Leader in Cargo and Remittance Services to the Philippines.
The Forex Organization has been at the forefront of the Travel, Remittance and Cargo service world since the early 80’s. Wherever in the World Filipinos are, they have come to know Forex as the name they can trust. Forex is committed and dedicated to offering the best service available in the market and continues to produce innovative products and services which are valuable and relevant to. A list with the largest forex brokers in the world, ranked by volume of daily transactions. See the biggest forex companies in each region.
In order for a forex broker to be considered large it must have an AVDT of at least one billion dollars more than 10, standard lots traded daily. We noticed that all the high quality forex brokers are also large ones and have their AVDT of at least three billion dollars. This is why, in this article we will list only brokers with daily transactions exceeding three billion US dollars.
Below you will see the biggest forex companies in the world by volume of daily transactions. We have separated the companies based on their location, as we have identified four major regions when it comes to forex brokers: The regions we identified have different regulation and the brokers in each region must abide by specific rules. The data presented on this article was compiled from different sources such as company presentations and other information found on the internet.
The data is not audited and we cannot guarantee it is accurate. Please take the information about AVDT with a grain of salt as it may contain errors and inaccuracies. Major forex regulators around the world. In order to make it easier for you to identify the best forex brokers from the rest, we have also added our rating next to each broker.
We have a dedicated page where you can read more information about our forex broker ratings. The United States is one of the largest forex markets in the world, but due to very restrictive regulation it has been declining in recent years. It is also the most isolated market since US traders are unable to open account with offshore forex brokers because the FATCA regulations imposed on foreign financial institutions has made it too expensive for anyone to accept US clients.
The strict rules and protection from outside competition had led to consolidation among local brokers, with the most important development being the acquisition of FXCM client base by Gain Capital also known as Forex. Right now there are only three forex brokers in the United States, and one of them is mostly an institutional broker Interactive Brokers , so retail clients have basically only two choices Forex.
This is where most of the large forex companies are located. Because of Europe's cultural and linguistic diversity, local brokers had to adapt early to very different markets and stiff competition, but this has proven to be a great asset when they expanded globally. This is where most brokers are located thanks to the world leading regulation, and even brokers located in other countries such as Denmark's Saxo Bank use a CySEC license for their forex trading division.
While European regulation varies from country to country, they are all compliant with the MIFID legislation of the European Union which adds another layer of protection for traders. Some of the European brokers have gone global, and their operations are spread on different continents. European brokers are used by many traders in Asia, Africa, The Middle East and Latin America, and their total volumes are greatly boosted by their international operations.
Some brokers may have the bulk of their activity from non-European clients attracted by the safety of European regulations and the excellent trading conditions offered by some of the world's leading brokers. Australian brokers are well represented outside Australia's borders as well, because the jurisdiction is very solid and some of the brokers are offering top notch conditions and liquidity.
The major forex brokers in Australia are also very successful in other English speaking countries as well as in China and Southeast Asia. There are three major Australian forex brokers that generate very high average daily volumes, and all of them are experiencing good growth rates. Below you can find the largest forex brokers in Australia:.
There are several high volume forex brokers located in other jurisdictions than the ones presented above Australia, Europe and United States. Since the remaining big brokers are spread around the world and are not concentrated in a smaller region, we have included them in the "rest of the world" category. The brokers listed here come from very different jurisdictions such as St. The brokers in this category abide by different regulation and can vary a lot when it comes to reliability.
However, this does not mean that such brokers cannot be good, as you will see that the ratings they received are very different, from very good to very bad.
While US traders will have to settle with a US based broker since they are not allowed to open accounts with foreign companies, people from the rest of the world are free to trade using an offshore forex broker account. In most cases, Europeans will settle for an European broker and Australians will choose a local one as well, but what about people from the rest of the world?
It is our lifeline and main point of difference against our competitors. Family owned and operated for over 17 years. Proven to be the most trusted and reliable Cargo and Remittance service to the Philippines. Trust is the hardest yet the most rewarding bonds any business can gain from a customer.
We also understand that if it not taken care of, can easily be broken which is why it is our sole focus to remain transparent during any interactions with current and prospective customers. This is why many of our customers over time have become more like family. Hi Forex World, I would just like to thank your staff for the prompt and efficient dispatch of my 4 balikbayan boxes; they arrived and got delivered in Manila on time and in excellent condition.
