As everything in the world needs evidence to prove strength, reliability, knowledge or loyalty, FX brokers need to be recognized in the financial world as “the most of the most”, like “The most reliable Forex broker 2015”, or “Best Global Broker Award”, or “International Star for Leadership in Quality”, or «FOREX Expo Awards 2016 – Broker of the Year» and so on. These awards depict how much a trader can trust his mediator.
Brokers use received rewards in their advertising campaigns and for promotional activities. Such universal recognition is a proof of hard and honest work.
Why do FX brokers need awards?
1. For prestige
The authority of the company among the others is respect and trust.
2. For image
Worldwide recognition outputs an image to a higher level, and the company becomes well known.
3. For prosperity
Prosperity is the highest degree of well-being of the company, its employees and thus traders.
Why are awards needed in the FX fields?
Awards are given in each financial field, either it is the foreign exchange, binary options or stock exchange. They can be international or regional. The main purpose of awards is to stimulate market leaders and new companies to making their services better and support the high financial level.
International awards are more trustable, as the quantity of participants from all over the world is much bigger than at a regional level. Besides, the anonymous vote is a multi-phase process that makes the results honest and genuine. So, possessing the international recognition means outstanding qualifications of a company.
Who are the organizers?
There are most popular first-rate organizers, who have specific peculiarities and voting procedure.
FX Street
Forex Best Awards is held for already 5 years in January or February in order to evolve significant participants of the market. Events are usually held online, and the winners have an opportunity to share their video feedback.
The nominations are not usual ones, for instance: Best Analysis, Best Sell-Side Analysis Contributor, Best Buy-Side Analysis Contributor and so on. Such awards let traders know, what companies are good at providing with analytical part of trading.
The process of awarding is the following: the FXStreet Content team selects nominees for the quality and popularity of websites. Then the popular vote defines several representatives. And at the end the FXStreet Experts team chooses the winners.
Forex-Awards.com
FX-Awards is a company headquartered in Hong Kong. Every 6 months at least 10 experts explore various brokers and platforms with the purpose to include them in a list of about 30 nominations and make an online rating of the best. Categories are usually the following: Best Forex Broker, Best Trading Platform, Best Forex Broker in Canada, Best Forex Broker in USA and so on.
To make a list of the best, Forex-Awards undertakes analytical work, choosing a varied range of brokers. Then registered traders vote for nominees. The results of voting are published on the official website.
Forex Magnates London
London Summit is supposed to be the largest conference in Europe. The annual event is held for two days usually in November to give thousands of participants an opportunity:
- to attend exhibitions,
- to take part in panel discussions,
- to get acquainted with colleagues from other countries,
- to attend awarding ceremony.
The participants are the top executives of the leading FX and FinTech firms from all of over the world. The event is performed in the Brewery on Chiswell Street, City of London.
As far as award categories are concerned, they are usually devoted to defining the best of the best, like Best Forex Broker, Best Liquidity Provider, Best Binary Options Service Provider and so on.
To be able to take part in the voting process, a participant should register to the event. Then he chooses 5 candidates for a nomination by means of an e-mail, received a few weeks before the event. As some time passes, the participant receives another e-mail with 5 candidates with most votes to opt one winner. What is left is just attend the awarding ceremony in London.
FX Empire
FX Empire Awards is an online rewarding, which takes place at the end of each year. This is a great opportunity for participants to exchange their experience concerning work with brokers. Nominations are aimed at selecting the best broker in each category relying on traders’ opinion.
In order to choose nominees, FX Empire collects data about various brokers, trading platforms and educational abilities. Then more than 10 000 traders take part in online voting, opting the most worthy out of the list.
Show FX World
Show FX World is an exhibition organizer that allows broker companies, software programmers, traders, banks, data providers and other international organizations gather together and discuss FX innovations and participate in discussion. The series of exhibitions and conferences are held in different countries (the last one was in Russia (Moscow), the next one will be Slovakia (Bratislava) April, 16). The aim is to demonstrate all new products and services, and reward the most remarkable and significant projects and companies that are nominated for becoming Best Broker of the Year or Best Broker, Russia and CIS or Best Forex Bank and the like.
To get an award a participant should register and attend events. At the end of every series of events attendances receive status rewards. For example, those who have attended seminars will get certificates proving their presence at all meetings.
Every participant of exhibition has an opportunity to take part in “Best Forex Broker” contest. A winner gets a statuette «ShowFx World Best Broker».
UK Forex Awards
Last time UK Forex Awards were held at the Crypt in Holborn, London (16.09.2015). Traders and private investors vote for companies they trust. The awards are given for innovative technology, low-cost trading, educational programs, various researches and so on.
Nominations vary much, for example: Best Forex Introducing Broker Scheme, Best Value Forex Broker, Best Forex Binary Options Provider, Best Forex Trading Automation and so on. More than a month is given for choosing brokers among UK companies and vote for them.
Shanghai Forex Expo
NAI Interactive Ltd. (NAI) Center organizes the exhibition Shanghai FX Expo. This annual prestigious event gives an opportunity to know the latest achievements of brokers and bankers. The next international exhibition will take place on April, 15 and 16, 2016 at Great China International Exchange Square.
Nominating categories will be:
- Best Forex Broker of the Year
- Most Trusted Forex Broker
- Best Trading Platform Provider for Asia
- Best Rebate Provider, and many more.
To participate in the contest, a company should apply for awards by means of filling in a special form on the website. Traders can vote for nominees on the official site of the exhibition. The results will be announced in the exhibition.
New participants always appear in the FX industry. It is very important for them to make themselves recognized and let clients and other brokers know that their services are of high quality and even outstanding. There are also brokers who have been working in the market for years, and various FX awards prove their prestige, defining stability and quality of their work. That is why being nominated for a FX award is a significant (sometimes essential) part of FX broker’s activities and an opportunity to demonstrate strength and authority in the financial world.