Due to the growing popularity of Forex trading, there is a high rate of growth in the number of new Forex brokers. Now there are tons of FX brokers to choose from and it is really difficult to choose the best one for you.
In this important decision making process of choosing a reliable service, there is a process of checking the Forex broker reviews through review websites and review services. If we check history, these review making services have been helpful for many traders to make decisions.
The reason why these sites have been helpful is that they are used as a short-cut for getting good and bad points about different Forex brokers. Since the reviewers are expected to be the customers and real users of the broker services, the reviews can generate a direct view of the broker since it generates clear idea of the service of broker.
Self reviews of Forex brokers
The competition is very much alive today because of a large influx of Forex brokers. To attract and steer a number of people towards their Forex trading services, many create their own websites for reviews. They make the design attractive and the website looks very professional but the whole idea of making the website is to bring the broker on the top of the review table.
While it may be possible that the broker’s website may be placed down the table in the actual review websites, in the self review sites brokers try to make them on first or second place in the table to increase their ratings.
Since there is a big and heavy competition in the market many brokers try to eliminate the competition by bringing them on top of the rankings by creating their own review websites.
Affiliate reviews
Another important source of reviews for Forex brokers is the affiliate review site of their Forex trading services. Affiliate companies simply list the brokers in their review tables and receive commission for passing the customers from their websites.
There are brokers who pay some premium to be on the top of the rankings shown from the affiliate site. It may be fair if the broker company is a good company with no bad history but if the broker company is a bad company with a bad reputation it seems to be an unfair practice.
This is not fair to the customer as the customer will be misguided to a bad broker company which is not honest to the customers.
But of course there are many good Forex brokers who are committed to provide a fantastic service to all who are interested in online trading. You can visit https://www.xtrade.com/ for Forex trading services, help, tips and tricks.
There are also some fantastic review sites which provide complete reviews about the different Forex brokers which can be trusted. However you need to be careful when looking at flashy and glowing review websites showing great reviews about the brokers whom you have never heard of.
Share and Enjoy
• Facebook • Twitter • Delicious • LinkedIn • StumbleUpon • Add to favorites • Email • RSS