 Reviews]
65%
25% : Trustpilot [Score : 4.2 | 152 Reviews]
59%
25% : myfxbook [Score : 3.5 | Total Votes : 195]
53%
2.5% : -
1%
2.5% : Facebook [1.1M like this]
100%
2.5% : Intragram [98.1K Followers]
100%
2.5% : Twitter [14.8K Follows]
53%
2.5% : Youtube [22.9K subscribers]
53%
2.5% : Linkedin [2,429 followers]
35%

8th Rank Broker : FXPRO

FxPro is the broker with the highest number of reviews on Google review (4.8 points | 443 reviews).

The overall score is at an average level.

fx pro logo

 

FxPro Reputation

35% : Forex Peace Army [Score : 2.703 | 250 Reviews]
47%
25% : Trustpilot [Score : 3.9 | 124 Reviews]
53%
25% : myfxbook [Score : 3.8 | Total Votes : 404]
82%
2.5% : Google Review [Score : 4.8 | 443 Reviews]
100%
2.5% : Facebook [411K like this]
71%
2.5% : Intragram [38K Followers]
82%
2.5% : Twitter [25.5K Follows]
65%
2.5% : Youtube [26.4K subscribers]
71%
2.5% : Linkedin [15,345 followers]
76%

9th Rank Broker : TICKMILL

Even in the 9th rank, Tickmill is pretty good in terms of popularity because the people who reviewed and followed in different platforms are quite scattered, not concentrated in one particular area.

tickmill logo

Tickmill Reputation

35% : Forex Peace Army [Score : 3.503 | 221 Reviews]
41%
25% : Trustpilot [Score : 4.0 | 280 Reviews]
65%
25% : myfxbook [Score : 3.5 | Total Votes : 197]
59%
2.5% : Google Review [Score : 4.6 | 9 Reviews]
29%
2.5% : Facebook [176K like this]
53%
2.5% : Intragram [14.7K Followers]
65%
2.5% : Twitter [32.8K Follows]
76%
2.5% : Youtube [21.1K subscribers]
59%
2.5% : Linkedin [23,380 followers]
88%

10th Rank Broker : OCTAFX

OctaFx has quite a lot of followers on Social media, but we give a low rating in this section. If you look at the parts that we give weight to, which are Forex peace army, Trustpilot and myfxbook, Octafx has a relatively small number of reviews. So OctaFx has to come down to the 10th in the popularity ranking.

octa fx logo

 

OctaFx Reputation

35% : Forex Peace Army [Score : 3.042 | 267 Reviews]
53%
25% : Trustpilot [Score : 3.3 | 113 Reviews]
41%
25% : myfxbook [Score : 3.2 | Total Votes : 70]
24%
2.5% : Google Review [Score : 2.0 | 76 Reviews]
88%
2.5% : Facebook [479K like this]
82%
2.5% : Intragram [66.8K Followers]
88%
2.5% : Twitter [5,683 Follows]
24%
2.5% : Youtube [74.3K subscribers]
100%
2.5% : Linkedin [2,873 followers]
41%

Scoring Criteria of the Forex Brokers Rating Review

Scoring Criteria of the Forex Brokers Rating Review

We only consider “Number of reviewers”, without including the review score to calculate the ranking of reputable and most popular Forex brokers. Each source is assigned a different weight that is ranked in accordance to importance. It will give more weight to the resources that come from Forex broker review sites than that of the social media.

The data source consists of two parts:

1. Website Review

2. Social Media 

    • Facebook : 2.5%
    • Instagram : 2.5%
    • Twitter : 2.5%
    • Youtube : 2.5%
    • Linkedin : 2.5%

We put less weight on the rating on social media because the number of followers or likes can be bought on social media. So we focus more on the number of reviewers to judge the brokers who have earned their reputation and popularity.

*** Note: that we do not use the “number of account opened” as part of the consideration, because many brokers provide quite unreliable information by inflating the numbers.

Conclusion

The highly popular broker is another factor that reflects the standardization of the broker’s operation. Traders who choose brokers based on popularity will be able to trade with brokers that are of standard level to the general public. However, there are many elements of a good broker. Therefore, traders should consider other factors as well.

References

  • Alpari
  • Exness
  • FxPro
  • IC Markets
  • Land-Fx
  • OctaFx
  • Pepperstone
  • ThinkMarkets
  • Tickmill
  • FBS
  • Forex.com
  • FXCM
  • FXTM
  • IG
  • OANDA
  • Vantage Fx
  • XM
  • XTB

Writer : Yoda Yoshida

  • Position : Editor
  • Biography : Former waiter to professional traders
  • Experience : 20 years in the Forex industry
  • Goal : To select the best broker for traders.
  • Short greetings : Some things take time to grow.
  • Full biography of the writer, Click >