Our Review Methodology
Scoring Overview
Each broker is assessed across 6 categories. Regulation and Customer Support are weighted at 1.5× because they are the most consequential factors for retail trader safety and ongoing experience. The overall score is a weighted average of all category scores, with no editorial override of the numeric output.
All data is collected by our research team and verified against regulatory registers, broker websites, and third-party sources. Brokers with missing data in a category receive a reduced score proportional to the missing fields — they are not excluded from coverage.
Scoring Categories and Weights
The six scoring categories, their weights, and the maximum score each can contribute to the overall rating:
| Category | Weight | % of Overall |
|---|---|---|
| Regulation & Safety | 1.5× | 21% |
| Customer Support | 1.5× | 21% |
| Fees & Costs | 1× | 14% |
| Trading Platforms | 1× | 14% |
| Education & Research | 1× | 14% |
| Deposits & Withdrawals | 1× | 14% |
| Total | — | 100% |
Regulation & Safety and Customer Support are each weighted at 1.5× (21% of the overall score) because regulatory standing is the most critical factor for retail trader protection, and support quality directly affects the trading experience when issues arise.
How Each Category Is Scored
Regulation & Safety (0–10)
Regulation is scored by the tier and number of regulatory bodies overseeing the broker — not simply whether any regulation text is present. We classify regulators into two tiers:
- Tier 1 (major regulators): FCA, ASIC, NFA, CFTC, MAS, JFSA, BaFin, DFSA, FINMA, IIROC, AMF, CNMV, CONSOB
- Tier 2 (secondary regulators): CySEC, MFSA, FSCA, SFC, SEBI, CBB, CBI
A broker regulated only by Tier 2 bodies or offshore jurisdictions scores significantly lower than one with multiple Tier 1 licences. Negative balance protection adds 2 points; a guaranteed stop loss order adds 1 point.
Example scores:
- No recognised regulation: 0–2
- Single Tier 2 (e.g. CySEC only) + NBP: 4
- Single Tier 1 (e.g. FCA) + NBP: 6
- FCA + ASIC + NBP + GSL: 9
- 3 Tier 1 licences + NBP + GSL: 10
Fees & Costs (0–10)
The minimum deposit is parsed and scored on an inverted scale — low barriers to entry are rewarded and high minimum deposits are penalised:
| Min. Deposit | Score |
|---|---|
| $0 – $50 | +8 pts |
| $51 – $200 | +2 pts |
| $201+ | −5 pts |
| No data | 0 pts |
Additional points are awarded for no withdrawal fees (+2), no inactivity fees (+2), and no deposit fees (+2). The category is clamped to 0–10.
Trading Platforms (0–10)
Scored by platform availability: MT4 and MT5 (2 pts each), cTrader (1 pt), proprietary platform (1 pt), iOS and Android apps (1.5 pts each), and desktop apps for Windows and Mac (0.5 pts each).
Education & Research (0–10)
Scored on the presence of: forex education content (2 pts), CFD education content (2 pts), weekly webinars (1 pt), daily market commentary (1 pt), forex news feed (1 pt), economic calendar (1 pt), Trading Central integration (1 pt), and Autochartist (1 pt).
Deposits & Withdrawals (0–10)
Scored on supported payment methods: bank transfer (1 pt), credit/debit card (2 pts), PayPal (2 pts), Payoneer (2 pts), Skrill (1 pt), Neteller (1 pt), and cryptocurrency deposits (1 pt).
Customer Support (0–10)
Scored on available contact channels: live chat (4 pts), phone support (3 pts), and email support (3 pts).
Data Collection
For each broker we collect over 100 individual data points. Data is sourced from:
- Official regulatory registers (FCA, ASIC, CySEC, BaFin, CFTC, NFA, and others)
- Broker websites — fee schedules, terms and conditions, platform documentation
- Third-party platform providers (MetaQuotes for MT4/MT5, cTrader, etc.)
- User verification testing — account opening, deposit, and withdrawal processes
- Customer support contact testing across all available channels
Data is verified by our compliance editor before publication. Any discrepancy between the broker's stated data and verified facts is flagged and resolved prior to the review going live.
Review Process
- Data collection: Our data analyst collects all 100+ fields from regulatory registers, broker websites, and direct testing.
- Algorithm scoring: The weighted scoring algorithm processes the collected data and produces a numeric score per category and an overall rating. No human editorial override occurs at this stage.
- Compliance review: Our compliance editor cross-checks regulatory data (licence numbers, tier classification, leverage caps) against official registers. Any discrepancies trigger a data correction before publication.
- Publication: The lead reviewer writes the editorial summary describing the broker's profile, strengths, and weaknesses. The summary reflects the algorithmic scores and does not introduce new editorial judgements.
Update Frequency
Broker data is updated when changes are detected on regulatory registers or broker websites. Each review page displays a “Last Updated” date reflecting the most recent verified data change. Our infrastructure uses Incremental Static Regeneration (ISR): when any data point is updated in the CMS, all pages referencing that broker are automatically revalidated and rebuilt. There is no fixed review cycle — updates are triggered by actual data changes, not by calendar schedules.