Why is Investfox the new Booking.com for financial services?

The number of online trading brokers is so vast that it is almost impossible for a beginner trader to choose the proper one. There are many scams and frauds who are trying to steal clients’ money and beginners have a hard time avoiding them. For this reason, investfox provides a comprehensive analysis and ranking of popular brokers. Just like booking.com makes it easier to find the most suitable hotel according to your needs, investfox offers a similar service to traders who want to select and evaluate online trading brokers according to their specific needs. So, let’s discuss why investfox became such a star like booking.com recently and why every beginner trader should check their reviews.

Why investfox is similar to booking.com for the financial services industry

Before booking.com it was painful to find, select and book a hotel in a preferred location for cheaper prices. Booking.com enabled travelers to exactly choose the specifics of the hotel in a few clicks. Investfox does the same thing, but for online trading brokers. Many websites that rank brokers will just use titles like top 5 or top 10 brokers without going into details to enable readers to select what they are looking for. Some traders want the MT5 platform with zero spreads or the MT4 platform to use their favorite indicator. All these and many more are solved by the investfox website, which not only enables traders to filter what they want in brokers, but also provides reviews of various financial companies conducted by industry-leading experts. It is very intuitive to find what you are looking for on the investfox website.

Forex broker’s selection specifics

Booking.com uses refined procedures to make sure their hotels are safe. This includes checking their location to make sure there are no scams. To ensure final score accuracy, investfox reviewers analyze and research brokers with an advanced methodology. The main indicator of forex brokers’ safety is regulations. If the broker is well-regulated by multiple regulatory bodies, then it is safer to open an account with them. Since they have to adhere to the regulator’s strict rules, there is little room left for scams and frauds. Another important thing is how well the broker processes withdrawals and what documents are required for verification. The best option would be to withdraw money within a day. If the broker requires more documents than proof of identity and proof of address make sure you check who their regulators are. This has the potential to make it difficult for a trader to verify their account and make withdrawals. There are other important aspects like trading platforms offered with enough trading instruments to find your preferred ones. Diverse asset classes will offer the ability to trade different types of instruments like Forex pairs, stocks, cryptos, etc. on one account. After knowing these important details about broker selection we could sort out the most important aspects. The top 3 metrics would be

• Safety – regulations and other security measures like negative balance protection and segregated accounts for client funds. Negative balance protection makes sure traders can’t lose more money than what they have in their accounts. The third most important aspect of safety is if the broker uses segregated accounts for clients’ funds. A broker won’t be able to use clients’ funds when they are saved on segregated accounts.
• Withdrawals – how easy and fast it is to get your money when you request a withdrawal. Some scam brokers make it hard to withdraw your money with some of them even denying users to get their funds. Make sure your broker lets you withdraw money in less than three working days, ideally within a day of requesting a withdrawal. Don’t hesitate to thoroughly check their withdrawal policies before opening a live account.
• Trading fees – it is essential that spreads and commissions are moderate and don’t eat up most of the profits. Some brokers offer low and even zero spreads and some are really expensive. Depending on your trading style different spreads and commission combinations should be watched for. For scalpers who rely on many trades with smaller profits, the lowest spreads are required, for day traders low commissions and overnight fees are more important.

These three main aspects will show the trader if the broker is willing to offer excellent services and isn’t scamming their clients.

Investfox methodology

Over the years of reviewing and evaluating brokers, investfox has developed a reliable methodology.

All reviews are honest and the final score doesn’t leave room for an error. The main metrics of Investfox methodology are

• Safety
• Assets
• Fees
• Account opening
• Trading software
• Support
• Research
• Mobile Experience

The final score is a weighted average of all these metrics. The most impactful of them is safety which evaluates how many regulators are overseeing the broker. The more regulators the better this metric will be. The coefficient of safety is 2 and is the highest. This approach guarantees that safety will affect the final score the most.

The next metric, assets, determines how many and how diverse asset classes are offered for trading. The coefficient for this metric is 1.5 and together with trading software, is the second most impactful metric on the final score. Another important item from the above list is fees with a 1 coefficient, all remaining metrics have a 0.5 coefficient to decrease their impact and make more important aspects reflected on the final score better.

As we mentioned above, there is an advanced filter in place. This filter will guide you to select exactly what you are looking for after selecting the markets you want to trade. For some traders, regulations are important to provide tax details to their authorities and the filter will quickly exclude brokers that are not regulated by the preferred authority.

Key takeaways

Three main things make investfox become booking.com of the financial services industry.

Their research methodology, intuitive website with extensive filters, and honest reviews, offered by industry-leading professionals. Like booking.com, investfox ensures the information is constantly updated, and filters enable users to find the most suitable broker for their needs.  investfox uses a weighted average to calculate the final rank score for the brokers reviewed. The most impactful metric for investfox when evaluating a broker is its safety.