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Highest Trustpilot Rating Forex Brokers

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Trustpilot is the go-to review spot these days, especially for checking out forex brokers. They collect ratings from traders all over the globe, giving you the real scoop on how these brokers are doing. Take a look at the list below and find out if your favorite broker has made it to the selection.

 


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Score Broker Trustpilot Rating Rated By Min Deposit Country
145
IC Markets
IC Markets
32767 Users
$200
Australia
11
eToro
eToro
22304 Users
$200
Cyprus
684
AvaTrade
AvaTrade
7243 Users
$100
Japan
703
Octa
Octa
7133 Users
$25
Cyprus
396
FP Markets
FP Markets
6293 Users
$100
Australia
64
Exness
Exness
6055 Users
$10
Seychelles
705
Vantage Markets
Vantage Markets
3034 Users
$200
Australia
232
Interactive Brokers
Interactive Brokers
2653 Users
$10000
United States
773
JustMarkets
JustMarkets
2446 Users
$1
Seychelles
461
BDSwiss
BDSwiss
2305 Users
$10
South Africa
7
Pepperstone
Pepperstone
1965 Users
$0
Australia
723
Admirals
Admirals
1715 Users
$1
Australia
693
Axi
Axi
1436 Users
$0
Australia
638
Blueberry Markets
Blueberry Markets
791 Users
$100
Australia
1
FXTM
FXTM
704 Users
$10
Mauritius
162
XM
XM
606 Users
$5
United Kingdom
87
Dukascopy
Dukascopy
604 Users
$100
Switzerland
52
FBS
FBS
562 Users
$5
Australia
144
RoboForex
RoboForex
409 Users
$50
Belize
254
InstaForex
InstaForex
329 Users
$1
British Virgin Islands
613
GOMarkets
GOMarkets
314 Users
$200
Australia
70
HF Markets
HF Markets
288 Users
$0
Kenya
10
Tickmill
Tickmill
285 Users
$100
Seychelles
744
LiteFinance
LiteFinance
145 Users
$50
Cyprus
706
FxPro
FxPro
131 Users
$100
United Kingdom
264
MTrading
MTrading
122 Users
$10
St. Vincent & the Grenadines
660
Fxview
Fxview
92 Users
$50
Cyprus
120
ThinkMarkets
ThinkMarkets
79 Users
$0
Australia
717
FXGT
FXGT
63 Users
$10
Seychelles
514
Grand Capital
Grand Capital
61 Users
$10
Russia


Established in 2007, Trustpilot is this fabulous Denmark-based online space offering a comprehensive rating system designed for retailers and service providers. This platform plays a pivotal role in assisting prospective customers in making well-informed purchasing decisions while enabling businesses to refine and elevate their customer experience strategies.

By the end of 2020, Trustpilot had grown big time and now got over 120 million reviews on more than 529,000 businesses. They're based in Copenhagen but have offices everywhere – London, New York, Melbourne, and more. They even went public on the London Stock Exchange in 2021, raking in a crazy £473 million (around $665 million) in the exchange's biggest IPO in almost ten years.

Trustpilot reviews come from people worldwide who've had buying or service experiences with a broker. It's free to write a review if they have a Trustpilot account, follow Reviewer Guidelines, and have no conflicts of interest with the broker they're reviewing.

Any traders can leave a star rating for brokers they've interacted with, shaping a TrustScore from 1 to 5, where 5 signifies excellence and 1 represents a less positive experience. Factors like recency, frequency of reviews, and Bayesian average influence it. In addition, users can comment on various aspects, such as product quality and service, further contributing to the overall picture.

Yes, but you should not 100% believe what was written there. It's essential to not fully trust when interpreting the content on the platform since businesses might occasionally manipulate the system to boost their TrustScores.

Trustpilot has implemented a new "transparent flagging" feature, allowing users to find out the number of reviews a company has flagged. Moreover, the platform now issues a transparency report outlining its initiatives to mitigate any misuse of flagging mechanisms.

See Also: How to Avoid Fake Broker Reviews

 

Discover four effective methods of how brokers try to encourage clients to share reviews, enhancing their collection of valuable feedback on Trustpilot:

  • During interactions, ask customers to review their broker.
  • Use Automated Feedback Service (AFS) to easily invite customers after signing up for a broker or using certain features.
  • Embed TrustBoxes for reviews and review count display on the broker's website.
  • Include customized pamphlets or brochures, guiding clients to review a broker.

See Also: Highest General Rating Forex Brokers

 

Trustpilot designates a review as "Verified" when the reviewer's genuine experience with the broker has been verified. This occurs through automated invitation tools or when the reviewer provides documentation of their buying or service interaction.

Firstly, all Trustpilot-invited reviews receive the "Verified" badge. Brokers are encouraged to use automated email invitation tools, ensuring equal and identical invitations to all customers. Neutral language and adherence to Guidelines for Businesses ensure the authenticity of these reviews.

Secondly, reviewers can offer documentation of their interaction with a broker to validate their review. This is particularly relevant if a business questions the authenticity of a review. Trustpilot Content Integrity Team handles flagged reviews and, upon receipt of appropriate documentation, marks the review as "Verified."

See Also: Comparing Forex Brokers' Ratings

 


Additional FAQ

Not all forex brokers can offer a wide range of trading instruments apart from currency pairs. Therefore, this can be a great opportunity for brokers to stand out in the market and attract traders who are looking to expand their investment portfolio. Some top brokers can offer hundreds, even thousands of tradable instruments, including stocks, index CFDs, commodities, precious metals, etc. A few of them even go beyond traditional instruments and offer cryptocurrencies which are undoubtedly in demand these days.

Continue Reading at 5 Things to Rate in Forex Brokers Quality

  • You can directly fund your trading account from your Neteller account.
  • You can also withdraw from your trading account and transfer the funds to your Neteller account.
  • Signing up for an account is simple and easy.
  • The best part of the service is the quick speed transfer, so the payment process would not bother your trading activity.
  • Forex brokers will not charge you any fees if you choose to deposit or withdraw through Neteller.
  • Payments via Neteller are secure. Neteller company has thought about the security of its customers, so it utilizes the service with the most sophisticated technologies.
  • Neteller offers a currency conversion that charges you a small fee only.
  • You can withdraw funds to your local bank account in your currency because Neteller serves as a worldwide digital wallet.

Continue Reading at Using Neteller for Forex Trading

Yes, you can. If you trade with a trusted and regulated broker, just contact the regulatory agency and inform your transaction history. Then, the regulator will handle and process your chargeback request and you will get your refund in a short time. Furthermore, if the hacking is somewhat proven to be inflicted by some errors in the Neteller's system, the company is obligated to be the one giving you the chargeback.

Continue Reading at Using Neteller for Forex Trading

Essentially, there are four types of brokers based on their execution model, namely Market Makers, Electronic Communication Network (ECN), Direct Market Access (DMA), and Straight Through Processing (STP). Market Makers are called Dealing Desk brokers, while ECN, DMA, and STP are called No Dealing Desk (NDD) brokers. Using a Dealing Desk or NDD broker can affect the trader's trading cost.

There is no such thing as a "bad" execution model, but not all models are suitable for everyone. For beginners, STP brokers are highly recommended. These brokers act as a middleman, typically offers variable spreads, and don't charge commissions. Other benefits of trading with an STP broker are faster-filling orders, the freedom to avoid price quotes, less risk compared to other types of brokers, and the availability of live market trends.

Continue Reading at 5 Things to Rate in Forex Brokers Quality