Could you deliver 2 more regular boxes to my address please? Hello to everyone at Forex, My package arrived here in Manila yesterday, the highlight of my and my daughter's! Everything was intact and arrived in good condition. I just wanted to commend all of you for the excellent service and communication you kept with me during the entire transaction. I especially appreciated the email updates telling me which items had arrived.
I've recommended Forex World to several people and I myself will be availing of your service sometime again this year. Just a comment on your service. I really like this whole process of yours. So efficient and less time consuming compared to a company who I was using for at least a good 2 years. From now on, I will only be sending money through your establishment and I will recommend this to all my friends here in Canberra.
We want to thank you for being so precise and so fast in your service. We have been very impressed with your faultless and delivery and reception of our goods. We will be happy to contact you in the future for any remittance so as to again be pleasantly surprised by the superior performance of FOREX. I just want to say thank you for your excellent customer service. Wonderful quick and reliable service. At last I have found a service I can depend on! I have tried many of your competitors in the past for both sending boxes and transferring money and have been dissatisfied every time.
You have exceeded my expectations. I am very impressed with your services, particularly with regards remittance transfers and boxes. I sent a Premium boxes to my wife in Digos City, Mindanao, and it arrived in a little over 5 weeks. I am very grateful that they arrived in very good condition, undamaged and had been delivered by very professional people.
I will be sending more Forex Premium boxes to wife again soon. Forex World is the best money transfer company! Hi Forex Thank you very much for your prompt and precise handling of our money transfer, as usually, really. But impressed with the approximate one hour it took for the money to arrive in my account. Keep up the good work! Hi I would like to thank Forex for getting my wife's box to Manila in time for a family wedding.
Sydney office did not forget us and kept us informed of the box's progress throughout. The box was for a wedding and is now on its way to the province. Thank you very much for your prompt and precise handling of our money transfer, as usually, really. Dear Forexworld Team, Thank you for your efforts in getting our package to the desired destination.
Though it took longer than usual, given the circumstances with the typhoons we are very happy with the excellent service provided by your team. My box was shipped on Dec 14 and arrived in Mahaplag. Leyte on Jan 15th.. Many thanks for a fine service I love your money transfer service, fast and accurate. Love the encouragement word in your daily quotes too. Thank you very much for the smooth and precise transaction of the pesos remittance. Every time I am surprised on how easily and rewarding is doing business with Forexworld, comparing with other companies on previous years that took them days instead of hours as you, to receive money from Australia.
Now I am glad to use Forexworld and I wish I discovered about you earlier but now I can't thank you enough for your automatic and professional work being so fast and so cheap too! Very impressed with your service and will recommend to all my friends here. I can rely on Forex and this is the reason why I keep using Forex for my sea freight boxes, as I can track my boxes it is really very important to me that it will reach my family and delivered the way I want it.
Just a short note of thanks, my box arrived yesterday after the Manila team sent me a text informing me of its delivery. Thoroughly happy with the service. Have a great day. Our family got there box in Davao just before Christmas. Thank you for your great service, it made there xmas a very happy one. Thank you for picking up my Forex box.
I just want to convey my appreciation for a very impressive customer service of your staff. First of all, I have called your office to schedule a D2D pick up last week, spoke to a lady I wish I didn't forget her name who was so accommodating and flexible to organize a time beyond your normal working hours.
Secondly, on the day of the pick-up something urgent came up from work so I called your office once again to inform that I won't be able to be home by 5: I was so surprised that again she said that she will try her best to get someone to come to my place at a later time instead.
Lastly, the young man who came to my place was so polite and patient even after the fact that he had to wait for me when he could have been home himself or out with friends since its a friday night. You guys have gone way above and beyond my expectations and will look forward to do business with your company again. Thanks again and keep up the good work. We have been using Forex ever since you guys started and we are very pleased with the services.
Although there's a lot of competitions out there offering lower charges but our loyalty is always with you guys. Keep up the good work!!! I heard about your company by word of mouth and from begining till end, your service has been stress and hassel free.
From the first enquiry with the gentleman in the loading dock area, whom was friendly and very helpful, to the delivery to the Philippines, that was on time and delievered in good condition and was there when was stated by FOREX.
And for someone whom this was the first time to send something to the Philippines, the service was so good and will be sreading the word about the great experance i had with FOREX. Again, thank you for the delivery and when i have anything to do with the Philippines again, if i need to get plane tickets, send money or to send another box, I will be using FOREX Australia. This is my first-time here in perth aus. Firstly, i had a problem to send a remittance to my wife thru bank-to bank.
