March 2021 turns out to be an active month. Financial markets moved on exciting events, but some key players in the brokerage industry led the way to further expansion of their services in the future.
The brokerage industry, as we know it today, came a long way from its incipient phases. A decade or so ago, a broker’s quote on the EURUSD pair was often three full pips – now it may go as low as 0.1 or even zero in some cases.
Technological breakthroughs and increased internet access led to more retail traders turning their attention to financial markets. Competitions got stiffer but to the trader’s advantage.
March 2021 offers the best example of how the industry continues to evolve as the efforts and resources brokers are invested in their customers. Here is a list of the best brokers for March 2021, how these names excel among competitors, and why their platforms have increased in popularity among retail traders.
eToro announced its plans to merge with a SPAC in a deal worth $10 billion and list eToro on the stock exchange. eToro Group Ltd. is expected to be listed on Nasdaq somewhere in the third quarter of this year.
The brokerage has come a long way in its fourteen years of existence. Its YoY growth is still in triple-digits, both in profits and in the number of customers attracted.
As a trader’s partner, a broker aims at two things. One is to retain its existing and active traders, and another is to attract new ones. Only in January this year, eToro attracted over one million new traders – a sign of its growing popularity and why it made first place on our best brokers for the March 2021 list.
Plus500 recently reinforced its guidance for the Q1 2021 earnings, in a sign of confidence in the business and success in attracting new customers and retaining the old ones. The company defines an active customer as one that made at least one actual trade over the period (i.e., over the first quarter of the year) and a new customer as one that deposits for the first time.
Based on the earnings guidance reinforcements, Pluls500 shows growth in its services’ popularity due to its competitive offers, which traders highly appreciate. Therefore, it is no wonder it makes the second position on our March 2021 list.
Yadix celebrates a decade of offering one of the best services in the industry to its clients and has some incredible offerings on occasion. To start with, it unveiled a Rebate Program that literally pays traders to trade. The outcome of the trade does not matter – win or lose; Yadix offers a cash rebate.
Moreover, March 2021 brought free VPS services at Yadix. A Virtual Private Server (VPS) solves many of the issues for a trader that uses robots or expert advisors to enter and exit the market. More precisely, a VPS guarantees that the trading platform remains active 24/5, a mandatory condition for most trading algorithms. Such VPS services usually need to be paid for, adding to the regular trading costs – not at Yadix, as this service is free to all its customers.
XGlobalMarkets is a regulated brokerage house that made its way to become one of the industry’s top brokers. Offering raw spreads via STP (Straight-Through Processing)-embraced technology, its trading conditions are difficult to match by its rivals.
No matter if the trader wants to trade 0.01 lots or 200 lots per trade, XGlobalMarkets can accommodate any request. It actively uses over thirty-five technologies for its website and trading platforms, a compelling reason to check its offer and see what trading with XGlobalMarkets is about this month.
Another STP broker, AccentForex, made headlines this March with its promo campaigns designed to attract interest to its great offering. These are not big words, as the spreads go as low as 0.1 pips at AccentForex, and traders are invited to check for themselves.
The broker recently increased its new deposit bonus offering from 30% to 40% to attract even more retail traders. If we add to this services like PAMM, a contest for demo accounts and a perpetual loyalty program top-rated among its clients, it comes as no surprise that AccentForex made our best brokers for March 2021 list.
The FX retail industry moves ahead, with key players taking essential steps to improve their offerings and overall service quality. Stiff competition always works for the good of the customer, leading to innovation and ultimately to better trading conditions.
While all brokers fully deserve their place on our list today, it is the traders’ job to do due diligence and research before dedicating real funds they cannot afford to lose to trading financial markets.