RESEARCH PAYS OFF
To begin with, we tried to locate all the social platforms that use a single forex broker. The reason we decided to do so, is because we wanted to avoid recommending to our visitors and members to trade with brokers that our team has not traded with. A trader’s success on a Copy Trading platform depends greatly on the fx broker that is used. The choice of a wrong broker on a multi-broker social network can lead to devastating results. Thus, despite the popularity of multi-broker networks we decided to exclude them from Top Forex Rebates, as recommending brokers we have not traded with, and recommending brokers that are verified scams is against our business practices.
Once we compiled our list, we conducted a preliminary research in order to filter out the obvious bucket-shops and scams. We then proceeded with testing the remaining Social Trading platforms in a similar way that we used with testing the forex brokers we accommodate; we created both live and demo accounts (as random traders) and our team began to trade, to contact customer service with various inquiries, to test the various features of each one of the platforms (be it MT4 based, Sirix based, or custom) and to pay attention to platform functionality, trading conditions and anything else that could affect the procedure.
After trading with a respectable sum for a time period of six months, monitoring all the parameters involved, we proceeded with the one test that counts the most; withdrawal. Thus, our quality testing procedures resulted in a listing of Copy Trading Platforms that may be brief, but it’s one that the Top Forex Rebates team is confident to present.
KEY POINTS MONITORED
- Platform Responsiveness, Functionality and ease of use
- Quality of Execution
- Withdrawal Speed and Ease
- Business Practices
- Customer Support
- Features and Tools