Best forex broker in the world 2013
Indonesia has had a relatively great relationship with the Forex trading market until quite recently. Forex companies from all over the world understood the potential profitability of catering to one of the most lucrative retail trading markets in the world. The decade spanning from to has been highly profitable for both Forex companies as well as successful investors, as the Indonesian market was mostly non-regulated.
However, during , the Bank of Indonesia came down heavily on several Forex organizations for their alleged misconduct on Indonesian traders. The exponential rise in fraudulent brokers had resulted in investors losing millions of dollars due to scam broker practices. Eventually, the Indonesian market has come to terms with all the modern requirements of the retail FX market and is slowly maturing into a stable economy that has all the makings of turning into one of the economic superpowers.
Indonesia is certainly one of the most important markets that most brokers cannot ignore if they wish to cater to a significant portion of the global population. The Indonesian economy is riddled with inconsistencies that prevent companies from setting up their business in the country. A high tax structure coupled with a volatile economy is a deterrent to the smooth operations for an international company that seeks stability in the markets.
Indonesia is also known for its primarily Muslim beliefs that require companies to adhere to a particular code of conduct, which can be at times against the core principles of that organization.
Therefore, Forex brokers find it hard to set up an FX brokerage in Indonesia without making compromises. During the early days, the Indonesian Forex market was widely open, and the country did not have any central regulatory agency to take care of broker regulation. Forex companies, both genuine, as well as scammers, found it easy to access the highly profitable Indonesian market by manipulating the local currency markets and earning a chunk of the profits.
However, the Bank of Indonesia intervened during the reforms of to ban all Forex brokers from operating in the country.
The next couple of years were revolutionary regarding opening up the Indonesian market to Forex brokers under a strict regulatory regime, which finally allowed traders to return to Forex trading, albeit with a string of conditions attached.
The move also paved the way for several local entities to operate as a local Forex broker to give stiff competition to international brokers, which further eroded the once highly lucrative proposition of catering to Indonesian Forex traders.
Indonesia has not considered Forex trading to be illegal; therefore, the FX trading market is still active and hugely popular in the region. Monthly rating results can be found in our statistics section.
Detailed analysis of the monthly winners is published regularly in our Forex Brokers section. We also provide an opportunity to compare companies. If you want to compare several brokerages or analyze trading conditions, please use our free comparison and research tool which will vividly show you the main benefits of the best forex brokers.
Whether you are looking for a qualified ECN or PAMM broker to invest or to manage your funds, our interactive platform will list the optimal top 10 brokers available.
All services realized on the high professional level. I have been trading here for a last 4 years and completely They provide order execution speed not worse than other big and well-known brokers.
Withdrawal takes up from a couple of hours to They offer a great My handling with this site has been absolutely smooth and But I have some question regarding withdraw funds and using bonuses capital.
In my case, I The most important thing is with drawing my money is easy. Of course, the have minuses too, Due to years of joint work and co-operation with established professional traders, Forex-Ratings. One of the key elements of objective assessment is the feedback from fx traders regarding their interaction with our site.
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