Top 20 Largest Ad-spending Forex Brokers in August

Introduction

In the age of internet, advertisements have become ubiquitous in people‘s daily life. Forex brokers also attach great importance to advertising and make large spending on this point to increase their market exposure and attract more investors. Broker’s market share can reflect the overall investment environment to some extent: a market is positive when there are more high-rating brokers, while the market environment declines if the opposite is true.

On WikiFXs list of top ad-spending brokers in August, high-rating brokers are doing great, suggesting that the forex market is generally improving. However, investors should also beware of the illegal brokers, such as ACY, which continue to enter the ad-spending list. Below is the top 20 ad-spending brokers in August.

Analysis

1. The list shows that among the 10 largest ad-spenders, HFGFX is the only one rated below 7 while the rest all have high WikiFX ratings above 7, indicating a favorable market environment for investors.

British broker XM topped the list for the second month in a row, keeping up its marketing effort. High rated broker FXCM returned to the list after falling out last month and ranked no. 7. AVATRADE rose from the last on Julys list to no. 6 this month, and the rest top 10 brokers either maintained their positions of last month or moved up.

XM's online advertisements

XM's interface on WikiFX App

FXCM's interface on WikiFX App

2. The illegal brokers appeared from no. 11 to no. 20. Like high-rating brokers, they also compete for their share of the pie on the profitable forex market.

Illegal broker ACY was on the list for 2 consecutive months and kept the same ranking as in July. Given that many high rated brokers have also stepped up their marketing efforts, it‘s clear that ACY has kept a large advertisement spending in order to maintain its market exposure. Investors should be careful about the broker’s advertisements and related information to avoid its traps.

Other 3 illegal brokers BULLTRADERS, IC Markets and BTCC Global are also among the largest ad-spenders, investors should stay alert about their marketing campaigns.

ACY's interface on WikiFX App

ACY currently has no valid regulation and receives heavy complaints from investors recently. Rated at 2.36 on WikiFX App, ACY has been labeled an illegal broker.

BULLTRADERS' interface on WikiFX App

BULLTRADERS, with WikiFX rating 1.21, is not regulated.

IC Markets' interface on WikiFX App

IC Markets, though under regulation with valid license, is heavily complained by investors and has a poor WOM. Its WikiFX rating is 3.20.

BTCC Global's interface on WikiFX App

BTCC Global is rated at only 1.14 on WikiFX App and its alleged NFA license for financial service is suspected to be cloned, having tremendous risks.

Conclusion

The top ad-spending list this month mostly includes high-rating brokers. XM's lasting championship and FXCM's return to the list help to boost market dynamism and investors confidence. Meanwhile, investors should beware of ACY that remain a large ad-spender for the second month as well as other 3 illegal brokers on the list, all of which maintained considerable market exposure despite fierce competition from high-rating brokers. Be careful about their commercials and keep away from such risky illegal brokers.

WikiFX reminds investors that besides high-rating brokers, illegal brokers also attach much importance to marketing campaigns, in hope to lure more investors into their traps by spending heavily on advertisements. When facing the all-pervasive advertisements, remember to base your judgement on information collected from various sources, rather than intuitive feelings. You can also check the broker rankings that WikiFX releases every month to find out more about forex market trends and brokers information.