January 24th, 2023
ForexBrokers.com was created in 2016 with a simple purpose in mind: to become the world’s leading provider of in-depth, unbiased reviews of international forex brokers. Since those early days, we’ve produced the ForexBrokers.com Annual Review six years in a row, and delivered dozens of awards to the best online brokers in the industry.
Today, we are excited for the next stage in the evolution of the ForexBrokers.com Annual Review: The ForexBrokers.com Annual Awards.
Results for the Annual Awards are unbiased and determined by our own independent research; Broker Awards are bestowed based on demonstrated excellence in categories considered important to investors, traders, and consumers.
Steven Hatzakis, Director of Online Broker Research at ForexBrokers.com
Steven Hatzakis, a 25-year industry veteran and leading voice on the global forex trading industry, serves as the lead writer for our online broker reviews and directs research, testing, and scoring at ForexBrokers.com.
Our editorial principles have earned the trust of millions of readers; our data-driven forex broker reviews and guides have been visited by nearly six million global readers (over 1.5 million in 2022 alone). And though our principles have remained the same, our research and testing methodologies continue to evolve.
Under our new dynamic editorial model, our team collects data, tests products, and conducts research on an ongoing basis. Broker ratings and rankings are no longer held static between year-end Annual Reviews. Instead, our research team has the scope and flexibility to continually update our findings.
Without further ado, we are excited to announce the results of the ForexBrokers.com 2023 Annual Awards:
Industry Award Winners
The ForexBrokers.com Industry Awards recognize breakout innovations, unparalleled product offerings, and remarkable platform experiences. Our Industry Awards are updated each year to keep them fresh and relevant to an ever-changing forex industry, and we continue to add brand-new Awards each year to reflect the latest industry trends.
Whether we are applauding a truly exceptional new trading tool, commending a vast product offering, or celebrating an entertaining and informative media experience, our Industry Awards were created to showcase the very best in the Industry.
Category Winners in the ForexBrokers.com Annual Awards are brokers that stand out as the best of the best in our carefully curated Awards Categories. Categories have been refined over our six-year history of Annual Reviews, and are designed to reflect the features, products, and services that matter most to investors and traders.
Competitive commissions and fees, impressive social copy trading platforms, extraordinary mobile trading apps, great trading experiences for beginners, and excellent MetaTrader offerings are just a few of the categories that we recognize in our Category Winner Awards.
Best in Class Award Winners
Here are all of our best in class award winners for each of our primary and secondary categories.
Our Overall Rankings are designed to answer a simple, important question: What are the all-around best forex brokers for 2023?
After gathering and validating thousands of data points across 100+ important variables, poring over our collected quantitative data, and factoring in the qualitative observations and qualified opinions of our expert researchers, we are proud to announce the top three forex brokers of 2023 and our ForexBrokers.com 2023 Overall Rankings.
ForexBrokers.com 2023 Overall Rankings Table
|Company||Overall Rating||Offering of Investments||Commissions & Fees||Platforms & Tools||Research||Education||Mobile Trading Apps||Trust Score|
|HYCM (Henyep Capital Markets)||86|
|Libertex (Forex Club)||72|
At ForexBrokers.com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies (click here to learn about how we calculate Trust Score).
Our research team conducts thorough testing on a range of features, including each broker’s individual products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and an exhaustive list of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS 12.5 to test trading on the go.
We also test on mobile devices; for Apple, we test using the iPhone XS running iOS 15, and for Android we use the Samsung Galaxy S9+ and Samsung Galaxy S20 Ultra devices running Android OS 12.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. For a full explanation and accounting of our research and testing process, please click here to learn more about how we test.