Amid Increasingly Fierce Competition, Is There Opportunity for Newly Founded Brokers?

The foreign exchange or forex market is the biggest financial market in the world. It is even bigger than the stock market. Moreover, the forex market continues to grow.

According to the latest data on the turnover of foreign exchange instruments in spot and OTC derivatives markets released by the Bank of International Settlements (BIS), FX trading has reached the daily turnover of $6.6 trillion, increasing by 30 percent from the level of $5.1 trillion reported three years earlier.

（Source: The Bank of International Settlements）

Imaginatively, an increasing number of online brokers have appeared on the scene, waiting to be part of this highly liquid, opportunistic market that it is today. In addition, regulatory hurdles and technological advancements may mean the forex market is more competitive than ever for forex brokers.

Does this mean that there are few market opportunities for newly established brokers? The answer is: definitely not. A growing number of participants in the forex brokerage sector would only make the industry more transparent and fairer.

Here are some of the forex brokers founded in 2019-2020, subject to the regulation by the FCA, ASIC and CySEC:

1. EBC Financial Group

EBC Financial Group was established in the global financial center, London. They are committed to offering a trustworthy and foolproof online trading service to their diversified clients across the globe.

They obtain low latency and high liquidity across different classes of assets from a variety of entities (including tier-1 banks, MTF, ECN and 36 exchanges). EBC order-driven execution model provides customers with better liquidity, and focuses on continuously optimizing their quotes and reducing rejection rate.  

Simply by one EBC integrated account, investors can trade a wide range of contracts for differences (CFDs), such as Forex, US stocks, digital currency, index futures, precious metals and energy resources, etc.  

2. eXcentral

eXcentral is a Cypriot broker that offers a single account and access to the MT4 platform. When we weighted the advantages of eXcentral, one that stands out is the fact that the broker is regulated in Cyprus and across EU and the EEA.

The broker offers leverage up to 1:400 and rich and diversified product portfolio in forex, CFDs on indices, commodities, precious metals, stocks, and some of the most popular cryptocurrencies.

3. Trade Nation

Established in 2019, Trade Nation has secured licenses from the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority (FSCA) in South Africa, and the Securities Commission of The Bahamas (SCB).

“We’re on a mission to change the trading industry for the better and give all traders a fair and transparent experience. If your organization shares our values, we’d love for you to become a partner,"the broker says.

4. Trading.com

Trading.com is operated by Trading Point of Financial Instruments UK Limited, which is licensed and authorized by the Financial Conduct Authority (FCA). The company is expected to become one of the leading brands both in the UK and the wider EU. The trading conditions offered by Trading.com are basically as good as they can get, and their trading platform is well known to the trading community.

“Although we will continue to adapt and innovate to meet the ever-changing needs of today’s traders, our core values remain the same. Through expanding our product offering to bring you even more ways to trade, to growing our team with dedicated individuals that share our vision, we will remain ahead of the competition while retaining our position as a market leader,"the broker states.

5. Milton Prime

MiltonPrime is a brand owned and operated by Holiway Global Ltd. It offers an extensive range of smart, user-friendly products, services and trading tools that appeal to the pros and empower new traders to enter the online trading arena.

Licensed and regulated by the Seychelles Financial Services Authority(FSA), MiltonPrime is committed to creating a secure and fair trading environment. Its platform provides the highest levels of transparency and protection with advanced technology that safeguards the privacy and safety of client funds and creates a reliable trading environment that traders know they can trust.

Competition has always been strong in the forex market. In order to stand out from the crowd, brokers now have to find their best partner to improve themselves. If you want to have a profitable Forex partnership, Fazzaco​'s ranking list, product assessment, and impartial reviews may give you some inspiration.

As for fintech companies, why not connect with these start-ups? Your reliable solutions may be their first choice.