Top 20 Largest Ad-Spending Brokers in October, 2019

The forex market has seen a series of big events since the beginning of October: US Federal Reserve released the monetary policy meeting minute, China and US conducted a new round of high-level trade talks and Britain is mapping out its way to leave the European Union. Amid the big news, forex brokers are still busy competing for market exposure through advertising campaigns. In WikiFX’s 20 largest ad-spending brokers ranking in October, the high rated brokers account for more than half of the list. However, 3 low rated brokers still got listed and even saw their rankings go up. Here‘s the list of October’s top 20 ad-spending brokers.

The top 5 on the list remain unchanged compared with last month, while the No. 1 largest ad-spender XM has topped the list for 4 months in a row ever since it rose to the position in July. Headquartered in Cyprus and established in 2009, XM holds MM licenses from ASIC(Australia) and CySEC(Cyprus), as well as retail forex brokerage licenses from IFSC(Belize) and FSA(UK). With nearly a decade’s rich experience, the broker is now one of the front-runners of the industry. FXTM which takes up the second place is also a broker of considerable strength. Once the lasting champion of ad-spending list like XM, FXTM is a fully compliant licensee of FCA(UK), CySEC(Cyprus) and other regulation authorities. Forex brokers FBS, Alpari and AVATRADE ranked the third, fourth and fifth respectively.

Overall, high-rating brokers take up an overwhelming majority of the list. Brokers who just enter the list such as easyMarkets and BCR all have pretty high ratings as well.

But a few low-rating brokers are still trying to expand their market share. A typical example is IC Markets whose ranking soared from No. 20 in September to No. 6 this month, suggesting considerable market exposure of the broker. As IC Markets receives heavy complaints from investors lately on the WikiFX App and has tremendous risks, WikiFX has put the broker on blacklist. Another illegal broker BTCC Global dropped out of the list last month but returned to October‘s ad-spender list, and the WikiFX App shows its NFA(US)’s license for generic financial services is suspected to be cloned. The broker has poor rating and investors are suggested to stay away from it.

The top ad-spending brokers list in October has significantly less illegal brokers comparing to previous ones, indicating that the overall environment for forex investment is improving. But a few illegal brokers are still making large advertisement spending which investors should beware of. As a leading forex media, WikiFX have now recorded information of more than 13,000 forex brokers, and investors can verify the information they received from a brokers advertisements by searching the broker on the WikiFX App. If you have been defrauded by illegal broker and suffered loss, you can contact WikiFX and we will try our best to help you recover the fund. Please view recent articles of WikiFX for more information.