Awards – Broker Of The Year Awards 2021
The DayTrading.com Broker Awards for 2021. This year has seen big changes in the trading sector and our Awards acknowledge those brands that have adapted best. In addition to Best Overall Broker, Best Forex Broker and Best Trading App, we have also awarded a Best US Broker Award in what is a fairly unique market.
From innovation to customer service, we have tried to include every aspect of what makes a broker stand out. In a hugely competitive market, spreads and trading costs are very similar across the industry. So, post ESMA, we have looked at the overall health of a firm too, and how they are helping customers trade responsibly, and profitably.
Below we detail the winners and explain the basis on which we made each Award decision. We also mention notable runners up where the call was close. Feel free to send us your feedback and contribute to the winners and losers over the next 12 months.
Best Forex Broker Award
Runners Up: IC Markets
Pepperstone enjoyed a strong 12 months. They have embarked on a global regulation push, opening up new regions where traders can invest with a locally regulated broker, that has a global footprint.
When it comes to forex, the firm excel. The EDGE Razor account offers access to the world’s largest liquidity providers, and therefore some of the tightest spreads on the market. Scalping is accepted, and the thin spreads certainly benefit short term traders.
In addition to the low trading overheads, Pepperstone also deliver excellent execution speed and run ultra reliable platforms. While IC Markets continue to offer a great service, Pepperstone took the award this year, as the broker of choice for forex traders.
Best Binary Broker Award
Winner: IQ Option
Runner Up: Expert Option
Despite their move away from binary and digital products in regulated markets, IQ Option continue to operate a good service for Non-EU clients wanting digital options.
The sector remains under a cloud, but IQ Option have always run a transparent service and continue to provide a great platform, a mobile trading app, and a slick, exciting, trading experience.
The upheaval at Binary.com (now Deriv) has opened the door for IQ Option, who have been runners up for the past two years. Patience has paid off, and their reliable service and ‘best in class’ platform have been voted number 1 in 2021.
Best US Broker Award
Runner Up: Nadex
eToro win Best Overall US Broker this year. It is something of a ‘newcomer’ award, with eToro only really starting their US offering in the last couple of years.
While the US offering is limited, the well-oiled eToro platform still delivers – and at a level that many investors can reach without over-stretching financially.
The move into the US has been made in a considered way, and future expansion is doubtless in the pipeline. The firm are adjusting to regulation in the States and will look to add more services when the time is right. Nadex and Forex.com continue to also offer exceptional service to US traders.
Best Trading App Award
Runners Up: IG
Best Trading App 2021 was another tight call as every provider looked to improve their offering. Avatrade came out on top though.
With an app that has been very well received by users, Avatrade have made mobile trading a priority. The application is slick, fast and most importantly, reliable. While many things can affect the performance of an application, Avatrade do deliver a robust piece of software.
The app is a fully functioning version of the full site, but has also been developed to take advantage of the different strengths of various mobile platforms, notably iOS and android.
IG also deliver an extremely reliable app and are worthy runners-up in a category that will get even more influential in future years.
Best MT4/MT5 Broker
Runners Up: IC Markets
MetaTrader brokers offer all the additional functionality of MT4 or MT5 – therefore execution speed, automation, EA’s or backtesting. These accounts also often have lower trading fees – minimal trading costs are key components for traders using this type of account for frequent trading.
Via their MT5 platform, XM provide a superb MetaTrader account and service. Speed and reliability are both excellent but it is the additional features that tip XM over the top.
The support for MT5 at XM is excellent, and this is a big benefit on a platform with which some traders might be unfamiliar. Likewise, the educational offering at XM is in depth and unbiased, particularly the newer content aimed at traders in Africa.
IC Markets continue to provide a great ECN option via MT4 too, but come in at runner-up this year.
Best Overall Broker
The most sought after award! Best Overall Broker 2021 goes to Plus500.
Plus500 retained the Best Overall Broker by maintaining the high standards they have set over the last few years. As a market listed company (Plus500 Ltd), their financial results are also public knowledge. A range of factors affected financial performance – including COVID 19 and volatile markets, but the customer focus has remained.
Plus500 continue to expand trading options based on customer demand, including topical assets (new IPOs etc). ESMA regulation continues to impact the offering, but professional trading remains an option at Plus500.
The brand continues to provide the best all-round service, scoring well in all areas.