State of the Nation – Up to Date Reports on Which Brokers Can be Trusted – eToro & IG

Justin Freeman

Two people shaking hands

Given the amount of technical and fundamental analysis which goes into running a successful investment strategy, it’s often surprising how many traders skip analysing the health of their broker. With some of the big-name brokers recently sharing performance updates, we’ve run the rule over a few to assess which are currently looking strong enough to justify investors holding accounts with them. Two of the most popular brokers, eToro and IG, are first up for review, and the good news for their clients is they are building on already strong foundations.

eToro logo

eToro

There’s talk of eToro listing on the US stock markets later this year. In operational terms, the firm is running a tight ship to make sure it ticks all the due diligence boxes big institutional investors need to check before allocating funds. In July, it added 91 new assets to the platform, reflecting the desire of its clients to tap into a more diverse range of instruments. It’s onboarded more US stocks, including Sunoco LP for those looking to tap into the gas markets and PagerDuty Inc, which operates in the booming cloud computing sector. The good news for Copy Traders is that these markets can be traded using the market leading processes that have made the platform so popular. In March of this year, eToro reported it now has 20m plus registered accounts servicing customers from across the globe. The platform’s ability to still provide crypto trading to UK clients helps it stand out from the crowd, and the firm continues to make inroads into the US market.

IG Logo and Website Navigation

IG

On the 22nd of July, IG Group released its full-year accounts for 2021 and announced total revenue for the year of £853m. The multi-asset platform offers more than 13,000 markets and supports traders from the US and other locations, and the list of Tier-1 regulators it is authorised by provides a high level of comfort. Those wondering about the health of their broker will be pleased that in addition to all these safety measures, the firm has posted total revenues in line with some of its peers. Interactive Brokers, for example, reported a net income of $754m for Q2, a 40% rise on the $539m for the same period in 2020.

Next Steps?

We at Forex Traders do, unfortunately, continue to receive messages from traders who have been scammed. Given the health of the broker sector, anyone considering signing up with a broker or switching to another broker could do worse than check out the reviews of trusted brokers. Even the newer entrants into the sector realise that being regulated with a Tier-1 authority such as the FCA is a fundamental first step towards attracting switched on customers.

Crowdsourcing information about scam brokers can help others avoid falling into the traps set by disreputable brokers, and you can share your experiences here. If you want to know more about this particular topic or have been scammed by a fraudulent broker, you can also contact us at [email protected]


Justin Freeman

Latest news

Samtrade FX – What Happens When You Can’t Get Your Money Back From A Broker?
The Monetary Authority of Singapore’s (MAS) suspension of Samtrade FX’s operations has left account holders in limbo. Read more
Are NFTs Really The Next Big Thing?
For many, non-fungible tokens (NFTs) look very much like the next big thing. Read more

Safest Forest Brokers 2020

Broker Info Best In Customer Satisfaction Score
#1 ForexTime LogoYour capital is at risk Founded: 2011 Global CFD & FX Broker
Number One Broker
BEST FOREX BROKER Visit broker
5
#2 BlackBull Markets LogoYour capital is at risk Founded: 2014 Global Forex Broker
Number One Broker
BEST SPREADS Visit broker
4.8
#3 Your capital is at risk Founded: 2014 Global Forex & CFD Broker
Number One Broker
Best Trading Conditions Visit broker
4.9
#4 Forex Broker eToro Logo67% of CFD traders lose Founded: 2006 Global CFD & FX Broker
Number One Broker
ALL-INCLUSIVE TRADING PLATFORM Visit broker
4.9
#5 Forex Broker Pepperstone LogoBetween 74-89 % of retail investor accounts lose money when trading CFDs Founded: 2010 Global Forex Broker
Number One Broker
Low minimum deposit Visit broker
4.9

    Forex Fraud Certified Brokers

    IQ Option Logo
    XM Logo
    investous logo
    HYCM Logo
    Forex.com Logo
    ATFX Logo
    Pepperstone Logo
    City Index Logo
    FXTM Logo
    Plus500 Small Logo
    skilling logo
    LegacyFX Small Logo
    AvaTrade logo
    OctaFX Logo
    Exness Small Logo
    BlackBull Markets Logo