Traders Union is one of the most reliable information sources in the financial markets. It provides an unbiased assessment of brokerage companies in the industry, with an aim to create seamless and more profitable trading experiences.
TU experts leverage the trusted TU Methodology which tests a platform’s financial viability, reliability track record, safety record, trading conditions offered, and quality of customer service with all their reviews and ratings.
From such a standard, TU ranks platforms from best to least using the TU Overall Score, with 10.0 being the highest.
Traders Union’s Black Bull reviews has given the platform a 4.47 score out of 10.0, placing it in the 115th spot out of the 350 companies evaluated by the metrics during the same period.
BlackBull Markets scored low in the User Satisfaction category, garnering only a 4.10 score from experts. There are a number of factors that led to this decision, experts emphasized.
First, the broker offers a limited number of currency pairs at only 70. Although it compensates for this lack in the form of a Contract for Differences (CFDs), the limited offer automatically disappoints traders from starting an engagement, as competitors offer twice as much as it does.
Another factor considered is its lack of a robust licensing record. It does not hold regulatory approvals from primary regulators in the industry such as the UK Financial Conduct Authority, which restricts it from establishing presence in some of the most important financial centers in the world.
Moreover, TU found BlackBull Markets’ referral program does not live up to expectations, with its IB partnership targeting only large entities.
The TU Overall Score explains brokers with a score between 3.0 to 4.99 are deemed less trustworthy than others, especially the majority of companies that ranked within this threshold lack regulatory oversight.
AvaTrade is another platform recommended for those looking for a better-serving brokerage firm operating with a number of licenses under its name.
Ava Trade review details that the platform was founded in Dublin, Ireland in 2006, giving it more than a decade of experience in the industry. As a general rule in the Forex market, the longer the firm has operated in the market, the more reliable it is.
AvaTrade is a trusted brokerage firm with more than 300,000 users worldwide, processing 2 million transactions monthly.
It has established a presence in 10 key locations, holding licenses to operate issued by the Australian Securities and Investment Commission (ASIC), the Financial Services Authority (FSA) of Japan, and South Africa’s Financial Sector Conduct Authority (FSCA).
Additionally, it holds an accreditation by prime regulatory bodies in Ireland, Abu Dhabi, British Virgin Islands, and Cyprus.
Traders Union has given AvaTrade an overall score of 8.7 out of 10, placing it in the 24th spot. This rating shows that experts will undoubtedly open an account on the platform and trust their personal money on it as it is considered among the most reliable brokerage companies in the market today.