Luckily i had a workmate informed me that forex is great and reliable so i try to joined this group. Its great , the customer service reps are awesome.
The box arrived to my relatives in Eastern Samar and I thank Forex for your fast and good service. Either money or box it really gets there on time. You are the best around and I definitely shall continue doing business with your company.
I have been using forex for the last few years, for everything from my new 50" plasma, to my old tool set i wanted to use in the province, even a washing machine. We have been using Forexworld and Cebuana L'Huillier for 18mths - two years. The service is phenomenal both at the Australian end and at Pelenke Office. The absolute best service I have ever encountered , please do not change your company philosophy.
I've been using forexworld to transfer funds to PI for almost a year now and they are reliable. Money Transfer only takes few minutes to get to my family in PI. Their friendly staff are willing to assist your need. Thanking you all for your great work. Looking forward for a successful and continuing business in Keep up the good work will used again next time.
We missed the cut-off for Xmas delivery, but you guys got it there anyway! American and Japanese brokers were unable to grow their business at a good rate in Europe, Asia, South America and Africa.
On the other side, the low leverage enforced by the regulators has limited the upside on their home markets. This is why we can see American and Japanese brokers no longer dominating the global forex market as they used to do a few years ago. However, the consolidation that happened in the US market because of the strict regulations resulted in Gain Capital Forex.
A segregated market with no competition from the outside world is very bad for the retail client, but it is very profitable for the big corporations that manage to be the last ones standing. They benefit from the lack of competition as they can have a large client base without innovating and improving their services.
It seems that the right balance was found by Cysec The Cyprus Securities and Exchange Commission , which now regulates the fastest growing European brokers and it is the hot spot for regulation in the European Union. Brokers under Cysec regulation are doing very well worldwide and seem to be able to grow their business at a very fast rate.
This resulted in Australian brokers gaining good market share in the global forex market. Saxo Bank , XM. Leverage plays an important role in increasing the volumes of traders with less capital and it is in high demand in emerging markets like Africa and Asia.
High leverage helps brokers attract more customers and allows them to lower the minimum deposit requirements. Since US brokers are not allowed to offer leverage higher than However, the SNB shock has proven that there is no link between maximum leverage and the broker being insulated from volatile markets. FXCM has lost millions of dollars although it was limited to a maximum of Brokers will often reduce the maximum leverage allowed before events that greatly increase market volatility, as it was observed during the Greek debt crisis when most brokers reduced leverage during high volatility weekends.
This means that forex brokers with good risk-management teams can navigate market volatility on their own without the need of tougher regulation. Spreads are also an important factor for many traders when choosing their broker. Traders who do their due diligence well are more likely to choose a broker with lower spreads. Forex brokers with lower spreads will have lower profit margins but have an advantage in client acquisition and tend to grow their client base and daily volumes faster.
They also have a better client retention rate and higher profitability among their traders. Execution is very important for scalpers and high frequency traders. Traders who use Expert Advisers to test their auto trading systems are also interested in the execution speed and quality. Slippage and re-quotes can be very harmful for scalpers and this is why they tend to look for scalper-friendly brokers. Hot Forex , XM. Promotions can be a very good incentive for new traders to choose a certain broker.
High profile brokers like Forex. This strategy offered them higher profits in the last two years but hampered their growth and resulted in a loss of market share. While such promotion might be seen as a way of attracting only low capital clients, it proved to have many positive side effects that helped fuel the amazing growth experienced by XM. A free bankroll creates a lot of buzz in the forex online community and a lot of positive feedback from those who receive it.
XM also offers deposit bonuses that can add-up to the trading capital and are an additional incentive to choose them instead of other broker. Considering the fact that XM experienced the highest growth rate in both new customers and trading volumes in the last two years, we can conclude that their promotion was well received and may be one of the many reasons for their great success. Hot Forex is another growth story and it also features some interesting promotions.
Special Features can also have an important role in volume growth and customer acquisition, as they can attract new customers as well as stimulate higher frequency trading. You are the best around and I definitely shall continue doing business with your company.
With so many brokers advertising themselves as being the best, people go to specialized websites to read reviews and see broker rankings hoping they will find which broker is their best choice Kindly pass on also to your Manila people my heartfelt gratitude.