Top 20 Most Followed Forex Brokers in June, 2019

As the first effective date for ASIC' s new rules approaches, many Forex brokers under its regulation have taken countermeasures this month. For instance, some brokers refunded investors and ended their business in China, or some transferred customers to a new regulatory platform. While, some non-regulated brokers used ASIC' s new rules as an excuse to cover up their escapes.

In such a restless time, let' s see how the interest of investors has been affected.

Here is the top 20 most followed Forex brokers in June, 2019 from WikiFX App.

FXCM

FOREX.com

PTFX

FXTM

GCG ASIA

OANDA

AVATRADE

XM

GKFX Prime

EightCap

ATFX

Exness

USGFX

KVB

MIA

Hantec

IG

AUSFOREX

IC Markets

Saxo

Month-on-month growth (with May, 2019):

FXTM up by 4 places

Hantec up by 4 places

XM up by 2 places

GKFX Prime up by 2 places

FXCM up by 1 place

FOREX.com up by 1 place

PTFX up by 1 place

GCG ASIA up by 1 place

Exness up by 1 place

Month-on-month decline (with May, 2019)：

OANDA down by 5 places

EightCap down by 5 places

ATFX down by 2 places

USGFX down by 1 place

IC Markets down by 1 place

Saxo down by 1 place

New in June：

MIA

AUSFOREX

Being out in June:

Rubix FX

LION

The most followed Forex brokers changed little, compared with that of last month, with only 2 new brokers joining in and the remaining 18 brokers changing slightly in their rankings. Among the 2 new brokers, investors need to watch out for MIA as WikiFX recently received many complaints against the broker from investors, who' s account at MIA blew up overnight. Attempts to reach MIA were unfruitful, as the broker neither answered investors' queries nor fixed the problem of the account, suggesting a high possibility of escape.

In addition, 3 low-rating brokers including PTFX, GCG ASIA and IC Markets remained on the most followed brokers list in June.

Information on WikiFX App shows that with a rating 1.44, MIA currently has no valid regulation for its suspected fake licenses including the ASIC license for investment consultation and NFA license for generic financial service. The broker uses non-MT4/5 trading software, indicating substantial risk. Therefore, WikiFX reminds investors to stay away from this heavily-complained illegal broker.

MIA' s interface on WikiFX App

WikiFX has also labeled low-rating brokers PTFX and GCG ASIA as “illegal” to warn investors against them.

PTFX' s interface on WikiFX App

GCG ASIA' s interface on WikiFX App

IC Markets is another low rating broker. Therefore, investors should beware of its potential risk and stay away from it.

IC Markets' s interface from WikiFX App